1. Summary Information
|
Country |
|
||
|
Company Name |
HEWLETT-PACKARD
INDIA SALES PRIVATE LIMITED |
Principal Name 1 |
Mrs. Neelam Dhawan |
|
Status |
Good |
Principal Name 2 |
Mr. Rajiv Shrivastava |
|
Registration # |
08-022727 |
||
|
Street Address |
24, Salarpuria
Arena, Hosur Main Road, Adugodi, Bangalore - 560030, Karnataka, India |
||
|
Established Date |
02.09.1997 |
SIC Code |
-- |
|
Telephone# |
91-80-25633555 / 23374785 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-80-25633222 / 51108014 |
Business Style 2 |
Trading |
|
Homepage |
Product Name 1 |
Computing and Imaging Solutions |
|
|
# of employees |
Not Divulged |
Product Name 2 |
Technology Products |
|
Paid up capital |
Rs.1,984,533,330/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings -100.00% |
Banking |
HDFC Bank |
|
Public Limited Corp. |
No |
Business Period |
17 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
Mauritius |
Compaq Computer |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
37315,000,000 |
Current Liabilities |
32752,000,000 |
|
Inventories |
9360,000,000 |
Long-term Liabilities |
287,000,000 |
|
Fixed Assets |
1337,000,000 |
Other Liabilities |
7589,000,000 |
|
Deferred Assets |
160,000,000 |
Total Liabilities |
40,628,000,000 |
|
Invest& other Assets |
258,000,000 |
Retained Earnings |
5817,000,000 |
|
|
|
Net Worth |
7802,000,000 |
|
Total Assets |
48,430,000,000 |
Total Liab. & Equity |
48,430,000,000 |
|
Total Assets (Previous Year) |
60,274,000,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
99,365,000,000 |
Net Profit |
963,000,000 |
|
Sales(Previous yr) |
87,293,000,000 |
Net Profit(Prev.yr) |
1095,000,000 |
MIRA INFORM REPORT
|
Report Date : |
25.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
HEWLETT-PACKARD INDIA SALES PRIVATE LIMITED (w.e.f. 18.03.2003) |
|
|
|
|
Formerly Known As
: |
COMPAQ COMPUTER ( |
|
|
|
|
Registered
Office : |
24, Salarpuria Arena, Hosur Main Road, Adugodi, Bangalore - 560030,
Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
02.09.1997 |
|
|
|
|
Com. Reg. No.: |
08-022727 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1985.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200KA1997PTC022727 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRH2830C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC9862F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Trading and Sale of computing and imaging solutions, other technology products and providing value added services for business and home. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 31200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established and a reputed company having a good track
record. Profitability of the company seems to be low. However, financial
position of the company seems to be sound. Trade relations are reported as trustworthy. Business is active. Payments
are reported to be regular and as per commitments. The company can 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-80-33824000)
LOCATIONS
|
Registered / Corporate
Office: |
24, Salarpuria Arena, Hosur Main Road, Adugodi, Bangalore - 560030,
Karnataka, India |
|
Tel. No.: |
91-80-25633555 / 23374785 |
|
Fax No.: |
91-80-25633222 / 51108014 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Locate at · Ahmedabad · Bangalore · Chandigarh · Chennai · Delhi · Gurgaon · Hyderabad · Kolkata · Mumbai · Pune · Rudrapur |
|
|
|
|
Branch Office : |
Ahmedabad 501, 5th Floor, Satkar Complex, Behind Swagath Building, Off C.G. Road, Navrangpura, Ahmedabad - 380009, Gujarat, India Bangalore HP GR Tech Park
Facility 10th & 11th floor, B wing, Akash Block, 6-9 floor, B
wing, Akash Block, Hewlett-Packard
GlobalSoft Limited HP Avenue, 39/40, Electronics City-II, Hosur Road, Bangalore - 560100, Karnataka, India Global e-Business
Operations Private Limited Wind Tunnel Road, Tower 1, GVH, Murugeshpalya Murugeshpalya Bangalore - 560017, Karnataka, India Hewlett-Packard
India Sales Private Limited No. 66/2, Ward No. 83, Bagmane Tech-Park, 4th Floor, Wing
A, Survey No. 192, Whitefield Road, Mahadevpura Road, Bangalore - 560048, Karnataka, India III Floor, Khanija Bhavan, 49, Race Course Road, Bangalore - 560001, Karonataka, India Surya Park 2, No.100, Ring Road, Bangalore - 560100, Karnataka, India Surya Wave,Sy # 61(p), Electronic City, Hosur Road, Bangalore - 560100, Karnataka, India 91 Ring Road, Electronic City, Suhas Tech Park, Bangalore - 560100, Karnataka, India Prathik Tech Park, Survey No 93/1, Veerasandra village, Attibele Hobli, Anekal Taluk, Electronic City Extension Bangalore - 560100, Karnataka, India Chennai Hewlett-Packard India Sales Private Limited No.2, HP Towers, Harrington Road, Chetpet, Chennai – 600031, Tamilnadu, India
