MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HCL TECHNOLOGIES LIMITED |
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Registered
Office : |
806, Siddharth, 96, |
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Country : |
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Financials (as
on) : |
30.06.2014 |
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Date of
Incorporation : |
12.11.1991 |
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Com. Reg. No.: |
55-046369 |
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Capital
Investment / Paid-up Capital : |
Rs.1400.000
millions |
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CIN No.: [Company Identification
No.] |
L74140DL1991PLC046369 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELH01586E/ DELH02634C |
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PAN No.: [Permanent Account No.] |
AAACH1645P |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is primarily engaged in providing a range of software
services, business process outsourcing and infrastructure services. |
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No. of Employees
: |
85505 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
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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 400000000 |
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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 an established company having a fine track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment terms
are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown.
Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of
the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Convertible Debenture Programme: AAA |
|
Rating Explanation |
Have the highest degree of safety and carry lowest credit risk. |
|
Date |
30.06.2014 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (91-120-2520917)
LOCATIONS
|
Registered Office : |
806, Siddharth, 96, Nehru Place, New Delhi – 110 019, India |
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Tel. No.: |
91-11-26444812 |
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Fax No.: |
91-11-26436336 |
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E-Mail : |
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Website : |
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Branch Office: |
Surya Sapphire, Plot No:3 1st Phase Electronic City Hosur Road, Bangalore – 560100, Karnataka, India |
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Secretarial
Office : |
A-9, 10 and 11, Sector – 3, Noida – 201 301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2520917, 2520937, 2520997 |
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Fax No.: |
91-120-2526907 |
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Software
Development Centre : |
Located at: ·
Chennai ·
Gurgaon ·
Kolkata ·
Noida ·
Hyderabad ·
Bangalore ·
Pune ·
Mumbai |
DIRECTORS
As on 30.06.2013
|
Name : |
Mr. Shiv Nadar |
|
Designation : |
Chairman and Chief Strategy Officer |
|
Address : |
44, Friends Colony (East), New Delhi – 110 065, India |
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Date of Birth/Age : |
18.07.1945 |
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Date of Appointment : |
11.01.1993 |
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DIN No.: |
00015850 |
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Name : |
Mr. Vineet Nayar |
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Designation : |
Non-Executive Director |
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Address : |
A-178, Sector 40, Gautambudhnagar, Noida – 201 301, Uttar Pradesh, India |
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Date of Birth/Age : |
09.04.1962 |
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Date of Appointment : |
01.08.2008 |
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DIN No.: |
02007846 |
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Name : |
Ms. Robin Ann Abrams |
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Designation : |
Non-Executive and Independent Director |
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Address : |
751, Linden Avenue, Los Altos CA94022 – 94022, USA |
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Date of Birth/Age : |
12.05.1951 |
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Date of Appointment : |
13.09.1999 |
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DIN No.: |
00030840 |
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Name : |
Mr. Subroto Bhattacharya |
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Designation : |
Non-Executive and Independent Director |
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Address : |
E-10, Sector 40, Noida – 201 301, Uttar Pradesh, India |
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Date of Birth/Age : |
12.10.1940 |
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Date of Appointment : |
08.05.2003 |
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DIN No.: |
00009524 |
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Name : |
Mr. Amal Ganguli |
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Designation : |
Non-Executive and Independent Director |
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Address : |
J-6/7, DLF Qutab, Enclave Phase II, Gurgaon – 122 002, Haryana, India |
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Date of Birth/Age : |
17.10.1939 |
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Date of Appointment : |
08.05.2003 |
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DIN No.: |
00013808 |
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Name : |
Mr. Srinivasan Ramanathan |
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Designation : |
Non-Executive Director |
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Address : |
47, Kasturi Ranga Road, Alwarpet, Chennai – 600 018, Tamilnadu, India |
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Date of Birth/Age : |
08.06.1946 |
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Date of Appointment : |
19.04.2011 |
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DIN No.: |
