MIRA
INFORM REPORT
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Report Date : |
5TH
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
GENESIS
MOCROCHIP INDIA PRIVATE LIMITED |
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Formerly known as : |
SAGE
DESIGN SYSTEMS INDIA PRIVATE LIMITED |
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Registered Office : |
George
Thangiah Complex (East), 2nd Floor, 80 Feet Road, Jeevan Bhima
Nagar, Bangalore – 560075, Karnataka, India |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
11.03.1996 |
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Company Reg. No.: |
08-20028 |
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CIN No.: [Company
Identification No.] |
U03000K1996PTC020028 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS03362C |
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Legal Form : |
Private
Limited Liability Company. |
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Line of Business : |
The
subject is engaged in design / development of computer software in the areas
of DTV products, semiconductors, integrated – circuit design etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
300000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Financial position
is satisfactory. Payments are correct and as per commitments. The
company can be considered good for normal business dealing at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office / Head Office/ Software Technical and Development
centre : |
George
Thangiah Complex (East), 2nd Floor, 80 Feet Road, Jeevan Bhima
Nagar, Bangalore – 560075, Karnataka, India |
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Tel. No.: |
91-80-25263878
/ 25278167 |
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Mobile No.: |
91-80-25296245 |
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Email : |
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Website : |
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Area : |
10000
sq. ft. |
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Location : |
Leased
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Headquarters: |
Genesis Microchip Inc. Sales (U.S. & Canada)
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Regional Offices |
Canada Europe |
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DIRECTORS
|
Name : |
Mr.
Muthu Krishnan |
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Designation : |
Director
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Name : |
Mr.
Sundar Krishnamurthi |
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Designation : |
Director
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Name : |
Mr.
Elie Antoun |
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Designation : |
Director
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Name : |
Mr.
Mike Healy |
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Designation : |
Director
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Name : |
Ms.
Ava Hahn |
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Designation : |
Director
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KEY EXECUTIVES
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Executive
Team |
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Chief Executive Officer |
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Executive Vice President |
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CFO & Senior Vice President, Finance |
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Chief Technology Officer |
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Senior Vice President, Product Marketing |
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Senior Vice President, Worldwide Sales |
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Senior Vice President of Product Development |
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Senior Vice President, Strategic Engineering
Initiatives |
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Vice President, Corporate Marketing & GM,
Faroudja |
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General Counsel |
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Associate General Counsel & Secretary |
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Vice President, Human Resources |
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Senior Vice President, Operations |
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Vice
President, Quality Assurance |
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Board |
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Chief Executive Officer |
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Member of the Audit and the Nominating Committees |
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Member of the Compensation and the Corporate
Governance Committees |
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Member of the Audit and the Governance Committees |
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Chairman, Member of the Compensation and the
Nominating Committees |
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Member of the Audit and the Nominating Committees |
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Member of the Corporate Governance Committee |
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MAJOR SHAREHOLDERS
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Names
of Shareholders |
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Percentage of Holding |
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Directors
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|
100.00 % |
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BUSINESS DETAILS
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Line of Business : |
The subject
is engaged in design / development of computer software in the areas of DTV
products, semiconductors, integrated – circuit design etc. |
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Exports to : |
USA |
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Imports from : |
USA /
Far East |
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Terms : |
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Selling : |
Credit
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Purchasing : |
Credit
and wire transfer |
GENERAL
INFORMATION
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Suppliers : |
Genesis
Microship, USA / Taiwan |
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Customers : |
Sage
INC, USA |
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No. of Employees : |
130 |
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Bankers : |
v
HSBC
Bank, M G Road, Bangalore – 560001 v
Indian
Overseas Bank, Isro Branch, Airport Road, Bangalore – 560008 |
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Facilities : |
Rs.
