MIRA
INFORM REPORT
|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
INGRAM MICRO INDIA LIMITED (w.e.f. 13.05.2009) |
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Formerly Known
As : |
Tech pacific ( |
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Registered
Office : |
5th Floor, Block B, Godrej IT Park, 02 Godrej Business District,
Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
05.03.1996 |
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Com. Reg. No.: |
11-136340 |
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Capital Investment
/ Paid-up Capital : |
Rs.184.928 Millions |
|
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|
CIN No.: [Company Identification
No.] |
u72900mh1996plc136340 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
mumt06887G |
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PAN No.: [Permanent Account No.] |
aabct1296R |
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|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Distributor of Products like Computers, Peripherals, Supplies,
Softwares etc. |
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|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Ingram Micro Inc., USA”. It is a well
established company having satisfactory track record. The company has seen a better growth in its operations and
profitability during 2012. Financial position appears to be good. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. The company can be considered good 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.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Shraddha |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-39894645 |
|
Date : |
23.07.2013 |
LOCATIONS
|
Registered Office : |
5th Floor, Block B, Godrej IT Park, 02 Godrej Business
District, Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-67960101 / 67960149 / 39894645 / 67960247 |
|
Fax No.: |
91-22-67960102 / 67960103 / 39891000 / 30561100 / 39894645 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Southern
Branches : |
Located at: ·
Bangalore ·
Chennai ·
Cochin ·
Coimbatore ·
Hubli ·
Hyderabad ·
Madurai ·
Pudhucherry ·
Trivandrum · Vizag |
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|
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|
Western Branches : |
Located at: · Ahmedabad · Baroda · Bhopal · Indore · Surat · Mumbai · Nagpur · Pune · Raipur · Goa |
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|
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|
Northern
Branches : |
Located at: ·
Chandigarh ·
Dehradun ·
Delhi ·
Jaipur
·
Jammu ·
Lucknow ·
Ludhiana
· Parwanoo |
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|
|
|
Eastern Branches
: |
Located at: ·
Bhubaneshwar ·
Guwahati ·
Kolkata ·
Patna · Ranchi |
DIRECTORS
As on 26.09.2012
|
Name : |
Mr. Jaishankar Vaidyanathan Krishnan |
|
Designation : |
Managing Director |
|
Address : |
Flat No.1201, Somerset Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1957 |
|
Qualification : |
MMM, BE (E and C) |
|
Date of Appointment : |
01.01.2009 |
|
PAN No.: |
AAMPK4962B |
|
DIN No.: |
00101652 |
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|
|
|
Name : |
Mr. Shailendra Narendra Gupta |
|
Designation : |
Director |
|
Address : |
3, Tanjong Rhu Road, #12 02, The West Side Blocks, Singapore - 436881 |
|
Date of Birth/Age : |
17.09.1962 |
|
Date of Appointment : |
01.09.2001 |
|
DIN No.: |
00966943 |
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|
|
|
Name : |
Mr. Stephen John Paine |
|
Designation : |
Director |
|
Address : |
Le Grove serviced apartments, M – 206, 32 Orange Grove Road, Singapore – 258354 |
|
Date of Birth/Age : |
17.01.1958 |
|
Date of Appointment : |
05.12.2006 |
|
DIN No.: |
01025188 |
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|
|
|
Name : |
Mr. Wai Kong NG |
|
Designation : |
Director |
|
Address : |
BLK 4, Jalan Raja, Udang, #21 09, Singapore - 329216 |
|
Date of Birth/Age : |
24.10.1959 |
|
Date of Appointment : |
09.07.2010 |
|
DIN No.: |
03130301 |
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|
|
|
Name : |
Mr. Prabhakar Venkatakrishnan Iyer |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 902, Octavius, Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1964 |
|
Date of Appointment : |
01.12.2011 |
|
PAN No.: |
AAAPI2265H |
|
DIN No.: |
00116774 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Gajanan Joglekar |
|
Designation : |
Company Secretary |
|
Address : |
F 105, Sumer Castle, LBS Road, Thane (West), Mumbai – 400601, Maharashtra,
India |
|
Date of Birth/Age : |
18.12.1964 |
|
Date of Appointment : |
13.04.2009 |
|
PAN No.: |
ACNPJ2440C |
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|
|
|
Name : |
