MIRA
INFORM REPORT
|
Report Date : |
12.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HCL INFOSYSTEMS LIMITED |
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Registered
Office : |
806, Siddharth, 96,
Nehru Place, New Delhi -110 019 |
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Country : |
India |
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Financials (as
on) : |
30.06.2007 |
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Date of
Incorporation : |
17.04.1986 |
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Com. Reg. No.: |
23955 |
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CIN No.: [Company Identification No.] |
L72200DL1986PLC023955 |
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TAN No.: (Tax Deduction
& Collection Account No.) |
DELH03832D |
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Legal Form : |
Public Limited
Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of
Business : |
Manufacturing of
Computer Systems and Computer Peripherals. |
RATING &
COMMENTS
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MIRA’s Rating
: |
Aa |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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Maximum Credit
Limit : |
USD 42260500 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
leading Information Technology Company having satisfactory track. Directors
are reported as experienced, respectable and resourceful professionals. Their
trade relations are fair. Payments are reported as correct and as per commitments.
Information Technology industry and dot.com company has shown downward trend
due to recession in U.S.A. and various other reasons. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered
Office : |
806, Siddharth,
96, Nehru Place, New Delhi-110 019, India |
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Tel. No.: |
91-11-26444305/26464921/262112941/26489078/
26418567-69/26430051 |
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Fax No.: |
91-11-26212687 |
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E-Mail : |
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Website : |
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Corporate
Office : |
E-4, 5 and 6, Sector XI, Noida - 201 301,
Uttar Pradesh |
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Tel. No.: |
91-120-2526490 |
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Fax No.: |
91-120-2525196 |
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E-Mail : |
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Plants : |
CHENNAI WORKS
UNIT - I
299, Arcot Road,
Vadapalani, Chennai-600026, Tamilnadu Tel. No.
91-44-24800156/24843566/24838316 Fax. No.
91-44-24834563 E-mail. pattabi@help.com/veera@help.com UNIT - II
Shed 5, 6,
Tiru-vi-Ka Industrial Estate, Guindy, Chennai-600032, Tamilnadu Tel. No.
91-44-22342815/16/22340165 Fax. No. 91-44-22340161 E-mail. rs@help.com PONDICHERRY WORKS
·
R.S. No.
34/4 to 34/7 and part of 34/1, Sedarpet, Pondicherry – 605111 ·
R.S. No.
105/4-5, Sedarpet, Pondicherry-605111 ·
R.S. No.
107/5,6,7, RS No. 108/10A, RS No : 110/3,
5,11,12 and R.S. No. 108/9 and 12, Sedarpet, Pondicherry – 605 111 ·
Plot No.78,
South Phase, Ambattur Industrial Estate, Chennai-600058 Tel No: 91-44-26258444 / 2625 8292 / 2625 8969 Fax No: 91-44-2624 8160 Email : chnplant@hclp.com ·
Plot
Nos.1,2, 27 and 28, Sector 5, 11E-Pantnagar, Rudrapur, District Udham Singh
Nagar, Uttarakhand – 263 145 ·
299 (Old No.
158), Arcot Road, Vadapalani, Chennai – 605 111, Tamilnadu Tel No: 91-44-52006500 (30 lines) Fax No: 91-44-24834563 Email : corporate@hclp.com
·
Shed S5 and
S6, Tiru-vi-Ka, Industrial Estate, Guindy, Chennai – 600 052, Tamilnadu ·
J. K.
Towers, 100 Feet Road, Pondicherry - 605 013 ·
Spl-A2,
Industrial Estate, Thattanchavadi,
Industrial area, Pondicherry - 605 005 Tel. No. 91-413-2248284 / 2248284 / 2248587 /2248382 / 2249281 Fax. No. 91-413-2249586 E-mail. sridhar@help.com |
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Rack
Distributors : |
· Netfinity Technologies (India) Private Limited Address: 30/55, Spurtank Road, Chetpet, Chennai – 600 031 , India Tel no: 91-44-8278101 Fax No: 91-44-8211764 Email: netfin@eth.net |
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Sales and
Support Centres : |
·
Shed 5, 6,
Tiru-vi-Ka Industrial Estate, Guindy, Chennai-600032, Tamilnadu Tel. No.
91-44-22342815/22342816/22340165 Telefax. No. 91-44-22340161 E-mail. mktg_chn@help.com Mobile. No. 9840139847 ·
306, Tulsani
Chambers, Nariman Point, Mumbai - 400021, Maharashtra Tel. No. 91-22-22815471/22815472 Mobile. No. 9820456196 E-mail. mktg_bom@help.com ·
Building No.
8, Krishna Market, Kalkaji, New Delhi -110019 Tel. No. 91-11-26293957 Mobile. No. 9868150599 E-mail. mktg_del@help.com ·
No. 7, Race
Course Road, Coimbatore - 641018 Tel. No. 91-422-2214933/2200375 Mobile. No. 9843036831 E-mail. mktg_blr@help.com ·
B-10, Indian
Airlines Employees Colony, Begumpet, Secunderabad - 500003, Andhra Pradesh Tel. No. 91-40-27902912 Mobile. No. 9848022078 E-mail. mktg_hyd@help.com ·
306, Tulsani
Chambers, Nariman Point, Mumbai - 400021, Maharashtra Tel. No. 91-22-22815471/22815472 Mobile No. 9820456196 E-mail. mktg_bom@hclp.com ·
Building No.
8, Krishna Market, Kalkaji, New Delhi - 110019 Tel. No. 91-11-26293957 Mobile. No. 9868150599 E-mail. mktg_del@help.com Other sales
offices located at :- Ahmedabad,
Bangalore, Baroda, Bhopal, Chandigarh, Chennai, Cochin, Coimbatore, Guwahati,
Hyderabad, Indore, Jaipur, Kanpur, Kolkata, Kozhikode, Lucknow, Madurai,
Mumbai, Nagpur, Noida, Patna, Pune. Raipur, Ranchi, Thiruvanathapuram,
Trichy, Vijaywada and Vishakapatnam. |
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Branches : |
Located at :- A-10 and 11,
Sector III, Noida, District Ghaziabad - 201 301, Uttar Pradesh, India |
DIRECTORS
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Name : |
Mr. Ajai Chowdhry |
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Designation : |
Chairman and Chief Executive Officer |
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Date of
Birth/Age : |
56 Years |
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Qualification
: |
Graduate in Electronic and Telecommunication Engineering, BE |
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Experience : |
35 Years |
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Date of
Appointment : |
01.03.1989 |
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Previous
Employment : |
Far East Computers Pte Limited |
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Name : |
Mr. Ravi Thumboochetty |
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Designation : |
Whole-time Director cum Chief Operating officer |
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Date of
Birth/Age : |
59 Years |
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Qualification
: |
Engineer from BMS College of Engineering – Bangalore, BE / B. Tech |
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Experience : |
34 Years |
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Date of Appointment
: |
12.09.1980 |
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Name : |
Mr. T. S.
