MIRA
INFORM REPORT
|
Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
XEROX INDIA LIMITED (w.e.f. 18.03.2005) |
|
|
|
|
Formerly Known
As : |
XEROX MODICORP LIMITED |
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|
|
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Registered
Office : |
503, 5th Floor, |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
29.12.1995 |
|
|
|
|
Com. Reg. No.: |
20-24056 |
|
|
|
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Capital Investment
/ Paid-up Capital : |
Rs.448.080 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200UP1995PLC024056 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKX00024D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM8634R |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of copier machines. It has also established a significant presence in facsimile, laser printers and office related supplies such as papers, laser printers, laminators, binders, etc. |
|
|
|
|
No. of Employees
: |
1500
[Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 7900000 |
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|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and a reputed company having fine track. Financial positions of the
company appears to be sound. Trade relations are reported as fair. Business
is active. Payments are regular and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
503, 5th Floor, |
|
Tel. No.: |
91-120-2517860 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
109, Shivalik Apartments, Sector-35, District Gautam Budh Nagar, Noida – 201 307, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2561930 / 2561940 / 2507821 |
|
Fax No.: |
91-120-2561255 |
|
|
|
|
Corporate
Office : |
|
|
Tel. No.: |
91-124-2561930 / 940 |
|
Fax No.: |
91-124-2561255 |
|
E mail: |
|
|
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|
|
Factory : |
Village Durgnagla, Modipur, |
|
Tel. No.: |
91-595-2352052 - 7 |
|
Fax No.: |
91-595-2352059 / 2357300 |
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E-Mail : |
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Central Office: |
5th and 6th Floor, Block One Vatika Business Park, Sector – 49, Sohna Road, Gurgaon – 122018, Haryana, India |
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|
|
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Service
Operations : |
Jagannath House, 33, Community Centre, New Friends Colony, New Delhi - 110 065, India |
|
Tel. No.: |
91-11-26834294 |
|
Fax No.: |
91-11-26832836 / 26820937 |
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Email: |
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Service
Operations : |
Also Located At:
· Agra · Ajmer · Alwar · Amritsar · Bareilly · Bhatinda · Bijnor · Chandigarh · Chittorgarh · Dehradun · Dharamsala · Etawah · Faizabad · Faridabad · Gorakhpur · Haldwani · Hissar · Jaipur · Jalandhar · Jammu · Jhansi · Jodhpur · Kanpur · Karnal · Kota · Leh · Lucknow · Ludhiana · Meerut · Moradabad · Muzzafarnagar · Pali · Pathankot · Patiala · Shakti Nagar · Simla · Sitapur · Sriganganagar · Sunder Nagar · Udaipur · Varanasi · Ahmedabad · Auangabad · Baroda · Bhopal · Chindwara · Gwalior · Jabalpur · Kolhapur · Mumbai · Nagpur · Nasik · Pune · Raipur · Rajkot · Surat · Bangalore · Calicut · Chennai · Kochi · Gulbarga · Hubli · Hyderabad · Kottayam · Kurnool · Mangalore · Mysore · Nellore · Rajamundry · Shimoga · Tirupati · Tirunelveli · Trivandrum · Vijaywada · Vizag · Warangal · Balasore · Behrampore · Bhagalpur · Bhubhaneshwar · Bokaro · Durgapur · Gaya · Guwahati · Jamshedpur · Kolkata · Malda · Midnapore · Muzzafarpur · Patna · Purnea · Ranchi · Sambalpur · Siliguri · Sundargarh · Talcher |
|
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Customer
Business Units : |
Located At: · New Delhi · Mumbai · Kolkata · Bangalore |
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|
|
|
Branch Office
: |
Located At :
|
DIRECTORS
