MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALCATEL LUCENT INDIA LIMITED |
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Formerly known as : |
ALCATEL NETWORK SYSTEMS INDIA LIMITED |
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Registered Office : |
202-206, Tolstoy House, 15, Tolstoy Marg, New Delhi 110001 |
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Country : |
India |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
05.03.1992 |
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Com. Reg. No.: |
047870 |
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CIN No.: [Company
Identification No.] |
U72200DL1992PLC047870 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA03947G |
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PAN No.: [Permanent
Account No.] |
AACCA8667N |
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Legal Form : |
It is a Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturing of Digital Switching Exchanges and Cellular Exchanges for use in Telephone Exchange, Data Networking such as I-Net, Transmission System for Optical Fibre & Cables, to provide complete Cellular Infrastructure and all Cellular Network. |
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 2300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations are fair. The Company has incurred loss during the
year 2006 and has some accumulated losses.
Payments are reported as slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
202-206, Tolstoy House, 15, Tolstoy Marg, New Delhi 110001, India |
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Tel. No. : |
91-11-23714408 |
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Fax No. : |
91-11-23357097 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 25, Udyog Vihar, Gurgaon 122015, Haryana, India |
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Tel. No.: |
91-124-2455050 |
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Head Office/Factory |
Plot No. 25, Electronic City, Sector – 18, Gurgaon – 122 015, Haryana, India |
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Tel. No.: |
91-124-26341728 /1729 /1730 /1731 / 1732/7390 |
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Fax No.: |
91-124-26340265 /26340152 / 26324079 |
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Corporate Office : |
14th floor, Tower C DLF Cyber Green, DLF City, Gurgaon
122001, Haryana, India |
DIRECTORS
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Name : |
Mr. Michel Vetil |
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Designation : |
Managing Director |
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Address : |
1, Champa Marg, DLF Phase II, Gurgaon, Haryana, India |
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Date of Birth/Age : |
09.07.1942 |
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Date of Appointment : |
01.01.1995 |
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Date of Ceasing : |
09.04.1997 |
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Name : |
Mr. Raghunath Murti |
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Designation : |
Director |
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Address : |
M 1/13, DLF Phase II, Gurgaon, Haryana, India |
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Date of Birth/Age : |
31.10.1948 |
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Date of Appointment : |
04.12.1995 |
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Date of Ceasing : |
05.02.1999 |
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Name : |
Mr. Gerard Dega |
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Designation : |
Director |
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Address : |
21, Ter Rue de la Liberte Savingny France |
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Date of Birth/Age : |
25.05.1949 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
18.09.1998 |
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Name : |
Mr. Yves Lucas |
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Designation : |
Director |
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Address : |
12, Avenue Sainte, Genevieve, France |
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Date of Birth/Age : |
03.12.1942 |
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Date of Appointment : |
07.06.1995 |
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Date of Ceasing : |
18.09.1998 |
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Name : |
Mr. Ashoke Daga |
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Designation : |
Director |
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Address : |
B-4/54, 2nd floor, Safdarjung Enclave, New Delhi 110029 |
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Date of Birth/Age : |
01.03.1942 |
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Date of Appointment : |
22.08.1996 |
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Date of Ceasing : |
10.04.1997 |
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Name : |
Mr. Usha Saha |
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Designation : |
Director |
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Address : |
B – 17778, sector B, Pocket, Vasant Kunj, New Delhi, India |
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Date of Birth/Age : |
01.10.1934 |
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Date of Appointment : |
22.08.1996 |
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Date of Ceasing : |
10.04.1997 |
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Name : |
Mr. Michel Antony |
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Designation : |
Director |
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Address : |
IIIC,11th floor, Market Towers, Cuffe Parade, Backbay
Reclamation, Mumbai 400005, Maharashtra, India |
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Date of Birth/Age : |
