MIRA INFORM REPORT
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Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
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Name : |
AEGIS LIMITED (w.e.f.29.10.2008) |
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Formerly Known
as : |
AEGIS BPO SERVICES LIMITED (w.e.f. 21.10.2004) TELEQUEST (INDIA) LIMITED |
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Registered Office
: |
Essar Home, 11, K K Marg, Mahalaxmi, Mumbai – 400034, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.01.1992 |
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Com. Reg. No.: |
11-064767 |
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Capital
Investment / Paid-up Capital : |
Rs. 2786.000
Millions |
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CIN No.: [Company Identification
No.] |
U99999MH1992PLC064767 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA29517F |
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PAN No.: [Permanent Account No.] |
AAACE8354Q |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business
: |
Provider of outsourcing services, comprising business process outsourcing (“BPO”) services, such as customer lifecycle management (“CLM”) services and back-office services, and technology services. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 51000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “ESSAR GROUP”. It is a well established and
reputed company having a fair track record. The performance of the company is improved over previous year.
Financial postion is sound and healthy. Liquidity seems to be good.
Fundamentally the company is strong. The rating also derives strength from the experience of promoters and
management in the IT/ ITES industry, well diversified and strong client base
of the company with global foot print and comfortable capital structure. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. In view of reputed and resourceful businessmen, the company can be
considered 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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long term bank facilities : “A” |
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Rating Explanation |
Adequate degree of safety and lowest credit risk. |
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Date |
April 22, 2013 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilties: “A1” |
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Rating Explanation |
Very strong degree of safety and lowest credit risk. |
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Date |
April 22, 2013 |
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.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No. 91-22-67335000 / 67082190)
LOCATIONS
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Registered Office : |
Essar Home, 11, K K Marg, Mahalaxmi, Mumbai – 400034, |
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Tel. No.: |
91-22-66601100 / 67335000 |
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Fax No.: |
91-22-23544490 / 67082190 |
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E-Mail : |
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Website : |
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Branches : |
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DIRECTORS
As on 28.09.2012
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Name : |
Mr. John Michael Lind |
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Designation : |
Director |
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Address : |
515, VIA Sinuosa Santa Barbara, CA, New York – 93110, United States of America |
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Date of Birth/Age : |
11.02.1965 |
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Qualification : |
Bachelor's degree in arts from Mackenna College, a major in economics and a jurists doctorum from Hasting College of Law, University of California and a joint MBA degree from Berkeley Haas School of Business, University of California. |
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Date of Appointment : |
15.11.2010 |
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DIN No. : |
01516635 |
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Other Directorship
:
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Name : |
Mr. Sudip Rungta |
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Designation : |
Director |
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Address : |
Subhada Appartment, Flat No.101, 1st Floor, 63, Sir Pchkanwala Road, Worli, Mumbai – 400030, Maharashtra, India |
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Date of Birth/Age : |
13.09.1971 |
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Qualification : |