Ms. Shraddha |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shailendra Gupta |
|
1 |
|
Jaishankar Krishnan |
|
1 |
|
Sanjay Achawal |
|
1 |
|
Ingram Micro Asia Limited, Singapore |
|
18492710 |
|
Ingram Micro Asia Holdings Inc., USA |
|
100 |
|
Prabhakar V. Iyer |
|
1 |
|
Atul Gaur |
|
1 |
|
Blasé Martin D’Souza |
|
1 |
|
Navneet Singh Bindra |
|
1 |
|
Total |
|
18492817 |
As on 26.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
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 : |
Distributor of Products like Computers, Peripherals, Supplies,
Softwares etc. |
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Products : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Central Bank of India, M.G. Road, Fort, Mumbai – 400023, Maharashtra,
India Tel. No.: 91-22-22625932 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
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PAN No.: |
AAEFP5579P |
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Holding Company : |
· Ingram Micro Inc., USA · Ingram Micro Asia Holdings Inc.,USA · Ingram Micro Asia Limited, Singapore |
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Subsidiary Company
: |
Ingram Micro (India) Exports Pte. Limited, Singapore |
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Fellow
Subsidiary company : |
· Ingram Micro Australia Pty Limited · Ingram Micro NZ Limited · Ingram Micro Semiconductor Asia Pte. Limited · Ingram Micro Singapore (South Asia) Pte Limited · Ingram Micro Asia Pacific Pte. Limited · Ingram Micro Malaysia SDN BHD. · Ingram Micro (Thailand) Limited · Ingram Micro Lanka (Private) Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19000000 |
Equity Share |
Rs.10/- each |
Rs.190.000 millions |
|
1300000 |
1% Redeemable Cumulative Convertible
Preferences Shares |
Rs.100/- each |
Rs.130.000 millions |
|
|
Total |
|
Rs.
320.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18492817 |
Equity Share |
Rs.10/- each |
Rs.184.928 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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
184.928 |
184.928 |
|
(b) Reserves & Surplus |
|
7450.327 |
6415.505 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
7635.255 |
6600.433 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
75.172 |
69.520 |
|
Total Non-current Liabilities (3) |
|
75.172 |
69.520 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2425.296 |
2758.398 |
|
(b) Trade payables |
|
12355.214 |
9322.969 |
|
(c) Other current
liabilities |
|
740.174 |
772.743 |
|
(d) Short-term provisions |
|
21.402 |
14.542 |
|
Total Current Liabilities (4) |
|
15542.086 |
12868.652 |
|
|
|
|
|
|
TOTAL |
|
23252.513 |
19538.605 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
84.367 |
29.970 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.168 |
1.168 |
|
(c) Deferred tax assets (net) |
|
187.384 |
181.348 |
|
(d) Long-term Loan and Advances |
|
241.829 |
153.213 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
514.748 |
365.699 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
8339.576 |
7056.269 |
|
(c) Trade receivables |
|
10867.600 |
9149.195 |
|
(d) Cash and cash
equivalents |
|
814.673 |
522.522 |
|
(e) Short-term loans and
advances |
|
1610.545 |
1270.187 |
|
(f) Other current assets |
|
1105.371 |
1174.733 |
|
Total Current Assets |
|
22737.765 |
19172.906 |
|
|
|
|
|
|
TOTAL |
|
23252.513 |
19538.605 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
184.928 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5562.567 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5747.495 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2850.639 |
|
|
TOTAL BORROWING |
|
|
2850.639 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8598.134 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
37.206 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.168 |
|
|
DEFERREX TAX ASSETS |
|
|
238.449 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5637.486
|
|
|
Sundry Debtors |
|
|
8788.788
|
|
|
Cash & Bank Balances |
|
|
344.187
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
2026.907
|
|
Total
Current Assets |
|
|
16797.368
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
7754.986 |
|
|
Other Current Liabilities |
|
|
602.819
|
|
|
Provisions |
|
|
118.252
|
|
Total
Current Liabilities |
|
|
8476.057
|
|
|
Net Current Assets |
|
|
8321.311
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8598.134 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
95451.008 |
83846.236 |
66298.263 |
|
|
|
Other Income |
229.818 |
272.270 |
263.724 |
|
|
|
TOTAL (A) |
95680.826 |
84118.506 |
66561.987 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
0.000 |
|
|
|
|
|
Purchases of stock-in-trade |
92793.836 |
82014.695 |
|
|
|
|
