1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Nokia India Private Limited |
Principal Name 1 |
Mr. Shivakumar
Pullaya Dega |
|
Status |
Good |
Principal Name 2 |
Mr. Nikhil Mathur |
|
|
|
Registration # |
55-068904 |
|
Street Address |
Flat No. 1204, 12th
Floor, |
||
|
Established Date |
23.05.1995 |
SIC Code |
-- |
|
Telephone# |
91-11-26779191/
43215330 |
Business Style 1 |
Assembling |
|
Fax # |
91-11-26779090 |
Business Style 2 |
Manufacturing |
|
Homepage |
Product Name 1 |
Cellular mobile telephone |
|
|
# of employees |
Not Available |
Product Name 2 |
Development |
|
Paid up capital |
Rs. 356,000,000/- |
Product Name 3 |
Software related to cellular mobile phones |
|
Shareholders |
Foreign holdings- 100% |
Banking |
The Hong Kong and Shanghai Banking Corporation Limited |
|
Public Limited Corp. |
No |
Business Period |
18 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Aa
(76) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary |
-- |
Nokia Mobile Payment Service India Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
89,206,000,000 |
Current Liabilities |
43,592,000,000 |
|
Inventories |
9,286,000,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
5,464,000,000 |
Other Liabilities |
1,635,000,000 |
|
Deferred Assets |
1,182,000,000 |
Total Liabilities |
45,227,000,000 |
|
Invest& other Assets |
667,000,000 |
Retained Earnings |
60,222,000,000 |
|
|
|
Net Worth |
60,578,000,000 |
|
Total Assets |
105,805,000,000 |
Total Liab. & Equity |
105,805,000,000 |
|
Total Assets (Previous Year) |
127,427,991,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales (Total Income) |
245,034,000,000 |
Net Profit |
8,141,000,000 |
|
Sales(Previous yr) (Total Income) |
278,524,700,000 |
Net Profit(Prev.yr) |
8,208,800,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NOKIA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 1204, 12th
Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.05.1995 |
|
|
|
|
Com. Reg. No.: |
55-068904 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 356.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC068904 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELN05529G DELN06295C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN2170R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the
business of assembling , manufacturing, marketing, distributing, buying,
selling, importing, exporting, repairing of cellular mobile telephone and
development of software related to cellular mobile phones. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (76) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 240000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of worldwide nokia group. It is well established company having a good track record. Management has
failed to file the latest financials of 2013 with the government department
as per available record, there appears slight dip in its sales during
2011-2012. However, general financial position seem to be strong. Performance
capability is high. Liquidity position is good. There appears no external
borrowing. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. In view of experience promoters the company can be considered for normal
business dealings at usual trade terms and condition. |
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
Office : |
Flat No. 1204, 12th
Floor, |
|
Tel. No.: |
91-11-26779191/
43215330 |
|
Fax No.: |
91-11-26779090 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
1st and 2nd Floor, ‘A’ SP Infocity, Industrial
Plot No. 243, Udyog Vihar, Phase 1, Dundahera, Guregaon-122016, |
|
Tel. No.: |
91-124-4833000 |
|
Fax No.: |
91-124-4833099 |
|
|
|
|
Corporate
Office : |
4th Floor,
Commercial Plaza, Radisson Complex, National Highway No. 8, Mahipalpur, New
