MIRA
INFORM REPORT
|
Report Date : |
10.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDIAMART INTERMESH LIMITED |
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|
Registered Office : |
408, Ashirwad Enclave, 104, I.P. Extension, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
13.09.1999 |
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Com. Reg. No.: |
55-101534 |
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Capital
Investment / Paid-up Capital : |
Rs.581.690 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1999PLC101534 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELI03105E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business : |
The company is engaged in providing consolidated services of designing, hosting and promotion of web catalogues and hosting of web pages, renewals of web catalogues, web advertisement and software development. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3175000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track records. There
appears some losses being incurred by the company in current year. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be for business dealings with some cautions. |
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 |
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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 : |
408, Ashirwad Enclave, 104, I.P. Extension, |
|
Tel. No.: |
91-11-22050790/ 2200349 |
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E-Mail : |
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Website : |
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Head Office : |
B-1, Sector-8, Noida – 201301, |
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Tel. No.: |
91-120-22424945/ 22543946/ 23094634 |
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Fax No.: |
91-120-22424943 |
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E-Mail : |
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Branches : |
Located
at: ·
Ahmedabad ·
·
·
Chennai ·
·
Dehradun ·
·
·
Gurgaon ·
Hyderabad/Secunderabad ·
·
Jaipur ·
Jalandhar ·
·
·
Kolkata ·
·
·
Mumbai ·
Navi Mumbai ·
·
Pune ·
·
·
Tirupur ·
Thane ·
|
DIRECTORS
As on 30.08.2010
|
Name : |
Mr. Dinesh Chandra Agarwal |
|
Designation : |
Managing Director |
|
Address : |
408, Ashirwad Enclave, 104, I.P. Extension, |
|
Date of Birth/Age : |
19.02.1969 |
|
Qualification : |
Computer Software Engineer |
|
Experience : |
6 years in the field of networking with companies like AT
and T and Bank of America in the |
|
Date of Appointment : |
13.09.1999 |
|
|
|
|
Name : |
Mr. Brijesh Agarwal |
|
Designation : |
Whole Time Director |
|
Address : |
408, Ashirwad Enclave, 104, I.P. Extension, |
|
Date of Birth/Age : |
16.09.1976 |
|
Date of Appointment : |
13.03.1999 |
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|
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|
Name : |
Mr. Deep Kalra |
|
Designation : |
Director |
|
Address : |
J-6/11A, DLF Phase – II, Gurgaon – 122 001, |
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Date of Birth/Age : |
06.07.1969 |
|
Date of Appointment : |
01.09.2009 |
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|
|
|
Name : |
Mr. Nachiket Madhududan Mor |
|
Designation : |
Director |
|
Address : |
A-204, Kalpataru Horizon S.K. Ahire Marg, Worli, Mumbai - 400 025, |
|
Date of Birth/Age : |
26.02.1964 |
|
Date of Appointment : |
01.09.2009 |
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|
|
|
Name : |
Mr. Vijay Pattamadai Natarajasrma |
|
Designation : |
Director |
|
Address : |
80, Sector – 15 A, Noida – 201 301, |
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Date of Birth/Age : |
10.07.1951 |
|
Date of Appointment : |
30.08.2010 |
|
|
|
|
Name : |
Mrs. Chetna Agarwal |
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Designation : |
Whole time Director |
|
Address : |
408, Ashirwad Enclave, 104, I.P. Extension, |
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Date of Birth/Age : |
28.06.1970 |
|
Date of Appointment : |
07.01.2005 |
|
Date of Ceasing : |
11.02.2009 |
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|
|
|
Name : |
Mr. Madhur Agarwal |
|
Designation : |
Director |
|
Address : |
10, |
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Date of Birth/Age : |
12.06.1969 |
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Date of Appointment : |
30.10.2003 |
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Date of Ceasing : |