B.Com and C.A. |
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Date of Appointment : |
04.07.2011 |
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DIN No. : |
03146989 |
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Other Directorship
:
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KEY EXECUTIVES
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Name : |
Shruti A Jain |
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Designation : |
Secretary |
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Address : |
20/6, Mehta House, |
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Date of Birth/Age : |
04.03.1982 |
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Date of Appointment : |
23/03/2007 |
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PAN No.: |
AFKPJ7697F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
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Names of Shareholders |
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No. of Shares |
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AGC Holdings Limited, Mauritius (Formerly known as Essar Services
Holdings Limited) |
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271861635 |
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AGC Holdings Limited, Mauritius and B. Shivakumar |
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4 |
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AGC Holdings Limited, Mauritius and Sreehari Iyer |
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4 |
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AGC Holdings Limited, Mauritius and A Mohanan |
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4 |
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AGC Holdings Limited, Mauritius and Vipul Shah |
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4 |
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AGC Holdings Limited, Mauritius and Santosh Purohit |
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4 |
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AGC Holdings Limited, Mauritius and Manohar Kanade |
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4 |
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Swift Response Inc NJ, USA |
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1016564 |
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Anshuman Ruia |
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1000 |
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AGC Networks Limited, India |
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5714285 |
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Total |
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278593508 |
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
98.00 |
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Bodies corporate |
2.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of outsourcing services, comprising business process outsourcing (“BPO”) services, such as customer lifecycle management (“CLM”) services and back-office services, and technology services. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· Axis Bank Limited, "Esquire Centre", No.9, M G Road, Bangalore - 560001, Karnataka, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · Ing Vysya Bank Limited, Narian Manzil,Ground Floor, Shop No. G1 To G5, I Floor, Shop No.1001 To 1007,Barakhamba Road, New Delhi - 110001, India · Kotak Mahindra Bank Limited, 15 - 16, Ugf, Ambadeep Building, 14 K G Marg,, New Delhi - 110001, India · Export Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · State Bank Of India, Specialized Commercial Branch, 1st Floor, Kiran Chambers, Opposite J. K. Tower, Ring Road, Surat - 395002, Gujarat, India · Ing Vysya Bank Limited, 22,Ground Floor,Ing Vysya House, M.G.Road, Bangalore – 560001, Karnataka, India |
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Facilities : |
Note: Long term
Borrowings Security: First pari passu charge on the movable and immovable fixed assets of the Company and second pari passu charge on the entire current assets of the Company. Repayment: The loan is repayable in 14 equal quarterly Installments with first repayment beginning after 21 Months from the date of loan agreement viz., June 15, 2010. This loan carries interest @ Libor + 3% margin p.a. |
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Banking
Relations : |
-- |
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Financial Institution : |
· SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India · SREI Infrastructure Finance Limited, Vishwakarma, 86C, Topsia Road (South), Kolkata - 700046, West Bengal, India |
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Auditors : |
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Name : |