Delhi – 110032, Delhi, India Tel. No.: 91-11-26784100/ 51779000 Fax No.: 91-11-26779149 / 52227420/ 51779145/
42999050 E-Mail :pv.subba
rao@nokia.com Website :http://www.nokia.co.in Location : Commercial
Nokia Corporate Office –
Tel. No.: +1 914 368 0400 Nokia Latin
Nokia South
Nokia
|
|
|
|
|
Nokia
Networks: |
701,
Broadway Business Center, Ellisbridge, Law Garden Ahmedabad – 380 006,
Gujarat, India 2B, Mercury Block, Prestige Tech Park, Sarjapur, Marathalli
Ring Road, Kadabeesanahalli, Varthur Hobli, Bangalore -560103, Karnataka,
India Fax No.: 91-80-4015 9999
Tel. No.: 91-80-40159000 Fax No.: 91-80-40159999
Tel. No.: 91-80-66656800
Tel. No.: 91-674-3018120 Fax No.: 91-674-3018108
Industrial plot #243, Udyog Vihar, Dundahera, Gurgaon
- 122016,
3F, Tower II, Millennium City, IT Park, Plot no 62, Block DN, Sec V, Bidhan Nagar, Salt Lake, Kolkata -700091, West Bengal, India Tel. No.: 91 33 4006 2264 Fax No.: 91 33 4006 2260
Tel. No.: 91-22-67769000 Fax No.: 91-22-67769009
Vatika Business Centre, Suite No.6, Level 5, C Wing, Tel. No.: 91-20-40111195 Fax No.: 91-20-40111045 RMZ Millenia Business Park, Campus-5, 2nd Floor, No. 143, M.G.R. Road, North Veeranam Salai, Perungudi, Chennai – 600 096, Tamil Nadu, India Tel No.: 91-44-66530100 Fax No.: 91-44-66530301 SP Infocity, Plot #243, Udyog Vihar Phase-I, Dundahera, Gurgaon Haryana- 122016 Gurgaon, India Tel No.: 91-012-44833000 Fax no.: 91-012-44833098 Kailash Building, Flat no 1204, 12th Floor, Kasturba Gandhi Marg, New Delhi – 110 001, India A SEZ Unit Bldg 2c, Ground Floor Vrindhavan Techvillage Sarjahpur Outer Ring Road, Bangalore – 560087, Karnataka, India A SEZ Unit Bldg 2A, 5th and 6th Floor Vrindhavan Techvillage Sarjahpur Outer Ring Road, Bangalore – 560087, Karnataka, India |
|
|
|
|
Regional
Offices: |
Located at: North Regional Office: · Haryana ·
West Regional Offices: · Andheri, Mumbai · Mhape, Navi Mumbai · Ahmedabad · Pune East Regional Offices: · Kolkata ·
South Regional Offices: ·
·
· Chennai · Tamilnadu |
|
|
|
|
Overseas
Office: |
Located at: ·
·
·
·
·
·
·
·
·
·
|
|
|
|
|
Branches : |
Nokia Telecom Sez, Phase III, A1, National Highway 4, Sriperumbudur,
Chennai – 602105, Tamilnadu, India Also Located at ·
·
Ahmedabad ·
Mumbai
(Tel No.:91-22-33286000) ·
Bangalore |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Shivakumar
Pullaya Dega |
|
Designation : |
Managing Director |
|
Address : |
LTH – 304, B
Laburnum, Condominium Complex, Sector – 28, Gurgaon-122002, Haryana, India |
|
Date of
Birth/Age : |
22.09.1959 |
|
Date of
Appointment : |
01.07.2006 |
|
DIN No. : |
00364444 |
|
PAN No.: |
AHBPD5002D |
|
|
|
|
Name : |
Mr. Nikhil Mathur |
|
Designation : |
Director |
|
Address : |
N-214, First Floor, Greater Kailash-I, New Delhi-110048, |
|
Date of Birth/Age : |
25.03.1967 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No. : |
02333709 |
|
PAN No.: |
ADYPM2063N |
|
|
|
|
Name : |
Mr. Prakash Katma |
|
Designation : |
Director |
|
Address : |
10A/16, V G M Street, Nungambakkam Chennai-600034, |
|
Date of Birth/Age : |
21.10.1976 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No. : |
03268635 |
|
PAN No.: |
ARGPK1228H |
|
|
|
|
Name : |
Mr. Ramkrishna Subbaraman |
|
Designation : |
Director |
|
Address : |
A-103, Belvedere Towers, DLF City Phase – 2, Gurgaon – 122002,
Haryana, India |
|
Date of Birth/Age : |
01.12.1955 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No. : |
02091639 |
|
PAN No.: |
ABBPS3826N |
|
|
|
|
Name : |
Mr. Arja Liisa Inkeri Bjorklund |
|
Designation : |
Director |
|
Address : |
A 9A/5, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
02.12.1958 |
|
Date of Appointment : |
20.03.2012 |
|
DIN No. : |
05232464 |
|
PAN No.: |
AYHPB2472N |
KEY EXECUTIVES
|
Name : |
Mr. Pardeep Kumar Dhaka |
|
Designation : |
