1. Summary Information
|
|
|
Country |
|
|
Company Name |
STMICROELECTRONICS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Francois Guibert |
|
Status |
Good |
Principal Name 2 |
Mr. Renato S. Sirtori |
|
|
|
Registration # |
039906 |
|
Street Address |
D 28 South
Extension Part 1, |
||
|
Established Date |
19.04.1990 |
SIC Code |
-- |
|
Telephone# |
91-11-40622214 |
Business Style 1 |
Computer Software Development |
|
Fax # |
91-11-40622201 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
46,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings (100.00 %) |
Banking |
-- |
|
Public Limited Corp. |
-- |
Business Period |
21 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
A
(61) |
|
Related
Company |
|||
|
Relation
- |
Country
|
Company
Name |
CEO |
|
Fellow Subsidiaries |
Singapore |
STMicroelectronics, |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,771,284,000 |
Current Liabilities |
414,560,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
1,268,777,000 |
Other Liabilities |
291,957,000 |
|
Deferred Assets |
163,100,000 |
Total Liabilities |
706,517,000 |
|
Invest& other Assets |
171,890,000 |
Retained Earnings |
2,622,034,000 |
|
|
|
Net Worth |
2,668,534,000 |
|
Total Assets |
3,375,051,000 |
Total Liab. & Equity |
3,375,051,000 |
|
Total Assets (Previous Year) |
3,033,676,000 |
|
|
|
P/L Statement as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
3,657,480,000 |
Net Profit |
297,159,000 |
|
Sales(Previous yr) |
3,887,475,000 |
Net Profit(Prev.yr) |
305,931,000 |
|
Report Date : |
29.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
STMICROELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D 28 South Extension Part 1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation
: |
19.04.1990 |
|
|
|
|
Com. Reg. No.: |
55-039906 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 46.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109DL1990FTC039906 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Computer Software Development |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
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 11000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established 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 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
D 28 South Extension Part 1, |
|
Tel. No.: |
91-11-40622214 |
|
Fax No.: |
91-11-40622201 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Design and IP Center 1 : |
Plot No. 1, |
|
Tel. No.: |
91-120-2352999 |
|
Fax No.: |
91-120-4003006 |
|
|
|
|
Design and IP Center 2 : |
Plot No. 2&3 ,Sector 16A Institutional
Area, Noida – 201301, Uttar Pradesh,
India |
|
|
|
|
Design and IP Center 3 : |
JP Techno Park, 3/1, Miller Road, Bangalore, Karnataka,
India |
|
Tel. No.: |
91-80-51235484 - 88 |
|
Fax No.: |
91-80-51235490 |
DIRECTORS
AS ON 28.06.2011
|
Name : |
Mr. Renato S. Sirtori |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
16.05.1943 |
|
Date of Appointment : |
18.05.1990 |
|
DIN No.: |
00022111 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U32109DL1990FTC039906 |
STMICROELECTRONICS
PRIVATE LIMITED |
Director |
18-05-90 |
18-05-90 |
- |
Active |
NO |
|
2 |
U52100DL2007FTC165967 |
STMICROELECTRONICS
MARKETING PRIVATE LIMITED |
Director |
18-07-07 |
18-07-07 |
25-07-09 |
Active |
NO |
|
3 |
U74120DL2008FTC180337 |
ST-ERICSSON
INDIA PRIVATE LIMITED |
Director |
02-07-08 |
02-07-08 |
26-07-08 |
Active |
NO |
|
Name : |
Mr. Francois Guibert |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
22.11.1953 |
|
Date of Appointment : |
29.06.2005 |
|
DIN No.: |
00042060 |
|
|
|
|
Name : |
Mr. Jean Marc Roger Remi Chery |
|
Designation : |
Director |
|
Address : |
48, Carraire Des Artauds, 13100 Le Tholobet, France - 13100 |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
11.02.2011 |
|
DIN No.: |
03424497 |
KEY EXECUTIVES
|
Name : |
Mr. Gaurav K. Sharma |
|
Designation : |
Company Secretary |
|
Address : |
127-C Pocket-I, |
|
Date of Birth/Age : |
04.08.1976 |
|
Date of Appointment : |
24.07.2001 |
|
PAN No.: |
ANZPS5063P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
|
|
249980 |
|
Stmicroelectronics Pte Ltd., |
|
3539120 |
|
Total |
|
3789100 |
AS ON 28.06.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Computer Software Development |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Plot No. Y 14, Block EP, Sector 5, Saltake Electronics Complex, Bidhan
