%20COMPANY%20PRIVATE%20LIMITED%20-%20MAYUR%2003-Jul-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
HUAWEI TELECOMMUNICATIONS ( |
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Registered Office : |
4th
Floor, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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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 90000 |
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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 records. 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, |
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Tel. No.: |
91-124-412 7888 /
401 0888 / 2563492 |
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Fax No.: |
91-124-256 3494 /
2563493 |
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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, |
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Date of Birth
: |
02.04.1941 |
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Date of Appointment : |
23.07.2002 |
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Name : |
Mr. Wang Cheng
(Foreigner) |
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Designation : |
Director |
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Address : |
Level 46, |
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Date of Birth
: |
19.09.1964 |
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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, |
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Date of Birth
: |
31.10.1965 |
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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, |
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Date of Birth
: |
19.10.1965 |
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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, |
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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 |
|
Address : |
Flat No. 11, Shivtirath,
Co-operative Housing Society, |
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Date of Birth
: |
21.03.1973 |
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Date of
Appointment : |
30.09.2004 |
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Name : |
Mr. Kaijun Yang |
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Designation : |
Additional
Director |
|
Address : |
5-8 B, Yihuju
Apartment, Shuixiehuadu Colony, |
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Date of Birth
: |
30.12.1971 |
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Date of Appointment
: |
21.03.2007 |
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Name : |
Mr. Shaohua Ding |
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Designation : |
Additional
Director |
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Address : |
A-2A, |
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Date of Birth
: |
16.11.1965 |
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Date of
Appointment : |
21.03.2007 |
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Name : |
Mr. Yong Xia |
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Designation : |
Additional
Director |
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Address : |
A 9-2-16R, |
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Date of Birth
: |
22.08.1969 |
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Date of
Appointment : |
21.03.2007 |
KEY EXECUTIVES
|
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 |
|
Designation : |
Company
Secretaries |
|
Address |
“Smreedhi”, C-8/8834, Vasant Kunj, |
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Phone |
91-11-26137527, 26135734 |
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|
91-98100-44367 |
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Fax |
91-11-26137522 |
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E Mail |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Surjit Kumar
Kapoor |
|
9,999 |
|
Vinita Gurung |
|
1 |
|
Huawei Tech
Investment Company Limited |
|
259,528 |
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Total |
|
269,528 |
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Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
96.28 |
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Directors of relatives of directors |
|
3.72 |
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Total
|
|
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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|
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Products : |
Wireless
network ·
UMTS,
GSM/GPRS/EDGE, GSM-T/GSM-R, CDMA2000, IMS, 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, Wireless
Terminals: ·
UMTS
handset, CDMA handset, CDMA Fixed Terminal, Wireless Data Card, and Wireless
Module |
GENERAL INFORMATION
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No. of Employees : |
350 |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
BSR &
Associates Chartered
Accountants |
|
Address : |
4 B, DLF Corporate Park, |
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Associates/Subsidiaries : |
Huwai Technologies India Private Limited Level 3, Leela Galleria, The 91 80 41781770 91 80 25278248 Software Development - B, C, D Tower, 1st Floor,
Commercial Block, Diamond District, |
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 |
|
562300 |
Equity Shares |
Rs.10 /- each |
Rs. 5.623 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.623 |
2.695 |
2.695 |
|
|
2] Share Application Money |
0.000 |
4.805 |
4.805 |
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|
3] Reserves & Surplus |
18.980 |
10.894 |
2.443 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
24.603 |
18.394 |
9.943 |
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LOAN FUNDS |
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|
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
24.603 |
18.394 |
9.943 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.216 |
17.499 |
0.433 |
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DEFERREX TAX ASSETS |
13.471 |
2.620 |
0.248 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
77.826
|
0.956 |
4.901 |
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Cash & Bank Balances |
1.020
|
5.723 |
4.621 |
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Other Current Assets |
177.138
|
63.736 |
0.000 |
|
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Loans & Advances |
55.318
|
24.306 |
7.107 |
|
Total
Current Assets |
311.302
|
94.721 |
16.629 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
281.449
|
88.883 |
4.891 |
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Provisions |
38.984
|
7.656 |
2.617 |
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Total
Current Liabilities |
320.433
|
96.539 |
7.508 |
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Net Current Assets |
[9.131]
|
[1.818] |
9.121 |
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MISCELLANEOUS EXPENSES |
0.047 |
0.093 |
0.140 |
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TOTAL |
24.603 |
18.394 |
9.943 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
479.807 |
165.504 |
47.148 |
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Other Income |
0.972 |
|
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Total Income |
480.779 |
165.504 |
47.148 |
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Profit/(Loss) Before Tax |
13.409 |
8.451 |
3.510 |
|
Provision for Taxation |
12.713 |
-- |
1.860 |
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Profit/(Loss) After Tax |
0.696 |
8.451 |
1.650 |
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Earnings in Foreign Currency : |
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Total Earnings |
337.296 |
100.013 |
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Total Expenditure |
467.370 |
157.053 |
43.412 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
0.14
|
5.11 |
3.50 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.79
|
5.11 |
7.44 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.04
|
7.53 |
20.57 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.46 |
0.35 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
13.02
|
5.25 |
0.76 |
|
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|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
0.98 |
2.21 |
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
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
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.66 |
|
|
1 |
Rs.81.70 |
|
Euro |
1 |
Rs.55.05 |
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 |
|
|
|
--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 |
|