MIRA
INFORM REPORT
|
Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
IBM INDIA PRIVATE
LIMITED |
|
|
|
|
Formerly Known As : |
IBM GLOBAL SERVICES INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
No.12, Subramanya
Arcade, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
13.06.1997 |
|
|
|
|
Com. Reg. No.: |
08-022382 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.2303.592 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200KA1997PTC022382 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRI00560A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACI4403L |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of All Types of Computer Systems, Hardware, Software,
Display Systems, Computer Accessories and Peripherals. |
|
|
|
|
No. of Employees
: |
12500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 150000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of a well known multi-national IBM. It is an
ultimate subsidiary of 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 : |
No.12, Subramanya
Arcade, |
|
Tel. No.: |
91-80-4068300 |
|
Fax No.: |
91-80-22063871 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 Sq. Ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
201, Pondichery – 605 010 |
|
Tel. No.: |
91-413-22371707, 22372026 / 28 |
|
Fax No.: |
91-413-22372014 |
|
Area : |
10000 Sq. Ft. |
|
Location : |
Rented |
|
|
|
|
Corporate Office : |
·
Bangalore (Solution partnership centre for
porting of software by independent software providers on IBM platforms, this
centre is one among only 10 such IBM centres, worldwide) · Pune · Gurgaon (E-Business Software) ·
v
Hyderabad (“School for enterprise wide computing”, C/O. Indian
Institute of Information Technology, Hyderabad) |
|
|
|
|
Branch Office : |
Golden Tower, Airport Road, Bangalore – 560017, Karnataka, India |
|
|
|
|
Other Branch Offices : |
Located at · New Delhi · Mumbai · Chennai · Kolkata |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Raghunandana Srinivaschar Kadambadi |
|
Designation : |
Director |
|
Address : |
25, 8th
Main Road, Shankar Nagar, |
|
Date of Birth/Age : |
21.07.1966 |
|
Date of Appointment : |
13.06.2001 |
|
DIN No.: |
00428979 |
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 |
U72200KA1997PTC022382 |
IBM
INDIA PRIVATE LIMITED |
Director |
13-06-01 |
13-06-01 |
- |
Active |
NO |
|
2 |
U67120WB1982PTC035216 |
IBM BUSINESS
CONSULTING SERVICES PRIVATE LIMITED |
Director |
01-10-02 |
01-10-02 |
- |
Active |
NO |
|
Name : |
Ms. Anita Sanghi |
|
Designation : |
Director |
|
Address : |
Flat 1, Sai Krupa Heera, CV, Raman Nagar, |
|
Date of Birth/Age : |
11.04.1966 |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
01638548 |
|
|
|
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 |
U73100MH1998PTC113203 |
ASCENTIAL
SOFTWARE (INDIA) PRIVATE LIMITED |
Director |
22-11-05 |
22-11-05 |
- |
Amalgamated |
NO |
|
2 |
U30007TN1996PTC035773 |
GLOBAL
TRANSPORT AND LOGISTICS IT INDIA PRIVATE LIMITED |
Additional
director |
29-03-07 |
29-03-07 |
- |
Active |
|
|
3 |
U72200KA1997PTC022382 |
IBM
INDIA PRIVATE LIMITED |
Director |
15-09-10 |
15-09-10 |
- |
Active |
NO |
|
Name : |
Mr. Satish Khatu |
|
Designation : |
Director |
|
Address : |
2, Leonie Hill Road, Apartment 20, 01, Singapore-239192 |
|
Date of Birth/Age : |
03.12.1952 |
|
Date of Appointment : |
16.01.2002 |
|
DIN No.: |
01241423 |
|
|
|
|
Name : |
Mr. Amit Sharma |
|
Designation : |
Director |
|
Address : |
209, Defence Colony, 3rd Main, 5th
Cross, Indira Nagar, Bangalore-560038, Karnataka |
|
Date of Birth/Age : |
28.08.1970 |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
00404377 |
|
|
|
|
Name : |
Mr. Ganesh Margabandhu |
|
Designation : |
Director |
|
Address : |
No.713, 7th Main, 3rd Phase, J.P.