Employee benefit expense |
726.921 |
637.829 |
|
|
|
|
Other expenses |
1579.243 |
1241.826 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(1283.307) |
(1418.783) |
|
|
|
|
TOTAL (B) |
93816.693 |
82475.567 |
64663.082 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1864.133 |
1642.939 |
1898.905 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
294.066 |
291.444 |
120.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1570.067 |
1351.495 |
1778.576 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.281 |
18.340 |
20.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1548.786 |
1333.155 |
1757.624 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
513.964 |
480.217 |
604.605 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1034.822 |
852.938 |
1153.019 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6231.664 |
5378.726 |
4225.707 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7266.486 |
6231.664 |
5378.726 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB – Exports Sales |
21.137 |
24.462 |
45.751 |
|
|
|
Sales Overseas Branch |
5606.681 |
1386.953 |
0.000 |
|
|
|
Rebate (Netted off against cost of sales) |
368.811 |
386.483 |
209.983 |
|
|
|
Service Fees and Expenses charged to Wholly Owned Subsidiary |
0.000 |
44.005 |
41.520 |
|
|
|
Expenses recovered |
75.239 |
24.047 |
56.312 |
|
|
TOTAL EARNINGS |
6071.868 |
1865.95 |
353.566 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
20305.282 |
23200.777 |
18743.146 |
|
|
TOTAL IMPORTS |
20305.282 |
23200.777 |
18743.146 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
55.96 |
46.12 |
62.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.08
|
1.01 |
1.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.62
|
1.59 |
2.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.72
|
6.89 |
10.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.20 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.32
|
0.42 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.49 |
1.98 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: Not Available
INDEX OF CHARGES :
No Charges Exist for Company
NOTE
The registered office of the company has been shifted from Gate No.1A,
Godrej Industries Complex, Pirojshangar, Eastern Express Highway, Vikhroli
(East), Mumbai – 400079, Maharashtra, India to the present address w.e.f.
01.02.2012
OPERATIONS
The Accounts for the year were considered by the Audit Committee at its meeting held on June 21, 2012 and the financial statements were forwarded to the board along with comments and recommendation. During the year, the Company achieved total turnover of Rs. 95680.830 Million, and after providing for depreciation of Rs. 21.280 Million and Finance Cost of Rs. 294.070 Million, the Company earned a profit before tax of Rs. 1548.790 Million. After providing for Income Tax (Current tax of Rs. 520.000 Million and Deferred tax of (Rs. 6.040 Million), the Profit after tax stood at Rs. 1034.820 Million.
During the year, the company grew revenues by close to 14% over prior year. The growth in revenues were predominantly due to growth of the consumer PC and smartphone product categories. Over the past few years, the company has established a diversified portfolio of brands across these product categories and refined its go to market model to become a preferred partner for key vendors and customers, in this segment.
The corporate and Govt. market continues to be subdued due to various economic factors that are adversely impacting the investment climate in this segment and this has had its impact on the companies growth in these segments.
During the year, the PC storage industry was also impacted by the floods in Thailand. This unfortunate event resulted in significant shortage of products for over 6 months which also impacted the growth in the white box PC segment.
During the year the Singapore branch was fully operational. The revenue and expenses of the branch have been included in the financials.
During the year Company opened a Liaison Office in Dhaka, Bangladesh.
FINANCE COST
Increase in working capital and higher interest rates in the market resulted in higher finance cost.
FUTURE OUTLOOK
Given the political developments in the country, the company expects the demand for IT infrastructure products and solutions to continue to be subdues during fiscal ’12-’13. This is also likely to place significant pressure on the working capital cycles as customers demand more credit and longer payment terms.
However, they expect the consumer product categories to continue to exhibit robust demand. Mobile phone consumers will continue to migrate demand to higher end feature phones and smartphones which will have a positive impact on the company’s performance.