Purushothaman |
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Designation : |
Whole-time Director |
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Date of
Birth/Age : |
65 Years |
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Qualification
: |
Engineering from Trichur Engineering College, Trichur |
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Experience : |
41 Years |
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Name : |
Mr. Rajinder Pal
Khosla |
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Designation : |
Director |
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Date of
Birth/Age : |
74 Years |
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Qualification
: |
Graduate from Emmanuel College, Cambridge (U. K.) |
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Experience : |
40 Years |
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Name : |
Mr. Subroto
Bhattarchaya |
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Designation : |
Director |
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Date of
Birth/Age : |
64 Years |
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Qualification
: |
Chartered Accountants |
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Experience : |
39 Years |
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Name : |
Mr. D. S. Puri |
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Designation : |
Director |
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Date of
Birth/Age : |
55 Years |
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Qualification
: |
Commerce Graduate – Kolkata University |
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Experience : |
32 Years |
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Name : |
Mr. E. A.
Kshirsagar |
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Designation : |
Director |
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Date of
Birth/Age : |
63 Years |
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Qualification
: |
Chartered Accountants |
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Experience : |
37 Years |
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Name : |
Mrs. Anita
Ramachandran |
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Designation : |
Director |
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Date of
Birth/Age : |
49 Years |
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Qualification
: |
Management Graduate from Jamnalal Bajaj Institute |
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Experience : |
25 Years |
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Name : |
Mr. J. V.
Ramamurthy |
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Designation : |
Whole Time Director |
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Date of
Birth/Age : |
53 years |
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Qualification
: |
M.E. |
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Experience : |
27 years |
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Date of
Appointment : |
01.07.1998 |
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Previous
Employment : |
HCL Office Automation Limited, President and CEO |
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Name : |
Mr. Narasimhan Jegadeesh |
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Designation : |
Director |
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Date of Appointment : |
24.01.2006 |
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Name : |
Mr. V N Koura |
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Designation : |
Director |
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Date of Appointment : |
24.01.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil Kumar
Jain |
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Designation : |
Company Secretary |
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Name : |
Mr. T. S.
Purushothaman |
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Designation : |
Chief Operating Officer – India Operations |
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|
Name : |
Mr. Ravi J.
Thumboochetty |
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Designation : |
Chief Operating Officer – International Operations |
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Date of
Birth/Age : |
58 YEARS |
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Qualification
: |
BE, B. Tech |
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Experience : |
33 years |
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Date of
Appointment : |
01.05.1986 |
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Previous
Employment : |
HCL Limited, Regional Manager |
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Name : |
Mr. Sandeep
Kanwar |
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Designation : |
CFO and Executive Vice President |
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Date of
Birth/Age : |
46 years |
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Qualification
: |
F.C.A. |
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Experience : |
24 years |
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Date of
Appointment : |
01.03.1988 |
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Previous
Employment : |
Oriental Carbon and Chemicals Limited, Accounts Officer |
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Name : |
Mr. George Paul |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
46 years |
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Qualification
: |
B. Tech. |
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Experience : |
24 years |
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Date of
Appointment : |
18.07.1983 |
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Previous
Employment : |
Larsen and Toubro |
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Name : |
Mr. Yuvraj
Bahadur |
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Designation : |
Executive Vice President |
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Name : |
Mr. Amanpreet
Singh Bedi |
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Designation : |
Associate Vice President |
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Date of
Birth/Age : |
41 years |
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Qualification
: |
B.E. |
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Experience : |
20 years |
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Date of
Appointment : |
07.07.1986 |
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Name : |
Mr. D Baskar |
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Designation : |
Vice President |
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Date of
Birth/Age : |
44 years |
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Qualification
: |
B.E. |
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Experience : |
22 years |
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Date of
Appointment : |
27.08.1984 |
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Name : |
Mr. Adhikari,
Saurav |
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Designation : |
President |
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Name : |
Mr. Mohan U. V. |
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Designation : |
General Manager |
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Name : |
Mr. Subodh Kumar
Sharma |
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Designation : |
Area Customer Engineer Manager |
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Name : |
Mr. C. D. Murthy |
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Designation : |
Associate Vice President |
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Name : |
Mr. M. P. Singh |
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Designation : |
Deputy General Manager |
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Name : |
Mr. A. K. Jain |
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Designation : |
General Manager |
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Name : |
Mr. Manohar Lal Taneja |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
60 years |
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Qualification
: |
B.E., M.B.A. |
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Experience : |
38 years |
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Date of
Appointment : |
30.05.1986 |
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Previous Employment
: |
IDM |
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Name : |
Mr. Hari Baskaran |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
57 years |
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Qualification
: |
B.E. |
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Experience : |
33 years |
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Date of
Appointment : |
18.08.2003 |
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Previous
Employment : |
Xerox Modi Corporation Limited, Executive Director |
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Name : |
Mr. Padiyal Naresh |
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Designation : |
Vice President |
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Date of
Birth/Age : |
45 years |
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Qualification
: |
B.E. |
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Experience : |
22 years |
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Date of
Appointment : |
27.08.1984 |
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|
Name : |
Mr. Rajeev Asija |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
44 years |
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Qualification
: |
B.E. |
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Experience : |
23 years |
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Date of
Appointment : |
01.05.1986 |