Nagar, Bangalore-560078, Karnataka |
|
Date of Birth/Age : |
02.10.1959 |
|
Date of Appointment : |
18.08.2004 |
|
DIN No.: |
00490575 |
|
|
|
|
Name : |
Mr. Shanker Annaswamy |
|
Designation : |
Managing Director |
|
Address : |
Flat 5, Prestige Casablaca 2/2, Airport Road, Kodihalli, Bangalore-560017,
Karnataka |
|
Date of Birth/Age : |
01.08.1955 |
|
Qualification : |
B.E.Elec and Comm., Diploma in Business Management |
|
Experience : |
26 years |
|
Date of Appointment : |
14.07.2004 |
|
DIN No.: |
00449634 |
|
|
|
|
Name : |
Mr. Yogesh Dayal |
|
Designation : |
Director |
|
Address : |
No.707, Raheja Residency, Koramangala, Bangalore-560034,
Karnataka |
|
Date of Birth/Age : |
26.05.1958 |
|
Date of Appointment : |
18.03.2005 |
|
DIN No.: |
00420367 |
|
|
|
|
Name : |
Mrs. Kalpana Margabandhu |
|
Designation : |
Director |
|
Address : |
Venkateshwara Krupa, 1194 V Block, Rajaji Nagar,
Bangalore-560010 |
|
Date of Birth/Age : |
03.05.1957 |
|
Date of Appointment : |
29.09.2005 |
|
DIN No.: |
00419834 |
|
|
|
|
Name : |
Mrs. Rajesh Nambiar |
|
Designation : |
Director |
|
Address : |
Adarsh
Vista Villa No.70, Basvanagar Off, Airport Road, Bangalore- 560037,
Karnataka, India |
|
Date of Birth/Age : |
15.09.1967 |
|
Date of Appointment : |
20.03..2007 |
|
DIN No.: |
01449425 |
|
|
|
|
Name : |
Mr. Ramanan Ravi Kumar |
|
Designation : |
Director |
|
Address : |
493 Embassy Heritage, 62/2-1 8th Main, Malleswaram, Bangalore- 560055, Karnataka, India |
|
Date of Birth/Age : |
22.11.1960 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01824555 |
|
|
|
|
Name : |
Mr. Robert Edgar Anthony Parker |
|
Designation : |
Director |
|
Address : |
Villa No.159, Phase 1, Palm Madows Ramagonda, Nahalli Airport, Vartgur Road, Bangalore-560066, Karnataka, India |
|
Date of Birth/Age : |
13.06.1964 |
|
Date of Appointment : |
12.03.2008 |
|
DIN No.: |
02106797 |
|
|
|
|
Name : |
Mr. Sripada Chandrasekhar |
|
Designation : |
Director |
|
Address : |
A 401, Sabari Ashiana, Deonar Farm Road, Deonar, Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
12.07.1957 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02813923 |
KEY EXECUTIVES
|
Name : |
Mrs. Subhashree
Sridharan |
|
Designation : |
Company Secretary |
|
Address : |
T-3, Sri
Mahalajkshmi Apartments, 30-31, 5th Main, 8th Cross,
Malleswaram, Bangalore-560003, |
|
Date of
Birth/Age : |
29.05.1973 |
|
Date of
Appointment : |
05.01.2007 |
|
PAN No.: |
ALXPS0933J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
IBM World Trade Corporation, |
|
230359233 |
|
IBM World Trade Holding LLC, USA |
|
15 |
|
Total |
|
230359248 |
AS ON 30.09.2011
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of All Types of Computer Systems, Hardware,
Software, Display Systems, Computer Accessories and Peripherals. |
GENERAL INFORMATION
|
No. of Employees : |
12500 (Approximately) |
|||||||||||||||||||||||||||||||||
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|
Bankers : |
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|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Notes: (A) [Repayable
within one year-Rs 1347.527 Millions] (B) Includes
Loan from Sterling Commerce Solutions India Private Limited (Payable on
demand)- Rs 302.426 Millions, Loan from Cisco Capital Private Limited
[Repayable within one year Rs.82.073 Millions]- Rs 123.110 Millions, Bank
Overdraft- Rs 201.442 Millions and Other Than Short Term (from Banks)-
3000.000 Millions [Repayable within one year Rs. 2000.000 Millions] (C) Loan from
Network Solutions Private Limited (Payable on demand)- Rs 105.000 Millions,
Short Term (from Banks)- 5000.000 Millions [Repayable within one year Rs.
