IMaCS

A Business Profile 2012

ICRA Management Consulting Services Limited

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

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

Shareholders of ICRA Limited

Moodys, Banks, FIs, Public, Employees

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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
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IMaCS is organised under five business groups

Board of Directors

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

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

- Business Groups -

IMaCS

Banking & Finance

Infrastructure

Energy

Corporate

Government/ Multi-lateral agencies

Central Govt. State / Federal Local Govt Municipalities Multilaterals Regulators

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

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IMaCS services can be grouped under three themes IMaCS (Range of Services)

Consulting
Strategy consulting Process consulting Risk management Quantitative modelling Economic regulation Public policy

Research & Analytics

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

Transaction Advisory
M&A Due diligence Valuation Project advisory Financial restructuring Public Private Partnership Bid / Financial advisory
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IMaCS has an international footprint we have on-theground consulting experience in over 40 countries

Denotes either projects done or clients located in a country

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IMaCS focuses on six practice areas

1 2
Strategy Enhancing Competitiveness / Market Assessment / Improving effectiveness / Market Intelligence / Strategy formulation

Risk

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

Process Consulting Transaction Advisory Policy & Regulation

Cost reduction / Process re-engineering / Organisation design

4 5

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

Regulatory Economics / PPP Models/ Governance

Development Consulting

Investment Institutional Capacity Poverty Climate Strengthening Building Alleviation

Sustainable Development

Service offerings

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Range of consulting services1 Strategy Practice

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

Strategy

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)

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Select clients in our Strategy PracticeA

Automotive Volvo Tata Motors Hyundai Motors M&M Maruti Suzuki Limited Cummins India NATRIP Sumitomo Apollo Tyres Sundram Fasteners Rane Madras Roots Dunlop Amco Batteries Engineering Larsen & Toubro BHEL Biecco Lawrie Caterpillar-TIL IDIADA, Spain Mazagon Docks Philips Andrew Yule Mitsubishi Hindustan Dorr Phoenix Yule Doosan Industries Tata Projects NALCO

Strategy

Consumer Goods Hindustan Unilever Parry Confectionery ITC Perfunova Kaventer Agro MAFCO Heritage Indo Nippon Radico Khaitan Liberty Shoes ICI Hindustan Foods Action Shoes
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Clients in our Strategy PracticeB

Sample clients across various industries - Telecom / Government / Tourism

Strategy

Hutchison

UTV Limited

MTNL

Philips

Planning Commission

Comptroller & Auditor General of India

Ministry of Commerce

Disinvestment Commission

Govt. of Uttaranchal

Indian Hotels (Taj group)

East India Hotels (Oberoi)

Jet Airways

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Clients in our Strategy practiceC

Sample clients in the Banking and Infrastructure sectors

Strategy

World Bank

Bank of Nova Scotia

IFC

Bank of Seychelles

Sundaram Finance

Cal Bank, Ghana

IDBI

Oriental Bank of Commerce

India Infra Finance Ltd

Banpu Thailand

Kribhco

Powergrid Corporation

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Range of consulting services2 Risk Management

The essence of Risk management is to manage uncertainty with sound policies, processes, tools, and systems. We provide a full service Our clientele is across all sectors - Banking, Infrastructure, Manufacturing and services. Our offerings are:

Risk

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

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Clients in our Risk Management practiceA

Sample clients in the Banking / Financial sector Clearing Corporation of India

Risk

State Bank of India

IDBI

Bank of India

HDFC

YES Bank

HUDCO

National Housing Bank

UNB, Abu Dhabi

EXIM Bank of India

The Future Group

ING Barings

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Clients in our Risk Management PracticeB

Sample clients in the Infrastructure Sector

Risk

A.P. Transco

Tata Power

RPG Group

Reliance Energy

PowerGen

Eastern Generation

Gujarat Maritime Board

Commonwealth Development Corporation

GMR Group

IRFC

Ennore Port

International Sea Ports

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Clients in our Risk Management PracticeC

Sample clients in the Manufacturing / Service sector Rashtriya Chemical & Fertilisers

Risk

Indian Oil

Oil India

NALCO

Hindustan Aeronautics

Sesa Goa

Gujarat Narmada Fertilisers

BHEL

Mitsubishi

ICI

IFFCO

TVS Electronics

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Range of Consulting Services3 Process Consulting

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

Process Consulting

Our clientele is across all sectors - Banking, Infrastructure, Manufacturing and services. Our offerings are:
Cost reduction Business Process Re-engineering Organisation and process design Supply chain management Customer relationship management Information & systems design

