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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

509408

Report Date :

16.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SIEMENS LIMITED (w.e.f.31.03.1987)

 

 

Formerly Known As :

SIEMENS INDIA LIMITED (w.e.f.23.10.1967)

 

SIEMENS ENGINEERING AND MANUFACTURING CO. OF INDIA LIMITED

 

SIEMENS ENGINEERING AND MANUFACTURING COMPANY OF INDIA PRIVATE LIMITED

 

 

Registered Office :

Birla Aurora, Level 21, Plot No.1080, Dr. Annie Besant Road, Worli, Mumbai – 400030, Maharashtra

Tel. No.:

91-22–24987000

 

 

Country :

India

 

 

Financials (as on) :

30.09.2017

 

 

Date of Incorporation :

02.03.1957

 

 

Com. Reg. No.:

11-010839

 

 

Capital Investment / Paid-up Capital :

INR 712.000 Million

 

 

CIN No.:

[Company Identification No.]

L28920MH1957PLC010839

 

 

IEC No.:

[Import-Export Code No.]

0388070005

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACS0764L

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

Legal Form :

A Public Limited Liability Company.  The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Subject is engaged into following business segment :

 

- Power and Gas: - Provides products and solutions for generation of electricity from fossil and renewable fuels for utilities, independent power producers and engineering, procurement and construction (EPC) companies and the reliable transport of oil and natural gas.

 

- Energy Management: - Supplier of products, systems, solutions and services for transmission and distribution of electrical energy for power utilities and industrial companies. Portfolio ranges from systems for low-voltage grids and distribution grids to solutions for smart grids and energy automation systems to power supply systems for industrial plants and high-voltage transmission systems.

 

- Building Technologies: - Provider of safe, secure, energy-efficient and eco-friendly buildings and infrastructures. As a technology partner, consultant, service provider, systems integrator and product vendor, offerings range from fire safety, security, building automation, heating, ventilation, air conditioning and energy management.

 

- Mobility: - Supplier of solutions for passenger and freight transportation – including rail vehicles, rail automation systems, rail electrification systems, road traffic technology and IT solutions.

 

- Digital Factory: - Contains portfolio of leading edge software solutions and automation technologies covering the complete life cycle from product design and production execution to services for manufacturing companies.

 

- Process Industries and Drives: - Provides products, systems, solutions and services across entire life cycles for all industry sectors.

 

- Others:- Services provided to other group companies and lease rentals have been classified as “Others”.

 

  • Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus

 

  • Manufacturing of electric signaling, safety or traffic-control equipment 

 

  • Manufacture of general purpose machinery

 

  • Repair of fabricated metal products, machinery and equipment’s

 

  • Manufacture of electronic components

 

  • Manufacture of railway locomotives and rolling stock (Registered Activity)

 

 

No. of Employees :

9551 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A++

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists

 

 

Comments :

Subject is a subsidiary of ‘Siemens AG’. The company businesses have been classified into eight segments: power and gas, power generation services, energy management, building technologies, mobility, process industries and digital factory.

 

The company aims to be an integrated technology provider for India's sustainable growth. Its solutions address challenges ranging from efficient and modernized manufacturing, intelligent infrastructure, energy efficiency and integrated automation to mobility and transportation, rapid urbanization, reliable power and sustainability.

 

Siemens (parent entity) ranked 66 in the Global 500 companies list.

 

For the financial year 2017, the company has increased in its operational performance as compared to previous year and maintained decent profit margin of 10.29%.

 

The ratings draw comfort from the strong financial profile of the company marked by a robust capital structure and debt free balance sheet.

 

Share price are quote high on stock exchange (Share price of INR 1272 with face value of INR 2).

 

Rating also derives strength from strong market position and diversified business portfolio, technical and managerial support from parent to make high-quality products and improve service capabilities, thereby maintaining its market position.

 

However, rating strengths is partially offset by company’s exposure to risks related to execution of large projects and to intense competition in the capital goods industry.

 

Trade relations are reported as fair. Payments are seems to be regular and as per commitments.

 

In view of aforesaid, the company can be regarded as promising business partner for medium to long term business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Rating = AAA

Rating Explanation

Highest degree of safety and carry lowest credit risk.

Date

20.04.2018

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2018.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 16.05.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED

 

Management non-cooperative (Tel No.:91-22-24987000)

 

LOCATIONS

 

Registered/ Corporate Office :

Birla Aurora, Level 21, Plot No.1080, Dr. Annie Besant Road, Worli, Mumbai – 400030, Maharashtra, India

Tel. No.:

91-22–24987000/ 01/ 02/ 24931349/ 50/ 39677000

Fax No.:

91-22–24987500/ 52/ 24941758/ 39677500

E-Mail :

ketan.thaker@siemens.com

Website :

http://www.siemens.co.in

 

 

Plant Locations :

MAHARASHTRA

E-76, Waluj, MIDC Area, Aurangabad – 431136, Maharashtra, India

 

Plot No – A 1/2, Five Star MIDC, Shendra, Aurangabad – 431201, Maharashtra, India

 

Plot No. C-1, Additional Industrial Area, MIDC, Ambad, Nashik - 422010, Maharashtra, India

 

Thane-Belapur Road, Airoli Node, Navi Mumbai – 400708, Maharashtra, India

 

Plot No. R-508, TTC Area, MIDC - Rabale, Thane - 400701, Maharashtra, India

 

 

BANGALORE WORKS

97/2, Devanhalli Road, Off Old Madras Road, Virgo Nagar, Bangalore – 560049, Karnataka, India

 

GOA

L-6, Verna Industrial Area, Panjim-Margao Highway, Verna, Goa – 403722, India

 

N73 and N74, Verna Industrial Estate, Verna - Salcete, Goa – 403 722, India

 

GUJARAT

589, Sayajipura, Ajwa Road, Vadodara – 390019, Gujarat, India

 

Plot B, Halol Phase – II, GIDC Industrial Estate, Village Chandrapura, Halol, District: Panchmahal - 389350, Gujarat, India

 

TELANGANA

Plot No. 89 and 90, IDA, Gandhinagar, Post Balanagar, Hyderabad – 500037, Telangana, India

 

KARNATAKA

97/2, Devanahalli Road, Off Old Madras Road, Virgo Nagar Post, Bangalore - 560049, Karnataka, India

 

WEST BENGAL

Nimpura Industrial Growth Centre, PO: Rakhajungle, Paschim Midnapur, Kharagpur – 721301, West Bengal, India

 

PUDUCHERRY

Unit - I, R.S No 16/8, Kurumbapet Village, Villianur Commune - 605009, Puducherry, India

 

Unit - II, R.S No 23/2A, Uruvaiyaru Road, Abishegapakkam – 605007, Puducherry, India

 

R. S. No. 2/1, Plot No. 94, 95 & 96, Kurumbapet Village Villianur Commune Puducherry – 605009, India

 

HARYANA

Plot No. 37, Ground Floor, Sector-18, Huda, Gurugram – 122015, Haryana, India

 

TAMILNADU

309/2, A Block 100, Chettipedu Village, Thandalam Post, Sriperumbudur Taluk, Kancheepuram - 602 105, Tamilnadu, India

 

 

Sales Office 1 :

54/9D, Kishan Garh Village, Vasant Kunj, New Delhi – 110070, India

 

 

Sales Office 2 :

C/O Spear Logistics Building, Block No. C4, B/2,  Shree Rajlaxmi Logistics Park, Vapde Village, Bhiwandi, Thane – 421302, Maharashtra, India

 

 

Sales Office :

Also located at:

 

