IMaCS Profile

A Business Profile

2012

IMaCS

ICRA Management Consulting Services Limited

IMaCS - A business profile© IMaCS 2012

Printed 12-Mar-12Page 2

About this document

This document provides a business profile and capabilities of IMaCS

IMaCS (ICRA Management Consulting Services Limited) is a wholly-owned subsidiary of

ICRA Limited (referred to as ICRA in this document)

The information provided in this document is subject to change without notice



Shareholders of ICRA LimitedMoody’s, Banks, FIs, Public, Employees

Introduction to Group ICRA: Group ICRA comprises four businesses – (1) Credit rating, (2) Management consulting, (3) Information Technology and (4) Outsourcing



About IMaCS

IMaCS is a management & development consulting firm headquartered in India

Ten offices: India (9), New York (subsidiary); long term associates in Manila, Tanzania,

The Netherlands, Sri Lanka, Singapore, Indonesia

An operating footprint across 40 countries

Completed over 1500 projects with ~700 clients over the past 17 years

Operated as a division of ICRA Ltd. till March 31, 2005 when we were demerged

Clients - Governments, multilateral agencies, regulators, banks, corporates, investors

Three lines of service: (1) Consulting (2) Analytics (3) Transaction Advisory

Expertise in Policy Advisory, Diagnostic Studies, Strategy, Risk Analytics, PPP,

Corporate Finance, and Capacity Building



IMaCS is organised under five business groups

IMaCS- Business Groups -

InfrastructureBanking &Finance Energy Corporate

Government/ Multi-lateral

agencies

• Banks• Financial Institutions• Financial Services Cos.• Asset Management• Insurance• Private equity• Micro-finance• Financial Exchanges

• Roads & Highways• Railways • Ports & Shipping• Airports & Air services• Special Economic Zones• Urban Transport • Municipal Finance• Water & Sanitation

• Electricity• Generation• Transmission• Distribution

• Coal• Gas & Pipelines• Renewables• Carbon strategy

• Automotive & Engineering• Metals, Mining & Chemicals• Retailing & Consumer Goods• Healthcare & Life Sciences• Tourism & Hospitality• Media & Entertainment• Technology & Telecom• SME

• Central Govt.• State / Federal• Local Govt• Municipalities• Multilaterals• Regulators

Board of Directors

Mr. D.N. Ghosh, Chairman Mr. P.K. Choudhury Mr. P.S. Shenoy Mr. D.P. Roy Mr. C.M. Vasudev Mr. R.R. Rao, Managing Director

• 17 year operating history• Completed over 1500 engagements • Over 700 clients • Worked in over 40 countries• Research across 140 industries• 100 full time professionals

Key Statistics



IMaCS’ services can be grouped under three themes

IMaCS(Range of Services)

Consulting Research & Analytics

Transaction Advisory

• Strategy consulting• Process consulting• Risk management• Quantitative

modelling• Economic regulation• Public policy

• Market intelligence• Customised research• Risk analytics/software• Quantitative Analytics• Industry/Sector research• Macroeconomic research• Index development

• M&A• Due diligence • Valuation• Project advisory• Financial restructuring• Public Private Partnership• Bid / Financial advisory



Denotes either projects done or clients located in a country

IMaCS has an international footprint – we have on-the-ground consulting experience in over 40 countries



Strategy

Risk

Enhancing Competitiveness / Market Assessment / Improving effectiveness /Market Intelligence / Strategy formulation

Credit Risk / Market Risk/ Operational Risk / EWRM/ Risk Analytics/ Software

TransactionAdvisory

M&A / Due diligence / Project Advisory / Bid advisory / Financial restructuring

Policy & Regulation Regulatory Economics / PPP Models/ Governance

ProcessConsulting

Cost reduction / Process re-engineering / Organisation design

IMaCS focuses on six practice areas

DevelopmentConsulting

Investment Institutional Capacity Poverty Sustainable Climate Strengthening Building Alleviation Development

1

2

3

4

5

6

Service offerings



Range of consulting services…1Strategy Practice

Market assessment studies (environment scanning, demand modelling, macro-economic studies,

benchmarking, consumer behaviour studies, and market intelligence)

Strategy formulation (Growth, Diversification and Entry strategies )

Enhancing shareholder value (strategies for improving competitiveness, increasing profits, cost

reduction, and value enhancement)

International trade and competitiveness (related to WTO, FTAs, & RTAs)

Strategy is about (a) Growth; and (b) enhancing competitiveness.Our offerings are...

