MIRA
INFORM REPORT
|
Report Date : |
05.01.2011 |
Note: Given
address could not be confirmed.
IDENTIFICATION DETAILS
|
Name : |
LARSEN AND TOUBRO INFOTECH LIMITED |
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Formerly Known
As : |
L AND T INFORMATION TECHNOLOGY LIMITED
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Registered
Office : |
L and T House, Ballard Estate, Mumbai-400001, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
23.12.1996 |
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Com. Reg. No.: |
11-104693 |
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CIN No.: [Company Identification
No.] |
U72900MH1996PLC104693 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUML04432B |
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PAN No.: [Permanent Account No.] |
AAACL1681P |
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Legal Form : |
A closely held Public Limited Liability Company. |
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Line of Business
: |
Providing Global IT Services and Solutions. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
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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 |
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Maximum Credit Limit : |
USD 23000000 |
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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 company having fine track. Trade relations
are reported as fair. Business is active. Payments are reported to be
regular. 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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Vinay |
|
Designation : |
Accountant |
|
Date : |
21.09.2010 |
LOCATIONS
|
Registered Office : |
L and T House, Ballard Estate, Mumbai-400001, |
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Tel. No.: |
91-22-67525656 |
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Fax No.: |
91-22-67525858 |
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E-Mail : |
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Branches : |
Located At:
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Overseas Office: |
Located At |
DIRECTORS
As on 18.08.2009
|
Name : |
Mr. Anilkumar Manibhai
Naik |
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Designation : |
Director |
|
Address : |
High Trees, 54, Pali Hill, Bandra (West), Mumbai-400050, |
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Date of Birth/Age : |
09.06.1942 |
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Date of Appointment : |
23.12.1996 |
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Name : |
Mr. Yeshwant Moreshwar
Deosthalee |
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Designation : |
Director |
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Address : |
1001, Prabhu Kutir,
15, |
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Date of Birth/Age : |
06.09.1946 |
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Date of Appointment : |
23.12.1996 |
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Name : |
Mr. Ram Nath Mukhija
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Designation : |
Director |
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Address : |
501, |
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Date of Birth/Age : |
05.02.1944 |
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Date of Appointment : |
13.08.2004 |
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Name : |
Mr. Vijay Kumar Magapu |
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Designation : |
Director |
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Address : |
402, |
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Date of Birth/Age : |
12.06.1945 |
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Date of Appointment : |
13.08.2004 |
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Name : |
Mr. Samir Thakorbhai
Desai |
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Designation : |
Director |
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Address : |
7050 NW, 126 Terrace, |
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Date of Birth/Age : |
26.08.1946 |
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Date of Appointment : |
27.01.2007 |
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Name : |
Mr. Rama S. Iyer |
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Designation : |
Director |
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Address : |
Flat No. 32, Rashmi Swarna,
Kutir Premises Co-Operative Society, Demonte |
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Date of Birth/Age : |
19.08.1939 |
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Date of Appointment : |
25.10.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Kumar Magapu |
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Designation : |
Manager |
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Address : |
402, |
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Date of Birth/Age : |
12.06.1945 |
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Date of Appointment : |
22.02.2001 |
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Name : |
Mr. Shekhar Sharad
Prabhudesai |
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Designation : |
Secretary |
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Address : |
8, Asmani, |
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Date of Birth/Age : |
13.03.1970 |
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Date of Appointment : |
19.03.2001 |
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Name : |
Mr. Vinay |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.08.2009
|
Names of Shareholders |
|
No. of Shares |
|
Larsen and Toubro Limited, |
|
29999988 |
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Larsen and Toubro Limited, |
|
2250000 |
|
Naik Manibhai Anilkumar and Larsen and Toubro
Limited, |
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2 |
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Deosthalee Moreshwar Yeshwant and Larsen and Toubro
Limited, |
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2 |
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Nayak Pandurang Jagdish and Larsen and Toubro
Limited, |
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2 |
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Mukhija Nath Ram and
Larsen and Toubro Limited, |
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2 |