  • Ahmedabad
  • Bangalore
  • Bhiwandi
  • Bhopal
  • Chandigarh
  • Chennai
  • Coimbatore
  • Gurugram
  • Guwahati
  • Hyderabad
  • Jaipur
  • Jamshedpur
  • Kancheepuram
  • Kochi
  • Kolkata
  • Lucknow
  • Nagpur
  • Navi Mumbai
  • Pune
  • Patna
  • Visakhapatnam

 

DIRECTORS

 

AS ON 2017

 

Name :

Mr. Sunil Dass Mathur

Designation :

Managing Director and Chief Executive Officer

Address:

B-1/29-30, Prithvi Apartments, Altamount Road, Off Anstey Road, Mumbai - 400026, Maharashtra, India

Date of Appointment :

22.07.2008

DIN No.:

02261944

 

 

Name :

Mr. Christian Rummel

Designation :

Whole-time Director

Address:

Vastu Co-Operative Housing Society Limited, Flat No.1202, 12th Floor, Plot No. 26-B, Worli Estate, Worli, Mumbai - 400018, Maharashtra, India

Date of Birth/Age :

17.04.1969

Date of Appointment :

01.02.2014

DIN No.:

01992982

 

 

Name :

Mr. Deepak Shantilal Parekh

Designation :

Director

Address:

Flat No. 4607, The Imperial Tower, North 46th Floor, B B Nakashe Marg (Tardeo Road), Tardeo, Mumbai - 400034, Maharashtra, India

Date of Birth/Age :

18.10.1944

Date of Appointment :

07.11.2003

DIN No.:

00009078

 

 

Name :

Mr. Keki Bomi Dadiseth

Designation :

Director

Address:

8A, Maneck, L. D. Ruparel Marg, Off Nepeansea Marg, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

20.12.1945

Date of Appointment :

27.01.2006

DIN No.:

00052165

 

 

Name :

Mr. Yezdi Hirzi Malegam

Designation :

Director

Address:

Goolestan, 37,Cuffe Parade,Colaba, Mumbai - 400005, Maharashtra, India

Date of Birth/Age :

24.09.1933

Date of Appointment :

01.04.1998

DIN No.:

00092017

 

 

Name :

Mr. Darius Cavasji Shroff

Designation :

Director

Address:

Moonlight, Flat No. 8, Maharishi Karve Road, Mumbai - 400020, Maharashtra, India

Date of Birth/Age :

08.08.1944

Date of Appointment :

20.02.1997

DIN No.:

00170680

 

 

Name :

Mr. Josef Kaeser

Designation :

Director

Address:

Sindorf 15, Arnbruck - 93471, Germany

Date of Birth/Age :

23.06.1957

Date of Appointment :

01.10.2006

DIN No.:

00867264

 

 

Name :

Ms. Mariel Von Schumann

Designation :

Director

Address:

Trogerstr. 44, Munchen - 81675, Germany

Date of Birth/Age :

05.07.1971

Qualification :

Master in Economics

Date of Appointment :

02.08.2013

DIN No.:

06625674

 

 

Name :

Cedrik Francis Wolfgang Neike

Designation :

Nominee Director

Address:

Isoldestr. 2 Berlin 12159 De

Date of Appointment :

10.05.2017

DIN No.:

07810035

 

 

Name :

Johannes Apitzsch

Designation :

Director

Address:

Nussbaumweg 17 Rathsberg Marloffstein 91080 De

Date of Appointment :

27.04.2012

DIN No.:

05259354

 

KEY EXECUTIVES

 

Name :

Mr. Ketan Thaker

Designation :

Company Secretary

Address:

C-906, Spring Leaf 5 CHS Limited, Lokhandwala Township, Akurli Road, Kandivli (East), Mumbai - 400101, Maharashtra, India

Date of Appointment :

02.08.2013

PAN No.:

ACVPT7223M

 

 

Audit Committee :

 

·         Mr. Yezdi H. Malegam - Chairman

·         Mr. Deepak S. Parekh

·         Mr. Keki B. Dadiseth

·         Mr. Johannes Apitzsch

 

 

Nomination and Remuneration Committee :
  • Mr. Yezdi H. Malegam - Chairman
  • Mr. Darius C. Shroff
  • Mr. Deepak S. Parekh
  • Mr. Joe Kaeser

·         Ms. Mariel von Schumann

 

 

Stakeholders Relationship

Committee :
  • Mr. Darius C. Shroff - Chairman

·         Mr. Sunil Mathur

 

 

Corporate Governance Committee :
  • Mr. Deepak S. Parekh - Chairman
  • Mr. Sunil Mathur
  • Mr. Christian Rummel

·         Ms. Mariel von Schumann

 

 

Risk Management Committee :
  • Mr. Yezdi H. Malegam - Chairman
  • Mr. Deepak S. Parekh
  • Mr. Keki B. Dadiseth

·         Mr. Johannes Apitzsch

 

 

Share Transfer Committee :

·         Mr. Sunil Mathur - Chairman

·         Mr. Christian Rummel

 

 

Corporate Governance

Committee :
  • Mr. Keki B. Dadiseth - Chairman
  • Mr. Deepak S. Parekh
  • Mr. Yezdi H. Malegam
  • Mr. Darius C. Shroff
  • Mr. Joe Kaeser
  • Dr. Roland Busch
  • Mr. Johannes Apitzsch

·         Mr. Sunil Mathur

 

 

SHAREHOLDING PATTERN

 

AS ON 31.12.2017

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of

(A) Promoter and Promoter Group

267089913

75.00

(B) Public

89030342

25.00

Grand Total

356120255

100.00

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of

A1) Indian

 

Any Other (specify)

267089913

75.00

Siemens Aktiengesellschaft, Germany

255351805

71.70

Siemens Metals Technologies Vermogensverwaltungs Gmbh

11738108

3.30

Sub Total A1

267089913

75.00

A2) Foreign

0.00

A=A1+A2

267089913

75.00

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a %

B1) Institutions

 

Mutual Funds/

11919831

3.35

Hdfc Trustee Company Limited

6717274

1.89

Reliance Capital Trustee Company Limited

3665847

1.03

Foreign Portfolio Investors

17114515

4.81

Financial Institutions/ Banks

222318

0.06

Insurance Companies

21633356

6.07

Life Insurance Corporation of India

17792877

5.00

Sub Total B1

50890020

14.29

B2) Central Government/ State Government(s)/ President of India

0.00

Central Government/ State Government(s)/ President of India

150

0.00

Sub Total B2

150

0.00

B3) Non-Institutions

0.00

Individual share capital upto INR 0.200 million

29947306

8.41

Individual share capital in excess of INR 0.200 million

678768

0.19

NBFCs registered with RBI

210828

0.06

Any Other (specify)

7303270

2.05

Trusts

435990

0.12

Non-Resident Indian (NRI)

1712596

0.48

Bodies Corporate

3894600

1.09

IEPF

435425

0.12

HUF

589845

0.17

Director or Director's Relatives

26000

0.01

Unclaimed or Suspense or Escrow Account

51974

0.01

Foreign Portfolio Investor (Category - III)

40

0.00

Clearing Members

156800

0.04

Sub Total B3

38140172

10.71

B=B1+B2+B3

89030342

25.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into following business segment :

 

- Power and Gas: - Provides products and solutions for generation of electricity from fossil and renewable fuels for utilities, independent power producers and engineering, procurement and construction (EPC) companies and the reliable transport of oil and natural gas.

 

- Energy Management: - Supplier of products, systems, solutions and services for transmission and distribution of electrical energy for power utilities and industrial companies. Portfolio ranges from systems for low-voltage grids and distribution grids to solutions for smart grids and energy automation systems to power supply systems for industrial plants and high-voltage transmission systems.