28.09.2005 |
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|
|
|
Name : |
Mr. Praveen Goel |
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Designation : |
Director |
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Address : |
C-39, Stree no.13, Madhu Vihar, I P Extension, |
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Date of Birth/Age : |
26.06.1971 |
|
Date of Appointment : |
30.10.2003 |
|
Date of Ceasing : |
28.09.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Madhur Agarwal |
|
Designation : |
Company Secretary |
|
Address : |
10, |
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Date of Birth/Age : |
01.14.1979 |
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Date of Appointment : |
30.10.2003 |
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|
|
|
Name : |
Mr. Vinod Goel |
|
Designation : |
Company Secretary |
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Address : |
43-C, Pocket – B, Sidhartha Extension, |
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Date of Birth/Age : |
12.10.1969 |
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Date of Appointment : |
22.09.2009 |
|
Date of Ceasing : |
09.04.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Dinesh Chandra Agarwal |
|
7891600 |
|
Naresh Chand Agarwal |
|
20100 |
|
Prakash Chandra Agarwal |
|
20100 |
|
Praveen Kumar Goel |
|
17100 |
|
Brijesh Kumar Agarwal |
|
63100 |
|
Pankaj Agarwal |
|
75600 |
|
Chetna Agarwal |
|
77600 |
|
Dinesh Chandra Agarwal (HUF) |
|
30000 |
|
Pushpa Jalan |
|
2500 |
|
Vijay Jalan |
|
2500 |
|
Monika Goel |
|
7500 |
|
Raj Kumar Narang |
|
2000 |
|
Amit Gundh |
|
3500 |
|
Abhishek Bhartia |
|
32500 |
|
Nishit Verma |
|
2500 |
|
Akshi Agarwal |
|
20000 |
|
Shwet Gupta |
|
1500 |
|
Devendra Goel |
|
1000 |
|
Pratibha Goel |
|
1500 |
|
Amit Jain |
|
2000 |
|
|
|
3000 |
|
Rajan Bajpai |
|
1000 |
|
Saryu Kapoor |
|
1000 |
|
Shashi Narain |
|
2500 |
|
Himani Kumar |
|
3500 |
|
Sanjeev Taneja |
|
1000 |
|
|
|
4000 |
|
Vijay Virmani |
|
2000 |
|
Lalit Masta |
|
2000 |
|
Vineet Shukla |
|
1500 |
|
Vikas Agarwal |
|
52500 |
|
Manan Sharma |
|
1000 |
|
Gunjan Agarwal |
|
10000 |
|
Keshar Devi Agarwal |
|
10000 |
|
Kiran Lata Agarwal |
|
11500 |
|
Madhu Agarwal |
|
14500 |
|
Anand Kumar Agarwal |
|
35000 |
|
Meena Agarwal |
|
35000 |
|
Pankaj Verma |
|
500 |
|
Madhup Agarwal |
|
51500 |
|
Prakash Chandra Agarwal (HUF) |
|
3000 |
|
Naresh Chandra Agarwal (HUF) |
|
4500 |
|
Anand Kumar Agarwal (HUF) |
|
3000 |
|
Bennet, Coleman and Company Limited, |
|
426439 |
|
Times Internet Limited, |
|
213220 |
|
Shrawan Kumar Sharma |
|
1000 |
|
Laxmidhar Pradhan |
|
500 |
|
Intel Capital ( |
|
100 |
|
Total |
|
9168959 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Intel Capital ( |
|
1493903 |
|
Total |
|
1493903 |
Equity Share Breakup (As on 30.08.2010)
|
Particulars |
Percentage of holding |
|
Bodies Corporate (not mentioned above) |
6.98 |
|
Directors and relatives of directors |
90.98 |
|
Other
top fifty shareholders |
2.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in providing consolidated services of designing, hosting and promotion of web catalogues and hosting of web pages, renewals of web catalogues, web advertisement and software development. |
GENERAL INFORMATION
|
Bankers : |
· Axis Bank Limited · ICICI Bank Limited · HDFC Bank Limited |
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Facilities : |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
Golf View Corporate Tower-B, Sector-42, |
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Subsidiaries : |
CIN No.: U51909DL2008PTC180430
CIN No.: U72200DL2005PTC136907
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity shares |
Rs.10/- each |
Rs.110.000 Millions |
|
2000000 |
Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
1493903 |
0.01% Series A
Cumulative Convertible reference Shares |
Rs.328/- each |
Rs.490.000 Millions |
|
|
Total |
|
Rs.620.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9168959 |
Equity shares (Of the above 80,00,000 Equity
shares are issued for consideration other than cash) |
Rs.10/- each |
Rs.91.690
Millions |
|
1493903 |
0.01% Series A Cumulative Convertible Preference shares |
Rs.328/- each |
Rs.490.000
Millions |
|
|
Total |
|
Rs.581.690 Millions |
|
|
|
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|
1) Each Series A
Preference Share may be converted into Equity Shares at any time at the option of
the holder of the Series A Preference Share.