00575854 |
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Name : |
Mr. Sudhindar Krishan Khanna |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Srikant Madhav Datar |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Sosale Shankara Sastry |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Keki Mistry |
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Designation : |
Non-Executive and Independent Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
306348512 |
43.77 |
|
|
5600474 |
0.80 |
|
|
394 |
0.00 |
|
|
5600080 |
0.80 |
|
|
311948986 |
44.57 |
|
|
|
|
|
|
119548908 |
17.08 |
|
|
119548908 |
17.08 |
|
Total shareholding of Promoter and Promoter Group (A) |
431497894 |
61.64 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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Mutual Funds / UTI |
17279792 |
2.47 |
|
|
324050 |
0.05 |
|
|
8532322 |
1.22 |
|
|
201941419 |
28.85 |
|
|
600 |
0.00 |
|
|
600 |
0.00 |
|
|
228078183 |
32.58 |
|
|
|
|
|
|
14358938 |
2.05 |
|
|
|
|
|
|
15392449 |
2.20 |
|
|
2389736 |
0.34 |
|
|
8259181 |
1.18 |
|
|
417591 |
0.06 |
|
|
43396 |
0.01 |
|
|
2477626 |
0.35 |
|
|
9062 |
0.00 |
|
|
1332195 |
0.19 |
|
|
172110 |
0.02 |
|
|
3807201 |
0.54 |
|
|
40400304 |
5.77 |
|
Total Public shareholding (B) |
268478487 |
38.36 |
|
Total (A)+(B) |
699976381 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
699976381 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in providing a range of software
services, business process outsourcing and infrastructure services. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
85505 (Approximately) |
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Bankers : |
·
Citibank N.A., Global Corporate and
Investment Banking, DLF Centre, 5th Floor, Parliament Street, New
Delhi – 110 001, India ·
Deutsche Bank AG, Corp. Office -
DLF Square, 4th Floor, Jacaranda Marg, DLF City, Phase – II,
Gurgaon – 122 002, Haryana, India ·
Standard Chartered Bank, Corporate
and Institutional Banking, Credit Operations, H -2, Connaught Circus, New
Delhi – 110 001, India ·
State
Bank of India, Corporate Accounts Group Branch, 11th /12th
Floor, Jawahar Vyapar Bhawan 1, Tolstoy Marg, New Delhi – 110 001, India ·
ICICI
Bank Limited, 9-A, Connaught Place, New Delhi, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
S.R. Batllboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate Tower B, Sector 42, Sector Road, Gurgaon – 122
002, Haryana, India |
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PAN No.: |
AALFS0506L |
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Direct Subsidiaries
: |
· HCL Comnet Systems and Services Limited · HCL Comnet Limited · HCL Bermuda Limited · HCL Technologies (Shanghai) Limited ·
HCL Eagle Limited |
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|
Step down
Subsidiaries : |
· HCL Great Britain Limited · HCL (Netherlands) BV · HCL Belgium NV · HCL GmbH · HCL Singapore Pte. Limited · HCL Sweden AB · HCL Italy SLR · HCL Australia Services Pty. Limited · HCL (New Zealand) Limited · HCL Hong Kong SAR Limited · HCL Japan Limited · HCL America Inc. · HCL Holdings GmbH · HCL Global Processing Services Limited · HCL BPO Services (NI) Limited · HCL (Malaysia) Sdn. Bhd. · HCL Technologies Solutions Limited (formerly known · as HCL EAI Services Limited) · HCL Poland sp. z o.o · HCL EAS Limited · HCL Insurance BPO Services Limited · HCL Expense Management Services Inc. · Axon Group Limited · Bywater Limited · Axon Solutions Schweiz Gmbh · Axon Solutions Pty. Limited · Axon Solutions Inc. · Axon Acquisition Company, Inc. · Axon Solutions Limited · Axon Solutions Sdn. Bhd. · Axon Solutions Singapore Pte. Limited · Axon Solutions (Shanghai) Co. Limited · HCL Axon (Proprietary) Limited · JSPC- I Solutions Sdn. Bhd. · JSP Consulting Sdn. Bhd. · Axon Solution (Canada) Inc.* · HCL Argentina s.a. · HCL Mexico S. de R.L. · HCL Technologies Romania s.r.l. · HCL Hungary Limited · HCL Latin America Holding LLC · HCL (Brazil) Technologia da informacao Ltda. · HCL Technologies Denmark Apps · HCL Technologies Norway AS · PT. HCL Technologies Indonesia Limited · HCL Technologies Philippines Inc. · HCL Technologies South Africa (Proprietary) Limited · HCL Arabia LLC · HCL Technologies France · Filial Espanola De HCL Technologies S.L. (Spain) · Anzospan Investments Pty Limited · HCL Investments (UK) Limited · HCL America Solutions Inc. (Formerly known as HCL · Technologies Product Design Services inc.) · HCL Technologies Canada Inc. and Axon Solution · (Canada) Inc. amalgamated w.e.f. 1 July 2012 and formed a new entity Axon Solutions (Canada) Inc. |
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Employee benefit trusts
: |
· HCL Technologies Limited Employees Trust · Axon Group Plc Employee Benefit Trust No. 3 · Axon Group Plc Employee Benefit Trust No. 4 · HCL South Africa Share Ownership Trust(incorporated w.e.f 22 February 2013) |
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|
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Jointly controlled
entities : |
NEC HCL System Technologies Limited, India (up to 26 April, 2013) |
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Associates : |
Statestreet HCL Services (India) Private Limited |
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Significant
influence |
· Vama Sundari Investments (Delhi) Private Limited (Slocum investments (Delhi) Private Limited merged with Vama Sundari Investments (Delhi) Private Limited) · w.e.f 22 March 2013) · HCL Corporation Private Limited · HCL Infosystems Limited · HCL Holding Private Limited · HCL Insys Pte Ltd., Singapore · Digilife Distribution and Marketing Services Limited |
CAPITAL STRUCTURE
As on 30.06.2014
Authorised Capital : NOT AVAILABLE
Issued, Subscribed & Paid-up Capital : Rs.1400.000
Millions
As on 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Shares |
Rs.2/- each |
Rs.1500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
696869857 |
Equity Shares |
Rs.2/- each |
Rs.1393.700 Millions |
|
|
|
|
|
Terms/ rights attached to equity shares
The Company has
only one class of shares referred to as equity shares having a par value of
Rs.2/-. Each holder of equity shares is entitled to one vote per share.