10.450 millions |
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Banking Relations : |
Satisfactory
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Auditors : |
Price
Waterhouse Chartered
Accountants Bangalore
Bharat
S Raut and Company Chartered
Accountants Bangalore |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
13000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 130.000 millions |
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|
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Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
11502360 |
Equity
Shares |
Rs. 10/- each |
Rs. 115.024 millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
|
55.158 |
55.158 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
25.746 |
15.256 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
80.904 |
70.414 |
|
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
4.616 |
1.033 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
4.616 |
1.033 |
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DEFERRED TAX LIABILITIES |
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|
|
|
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TOTAL |
|
85.520 |
71.447 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
48.754 |
44.062 |
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Capital work-in-progress |
|
0.013 |
0.000 |
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INVESTMENT |
|
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
|
0.000 |
0.420 |
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Sundry Debtors |
|
155.292 |
12.160 |
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Cash & Bank Balances |
|
22.447 |
11.423 |
|
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Other Current Assets |
|
7.657 |
7.677 |
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Loans & Advances |
|
9.194 |
2.231 |
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Total Current Assets |
|
194.590 |
33.911 |
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|
Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
|
|
|
Current Liabilities |
|
155.074 |
5.163 |
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Provisions |
|
2.768 |
1.370 |
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Total Current Liabilities |
|
157.842 |
6.533 |
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Net Current Assets |
|
36.748 |
27.378 |
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MISCELLANEOUS EXPENSES |
|
0.004 |
0.006 |
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|
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|
|
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TOTAL |
|
85.520 |
71.447 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2003 |
31.03.2002 |
|
Sales Turnover [including other
income] |
|
147.024 |
92.446 |
|
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|
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|
Profit/(Loss)
Before Tax |
|
11.092 |
7.683 |
|
Provision
for Taxation |
|
|
|
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Profit/(Loss)
After Tax |
|
10.490 |
7.597 |
|
|
|
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Export
Value |
|
147.024 |
92.446 |
|
|
|
|
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Import
Value |
|
1.650 |
13.483 |
|
|
|
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KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2003 |
31.03.2002 |
|
PAT / Total Income |
(%) |
|
7.13 |
8.22 |
|
|
|
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Net
Profit Margin (PBT/Sales) |
(%) |
|
7.54 |
8.31 |
|
|
|
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
4.56 |
9.85 |
|
|
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Return
on Investment (ROI) (PBT/Networth) |
|
|
0.14 |
0.11 |
|
|
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
2.01 |
0.11 |
|
|
|
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|
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|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.23 |
5.19 |
LOCAL AGENCY
FURTHER INFORMATION
Date of
incorporation was 11th March 1996, Under the name of “Sage Design
Systems India Private Limited”. Name Changed to present from October, 2005.
Subject
is 100 % export oriented.
As
per website
About Genesis
Founded in 1987,
Genesis Microchip Inc. is the established leading supplier of display image
processors in both the flat-panel TV and LCD monitor markets. The world‘s
leading television and PC manufacturers rely on Genesis‘s award-winning, patented
technologies and display controller solutions to produce visibly better and
more vibrant images in their displays. Headquartered in Silicon Valley,
California, Genesis operates on a global level to serve customers in their own
countries with sales (link to sales page) and support centers in Taipei,
Taiwan; Seoul, Korea; Shenzen, China; Tokyo, Japan and Singapore. In addition
to its administrative and development center in the Silicon Valley, the Company
also maintains two development sites in Toronto, Canada and Bangalore, India.
Genesis is a publicly held company since February 24, 1998 and trades on the
Nasdaq National Market under the symbol GNSS.
Customers
Leading OEM
consumer electronics and PC manufacturers integrate Genesis‘s comprehensive portfolio
of image and video processing solutions across a broad range of platforms.
These include LCD, Plasma, CRT, DLP, LCOS and Rear Projection televisions; as
well as Flat-panel LCD monitors and Multi-function Monitors. BenQ, Compal,
Dell, EIZO, Fujitsu, Gateway, Hisense, Hitachi, HP, IBM, Konka, Legend,
Lite-On, LG Electronics, Mitsubishi, NEC, Panasonic, Philips, Quanta, Samsung,
Sharp, Sony, Toshiba, TPV (AOC), TTE (TCL), ViewSonic, Westinghouse and Xoxeco
all depend on the Genesis product portfolio, the most comprehensive in the
industry, for its wide variety of features with the highest level of quality
and compatibility over a broad range of devices.
Technology
Technology is the primary driver of Genesis Microchip‘s leadership
position in both the flat-panel TV and LCD monitor markets. Because of the
breadth of its intellectual property, from the company‘s initial founding as
well as strategic acquisitions that contributed mixed-signal integration,
Faroudja® video processing and DTV technologies, the company serves all of the
display markets easily and cost-effectively. Our areas of technological
expertise include: Scaling, Response Time Control, Advanced Color Management,
Film Mode, Format Conversion, Motion Adaptive Deinterlacing (MADi), Directional
Correlational Deinterlacing (DCDi), Edge Enhancement, Cross-color Suppression,
Noise reduction, Video Decoding and the DisplayPort digital interconnect
standard.
Genesis is the leading supplier of the video processors used in LCD
monitors. Genesis chips include patented advanced imaging technology providing
superior video quality.
Genesis leads the flat-panel TV controller industry today with its
patented and Emmy award-winning Faroudja video processing technologies.