S. R. Batlibol and Company Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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PAN No. : |
AABFS3421N |
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Holding Company : |
AGC Holdings Limited, Mauritius (formerly known as (FKA) Essar Services Holdings Limited) |
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Ultimate Holding
Company : |
Essar Global Limited |
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Subsidiaries : |
· Aegis Outsourcing SA (Pty) Limited (FKA Aegis BPO Holdings (South Africa)(Pty) Limited) · Aegis USA Inc (FKA People Support Inc) (AUI) · Aegis Communication Group LLC · Customer Solutions Mauritius (Sold during the previous year) · Aegis People Support Inc (FKA People Support (Philippines), Inc.) · Aegis BPO Services Australia Pty Limited · Aegis Rapid Text Inc. (FKA People Support Rapidtext, Inc.) (Merged with AUI during the year) · Aegis BPO services (Gurgaon)Limited (till December 18, 2010) · Aegis Receivable Management Inc (FKA Global Vantedge Inc) (ARMI) · Highband Communications Private Limited (till October 20, 2010) · AGC Networks Pte. Limited (FKA Aegis Tech Singapore Pte Ltd, Singapore) · Aegis Outsourcing UK Limited (FKA Aegis BPO UK Limited) · Aegis Tech Limited (till December 15, 2011) · AGC Networks Limited (from June 3, 2011) · Aegis Netherlands Holding Cooperatief U.A. · Main Street 741 Pty Limited · Aegis Netherlands II BV (FKA Essar Steel Americas BV) · Aegis BPO (Costa Rica) S.R.L (FKA PeopleSupport Costa Rica, Inc) (PCRI) · Aegis Netherlands IBV (Merged with Aegis Netherlands II BV during the year) · Aegis BPO Services Australia Holdings Pty Limited (ABSAHPL) · Essar Services, Mauritius (FKA World Focus) (ESM) · Aegis Services Australia Pty Limited · UCMS Group Pty Limited (UCMS) · Aspire People Solutions Inc. · Martin Dawes Telecommunications Pty Limited · Global Vantedge Costa Rica Limitada (GVCRL) (Dissolved during the previous year) · Aegis Employment Services Pty Limited (FKA UCMS Employment Services Pty Limited) · Aegis People Support Realty Corporation (FKA People Support Cebu · Realty Corporation) (APRC) (sold during the previous year) · Innovative Land Development Solutions, Inc. (ILDSI) (Merged with AUI during the year) · STC Solutions, Inc.(SSI) (Merged with ARMI during the previous year) · People Support Guatemala Y Compania Limitada (PG) · OTJ Pty Limited (Dissolved during the previous year) · Aegis Philippines Inc.(API) (FKA Aegis BPO and Technology Solutions Inc. and Aegis Peoplesupport Properties Inc.) · Partnerships Australia Pty Limited · Diversity @ Work Pty Limited (Dissolved during the year) · Multiple Stories Pty Limited · Inflection Technologies Pty Limited (Dissolved during the previous year) · Aegis New Zealand Limited(FKA Aegis Tech Limited) · Aegis Tech Pty Limited · Aegis Services Lanka Private Limited (Aegis Srilanka) · Aegis Peru (S.A.C) · Actionline de Argentina SA (Actionline) · Aegis Services Philippines Inc. · AGC Networks Australia Pty Ltd (FKA Global Connect Australia Pty Limited) · Sur Contact Centre SA · Aegis Global Services FZ LLC. · Aegis BPO Service (South Africa) Limited |
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Fellow Subsidiaries
(where transactions exist) : |
· Essar Power Transmission Company Limited CIN No.: U99999DL2005PLC208864 · Essar Project Limited, Dubai · Essar Projects (India) Limited CIN No.: U99999MH1989PLC053280 · Essar Project Management Company Limited · Bhander Power Limited CIN No.: U31101GJ1995PLC065146 · Essar Projects PNG Limited · Equinox Business Parks Private Limited (FKA Essar Technoparks BKC Limited) CIN No.: U70102MH2007PTC172950 · Essar Projects Singapore PTE Limited (FKA Abrax Projects Pte. Ltd) · Equinox Realty and Infrastructure Private Limited (FKA Essar Realty Developers Private Limited) · Essar Shipping, Ports and Logistics Limited · Essar Africa Holdings Limited (FKA India Securities Holdings Limited ) · Essar Shipping Limited (FKA Essar Ports and Terminal Limited) CIN No.: U61200GJ2010PLC060285 · Essar Bulk Terminal Beria Mozambique Limitada Essar Steel Algoma Inc. · Essar Bulk Terminal Paradip Limited CIN No.: U63000GJ2009PLC058496 · Essar Power Orissa Limited · Essar Bulk Terminal (Salaya) Limited CIN No.: U63032MH2007PLC176225 · Essar Steel Holdings Limited · Essar Bulk Terminals Limited · Essar Resources Mauritius Limited (FKA Essar Steel India Limited) · Essar Energy Services (Mauritius) Limited · Essar Steel Limited · Essar Exploration and Production India Limited CIN No.: U11101MH2007PLC171125 · Essar Steel Middle East FZE · Essar Global Services Limited · Essar Steel Minnesota LLC · Essar Logistics Limited CIN No.: U63000MH2004PLC149214 · Essar Steel Processing Vietnam Company Limited · Essar Mineral Resources Limited