As on 31.03.2009
|
Name : |
Mr. Andrew Donald Sinclair Horne |
|
Designation : |
Managing Director |
|
Address : |
H-14, Pushpanjali Farm. |
|
Date of Birth/Age : |
21.11.1958 |
|
Date of Appointment : |
14.09.2006 |
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|
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|
Name : |
Mr. Lewis William Stringfellow |
|
Designation : |
Whole-time-director |
|
Address : |
Chimni Farm, Farm No.7, Avenue 3rd , Gadiapur, P.O Fateh
Beri, Mehrauli, |
|
Date of Birth/Age : |
14.06.1951 |
|
Date of Appointment : |
03.09.2008 |
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|
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|
Name : |
Mr. Karen Jewell |
|
Designation : |
Additional Director |
|
Address : |
3 Bishops House, |
|
Date of Birth/Age : |
01.04.1962 |
|
Date of Appointment : |
28.02.2007 |
|
|
|
|
Name : |
Mr. Marcel Johannes Maria Frielinck |
|
Designation : |
Whole time Director |
|
Address : |
Farm No. 2, Cedar Avenue, Khasra No. 1368, DLF Chattarpur Farms, New Delhi
– 110074, India |
|
Date of Birth/Age : |
26.05.1964 |
|
Date of Appointment : |
29.09.2005 |
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|
|
|
Name : |
Mr. Omri Swartz |
|
Designation : |
Additional Director |
|
Address : |
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Date of Birth/Age : |
27.04.1968 |
|
Date of Appointment : |
28.02.2007 |
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|
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|
Name : |
Mr. Darren James Hooker |
|
Designation : |
Additional Director |
|
Address : |
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Date of Birth/Age : |
02.03.1966 |
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Date of Appointment : |
28.02.2007 |
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|
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|
Name : |
Mr. Jule Ernest Limoli |
|
Designation : |
Director cum Chairman |
|
Address : |
5 Port Land Park, Gerrards Cross, Buckinghamshire – 97, |
|
Date of Birth/Age : |
02.08.1951 |
|
Date of Appointment : |
14.09.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Rohit Vashisth |
|
Designation : |
Manager- Legal and Deputy Company Secretary |
|
Address : |
E-1/17, |
|
Date of Birth/Age : |
02.05.1974 |
|
Date of Appointment : |
14.06.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 03.09.2008
|
Names of Shareholders |
|
No. of Shares |
|
Xerox Limited |
|
20423200 |
|
Sidh Security Limited |
|
16309162 |
|
Modi Rubber Limited |
|
3137000 |
|
Xerox Development Markets Limited |
|
1980801 |
|
Sidh Securities Limited c/o Key financial services Limited |
|
1108224 |
|
Damani Estate and Finance Private Limited |
|
344488 |
|
Sidh Securities Limited c/o International Management Mauritius Limited |
|
167014 |
|
Superior Investments ( |
|
95000 |
|
Your Investments ( |
|
95000 |
|
Indo Euro Investment Company Limited |
|
60000 |
|
Toplight Corporate Management Private Limited |
|
48179 |
|
Radhakishan D Damant |
|
40592 |
|
Oriental Insurance Company Limited |
|
39746 |
|
Rakesh Jhunjhunwala |
|
33366 |
|
Sidh Securities Limited |
|
22306 |
|
Radhakishan S Damant |
|
16566 |
|
Vipul Priyakant Dalal |
|
12468 |
|
Ajay J Doshi |
|
12000 |
|
Bright Star Investments Private Limited |
|
11794 |
|
Shrikantadevi R Damani |
|
10246 |
|
Brindar Singh Singhota |
|
10000 |
|
Twenty First Century Capitals Limited |
|
9800 |
|
Radhakishan S Damani |
|
9700 |
|
Inductrial Dev. Bank of |
|
9333 |
|
Hemchand Purohit |
|
6666 |
|
Haresh K Dalal |
|
6400 |
|
Lalit Pugalia |
|
6000 |
|
Nirmala S Nagarkatti |
|
4716 |
|
Radhakishan S Damani |
|
4233 |
|
Dilip Modi |
|
4160 |
|
Swasth Invest Private Limited |
|
4160 |
|
Touchwood Invest Private Limited |
|
4160 |
|
Ganon Trading and Finance Company Limited |
|
3933 |
|
Citizen Hotels Private Limited |
|
3533 |
|
Haresh S Jhaveri |
|
3500 |
|
Gopikishan S Damani |
|
3350 |
|
Radhakishan S Damani |
