MIRA INFORM REPORT
|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
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Name
: |
WIPRO LIMITED |
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Registered
Office : |
Doddakannelli,
Sarjapur Road, Bangalore – 560035, Karnataka |
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Country
: |
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Financials
(as on) : |
31.03.2014 |
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Date
of Incorporation : |
29.12.1945 |
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Com.
Reg. No.: |
08-020800 |
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Capital
Investment / Paid-up Capital : |
Rs.4932.000
Millions |
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CIN
No.: [Company
Identification No.] |
L32102KA1945PLC020800 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
NSKW00128C/PNEW00325D |
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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 : |
Providing Services of IT
and IS consulting for E-business transformation, electronic commerce, web
enabling, data warehousing and customer relation's management. |
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No.
of Employees : |
Permanent Employee=133425,
Contract / Non-Core=25575 |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD
1170000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a third
largest Indian player in the global IT services outsourcing industry. It is a
well-established and reputed company having a fine track record. The rating takes into
consideration leading position among Indian players in the global IT services
outsourcing segment supported by established client base and diversified
range of service offerings. Further rating also reflects strong financial
risk profile marked by strong liquidity position and decent profitability
achieved by the company. Trade relations are
reported as fair. Business is active. Payments are repaired to be regular and
as per commitments. The company can be
considered good for normal 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 |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very
High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA
|
|
Rating |
Fund
based facilities: AAA |
|
Rating Explanation |
Highest
degree of safety and lowest credit risk. |
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Date |
May
2014 |
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Rating Agency Name |
ICRA
|
|
Rating |
Fund
based facilities: A1+ |
|
Rating Explanation |
Very
strong degree of safety and lowest credit risk. |
|
Date |
May
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 DENIED
Management Non Co-operative (91-80-28440011)
LOCATIONS
|
Registered/ Corporate Office 1 : |
Doddakannelli, Sarjapur Road, Bangalore – 560
035, Karnataka, India |
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Tel. No.: |
91-80-28440011 |
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Fax No.: |
91-80-28440054 |
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E-Mail : |
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Website : |
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Corporate Office 2 : |
122, Part 1, EPIP, Bangalore – 560066, Karnataka, India.
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Software Technology Parks: |
·
Bangalore,
Karnataka ·
Secunderabad,
Andhra Pradesh ·
Pune,
Maharashtra ·
Gurgaon,
Haryana ·
Hyderabad,
Andhra Pradesh ·
Mumbai,
Maharashtra |
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Factory : |
> > S B Towers, 88, M > 608-610, > > 271-27 1 A, Sri Ganesh Complex, > 26, Sri Chamundi Complex, Madivala
II, Bommanahalli, Hosur Main Road, Bangalore - 560 068, Karnataka, India > No. l, 2, 3, 4 and 54/1, Survey No.
201/C, Madivala III, Bangalore - 560 068, Karnataka, India > No. l, 2, 3, 4 and 54/1, Survey No.
201/C, Madivala III (Research and Development), > No. 1 , 2, 3, 4 and 54/3, Survey No.-
201/C, Madivala IV, Bangalore – 560 068, Karnataka, India > 3rd Floor, >
Subramanya Arcade, Bannergatta Main Road, Bangalore, Karnataka, India > K-3 1 2,
Koramangala Industrial Layout, Bangalore - 560 095, Karnataka, India > V Block,
Koramangala, Bangalore - 560 095, Karnataka, India > > > No.92, 2nd > S. No. 70/1, 2, 3, 4(P) and. 84/1, 2,
3,
Hobli, ' > Capitale, 552 and. 555, Anna Salai,
Teynampet, Chennai, > 475A, Shollinganallur, > 111, Mount Road, Guindy, Chennai -
600 032, > No. 105, Guindy, > > > 239, Okhla Industrial Estate, > Plot No.27/28, Phase IV, Udyog Vihar,
Gurgaon - 122 016, > Plot No. 281,Phase II, Udyog Vihar,
Gurgaon - 122 106, > No. 480-481, Udyog Vihar, Phase-Ill,
Gurgoan - 122015, > S.