Strategy1



Select clients in our Strategy Practice…A

• Volvo• Tata Motors• Hyundai Motors• M&M• Maruti Suzuki Limited• Cummins India• NATRIP• Sumitomo• Apollo Tyres• Sundram Fasteners• Rane Madras• Roots• Dunlop• Amco Batteries

Automotive

• Larsen & Toubro• BHEL• Biecco Lawrie• Caterpillar-TIL• IDIADA, Spain• Mazagon Docks• Philips• Andrew Yule• Mitsubishi• Hindustan Dorr• Phoenix Yule• Doosan Industries• Tata Projects• NALCO

Engineering

• Hindustan Unilever• Parry Confectionery• ITC• Perfunova• Kaventer Agro• MAFCO• Heritage• Indo Nippon• Radico Khaitan• Liberty Shoes• ICI• Hindustan Foods• Action Shoes

Consumer Goods

Strategy1



Clients in our Strategy Practice…B

Govt. of Uttaranchal

UTV Limited MTNL PhilipsHutchison

Indian Hotels (Taj group)

East India Hotels (Oberoi) Jet Airways

Sample clients across various industries - Telecom / Government / Tourism

Planning Commission

Comptroller & Auditor General

of India

Ministry of Commerce

Disinvestment Commission

Strategy1



Clients in our Strategy practice…C

Sundaram Finance

Sample clients in the Banking and Infrastructure sectors

Bank of Nova Scotia IFC Bank of

Seychelles

India Infra Finance Ltd

World Bank

Banpu Thailand Kribhco Powergrid Corporation

Cal Bank, Ghana IDBI Oriental Bank of Commerce

Strategy1



Range of consulting services…2Risk Management

Risk management processes & systems as per the Basel II Accord - Credit risk, Market & Operational Risk

Enterprise-wide risk management (for manufacturing, financial & service companies)

Strategies for mitigating risk (restructuring portfolios, derivatives, securitisation, contract structuring)

Risk modelling for all situations – e.g. investment / credit portfolios, large projects, complex instruments

Counter-party risk assessment systems (for managing debtors/trading positions)

World class software for risk management and credit management in banks /financial institutions

Training for risk management - banks, financial service organisations, and fund managers

The essence of Risk management is to manage uncertainty withsound policies, processes, tools, and systems. We provide a full service

Our clientele is across all sectors - Banking, Infrastructure, Manufacturingand services. Our offerings are:

Risk2



Clients in our Risk Management practice…A

UNB, Abu Dhabi

Sample clients in the Banking / Financial sector

IDBI Clearing

Corporation of India

Bank of India

HDFC

State Bankof India

YES Bank HUDCO National Housing Bank

EXIM Bank of India

The Future Group ING Barings

Risk2



Clients in our Risk Management Practice…B

GMR Group

Sample clients in the Infrastructure Sector

Tata Power RPG Group Reliance Energy

PowerGen

A.P. Transco

Eastern Generation

Gujarat Maritime Board

Commonwealth Development Corporation

IRFC Ennore Port International Sea Ports

Risk2



Clients in our Risk Management Practice…C

Sample clients in the Manufacturing / Service sector

Oil IndiaRashtriya

Chemical & Fertilisers

NALCO

HindustanAeronautics

Indian Oil

Sesa Goa Gujarat Narmada Fertilisers BHEL

ICI IFFCO TVS ElectronicsMitsubishi

Risk2



Range of Consulting Services…3Process Consulting

Cost reduction

Business Process Re-engineering

Organisation and process design

Supply chain management

Customer relationship management

Information & systems design

We focus on improving process and organisational efficiency of our clients in a wide variety of settings and across functions

Our clientele is across all sectors - Banking, Infrastructure, Manufacturingand services. Our offerings are:

Process Consulting3



Select Clients in our Process Consulting Practice

Sample clients across various industries

East India Hotels Mersey (Hongkong)

Karnataka Industries Area

Dev. Board

MTNL

Hindustan Unilever

Peerless Hotels Mitsubishi Industries

Zoom Developers

TataMotors

Peerless General Finance Canara BankABT Industries

Process Consulting3



Range of Consulting Services 4…Transaction Advisory

Our Transaction Advisory practice focuses on M&A, Project Advisory, Financial Advisory, and Asset restructuring

Investment advisory / M&A

Partner search & due diligence

Valuation / Structuring of deal

Deal negotiation and finalisation

Post merger/acquisition alignment

Asset restructuring/ purchase/sale

Structuring/valuation of financial instruments / Ratings advisory (ex-India)

Structuring concession agreements

Bid process management

Financial modelling for large project

Project / bid structuring

Risk assessment & contract structuring

Assisting in financial closure

Payment security mechanisms

Corporate Finance (M&A, Asset restructuring) Project Finance (focus on infrastructure )

TransactionAdvisory

4



Clients in our Transaction Advisory Practice…A

Sample clients across various sectors – Engineering / Banking / Telecom & Technology

