MIRA
INFORM REPORT
|
Report Date : |
19.02.2011 |
IDENTIFICATION DETAILS
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Name : |
HCL TECHNOLOGIES LIMITED |
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Registered Office : |
806, Siddharth 96, |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
12.11.1991 |
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Com. Reg. No.: |
55-046369 |
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CIN No.: [Company
Identification No.] |
L74140DL1991PLC046369 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELH01586E |
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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 : |
Subject is a offshore IT and Software Development Company. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (72) |
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RATING |
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 190000000 |
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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 well established and a reputed company having fine track records.
Financial position of the company appears to be sound. Fundamentals are
strong and healthy. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered normal for 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
806, Siddharth 96, |
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E-Mail : |
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Website : |
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Corporate Office : |
Chennai Centers 50-53, Greams Road, Chennai - 600 006, Tamil Nadu, India Tel. : 91 -44-2829 3298 Fax: 91-44-28294969 Module 812, 8th Floor, Mount Road, Chennai - 600 002, Tamil
Nadu, India Tel. : 91-44-2860 3091 Fax: 91-44-28603087 Thapar House 43 / 44, Montieth Road, Egmore, Chennai - 600 008, Tamil Nadu, India Tel. : 91-44-2851 1293 Fax : 91-44-2851 1986 158, Arcot Road, Vadapalani, Chennai - 600 026, Tamil Nadu, India Tel. : 91-44-2375 0171 Fax: 91-44-23750185 78, Ambattur industrial Estate, Ambattur (AMB-2), Chennai - 600 058,
Tamil Nadu, India Tel. : 91-44-2623 2318 Fax : 91-44-26259476 94, South Phase, Ambattur Industrial Estate, Ambattur (AMB-4), Chennai
- 600 058, Tamil Nadu, India Tel. : 91 -44-4226 2222 Fax: 91-44-42153333 8, South Phase, MTH Road, Ambattur Industrial Estate, Ambattur
(AMB-6), Chennai - 600 058, Tamil Nadu, India Tel.: 91-44-43968000 Fax : 91-44-4396 7004 49-50, Nelson Manickam Road, Chennai - 600 029, Tamil Nadu, India Tel. : 91-4423741939 Fax : 91-442374 1038 35, South Phase, Guindy Industrial estate, Ekkaduthangal, Guindy
(GUINDY-2), Chennai - 600 097, Tamil Nadu, India Tel. : 91-44-2231 8321 Tel. : 91-44-2231 8320 PM Tower, 37, Greams Road, Chennai - 600 006, Tamil Nadu, India Tel. : 91-44-2829 1735 Fax: 91-44-2829 1738 34 and 35, Haddows Road, Chennai - 600 034, Tamil Nadu, India Tel. : 91-44-4220 9999 Fax: 91-44-42132749 No.184-188, 190,192 and 196, Arcot Road, Vadapalani, Chennai - 600
026, Tamil Nadu, India Tel. : 91-44-2372 8366 Fax: 91-44-24806640 D-12, 12B, Ambattur Industrial Estate, Ambattur (AMB-1), Chennai - 600
058, Tamil Nadu, India Tel. : 91-44-2623 0711 Fax: 91-44-26244213 64 and 65, Second Main Road, Ambattur Industrial Estate, Ambattur
(AMB-3), Chennai - 600 058, Tamil Nadu, India Tel. : 91-44-2652 1077 Fax: 91-44-42060485 73-74, South Phase, Ambattur Industrial Estate, Ambattur (AMB-5), Chennai - 600 058, Tamil Nadu, India Tel. : 91-44-4393 5000 Fax : 91-44-4206 0441 Sapna Trade Centre 109/110 PH Road, Chennai - 600 084, Tamil Nadu, India Tel. : 91-44-2822 1129 Fax: 91-44-2821 4278 No. 51, J.N. Road, Guindy (GUINDY-1), Chennai - 600 097, Tamil Nadu, India Tel. : 91-44-2231960/65 Fax : 91 -44-2234 4256 Sterling Technopolis 4/293 Old Mahabalipuram Road, Kandanchavadi, Chennai - 600 096, Tamil Nadu, India Tel. : 91-44-43957777 601-602, 604 Tidel Park, 4 Canal Road, Taramani, Chennai - 600 113, Tamil Nadu, India Tel. : 91-44-22540473 Fax : 91 -44-2254 0308 HCL Technologies Limited (C-1) #30, Ethiraj Salai, Egmore, Chennai - 600105, Tamil Nadu, India Tel. : 91-44-2828 9200 HCL Technologies Limited (C-3) Unit-2, Block-1, No. 84, Greams Road, Thousand Lights, Chennai - 600 006, Tamil Nadu, India Tel. : 91 -44-6622 5522 HCL Technologies Limited (C-5) Module 1, Tower 1, Floor Nos. 1 and 6, "Chennai One" SEZ Unit ETL Infrastructure Services Limited 200 Ft, Thoraipakkam, Pallavaram Ring Road, Thoraipakkam, Chennai - 600 096, Tamil Nadu, India Tel. : 91-44-6630 1000 HCL Technologies Limited (C-2) Unit-2, Block-1, No. 84, Greams Road Thousand Lights, Chennai - 600 006, Tamil Nadu, India Tel. : 91 -44-6622 5522 HCL Technologies
Limited (C-4) Unit-2, Block-1,
No.84, Greams Road, Thousand Lights, Chennai - 600 006, Tamil Nadu, India Tel. :
+91-44-66225522 Chennai SEZ HCL Technologies
Limited SEZ Unit, ETA
Techno Park, Special Economic Zone, Block-4 No.33, OMR, Navallur Village and