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Krishnamurthi Venkataramanan and Larsen and Toubro
Limited, |
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2 |
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Magapu Apparao Vijaykumar and La Larsen and Toubro
Limited, |
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2 |
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Total |
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32250000 |
As on 18.08.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Global IT Services and Solutions. |
GENERAL INFORMATION
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Customers: |
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No. of Employees : |
60000 (Approximately) (Confirmed by the Operator) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Firdosh D. Buchia
Chartered Accountant |
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Address : |
Ravindra Annexe, 194, Churchgate Reclamation, |
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Holding Company: |
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Fellow Subsidiary: |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 18.08.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32750000 |
Equity Shares |
Rs.5/- each |
Rs.163.750 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32250000 |
Equity Shares |
Rs.5/- each |
Rs.161.250
Millions |
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32750000 |
Equity Shares |
Rs.5/- each |
Rs.163.750 Millions |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32250000 |
Equity Shares |
Rs.5/- each |
Rs.161.250
Millions |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.5/- each |
Rs.150.000
Millions |
|
2250000 |
Equity Shares |
Rs.5/- each |
Rs.8.437
Millions |
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Total |
|
Rs.158.437 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
158.437 |
157.200 |
154.950 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5738.208 |
5370.882 |
3173.180 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5896.645 |
5528.082 |
3328.130 |
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LOAN FUNDS |
|
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|
|
|
1] Secured Loans |
1221.801 |
993.534 |
876.392 |
|
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2] Unsecured Loans |
0.655 |
1.988 |
4.531 |
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TOTAL BORROWING |
1222.456 |
995.522 |
880.923 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED PURCHASE CONSIDERATION PAYABLE |
342.360 |
423.343 |
652.050 |
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|
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TOTAL |
7461.461 |
6946.947 |
4861.103 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
1647.753 |
1552.138 |
1311.637 |
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Capital work-in-progress |
67.229 |
26.722 |
63.282 |
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INVESTMENT |
2229.275 |
1918.433 |
1227.263 |
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DEFERREX TAX ASSETS |
7.404 |
16.982 |
5.786 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
|
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Sundry Debtors |
4161.961
|
3489.292 |
2793.398 |
|
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Cash & Bank Balances |
1115.417
|
538.052 |
304.981 |
|
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Other Current Assets |
624.513
|
500.215 |
0.000 |
|
|
Loans & Advances |
2224.937
|
1735.942 |
1257.022 |
|
Total
Current Assets |
8126.828
|
6263.501 |
4355.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3495.083
|
1386.043 |
|
|
|
Other Current Liabilities |
294.156
|
489.130 |
1666.924 |
|
|
Provisions |
827.789
|
955.656 |
435.342 |
|
Total
Current Liabilities |
4617.028
|
2830.829 |
2102.266 |
|
|
Net Current Assets |
3509.800
|
3432.672 |
2253.135 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7461.461 |
6946.947 |
4861.103 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19508.381 |
16494.636 |
12780.832 |
|
|
|
Other Income |
245.246 |
81.324 |
33.752 |
|
|
|
TOTAL (A) |
19753.627 |
16575.960 |
12814.584 |
|
|
|
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|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Salaries, wages and bonus |
9126.832 |
7698.157 |
6500.444 |
|
|
|
Payment of auditors |
2.550 |
2.063 |
1.142 |
|
|
|
Insurance expenses |
28.900 |
36.849 |
34.194 |
|
|
|
Power and fuel |
226.449 |
188.672 |
129.440 |
|
|
|
Other expenditure |
6938.236 |
5822.971 |
4086.629 |
|
|
|
TOTAL (B) |
16322.967 |
13748.713 |
10751.849 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3430.660 |
2827.247 |
2062.735 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.806 |
25.720 |
29.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3347.854 |
2801.527 |
2033.493 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
453.590 |
372.519 |
328.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2894.264 |
2429.008 |
1705.137 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
246.046 |
317.723 |
193.816 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2648.218 |
2111.285 |
1511.321 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2995.992 |
1287.750 |
547.529 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim dividend |
158.027 |
0.000 |
150.055 |
|
|
|
Proposed final dividend |
0.000 |
156.454 |
0.000 |
|
|
|
Tax on dividend |
26.857 |
26.589 |
21.045 |
|
|
|
Transfer to general reserve |
289.225 |
220.000 |
600.000 |
|
|
BALANCE CARRIED
TO THE B/S |
5170.101 |
2995.992 |
1287.750 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software Exports |
19000.029 |
15232.742 |
NA |
|
|
|
Other Earnings |
110.373 |
14.130 |
NA |
|
|
TOTAL EARNINGS |
19110.402 |
15246.872 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
95.129 |
383.250 |
NA |
|
|
|
Others |
39.829 |
22.457 |
NA |
|
|
TOTAL IMPORTS |
134.958 |
405.707 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
83.79 |
67.48 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
13.41
|
12.74 |
11.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.84
|
14.73 |
13.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.61
|
31.08 |
30.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49
|
0.44 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.95
|
0.69 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
1.82 |
2.07 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2009 (Rs.