CIN No.: U13100GJ2006PLC047506 · Viranchi Associations Private Limited · Essar Multi User Coal Terminal Limited · Essar Power Salaya Limited CIN No.: U40300GJ2009PLC062729 · Essar Offshore Subsea Limited CIN No.: U11101MH2008PLC179089 · Essar Telecom Limited (FKA Telecom Network Solutions Limited) CIN No.: U64201GJ1995PLC025241 · Essar Oil Limited CIN No.: L11100GJ1989PLC032116 · Essar Wind Power Private Limited CIN No.: U31101MH2006PTC164542 · Essar Oil UK Limited · Global Vantedge (Mauritius) Limited (upto March 30, 2011) · Essar Oil Vadinar Limited CIN No.: U23209GJ2006PLC049286 · Mahan Coal Limited CIN No.: U01010MP2006PLC018586 · Essar Oilfield Services India Limited CIN No.: U93090MH2006PLC163779 · Navabharat Power Private Limited CIN No.: U40109DL2005PTC231302 · Essar Oilfield Services Limited CIN No.: U93090MH2006PLC163779 · PT Essar Indonesia · Essar Paradip Terminal Limited (ESPLL) CIN No.: U63000MH2009PLC196857 · PT Manoor Bulatn Lestati Indonesia · Essar Africa Infrastructure Holdings Limited · Essar Steel Chhattisgarh Limited CIN No.: U27100GJ2005FLC046274 · Essar Power (Jharkhand) Limited CIN No.: U31101DL2005PLC211274 · Vadinar Oil Terminal Limited CIN No.: U35111GJ1993FLC053434 · Essar Power (East Africa) Limited · Vadinar Ports and Terminal Limited · Essar Power Gujarat Limited CIN No.: U74900GJ2007PLC066273 · Vadinar Power Company Limited CIN No.: U40100GJ1997PLC033108 · Essar Power Limited CIN No.: U40100GJ1991PLC064824 · Essar Power MP Limited · Essar Power Hazira Limited CIN No.: U40300GJ2006PLC063146 |
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Other Group
Companies (where transactions exist) : |
· Arkay Holdings Limited CIN No.: U65991TN1993PLC024773 · Essar Properties Limited CIN No.: U93090TN1983PLC019552 · The Mobile Store Limited · Futura Travels Limited CIN No.: U63040MH1990PLC056592 · Edwell Park Properties Private Limited CIN No.: U45200MH2007PTC168387 · Girishan Traders Private Limited CIN No.: U51909MH2002PTC135483 · Essar Agrotech Limited CIN No.: U01120MH1993PLC071726 · Ibrox Properties Private Limited CIN No.: U45400MH2007PTC172088 · Essar Capital Finance Private Limited CIN No.: U74999TN2008PTC067735 · Essar Investment Limited CIN No.: U99999MH1976PLC034721 · Essar Energy Services Limited CIN No.: U40109MH2008PLC184001 · Jindal Combines Private Limited CIN No.: U29211PB1980PTC004301 · Essar Information Technology Limited CIN No.: U72200MH1992PLC064816 · Prajkta Estates Private Limited CIN No.: U45400MH2008PTC182338 · Essar Infrastructure Services Limited CIN No.: U64202MH1995PLC087774 · Sinter-Keramos and Composites Private Limited CIN No.: U35921WB1991PTC052824 · Aegis Tech Limited (from December 15, 2011) CIN No.: U72900MH2009PLC192075 · Essar House Limited CIN No.: U70100MH1982PLC117644 · Essar Heavy Engineering Services Limited CIN No.: U93000GJ2008PLC054681 · Essar Services India Limited CIN No.: U74999MH2011PLC217380 · Essar SEZ Hazira Limited CIN No.: U70100MH2006FLC159272 · Global Vantedge Private Limited CIN No.: U74999DL2001PTC112501 · Silicon Valley Properties Private Limited CIN No.: U45200MH2007PTC167739 |
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Associate : |
· Contact Center Company · AGC Networks Limited (till June 2, 2011) CIN No.: L32200MH1986PLC040652 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9980000000 |
Equity Shares |
Rs.10/- each |
Rs. 99800.000 Millions |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs. 200.000 Millions |
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|
|
|
|
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Total |
|
Rs.100000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
278593508 |
Equity Shares |
Rs.10/- each |
Rs. 2786.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
|
2786.000 |
2702.000 |
|
(b) Reserves & Surplus |
|
9968.000 |
7574.000 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
12754.000 |
10276.000 |
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(3)
Non-Current Liabilities |
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|
|
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(a) long-term borrowings |
|
658.000 |
830.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
217.000 |
145.000 |
|
Total Non-current
Liabilities (3) |
|
875.000 |
975.000 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
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(a) Short term
borrowings |
|
1093.000 |
76.000 |
|
(b) Trade payables |
|
1010.000 |
554.000 |
|
(c) Other current
liabilities |
|
1606.000 |
2328.000 |
|
(d) Short-term
provisions |
|
32.000 |
18.000 |
|
Total Current
Liabilities (4) |
|
3741.000 |
2976.000 |
|
|
|
|
|
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TOTAL |
|
17370.000 |
14227.000 |
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II.
