MIRA
INFORM REPORT
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Report Date : |
20th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
NEXUS
INCORPORATION |
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Registered Office : |
Office
No. 4, Amirut Complex, Near Hotel Kuber Classic, Dr. Yagnik Road, Rajkot –
360 002, Gujarat, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1999 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Subject
is engaged in the business of Offshore Software and Application Development;
hold a strong technology background providing web based and software
applications including custom web application, customized software, core
banking solutions, ERP development, software testing, mobile applications,
mobile games, technical consultancy, etc.
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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
40000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are reported as
usually correct and as per commitments. The concern can be considered normal
for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Office
No. 4, Amirut Complex, Near Hotel Kuber Classic, Dr. Yagnik Road, Rajkot –
360 002, Gujarat, India |
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Mobile No.: |
91-9824127020 |
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E-Mail : |
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Website : |
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Area : |
2000
sq. ft |
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Location : |
Owned |
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Head
Office : |
Office
No. 4, Amirut Complex, Near Hotel Kuber Classic, Dr. Yagnik Road, Rajkot –
360 002, Gujarat, India |
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Mobile
No.: |
91-9824127020 |
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E-Mail
: |
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Area : |
2000
sq. ft |
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Location : |
Owned |
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Godown
: |
Office
No. 4, Amirut Complex, Near Hotel Kuber Classic, Dr. Yagnik Road, Rajkot –
360 002, Gujarat, India |
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Mobile
No.: |
91-9824127020 |
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E-Mail
: |
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Area : |
2000
sq. ft |
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Location : |
Owned |
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|
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Software
Centre : |
Office
No. 4, Amirut Complex, Near Hotel Kuber Classic, Dr. Yagnik Road, Rajkot –
360 002, Gujarat, India |
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Mobile
No.: |
91-9824127020 |
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E-Mail
: |
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Area : |
5000
sq. ft. |
SOLE PROPRIETOR
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Name : |
Mr.
Harsh Savani |
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Designation : |
Sole
Proprietor |
KEY EXECUTIVES
|
Name
: |
Mr.
Priyal |
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Designation
: |
Chief
Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of Offshore Software and Application Development;
hold a strong technology background providing web based and software
applications including custom web application, customized software, core
banking solutions, ERP development, software testing, mobile applications,
mobile games, technical consultancy, etc.
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Products : |
®
Offshore
Software ®
Application
Development ®
Custom
Web Application ®
Customized
Software ®
Core
Banking Solutions ®
ERP
Development ®
Software
Testing ®
Mobile
Applications ®
Mobile
Games ®
Technical
Consultancy |
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Exports to : |
USA,
UK, Canada and Australia |
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Imports from : |
Europe, USA and Japan. |
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Terms : |
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Selling : |
On
L/C, Cash / Advance and Credit upto 30 days basis. |
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Purchasing : |
On
Advance, L/C and Bank through |
GENERAL
INFORMATION
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No. of Employees : |
Around
35 |
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Bankers : |
State
Bank of Saurashtra, Main Branch, Rajkot – 361 001, Gujarat, India HDFC
Bank, Main Branch, Rajkot, Gujarat, India
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Banking Relations : |
Satisfactory
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Auditors : |
Not
Available |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
10.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs.
10.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
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31.03.2006 |
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Sales Turnover |
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100.000 |
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Profit/Loss for the year |
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10.000 |
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Export Value |
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80.000 |
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Import Value |
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20.000 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2006 |
|
PAT / Total Income |
(%) |
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10.00 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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10.00 |
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Return
on Investment (ROI) (PBT/Networth) |
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1.00 |
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LOCAL AGENCY
FURTHER INFORMATION
Nexus has developed over 300 projects till date based on Web Applications, Custom Software Development, Business Intelligence Software, Mobile Applications, Wireless applications, Handheld Tools and Mobile Games. It provides ongoing development contracts for all kind of custom software and applications.
Software designed and written by Nexus are in daily use at approximately 25,000 points around the world.
Subject imports components and spares from reputed Manufacturers.