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Previous
Employment : |
HCL Limited, Senior Customer Engineer |
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|
Name : |
Mr. Rakesh Mehta |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
50 years |
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Qualification
: |
I.E.T.E. |
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Experience : |
27 years |
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Date of
Appointment : |
29.12.1988 |
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Previous
Employment : |
ORG Systems, Customer Engineer Specialist |
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|
Name : |
Ms. Suman Ghose Hazra |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
53 years |
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Qualification
: |
B.Com, C.A., ICWA |
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Experience : |
24 years |
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Date of
Appointment : |
15.06.1995 |
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Previous
Employment : |
Network Limited |
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|
Name : |
Mr. Rajendra Kumar |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
49 years |
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Qualification
: |
B.Com |
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Experience : |
31 years |
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Date of
Appointment : |
01.05.1986 |
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Previous
Employment : |
HCL Limited, Deputy Purchase Manager |
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|
Name : |
Mr. Pattabiraman S. |
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Designation : |
Executive Vice President |
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Date of
Birth/Age : |
51 years |
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Qualification
: |
B.Sc., A.C.A. |
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Experience : |
27 years |
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Date of
Appointment : |
01.07.1998 |
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Previous
Employment : |
HCL Peripherals Limited, Senior Manager |
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|
Name : |
Mr. R Mahendran |
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Designation : |
General manager |
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Date of
Birth/Age : |
39 years |
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Qualification
: |
B.Com, Diploma |
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Experience : |
19 years |
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Date of
Appointment : |
01.07.1998 |
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Previous
Employment : |
Network Limited – Territory Manager |
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|
Name : |
Mr. T P Jayaprakashan |
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Designation : |
General manager |
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Date of
Birth/Age : |
40 years |
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Qualification
: |
Diploma (polytechnic) Electronics and Telecommunication |
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Experience : |
20 years |
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Date of
Appointment : |
11.08.1986 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.05.2008
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Shareholding of Promoter and Promoter Group |
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Indian |
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Individuals/ Hindu Undivided Family |
440435 |
0.26 |
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Bodies Corporate |
91434176 |
53.43 |
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Public
Shareholdings |
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Institutions |
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Mutual Funds/ UTI |
6091446 |
3.56 |
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Financial Institutions/ Banks |
4457496 |
2.60 |
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Foreign Institutional Investors |
55694771 |
32.55 |
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Non Institutions |
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Bodies Corporate |
929965 |
0.54 |
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Individuals shareholders holdings nominal
share capital up to Rs. 0.100 Millions |
10937294 |
6.39 |
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Individual Shreholders holding nominal
share capital in excess of Rs. 0.100 Million |
612.292 |
0.36 |
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NRI |
447851 |
0.26 |
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OCB |
72000 |
0.04 |
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Total |
171117726 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Computer Systems and Computer Peripherals. |
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Products : |
Networking
Products ·
Hubs ·
Switches ·
Access Products ·
Modules/converters Terminal
Products ·
Turboterm ·
Graph Term ·
Multilingual Terminal Structured
Cabling ·
Patch Cord ·
Patch Panel ·
Wall Outlet Peripherals ·
Monitor ·
Keyboards ·
Multi Media ·
Touch Screen Monitor/Kiosks Generic Names of
Three Principal Products/Services of Company (As per monetary terms) are :
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Exports : |
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Countries: |
ASEAN, Europe, Japan and USA |
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Imports : |
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Countries: |
ASEAN, Europe, Japan and USA |
PRODUCTION STATUS
The company’s
production Status for the year ended 30th June 2007 was as under: -
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Class of Goods |
Units |
Installed
Capacity |
Actual
Production |
|
Computers/Micro Processor Based Systems |
Nos. |
1400000 |
619216 |
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Data Graphic/Display Monitor/Terminals, Hubs, etc |
Nos. |
450000 |
512717 |
GENERAL
INFORMATION
|
Suppliers : |
· Shakhti Data Cables · Bajaj Printer and Packers |
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No. of
Employees : |
7000 |
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Bankers : |
Ø State Bank of India, New Delhi Ø Canara Bank Ø Bank of Baroda, New Delhi Ø UCO Bank, New Delhi Ø Canara Bank, New Delhi Ø State Bank of Patiala, New Delhi Ø Indian Bank, New Delhi Ø State Bank of Saurashtra, New Delhi Ø Standard Chartered Bank, New Delhi Ø Societe Generale, New Delhi Ø ICICI Bank Limited, New Delhi Ø HDFC Bank Limited, New Delhi |
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Facilities : |
Notes:- 1) Cash Credits along
with non-fund based facilities from Banks (External Commercial Borrowings)
are secured by way of hypothecation of stock-in-trade, book debts as first
charge and by way of second charge on all the immovable and movable assets of
the Company. The charge ranks pari-passu amongst Bankers, 2) Term loan
from a Bank is secured by way of hypothecation of all movable current assets.
The charge ranks pari-passu with Company's bankers.
Notes:- 1) Amount
payable within one year is Rs.2014.700 millions (2006 - Rs.1510.400
millions). 2) Public
Deposits represent matured deposits. |
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Banking Relations : |
Good |
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Auditors : |
Price Waterhouse Chartered Accountants |
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Address : |
New Delhi |
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Associates : |
·
HCL
Technologies (Mumbai) Limited ·
HCL Global
Alliance Limited ·
HCL
Peripherals Limited ·
HCL Perot
Systems Limited ·
OWNHCL Trust ·
Shri Sivasubramaniya Nadar Educational and Charitable
Trust |
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Subsidiaries : |
· HCL Infinet Limited (formerly-HCL Commerce Limited) · Infosystems Australia Pty Limited · FEC Infosystems Pte Limited, Singapore · FEC Distribution Pte Limited · Far East Computers (M) Sdn. Bhd, Malaysia · HCL Infosystems (Malaysia) Sdn. Bhd · Far East Computers Marketing (M) Sdn. Bhd · Infosystems (Bermuda) Limited · Infosystems (Europe) Limited · Infosystems (America) Inc. · HCL Corporation Limited · Microcomp Limited · HCL Comnet Limited · HCL Technologies BPO Services Limited · DSL Software Limited · Shipara Technologies Limited · HCL Technologies (Malaysia) Sdn Bhd · HCL Singapore Pte Limited · HCL Infosolutions Limited · HCL Comnet Systems and Services Limited · Universal Office Automation Limited ( formerly Known as HCL Office Automation Limited) · Stelmac Engineering Private Limited |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
550000000 |
Equity Shares
of |
Rs. 2/- each |
Rs. 1100.000 millions |
|
500000 |
Preference
Shares of |
Rs. 100/- each |
Rs. 50.000 millions |
|
|
TOTAL |
|
Rs.
1150.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
169152650 |
Equity Shares |
Rs. 2/- each |
Rs. 338.305 millions |
|
|
TOTAL |
|
Rs. 338.305 millions |
Notes:-
1. Pursuant to the
Scheme of Arrangement approved by Hon'ble Delhi High Court the authorised
equity share capital of the Company stands increased by Rs. 300 millions being part
of the authorised equity share capital of HCL Infinet Limited., the erstwhile
wholly owned subsidiary which was amalgamated with the Company.
2 Paid up share
capital includes:
a) 50447295 (2006
- 50447295) Equity Shares of Rs.2/- each issued pursuant to contract without
payment being received in cash.
b) 53182765 (2006
- 53182765) Equity Shares of Rs.2/- each Bonus shares issued from Securities
Premium Account.
c) 9605355 (2006 -
9181960) Equity Shares of Rs.2/- each issued pursuant to the exercise of
options granted under ESOP Scheme 2000.