No. 203/1, Manikonda Jagir Village, Rajendranagar Mandal, RR District, Hyderabad, India >
Survey Nos. 64, Serilingampali Mandal, Madhapur, Hyderabad - 500 033, India > > Plot No. 1, 7, 8 and 9, Block-DM,
Sector- V, Saltlake, Kolkata - 700 091,
West > 146/147, Mettagalli Industrial Area,
Mettagalli, > Vashi, Navi Mumbai, Mumbai, > Plot No. 2, MIDC, > 1-8-448, |
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Overseas Offices : |
1300, Tel. No. : 91-650-3163555 Fax No. : 91-650-3163467 Mimet House, Tel. No. : +44- 020-70873770 Fax No. : +44 -020-72625360 Tel. No. : +81-45- 650 3950 Fax No. : +81 -45-650 3951
Wipro
Technologies
1995, El Camino
Real, Suite 200, Santa Clara, CA 95050, USA Tel. No.: 91-408-249 6345 Fax No.: 91-408- 6157174 / 6157178 15455 N. W., Tel. No.: 91-503- 4390825 Fax No.: 91-503- 4398426 10655 N. E., 4th Street, Suite 400, Bellevue, WA 98004, USA Tel. No.: 91-425 -4553486 Fax No.: 91-425 -6880973 833, Tel. No.: 91-972-
6716130 Fax No.: 91-972-
6716134 2432, W. Peoria
Avenue, Suite 1323, Phoenix, AZ 85029, USA Tel. No.: 91-602-
8705780 Extn.: 101 100, W. 22nd Street, Tel. No.: 91-630- 8899860 Fax No.: 91-630 -8899187 8901, Tel. No.: 91-952-9489683 Fax No.: 91-952- 9489684 12081, Tel. No.: 303-254 2457 Fax No.: 720-244 4872 Tel. No.: 978-372 9531 Fax No.: 978-372 9560 345, Buckland Hills, Dr. Suite 7213, Tel. No.: 860-644 3657 Fax No.: 860-644 3667 220, Tel. No.: 732-4650401 Fax No.: 732-4650420 Top Floor, 2432, W Peoria
Ave, Suite 1323, Phoenix, Arizona, USA AZ 85029 Room no. 1064, Hatanpaankatu 1 (Kulma-Sarvis),
Tampere, Finland Web Campus, Kaistrasse, 101 |
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Branch Office : |
Wipro Infotech Software and Service
88,
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DIRECTORS
As on 23.07.2014
|
Name : |
Mr. Azim Hashmi Premji |
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Designation : |
Chairman |
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Date of Appointment : |
01.09.1968 |
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Name : |
Mr. T. K. Kurien |
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Designation : |
Executive Director Chief Executive Officer |
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Name : |
Mr. Suresh C. Senapaty |
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Designation : |
Executive Director and Chief Financial Officer |
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Name : |
Dr. Ashok S. Ganguly |
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Designation : |
Independent Directors |
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Name : |
Mr. M. K. Sharma |
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Designation : |
Director |
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Name : |
Mr. B. C. Prabhakar |
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Designation : |
Director |
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Name : |
Dr. Henning Kagermann |
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Designation : |
Director |
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Name : |
Mr. Narayanan Vaghul |
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Designation : |
Director |
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Name : |
Dr. Jagdish N. Sheth |
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Designation : |
Directors |
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Name : |
Priya Mohan Sinha |
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Designation : |
Director |
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Name : |
Mr. Vyomesh Joshi |
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Designation : |
Director |
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Name : |
Mr. William Arthur Owens |
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Designation : |
Director |
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Name : |
Mr. Shyam Saran |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. V Ramachandran |
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Designation : |
Company Secretary |
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Name : |
Mr. Suresh C. Senapaty |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholder |
No. of Shares |
Percentage of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
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Individuals /
Hindu Undivided Family |
95419432 |
3.94 |
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|
11406331 |
0.47 |
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|
1705196701 |
70.48 |
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|
1275482581 |
52.72 |
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|
429714120 |
17.76 |
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|
1812022464 |
74.89 |
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Total
shareholding of Promoter and Promoter Group (A) |
1812022464 |
74.89 |
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(B) Public
Shareholding |
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|
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|
51417733 |
2.13 |
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|
6417905 |
0.27 |
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|
39706615 |
1.64 |
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|
231978566 |
9.59 |
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|
329520819 |
13.62 |
|
|
|
|
|
|
102349545 |
4.23 |
|
|
|
|
|
|
52135669 |
2.15 |
|
|
76597932 |
3.17 |
|
|
46799372 |
1.93 |
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|
26571957 |
1.10 |
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|
43378 |
0.00 |
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|
18752429 |
0.78 |
|
|
331156 |
0.01 |
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|
1100452 |
0.05 |
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|
277882518 |
11.49 |
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Total Public
shareholding (B) |
607403337 |
25.11 |
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Total (A)+(B) |
2419425801 |
100.00 |
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
47809747 |
0.00 |
|
|
47809747 |
0.00 |
|
Total
(A)+(B)+(C) |
2467235548 |
0.00 |
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%20%2020-Oct-2014_files/image020.png)
BUSINESS DETAILS
|
Line of Business : |
Providing services of IT
and IS consulting for E-business transformation, electronic commerce, web
enabling, data warehousing and customer relation's management. |
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Products : |
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PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed Capacity |
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Vanaspati
/ Hydrogenated oils |
TPA |
45000 |
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Toilet
Soaps |
TPA |
134026 |
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Leather
shoe uppers |
TPA |
750 |
|
Fatty
acids |
TPA |
78450 |
|
Glycerine |
TPA |
1650 |
|
General
lighting systems lamps |
000s |
110305 |
|
Fluorescent
tube lights |
000s |
27097 |
|
Compact
flourescent lamps |
000s |
23355 |
|
Mini
computers/microprocessor based systems and data communication systems |
|
691200 |
|
Hydraulic
and Pneumatic tubes |
Nos.
in 000s |
831140 |
|
Tipping
Gear systems |
NPA |
50000 |
NOTES:
·
@ Installed capacities are as per certificate given
by management on which auditors have relied.
