MIRA
INFORM REPORT
|
Report Date : |
15th
June, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
GLOBAL
E BUSINESS OPERATIONS PRIVATE LIMITED |
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|
|
|
Registered Office : |
Golf View Campus, HP Tower, 1, 2 & 3, Wind
Tunnel Road, Murugeshpalya, Bangalore – 560017, Karnataka, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
29.09.2000 |
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Com. Reg. No.: |
08-27867 |
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CIN No.: [Company
Identification No.] |
U72300KA2000PTC027867 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRG05491D BLRG05855D |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Exporters
and Importers. It is also engaged in
back office operations, data processing and support services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
Maximum Credit Limit : |
USD
800000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a part of Hewlett. Packard Group. Available Information indicates high
financial responsibility of the company. Financial position is good. Trade
relations are fair. Payments are correct and as per commitments. The
company is doing very well. It can be regarded as a promising business in a
medium to long run. |
LOCATIONS
|
Registered Office : |
Golf View Campus, HP Tower, 1, 2 & 3, Wind
Tunnel Road, Murugeshpalya, Bangalore – 560017, Karnataka, India |
|
Tel. No.: |
91-80-25200601
- 35/5202545/2645 |
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Fax No.: |
91-80-25276820 |
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E-Mail : |
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Website : |
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Area : |
50000
sq. fts |
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Location : |
Rented |
DIRECTORS
|
Name : |
Mr.