3 Of the above
subscribed shares, 74651388 (2006 - 74651388) Equity Shares of Rs.2/- each are
held by HCL Corporation Limited.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.06.2007 |
30.06.2006 |
30.06.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
338.300 |
337.500 |
334.400 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
8113.800 |
3775.900 |
4019.100 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
8452.100 |
4113.400 |
4353.500 |
|
|
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
120.200 |
444.900 |
557.500 |
|
|
2] Unsecured Loans |
2238.700 |
1511.500 |
261.000 |
|
TOTAL BORROWING
|
2358.900 |
1956.400 |
818.500 |
|
|
DEFERRED TAX
LIABILITIES |
124.800 |
115.400 |
68.100 |
|
|
|
|
|
|
|
TOTAL
|
10935.800 |
6185.200 |
5240.100 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
984.800 |
633.200 |
523.800 |
|
Capital work-in-progress
|
213.600 |
163.800 |
9.100 |
|
|
|
|
|
|
|
INVESTMENT
|
2797.800 |
1353.900 |
1227.700 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
7917.300
|
2403.100
|
1881.000
|
|
|
Sundry Debtors
|
10025.100
|
5112.600
|
3699.200
|
|
|
Cash & Bank Balances
|
1939.400
|
1452.900
|
1463.200
|
|
|
Other Current Assets
|
959.400
|
749.700
|
794.200
|
|
|
Loans & Advances
|
677.200
|
378.700
|
320.800
|
Total Current Assets
|
21518.400
|
10097.000
|
8158.400 |
|
Less : CURRENT
LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
13767.800
|
5566.600
|
4172.200
|
|
|
Provisions
|
811.000
|
496.100
|
506.700
|
Total Current Liabilities
|
14578.800
|
6062.700
|
4678.900 |
|
Net Current Assets
|
6939.600
|
4034.300
|
3479.500 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
10935.800 |
6185.200 |
5240.100 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
30.06.2007 |
30.06.2006 |
30.06.2005 |
|
|
Sales Turnover |
116481.200 |
22947.000 |
19316.600 |
|
|
Other Income |
487.300 |
170.100 |
322.500 |
|
|
Total Income |
116968.500 |
23117.100 |
19639.100 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
4299.900 |
1315.200 |
1488.700 |
|
|
Provision for Taxation |
1121.400 |
(183.000) |
161.000 |
|
|
Profit/(Loss) After Tax |
3178.500 |
1332.200 |
1327.700 |
|
|
|
|
|
|
|
|
Earnings in
Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
816.500 |
627.800 |
331.700 |
|
|
Commission Earnings |
1.200 |
1.300 |
6.400 |
|
|
Other Earnings |
51.400 |
156.900 |
132.000 |
|
Total Earnings |
869.100 |
786.000 |
470.100 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
10320.500 |
9840.400 |
7513.800 |
|
|
Stores & Spares |
458.900 |
26.700 |
31.600 |
|
|
Capital Goods |
20.700 |
6.600 |
13.200 |
|
|
Others |
7666.900 |
3147.300 |
1717.700 |
|
Total Imports |
18467.000 |
13021.000 |
9276.300 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Sales and Services |
107818.000 |
19191.100 |
15981.700 |
|
|
Personnel |
2177.300 |
1272.200 |
0.000 |
|
|
Administration, Selling, Distribution and others |
2345.100 |
1185.300 |
1009.100 |
|
|
Repair and Maintenance |
97.200 |
40.100 |
0.000 |
|
|
Finance Charges |
105.500 |
45.700 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
0.000 |
1272.200 |
1044.900 |
|
|
Finance Charges |
0.000 |
45.700 |
9.600 |
|
|
Depreciation & Amortization |
125.500 |
67.500 |
65.000 |
|
|
Other Expenditure |
0.000 |
40.100 |
40.100 |
|
Total
Expenditure |
112668.600 |
21801.900 |
18150.400 |
|
QUARTERLY RESULTS
|
Year |
30.09.2007 |
30.12.2007 |
31.03.2008 |
30.06.2008 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Sales Turnover |
30838.300 |
32603.600 |
29743.600 |
31063.900 |
|
Other Income |
175.200 |
176.100 |
52.200 |
45.900 |
|
Total Income |
31013.500 |
32779.700 |
29795.800 |
31109.800 |
|
Total Expenditure |
29829.200 |
31465.900 |
28501.900 |
29996.000 |
|
Operating Profit |
1184.300 |
1313.800 |
1293.900 |
1113.800 |
|
Interest |
77.400 |
102.300 |
106.400 |
111.500 |
|
Gross Profit |
1106.900 |
1211.500 |
1187.500 |
1002.300 |
|
Depreciation |
37.800 |
38.900 |
43.900 |
42.900 |
|
Tax |
331.100 |
349.200 |
319.800 |
344.300 |
|
Reported PAT |
734.900 |
831.900 |
823.800 |
656.900 |
KEY RATIOS
|
Year |
30.06.2007 |
30.06.2006 |
30.06.2005 |
|
Debt-Equity Ratio |
0.35 |
0.33 |
0.19 |
|
Long Term Debt-Equity Ratio |
0.04 |
0.01 |
0.06 |
|
Current Ratio |
1.25 |
1.32 |
1.36 |
|
TURNOVER
RATIOS |
|||
|
Fixed Assets |
88.35 |
23.77 |
19.84 |
|
Inventory |
22.90 |
11.12 |
11.28 |
|
Debtors |
15.61 |
5.40 |
5.93 |
|
Interest Cover Ratio |
15.29 |
7.23 |
11.69 |
|
Operating Profit Margin(%) |
4.00 |
6.69 |
8.59 |
|
Profit Before Interest And Tax Margin(%) |
3.89 |
6.41 |
8.26 |
|
Cash Profit Margin(%) |
2.80 |
5.04 |
7.07 |
|
Adjusted Net Profit Margin(%) |
2.69 |
4.75 |
6.74 |
|
Return On Capital Employed(%) |
54.70 |
27.30 |
33.19 |
|
Return On Net Worth(%) |
50.83 |
26.93 |
32.08 |
LOCAL AGENCY FURTHER
INFORMATION
History
Subject was
incorporated on 17th April 1986 in New Delhi having Company
Registration Number 23955.
Subject was
previously known as HCL Hewlett-Packard and was promoted by a group of technocrats.
In May 1986, the company took over Hindustan Computers, Hindustan
Reprographics, Hindustan Instruments and Indian Computer Software Company.
In 1991, the
company entered into a joint venture with Hewlett-Packard Company, USA, for
combining the computer manufacturing, marketing and servicing activities of the
company and Hewlett Packard India Private Limited.
Subject has been
accredited with ISO 9001 certification for its manufacturing processes and it
has also received SEI CMM Level IV accreditation for its software development
processes. It has recently been awarded the MAIT Level II recognition for
business excellence.
The
company manufactures computer systems at Noida, Uttar Pradesh and computer
peripherals at Chennai. It also manufactures multi-user super-minis and
engineering workstations, the technology for which is being provided by
Hewlett-Packard Company, USA. It came out with a rights issue in November, 1992
to meet the cost of setting up a test and repair centre; acquire the computer
division from Hewlett-Packard India Private Limited and to modernise the
computer manufacturing facilities.
In
1997-98, the company acquired the business of HCL Infosolutions, subject, and
the customer support activities of HCL office Automation Limited. In 1998-99,
it entered into a relationship with Samsung, Korea to market and supports their
range of key telephone systems. It also tied up with Novell to become the
largest Novell authorised support centre.
In 1999-2000,
the most significant development has been the formation of its internet
subsidiary, HCL Infinet a value added B2B and B2C internet services
provider.