·
TPA indicates tons per annum
·
# NPA indicates nos. per annum
·
** The company is exempt from the licensing provisions
of the Industries (Development Regulation) Act, 1951.
GENERAL INFORMATION
|
No. of Employees : |
Permanent Employee=133425,
Contract / Non-Core=25575 |
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Bankers : |
·
Canara
Bank, Bangalore, Karnataka, India ·
State
Bank of India, Madame Cama Road, Nariman Point, Mumbai – 400021,
Maharashtra, India ·
Citibank
N.A., Kanak Building, 41, Chowringhee Road, Kolkata – 700071, West Bengal,
India |
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Facilities
: |
NOTES: Long Term Borrowings Obligation under finance lease is secured by
underlying fixed assets. These obligations are repayable in monthly
installments up to year ending March 31, 2018. The interest rate for these
obligations ranges from 9.75% to 17.2%. |
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Banking
Relations : |
-- |
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Auditors : |
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Name
: |
KMPG (IFRS) Chartered Accountants |
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Statutory Auditors : |
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Name
: |
BSR and Company Chartered Accountants |
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Associates : |
·
Wipro GE Healthcare Private
Limited [Address: Plot
No. 4, Kadugodi Industrial Area Sadaramangala, Bangalore – 560067, Karnataka,
India] ·
Wipro Kawasaki Precision
Components Pvt Ltd |
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Subsidiaries : |
·
Wipro LLC (formerly Wipro Inc.) ·
Wipro Gallagher Solutions Inc. ·
Infocrossing Inc., USA ·
Wipro Promax Analytics Solutions
LLC [Formerly Promax Analytics Solutions Americas LLC], USA ·
Wipro Insurance Solution LLC ·
Opus Capital Markets ·
Consultants LLC ·
Opus Technology Services LLC ·
Wipro Japan KK, Japan ·
Wipro Shanghai Limited, China ·
Wipro Trademarks Holding
Limited, India ·
Wipro Travel Services Limited,
India ·
Wipro Holdings (Mauritius)
Limited, Mauritius ·
Wipro Holdings UK Limited U.K. ·
Wipro Holding Austria GmbH(A)
Austria ·
3D Networks (UK) Limited ·
Wipro Europe Limited (A), U.K. ·
Wipro Cyprus Private Limited,
Cyprus ·
Wipro Doha LLC#, Qatar ·
Wipro Technologies S.A DE C. V,
Mexico ·
Wipro BPO Philippines LIMITED.
Inc, Philippines ·
Wipro Holdings Hungary Korlátolt
Felelősségű Társaság, Hungary ·
Wipro Technologies Argentina SA,
Argentina ·
Wipro Information Technology
Egypt SAE, Egypt ·
Wipro Arabia Limited*, Saudi
Arabia ·
Wipro Poland Sp Zoo, Poland ·
Wipro IT Services Poland Sp. z
o. o, Poland ·
Wipro Outsourcing Services UK
Limited, U.K. ·
Wipro Technologies South Africa
(Proprietary) Limited, South Africa ·
Wipro Technologies Nigeria
Limited, Nigeria ·
Wipro Information Technology
Netherlands BV, Netherland ·
Wipro Portugal S.A.(A) Portugal ·
Wipro Technologies Limited,
Russia ·
Wipro Technology Chile SPA,
Chile ·
Wipro Technologies Canada
Limited, Canada ·
Wipro Information Technology
Kazakhstan LLP, Kazakhstan ·
Wipro Technologies W.T. Sociedad
Anonima ·
Wipro Outsourcing Services
(Ireland) Limited ·
Wipro Technologies Norway AS,
Norway ·
Wipro Technologies VZ, C.A.,
Venezuela ·
Wipro Technologies SRL, Romania ·
PT WT Indonesia, Indonesia ·
Wipro Australia Pty Limited,
Australia ·
Wipro Promax Holdings Pty
Limited (formerly Promax Holdings Pty Limited) (A), Australia ·
Wipro Technocentre (Singapore)
Pte Limited, Singapore ·
Wipro (Thailand) Co Limited,
Thailand ·
Wipro Bahrain Limited WLL,
Bahrain ·
Wipro Gulf LLC, Sultanate of
Oman ·
Wipro Technologies Spain S.L.,
Spain ·
Wipro Networks Pte Limited
(formerly 3D Networks Pte Limited), Singapore · Planet PSG Pte Limited, Singapore ·
Wipro Technologies SDN BHD,
Malaysia ·
Wipro Chengdu Limited, China ·
Wipro Airport IT Services
Limited*, India ·
Wipro Holding Austria GmbH ·
Wipro Technologies Austria GmbH
,Austria ·
New Logic Technologies SARL,
France ·
Wipro Europe Limited (formerly
SAIC Europe Limited) ·
Wipro UK Limited U.K. ·
Wipro Europe SARL, France ·
Wipro Portugal S.A. ·
SAS Wipro France, France ·
Wipro Retail UK Limited, U.K. ·
Wipro do Brasil Technologia
Ltda, Brazil ·
Wipro Technologies Gmbh, Germany ·
Wipro Promax Holdings Pty
Limited (formerly Promax Holdings Pty Limited) ·
Wipro Promax Analytics Solutions
Pty Limited (formerly Promax Applications Group Pty Limited), Australia ·
Wipro Promax IP Pty Limited
(formerly PAG IP Pty Limited), Australia ·
Wipro Promax Analytics Solutions
(Europe) Limited [formerly Promax Analytics Solutions (Europe) Limited], UK NOTE: In addition to above, the Company controls ‘The