14.06.1943 |
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Date of Appointment : |
22.08.1996 |
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Date of Ceasing : |
05.02.1999 |
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Name : |
Mr. Michel Fena |
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Designation : |
Director |
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Address : |
C/o, 4th floor, Allahabad Bank Building, 17, Parliament
Street, New Delhi, India |
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Date of Birth/Age : |
27.04.1939 |
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Date of Appointment : |
13.05.1996 |
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Date of Ceasing : |
18.09.1998 |
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Name : |
Mr. Michel Delaye |
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Designation : |
Director |
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Address : |
7, Avenue Bellefortere, France |
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Date of Birth/Age : |
04.11.1940 |
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Date of Appointment : |
07.06.1995 |
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Date of Ceasing : |
18.09.1998 |
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Name : |
Mr. Pierre Guiche |
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Designation : |
Director |
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Address : |
48, Vital 922, Neuilly, France |
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Date of Birth/Age : |
06.11.1932 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
07.06.1995 |
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Name : |
Mr. Dilip Modi |
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Designation : |
Director |
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Address : |
36, Amrita Shergil Marg, New Delhi, India |
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Date of Birth/Age : |
12.03.1974 |
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Date of Appointment : |
03.04.1992 |
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Date of Ceasing : |
04.12.1995 |
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Name : |
Mr. Roop Chand Jain |
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Designation : |
Director |
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Address : |
409, Sector 15 A, Noida 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
01.09.1941 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
03.03.1995 |
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Name : |
Mr. Chamanlal Turki Dhar |
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Designation : |
Director |
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Address : |
2001, Belscot Tower, Lokhandwala Complex, Andheri [West], Mumbai
400058, Maharashtra, India |
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Date of Birth/Age : |
11.02.1940 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
01.01.1995 |
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Name : |
Mr. Jean Yuves Fizellier |
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Designation : |
Director |
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Address : |
32, Raymond Poincan, 92380 Graches, France |
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Date of Birth/Age : |
04.04.1938 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
03.04.1992 |
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Name : |
Mr. Chistan Ducret |
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Designation : |
Director |
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Address : |
F-2/2, Vasant Vihar, New Delhi, India |
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Date of Birth/Age : |
03.10.1938 |
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Date of Appointment : |
03.04.1992 |
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Date of Ceasing : |
01.01.1995 |
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Name : |
Mr. Louis Companyo |
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Designation : |
Director |
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Address : |
37, Rue Vital, 75116, France |
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Date of Birth/Age : |
11.01.1939 |
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Date of Appointment : |
03.04.1992 |
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Date of Ceasing : |
13.05.1996 |
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Name : |
Mr. Jaikumar Dahejia |
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Designation : |
Director |
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Address : |
C/o. Maurya Sheraton Hotel, Diplomatic Enclave, New Delhi |
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Date of Birth/Age : |
09.04.1992 |
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Date of Appointment : |
06.06.1994 |
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Date of Ceasing : |
19.12.1994 |
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Name : |
Mr. Shashidhar Umanath Ullal |
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Designation : |
Director |
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Address : |
Flat No. 16, Kallol Co-operative Society, 45 Patparganj, New Delhi,
India |
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Date of Birth/Age : |
06.12.1935 |
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Date of Appointment : |
29.03.1995 |
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Date of Ceasing : |
18.07.1995 |
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Name : |
Mr. K. Swetharan Yan |
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Designation : |
Director |
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Address : |
S-515, Greater Kailash, New Delhi, India |