2) Subject to
compliance with Applicable Laws, each Series A Preference Share shall
automatically be converted, at the Conversion Price (then in effect), into
Equity Shares upon the earlier of (i) December 31, 2027; or (ii) upon the
completion of a Qualified Public Offering and listing of all Equity Shares of
the Company on the relevant stock exchange after such completion.
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 |
581.690 |
581.690 |
91.688 |
|
|
2] Stock Option Outstanding |
6.281 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
211.985 |
359.708 |
340.051 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
793.675 |
941.398 |
431.739 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.710 |
7.151 |
22.654 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
14.710 |
7.151 |
22.654 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
814.666 |
948.549 |
454.393 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
80.564 |
85.405 |
126.729 |
|
|
Capital work-in-progress |
1.910 |
0.259 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
835.473 |
222.632 |
144.878 |
|
|
DEFERREX TAX ASSETS |
79.766 |
2.213 |
0.590 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
7.557
|
62.942
|
44.537
|
|
|
Cash & Bank Balances |
61.650
|
537.347
|
41.452
|
|
|
Other Current Assets |
8.803
|
0.242
|
1.817 |
|
|
Loans & Advances |
128.549
|
148.803
|
164.731
|
|
Total
Current Assets |
206.559
|
749.334
|
252.537
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry creditors |
62.737
|
41.414
|
21.223
|
|
|
Current Liabilities |
323.299
|
68.324
|
47.577
|
|
|
Provisions |
3.570
|
1.556
|
1.575
|
|
Total
Current Liabilities |
389.606
|
111.294
|
70.375
|
|
|
Net Current Assets |
(83.047)
|
638.040
|
182.162
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.034 |
|
|
|
|
|
|
|
|
TOTAL |
814.666 |
948.549 |
454.393 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
361.159 |
506.666 |
363.166 |
|
|
|
Other Income |
|
31.840 |
18.165 |
|
|
|
TOTAL (A) |
361.159 |
538.506 |
381.331 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
NA |
253.393 |
173.792 |
|
|
|
Operating and other Expenses |
NA |
187.347 |
101.912 |
|
|
|
Prior Period Items |
NA |
4.020 |
0.000 |
|
|
|
TOTAL (B) |
NA |
444.760 |
275.704 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
93.746 |
105.627 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
NA |
1.886 |
1.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
95.880 |
104.277 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
21.294 |
18.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(219.077) |
70.566 |
85.296 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(76.391) |
21.410 |
19.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(142.686) |
49.156 |
66.074 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
198.230 |
180.858 |
117.784 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
3.000 |
3.000 |
|
|
|
Dividend |
NA |
0.017 |
0.000 |
|
|
|
Tax on Dividend |
NA |
0.003 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
226.994 |
180.858 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Web services |
40.368 |
33.059 |
NA |
|
|
|
E- payments |
0.988 |
1.426 |
NA |
|
|
TOTAL EARNINGS |
41.356 |
34.485 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(13.38) |
5.36 |
7.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(39.51)
|
9.12
|
17.32
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
13.92
|
23.48
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(73.30)
|
8.45
|
22.49
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.28)
|
0.07
|
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.51
|
0.12
|
0.21
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.53
|
6.73
|
3.58
|
LOCAL AGENCY FURTHER INFORMATION
NATURE OF OPERATIONS:
The Company was incorporated on September 13, 1999. Company is
business-to-business e-marketplace, which acts as an interactive hub for
domestic and international buyers and suppliers.
