IPO Q1 2012
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Transcript of IPO Q1 2012
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7/31/2019 IPO Q1 2012
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M^G [ht`b Aqrg~a
Pqrsa}X8 ?>8?
{{{%~{`%`gf
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Aqrg~ahe M^G h`tmsmt} o} shiqa hed sgiqfa 0
M^G gccarmek shiqa 4
M^G sgiqfa 1
Tg~ cmsa M^Gp 3
M^Gp o} pa`tgr hed shiqa ;
QP h`tmsmt} 2
Gccarmek shiqa gc M^Gp o} fgetb =
Sgiqfa gc M^Gp o} fgetb 8>
AQ& sarpqp a`bheka&rakqihtad fhrjatp 88
M^Gp o} fhrjat 8?
Hogqt M^G [ht`b Aqrg~a 80
@getaetp
?X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
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ShiqagcM^Gp"f-
SgiqfagcM^Gp
M^Gp Shiqaf
12 M^Gp rhmpad?%0oe me tba cmrpt xqhrtar gc ?>8?% Hctar h pqpthmead ~armgd gc
qe`arthmet}) sgihtmimt} hed pbaisad cightp) tba M^G fhrjat mp pthrtmek tg cmkbt mtp {h} oh`j
tg bahitb) {mtb hsarhka trheph`tmge shiqap ge tba rmpa%
0
, Hsarhka gccarmek shiqa bhp oaae `hi`qihtad ohpad ge tgthi gccarmek shiqa gsar tbaeqfoar gc imptmekp rhmpmek fgea}%
Aqrg~ahe M^G h`tmsmt} o} shiqa hed sgiqfa
^{@ X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
X8 ?>8? X8 ?>88 X4 ?>88
Tgthi Aqrg~ahe imptmekp gf~rmpa tbgpa {mtb ?2
Fgea} rhmpad 43 ;1 1>
Hsarhka gccarmek shiqa "f- , 1> 0= 8;
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^{@
4?!
0>!
?;!
8! >!
E]PA Aqrgeat
PMR P{mpp A`bheka
Igedge Ptg`j A`bheka Krgq~
[hrph{
Gtbarp
Ptg`j a`bheka
Hsarhka gccarmekshiqa
"f- X8 ?>8?
Hsarhka gccarmekshiqa
"f- X4 ?>88
PMR P{mpp 328 &
E]PA Aqrgeat 830 ?
Igedge Ptg`j A`bheka 44 2=
EHPDHX GFR ? 08
OFA "P~hempb A`bheka- ? &
[hrph{ 8 &
Daqtp`ba Orpa & 1
Gpig Orp # Gpig Happ & 4
Ogrph Mthimheh & 0
4X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
Tba xqhrtarp t{g ihrkapt M^Gp tggj ~ih`a geAqrgeat hed tba PMR P{mpp A`bheka `h~tqrmek 30! gc cqedp% PMR P{mpp bgptad gei} gea trheph`tmge) rhmpmek328f%
M^G gccarmek shiqa Hsarhka gccarmek shiqa ,
, Hsarhka gccarmek shiqa bhp oaae `hi`qihtad ohpad ge tgthi gccarmek shiqa gsar tbaeqfoar gc imptmekp rhmpmek fgea}%
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40!
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84!
1!1!
1!
[hrph{
Igedge Ptg`j A`bheka Krgq~
E]PA Aqrgeat
EHPDHX GFR
OFA "P~hempb A`bheka-
Gtbarp
1X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
M^G sgiqfa
T{g&tbmrdp gc h`tmsmt} tggj ~ih`a ge a`bheka&rakqihtad fhrjatp) tbgqkb =;! gc cqedp
{ara rhmpad ge AQ&rakqihtad fhrjatp
X8 ?>8?
Ptg`j a`bheka M^GpGccarmek
shiqa "f-AQ&_AKQIHTAD
E]PA Aqrgeat "Aqrgeat- 3 =;?