in millions) |
31.03.2008 (Rs.
in millions) |
|
Sundry Creditors |
3495.083
|
1386.043 |
Bankers Charges Report
as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90164342 |
|
Corporate
identity number of the company |
U72900MH1996PLC104693 |
|
Name of the
company |
LARSEN AND TOUBRO
INFOTECH LIMITED |
|
Address of the
registered office or of the principal place of business in |
L and T House, Ballard Estate, Mumbai-400001, |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Corporation Bank, Veena Chambers, 21 Dalal Street, Mumbai-400026, |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
Common Deed of hypothecation of Movable Assets dated April 25, 2010 entered between Larsen
and Toubro Infotech
Limited and the Corporation Bank stating modified terms. |
|
Date of
instrument Creating the charge |
25.04.2010 |
|
Amount secured by
the charge |
Rs.250.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.5% Terms of
Repayment Repayment made
shall be appropriated towards - Firstly towards
the reimbursement of the costs/expenses incurred by the bank - Secondly
towards the interest in arrears - Lastly towards
principal amount Extent and
Operation of the charge Exclusive first charge
created on movable fixed assets of the Company to the extent of Rs. 250.000 Millions only. |
|
Short particulars
of the property charged |
Movable fixed
assets to the extent of Rs 250.000 Millions. |
|
Date of latest modification
prior to the present modification |
19.03.2003 |
|
Particulars of
the present modification |
By this
modification the Company has been granted additional facilities of Rs. 105.000 Millions
thereby increasing the total facilities to Rs.
250.000 Millions from existing Rs. 145.000 Millions
|
Fixed Assets:
- Buildings
- Plant and
Machinery
- Computers
- Furniture and
Fixtures
- Vehicles
- Software
- Business
Rights
AS PER WEBSITE
DETAILS:
OVERVIEWS:
Subject is a global IT services and solutions provider. They provide the
winning edge to their clients by leveraging their Business-to-IT Connect and
deeply committed people. Their clients include industry leaders like Chevron, Freescale,
Their parent company is Larsen
and Toubro Limited
(L and T), a technology, engineering, manufacturing and construction
conglomerate, with global operations. This rich corporate heritage has given us
many inherent advantages that we translate into tangible benefits for their
clients.
BOARD OF
DIRECTORS:
A M Naik
Land T: Chairman and Managing
Director
Land T Infotech: Chairman
Mr. A.M. Naik mirrors the values of the organizations
he heads - professionalism, dynamism and high ethical values. He joined Land T
as a Junior Engineer in 1965, and was rapidly given positions of increasing
responsibility. He was appointed Managing Director and Chief Executive Officer of Land T on April
28, 1999. On December 30, 2003, he was appointed Chairman and Managing Director
of Land T. He successfully led the Company through some of its most challenging
times, and enabled it to emerge stronger each time.
His broad global perspective has seen the Company expand its horizons beyond
domestic borders, and position itself to become a global player.
Mr. A.M. Naik heads an organisation
that is among the most admired companies in
Y M Deosthalee
Land T: Whole-time Director and Chief Financial Officer
Land T Infotech: Director
Mr. Y.M. Deosthalee is a qualified Chartered
Accountant and holds a degree in law. He joined Larsen and Toubro Limited in
1974 and has been with the company since then. In March 1995, he was appointed
on the Board of Directors of Larsen and Toubro Limited as Sr.Vice
President (Finance). He is currently designated as the Chief Financial Officer
of the Company. His portfolio includes Finance and Accounts, Personnel and HR and Information Technology.
Mr. Deosthalee is also on the Board of several
Subsidiary and Associate Companies of
the Land T Group of Companies. He is the the Founding
Trustee of the newly formed Land T Public Charitable Trust, a major CSR
initiative of the Company.
R
Land T: Whole-time Director and
President (Electrical and Electronics)
Land T Infotech: Director
Mr. R. N. Mukhija is President (Operations) and Member of the Board of Larsen and Toubro Limited,
Mumbai. As a whole time director on the board, he is involved in policies and
strategy formulation, projecting Land T's capabilities to external
stakeholders, business community and society, liaison with Government agencies
at Ministerial level for policies affecting Land T. He is a member of the
Investors' Grievance Committee.