 

- Building Technologies: - Provider of safe, secure, energy-efficient and eco-friendly buildings and infrastructures. As a technology partner, consultant, service provider, systems integrator and product vendor, offerings range from fire safety, security, building automation, heating, ventilation, air conditioning and energy management.

 

- Mobility: - Supplier of solutions for passenger and freight transportation – including rail vehicles, rail automation systems, rail electrification systems, road traffic technology and IT solutions.

 

- Digital Factory: - Contains portfolio of leading edge software solutions and automation technologies covering the complete life cycle from product design and production execution to services for manufacturing companies.

 

- Process Industries and Drives: - Provides products, systems, solutions and services across entire life cycles for all industry sectors.

 

- Others:- Services provided to other group companies and lease rentals have been classified as “Others”.

 

  • Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus

 

  • Manufacturing of electric signaling, safety or traffic-control equipment 

 

  • Manufacture of general purpose machinery

 

  • Repair of fabricated metal products, machinery and equipment’s

 

  • Manufacture of electronic components

 

  • Manufacture of railway locomotives and rolling stock (Registered Activity)

 

 

Products :

Product Description

NIC Code

Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus

271

Manufacturing of electric signaling, safety or traffic-control equipment

279

Manufacture of general purpose machinery

281

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS – NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

Customers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

No. of Employees :

9551 (Approximately)

 

 

Bankers :

  • Citibank N. A.
  • Deutsche Bank AG
  • The Hongkong and Shanghai Banking Corporation Limited
  • Standard Chartered Bank
  • HDFC Bank Limited
  • ICICI Bank Limited
  • State Bank of India

 

Auditors

 

Name :

S.R. Batliboi and Company LLP

Chartered Accountants

Address:

14th Floor, The Ruby 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India

Tel No.:

91-22-61920000

Fax No.:

91-22-61921000

 

Cost Auditors :

 

Name :

R. Nanabhoy and Company

Cost Accountants

 

 

Secretarial Auditors :

 

Name :

Parikh Parekh and Associates

Chartered Accountants

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company:

Siemens AG

 

 

Subsidiary:

Siemens Rail Automation Private Limited, India

 

 

Fellow Subsidiaries:

 

 
  • Siemens Spa Algeria
  • Siemens S.A. Angola
  • Siemens S.A. Argentina
  • Siemens Limited Australia
  • Siemens Aktiengesellschaft Österreich Austria
  • Siemens Convergence Creators GmbH Austria
  • Siemens AG Österreich, Plant Rail Systems Austria
  • Siemens AG Österreich, Transformers Austria
  • ETM professional control GmbH Austria
  • Siemens Metals Technologies Vermögensverwaltungs GmbH Austria
  • Trench Austria GmbH Austria
  • Siemens W.L.L. Bahrain
  • Siemens Bangladesh Limited Bangladesh
  • Siemens S.A./N.V. Belgium
  • Siemens Healthcare SA/NV Belgium
  • Siemens Ltda. Brazil
  • Siemens Healthcare Diagnósticos S.A. Brazil
  • Siemens Eletroeletronica Limitada Brazil
  • Siemens Pte Limited, Brunei Branch Brunei
  • Siemens Canada Limited - Process Instruments Business Unit Canada
  • Siemens Canada Limited Canada
  • Siemens Canada Limited - RuggedCom Canada
  • Trench Limited Canada
  • Siemens Healthcare Diagnostics Manufacturing Limited Cayman Islands
  • Siemens S.A. Chile
  • Siemens Medium Voltage Switching Technologies (Wuxi) Limited China
  • Beijing Siemens Cerberus Electronics Limited China
  • Siemens High Voltage Switchgear Co., Limited , Shanghai China
  • Siemens Circuit Protection Systems Limited , Shanghai China
  • Siemens Electrical Apparatus Limited , Suzhou China
  • Siemens Switchgear Limited , Shanghai China
  • Siemens Power Plant Automation Limited China
  • Siemens Transformer (Jinan) Co., Limited China
  • Siemens Limited , China China
  • Siemens Electrical Drives Limited China
  • Siemens High Voltage Circuit Breaker Co., Limited , Hangzhou China
  • Siemens Factory Automation Engineering Limited China
  • Siemens Shanghai Medical Equipment Limited China
  • Siemens Numerical Control Limited , Nanjing China
  • Yangtze Delta Manufacturing Co. Limited , Hangzhou China
  • Siemens Healthcare Diagnostics (Shanghai) Co. Limited China
  • Siemens X-Ray Vacuum Technology Limited , Wuxi China
  • MWB (Shanghai) Co Limited China
  • Siemens Electrical Drives (Shanghai) Limited China
  • Trench High Voltage Products Limited , Shenyang China
  • Siemens Wiring Accessories Shandong Limited China
  • Siemens Power Automation Limited China
  • Siemens Transformer (Guangzhou) Co., Limited China
  • Siemens Mechanical Drive Systems (Tianjin) Co., Limited China
  • Siemens Shenzhen Magnetic Resonance Limited China
  • Siemens Industry Software (Shanghai) Co., Limited China
  • Siemens Standard Motors Limited China
  • Siemens International Trading Limited , Shanghai China
  • Siemens Industrial Turbomachinery (Huludao) Co. Limited China
  • Siemens S.A. Colombia
  • Siemens S.A. Costa Rica
  • Koncar-Energetski Transformatori, d.o.o. Croatia
  • Siemens, s.r.o. Czech Republic
  • Siemens, s.r.o., odstepny zavod Industrial Turbomachinery Czech Republic
  • OEZ s.r.o. Czech Republic
  • Siemens A/S Denmark
  • Siemens Wind Power A/S Denmark
  • Siemens Technologies S.A.E. Egypt
  • Siemens S.A. El Salvador
  • Siemens Osakeyhtiö Finland
  • Siemens SAS France
  • Siemens SAS, Division production Process Automation,
  • Usine de Haguenau
  • France
  • Trench France SAS France
  • Flender-Graffenstaden SAS France
  • Siemens Industry Software SAS France
  • SYKATEC Systeme, Komponenten, Anwendungstechnologie GmbH Germany
  • Weiss Spindeltechnologie GmbH Germany
  • Siemens Beteiligungen Inland GmbH Germany
  • Siemens Industriegetriebe GmbH Germany
  • Siemens Bank GmbH Germany
  • Siemens Industry Software GmbH Germany
  • Siemens Healthcare GmbH Germany
  • Dresser-Rand GmbH Germany
  • Siemens Compressor Systems GmbH Germany
  • HSP Hochspannungsgeräte GmbH Germany
  • Siemens Power Control GmbH Germany
  • Siemens Turbomachinery Equipment GmbH Germany
  • Siemens Healthcare Diagnostics Holding GmbH Germany
  • Siemens Healthcare Diagnostics Products GmbH Germany
  • Trench Germany GmbH Germany
  • evosoft GmbH Germany
  • Siemens Project Ventures GmbH Germany
  • Siemens Postal, Parcel & Airport Logistics GmbH Germany
  • Siemens Industrial Turbomachinery Limited Great Britain
  • Siemens S.A. Guatemala
  • Siemens Limited Hongkong
  • Siemens Healthcare Limited Hongkong
  • Siemens Industry Software Limited Hongkong
  • Siemens Zrt. Hungary
  • Siemens Zrt., Plant PG SU Budapest Hungary
  • Siemens Technology and Services Private Limited India
  • Siemens Convergence Creators Private Limited India
  • PETNET Radiopharmaceutical Solutions Private Limited India
  • Siemens Healthcare Private Limited India
  • Siemens Financial Services Private Limited India
  • Dresser-Rand India Private Limited India
  • Siemens Postal Parcel & Airport Logistics Private Limited India
  • Siemens Industry Software (India) Private Limited India
  • Siemens Wind Power Private Limited India
  • Preactor Software India Private Limited India
  • P.T. Siemens Indonesia Indonesia
  • PT. Siemens Industrial Power Indonesia
  • PT Dresser-Rand Services Indonesia Indonesia
  • Siemens Concentrated Solar Power Limited Israel
  • Siemens S.p.A. Italy
  • Trench Italia S.r.l. Italy
  • Siemens Transformers S.p.A. Italy
  • Yaskawa Siemens Automation & Drives Corp. Japan
  • Siemens K.K. Japan
  • Siemens Healthcare Diagnostics K.K. Japan
  • Siemens TOO Kazakhstan
  • Siemens Limited Seoul Korea
  • Siemens Electrical & Electronic Services K.S.C.C. Kuwait
  • Siemens Malaysia Sdn. Bhd. Malaysia
  • Siemens Servicios S.A. de C.V. Mexico
  • Siemens, S.A. de C.V. Mexico
  • Siemens S.A. Morocco
  • Siemens Plant Operations Tahaddart SARL Morocco
  • Siemens Wind Power Blades, SARL AU Morocco
  • Siemens Nederland N.V. Netherlands
  • Siemens Nederland N.V. - dependent ARE 456b Netherlands
  • NEM Energy B.V. Netherlands
  • Siemens Industry Software B.V. Netherlands
  • Siemens Limited Nigeria
  • Siemens AS Norway
  • Siemens L.L.C. Oman
  • Siemens Pakistan Engineering Co. Limited Pakistan
  • Siemens S.A.C. Peru
  • Siemens, Inc. Philippines
  • Siemens Power Operations, Inc. Philippines
  • Siemens Sp. z o.o. Poland
  • Siemens S.A. Portugal
  • Siemens W.L.L. Qatar
  • Siemens S.R.L. Romania
  • SIMEA S.R.L., Plan SEIT Sibiu Romania
  • OOO Siemens Russia
  • OOO Siemens Gas Turbine Technologies Russia
  • ISCOSA Industries and Maintenance Limited Saudi Arabia
  • Siemens Limited Saudi Arabia
  • Arabia Electric Limited (Equipment) Saudi Arabia
  • Siemens d.o.o. Beograd Serbia
  • Siemens Pte. Limited Singapore
  • Siemens Healthcare Pte. Limited Singapore
  • Siemens d.o.o. Slovakia
  • Siemens s.r.o. Slovakia
  • Siemens Proprietary Limited South Africa
  • Siemens S.A. Spain
  • Siemens Healthcare S.L.U. dARE, Getafe, SPA Spain
  • Fábrica Electrotécnica Josa, S.A. Spain
  • Siemens AB Sweden
  • Siemens Industrial Turbomachinery AB Sweden
  • Siemens Schweiz AG, Building Technologies Division,
  • International Headquarters Switzerland
  • Siemens Schweiz AG Switzerland
  • Siemens Limited Taiwan
  • Siemens Limited Thailand
  • Siemens S.A. Tunisia
  • Siemens Sanayi ve Ticaret A.S. Turkey
  • Siemens LLC UAE
  • SD (Middle East) LLC UAE
  • Siemens Ukraine Ukraine
  • Siemens Middle East Limited UAE
  • Siemens Healthcare FZ LLC UAE
  • Siemens plc United Kingdom
  • Siemens HC Limited MR Magnet Technology United Kingdom
  • Siemens Healthcare Limited United Kingdom
  • Siemens Protection Devices Limited United Kingdom
  • I DT Factory Congleton United Kingdom
  • Siemens Healthcare Diagnostics Manufacturing Limited United Kingdom
  • Siemens Transmission & Distribution Limited United Kingdom
  • Industrial Turbine Company (UK) Limited United Kingdom
  • Siemens Energy, Inc. USA
  • Siemens Demag Delaval Turbomachinery, Inc. USA
  • Siemens Corporation USA
  • Siemens Industry, Inc. USA
  • Siemens Healthcare Diagnostics Inc. USA
  • Siemens Product Lifecycle Management Software Inc. USA
  • Siemens Energy, Inc. (US) - Fossil Products (OPP) USA
  • Siemens Energy, Inc. (US) - Oil& Gas (PT2) USA
  • NEM USA Corp. USA
  • Siemens Medical Solutions USA, Inc. USA
  • Siemens Energy, Inc. (US) – Dist Gen (PRW) USA
  • Winergy Drive Systems Corporation USA
  • Siemens Power Generation Service Company, Limited USA
  • Siemens Wind Power Inc. USA
  • Dresser-Rand Company USA
  • eMeter Corporation USA
  • Siemens S.A. Uruguay
  • Siemens Limited Vietnam