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Date of Birth/Age : |
07.03.1949 |
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Date of Appointment : |
04.12.1995 |
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Date of Ceasing : |
22.08.1996 |
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Name : |
Mr. Pradeep Kaur |
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Designation : |
Director |
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Address : |
C-54, East of Kailash, New Delhi 110065, India |
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Date of Birth/Age : |
19.02.1957 |
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Date of Appointment : |
04.12.1995 |
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Date of Ceasing : |
22.08.1996 |
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Name : |
Mr. P. M. Pai |
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Designation : |
Director |
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Address : |
M-78, Greater Kailash, New Delhi 110048, India |
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Date of Birth/Age : |
07.05.1948 |
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Date of Appointment : |
04.12.1995 |
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Date of Ceasing : |
22.08.1996 |
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Name : |
Mr. Om Prakash Dani |
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Designation : |
Director |
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Address : |
Akshaya, ‘A’ 28, Sector XXVI, Noida 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
30.04.1949 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
03.04.1992 |
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Name : |
Mr. Manual Gordillo |
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Designation : |
Director |
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Address : |
C/o 10 Rue Late Coere, 78141 Velizy, France |
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Date of Birth/Age : |
21.06.1947 |
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Date of Appointment : |
18.09.1998 |
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Date of Ceasing : |
30.06.2000 |
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Name : |
Mr. Etience Fouques |
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Designation : |
Director |
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Address : |
C/o 10 Rue Late Coere, 78141 Velizy, France |
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Date of Birth/Age : |
13.10.1948 |
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Date of Appointment : |
18.09.1998 |
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Date of Ceasing : |
24.02.1999 |
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Name : |
Mr. Umang Das |
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Designation : |
Director |
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Address : |
1-8, Mathura Road, Jungpura, New Delhi, India |
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Date of Birth/Age : |
31.01.1949 |
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Date of Appointment : |
10.04.1997 |
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Date of Ceasing : |
05.02.1999 |
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Name : |
Mr. Avinash Kale |
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Designation : |
Director |
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Address : |
4, Rue De Wolfen butle 91320, France |
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Date of Birth/Age : |
10.07.1950 |
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Date of Appointment : |
10.04.1997 |
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Date of Ceasing : |
05.02.1999 |
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Name : |
Mr. Jean Michel Callot |
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Designation : |
Director |
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Address : |
3/13, Shanti Niketan, New Delhi, India |
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Date of Birth/Age : |
13.12.1938 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
03.04.1992 |
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Name : |
Mr. Raghunath Murti |
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Designation : |
Director |
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Address : |
1/13, DLF Phase II, Gurgaon, Haryana, India |
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Date of Birth/Age : |
31.10.1948 |
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Date of Appointment : |
05.02.1999 |
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Date of Ceasing : |
08.06.1999 |
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Name : |
Mr. Philippe Simon |
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Designation : |
Director |
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Address : |
S-236, Pancheel Park, New Delhi 110017, India |
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Date of Birth/Age : |
23.02.1942 |
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Date of Appointment : |
19.02.2000 |
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Date of Ceasing : |
30.06.2000 |
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Name : |
Mr. Gerard Dega |
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Designation : |
Director |
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Address : |
21, Rue De La, Sarighy Surorge, France |
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Date of Birth/Age : |
26.05.1949 |
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Date of Appointment : |
06.07.2000 |
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Date of Ceasing : |
30.11.2000 |
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Name : |
Mr. Christian Lacroix |