Secretary |
|
Address : |
104, Sector -9A, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
11.01.1979 |
|
Date of Appointment : |
08.08.2011 |
|
PAN No.: |
APDPK1141A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nokia
Corporation, Finland |
|
35579299 |
|
Nokia Pte
Limited, Singapore |
|
1 |
|
|
|
|
|
Total |
|
35579300 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
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 : |
Subject is engaged in the
business of assembling , manufacturing, marketing, distributing, buying,
selling, importing, exporting, repairing of cellular mobile telephone and
development of software related to cellular mobile phones. |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity* |
Actual Production |
|
|
|
|
|
|
|
Mobiles |
No. |
NA |
250000000 |
125633289 |
* As certified by the management and relied upon
by the auditors, being a technical matter.
Licensed capacity not applicable
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
The Hong Kong and Shanghai Banking Corporation Limited |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered
Accountants |
|
Address : |
Building No.8, Tower B, 7th & 8th Floor, DLF Cyber
City, Gurgaon - 122002, Haryana, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company: |
Nokia Corporation, Finland |
|
|
|
|
Subsidiary Company: |
Nokia Mobile Payment Services India Private Limited |
|
|
|
|
Fellow Subsidiaries: |
·
Nokia Pte Limited, Singapore ·
Intellsync Corporation, United States ·
Navteq India Private Limited, China ·
Navteq India Private Limited, India (CIN: U72900MH2008FTC178295) ·
Nokia (China) Investment Private Limited, India (CIN: U72900MH2008FTC178295) ·
Nokia (H.K.) Limited, Hong Kong ·
Nokia Asset Management Oy, Finland ·
Nokia Australia Pty Limited, Australia ·
Nokia Danmark A/S, Denmark ·
Nokia Do BrasilTechnologia LTDA, Brazil ·
Nokia Gate5 Gmbh, Germany ·
Nokia Gmbh, Germany ·
Nokia HCL Mobile Internet Services Limited, India
(CIN: U74900DL2009PLC188379) ·
Nokia Inc., United States ·
Nokia India Sales Private Limited, India (CIN: U51101DL2008PTC185863) ·
Nokia International Mozambique, Mozambique ·
Nokia International OY, Finland ·
Nokia Japan Company Limited, Japan ·
Nokia Komarom KFT, Hungary ·
Nokia Maroc S.A.R.L., Morocco ·
Nokia Pakistan Mobile Private Limited, Pakistan ·
Nokia Products Limited, Canada ·
Nokia Romania S.R.L., Romania ·
Nokia Siemens Tietollikente Oyj., Finland ·
Nokia Siemens Networks Oy, Finland ·
Nokia Telecommunications Limited, China ·
Nokia TMC Limited, Korea , Republic of ·
Nokia UK Limited, United Kingdom ·
Nokia West Africa (Nigera) Limited, Nigeria ·
NSN Private Limited. ·
PT Nokia Siemens Networks, Indonesia ·
Nokia Mexico, Mexico ·
Nokia Siemens Networks Sp z.o.o., Poland ·
Nokia Malaysia, Malaysia ·
Symbian Software India Private Limited, India (CIN: U64202KA2004FTC035097) ·
Symbian Software Limited, United Kingdom ThumspeedIndia Private Limited, India ·
(CIN:
U72200MH2005FTC150620) ·
Nokia Siemens Networks Private Limited, India (CIN: U72900DL2006PTC155149) |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36000000 |
Equity Shares |
Rs.10/- each |
Rs.360.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35579300 |
Equity Share |
Rs.10/- each |
Rs.355.793
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36000000 |
Equity Shares |
Rs.10/- each |
Rs.360.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35600000 |
Equity Share |
Rs.10/- each |
Rs.356.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
356.000 |
355.793 |
355.793 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
60222.000 |
52081.067 |
43872.311 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
60578.000 |
52436.860 |
44228.104 |
|
|
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