 

 

Others Related Parties:

  • Siemens India Limited Indian Staff Provident Fund
  • Siemens India Limited Gratuity Fund
  • Indian School of business (Common director)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000000

Equity Shares

INR 2/- each

INR 2000.000 Million

 

 

 

 

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

356983950

Equity Shares

INR 2/- each

INR 714.000 Million

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

356120255

Equity Shares

INR 2/- each

INR 712.000 Million

 

 

 

 

 

a) Shares held by holding company and subsidiary of holding company:

 

255351805 Equity Shares of INR 2/- each, fully paid-up, are held by the holding company, Siemens AG, Germany.

 

11738108 Equity Shares of INR 2/- each, fully paid-up, are held by the Siemens Metal Technologies Vermogensverwaltungs GmbH (Formerly known as Siemens VAI Metals Technologies GmbH), a 100% subsidiary of Siemens AG, Germany.

 

Reconciliation of the number of shares outstanding at the beginning and at the end of the year:

 

Particular

 

Number

INR In Million

Shares outstanding at the beginning of the year

356120255

712.000

Shares issued/subscribed during the year

--

--

Shares outstanding at the end of the Year

356120255

712.000

 

* denotes figures less than a million.

 

c) Details of shareholders holding more than 5% shares in the Company as on 30 September:

 

Particular

No. of shares held

% of Holding

Siemens Aktiengesellschaft, Germany.

255351805

71.70%

 

As per records of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding both legal and beneficial ownerships of shares.

 

Details of aggregate number of shares issued for consideration other than cash and bonus shares issued during the period of five years immediately preceding 30 September:

 

Equity shares allotted as

 

30.09.2017

Fully paid up to the shareholders of Siemens VAI Metals Technologies Private Limited. in accordance with the scheme of amalgamation

11738108

Fully paid up to the shareholders of Siemens Power Engineering Private Limited. In accordance with the scheme of amalgamation

3461538

Fully paid up to the shareholders of Winergy Drive Systems India Private Limited. In accordance with the scheme of amalgamation

625139

 

e) Terms / rights attached to equity shares

 

The Company has only one class of equity shares having a par value of INR 2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees.

 

In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts (if any). The distribution will be in proportion to the number of equity shares held by the shareholders.