Panchayat, Thiruporur Panchayat Union, Chengelpet Taluk, Kancheepuram
District, Chennai - 603 103, Tamil Nadu, India. Phone:
91-44-47461000 Fax : 91 -44-6741
2222 Chennai SEZ HCL Technologies
Limited SEZ Unit, ELCOT,
SEZ, No. 602/3, Sholinganallur Village, Medavakkam High Road, Chennai - 600
119, Tamilnadu, India Ph :
91-44-66429000 Fax:
91-44-43325443 Unit No.181 B, SDF 6, First Floor, SEEPZ, Andheri (East), Mumbai - 400
096, Tel.: 91-22-28291999/ 56939295 Fax: 91-22-29292373 Gurgaon Centers 3, Udyog Vihar Phase 1, Gurgaon, 122 016, Tel. : 91-124-4346400 Fax:+91-124-2439910 Plot No. 244, Udyog Vihar, Phase 1, Gurgaon- 122 016, Tel. : 91-124-4346200 Fax:+91-124-2349020 Plot No C-1, Sector-34, Gurgaon - 122 016, Tel. : 91-124-6616565, 4656565 Fax: +91-124-2212381 Plot No. 5,6,7 Udyog Vihar, Phase 4, Gurgaon- 122 016, Tel. : 91-124-4346000 Fax:+91-124-4019851 Kolkata Centers Tel. : 91-33-2357 3024-5 Fax: 91-33-25373027 HCL Technologies Limited - SEZ Unit M/s. Unitech Hi-Tech Structures Limited Special Economic Zone - IT/ITES Plot No.1, Block No. A2, 3rd and 4th Floors, Tel. : 91-33-2357 2487-90 Fax: 91-33-23572491 Noida Centers A - 9, 10 and 11, Sector 3, Noida - 201 301, Tel. : 91-120-2520917/2535071 Fax: 91-120-2526907/2530591 A11, Sector 16, Noida - 201 301, Tel. : 91-120-2510701 Fax: 91-120-2510713 A 91, Sector 2, Noida - 201 301, Tel. : 91-120-4502700 Fax: +91-120-4202910 C - 22 A, Sector 57, Noida - 201 301, Tel. : 91-120-4385000 Fax: 91-120-2586420 A-104, Sector 58, Noida – 201307, Tel. : 91-120-2589690 Fax: 91-120-2589688 C-23, Sector 58, Noida 201 307, Tel. : 91-120-4364400 Fax: 91-120-2589690 A - 5, Sector 24, Noida - 201 301, Tel. : 91-120-2411502 Fax: 91-120-2411005 Plot No. 1 and 2 Sector-125, Noida - 201301, Tel. : 91-120-6614300 Fax: 91-120-6614331 A- 8 and 9, Sector 60, Noida - 201 301, Tel. :91-120-4384000 Fax : 91-120-2582915 C-39, Sector 59, Noida - 201 307. Tel. : 91-120-2589690 Fax: 91-120-2589690 A - 22, Sector 60, Noida - 201 307, Tel. : 91-120-2589690 Fax : 91-120-2589688 B-34 / 3, Sector 59, Noida - 201 307, Tel. : 91-120-4364488 Fax: 91-120-2588972 Noida SEZ HCL Technologies
Limited Noida Technology
Hub (SEZ) Plot No: 3A,
Sector-126, Noida - 201 303, Ph No.:
91-120-4683000 Fax No:
91-120-4683030 Hyderabad
Centers Ground and First Floor, Tel.': 91-40-6643 1999 Fax: 91-40-6643 1900 The V, First Floor, Auriga Block, Plot No.17, Software Units Layout,
Madhapur, Tel. : 91-40-6644 0333 Tower: H08, L and T Phoenix Info Park Private Limited Tel. : +91-40-4454 1000 Fax : +91-40-40273333 Bangalore
Centers #564, Pattandur Agrahara Road, Off Whitefield Road, Next to ITPL,
Bangalore - 560066, Karnataka, India Tel.: 91-80-4187 3000 Fax: 91-80-41259126 The Leela Galleria Commercial Block, Tel.: 91-80-2505 4000 Fax: 91-80-2521 7108 8 and 9, G.B. Palya, Off. Ph.: 91-80-4158 4000 Fax: 91-80-25735516 Surya Sappihre Plot No. 3, 1st Phase, Electronic City, Ph.: 91-80-64502301 The Senate, Tel.: 91-80-4190 6000 Fax: 91-80-41246888 Tel.: 91-80-4103 5000 Fax: 91-80-26680312 #690, 5th and 6th Floor, Gold Hill Square (GHS)
Bommanahalli, Hosur Main Road, Bangalore - 560 068, Karnataka, India Ph.: 91-80-4141 5000/5527 5000 Fax: 91-80-2572 7989 HCL EAI Services Limited #6, A.S. Chambers, Phone: 91-80-66441000 HCL Technologies Limited (SEZ) No. 129, Jigani Bomasandra, |
DIRECTORS
As On : 30.06.2010
|
Name : |
Mr. Shiv Nadar |
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Designation : |
Chairman and Chief Strategy Officer |
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Name : |
Mr. Vineet Nayar |
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Designation : |
Chief Executive Officer and Whole-time Director |
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Name : |
Mr. T S R Subramanian |
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Designation : |
Non Executive Director |
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Name : |
Ms. Robin Abrams |
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Designation : |
Non Executive Director |
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Name : |
Mr. Ajai Chowdhry |
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Designation : |
Non Executive Director |
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Name : |
Mr. Subroto Bhattacharya |
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Designation : |
Non Executive Director |
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Name : |
Mr. Amal Ganguli |
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Designation : |
Non Executive Director |
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Name : |
Mr. P C Sen |
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Designation : |
Non Executive Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Promoter and
Promoter Group |
|
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(1) Indian |
|
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Bodies Corporate |
323082542 |