|
60578.000 |
52436.860 |
44228.104 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
5464.000 |
6232.356 |
7051.387 |
|
Capital work-in-progress
|
399.000 |
311.513 |
249.590 |
|
|
|
|
|
|
|
INVESTMENT
|
268.000 |
10.099 |
0.100 |
|
DEFERREX TAX ASSETS
|
1182.000 |
1393.508 |
1087.776 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
9286.000
|
11533.381
|
11144.737
|
|
|
Sundry Debtors
|
65922.000
|
74774.679
|
52416.641
|
|
|
Cash & Bank Balances
|
16422.000
|
11148.795
|
15007.108
|
|
|
Other Current Assets
|
36.000
|
0.000 |
0.000 |
|
|
Loans & Advances
|
6826.000
|
22023.660
|
20952.937
|
Total Current Assets
|
98492.000
|
119480.515
|
99521.423
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
42269.000
|
29832.015
|
28560.306
|
|
|
Other Current Liabilities
|
1323.000
|
27111.496
|
19825.840
|
|
|
Provisions
|
1635.000
|
18047.620
|
15296.026
|
Total Current Liabilities
|
45227.000
|
74991.131
|
63682.172
|
|
Net Current Assets
|
53265.000
|
44489.384
|
35839.251
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
60578.000 |
52436.860 |
44228.104 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
245034.000 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
245034.000 |
278524.700 |
262564.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
231159.000 |
264667.700 |
245702.300 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
231159.000 |
264667.700 |
245702.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13875.000 |
13857.000 |
16861.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.000 |
33.700 |
12.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13845.000 |
13823.300 |
16849.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2391.000 |
3097.700 |
3172.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11454.000 |
10725.600 |
13676.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3313.000 |
2516.800 |
378.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8141.000 |
8208.800 |
13297.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods |
115902.000 |
143332.776 |
126574.124 |
|
|
|
Service Income |
6883.000 |
5811.349 |
5832.966 |
|
|
TOTAL EARNINGS |
122785.000 |
149144.125 |
132407.090 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
134958.000 |
172086.588 |
159469.815 |
|
|
|
Stores & Accessories |
1390.000 |
1886.462 |
1962.508 |
|
|
|
Capital Goods |
887.000 |
-- |
-- |
|
|
|
Others |
-- |
46.826 |
42328.947 |
|
|
TOTAL IMPORTS |
137235.000 |
174019.876 |
203761.270 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
229.00 |
230.72 |
373.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.32
|
2.94
|
5.06
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.63
|
8.53
|
12.83
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.20
|
0.31
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18
|
1.59
|
1.56
|
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 |
No |
|
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
NOTE:
The Registered office
of the company has been shifted from Radisson Complex, Commercial Plaza, 2nd
Floor, National Highway No. 8, Mahipalpur, New Delhi - 110 032, India to
present address w.e.f. 01.11.2010
GENERAL
INFORMATION
Nokia India Private Limited is engaged in the business of assembling ,
manufacturing, marketing, distributing, buying, selling, importing, exporting,
repairing of cellular mobile telephone and development of software related to
cellular mobile phones. The Company has developed a SEZ in Chennai in the name
of Nokia Special Economic Zone for assembling and manufacturing of cellular
mobile phones. The key business segments of the Company are:
Mobile Phone: Mobile phone division is involved in trading and
manufacture of mobile phones, accessories and spares, etc.