FINANCIAL
HIGHLIGHTS:
During the year,
the company accounted loss amounted Rs.142.686 millions mainly due to the
change in the revenue recognition policy.
BUSINESS:
The main objects to be pursued by the company on its incorporation were to engage in the business to design, develop, host, promote and maintain web pages and websites and to carry on business of internet and web advertising, web content design and development, web publishing, networking, network integration, e-mail and messaging solution, web enabled automation systems and solutions, Intranet, Extranet, E-business, E-commerce, Electronic Data Interchange (EDI) solutions, Cyber Solutions and all other Internet related products and services.
To carry on turnkey, on-site, off-shore or subcontract the business of developing, designing, programming, maintenance of software and to buy, sell, import, export, design, develop, implement or undertake projects in the field of computer hardware, system or application software, peripherals, electronic and web enabled devices and to carry on business of management and consultancy services relating to Information Technologies and Electronic Systems.
To buy, sell, export, import, trade, auction, retail, wholesale through e-commerce, web shopping web auction, mail order, teleshopping, electronic trading, physical trading of any products and services.
To manufacture, produce, refine, prepare, store, sell and generally to trade and deal in petroleum and all kinds of minerals oils all products and bye-products thereof including wax, paraffin, soap, paint, varnish, lubricants, illuminants and butter substitute, oil cloth, candles, glycerine, steering and in connection therewith to acquire, construct, repair, operate and use oil and such other refineries buildings, mills, factory, pumps, oil wells, derricks, distilleries, ghanies, rotaries, expellers, mechanical or hydraulic press.
The company is engaged in providing consolidated services of designing, hosting and promotion of web catalogues and hosting of web pages, renewals of web catalogues, web advertisement and software development.
It is in trade terms
with:
·
· Vikrant Group
· M2 Software Developments and Exports Private Limited
· Dimpal Leather Crafts
· Shyam Art and Crafts
· JK Tyres
· Essar Cellular
· Spice Corp
· Jindal Strips
· STCI
· Surajbala Exports Private Limited
· Spectrum Industries
· Mother Herbs and Agro Products
· Hart Foods
· Indo Stainless Fabtech Private Limited
· Shreenathji Chemical Industries
· Chinar International
· Sharad Enterprises
· Lotus Industries
· Kipps Confectioners Private Limited
· Sakthi Masala Private Limited
· Lovson Exports Limited
· Selective Minerals and Color Industries Private Limited
· Kirpal Export Overseas
· Sukani Enterprises
· Ishan Dyechem
· Selmeax Exports Private Limited
· Radico Export Import
· Mag Excel Exports Private Limited
· VDI Exports
· Divya International
· Nimma International
· Radico Mall
· Narasus Exports
· Bonny Baby Care Private Limited
· Great Indian Exports
· Rolex Impex Company
· Mahanagar Telephone Nigam Limited (MTNL)
· Jindal Steel and Jindal Gas
· ModiCorp
· Nirula’s
· Panasonic
· HHEC
Subject is an ISO9001:2000 Certified Company for design, development, hosting and promotion of customised websites, web based applications and B2B services.