He is in-charge of the company's Electrical and
Electronics Division, which has six Businesses namely Electrical
Standard Products (ESP), Electrical Systems and
Equipment (ESE), Petroleum Dispensing Pumps (PDP), Metering and Protection Systems (MPS), Medical Equipment
and Systems (MED), and Control and Automation (Cand
A). These business units are located in different locations like Mumbai,
As the head of the Electrical and
Electronics Division, he is involved in strategy formulation and
ensuring implementation of periodic plans. He is presently steering the
Division to a high growth path with an emphasis on exports, performance excellence,
HR initiatives and IT strategy. For most
of the businesses, leadership position and
high Brand Equity have been created in the domestic market where he has
played and continues to play a
significant role.
V. K. Magapu
Land T: Whole-time Director and
Senior Executive Vice President (IT and
Technology services)
Land T Infotech: Director
Mr.
Vijay Kumar Magapu, Whole-time Director and Member of the Board, Larsen and Toubro Limited
(Land T), is a Director of Larsen and Toubro Infotech Limited , the
wholly-owned subsidiary of Land T.
Under his leadership, Land T Infotech adopted an
aggressive business development drive that resulted in key strategic alliances
and the establishment of multiple Offshore Development Centers for global
clients. Mr. Magapu was also responsible for several
initiatives to secure quality certifications and assessment levels that are
among the most sought after in the IT industry.
In his capacity as Land T's Chief Information Officer and e-Commerce Officer,
Mr. Magapu helped to devise and implement IT strategies
across the Company.
Mr. Magapu joined Land T as a Graduate Engineer
Trainee in 1966, and rapidly rose to assume positions of responsibility in
materials management, production planning, design and various functions in
marketing. In 1985, Mr. Magapu took charge of Land
T's newly set up Hazira Works and oversaw the
development and expansion of this heavy engineering complex. Later, he was
elevated to the post of Executive Vice President responsible for the Company's
power project business before being appointed Chief Executive of Larsen
and Toubro Infotech Limited in
the year 2000.
An alumnus of IIT, Chennai, Mr. Magapu holds a
Masters Degree in Mechanical Science from the University of Calgary, Canada. He
possesses valuable international experience in various roles such as
international marketing, HRD and personnel and technology consulting.
S T Desai
Independent Director
Samir T. "Sam" Desai was with Motorola
for more than 30 years. He has served as Senior Vice President and General
Manager for iDEN Networks and Devices, which includes
iDEN mobile devices and iDEN
Infrastructure, under Motorola's Network Business.
As General Manager, Mr. Desai provided senior leadership and focus for the iDEN business and its relationships with its carrier customers.
This appointment was a continuance of Mr. Desai's successful history with
Motorola's iDEN business, which he founded in the
early 1990's. Mr. Desai was instrumental in growing the business to what it is
today and forming its strategic partnership with Nextel. iDEN
technology is used by Nextel and other carriers, including
Mr. Desai served as Motorola's Chief Information Officer from 2002 to 2004 and
Senior Vice President and deputy to the President of the Motorola Personal
Devices Business from 2001 to 2002. As CIO, Mr. Desai was responsible for
driving an aggressive three-pronged strategy to increase efficiency,
effectiveness, and technology transformation. In just one year, Mr. Desai's
three-pronged strategy led to a 50 percent efficiency increase in operating
budget and established a standard across the enterprise and governance
structure within Motorola's Information Technology. Furthermore, under Mr.
Desai's leadership, the Personal Devices Business experienced tremendous growth
and stability with improved engineering and quality performance while
successfully shipping a vast number of Platform 2000 products.
Dr. S R Iyer
Independent Director
Dr. S. Rama Iyer has four
decades of involvement with Process Technology, Design Engineering, Project
Management and Construction Management of large projects both in
He brings with him vast experience in providing IT enabled engineering services
for major projects both in
He joined Davy Powergas
He is also credited for building a young team by employing and training
graduate engineers from mid eighties.
An alumnus of IIT, Mumbai, Dr. Iyer holds a degree in
Chemical Engineering and has completed his M.Tech and
Ph.D from IIT Mumbai.
Besides being a recipient of the 'Distinguished Alumnus' award of IIT Mumbai, Dr.Iyer has been honoured with an
'Achiever of the year' award by Chemtech Foundation
in 2003 and 'Business Leader of the year' award by Chemtech
Foundation in 2005. In addition to Land
T Infotech, Dr. Iyer has
been associated with several other companies in the capacity of Director and
Chairman.