|
3333 |
|
Kamal Pugalia |
|
3333 |
|
Kalavati R Shah |
|
3200 |
|
Kum Kum Modi |
|
2913 |
|
Umesh Kumar modi |
|
2913 |
|
Aditya Kumar Sen |
|
2496 |
|
Sheetal V J Trading and Invest Company Private Limited |
|
2333 |
|
Ramesh Damani |
|
2234 |
|
Kamal Pugalia |
|
2000 |
|
Sunrise Industrial Traders Limited |
|
2000 |
|
Bharat D Mulchandani |
|
1800 |
|
Navid A Antulay |
|
1668 |
|
Ajaya Jain |
|
1601 |
|
Jayant Rohatgi |
|
1466 |
|
Kishan Lal Pugalia |
|
1433 |
|
Shardaben Patel |
|
1404 |
|
Ashok Kumar Goyal |
|
1400 |
|
Brabourne Estates Limited |
|
1400 |
|
Prabhat L Patel |
|
1373 |
|
Jamshed Batliwala |
|
1333 |
|
Thakor Patel |
|
1333 |
|
Yogendra Shah |
|
1333 |
|
Vijay Sanganeria |
|
1333 |
|
Shantichand Jhaveri |
|
1333 |
|
Nikesh Mehta |
|
1332 |
|
Jagdish Malkani |
|
1328 |
|
Hemant Ramesh Samtani |
|
1300 |
|
Manish Innani |
|
1296 |
|
P Mukesh |
|
1231 |
|
Kishan Lal Pugalia |
|
1200 |
|
SBI Cap MKT Limited |
|
1168 |
|
Navnitilal R Shah |
|
1162 |
|
Takeoff Enterprises Limited |
|
1134 |
|
Sunil Pote |
|
1100 |
|
Brown Investment and Trading Company Limited |
|
1046 |
|
Chothani Fiber Private Limited |
|
1034 |
|
Kanaiyalal Bhikhabhai Mehta |
|
1006 |
|
Vijay Sanganeria |
|
1002 |
|
Jay Praful Shah |
|
1000 |
|
Malika Parekh |
|
1000 |
|
Maniben Shah |
|
1000 |
|
Jayesh Shah |
|
1000 |
|
Nikita Damani |
|
1000 |
|
Amar D Jyostsinghani |
|
1000 |
|
Rachan Shewakramani |
|
999 |
|
Jaikumar jain |
|
999 |
|
Amrendra Swarup |
|
996 |
|
Oasis Overseas Private Limited |
|
993 |
|
Shailendra Swarup |
|
990 |
|
Shridhar Iyer |
|
966 |
|
Suman Manghnani |
|
964 |
|
Amarjit Kaur |
|
946 |
|
Lalu Mahtani |
|
946 |
|
Punit Kumar |
|
945 |
|
Javeed Abid Ebraham |
|
940 |
|
Janardhan Bagri |
|
933 |
|
Devesh Vakharia |
|
932 |
|
Janki Daga |
|
929 |
|
Hemaben Thackar |
|
917 |
|
Bina Chaturvedi |
|
900 |
|
|
|
887 |
|
|
|
873 |
|
Bhagvati Tobaccowala |
|
866 |
|
Pinakin Shah |
|
855 |
|
Total |
|
44148876 |
As On 03.09.2008
|
Equity Share
Breakup |
|
|
|
Category |
|
Percentage of
Holding |
|
Public Financial Companies |
|
0.11 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
89.31 |
|
Bodies corporate |
|
8.56 |
|
Other top fifty shareholders |
|
0.54 |
|
Other |
|
1.48 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of copier machines. It has also established a significant presence in facsimile, laser printers and office related supplies such as papers, laser printers, laminators, binders, etc. |
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Products : |
|
||||||||||
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||||||||||
|
Brand Names : |
“XEROX” |
PRODUCTION STATUS AS ON 31.03.2009
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Xerographic equipment and systems (coming under the category of "High Technology Reproduction and Multiplication Equipment") |
|
No. |
9500 |
77 |
GENERAL INFORMATION
|
Suppliers : |
|
|
|
|
|
Customers : |
|
|
|
|
|
No. of Employees : |
1500
[Approximately] |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
Building No. 8, 7th and 8th Floor, Tower B, |
|
Pan No.: |
AABFD2095B |
|
|
|
|
Holding Company: |
Xerox Corporation, US |
|
|
|
|
Fellow Subsidiaries : |
|
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|
|
|
|
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|
|
|
|
Membership |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity shares |
Rs.10/- each |
Rs.1000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
44808000 |
Equity shares |
Rs.10/- each |
Rs.448.080 millions |
|
|
|
|
|
Notes:
Of the above Equity Shares, 20,423,200 (Previous year 20,423,200) shares
are held by Xerox Limited,
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 |
448.080 |
448.080 |
448.080 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1537.953 |
1521.516 |
1559.694 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1986.033 |
1969.596 |