In the event of
liquidation of the Company, the holders of equity shares will be entitled to
receive the remaining assets of the Company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of
equity shares held by the shareholders.
Reconciliation of
the number of shares outstanding at the beginning and at the end of the
reporting period
|
Particulars |
As at 30th June, 2013 |
|
|
No. of shares |
Amount (Rs. In millions) |
|
|
Number of shares at the beginning |
693283476 |
1386.600 |
|
Add: Shares issued on exercise of employee stock options |
3576256 |
7.100 |
|
Add: Shares issued under scheme of arrangement |
10125 |
0.000 |
|
Number of shares
at the end |
696869857 |
1393.700 |
The Company does not have any holding/ ultimate holding company.
* Absolute amount equals to Rs.20,250
Details of
shareholders holding more than 5 % shares in the company:-
|
Particulars |
As at 30th June, 2013 |
|
|
No. of shares |
% holding in the class |
|
|
Equity shares of
Rs.2 each fully paid |
|
|
|
Vama Sundari Investments (Delhi) Private Limited * |
311964982 |
44.77% |
|
HCL Holdings Private Limited |
119548908 |
17.16% |
*Shares earlier held by Slocum Investment (Delhi) Private Limited vested into Vama Sundari Investments (Delhi) Private Limited with effect from 22 March 2013 (the effective date) pursuant to the Scheme of Amalgamation approved by High Court.
As per the of the
Company, including its register of shareholders/members and other declarations
received from shareholders regarding beneficial interest, the above
shareholding represents both legal and beneficial ownership of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1400.000 |
1393.700 |
1386.600 |
|
(b) Reserves & Surplus |
156056.100 |
100933.600 |
64651.500 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
76.500 |
50.100 |
27.700 |
|
Total
Shareholders’ Funds (1) + (2) |
157532.600 |
102377.400 |
66065.800 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
274.500 |
5326.600 |
5256.500 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
5154.300 |
4369.200 |
3496.300 |
|
(d) long-term provisions |
1752.800 |
1659.800 |
1631.800 |
|
Total
Non-current Liabilities (3) |
7181.600 |
11355.600 |
10384.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
292.500 |
824.800 |
1732.200 |
|
(b) Trade payables |
3924.700 |
3332.900 |
3803.200 |
|
(c) Other current liabilities |
40061.600 |
29784.500 |
18838.400 |
|
(d) Short-term provisions |
9152.000 |
11918.100 |
7946.100 |
|
Total
Current Liabilities (4) |
53430.800 |
45860.300 |
32319.900 |
|
|
|
|
|
|
TOTAL |
218145.000 |
159593.300 |
108770.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
18969.500 |
15523.900 |
|
(ii) Intangible Assets |
|
572.300 |
613.200 |
|
(iii) Capital work-in-progress |
|
4881.900 |
5495.500 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
35597.200 |
36097.200 |
29336.700 |
|
(c) Deferred tax assets (net) |
3117.900 |
3766.900 |
2371.500 |
|
(d) Long-term Loan and Advances |
8367.800 |
7640.900 |
6216.700 |
|
(e) Other Non-current assets |
1326.200 |
1327.000 |
2425.700 |
|
Total
Non-Current Assets |
78079.800 |
73255.700 |
61983.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
5562.900 |
4459.800 |
3642.800 |
|
(b) Inventories |
155.400 |
818.400 |
999.900 |
|
(c) Trade receivables |
32241.900 |
27092.100 |
19924.200 |
|
(d) Cash and cash equivalents |
79110.800 |
28088.300 |
10412.000 |
|
(e) Short-term loans and
advances |
9843.200 |
15115.100 |
4287.100 |
|
(f) Other current assets |
13151.000 |
10763.900 |
7521.100 |
|
Total
Current Assets |
140065.200 |
86337.600 |
46787.100 |
|
|
|
|
|
|
TOTAL |
218145.000 |
159593.300 |
108770.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
SALES |
|
|
|
|
|
Income |
164973.700 |
125178.200 |
89072.200 |
|
|
Other Income |
6591.200 |
3788.400 |
3008.600 |
|
|
TOTAL
(A) |
171564.900 |
128966.600 |
92080.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4101.200 |
2594.900 |
2063.600 |
|
|
Employees benefits expense |
51239.500 |
46286.100 |
39230.600 |
|
|
Outsourcing Cost |
16194.500 |
-- |
-- |
|
|
Travel and Conveyance |
6997.000 |
-- |
-- |
|
|
Exchange Gain/loss |
117.900 |
-- |
-- |
|
|
Other expenses |
13214.700 |
30389.900 |
22675.800 |