Genesis Microchip‘s PūrVIEW HD™ family of DTV controllers provides
the industry with novel, flexible and cost-effective solutions that deliver a
high quality TV experience to end users.
Genesis Microchip to Present at
Oppenheimer Mobile Entertainment Conference
SAN JOSE, Calif., May 16, 2006 –
Genesis® Microchip Inc. (Nasdaq: GNSS), a world leader in the development of
image processing technologies for flat-panel TVs, monitors and other consumer
display products, today announced that Chief Financial Officer, Mike Healy,
will present to investors at the Oppenheimer Mobile Entertainment Conference on
May 18, 2006 at 1:30 p.m. EDT (10:30 a.m. PDT). The conference will be held at
the Roosevelt Hotel in New York City.
The presentation will be available
live and, subsequently, on demand via the Internet at http://www.gnss.com/inv_ir_events.phtml.
Investors should visit the site at least 15 minutes prior to the beginning of
the scheduled presentation to register, download and install any necessary
multimedia streaming software. The presentation will be archived and available
for at least 30 days on the Genesis Microchip website.
About Genesis Microchip
Genesis Microchip Inc. (Nasdaq:
GNSS) is a leading provider of image processing systems enabling superior
picture quality in flat-panel TVs and a variety of consumer and PC-display
products. Featuring Genesis Display Perfection® technologies and Emmy
award-winning Faroudja® video technologies, Genesis system-on-a-chip solutions
are used worldwide by display manufacturers to produce visibly better images
across a broad array of devices including flat-panel displays, digital TVs,
projectors, A/V receivers and DVD players/recorders. The Genesis technology
portfolio features analog and mixed signal system-on-a-chip design, DCDi® by
Faroudja deinterlacing, TrueLife™ video enhancement, IntelliComb™ video
decoding and includes over 185 patents. Founded in 1987, Genesis supports its
leading brand-name customers with offices in the U.S., Canada, India, Europe,
Taiwan, South Korea, China, Japan and Singapore. For more information about
Genesis Microchip Inc. or Genesis Display Perfection technologies, please visit
www.gnss.com.
Note to Editors: Genesis, Genesis
Display Perfection, Faroudja, DCDi by Faroudja, TrueLife, and IntelliComb are
trademarks or registered trademarks of Genesis Microchip Inc. All other
trademarks are the property of their respective owners.
Technology Overview
The technology
developed, acquired and patented by Genesis Microchip, makes us a clear market
leader in the display industry. Our portfolio of technologies and patents
enables us to provide industry-leading products and services in the LCD Monitor
and Flat Panel TV markets.
DTV Technologies
With the global
shift to include digital television services to existing analog capabilities,
new TVs must continue to deliver the purest and most satisfying visual and
audio experience, including a rich set of analog and digital connectivity.
Genesis Microchip's PūrVIEW HD™ family of DTV controllers provides the
industry with a novel, flexible and cost-effective approach to solving these
core issues in a manner that delivers a high quality TV experience to end
users. These solutions include:
Video Quality
- Enables access
to complete range of Genesis & Faroudja Video Enhancements
- May be paired
with any Genesis Video Controller
- Allows your
proprietary video processing or color control to be used in a DTV system
Crystal clear User Interface and Electronic Program
Guide:
- Video
eXpansion Interface (VXI) enables graphics overlay without compromise
- Removes the
blurring caused when video and graphics are combined before scaling
- Enables a
glueless interface to proprietary video ICs
Firmware media acceleration/upgrades
- VLIW's may be
repurposed for other chores e.g.
- Accelerated
JPEG decoding
- Decode other
media types
- Other Audio
format support (including "non-standard" audio types)
- Codecs for
Audio/Video communications
Simple migration from existing analog chassis or
Cortez designs
- DTV may be
added to any existing analog chassis as a simple addition
- Simple
retargeting of existing TV UI developed previously on Cortez family using
Genesis Workbench tool
One DTV solution, Many products
- A single DTV
board design may be populated by pin compatible Cortez family products
- Cortez-Lite/Hudson
for volume markets
- Cortez-Advanced
for PIP enabled 10bit video processing and 1080P display
- Firmware
compatible Cortez family enable a range of DTV products with minimal
effort
Scaling
Image scaling
continues to have a significant impact on the display industry, as displays
move from analog to pixelated digital displays. In pixelated displays (LCD,
Plasma, DLP and LCOS), scaling is required to deliver accurate and viewable
images from all PC graphics resolutions (VGA, XGA, SXGA, UXGA and higher) as
well as TV broadcast standards (Standard-Definition TV signals: NTSC, PAL,
SECAM, and High-Definition TV signals) onto displays with different native
resolutions and aspect ratios without creating objectionable artifacts. Genesis
was the first to develop and offer single-chip scaling solutions. Building upon
its extensive scaling patent portfolio, Genesis continues to invent
cost-effective, highly integrated components that deliver outstanding image
quality on flat screen televisions. Genesis scaling technology is a key enabler
to the industry growth and consumer acceptance of the fixed-pixel television
display as preferable replacements to CRT television.