Vivek Shantaram Nagarkatti |
|
Designation : |
Whole Time Director |
|
Address : |
Flat 1-B, Lumebini Apartments, 5, Rest
House Road, Bangalore- 560001, Karnataka, India |
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Date of Birth/Age : |
05.09.1950 |
|
Date of Appointment : |
18.05.2001 |
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|
|
|
Name : |
Mr. Juergen Otto Reiners |
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Designation : |
Director |
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Address : |
Kastanjedreef 3, at 3090, Weristse,
Belgium |
|
Date of Appointment : |
10.11.2000 |
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|
|
|
Name : |
Mr. Robeert Lee Schultz |
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Designation : |
Director |
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Address : |
530,
Silver Saddle Road, Monument Co – 80132, USA |
|
Date of Appointment : |
10.11.2000 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Balu Doraisamy |
2 |
|
Hewlett
Packard Global Investment BV |
931000 |
BUSINESS DETAILS
|
Line of Business : |
Exporters
and Importers. It is also engaged in
back office operations, data processing and support services. |
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Imports from : |
Germany |
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Terms : |
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Selling : |
L/C or
Credit [30 days] |
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Purchasing : |
L/C,
Cash or Credit [30 days] |
GENERAL
INFORMATION
|
Customers : |
End
users, OEM’s and others. |
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|
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No. of Employees : |
150 |
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Bankers : |
Not
Avialable |
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Facilities : |
-- |
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Banking Relations : |
Good |
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Auditors : |
S. R.
Batliboi & Company |
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Qualification: |
Chartered
Accountants |
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Address: |
Langford
Road, Bangalore – 560025, Karnataka, India |
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Tel. No.: |
91-80-2245646/49
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Group Companies: |
v
Hewlett-
Packard Company USA v
Hewlett
– Packard Gmbh v
Hewlett
– Packard v
Shanghai
Hewlett – Packard Company Limited v
Hewlett
– Packard Ireland Limited v
Hewlett
– Packard Japan Limited v
Hewlett
– Packard de Mexico SA DE CV v
Hewlett
– Packard Singapore Pte. Ltd. v
Hewlett
– Packard Espanola SA v
Compaq
Computer Asia Pte Ltd v
Hewlett
– Packard India Sales Private Limited v
Hewlett
– Packard India Software Operations India Private Limited v
Hewlett
– Packard Co – ordination Centre v
Hewlett
– Packard Grenoble v
Hewlett
– Packard Computadores LTDA AV v
China
Hard Copy Operations v
Hewlett
– Packard Europe BV v
Hewlett
– Packard Far east Pte Ltd. v
Hewlett
– Packard FSC v
International
Rebilling Hewlett – Packard FSC v
HP
technology Centre v
Hewlett
– Packard Singapore (Sales) Pte Ltd, v
Hewlett
– Packard Trading (Shanghai) Company v
Hewlett
– Packard Asia Pacific Limited v
Hewlett
– Packard Global Soft Limited v
Hewlett
– Packard (Canada) Company v
Hewlett
– Packard Centre De Competences v
Hewlett
– Packard Australia Pty Ltd. v
Hewlett
– Packard International Bank v
Hewlett
– Packard Ltd. Bristol v
Hewlett
– Packard Pte Limited v
HP
Thailand Manufacturing (Thailand)
Limited v
HP
technology Licences & Licensing Limited v
Hewlett
– Packard Espanola v
Hewlett
– Packard Malaysia v
Hewlett
– Packard EMEA Gmbh v
Hewlett
– Packard Caribe BV v
HP
Philippines Corporation v
Dublin
Inject Manufacturing Operation v
Hewlett
– Packard Costa Rica Limitada v
Hewlett
– Packard Financial Services Company v
Hewlett
– Packard AP (Hong Kong) Limited |
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Parent Company: |
Hewlett
– Packard Europe BV, The Netherlands |
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Holding Company: |
v
Hewlett
– Packard Company – USA v
Hewlett
– Packard Global Investment BV |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
931002 |
Equity
Shares |
Rs. 10/- each |
Rs. 9.310 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
9.310 |
9.310 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
195.017 |
0.000 |
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|
4] (Accumulated Losses) |
|
0.000 |
(53.583) |
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|
NETWORTH |
|
204.327 |
(44.273) |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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|
2] Unsecured Loans |
|
736.948 |
781.328 |
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TOTAL BORROWING |
|
736.948 |
781.328 |
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|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
941.275 |
737.055 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
652.722 |
460.791 |
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Capital work-in-progress |
|
0.000 |
10.841 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
174.401 |
187.583 |
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Cash & Bank Balances |
|
192.842 |
167.755 |
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|
Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
336.708 |
205.548 |
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Total Current Assets |
|
703.951 |
560.886 |
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|
Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
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|
Current Liabilities |
|
188.215 |
102.516 |
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|
Provisions |
|
227.183 |
192.947 |
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Total Current Liabilities |
|
415.398 |
295.463 |
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Net Current Assets |
|
288.553 |
265.423 |
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|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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|
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TOTAL |
|
941.275 |
737.055 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
2498.536 |
1444.654 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
262.890 |
130.626 |
|
Provision
for Taxation |
|
14.289 |
0.836 |
|
Profit/(Loss)
After Tax |
|
248.601 |
129.790 |
|
|
|
|
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Export
Value |
|
2498.525 |
1416.247 |
|
|
|
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Import
Value |
|
214.878 |
176.158 |
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|
|
|
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Total
Expenditure |
|
2219.592 |
1314.027 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
9.95 |
8.98 |
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|
Net
Profit Margin (PBT/Sales) |
(%) |
|
10.52 |
9.04 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
19.38 |
12.65 |
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Return
on Investment (ROI) (PBT/Networth) |
|
|
1.29 |
(2.95) |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
5.64 |
(24.32) |
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|
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|
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Current
Ratio (Current
Asset/Current Liability) |
|
|
1.69 |
1.90 |
LOCAL AGENCY
FURTHER INFORMATION
Business:
Global E Business Operations
Private Limited (“the company”) was incorporated on 29.05.2000. It is currently
a wholly owned subsidiary of Hewlett – Packard Global Investment BV. A
subsidiary of the ultimate parent company, Hewlett – Packard Company, US, and
provides data processing and other IT enabled services for Hewlett – Packard
companies worldwide.
Fixed
Assets:
Leasehold Improvements, Computer & Software, Office Equipment,
Furniture & Fixtures, Vehicles etc.
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 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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.92 |
|
UK
Pound |
1 |
Rs.85.11 |
|
Euro |
1 |
Rs.58.08 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |