MIRA
INFORM REPORT
|
Report Date : |
17.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
HCL PERIPHERALS – A UNIT OF HCL INFOSYSTEMS
LIMITED |
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Registered
Office : |
806, Siddharth,
96, Nehru Place, New Delhi-110 019 |
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Country : |
India |
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Financials (as
on) : |
30.06.2007 |
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Date of
Incorporation : |
17.04.1986 |
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Com. Reg. No.: |
23955 |
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CIN No.: [Company Identification No.] |
L72200DL1986PLC023955 |
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TAN No.: (Tax Deduction
& Collection Account No.) |
DELH03832D |
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Legal Form : |
Public Limited
Liability Company. The company’s shares are listed on the Stock Exchanges. |
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Line of
Business : |
Manufacturing of
Computer Systems and Computer Peripherals. |
RATING &
COMMENTS
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MIRA’s Rating
: |
Aa |
RATING
|
STATUS |
PROPOSED
CREDIT LINE |
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|
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 |
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Maximum Credit
Limit : |
USD 33808400 |
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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 leading
Information Technology Company having satisfactory track. Directors are
reported as experienced, respectable and resourceful professionals. Their
trade relations are fair. Payments are reported as correct and as per
commitments. Information Technology industry and dot.com company has shown
downward trend due to recession in U.S.A. and various other reasons. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office
: |
806, Siddharth,
96, Nehru Place, New Delhi-110 019, India |
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Tel. No.: |
91-11-26444305/26464921/262112941/26489078/
26418567-69/26430051 |
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Fax No.: |
91-11-26212687 |
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E-Mail : |
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Website : |
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Corporate
Office : |
E-4, 5 and 6, Sector XI, Noida - 201 301,
Uttar Pradesh |
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Tel. No.: |
91-120-2526490 |
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Fax No.: |
91-120-2525196 |
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E-Mail : |
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Plants : |
CHENNAI WORKS
UNIT - I
299, Arcot Road,
Vadapalani, Chennai-600026, Tamilnadu Tel. No.
91-44-24800156/24843566/24838316 Fax. No.
91-44-24834563 E-mail. pattabi@help.com/veera@help.com UNIT - II
Shed 5, 6,
Tiru-vi-Ka Industrial Estate, Guindy, Chennai-600032, Tamilnadu Tel. No.
91-44-22342815/16/22340165 Fax. No.
91-44-22340161 E-mail. rs@help.com PONDICHERRY WORKS
·
R.S. No.
34/4 to 34/7 and part of 34/1, Sedarpet, Pondicherry – 605111 ·
R.S. No.
105/4-5, Sedarpet, Pondicherry-605111 ·
R.S. No.
107/5,6,7, RS No. 108/10A, RS No :
110/3, 5,11,12 and R.S. No. 108/9 & 12, Sedarpet, Pondicherry – 605 111 ·
Plot No.78, South
Phase, Ambattur Industrial Estate, Chennai-600058 Tel No: 91-44-26258444 / 2625 8292 / 2625 8969 Fax No: 91-44-2624 8160 Email : chnplant@hclp.com ·
Plot
Nos.1,2, 27 and 28, Sector 5, 11E-Pantnagar, Rudrapur, District Udham Singh
Nagar, Uttarakhand – 263 145 ·
299 (Old No.
158), Arcot Road, Vadapalani, Chennai – 605 111, Tamilnadu Tel No: 91-44-52006500 (30 lines) Fax No: 91-44-24834563 Email : corporate@hclp.com
·
Shed S5
& S6, Tiru-vi-Ka, Industrial Estate, Guindy, Chennai – 600 052, Tamilnadu ·
J. K.
Towers, 100 Feet Road, Pondicherry - 605 013 ·
Spl-A2,
Industrial Estate, Thattanchavadi,
Industrial area, Pondicherry - 605 005 Tel. No. 91-413-2248284 / 2248284 / 2248587 /2248382 / 2249281 Fax. No. 91-413-2249586 E-mail. sridhar@help.com |
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Rack
Distributors : |
· Netfinity Technologies (India) Private Limited Address: 30/55, Spurtank Road, Chetpet, Chennai – 600 031 , India Tel no: 91-44-8278101 Fax No: 91-44-8211764 Email: netfin@eth.net |
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Sales and Support
Centres : |
·
Shed 5, 6,
Tiru-vi-Ka Industrial Estate, Guindy, Chennai-600032, Tamilnadu Tel. No.
91-44-22342815/22342816/22340165 Telefax. No. 91-44-22340161 E-mail. mktg_chn@help.com Mobile. No. 9840139847 ·
306, Tulsani
Chambers, Nariman Point, Mumbai - 400021, Maharashtra Tel. No. 91-22-22815471/22815472 Mobile. No. 9820456196 E-mail. mktg_bom@help.com ·
Building No.
8, Krishna Market, Kalkaji, New Delhi -110019 Tel. No. 91-11-26293957 Mobile. No. 9868150599 E-mail. mktg_del@help.com ·
No. 7, Race
Course Road, Coimbatore - 641018 Tel. No. 91-422-2214933/2200375 Mobile. No. 9843036831 E-mail. mktg_blr@help.com ·
B-10, Indian
Airlines Employees Colony, Begumpet, Secunderabad - 500003, Andhra Pradesh Tel. No. 91-40-27902912 Mobile. No. 9848022078 E-mail. mktg_hyd@help.com ·
306, Tulsani
Chambers, Nariman Point, Mumbai - 400021, Maharashtra Tel. No. 91-22-22815471/22815472 Mobile No. 9820456196 E-mail. mktg_bom@hclp.com ·
Building No.
8, Krishna Market, Kalkaji, New Delhi - 110019 Tel. No. 91-11-26293957 Mobile. No. 9868150599 E-mail. mktg_del@help.com Other sales
offices located at :- Ahmedabad,
Bangalore, Baroda, Bhopal, Chandigarh, Chennai, Cochin, Coimbatore, Guwahati,
Hyderabad, Indore, Jaipur, Kanpur, Kolkata, Kozhikode, Lucknow, Madurai,
Mumbai, Nagpur, Noida, Patna, Pune. Raipur, Ranchi, Thiruvanathapuram,
Trichy, Vijaywada and Vishakapatnam. |
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Branches : |
Located at :- A-10 & 11,
Sector III, Noida, District Ghaziabad - 201 301, Uttar Pradesh |
DIRECTORS
|
Name : |
Mr. Ajai Chowdhry |
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Designation : |
Chairman and Chief Executive Officer |
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Date of
Birth/Age : |
56 Years |
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Qualification
: |
Graduate in Electronic and Telecommunication Engineering, BE |
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Experience : |
35 Years |
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Date of
Appointment : |
01.03.1989 |
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Previous
Employment : |
Far East Computers Pte Limited |
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Name : |
Mr. Ravi
Thumboochetty |
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Designation : |
Whole-time Director cum Chief Operating officer |
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Date of Birth/Age
: |
59 Years |
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Qualification
: |
Engineer from BMS College of Engineering – Bangalore, BE / B. Tech |
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Experience : |
34 Years |
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Date of
Appointment : |
12.09.1980 |
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Name : |
Mr. T. S.
Purushothaman |
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Designation : |
Whole-time Director |
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Date of
Birth/Age : |
65 Years |
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Qualification
: |
Engineering from Trichur Engineering College, Trichur |
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Experience : |
41 Years |
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|
Name : |
Mr. Rajinder Pal
Khosla |
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Designation : |
Director |
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Date of
Birth/Age : |
74 Years |
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Qualification
: |
Graduate from Emmanuel College, Cambridge (U. K.) |
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Experience : |
40 Years |
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|
Name : |
Mr. Subroto
Bhattarchaya |
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Designation : |
Director |
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Date of
Birth/Age : |
64 Years |
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Qualification
: |
Chartered Accountants |
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Experience : |
39 Years |
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|
Name : |
Mr. D. S. Puri |
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Designation : |
Director |
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Date of
Birth/Age : |
55 Years |
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Qualification
: |
Commerce Graduate – Kolkata University |
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Experience : |
32 Years |
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|
Name : |
Mr. E. A.
Kshirsagar |
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Designation : |
Director |
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Date of
Birth/Age : |
63 Years |
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Qualification
: |
Chartered Accountants |
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Experience : |
37 Years |
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|
Name : |
Mrs. Anita
Ramachandran |
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Designation : |
Director |
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Date of
Birth/Age : |
49 Years |
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Qualification
: |
Management Graduate from Jamnalal Bajaj Institute |
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Experience : |
25 Years |
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|
Name : |
Mr. J. V.
Ramamurthy |
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Designation : |
Whole Time Director |
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Date of
Birth/Age : |
53 years |
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Qualification
: |
M.E. |
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Experience : |
27 years |
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Date of
Appointment : |
01.07.1998 |
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Previous
Employment : |
HCL Office Automation Limited, President and CEO |
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|
Name : |
Mr. Narasimhan Jegadeesh |
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Designation : |
Director |
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Date of Appointment : |
24.01.2006 |
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|
Name : |
Mr. V N Koura |
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Designation : |
Director |
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Date of Appointment : |
24.01.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil Kumar
Jain |
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Designation : |
Company Secretary |
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|
Name : |
Mr. T. S. Purushothaman |
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Designation : |
Chief Operating Officer – India Operations |
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|
Name : |
Mr. Ravi J.
Thumboochetty |
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Designation : |
Chief Operating Officer – International Operations |
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Date of
Birth/Age : |
58 YEARS |
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Qualification
: |
BE, B. Tech |
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Experience : |
33 years |
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Date of
Appointment : |
01.05.1986 |
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Previous
Employment : |
HCL Limited, Regional Manager |
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|
Name : |
Mr. Sandeep
Kanwar |
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Designation : |
CFO & Executive Vice President |
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Date of
Birth/Age : |
46 years |
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Qualification
: |
F.C.A. |
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Experience : |
24 years |
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Date of
Appointment : |
01.03.1988 |
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Previous
Employment : |
Oriental Carbon and Chemicals Limited, Accounts Officer |
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Name : |
Mr. George Paul |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
46 years |
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Qualification
: |
B. Tech. |
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Experience : |
24 years |
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Date of
Appointment : |
18.07.1983 |
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Previous
Employment : |
Larsen & Toubro |
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|
Name : |
Mr. Yuvraj
Bahadur |
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Designation : |
Executive Vice President |
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|
Name : |
Mr. Amanpreet
Singh Bedi |
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Designation : |
Associate Vice President |
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Date of
Birth/Age : |
41 years |
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Qualification
: |
B.E. |
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Experience : |
20 years |
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Date of
Appointment : |
07.07.1986 |
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|
Name : |
Mr. D Baskar |
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Designation : |
Vice President |
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Date of
Birth/Age : |
44 years |
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Qualification
: |
B.E. |
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Experience : |
22 years |
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Date of
Appointment : |
27.08.1984 |
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|
Name : |
Mr. Adhikari,
Saurav |
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Designation : |
President |
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Name : |
Mr. Mohan U. V. |
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Designation : |
General Manager |
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Name : |
Mr. Subodh Kumar
Sharma |
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Designation : |
Area Customer Engineer Manager |
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Name : |
Mr. C. D. Murthy |
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Designation : |
Associate Vice President |
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Name : |
Mr. M. P. Singh |
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Designation : |
Deputy General Manager |
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Name : |
Mr. A. K. Jain |
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Designation : |
General Manager |
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|
Name : |
Mr. Manohar Lal Taneja |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
60 years |
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Qualification
: |
B.E., M.B.A. |
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Experience : |
38 years |
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Date of
Appointment : |
30.05.1986 |
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Previous
Employment : |
IDM |
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|
Name : |
Mr. Hari Baskaran |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
57 years |
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Qualification
: |
B.E. |
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Experience : |
33 years |
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Date of
Appointment : |
18.08.2003 |
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Previous
Employment : |
Xerox Modi Corporation Limited, Executive Director |
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|
|
Name : |
Mr. Padiyal Naresh |
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Designation : |
Vice President |
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Date of Birth/Age
: |
45 years |
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Qualification
: |
B.E. |
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Experience : |
22 years |
|
Date of
Appointment : |
27.08.1984 |
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|
|
Name : |
Mr. Rajeev Asija |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
44 years |
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Qualification
: |
B.E. |
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Experience : |
23 years |
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Date of
Appointment : |
01.05.1986 |
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Previous
Employment : |
HCL Limited, Senior Customer Engineer |
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|
Name : |
Mr. Rakesh Mehta |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
50 years |
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Qualification
: |
I.E.T.E. |
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Experience : |
27 years |
|
Date of
Appointment : |
29.12.1988 |
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Previous
Employment : |
ORG Systems, Customer Engineer Specialist |
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|
Name : |
Ms. Suman Ghose Hazra |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
53 years |
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Qualification
: |
B.Com, C.A., ICWA |
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Experience : |
24 years |
|
Date of
Appointment : |
15.06.1995 |
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Previous
Employment : |
Network Limited |
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|
|
|
Name : |
Mr. Rajendra Kumar |
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Designation : |
Executive Vice President |
|
Date of
Birth/Age : |
49 years |
|
Qualification
: |
B.Com |
|
Experience : |
31 years |
|
Date of
Appointment : |
01.05.1986 |
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Previous
Employment : |
HCL Limited, Deputy Purchase Manager |
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|
Name : |
Mr. Pattabiraman S. |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
51 years |
|
Qualification
: |
B.Sc., A.C.A. |
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Experience : |
27 years |
|
Date of
Appointment : |
01.07.1998 |
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Previous
Employment : |
HCL Peripherals Limited, Senior Manager |
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|
|
Name : |
Mr. R Mahendran |
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Designation : |
General manager |
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Date of
Birth/Age : |
39 years |
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Qualification
: |
B.Com, Diploma |
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Experience : |
19 years |
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Date of
Appointment : |
01.07.1998 |
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Previous
Employment : |
Network Limited – Territory Manager |
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|
|
|
Name : |
Mr. T P Jayaprakashan |
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Designation : |
General manager |
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Date of
Birth/Age : |
40 years |
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Qualification
: |
Diploma (polytechnic) Electronics and Telecommunication |
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Experience : |
20 years |
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Date of
Appointment : |
11.08.1986 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
As on 30.06.2007: |
|
|
|
Promoters / promoters Group |
92199864 |
54.51% |
|
Mutual Funds / UTI |
4916100 |
2.91% |
|
Financials Institutions / banks |
4486996 |
2.65% |
|
Foreign Institutional Investors |
52368469 |
30.96% |
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Bodies Corporate |
1773572 |
1.05% |
|
NRIs/ OCBs |
474454 |
0.28% |
|
Indian Public |
12933195 |
7.64% |
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Total
|
169152650 |
100.00 |
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BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Computer Systems and Computer Peripherals. |
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Products : |
Networking
Products ·
Hubs ·
Switches ·
Access Products ·
Modules/converters Terminal
Products ·
Turboterm ·
Graph Term ·
Multilingual Terminal Structured
Cabling ·
Patch Cord ·
Patch Panel ·
Wall Outlet Peripherals ·
Monitor ·
Keyboards ·
Multi Media ·
Touch Screen Monitor/Kiosks Generic Names of
Three Principal Products/Services of Company (As per monetary terms) are :
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Exports : |
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Countries: |
ASEAN, Europe, Japan and USA |
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Imports : |
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Countries: |
ASEAN, Europe, Japan and USA |
PRODUCTION STATUS
The company’s
production Status for the year ended 30th June 2007 was as under: -
|
Class of Goods |
Units |
Installed
Capacity |
Actual
Production |
|
Computers/Micro Processor Based Systems |
Nos. |
1400000 |
619216 |
|
Data Graphic/Display Monitor/Terminals, Hubs, etc |
Nos. |
450000 |
512717 |
GENERAL
INFORMATION
|
Suppliers : |
· Shakhti Data Cables · Bajaj Printer and Packers |
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No. of
Employees : |
7000 |
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Bankers : |
Ř State Bank of India, New Delhi Ř Canara Bank Ř Bank of Baroda, New Delhi Ř UCO Bank, New Delhi Ř Canara Bank, New Delhi Ř State Bank of Patiala, New Delhi Ř Indian Bank, New Delhi Ř State Bank of Saurashtra, New Delhi Ř Standard Chartered Bank, New Delhi Ř Societe Generale, New Delhi Ř ICICI Bank Limited, New Delhi Ř HDFC Bank Limited, New Delhi |
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Facilities : |
Notes:- 1) Cash Credits along
with non-fund based facilities from Banks (External Commercial Borrowings)
are secured by way of hypothecation of stock-in-trade, book debts as first
charge and by way of second charge on all the immovable and movable assets of
the Company. The charge ranks pari-passu amongst Bankers, 2) Term loan
from a Bank is secured by way of hypothecation of all movable current assets.
The charge ranks pari-passu with Company's bankers.
Notes:- 1) Amount
payable within one year is Rs.2014.700 millions (2006 - Rs.1510.400
millions). 2) Public
Deposits represent matured deposits. |
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Banking Relations : |
Good |
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Auditors : |
Price Waterhouse Chartered Accountants |
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Address : |
New Delhi |
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Associates/Subsidiaries
: |
·
HCL
Technologies (Mumbai) Limited ·
HCL Global
Alliance Limited ·
HCL
Peripherals Limited ·
HCL Perot
Systems Limited ·
OWNHCL Trust ·
Shri Sivasubramaniya
Nadar Educational and Charitable Trust SUBSIDIARIES · HCL Infinet Limited (formerly-HCL Commerce Limited) · Infosystems Australia Pty Limited · FEC Infosystems Pte Limited, Singapore · FEC Distribution Pte Limited · Far East Computers (M) Sdn. Bhd, Malaysia · HCL Infosystems (Malaysia) Sdn. Bhd · Far East Computers Marketing (M) Sdn. Bhd · Infosystems (Bermuda) Limited · Infosystems (Europe) Limited · Infosystems (America) Inc. · HCL Corporation Limited · Microcomp Limited · HCL Comnet Limited · HCL Technologies BPO Services Limited · DSL Software Limited · Shipara Technologies Limited · HCL Technologies (Malaysia) Sdn Bhd · HCL Singapore Pte Limited · HCL Infosolutions Limited · HCL Comnet Systems and Services Limited · Universal Office Automation Limited ( formerly Known as HCL Office Automation Limited) · Stelmac Engineering Private Limited |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
550000000 |
Equity Shares
of |
Rs.2/- each |
Rs. 1100.000 millions |
|
500000 |
Preference
Shares of |
Rs. 100/- each |
Rs. 50.000 millions |
|
|
TOTAL |
|
Rs.
850.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
169152650 |
Equity Shares |
Rs. 2/- each |
Rs. 338.300 millions |
|
|
TOTAL |
|
Rs.338.300 millions |
Notes:-
1. Pursuant to the
Scheme of Arrangement approved by Hon'ble Delhi High Court the authorised
equity share capital of the Company stands increased by Rs.30 Crores being part
of the authorised equity share capital of HCL Infinet Limited., the erstwhile
wholly owned subsidiary which was amalgamated with the Company.
2 Paid up share
capital includes:
a) 50447295 (2006
- 50447295) Equity Shares of Rs.2/- each issued pursuant to contract without
payment being received in cash.
b) 53182765 (2006
- 53182765) Equity Shares of Rs.2/- each Bonus shares issued from Securities
Premium Account.
c) 9605355 (2006 -
9181960) Equity Shares of Rs.2/- each issued pursuant to the exercise of options
granted under ESOP Scheme 2000.
3 Of the above
subscribed shares, 74651388 (2006 - 74651388) Equity Shares of Rs.2/- each are
held by HCL Corporation Limited.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.06.2007 |
30.06.2006 |
30.06.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
338.300 |
337.500 |
334.400 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
8113.800 |
3775.900 |
4019.100 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
8452.100 |
4113.400 |
4353.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
120.200 |
444.900 |
557.500 |
|
|
2] Unsecured
Loans |
2238.700 |
1511.500 |
261.000 |
|
TOTAL BORROWING
|
2358.900 |
1956.400 |
818.500 |
|
|
DEFERRED TAX
LIABILITIES |
124.800 |
115.400 |
68.100 |
|
|
|
|
|
|
|
TOTAL
|
10935.800 |
6185.200 |
5240.100 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
984.800 |
633.200 |
523.800 |
|
Capital work-in-progress
|
213.600 |
163.800 |
9.100 |
|
|
|
|
|
|
|
INVESTMENT
|
2797.800 |
1353.900 |
1227.700 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
7917.300
|
2403.100
|
1881.000
|
|
|
Sundry Debtors
|
10025.100
|
5112.600
|
3699.200
|
|
|
Cash & Bank Balances
|
1939.400
|
1452.900
|
1463.200
|
|
|
Other Current Assets
|
959.400
|
749.700
|
794.200
|
|
|
Loans & Advances
|
677.200
|
378.700
|
320.800
|
Total Current Assets
|
21518.400
|
10097.000
|
8158.400 |
|
Less : CURRENT
LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
13767.800
|
5566.600
|
4172.200
|
|
|
Provisions
|
811.000
|
496.100
|
506.700
|
Total Current Liabilities
|
14578.800
|
6062.700
|
4678.900 |
|
Net Current Assets
|
6939.600
|
4034.300
|
3479.500 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
10935.800 |
6185.200 |
5240.100 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
30.06.2007 |
30.06.2006 |
30.06.2005 |
|
|
Sales Turnover |
116481.200 |
22947.000 |
19316.600 |
|
|
Other Income |
487.300 |
170.100 |
322.500 |
|
|
Total Income |
116968.500 |
23117.100 |
19639.100 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
4299.900 |
1315.200 |
1488.700 |
|
|
Provision for Taxation |
1121.400 |
(183.000) |
161.000 |
|
|
Profit/(Loss) After Tax |
3178.500 |
1332.200 |
1327.700 |
|
|
|
|
|
|
|
|
Earnings in
Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
816.500 |
627.800 |
331.700 |
|
|
Commission Earnings |
1.200 |
1.300 |
6.400 |
|
|
Other Earnings |
51.400 |
156.900 |
132.000 |
|
Total Earnings |
869.100 |
786.000 |
470.100 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
10320.500 |
9840.400 |
7513.800 |
|
|
Stores & Spares |
458.900 |
26.700 |
31.600 |
|
|
Capital Goods |
20.700 |
6.600 |
13.200 |
|
|
Others |
7666.900 |
3147.300 |
1717.700 |
|
Total Imports |
18467.000 |
13021.000 |
9276.300 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Sales and Services |
107818.000 |
19191.100 |
15981.700 |
|
|
Personnel |
2177.300 |
1272.200 |
0.000 |
|
|
Administration, Selling, Distribution and others |
2345.100 |
1185.300 |
1009.100 |
|
|
Repair and Maintenance |
97.200 |
40.100 |
0.000 |
|
|
Finance Charges |
105.500 |
45.700 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
0.000 |
1272.200 |
1044.900 |
|
|
Finance Charges |
0.000 |
45.700 |
9.600 |
|
|
Depreciation & Amortization |
125.500 |
67.500 |
65.000 |
|
|
Other Expenditure |
0.000 |
40.100 |
40.100 |
|
Total
Expenditure |
112668.600 |
21801.900 |
18150.400 |
|
QUARTERLY RESULTS
|
Year |
30.09.2007 |
|
Type
|
1st
Quarter |
|
Sales Turnover |
30838.300 |
|
Other Income |
175.200 |
|
Total Income |
31013.500 |
|
Total Expenditure |
29829.200 |
|
Operating Profit |
1184.300 |
|
Interest |
77.400 |
|
Gross Profit |
1106.900 |
|
Depreciation |
37.800 |
|
Tax |
331.100 |
|
Reported PAT |
734.900 |
KEY RATIOS
|
Year |
30.06.2007 |
30.06.2006 |
30.06.2005 |
|
Debt-Equity Ratio |
0.35 |
0.33 |
0.19 |
|
Long Term Debt-Equity Ratio |
0.04 |
0.01 |
0.06 |
|
Current Ratio |
1.25 |
1.32 |
1.36 |
|
TURNOVER
RATIOS |
|||
|
Fixed Assets |
88.35 |
23.77 |
19.84 |
|
Inventory |
22.90 |
11.12 |
11.28 |
|
Debtors |
15.61 |
5.40 |
5.93 |
|
Interest Cover Ratio |
15.29 |
7.23 |
11.69 |
|
Operating Profit Margin(%) |
4.00 |
6.69 |
8.59 |
|
Profit Before Interest And Tax Margin(%) |
3.89 |
6.41 |
8.26 |
|
Cash Profit Margin(%) |
2.80 |
5.04 |
7.07 |
|
Adjusted Net Profit Margin(%) |
2.69 |
4.75 |
6.74 |
|
Return On Capital Employed(%) |
54.70 |
27.30 |
33.19 |
|
Return On Net Worth(%) |
50.83 |
26.93 |
32.08 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject was
incorporated on 17th April 1986 in New Delhi having Company Registration
Number 23955.
Subject was
previously known as HCL Hewlett-Packard and was promoted by a group of
technocrats. In May 1986, the company took over Hindustan Computers, Hindustan
Reprographics, Hindustan Instruments and Indian Computer Software Company.
In 1991, the
company entered into a joint venture with Hewlett-Packard Company, USA, for
combining the computer manufacturing, marketing and servicing activities of the
company and Hewlett Packard India Private Limited.
Subject has been
accredited with ISO 9001 certification for its manufacturing processes and it
has also received SEI CMM Level IV accreditation for its software development
processes. It has recently been awarded the MAIT Level II recognition for
business excellence.
The
company manufactures computer systems at Noida, Uttar Pradesh and computer
peripherals at Chennai. It also manufactures multi-user super-minis and
engineering workstations, the technology for which is being provided by
Hewlett-Packard Company, USA. It came out with a rights issue in November, 1992
to meet the cost of setting up a test and repair centre; acquire the computer
division from Hewlett-Packard India Private Limited and to modernise the
computer manufacturing facilities.
In
1997-98, the company acquired the business of HCL Infosolutions, subject, and
the customer support activities of HCL office Automation Limited. In 1998-99,
it entered into a relationship with Samsung, Korea to market and supports their
range of key telephone systems. It also tied up with Novell to become the
largest Novell authorised support centre.
In 1999-2000,
the most significant development has been the formation of its internet
subsidiary, HCL Infinet a value added B2B and B2C internet services
provider.
The company had received SEI CMM Level IV accreditation for its software
development processes and the ISO 9001 certification for its manufacturing
processes. It has recently been awarded the MAIT Level II recognition for
business excellence.
The
company also expanded its distribution network to become the largest hardware
vendor with more than 75 distributors in 42 point of purchase (POP)/locations
and more than 1000 sales outlets. The company also expanded its operations
internationally, launching operations in Bangladesh in September 2000.
During
the year 2000-2001, the company bagged a major networking order from Indian
Overseas Bank involving implementation of Wide Area Network in 11 cities
covering 200 branches.
The company has won the MAIT award for Excellence in Exports-Technical Services
for the year 2001-02.
The company has tied-up with Pitney Bowes, a Fortune 500 company and global
provider of integrated mail messaging and document management solutions, to
provide world class mass mailing solutions.
The company
being a premier house for hi-tech support in the filed of information
technology had understandably transformed into a 'home name' for corporate
servicing a large clientele in the country.
The alliance with Sun Microsystems India Private Limited forged during 2002, to
distribute the complete line of Sun Enterprises Products, would surely enhances
the spectrum of services provided by the company to the customer.
Subject is one of
the pioneers in the Indian IT market , with its origins in 1976. For over
quarter of a century, they have developed and implemented solutions for
multiple market segments, across a range of technologies in India. They have
been in the forefront in introducing new technologies and solutions. The
highlights of the HCL saga are summarised below:
BUSINESS
Subject is engaged
in manufacturing of computer systems and computer peripherals. It also manufactures multi-user super-minis
and engineering workstations, the technology for which is being provided by
Hewlett-Packard Company, USA. It came out with a rights issue in November 1992
to meet the cost of setting up a test and repair centre; acquire the computer
division from Hewlett-Packard India Private Limited; and to modernise the
computer manufacturing facilities.
It exports SUN,
ENC, PCs, Motherboards, Hardware Designs, Softwares and Consultancy Services to
ASEAN, Europe, Japan and USA.
It imports Desktop
Computer System, Keyboard X86 Servers, Moniter, Networking Hubs and Switches,
Network Passive Components, KIOSK, Thin Client, Chips, IC’s, Assemblies and
Softwares from ASEAN, Europe, Japan and USA.
THE COMPANY PROFILE:
Subject was founded
in the year 1983 has established itself as a leading manufacturer of computer
peripherals in India. Subject is a group company of HCL Infosystems Limited
(turnover Rs. 43000 millions), the No. 1 hardware manufacture in India. With a
humble turnover of Rs. 20.000 millions in the year of inception nearly 2
decades ago, today subject has established itself as a leading manufacturer of
computer peripherals in India and is poised to touch the rupees five thousand
millions mark by the year 2002.
Subject being a
premier house for hi-tech support in the field of information technology has
understandably transformed into a ‘home name’ for corporate, servicing a large
clientele in the country.
With such a profile
one more attempt to gear up and aggrandise the silhouette of service and
success, is made by the launch of a product line of a wide range of modular
enclosures and accessories for networking and communication devices under the
banner of subject (A unit of HCL Infosystems Limited).
DIRECTORS’ REPORT:
Scheme of
Arrangement
During the year
under review, a composite Scheme of Arrangement u/s 391/394 of the Companies
Act 1956, (the Scheme) for demerger of the Networking business of HCL Infinet
Limited, the wholly owned subsidiary, into Microcomp Limited and amalgamation
of HCL Infinet Limited, with its residual Telecommunication and Office
Automation business with the Company was approved by the Hon'ble High Court of
Delhi vide its order dated March 20, 2007, which came into effect from closing
business hours on March 31, 2007 from the appointed date i.e. April 1, 2006.
Accordingly, the
results of the Company on standalone basis (in Parent Company) for the year
ended June 30, 2007 includes the results of Telecommunication and Office
Automation business, for the 15 months period from April 1, 2006 to June 30,
2007 and are not comparable with those of the previous year. Please also refer
to 'Note 24' on Scheme of Arrangement given in Notes to Accounts in this
report.
Performance
The consolidated
net revenue of the Company was Rs. 117357.800 millions as against Rs.
114021.600 millions in the previous year. The consolidated profit before tax
was Rs. 4287.100 millions as against Rs. 3852.600 millions in the previous
year. The Directors are pleased to recommend final Dividend @ 100% on the fully
paid-up equity shares of Rs.2/- each for the financial year ended on 30th June,
2007. During the first nine months, three interim (quarterly) dividends of 100%
each were declared taking the total dividend for the year 2006-07 to 400%.
Quality
Initiatives
During the year,
there have been several achievements on the quality initiatives front. Subject fared
very well in customer satisfaction surveys as it scored high on factors like
customer orientation, product quality, sales and marketing, product pricing and
commercials, delivery and order fulfillment and prompt after sales service and
support at critical times etc. The survey also highlighted that subject is
strongly associated with "Comprehensive end to end service offerings as
per ICT needs" and "The company that values customer's time".
Also subject has emerged as the top vendor on all the parameters for vendor
selection of hardware supply and hardware support services.
In terms of brand
disposition vis-a-vis the competitors, subject emerged as the strongest brand.
Puducherry Manufacturing Organisation facilities recertified for QMS - ISO
9001-2000 and EMS - ISO 14001-2004. Uttarakhand Manufacturing Organisation
facilities certified for QMS - ISO 9001-2000 and EMS - ISO 14001-2004.
Awards
During the year
subject was awarded 'IMM Top
Organization Award 2007' for excellence by Institute of Marketing and
Management;
'India's Most Preferred Personal Computer Brand' by CNBC Awaaz
Consumer Awards; 'Amity Corporate
Excellence Award
2007' for its distinct vision, innovation, competitiveness and sustenance by
Amity Business School, 'Channels Choice
Award 2007' for Relationship Management and After Sales Support by IDC DQ Channels
based on the IDC channel satisfaction survey. Subject featured amongst the 'Top 3 IT Hardware Companies' in
India's 100 Most Valuable Brands by Planman Consulting and ICMR Research, 'Brand of Excellence Award' in the
VARIndia IT Forum - 2007, Top 3 Most
Asia Pacific
2006', Top 50 Fastest Growing Technology Companies in India 2006' by Deloitte and
louche; Top Performance
In The Computer
Hardware and Peripherals Sector' by Dun and Bradstreet Awards 2006.
Employee Stock
Option Plan
The company has
pioneered a number of initiatives in environment management which include:
• Being the first
company in India to have ISO 14001 compliance.
• First company in
India to have a comprehensive policy on WEEE (Waste of Electrical and Electronic
Equipment) for end-of-life. Products to be recovered and recycled in an
environment friendly manner. To dispose/recyclee-waste generated either at the
company facilities or at the customer end, the company has tied up with
government authorized recyclers for e-waste recovery and recycling in an
environmentally safe manner.
• First company in
India to launch RoHS compliant laptops. Subject Laptops are RoHS compliant and the
company will shortly be announcing the company range of desktops that are fully
RoHS compliant.
• The company is
actively encouraging its suppliers to restrict other hazardous chemicals such
as PVC and BFR and is closely following up technological developments in this
area.
• HCL's "Best
Assured" campaign is targeted against the counterfeit industry and
import of secondhand components that is adding to India's e-waste problems.
• The company has a
well defined customer awareness program through which users are
informed/updated about the various environment management processes.
Particulars of
subsidiaries
On the Scheme of
Arrangement becoming effective, Microcomp Limited and Stelmac Engineering Private
Limited (the wholly owned subsidiaries of the erstwhile HCL Infinet Limited)
have become wholly owned subsidiaries of the Company.
The name of the
Microcomp Limited has been changed to HCL Infinet Limited. A Scheme of
Amalgamation of Stelmac Engineering Private Limited, the wholly owned
subsidiary, with the Company has been filed u/s 391-394 of the Companies Act,
1956 with Hon'ble Delhi High Court. As directed by the Hon'ble Court, the Court
convened meetings of secured and unsecured creditors of the Company to approve
the Scheme shall be held on September 22, 2007. The Scheme on its sanction by
creditors, the Hon'ble High Court and after other necessary approvals shall be
effective from April 1, 2007.