Research and Development (R and D) unit: This comprises of R and D unit
at Bangalore. This unit is engaged in research and software development work
relating to mobile phones.
PERFORMANCE OF THE
COMPANY:
The performance of the Company during the financial year 2011-12 was
satisfactory. The revenues of the Company decreased marginally by 12%
(approximately) due to constraining market forces. The Net profit before taxes
has increased by 7% (approximately) as compared to previous year. But despite
of a fall in turnover, as compared to the previous year, the directors of the
Company are very optimistic and confident of an up beating and sustained
operational performance of the Company in the upcoming financial years.
FUTURE PROSPECTS:
The future prospects of the Company seem to be quite promising. The
Company has launched various new models of Mobile phones catering the specific
needs of various sections of consumers into the market. Some of the new
entrants (Nokia Asha series and Nokia Lumia series) among them are already a
big hit throughout the nation. The Company is confident of other models also,
along with those which are yet to be launched into the market.
The Company is planning to launch various smart phones under its
flagship Lumia Series with Windows 8 platform under partnership with Microsoft
and is confident of gaining large market share in smart phone segment.
Besides the bright potential of mobile handset market, the performance
of the services business of the Company is also very encouraging. The internet
services provided by the Company under Ovi Store have successfully established
itself into the market and are growing at tremendous pace. Accordingly, the
Company is planning to enter into few more diversified services sector in its
future years
CONTINGENT
LIABILITIES: (AS on 31.03.2012)
a.
Outstandingbank
guarantees Rs.94.000 Millions (March 31, 2011: Rs 81.000 Millions).
b.
Customs Duty, Income Tax,
FEMA, Sales Tax and Service Tax demands of Rs.5259.000 Millions (March 31, 2011:
Rs 3511.000 Millions). Against this, the Company has deposited a sum of
Rs.611.000 Millions (March 31, 2011:Rs. 654.000 Millions).
c.
The estimated amount of
contracts
d.
Remaining to be executed
on capita laccount and not provided for
as on March 31, 2012 are Rs.79.000 Millions (March 31, 2011:Rs. 351.000
Millions).
FIXED ASSETS
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
PRESS RELEASE
NOKIA INDIA'S OFFER TO PAY RS. 22500.000 MILLIONS REJECTED BY IT
DEPARTMENT
02 DECEMBER 2013
The Income Tax (IT) Department on Monday told the Delhi High Court that the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 22500.000 Millions to it, out of the company's total tax liability of nearly Rs. 65000.000 Millions, is not acceptable.
Nokia India, however, stuck to its offer and said it is for the department to decide if they are better off with the proposed amount or without it.
A bench of justices Sanjiv Khanna and Sanjeev Sachdeva observed "you (Nokia) are offering nothing".
To this, senior advocate Harish Salve, appearing for Nokia, said "we are not in a position to offer more" and added that Rs. 22500.000 Millions is minimum depending upon the outcome of its deal with Microsoft.
Earlier, the mobile handset-maker firm had sought lifting of a stay on transfer of its assets in India saying the court's injunction will jeopardize the sale of its Indian arm to Microsoft under the USD 7.2 billion global deal.
The bench listed the matter for December 9 when Nokia has to give details of its assets and liabilities as well as how much tax it has paid here.
The bench also questioned Nokia India's intention behind sending Rs. 35000.000 Millions to its parent company as dividend of 18 years and asked why the amount should not be brought back here.
The bench made the observation after Nokia said it is exiting the mobile manufacturing business, globally, irrespective of whether its plant in India is sold.
The bench said that earlier Nokia had said it will continue manufacturing of mobiles here and now it is saying its unit in India will be wound up eventually.