It renders its
software development, web based solutions to the following industries:
· Agro, Marine and Other Food Products and Beverages
· Apparel, Garments and Fashion Clothing and Accessories
· Automobiles, Spare Parts and Accessories
· Ayurvedic and Herbal Products
· Bicycles, Rickshaws, Spares and Accessories
· Building Construction Material, Equipment and Sanitaryware
· Chemicals, Fertilizers, Dyes and Allied Products
· Computer Hardware, Software and Accessories
· Cosmetics and Beauty Products
· Electronics and Electrical Goods and Supplies
· Gems, Jewellery and Precious Stones
·
· Handicrafts, handmades, Gifts and Decoratives
· Home Furnishings, Home Textiles and Home Décor Accessories
· Household Consumables and Home Supplies
· Industrial Products, Spares, Goods and Supplies
· Iron, ores, Metals and Minerals.
· Leather and leather Products and accessories
· Medical, Pharma, Surgical and Healthcare Products
· Musical Instruments
· Office and Commercial Supplies and Consumables
· Packaging Material, Supplies and Accessories
· Paper and Paper Products
· Plant and Machinery, Engineering Equipment, Goods and Supplies
· Plastic and Plastic Products
· Printing and Publishing
· Railway, Shipping and Aviation Products, Spares and Equipment
· Rubber and Rubber Products
· Scientific, Measuring, Laboratory Instruments and Supplies
· Sports Goods, Games, Toys and Accessories
· Stones, Marble and Granite Supplies
· Textiles, Yarn, Fabrics and Allied Industries
It’s service
catalogues are as under:
· Architectural and Designing Services
· Astrology, Vaastu and Related Services
· Business Facilation and Consultancy Services
· Domestic, Household, Hospital and Emergency Services
· Educational and Training Institutes
· Embassies, Consulates and International Information Services
· Fabrication, Repairs and Maintenance Services
· HR Consultants and Placement Agencies
· Media, Advertising, News and Tender Notification Services
· Packers and Movers, Shipping, Forwarding and Clearing Agents
· Real Estate Agents, Builders and Consultants
· Research, Development, Testing and Laboratory Services
· Trade Promotion and Information Services
· Travel, Tourism and Other Recreational Services
It offers the
following services to its customers:
· Domain Name Registration
· Web designing
· Web-content development/management
· Web-application development
· E-commerce deployment
· Web-Hosting
· Search engine promotion
· Online business consultancy
· Online media planning and buying
· E-messaging solutions
· Web-castings and real time online event coverage
Contingent Liabilities Not provided for
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
Income Tax in respect
of Assessment Year 2006-07 and 2007-08 in respect of which company has gone
on appeal in CIT (A). Based on judicial pronouncements, the company’s claim
is likely to be accepted by appellate authorities. |
0.185 |
|
UP trade Tax in respect
of Financial Year 2005-06 and 2006-07 in respect of which company has gone on
appeal. Based on judicial pronouncements and the order of appellate
authorities, the company’s claim is likely to be accepted by appellate
authorities |
-- |
|
Cases pending in
consumer court (Gurbinder Singh Vs. Indiamart Intermesh Limited and Hammer
International Vs. Indiamart Intermesh Limited) |
1.233 |
|
Case pending in
civil court (Raman Kumar Vs. Indiamart Intermesh Limited) |
0.116 |
FIXED ASSETS:
·
Office Equipments
·
Furniture and Fixtures
·
Computer equipments
·
Motor Vehicles
·
Building
·
·
Web Portals
·
Softwares
WEBSITE DETAILS:
The customers have always found an integrated business promotion
solution more valuable than a simple web presence. Driven by this preference of
the customers, they have built their selves on the key pillars of smart people
and smart solutions for business promotion. They have developed an integrated
solution delivery framework which incorporates B2B marketplaces, internet
technology and industry knowledge.
IIL's first B2B marketplace - IndiaMART.com, marked the beginning of online
presence of Indian businesses for a global exposure. They today serve their customers
through a network of over 100 industry / product marketplaces, making them the
largest network of integrated B2B marketplaces from
They have always seen Internet as a business facilitator rather than a
technology phenomenon. Their usage of internet technology has therefore been
directed towards business promotion of their customers. Today, they cater to
over 10,000 customers and make internet technology work for their business.