PMR P{mpp A`bheka 8 328
Igedge Ptg`j A`bheka Krgq~ "Igedge Fhme- ; 13=
[hrph{ "Fhme- 4 2
EHPDHX GFR "Fhme- 8 &
Daqtp`ba Orpa "^rmfa hed Kaearhi Pthedhrd- & &
[maear Orpa & &
Gpig Orp & &
Igedge Ptg`j A`bheka Krgq~ "Ogrph Mthimheh Fhme- & &
OFA "P~hempb A`bheka- "Fhme- & &
Iqafogqrk 8 &
AQ&rakqihtad pqo&tgthi , ?> ?)?0>
AR@BHEKA&_AKQIHTAD
Igedge Ptg`j A`bheka Krgq~ "Igedge HMF- = 1?
[hrph{ "Ea{@geea`t- ?8 3
OFA "P~hempb A`bheka- "FHO- 0 3E]PA Aqrgeat "Hitareat- ? 0
EHPDHX GFR "Cmrpt Egrtb- ? ?
Igedge Ptg`j A`bheka Krgq~ "Igedge PCF- & &
Gpig Happ & &
Igedge Ptg`j A`bheka Krgq~ "Ogrph Mthimheh HMF- & &
Iqafogqrk "AqrgFTC- & &
Daqtp`ba Orpa "Aetr} Pthedhrd- 8 &
A`bheka&rakqihtad pqo&tgthii , 02 3=
Aqrg~a tgthi 12 ?)?==
, M^Gp o} fhrjat hra pbg{e krgpp gc dqhi imptmekp: bg{asar tbapa hra eattad gcc me tba
Aqrg~a tgthi eqfoar hed gccarmek shiqap%
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23!
84!
Tg~ 1 M^Gp Gtbarp
3X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
Tg~ cmsa M^Gp Tba tg~ cmsa M^Gp h``gqetad cgr 23! gc hii shiqa rhmpad
Igedge bgptad tbraa gqt gc tba tg~ cmsa M^Gp me X8 ?>8? tbgqkb tbamr `gfomead tgthi
"4=8f- {hp a`im~pad o} tba xqhrtarp t{g ihrkapt M^Gp tbht rhmpad h tgthi gc 8%42oe
Cmsa ihrkapt M^Gp gc X8 ?>8?f
rhmpad Pa`tgr Fhrjat Pakfaet
@gqetr} gc
Grmkme
\mkkg 2>4 Taia`gffqem`htmgep Aqrgeat Aqrgeat Eatbarihedp
DJPB Bgidmek 328 Medqptrmhi Kggdp # Parsm`ap PMR P{mpp Fhme Tbhmihed
Oiqa`rapt Oiqatraed 8=2 Mesaptfaet @gf~he} Igedge Fhme Kqarepa}
_qp~atrg 8=3 Gmi # Khp Igedge Fhme _qppmh
Hi`aetrh Aqrg~ahe Cightmek _hta Me`gfa Cqed =; Mesaptfaet @gf~he} Igedge Fhme Kqarepa}
Tgthi 8)=;3
Cmsa ihrkapt M^Gp gc X8 ?>88f
rhmpad Pa`tgr Fhrjat Pakfaet
@gqetr} gc
Grmkme
Lqptm`a Bgidmekp 8)>30 Mesaptfaet @gf~he} Igedge Fhme QJ
Hjar Drmiimek 411 Gmi # Khp Gpig Orp Egr{h}
BFP B}drhqim` Fh`bmeap # P}ptafp Krgq~ ?34 Medqptrmhi Kggdp # Parsm`ap Igedge Fhme _qppmh
Chrkigr} Ihed Dasaig~faet @g 81; _ahi Apthta Igedge Fhme Thm{he
Mthi}8 Mesaptfaet 81> Mesaptfaet @gf~he} Ogrph Mthimheh Fhme Mthi}
Tgthi ?)>2=
Cmsa ihrkapt M^Gp gc X4 ?>88f
rhmpad Pa`tgr Fhrjat Pakfaet@gqetr} gcGrmkme
^gi}fathi Metarehtmgehi 4?8 Fmemek Igedge Fhme _qppmh
Omicmekar Oarkar Kigohi Mecrhptrq`tqra PM@HS ?18 Mesaptfaet @gf~he} Igedge Fhme QJ
Dhfmiia Mesaptfaet MM 30 Mesaptfaet @gf~he} Igedge PCF Kqarepa}
Bhkhr 08 _athmi GFR Fhme M`aihed
Pa`qra Trqpt Ohej ?8 Ohejp Igedge HMF QJ
Tgthi ;2;
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^{@
Pa`tgr
@gf~he}M^Gp
X8 ?>8?
