MIRA INFORM REPORT
|
Report No. : |
331994 |
|
Report Date : |
13.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TATA CONSULTANCY
SERVICES LIMITED |
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|
|
|
Registered
Office : |
9th Floor, Nirmal Building, Nariman Point, Mumbai - 400021,
Maharashtra |
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Tel. No.: |
91-22-67789595 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
19.01.1995 |
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Com. Reg. No.: |
11-084781 |
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Capital
Investment / Paid-up Capital : |
Rs.1958.700 Million |
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CIN No.: [Company Identification
No.] |
L22210MH1995PLC084781 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACR4849R |
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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 Information Technology (IT) and Consultancy Services
including systems, hardware and software, communications and networking,
hardware sizing and capacity planning, software management solutions,
technology education services and business process outsourcing. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (87) |
|
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 |
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Maximum Credit Limit : |
USD 1290000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Tata Group, country’s premier industrial house.
It is a well-established and reputed company having an excellent track
record. Financial position of the company is sound. Fundamentals of the
company are strong and healthy. Share price are quoted high on stock exchange (Face value Rs.1 with
Share price Rs.2471/-) Directors are reported to be well experienced and respectable
businessmen. Trade relations are reported to be trustworthy. Business is active.
Payments are reported to be regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and condition. It can be regarded as a promising business partner in medium to long
run. |
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based
facilities = AAA |
|
Rating Explanation |
Highest degree of
safety and carry lowest credit risk. |
|
Date |
December, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based
facilities = A1+ |
|
Rating Explanation |
Very strong degree
of safety and carry lowest credit risk. |
|
Date |
December, 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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Milvin Kanda |
|
Designation : |
Export Department |
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Contact No.: |
91-22-67322525 |
|
Date : |
15.06.2015 |
LOCATIONS
|
Registered Office : |
9th Floor, Nirmal Building, Nariman Point, Mumbai - 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-67789595 |
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Fax No.: |
91-22-67509333 / 67789660 |
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E-Mail : |
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Website : |
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Corporate Office / Regional Office 1 : |
TCS House, |
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Tel. No.: |
91-22-67789999 |
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Fax No.: |
91-22-67789000 |
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E-Mail : |
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Regional Office 2 : |
Vidyasagar Building, Raheja Township, Near Sai
Baba Mandir, Malad (East), |
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Tel. No.: |
91-22-6779 8585 |
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Fax No.: |
91-22-6779 8546 |
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|
Lead - Talent Acquisition
(Mumbai Office): |
Gateway Park, Akruti Business Port, Ground Floor, Road No. 13 MIDC, Andheri (East), Mumbai - 400 093, Maharashtra, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Cyrus Mistry |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
04.07.1968 |
|
Qualification : |
Graduate degree
in Civil Engineering from Imperial College, UK, M.Sc. in Management from
London Business School. |
|
Date of Appointment : |
02.04.2012 |
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Other Directorship: |
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|
Name : |
N Chandrasekaran |
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Designation : |
CEO and Managing Director |
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Name : |
Mr. Aman Mehta |
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Designation : |
Director |
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Date of Birth/Age : |
01.09.1946 |
|
Qualification : |
Bachelor’s degree in Economics from Delhi University |
|
Date of Appointment : |
06.05.2004 |
|
Directorship held in other Public Companies (excluding foreign
companies) : |
·
Wockhardt Pharmaceuticals Limited ·
Jet Airways Limited ·
Max Healthcare Institute Limited ·
Godrej Consumer ·
Products limited ·
Cairn India limited |
|
|
|
|
Name : |
Mr. V Thyagarajan |
|
Designation : |
Director |
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Date of Birth/Age : |
19.04.1946 |
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Qualification : |
B. Tech [Elec] and M.B.A. from the Indian Institute of Management
Ahmedabad |
|
Date of Appointment : |
05.09.2005 |
|
Other Directorship: |
Glaxo Smithkline Pharmaceuticals Limited |
|
|
|
|
Name : |
Mr. Clayton M Christensen |
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Designation : |
Director |
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Date of Birth/Age : |
06.04.1952 |
|
Qualification : |
B.A.