ASSETS |
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(1) Non-current assets |
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|
|
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(a) Fixed Assets |
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|
|
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(i) Tangible assets |
|
1201.000 |
690.000 |
|
(ii) Intangible Assets |
|
313.000 |
115.000 |
|
(iii) Capital
work-in-progress |
|
164.000 |
326.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
6125.000 |
4532.000 |
|
(c) Deferred tax assets (net) |
|
182.000 |
214.000 |
|
(d) Long-term Loan and Advances |
|
1496.000 |
1348.000 |
|
(e) Other
Non-current assets |
|
39.000 |
280.000 |
|
(f) Foreign
currency monetary item translation difference asset account |
|
35.000 |
0.000 |
|
Total Non-Current
Assets |
|
9555.000 |
7505.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
1252.000 |
2004.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
2433.000 |
2025.000 |
|
(d) Cash and cash
equivalents |
|
326.000 |
1281.000 |
|
(e) Short-term loans
and advances |
|
867.000 |
469.000 |
|
(f) Other current
assets |
|
2937.000 |
943.000 |
|
Total Current Assets |
|
7815.000 |
6722.000 |
|
|
|
|
|
|
TOTAL |
|
17370.000 |
14227.000 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2465.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5823.000 |
|
|
4] Equity Share Warrants |
|
|
138.000 |
|
|
5] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
8426.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2066.000 |
|
|
2] Unsecured Loans |
|
|
22.000 |
|
|
TOTAL BORROWING |
|
|
2088.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10514.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1486.000 |
|
|
Capital work-in-progress |
|
|
344.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5121.000 |
|
|
DEFERRED TAX ASSETS |
|
|
51.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
2703.000 |
|
|
Cash & Bank Balances |
|
|
589.000 |
|
|
Other Current Assets |
|
|
417.000 |
|
|
Loans & Advances |
|
|
2507.000 |
|
Total
Current Assets |
|
|
6216.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
985.000 |
|
|
Other Current Liabilities |
|
|
1629.000 |
|
|
Provisions |
|
|
143.000 |
|
Total
Current Liabilities |
|
|
2757.000 |
|
|
Net Current Assets |
|
|
3459.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
53.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10514.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
9871.000 |
8690.000 |
8377.000 |
|
|
|
Other Income |
329.000 |
150.000 |
128.000 |
|
|
|
TOTAL (A) |
10200.000 |
8840.000 |
8505.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
4978.000 |
|
|
|
|
|
Other Expenses |
3349.000 |
3182.000 |
|
|
|
|
Prior Period items |
0.000 |
17.000 |
|
|
|
|
Exceptional Items |
57.000 |
300.000 |
|
|
|
|
TOTAL (B) |
8384.000 |
7423.000 |
6388.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1816.000 |
1417.000 |
2117.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES
(D) |
136.000 |
209.000 |
225.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1680.000 |
1208.000 |
1892.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
557.000 |
1320.000 |
396.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G)
|
1123.000 |
(112.000) |
1496.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
425.000 |
101.000 |
175.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
698.000 |
(213.000) |
1321.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Export Services |
2140.000 |
2078.000 |
1874.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
307.000 |
267.000 |
635.000 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
2.52 |
(0.84) |
5.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.84
|
(2.41) |
15.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.38
|
(1.29) |
17.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.34
|
(1.22) |
19.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.01 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.14
|
0.09 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09
|
2.26 |
2.25 |
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 |
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 |
|
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 |
Yes |
OVERVIEW:
Subject is a worldwide provider of outsourcing services, comprising business process outsourcing (“BPO”) services, such as customer lifecycle management (“CLM”) services and back-office services, and technology services. The Company specializes in providing customized solutions which cover the entire spectrum of end-user experiences across business processes, technologies, shared services and analytics, and offer engagement and delivery models which focus on creating value for clients and improving their revenues and profits.
Being present across six continents with its 49 BPO delivery centers and 13 technology delivery center in 13 countries, Aegis has a diverse client base, providing BPO services to 300 clients and Technology services to 1000 clients, including several Fortune 500 clients primarily in the telecommunications, banking, financial services and insurance (“BFSI”), healthcare, travel and hospitality and manufacturing sectors across multiple geographies. Focus on certain industry sectors has enabled the Company gain operational insights into the business contexts of the processes which it manages foritsclientsandhasallowed the Company to improve its service delivery. The Company believes that the greatest value it provides to its clients is not only the understanding of the industry in which they operate, but also the understanding of the particular challenges they face, the culture of the business or geography within which a process is operated, and the ability to improve a process through their knowledge of practices across different industries as well as an understanding of the solutions which can be implemented in the context of their clients’ operating environment. The Company follows a “right-shoring” approach, which is to provide clients with services depending on their specific needs.