Wipro SA Broad Based Ownership Scheme Trust’ and Wipro SA Broad Based
Ownership Scheme SPV (RF) (PTY) LIMITED incorporated in South Africa. * All the above direct subsidiaries are 100% held
by the Company except that the Company holds 66.67% of the equity securities
of Wipro Arabia Limited and 74% of the equity securities of Wipro Airport IT
Services Limited. # 51% of equity securities of Wipro Doha LLC are
held by a local share holder. However, the beneficial interest in these
holdings is with a wholly owned subsidiary of the company. (A) Step Subsidiary details of Wipro Holding
Austria GmbH, Wipro Portugal S.A, Wipro Europe Limited and Wipro Promax
Holdings Pty Limited are as follows: |
|
|
|
|
Entity controlled by Director : |
·
Wipro Equity Reward Trust Trust
Fully controlled trust, India ·
Wipro Inc Benefit Trust Trust
Fully controlled trust, India ·
Azim Premji Foundation (I)
Private Limited ·
Hasham Traders (partnership
firm) ·
Prazim Traders (partnership firm)
·
Zash Traders (partnership firm) ·
Regal Investment & Trading
Company Private Limited ·
Vidya Investment & Trading
Company private Limited ·
Napean Trading & Investment
Company Private Limited ·
Azim Premji Trust ·
Wipro Enterprises Limited
(formerly known as Azim Premji Custodial Services Private Limited) ·
Entity controlled by Director ·
Wipro Enterprises Cyprus Limited
(formerly WMNETSERV Limited) ·
Wipro Singapore Pte Limited ·
Wipro Unza Holdings Limited ·
Wipro Infrastructure Engineering
AB |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2650000000 |
Equity Shares |
Rs.2/- each |
Rs.5300.000 Millions |
|
25000000 |
10.25% Redeemable
Cumulative Preferences Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.5550.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2466317273 |
Equity Shares |
Rs.2/- each |
Rs.4932.635 Millions |
|
|
|
|
|
Subsequent to
March 31, 2014, the authorised equity and preference share capital of the
Company has been increased to 2,917,500,000 and 25,150,000, respectively, pursuant
to the approval of the scheme of amalgamation for merger of Wipro Technology
Services Limited and Wipro Energy IT Services India Private Limited with the
Company
Terms / Rights
attached to equity shares
The Company has
only one class of equity shares having a par value of ` 2 per share. Each
holder of equity shares is entitled to one vote per share. The Company declares
and pays dividend in Indian Rupees. The dividend proposed by the Board of
Directors is subject to shareholders approval in the ensuing Annual General
Meeting.
Following is the
summary of per share dividends recognised as distributions to equity
shareholders:
|
Particular |
For the year ended march 31, 2014 |
|
Interim Dividend |
Rs.3 |
|
Final Dividend |
Rs.5 |
In the event of liquidation
of the Company, the equity shareholders will be entitled to receive the
remaining assets of the Company, after distribution of all preferential
amounts, if any, in proportion to the number of equity shares held by the
shareholders.
Reconciliation of number of shares:
|
Particular |
As on 31.03.2014 |
|
|
No. of Shares |
Rs. in Millions |
|
|
Opening number of equity shares / American
Depository Receipts (ADRs)
outstanding |
2462934730 |
4926.000 |
|
Equity shares / American Depository Receipts
(ADRs) issued pursuance to Employee
Stock Option Plan |
3382543 |
6.000 |
|
Closing number of equity
shares / ADRs outstanding |
2466317273 |
4932.000 |
Details of shareholders
having more than 5% of the total equity shares of the Company
|
Name of the Shareholder |
As on 31.03.2014 |
|
|
No. of Shares |
% held |
|
|
Azim Hasham Premji
Partner representing Hasham Traders |
370956000 |
15.04 |
|
Azim Hasham Premji
Partner representing Prazim Traders |
452906791 |
18.36 |
|
Azim Hasham Premji
Partner representing Zash Traders |
451619790 |
18.31 |
|
Azim Premji Trust |
429714120 |
17.42 |
Other details of Equity
Shares for a period of five years immediately preceding March 31, 2014
|
Particular |
31.03.2014 |
|
Aggregate number of share allotted as fully paid
up pursuant to contract(s) without payment being received in cash (Allotted to the Wipro Inc Trust, the sole
beneficiary of which is Wipro LLC, a wholly owned subsidiary of the
Company, in consideration of acquisition of inter-company investments) |
841585 |
|
Aggregate number of
shares allotted as fully paid bonus shares |
979119256 |
|
Aggregate number of
shares bought back |
-- |
Shares reserved
for issue under option
For details of shares reserved for issue under the employee stock option
plan of the Company.