The company had received SEI CMM Level IV accreditation for its software
development processes and the ISO 9001 certification for its manufacturing
processes. It has recently been awarded the MAIT Level II recognition for
business excellence.
The
company also expanded its distribution network to become the largest hardware
vendor with more than 75 distributors in 42 point of purchase (POP)/locations
and more than 1000 sales outlets. The company also expanded its operations
internationally, launching operations in Bangladesh in September 2000.
During
the year 2000-2001, the company bagged a major networking order from Indian
Overseas Bank involving implementation of Wide Area Network in 11 cities
covering 200 branches.
The company has won the MAIT award for Excellence in Exports-Technical Services
for the year 2001-02.
The company has tied-up with Pitney Bowes, a Fortune 500 company and global
provider of integrated mail messaging and document management solutions, to
provide world class mass mailing solutions.
The
company being a premier house for hi-tech support in the filed of information
technology had understandably transformed into a 'home name' for corporate
servicing a large clientele in the country.
The alliance with Sun Microsystems India Private Limited forged during 2002, to
distribute the complete line of Sun Enterprises Products, would surely enhances
the spectrum of services provided by the company to the customer.
Subject is one of
the pioneers in the Indian IT market , with its origins in 1976. For over
quarter of a century, they have developed and implemented solutions for
multiple market segments, across a range of technologies in India. They have
been in the forefront in introducing new technologies and solutions. The
highlights of the HCL saga are summarised below:
Business
Subject is engaged
in manufacturing of computer systems and computer peripherals. It also manufactures multi-user super-minis
and engineering workstations, the technology for which is being provided by
Hewlett-Packard Company, USA. It came out with a rights issue in November 1992
to meet the cost of setting up a test and repair centre; acquire the computer
division from Hewlett-Packard India Private Limited; and to modernise the
computer manufacturing facilities.
It exports SUN,
ENC, PCs, Motherboards, Hardware Designs, Softwares and Consultancy Services to
ASEAN, Europe, Japan and USA.
It imports Desktop
Computer System, Keyboard X86 Servers, Moniter, Networking Hubs and Switches,
Network Passive Components, KIOSK, Thin Client, Chips, IC’s, Assemblies and
Softwares from ASEAN, Europe, Japan and USA.
The Company Profile:
Subject was founded
in the year 1983 has established itself as a leading manufacturer of computer
peripherals in India. Subject is a group company of HCL Infosystems Limited
(turnover Rs. 43000 millions), the No. 1 hardware manufacture in India. With a
humble turnover of Rs. 20.000 millions in the year of inception nearly 2
decades ago, today subject has established itself as a leading manufacturer of
computer peripherals in India and is poised to touch the rupees five thousand
millions mark by the year 2002.
Subject being a
premier house for hi-tech support in the field of information technology has
understandably transformed into a ‘home name’ for corporate, servicing a large
clientele in the country.
With such a profile
one more attempt to gear up and aggrandise the silhouette of service and
success, is made by the launch of a product line of a wide range of modular
enclosures and accessories for networking and communication devices under the
banner of subject (A unit of HCL Infosystems Limited).
Directors’ Report:
Scheme of
Arrangement
During the year, a
composite Scheme of Arrangement u/s 391/394 of the Companies Act 1956, (the
Scheme) for demerger of the Networking business of HCL Infinet Limited, the
wholly owned subsidiary, into Micro comp Limited and amalgamation of HCL
Infinet Limited, with its residual Telecommunication and Office Automation
business with the Company was approved by the Hon'ble High Court of Delhi vide
its order dated March 20, 2007, which came into effect from closing business
hours on March 31, 2007 from the appointed date i.e. April 1, 2006.
Accordingly, the
results of the Company on standalone basis (in Parent Company) for the year ended
June 30, 2007 includes the results of Telecommunication and Office Automation
business, for the 15 months period from April 1, 2006 to June 30, 2007 and are
not comparable with those of the previous year. Please also refer to 'Note 24'
on Scheme of Arrangement given in Notes to Accounts in this report.
Performance
The consolidated
net revenue of the Company was Rs. 117357.800 millions as against Rs.
114021.600 millions in the previous year. The consolidated profit before tax
was Rs. 4287.100 millions as against Rs. 3852.600 millions in the previous
year. The Directors are pleased to recommend final Dividend @ 100% on the fully
paid-up equity shares of Rs.2/- each for the financial year ended on 30th June,
2007. During the first nine months, three interim (quarterly) dividends of 100%
each were declared taking the total dividend for the year 2006-07 to 400%.
Quality
Initiatives
During the year,
there have been several achievements on the quality initiatives front. Subject
fared very well in customer satisfaction surveys as it scored high on factors
like customer orientation, product quality, sales and marketing, product
pricing and commercials, delivery and order fulfillment and prompt after sales
service and support at critical times etc. The survey also highlighted that
subject is strongly associated with "Comprehensive end to end service
offerings as per ICT needs" and "The company that values customer's
time". Also subject has emerged as the top vendor on all the parameters for
vendor selection of hardware supply and hardware support services.
In terms of brand
disposition vis-a-vis the competitors, subject emerged as the strongest brand.
Puducherry Manufacturing Organisation facilities recertified for QMS - ISO
9001-2000 and EMS - ISO 14001-2004. Uttarakhand Manufacturing Organisation
facilities certified for QMS - ISO 9001-2000 and EMS - ISO 14001-2004.
Awards
During the year
subject was awarded 'IMM Top
Organization Award 2007' for excellence by Institute of Marketing and
Management;
'India's Most Preferred Personal Computer Brand' by CNBC Awaaz
Consumer Awards; 'Amity Corporate
Excellence Award
2007' for its distinct vision, innovation, competitiveness and sustenance by
Amity Business School, 'Channels Choice
Award 2007' for Relationship Management and After Sales Support by IDC DQ Channels
based on the IDC channel satisfaction survey. Subject featured amongst the 'Top 3 IT Hardware Companies' in
India's 100 Most Valuable Brands by Planman Consulting and ICMR Research, 'Brand of Excellence Award' in the
VARIndia IT Forum - 2007, Top 3 Most
Asia Pacific
2006', Top 50 Fastest Growing Technology Companies in India 2006' by Deloitte and
louche; Top Performance
In The Computer
Hardware and Peripherals Sector' by Dun and Bradstreet Awards 2006.
Employee Stock
Option Plan
The company has
pioneered a number of initiatives in environment management which include:
• Being the first
company in India to have ISO 14001 compliance.
• First company in
India to have a comprehensive policy on WEEE (Waste of Electrical and Electronic
Equipment) for end-of-life. Products to be recovered and recycled in an
environment friendly manner. To dispose/recyclee-waste generated either at the
company facilities or at the customer end, the company has tied up with
government authorized recyclers for e-waste recovery and recycling in an
environmentally safe manner.