2007.774 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.014 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.014 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1986.033 |
1969.596 |
2007.788 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
443.142 |
377.175 |
375.673 |
|
|
Capital work-in-progress |
13.623 |
0.585 |
3.340 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.021 |
0.807 |
|
|
DEFERREX TAX ASSETS |
180.209 |
221.736 |
242.213 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
574.424
|
811.190
|
981.242
|
|
|
Sundry Debtors |
730.118
|
791.487
|
847.553
|
|
|
Cash & Bank Balances |
401.386
|
408.578
|
500.582
|
|
|
Other Current Assets |
1.232
|
1.182
|
3.270
|
|
|
Loans & Advances |
718.728
|
725.931
|
665.079
|
|
Total Current Assets |
2425.888
|
2738.368
|
2997.726
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
602.945
|
888.991
|
884.519
|
|
|
Other Current Liabilities |
89.540
|
97.317
|
88.748
|
|
|
Provisions |
384.344
|
381.981
|
638.704
|
|
Total Current Liabilities |
1076.829
|
1368.289
|
1611.971
|
|
|
Net Current Assets |
1349.059
|
1370.079
|
1385.755
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1986.033 |
1969.596 |
2007.788 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5040.899 |
5757.034 |
5599.648 |
|
|
|
Other Income |
86.834 |
144.347 |
116.144 |
|
|
|
TOTAL (A) |
5127.733 |
5901.381 |
5715.792 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing
Expenses |
3026.498 |
3748.009 |
3697.780 |
|
|
|
Employee
Remuneration and Benefit |
635.620 |
737.369 |
529.390 |
|
|
|
Selling,
Distribution, Administration and Other Expenses |
1225.494 |
1369.955 |
1244.050 |
|
|
|
Less : Cost Transferred
to fixed Assets/ Others |
0.000 |
0.000 |
(133.248) |
|
|
|
TOTAL (B) |
4887.612 |
5855.333 |
5337.972 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
240.121 |
46.048 |
377.820 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.382 |
1.614 |
2.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
239.739 |
44.434 |
375.024 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
76.782 |
73.267 |
67.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
162.957 |
(28.833) |
307.282 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
146.520 |
9.345 |
86.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-H) (I) |
16.437 |
(38.178) |
221.231 |
|
|
|
|
|
|
|
|
|
Add |
Transferred from Export Profit Reserve |
0.000 |
28.600 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
16.437 |
(9.578) |
221.231 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
70.327 |
62.080 |
53.969 |
|
|
|
Software Services Income |
35.857 |
37.339 |
41.661 |
|
|
|
Software Services Income |
48.027 |
20.991 |
0.000 |
|
|
|
Others |
11.678 |
10.024 |
11.546 |
|
|
TOTAL EARNINGS |
165.889 |
130.434 |
107.176 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
17.133 |
40.528 |
52.762 |
|
|
|
Components for sale and servicing of field machines |
868.806 |
825.578 |
815.893 |
|
|
|
Finished goods |
1041.025 |
1353.085 |
1353.143 |
|
|
TOTAL IMPORTS |
1926.964 |
2219.191 |
2221.798 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.37 |
(0.85) |
4.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.32 |
(0.64) |
3.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.23 |
(0.50) |
5.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.68 |
(0.92) |
8.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
(0.01) |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.54 |
0.69 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25 |
2.00 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND
Subject was incorporated in India on December 29, 1995 to carry on the
business of manufacture and trading of xerographic equipments, systems and its
consumables, trading in paper, multifunction devices, laser printers, provide
after sales services to machines sold which include servicing, repair and sale
of spare parts and has a dedicated software development center at Gurgaon.