Plot 1, Olympia Technology park, Citius block, SIDCO
industrial estate, Guindy, Block 1, 4F - 6F, Block 1, G - 3F, First Software Park, 110 Mount Poonamalle Road, Porur, Chennai - 600116, Tamilnadu, India Ground floor, Hewlett-Packard India Sales Private Limited No.18, ilabs Centre, 4th Floor, D- Block, 5th Floor, C -
Block, 5th Floor, D - Block, Madhapur, Hyderabad - 500081, Andhra
Pradesh, India Gurgaon 6th Floor, Tower-D, Global Business park, MG Road, Gurgaon – 122002, Haryana 2nd Floor, Tower A, Building No. 10, Rudrapur, U Hewlett-Packard India Sales Private Limited Plot No. 9-11A and 35-37A, Sector-V, Integrated Industrial
Estate, Pantnagar (SIDCUL), Rudrapur, US Nagar - 263153. Kolkata No 08, Major Arteral Road, Block -AF New Town 1st Floor, Rajarhat, Kolkata- 700156, West Bengal, India Mumbai 101-105, Pune Hewlett-Packard India Sales Private Limited Level 6, Pentagon P-2, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mrs. Neelam Dhawan |
|
Designation : |
Managing Director |
|
Address : |
Door No. 100, Sector – 26, Noida - 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
22.10.1959 |
|
Date of Appointment : |
30.09.2008 |
|
PAN No.: |
AAFPD3690L |
|
DIN No.: |
00871445 |
|
|
|
|
Name : |
Mr. Rajiv Shrivastava |
|
Designation : |
Director |
|
Address : |
Flat No. 631, Ats Greens Villl Exdpress Way, Plot No. 1, Sector – 93,
Noida – 201304, |
|
Date of Birth/Age : |
03.10.1964 |
|
Date of Appointment : |
26.09.2011 |
|
PAN No.: |
AYZPS4228F |
|
DIN No.: |
03568897 |
|
|
|
|
Name : |
Mr. Narayan Vasudeo Prabhutendulkar |
|
Designation : |
Director |
|
Address : |
J/ 73. Diamond District Airport Road, Bangalore – 560017, Karnataka,
India |
|
Date of Birth/Age : |
22.12.1957 |
|
Date of Appointment : |
11.05.2012 |
|
DIN No.: |
00869913 |
KEY EXECUTIVES
|
Name : |
Mr. Sriram Mohan |
|
Designation : |
Secretary |
|
Address : |
L/204, II Floor, Premier Grihalakshmi Apartments, S.M. Road, Jalahalli
(West), Bangalore – 560015, Karnataka, India
|
|
Date of Birth/Age : |
18.03.1983 |
|
Date of Appointment : |
28.04.2010 |
|
Pan No. : |
AQMPM7478A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Compaq Computers
(Mauritius), Mauritius |
|
198453322 |
|
Hewlett-Packard
Gouda B.V., The Netherlands |
|
11 |
|
Total |
|
198453333 |
As on 30.09.2013
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 : |
Manufacturing, Trading and Sale of computing and imaging
solutions, other technology products and providing value added services for business
and home. |
||||
|
|
|
||||
|
Products : |
· Computer Systems · Processors ·
Hardware ·
Software ·
Monitors ·
Storage ·
Servers ·
Software |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
HDFC Bank, |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
NOTE: Hewlett Packard India Sales Private Limited Finance lease obligation (secured) - INR 287.000 millions |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SR Batliboi and Associates LLP Chartered Accountants |
|
Address : |
1st Floor, Tower A, Building No 8, DLF Cyber City, Phase II, Sector 25 , Gurgaon - 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Holding Company: |
Compaq Computer, Mauritius |
|
|
|
|
Ultimate Holding
Company: |
Hewlett-Packard Company, USA |
|
|
|
|
Fellow
Subsidiaries: |
· China Hewlett-Packard Limited · EYP Mission Critical Facilities, Inc. · Hewlett Packard Servicios Profesionales S de RL de CV · Hewlett-Packard (Canada) Company · Hewlett-Packard (Israel) Limited · Hewlett-Packard (M) Sdn. Bhd. · Hewlett-Packard (Schweiz) GmbH · Hewlett-Packard (Thailand) Limited · Hewlett-Packard AP (Hong Kong) Limited · Hewlett-Packard Aps · Hewlett-Packard Asia Pacific PTE LIMITED · Hewlett-Packard Australia Pty Limited. · Hewlett-Packard Belgium B.V.B.A/S.P.R.L · Hewlett-Packard Brasil Ltda · Hewlett-Packard Company · Hewlett-Packard Corporation (M) Sdn. Bhd. · Hewlett-Packard Costa Rica, Ltda · Hewlett-Packard Customer Services Limited · Hewlett-Packard Development Company L.P. · Hewlett-Packard Espanola S.L. · Hewlett-Packard France SaS · Hewlett-Packard Galway Limited · Hewlett-Packard Gesellschaft m.b.H. · Hewlett-Packard Global Delivery Bulgaria Center EOOD · Hewlett-Packard Global Delivery Tunisia Center SARL · Hewlett-Packard GmbH · Hewlett-Packard HK SAR Limited · Hewlett-Packard International Pte Limited · Hewlett-Packard International Sa'rl · Hewlett-Packard