|
|
TOTAL
(B) |
91864.800 |
79270.900 |
63970.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
79700.100 |
49695.700 |
28110.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
816.500 |
764.600 |
972.700 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
78883.600 |
48931.100 |
27138.100 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
4907.000 |
4419.100 |
3530.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
73976.600 |
44512.000 |
23607.400 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
14130.400 |
7464.800 |
4103.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
59846.200 |
37047.200 |
19504.200 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
65971.200 |
31857.700 |
24357.100 |
|
|
|
|
|
|
|
Less/ Add |
Loss
acquired under the scheme of amalgamation |
NA |
3300.000 |
1700.000 |
|
|
|
|
|
|
|
Less/ Add |
Transfer
from debenture redemption reserve due to redemption of debenture |
NA |
8318.100 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
NA |
3800.000 |
1950.400 |
|
|
Transfer to debenture
redemption reserve |
NA |
1000.000 |
2100.000 |
|
|
Proposed final dividend |
NA |
4184.200 |
2776.000 |
|
|
Interim dividend |
NA |
4169.400 |
5529.800 |
|
|
Corporate dividend tax |
NA |
1398.200 |
1347.400 |
|
|
Balance
Carried to the B/S |
NA |
65971.200 |
31857.700 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Income from Services |
NA |
113811.900 |
83841.700 |
|
|
TOTAL
EARNINGS |
NA |
113811.900 |
83841.700 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
NA |
1339.500 |
2002.800 |
|
|
TOTAL
IMPORTS |
NA |
1339.500 |
2002.800 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
|
Basic |
85.66 |
53.32 |
28.23 |
|
|
Diluted |
84.51 |
52.45 |
27.72 |
KEY RATIOS
|
PARTICULARS |
|
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
PAT / Total Income |
(%) |
34.88 |
28.73 |
21.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
44.84 |
35.56 |
26.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
41.23 |
38.76 |
32.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.43 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.06 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.62 |
1.88 |
1.45 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1386.600 |
1393.700 |
1400.000 |
|
Reserves & Surplus |
64651.500 |
100933.600 |
156056.100 |
|
Share Application money
pending allotment |
27.700 |
50.100 |
76.500 |
|
Net
worth |
66065.800 |
102377.400 |
157532.600 |
|
|
|
|
|
|
long-term borrowings |
5256.500 |
5326.600 |
274.500 |
|
Short term borrowings |
1732.200 |
824.800 |
292.500 |
|
Total
borrowings |
6988.700 |
6151.400 |
567.000 |
|
Debt/Equity
ratio |
0.106 |
0.060 |
0.004 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
89072.200 |
125178.200 |
164973.700 |
|
|
|
40.536 |
31.791 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
89072.200 |
125178.200 |
164973.700 |
|
Profit |
19504.200 |
37047.200 |
59846.200 |
|
|
21.90% |
29.60% |
36.28% |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 30.06.2014 |
As
on 30.06.2013 |
|
Short term
borrowings |
|
|
|
Bank overdraft |
NA |
4.800 |
|
Loans from related parties |
NA |
820.000 |
|
Total |
NA |
824.800 |
COMPANY OVERVIEW
Subject is primarily engaged in providing a range of software services, business process outsourcing and infrastructure services. The Company was incorporated in India in November 1991. The Company leverages an extensive offshore infrastructure and its global network of offices in various countries and professionals to deliver solutions across select verticals including Financial Services, Manufacturing (Automotive, Aerospace, Hi-tech and Semi conductor), Telecom, Retail and Consumer packaged goods services , Media publishing and entertainment, Public services, Energy and utility, Healthcare, Travel, Transport and Logistics.
MANAGEMENT DISCUSSION
AND ANALYSIS
Current State of the
Indian IT Industry
The Indian IT Services industry has exhibited rapid evolution in terms of expanding their vertical and geographic markets, attracting new customer segments, transforming from technology partners to strategic business partners imbibing a shared vision and offering a considerably wider spectrum of services.