REWARDS AND RECOGNITIONS:
In the last one year Aegis has earned significant industry recognition including many awards. One such achievement was when Aegis was positioned among the leading companies in the Gartner Magic Quadrant CM Contact Center Worldwide 2011 showcasing Aegis’ ability to adapt to the fast changing business environment and customer expectation. Another such recognition came from TMC’s Customer Interaction solution Magazine acknowledging Aegis with the MVP Quality award 2011 showcasing Aegis’ consistency and high quality of service globally. Some of the other significant achievements were Aegis being recognized by Indo-American chamber of Commerce as the best technology company in USA, Asia Pacific Contact Center Outsourcing Service Provider of the year 2011 by Frost and Sullivan, Aegis was ranked #15 by International Association of Outsourcing Professionals (IAOP) in Leaders category in the Global outsourcing 100 list, Aegis was also ranked #3 in ataquest Top 20 BPO Companies 2011 and # 4 in NASSCOM Top 15 BPO companies 2011 in India. Aegis has also been recognized by many esteemed organizations for its promotion of employment opportunities. Aegis was honored with NCPEDP-Shell Helen Keller Award 2011 - under the “Role Model Companies/NGOs/Institutions” category for promotion of employment ant accessibility for people with disabilities. Aegis was also conferred with the esteemed “Golden Peacock HR Excellence Award 2011” in the IT/ITES category. Aegis also won the Aon Hewitt Best Employer Award 2011 in India and Australia. The Aegis leadership has also been recognized at various fronts. Aegis’ Chief Financial Officer, CM Sharma was conferred with CFO 100 - Winning Edge in Strategy award for his extraordinary contribution to the corporate world. Aparup Sengupta, Managing Director and Global CEO was recognized by IAOP’s Globalization Today as one of the most influential people in outsourcing industry. It showed his ability and willingness to take risks, champion and speak out for a cause; entrepreneurial and pioneering spirit; passion for their work and industry; and relentless pursuit of excellence.
MANAGEMENT’S DISCUSSION AND ANALYSIS:
Their income from operations increased by 14% to Rs. 9871.000 millions for the year ended March 31, 2012 from Rs. 8690.000 millions for the year ended March 31, 2011. The increasewas primarily due to addition of new service lines relating to Information Technology Projects and Information Technology shared services clients and an increase in revenues from existing clients. They are well diversified in terms of different business vertical. They primarily served client in Telecom, Metal,Manufacturing Hydro,Emergin and BFSI for which contribution to Total Revenue at the year ended March 2012 was 36%,19%,15%,11%,11% and 2% respectively as compare to 34%,27%, 8%, 12%, 10% and 2% in previous year ended March 2011.
During the year the employee expenses has increased on account of increase in head count due to starting of new line of business in IT Projects and ITSS. Exceptional Item of INR 57 million for the year ended March 2012 mainly on account of one time training , consulting exercise in process improvement in and work force management. The Company has incurred the INR18mn towards these activities .Company has also incurred INR
39mn professional expenses during the process of proposed Bond Issue.The Company has charged off these expenses to the statement of profit and loss and disclosed under exceptional item in FY 2012.