International Trade B.V. · Hewlett-Packard Ireland, Limited · Hewlett-Packard Italiana SRL · Hewlett-Packard Japan Limited · Hewlett-Packard Korea Limited · Hewlett-Packard Limited · Hewlett-Packard Middle East FZ-LLE · Hewlett-Packard Multimedia SDN BHD · Hewlett-Packard Nederland B.V. · Hewlett-Packard New Zealand · Hewlett-Packard OY · Hewlett-Packard Philippines Incorporation · Hewlett-Packard Portugal LDA · Hewlett-Packard s.r.o · Hewlett-Packard Singapore (Pte.) Limited · Hewlett-Packard Singapore (Sales) Pte. Limited · Hewlett-Packard Slovakia, s.r.o. · Hewlett-Packard South Africa (Proprietary) Limited · Hewlett-Packard Sverige A.B. · Hewlett-Packard Taiwan Limited · Hewlett-Packard Vietnam Limited · HP Centre de Competence France SAS · HP Enterprise Services Delivery (China) Company Limited · HP Enterprise Services UK Limited · HP Enterprise Services, LLC · HP Indigo Limited · HP Manufacturing Limited · HP Services (Singapore) Pte Limited · HP Turkey S.t.I. · P.T. Hewlett-Packard Berca Servisindo · PT Hewlett-Packard Indonesia · S.C. Global E-Business Operations Centre SRL · Shanghai Hewlett-Packard Company Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
198453333 |
Equity Shares |
Rs.10/- each |
Rs.1985.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
|
1985.000 |
|
(b) Reserves & Surplus |
|
|
5817.000 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
7802.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
287.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
2117.000 |
|
(d) long-term
provisions |
|
|
5196.000 |
|
Total Non-current
Liabilities (3) |
|
|
7600.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
20364.000 |
|
(c) Other
current liabilities |
|
|
10271.000 |
|
(d) Short-term
provisions |
|
|
2393.000 |
|
Total Current
Liabilities (4) |
|
|
33028.000 |
|
|
|
|
|
|
TOTAL |
|
|
48430.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
1226.000 |
|
(ii)
Intangible Assets |
|
|
111.000 |
|
(iii)
Capital work-in-progress |
|
|
258.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
160.000 |
|
(d) Long-term Loan and Advances |
|
|
9099.000 |
|
(e) Other
Non-current assets |
|
|
1100.000 |
|
Total Non-Current
Assets |
|
|
11954.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
9360.000 |
|
(c) Trade
receivables |
|
|
16554.000 |
|
(d) Cash and
cash equivalents |
|
|
4029.000 |
|
(e)
Short-term loans and advances |
|
|
1104.000 |
|
(f) Other
current assets |
|
|
5429.000 |
|
Total
Current Assets |
|
|
36476.000 |
|
|
|
|
|
|
TOTAL |
|
|
48430.000 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1985.000 |
1984.533 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
4854.000 |
18041.733 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
6839.000 |
20026.266 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
6839.000 |
20026.266 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
821.000 |
1033.333 |
|
|
Capital work-in-progress |
|
343.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
732.000 |
219.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
6980.000
|
16835.930
|
|
|
Sundry Debtors |
|
16401.000
|
14990.051
|
|
|
Cash & Bank Balances |
|
18173.000
|
18086.902
|
|
|
Other Current Assets |
|
8104.000
|
679.898
|
|
|
Loans & Advances |
|
8720.000
|
8382.903
|
|
Total
Current Assets |
|
58378.000
|
58975.684
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
17797.000
|
19772.536
|
|
|
Other Current Liabilities |
|
15305.000
|
16253.461
|
|
|
Provisions |
|
20333.000
|
4175.754
|
|
Total
Current Liabilities |
|
53435.000
|
40201.751
|
|
|
Net Current Assets |
|
4943.000
|
18773.933
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
6839.000 |
20026.266 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
99365.000 |
87293.000 |
81982.932 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4266.000 |
3279.000 |
NA |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
585.000 |
379.000 |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX |
3681.000 |
2900.000 |
2678.715 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
2718.000 |
1805.000 |
1111.528 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
|
963.000 |
1095.000 |
1567.187 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Service Income |
14.000 |
31.000 |
|
|
|
|
|
Commission Income |
1995.000 |
1756.000 |
|
|
|
|
|
Miscellaneous Service Income (excluding prior period income of Rs. Nil (2012: Rs.24.000 millions)) |
226.000 |
391.000 |
|
|
|
|
TOTAL EARNINGS |
2235.000 |
4356.000 |