The Company has
obtained permission from the Ministry of Company Affairs, Government of India,
vide their letter No. 47/196/2007-CL-lll dated May 11, 2007 for not annexing
the accounts of HCL Infinet Limited and Stelmac Engineering Private Limited,
the wholly owned subsidiaries of the Company.
The detailed
annual accounts of the subsidiaries of the Company are available on any working
day at the Registered Office of the Company to the shareholders of the Company
requiring such information.
OVERVIEW
India is likely to
see strong domestic growth in the years to come. Large investments are planned
across various sectors by private players, PSUs and Government.
BUSINESS OUTLOOK
IT investments in
India are expected to grow at 19% CAGR, as per IDC, which is amongst the
highest rates of growth in the world. As per the National E-Governance Plan
(NEGP), investments of Rs. 230000.000 millions are planned for next five years,
for identified core projects. Technology trends point to increasing
convergence, so that different devices can be networked/managed, with a
computer at the heart of every ICT solution. Reforms in Power sector are
focusing on Substation Automation and Management of both Demand and Supply
sides. India is becoming a hub for creativity and animation, with increased set
up of Media and Entertainment stations across the country. There is
Digitization in all aspects encompassing content creation, broadcasting etc.
Broadband Penetration, Roll Out and Value Added Services are seeing more
accelerated growth. Infrastructure investments in the country are planned in
several areas, e.g. modernization of Airports with the latest ICT equipments
being deployed for Security and Vigilance, Baggage Clearance, Flight arrival
and Departure Systems, Passenger and Luggage Check in systems.
The Ministry of
Railways has formally announced the plans for technology upgradation in
Railways in areas like Passenger Information System, Automatic Train Controls,
and Signaling etc.
Today, IT is
playing a much larger role across the industry for e.g. the BFSI Institutions, are
using IT not only to understand their customer's needs and service them better,
but also to automate operations and strengthen systems. Initial steps have also
been taken in the field of Health in terms of Digital Records creation,
Hospital Information systems, Picture archival and control systems and tele
medicine.
With consumers
enjoying higher purchasing power and lifestyle preferences, these investments
are creating opportunities for Technology Equipments, Digital Lifestyle
products and System Integration.
THE HCL OF TODAY
This August saw
subject completing three decades of leadership in the Indian IT Market by
setting new benchmarks and creating newer markets.
Subject is today an
organization that offers the full spectrum of Information Technology, Office
Automation and Communication technology (ICT) products and services to its
customers. Subject has been consistently ranked as a market leader in India for
various product categories both its own and those of its partners. The company
over the last three decades has built the country's largest multi-technology
ICT Products and Services Network with a direct presence in over 360 locations
across the country and an equally strong franchisee service network. Further
subject is today India's largest vertically integrated ICT manufacturing house
with its state-of the-art manufacturing facilities at Rudrapur, Chennai and
Puducherry. The Company intends to leverage its core ICT competency, sales and
support reach and existing account relationships to harness new opportunities
in India. The Company is a leading System Integrator in Telecom, E-Governance,
BFSI and Power verticals. The company has also identified new verticals for SI
focus, namely Media and Entertainment, Retail, Health, Airports/Ports and
Railways.
Therefore to
address the growing opportunities in India and to derive more value from the
assets of the company, subject has created a new blueprint for its growth in
the coming years. This is clearly articulated and represented below.
Evolving with the
changing nature of ICT products and the emergence of digital lifestyle products
as a new market over the last decade, subject has built India's largest
distribution and retail chain for such products. On a network of 40
subject Digilife stores, over 3000
franchisees and more than 50,000 retail outlets in more than 5000 towns and
cities of India, subject is by far the largest value added distribution network
in partnership with leading brands such as Apple, Casio, Kodak, Toshiba, Nokia,
Microsoft, Konica Minolta among others. subject Digilife stores, a new concept
in their country, are a one-stop window for ICT consumers to experience a
comprehensive range of digital lifestyle products, including Notebooks, PC's,
digital cameras, MP3 Players, mobile phones, LCD's, Plasma TV's and related
accessories. Subject has built strong internal training systems and created
Hardware, Software and Networking professionals over the years.
This year also
marked subject foray into ICT Education and Training with the launch of subject
Career Development Centers across India. With the objective of meeting the
increasing demand for skilled professionals, subject CDCs impart students real
world practical training on enterprisewide ICT deployment and integration
assignments to transform them into industry-ready professionals. Subject CDCs
offer specially designed courses in high-end infrastructure hardware,
middleware and networking integration.
It is in trade terms with:-
·
Cubix control
Systems Private Limited
·
Esteem
Industries
·
K. K. Nag
Limited
·
Acem Tech
·
Avon Data
Cables Private Limited
·
Polyteck
Packings (India) Private Limited
·
Sri
Kaleeswarar Industries
·
Divya Automats
·
Coromandel
Electronics
·
Electronic
Consultants
·
Endura Metal
Finishers
·
Plastic Coats
·
Shakthi Data
Cables
·
Electronic
Fasteners
·
Nithya
Packaging
FIXED ASSETS:
· Land
· Buildings
· Plant and machinery
· Air conditioners
· Furniture and Fixtures
· Office equipments
· Vehicles
WEBSITE DETAILS:
The Company founded
in the year 1983 has established itself as a leading manufacturer of computer
peripherals in India. The Company is a Group company of HCL Corporation
(turnover Rs. 43000.000 millions), the leading giant in IT industry in India.
The Research and
Development department at The Company equipped with the latest Design tools for
product designing. A full fledged EMI lab has been set up with a complete set
of EMI/EMC test equipments, KeyTek surge/EFT generators and Schaffner ESD Gun
for Pre compliance testing.
This department is
represented by a group of highly motivated engineers, who have not only
customised products to suit Indian conditions but have also been responsible
for new products development.murugan.
The Company is
fully equipped with the state-of-the art manufacturing CNC Machines such as
MURATA turret punch presses, KOMATSU NC press brake, MURATEC CNC press brake
and CAD/ CAM systems supported by AUTODESK. These facilities enable the
manufacture of precision products as per customer's requirement. The latest
production facilities include SEHO wave soldering machine, MINOITA colour
analyser, YORCO baking chamber and a host of other renowned equipments. This
ensures that only the best quality products come out of the Company.
The latest
production facilities include SEHO wave soldering machine, MINOITA colour
analyser, YORCO baking chamber and a host of other renowned equipments. This
ensures that only the best quality products come out of the company.
Milestone
Year Highlights
1976
1976 - Foundation of the Company laid
- Introduces
microcomputer-based programmable calculators with wide
acceptance in the scientific / education community
1977
1977 - Launch of the first
microcomputer-based commercial
computer with a ROM -based
Basic interpreter
- Unavailability of
programming skills with customers results in HCL developing
bespoke applications for their
customers
1978 - Initiation of application
development in diverse segments such as textiles,
sugar, paper, cement ,
transport
1980 - Formation of Far East
Computers Limited., a pioneer in the Singapore IT market,
for
SI (System Integration) solutions
1981
1981 - Software Export Division
formed at Chennai to support the
bespoke
plication development needs of Singapore
-
HCL launches
an aggressive advertisement campaign with the
theme ' even a typist can operate' to make the usage of computers popular in the SME (Small and
Medium Enterprises) segment. This proposition involved menu-based
application for the first time, to
increase ease of operations. The response
to the advertisement was phenomenal.