(Economics), M.Phil. (Economics), MBA and DBA from Harvard Business School |
|
Date of Appointment : |
12.01.2006 |
|
|
|
|
Name : |
Mr. Ron Sommer |
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Designation : |
Director |
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Date of Birth/Age : |
29.07.1949 |
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Qualification : |
Ph .D in mathematics |
|
Date of Appointment : |
05.09.2006 |
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Other Directorship: |
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|
Name : |
Dr. Vijay Kelkar |
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Designation : |
Director |
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|
Name : |
Mr. Ishaat Hussain |
|
Designation : |
Director |
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|
Name : |
Aarthi Subramanian |
|
Designation : |
Executive Director |
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|
Name : |
Mr. Phiroz Vandrevala |
|
Designation : |
Executive Director |
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Name : |
Mr. O P Bhatt |
|
Designation : |
Director |
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Date of Birth/Age : |
07.03.1951 |
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Qualification : |
Graduate degree in Science, Post Graduate degree in English Literature
(Gold Medal). |
|
Date of Appointment : |
02.04.2012 |
|
Other Directorship: |
|
KEY EXECUTIVES
|
Name : |
Mr. Suprakash Mukhopadhyay |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
1445813486 |
73.81 |
|
|
1607624 |
0.08 |
|
|
1607624 |
0.08 |
|
|
1447421110 |
73.90 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
1447421110 |
73.90 |
|
|
|
|
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
17189088 |
0.88 |
|
|
483740 |
0.02 |
|
|
495610 |
0.03 |
|
|
73858592 |
3.77 |
|
|
292590035 |
14.94 |
|
|
39280903 |
2.01 |
|
|
39280903 |
2.01 |
|
|
423897968 |
21.64 |
|
|
|
|
|
|
6848656 |
0.35 |
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs. 0.100
Million |
64520212 |
3.29 |
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 Million |
14053858 |
0.72 |
|
|
1986175 |
0.10 |
|
|
1168608 |
0.06 |
|
|
817539 |
0.04 |
|
|
28 |
0.00 |
|
|
87408901 |
4.46 |
|
Total Public
shareholding (B) |
511306869 |
26.10 |
|
|
|
|
|
Total (A)+(B) |
1958727979 |
100.00 |
|
|
|
|
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(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
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|
|
|
|
Total
(A)+(B)+(C) |
1958727979 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology (IT) and Consultancy
Services including systems, hardware and software, communications and networking,
hardware sizing and capacity planning, software management solutions,
technology education services and business process outsourcing. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs.
In Million)
Note : Obligations under finance lease are secured against fixed assets obtained under finance lease arrangements. |
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Financial Institutes : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Tata Sons Limited |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
420,05,00,000 |
Equity Shares |
Rs.1/- each |
Rs.4200.500 Million |
|
105,02,50,000 |
Redeemable Preference Shares |
Rs.1/- each |
Rs.1050.300 Million |
|
|
Total |
|
Rs.5250.800 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
195,87,27,979 |
Equity Shares |
Rs.1/- each |
Rs.1958.700
Million |
|
|
|
|
|
The Authorised Share Capital was increased to 4200500000 equity shares of Rs. 1 each and 1050250000 redeemable preference shares of Rs. 1 each pursuant to the amalgamation of two wholly-owned subsidiaries, Retail FullServe Limited and Computational Research Laboratories Limited vide Order dated March 22, 2013 and TCS e-Serve Limited vide Order dated September 6, 2013 of the Hon’ble High Court of Judicature at Bombay.
Reconciliation of
number of shares
|
Particulars |
Number of shares |
Amount [Rs. In Million] |
|
Equity
shares |
|
|
|
Opening
balance |
195,87,27,979 |
1958.700 |
|
Issued
during the year |
- |
- |
|
Closing
balance |
- |
- |
|
Preference
shares |
|
|
|
Opening
balance |
- |
- |
|
Redeemed
during the year |
- |
- |
|
Closing
balance |
- |
- |
Rights, preferences
and restrictions attached to shares
Equity shares
The Company has one class of equity shares having a par value of Rs.1 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Preference shares
Preference shares carried a fixed cumulative dividend of 1% per annum and a variable non-cumulative dividend of 1% of the difference between the rate of dividend declared during the year on the equity shares of the Company and the average rate of dividend declared on the equity shares of the Company for three years preceding the year of issue of the redeemable preference shares.