Sundram Fasteners

TVS Electronics

Tinplate Industries

ICICI Bank

Larsen & Toubro

Canara Bank Sequoia Capital Bank of India

Shyam Telecom

TIL Limited

UTVHutchison

TransactionAdvisory

4



Clients in our Transaction Advisory Practice…B

Sample clients across various infrastructure sectors – Roads/ Railways / Power

Leighton Contractors

(India)

NTPC

Lanco Infratech

IRCON

GMR Projects

Govt of Delhi (Delhi Mono Rail

Project)Konkan Railway Kutch Railway

Powergrid Corporation

Maytas Infrastructure

Tata PowerRanhill, Malaysia

TransactionAdvisory

4



Range of Consulting Services 5…Policy & Regulation

We focus on Institutional Reform and Regulatory Economics with Government / Regulators and in Infrastructure sectors

Sector / Institutional reform

Fiscal / Administrative reform

Subsidies

Capacity building for improving

(a) governance (b) service delivery

Public-private partnerships

Governments - Central / Federal / Local

Tariff determination & pricing policy

Licensing policies

Competition policy

Regulatory reform

Studies on impact of regulation

Regulatory authorities / Service providers

Policy & Regulation

5



Clients in our Policy & Regulation Practice…A

Sample clients across various categories

Reserve Bank of India

Comptroller & Auditor General,

Govt. of India

Airports Authority of

India

Ministry of Commerce &

Industry

The Planning Commission

Asian Development

Bank

National Institute of

Urban Affairs

National Institute of

Public Finance & Policy

TheDisinvestment Commission

The World Bank

Government of Pondicherry

Financial Institutions

Reforms Exchange

Policy & Regulation

5



Clients in our Public policy practice…BPolicy & Regulation

Sample clients across Energy / Telecom / Transportation / Urban sectors

DfID

Ministry of Economic

Reforms Govt. of Sri Lanka

Ministry of Power,

Government of India

Ministry of Renewable

Energy Sources

Central Electricity Regulatory

Commission

The World BankAsian

Development Bank

APEDA, Ministry of Commerce &

Industry

Dept. of Telecom, Govt of

India

Delhi Electricity Regulatory

Commission

Government of Kerala

Telecom Regulatory

Authority of India

Policy & Regulation

5



Range of Consulting Services…6Development Consulting

We focus on human development, environment and equity

Our clientele is across Governments, Multilateral agencies, DevelopmentAid Agencies, Foundations, and Corporates.

Services offered• Policy and sector studies and analyses• M&E and impact assessment • Participatory field research • Sector reform and restructuring • Enabling e-governance • Fiscal and administrative reforms, and

expenditure management • Regulatory reforms, tariffs and quality of

service

Areas of work• Human development and sub-

sectors - education, health, employment, R&R, and poverty

• Environment and sub-sectors, including water supply, WRM, sanitation and climate change

• SME, MSME, & Micro-finance• Corporate social responsibility• Knowledge management


6



Select Clients in our Development Consulting Practice

Tamil Nadu Urban Financial

Services Ltd

Eco Asia Project (USAID funded) DfID (India)

APEDA, Ministry of Commerce &

Industry

UNICEF (India)

Economic Growth of MMR (USAID funded)

Universal Service Obligation Fund Administrator

World Bank Institute

Asian Development

BankWorld Bank Microsoft, USAIDBaxter Chronic

Care Foundation


6



How does IMaCS add value to clients?

IMaCS enjoys strong credibility for its incisive, objective, and high-impact analysis

IMaCS has built a reputation for providing implementable solutions for complex business and development problems across a variety of sectors

IMaCS is widely regarded by stakeholders for its thought leadership and independent positioning

• Reputation of IMaCS’ shareholders

• Highly qualified and experienced employees / associates

• A world-class knowledge-base, research & analytics

• Our ability to put out independent analysis and forthright opinions

The above arise from



For additional details, please contact…..

V.Sriram / Anand MadhavanIMaCSV Floor, Karumuttu Centre634 Anna SalaiChennai - 600 035Tel : 91 44 45964326 / 24348080Fax: 91 44 24343663email: [email protected]

[email protected]

B V RajeshIMaCS M-01, Mezzanine floor,Prestige Infantry Court130, Infantry Road,Bengaluru– 560 001Phone: 91 80 4093 4100Fax: 91 80 4093 4111Email: [email protected]

Arijit BhattacharyaIMaCS Logix Park, First FloorTower A4 & A5, Sector - 16Noida - 201 301Ph: +91 120 4515810Fax: +91 120 4515850Email: [email protected]

Harish KamathIMaCS4th floor, Electric MansionAppasaheb Marathe Marg, PrabhadeviMumbai - 400 025Tel : 91 22 3047 0055Fax: 91 22 3047 0081email: [email protected]



Thank you

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