1983 - HCL develops special program
generators to speed up the development of applications
- Bank trade unions allow computerisation in banks. However, a computer
can only run one application such as Saving Bank Current account, Loans etc.
1985
- HCL sets up core team to develop the
required software - ALPM ( Advanced
Ledger Posting Machines ) . The team uses reusable code to reduce development
efforts and produce more reliable code . ALPM becomes the largest selling
software product in Indian banks
-HCL designs and launches Unix- based computers and IBM PC clones
- HCL promotes 3rd party
PC applications nationally Zonal offices of banks and
general insurance companies
adopt computerization
1986 - Purchase
specifications demand the availability of RDBMS products on the
supplied solution (Unify, Oracle). HCL arranges for such products to be
ported
to
its platform.
- HCL assists customers to
migrate from flat-file based systems to RDBMS
-HCL enters into a joint
venture with Hewlett Packard
- HP assists HCL
to introduce new services: Systems Integration, IT consulting,
packaged support services (
basicline, teamline )
1991 - HCL establishes a Response
Centre for HP products, which is
connected to the HP Response Centre in Singapore.
- There is a vertical segment
focus on Telecom, Manufacturing and
Financial Services
- HCL acquires and
executes the first offshore project from IBM
Thailand
1994 - HCL sets up core
group to define software development methodologies
-Starts execution of
Information System Planning projects
1995 -Execution projects
for Germany and Australia
- Begins Help desk
services
1996 - Sets up the STP ( Software
Technology Park ) at Chennai to execute
software
projects for international customers
- Becomes national
integration partner for SAP
-Kolkata and Noida STPs
set up
1997 - HCL buys back HP
stake in HCL Hewlett Packard
1998 - Chennai and Coimbatore
development facilities get ISO 9001 certification
- Acquires and sets up
fully owned subsidiaries in USA and UK
1999 - Sets up fully owned
subsidiary in Australia
- HCL ties up with
Broadvision as an integration partner
2000
-Sets up fully owned
subsidiary in Australia
- Chennai and
Coimbatore development facilities get SEI Level 4 certification
- Bags Award for
Top PC Vendor In India
2000 - Becomes the 1st IT
Company to be recommended for latest version of ISO 9001
:
2000
- Bags MAIT's
Award for Business Excellence
- Rated as No. 1
IT Group in India
2001
-Launched Pentium IV PCs
at below Rs 40,000
2001 -IDC rated HCL
Infosystems as No. 1 Desktop PC Company of 2001
-Declared as Top PC
Vendor by Dataquest
-HCL Infosystems
and Sun Microsystems enters into a Enterprise
Distribution
Agreement
2002 - Realigns
businesses, increasing focus on domestic IT, Communications and
Imaging products, solutions and related services
2003
- Became the first
vendor to register sales of 50,000 PCs in a
quarter
- First Indian
company to be numero uno in the commercial PC market
-Enters into partnership
with AMD
-Launched Home PC
for Rs 19,999
2003 - HCL Infosystems'
Info Structure Services Division received ISO
9001:2000 certification
-Launches Infiniti
Mobile Desktps on Intel Platform
- Launched
Infiniti PCs, Workstations and Servers on AMD
platform
PRESS CLIPPINGS
HCL INFOSYSTEMS REPORTS CONSOLIDATED REVENUE OF Rs. 29689 MILLIONS (USD
664.5 Millions) FOR
THE QUARTER ENDED 31st DECEMBER 2006. PAT IS Rs. 760 MILLIONS(USD
17.0 Millions),
GROWS AT 19%.
New Delhi, January 24, 2007:
HCL Infosystems Limited, India's premier
Information enabling company today announced its un-audited results for the
quarter ended December 31, 2006.
The company has reported consolidated revenue of Rs. 29689 millions (USD 664.5 Millions) during the quarter ended December 31, 2006 as against Rs. 28071 millions (USD 628.3 Millions) in the corresponding quarter of the previous year.
Profit before tax for the quarter was Rs. 1049 millions (USD 23.5 Millions) as against Rs.
880 millions (USD 19.7 Millions) in the corresponding quarter of the
previous year. Profit after tax was Rs. 760 millions (USD 17.0 Millions).
Revenue from the Computer Systems business was Rs. 6528 millions (USD 146.1 Millions) as against Rs. 5570 millions (USD 124.7 Millions) in the corresponding quarter of the
previous year, a growth of 17%. Profit before interest and taxes was Rs. 439 millions (USD 9.8 Millions) as against Rs. 258 millions (USD 5.8 Millions) in the corresponding quarter of the
previous year, a growth of 70%.
Revenue from the Telecommunication and Office Automation business was Rs. 23095
millions (USD 516.9 Millions) as against Rs. 22437 millions (USD 502.2 Millions) in the corresponding quarter of the previous year. Profit before
interest and taxes was Rs. 615 millions (USD 13.8 Millions) as against Rs. 617 millions (USD 13.8 Millions) in the corresponding quarter of the previous year.
Consolidated EPS for the quarter was Rs 45 per share as against Rs. 38 per share in the corresponding quarter of
the previous year, a growth of 18%.
The Board of Directors has declared quarterly Interim dividend of Rs. 2/-
per share (100 % on an equity share of par value of Rs. 2/- each)
Conversion rate: 1 USD= 44.68 INR
Mr. Ajai Chowdhry, Chairman and CEO, HCL Infosystems Limited, commenting on the
results for the quarter ending December 31, 2006 said, "In the last
quarter, HCL consolidated its position on two key frontiers. They commissioned their second state-of-the-art integrated ICT manufacturing facility at
Uttranchal, which not only makes us India's leading PC manufacturer, but also
puts HCL in a strong position to capitalize on the growing opportunities in the
Indian PC market. Reaffirming their focus on PCs as
center of the digital lifestyle, they launched four new
desktop models with truly innovative features for the Indian market. The
distribution arm also sustained its forward momentum by expanding its retail
presence to 29 HCL Digilife outlets across the nation."
Quarter highlights:
This quarter saw HCL the leading PC manufacturer of India, announce its
commercial production in North India at Rudrapur, Uttaranchal. This has
enhanced the overall capacity of HCL. Beginning with the production of desktop
computers and LCD monitors, the plant has the capability to manufacture an
entire spectrum of IT products - including notebooks, servers as well as thin
clients.
The new HCL manufacturing base, which was completed in record eight months, has
already received its ISO 14001, ISO 9001:2000 certifications - ensuring that
all HCL products manufactured here, comply with global quality standards. The
facility has also boosted the development of regional economy with recruitment
of more than 200 local employees.
The new HCL facility is equipped with several state-of-the-art processes
as well as advanced testing techniques. These ensure that the various products
coming out from HCL assembly line are uniquely equipped to face the challenging
weather and extreme operating conditions in India. The unique 'Build-to-order'
(BTO) capabilities of the manufacturing plant pioneered by HCL thirty years ago
- enables HCL to manufacture ICT products with specific configurations -
customized to suit the needs of particular customers, in a matter of just few hours.