FIXED ASSETS
v Tangible Assets
· Furniture and Fixtures
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
v Intangible Assets
· Goodwill
PRESS RELEASE
INGRAM MICRO'S BRIGHTPOINT BUYOUT PLAN OK'D
New Delhi, Monday
September 10, 2012
Fair trade regulator CCI has approved IT products distributor company Ingram Micro's proposed acquisition of Brightpoint Inc.
As per the proposal, Ingram Micro would merge its wholly- owned subsidiary Beacon Sub with Brightpoint. Subsequently, Ingram would have sole control of Brightpoint, also an IT product distributor.
In an order dated September 4, 2012, the Competition Commission of India (CCI) said the proposed merger is not likely to have an adverse effect on competition in India.
CCI has observed that market share of some of the firms in the distribution of mobility devices in India is higher than the combined market share of both Ingram Micro and Brightpoint. The market is characterised with the presence of many players with insignificant entry barriers, it added.
"The market share of Ingram and Brightpoint with respect to the wholesale distribution of mobility products, at the individual as well as combined level in India, is in single digit," the regulator said.
On July 2, Ingram had announced it would acquire Brightpoint in a deal worth about USD 840 million, including the latter's debt (net of cash) of about USD 190 million.
Post merger, Brightpoint would remain while Beacon Sub would cease to exist as a separate corporate entity.
US-based Ingram Micro operates in India through its subsidiary Ingram Micro India. In India, the company is engaged in distribution of IT products, consumer electronics, laptops and tablets.
Brightpoint, also an American entity, has presence in the country through Brightpoint India Private Ltd and is mainly into the wholesale distribution of mobile phone accessories and tablets.
According to the CCI, the order would be revoked, if at any time, the information provided to it is found to be incorrect.
ARBOR NETWORKS PARTNERS WITH INGRAM MICRO IN INDIA
July 9, 2012
Peakflow SP platform delivers integrated threat detection and mitigation for large network operators; Pravail APS delivers on-premise protection from application-layer attacks on network availability
Arbor Networks, Inc., a leading provider of security and network management solutions for enterprise and carrier networks, today extended their distribution agreement with Ingram Micro to include India. Ingram Micro is distributing Arbor’s PravailTM Availability Protection System (Pravail APS) for enterprise network availability and the Peakflow® SP platform for large enterprise and service provider networks.
“Arbor Networks is addressing a major concern for enterprises of all sizes – ensuring the availability of critical applications and services. Arbor’s Pravail APS provides tremendous value to the enterprise. From the partner perspective, Arbor offers a very comprehensive support and incentive program for our Reseller Partners,” said Mr. Jaishankar Krishnan, managing director of Ingram Micro India Ltd.
Global Leader in DDoS
Protection
According to a recent report from Infonetics Research titled, DDoS Prevention
Appliance Market Outlook, Arbor Networks was cited as “the dominant leader for
DDoS prevention” overall as well as in the Carrier Transport and Wired
Broadband, Enterprise Data Center and Mobile market segments.
Integrated Threat
Detection and Mitigation for global enterprise and ISP Networks
The vast majority of the world’s leading service providers and many of the
largest enterprise networks in operation today rely on Arbor’s Peakflow SP
platform to proactively fend off malicious threats such as botnets and
volumetric and application-layer DDoS attacks, while strengthening the
availability and quality of their services. Arbor’s Peakflow SP platform
includes two main components, Peakflow SP and the Threat Management System
(TMS). Peakflow SP combines network-wide anomaly detection and
traffic engineering with TMS’s carrier-class threat management that
automatically detects and surgically removes only attack traffic while
maintaining legitimate business traffic. The Peakflow SP platform powers
many of the world’s leading cloud-based DDoS managed security services.
Availability and
Investment Protection for the Enterprise
What makes Arbor’s Pravail APS such an important product for the enterprise is
that it not only protects against availability threats such as
application-layer DDoS attacks, it provides investment protection to existing
security infrastructure. For example, firewalls and IPS are designed for
important security problems other than DDoS. They were built to stop
unauthorized access to critical resources, enforce corporate security policies
and prevent data loss. These all remain critical security problems. What’s
changed is that availability itself is now under assault and it requires a
solution designed specifically for today’s complex DDoS problem.
Arbor Pravail APS
Highlights:
Out-of-the-Box Protection
* Rapidly deployable with little configuration, even during an attack.