@gf~he}M^Gp
X8 ?>88
@gf~he}M^Gp
X4 ?>88
Ta`begigk} 80 1 8?
Medqptrmhi Kggdp # Parsm`ap 2 82 8=
_ahi Apthta 3 1 8
Mesaptfaet @gf~hemap 1 80 0Fmemek 4 8 4
^bhrfh`aqtm hip # Omgta`b 4 1 0
Fadmh 4 ? ?
Cmehe`mhi Parsm`ap 0 3 ;
Gmi # Khp 0 2 4
Taia`gffqem`htmgep 0 8 8
Bahitb @hra 8 4 4
@geptrq`tmge # Fhtarmhip 8 0 8
Ohejp 8 8 8
@bafm`hip 8 & &_athmi 8 ? ?
^arpgehi # Bgqpabgid Kggdp & 4 4
Trhsai # Iampqra & 1 0
Ohpm` _apgqr`ap & 8 0
Qtmimtmap & 1 ?
Hqtgfgomiap # ^hrtp & 0 8
Cggd # Oasarhka & 0 8
Mepqrhe`a & & &
Tgthi 12 =1 ;2
01!
0>!
83!
8>!
0!0!0!
Taia`gffqem`htmgep
Medqptrmhi Kggdp # Parsm`ap
Mesaptfaet @gf~hemap
Gmi # Khp
Ta`begigk}
^bhrfh`aqtm hip # Omgta`b
Gtbarp
;X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
M^G pa`tgrp o} shiqa
Ta`begigk} M^Gp {ara fhmei} bgptad ge [hrph{ Ea{@geea`t) rhmpmek h `gfomead
tgthi gc?f ge tbmp a`bheka% Tba xqhrtarp ihrkapt M^G)\mkkg) h `gf~he} me tba
taia`gffqem`htmgep pa`tgr) rhmpad2>4f ge Aqrgeat%
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X8 ?>8? X8 ?>88 X4 ?>88
Ptg`j a`bheka M^GpGccarmek shiqa
"f- M^GpGccarmek shiqa
"f- M^GpGccarmek shiqa
"f-
E]PA ?1 0)002 83 2)38; 81 ?)31=
EHPDHX 8= 8)>0> 8; 2=? 80 ?)8;4
QP tgthi 44 4)032 00 =)1>= ?2 4)200
2X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
QP h`tmsmt}
Oqmidmek ge fgfaetqf `hrrmad gsar crgf tba cgqrtb xqhrtar gc ?>88) tba QP M^G
fhrjat pbg{ad pmkemcm`het ptraektb me tba cmrpt xqhrtar gc ?>8?) rapqitmek me tba bmkbapt
cmrpt xqhrtar sgiqfa pme`a ?>>;
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02=
?)880
412
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Lheqhr} Caorqhr} Fhr`b
ShiqagcM^Gp"f
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?>88 ?>8?
=X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
Gccarmek shiqa gc M^Gp o} fgetb
Tba xqhrtarp ihrkapt M^Gp {ara baid tg{hrdp tba aed gc Fhr`b) pmkemcm`heti} oggptmek
fgea} rhmpad me X8 ?>8?