FINANCIAL
DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a)
Share Capital |
4932.000 |
4926.000 |
4917.000 |
|
(b)
Reserves & Surplus |
288627.000 |
237369.000 |
238608.000 |
|
(c)
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
293559.000 |
242295.000 |
243525.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10061.000 |
590.000 |
22022.000 |
|
(b) Deferred tax liabilities (Net) |
1379.000 |
528.000 |
58.000 |
|
(c) Other long term
liabilities |
629.000 |
118.000 |
355.000 |
|
(d) long-term
provisions |
2585.000 |
2289.000 |
2593.000 |
|
Total Non-current
Liabilities (3) |
14654.000 |
3525.000 |
25028.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
35042.000 |
39870.000 |
30410.000 |
|
(b) Trade payables |
53905.000 |
49228.000 |
38922.000 |
|
(c) Other current liabilities |
24013.000 |
38054.000 |
20507.000 |
|
(d) Short-term
provisions |
36196.000 |
34094.000 |
27567.000 |
|
Total Current
Liabilities (4) |
149156.000 |
161246.000 |
117406.000 |
|
|
|
|
|
|
TOTAL |
457369.000 |
407066.000 |
385959.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
36215.000 |
35560.000 |
41961.000 |
|
(ii) Intangible Assets |
3535.000 |
3534.000 |
4537.000 |
|
(iii) Capital work-in-progress |
2751.000 |
3789.000 |
3012.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
51968.000 |
48547.000 |
62943.000 |
|
(c) Deferred tax assets (net) |
1487.000 |
1151.000 |
326.000 |
|
(d) Long-term Loan and Advances |
29981.000 |
25168.000 |
25094.000 |
|
(e) Other
Non-current assets |
5390.000 |
5469.000 |
9194.000 |
|
Total Non-Current
Assets |
131327.000 |
123218.000 |
147067.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
58392.000 |
60495.000 |
40409.000 |
|
(b) Inventories |
2283.000 |
3205.000 |
7851.000 |
|
(c) Trade receivables |
85509.000 |
84994.000 |
79670.000 |
|
(d) Cash and cash equivalents |
105549.000 |
78004.000 |
62328.000 |
|
(e) Short-term loans and advances |
29293.000 |
21244.000 |
17521.000 |
|
(f) Other current assets |
45016.000 |
35906.000 |
31113.000 |
|
Total Current Assets |
326042.000 |
283848.000 |
238892.000 |
|
|
|
|
|
|
TOTAL |
457369.000 |
407066.000 |
385959.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
387572.000 |
332265.000 |
316829.000 |
|
|
|
Other Income |
16112.000 |
13253.000 |
12274.000 |
|
|
|
TOTAL (A) |
403684.000 |
345518.000 |
329103.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of Sales and Services |
2053.000 |
3542.000 |
14475.000 |
|
|
|
Purchases of
Stock-In-Trade |
22858.000 |
23472.000 |
32086.000 |
|
|
|
Changes in Inventories of
Finished Goods, Work in Progress and Stock-In-Trade |
9.000 |
(182.000) |
449.000 |
|
|
|
Employee Benefits Expense |
183375.000 |
159042.000 |
133115.000 |
|
|
|
Amortization
expense |
0.000 |
0.000 |
66.000 |
|
|
|
Other Expenses |
88193.000 |
77056.000 |
76274.000 |
|
|
|
TOTAL (B) |
296488.000 |
262930.000 |
256465.000 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
107196.000 |
82588.000 |
72638.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
3747.000 |
3524.000 |
6057.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
103449.000 |
79064.000 |
66581.000 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
7367.000 |
7013.000 |
7395.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX (E-F) (G) |
96082.000 |
72051.000 |
59186.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22208.000 |
15549.000 |
12335.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX (G-H) (I) |
73874.000 |
56502.000 |
46851.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
78371.000 |
51684.000 |
26663.000 |
|
|
|
|
|
|
|
|
|
|
ADJUST ON ACCOUNT OF DEMERGER |
0.000 |
(4026.000) |
0.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
7404.000 |
4932.000 |
4917.000 |
|
|
|
Proposed dividend |
12332.000 |
12315.000 |
9835.000 |
|
|
|
Tax on Dividend |
3353.000 |
2892.000 |
2393.000 |
|
|
|
Amount transfer to
general reserve |
7387.000 |
5650.000 |
4685.000 |
|
|
BALANCE CARRIED TO THE B/S |
121769.000 |
78371.000 |
51684.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on F.O.B.