• First company in
India to launch RoHS compliant laptops. Subject Laptops are RoHS compliant and the
company will shortly be announcing the company range of desktops that are fully
RoHS compliant.
• The company is
actively encouraging its suppliers to restrict other hazardous chemicals such
as PVC and BFR and is closely following up technological developments in this
area.
• HCL's "Best
Assured" campaign is targeted against the counterfeit industry and
import of secondhand components that is adding to India's e-waste problems.
• The company has
a well defined customer awareness program through which users are
informed/updated about the various environment management processes.
Particulars of
subsidiaries
On the Scheme of
Arrangement becoming effective, Microcomp Limited and Stelmac Engineering
Private Limited (the wholly owned subsidiaries of the erstwhile HCL Infinet
Limited) have become wholly owned subsidiaries of the Company.
The name of the
Microcomp Limited has been changed to HCL Infinet Limited. A Scheme of
Amalgamation of Stelmac Engineering Private Limited, the wholly owned
subsidiary, with the Company has been filed u/s 391-394 of the Companies Act,
1956 with Hon'ble Delhi High Court. As directed by the Hon'ble Court, the Court
convened meetings of secured and unsecured creditors of the Company to approve
the Scheme shall be held on September 22, 2007. The Scheme on its sanction by
creditors, the Hon'ble High Court and after other necessary approvals shall be
effective from April 1, 2007.
The Company has
obtained permission from the Ministry of Company Affairs, Government of India,
vide their letter No. 47/196/2007-CL-lll dated May 11, 2007 for not annexing
the accounts of HCL Infinet Limited and Stelmac Engineering Private Limited,
the wholly owned subsidiaries of the Company.
The detailed
annual accounts of the subsidiaries of the Company are available on any working
day at the Registered Office of the Company to the shareholders of the Company
requiring such information.
Overview
India is likely to
see strong domestic growth in the years to come. Large investments are planned
across various sectors by private players, PSUs and Government.
Business Outlook
IT investments in
India are expected to grow at 19% CAGR, as per IDC, which is amongst the
highest rates of growth in the world. As per the National E-Governance Plan (NEGP),
investments of Rs. 230000.000 millions are planned for next five years, for
identified core projects. Technology trends point to increasing convergence, so
that different devices can be networked/managed, with a computer at the heart
of every ICT solution. Reforms in Power sector are focusing on Substation
Automation and Management of both Demand and Supply sides. India is becoming a
hub for creativity and animation, with increased set up of Media and
Entertainment stations across the country. There is Digitization in all aspects
encompassing content creation, broadcasting etc. Broadband Penetration, Roll
Out and Value Added Services are seeing more accelerated growth. Infrastructure
investments in the country are planned in several areas, e.g. modernization of
Airports with the latest ICT equipments being deployed for Security and
Vigilance, Baggage Clearance, Flight arrival and Departure Systems, Passenger
and Luggage Check in systems.
The Ministry of
Railways has formally announced the plans for technology upgradation in
Railways in areas like Passenger Information System, Automatic Train Controls,
and Signaling etc.
Today, IT is
playing a much larger role across the industry for e.g. the BFSI Institutions,
are using IT not only to understand their customer's needs and service them
better, but also to automate operations and strengthen systems. Initial steps
have also been taken in the field of Health in terms of Digital Records
creation, Hospital Information systems, Picture archival and control systems
and tele medicine.
With consumers
enjoying higher purchasing power and lifestyle preferences, these investments
are creating opportunities for Technology Equipments, Digital Lifestyle
products and System Integration.
The HCL of Today
This August saw
subject completing three decades of leadership in the Indian IT Market by
setting new benchmarks and creating newer markets.
Subject is today
an organization that offers the full spectrum of Information Technology, Office
Automation and Communication technology (ICT) products and services to its
customers. Subject has been consistently ranked as a market leader in India for
various product categories both its own and those of its partners. The company
over the last three decades has built the country's largest multi-technology
ICT Products and Services Network with a direct presence in over 360 locations
across the country and an equally strong franchisee service network. Further
subject is today India's largest vertically integrated ICT manufacturing house
with its state-of the-art manufacturing facilities at Rudrapur, Chennai and
Puducherry. The Company intends to leverage its core ICT competency, sales and
support reach and existing account relationships to harness new opportunities
in India. The Company is a leading System Integrator in Telecom, E-Governance,
BFSI and Power verticals. The company has also identified new verticals for SI
focus, namely Media and Entertainment, Retail, Health, Airports/Ports and
Railways.
Therefore to
address the growing opportunities in India and to derive more value from the
assets of the company, subject has created a new blueprint for its growth in
the coming years. This is clearly articulated and represented below.
Evolving with the
changing nature of ICT products and the emergence of digital lifestyle products
as a new market over the last decade, subject has built India's largest
distribution and retail chain for such products. On a network of 40
subject Digilife stores, over 3000
franchisees and more than 50,000 retail outlets in more than 5000 towns and
cities of India, subject is by far the largest value added distribution network
in partnership with leading brands such as Apple, Casio, Kodak, Toshiba, Nokia,
Microsoft, Konica Minolta among others. subject Digilife stores, a new concept
in their country, are a one-stop window for ICT consumers to experience a
comprehensive range of digital lifestyle products, including Notebooks, PC's,
digital cameras, MP3 Players, mobile phones, LCD's, Plasma TV's and related accessories.
Subject has built strong internal training systems and created Hardware,
Software and Networking professionals over the years.
This year also
marked subject foray into ICT Education and Training with the launch of subject
Career Development Centers across India. With the objective of meeting the
increasing demand for skilled professionals, subject CDCs impart students real
world practical training on enterprisewide ICT deployment and integration
assignments to transform them into industry-ready professionals. Subject CDCs
offer specially designed courses in high-end infrastructure hardware,
middleware and networking integration.
Trade Terms
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Nithya
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Fixed Assets
· Land
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· Plant and machinery
· Air conditioners
· Furniture and Fixtures
· Office equipments
· Vehicles
As Per Website
Details
The Company founded
in the year 1983 has established itself as a leading manufacturer of computer
peripherals in India. The Company is a Group company of HCL Corporation
(turnover Rs. 43000.000 millions), the leading giant in IT industry in India.
The Research and
Development department at The Company equipped with the latest Design tools for
product designing. A full fledged EMI lab has been set up with a complete set
of EMI/EMC test equipments, KeyTek surge/EFT generators and Schaffner ESD Gun
for Pre compliance testing.
This department is
represented by a group of highly motivated engineers, who have not only
customised products to suit Indian conditions but have also been responsible
for new products development.murugan.
The Company is
fully equipped with the state-of-the art manufacturing CNC Machines such as MURATA
turret punch presses, KOMATSU NC press brake, MURATEC CNC press brake and CAD/
CAM systems supported by AUTODESK. These facilities enable the manufacture of
precision products as per customer's requirement. The latest production
facilities include SEHO wave soldering machine, MINOITA colour analyser, YORCO
baking chamber and a host of other renowned equipments. This ensures that only
the best quality products come out of the Company.