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET – (STANDALONE)

 

SOURCES OF FUNDS

 

30.09.2017

30.09.2016

30.09.2015

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

712.000

712.000

712.000

(b) Reserves & Surplus

76335.000

67496.000

50554.000

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

77047.000

68208.000

51266.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

554.000

390.000

1217.000

(d) long-term provisions

2019.000

2003.000

1840.000

(e) Trade payables

41.000

132.000

0.000

Total Non-current Liabilities (3)

2614.000

2525.000

3057.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 0.000

0.000

0.000

(b) Trade payables

26515.000

21920.000

23647.000

(c) Other current liabilities

16824.000

17726.000

12687.000

(d) Short-term provisions

8231.000

9160.000

14620.000

Total Current Liabilities (4)

51570.000

48806.000

50954.000

 

 

 

 

TOTAL

131231.000

119539.000

105277.000

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12212.000

11888.000

13522.000

(ii) Intangible Assets

1132.000

1164.000

89.000

(iii) Capital work-in-progress

1430.000

791.000

321.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

550.000

550.000

1686.000

(c) Deferred tax assets (net)

2442.000

3351.000

3175.000

(d)  Long-term Loan and Advances

2483.000

30.000

7260.000

(e) Other Non-current assets

7803.000

7687.000

1761.000

(f) Trade receivables

569.000

915.000

0.000

Total Non-Current Assets

28621.000

26376.000

27814.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

        0.000

0.000 

0.000

(b) Inventories

10165.000

9993.000

9509.000

(c) Trade receivables

34156.000

30059.000

30183.000

(d) Cash and cash equivalents

40713.000

35094.000

20959.000

(e) Short-term loans and advances

3733.000

3394.000

7698.000

(f) Other current assets

13843.000

14623.000

9114.000

Total Current Assets

102610.000

93163.000

77463.000

 

 

 

 

TOTAL

131231.000

119539.000

105277.000

 

 

PROFIT & LOSS ACCOUNT – (STANDALONE)

 

 

PARTICULARS

30.09.2017

30.09.2016

30.09.2015

 

SALES

 

 

 

 

 

Income

110148.000

108095.000

105124.000

 

 

Other Income

2547.000

1644.000

1604.000

 

 

TOTAL                                    

112695.000

109739.000

106728.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

32968.000

29002.000

24419.000

 

 

Purchases of Stock-in-Trade

19596.000

26115.000

24802.000

 

 

(Increase) / decrease in inventories of finished goods, work-in-progress

and traded goods

823.000

(1616.000)

1062.000

 

 

Project bought outs and other direct costs

20118.000

18311.000

20531.000

 

 

Employees benefits expense

13926.000

14139.000

13831.000

 

 

Other expenses

12205.000

11940.000

10742.000

 

 

Exceptional Items

(5675.000)

(29923.000)

(7828.000)

 

 

TOTAL                                    

93961.000

67968.000

87559.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

18734.000

41771.000

19169.000

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

77.000

91.000

49.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

18657.000

41680.000

19120.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

1966.000

2264.000

2156.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

16691.000

39416.000

16964.000

 

 

 

 

 

Less

TAX                                                                 

5355.000

10245.000

5131.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

11336.000

29171.000

11833.000

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

33831.000

20987.000

9374.000

 

 

 

 

 

 

Other comprehensive income

70.000

(254.000)

0.000

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Interim dividend

0.000

9793.000

0.000

 

Tax on interim dividend

0.000

1994.000

0.000

 

Proposed dividend

2137.000

3561.000

3561.000

 

Tax on proposed dividend

435.000

725.000

725.000

 

Total

2572.000

16073.000

4286.000

 

 

 

 

 

 

Balance Carried to the B/S

42665.000

33831.000

16921.000

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Exports of goods Direct on FOB basis

NA

10384.000

8186.000

 

 

Project Business (Based on Actual Billing)

NA

1539.000

5374.000

 

 

Commission

NA

307.000

541.000

 

 

Service charges and others

NA

4862.000

3459.000

 

TOTAL EARNINGS

NA

17092.000

17560.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw materials, components, spare parts and traded goods

NA

36749.000

33087.000

 

 

Capital Goods

NA

581.000

317.000

 

TOTAL IMPORTS

NA

37330.000

33404.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

 

 

Basic

19.80

17.47

16.95

 

Diluted

31.83

81.91

33.23

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

30.09.2017

30.09.2016

 

30.09.2015

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

13652.000

8575.000

8473.000

Net cash flows from (used in) operations

5538.000

5082.000

6180.000

 

            QUARTERLY RESULTS

 

Particulars

 

 

31.12.2017

 (Unaudited)

31.03.2018

(Unaudited)

 

 

1st Quarter

2nd Quarter

Net Sales

 

24295.000

32834.000

Total Expenditure

 

21571.000

29606.000

PBIDT (Excl OI)

 

2724.000

3228.000

Other Income

 

705.000

639.000

Operating Profit

 

3429.000

3867.000

Interest

 

17.000

11.000

Exceptional Items

 

NA

NA

PBDT

 

3412.000

3856.000

Depreciation

 

470.000

490.000

Profit Before Tax

 

2942.000

3366.000

Tax

 

1037.000

1169.000

Provisions and contingencies

 

NA

NA

Profit After Tax

 

1905.00

2197.000

Extraordinary Items

 

NA

NA

Prior Period Expenses

 

NA

NA

Other Adjustments

 

NA

NA

Net Profit

 

1905.000

2197.000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

30.09.2017

30.09.2016

 

30.09.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

113.18

101.50

104.80

 

 

 

 

Account Receivables Turnover

( Income / Sundry Debtors)

3.22

3.60

3.48

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

184.12

145.16

175.36

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.84

4.18

2.02

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

1.27

3.02

1.38

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

30.09.2017

30.09.2016

 

30.09.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.39

0.41

0.48

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.00

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.67

0.72

0.99

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.19

0.20

0.27

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

243.30

459.02

391.20

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

30.09.2017

30.09.2016

 

30.09.2015

Net Profit Margin

[(PAT / Sales) * 100]

%

10.29

26.99

11.26

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

8.64

24.40

11.24

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

14.71

42.77

23.08

 

SOLVENCY RATIOS

 

PARTICULARS

 

30.09.2017

30.09.2016

 

30.09.2015

Current Ratio

(Current Assets / Current Liabilities)

1.99

1.91

1.52

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.79

1.70

1.33

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.59

0.57

0.49

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.00

0.00

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.99

1.91

1.52

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

STOCK PRICES

 

Face Value

INR 2.00/-

Market Value

INR 1045/-

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

30.09.2015

30.09.2016

30.09.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

712.000

712.000

712.000

Reserves & Surplus

50554.000

67496.000

76335.000

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

51266.000

68208.000

77047.000

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

30.09.2015

30.09.2016

30.09.2017

 

INR In Million

INR In Million

INR In Million

Sales

105124.000

108095.000

110148.000

 

 

2.826

1.899

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

30.09.2015

30.09.2016

30.09.2017

 

INR In Million

INR In Million

INR In Million

Sales

105124.000

108095.000

110148.000

Profit

11833.000

29171.000

11336.000

 

11.26%

26.99%

10.29%

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

30.09.2017

30.09.2016

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

712.000

712.000

(b) Reserves & Surplus

 

76194.000

67325.000

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(d) Minority Interest

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

76906.000

68037.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

554.000

391.000

(d) long-term provisions

 

2028.000

2011.000

(e) Trade Payables

 

41.000

132.000

Total Non-current Liabilities (3)

 

2623.000

2534.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

252.000

(b) Trade payables

 

26640.000

22008.000

(c) Other current liabilities

 

16971.000

17862.000

(d) Short-term provisions

 

8242.000

9170.000

Total Current Liabilities (4)

 

51853.000

49292.000

 

 

 

 

TOTAL

 

131382.000

119863.000

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

12234.000

11921.000

(ii) Intangible Assets

 

1134.000

1165.000

(iii) Capital work-in-progress

 

1430.000

791.000

(iv) Goodwill on consolidation

 

282.000

282.000

(v) Intangible assets under development

 

0.000

 0.000

(b) Non-current Investments

 

0.000

 0.000

(c) Deferred tax assets (net)

 

2482.000

3358.000

(d)  Long-term Loan and Advances

 

2483.000

30.000

(e) Other Non-current assets

 

7918.000

7794.000

(f) Trade receivables

 

582.000

940.000

Total Non-Current Assets

 

28545.000

26281.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

 

(b) Inventories

 

10214.000

10108.000

(c) Trade receivables

 

34304.000

30285.000

(d) Cash and cash equivalents

 

