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MIRA
INFORM REPORT
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Report Date : |
06.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
HUAWEI
TELECOMMUNICATIONS (INDIA) COMPANY PRIVATE LIMITED |
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Registered Office : |
4th Floor, DLF Square Jacaranda Marg,
M Block, DLF City, Phase - II, Gurgaon - 122022 Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
23.07.2002 |
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Com. Reg. No.: |
05-34937 |
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CIN No.: [Company
Identification No.] |
U64202HR2002PTC034937 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKH01314F |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Telecom and IT Network Solution Provider for Mobile and Fixed Liner Operators and Enterprises Networks |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
40000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well – established company having satisfactory track. Trade relations
are fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered/Corporate Office : |
4th Floor, DLF Square Jacaranda Marg,
M Block, DLF City, Phase - II, Gurgaon - 122022 Haryana |
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Tel. No.: |
91-124-412
7888/ 401 0888 |
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Fax No.: |
91-124-256
3494 |
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E-Mail : |
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Website : |
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Location : |
Commercial |
DIRECTORS
|
Name : |
Mr.
Surjit Kumar Kapoor |
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Designation : |
Director |
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Address : |
EA-427,
Maya Enclave, New Delhi 110 064 |
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Date of Appointment : |
23.07.2002 |
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Name : |
Mr.
Chen Yong (Foreigner) |
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Designation : |
Director |
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Address : |
Level
46, Twin Tower, Petronas2, Kualalumpur, Malaysia 50088 |
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Date of Appointment : |
01.08.2002 |
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Name : |
Mr.
Wang Cheng (Foreigner) |
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Designation : |
Director |
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Address : |
Level
46, Twin Tower, Petronas 2, Kualalampur Malaysia 50088 |
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Date of Appointment : |
01.08.2002 |
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Name : |
Mr. Fu
Bang (Foreigner) |
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Designation : |
Director |
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Address : |
Level
46, Twin Tower, Petronas 2, Kualalampur Malaysia 50088 |
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Date of Appointment : |
01.08.2002 |
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Name : |
Mr.
Chen Yong, Foreigner |
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Designation : |
Director |
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Address : |
Level
46, Twin Tower, Petronas 2, Kualalampur Malaysia 50088 |
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Date of Appointment : |
24/10/2003 |
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Name
: |
Mr. Fu
Bangye |
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Designation
: |
Director |
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Address
: |
Level
46, Twin Tower, Petronas 2, Kualalampur Malaysia 50088 |
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Date
of Appointment : |
24.10.2003 |
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Name
: |
Mr.
Wang Hai Jun, Foreigner |
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Designation
: |
Director |
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Address
: |
Flat
No. 11, Shivtirath, Co-operative Housing Society, Madhusudan Kalekar Road,
Kala Nagar, Bandra East, Mumbai 440 003 |
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Date
of Appointment : |
30.09.2004 |
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Key Executive |
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Name
: |
Ms. Vinita Gurung |
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Designation
: |
HR -
Head |
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Tel. No.: |
91-124-412 7848 |
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Mobile
No. |
91 98732 42222 |
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E-Mail : |
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Name
: |
Mr.