Shares held by
Holding company, its Subsidiaries and Associates
(Rs. In Million)
|
Equity shares |
31.03.2015 |
|
Holding company |
|
|
144,34,51,698 equity shares (March 31, 2014 :
144,34,51,698 equity shares) are held by Tata Sons Limited |
1443.500 |
|
Subsidiaries and
Associates of Holding company |
|
|
10,29,700 equity shares (March 31, 2014 : 10,29,700 equity shares) are held by Tata Industries Limited |
1.000 |
|
5,90,452 equity shares (March 31, 2014 : 5,90,452 equity shares) are held by Tata Investment Corporation Limited |
0.600 |
|
200 equity shares (March 31, 2014 : 200 equity shares) are held by Tata Capital Limited * |
--- |
|
83,232 equity shares (March 31, 2014 : 83,232 equity shares) are held by Tata International Limited |
0.100 |
|
24,400 equity shares (March 31, 2014 : 24,400 equity shares) are held by Tata Steel Limited * |
--- |
|
452 equity shares (March 31, 2014 : 452 equity shares) are held by The Tata Power Company Limited * |
--- |
|
Total |
1445.200 |
* Equity shares having value less than ` 50,000
Details of shares
held by shareholders holding more than 5% of the aggregate shares in the
Company
|
Equity shares |
|
|
Tata Sons Limited, the Holding company |
1443451698 |
|
|
73.69% |
Equity shares
allotted as fully paid up (during 5 years preceding March 31, 2015) including
equity shares issued pursuant to contract without payment being received in
cash
15,06,983 equity shares of Rs. 1 each have been issued to the shareholders of TCS e-Serve Limited in terms of the composite scheme of arrangement (“the Scheme”) sanctioned by the High Court of Judicature at Bombay vide their order dated September 6, 2013.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1958.700 |
1958.700 |
2957.200 |
|
(b) Reserves &
Surplus |
452205.700 |
438560.100 |
322665.300 |
|
(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) |
454164.400 |
440518.800 |
325622.500 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
647.100 |
896.900 |
831.000 |
|
(b) Deferred tax
liabilities (Net) |
2714.600 |
2268.700 |
1684.900 |
|
(c) Other long term
liabilities |
7221.500 |
6904.400 |
2518.700 |
|
(d) long-term provisions |
1269.100 |
2796.100 |
2695.200 |
|
Total Non-current
Liabilities (3) |
11852.300 |
12866.100 |
7729.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1855.600 |
0.000 |
800.200 |
|
(b) Trade payables |
67672.500 |
39775.500 |
33499.400 |
|
(c) Other current
liabilities |
24914.700 |
24603.200 |
21727.100 |
|
(d) Short-term provisions |
70193.500 |
58278.300 |
38961.400 |
|
Total Current Liabilities
(4) |
164636.300 |
122657.000 |
94988.100 |
|
|
|
|
|
|
TOTAL |
630653.000 |
576041.900 |
428340.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
79648.800 |
58870.900 |
50594.800 |
|
(ii) Intangible Assets |
314.100 |
421.000 |
448.000 |
|
(iii) Capital
work-in-progress |
27069.400 |
30475.300 |
17638.500 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
26512.300 |
50985.500 |
59757.300 |
|
(c) Deferred tax assets
(net) |
3034.700 |
2735.800 |
1482.300 |
|
(d) Long-term Loan and Advances |
84525.500 |
68755.400 |
46302.100 |
|
(e) Other Non-current
assets |
5246.800 |
15449.900 |
18812.000 |
|
Total Non-Current Assets |
226351.600 |
227693.800 |
195035.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
7474.700 |
7338.700 |
3486.500 |
|
(b) Inventories |
123.400 |
85.700 |
63.400 |
|
(c) Unbilled Revenue |
24393.600 |
26260.800 |
23033.500 |
|
(d) Trade receivables |
170367.600 |
144718.900 |
112023.200 |
|
(e) Cash and cash
equivalents |
165025.000 |
125662.600 |
40541.600 |
|
(f) Short-term loans and
advances |
33521.800 |
36881.200 |
47333.800 |
|
(g) Other current assets |
3395.300 |
7400.200 |
6823.400 |
|
Total Current Assets |
404301.400 |
348348.100 |
233305.400 |
|
|
|
|
|
|
TOTAL |
630653.000 |
576041.900 |
428340.400 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
735780.600 |
646729.300 |
484261.400 |
|
|
Other Income |
44667.300 |
31147.100 |
22303.900 |
|
|
TOTAL (A) |
780447.900 |
677876.400 |
506565.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Exceptional Items |
(5283.800) |
0.000 |
0.000 |
|
|
Employees benefits
expense |
273683.200 |
214665.600 |
170817.200 |
|
|
Operation and Other
expenses |
251815.400 |
216726.500 |
170381.500 |
|
|
TOTAL (B) |
520214.800 |
431392.100 |
341198.700 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
260233.100 |
246484.300 |
165366.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
795.700 |
234.100 |
306.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
259437.400 |
246250.200 |
165060.400 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13937.700 |
10805.500 |
8028.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
245499.700 |
235444.700 |
157031.800 |
|
|
|
|
|
|
|
Less |
TAX (H) |
52930.100 |
50695.500 |
29168.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