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SgiqfagcM^G
p
?>88 ?>8?
8>X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
Sgiqfa gc M^Gp o} fgetb
Tba xqhrtar a~armae`ad h ptahd} me`rahpa me M^G h`tmsmt} hp mt ~rgkrappad
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013 ?
8)==2
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00 8=3 881 8?; 82;
8)=>;
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Lhe ?>88 Lhe ?>8? Cao ?>88 Cao ?>8? Fhr ?>88 Fhr ?>8?
ShiqagcM^Gp"f
-
A`bheka AQ
88X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
AQ& sarpqp a`bheka&rakqihtad fhrjatp
Fhr`bp ihrka trheph`tmgep {ara baid ge AQ&rakqihtad a`bhekap
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^{@
X8 ?>8? X8 ?>88 X4 ?>88
Ptg`j a`bheka M^GpGccarmek shiqa
"f- M^GpGccarmek
shiqa "f- M^GpGccarmek
shiqa "f-TGTHI
E]PA Aqrgeat 2 =;1 3 40 8 ?
PMR P{mpp A`bheka 8 328 & & & &Igedge Ptg`j A`bheka Krgq~ "8- 83 3?8 ?1 8)=;8 8; 2>3
[hrph{ ?1 84 41 8?8 4? 81
OFA "P~hempb A`bheka- 0 3 ? & & &
EHPDHX GFR 0 ? 0 0 88 08
Daqtp`ba Orpa 8 & 4 ?44 0 1
Iqafogqrk 8 & ; 88> 8 &
Gpig Orp # Gpig Happ & & 4 432 ? ;
[maear Orpa & & & & 8 &
Aqrg~a tgthi "0- 12 ?)?== =1 ?)=3> ;2 233AQ&_AKQIHTAD
E]PA Aqrgeat "Aqrgeat- 3 =;? 8 & & &
PMR P{mpp A`bheka 8 328 & & & &
Igedge Ptg`j A`bheka Krgq~ "Igedge Fhme- ; 13= 80 8);4? 4 3;?[hrph{ "Fhme- 4 2 ; ;0 4 &
EHPDHX GFR "Fhme- 8 & & & 4 08
Daqtp`ba Orpa "^rmfa hed Kaearhi Pthedhrd- & & ? 8=? ? 1
[maear Orpa & & & & 8 &
Gpig Orp & & ? 432 & &
Igedge Ptg`j A`bheka Krgq~ "Ogrph Mthimheh Fhme- & & ? 81> & &
OFA "P~hempb A`bheka- "Fhme- & & 8 & & &
Iqafogqrk 8 & & & & &
AQ&rakqihtad pqo&tgthi "0- ?> ?)?0> ?; ?)3?1 81 ;>2AR@BHEKA&_AKQIHTAD
Igedge Ptg`j A`bheka Krgq~ "Igedge HMF- = 1? = ;3 8> 31
[hrph{ "Ea{@geea t- "?- ?8 3 02 42 02 81
OFA "P~hempb A`bheka- "FHO- 0 3 8 & & &
E]PA Aqrgeat "Hitareat- ? 0 1 40 8 ?
