|
Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
PITNEY BOWES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
45, 2nd Floor, Okhla Industrial Estate, Phase III,
New Delhi - 110020 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.04.2004 |
|
|
|
|
Com. Reg. No.: |
55-126016 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 99.008
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200DL2004PTC126016 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP10772G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP3417C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of franking machine for
eve dining payment of postage or stamp duty under license and also offers
high end mail stream solution, sale spares parts for those machine besides
providing after sales service. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Pitney Bowes International Holding Inc.”.
It is an established company having moderate track record. The company has reported a loss from its operations during 2013, due
to which the position of reserves has seen a sharp deterioration. However,
there appear no external borrowings recorded in the books. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of strong holdings, the subject can be considered for business
dealings with some caution. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered/ Head Office : |
45, 2nd Floor, Okhla Industrial Estate, Phase III,
New Delhi - 110020 |
|
Tel. No.: |
91-11-42195598 |
|
Fax No.: |
91-11-42195580/ 42195505 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Southern Regional Office : |
200, Peters Road, Royapettah, Chennai - 600014, Tamilnadu,
India |
|
Tel. No.: |
91-44-28510877/ 28526534/ 42697090 |
|
Fax No.: |
91-44-28592418 |
|
E-Mail : |
|
|
|
|
|
Eastern Regional Office : |
7 Red Cross Place, Kolkata - 700001, West Bengal, India |
|
Tel. No.: |
91-33-22317242/ 22489547 |
|
Fax No.: |
91-33-22317242 |
|
E-Mail : |
|
|
|
|
|
Western Regional Office : |
Gresham Assurance House, Sir Phirozeshah Mehta Road, (Above Grindlays Bank), Fort, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22640450/ 51/ 52/ 53 |
|
Fax No.: |
91-22-22640454 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Kalengada Mandanna Nanaiah |
|||||||||||||||||||||||||||
|
Designation : |
Managing director |
|||||||||||||||||||||||||||
|
Address : |
B-3, First Floor, Hauz Khas, New Delhi – 110016, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.05.1962 |
|||||||||||||||||||||||||||
|
Qualification : |
MBA |
|||||||||||||||||||||||||||
|
Experience : |
27 Years |
|||||||||||||||||||||||||||
|
Date of Appointment : |
12.01.2005 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAHPN9762H |
|||||||||||||||||||||||||||
|
DIN No.: |
01276050 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Arvind Goyal |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||
|
PAN No.: |
AANPG3955F |
|||||||||||||||||||||||||||
|
DIN No.: |
02122320 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Karthik Kumar Krishnamurthy |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
15, Mount Sinai Rise, #04-03, Kalakaua Rise, Singapore 276906 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.04.1975 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||
|
DIN No.: |
06696058 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Pitney Bowes International Holdings Inc., USA |
|
24749555 |
|
B. Williams Holding Corp., USA |
|
2475 |
|
|
|
|
|
Total |
|
24752030 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of franking machine for
eve dining payment of postage or stamp duty under license and also offers high
end mail stream solution, sale spares parts for those machine besides
providing after sales service. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Reserve Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Love Lock and Lewes Chartered Accountants |
|
Address : |
Building No. 8, 8th Floor, Tower B DLF Cyber
City Gurgaon - 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Fellow Subsidiary company : |
· Group 1 Software Asia Pacific Pte. Limited Pitney
Bowes (Asia Pacific) Pte. Limited Pitney
Bowes Limited Pitney
Bowes Japan Corporation Pitney
Bowes Puerto Rico Pitney
Bowes Australia Pty Limited |
|
|
|
|
Holding company : |
Pitney Bowes International Inc., USA |
|
|
|
|
Ultimate Holding company : |
Pitney Bowes Inc. |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
Pitney Bowes India Private Limited Employees group
Gratuity Scheme |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 275.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,752,030 |
Equity Shares of Rs 10 Each, Rs 4
paid up (Reduced by the order of the High Court) each fully paid up |
Rs. 10/- each |
Rs. 99.008 Millions
|
|
|
|
|
|
NOTE:
In the previous year the company had by special resolution of members
reduced the paid up value of each share from Rs. 10 to Rs. 4 thereby reducing its
share capital from Rs. 247.520 Millions to Rs. 99.008 Millions and the amount
so reduced of each share i.e. Rs. 6 per share is paid back to both the
shareholders. Such resolution was confirmed by High Court vide order dated 30th
September, 2010 and such reduction was registered by Registrar of Companies
vide order dated 3rd December, 2010. After obtaining requisite approval from
Reserve Bank of India vide order dated 15th December, 2010 amount of Rs.