192569.600 |
184749.200 |
127863.400 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
364204.500 |
246028.500 |
182352.000 |
|
|
|
|
|
|
|
Add |
Adjustment for
amalgamation of acquired subsidiaries |
717.800 |
23752.200 |
-1030.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim dividends on
equity shares (excluding tax) |
107729.200 |
23498.700 |
17614.900 |
|
|
Proposed dividend on
equity shares (excluding tax) |
47009.500 |
39174.600 |
25443.900 |
|
|
Dividend on redeemable
preference shares (excluding tax) |
0.000 |
287.600 |
190.000 |
|
|
Tax on dividends (interim
and proposed) |
25915.400 |
7889.600 |
7121.800 |
|
|
Write back of tax on dividends of prior year |
(209.700) |
0.000 |
0.000 |
|
|
Capital redemption
reserve |
0.000 |
1000.000 |
0.000 |
|
|
General reserve |
19256.900 |
18474.900 |
12786.300 |
|
|
Statutory reserve |
0.000 |
0.000 |
0.000 |
|
|
Total |
199701.300 |
90325.400 |
63156.900 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
357790.600 |
364204.500 |
246028.500 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Consultancy services |
702111.200 |
603738.100 |
447212.200 |
|
|
FOB value of exports of
equipment and licenses |
4695.800 |
2611.500 |
1300.200 |
|
|
Interest income |
54.100 |
67.600 |
104.600 |
|
|
Dividend income |
10902.900 |
15823.800 |
10490.500 |
|
|
Other income (net) |
419.200 |
367.400 |
318.100 |
|
|
TOTAL EARNINGS |
718183.200 |
622608.400 |
459425.600 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials,
sub-assemblies and components |
473.700 |
329.600 |
203.500 |
|
|
Capital goods |
5232.100 |
5896.000 |
3524.200 |
|
|
Stores and spare parts |
0.300 |
0.000 |
0.100 |
|
|
TOTAL IMPORTS |
5706.100 |
6225.600 |
3727.800 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
98.31 |
94.15 |
65.22 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
4.700 |
4.700 |
12.400 |
|
Cash generated from operations |
226404.600 |
190373.500 |
127951.100 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
26.17 |
28.57 |
26.40 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
35.37 |
38.11 |
34.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
42.77 |
47.87 |
44.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.54 |
0.53 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.46 |
2.84 |
2.46 |
STOCK
PRICES
|
Face Value |
Rs.1/- |
|
Market Value |
Rs.2471/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
2957.200 |
1958.700 |
1958.700 |
|
Reserves & Surplus |
322665.300 |
438560.100 |
452205.700 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
325622.500 |
440518.800 |
454164.400 |
|
|
|
|
|
|
long-term borrowings |
831.000 |
896.900 |
647.100 |
|
Short term borrowings |
800.200 |
0.000 |
1855.600 |
|
Current Maturities of
Long Term Debt |
12.400 |
4.700 |
4.700 |
|
Total borrowings |
1643.600 |
901.600 |
2507.400 |
|
Debt/Equity ratio |
0.005 |
0.002 |
0.006 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
484261.400 |
646729.300 |
735780.600 |
|
|
|
33.550 |
13.769 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
484261.400 |
646729.300 |
735780.600 |
|
Profit |
127863.400 |
184749.200 |
192569.600 |
|
|
26.40% |
28.57% |
26.17% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
|
(Rs. In Million) |
|
|
LONG TERM
BORROWING |
|
|
|
Borrowings from entity other than banks |
5.800 |
10.500 |
|
SHORT TERM
BORROWING |
|
|
|
Overdraft from bank |
1855.600 |
0.000 |
|
Total |
1861.400 |
10.500 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90160634 |
30/08/2004 |
10,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNT GROUP BRANCH, VOLTAS HOUSE;J N |
- |
|
2 |
90160638 |
08/04/2004 |
3,000,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CO.LTD. |
52/60; MAHATMA GANDHI ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
|
3 |
90214082 |
08/04/2004 |
3,000,000,000.00 |
THE HONG KONG AND SHANGHAI BANKING CORP. LTD.; |
MAHATMA GANDHI ROAD, FORT, MUMBAI - |
- |
|
4 |
90160637 |
02/05/2003 |
3,500,000,000.00 |
STANDERD CHARTERED BANK |
23;25; M.G. ROAD, FORT, MUMBAI - 400 |
- |
|
5 |
90213963 |
15/03/2010 * |
4,200,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD,, FORT, MUMBAI, MAHARASHTRA - 40000 |
A85014686 |
|
6 |
90214923 |
16/04/2012 * |
20,000,000,000.00 |
STATE BANK OF INDIA |
NEVILLE HOUSE, 3RD FLOOR,, J. N. HEREDIA MARG, BA |
B39026745 |
|
7 |
90198239 |
27/01/2003 |
5,000,000.00 |
STANDARAD CHARTERED BANK |
NO. 14; GENEVA HOUSE, CHINIGHAM ROAD, BANGALORE, |
- |
|
8 |
90199603 |
27/01/2003 |
50,000,000.00 |
STANDERD CHARTED BANK |
NO.14; GNEVA HOUSE, CUNNINGHAM ROAD, BANGALORE, K |
- |
|
9 |
90213917 |
15/01/2003 |
2,800,000,000.00 |
ABN AMRO BANK |
14; VER NARIMAN ROAD, MUMBAI, MAHARASHTRA - 400023 |
- |
|
10 |
90160636 |
04/02/2009 * |
2,300,000,000.00 |
ABN AMRO BANK |
HANSALAYA BUILDING, 15 BARAKHAMBA ROAD, NEW DELHI |
A57408304 |
* Date of charge modification
|