5000.000 Millions], Other Than Short Term (from Banks)- 4000.000 Millions
[Repayable within one year Rs.1000.000 Millions] |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
5th Floor, Tower
"D", The Millenia 1 and 2 Murphy Road, Ulsoor, Bangalore 560 008,
Karnataka, India |
|
Pan No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
IBM World Trade Corporation |
|
|
|
|
Ultimate Holding Company : |
International Business Machines Corporation, USA (IBM Corp) |
|
|
|
|
Subsidiaries : |
·
Telelogic India Private Limited CIN
No.: U72200MH2000PTC199082 ·
BigFix Software (India) Private Limited CIN
No.: U72200KA2009PTC049543 ·
IBM Business Consulting Service Private Limited CIN
No.: U67120WB1982PTC035216 |
|
|
|
|
Associates : |
|
|
|
|
|
Fellow subsidiaries
: |
|
|
|
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Share |
Rs.10/- Each |
Rs.2500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230359248 |
Equity Share |
Rs.10/- Each |
Rs.2303.592
millions |
NOTE :-
(1) Of the above shares 230,359,233 Equity Shares
of Rs.10 each are held by IBM World Trade Corporation, USA ., the Holding
Company and 15 Equity shares of Rs.10 each are held by IBM World Trade Holding
LLC .
(2) Of the above
11,143,699 shares were issued on amalgamation
(3) Of the above
138,215,549 shares were issued as bonus shares by capitalisation of reserves
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2303.592 |
2303.592 |
2303.592 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
36311.601 |
23400.999 |
17000.593 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
38615.193 |
25704.591 |
19304.185 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
814.691 |
943.101 |
927.400 |
|
|
2] Unsecured Loans |
3626.978 |
10472.293 |
18303.344 |
|
|
TOTAL BORROWING |
4441.669 |
11415.394 |
19230.744 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
43056.862 |
37119.985 |
38534.929 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16713.303 |
15869.567 |
15668.255 |
|
|
Capital work-in-progress |
214.267 |
137.692 |
320.386 |
|
|
|
|
|
|
|
|
INVESTMENT |
1344.070 |
2008.599 |
2106.459 |
|
|
DEFERREX TAX ASSETS |
86.928 |
644.355 |
1052.324 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1535.181
|
2316.175
|
1828.093 |
|
|
Sundry Debtors |
20175.083
|
23401.952
|
19509.019 |
|
|
Cash & Bank Balances |
1501.388
|
2127.933
|
4951.348 |
|
|
Other Current Assets |
15132.029
|
4349.789
|
4166.114 |
|
|
Loans & Advances |
24154.908
|
18131.051
|
12828.914 |
|
Total
Current Assets |
62498.589
|
50326.900
|
43283.488 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11369.491 |
8101.766 |
9110.746 |
|
|
Other Current Liabilities |
23532.169
|
20896.742
|
12192.291 |
|
|
Provisions |
2898.635
|
2868.620
|
2592.946 |
|
Total
Current Liabilities |
37800.295
|
31867.128
|
23895.983 |
|
|
Net Current Assets |
24698.294
|
18459.772
|
19387.505 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
43056.862 |
37119.985 |
38534.929 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
154133.000 |
123133.000 |
110031.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
131655.000 |
108137.000 |
97931.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22478.000 |
14996.000 |
12100.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
635.000 |
1158.000 |
1296.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21843.000 |
13838.000 |
10804.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6477.000 |
6004.000 |
5152.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
15366.000 |
7834.000 |
5652.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2456.000 |
1434.000 |
(119.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12910.000 |
6400.000 |
5771.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from operation |
107200.000 |
78107.459 |
68549.015 |
|
|
|
Commission received |
|
241.958 |
588.201 |
|
|
|
Export of traded items on FOB basis |
|
50.008 |
88.740 |
|
|
|
Reimbursement of Travel, Warranty etc. |
|
9418.436 |
7570.536 |
|
|
TOTAL EARNINGS |
107200.000 |
87817.861 |
76796.492 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
3890.514 |
4916.927 |
|
|
|
Traded Items |
|
7642.457 |
6909.964 |
|
|
|
Software |
|
4034.159 |
3501.243 |
|
|
|
Components and spare parts for sales and services. |
|
251.002 |
155.073 |
|
|
|
Cost of equipment and software for services contracts |
|
977.283 |
814.305 |
|
|
TOTAL IMPORTS |
NA |
16795.415 |
16297.512 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
56.06 |
27.78 |
25.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.38 |
5.20 |
5.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.40 |
11.83 |
9.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.30 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.09 |
1.68 |
2.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65 |
1.58 |
1.81 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
RESULTS OF OPERATIONS
Total revenue
increased to Rs. 154133.000 Millions from Rs. 123133.000 Millions in the
previous year, at a growth rate of around 24%. The operating profits increased
by about 49% from Rs 14,996 Millions to Rs. 22481.000 Millions. The profit
after tax increased to Rs. 12910.000 Millions from Rs. 6400.000 Millions.