The accompanying financial statements reflect the results of the
activities undertaken by the Company during the year ended March 31, 2010.
Operations
Today, Subject Corporation has transformed itself into a technology and
services enterprise, and a leader in the global document market. The company
develops, manufactures, markets, services and finances a complete range of
document equipment, software, solutions and services.
In
The document industry is transitioning to digital systems, to color, and
to an increased reliance on electronic documents. More and more, businesses are
creating and storing documents digitally and using the Internet to exchange
electronic documents. They believe these trends play to the strengths of the
product and service offerings and represent opportunities for future growth in
the market they serve.
Xerox
Production
They provide high-end digital monochrome and color systems designed for
customers in the graphic communications industry and for large enterprises.
These high-end devices enable digital on-demand printing, digital full-color
printing and enterprise printing. They are the only manufacturer in the market
that offers a complete family of cut sheet monochrome production systems from
65 to 288 pages per minute (“ppm”), color production systems from 40 to 110 ppm
and a complete line of continuous feed printers from 250 to 1,064 ppm. In
addition, they offer a variety of pre-press and post-press options and the
industry’s broadest set of workflow software.
With the FreeFlow® digital workflow collection of software technology
solutions, the customers can improve all aspects of their processes, from
content creation and management to production and fulfillment. The digital
technology, combined with total document solutions and services that enable
personalization and printing on demand, delivers value that improves the
customers’ business results.
In the wide-format systems business, they offer document processing
products and devices designed to reproduce large engineering and architectural
drawings up to three feet by four feet in size.
Office
Xerox markets and sells a range of color and black-and-white
multifunction, printer, copier and fax products. The Office segment serves
global, national and small to mid-size commercial customers as well as
government, education and other public sector customers. Office systems and
services, which include monochrome devices at speeds up to 95 ppm and color
devices up to 70 ppm, include the family of CopyCentre®, WorkCentre and Work
Centre Pro digital multifunction systems, Phaser desktop printers and MFD’s as
well as DocuColor printer/copiers for the specific needs of graphic intensive
organizations and facsimile products.
They offer a complete range of services and solutions in partnership
with independent software vendors that allow the customers to analyze,
streamline, automate, secure and track their digital workflows, which they then
use to identify the most efficient, productive mix of office equipment and
software for that business, helping to reduce the customer’s document-related
costs.
Global Services
Xerox Global Services helps customers take a new look at the business
challenges they face today. No other company has more experience making
business processes more cost-efficient and secure. Xerox experts can manage
document technology and assets in an office, provide records management, create
better print-production operations, and more. All Xerox services use Smarter
Document ManagementSM technologies and processes to achieve measurable results
that meet customer objectives.
Xerox service professionals include consultants and technical experts
who identify and assess a client's situation, design and implement solutions,
and then manage the resulting work processes as needed. Xerox Global Services
spans three primary areas: Business Process Services, Office Services and
Production Services.
Technical Service
Support, Paper and Supplies
They believe that the service force represents a significant competitive
advantage because it is continually trained on the products and its diagnostic
equipment is state-of-the-art. They offer service 24 hours a day, 7 days a
week, in major metropolitan areas, providing a consistent and superior level of
service worldwide.
They sell cut-sheet paper to the customers for use in their document
processing products. The market for cut-sheet paper is highly competitive and
revenues are significantly affected by pricing. The strategy is to charge a
premium over mill wholesale prices, which is adequate to cover the costs and
the value they add as a distributor, as well as to provide unique products that
enhance the New Business of Printing and color output.