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Select Clients in our Process Consulting Practice

Sample clients across various industries

Process Consulting

Hindustan Unilever

East India Hotels

Mersey (Hongkong)

Karnataka Industries Area Dev. Board

MTNL

Peerless Hotels

Mitsubishi Industries

Zoom Developers

ABT Industries

Tata Motors

Peerless General Finance

Canara Bank

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Range of Consulting Services 4 Transaction Advisory

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

Transaction Advisory

Corporate Finance (M&A, Asset restructuring)

Project Finance (focus on infrastructure )

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

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Clients in our Transaction Advisory PracticeA

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

Transaction Advisory

Larsen & Toubro

Sundram Fasteners

TIL Limited

Tinplate Industries

ICICI Bank

Canara Bank

Sequoia Capital

Bank of India

Hutchison

Shyam Telecom

TVS Electronics

UTV

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Clients in our Transaction Advisory PracticeB

Sample clients across various infrastructure sectors Roads/ Railways / Power Leighton Contractors (India)

Transaction Advisory

GMR Projects

Maytas Infrastructure

Lanco Infratech

IRCON

Govt of Delhi (Delhi Mono Rail Project)

Konkan Railway

Kutch Railway

Ranhill, Malaysia

Powergrid Corporation

NTPC

Tata Power

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Range of Consulting Services 5 Policy & Regulation

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

Policy & Regulation

Governments - Central / Federal / Local

Regulatory authorities / Service providers

Sector / Institutional reform Fiscal / Administrative reform Subsidies Capacity building for improving (a) governance (b) service delivery Public-private partnerships

Tariff determination & pricing policy Licensing policies Competition policy Regulatory reform Studies on impact of regulation

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Clients in our Policy & Regulation PracticeA

Sample clients across various categories

Policy & Regulation

The Planning Commission

Reserve Bank of India

The World Bank

Airports Authority of India

Ministry of Commerce & Industry

Asian Development Bank

National Institute of Urban Affairs

National Institute of Public Finance & Policy

Financial Institutions Reforms Exchange

The Disinvestment Commission

Comptroller & Auditor General, Govt. of India

Government of Pondicherry

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Clients in our Public policy practiceB Policy & Regulation

Central Electricity Regulatory Commission

Policy & Regulation

Sample clients across Energy / Telecom / Transportation / Urban sectors Delhi Electricity Regulatory Commission Ministry of Power, Government of India

DfID

Ministry of Renewable Energy Sources

The World Bank

Asian Development Bank

APEDA, Ministry of Commerce & Industry

Telecom Regulatory Authority of India

Dept. of Telecom, Govt of India

Ministry of Economic Reforms Govt. of Sri Lanka

Government of Kerala

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Range of Consulting Services6 Development Consulting

We focus on human development, environment and equity

Development Consulting

Our clientele is across Governments, Multilateral agencies, Development Aid 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 subsectors - 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
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Select Clients in our Development Consulting Practice

Development Consulting

UNICEF (India)

Tamil Nadu Urban Financial Services Ltd

Eco Asia Project (USAID funded)

DfID (India)

APEDA, Ministry of Commerce & Industry

Economic Growth of MMR (USAID funded)

Universal Service Obligation Fund Administrator

World Bank Institute

Baxter Chronic Care Foundation

Asian Development Bank

World Bank

Microsoft, USAID

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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

The above arise from

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
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For additional details, please contact..

Arijit Bhattacharya IMaCS Logix Park, First Floor Tower A4 & A5, Sector - 16 Noida - 201 301 Ph: +91 120 4515810 Fax: +91 120 4515850 Email: arijit.bhattacharya@imacs.in Harish Kamath IMaCS 4th floor, Electric Mansion Appasaheb Marathe Marg, Prabhadevi Mumbai - 400 025 Tel : 91 22 3047 0055 Fax: 91 22 3047 0081 email: harish.kamath@imacs.in

V.Sriram / Anand Madhavan IMaCS V Floor, Karumuttu Centre 634 Anna Salai Chennai - 600 035 Tel : 91 44 45964326 / 24348080 Fax: 91 44 24343663 email: sriram.v@imacs.in anand.m@imacs.in

B V Rajesh IMaCS M-01, Mezzanine floor, Prestige Infantry Court 130, Infantry Road, Bengaluru 560 001 Phone: 91 80 4093 4100 Fax: 91 80 4093 4111 Email: rajesh.bv@imacs.in

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Thank you

www.imacs.in

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