40748.000

35103.000

(e) Short-term loans and advances

 

3583.000

3343.000

(f) Other current assets

 

13988.000

14743.000

Total Current Assets

 

102837.000

93582.000

 

 

 

 

TOTAL

 

131382.000

119863.000

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

30.09.2017

30.09.2016

 

SALES

 

 

 

 

Income

 

110647.000

108366.000

 

Other Income

 

2532.000

1642.000

 

TOTAL

 

113179.000

110008.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

32968.000

29002.000

 

Purchases of Stock-in-Trade

 

19596.000

26115.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

823.000

(1616.000)

 

Project bought outs and other direct costs

 

20418.000

18421.000

 

Employees benefits expense

 

14024.000

14233.000

 

Other expenses

 

12278.000

12007.000

 

Exceptional Items

 

(5675.000)

(29923.000)

 

TOTAL

 

94432.000

68239.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

18747.000

41769.000

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

79.000

111.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

18668.000

41658.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

1978.000

2276.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

16690.000

39382.000

 

 

 

 

 

Less

TAX

 

5323.000

10245.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

11367.000

29137.000

 

 

 

 

 

 

Earnings Per Share (INR)

 

 

 

 

Basic

 

19.89

17.38

 

Diluted

 

31.92

81.82

 

 

LEGAL CASES

 

Case Details

Bench:- Bombay

Presentation Date:- 22/03/2016

Lodging No. :

ITXAL/355/2016

Failing Date:-

22/03/2016

Reg. No.:-

ITXA/1274/2016

Reg. Date:-

21/07/2016

Petitioner:-

 

PR. COMMISSIONER OF INCOME TAX - 8

Respondent:-

SIEMENS LIMITED-

Petn.Adv:-

SURESH KUMAR (I2100)

Resp. Adv.:

PDS LEGAL (0)

District:-

MUMBAI

Bench:-

DIVISION

Category:-

TAX APPEALS

Status:-

Pre-Admission

Stage:-

FOR ADMISSION – FRESH

Next Date:-

18/01/2018

Coram:-

ACCORDING TO SITTING LIST

ACCORDING TO SITTING LIST

 

 

Act. :

Income Tax Act,1961

Under Section 260A

 

Case Details

Bench:- Bombay

Presentation Date:- 07/072017

Lodging No. :

CEXAL/82/2017

Failing Date:-

07/07/2017

Reg. No.:-

CEXA/198/2017

Reg. Date:-

01/08/2017

Petitioner:-

 

PRINCIPAL COMMISSIONER OF CGST AND CENTRAL EXCISE-

Respondent:-

SIEMENS LIMITED

Petn.Adv:-

RUJU R. THAKKER (I9588)

Resp. Adv.:

PDS LEGAL (826)

District:-

MUMBAI

Bench:-

DIVISION

Category:-

CENTRAL EXCISE APPEAL (CEXA)

Status:-

Pre-Admission

Stage:-

FOR ADMMISSION

Next Date:-

20/12/2017

Coram:-

HON’BLE SHRI JUSTICE M.S. SANKLECHA

HON’BLE SHRI JUSTICE R. I. CHAGLA

Last Date :

24/11/2017

Stage:-

FOR ADMMISSION - FRESH

Last Coram:-

HON’BLE SHRI JUSTICE A.S. OKA

HON’BLE SHRI JUSTICE A. K. MENON

Act. :

Central Excise and Salt Act

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

--

5

Buyer visit details

No 

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: The registered office of the company has been shifted from “130, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Maharashtra, India” to the present address w.e.f. 01.06.2017

 

CORPORATE INFORMATION

The Company is a public company domiciled in India with its registered office at Birla Aurora, Level 21, Plot No. 1080 Dr. Annie Besant Road, Worli Mumbai – 400030. The Company is listed on National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange of India Limited (BSE).

 

The Company offers products integrated solutions for industrial applications for manufacturing industries, drives for process industries, intelligent infrastructure and buildings, efficient and clean power generation from fossil fuels and oil and gas applications, transmission and distribution of electrical energy and for passenger and freight transportation, including rail vehicles, rail automation and rail electrification systems.

 

Operations

The Turnover of the Company was INR 113483 million for the year ended 30th September, 2017 as compared to  INR 112295 million in the previous year. The Company’s Profit from Operations for the year ended 30th September, 2017 was INR 8546 million as compared to INR 7,940 million in the previous year. The Profit after Tax for the year ended 30th September, 2017 was INR 11336 million as compared to INR 29171 million during FY 2015-16

 

MANAGEMENT'S DISCUSSION AND ANALYSIS

 

General Performance Review

During the financial year 2017, Siemens Limited operated in a mixed market environment, with large orders primarily being driven by government investments in transmission and distribution. Private sector capital expenditure continued to show muted growth.

 

In addition, the improving ‘ease of doing business’ boosted positive sentiment for foreign investment into India while large corporates across sectors such as oil and gas, steel and cement announced plans for capacity expansion. Continuing with the reforms of the previous years, the Government announced further reform measures such as Saubhagya scheme for complete electrification of India, bank recapitalization, insolvency rules, Goods and Services Tax and demonetization.

 

The retail inflation rate remained at a lower rate in financial year 2017 compared to the previous year prompting the Reserve Bank of India to reduce benchmark interest rates to a seven-year low. The Index of Industrial Production rose by 4.6% annually compared to 3.3% in 2016. However, capacity utilization, an indicator of manufacturing growth, remained stable at 71.2% compared to 71.7% in the same period last year.

 

During financial year 2017, New Orders were up by 12 percent at INR 135,736 million, compared with INR 121,199 million in financial year 2015-16. Sales (excluding Other Operating Revenues) were up by 1 percent to INR 110,602 million, compared with INR 109,642 million in financial year

2015-16, while Profit after Tax (PAT) was at INR 11,336 million compared with INR 29,171 million in financial year 2015-16. During financial year 2016-17 the exceptional items stood at INR 5,675 million, compared with INR 29,923 million in financial year 2015-16.

 

 

Operational Performance

The Company’s business is aligned into Divisions: Power and Gas, Energy Management, Mobility, Building Technologies, Digital Factory and Process Industries & Drives.

 

POWER AND GAS

Power and Gas Division offers a broad spectrum of products and solutions for reliable, efficient and clean power for generation of electricity from fossil fuels and for the reliable generation of power for oil and gas as well as for industrial applications. Customers are Utilities, Independent Power producers and Engineering, Procurement and Construction (EPC) companies as well as businesses in industries such as oil and gas, sugar, cement, etc.

 

The Division continued to operate in challenging domestic market conditions. Order growth in the Division was mainly driven by industrial (small) steam turbines in both domestic and export markets and service-related projects. The thermal-based power generation market (large gas and steam turbine) continues to face challenges due to various factors like subdued demand, lower industrial growth and lower plant load factory of installed thermal plants, inadequate  gas availability, measures to encourage renewable energy and a shift toward smaller-scale projects and localization. The  power plants in India still operate with overcapacities. Among the highlights, the Division won an order worth approximately INR 3660 million from Oil and Natural Gas Corporation Limited for overhauling of power turbines through zero-hour overhaul and time continued overhaul concepts.

 

For financial year 2016-17, the New Orders were up by 37 percent to INR 18,357 million, Sales up by 1 percent to INR 14,125 million, while Profit from Operations was INR 2,015 million compared to INR 1,373 million in the previous year.

 

Outlook

The Power and Gas Division expects energy demand to grow in the mid-term mirroring the GDP growth. Several policies and initiatives under implementation by the Government of India like new steel policy, increased nuclear power, and promotion of electric vehicles are expected to revive the overall Power Generation sector. Policies like Hydrocarbon Exploration and Licensing Policy (HELP) are expected to benefit the Oil and Gas sector in the future. The Division continues to develop solutions to build on “Make in India” and “24/7 power for all” programs. It will use local capabilities to provide engineering for global projects and manufacture steam turbines for India and export.