According to NASSCOM estimates, export revenues (excluding hardware) are expected to cross USD 75.8 billion in FY 2013, growing by 10.2% during FY'13. Software and Services export revenue (excluding hardware) had posted 14.9% growth during FY 2012.
Verticals: The industry's vertical market mix is well balanced across several mature and emerging sectors. Growth this year was driven by emerging verticals of healthcare, retail and utilities growing at a consolidated 12%, even as the traditional verticals BFSI and manufacturing recorded above industry growth.
Geographies: The year was characterized by healthy growth in Europe (including United Kingdom) and Asia Pacific. US, the biggest market for IT-BPM exports also continued its growth momentum albeit at a slower pace. As the European market is becoming more amenable to off -shoring, growth in this region is expected to firm up further.
Service Lines: As per NASSCOM estimates, amongst service lines, Business Process Management segment is expected to be the fastest growing at 12.2% and is estimated to gross USD 17.8 billion in FY 2013. The IT services segment aggregated export revenues of USD 43.9 billion, accounting for nearly 58% of total exports and a growth of 9.9% over FY 2012.
HCL Technologies (HCLT) continues to outperform the Indian IT-Industry. As shown in the chart (Figure 1.3), during the period ending March 2013, HCLT's revenues grew by 12% YoY to reach USD 4.53 Billion. HCLT's revenue has grown by 21% on a 3 year CAGR basis whereas the Indian IT Industry grew by 13.5% during the same period. On a 5 year CAGR basis, HCLT's revenue grew by 21% whereas the Indian IT-BPO industry grew by 11.4%.
The Industry Outlook
As per NASSCOM estimates the global economic environment is set to improve from 2013 onwards, with global GDP expected to increase by 3.5 per cent in 2013 and further by 4.1 per cent in 2014. Service providers are realigning themselves to current and emerging opportunities in the form of Intellectual Property (IP) based platforms, customized business models, tailor made customer solutions and hybrid delivery. This, in turn, is helping the industry to evolve and position itself as a strategic business partner to global customers.
Five major
technological changes are expected to open up new opportunities for service
providers:
· Smart Computing
· Software-as-a-Service (SaaS)
· Social Technologies
· Mobility
· Analytics
The IT buying landscape has also undergone a major shift. One mega trend is the expanding role of IT. The stakeholder has expanded beyond the role of the CIO. Information Technology's role is shifting from a reactive back-end support operation to a strategic enabler of innovation.
IT services industry is expected to grow by 4.2% in 2013 as per NASSCOM as firms work at ways to reduce costs and increase profitability, realizing the need for information technology to create competitive advantage.
NASSCOM estimates that, total revenues for FY 2014 from IT (domestic as well as exports, excluding hardware) will grow between 13% and 15% to reach USD 106-111 billion; of this, exports are likely to be about USD 84-87 billion, a growth of about 12-14%.
Drivers for future
growth
Smart computing, 'anything'-as-a-service, technology enablement in emerging verticals as well as the small and medium business market are expected to open new opportunities for the industry.
Domestic IT-Business Process Management Industry revenue (excluding hardware) is expected to grow at 14.1% to gross INR 1,047 billion in FY 2013. Rapid advancement in technology infrastructure, increasingly competitive Indian organizations and emergence of business models that help provide IT services and enablement to new customer segments are key drivers for increased technology adoption in India.
The Indian IT industry will continue to redefine and transform itself by establishing new business and global delivery models and partnerships. Global sourcing will be the key growth driver, with organizations trying to reduce operational costs, enter new markets and focus on innovation.
At HCLT, new customer acquisition and growth across existing customers has been the key to success.
· $10 Mn clients quadrupled from 26 in FY 07 to 102 in FY 13
· $ 20 Mn clients quadrupled from 13 in FY 07 to 51 in FY 13
Future growth opportunities will also come from existing as well as new customers.
· From existing customers: Opportunities reside in cross-sell, up-sell and new propositions such as business-aligned IT, Cloud computing, platform-based BPO and Green IT. HCLT provides increased value to its customers by leveraging key alliances and partnerships to facilitate joint solution development.
· From new customers: Growth opportunities could come from vendor consolidation, new verticals and new geographies. Vendor consolidation will contribute significantly to global offshoring.
HCLT's ability to grow customer relationships, particularly into large accounts, will be critical for its growth in the coming years.
Future Outlook
· Worldwide packaged software revenue expected to grow by over 6.5 per cent in 2013.