basis |
7654.000 |
8179.000 |
8554.000 |
|
|
|
Services |
336754.000 |
272582.000 |
225640.000 |
|
|
|
Agency Commission |
280.000 |
264.000 |
219.000 |
|
|
TOTAL EARNINGS |
344688.000 |
281025.000 |
234413.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material, Components
& Peripherals |
15242.000 |
21017.000 |
22982.000 |
|
|
|
Stores and Spares |
147.000 |
189.000 |
212.000 |
|
|
|
Capital Goods |
1.000 |
0.000 |
394.000 |
|
|
TOTAL IMPORTS |
15390.000 |
21206.000 |
23588.000 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) (Basic) |
30.09 |
23.03 |
19.13 |
|
|
|
Earnings / (Loss) Per Share (Rs.) (Diluted) |
30.01 |
22.99 |
19.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
18.30 |
16.35 |
14.24 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
24.79 |
21.68 |
18.68 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
23.95 |
20.38 |
18.51 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.30 |
0.24 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Debt /Networth) |
|
0.15 |
0.17 |
0.22 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
2.19 |
1.76 |
2.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Share Capital |
4917.000 |
4926.000 |
4932.000 |
|
Reserves & Surplus |
238608.000 |
237369.000 |
288627.000 |
|
Net worth |
243525.000 |
242295.000 |
293559.000 |
|
|
|
|
|
|
long-term
borrowings |
22022.000 |
590.000 |
10061.000 |
|
Short term borrowings |
30410.000 |
39870.000 |
35042.000 |
|
Total borrowings |
52432.000 |
40460.000 |
45103.000 |
|
Debt/Equity ratio |
0.215 |
0.167 |
0.154 |
%20%2020-Oct-2014_files/image022.png)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Sales |
316,829.000 |
332,265.000 |
387,572.000 |
|
|
|
4.872 |
16.645 |
%20%2020-Oct-2014_files/image024.png)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Sales |
316,829.000 |
332,265.000 |
387,572.000 |
|
Profit |
46,851.000 |
56,502.000 |
73,874.000 |
|
|
14.79% |
17.01% |
19.06% |
%20%2020-Oct-2014_files/image026.png)
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 |
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 |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
LITIGATION DETAILS
CASE PENDING
|
|||||||||||||||||||||||||||||||||||||||||
UNSECURED LOANS
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Term Loan |
|
|
|
External Commercial Borrowings |
8985.000 |
0.000 |
|
Others |
16.000 |
86.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from banks |
35042.000 |
39870.000 |
|
|
|
|
|
Total |
44043.000 |
39956.000 |
NOTE:
Long Term Borrowings
·
The Company entered into an arrangement with a
consortium of banks to obtain External Commercial Borrowings (ECB) during the
year ended March 31, 2014. Pursuant to this arrangement, the Company has
availed ECB of 150 million dollar repayable in full in June 2018. The ECB
carries an average interest rate of 2.46% p.a. (2013: 1.94% p.a.). The ECB is
an unsecured borrowing and the Company is subject to certain customary
restrictions on additional borrowings and quantum of payments for acquisitions
in a financial year.
·
Unsecured loans from others are repayable in
monthly installments within the year ending March 31, 2016. The interest rates
for these loans range from 0% to 12% (2013: 0%).
As at March 31, 2014 and 2013, the Company has complied with all the covenants
under the loan arrangements.
Short Term
Borrowings
Rate of Interest for PCFC loan ranges from 1% - 2% and other than PCFC
loan is 12.2%.
INDEX OF CHARGES: No Charges Exist for Company
FINANCIAL
PERFORMANCE
Profit for the standalone
results is after considering loss of Rs.2.607 million [2013: Rs. (1,107)]
relating to changes in fair value of forward contracts designated as hedges of
net investment in non-integral foreign operations, translation of foreign
currency borrowings and changes in fair value of related cross currency swaps
together designated as hedges of net investment in non-integral foreign
operations. In the Consolidated Accounts, these are considered as hedges of net
investment in no integral foreign operations and are recognized directly in
shareholder’s fund.
OUTLOOK
According to
Nasscom Strategic Review 2014, IT- BPM exports are estimated to cross USD 86
billion in FY 2014, growing at 13 per cent. The ability of the industry to
suggest solutions that customers need, in addition to offer what they want has
been a crucial factor in the rise. While US continues to be the largest
geographic market for India, accounting for 62 percent, the highlight for the
year was revival in demand from Europe, which grew at 14 per cent in FY 2014.
BFSI continues to be the largest vertical segment accounting 41 per cent of
industry exports; however emerging verticals such as Retail, Healthcare and
Utilities are estimated to grow faster.
IT Services is
expected to grow at 14.3 per cent in FY 2014, ER & D exports are estimated
to grow by an estimated 11.1 per cent in FY 2014 driven by domain – specific
solutions focusing on convergence customization, efficiencies and localization.
BPM services
growth could be at 11.9 per cent in FY 2014 boosted by demand from selected
customers reverting to Outsourcing Business Process, especially from the BFSI,
Automotive and Retail sectors. Software Products growth of 9.5 per cent due to
increased demand for vertical- specific and SMAC- based solutions. With the
advent of Cloud, the next big opportunity in India’s 47 million SMBs – who are
able to rapidly bridging the technology adoption gap as they seek to accelerate
growth, and increase competitiveness that customers need, in addition to offer
what they want has been a crucial factor in the rise. While US continues to be
the largest geographic market for India, accounting for 62 percent, the
highlight for the year was revival in demand from Europe, which grew at 14 per
cent in FY 2014. BFSI continues to be the largest vertical segment accounting
41 per cent of industry exports; however emerging verticals such as Retail,
Healthcare and Utilities are estimated to grow faster.
IT Services is
expected to grow at 14.3 per cent in FY 2014, ER & D exports are estimated
to grow by an estimated 11.1 per cent in FY 2014 driven by domain – specific
solutions focusing on convergence customization, efficiencies and localization.