Closure and
Disposal of
The Board of Directors in its meeting held on 22th February, 2010 had
decided to close the factory located at
Bankers Charges
Report as per Registry
|
Name of the company |
XEROX MODICORP LIMITED |
|
Presented By |
MR. SHUKLA WASSAN, COMPANY SECRETARY |
|
1) Date and description of instrument creating the change |
Deed of
Hypothecation dated 18.12.1985 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 12.500
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Present and
future debts, outstanding monies, receivables, claims and other dues, raw
material, stocks spares etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Term and
conditions as prescribed by RBI / HO Guidclines of the bank |
|
5) Name and Address and description of the person entitled to the charge. |
Central Bank of 55, Madhuvan,
Nehru Place, New Delhi, India |
|
6) Date and brief description of instrument modifying the charge |
05.11.2004 –
Agreement of Books Debts as Agreement of Hypothecation to secure cash credit |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Reduction of
working capital limits from Rs. 150 Millions to Rs. 90.000 Millions and Rs.
93.000 Millions to Rs. 83.000 Millions Total Rs. 243.000 Millions to Rs.
173.000 Millions Property charged
: First pari passu
charge on present and future book debts other than leasing and funding
receivable, outstanding monies, receivables, claims and other dues, all
tangible movable property such as raw materials, stocks, spares etc. first
charge on fixed assets. |
Contingent
Liabilities (As on 31.03.2010):
Guarantees given of Rs.95.862 Millions represent guarantees given in the
normal course of the Company's operations and are not expected to result in any
loss to the Company on the basis of the beneficiary fulfilling its ordinary
commercial obligations.
FIXED
ASSETS
- Land
- Leased Hold
- Leased Improvements
- Building
- Plant and Machinery
- Electric Installation
- Furniture and Fixture
- Office Equipments
- Vehicles
- Goodwill
WEBSITE DETAILS:
press
clipping
Xerox Modicrop unveils
8 international products in
MUMBAI: Document
management company Xerox Modicorp has launched its eight international products
- six laser network printers and two multi-function devices - in
The launch
strengthens the company's presence in office segment and entry-level colour
printer laser segment in the country. The new printers are Phaser 3121, 3420
and 4500 (laser monochromes) and Phaser 6100, 7750 and 8400 (colour lasers) and
the MFDs are M15 and PE-16e. Xerox has also appointed Ingram Micro as the
national distributor of its channel products in the country
Xerox Modicrop
changes managing director
Xerox Modicorp has
announced the appointment of Mr Andrew Horne as managing director for
Xerox ModiCrop’s sales expected to grow by 13%
During 2003, Xerox
Modicorp clocked a 13 per cent growth in revenues at 98.6 million dollars.
Revenues from equipment sales jumped 39 per cent with a four-fold growth in the
high-end colour business. Equipment sales comprised 41 per cent of revenues
while the remaining 59 per cent came from non-equipment sales.
Childs said revenue
split of 41:59 in 2003 of equipment and non-equipment sales was expected to
change to 50:50 this year and 45:55 the year after as it lines up a
multi-pronged marketing and after-sales strategy along with 20 new products to
boost its equipment sales like laser printers and multicopiers
Xerox expects 13-pc revenue growth during '04
Equipment sales
comprised 41 per cent of revenues, while the remaining 59 per cent came from
non-equipment sales. According to the sources, the revenue split of 41:59 in
2003 between equipment and non-equipment sales was expected to change to 50:50
this year and 45:55 the year after as the company has lined up a multi-pronged
marketing and after-sales strategy along with 20 new products to boost its
equipment sales like laser printers and multicopiers. The company, a joint
venture between the US-based Xerox Corporation and the Modi group, will soon
add 25 people at its software development centre in Gurgaon, taking the total
workforce to over 95.
Xerox plans to launch 20 new products
The company's fixed
asset of important value includes goodwill, land (freehold and leasehold),
leasehold improvements, buildings, plant and machinery, electric installations,
furniture, fixtures and office equipments and vehicles.
Xerox to
sign up Ingram Micro as national disty
Xerox is on the verge of signing up Ingram Micro India as
its nationwide distributor for low-end inkjet printers, high-end laser printers,
MFDs, digital copiers and fax machines
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.49.02 |
|
|
1 |
Rs.77.13 |
|
Euro |
1 |
Rs.67.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
58 |
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.