2243.495 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Traded goods |
52057.000 |
|
|
|
|
|
|
Raw materials and components |
7652.000 |
5223.000 |
|
|
|
|
|
Spare parts (including third party products) |
4599.000 |
3594.000 |
|
|
|
|
|
Capital goods |
433.000 |
328.000 |
|
|
|
|
TOTAL IMPORTS |
64741.000 |
56258.000 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
4.85 |
5.52 |
7.90 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.70
|
3.32
|
3.27
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.67
|
4.90
|
4.46
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.42
|
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.09
|
1.47
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
81982.932 |
87293.000 |
99365.000 |
|
|
|
6.477 |
13.829 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
81982.932 |
87293.000 |
99365.000 |
|
Profit |
1567.187 |
1095.000 |
963.000 |
|
|
1.91% |
1.25% |
0.97% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF KARNATAKA
Lower Court
Details [Appeal from below case.]
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CHANGE OF ADDRESS
The registered office of the company has been shifted from Digital Park, 92, Industrial Suburb, II Stage, Yeshwantpur, Bangalore, 560022, Karnataka, India to the present address w.e.f. 01.04.2008
CORPORATE
INFORMATION
The Company or HP Sales was incorporated on September 2nd, 1997 as a private limited company under the Companies Act, 1956. The Company is a subsidiary of Compaq Computers, Mauritius (the parent). HP Sales is a leading technology Company engaged in the manufacturing, trading and sale of computing and imaging solutions, other technology products and providing value added services for business and home.
FINANCIAL REVIEW
The year saw a growth of 13.83% in total revenue at Rs.99365.000 millions as against Rs.87293.000 millions of the previous year. The net profit of the company during the period under report has registered a fall of over 10.87 %compared to that of the previous year.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
||||||||||||||||||||||||
|
Bank Guarantees |
8283.000 |
5792.000 |
||||||||||||||||||||||||
|
Claims against the Company not acknowledged as debts* |
38426.000 |
26008.000 |
||||||||||||||||||||||||
|
Total |
46709.000 |
31800.000 |
||||||||||||||||||||||||
|
Note: *Claims against the Company not acknowledged as debts comprise of:
1 Represents service tax demand/liability with respect to certain services rendered to group companies. 2 The Company was served show-cause notices by the Directorate of Revenue Intelligence in the months of April, May and June, 2010 alleging differential customs duty liability aggregating to Rs 16,220.000 million along with interest and penalty thereon, in respect of transactions relating to import of spares, products, logistic charges etc. Following the show cause notices, Commissioners of Customs have passed orders on various dates confirming the demand against the Company for an amount of Rs 9,625.000 million along with penalty of Rs. 10,551.000 million and interest thereon. In addition to Rs. 342.000 million and Rs. 450.000 million deposited on September 29, 2008 and December 19, 2008 respectively, the Company has deposited additional amounts of Rs 173.000 million and Rs. 500.000 million in the month of May 2012 and December, 2012, respectively, towards customs duty, interest and penalties. The Company has filed appeals before the Appellate Authorities on various dates against the orders passed by Commissioners of Customs, which are pending hearing before the Appellate Authorities. As per the stay order passed by the Customs Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore in January, 2013, the company has made further deposit of Rs. 1,200.000 million in the month of March, 2013. The Company has made provision of Rs 2,765.000 million in its books. Based on advice of its external legal counsel, the Company does not expect liability on account of the above proceedings to exceed the provisions made in its books. The Company is also involved in other lawsuits and claims, which arise in the ordinary course of business. However, there are no such matters pending that the Company expects to be material in relation to its business. |
||||||||||||||||||||||||||
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
· Leasehold Improvements
v
Intangible
Assets
· Goodwill
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.70 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
52 |
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.