148.512 Millions was paid on 7th February 2011 to Pitney Bowes International
Holding Inc. and Rs. 0.015 Million was paid to B. Williams Corporation.
Further, to the extent of accumulated profits as on the payment date, the
company has paid dividend distribution tax (with interest) as per requirements
of section 2(22) of the Income Tax Act, 1961
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
99.008 |
99.008 |
99.008 |
|
(b) Reserves & Surplus |
10.962 |
56.873 |
25.346 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
109.970 |
155.881 |
124.354 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
18.242 |
0.000 |
0.212 |
|
Total Non-current
Liabilities (3) |
18.242 |
0.000 |
0.212 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
116.949 |
40.032 |
47.146 |
|
(c)
Other current liabilities |
72.288 |
60.384 |
79.134 |
|
(d) Short-term provisions |
7.663 |
26.087 |
12.016 |
|
Total Current
Liabilities (4) |
196.900 |
126.503 |
138.296 |
|
|
|
|
|
|
TOTAL |
325.112 |
282.384 |
262.862 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
21.252 |
45.624 |
35.180 |
|
(ii)
Intangible Assets |
0.000 |
0.250 |
0.900 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.059 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
21.688 |
11.617 |
12.135 |
|
(d) Long-term Loan and Advances |
2.566 |
3.276 |
2.857 |
|
(e) Other Non-current
assets |
0.264 |
0.141 |
1.637 |
|
Total Non-Current
Assets |
45.770 |
60.908 |
52.768 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
80.931 |
46.261 |
63.044 |
|
(c)
Trade receivables |
94.078 |
80.519 |
79.822 |
|
(d) Cash
and cash equivalents |
58.041 |
71.809 |
57.189 |
|
(e)
Short-term loans and advances |
45.401 |
21.810 |
9.969 |
|
(f)
Other current assets |
0.891 |
1.077 |
0.069 |
|
Total
Current Assets |
279.342 |
221.476 |
210.093 |
|
|
|
|
|
|
TOTAL |
325.112 |
282.384 |
262.862 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
318.200 |
385.700 |
339.500 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(28.884) |
69.108 |
58.899 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.099 |
14.313 |
11.360 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
(55.983) |
54.795 |
47.539 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(10.072) |
23.268 |
17.345 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(45.911) |
31.527 |
30.194 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
56.873 |
25.346 |
(3.630) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Corporate Dividend Tax Paid |
0.000 |
0.000 |
1.218 |
|
|
BALANCE CARRIED
TO THE B/S |
10.962 |
56.873 |
25.346 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
13.433 |
4.303 |
0.041 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.85) |
1.27 |
1.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.45)
|
20.24 |
18.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.51)
|
0.35 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.75 |
1.52 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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 involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
GENERAL INFORMATION
Subject is, inter alia, engaged in the Business of franking
machine used by organization for eve dining payment of postage or stamp duty
under license from respective state or central government department. Also the
organization offers high end mail stream solution, sale spares parts for those
machine besides providing after sales service.
PERFORMANCE
During the period,
the Company has achieved a turnover of Rs. 339.500 Millions and earned a Profit
after tax of Rs. 30.100 Millions as against the turnover of INR 318.200
Millions and loss of INR 0.459 Million during the previous financial year.
FUTURE OUTLOOK OF THE COMPANY
The Company is
progressing well and expects robust growth in the business with the launch of
Mega and Software products in the coming year.