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Designation : |
Director |
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Address : |
10, Rue De Pere , France |
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Date of Birth/Age : |
18.04.1948 |
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Date of Appointment : |
06.07.2000 |
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Date of Ceasing : |
21.02.2001 |
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Name : |
Mr. Jean Franck Laiheuge |
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Designation : |
Director |
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Address : |
101, Rue Lauriston 75116, France |
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Date of Birth/Age : |
26.05.1958 |
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Date of Appointment : |
12.12.2002 |
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Name : |
Mr. Jean Franck Laiheuge |
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Designation : |
Director |
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Address : |
101, Bis Rue Lauriston 75116, France |
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Date of Birth/Age : |
26.05.1958 |
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Date of Appointment : |
12.12.2002 |
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Name : |
Mr. Ravi Sharma |
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Designation : |
Director |
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Address : |
21/604, Heritage City, Gurgaon 122002, Haryana, India |
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Date of Birth/Age : |
01.01.1962 |
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Date of Appointment : |
12.12.2002 |
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Name : |
Mr. Nicolas Barre |
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Designation : |
Director |
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Address : |
74, Rue Ernest Renan, Meudon 092190 |
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Date of Birth/Age : |
16.04.1958 |
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Date of Appointment : |
13.10.2005 |
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Name : |
Mr. Dominique Labbe de la Genardiere |
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Designation : |
Director |
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Address : |
12, Rue Borgins – Desbordes, Versailees 078000 |
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Date of Birth/Age : |
19.02.1945 |
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Date of Appointment : |
26.06.2001 |
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Name : |
Mr. Bhupender Modi |
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Designation : |
Director |
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Address : |
36, Amrita Shergil Marg, New Delhi, India |
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Date of Birth/Age : |
02.01.1949 |
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Date of Appointment : |
05.03.1992 |
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Date of Ceasing : |
05.02.1999 |
KEY EXECUTIVES
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Name : |
Mr. Survesh Mathur |
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Designation : |
Company Secretary |
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Address : |
554, Mount, Kailash Tower No. 3, DDA SFS Flats, East of Kailash, New
Delhi 110065, India |
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Date of Birth/Age : |
14.06.1957 |
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Date of Appointment : |
03.04.1992 |
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Date of Ceasing : |
31.05.1995 |
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Name : |
Mr Rupesh Kumar |
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Designation : |
Company Secretary |
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Address : |
4/56, Old Rajindera Nagar, New Delhi 110060, India |
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Date of Birth/Age : |
08.06.1957 |
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Date of Appointment : |
01.12.1995 |
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Date of Ceasing : |
30.06.2005 |
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Name : |
Mr. G. L. Agrawal |
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Designation : |
Company Secretary |
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Address : |
B-204, Sanskrit, Plot No. GH – 5, Sector 43, Gurgaon 122002 |
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Date of Birth/Age : |
10.03.1965 |
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Date of Appointment : |
01.07.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Alcatel CIT |
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49844426 |
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Alcatel Participations |
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285855 |
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Lubelec |
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29 |
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Florelec |
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14 |
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Coralec |
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29 |
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Societe Immobillerre Kleber Lauriston |
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29 |
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Alcatel Participations Chine |
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29 |
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Telpart |
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14 |
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Johann Le Frapper |