BPM services
growth could be at 11.9 per cent in FY 2014 boosted by demand from selected
customers reverting to Outsourcing Business Process, especially from the BFSI,
Automotive and Retail sectors. Software Products growth of 9.5 per cent due to
increased demand for vertical- specific and SMAC- based solutions. With the
advent of Cloud, the next big opportunity in India’s 47 million SMBs – who are
able to rapidly bridging the technology adoption gap as they seek to accelerate
growth, and increase competitiveness.
MERGER
Pursuant to
Sections 391 to 394 of the Companies Act, 1956, and approval by the Honorable
High Court of Karnataka of the Scheme of Arrangement, Wipro Energy IT Services
India Private Limited and Wipro Technology Services Limited, the two subsidiary
companies merged with Wipro Limited and the merger is effective on April 9,
2014 with effect from Appointed date of April 1, 2013.
FIXED ASSETS:
·
Land
·
Buildings
·
Railway siding
·
Plant and Machinery
·
Furniture, Fixture and Equipments
·
Vehicles
·
Technical Know-how
·
Patents, Trademarks and Rights
CHAERGES:
|
ENTITY |
PERSON |
COMPETENT
AUTHORITY |
REGULATORY
CHARGES |
REGULATORY
ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
|
WIPRO LIMITED |
|
CBEC |
DEFAULTED IN PAYMENT OF CUSTOMS/EXCISE DUTIES |
NOTICE ISSUED UNDER SECTION
142 OF CUSTOMS ACT, 1962 |
|
PRESS
RELEASE
WIPRO SELECTED AS DOW JONES SUSTAINABILITY INDEX (DJSI) MEMBER
FOR THE 5TH CONSECUTIVE YEAR
Bangalore,
India - September 23, 2014: Wipro Ltd. (NYSE:WIT), a leading global information
technology, consulting and business process services company today announced
that it has been selected as a member of the global Dow Jones Sustainability
Index (DJSI) - 2014 for the fifth year in succession. Wipro is included in both
the DJSI World and Emerging Markets Indices. Further, Wipro is the global
sector leader for the software and services industry.
A total
of 1813 companies were assessed from around the world of which 319 have been
chosen as the DJSI World constituents for the year 2014-15, the IT Services
sector saw 74 companies participating globally of which 7 have been selected
for the World Index.
DJSI is
a leading global indicator tracking the financial performance of companies
across all industries that outperform on Sustainability. The selection was done
on the basis of an exhaustive, rigorous evaluation of Wipro's sustainability
performance on several dimensions spanning economic, environment and social
sustainability - a few examples are Climate Change Performance, Corporate
Governance, Innovation, Labor Practices and Digital Inclusion.
Speaking
about this achievement, Anurag Behar, Chief Sustainability
Officer, Wipro Limited, said,
"We are honored to be included as a member in the DJSI (World) for the
fifth successive year. DJSI's rigorous and comprehensive assessment helps us
constantly calibrate and strengthen our sustainability programs across
economic, ecological and social dimensions."
The
DJSI follows a best-in-class approach, including companies across all
industries that outperform their peers in numerous sustainability metrics. Launched
in 1999, the DJSI are the first global indexes tracking the financial
performance of the leading sustainability-driven companies worldwide.
WIPRO ENTERS PREMIER PARTNERSHIP WITH ADOBE
FOR DIGITAL MARKETING SERVICES
Bangalore,
India, and East Brunswick, New Jersey, USA - September 12, 2014: Wipro Ltd.
(NYSE:WIT), a leading global information technology, consulting and business
process services company today announced that it has entered into a Premier
Partnership with Adobe (NASDAQ: ADBE), a leader in digital marketing platforms.
Wipro is the first Indian Global IT services company to attain this level of
partnership.
With its
strong advisory, consulting and delivery capabilities in digital space, Wipro
will partner with Adobe in creating integrated marketing, commerce, analytics
and customer experience solutions. These solutions will help businesses to
better understand and win customers, increase share of wallet and differentiate
through targeted, relevant and consistent conversations across multiple devices
and channels.
"We
are delighted to partner with Adobe, a powerhouse in industry-leading creative
and marketing solutions. This partnership will help us jointly deliver next
generation digital marketing solutions and enhance Wipro's leadership in
helping enterprises build rich customer experiences, enable customer insights
and bring products and services to the market faster," said TK
Kurien, Chief Executive Officer and Member of the Board, Wipro Limited.
Shantanu
Narayen, President and CEO, Adobe said, "All businesses are faced with the
challenge of becoming digital businesses and CMOs and CIOs both play a critical
role in that transformation. Adobe's best-in-class digital marketing solutions
combined with Wipro's extensive IT consulting, implementation and integration
expertise, will answer the call for today's digital enterprises."
The newly
formed business unit, Wipro Digital enables businesses in their
Digital Transformation initiatives to adapt and be relevant in the increasingly
digital lifestyle of their customers. Wipro Digital brings together three
capabilities - strategy, design & technology, to define unique and
immersive customer interactions through seamless front-to-back integration
underpinned by exclusive customer insights.