News:
Land
T Infotech completes Interoperability Tests of LTE-UE
with Trillium eNodeB software
Bengaluru, August 18, 2010: Land T Infotech
announced today that its LTE User Equipment (UE) Stack has successfully been
validated in interoperability tests (IOT) with Trillium® LTE eNodeB software from Continuous Computing®, the global
provider of integrated platform solutions that address the mobile broadband
capacity challenge.
LTE or Long Term Evolution, is a new high performance air interface
standard for cellular mobile communication systems. It is the last step towards
the 4G generation of radio technologies and is aimed to be the successor to the
current 3G technologies like UMTS. The LTE-UE Stack is intended for devices
such as standalone/multi-mode or tethered mode wireless handsets, data cards,
USB wireless modems, laptops and ultra mobile PCs.
Land T Infotech had previously announced the
availability of the LTE-UE protocol stack, compliant to March 2009 3GPP Release
8 LTE specifications, as part of their IP portfolio. The LTE UE solution
supports both TDD and FDD (time and frequency division duplexing)
modes of operation and is verified for UE conformance by using the TTCN3 work
bench. The stack offers complete L2 and L3 protocol layers with ATCMD support
for application integration.
The LTE-UE offering comes from Land T Infotech‟s
Product Engineering Services Business Unit. With strong focus on Access
(wireless, wireline), Transport, Core Networks and
Services Layer, Land T Infotech offers product development support for clients and
partners to meet time-to-market requirements. Some key services offerings
include CDMA 2000, 1X, EVDO, UMTS, xG-PHS, WiMAX and LTE network infrastructure development ranging
from system engineering and protocol stack development to product
re-engineering and field support services. L and T Infotech
also provides end-to-end software services to handset OEMs, ODMs,
semiconductor vendors, ISVs, mobile entertainment and media companies and operators. The company‟s expertise cuts across all the layers of mobile
devices ranging from physical/ hardware layer, OS, device drivers, protocol
stacks, middleware components, MMI framework up to application layer.
The L and T Infotech LTE-UE and Trillium LTE eNodeB IOT included validation of end-to-end call scenarios
including both TDD and FDD variants of LTE. Continuous Computing‟s
LTE Core Network Emulators (CNE) served as the core network and the companies
successfully completed testing between the NAS (network access stratum)-level
messaging in the LTE-UE and the CNE‟s
Mobility Management Entity (MME) element. Based on this IOT activity, Land T Infotech and
Continuous Computing offer clients, a validated ecosystem that can help
accelerate early trials and deployments as well as ensure interoperability in
the early LTE marketplace.
“The successful validation of LTE-UE in Interoperability Tests with
award-winning Trillium LTE eNodeB software proves the
compliance of the LTE-UE Stack to the 3GPP release 8 standards. Continuous
Computing is the global leader in network access, edge and core protocol
software stacks and we are happy to have demonstrated interoperability with
their Trillium LTE product family.” says Mr. Isaac Sundarajan,
Executive Vice President and Head of Product Engineering Services (PES)
Business Unit, Land T Infotech. “This achievement further strengthens our
commitment to provide high-quality solutions in the telecom space and to enable
our clients deliver world-class products.”
“While the availability of LTE-based user equipment is limited in today‟s early LTE markets, we are committed to driving
interoperability between our Trillium LTE software and the entire UE
ecosystem,” said Mr. Manish Singh, Vice President of Product Line Management,
Continuous Computing. “L and T Infotech‟s
offering is aimed squarely at enabling a growing community of UE providers to
expedite their time-to-market capabilities and quickly take advantage of
emerging LTE market opportunities.”
About L and T Infotech
Larsen and Toubro
Infotech Limited (L and T Infotech),
one of the fastest growing IT Services companies, is ranked by NASSCOM among
the top software and services exporters
from
Ranked No. 5 globally among the Best IT Services Providers by Global
Services in 2009, we offer comprehensive, end-to-end software solutions and
services in the following industry verticals: Banking and Financial Services; Insurance; Energy
and Petrochemicals; Manufacturing
(Consumer Packaged Goods/ Retail, High-tech, Industrial Products, Automotive)
and Product Engineering Services (Telecom). Our new emerging verticals include
Media and Entertainment and Life
Sciences and Healthcare. We also
deliver business solutions to our clients in the following horizontals/Service
Lines: SAP, Oracle, Infrastructure Management Services, Testing, Consulting and
Business Process Services. Our other Service offerings are: Business Analytics,
Legacy Modernization, Applications Outsourcing, Architecture Consulting, PLM
and Service Oriented Architecture.