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1 |
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Pascal Remy |
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1 |
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Therry de Loppinot |
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1 |
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Philippe Boivin |
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1 |
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Christiane Haroche |
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1 |
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Nathalie Trolex |
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1 |
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Francois de laboulaye |
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1 |
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Donald Fitzpatrcik |
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1 |
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Surya Jhunjhunwala |
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42900 |
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Pritam Hakumal |
|
5720 |
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Boriawala Bakir Hakimuddin / Boriawala Nafisa Bakir |
|
2860 |
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Boriawala Shabbir Hakimuddin / Boriawala Baful Shabbir |
|
2860 |
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Boriawala Saifuddin Hakimuddin / Boriawala Samira Saifuuding |
|
2860 |
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Boriawala Moiz Hakimuddin / Boriawala Mehjabeen |
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2860 |
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Boriawala Mansur Hakimuddin / Boriawala Nafisa |
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2860 |
|
Madan Melwani |
|
8580 |
|
Modi Corp Limited |
|
1430 |
|
Vincent Commercial Company Limited |
|
14300 |
|
Energetic Marketing [Private] Limited |
|
2860 |
|
Mega Resources Limited |
|
14300 |
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Mr. Deepak Bhojwani |
|
11440 |
|
Rajiv Naren Punater |
|
2860 |
|
N. Ramanan |
|
1 |
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Anil Khosla |
|
1 |
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S. Narayanan |
|
1 |
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Mr. Deepak Bhojwani / Ms. Saroj Bhojwani |
|
11440 |
|
Mr. Ajay Asn |
|
1 |
|
Nishant Dalmia |
|
9666 |
|
Vedant Dalmia |
|
4833 |
|
Siddhant Dalmia |
|
4833 |
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John James |
|
1 |
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Total |
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50279900 |
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Equity Share Break-up |
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Percentage of
Holding |
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Foreign Holdings |
|
99.83 |
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Bodies Corporate |
|
0.07 |
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Others |
|
0.10 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Market Digital Switching Equipments and
related Software, Cellular Exchange Equipment and related services. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
315 |
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Bankers : |
Ř Credit Agricol Indosuez Ř Credit Lyonnais Ř Standard Chartered Bank Limited, Sansad Marg, New Delhi Ř Societe General Credit Lyonnais Ř American Express Bank Limited, Hamilton House, Cannaught Place, 'A' Block, New Delhi Ř BNP Paribus, New Delhi Ř Banque Nationale De Parts 15, Barakhamba Road, New Delhi, India |
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Facilities : |
The term loan of Euro 6.8 Millions from Alcatel CIT carries an
interest rate of 0.2 per cent over the six monthly EURIBOR, repayable in eight
half yearly installments beginning from eighteen months after the drawdown
date i.e. 24.10.2000. Amount
repayable in one year is Euro 6.8 Millions equivalent to Rs. 385.485 Millions
During the year 2003, Alcatel waived the interest of Euro 845.010
equivalent to Rs. 48.673 Millions on the above loan. This interest waiver was included under
other income in previous year Deferred payments credits amounting to Rs. 257.966 Millions represent
amount due to Alcatel for the purchase of cellular exchange equipment and
related services towards the company’s contract with Koshika Telecom
Limited. The import of cellular
exchange equipment and related services is under the supplier’s credit
facility and is approved by the Government of India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
MCT House, One Okhla Centre, Block A, Okhla Institutional Area, New
Delhi 110025, India |
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Holding Company : |
Alcatel CIT, France |
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Fellow Subsidiaries [with whom
the company had transactions]: |
Ř Alcatel ITS
Europe Ř Alcatel Japan
Limited Ř Alcatel Portugal
SA Ř Alcatel
Converter Ř Alcatel
Coutances Ř Alcatel ITS USA Ř Alcatel Canada
Inc. Ř Alcatel Inc. USA Ř Alcanet
International Ř Alcatel Network
MSC sdn Bhd Malaysia Ř Alcatel Business
System Ř Alcatel Espain
SA Ř Alcatel Trade
International AG Ř Alcatel
Development India Private Limited Ř Radio Frequency
System Ř Alcatel Network
Systems Ř Alcatel Network System
USA Ř Alcatel
Singapore Ř Alcatel Telecom
Limited Ř TCL and Alcatel
Mobile Phones SAS |
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|
Associates: |