47.23 |
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Any Other
(Specify) |
719 |
-- |
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Directors and their relatives |
394 |
- |
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Trusts * |
325 |
- |
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(2) Foreign |
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Bodies Corporate ** |
120259208 |
17.58 |
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(B) Public
Shareholding |
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(1) Institutions |
|
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Mutual Funds / UTI |
21502270 |
3.14 |
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Financial Institutions / Banks |
42416 |
0.01 |
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Insurance Companies |
17393930 |
2.62 |
|
Foreign Institutional Investors |
148063070 |
21.64 |
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Any Other
(Specify) |
1244 |
-- |
|
Foreign Banks |
1244 |
-- |
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(2)
Non-Institutions |
|
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Bodies Corporate |
20676440 |
3.02 |
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Individuals |
|
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Individual shareholders holding nominal share capital up to Rs. 0.100
million |
16872561 |
2.47 |
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Individual shareholders holding nominal share capital in excess
of Rs. 0.100 million |
3606867 |
0.53 |
|
Any Other
(Specify) |
|
|
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Trusts |
73861 |
0.01 |
|
Foreign Nationals |
103450 |
0.02 |
|
Non Resident Indians |
2158693 |
0.32 |
|
Overseas Corporate Bodies |
8825238 |
1.29 |
|
Clearing Members |
710669 |
0.10 |
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Hindu Undivided Families |
146470 |
0.02 |
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|
|
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Total (A) + (B) |
684065648 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a offshore IT and Software Development Company. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
v
Citi Bank, N.A. Global Corporate and Investment Banking, DLF Centre, 5th Floor,
v Deutsche Bank AG Corporate Office - v Standard Chartered Bank Corporate and Institutional Banking, Credit Operations, v State Bank of India Corporate Accounts Group Branch, 11th / 12th Floor, Jawahar Vyapar Bhawan 1, Tolstoy Marg, New Delhi -110001, India |
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Facilities : |
Notes 1. The Company allotted 10,000 secured redeemable non convertible
debentures of face value of Rs. 1.000 million each, aggregating to
Rs.10000.000 millions. The debentures are secured by specified movable
assets, receivables from subsidiaries and land and building of the Company.
Debentures are redeemable at par on following date. Debenture – Series
Maturity Date 7.55% Redeemable non convertible debentures August 25,2011 8.20% Redeemable non convertible debentures August 25,2012 8.80% Redeemable non convertible debentures September 10, 2014 2. Rs. Nil million (Previous
Year: Rs 969.400 millions) secured by fixed deposits pledged with banks of
Rs. Nil million (Previous Year: Rs 5869.500 millions) 3. Obligation under finance lease are secured by fixed assets taken on
lease.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batllboi and Company Chartered Accountant |
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Address : |
Gurgaon, India |
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Subsidiaries : |
v
HCL Comnet Systems and Services Limited v
HCL Bermuda Limited v
HCL Italy SLR v
HCL Australia Services Pty. Limited v
HCL (New Zealand) Limited v
HCL Hong Kong SAR Limited v
HCL Japan Limited v
HCL Comnet Limited v
HCL America Inc. v
HCL Holdings GmbH v
Intelicent India Limited v
DSI Financial Solutions Pte. Limited v
HCL Jones Technologies LLC v
HCL Singapore Pte. Limited v
HCL Insurance BPO Services Limited v
HCL Expense Management Services Inc. v
Axon Group Limited. (formerly Axon Group Plc.) v
Axon EBT Trustee Limited v
Bywater Limited v
Axon Solutions Schweiz Gmbh v
Axon International Limited v
Axon Solutions Pty. Limited v
Axon Acquisition Company, Inc. v
Axon Solutions Sdn. Bhd. v
Axon Solutions (Shanghai) Co. Limited v
JSPC- I Solutions Sdn. Bhd. v
JSP Consulting Sdn. Bhd. v
Aspire Solutions Sdn. Bhd. v
HCL Technologies Canada Inc. v
HCL Argentina s.a. v
HCL Mexico S. de R.L. v
HCL Technologies Romania s.r.l. v
HCL Hungary Limited v
HCL Latin America Holding LLC v
HCL (Brazil) Technologia da informacao Limited v
HCL Retail Solutions Australia Pty Limited v
HCL Technologies Denmark Apps v
HCL Technologies Norway AS v
HCL America Inc., United States of America v
HCL Great Britain Limited, United Kingdom v
HCL (Netherlands) BV, Netherlands v