"Why did you transfer Rs. 35000.000 Millions abroad? Was it not your intention not to keep liquid assets here? You had Rs. 41000.000 Millions cash here (dividend and tax combined). You repatriate it.
"When they (IT department) attach your bank accounts, you come here. That time you were categorical that manufacturing (here) will go on. Now, there is a change in your stand. So shouldn't the amount (that was repatriated) be brought back to India?" the bench said.
To this, Salve told the court that the amount was repatriated as dividend of 18 years and added that if Nokia were selling its shares to Microsoft then the Indian unit would have continued.
He also said that in a slump sale like this (Nokia-Microsoft deal) cash has to be removed.
The bench also said Nokia is not willing to budge from its stand to which the company responded that "Microsoft is not willing to budge an inch".
Nokia also said the IT department is wrong if they think they are better off with Microsoft not buying and the assets being auctioned off.
It also said its assets in India have "value in use but not value in sale" and the only person who may use it is Microsoft.
"Either they will buy our plant or they will source phones from elsewhere. If Microsoft gets cheaper phones in another country, it will go there," Salve told the court.
"Microsoft may use us or they may not. We have an outer window of 12 months," he said Nokia said it has a current net asset of Rs 23470.000 Millions.
Earlier, the high court had asked the IT department to take a decision on Nokia's offer to pay a minimum deposit of Rs 22500.000 Millions.
The company had submitted that once the sale of its business to Microsoft is completed, it is willing to pay a minimum deposit of Rs 22500.000 Millions as tax and the amount could be higher depending upon the final sale price.
Nokia had said if the sale of its Indian unit in Chennai does not happen, the company will wind up its operations here over a period of 12 months and the assets here will have little value.
Taking note of the plea of the firm, the court had earlier asked the IT department to respond by November 28 to the application that has sought modification in the September 26, 2013 order by which Nokia has been restrained from selling or transferring its ownership rights in India relating to movable and immovable assets.
The high court had, however, observed "any successor would be bound to pay the tax liabilities of its predecessors as per statutory provisions".
"Immediately after sale, irrespective of the sale price, we will deposit Rs 22500.000 Millions. If the sale price is much higher, we will deposit the entire surplus after adjusting outstanding liabilities, excluding income tax liabilities," Nokia's counsel had earlier said.
In its plea, Nokia has said it intends to sell its assets in the country as part of the sale of its entire global mobile phone manufacturing business to software giant Microsoft but without the vacation of stay on sale of its assets, the deal is not possible.
The firm has also said Microsoft is interested in purchasing Nokia India's assets only if relevant approvals have been obtained from the appropriate authorities.
The issue relates to the IT department's Rs. 20800.000 Millions tax demand notice to the Finnish mobile firm.
The alleged tax evasion pertains to royalty payment made against supply of software by its parent company, which attracts a 10 percent tax deduction under the Tax Deducted at Source (TDS) category.
TAX ROW: IT DEPARTMENT REJECTS NOKIA INDIA'S OFFER TO PAY RS 22500.000
MILLIONS
2 DECEMBER 2013
NEW DELHI: The Income Tax (IT) Department today told the Delhi High Court that the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 22500.000 Millions to it, out of the company's total tax liability of nearly Rs 65000.000 Millions, is not acceptable.
Nokia India, however, stuck to its offer and said it is for the department to decide if they are better off with the proposed amount or without it.
A bench of justices Sanjiv Khanna and Sanjeev Sachdeva observed "you (Nokia) are offering nothing".
To this, senior advocate Harish Salve, appearing for Nokia, said "we are not in a position to offer more" and added that Rs 22500.000 Millions is minimum depending upon the outcome of its deal with Microsoft.
Earlier, the mobile handset-maker firm had sought lifting of a stay on transfer of its assets in India saying the court's injunction will jeopardize the sale of its Indian arm to Microsoft under the USD 7.2 billion global deal.