Particular |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
Claims against the Company not acknowledged as debts |
407.200 |
295.700 |
|
Income Tax demands |
39018.200 |
38902.000 |
|
Indirect Tax demands |
610.100 |
632.700 |
|
Guarantees given by the Company on behalf of subsidiaries |
33109.500 |
40823.100 |
|
a) In respect of income tax demands of Rs. 3182.000 Million (March 31, 2014: Rs. 3182.000 Million), not included above, the Company is entitled to an indemnification from the seller of TCS e-Serve Limited. b) In respect of indirect tax demands of Rs. 85.300 Million (March 31, 2014: Rs. 85.300 Million), not included above, the Company is entitled to an indemnification from the seller of TCS e-Serve Limited. c) The Group has provided guarantees aggregating Rs. Nil (GBP Nil) (March 31, 2014: 4777.500 Million) (GBP 47.85 million) to third parties on behalf of its subsidiary Diligenta Limited. The Group does not expect any outflow of resources in respect of the above. d) The Group has examined the social security and tax aspects of contracts with legal entities which provide services to overseas subsidiaries and, based on legal opinion, concludes that the subsidiaries are in compliance with the related statutory requirements. |
||
CORPORATE INFORMATION
Tata Consultancy Services Limited (“the Company”) and its subsidiaries (collectively referred to as “the Group”) provide consulting-led integrated portfolio of information technology (IT) and IT-enabled services delivered through a network of multiple locations around the globe. The Group’s full services portfolio consists of IT and Assurance Services, Business Intelligence and Performance Management, Business Process Services, Cloud Services, Connected Marketing Solutions, Consulting, Eco-sustainability Services, Engineering and Industrial Services, Enterprise Security and Risk Management, Enterprise Solutions, iON -Small and Medium Businesses, IT Infrastructure Services, Mobility Products and Services and Platform Solutions.
As at March 31, 2015, Tata Sons Limited owned 73.69 % of the Company’s equity share capital and has the ability to control its operating and financial policies. The Company’s registered office is in Mumbai and it has 60 subsidiaries across the globe.
COMPANY’S PERFORMANCE
On unconsolidated basis, revenue from operations for the financial year 2014-15 at Rs. 735780.600 Million, was higher by 13.77% over last year (Rs. 646729.300 Million in 2013-14). Earnings before interest, tax, depreciation and amortisation (EBITDA) was Rs. 233546.200 Million excluding the one-time employee reward registering a growth of 8.46% over the EBITDA of Rs. 215337.200 Million in 2013-14. The reported EBITDA aggregated Rs. 210282.000 Million.
Profit after tax (PAT) for the year was Rs. 210914.300 Million excluding the said one-time adjustment stated above recording a growth of 14.16% over the PAT of Rs. 184749.200 Million in 2013-14. The reported PAT aggregated Rs. 192569.600 Million.
MANAGEMENT DISCUSSION
AND ANALYSIS
A MACRO-VIEW
The global economy belied initial optimism and continued to remain patchy in 2014. While the global output increased by 3.3%, lower than initial expectations, emerging and developing economies performed better (4.4%) than developed economies (1.8%). GDP growth among developed economies which are also the largest markets for IT Services was very uneven with the US (2.2%) and UK (3.2%) performing better than the Euro region (0.8%) and Japan (0.9%).
Businesses are adapting, reshaping their strategies and increasingly using technology to establish a stronger customer-connect, create competitive differentiation and address new opportunities, though it is taking longer than expected, for economies to regain their stride.
In particular, the adoption of the digital five forces namely mobility, cloud, big data analytics, social media and artificial intelligence continues apace resulting in reimagined business models, business processes, systems and workplaces, disrupting the old ways of doing business in multiple industries and opening up entirely new, often unconventional, revenue sources for those who have imaginatively leveraged these forces.
OVERVIEW OF INDUSTRY
The global market for outsourced IT services is estimated to have grown by 1.9% in 2014 (3.3% in constant currency), with strong growth in key markets like the US (4.1%) and UK (8.6%), driven by increased spending on digital technologies and continued quest for efficiency in IT operations.
In fiscal 2015, in line with previous years, TCS significantly outperformed the industry, growing at 15% (in USD terms) in comparison to the market growth of 1.9%, evidencing the fact that the Company continues to gain market share. The Company’s share of the global market for outsourced IT services is estimated to be 1.6%, offering plenty of head room for continued growth.