Ř Modi Rubber Limited – Manufacturers of Automotive Tyres and Tubes in Technical collaboration with Continental AG., Germany Ř Modi Olivetti Limited – Manufacturers of Computers in collaboration with Ing C. Olivetti & C., Spa., Italy Ř Modi Xerox Limited - Manufacturers of copiers in collaboration with Rank Xerox Limited, UK Ř Bombay Tyres International Limited – Manufacturers of Tyres and Tubes in Technical collaboration with Continental AG., Germany Ř Indian Telecom Private Limited – Cellular Mobile Telephone Network in collaboration with Telstra, Australia. Ř Modiluft – Domestic Air Taxi services in collaboration with Luftansa, Germany Ř Godfrey Phillips India Limited – Cigarettes and Leaf Tobacco Exporters, Tea and Real Estate, in collaboration with Phillip Moris Inc., USA for cigarettes. Ř Bihar Spong Iron Limited - Manufacture of High Value Special and Alloy Steel products in collaboration with Lurgi GmbH, Germany. Ř Modi Threads Limited – Synthetic and cotton sewing and embroidery thread and yarn in collaboration with Ackermann of Germany, Meeco Group of US and Hanro of UK. Ř Gujarat Guardian Limited – Manufacturers of Float Glass, in collaboration with Guardian Industries Limited, USA Ř Modi Hoover Limited – Manufacturers of Vaccum Cleaners and other Home Appliances in collaboration with Hoover – a subsidiary of Mytang Corporation USA. Ř Modi Industries Limited – Comprising Modi Steels for manufacturing Sophisticated range of Wire rods and Wires, a Distillery unit and another to produce Sugar. Ř Win Medicate Limited – Manufacturers and marketers of licensed Pharmaceutical Drugs in collaboration with Sterling Drug Inc., USA Ř Modi Mirrless Blackstone Limited – Manufacturers of Baseload Diesel Engines in collaboration with Mirrless Blackstone of UK Ř Modi GBC Limited – Preservation and presentation Systems in collaboration with General Binding Corporation, USA Ř WD Consumer Products (Private) Limited – Manufacturers of range of Consumer products in joint venture with Walt Disney Company, USA Ř Modi Telemaqtics Limited Ř Modi Electric Supply Company Limited Ř Modi Business Machine Limited Ř Modi Fibers Limited Ř Modi Spinning and Weaving Mills Company Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs. 10/- each |
Rs. 1250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50279900 |
Equity Shares |
Rs. 10/-
each |
Rs. 502.799
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2006 |
31.12.2005 |
31.03.2005 [15 months] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
502.799 |
502.799 |
502.799 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
238.478 |
511.545 |
238.478 |
|
|
4] (Accumulated Losses) |
[148.991] |
0.000 |
0.000 |
|
|
NETWORTH |
592.286 |
1014.344 |
741.277 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
401.446 |
254.819 |
271.219 |
|
|
2] Unsecured Loans |
703.676 |
642.263 |
650.970 |
|
|
TOTAL BORROWING |
1105.122 |
897.082 |
922.189 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1697.408 |
1911.426 |
1663.466 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
92.364 |
128.285 |
106.985 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
339.766 |
225.731 |
265.867 |
|
|
Sundry Debtors |
2512.328 |
2834.758 |
2587.521 |
|
|
Cash & Bank Balances |
106.268 |
9.768 |
16.026 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
332.898 |
150.152 |
90.380 |
|
Total
Current Assets |
3291.260
|
3220.409 |
2959.794 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1550.071 |
1204.504 |
1403.735 |
|
|
Provisions |
136.145 |
232.764 |
0.000 |
|
Total
Current Liabilities |
1686.216
|
1437.268 |
1403.735 |
|
|
Net Current Assets |
1605.044 |
1783.141 |
1556.059 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.422 |
|
|
|
|
|
|
|
|
TOTAL |
1697.408 |
1911.426 |
1663.466 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.12.2006 |
31.12.2005 |
31.03.2005 [15 months] |
|
|
Sales Turnover |
2023.627 |
2165.736 |
2851.357 |
|
|
Other Income |
28.948 |
55.030 |
40.063 |
|
|
Total Income |
2052.575 |
2220.766 |
2891.420 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
[401.381] |
286.332 |
[729.481] |
|
|
Provision for Taxation |
20.677 |
12.483 |
[117.702] |
|
|
Profit/(Loss) After Tax |
[422.058] |
273.489 |
[847.183] |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
269.256 |
441.067 |
2482.196 |
|
|
Operating Expenses |
0.000 |
0.000 |
746.874 |
|
|
Provision for foreseeable contract loss |
0.000 |
0.000 |
291.690 |
|
|
Purchases made for re-sale |
760.696 |
809.854 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
416.092 |
188.402 |
0.000 |
|
|
Managerial Remuneration |
22.158 |
11.508 |
0.000 |
|
|
Payment to Auditors |
1.746 |
1.745 |
0.000 |
|
|
Interest |
44.940 |
15.724 |
0.000 |
|
|
Insurance Expenses |
4.918 |
4.644 |
0.000 |
|
|
Power & Fuel |
16.056 |
14.174 |
0.000 |
|
|
Financial Charges |
|
|
36.216 |
|
|
Depreciation & Amortization |
52.371 |
57.192 |
63.925 |
|
|
Other Expenditure |
865.723 |
390.124 |
0.000 |
|
Total Expenditure |
2453.956 |
1934.434 |
3620.901 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
31.03.2005 [15 months] |
|
PAT / Total Income |
(%) |
[20.56]
|
12.31 |
[29.29] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[19.83]
|
13.22 |
[25.58] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[11.86]
|
8.55 |
[23.78] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.67]
|
0.28 |
[0.98] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.71
|
2.30 |
3.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95
|
2.24 |
2.10 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The registered office of the company has been shifted from 5, Sikandar
Road, 1st floor, New Delhi 110001, India to present w.e.f.
06.11.2007.
HISTORY
The company was jointly promoted by Alcatel CIT, France and the B. K.
Modi Group in India, with Alcatel CIT having a 51% equity stake.
The company was incorporated as a closely held public limited company in
India on 5th March, 1992 under the name and style of Alcatel Modi
Network Systems India Limited having Company Registration Number 47870, to
manufacture and market Digital Switching Equipments and related Software,
Cellular Exchange Equipment and related services. The certificate of commencement of business was issued by the
R.O.C. on 13th March, 1992.
The company commenced commercial production in February, 1994.
