MIRA
INFORM REPORT
|
Report Date : |
31.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
AVAYA INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
DIXON ENTERPRISE NETWORK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
62, 6th Floor, Kalpataru Synergy, Opposite to Grand Hyatt
Hotel, Vakola, Santacruz (East), Mumbai – 400055, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.04.2000 |
|
|
|
|
Com. Reg. No.: |
05-209895 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.141.652
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH2000PTC209895 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The company is engaged in the business of maintenance of
telecommunication equipments. |
|
|
|
|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial position
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
Management non co-operative.
LOCATIONS
|
Registered Office : |
62, 6th Floor, Kalpataru Synergy, Opposite to Grand Hyatt
Hotel, Vakola, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Tel. No.: |
91-124-2560500 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rajeev Shroff |
|
Designation : |
Additional Director |
|
Address : |
B – 40 Madhuvan, |
|
Date of Birth/Age : |
18.02.1964 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
01670781 |
|
|
|
|
Name : |
Mr. Devakumar Ramamoorthy |
|
Designation : |
Director |
|
Address : |
1406, Sector – D, PKT 1, Vasant Kunj, |
|
Date of Birth/Age : |
17.06.1974 |
|
Date of Appointment : |
19.06.2008 |
|
Date of Cessation : |
12.10.2011 |
|
DIN No.: |
02207794 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72200MH2000PTC209895 |
AVAYA
INDIA PRIVATE LIMITED |
Director |
19-06-08 |
19-06-08 |
12-10-11 |
Active |
NO |
|
2 |
U72300HR2008PTC038266 |
Avaya
India (SEZ) Private Limited |
Director |
13-08-08 |
13-08-08 |
- |
Active |
NO |
|
Name : |
Mr. Bee Peng Ang |
|
Designation : |
Director |
|
Address : |
BLK |
|
Date of Birth/Age : |
12.03.1970 |
|
Date of Appointment : |
26.03.2008 |
|
DIN No.: |
02117602 |
|
|
|
|
Name : |
Mr. Abhay Ramchandra Valsangkar |
|
Designation : |
Director |
|
Address : |
Lapis Lazuli B1, Flat No.1002, Garnet, south Main Road, Lane No.5,
Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
18.03.2009 |
|
DIN No.: |
02528914 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U72200MH2000PTC209895 |
AVAYA
INDIA PRIVATE LIMITED |
Additional
director |
18-03-09 |
18-03-09 |
Active |
NO |
|
2 |
U72300HR2008PTC038266 |
Avaya
India (SEZ) Private Limited |
Additional
director |
30-06-09 |
30-06-09 |
Active |
NO |
|
Name : |
Mr. Pamela Francine Craven |
|
Designation : |
Director |
|
Address : |
101, |
|
Date of Birth/Age : |
03.10.1953 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02720531 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L32200MH1986PLC040652 |
AGC
NETWORKS LIMITED |
Additional
director |
18-07-09 |
18-07-09 |
31-08-10 |
Active |
NO |
|
2 |
U72200MH2000PTC209895 |
AVAYA
INDIA PRIVATE LIMITED |
Additional
director |
30-09-10 |
30-09-10 |
- |
Active |
NO |
|
Name : |
Mr. Anthony Frank Bartolo |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
20.01.1970 |
|
Date of Appointment : |
04.12.2009 |
|
DIN No.: |
02921828 |
KEY EXECUTIVES
|
Name : |
Mr. Krishan Lall |
|
Designation : |
Company Secretary |
|
Address : |
90/88, Ground Floor, Malviya Nagar, |
|
Date of Birth/Age : |
19.07.1943 |
|
Date of Appointment : |
23.08.2005 |
|
PAN No.: |
ABHPL8143P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sierra Communication International LLC, New Jersey |
14165050 |
|
Avaya International Enterprises Limited, |
100 |
|
Total |
14165150 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of maintenance of
telecommunication equipments. |
|
|
|
|
Products : |
Software |
GENERAL INFORMATION
|
No. of Employees : |
Information not given to the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes (Sharmila A. Karve – Partner) Chartered Accountant |
|
Address : |
252, Veersavarkar Marg, Shivaji Parkm Dadar West, Mumbai – 400028, |
|
Pan No.: |
AETPK7563H |
|
|
|
|
Ultimate Holding Company : |
·
Avaya Inc., USA |
|
|
|
|
Holding Company : |
·
Sierra Communication International LLC, USA
(Formerly known as Avaya International LLC, USA) |
|
|
|
|
Fellow Subsidiaries : |
·
Avaya China ·
Avaya International Sales Limited ·
Avaya Singapore ·
Avaya India (SEZ) Private Limited ·
Avaya Canada ·
Avaya Management Services Inc ·
Avaya Australia Pty Limited ·
Avaya Japan ·
Avaya Malaysia ·