The Finance Cost has been decreasedby 35% mainly on account of reduction in Term loan amount from Rs. 803.000 millions to Rs. 658.000 millions in FY 2011 and FY 2012 respectively.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U99999MH1992PLC064767 |
|
Name of the
company |
AEGIS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Essar Home, 11, K K Marg, Mahalaxmi, Mumbai – 400034, Maharashtra, India E-mail: shruti.jain@aegisglobal.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10311251 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Ing Vysya Bank
Limited, 22,Ground Floor,Ing Vysya House, M.G.Road, Bangalore – 560001,
Karnataka, India E-mail: giridharvvrn@ingvysyabank.com
|
|
Nature of
instrument creating charge |
Supplemental Deed
of General Hypothecation. |
|
Date of
instrument Creating the charge |
22.10.2012 |
|
Amount secured by
the charge |
Rs. 750.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest CC : IVBR+2.50%p.a. WCDL(Sub limit to CC) : Mutually agreed rate at the time of drawdown. ILC/FLC/BG : Commission 0.75%p.a. Terms of Repayment CC : On Demand WCDL(Sub limit to CC) : Maximum 1 year. ILC/FLC : 1 year BG : 3 years. Margin CC/WCDL : 25%
margin on receivables. Receivables up to 180 days shall be considered for
drawing power computation. ILC/FLC/BG : Nil Extent and Operation of the charge First pari passu
charge on the entire current assets(both present and future) of the company
along with other member banks of the Multiple Banking arrangement. Second pari passu
charge over entire moveable fixed assets(both present and future) of the
company along with other member banks of the Multiple Banking arrangement. Others Nil |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The entire current
assets and moveable fixed assets(both present and future) of the company. |
|
Particulars of
the present modification |
The total limit
has been enhanced from Rs.400.000 millions to Rs.750.000 millions as follows: Limit Existing Modified(Amount in millions) CC 4.000 6.000 WCDL (4.000) (6.000) LC/FLC/BG (2.000) 1.500 The hypothecation
on the assets of the company extended to the enhanced limit. |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
(i) Guarantees |
|
|
|
Corporate Guarantee of USD 30 million given by the Company for its 100% subsidiary, Essar Services Mauritius, to EXIM Bank under the credit facility of USD 30 million taken by Essar Services Mauritius |
1535.000 |
0.000 |
|
Corporate Guarantee of USD 19 million given by the Company for its 100% subsidiary, Main Street 741 (Pty) Ltd, to Axis Bank, Hong Kong under the credit facility of USD 16 million taken by Main Street 741 (Pty) Ltd |
972.000 |
848.000 |
|
Corporate Guarantee of USD 50 million given by the Company for its 100% subsidiary, Essar Services Mauritius, to EXIM Bank , Mumbai under the credit facility of USD 50 million taken by Essar Services Mauritius |
2558.000 |
2233.000 |
|
Corporate Guarantee of USD 209 million given by the Company for its 100% subsidiary, Essar Services Mauritius, to UBS & Deutsche Bank, Hong kong under the credit facility of USD 190 million taken by Essar Services Mauritius. In the current year Essar Services Mauritius has repaid the loan and the guarantee of USD 209 million has been released. |
0.000 |
9332.000 |
|
Corporate Guarantee of USD 180 million given by the Company for its 100% subsidiary, Essar Services Mauritius and Aegis USA Inc (100% subsidiary of Essar Services Mauritus), to Deutsche Bank AG, Singapore Branch, ING Bank N.V., Singapore Branch, Macquarie Capital (Singapore) Pte. Limited, Societe Generale Mumbai, UBS AG Hong Kong Branch for credit facility taken by Essar Services Mauritius and Aegis USA Inc (100% subsidiary of Essar Services Mauritus) |
9209.000 |
0.000 |
|
Bonds to Customs authorities |
14.000 |
14.000 |
|
Total |
14288.000 |
12427.000 |
(ii) Litigations
a) The collector of Noida has issued a notice claiming the shortfall in stamp duty and has issued a demand of Rs. 50. The case is presently being argued before the Allahabad High Court. The collector had passed an order dated March 3, 2010 and issued directions to recover Rs. 6 as deficit stamp duty together with 1.5 % interest thereon since July 1, 2006. The Company has filed an application for stay at Allahabad High Court. The Company has also filed the writ petition at Allahabad High Court challenging the order of Collector, Noida. The said writ petition has been partly allowed by the Honorable High Court vide order dated August 30, 2010 whereby the penalty imposed has been set aside and also the term of lease. The Company has challenged the balance order by filing a review petition before the Allahabad high court which is pending and likely to be heard soon. The management believes that possibility of liability arising is remote. Hence no provision is made in the books for the same.
b) The Company had received a notice of demand of Rs. 60 for AY 2008-09 and for AY 2009-10 Rs.104 from the Income tax authorities (TDS). It had filed rectification application u/s. 154 of the Income Tax Act, 1961 pursuant to which it has received rectification order reducing the demand to Rs.3 for AY 2008-09 and Rs. 6 for AY 2009-10. Against the said demand it has again filed rectification application u/s. 154 and also preferred an appeal to Commissioner of Income Tax (CIT) appeal.These rectification application and appeal are yet to be decided. The
management is of the opinion that the case would be settled in favor of the Companyaccordingly no provision for any liability has been made in the books.