The bench listed the matter for December 9 when Nokia has to give details of its assets and liabilities as well as how much tax it has paid here.
The bench also questioned Nokia India's intention behind sending Rs 35000.000 Millions to its parent company as dividend of 18 years and asked why the amount should not be brought back here.
The bench made the observation after Nokia said it is exiting the mobile manufacturing business, globally, irrespective of whether its plant in India is sold.
The bench said that earlier Nokia had said it will continue manufacturing of mobiles here and now it is saying its unit in India will be wound up eventually.
"Why did you transfer Rs 35000.000 Millions abroad? Was it not your intention not to keep liquid assets here? You had Rs 41000.000 Millions cash here (dividend and tax combined). You repatriate it.
"When they (IT department) attach your bank accounts, you come here. That time you were categorical that manufacturing (here) will go on. Now, there is a change in your stand. So shouldn't the amount (that was repatriated) be brought back to India?" the bench said.
NOKIA INDIA SHUTS DOWN WEB VERSION OF ITS MUSIC STORE
12 SEPTEMBER 2013
NEW DELHI: As part of its mobile first strategy, Nokia India has pulled the plug on the web version of its digital music store after running it for over 4 years.
"This Nokia music site is no longer available...You will not be able to download music from Nokia Music through your web browser, Nokia music player or Aditi," a message on the company website said.
The company, however, said people can download music through an active music subscription.
"To download new music from Nokia Music and listen to Mix Radio you will need to have an active Nokia Music Unlimited subscription," the message said.
The Nokia Music Store India was launched in August, 2009 at the Music Connects conference. It allowed users to browse and buy music in order to download on PC and compatible Nokia mobile device.
All Nokia music unlimited compatible phones will come with a free period of Nokia music unlimited subscription, after which the customers may be able to renew their subscription for a fee.
Asked about the shutting down of web version of Nokia music, a company spokesperson said: "We communicated the ramp down of desktop downloads in India back in 2011 as part of our mobile first strategy. We will continue to invest significantly in the success of Nokia Music in India."
HC RESTRAINS NOKIA FROM SELLING, TRANSFERRING OWNERSHIP RIGHTS IN INDIA
01 OCTOBER 2013
NEW DELHI: The Delhi High Court has restrained Finnish mobile maker Nokia from selling or transferring its ownership rights in India relating to movable and immovable assets in an alleged tax evasion case.
A bench of justices Sanjiv Khanna and Sanjeev Sachdeva, while hearing a plea of Nokia India Private Limited against the Income tax department's recent order attaching (freezing) its all 15 bank accounts, also asked the handset firm to inform the assessing officer two days in advance before repatriating any money abroad.
The bench also asked the company not to transfer dividend abroad without its permission.
"The petitioner(Nokia India) will not surrender the lease- hold rights or transfer the ownership rights in respect of any of the immovable asset transfer and the fixed asset to any third person. The petitioner will not transfer, sell or alienate movable plant or machinery located in the immovable properties mentioned in the....of the impugned order," the court said in a recent order.
"The petitioner before repatriating any money abroad will inform the assessing officer (AO) at least two working days in advance," the court said and gave liberty to the AO to approach it in case he finds the transfer of money "concerning or questionable".
In addition, the court said "no dividend will be transferred abroad without permission of the court till the next date of hearing" and posted the matter for November 12.
Granting minor relief to Nokia India, the court said "the petitioner will be entitled to receive debts-created receivables, loans and advances but the amount so received will be deposited in the bank accounts mention in Sub para...of the impugned order.
"The petitioner will be entitled to operate the bank accounts in normal course of business and will file monthly statement of bank accounts with the AO in hard copy as well as by sending details via e-mails...," the court said.
The issue related to the Income Tax department's Rs
20800.000 Millions tax demand notice to the Finnish mobile firm.
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] 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.61.92 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
76 |
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.