BUSINESS OPERATIONS AND OUTLOOK
2011 marks their
100-year track record of innovation and progress, and provides us a unique
opportunity to amplify IBM's leadership and differentiation with all their
constituents. This year underscores their ability to drive value and innovation
like no other company.
As global
economies continue to expand, with markets in their region leading the pack, and
clients shift focus and make bold moves, their 2011 growth strategy should
anticipate these market shifts and continue to transform. They need to sharpen
focus on their strategic integrating priorities to deliver greater client
value, and drive efforts as Sales Execution Initiatives and Demand Systems to
accelerate integration and growth to meet their 2015 road map.
They will explore
innovations and milestones that have sustained IBM's growth for a century. But
more importantly, they will examine the values, the distinctive mindset, the
organizational culture and the leadership traits that will lead us into the
next century. Second, they want their clients – existing and potential – to be
well versed with their unmatched strengths in technology, creating business
value and enabling global transformation through their smarter planet agenda
which has in the past demonstrated what they can deliver. Third, they want
their other stakeholders including communities, governments and neighbors, to
fully appreciate the core of their being and the deeper ambitions that have
always guided IBMers – a company committed to make a difference in communities
they call home and partnering on the national agenda. Their centennial is
grounded in a core set of ideas, exploring three important dimensions of what
IBM has always been about -- 1) Pioneering the Science of Information 2)
Reinventing the Modern Corporation and 3) Making the World Work Better. In the
next few weeks and months, you will hear a lot about these themes during their
various Centennial programs. You will begin to see how these will be a powerful
way to define their identity, and to engage the world in a meaningful
conversation about the future.
AWARDS
IBM India was
recognized as a thought and practice leader on gender diversity by National
Association of Software and Services Companies (NASSCOM) at their 2010
Diversity and Inclusivity Forum. They also won the Best Gender Inclusive
Employer in IT Products and Services.
IBM India was
conferred the ‘ Golden Peacock Environment Management Award and Golden Peacock
HR Excellence Award for the year 2011’ under the Chairmanship of Justice P N
Bhagwati, former Chief Justice of India and Member, UN Human Rights Commission.
They have clinched environment award for the second time in a row justifying
their commitment as an organization to solve EMS issues.
In the
Dataquest-IDC Customer Satisfaction (CSAT) survey, IBM serverswere ranked #1.
IBM also scored the highest Post Sales Service score ('Parts availability' and 'Technical
expertise' gaining the maximum score). Close on the heels of this recognition,
the CRN Channel Champions for 2010 and Channel World Most Valued Principals
survey also ranked us #1 in theServercategory for 2010 from a channel point of
view.
CONTINGENT
LIABILITIES:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Sales tax, Service tax and other matters |
1445.098 |
1445.098 |
|
Income Tax matters under dispute [Amount paid under protest Rs.4,998,617
(2010: Rs.705,429) disclosed under Loans and Advances] |
5667.415 |
1934.814 |
|
Notes: (i) The above
amount comprises disputed taxes principally on account of transfer pricing
adjustment made by the Tax Authorities under Section 92CA of the Income Tax
Act, 1961. The Company has been advised that it has a good defence in respect
of the disallowances and adjustments made. (ii) Contingent
Liabilities disclosed above represent possible obligations where it is not probable
that an outflow of resources embodying economic benefits will be required to
settle the obligations. |
||
FIXED ASSETS
- Goodwill
- Computer Software
- Leasehold Improvements
- Plant and Machinery
- Computer Equipments
- Furniture and Fixture
- Vehicles
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 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.54.88 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.