Business
information report
1. Summary Information
|
|
|
Country |
|
|
Company Name |
HEWLETT PACKARD INDIA SALES PRIVATE LIMITED |
Principal Name 1 |
Mr. Sunil Dutt |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Neelam Dhawan |
|
|
|
Registration # |
08-022727 |
|
Street Address |
24 Salarpuria Arena, |
||
|
Established Date |
02.09.1997 |
SIC Code |
-- |
|
Telephone# |
91-80-25633555 / 23374785 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-80-25633222 / 51108014 |
Business Style 2 |
Importers |
|
Homepage |
Product Name 1 |
Processors |
|
|
# of employees |
700 |
Product Name 2 |
Hardware |
|
Paid up capital |
Rs.
1984,533,000/- |
Product Name 3 |
Software |
|
Shareholders |
Compaq Computers Corporation ( |
Banking |
HDFC Bank |
|
Public Limited Corp. |
No |
Business Period |
14 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A (62) |
|
Related
Company |
|||
|
Relation – |
Country - |
Company
Name |
CEO |
|
Holding Company |
|
Compaq Computer |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
39,985,096,000 |
Current Liabilities |
37,343,003,000 |
|
Inventories |
14,474,841,000 |
Long-term Liabilities |
7,726,000 |
|
Fixed Assets |
1,105,578,000 |
Other Liabilities |
0 |
|
Deferred Assets |
360,000,000 |
Total Liabilities |
37,350,729,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
16,590,253,000 |
|
|
|
Net Worth |
18,574,786,000 |
|
Total Assets |
55,925,515,000 |
Total Liab. & Equity |
55,925,515,000 |
|
Total Assets (Previous Year) |
|
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales (Turn Over) |
76,890,173,000 |
Net Profit |
6,962,945,000 |
|
Sales(Previous yr) |
60,165,237,000 |
Net Profit(Prev.yr) |
2,131,875,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
HEWLETT PACKARD INDIA SALES PRIVATE LIMITED |
|
|
|
|
Formerly Name: |
COMPAQ COMPUTER ( |
|
|
|
|
Registered Office : |
24 Salarpuria Arena, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
02.09.1997 |
|
|
|
|
Com. Reg. No.: |
08-022727 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200KA1997PTC022727 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRH2830C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACC9862F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Importers and Exporters of computer systems, processors, hardware and software, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 74300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Office : |
24 Salarpuria Arena, |
|
Tel. No.: |
91-80-25633555 / 23374785 |
|
Fax No.: |
91-80-25633222 / 51108014 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Sunil Dutt |
|
Designation : |
Director |
|
Address : |
E-204, |
|
Date of Birth/Age : |
14.10.1960 |
|
Date of Appointment : |
30.11.2009 |
|
DIN No.: |
02881786 |
|
|
|
|
Name : |
Mr. Ravindra Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
J-6/ 151,
Rajouri, |
|
Date of Birth/Age : |
27.03.1952 |
|
Date of Appointment : |
13.08.2009 |
|
DIN No.: |
02734860 |
|
|
|
|
Name : |
Mr. Narayan
Vasudeo Prabhu Tendulakar |
|
Designation : |
Whole-time
Director |
|
Address : |
J 73, Diamond
District, |
|
Date of Birth/Age : |
22/12/1957 |
|
Date of Appointment : |
01/07/2004 |
|
Email : |
|
|
DIN No.: |
00869913 |
|
|
|
|
Name : |
Mr. Ravi
Swaminathan |
|
Designation : |
Additional
Director |
|
Address : |
N2/16, DLF, Qutab
Enclave, Phase II, Gurgaon – 122002, |
|
Date of Birth/Age : |
03.03.1953 |
|
Date of Appointment : |
05.02.2007 |
|
Date of Cessation: |
30.11.2009 |
|
Email : |
|
|
DIN No.: |
01508930 |
|
|
|
|
Name : |
Mrs. Neelam
Dhawan |
|
Designation : |
Director |
|
Address : |
Door No. 100,
Sector 26, Noida-201301, |
|
Date of Birth/Age : |
22.10.1959 |
|
Date of Appointment : |
21.08.2008 |
|
Din No.: |
00871445 |
KEY EXECUTIVES
|
Name : |
Mr. Sriram Mohan |
|
Designation : |
Company Secretary |
|
Date of Birth/Age : |
18.03.1983 |
|
Date of Appointment : |
28.04.2010 |
|
PAN.: |
AQMPM7478A |
|
|
|
|
Name : |
Mr. Sahana Rao |
|
Designation : |
Company Secretary |
|
Date of Birth/Age : |
02.09.1983 |
|
Date of Appointment : |
14.12.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Compaq Computers
( |
198453322 |
|
Hewlett-Packard |
11 |
|
|
|
|
Total |
198453333 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers and Exporters of computer systems, processors, hardware and software, etc. |
|
|
|
|
Products and Services : |
As on 31.03.2009 · Computer Systems · Processors ·
Hardware ·
Software ·
Monitors ·
Storage ·
Servers ·
Software |
|
|
|
|
Imports : |
|
|
Products : |
As on 31.03.2009
|
|
Countries : |
As on 31.03.2009
|
|
|
|
|
Exports : |
|
|
Countries : |
|
PRODUCTION STATUS
AS ON 31.03.2009
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Computer Systems |
Nos. |
5652000 |
557485 |
Notes:
- Installed
capacity has been stated on the basis of the total annual installed capacity
as at the Balance Sheet date. The installed capacity is as certified by
the Management and being a technical matter has been relied upon by the
auditors.