HCL GmbH, Germany v
HCL Belgium NV, Belgium v
HCL Sweden AB, Sweden v
HCL Australia Services Pty. Limited, Australia v
HCL (New Zealand) Limited, New Zealand v
HCL Hong Kong SAR Limited, Hong Kong v
HCL Comnet Systems and Services Limited, India v
HCL Comnet Limited, India v
HCL Bermuda Limited, Bermuda v
HCL Technologies (Shanghai) Limited, Shanghai v
HCL BPO Services (NI) Limited, Northern Ireland v
HCL Singapore Pte. Limited, Singapore v
HCL (Malaysia) Sdn. Bhd., Malaysia v
HCL EAI Services Limited, India v
HCL Technoparks Limited, India v
HCL Poland Sp.z.o.o., Poland v
Capital Stream Inc., United States of America v
HCL Axon (Pty) Limited v
Axon Solutions Inc. , United States of America v
Axon Solutions Limited, U K v
Axon Solutions Singapore Pte Limited v
Axon Solutions Sdn. Bhd., Malaysia v
HCL Insurance BPO Services Limited, U K v
Axon Solutions (Canada) Inc., Canada v
HCL Technologies Canada Inc. v
Axon Group PLC v
HCL France v
HCL EAS Limited, U K |
CAPITAL STRUCTURE
As On : 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Shares |
Rs. 2/- each |
Rs. 1500.000 millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
678783812 |
Equity Shares |
Rs. 2/- each |
Rs. 1357.600
millions |
|
|
|
|
|
Notes :
1.
Paid up share capital includes:
• 42,449,979
(Previous year 42,449,979) equity shares of Rs. 2 each allotted as fully paid up,
pursuant to contracts for consideration other than cash.
• 82,986,872
(Previous year 82,986,872) equity shares of Rs. 2 each issued as bonus shares
in the ratio of one share for every two held by capitalization of general
reserve and 325,453,918 (Previous year 325,453,918) equity shares of Rs. 2 each
issued as bonus shares in the ratio of one share for every share held by
capitalization of securities premium account.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1357.600 |
1340.500 |
1332.700 |
|
|
2] Share Application Money |
20.100 |
4.700 |
17.100 |
|
|
3] Reserves & Surplus |
47980.900 |
33537.200 |
30798.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
49358.600 |
34882.400 |
32148.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10305.100 |
1238.100 |
252.400 |
|
|
2] Unsecured Loans |
3668.800 |
3899.200 |
0.900 |
|
|
TOTAL BORROWING |
13973.900 |
5137.300 |
253.300 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
63332.500 |
40019.700 |
32401.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9438.300 |
8569.800 |
7252.900 |
|
|
Capital work-in-progress |
4772.000 |
4175.600 |
4190.300 |
|
|
|
|
|
|
|
|
INVESTMENT |
22332.000 |
5627.500 |
17973.400 |
|
|
DEFERREX TAX ASSETS |
1061.600 |
2260.000 |
1406.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
120.400
|
870.100
|
0.000 |
|
|
Sundry Debtors |
20847.000
|
14892.600
|
9800.200 |
|
|
Cash & Bank Balances |
9894.300
|
13658.300
|
6868.800 |
|
|
Other Current Assets |
4080.300
|
3232.400
|
2308.100 |
|
|
Loans & Advances |
12347.400
|
12672.800
|
5221.900 |
|
Total
Current Assets |
47289.400
|
45326.200 |
24199.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6456.000
|
8047.500 |
10500.600 |
|
|
Other Current Liabilities |
10768.800
|
14112.400
|
7787.900 |
|
|
Provisions |
4336.000
|
3779.500
|
4331.500 |
|
Total
Current Liabilities |
21560.800
|
25939.400 |
22620.000 |
|
|
Net Current Assets |
25728.600
|
19386.800
|
1579.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
63332.500 |
40019.700 |
32401.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue |
50787.600 |
46750.900 |
46153.900 |
|
|
|
Other Income |
1717.700 |
2658.100 |
1704.000 |
|
|
|
TOTAL |
52505.300 |
49409.000 |
47857.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
854.700 |
0.000 |
24481.800 |
|
|
|
Personal Expenses |
21876.600 |
19302.200 |
0.000 |
|
|
|
Other Expenses |
14491.900 |
15390.000 |
12254.200 |
|
|
|
TOTAL |
37223.200 |
34692.200 |
36736.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
15282.100 |
14716.800 |
1112.190 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1013.600 |
280.900 |
190.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14268.500 |
14435.900 |
10931.200 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2740.300 |
2518.900 |
2178.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11528.200 |
11917.000 |
8752.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(962.400) |
(1943.900) |
(946.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
10565.800 |
9973.100 |
7806.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19209.700 |
15727.300 |
15704.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1056.600 |
997.300 |
780.600 |
|
|
|
Proposed Final Dividend |
681.600 |
679.000 |
1999.400 |
|
|
|
Corporate Dividend Tax |
113.200 |
115.400 |
339.700 |
|
|
|
Interim Dividend |
2023.300 |
4017.100 |
3986.400 |
|
|
|
Corporate Dividend Tax on Interim Dividend |
341.300 |
681.900 |
677.500 |
|
|
|
Transfer to debenture redemption Reserve |
2950.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