The diversities of businesses make it imperative for them to custom-deliver
their solutions. This presents a great challenge of accumulating and using
industry knowledge to deliver high quality solutions. IIL has developed and
established standards for solution delivery and is
TEAM IIL is poised to maximize the value delivered to the customers through
continuous innovation and learning.
Awards and Achievements :
Success of the customers is their greatest achievement. Their confidence in them and the innovation, to give them the best, has got them applauds from various sources.
·
IIL's successful business model featured on CNBC India as analysed
by McKinsey
·
Declared as
·
Special footage for IIL's contribution in enabling e-business for
exporters from
·
www.indiantravelportal.com bags eighth "BIG" Award from
Britannicaindia.com
·
IndiaMART.com nominated for Britannica Internet Guide (BIG) Awards
for excellence on Internet
·
IndiaMART.com listed among Top Indian Websites under Business - to
business category by Ecomready
·
The best
·
Top Indian Site by www.indiatimes.com
·
Termed as 'Online Gateway to Indian marketplace'- The Economic
Times
·
Best Travel Site- www.indiantravelportal.com by India Online: DD
News
·
Site of the day - Handicraft.indiamart.com by Zee News
·
Listed in the Top Indian IT organisations survey by Dataquest
·
Intermesh Systems listed in the top 70 Indian IT organisations by
Communications World
·
Indiamart.com, handicraft and finance top-rated amongst
·
Intermesh Systems listed amongst Indian IT companies - Dataquest
·
Nominated amongst the Top 5 Indian Sites by Microsoft
·
Termed as The Most Interactive Trading Zone on the Net by The
Economic Times
Fact Sheet :
They endeavor to maximize value for the customers by offering them efficient and cost-effective solutions for business promotion, process support and transaction accomplishment.
IIL started its operations in
1996 and has stood its ground even in the toughest times. They had a
profitable business even when other
companies in this domain found it hard to sustain. Today, they operate from a 18,000 sq. ft.
office in Noida (near
Their team includes over 850 professionals from diverse
backgrounds, bound together to serve over 12,000 customers.
Milestones
2005-06
·
IndiaMART.com completed ten successful
years (1996-2006)
·
Crossed 10,000 clients mark
·
Launched MDC, a four-page online
catalog for clients
·
Implemented corporate-wide WEBERP
·
Acquired new office at B-6, Sec 8,
NOIDA
·
IIL's Indian Gifts Portal (IGP) team
hit the charts with Rs.13.000 Millions
2004-05
·
Became the first ISO 9001:2000 company
in its domain
·
Launched an online payment gateway
ABCPayments.com
·
Crossed 8000 clients
2003-04
·
Launched TrustSEAL to bridge the trust
gap in B2B trade
·
Crossed 3000-clients mark
·
Touched 26 million pageviews per month,
generating more than 0.300 Million
business queries.
2002-03
·
Moved operations to state-of-the-art
NOIDA development center
·
Launched Online Hotel Reservation
System
·
Launched Exim.indiamart.com
·
Crossed 0.2000 Million business queries
mark with 12 million pageviews
2001-02
·
Declared as "the only profitable
Indian Dotcom, with positive cash flows" by Business World - Cover Story:
·
Added to its service portfolio -
Electronic Trade Offers, and Request for Quotation / Request for Proposal
·
Recognised by CNBC India as one of the
only profitable dotcoms in
2000-01
·
Touched 5 mn pageviews/month
·
Crossed 1000 clients mark
·
Crossed 100,000 business queries/month
·
Accomplished Online projects for HHEC,
Jindal Organization, ModiCorp,
·
Won Britannica (BIG) Award for
Travel.indiamart.com
·
New Branch Office in Chennai
·
Profits increased by 128% over last
year
1999-2000
·
Accomplished 'Bharat On Line' - MTNL's
online portal project
·
Launched auto industry channel
·
Opened branch office in Mumbai
·
Crossed Rs.10.000 Millions revenue mark
1998-99
·
Launched Handicraft, Apparel and Finance
channels
·
Workforce increased to 40
·
B2B marketplace network crossed 1
million pageviews/month mark
1997-98
·
Crossed 100 clients mark
·
Launched Travel.indiamart.com (
·
Initiated franchisee network building
1996-97
·
Launched Indiamart.com as
·
Successfully introduced the concept of
freelisting and free-query forwarding to familiarize Indian SMEs with the
benefits of Internet for business promotion
·
Accomplished
·
Broke-even within six months of launch
Performance
Indicators:
IIL started with a team of 4 people in a 100 sq. ft. room in
1996 and launched
Industries Services:
Understanding and valuable insight in forces that drive various industries, they are better equipped to offer effective solutions to the customers.