The latest
production facilities include SEHO wave soldering machine, MINOITA colour
analyser, YORCO baking chamber and a host of other renowned equipments. This
ensures that only the best quality products come out of the company.
Milestone
Year Highlights
1976
1976 - Foundation of the Company laid
- Introduces
microcomputer-based programmable calculators with wide
acceptance in the scientific / education community
1977
1977 - Launch of the first
microcomputer-based commercial
computer with a ROM -based
Basic interpreter
- Unavailability of programming
skills with customers results in HCL developing
bespoke applications for their
customers
1978 - Initiation of application
development in diverse segments such as textiles,
sugar, paper, cement ,
transport
1980 - Formation of Far East
Computers Limited., a pioneer in the Singapore IT market,
for
SI (System Integration) solutions
1981
1981 - Software Export Division
formed at Chennai to support the
bespoke
plication development needs of Singapore
-
HCL launches an
aggressive advertisement campaign with the
theme ' even a typist can operate' to make the usage of computers popular in the SME (Small and
Medium Enterprises) segment. This proposition involved menu-based
application for the first time, to
increase ease of operations. The response
to the advertisement was phenomenal.
1983 - HCL develops special program
generators to speed up the development of applications
- Bank trade unions allow computerisation in banks. However, a computer
can only run one application such as Saving Bank Current account, Loans etc.
1985
- HCL sets up core team to develop the
required software - ALPM ( Advanced
Ledger Posting Machines ) . The team uses reusable code to reduce development
efforts and produce more reliable code . ALPM becomes the largest selling
software product in Indian banks
-HCL designs and launches Unix- based computers and IBM PC clones
- HCL promotes 3rd party
PC applications nationally Zonal offices of banks and
general insurance companies
adopt computerization
1986 - Purchase
specifications demand the availability of RDBMS products on the
supplied solution (Unify, Oracle). HCL arranges for such products to be
ported
to
its platform.
- HCL assists customers to
migrate from flat-file based systems to RDBMS
-HCL enters into a joint
venture with Hewlett Packard
- HP assists HCL
to introduce new services: Systems Integration, IT consulting,
packaged support services (
basicline, teamline )
1991 - HCL establishes a Response
Centre for HP products, which is
connected to the HP Response Centre in Singapore.
- There is a vertical segment
focus on Telecom, Manufacturing and
Financial Services
- HCL acquires and
executes the first offshore project from IBM
Thailand
1994 -
HCL sets up core group to define software development methodologies
-Starts execution of
Information System Planning projects
1995 -Execution projects
for Germany and Australia
- Begins Help desk
services
1996 - Sets up the STP ( Software Technology
Park ) at Chennai to execute software
projects for international customers
- Becomes national
integration partner for SAP
-Kolkata and Noida STPs
set up
1997 - HCL buys back HP
stake in HCL Hewlett Packard
1998 - Chennai and Coimbatore
development facilities get ISO 9001 certification
- Acquires and sets up
fully owned subsidiaries in USA and UK
1999 - Sets up fully owned
subsidiary in Australia
- HCL ties up with
Broadvision as an integration partner
2000
-Sets up fully owned
subsidiary in Australia
- Chennai and
Coimbatore development facilities get SEI Level 4 certification
- Bags Award for
Top PC Vendor In India
2000 - Becomes the 1st IT
Company to be recommended for latest version of ISO 9001
:
2000
- Bags MAIT's
Award for Business Excellence
- Rated as No. 1
IT Group in India
2001
-Launched Pentium IV PCs
at below Rs 40,000
2001 -IDC rated HCL
Infosystems as No. 1 Desktop PC Company of 2001
-Declared as Top PC
Vendor by Dataquest
-HCL Infosystems
and Sun Microsystems enters into a Enterprise
Distribution
Agreement
2002 - Realigns
businesses, increasing focus on domestic IT, Communications and
Imaging products, solutions and related services
2003
- Became the first
vendor to register sales of 50,000 PCs in a
quarter
- First Indian
company to be numero uno in the commercial PC market
-Enters into
partnership with AMD
-Launched Home PC
for Rs 19,999
2003 - HCL Infosystems'
Info Structure Services Division received ISO
9001:2000 certification
-Launches Infiniti
Mobile Desktps on Intel Platform
- Launched
Infiniti PCs, Workstations and Servers on AMD
platform
Press Release
HCL DIGILIFE CHAIN BECOMES THE MOST AWARDED RETAIL CHAIN IN
2007-08
• HCL Digilife offers consumers
a complete digital lifestyle experience by offering products from world
renowned brands like Apple, Casio, Kodak, Toshiba, Kingston, Plantronics HCL
etc
• Wins six prestigious retail awards
from renowned retail industry bodies within a year of launch
• HCL plans to take no. of stores from
68 to upto 100 over next six months focusing equally on metros, state capitals
and tier II cities
New Delhi, 10 June, 2008
Subject India's premier information
enabler and country's leading ICT system integrator and Distribution Company
proudly announces its retail initiative HCL Digilife
Stores as the youngest and most
awarded retail chain for the year 2007-08, having won as many as six MOST
coveted and prestigious awards of the retail industry, within a year of
existence. The awards won by HCL chain of Digilife stores include the Retailer of the Year Award - Consumer Durables from Asia Retail Congress, Best in Retail category– Speciality from Franchise India Holdings, Most Admired Retailer of the Year – Consumer Durables from India Retail Forum, Most Supportive Franchisor from Franchise Plus, Most Innovative Franchisor from Franchise Plus, and No. 1 IT retail Company from VAR India.
HCL Digilife stores houses a comprehensive range of digital lifestyle and
entertainment products ranging from PCs and notebooks, digital cameras and
music players, mobile phones, gaming consoles and office automation devices
from world renowned brands like, Apple, Nokia, Toshiba, Kodak, Kingston,
plantronics, Casio, HCL etc with the assurance of HCLs Best Assured service and
support. Bringing alive a true convergence era, HCL Digilife stores are more
than just retailing, they are about offering a unique shopping ambience to
customers through the experience zones - Home Zone and Gaming Zone, that allows
a customer to actually touch, feel and experience the product before purchase.
The Home Zone, enables a customer to get a feel of how easy is technology to use
and how it leads to a comfortable and efficient lifestyle. It also demonstrates
that the products which they use in daily lives can talk to each other via a
computing device - PC or a Laptop – and can make life simpler yet high tech.
The Gaming Zone on the other hand, provides the ultimate gaming experience to
gaming enthusiasts, through a live demo PC or a console using various
accessories and add-ons to provide them with an amazing chance to experience,
the best in the gaming world.