Subject Exports complete Outsourcing / Offshore developing
services for Custom
Software Application to clients.
Profile
Nexus
Incorporation is a Offshore Software and Application development Company, he
hold a strong technology background providing web-based and software
applications including Custom Web Applications, Customized
Software, Core Banking Solutions, ERP Development, Software testing, Mobile
Applications, Mobile Games, technical consultancy.
Founded
in 1999, Nexus has developed over 300 projects till date based on Web
Applications, Custom Software Development, Business Intelligence Software,
Mobile Applications, Wireless applications, Handheld Tools and Mobile Games.
They provide ongoing development contracts for all kind of custom software and
applications.
They are
well established and trusted Offshore Technology Development Company.
Experienced team works 24 hours for clients on customized requirement's and solutions
based on required technologies.
They are
geared to provide development solutions on major technologies in web and
software industry. It at Nexus strives to achieve 100% client satisfaction at
every time by maintaining excellence in application development through
continuous involvement & interaction with client & cost effective
pricing. They surely mean 70% cost effective pricing compared to any other
developing partners in India.
Strategic
goal is to provide high quality technology solutions that provide practical
cost effective and value-added solutions to our client's. The offerings of the
company are focused on leveraging the core competencies of the organization.
Nexus
Incorporation is a Global Technology Company. They provide excellent outsourcing
services in areas of Software
Development, custom
software tools, Mobile Applications and Ecommerce-web
applications, web designing and CMS.
With a
team of talented and dedicated individuals they have proven ourselves in
developing complex software solutions and web application development. World
class Quality and cost effectiveness of solutions allows to provide an
outsourcing service to existing and upcoming software agency and web agecny
across the globe.
They
deliver development and consultancy services for building customized software
on Windows and Linux Platforms, Customized web applications, Ecommerce
Applications, Mobile Games, Pc Games, Telecommunication software, Pocket Pc
applications and Software Testing.
They
provide solutions on various platforms like PHP, PHP-5, Mysql, Mssql, Oracle, Perl, Java, J2ee, J2me, JSP, C#, C,
VB, ASP, .Net, Bluetooth, Symbian, 3D Max, Delphi.
They
have strong expertise in developing
Ecommerce Applications, Software applications, Mobile Games, Pc Games, Pc
utility softwares, Customized software tools on Windows and Linux Platforms,
Financial software, healthcare softwares and many other customized
requirements.
They
design and develop complex requirement and make it easy for at excellent cost
saving Pricing Modules.
They
help to solve complex issues on Teleconferences - Voice chat - Online support
while developing complex portion of your valuable Projects.
They
know your customized requirements, they understand your requirement and deliver
your required solutions perfectly.
They Provide:
1.
Source codes of the Projects after development
2.
Technical Documentation for usage of Application / Project
3.
Required Modification during ongoing development of Project
Testimonials
from Clients
1.
I just wanted to express how happy they
are at our organization for all the help they have been given designing and
building web site, along with all the other related software. Since
collaboration with the company, they have become a much more streamlined operation,
giving us more time to spend with clients.- Steve
2.
."The Web site marketing, coupled with the ease of our administrative
duties based on your software, has increased the number of guests 23% over last
year. Of even greater impact is the amount of time saved so we can better serve
those who come to us for help. Your expertise and advice in regard to search
engine placement has increased not only our client base, but our bottom line as
well. "Again, thank you for the help, and I look forward to a long
business relationship with all of you at Nexus Inc.—Brian
3. Their
level of commitment was impressive and today we are joined by a shared sense of
pride in the final result which receives accolades from many of our customers.
– Mark
4. A
brilliant job, done by brilliant people - we'll definitely be working with you
again"- Christine.