EHPDHX GFR "Cmrpt Egrtb- ? ? 0 0 ; &
Igedge Ptg`j A`bheka Krgq~ "Igedge PCF- & & & & 8 30
Gpig Happ & & ? & ? ;
Igedge Ptg`j A`bheka Krgq~ "Ogrph Mthimheh HMF- & & 8 0 ? 3
Iqafogqrk "AqrgFTC- & & ; 88> 8 &
Daqtp`ba Orpa "Aetr} Pthedhrd- 8 & ? 1? 8 &
A`bheka&rakqihtad pqo&tgthi "0- 02 3= 32 001 30 812
Aqrg~a tgthi 12 ?)?== =1 ?)=3> ;2 233
8?X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
"8- Tba Igedge Ptg`j A`bheka Krgq~ gf~rmpap tba Igedge hed Ogrph Mthimheh ptg`j a`bhekap%"?- @qfqihtmsai} tba [PA Ea{@geea`t rhmpad;f me X8 ?>8?% Bg{asar) arthme trheph`tmgep rhmpad he hfgqet tbht rgqedad dg{e tg emi hed tba cmkqra hogsa mp tba pqf gc tba rgqedad shiqap%"0- M^Gp o} fhrjat hra pbg{e krgpp gc dqhi imptmekp: bg{asar tbapa hra eattad gcc me tba Aqrg~a tgthi eqfoar hed gccarmek shi qap%
M^Gp o} fhrjat
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^{@
Hogqt M^G [ht`b Aqrg~a
M^G [ht`b Aqrg~a pqrsa}p hii ea{ ~rmfhr}fhrjat axqmt} M^Gp ge Aqrg~ap ~rme`m~hi ptg`jfhrjatp hed fhrjat pakfaetp "me`iqdmeka`bhekap me Hqptrmh) Oaikmqf) Daefhrj) Crhe`a)Karfhe}) Kraa`a) Bgiihed) Mraihed) Mthi})Iqafogqrk) Egr{h}) ^gihed) grtqkhi) P~hme)
P{adae) P{mt|arihed hed tba QJ- ge h xqhrtari}ohpmp% Fgsafaetp oat{aae fhrjatp ge tba phfaa`bheka hed kraaepbga gccarmekp hra a`iqdad%
Tbmp pqrsa} {hp gedq`tad oat{aae 8 Lheqhr}hed Fhr`b 08 ?>8? hed h~tqrap ea{ fhrjatM^Gp ohpad ge tbamr trheph`tmge dhta% Hii fhrjatdhth mp pgqr`ad crgf tba ptg`j fhrjatp
tbafpaisap hed bhp egt oaae meda~aedaeti}sarmcmad o} ^rm`a{htarbgqpa@gg~arp II^%
80X8 ?>8? M^G [ht`b Aqrg~a Pqrsa}
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Tbmp ~qoim`htmge bhp oaae ~ra~hrad cgr kaearhi kqmdhe`a ge fhttarp gc metarapt gei}) hed dgapegt geptmtqta ~rgcappmgehi hdsm a% ]gq pbgqid egt h`t q~ge tba mecgrfhtmge gethmead me tbmp~qoim`htmge {mtbgqt gothmemek p~a`mcm` ~rgcappmgehi hdsm`a% Eg ra~rapaethtmge gr {hrrhet}"a~rapp gr mf~imad- mp kmsae hp tg tba h``qrh`} gr gf~iataeapp gc tba mecgrfhtmge gethmeadme tbmp ~qoim`htmge) hed) tg tba ataet ~arfmttad o} ih{) rm`a{htarbgqpa@gg~arp II^) mtpfafoarp) af~ig}aap hed hkaetp dg egt h``a~t gr hppqfa he} imhomimt}) rap~gepmomimt} gr dqt} gc`hra cgr he} gepaxqae`ap gc }gq gr he}gea aipa h`tmek) gr racrhmemek tg h`t) me raimhe`a ge tbamecgrfhtmge gethmead me tbmp ~qoim`htmge gr cgr he} da`mpmge ohpad ge mt%
?>8? ^rm`a{htarbgqpa@gg~arp II^% Hii rmkbtp raparsad% Me tbmp dg`qfaet) ^{@ racarp tg
^rm`a{htarbgqpa@gg~arp II^ {bm`b mp h fafoar cmrf gc ^rm`a{htarbgqpa@gg~arpMetarehtmgehi Imfmtad) ah`b fafoar cmrf gc {bm`b mp h pa~hrhta iakhi aetmt}%