· Global IT-BPM spend is expected to grow between 5-6 per cent
· Business process management spending in 2013 is expected to be increasingly driven by F&A and procurement segments, followed by HR outsourcing and customer care
Infrastructure
Services Division (ISD)
Infrastructure Services Division (ISD) continues to be HCLT's fastest growing business line contributing over 29.2% to the total revenue. On a three-year basis, it is the fastest growing infrastructure services provider in the world with revenue of $1Bn. The division manages mission - critical IT environment for over 20 of the Fortune 100 organizations.
With a differentiated value proposition, Industrialized IT Management, ISD is positioned to address enterprise IT infrastructure requirements.
ISD is widely recognized by the analyst community as the leading Infrastructure services provider globally. The division's key service offerings include:
· Cloud Computing Services- Cloud consulting and assessment, migration and implementation including management and hosting of private Cloud or utility infrastructure and management of public Cloud as a part of the infrastructure services. The aggregation and management of Cloud services is executed through HCL's proprietary MyCloud platform.
· Data Center Services– End-to-end life cycle of services including management and hosting of customer assets, consolidation and migration services, virtualization and design and management of green data centers. These services also take care of mainframe and AS/400 management.
· End User Computing Services– Service desk, messaging and collaboration services, managed print services, managed desktop services, global field support, client application management services, business productivity online services, application packaging factory, Windows 7 and 8 migration and asset management.
· Cross-Functional Services– one of the critical services that leverage service management based on ITIL (Information Technology Infrastructure Library) based processes for centralized management of distributed assets. The services included are disaster recovery and business continuity services, service automation and governance, risk and compliance services. Many of these services are bundled with the overall services; including award-winning tools and frameworks such as MTaaS™ (Management Tools-as-a-Service).
· Network Services– Day 0, 1 and steady state operations across original equipment manufacturers (OEMs), enterprises and telecom service providers. Critical services in this space involve managed network services, network consulting services, network virtualization and technical product support services.
· Information Security Services– Managed security services, information security consulting services and identity and access management services.
· System Integration Services across the entire infrastructure service stack.
ISD has successfully delivered 580+ complex IT infrastructure architecture and operations transformations and is increasingly acknowledged and recognized by Fortune 100, Fortune 500 and Global 2000 enterprises as a credible alternative to top tier global MNCs.
HCLT's ISD provides infrastructure management services to customers through a robust delivery network of service centers across the globe. Infrastructure operations include standardized management of globally distributed assets of over 5 million mission critical IT devices; resolving numerous helpdesk contacts while supporting the needs of over 1.4 million business users.
The solution spans major industries including Automotive, Banking, Chemical, Energy (Oil and Gas) and Utility, Consumer Electronics, Financial Services, Consumer Product Goods, Hi-tech, Independent Software Vendor (ISV), Insurance, Life Science, Healthcare and Pharmaceuticals, Manufacturing, Media, Publishing and Entertainment, Retail, Telecom, Travel and Tourism and Logistics.
HCLT's fast growth has prompted several bestselling authors to include the ISD case study in their books and research.
The division has received its share of accolades:
· HCL was featured in the afterword to Nick Carr's book "The Big Switch".
· HCL Technologies is a Leader among Global Workplace Services Vendors-The Forrester WaveTM : Workplace Services, Q1, 2013.
· HCL has been positioned as a Leader in Gartner's Magic Quadrant for Data Center Outsourcing and Infrastructure Utility Services, North America, by William Maurer, David Edward Ackerman, and Bryan Britz, August 29, 2012. In this report, Gartner examines the abilities of 20 service providers' to deliver Datacenter Outsourcing and Infrastructure Utility Services in North America, and their vision for the future of these services.
· HCL has been positioned as a Leader in Gartner's Magic Quadrant for Desktop Outsourcing Services, North America, by David Edward Ackerman, Helen Huntley, Bryan Britz, and William Maurer, July 24, 2012.
· HCL has been positioned as a Leader in Gartner's Magic Quadrant for Helpdesk Outsourcing, North America, by Helen Huntley, David Edward Ackerman, Bryan Britz, and William Maurer, July 24, 2012.
· HCL has been positioned as a Niche Player in Gartner's Magic Quadrant for Data Center Outsourcing and Infrastructure Utility Services, Europe by Claudio Da Rold, Gianluca Tramacere and Frank Ridder, July 12, 2012.
· HCL has been positioned as a Niche Player in Gartner's Magic Quadrant for Desktop Outsourcing, Europe by Frank Ridder, Claudio Da Rold, and Gianluca Tramacere, August 21, 2012.
· HCL has been positioned as a Niche Player in Gartner's Magic Quadrant for Help Desk Outsourcing, Europe by Gianluca Tramacere, Claudio Da Rold and Frank Ridder, August 29, 2012.
· HCL has been positioned as a Challenger in Gartner's Magic Quadrant for Communications Outsourcing and Professional Services by Eric Goodness and Christine Tenneson, December 20, 2012.