TALENT ACQUISITION
The recruitment strategy of TCS helps create a workforce with diverse culture and thinking across all levels which in turn brings in a competitive advantage for the Company.
In FY 15, the Company has hired and integrated 67,123 people into its workforce across the globe, out of which 51,527 were in India and the remaining 15,596 were outside India. TCS continues to remain preferred employer at the engineering campuses in India and has made 35,753 offers to engineering trainees and 632 offers to management trainees for joining in FY16. Outside India, offers were made at established institutes across geographies.
The need for going digital and gamification is essential to remain relevant to the need of GenY – the future workforce. Campus Commune – the Company’s social networking platform for campuses - has become extremely popular in the educational institutions. There are 600,000+ registered users from 1,500+ institutes connecting, collaborating and learning. This extremely vibrant platform has multiple forums and competitions. The CodeVita contest had over 49,000+ teams from 19 countries registered and the winners were from UK, India and Peru.
TCS invests on academic interface programme (AIP) initiatives for improving employability of students, developing faculty for academic institutes, and developing curricula as per industry requirements. In FY 15, a total of 612 institutes in India and 261 institutes abroad benefitted through the Company’s AIP activities like workshops for students, faculty development programs etc. TCS research scholarship programme supports 188 research scholars pursuing their PhD in 33 premier institutes across India.
The Company’s annual event, ‘Sangam’ was held at Bangalore with academic experts participating from India and abroad.
A 3-year full-time Bachelor of Commerce degree with specialisation in business process services (BPS), has been rolled out with over 400 students enrolled in 10 colleges under a reputed university. The BPS curriculum was designed by TCS.
AWARDS
BUSINESS LEADERSHIP
- Forbes: World's 100 Most Innovative Companies
- Brand Finance: Fastest growing IT industry brand over the last five years
- Achieves Superbrands status in the UK
- The Economic Times: Company of the Year
- Gold Stevie: Best Human Resources Department 2014
- Top Employers Institute: Certified as Top Employer North America 2015
- Whitelane Research Europe Survey: Ranked #1 on performance & customer satisfaction
- Business Standard: Best Company of 40 years
- Top Employers Institute: Ranked # 1 Employer in Europe
- Top Employers Institute: Ranked # 1 Employer in UK
- Golden Peacock National Training Award 2014
- Six awards at Asia's Best Employer
- Brand Awards 2014, Singapore
- Diversity and Inclusion (DANDI) awards: Top Workforce honour
- TCS BaNCS won Global Custodian award for Best Custody second time in a row
- NASSCOM 2014 Awards: Excellence in Gender Inclusivity & Best IT Services and Product Company
- NASSCOM Silver Jubilee Awards: Leading IT Company for 25 years
- National Award for e-Governance (Gold Award): Passport Seva for Outstanding Performance in Citizencentric Service Delivery
- World HRD Congress RASBIC awards: Best Overall Recruiting & Staffing Organization & Best Use of Technology for Recruiting
SUSTAINABILITY
- Gold Stevie: Corporate Social Responsibility Program
- JSW-Times of India: Earth Care Award
- Lumity Community Corps Corporate Champion: Enhancing quality of STEM Education
- Dow Jones Sustainability World Index: Ranked Global Leader
- Asian Sustainability Ranking: Ranked #1 of Top 100 Companies
- The CDP Climate Performance Leadership Index: A-List world leader in corporate action on climate change
LEADERSHIP
N Chandrasekaran:
- CNN-IBN: Indian of the Year (Business)
- Finance Asia's Best Companies Poll: India's Best CEO
- Institutional Investor's 2014 All-Asia
- Executive Team Rankings: Best CEO
- Business Today: Best CEO
- CNBC TV 18: Voted one of India's Top 15 business icons
PARTNER
- Informatica: Innovation Award for Test Data Management
- SAP: Run SAP Partner of the Year & Customers’ Choice Award (SAP Pinnacle)
- Renault-Nissan: Best Service Support 2014 Award
- NXP Semiconductors: Best Supplier for Indirect Services
- TESTA 2014: Leading Vendor Award for Quality Assurance (QA) and Testing services
- JD Edwards: Partner Excellence award
CA Technologies:
- Country Partner of the Year
- Partner of the Year - Security solutions
- Public Sector Partner of the Year
Oracle Excellence
Awards
- Global System Integrator Customer Experience (CX) Applications Spec
- Specialised Partner of the Year
AMALGAMATION OF
COMPANIES
WTI Advanced
Technology Limited
a) Nature of business
WTI Advanced Technology Limited is engaged in the business of Information Technology (IT) and Information Technology Engineering Services (ITES). The Company holds 100.00% of the voting power of WTI Advanced Technology Limited.
b) WTI Advanced Technology Limited has been amalgamated with the Company with effect from April 1, 2014 (“the appointed date”) in terms of the scheme of amalgamation (Scheme) sanctioned by the High Court of Judicature at Bombay vide their Order dated March 27, 2015. Pursuant thereto all assets, unbilled revenue, debts, outstandings, credits, liabilities, benefits under income tax, service tax, excise, value added tax, sales tax (including deferment of sales tax), benefits for and under Software Technology Parks of India (STPI), duties and obligations of WTI Advanced Technology Limited, have been transferred to and vested in the Company retrospectively with effect from April 1, 2014.