22609.500 |
19209.700 |
15727.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Earnings |
49682.400 |
45725.300 |
45458.900 |
|
|
TOTAL EARNINGS |
49682.400 |
45725.300 |
45458.900 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1149.100 |
1080.300 |
677.800 |
|
|
TOTAL IMPORTS |
1149.100 |
1080.300 |
677.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.68 |
14.91 |
11.75 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
PARTICULARS |
|
30.09.2010 |
31.12.2010 |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
14988.200 |
16490.600 |
|
Total Expenditure |
|
12200.000 |
12813.400 |
|
PBIDT (Excl OI) |
|
2783.200 |
3677.200 |
|
Other Income |
|
420.200 |
385.300 |
|
Operating Profit |
|
3208.400 |
4062.500 |
|
Interest |
|
262.900 |
254.100 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
2940.500 |
3806.400 |
|
Depreciation |
|
734.300 |
721.500 |
|
Profit Before Tax |
|
2206.200 |
3086.900 |
|
Tax |
|
257.400 |
227.200 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
1948.800 |
2859.700 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
1948.800 |
2859.700 |
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
PAT / Total Income |
(%) |
20.12
|
20.18
|
16.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.70
|
25.54
|
18.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.95
|
18.10
|
15.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.34
|
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.72
|
0.74
|
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
1.75
|
1.07 |
LOCAL AGENCY FURTHER INFORMATION
OVERVIEW
During the
financial year 2009-10, on a standalone basis, the Company’s revenues stood at
Rs. 50787.600 millions registering a growth of 8.63% over the previous year and
on a consolidated basis, the Company’s revenues for the year 2009-10 stood at
Rs. 121362.900 millions registering a growth of 18.64% over the previous year.
MANAGEMENT DISCUSSION AND ANALYSIS
Investors are
cautioned that this discussion contains forward looking statements that involve
risks and uncertainties. When words like ‘anticipate’, ‘believe’, ‘estimate’,
‘intend’, ‘will’, and ‘expect’ and other similar expressions are used in this
discussion, they relate to the Company or its business and are intended to
identify such forward-looking statements. The Company undertakes no obligations
to publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise. Actual results,
performances or achievements could differ materially from those expressed or
implied in such statements. Factors that could cause or contribute to such
differences include those described under the heading ‘Risk Factors’ in the
Prospectus filed with the Securities and Exchange Board of India (SEBI) as well
as factors discussed elsewhere in this report. Readers are cautioned as not to
place undue reliance on the forward looking statements as they speak only as of
their dates. The following discussion and analysis should be read in
conjunction with the Company’s financial statements included herein and the
notes thereto.
INDUSTRY OVERVIEW
CURRENT STATE OF
INDIAN IT INDUSTRY
Indian IT Industry
has witnessed a decade of growth. Indian IT exports have grown from $4bn in
FY2000 to $50bn in FY2010 at a 10-year CAGR of 28.8%. During the first half of
the decade, Indian IT exports grew at a 5-year CAGR of 35% from $4bn in FY2000
to $18bn in FY2005. During the second half of the decade, Indian IT exports
grew at a 5-year CAGR of 23% from $18bn in FY2005 to $50bn in FY2010.
BFSI,
Hi-tech/Telecom, and Manufacturing were the dominant verticals contributing to
over 3/4th of the exports over past several years. BFSI contributed to 40% of
Indian IT Exports during FY10. Hitech /Telecom and Manufacturing contributed
20% and 16% respectively. Emerging verticals (Media and Entertainment, Retail,
Healthcare, Utilities, and Transportation) have contributed to nearly 1/4th of
the exports. IT Services contributed to 55% of the IT Exports during FY10. BPO
and Engineering Services contributed 25% and 20% respectively. This share
distribution has remained somewhat constant over past several years. Within IT
Services, the share of Custom Application Development Services came down from
49% to 37% during the 3-year period, whereas the share of Remote Infrastructure
Management and System Integration services increased from 11% to 20%.
Application Management Services grew much faster than Application development
services at a 3-year CAGR of 24%. Other IT Services (such as IT Consulting,
Support and Training, Software Testing, SOA/Web Services etc.) grew at a 3-year
CAGR of 17%. US and UK were the dominant regions receiving over 3/4th of the
Indian IT exports over past several years. US received 61% of Indian IT Exports
during FY10, whereas UK received 18%. Continental Europe and APAC received 12%
and 7% of exports respectively. The Geo distribution has not changed much over
past several years.