· HCL has been rated as a Leader in Enterprise Mobility and Cloud Computing by Zinnov as per its ‘Global Service Provider Ratings (GSPR) 2012’.
· The National Outsourcing Association (NOA) has named HCL Technologies as its '2012 Outsourcing Service Provider of the Year'.
· HCL has received the '2012 Service Excellence award' from Brocade, a leader in Data Center Networking Solutions, in recognition of its significant contribution and commitment to providing multi-domain services to Brocade.
· HCL has been crowned CEVA's 'Global Supplier of the Year' in recognition of the support it has provided in the "delivery of three of CEVA's five strategic priorities in the last 12 months for true commitment to working in partnership".
· InformationWeek conferred ValueHonors™ Award on HCL's customers for infrastructure services to companies like Avago Technologies, Cummins Inc., Electrolux, Old Mutual Wealth Management, Purdue Pharma, Xerox and a Fortune 500 pharmaceutical company. InformationWeek evaluated more than 100 Fortune 1000 and Global 2000 companies across the globe for these awards. There was a stringent nomination process by which enterprises demonstrated objective evidence of value creation across five categories: Best Service Desk, Best Data Center Transformation, Best Cloud Strategy, Best Transition Management and Most Responsive to Business.
Custom Application
Services
Business differentiation through IT by creating visibility, reducing IT intensity, enabling operational excellence, and distinct focus on transformation makes Custom Application Services division, a game changer at HCLT. Today HCLT's customers look at IT, not just as a percentage cost to overall spends, but more on how it can help increase revenues, reduce overall costs, and enable new business models.
The partnering approach taken by HCLT's Custom Application Services division has a proven track record of enabling customers achieve strategic control, while at the same time releasing internal IT bandwidth to focus on strategic initiatives. The division contributes 30% of HCLT's revenues and provides services across verticals such as financial services, retail and consumer products, healthcare, insurance, media and publishing, manufacturing and public services.
HCLT's Custom Application Services division uses IPs, tools, frameworks and industry best practices to provide differentiated change-the-business, run-the-business and cross-functional IT services to customers. By focusing on these three aspects of the customer's IT ecosystem, the division has been successful in providing committed savings on Application Management and increasing agility and adoption on Application Build engagements.
With a modular approach to design, development, testing, and rollout, HCLT's ADeX Practice (Application Development Excellence) leverages best-in-class development processes and methodologies along with benchmark tools and reference architectures, to ensure that client requirements are met with high productivity and process compliance.
To align IT with business needs, the division provides cross-functional services through collaborative governance, flexible commercial models and tools, which provide business differentiation through IT. In addition, flexible commercial models such as onsite, near-shore, offshore facilities, shared delivery centers assist in defining, realizing and sustaining business change.
HCLT's value-centric focus keeps it continuously investing in robust methodologies, tools and processes and best-of-breed partnerships. Skills are continuously upgraded within the practice and customers continue to enjoy faster time-to-market as they leverage HCLT's extensive research and development on methodologies, reusable components and frameworks.
Currently, HCLT is investing significantly in niche technologies such as e-commerce, Mobility, Cloud and Analytics.
Engineering and
R&D Services
HCLT's Engineering and R&D Services (ERS) business unit is the largest Indian engineering service provider and constitutes 17.5% of the company's overall revenues. HCLT ERS works with some of the most innovative and successful organizations in the world. With over two decades of experience operating in complex multi-vendor environments and customer value chains, HCLT ERS is able to seamlessly integrate into a customer's existing R&D ecosystem.
HCLT ERS offers end-to-end engineering services and solutions in hardware, embedded, mechanical and software product engineering to industry leaders across industry verticals like - Aerospace and Defense, Automotive, Consumer Electronics, Industrial Manufacturing, Medical Devices, Networking and Telecom, Office Automation, Semiconductor, Servers and Storage, and Software Products. It successfully collaborates with other innovation partners, captive centers, universities, industry bodies and manufacturing partners.
HCLT ERS understands that their success as an engineering partner depends on the success of their customers' products and solutions. They believe that business success today is the result of phenomenal customer experiences. HCLT ERS combines passion for engineering to help product and technology companies drive great engineering experiences to create significant business impact and value through accelerated product launches, improved engineering efficiencies and adoption of new and disruptive technologies. A deep engineering heritage, out-of-the-box thinking, and a solid foundation of talent, processes, systems, frameworks, and tools are just a few of the reasons why some of the largest global ESO (Engineering Services Outsourcing) partnerships are with HCLT ERS. We have helped customers across industries achieve their business strategy through product engineering, platform solutions and the creation of unique engineering experiences.