Since WTI Advanced Technology Limited, amalgamated as aforesaid, was wholly owned by the Company, no shares were exchanged to effect the amalgamation.
c) The amalgamation has been accounted for under the ‘pooling of interests’ method as prescribed by Accounting Standard 14 specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014. Accordingly, the assets, liabilities and reserves of WTI Advanced Technology Limited as at April 1, 2014 have been taken over at their book values and in the same form.
The difference between the amounts recorded as investments of the Company and the amount of Share Capital of WTI Advanced Technology Limited has been adjusted in the General Reserve.
FIXED ASSETS
- Freehold Land
- Leasehold Land
- Freehold Buildings
- Factory Buildings
- Leasehold Buildings
- Plant and Machineries
- Computer Equipments
- Vehicles
- Office Equipment
- Electrical Installations
- Furniture and fixtures
AUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED ON 30TH JUNE, 2015
(Rs.
In Million)
|
|
|
Particulars |
Quarter
ended 30.06.2015 |
|
1 |
Income from Operations |
|
|
|
|
a) Information Technology and consultancy services |
196586.700 |
|
|
|
b) sale of equipment and software license (net of excises) |
4151.100 |
|
|
|
Total Income from Operations (Net) |
200737.800 |
|
|
2 |
Expenses |
|
|
|
|
a) |
Employee benefit expenses |
70023.200 |
|
|
b) |
Overseas Business expenses |
31875.400 |
|
|
c) |
Services rendered by business associates and others |
14061.200 |
|
|
d) |
Depreciation and amortization expense |
3611.600 |
|
|
e) |
Other
expenses |
20471.200 |
|
|
Total Expenses |
140042.600 |
|
|
3 |
|
Profit
/(Loss) from operations before other income, finance costs and exceptional
items (1-2) |
60695.200 |
|
4 |
Other
Income |
8936.400 |
|
|
5 |
|
Profit /(Loss)
from ordinary activities before finance costs and exceptional items (3+4) |
69631.600 |
|
6 |
Finance
Costs |
10.800 |
|
|
7 |
|
Profit
/(Loss) from ordinary activities after finance costs but before exceptional
items (5-6) |
69620.800 |
|
8 |
Exceptional
Items |
0.000 |
|
|
9 |
Profit /(Loss) from ordinary activities
before tax |
69620.800 |
|
|
10 |
Tax
Expense |
14731.100 |
|
|
11 |
Net Profit /(Loss) from ordinary activities
after tax (9-10) |
54889.700 |
|
|
12 |
Extraordinary
items (net of tax expense) |
-- |
|
|
13 |
Net Profit /(Loss) for the period (11-12) |
54889.700 |
|
|
14 |
Paid up
equity share capital (Eq. shares of
Rs.10/- each) |
-- |
|
|
15 |
Reserve
excluding revaluation reserves |
--- |
|
|
16 |
|
Earnings per
share (before/after extraordinary items) |
|
|
|
|
Basic |
28.02 |
|
|
|
Diluted |
28.02 |
Note :
1. a. Subsidiaries (held directly):
CMC Limited, Tata Consultancy Services Sverige AB, Tata Consultancy Services Asia Pacific Pte Limited, TCS Iberoamerica SA, Tata Consultancy Services Netherlands BV, TCS FNS Pty Limited, APOnline Limited, Tata America International Corporation, Tata Consultancy Services Belgium S.A., Tata Consultancy Services Deutschland GmbH, Tata Consultancy Services Canada inc., Diligenta Limited, C-Edge Technologies Limited, MP Online Limited, Tata Consultancy Services (Africa) (PTY) Limited, MahaOnline Limited, Tata Consultancy Services Qatar S.S.C., TCS e-Serve International Limited, TCS Foundation (w.e.f March 13, 2015).