INDUSTRY
OUTLOOK
The first decade
of the 21st Century was somewhat unique. It saw everything from highly volatile
Oil prices, increasingly rising commodity prices, bulls and bears of stock
markets, focus/defocus on climate change, and debates/concerns about scarcity
of natural resources. It started with a recession and it is ending with a
recession. But, there is big difference between the two. While the previous
recession was led by the slowdown in business spending, the current recession
is led by the slowdown in both business and consumer spending. Consumer
confidence has completely shaken due to increasing job losses, salary
freeze/cuts, and memory of loan foreclosures. Consumers are taking
precautionary approach to spending and reducing their debt levels. They are
spending on what they need rather than what they want. Banks have started
adopting tighter credit and stricter lending standards towards consumers, as
they side-step Risk with ‘Be Prepared’ approach instead of a ‘Just do it’
approach. All this is leading to the phenomenon of ‘New Normal’. The ‘New
Normal’ means we will be living in a world of moderated business growth during
next few years. The businesses across the world won’t be growing at the same
pace as they were growing from 2005-08. The customers will be demanding more
for less. They will look for business benefits than IT benefits. They would
want vendors to put skin in the game and co-invest in the transformation
initiatives.
Indian IT Industry
will also witness lesser growth rates in the next decade than in the last
decade. As per NASSCOM Mckinsey 2020 report, the total global sourcing industry
will grow at a CAGR of 15% from 2008 until 2020. It is likely to expand more
than five-fold by 2020 from $80 bn in revenues in 2008 to $450 bn by 2020
(based on a penetration of 40% of the total addressable market of $ 1.1 trn).
The Indian global sourcing industry will grow at a slightly lower CAGR of 13%
and is likely to expand four-fold by 2020 from $40 bn in revenues in 2008 to
$175 bn by 2020. This will imply a decline in India’s share of the global
market from 51% to around 40% by 2020. The companies with disruptive business
models will be able to buck this trend and grow at much faster growth rates.
STANDALONE
ENTITY AS PER INDIAN GAAP
(Rs. in millions)
|
Particulars |
Quarter Ended |
Quarter Ended |
|
31.12.2010 |
31.12.2010 |
|
|
(Un-audited) |
(Un-audited) |
|
|
Income |
16490.600 |
31473.900 |
|
Total Revenue |
16490.600 |
31473.900 |
|
|
|
|
|
Total Expenditure |
|
|
|
Cost of goods Sold |
1.700 |
45.500 |
|
Personal Expenses |
8302.300 |
15970.500 |
|
Outsourcing Cost |
918.300 |
1298.700 |
|
Travel and Conveyance |
1740.200 |
3558.400 |
|
Operating and Other Expenses |
1759.900 |
3489.900 |
|
Depreciation |
721.500 |
1455.800 |
|
Exchange Difference |
91.000 |
450.300 |
|
Total |
13534.900 |
26269.100 |
|
|
|
|
|
Net Profit (+) / Loss (-) before Other Income, Interest, |
2955.700 |
5004.800 |
|
Extra Ordinary Items and Taxes (1-2) |
|
|
|
|
|
|
|
Other Income |
385.300 |
805.500 |
|
|
|
|
|
Net Profit (+) / Loss (-) before Interest, Extra Ordinary Items and Taxes (3+4) |
3341.000 |
5810.300 |
|
|
|
|
|
Interest |
254.100 |
517.000 |
|
|
|
|
|
Net Profit(+) / Loss (-) after Interest but before Extra Ordinary Items and Taxes (5-6) |
3086.900 |
5293.300 |
|
|
|
|
|
Profit(+) / Loss (-) before Tax (7-8) |
3086.900 |
5293.300 |
|
|
|
|
|
Provision for Taxation |
227.200 |
484.600 |
|
|
|
|
|
Net Profit (+) / Loss (-) (9-10) |
2859.700 |
4808.700 |
|
|
|
|
|
Paid-up Equity Share Capital |
1368.100 |
1368.100 |
|
(Face Value per Share ` 10/-Each ) |
|
|
|
|
|
|
|
Reserves excluding Revaluation Reserves |
51951.000 |
51951.000 |
|
|
|
|
|
EPS (` per share): |
|
|
|
Basic |
4.19 |
7.06 |
|
|
|
|
|
Dividend Per Share |
2.00 |
3.50 |
|
|
|
|
|
Public Shareholding |
|
|
|
- No. of Shares |
240723179 |
240723179 |
|
- Percentage of Shareholding |
35.19 |
35.19 |
|
|
|
|
|
Promoter's and Promoter Group Shareholding: |
|
|
|
Non-encumbered |
|
|
|
- No. of Shares |
443342469 |
443342469 |
|
- Percentage of Shares(as % of the Total Shareholding of the Promoter's and Promoter Group) |
100 |
100 |
|
- Percentage of Shares(as % of the Total Share Capital of the Company) |
64.81 |
64.81 |
Notes :
1.
The financial results for the quarter ended December 31, 2010
have been subjected to limited review by the statutory auditors. After approval
by the Audit Committee, these results have been approved and taken on record by
the Board of Directors at its meeting held on January 19, 2011.
2.
Ratios have been computed as under:-(a) Debt Service Coverage
Ratio = (Profit from Ordinary Activities before tax + Interest on Long-term
Loans) / (Interest on Long-term Loans + Repayment of Long-term Loans)(b)
Interest Service Coverage Ratio = (Profit from Ordinary Activities before tax +
Interest on Long-term Loans) / Interest on Long-term Loans
3.