LCD Response Time Compensation
Liquid crystal
displays offer sharp, crisp images. However, they may introduce motion blur
because the pixels cannot transition fast enough from one video frame to the
next. One way to overcome this is to use digital response time compensation
(RTC) technology, which ‘overdrives‘ the display to make it transition faster.
Genesis uses this technology to enable LCDs to respond as fast as CRTs - for
displaying motion video without motion blur.
Advanced Color Management
Most video content,
including television shows and movies, was originally created to be displayed
on a CRT TV (which has high brightness levels and a high contrast ratio) or in
a movie theater (which has low ambient lighting levels). However, LCD displays
are typically not as bright and have lower contrast levels than CRT displays.
As a result, video content tends to look dimmer and less colorful when viewed
on LCD displays. Genesis Microchip‘s Advanced Color Management suite of
algorithms includes Adaptive Color and Contrast (ACC™) and Active Color
Management (ACM-II™) technologies to enhance colors and adaptively augment
contrast levels for LCD displays. Additionally, the color management tools
allow implementation of various theme modes for the display. Themes such as
Nature Mode, Sports Mode and others are defined by the display manufacturer and
allow end users to choose the most desirable settings.
DCDi® by Faroudja
DCDi® by Faroudja represents a suite of video enhancement technologies
that produce exceptional image quality without introducing artifacts:
Directional Correlational Deinterlacing (DCDi)
Genesis‘s subsidiary, Faroudja, produced upconversion equipment to allow
broadcasters to continue using existing equipment to broadcast legacy NTSC
material during the transition to HDTV. Faroudja then developed DCDi®
(Directional Correlational Deinterlacing) technology to eliminate the jagginess
that conventional upconverters introduced to diagonal edges in video. DCDi‘s
unique algorithm identifies all the moving edges in a scene and adjusts the
angle of interpolation at each pixel so that the interpolation always follows
the edge instead of crossing it, eliminating staircasing or jagged edge
artifacts. This technology, in combination with its decoding, deinterlacing and
enhancement technologies, won an Emmy Award from National Academy of Television
Arts and Sciences in 2001. The DCDi algorithm is now incorporated into Genesis
Microchip‘s video controllers that were derived from the Faroudja technology.
Many consumer electronics products utilizing this Emmy award-winning technology
leverage the Faroudja brand with the ”DCDi® by Faroudja”, ”Faroudja DCDi
Cinema™” and ”Faroudja DCDi Edge™” logos on their products and marketing
materials.
Film Mode Detection Technology
Genesis-owned Faroudja invented and patented film mode detection or 3:2
pulldown detection in 1989. Film-originated content that has gone through 3:2
pulldown for conversion to NTSC is detected and the original film frames are
recreated by blending the fields back together. However, this creates an
artifact known as ”a comb”. Faroudja became the first company with ”bad edit
detection” capability to detect the original frames of film within the video
stream and reconstruct an accurate image. This produced an image free of motion
artifacts with full vertical resolution. One environment where this creates a
lot of value is when users switch back and forth between commercials on TV
(which are not film mode) and a movie which is film mode. This Film mode
processing is widely accepted in the industry..
TrueLife™ Enhancement
Conventional video enhancement is done by a ”peaking filter” that enhances the
high-frequency components of the video signal. However, this creates unwanted
artifacts. Genesis does not use a peaking filter to enhance an image, rather
uses its TrueLife™ Enhancement technology to identify transitions considered to
be the details in an image such as skin texture, freckles or hair. These detail
transitions are deliberately enhanced making them more visible and more
lifelike. The technology also enhances large edges to create greater depth of
perception without introducing visual artifacts or distortion.
Motion Adaptive Noise Reduction
Noise on an image is typically eliminated or reduced by filtering. Filtering
can be done spatially, (2-D), or temporally, (3-D). Spatial filtering results
in a soft image with loss of detail. Temporal filtering does not create loss of
detail, but if done incorrectly, does result in smearing or ghosting of moving
objects in the image. Genesis uses Motion Adaptive processing to reduce noise
without introducing smearing.