 

ENERGY MANAGEMENT

Energy Management Division is a supplier of products, systems, solutions and services for Transmission & Distribution, Management & Control of electrical energy. Its electrification portfolio ranges from Low voltage Products for domestic electrification, through products, systems & solutions for electrification of Medium Voltage Distribution and Ultra high Voltage Transmission Grids. Portfolio also covers Automation & Digitalization products & solutions for all elements of power value chain. Its customers are Central & State Utilities, Private Transmission & Distribution System Operators and Industries. During the financial year 2016-17, the market for Energy Management solutions remained highly competitive with large investment from Utilities and muted capex from Industrial Customers. Among the key highlights in financial year 2016-17, a consortium of Siemens and Sumitomo Electric Industries Limited was awarded an order from Power Grid Corporation of India Limited to supply a high-voltage direct current (HVDC) transmission system. The total size of the order won by the consortium is US $520 million, of which the share of Siemens Limited is approximately INR 16.82 billion. The Division also won several other key orders. It won orders for Air Insulated Switchgear from Bangladesh Rural Electrification Board (BREB), Dhaka (worth approximately ` 1,874 million) and from Sterlite Power Grid Ventures Limited (worth approximately ` 1,190 million). In addition, it also won an order worth approximately ` 1,010 million from Delhi Transco Limited for Gas Insulated Switchgear substations.

 

2016-17, the Division benefited from Government initiatives to enhance rail capacity and improve rail transportation, which led to awarding of various projects in both mainline and in the metro segments. The Mobility Division won multiple contracts from Nagpur Metro for Overhead Electrification, Signaling and Depot, the Propulsion equipment orders from Diesel Locomotive Works, the Hotel Load Converters from Chittaranjan Locomotive Works, Electronic Interlocking contracts for Indian Railways and annual maintenance contracts (AMCs) for Electric Multiple Units for Mumbai Central Railways. For financial year 2016-17, New Orders were up by 11 percent to ` 12,452 million, Sales up by 9 percent to ` 11,855 million, while Profit from Operations was ` 903 million compared to ` 676 million in the previous year.

 

Outlook

The outlook for Mobility Division is dependent on Indian Railways initiatives towards modernization and electrification, which are on the right track. The Government is also increasing its focus on safety, infrastructure development, electrification and energy efficiency. Further, plans to award Public-Private Partnership projects for supply and manufacturing of EMUs, dedicated freight corridors, high-speed rail and metro projects are expected to boost the country’s rail sector.

 

DIGITAL FACTORY

Digital Factory Division offers a comprehensive portfolio of software products and automation technologies for industrial applications covering the entire life cycle, from product design and production execution to after-sales services. Siemens helps its customers in the manufacturing sector enhance the flexibility and efficiency of their production processes, thereby boosting their competitiveness with comprehensive Digital Enterprise Suite. These solutions are supplied to customers in various discrete industries, General Engineering segments and Original Equipment Manufacturers (OEMs) engaged in machine tools, printing, packaging and electrical panel manufacturing. During the financial year 2016-17, Digital Factory Division witnessed order pick-up in the automotive, tyre, food & beverage, pharmaceutical and infrastructure related segments amid an overall sluggish capital expenditure environment in the private sector. The Division maintained steady growth amid continued lower capital expenditure by customers. Among the highlights, the Division inaugurated its showcase digitalized low-voltage Switchgear factory at Kalwa. The globally-benchmarked factory is capable of producing more than 180 variants at the rate of one product every nine seconds. For financial year 2016-17, the New Orders were up by 10 percent to 19,727 million, Sales up by 9 percent to 19,134 million, while Profit from Operations was 1,230 million compared to 1,246 million in the previous year.

 

Outlook

Manufacturing-led growth and greater adoption of Digitalization / Industry 4.0 is expected to boost demand for factory automation, software and data analytics (via MindSphere, open IoT cloud platform), especially in greenfield and brownfield projects in the automotive, food processing and Pharmaceuticals sectors. It foresees demand to pick up, driven by the increasing focus among customers on cost productivity, energy savings and regulatory compliance through retrofit and modernization of equipments. Private sector capital expenditure is muted and is expected to pick up only when existing capacities are utilized.

 

 

PROCESS INDUSTRIES & DRIVES

Process Industries and Drives Division offers a comprehensive portfolio for Industrial application and solutions in the field of Automation and Drives for process industries such as Chemical, Pharmaceuticals, Food and    Beverages, Water and Waste Water, Cement, Mining, Oil & Gas, Paper and Marines. The business environment in which Process Industries and Drives Division operates is primarily driven by core sector industries. It continued to face a challenging business environment during the financial year, which saw government spending on infrastructure gradually increasing while greenfield private sector investments remained sluggish. During the financial year, the Division announced the launch of its new range of energy efficient motor SIMOTICS 1LE7. The Division received recognition for its motors: India High and premium efficiency electric motors Enabling Technology Leadership Award from Frost & Sullivan and “Champion in Energy Efficiency” award from Tata Steel. The Division also won orders from various government and private customers across Cement, Pharmaceuticals, Defence, Mining, Industrial, Shipping and Ports. With customers seeking solutions for managing variability and enhancing productivity, improving quality controls and safety, the Division witnessed a demand for solutions that included process automation and instrumentation. For financial year 2016-17, the New Orders were up by 29 percent to INR 19,650 million, Sales up by 8 percent to INR 17,668 million, while Profit from Operations was INR 545 million compared to INR 987 million in the previous year.

 

Outlook

The Division expects the market demand for automation and digitalization to pick up, driven by investments in integrated engineering and operations in process industries.

 

INDEX OF CHARGE:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G44978898

90229627

HDFC BANK LIMITED

01/12/2000

25/05/2017

-

7560000000.0

HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL West Mumbai MAHARASHTRA 400013 INDIA

2

Y10193441

90103749

BANK OF BARODA

04/09/2000

11/10/2001

-

40000000.0

R.C. DUTT ROADALKAPURI BRANCH BARODA GUJARAT INDIA

3

Y10330112

90227321

AMERCAN EXPRESS BANK LTD

26/12/1972

-

-

127500000.0

364 DADABHAI NAOMJI ROAD BOMBAY MAHARASHTRA 400001 INDIA

4

B63499891

90283612

STATE BANAKOF INDIA

10/03/1995

01/12/2005

04/12/2012

309000000.0

INDUSTRIAL FINANCE BRANCH CHENNAI TAMILNADU 600002 INDIA

5

B63498737

90284316

STATE BANK OF INDIA

14/09/2004

14/09/2004

04/12/2012

103500000.0

INDUSTRIAL FINANCE BRANCH CHENNAI TAMILNADU 600002 INDIA

6

B58197567

90282998

PUNJAB NATIONAL BANK

30/06/1998

-

14/09/2012

3300000.0

TEYNAMPET BRANCHELDAMS ROAD CHENNAI TAMILNADU INDIA

7

B57241424

90282264

PUNJAB NATIONAL BANK

25/04/2000

-

05/09/2012

1750000.0

TEYNAMPET BRANCHELDAMS ROAD CHENNAI TAMILNADU INDIA

8

B58195454

90282146

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

17/06/1998

-

31/08/2012

7500000.0

10/10MADAN MOHAN MALVIYA MARG LUCKNOW UTTAR PRADESH 226001 INDIA

9

B57231730

90284106

STATE BANK OF MYSORE

11/01/2002

19/08/2009

17/08/2012

9000000.0

67 CP RAMASWAMY ROAD ABHIRAMAPURAM CHENNAI TAMILNADU 600018IN

10

B57234122

90283101

STATE BANK OF MYSORE

21/11/2000

-

17/08/2012

2000000.0

ABHIRAMAPURAM BRANCH CHENNAI TAMILNADU 600018 INDIA

 

WEBSITE DETAILS

 

PRESS RELEASE

 

Date 06.02.2018

 

For the first quarter of Financial Year 2018 ended December 31, 2017, Siemens Limited registered a Revenue of INR 23630.000 million which amounts to a 5.8% increase in Revenue (excluding the impact of transition from Excise Duty to GST)  over the same quarter in the preceding year.