During the quarter ended December 31, 2010, the Board of
Directors has declared an interim dividend of Rs.2 per share (100% on par value
of Rs.2 per share), amounting to Rs.13,68.100 millions, which takes total
dividend for the six month ended December 31, 2010 to Rs. 2388.100 millions.
4.
During the quarter ended December 31, 2010, HCL Technologies
Limited received 17 complaints from its shareholders which have been resolved.
As on October 1, 2010 and as on December 31, 2010, no complaint was pending for
disposal.
5.
Segment Information :
(Rs. in millions)
|
Sl. No. |
|
Particulars |
Quarter Ended |
Quarter Ended |
|
|
31.12.2010 |
31.12.2010 |
||
|
|
(Un-audited) |
(Un-audited) |
||
|
1 |
|
Segment Revenue |
|
|
|
|
|
|
|
|
|
|
|
a) Software Services |
13789.800 |
25739.400 |
|
|
|
b) Business Process Out Sourcing |
1068.000 |
1997.700 |
|
|
|
c) Infrastructure Services |
1632.800 |
3736.800 |
|
|
|
Total |
16490.600 |
31473.900 |
|
|
|
|
|
|
|
|
|
Less : Inter Segment Revenue (Net of Excise) |
-- |
-- |
|
|
|
|
|
|
|
|
|
Net Sales / Income from Operation |
16490.600 |
31473.900 |
|
|
|
|
|
|
|
2 |
|
Segment Results |
|
|
|
|
|
|
|
|
|
|
|
a) Software Services |
3477.500 |
5957.900 |
|
|
|
b) Business Process Out Sourcing |
149.600 |
76.100 |
|
|
|
c) Infrastructure Services |
27.000 |
610.500 |
|
|
|
Total |
3654.100 |
6644.500 |
|
|
|
|
|
|
|
|
|
Less :Interest |
254.100 |
517.000 |
|
|
|
Less : Other Unallocable Expenses and Extra Ordinary Items |
313.100 |
834.200 |
|
|
|
Net Profit (+) / Loss(-) before Tax |
3086.900 |
5293.300 |
|
|
|
|
|
|
|
3 |
|
Segment Capital Employed |
|
|
|
|
|
a) Software Services |
17870.600 |
17870.600 |
|
|
|
b) Business Process Out Sourcing |
1824.300 |
1824.300 |
|
|
|
c) Infrastructure Services |
2392.600 |
2392.600 |
|
|
|
Segment Total Capital Employed |
22087.500 |
22087.500 |
|
|
|
Other un-allocated assets |
31318.600 |
31318.600 |
|
|
|
Total |
53406.100 |
53406.100 |
6.
Segment of Assets and Liabilities
|
SOURCES OF FUNDS (Rs. In Millions) |
|
31.12.2010
(unaudited) |
30.06.2010
(audited) |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
|
1368.100 |
1357.600 |
|
|
2] Share Application Money Pending Allotment |
|
87.000 |
20.100 |
|
|
3] Reserves & Surplus |
|
51951.000 |
47980.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
10265.800 |
10305.100 |
|
|
2] Unsecured Loans |
|
3760.500 |
3668.800 |
|
|
|
|
|
|
|
|
TOTAL |
|
67432.400 |
63332.500 |
|
|
|
|
|
|
|
|
NET FIXED ASSETS |
|
16998.900 |
14210.300 |
|
|
Investment |
|
21324.800 |
22332.000 |
|
|
Deferred Assets, Loans and Advances |
|
1177.800 |
1061.600 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1305.300 |
120.400 |
|
|
Sundry Debtors |
|
18394.100 |
2084.700 |
|
|
Cash & Bank Balances |
|
14138.200 |
9894.300 |
|
|
Other Current Assets |
|
4996.500 |
4080.300 |
|
|
Loans & Advances |
|
12201.800 |
12347.400 |
|
Total
Current Assets |
|
51035.900 |
28527.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
|
17324.600 |
17224.800 |
|
|
Provisions |
|
5780.400 |
4336.000 |
|
Total
Current Liabilities |
|
23105.000 |
21560.8000 |
|
|
Net Current Assets |
|
27930.900 |
25728.600 |
|
|
|
|
|
|
|
|
TOTAL |
|
67432.400 |
63332.500 |
|
FIXED ASSETS
v Goodwill
v Freehold Land
v Leasehold Land
v Building
v Plant and
Machinery
v Computer
v Software
v Furniture and
Fittings
v Vehicles
PRESS RELEASE
HCL Technologies Launches CataLOG™
The one-stop Supply Chain Platform for SME’s powered by
eBizNET Solutions
Sunnyvale,
CA/Noida, India – February 17, 2011 – HCL Technologies, a leading
global IT services provider today announced
the launch of CataLOG™, a one-stop Supply Chain platform , jointly developed
with eBizNET Solutions Inc. , a leading provider of software-as-a-service
(SaaS) supply chain execution solutions. This innovative solution will cater to
the unique business needs of the SME segment across the supply chain ecosystem
by offering a basket of pre-configured services on a subscription based model.
CataLOG™
is a web-based platform that can be seamlessly accessed by users across the
world. The solution ensures a high degree of visibility and transparency into
operations as demanded by customers, by leveraging the benefits of a hosted
offering along with flexible billing and pricing models.