FIXED ASSETS:
· Plant and equipment
Other
plant and equipment
Furniture
and fixtures
Office
equipment
Computer
equipments
Other
equipments
Leasehold
improvements
Plantations
Goodwill
Computer
software
PRESS RELEASES:
PITNEY BOWES
HONORED AS A GREAT PLACE TO WORK IN INDIA FOR THE THIRD TIME
June 25, 2013
Ranked Among the Top 50 Great Places to Work by the ‘Great Places To
Work Survey 2013’
NEW DELHI, June
25, 2013 - Pitney Bowes Inc. (NYSE: PBI), a global technology company and a
leader in innovation has been ranked as one of the top 50 best places to work
in India by the Great Places To Work Institute in their 2013 survey. This is
the third time that Pitney Bowes has received this honor in its six years of
operations in India. This recognition is an acknowledgement of the core values
of Pitney Bowes which are profoundly aligned within their work culture.
In its tenth year, India's Best Companies to Work for Study - 2013, the
largest study in the country on workplace culture, attracted participation from
550 organizations spanning 22 industries. Great Place to Work Institute India
surveyed 98,998 employees as a part of this research and conducted an in-depth
analysis of people practices and their efficacy in all participating
organizations. Other companies to feature on the India's Best Companies to Work
for Study, include Google India Private Limited, Intel Technology India Private
Limited, American Express India Private Limited and NIIT Limited.
“Pitney Bowes India serves as an inspiration to our operations around
the world,” said Johnna Torsone, Executive Vice President and Chief Human
Resources Officer at Pitney Bowes. “Our teams in India demonstrate the spirit,
dedication and core values of our global brand. This honor means a great deal
to us as we consistently strive to improve our organization.”
Sharing his views on this honor, Manish Choudhary, Vice President,
Research and Development and India Operations, Pitney Bowes said, “We are
delighted by this win, it is yet another milestone in our remarkable success
story in India. By making talent a strategic priority, we have been able to
strengthen our position in the country in a short span of time. Our strong focus
on culture, morale, right talent management and diversity and inclusion
practices has differentiated us in the market.”
Pitney Bowes is receiving this honor for the third consecutive year
since its inception in India in 2007. It is a testament to the fact that the
organization sees immense value in fostering a great work culture and
implementing best practices in talent management, globally.
About Great Places To Work Institute
Great Place to Work Institute is a global research, consulting and
training firm that helps organizations identify, create and sustain great
workplaces through the development of high-trust workplace cultures. Their
clients are those companies and organizations that wish to maintain Best
Company environments, those that are ready to dramatically improve the culture
within their workplaces, and those in between the two. They know that
organizations that build trust and create a rewarding cycle of personal
contribution and appreciation create workplace cultures that deliver outstanding
business performance.
About Pitney Bowes
Pitney Bowes provides technology solutions for small, mid-size and large
firms that help them connect with customers to build loyalty and grow revenue.
Many of the company’s solutions are delivered on open platforms to best
organize, analyze and apply both public and proprietary data to two-way
customer communications. Pitney Bowes includes direct mail, transactional mail
and call center communications in its solution mix along with digital channel
messaging for the Web, email and mobile applications. Pitney Bowes has
approximately USD$5 billion in annual revenues and 27,000 employees worldwide.
Pitney Bowes: Every connection is a new opportunity™. www.pb.com.
IT FIRM PITNEY
BOWES SETS UP CENTER FOR R&D IN PUNE
May 23, 2012
US based IT firm Pitney Bowes Inc has set up a research and development center in Pune which will focus on research and development for its global portfolio, including a digital mailbox solution Volly.
This is company's second centre in India followed by Noida.
The center will allow Pitney Bowes Inc. to expand capacity for local and
global business demands.
There are around 200 employees working for this facility in Pune.
Commenting on this, Manish Choudhary, managing director, Pitney Bowes
Software India said, "Pune has a strong talent pool and is a mature
software product development destination.
It boasts of 12 per cent of Software Product Development headcount in
India, is an education and research hub and this is one of the main reasons why
we chose to set up our second R&D Centre here.
With the opening of Pune centre, we hope to incubate, sustain and
support local talent and maintain high quality of contributions and value to
Pitney Bowes globally."
Pitney Bowes Software has been present in India since 2007, and is
headquartered in Noida.
It offers location intelligence, data management, customer communication
management, and predictive analytics solutions.
With Pitney Bowes India, more than 600 employees working across
business units.