L and T Infotech
and PROS announce Global Strategic Partnership
PROS expands partner ecosystem with leading
international systems Integrator
Houston/Mumbai, July 27, 2010: Larsen and
Toubro Infotech
Limited (Land T Infotech),
a leading international systems integrator headquartered in Mumbai, India, and
PROS, the world leader in business-to-business pricing and margin optimization
software, have announced a global strategic partnership agreement. The
partnership will combine L and T Infotech‟s deep domain expertise in SAP, Oracle and
Microsoft platforms with PROS advanced pricing technology to help clients
implement pricing solutions and strategies that drive growth, margins, and
agility.
“L and T Infotech and PROS have already joined
forces to successfully implement global pricing solutions,” said Mr. Sudip Banerjee, CEO of L and T Infotech. “Our formal partnership agreement is a natural
outgrowth of our successful relationship and enables each company to complement
the other’s strengths in providing leading pricing strategies
and solutions to clients throughout the world.”
L and T Infotech, a wholly owned subsidiary of
$9.8 billion, Larsen and Toubro Limited , is one of the top software services
exporters in
“This partnership continues to expand PROS‟ growing ecosystem
of outstanding partners to ensure that our solutions scale to meet customer
demands at a global level,” said Mr. Bert Winemiller,
Chairman and CEO of PROS. “It is strategic partnerships with integrators such
as L and T Infotech that enable us to continue
accelerating the time it takes for our customers to realize the value of our
technology and ensures that they maximize return on investment”
About L and T Infotech
Ranked No. five globally among the Best IT Services Providers by Global
Services in 2009, Larsen and Toubro Infotech Limited
(Land T Infotech)
offers comprehensive, end-to-end software solutions and services in the
following industry verticals: Banking and
Financial Services; Insurance; Energy and Petrochemicals; Manufacturing (Consumer
Packaged Goods/ Retail, High-tech, Industrial Products, Automotive) and Product
Engineering Services (Telecom). Its new emerging verticals include Media
and Entertainment and Life Sciences
and Healthcare. L and T Infotech also delivers business solutions to clients in the
following Horizontals/Service Lines: SAP, Oracle, Infrastructure Management
Services, Testing, Consulting and Business Process Services. L and T Infotech‟s other Service offerings are: Business Analytics,
Legacy Modernization, Applications Outsourcing, Architecture Consulting, PLM
and Service Oriented Architecture.
L and T Infotech is ranked by NASSCOM among
the top software and services exporters
from
About PROS
PROS Holdings, Inc. (NYSE: PRO) is a leading provider of pricing and
margin optimization software products, specializing in price analytics, price
execution, and price optimization. By using PROS' software products, companies
gain insight into their pricing strategies, identify pricing-based profit
leaks, optimize their pricing decision making and improve their business
processes and financial performance. PROS' software products implement advanced
pricing science, which includes operations research, forecasting and statistics.
PROS high performance software architecture supports real-time high volume
transaction processing and allows PROS to handle the processing and database
requirements of the most sophisticated and largest customers, including
customers with hundreds of simultaneous users and sub-second electronic
transactions.
PROS provides professional servicesto
configure its software products to meet the specific pricing needs of each
customer. PROS has implemented over 300 solutions across a range of industries
in more than 40 countries.
Founded in 1985, PROS is headquartered in
Forward-looking Statements
This press release contains forward-looking statements, including
statements about the functionality of the PROS products and their ability to
manage and forecast across an enterprise. The forward-looking statements
contained in this press release are based upon PROS' historical performance and
its current plans, estimates and expectations, and are not a representation
that such plans, estimates or expectations will be achieved. Factors that could
cause actual results to differ materially from those described herein include
PROS' ability to develop new products and product enhancements with the
required functionality desired and PROS' ability to implement and support
successfully its products to the expectations of its customers. Additional information
relating to the uncertainty affecting the PROS business is contained in PROS'
filings with the Securities and Exchange Commission. These forward-looking
statements represent PROS' expectations as of the date of this press release.
Subsequent events may cause these expectations to change, and PROS disclaims
any obligations to update or alter these forward-looking statements in the
future, whether as a result of new information, future events or otherwise.
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.44.84 |
|
|
1 |
Rs.69.32 |
|
Euro |
1 |
Rs.59.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
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 |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.