About
Adobe Systems Incorporated
Adobe is changing the world through digital experiences. For more information,
visit www.adobe.com.
WIPRO TO INVEST IN OPEN SOURCE TECHNOLOGIES, METHODOLOGIES AND
SERVICES
To build
a Large Cadre of Skilled Open Source Technologists
Bangalore,
India and East Brunswick, New Jersey, USA - September 15, 2014: Wipro Ltd. (NYSE:WIT),
a leading global information technology, consulting and business process
services company today announced it will make significant investments in Open
Source technologies, methodologies and services.
The
rapidly increasing pace of adoption of Open Source software and methodologies
led by advancements in analytics, cloud computing and the emerging Internet of
Things (IoT) have propelled Open Source into a core strategic technology
asset for enterprises across the globe. Wipro has set up an Open Source
Practice under its Business Application Services division to address this
rising demand. This practice will channelize the earmarked investments towards
driving growth and building industry leadership in this area.
This
practice will help our customers build Open Source platforms that enable online
services on a massive scale, big data platforms for batch as well as real-time
streaming data, and integrated management fabrics, at beneficial price
points. In addition, it will focus on Applications (Middleware, Security,
Customer Experience Platforms, Mobile Frameworks), Infrastructure (Operating
systems, Databases, Virtualization, Cloud Technologies, Software Defined
Infrastructure), Internet of Things (IoT), Hardware and Testing. In the
Product Engineering space, reusable/licensable IP blocks will help shrink
product development timelines for the Consumer, Automotive and Networking
market segments.
Wipro's
leadership in Open Source is reinforced by winning the prestigious "Grand
Pillar Trophy" for Innovation in Information Technology - for key
solutions, including the Corporate Treasury Solution which is built on Open
Source, at the Golden Bridge Awards 2014.
"Wipro's
Open Source practice will offer consulting services to companies looking to
adopt Open Source in their IT landscape - from advisory and strategy to roadmap
development, integration, legacy migration, deployment, governance and risk
mitigation and support. The practice will spearhead multiple initiatives to
build solutions, collaborate with key players and foster innovation in the Open
Source domain," said Bhanumurthy BM, Chief Executive,
Application Services & Strategic Alliances, Wipro Limited.
The
practice is building a team of skilled personnel, including world-class open
source industry veterans and community experts. It is also investing in
creating innovation labs to showcase industry solutions, real world
integrations and emerging technologies.
"We
believe we have the strategy and technology depth to become the primary Open
Source partner for global enterprises. We are building a world class team of
technologists for our Open Source Initiative and recently hired an industry
leader, Andrew Aitken, founder of the industry's first strategic consultancy
think-tank on Open Source, and a recognized expert on strategies for its
commercialization," said Krishnakumar N Menon, Vice President,
Business Application Solutions & Open Source Initiative, Wipro Limited.
WIPRO WINS A STRATEGIC TEN YEAR TOTAL OUTSOURCING ENGAGEMENT WITH
ATCO
Bangalore,
India and Edmonton, Canada - July 18, 2014: Wipro Ltd. (NYSE:WIT), a leading
global Information Technology, Consulting and Business Process Services
company, today announced that it has entered into a strategic alliance with
Alberta-based ATCO Ltd., one of Canada's premier corporations. As part of this
alliance, Wipro will provide total outsourcing solutions to ATCO in Canada and
Australia.
Wipro and
ATCO have signed a series of Master Services Agreements under which Wipro will
provide the complete suite of IT services to ATCO. The arrangement is projected
to result in revenues of over CAD 120 million (USD 112 million) to Wipro
annually, for the next ten years, up to December 2024.
“This alliance
ensures ATCO can focus on growing our core businesses of structures and
logistics, utilities, and energy while partnering with Wipro for strategic,
innovative IT solutions required to support our global operations,” said Brian
Bale, Senior Vice-President & Chief Financial
Officer, ATCO. “Wipro’s
deep domain capability and technology-leadership will also ensure we continue
to deliver cost-effective services to our customers.”
Anand
Padmanabhan, Chief Executive - Energy, Natural Resources and Utilities, Wipro
said, “We are
delighted to collaborate with ATCO in this transformational initiative. Our
focus will be to enable
ATCO to enhance their competitiveness by deployment of strategic solutions and efficient delivery of IT
services. We are confident that our domain expertise combined with the enhanced talent pool will
help us support ATCO’s growth. We have traditionally had a strong position in the Utilities space
in Europe and this engagement provides momentum to our business in Canada and
Australia. The alliance with ATCO enhances our capability to create, nurture and tap local talent to
power our growth journey in Canada”.
Wipro’s
IT services delivery model will be further strengthened in North America and
Australia by ATCO I-Tek, a
subsidiary of ATCO with a presence in both these geographies, which will now become a part of Wipro for
an all-cash consideration of CAD 210 million (USD 195 million). ATCO I-Tek has been providing
IT Services to ATCO for the past 15 years.
The
transaction is subject to customary closing conditions.
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 records 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.61.75 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by : |
SUB |
|
|
|
|
Report Prepared by : |
KLS |
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 |
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 |
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.