AGC Networks Limited (up to August 31, 2010) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16450000 |
Equity Shares |
Rs.10/- each |
Rs. 164.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14165150 |
Equity Shares |
Rs.10/- each |
Rs. 141.652
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
141.652 |
141.652 |
141.652 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2482.841 |
1696.671 |
1053.330 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2624.493 |
1838.323 |
1194.982 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
7.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
7.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2631.493 |
1838.323 |
1194.982 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1129.594 |
1245.625 |
978.886 |
|
|
Capital work-in-progress |
0.000 |
12.082 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
149.026 |
81.579 |
29.407 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
53.622
|
184.837
|
0.000 |
|
|
Sundry Debtors |
1796.740
|
534.093
|
373.333 |
|
|
Cash & Bank Balances |
125.947
|
217.663
|
66.976 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
222.986
|
237.550
|
127.269 |
|
Total
Current Assets |
2199.295
|
1174.143 |
567.578 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
436.610
|
269.278 |
159.239 |
|
|
Other Current Liabilities |
273.607
|
250.420
|
132.011 |
|
|
Provisions |
136.205
|
155.408
|
89.639 |
|
Total
Current Liabilities |
846.422
|
675.106 |
380.889 |
|
|
Net Current Assets |
1352.873
|
499.037
|
186.689 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2631.493 |
1838.323 |
1194.982 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
3691.100 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
5183.265 |
3691.100 |
2846.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
2627.100 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3819.375 |
2627.100 |
2138.400 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1363.890 |
1064.000 |
708.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
444.158 |
377.200 |
247.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
919.732 |
686.800 |
460.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
172.553 |
49.200 |
47.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
747.179 |
637.600 |
413.500 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
747.179 |
637.600 |
413.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software Development Services |
3385.605 |
3060.231 |
2552.659 |
|
|
|
Technical Services |
699.701 |
196.301 |
22.303 |
|
|
TOTAL EARNINGS |
4085.306 |
3256.532 |
2574.962 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
158.067 |
158.200 |
165.896 |
|
|
TOTAL IMPORTS |
158.067 |
158.200 |
165.896 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
52.75 |
45.01 |
29.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
14.42
|
17.27
|
14.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.44
|
27.46
|
29.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.37
|
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.33
|
0.37
|
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
1.74
|
1.49 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors
|
|
|
|
|
- Dues of Micro Enterprises and
Small Enterprises |
0.560 |
0.811 |
-- |
|
- Dues of Creditors |
436.050 |
268.467 |
159.239 |
|
|
|
|
|
|
Total |
436.610 |
269.278 |
159.239 |
NOTE:
The Registered Office of the company has been shifted from DLF Square,
19th Floor, Jacaranda Marg, DLF City, Phase – II, Gurgaon – 122002,
Haryana, India, to the present address w.e.f. 17.09.2010
PERFORMANCE
During the year, the Company achieved a turnover of Rs. 5183.265
Millions and earned a profit after tax of Rs. 747.179 millions as compared to
the turnover of Rs. 3691.140 Millions and a profit after tax of Rs. 637.584
Millions during the previous year i.e. an increase of 40.42% and 17.19%
respectively.
BUSINESS
OPERATIONS OF THE COMPANY
FUTURE OUTLOOK
The company will focus on Sales and Services activities during the year
along with other activities of the company.
CONTINGENT LIABILITIES
- (RS IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Income Tax Matters |
6.665 |
6.665 |
6.665 |
|
|
|
|
|
FIXED ASSETS
· Computer Systems
· Furniture and Fixtures
· Office Equipments
· Leasehold Improvement
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 53.26 |
|
|
1 |
Rs. 82.09 |
|
Euro |
1 |
Rs. 68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
61 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.