Reinforcing its leadership positioning, HCL launched the future generation of
digital lifestyle enablers - HCL Beanstalk 2007 Collection, this quarter. An
exquisite range of four new sleek and ultra-portable PCs that promise to
spearhead the transition of desktop PCs from workstations to epicenters of
'digital entertainment'. The range includes:
· HCL Beanstalk Nano - the smallest, ultra-portable premium home
PC in India with height of 42 mm and weight of 1.3 kg.
· HCL Beanstalk Lyfestyle - the first ever desktop PC to feature
digital user interface on its casing, with revolutionary multi-media access
features.
· HCL Beanstalk Dominator - Certified India's most powerful
gaming PC.
· HCL Beanstalk Slim
-
the ultra-slim, ultra-portable desktop.
All HCL Beanstalk PCs in this range are ready for Windows Vista - the new
generation software standard, soon to be launched. This new range of PCs from
HCL uses Intel's Core 2 Extreme processors to deliver immense speed and
responsiveness for digital media creation, high-end gaming and is aimed at
market segments, which crave absolute performance.
With this range - HCL Infosystems Limited., created marketing history in the Indian hardware sector - by becoming
the first-ever PC brand to be pre-launched on select websites - before hitting
the shelves of various stores nationwide.
HCL increased its stronghold in the growing Indian retail industry by emerging
as the number one vendor of 'Point of Sales '(PoS) solutions in India. HCL PoS
offerings saw a boost with launch of 4 new models, including HCL Ambience (XP,
XL and Light) and an Electronic Cash Register for low-end single shop owners.
In partnership with Toshiba, HCL introduced in India the world's first range of
eco-efficient consumer and business notebooks that are compliant with European
Union (EU) RoHS (Restriction of Hazardous Substances) directive.
Redefining standards of digital lifestyle retailing, HCL has expanded its chain
of exclusive Digital Lifestyle showrooms to Delhi, Ahmedabad, Hyderabad,
Ambala, Kanpur, Palwal this quarter, taking the total number of outlets to 29,
all over the nation.
HCL, besides being the "country's first" for concurrent global
launches of the latest computing technologies for the Indian Enterprise,
launched its innovative and groundbreaking 60-second PC restoration technology
EC2 this quarter.
EC2 is a technology primarily designed to minimize a system's downtime by
protecting it from unwanted and unpredictable changes and vulnerabilities of
the system's configuration, operating system, software settings, parameter
settings etc. caused by viruses, user's error, system crashes etc. The new
'non-stop series' of HCL 'Leaptop' notebooks are being shipped out with EC2
technology, a tremendous value-addition for notebook buyers.
In the enterprise segment HCL continued to win orders from leading players
across major industry verticals, enabling them to leverage ICT to enhance their
efficiencies and concentrate on their core business and serve their customers
better.
Large projects completed include Andaman and Nicobar computerization of schools
across 40 locations and 20 islands, Project for a leading bank involving
implementation of core banking hardware and servers in branches across 18
islands and computerization in all departments of Andaman and Nicobar
administration.
In the SMB segment, HCL partnered with ICICI to provide complete ICT solutions
to small and medium enterprises, with an array of customized finance options.
HCL organized an activity called SME knowledge series to reach out to the SME
segment. Several such events are planned in the next few months.
In the office automation space, HCL continued to bag several orders for MFDs,
copiers and printers from leading Corporates, Govt. and Hospitality segments. HCL
announced a tie-up with Nipson for high-end digital production printers, with
application in book printing, transactional printing and security printing this
quarter.
The overall telecommunication segment witnessed a healthy growth over the
corresponding quarter last year. The quarter saw some of the major wins for
Voice, Video Conferencing and Broadcast solutions from new customers across
diverse verticals coupled with good repeat business from existing customers.
HCL launched new Apple iPod models in the country this quarter; including iPod
Shuffle 1GB in new shapes and sizes, iPod nano with colour variants in 2GB, 4GB
and 8GB memory capacity and iPods in 30GB, 80GB. Apple also released the iPod
shuffle 512MB exclusively through HCL at attractive price.
Awards and Recognitions:
· HCL among the Top 50 Fastest
Growing Technology Companies in India and 'Top 500 Fastest Growing Technology
Companies in Asia Pacific by 'Deloitte and Touche'.
· HCL was adjudged and awarded
as the 'Best Distributor Partner in India' for its performance in the last six
months, at the Apple Partners Meet. This speaks volumes of HCL's expertise and
distribution strength, having bagged this award in the first year of its
partnership with Apple.
· 'Best Thin Clients Technology',
Best Projector (for Infocus), Best A-3 Multifunctional Device (for Toshiba)
Awards from VAR India Channel Publication.
· HCL Infosystems Limited was adjudged and awarded as the winner by
'`Dun and Bradstreet' in the computer hardware and peripherals sector for the
year 2006.
· HCL Infosystems Limited was recognized as Top PC Vendor 05-06' by
Dataquest in their DQ Top 20 Annual Survey.
· HCL Infosystems Limited received ELCINA Quality Award 2005-06 for Technology
Leadership and Innovation for India.
· HCL Infosystems Limited was awarded the 'Star Retailer Award' at
the Franchise India Holdings Limited Award Ceremony.
About HCL Infosystems
HCL Infosystems, with revenue (TTM) of US$ 2.7 billion (Rs. 12155 millions), is India's premier information enabling
and system integration company. HCL offers products and infrastructure
solutions in the fields of computing, communication, networking, office
automation, broadcasting and imaging. It has partnerships with leading global
players like Intel, AMD, Toshiba, Bull, Ericsson, Cisco, Microsoft, Nokia,
Apple, Computer Associates, Casio, Symantec and Konica Minolta among others.
HCL has a direct sales, channel sales and retail sales network pan India. HCL
has a support of 360+ customer service centers and four ISO 9001 certified
state-of-the-art manufacturing facilities. HCL Infosystems has pan India
presence across metros and non-metros. With a mission to provide world-class
information technology solutions and services to enable its customers to serve
their customers better, HCL Infosystems is forever setting new standards of IT
in the country.
About HCL Enterprise:
HCL Enterprise is a leading global technology and IT enterprise with
revenues (TTM) of US $ 3.8 billion (Rs. 17376 millions). The HCL Enterprise comprises two companies listed in India - HCL
Technologies and HCL Infosystems. The 3-decade-old enterprise, founded in 1976,
is India's original IT garage start-up. Its range of offerings span Product Engineering,
Technology and Application Services, BPO, Infrastructure Services, IT Hardware,
Systems Integration, and distribution of ICT products. The HCL team comprises
43,000 professionals of diverse nationalities, who operate from 16 countries
including 360 points of presence in India. HCL has global partnerships with
several leading Fortune 1000 firms, including leading IT and Technology firms.
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.42.30 |
|
UK Pound |
1 |
Rs.84.11 |
|
Euro |
1 |
Rs.57.33 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
55 |
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 |
|