* A single, easy-to-manage platform with extensive reporting capabilities.
Cloud SignalingSM Functionality
* Facilitates both enterprise data center-edge mitigation of
application-layer attacks and upstream service provider mitigation of
volumetric attacks in an automated, coordinated and real-time manner.
* The only mechanism available today that provides complete protection
against both application and volumetric DDoS attacks.
ATLAS® Intelligence Feed
* Automates the identification of botnet-borne attacks against data center
infrastructures.
* Monitors for new threats, delivers updates automatically and includes
geo-location data.
“Arbor Networks® DDoS mitigation solutions are pervasively deployed in global service provider networks. To reach the enterprise market, we required the reach and resources and relationships of a partner like Ingram Micro,” said Attley Ng, Arbor Networks vice president and general manager for APAC. “Ingram Micro is the market leader in Asia and we are excited about leveraging their vast resources with a very compelling product for data center operators at a time when network security threats are evolving and presenting acute challenges.”
About Ingram Micro
As a vital link in the technology value chain, Ingram Micro creates sales and
profitability opportunities for vendors and resellers through unique marketing
programs, outsourced logistics, technical and financial support, managed and
cloud-based services, and product aggregation and distribution. The company is
the only global broad-based IT distributor, serving more than 150 countries on
six continents with the world’s most comprehensive portfolio of IT products and
services.
About Arbor Networks
Arbor Networks, Inc. is a leading provider of network security and management
solutions for next-generation data centers and carrier networks, including the
vast majority of the world's Internet service providers and many of the largest
enterprise networks in use today. Arbor's proven network security and
management solutions help grow and protect customer networks, businesses and
brands. Through its unparalleled, privileged relationships with worldwide
service providers and global network operators, Arbor provides unequalled
insight into and perspective on Internet security and traffic trends via the
ATLAS® Active Threat Level Analysis System. Representing a unique collaborative
effort with 100+ network operators across the globe, ATLAS enables the sharing
of real-time security, traffic and routing information that informs numerous
business decisions.
VMWARE EXPANDS ITS ENGAGEMENT WITH INGRAM MICRO
April 26, 2013
VMware announced the appointment of Ingram Micro India Limited as its second authorized aggregator for the VMware Service Provider Program (VSPP) in India. With this appointment, VMware expands its existing engagement with Ingram Micro as a ‘Value Added Distributor (VAD)’ for India.
The VSPP has been uniquely designed to help service providers develop, promote and sell their cloud products, services and solutions. The model, introduced in 2010, is fast emerging as a preferred option for Indian companies, both large and small, who are looking at subscription-based hosted IT services to easily address their dynamic business requirements, while maintaining control and security of their IT environments.
“We are witnessing a strong demand for subscription-based hosted IT services through VSPP in India. The growing interest by partners suggests that public and hybrid clouds are not only a strategic imperative in organizations today, but also that Indian companies are increasingly considering, evaluating and consuming compute services in the cloud,” said Ganesan Arumugam, director, Partners and Alliances, VMware India and SAARC.
“Our expanded engagement with Ingram Micro will help us leverage its extensive network of partners to reach and tap newer markets as well as scale the program in India,” he added.
The VSPP is a cornerstone of VMware’s partner programs and was created for IT partners providing hosted IT services to end user companies. VSPP includes partners that provide subscription or web services to third parties, enabling service and hosting providers to consume VMware virtualization solutions, including VMware vSphere, in a way that aligns with their business models. This has created new opportunities for partners to offer virtualization-enabled solutions, applications and services for their customers.
“Ingram Micro India Limited continues to demonstrate sustainable business value to our vendors and channel partners selling data center solutions and cloud services in India,” said K Jaishankar, managing director, Ingram Micro India Limited. “As one of the largest distribution partners of VMware in the country, we are now enhancing our relationship as an authorized VSPP aggregator. We are now in a position to provide access for our partners to a cost-effective pay-as-you-go subscription model,” he added.
VMware established a presence in India in 2005 and today has serves about 3,000 customers, employs some 2,000 staff and works with 100 partners. VMware also recently announced a multi-year investment of $120 million for a new RandD facility in Bangalore.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.69 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.