Alcatel CIT has obtained from the Department of Industrial Policy and
Promotion, Ministry of Industry, got vide their letter dated 21st
April, 1999, an approval to increase its equity stake in the company to 100%
and is in the process of effecting the transfer of shares. In line with above
Alcatel has increased it shareholding in the company to over 98% and is in the
process of further acquiring the shares.
The name of the company was changed from Alcatel Network Systems India
Limited to present name and style during 1999.
Form 8
Bankers Charges
Report as per Registry
|
This Form is for |
Modification of charge |
|
Charge
identification number of the charge to be modified |
80023074 |
|
Corporate
identity number of the company |
U72200DL1992PLC047870 |
|
Name of the
company |
ALCATEL SOUTH
ASIA LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Sikandra Road, 1st
floor, New Delhi 110001, India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Societe Generale 6th floor,
Mohan Dev, 13, Tolstoy Marg, Delhi, India |
|
Nature of
description of the instrument creating or modifying the charge |
Second
supplemental agreement for credit facilities hypothecation of stocks and book
debts of the company dated 24.01.2007 increasing the limit of working capital
facilities from existing Rs. 1300
Millions to Rs. 1950 Millions |
|
Date of
instrument Creating the charge |
24.01.2007 |
|
Amount secured by
the charge |
Rs. 1950.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest as may be agreed
between the borrower and the participating banks from time to time [b] Terms of
repayment Repayable on
demand by the bank group and each participating bank [c] Margin minimum of 10% in
respect of goods and 10% in respect of book debts [d] Extent and
operation of the charge As per agreement
made on 24.01.2007 ad notwithstanding anything to the contrary contained in
agreements dated 21.03.2001 and 22.12.2003, the participating banks shall
provide the borrower the facilities for its working capital requirement to the extent of Rs. 1950 Millions [e] others all securities
created by the borrower on the assets as mentioned in the principal agreement
and in the supplemental agreements shall rank pari passu amongst all the
participating banks without creating any preferences or priority in favour of
any participating bank over others and all stipulations/provisions contained
in the said PA shall regulate and govern such extension or creating of
further charge hereunder by the
borrower for the facilities in favour o the participating banks |
|
Short particulars
of the property charged |
Stock of raw material,
stock in process, semi finished and finished goods, stores and spare nor
relating to plant and machinery, bills receivable and book debts including
documents of title to goods other assets such as outstanding moneys,
receivables by way of cash assistance and/or cash, claims including claims by
way of refund of customs/excise duties under the Duty Drawback Scheme or any
other scheme, all other movable assets |
|
Date of latest
modification prior to the present modification |
19.02.2004 |
|
Particulars of
the present modification |
Increasing the
limit of working capital facilities from existing Rs. 1300 Millions to Rs.
1950 Millions |
|
Name of the company |
ALCATEL MODI NETWORK SYSTEMS LIMITED |
|
Presented
By |
BANQUE NATIONALE DE
PARTS AND ALCATEL MODI NETWORK SYSTEMS LIMITED |
|
1) Date and description of instrument creating the change |
Agreement of hypothecation dated 19.12.1996 [Registered on 30.01.1997] |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 250.000
Millions |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
As per RBI
Guidelines |
|
5) Name and Address and description of the person entitled to the
charge. |
BANQUE NATIONALE
DE PARTS 15, Barakhamba Road,
New Delhi, India |
|
6) Date and brief description
of instrument modifying the charge |
Hypothecation
Agreement dated 16.11.1998 |
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
The term loan of
Rs. 250 Millions is secured by hypothecation of movable and immovable
machinery as per schedule of the company
both present and future belonging to the company being and lying in
the company’s premises or godowns of or rented by the company or otherwise
used in connection with the business of the company [but excluding claims
such as claims on Life Insurance Policies, Goodwill, Outstanding, Debts,
Claims for arrears, of rent, benefit of executory contract and share in
partnership as security for the payment to the bank on demand of the balance
due to the bank by the borrower on the term loan account interest at the
medium term prime lending rate of the bank as applicable from time to
time. Other terms and conditions
remain the same. |
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. 49.79 |
|
UK Pound |
1 |
Rs. 73.37 |
|
Euro |
1 |
Rs. 63.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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. |
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 |
|