CORE STRENGTH OF
PITNEY BOWES AND INDUSTRY FOCUS
Friday, 26 April
2013
Bangalore : Pitney Bowes
India is a part of Pitney Bowes Inc., a U.S. based $5Bn Fortune 500 Company and
a leading provider of customer communication management solutions. They are
pioneers in franking technology and continue to enjoy a dominant position in
the Franking machine market globally. After starting direct operations in
India, Pitney Bowes has invested in building the right infrastructure for
enhancing customer experience of using PB products.
The broader aspects of customer communication management begin with the
consolidation of data or message and ends with delivery to the end recipient.
Pitney Bowes has end to end solutions starting from document composition to
getting the mail piece ready for dispatch. These solutions also ensure that the
recipient of the communication receives it in the form he wishes to receive.
Some may want it in a physical form, some may prefer to keep it in digital form
and the rest may opt for a combination of both. Pitney Bowes specializes in
solutions according to customer's needs through a combination of highly
customized turnkey and off the shelf solutions. K.M Nanaiah, Managing Director
of Pitney Bowes India says, "The first impression that you make with your
mail should always be the right one."
There are various aspects of customer communications that come into force in
the market. For example, statements sent by Banks and Telecom companies or the
mail that businesses send to its customers, it is imperative to use the right
technology to ensure that integrity and data confidentiality is maintained.
Using manual process means that a mail is folded, enveloped and addressed
manually, this consumes time and quality of finished mail piece would also not
be consistent. By the time it reaches the recipient, he receives it in a
crumbled and untidy manner without a right finish. When a customer receives
such a service, he is unsure of using the service again.
Technology Trends Adopted by the
Company
Technology has evolved over the years. Pitney Bowes products and solutions have also evolved with the change in technology trends. Pitney Bowes India have come up with digital franking machines, where the postage can be refilled online without having to make a trip to a post office.
Pitney Bowes have a suite of equipment and software solutions that help
businesses streamline their customer communication management processes to help
them provide multiple channel delivery options (Physical, Digital, Online,
SMS).
Most Recent Launch by the Company
High Speed Digital Postage Franking Machines is the recent launch by the company. Here, the postage money can be refilled online into the machine with no trips to post office.
The tariff gets automatically calculated once you place the mail piece on the
platform. Place the mail on the platform, decide the location and the type of
mail whether it is speed post, registered post etc., and the postage is
calculated and printed automatically. Deposit the funds in your account;
connect the franking machine to the network and download part of it on the
franking machine as and when you require it. There is a lot more convenience
that comes with the launch of the new postage digital machines.
PITNEY BOWES
LAUNCHES HIGH-SPEED DIGITAL FRANKING MACHINES IN INDIA
NEW DELHI, May 30, 2013
Redefines Franking
Technology With the New MegaTM Series
Pitney Bowes, a global leader in mailstream and document management
solutions, introduces a new generation of high-speed digital franking machines,
MegaTM series for the Indian market. This is in accordance with the 30th June 2013 deadline issued by India
Post to replace older technology franking machines with the latest
digital franking machines equipped with advanced speed, security and
transparency features like generation of 2D barcode. A key benefit to users is
convenience as the technology supports remote credit uploads or refills without
manual intervention.
The Pitney Bowes MegaTM series comes in 3 models - DM 550i, DM 800i and
DM 1100i with speeds up to 290 mailpieces per minute. The MegaTM series have
been approved by Department of Posts (DoP) and Pitney Bowes manages the
Remotely Managed Franking System (RMFS) server and the equipment associated
with it.
"With the launch of high-speed digital franking machines, Pitney
Bowes now offers a full spectrum of the latest digital franking technology to
cater to the needs of mid-size offices as well as the mass mailing segment. The
online refill feature is a valued benefit to commercial mailers as it provides
uninterrupted mail franking service and saves time," says Mr. K.M.
Nanaiah, Managing Director of Pitney Bowes India.
The innovative MegaTM series allows users to frank up to Rs. 9999.99 and
has added security like 6-digit, alphanumeric password for machine locking and
funds downloading. These new features meet customers' needs, save time and
provide convenience. With such flexibility and efficiency, MegaTM is expected
to play a strategic role in the mailrooms of banks, telcos, corporate and
government offices.
The new MegaTM series comes with an optional add-on weighing platform.