5. Since
going online, we have seen significant growth in our sales. We have received
much positive feedback via e-mail regarding the website. -- Ronaldo
6. Nexus
Software was chosen because of their proven experience in enabling mobile
operators offer secure transaction capability to subscribers. The combination
of domain experience from Nexus Inc Software and SIM card
and integration skills from SchlumbergerSema has proved to be successful for
this deployment. We expect that our subscribers will appreciate the commitment
that Connex continues to show by offering them state-of-the-art innovative
services. –Shiela
7. Our relationship with Nexus Software has been in place for the
past two years, and we were delighted to ask them to work with us on
redeveloping and expanding the Vodafone Online Store. The relaunch of the
Online Store further extends our leadership in this area and will bring greater
convenience and choice to our customer base -- Antony
8. Nexus Software demonstrated a clear understanding of our business case for providing such services to our clients. They met our demanding technical requirements and worked very well with all the other parties involved to deliver the required solution. – John
Subject offer following
services:
1. web design & development
2. Flash & Multimedia Presentations
3. Interactive e-business solutions (b2b & b2c)
4. Portal / Vortal development & consultancy
5. Client server software development
6. Web Promotion & Marketing
7. Web community development solutions
Subject work on following
skills:
1. Design: Graphics creation, animation,
& multimedia
2. Authoring: HTML, DHTML, CSS, XML
3. Scripting: ASP,PHP, JSP, Cold Fusion, Perl, WML, XSLT,DELPHI, PALM
4. Databases: MS Acces, MSSQL, My Sql, Postgre SQL, Oracle
5. Languages: Visual Basic, Java, C & C++, Clipper
6. Technologies: J2EE, .Net, XML, WAP, PHP-5, Asp
7. OS: Windows, Linux, Unix
8. Proprietary tools for web promotion
PHP Development
Nexus Incorporation is a Indian leader in
software development and application development. They are in business since a
decade, work with a mission to deliver niche software application at all the
times. If they you are looking for technology partner to work on complex needs
of ERP development, they are here to serve you.
Nexus Incorporation designs and develops robust ERP software solutions
for virtually all industries including in-house (vertical market) and retail
software, some of which is on the shelves at your local software store. They
focus unique combination of creative, technical, and problem-solving skills on
meeting client's objectives. Because of clarity of purpose, commitment to
process, and broad professional skill sets, they are able to provide clients
with world-class solutions that are functionally superior and fully aligned
with our client's strategic focus. The team brings proven credentials, key
vendor relationships, and with real-world expertise to bear on your technology
challenges.
They consult on high technology and for all
sizes of companies and offer a Pool of development services, Nexus has
extensive hands-on industry, consulting and technical expertise in developing
ERP application.
The team members are experienced in all
areas of ERP development- Tools, Finance, Manufacturing, Sales, Distribution,
Projects, Supply Chain, Exchange, EDI, DEM, Front Office. They are in pace with
emerging technologies such as E-Commerce add-ons and third party reporting
software.
At Nexus enterprise resource planning (ERP)
are being developed with difference, we understand values of your resources and
planning to make your company's future bright. They create INTELLIGENT
APPLICATIONS which helps client.
With our extensive experience, skilled
personnel and global infrastructure we offer a service that not only provides
Enterprise Application Management and Hosting but also supports innovation,
saves operating costs and optimises your investment.
Subject help
clients to get :
1.Better meet
the rapidly changing needs of their business
2.Free up their resources for more strategic projects
3.Benefit from knowledge gained from other customers
4.Reduce the risks associated with staff turnover and accelerating costs
5.Lower the risk of disruption to business critical applications
6.Expand business management & financial options
Nexus have a long history of managing
clients’ business critical applications on a global scale and operates
dedicated support centres 24x7 for all applications. Whatever application or
combination of applications are running, they will optimise environment in
support of your business goals.
Contact
Registered Office
Office No. 4, Amirut Complex, Near Hotel
Kuber Classic, Dr. Yagnik Road, Rajkot – 360 002, Gujarat, India
Mobile No.: 91-9824127020
Email : info@nexus-nettech.com
nexusincorporation@hotmail.com
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.44.99 |
|
UK
Pound |
1 |
Rs.85.34 |
|
Euro |
1 |
Rs.57.63 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--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 |
|
45 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|