c) The Company has received a notice of demand of Rs. 52 for FY 2007-08 from the service tax authorities. The Company has filed appeal against the demand and the case is pending before CESTAT. The Management is of the opinion that the case would be settled in the favor of the Company and accordingly no provision for any liability has been made in the books.
d) The Company has received a notice of demand of Rs.5 (including applicable penalty) from the Superintendent of Stamps for demerger of BPO division of Global Vantage Private Limited into Aegis Limited. The Company has respond against the demand and the case is pending before the Bombay Stamp Office. The management is of the opinion that the case would be settled in the favor of the Company and accordingly no provision for any liability has been made in the books.
e) The Company has received an order for the FY 2007-08 from the Income Tax Authorities adding back Rs. 15 for international transaction pertaining to corporate guarantee given by the Company for its subsidiaries. The Company has filed appeal against the demand and the case is pending before CIT Appeals. Subsequently Finance Bill 2012 has proposed to include Corporate Guarantee in definition of International Transaction. The Company has accrued guarantee commission @ 1% in the books instead of 2.5% proposed by Income Tax Authority. The Management is of the opinion that the case would be settled in the favor of the Company and accordingly no further provision for difference in rate is required.
WEBSITE DETAILS
PRESS RELEASE
AEGIS RANKED AMONGST THE TOP 12 ON IAOP’S 2013 GLOBAL OUTSOURCING 100
LIST
Dallas and Mumbai, May 9, 2013 Aegis Limited, a leading outsourcing and technology services company and part of the USD 27 billion conglomerate Essar, today announced that it has been ranked 12th in the International Association of Outsourcing Professionals (IAOP) 2013 Global Outsourcing 100. Aegis has moved up the charts of the Global Outsourcing 100® rankings from 26th in 2009 to 12th in 2013. The Global Outsourcing 100 list serves as the essential industry reference of innovative outsourcing services companies in the world.
The Global Outsourcing 100, in its eighth year currently, is an annual ranking by IAOP of the world’s best outsourcing service providers and serves as an essential reference for companies seeking new and expanded relationships with the best outsourcing services providers. The applications sent by service providers are judged by an independent panel of experienced outsourcing buyers on four critical characteristics – size and growth, customerreferences, organizational competencies and management capabilities.
Other than being cast as a Leader in the 2013 Global Outsourcing 100, Aegis is also cited in various sub-categories in the 2013 listings
Leaders in Number of Employees Globally
Best CSR in Outsourcing
Best 20 Leaders in Healthcare
Best 20 Leaders in Telecommunications
Best 20 Leaders in Customer Relationship Management Services
Best 20 Companies in Financial Management Services
Best 10 Companies in Australia/New Zealand
Best 20 Leaders in USA
Best 20 Companies in India
“Our strategy of placing customer experience management at the center of our business is clearly taking us places. At Aegis, the art of managing, enabling, extending and enhancing customer experiences across multiple channels is at the core of our solutions portfolio. We see customer experience as a powerful transformation lever for any organization, and we can architect a multidisciplinary solution that’s best suited for our clients, right from strategy to execution” said Sandip Sen, Global CEO, Aegis Limited.
Aegis’ consistently rising trajectory on this list is an outcome of strong client references before the IAOP panel as well as its winning customer experience strategy. The company continues to invest in innovation and look at moving up the value-chain with transformational business process services and vertical specific back office solutions to further enable clients meet their corporate goals.
“As applicants continually raise the bar and as the outsourcing industry continues to grow and mature in many markets, competition is tougher,” said Jag Dalal, Managing Director of Thought Leadership, IAOP and chairman of the judges' panel. “Being named as a leader in The Global Outsourcing 100 is a great achievement, particularly given the strong competition, and we are proud to recognize Aegis for their excellence.”
About IAOP
The International Association of Outsourcing Professionals® (IAOP®) is the global, standard-setting organization and advocate for the outsourcing profession. With more than 120,000 members and affiliates worldwide, IAOP helps companies increase their outsourcing success rate, improve their outsourcing ROI, and expand the opportunities for outsourcing across their businesses.
FIXED ASSETS
] Tangible Assets
· Land
· Buildings
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
] Intangible Assets
· Computer Software
·
Goodwill
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 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.60.34 |
|
|
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
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 |
|
67 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.