This feature caters to businesses with heavy mail items, such as e-commerce
merchants.
REDEFINES FRANKING
TECHNOLOGY WITH THE NEW MEGA™ SERIES
PITNEY BOWES
LAUNCHES HIGH SPEED DIGITAL FRANKING MACHINES IN INDIA
New Delhi — February 14, 2013:
Pitney Bowes, a global leader in mailstream and document management
solutions introduces a new generation of high-speed digital franking machines, Mega™ series for the Indian market.
This is in accordance with the 30th June 2013 deadline issued by India Post to
replace older technology franking machines with the latest digital franking
machines equipped with advanced speed, security and transparency features like
generation of 2D barcode. A key benefit to users is convenience as the
technology supports remote credit uploads or refills without manual
intervention.
The Pitney Bowes Mega™ series comes in 3 models - DM 550i, DM 800i & DM
1100i with speeds up to 290 mailpieces per minute. The Mega™ series have been
approved by Department of Posts (DoP) and Pitney Bowes manages the Remotely
Managed Franking System (RMFS) server and the equipment associated with it.
“With
the launch of High-speed digital franking machines, Pitney Bowes now offers a
full spectrum of the latest digital franking technology to cater to the needs
of mid-size offices as well as the mass mailing segment. The online refill
feature is a valued benefit to commercial mailers as it provides uninterrupted
mail franking service and saves time,” says Mr. K.M. Nanaiah,
Managing Director of Pitney Bowes India.
The innovative Mega™ series allows users to frank up to Rs9999.99 and has added
security like 6-digit, alphanumeric password for machine locking and funds
downloading. These new features meet customers’ needs, save time and provide
convenience. In addition, the highly intelligent “WOW” (Weigh on the Way)
functionality allows processing of mail in mixed weights and sizes as they are
measured and franked appropriately on the go. With such flexibility and
efficiency, Mega™ is expected to play a strategic role in the mailrooms of
banks, telcos, corporate and government offices.
The new Mega™ series comes with an optional add-on weighing platform. This
feature caters to businesses with heavy mail items, such as e-commerce
merchants.
About Pitney Bowes
Pitney Bowes provides technology solutions for small, mid-size and large firms
that help them connect with customers to build loyalty and grow revenue. The
company’s solutions for financial services, healthcare, legal, nonprofit,
public sector and retail organizations are delivered on open platforms to best
organize, analyze and apply both public and proprietary data to two-way
customer communications. Pitney Bowes is the only firm that includes direct
mail, transactional mail, call centers and in-store technologies in its
solution mix along with digital channels such as the Web, email, live chat and
mobile applications. Pitney Bowes has approximately USD$5 billion in annual
revenues and 27,000 employees worldwide. Pitney Bowes: Every connection is a
new opportunity™. www.pb.com
About Pitney Bowes India Private
Limited
Pitney Bowes India Private Limited is part of Pitney Bowes Inc. and is the only
mail stream solutions provider with a direct presence in India. As the leading
provider for pre and post-print solutions and equipment, its 7 offices serve
over 12,000 customers including large enterprises and small-medium businesses.
PITNEY BOWES INDIA
INTRODUCES LOBBYTRAC™
Pitney Bowes India
introduces LobbyTrac™ - a high security visitor management system for
corporates and offices
New Delhi — April 11, 2012:
Pitney Bowes India, a part of Pitney Bowes Inc. (NYSE: PBI), the global
technology company launched LobbyTrac™ visitor management solutions. These
innovative security solutions are designed to enhance the security set-up
through the first level of control and management, essential for protecting
critical assets and infrastructure. LobbyTrac™ visitor management solutions
offer an effective, easy to manage option to help with visitor management,
tracking, regulating and enforcing security across all critical installations,
offices, buildings, government offices, etc.
This new suite of Visitor Management Solutions is designed to meet the diverse
security needs of public and private organizations and has been delivered
through Pitney Bowes’ Solutions Factory, a dedicated team of developers
leveraging Pitney Bowes’ patented technologies to customise solutions for the
specific needs of local clients under the Growth Markets region.