Thought leadership has become one of the key differentiators as the industry moves up the value chain. HCLT ERS is committed to creating thought leadership in areas such as social media, medical devices, PLM, gesture technology, etc. We practice it by encouraging bold thinking and disruptive approaches that are needed to help their customers outperform in a rapidly changing digital economy.
We are not only involved in engineering complex and critical products for some of the largest corporations in the world, but we are also constantly pushing the boundaries of technology and defining new and differentiated ways to offer their services.
One such differentiation is their suite of solutions which takes HCL developed best practices, IPs and accelerated frameworks and packages them into service offerings that solve critical and highly relevant business problems for their customers.
Their solutions cater to engineering needs across the entire product development lifecycle and provide solutions that help the customer address challenges of accelerated product development, gaining a price to benefit ratio and adapting to new technologies. HCLT is investing heavily in developing solutions to help clients impact the overall product ecosystem faster and better .Some of the focus areas of their solutions include Mobility, M2MPlatforms, Software as a Service models Cloud, NUI, etc.
HCL is placed in the Leadership Zone by a leading Analyst firm among the Automotive, Consumer Electronics, Computer Peripherals and Storage, ISV, Consumer Software, Medical Devices, Semiconductor, Cloud Computing, Enterprise Mobility and Aerospace and Defense R&D Service Providers. This is proof of the fact that HCLT ERS is capable of performing concept to Go-To-Market for the product and has significant investment in Lab infrastructure. There is niche capability across Engineering, Embedded and Software services. HCLT ERS possesses a formal innovation culture, resulting in IP's and strategic innovations and plays a leadership role in alliances, leverage startups, Specific academic research and co-creation with customers.
Business Services
Division
HCLT pioneered third party BPO in India by launching its BPO division in 2001. Today, HCLT's Business Services division provides Next Generation BPO services to nearly 100 clients across various geographies and industries. We were among the first India-based IT services companies to implement the offshore development model as a method for delivering high-quality services at a relatively low cost to international clients.
HCLT's Business Services division has built its presence across multiple geographies with state-of-the-art BPO delivery centers (34 centers across India, USA, Europe, Ireland, UK, LATAM and the Philippines). HCL's Business Services division employs over 10,000 professionals equipped to offer Round the Clock services on a 'follow-the-sun' Global Delivery Model through a combination of offshore, near shore and onshore delivery centers.
Through its Business Services, HCLT today provides domain oriented, transformation-led BPO solutions and services to Fortune 500/Global 2000 customers. Through its Vertical Business Services, HCLT keeps its focus on Banking and Financial Services, Insurance and Healthcare. HCL’s ‘Enterprise function as a service’ (EFaaS) is a BPO-led offering which combines end-to-end business transformation and outcome/benefit realization. Through its Enterprise Business Services, HCLT offers horizontal BPO services such as F&A, SCM, Product Support and HRO while combining its strengths in Applications, Infrastructure and Consulting to offer BPO led transformation services to enterprises across industries with a keen focus on delivery business outcome.
OVERVIEW
During the financial year 2012-13, on a consolidated basis, the Company's revenues stood at Rs.255810.600 Millions registering a growth of 22.80% over the previous year.
SCHEME OF AMALGAMATION
During the year, the Hon'ble High Court of Delhi vide its order dated April 12, 2013 has approved the Scheme of Arrangement between HCL Technologies Limited, HCL Comnet Systems & Services Limited and their respective shareholders and creditors under section 391 to 394 of the Companies Act, 1956 for amalgamation of the demerged undertaking of HCL Comnet Systems and Services Limited, a subsidiary of the Company into the Company. The said Order became effective w.e.f. May 17, 2013 being the date of filing of the said order with the Office of Registrar of Companies, NCT of Delhi and Haryana.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10184451 |
15/11/2012 * |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B62041819 |
|
2 |
90199402 |
20/12/2000 |
632,000.00 |
ICICI LIMITED |
26-27; REHEJA TOWER, M.G. ROAD, BANGALORE, KARNATAKA - 56001, INDIA |
- |
|
3 |
90200568 |
20/12/2000 |
632,000.00 |
ICICI LIMITED |
26-27, RAHEJA TOWERS; M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
4 |
90199362 |
29/08/2000 |
846,000.00 |
ICICI LIMITED |
26-27; REHEJA TOWER, M.G. ROAD, BANGALORE, KARNATAKA - 56001, INDIA |
- |
|
5 |
90200529 |
29/08/2000 |
846,000.00 |
ICICI LIMITED |
26-27, RAHEJA TOWERS; M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible Assets
·
Freehold land
·
Leasehold land
·
Buildings
·
Plant
and Machinery
·
Computers
·
Furniture
and Fittings
·
Vehicles
Intangible Assets
·
Goodwill
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
81 |
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.