- Computer
Systems include desktops, laptops and handheld devices.
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||
|
|
|
|||||||||
|
Customers : |
|
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
700 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facility : |
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
12th and 13th floor, “UB City” Canberra Block No. 24, Vittall Mallya Road, Bangalore-560001, Karnataka, India |
|
|
|
|
Ultimate Holding Company : |
As on 31.03.2009 Hewlett Packard Company, |
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
198453333 |
Equity Shares |
Rs 10/- each |
Rs. 1984.533 millions |
Note: -
198453333 (2009:- 198453333) Equity shares of
Rs. 10 each fully paid up of the above 198453322 (2009: 198453322) Equity
Shares are held by Compaq Computer Mauritius, the holding company and 11
(2009:11) Equity shares are held by Hewlett. Packed
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1984.533 |
1984.533 |
1984.533 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16590.253 |
9773.959 |
7758.174 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18574.786 |
11758.492 |
9742.707 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.726 |
49.414 |
112.160 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
94.381 |
|
|
TOTAL BORROWING |
7.726 |
49.414 |
206.541 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18582.512 |
11807.906 |
9949.248 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1105.578 |
1239.343 |
1369.070 |
|
|
Capital work-in-progress |
0.000 |
1.478 |
4.449 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
360.000 |
695.000 |
715.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14474.841
|
16052.523
|
12864.892
|
|
|
Sundry Debtors |
14315.178
|
15152.106
|
12481.812
|
|
|
Cash & Bank Balances |
21659.421
|
9577.336
|
7819.632
|
|
|
Other Current Assets |
474.567
|
515.311
|
442.058
|
|
|
Loans & Advances |
3535.930
|
3144.323
|
2427.160
|
|
Total
Current Assets |
54459.937
|
44441.599
|
36035.554 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
31019.390
|
29870.609
|
24581.652
|
|
|
Other Liabilities |
472.871
|
407.277
|
379.616
|
|
|
Provisions |
5850.742
|
4291.628
|
3213.557
|
|
Total
Current Liabilities |
37343.003
|
34569.514
|
28174.825
|
|
|
Net Current Assets |
17116.934
|
9872.085
|
7860.729
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18582.512 |
11807.906 |
9949.248 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
60165.237 |
61145.549 |
|
|
|
Other Income |
|
11409.068 |
13168.950 |
|
|
|
TOTAL (A) |
76890.173 |
71574.305 |
74314.499 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Cost of goods Sold and Services |
|
54873.992 |
59548.644 |
|
|
|
Operating and Other Expenses |
|
12449.212 |
11324.641 |
|
|
|
TOTAL (B) |
NA |
67323.204 |
70873.285 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
4251.101 |
3441.214 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
59.068 |
58.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11137.205 |
4192.033 |
3383.170 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
400.220 |
442.418 |
481.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10736.985 |
3749.615 |
2901.415 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
3774.040 |
1617.740 |
1134.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
6962.945 |
2131.875 |
1766.798 |
|
|
|
|
|
|
|
|
|
Add |
|
|
7710.062 |
5943.264 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
|
99.227 |
0.000 |
|
|
|
Tax on Dividend |
|
16.863 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
9725.847 |
7710.062 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FO B Value of Export |
|
0.000 |
155.417 |
|
|
|
Service Income |
|
20.573 |
90.714 |
|
|
|
Commission Earnings |
|
1621.723 |
4780.062 |
|
|
|
Miscellaneous Service Income |
|
394.165 |
749.583 |
|
|
TOTAL EARNINGS |
|
2036.461 |
5775.776 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
|
32916.909 |
41716.660 |
|
|
|
Raw Materials |
|
7977.538 |
6672.418 |
|
|
|
Stores & Spares
|
|
2493.261 |
1852.044 |
|
|
|
Capital Goods |
|
15.503 |
20.546 |
|
|
TOTAL IMPORTS |
NA |
43403.211 |
50261.668 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
35.09 |
10.74 |
8.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.05
|
2.98
|
2.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
6.23
|
4.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.32
|
8.21
|
7.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.32
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.01
|
2.94
|
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.28
|
1.28 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Registered office of the company has been shifted from
Nature of Operations:
Subject was
incorporated on September 2nd 1997 as a Private Limited company
under the Companies Act, 1956. The Company is a subsidiary of Compaq Computers,
Financial Review:
The year under review saw a growth of 7.5% in
the sales turnover at Rs. 7689.000 Millions as against Rs. 71570.000 Millions
of the previous year. The company has recorded a net profit after tax of Rs.
6960.000 Millions during the year as compered to Rs. 2130.000 Millions of the
previous year recording an improvement of 26.6%.
There has been a thrust on reduction in
borrowings during the period and there was a reduction of debt to the tune of
Rs. 41.600 Millions. This has been achieved by all round improvement in sales
and better cash management. Reduction in debt has resulted in interest savings
of Rs. 37.300 Millions
Fixed assets
- Land – Freehold
- Buildings
- Leasehold Improvements
- Plant and machinery
- Computer Equipment
- Office Equipment
- Furniture and Fittings
- Land
- Vehicles
- Goodwill
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.44.34 |
|
|
1 |
Rs.73.69 |
|
Euro |
1 |
Rs.65.75 |
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 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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.