According to Mr. KM Nanaiah Managing
Director – Pitney Bowes India, “Organizations are constantly faced with
the challenge of managing visitor entry into their facility. Providing
selective access to visitors even on an ad hoc basis and restricting access
only to approved areas is becoming even more complex to administer. Given the
need to enhance security, reduce interceptions in work place and potential
security breaches, the need for a technology-based solution that would allow
movement of visitors to be managed and regulated - especially in critical areas
of the building or facility is quite evident. Today, more and more
organisations see the need to manage visitor activity. With the launch of
LobbyTrac™ Visitor Management Solutions, organisations can address these concerns
without having to make structural changes in order to implement a comprehensive
visitor management system ”.
The security appliances market in H1 2010 was $61 mn and the market is growing
a CAGR of 18% since 2007 and is estimated to reach $180 mn by 2012. This growth
has been fuelled by increased spending on security infrastructure and solutions
especially by verticals like IT/ITeS, government and BFSI. The trend in the
market is now towards integrated security solutions rather than standalone applications.
(Source: IDC India: Customer Satisfaction Audit 2011)
LobbyTrac™ offers customized Visitor Management Solutions that streamline the
process of visitor management and empower organizations to control access to their
facilities. Visitor information is accurately and quickly captured for easy
tracking while maintaining confidentiality, reducing the risks of security
breaches.
Said Mr. Ranvir Singh, Vice President,
Solutions Factory - Pitney Bowes Asia Pacific, Middle East, Africa & Latin
America, “Managing the access of unauthorized personnel into a facility
continues to be a major concern for companies worldwide. LobbyTrac™ Visitor
Management Solutions are customized to manage visitor activity and meet the
needs of various types of organizations, such as government agencies,
hospitals, corporations and schools. These organisations are able to quickly
and effectively implement the solutions to monitor and track visitor activity,
enhance overall security as well as their corporate image.”
· The LobbyTrac™ suite of Visitor Management Solutions comprises the following: LobbyTrac™ Assist
LobbyTrac™
Access
LobbyTrac™
Entry (available soon)
LobbyTrac™ Assist – An Affordable Web-based Solution for Staffed Receptions
LobbyTrac™ Assist is an affordable, easy-to-use system designed to help public
and private institutions maintain control and more effectively manage visitor
activity. It can be installed on any desktop manned by a receptionist, to
capture visitor information and track visitors, providing closed loop security
on every visit made to a facility.
LobbyTrac™ Assist utilizes Pitney Bowes’ proven Arrival® software to maintain a
visitor’s log, capturing pertinent visitor information for easy registering,
tracking and reporting. It also stores information on repeat visitors, complete
with photo and signature.
In addition to tracking visitors and employees, LobbyTrac™ Assist provides
closed loop accountability for important items delivered to the lobby by
scanning the package upon receipt by the receptionist and capturing the
signature of the person picking up or delivering the item.*
Simple to install, use and manage, this solution is ideal for corporate
offices, diplomatic organizations, government agencies, hospitals and school
campuses.
LobbyTrac™ Access – A User-friendly
All-in-One Solution – Ideal for Independent Visitor Registration or Complement
to Staffed Receptions
Offering all the functionality of LobbyTrac™ Assist plus many more features,
LobbyTrac™ Access is an all-in-one security system that quickly and efficiently
processes visitors entering and leaving buildings.
LobbyTrac™ Access features a user-friendly touchscreen monitor and easy
step-by-step visual instructions and audio cues. Visitors can hence expedite
the registration process independently without staff involvement. The device is
also equipped with a built-in ID and barcode scanner, label printer, camera and
speaker, with minimal additional hardware or cables required.
LobbyTrac™ Access, simplifies the sign-in and sign-out process, capturing and
storing visitor and employee information to a secure database offsite. Visitor
data is easily captured upon arrival. Information on repeat visitors, including
photo and signature is automatically retrievable, saving time in validating
their identity. Frequent visitors are registered and issued a barcoded frequent
visitor keytag which enables registration to be completed in seconds.
LobbyTrac™ Access also prints a unique photo ID barcoded badge and runs instant
background checks against an organization’s own red flag list of restricted
individuals. It automatically sends an email or text message to the employee
with information of the guest’s arrival. In addition, it accurately generates
timesheets for employees and volunteers as well as various reports such as the
list of visitors currently logged in as well as customized reports by date
range to show visitors’ history.