Gautam Sharma |
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Designation
: |
General
Manager Sales |
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Name
: |
Nesar
& Associates |
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Designation
: |
Company
Secretaries |
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Address |
“Smreedhi”, C-8/8834, Vasant
Kunj, New Delhi 110 070 |
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Phone |
91-11-26137527, 26135734 |
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Mobile |
91-98100-44367 |
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Fax |
91-11-26137522 |
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E Mail |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr
Surjit Kumar Kapoor |
9,999 |
3.71 |
|
Ms
Vinita Gurung |
1 |
0.00 |
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M/s
Huawei Tech Investment Co. Ltd |
259,528 |
96.29 |
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Total |
269,528 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Telecom and IT Network Solution Provider for Mobile and Fixed Liner Operators and Enterprises Networks |
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Products : |
Wireless network ·
UMTS,
GSM/GPRS/EDGE, GSM-T/GSM-R, CDMA2000, IMS, Mobile Soft Switch, and WLAN/WiMAX
Fixed Line network: ·
NGN,
DSLAM, MSAN, Switching, and Fixed Terminals Optical Network: ·
LH/ULH
DWDM, Metro WDM, OCS, NG-SDH (ASON), and FSO Datacommunication Network: ·
Router,
LAN Switch, Security & VPN, and GW & Server Application and Software: ·
Fixed
IN, Wireless IN, Universal IN, Mobile Data, CDN/SAN, and OSS/BSS Wireless Terminals: ·
UMTS
handset, CDMA handset, CDMA Fixed Terminal, Wireless Data Card, and Wireless
Module |
GENERAL INFORMATION
|
No. of Employees : |
350 |
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Auditors : |
M/s
S.R.Batliboi & Associates Chartered
Accountants (Raj
Agarwal, M. No. 82028) |
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Associates/Subsidiaries : |
Huwai Technologies India Private Limited Level 3, Leela Galleria, The Leela Palace, 23,
Airport Road, Bangalore 560 008, Karnataka, India 91 80 41781770 91 80 25278248 Software Development - B, C, D Tower, 1st Floor, Commercial Block, Diamond District, Airport Road, Bangalore 560 008 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2,500,000 |
Equity
Shares |
Rs.10 /- each |
Rs. 25.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
269528 |
Equity
Shares |
Rs.10 /- each |
Rs. 2.695 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2004 |
31.03.2003 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
2.695 |
8.293 |
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2] Share Application Money |
|
4.805 |
4.805 |
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3] Reserves & Surplus |
|
2.443 |
0.793 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
9.943 |
13.891 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
9.943 |
8.293 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.433 |
0.563 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.248 |
0.154 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
|
4.901 |
5.886 |
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Cash & Bank Balances |
|
4.621 |
1.596 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
7.107 |
4.927 |
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Total Current Assets |
|
16.629 |
12.409 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
4.891 |
3.893 |
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Provisions |
|
2.617 |
0.940 |
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Total Current Liabilities |
|
7.508 |
4.833 |
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Net Current Assets |
|
9.121 |
7.576 |
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MISCELLANEOUS EXPENSES |
|
0.140 |
0.000 |
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TOTAL |
|
9.943 |
8.293 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
|
47.148 |
21.689 |
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Profit/(Loss)
Before Tax |
|
3.510 |
1.389 |
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Provision
for Taxation |
|
1.860 |
0.596 |
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Profit/(Loss)
After Tax |
|
1.650 |
0.793 |
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Total
Expenditure |
|
43.412 |
20.214 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
3.50 |
3.66 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
7.44 |
6.40 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
9.46 |
6.04 |
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Return
on Investment (ROI) (PBT/Networth) |
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|
16.59 |
9.56 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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|
- |
- |
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Current
Ratio (Current
Asset/Current Liability) |
|
|
2.21 |
2.57 |
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Quick Ratio |
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|
2.21 |
2.57 |
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Current Liabilities/Networth |
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|
0.76 |
0.58 |
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Fixed Asset / Networth |
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|
0.04 |
0.07 |
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Average Collection Days |
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|
37.94 |
99.05 |
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Account Receivables Turnover |
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|
9.62 |
3.68 |
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Asset Turnover |
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|
108.89 |
38.52 |
LOCAL AGENCY
FURTHER INFORMATION
Partnership with Technologies Companies
·
Intel
·
HP
·
Siemens
·
IBM
·
Sun
·
Microsoft
·
Intel
·
3Com
Joint Venture
·
Siemens
·
3
Com
As Per Website Details
Huawei Telecommunications India based in
Gurgaon, Haryana is focused on providing Next Generation end-to-end Telecom and
IT network solutions for Mobile and Fixed Line Operators and Enterprise
Networks. Employing over 350 professionals, Huawei Telecommunications has set
up marketing, sales and engineering support offices at Delhi, Mumbai and
Bangalore to provide quicker response to its customers.
The business operations at Huawei Telecommunications India are organized into
six groups namely Wireless Network, Fixed Line Network, Optical Network,
Datacommunications Network, Value-added Application and Software and Wireless
Terminals.
Within a short span of time, Huawei has established itself as a prominent
vendor of high quality and customized telecom solutions in India, having
supplied Optical Transmission solutions, Broadband Access including IPDSLAM and
MSAN, CDMA 2000 1X, GSM, Mobile Terminals, and Intelligent Network solutions,
Value Added Application & Software to leading public and private telecom
operators in India.
India constitutes one of the most important strategic markets for Huawei. To
realize its objectives, the company has earmarked an investment USD 150 million
in India in next two years towards establishment of a telecom manufacturing
facility and expansion of its software development campus.
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.90 |
|
UK
Pound |
1 |
Rs.85.91 |
|
Euro |
1 |
Rs.57.78 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|