Mr. Rajendra Kumar, Executive Vice President HCL Infosystems
Limited, said: “Receiving an array of
prestigious awards for the retail initiative within a year of its launch is a
validation of the success of HCL’s Digilife Chain. The extensive nationwide
retail presence is a proof of the commitment to closely engage with the
customers to be able to understand and meet their technology needs. They are
commitment to providing the consumers a complete digital lifestyle experience
though HCL Digilife stores which uniquely showcase true digital convergence and
have thus emerged as India’s preferred one-stop stores for digital lifestyle
products.”
HCL DIGILIFE BRINGS ALIVE A TRUE DIGITAL EXPERIENC
• Computers, software, networks, accessories and components: Includes PCs from Toshiba, PDAs, software, storage
systems, printers, wireless communication accessories, sound and graphic cards
• Digital audio and video: Digital Music players from Apple, Home Theatres,
high-performance audio and video devices
• Digital photo and imaging: Digital cameras from Kodak, scanners, imaging software
• Digital mobile solutions: Includes Nokia cellphones, web services, etc.
• Digital gaming and entertainment: Includes gaming consoles from X-Box, leading computer
games
• Digital infotainment: Broadband solutions, DTH services, HDTV, Internet and internet
telephony, entertainment solutions etc.
“They pioneered the concept of offering complete panorama of digital lifestyle
products under one roof with the launch of first HCL Digilife store about a 18
months back, and today have been able to ramp up the number to as many as 68
Digilife stores thanks to the astounding response from the consumers.” he
added.
With an aim to make the most compelling digital products and services more
accessible to Indian consumers across the country, HCL will be looking at
establishing close to 100 HCL Digilife stores, over next six months, equally
focusing on metros, state capitals. The primary expansion model will that be of
franchising, while HCL has over 6 of its own stores to provide a benchmark for
franchisee outlets nationwide. Each such retail would approximately be spread
over an area of 750-1200 square feet.
About HCL Infosystems
HCL Infosystems Ltd, with revenue (LTM) of US $ 3.1 billion (Rs. 12,558 Crores)
is India's premier information enabling and ICT System Integration company
offering a wide spectrum of ICT products that includes Computing, Storage,
Networking, Security, Telecom, Imaging and Retail. HCL is a one-stop-shop for
all the ICT requirements of an organization. India's leading System Integration
and Infrastructure Management Services Organization, HCL has specialized
expertise across verticals including Telecom, BFSI, E-Governance and Power. HCL
has India's largest distribution and retail network, taking to market a range
of Digital Lifestyle products in partnership with leading global ICT brands,
including Apple, Cisco, Ericsson, Kingston, Kodak, Konica Minolta, Microsoft,
Nokia, Toshiba, and many more. HCL today has India's largest vertically integrated
computer manufacturing facility with over three decades of electronic
manufacturing experience and HCL desktops is the largest selling brand into the
enterprise space. With India’s largest ICT services network that reaches to
every corner of India, HCL’s award winning Support Services makes it the
preferred choice of enterprise and consumers alike. For more information please
visit us at www.hclinfosystems.in
About HCL Enterprise
HCL Enterprise is a US $ 4.9 billion (Rs. 19,641 crores) leading Global
Technology and IT enterprise that comprises two companies listed in India - HCL
Technologies and HCL Infosystems. The 3-decade-old enterprise, founded in 1976,
is one of India's original IT garage start-ups. Its range of offerings spans
Product Engineering, Custom and Package Applications, BPO, IT Infrastructure
Services, IT Hardware, Systems Integration, and distribution of ICT products.
The HCL team comprises approximately 55,700 professionals of diverse
nationalities, who operate from 18 countries including 360 points of presence
in India. HCL has global partnerships with several leading Fortune 1000 firms,
including leading IT and Technology firms.
INVESTORS
> Financial Press Release (CURRENT)> General Press Release
Subject reported quarterly consolidated revenue of Rs.
31550.000 millions (USD 788.5 Mn), taking the consolidated revenue for the year
to Rs. 126050.000 millions (USD 3149.7 Mn).
Profit Before Tax reported for the quarter at Rs. 960.000 millions (USD 23.9
Mn), taking the PBT for the year to Rs. 4300.000 millions (USD 107.5 Mn)
Board of Directors has recommended a final dividend of 100% per fully paid up
share, taking the total dividend for the year 2007-08 to 400%.
Momentum in System Integration continues. SI a growth area for HCL. The
company bagged Rs.12000.000 millions worth of orders, in the last five months.
HCL expands its SI verticals. Enter new solutions segments and bag
orders from new customers across industry verticals.
Pioneers the cause of IT penetration in India with the launch of MiLeap
leaptops, the next generation, ultra portable, laptops.
The year saw growth in Services business portfolio of HCL, the services
business grew by 35% from Rs. 3600.000 millions to Rs. 4850.000 millions.
The non-telecom distribution business grew over 270% during FY 07-08.
Investor Pack for FY 2007-08 (.pdf file)
Audited Financial
Results for year ended 30th June '08 (.pdf file)
New Delhi, September 02, 2008
Highlights for
FY 07-08
The company has reported quarterly consolidated revenue of Rs. 31555.000
millions (USD 788.5 Mn), taking consolidated revenues to Rs. 126053.000
millions (USD 3149.7 Mn) for the year ended June 30, 2008.
Consolidated profit before tax during the quarter was Rs. 956.000
millions (USD 23.9 Mn), taking the consolidated profit before tax for the year
to Rs. 4301.000 millions (USD 107.5 Mn).
Consolidated profit after tax during the quarter was Rs. 651.000
millions (USD 16.3 Mn), taking the consolidated profit after tax for the year
to Rs. 3001.000 millions (USD 75.0 Mn).
Revenue from Computer Systems business during the quarter was Rs.
8766.000 millions (USD 219.0 Mn), taking the revenues for the year to Rs.
33889.000 millions (USD 846.8 Mn), a growth of 22 %.
Profit before interest and taxes for Computer Systems business during
the quarter was Rs. 391.000 millions (USD 9.8 Mn), taking the PBIT for the year
to Rs. 1995.000 millions (USD 49.9 Mn), a growth of 14%.
Revenue from Telecommunication and Office Automation business during the
quarter was Rs. 22782.000 millions (USD 569.3 Mn), taking the revenues for the
year to Rs. 92228.000 millions (USD 2304.4 Mn).
Profit before interest and taxes for Telecommunication and Office
Automation business was Rs. 709.000 millions (USD 17.7 Mn), taking the PBIT for
the year to Rs. 285.400 millions (USD 71.3 Mn).
Consolidated EPS for the year ended 30th June 2008 was Rs. 17.6 per
share.
Board of Directors has recommended a final dividend of 100% per fully
paid up share, taking the total dividend for the year 2007-08 to 400%.
Conversion Rate 1 USD = 40.02 INR
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 :
The 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.
The 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. 45.77 |
|
UK Pound |
1 |
Rs. 80.67 |
|
Euro |
1 |
Rs. 64.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
55 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|