MIRA
INFORM REPORT
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Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DELL INDIA PRIVATE LIMITED |
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Formerly Known As : |
DELL COMPUTER INDIA PRIVATE LIMITED |
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Registered Office : |
Divyashree Greens, Ground Floor, SY Nos,12/1,12/2/A and 13/1A, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.11.2003 |
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Com. Reg. No.: |
08-32926 |
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CIN No.: [Company
Identification No.] |
U729000KA2003PTC032926 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRD02621D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provides Technical Support, Customer Service, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 250000 |
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Status : |
Good |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Dell Group, multinational Corporation. It has a strong capital base. No further details are available. The company can be considered normal for business dealings at usual trade terms and conditions on merits. |
LOCATIONS
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Registered Office : |
Divyashree Greens, Ground Floor, SY Nos,12/1,12/2/A and 13/1A, |
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Tel. No.: |
91-80-25357311 |
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Fax No.: |
91-80-25357309 |
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Email : |
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Website : |
DIRECTORS
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Name : |
Mr. William Joseph
Amelio |
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Designation : |
Director |
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Address : |
24, |
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Date of Birth/Age : |
25.11.1957 |
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Date of Appointment : |
27.11.2003 |
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Date of Ceasing : |
21.12.2005 |
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Name : |
Mr. Thomas Harold
Welch |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
23.02.1955 |
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Date of Appointment : |
08.12.2003 |
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Name : |
Mr. Daniel Timothy Creedon |
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Designation : |
Director |
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Address : |
18 K Queen Astrid Park, |
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Date of Birth/Age : |
26.08.1965 |
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Date of Appointment : |
27.11. 2003 |
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Name : |
Mr. Felice Joseph Stephen |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
19.03.1957 |
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Date of Appointment : |
21.12.2005 |
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Date of Ceasing : |
29.12.2006 |
KEY EXECUTIVE
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Name : |
Mr. Aswath Gurudutt |
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Designation : |
C – 301, Mantri pride, |
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Date of Appointment : |
Company Secretary |
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Date of Birth/Age : |
25.12.1963 |
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Date of Appointment : |
10.03.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Dell International Incorporation |
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2499999 |
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Dell International Holdings VIII B.V. |
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1 |
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Total |
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2500000 |
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Category |
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Percentage of
Holding |
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Foreign holdings(foreign institutional
investor(s), Companies(s) foreign Financial institution , Non-resident Indian
or overseas corporate bodies or others |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Provides Technical Support, Customer Service, etc.. |
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Products : |
Computer Hardware |
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Exports to: |
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Imports from: |
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GENERAL INFORMATION
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Suppliers : |
DELL, |
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Customers : |
DELL, |
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No. of Employees : |
Around 1000 |
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Bankers : |
Citi Bank, |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Chartered Accountants
Chartered Accountants
Chartered Accountants |
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Address : |
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Ultimate Holding Company : |
Dell Inc, |
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Folding Company : |
Dell International Inc. |
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Fellow Subsidiaries : |
Dell Asia Pacific Sdn. Dell International Services India Private Limited, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
01.04.2005 to 31.03.2006 [12 Months] |
01.11.2004 to 31.03.2005 [5 Months] |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
25.000 |
25.000 |
25.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
38.880 |
25.358 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
[0.250] |
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NETWORTH |
63.880 |
50.358 |
24.750 |
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LOAN FUNDS |
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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 |
0.000 |
0.000 |
0.000 |
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TOTAL |
63.880 |
50.358 |
24.750 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
72.592 |
43.529 |
0.000 |
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Capital work-in-progress |
0.000 |
3.287 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
100.171 |
2.522 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
503.214
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305.383 |
0.000 |
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Sundry Debtors |
885.506
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350.905 |
0.000 |
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Cash & Bank Balances |
372.304
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231.846 |
24.851 |
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Other Current Assets |
8.427
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7.364 |
0.000 |
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Loans & Advances |
506.289
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294.194 |
0.000 |
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Total
Current Assets |
2275.740
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1189.692 |
24.851 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2012.501
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1061.237 |
0.101 |
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Provisions |
372.122
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127.435 |
0.000 |
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Total
Current Liabilities |
2384.623
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1188.672 |
0.101 |
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Net Current Assets |
[108.883]
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1.020 |
24.750 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
63.880 |
50.358 |
24.750 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
01.04.2005 to 31.03.2006 [12 Months] |
01.11.2004 to 31.03.2005 [5 Months] |
31.03.2004 |
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Sales Turnover |
4828.733 |
1434.056 |
NA |
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Other Income |
4.595 |
7.244 |
0.000 |
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Total Income |
4833.328 |
1441.300 |
NA |
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Profit/(Loss) Before Tax |
41.187 |
44.086 |
(0.250) |
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Provision for Taxation |
27.665 |
18.478 |
0.000 |
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Profit/(Loss) After Tax |
13.522 |
25.608 |
(0.250) |
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Earnings in Foreign Currency : |
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Income for Support Services |
11.752 |
73.719 |
NA |
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Total Earnings |
11.752 |
73.719 |
NA |
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Imports : |
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Traded Items |
2939.705 |
752.027 |
NA |
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Stores & Spares |
564.517 |
140.249 |
NA |
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Capital Goods |
11.828 |
2.749 |
NA |
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Total Imports |
3516.050 |
895.025 |
NA |
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Expenditures : |
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Prior period Adjustments |
7.861 |
0.000 |
NA |
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Depreciation |
9.953 |
5.675 |
NA |
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Other Expenditure |
4774.327 |
1391.539 |
NA |
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Total Expenditure |
4792.141 |
1397.214 |
NA |
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KEY RATIOS
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PARTICULARS |
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01.04.2005 to 31.03.2006 [12 Months] |
01.11.2004 to 31.03.2005 [5 Months] |
31.03.2004 |
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PAT / Total Income |
(%) |
0.28
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1.78 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.85
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3.07 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.75
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3.57 |
(1.00) |
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Return on Investment (ROI) (PBT/Networth) |
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0.64
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0.88 |
(0.01) |
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Debt Equity Ratio (Total Liability/Networth) |
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37.33
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23.60 |
0.004 |
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Current Ratio (Current Asset/Current Liability) |
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0.95
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1.00 |
246.05 |
LOCAL AGENCY FURTHER INFORMATION
Pursuant to an agreement dated November 1, 2004 [effective date] with
Dell International Services Private Limited, formerly known as Dell Computer
India Private Limited, the subject company has taken over all assets and
liabilities relating to the Sale Division Business of Dell India Private
Limited.
As Per Web Site:
A Company is a trusted and diversified information
technology supplier and partner employing 65200 employees worldwide working
towards selling a comprehensive portfolio of products and services to customers
worldwide. Dell is recognized by Fortune magazine as
Company was incorporated in 1996.Dell’s direct operations 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
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Indian Rupees |
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US Dollar |
1 |
Rs.39.49 |
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1 |
Rs. 80.41 |
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Euro |
1 |
Rs. 55.76 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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32 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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