Nagar, Kolkata – 700091, West Bengal,
India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
·
STMicroelectronics Pte. Limited |
|
|
|
|
Ultimate Holding Company |
|
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 28.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,789,100 |
Equity Shares |
Rs.10/- each |
Rs.37.891 Millions |
|
|
|
|
|
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,650,000 |
Equity Shares |
Rs.10/- each |
Rs. 46.500 Millions |
|
|
|
|
|
Note – out of the above 4,400,020 shares are held by
STMicroelectronics Pte. Ltd. The Holding Company and 249,980 shares are held by
STMicroelectronics N.V. (the ultimate holding company)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
46.500 |
46.500 |
46.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2622.034 |
2324.874 |
2018.943 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2668.534 |
2371.374 |
2065.443 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2668.534 |
2371.374 |
2065.443 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1268.777 |
1407.444 |
1528.787 |
|
|
Capital work-in-progress |
171.890 |
207.851 |
226.534 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
163.100 |
126.540 |
136.309 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
1323.148
|
930.360
|
671.056 |
|
|
Cash & Bank Balances |
3.113
|
11.214
|
84.979 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
445.023
|
350.267
|
319.203 |
|
Total
Current Assets |
1771.284
|
1291.841
|
1075.238 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
374.225
|
372.073
|
485.632 |
|
|
Other Current Liabilities |
40.335
|
30.049
|
78.575 |
|
|
Provisions |
291.957
|
260.180
|
337.220 |
|
Total
Current Liabilities |
706.517
|
662.302
|
901.427 |
|
|
Net Current Assets |
1064.767
|
629.539
|
173.811 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2668.534 |
2371.374 |
2065.443 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3657.480 |
3887.475 |
4162.640 |
|
|
|
Other Income |
99.360 |
149.009 |
46.269 |
|
|
|
TOTAL |
3756.840 |
4036.484 |
4208.909 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
385.280 |
433.485 |
414.639 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
88.121 |
127.554 |
145.821 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
297.159 |
305.931 |
268.818 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Software Development, Integrated Circuit Design and Applications |
3657.480 |
3404.802 |
3955.455 |
|
|
|
TOTAL EARNINGS |
3657.480 |
3404.802 |
3955.455 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
201.638 |
202.084 |
209.623 |
|
|
TOTAL IMPORTS |
201.638 |
202.084 |
209.623 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
7.91
|
7.57
|
6.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.53
|
11.15
|
9.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.68
|
16.05
|
15.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.18
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.26
|
0.27
|
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51
|
1.95
|
1.19 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office address of the company has been shifted from
204-206 Tolstoy House 15, Tolstoy Marg, New Delhi – 110001, India to present
address w.e.f. 01.02.2010
Financial Results:
During the year the company turnover
(including other income was of Rs.3756.839 millions as compared to a turnover
(including other income) of Rs.4036.485 Millions in the previous year due to
transfer of business to other entity.
Contingent Liability:
(Rs. In Millions)
|
Particulars |
31.12.2010 |
31.12.2009 |
|
|
|
|
|
Income tax matters in respect of which
appeals are pending (including interest of Rs.124.973 9previous Year
Rs.82.652 millions)* |
420.750 |
328.689 |
|
Note : * the amount stated above is sum of gross amounts claimed against the company
and are under appeal at different stages. In view of the opinion obtained
from Income Tax consultant, management is co9nfident that the demands are not
sustainable: accordingly no proviso has been made in books of account of the
company. |
||
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.50.91 |
|
|
1 |
Rs.81.21 |
|
Euro |
1 |
Rs.67.85 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
NO |
|
--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 |
|
61 |
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.