MIRA INFORM REPORT

 

 

Report Date :

01.12.2012

 

IDENTIFICATION DETAILS

 

Name :

LARSEN & TOUBRO INFOTECH DANMARK

 

 

Registered Office :

Lyngbyvej 20, 3rd Floor, Dk-2100 Copenhagen Ř

 

 

Country :

Denmark

 

 

Date of Incorporation :

06.05.2003

 

 

Com. Reg. No.:

378869 

 

 

Legal Form :

Branch of LARSEN & TOUBRO INFOTECH LIMITED       

 

 

Line of Business :

global IT services and solutions provider

 

 

No. of Employees :

Approx. 70 in Denmark                       

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

Payment Behaviour :

No Complaints 

Litigation :

Clear 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Denmark

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Denmark - ECONOMIC OVERVIEW

 

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy among the highest standards of living in the world and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, continued to decline in 2011 though at a slower pace. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish real GDP by 0.8% in 2008 and 5.8% in 2009. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-11, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. In spite of the deficits, the new coalition government plans to deliver a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU at 46.5% of GDP in 2011. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU presidency during the first half of 2012; priorities included promoting a responsible, dynamic, green, and safe Europe, while working to steer Europe out of its euro zone economic crisis.

 

Source cia


company identification

 

COMPANY’S NAME                             LARSEN & TOUBRO INFOTECH DANMARK

                                                            Branch of Larsen & Tourbro Infotech Limited,India

 

ADDRESS                                         Lyngbyvej 20, 3rd Floor

                                                         DK-2100 COPENHAGEN Ř

                                                           

TELEPHONE-NO                                +45 39 15 81 35   

 

TELEFAX-NO                                     +45 39 15 80 10

 

E-MAIL-ADDRESS                             sdeb@Intinfotech.com

 

LOCAL CURRENCY                           D K K

 

FOUNDATION                                    06.05.2003          

                                                        

CENTRAL BUSINESS-REG-NO           CVR.-No.:29535809

 

COMPANY-REG-NO                           378869

 

EU-VAT-ID-NO                                   DK29 53 58 09

 

LEGAL FORM                                    Branch of LARSEN & TOUBRO INFOTECH LIMITED           

                                                         Saki Vihar Road, Powar,

                                                         Maharashtra, Mumbai 400072, India           

 

SHARE CAPITAL                               INR 152.500.000,00          

 

BRANCH MANAGER                          Sarbajit Deb

                                                         Bernstorffsvej 3

                                                         2900 HELLERUP

                                                        

ACTIVITY                                           L&T Infotech is a global IT services and solutions provider. We provide the winning edge to our clients by leveraging our Business-to-IT Connect and deeply committed people. Our clients include industry leaders like Chevron, Freescale, Hitachi, Sanyo and Lafarge, among others. They have found in us a right-size partner who combines scale, stability and customer-centricity.

 

EMPLOYEES                                    Approx. 70 in Denmark     

 

TURNOVER                                       Figures are strictly confidential

 

GROUP-TURNOVER                          31.03.2011 INR 44.296.110.000,000,00

                                                         31.03.2012 INR 53.737.780.000.000,00      

 

 

 

 

COMPANY’S NAME                              LARSEN & TOUBRO INFOTECH DANMARK

                                                            Branch of Larsen & Tourbro Infotech Limited, India

 

FINANCIAL STANDING                       The financial situation seem to be orderly.

                                                         However, a closer insight was not possible.

                                                         The branch does not publish any balance-sheets.

                                                         For information about the indian company or

                                                         the Group, please see www.larsentoubro.com         

 

REAL ESTATE                                   Facilities are rented

 

PAYMENTS                                       Nothing detrimental has been noted           

 

BANKERS                                         Danske Bank A/S

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.53

UK Pound

1

Rs.87.48

Euro

1

Rs.70.89

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.