Cross Color Suppression
Cross color is an
artifact produced by the imperfect decoding of composite video. High frequency
luma components are incorrectly decoded as chroma signals, causing colorization
where there should be none. This colorization can be detected in many types of
”busy” scenes including tiled rooftops, herringbone patterned clothing, leafy
scenery, etc. The most common and visible cross color artifacts are flickering
that occurs at 15 Hz rate, flashing colors or rainbow patterns. The artifact
can be eliminated in still images by using temporal averaging of the chroma
signals, the same methodology that is used in a 3-D comb filter. However, this
cannot be done wherever there is motion because of the motion artifacts
created, just as with deinterlacing using field weaving. Genesis‘s
Faroudja-based Cross Color Suppression uses the motion detector to selectively
perform the temporal filtering only where there is no motion in the image and
to use the already existing frame memory for the chroma storage required. Even
cross-color that has been encoded onto a DVD recorded from a composite source
can be suppressed using this technology.
Aspect Ratio Conversion
Aspect Ratio
Conversion is used to fit images on displays with different aspect ratios while
best preserving the correct aspect ratio of the image. NTSC content, including
TV, DVD, Camcorder and video games typically has an aspect ratio of 4X3.NTSC
content can be shown on a 16X9 display using various forms of conversion,
including Pillar boxing, Zoom and Non-Linear, referred to as Anamorphic or
Panoramic. Genesis‘s Faroudja technology varies aspect ratio and picture position
to handle traditional 4 by 3 aspect ratio sources and the wider 16 by 9 HDTV
aspect ratio on a variety of display types and video formats.
DisplayPort
DisplayPort is the new high bandwidth digital interconnect standard proposed
by Genesis together with ATI, Dell, HP, NVIDIA, Philips, Samsung, Tyco, and
Molex through VESA, the Video Electronics Standard Association. DisplayPort
greatly simplifies connectivity for streaming media from IC to IC, within a
system and from system to system. DisplayPort allows streaming up to six high
definition TV channels simultaneously in the same number of wires that current
standards require in order to only handle one high definition TV stream.
DisplayPort will also enable this same simplicity and capability in notebook
PCs and other applications. Genesis is actively preparing products that support
this standard.
LCD MONITOR CONTROLLERS
Liquid crystal display (LCD) monitors have today become the most widely used
display technology for PC monitors. They offer vivid, sharp images at price
points that compete with older cathode ray tube (CRT) technology. Genesis is
the leading supplier of the video processors used in LCD monitors. Genesis
chips include patented advanced imaging technology providing superior video
quality in flexible and cost-effective LCD monitor designs.
Application
Mainstream
LCD
Monitor
Performance
LCD
monitor/
Entry MFM
High End
MFM
Premium
LCD
Monitor
Flagship
LCD
Monitor
FLAT PANEL TV CONTROLLERS
Flat-panel displays are becoming the common television sold today. Genesis
leads the flat-panel TV controller industry today with its patented and Emmy
award-winning Faroudja video processing technologies that were developed for
the high-end home theater market. Genesis offers a comprehensive portfolio of
TV controller solutions featuring DCDi® by Faroudja, Faroudja DCDi Cinema™ and
Faroudja DCDi Edge™ technology suites that provide video enhancement, format
conversion and crisp, clear images for flat-panel televisions.
High-end LCD and PDP TVs
Mainstream LCD and PDP TVs
Mainstream LCD and PDP TVs
Progressive CRT TVs
Multimedia LCD monitors
Progressive Scan TVs/LCD TVs
DLP, LCD and LCOS Front and Rear Projection
DLP, LCD and LCOS Front and Rear Projection
DLP, LCD and LCOS Front and Rear Projection
Video Display Systems
LCD TVs
HD Ready TV/HDTVs
High-end MFM LCD monitors
DVD RW and PVRs
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MFM applications
MFM LCD monitors
MFM LCD monitors
Notebook PCs
LCD TVs/Digital Projectors
DIGITAL TV CONTROLLERS
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Decoder Geographic Support
Supported for ATSC/DVB regions
Video Decoder
MPEG-2 MP@HL / MP@ML (ISO 13818-2)
Audio Decoder
Dolby Digital (AC3), MPEG 1 Layer 2, MP3 plus others
Conditional Access
OpenCable (DES) and DVB-CI
Input Capture
1080P
Input
Dual Transport or Program Stream
Sales Overview
The sales and marketing personnel work closely with customers, industry
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offices in their region to make it easier for they to do business with them.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.82 |
|
UK
Pound |
1 |
Rs. 86.37 |
|
Euro |
1 |
Rs. 59.36 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
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 |