Slim and ultra-modern in design, LobbyTrac™ Access is available in three display
options: on a desktop, attached to an optional stand or mounted onto the
wall**. It is suitable to be deployed in large facilities such as colleges,
corporations, correctional facilities, government agencies, hospitals and
clinics, real estate management companies, schools, and tertiary institutions.
LobbyTrac™ Entry – A Compact, Versatile and Affordable System for Guest
Registration
LobbyTrac™ Entry represents the new direction in visitor registration utilizing
the latest microkiosk technologies and software. It features a highly flexible
system with multiple hardware options based on an agile and lightweight
software, and can be adapted for different uses.
LobbyTrac™ Entry is suitable for a reception with staff on hand to manage the
sign-in and sign-out of guests. The system has the ability to capture photo of
guests along with location, date and time of entry into the facility*. It is
also able to perform ID scans and print badges for guests*. With integrated
access to the staff directory, email alerts or text messages can also be sent
to staff to inform them about the arrival of guests.
Compact in design, LobbyTrac™ Entry is ideal for visitor registration in places
such as showrooms, open houses, corporate receptions, hotels, restaurants, and
at events.
LEAD PROCESS
INNOVATION IN HUMAN RESOURCE MANAGEMENT
Pitney Bowes
pbSecureTM to create tamper-proof documents for Wipro
New Delhi — September05, 2012:
Pitney Bowes (Asia Pacific) today announces that their recently launched
pbSecureTM evidencing platform will be used by the IT Business of Wipro Limited
(NYSE-WIT) to create and authenticate secure official communication from the
company for employees. As a leading Global Information Technology, Outsourcing
&Consulting company, Wipro handles a high volume of HR related employee
communication andpbSecure™ suits this requirement well as an easy-to-deploy
solution to create tamper-proof and verifiable documents related to employees
and their employment information.
pbSecure™ was recently launched by Pitney Bowesfor customers in the Growth
Markets region. It is an effective, proven and customizable system that secures
data at the point of origin, built on the ingenuity of Pitney Bowes patented
cryptography/encryption technology.
Wipro has adopted the pbSecure™ platform to create, process and secure
important employee data. “pbSecure™ is a game-changer to the employment
ecosystem. In addition to improved process efficiency and time savings, one can
be assured that the information contained in documents created by pbSecure™ is
authentic and tamper-proof,” said Saurabh Govil, Senior Vice President - Human
Resources, IT Business, Wipro Technologies.
“In this information age, every organisation and its staff have to process
financial accounts, data on goods and products, identities, resumes on a daily
basis. How can one ensure that the information or products received and used
are authentic and tamper-proof? How do we significantly reduce or eliminate
such risks?” said Mr. Eric Yves-Mahe, President of Pitney Bowes Growth Markets.
He added, “Pitney Bowes has been innovating in the area of secured evidencing
throughout its 90-year history. pbSecure™ is our latest fraud-prevention
innovation designed to prevent and detect data tampering. Companies and
businesses now have a solution to protect the community, their products, their
brands and their customers.”
“Engaging Pitney Bowes as a strategic partner for implementing the pbSecure TM
technology platform will significantly help Wipro improve its process controls
and risk management by ensuring data authenticity of employee credentials and
prevent data tampering. Reducing the risk of fraudulent cases is critical to
Wipro and our customers.” said N S Bala, Senior Vice President and Global Head
– Manufacturing and Hi-Tech, Wipro Technologies. “This initiative is an
important undertaking for both organizations and expands the scope of the
strategic partnership between Wipro and Pitney Bowes across the solution
portfolio globally”.
Developed with technology that has been advanced and perfected over 90 years,
pbSecure™ is unlike other fraud-prevention solutions available in the market
that focuses on ‘paper’ security through the use of holograms, special inks or
microprints. pbSecure™ scans, processes and secures the ‘information’ at point
of creation and makes the document tamper-proof. Documents and product data
secured by pbSecure™ can be verified for authenticity both in an on- or offline
mode, which means the data is kept private.
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 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. 61.18 |
|
|
1 |
Rs. 100.01 |
|
Euro |
1 |
Rs. 83.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.