Textile and apparel is a privileged exports sector in
Automotive spare parts and components is a lesser-known
industry yet a big one, with global aspirations.
It's springtime for Ayurveda and Herbal remedies sector,
with promising global market.
Indian Services Sector has been recognized as a specialized
industry at a global level.
·
Chemical
Indian chemical industry is one of the fastest growing and
promising industries today.
Construction industry boom can be seen in almost all the
developing countries.
Past few years have been a little tough for the electrical
and electronics industry in
Indian handicrafts sector is highly fragmented, mostly in
the form of small scale or cottage industry.
Latest reports suggest almost 30% growth in exports of the
home textile products.
·
Industrial and
Engineering Products
Industrial products and engineering sector has emerged rather
gradually in the Indian scenario.
·
Leather
Indian Leather Industry comes in the top 10 export sectors
of
The Indian Pharmaceutical Industry is one of the largest in
the developing world.
·
Plastic
The plastic processing sector comprises of over 30,000 units
involved in producing a variety of items.
·
Stones
·
Travel
A major foreign exchange earner, it accounted for almost 2%
of GDP in 2004.
PRESS RELEASES:
IndiaMART launches third in series Sourcing Guide at Mega Macao 2007.
'Home Decor Gifts and Crafts' Sourcing Guide aims to assist
global buyers in their quest to find reliable suppliers from
First-of-its-kind from
'Home Decor, Gifts and Crafts Sourcing Guide' is the first of its kind from
Mega
IndiaMART, with its Guide, is representing Indian manufacturers and suppliers
to global buyers, importers, buying houses, distributors, and retailers
including chain stores and mass merchandisers in the three-day-long trade
exhibition. "Home Décor Gifts and
Crafts happens to be one of the first verticals that IndiaMART forayed into
with its online B2B marketplace in 1997. Expectations from both suppliers and
buyers in the industry since then have been high from us. We hope to measure up
to the same with global circulation of our printed Sourcing Guide in addition
to our already popular online presence," puts in Mr. Dinesh
Agarwal, Founder and CEO, IndiaMART.com.
The Guide carries details and contacts of over 2000 credible suppliers from the
industry. To further ensure buyer confidence, IndiaMART has physically
identified and marked high credibility suppliers with its 'TrustSEAL' in the
Guide. "The demand of Indian
handicrafts, home furnishings, crafts and gifts is growing overseas and
IndiaMART's initiatives to provide world class exposure to its customers is
truly commendable. This will certainly mean more exposure to our exports
business globally,” says Mr. Amit Malik, CEO, Saisaara Handicrafts and a
member of IndiaMART. Buyers can also access detailed information about
suppliers by viewing suppliers' online company profile and product catalogs on
IndiaMART.com.
About Indiamart
Indiamart is
With last financial year revenues at US$ 7 million the company has grown at
over 50% CAGR for the last 5 years. IndiaMART.com has been profitable all
through the eleven years of its operations. IndiaMART's online success has been
widely acknowledged by media such as CNBC, BBC, Business Money, CNN, Business
World, Economic Times, Financial Express etc.
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.44.70 |
|
|
1 |
Rs.73.23 |
|
Euro |
1 |
Rs.64.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.