“We
are delighted to launch CataLOG™ as part of our Supply Chain services
portfolio”, says Amit Gupta, Vice President and Global Head, Transportation
Vertical at HCL Technologies. “While the logistics industry recovers from a
downturn, companies today face the challenge of tight budgets and limited
resources for technology investment. Our ‘One Stop Supply Chain Platform’ enables customers to focus on their core business, paying
only for services that they need, with minimal capital investment.”
“CataLOG™
enables significant reduction of freight and operational costs by leveraging
eBizNET’s expertise in distribution, transportation, reverse logistics &
aftermarket services,” said Sitaram Geddam, Founder and CTO, eBizNET
Solutions. “Further aided with flexible pricing models, the scalable
solution will help customers optimize resource utilization and maximize
business.”
CataLOG™
is powered by the in-depth logistics expertise of HCL and a proven, scalable,
supply chain execution layer from eBizNET Solutions. Importantly, CataLOGTM
provides SME customers with a ready-to-go, on-demand, supply chain solution
that is completely flexible, can scale up to varying business complexity and be
made operational in less than a month.
About
HCL Technologies
HCL
Technologies is a leading global IT services company, working with clients in
the areas that impact and redefine the core of their businesses. Since its
inception into the global landscape after its IPO in 1999, HCL focuses on
„transformational outsourcing, underlined by innovation and value creation, and
offers integrated portfolio of services including software-led IT solutions,
remote infrastructure management, engineering and R&D services and BPO. HCL
leverages its extensive global offshore infrastructure and network of offices
in 26 countries to provide holistic, multi-service delivery in key industry
verticals including Financial Services, Manufacturing, Consumer Services,
Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee
First’ which empowers our 72,267 transformers to create a real value for the customers.
HCL Technologies, along with its subsidiaries, had consolidated revenues of US$
3.1 billion (Rs. 14,101 crores), as on 31st December 2010 (on LTM basis).
About
HCL
HCL is
a $5.7 billion leading global technology and IT enterprise comprising two
companies listed in India - HCL Technologies and HCL Info systems. Founded in
1976, HCL is one of India's original IT garage start-ups. A pioneer of modern
computing, HCL is a global transformational enterprise today. Its range of
offerings includes product engineering, custom & package applications, BPO,
IT infrastructure services, IT hardware, systems integration, and distribution
of information and communications technology (ICT) products across a wide range
of focused industry verticals. The HCL team consists of over 79,000
professionals of diverse nationalities, who operate from 31 countries including
over 500 points of presence in India. HCL has partnerships with several leading
global 1000 firms, including leading IT and technology firms.
About eBizNET
Solutions
eBizNET
Solutions offers an integrated suite of on-demand SaaS Supply Chain Execution
(SCE) solutions including warehouse management, transportation management, yard
management, port and cargo terminal management, activity based billing and
costing, and reverse logistics. Its customers include Fortune 500 companies
located worldwide. eBizNET Solutions is a leading provider of SaaS Supply Chain
Execution Solutions and has its presence in North America and Asia Pacific.
With a proven footprint across Retail, 3PL, Automotives, Pharma, Food &
Beverages and High Technology, the company offers an array of unique solutions
as part of its robust and integrated eBizNET – Supply Chain Suite in a SaaS or
On-Demand environment for supply chain communities, supporting all the trading
partners in the ecosystem. eBizNET is a cloud partner of NetSuite and SPS
Commerce.
Forward-looking
Statements
Certain statements in this release are forward-looking statements,
which involve a number of risks, uncertainties, assumptions and other factors
that could cause actual results to differ materially from those in such
forward-looking statements. All statements, other than statements of historical
fact are statements that could be deemed forward looking statements, including
but not limited to the statements containing the words 'planned', 'expects',
'believes’, ‘strategy', 'opportunity', 'anticipates', 'hopes' or other similar
words. The risks and uncertainties relating to these statements include, but
are not limited to, risks and uncertainties regarding impact of pending
regulatory proceedings, fluctuations in earnings, our ability to manage growth,
intense competition in IT services, Business
Process Outsourcing and consulting services including those factors which
may affect our cost advantage, wage increases in India, customer acceptances of
our services, products and fee structures, our ability to attract and retain
highly skilled professionals, our ability to integrate acquired assets in a
cost effective and timely manner, time and cost overruns on fixed-price,
fixed-time frame contracts, client concentration, restrictions on immigration,
our ability to manage our international operations, reduced demand for
technology in our key focus areas, disruptions in telecommunication networks,
our ability to successfully complete and integrate potential acquisitions, the
success of our brand development efforts, liability for damages on our service
contracts, the success of the companies /entities in which we have made strategic
investments, withdrawal of governmental fiscal incentives, political
instability, legal restrictions on raising capital or acquiring companies
outside India, and unauthorized use of our intellectual property, other risks,
uncertainties and general economic conditions affecting our industry. There can
be no assurance that the forward looking statements made herein will prove to
be accurate, and issuance of such forward looking statements should not be
regarded as a representation by the Company, or any other person, that the
objective and plans of the Company will be achieved. All forward looking
statements made herein are based on information presently available to the
management of the Company and the Company does not undertake to update any forward-looking
statement that may be made from time to time by or on behalf of the Company.
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] 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.45.18 |
|
|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.61.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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.