 

Profit after Tax for the first quarter of Financial Year 2018 was INR 1910.000 million, up by 18.6% over the same period last year. New Orders for the period stood at INR 32570.000 million, up by 2.1%.

 

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “While our Revenue growth comes largely out of our strong Order Backlog, which as at 30th September 2017, stood at an all-time high of INR 122630.000 million, orders continue to grow primarily from the infrastructure sector and digitalization projects.” 


STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND ENDED

31.12.2017

(INR In Million)

 

 

Particulars

Quarter Ended

31.03.2018

31.12.2017

Unaudited

Unaudited

 

 

 

Revenue from Operations

 

 

Gross Sales / Income from Operations

31631.0000

23632.000

Other operating income

1203.000

663.000

Total income from operations

32834.000

24295.000

Other Income

639.000

705.000

Total Income

33473.000

25000.000

 

 

 

Expenditure

 

 

Cost of materials consumed

15245.000

11747.000

Purchase of stock-in-trade

7389.000

5513.000

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(90.000)

(1216.000)

Excise Duty

0.000

0.000

Employee benefits expense

3653.000

3398.000

Finance Costs

11.000

17.000

Depreciation and amortisation expense

490.000

470.000

Other expenses

3409.000

2129.000

Total Expenses

30107.000

22058.000

Profit / (Loss) before Exceptional items

3366.000

2942.000

Exceptional items

0.000

0.000

Profit/ (Loss) from ordinary activities before tax

3366.000

2942.000

Tax expenses

1169.000

1037.000

Net Profit / (Loss) from ordinary activities after tax 

2197.000

1905.000

Other Comprehensive income/(Loss)

 

 

Items that will not be reclassified to profit or loss

 

 

Re –measurement gains/(Losses) on defined benefit plans

(102.000)

0.000

Income tax effect

35.000

0.000

Items that will not be reclassified to profit or loss

(8.000)

1.000

Total Comprehensive income/(Loss)

(75.000)

1.000

Total Comprehensive income (including other comprehensive income)

2122.000

1906.000

Paid-up equity share capital (Face Value of equity shares: INR 2 each fully paid up)

712.000

712.000

Reserve excluding Revaluation reserve

 

 

Earnings Per Share (EPS) before and after extraordinary items (of INR 2/- each)

a) Basic

b) Diluted

6.17

6.17

5.35

5.35

 

STATE OF ASSETS AND LIABILITIES

 

SOURCES OF FUNDS

 

 

31.03.2018

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

712.000

(b) Reserves & Surplus

 

 

77360.000

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

78072.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.000

(b) Deferred tax liabilities (Net)

 

 

0.000

(c) Other long term liabilities

 

 

519.000

(d) long-term provisions

 

 

2253.000

(e) Trade payables

 

 

7.000

Total Non-current Liabilities (3)

 

 

2779.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

0.000

(b) Trade payables

 

 

27985.000

(c) Other current liabilities

 

 

15149.000

(d) Short-term provisions

 

 

8235.000

Total Current Liabilities (4)

 

 

51369.000

 

 

 

 

TOTAL

 

 

132220.000

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

12586.000

(ii) Intangible Assets

 

 

1104.000

(iii) Capital work-in-progress

 

 

658.000

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

550.000

(c) Deferred tax assets (net)

 

 

2335.000

(d)  Long-term Loan and Advances

 

 

3521.000

(e) Other Non-current assets

 

 

9017.000

(f) Trade receivables

 

 

450.000

Total Non-Current Assets

 

 

30221.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

 

(b) Inventories

 

 

12582.000

(c) Trade receivables

 

 

34322.000

(d) Cash and cash equivalents

 

 

33928.000

(e) Short-term loans and advances

 

 

4107.000

(f) Other current assets

 

 

17060.000

Total Current Assets

 

 

101999.000

 

 

 

 

TOTAL

 

 

132220.000

 

 

SEGMENT WISE REVENUE, RESULTS ASSETS AND LIABILITIES FOR THE QUARTER ENDED 31.12.2017

(INR In Million)

Sr.

No.

 

 

Particulars

 

Quarter Ended

31.03.2018

31.12.2017

Unaudited

Unaudited

1.

Segment Revenue

 

 

 

Power and Gas

3699.000

2982.000

 

Energy Management

14842.000

10365.000

 

Building Technologies

1245.000

890.000

 

Mobility

2079.000

2051.000

 

Digital Factory

6204.000

5046.000

 

Process Industries and Drives

5670.000

4013.000

 

Others

445.000

270.000

 

Total

34184.000

25617.000

 

Less: Inter Segment Revenue

(1350.000)

(1322.000)

 

Total

32834.000

24295.000

 

 

 

 

2.

Segment Results

 

 

 

Power and Gas

441.000

539.000

 

Energy Management

1242.000

1099.000

 

Building Technologies

111.000

65.000

 

Mobility

156.000

115.000

 

Digital Factory

435.000

408.000

 

Process Industries and Drives

249.000

(42.000)

 

Others

104.000

70.000

 

Profit Before Tax

2738.000

2254

 

Add:

 

 

 

Other Income

639.000

705.000

 

Exceptional Items

0.000

0.000

 

Less: Finance Cost

11.000

17.000

 

Total Profit Before Taxation

3366.000

2942.000

 

 

 

 

3.

Segment Assets

 

 

 

Power and Gas

9478.000

9510.000

 

Energy Management

38348.000

37602.000

 

Building Technologies

1988.000

1939.000

 

Mobility

6568.000

6164.000

 

Digital Factory

7896.000

7979.000

 

Process Industries and Drives

12052.000

11293.000

 

Others

3145.000

3226.000

 

Unallocated (including cash and bank balances)

52745.000

54195.000

 

Total Assets

132220.000

131908.000

 

 

 

 

4.

Segment Liabilities

 

 

 

Power and Gas

9055.000

8111.000

 

Energy Management

22369.000

21232.000

 

Building Technologies

1604.000

1401.000

 

Mobility

4287.000

3435.000

 

Digital Factory

5965.000

6428.000

 

Process Industries and Drives

7213.000

7072.000

 

Others

1026.000

989.000

 

Unallocated (including cash and bank balances)

2629.000

4286.000

 

Total

54148.000

52954.000

 

CONTINGENT LIABILITIES (TO THE EXTENT NOT PROVIDED FOR)

(INR In Million)

Particulars

30.09.2017

30.09.2016

 

 

 

Income tax (excluding interest)

5703.000

4201.000

Excise, service tax and sales tax liabilities, under dispute

9587.000

7360.000

Customs liabilities, under dispute

120.000

120.000

Claims against the Company not acknowledged as debts

180.000

366.000

 

 

FIXED ASSETS:

 

Tangible assets

 

  • Freehold land
  • Buildings
  • Plant and equipment’s
  • Furniture and furniture
  • Office equipment
  • Vehicle

Intangible assets

 

  • Technical knowhow
  • Software

 

 

 

 

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 67.52

UK Pound

1

INR 91.48

Euro

1

INR 80.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

PRA

 

 

Report Prepared by :

RKI

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.