b. Subsidiaries (held indirectly)
CMC Americas Inc., CMC eBiz Inc., Tata Consultancy Services Japan, Limited, Tata Consultancy Services Malaysia Sdn Bhd, Tata Consultancy Services (China) Co., Limited, PT Tata Consultancy Services Indonesia, Tata Consultancy Services (Thailand) Limited, Tata Consultancy Services (Philippines) Inc., TCS Solution Center S.A., Tata Consultancy Services Argentina S.A., Tata Consultancy Services De Mexico S.A., De C.V., TCS Inversiones Chile Limitada, Tata Consultancy Services Do Brasil Ltda, Tata Consultancy Services Chile S.A., Tata Solution Centre S.A., TCS Uruguay S.A., MGDC S.C., Tata Consultancy Services Luxembourg S.A., Tata Consultancy Services Switzerland Limited, Tata Consultancy Services France S.A.S., TCS Italia SRL, Tata Consultancy Services De Espana S.A., Tata Consultancy Services Portugal Unipessoal Limitada, Tata Consultancy Services Osterreich GmbH, Tata Consultancy Services Danmark ApS, TCS Financial Solutions Australia Holdings Pty Limited, TCS Financial Solutions Australia Pty Limited, PT Financial Network Services, TCS Financial Solutions Beijing Company Limited, MS CJV Investments Corporation, Diiigenta 2 Limited, Tata Consultancy Services (South Africa) (PTY) Limited, TCS e-Serve America, Inc., Alti S.A., Planaxis Technologies Inc., Alt! HR S.A.S., Alti Infrastructures Systemes & Reseaux S.A.S., Alti NV, Tescom (France) Software Systems Testing S.A.R.L., Alti Switzerland S.A., Teamlink.
2. Income from operations of subsidiaries of Rs. 39435.300 Million for the quarter ended June 30, 2015 have not been audited.
3. The Board of Directors at its meeting held on July 09, 2015, has declared an Interim dividend of Rs. 5.50 per equity share.
4. Previous period/years' figures have been regrouped, wherever necessary.
WEBSITE DETAILS:
PRESS RELEASE:
TCS LAUNCHES PRODUCT
FOR AMERICAN BANKS
Jun 09, 2015
The country's largest software exporter TCS on Tuesday launched a product to cater specifically for American retail banks to help them get more digital. TCS' BaNCS Digital is designed for financial institutions in North America and will allow for integration of various stakeholders in the financial supply chain and its ecosystem, the Tata group company, which gets bulk of its revenue from the continent, said in a statement.
The company said the world of retail banking is changing constantly and they are increasingly facing competition from non-banks who are becoming the front-end or an originator of many financial transactions.
Banks, however, possess a huge amount of information on their customers and their financial behaviours which can be leveraged through digital channels to deliver simple, insightful and pure banking services, TCS said.
"TCS BaNCS Digital is an outcome of extensive research on the convenience-cum-mobility needs of both consumers and enterprise users," N Ganapathy Subramaniam, president of strategic business unit TCS Financial Solutions said.
TCS,
INFOSYS VISA ISSUE: GOVT TO INTERVENE WHEN REQUIRED
June
15, 2015
With the US probing TCS and Infosys for alleged visa rule
violations, Communications and IT Minister Ravi Shankar Prasad said the
government will intervene if the need arises.
With the US probing TCS and Infosys for alleged visa
rule violations, Communications and IT Minister Ravi Shankar Prasad said the
government will intervene if the need arises.
"I am sure these two companies will be able to
address this issue properly, they are very reputed companies and
the government fully appreciates the good work they have done
over the years. If the visa issue ultimately requires certain
other considerations...at government level, we will consider
that," Prasad told PTI.
According to the US media reports, the Labour
Department has opened an investigation against Tata Consultancy
Services and Infosys for "possible violations of rules for visas
for foreign technology workers under contracts they held with
an electric utility Southern California Edison".
Denying any wrongdoing, the two software giants have
said they are "fully compliant" with the immigration
rules. Often used by the IT firms, H-1B visa is a non-immigrant visa
that allows the US employers to temporarily employ foreign workers in
speciality occupations.
Infosys, in the past, has faced visa-related issues
when one of its former employees, Jack Palmer filed a whistle-blower
lawsuit, saying he had been punished and sidelined by company executives
after he reported of witnessing widespread visa fraud. Industry body
Nasscom said attempts were being made to portray the Indian IT sector
negatively without paying attention to "facts and logic".
Nasscom President R Chandrashekhar said its
members continue to cooperate with the US authorities in respect
of any requests for information. The US is the largest market for the
over USD 140 billion Indian IT services industry. Exports account for over
USD 98 billion.
TCS
stock price
On June 17, 2015,
Tata Consultancy Services was quoting at Rs 2513.70, up Rs
2.65, or 0.11 percent. The 52-week high of the share was Rs 2834.00 and the
52-week low was Rs 2211.00.
The company's trailing 12-month (TTM) EPS was at Rs 98.31 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 25.57. The latest book value of the company is Rs 231.87 per share. At current value, the price-to-book value of the company is 10.84.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILITY |
1~10 |
10 |
|
--LIQUIDITY |
1~10 |
10 |
|
--LEVERAGE |
1~10 |
10 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
87 |
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.