MIRA
INFORM REPORT
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Report Date : |
09.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ADCC INFOCAD PRIVATE LIMITED |
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Formerly Known As : |
ADCC CAD TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
10 / 5, I.T. Park, Nagpur – 440 022, Maharashtra |
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Country : |
INDIA |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.05.1998 |
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Com. Reg. No.: |
11-114790 |
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CIN No.: [Company
Identification No.] |
U72300MH1998PTC114790 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject provides “Total Solution” in Engineering Services, Geographical
Information System, Management Information System, CAD Conversion,
Geo-spatial Solutions and Utility Application Software Development Services. |
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 70000 |
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Status : |
Satisfactory |
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Payment Behavitheir : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered/Head Office : |
10 / 5, I.T. Park, Nagpur – 440 022, Maharashtra. |
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Tel. No.: |
91-712-2249605 |
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Fax No.: |
91-712-239163 |
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E-Mail : |
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Website : |
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BRANCHES: |
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Mumbai Office : |
ADCC Infocad private limited, 501, Building – 2, Vaishali Nagar., K.
Khadye Marg, Saatrasta, Mahalakshmi (E), Mumbai – 400 011. |
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Raipur Office : |
A – 12, K.K.Road, Raipur (C.G.) |
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Tel. No.: |
91-972114258 |
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E-Mail : |
sanjaymisar@adccinfocad.com |
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Ranchi Office : |
1st floor, Old Telegraph Office Building Near Zanda Chowk,
Doranda, Ranchi-2. |
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Tel. No.: |
91-9431352482 |
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U.A.E. Office : |
P.O.Box 293643 Dubai Airport Free Zone Dubai, UAE |
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Tel. No.: |
+9715044020401 |
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U.S.A. Office : |
ADCC Solutions; 14777 NE 40th ST, Suite# 203, Bellevue, WA
98007 |
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Tel. No.: |
1 425 867 1350 |
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E-Mail : |
contact@adccsolutions.com |
DIRECTORS
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Name : |
Mr. Sagar D Meghe |
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Designation : |
Managing Director : Chairman |
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Address : |
135, Pandey Layout, Nagpur. |
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Date of Birth/Age : |
03.05.1970 |
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Date of Appointment : |
09.09.1998 |
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Name : |
Mr. Dhananjay V Gawande |
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Designation : |
Director |
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Address : |
18, Gawande Layout, Nagpur. |
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Date of Birth/Age : |
25.06.1961 |
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Date of Appointment : |
05.05.1998 |
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Name : |
Mr. Rajay V Surana |
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Designation : |
Director |
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Address : |
Surana Bhavan, Sadar, Nagpur |
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Date of Birth/Age : |
01.10.1964 |
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Date of Appointment : |
09.01.1999 |
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Name : |
Mr. Sameer D Meghe |
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Designation : |
Director |
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Address : |
135, Pandey Layout, Nagpur. |
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Date of Birth/Age : |
12.02.1978 |
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Date of Appointment : |
30.09.2002 |
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Name : |
Mrs. Devika S Meghe |
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Designation : |
Director |
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Address : |
135, Pandey Layout, Nagpur. |
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Date of Birth/Age : |
06.08.1972 |
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Date of Appointment : |
30.09.2002 |
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Name : |
Mrs. Vrinda S Meghe |
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Designation : |
Director |
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Address : |
135, Pandey Layout, Nagpur. |
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Date of Appointment : |
30.09.2002 |
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Name : |
Mr. Amit Somani |
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Designation : |
Director |
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Name : |
Mr. Shekhar D Bhole |
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Designation : |
Director (Technical) |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr.Gawande Dhanajay V. |
18000 |
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Mr. Vijay Surana jointly with Mrs. Nirmala Surana |
37500 |
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Mr. Rajay Surana jointly with Mrs.Sunita Surana |
37500 |
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Mr. Anil Parakh jointly with Mrs. Varsha Parakh |
75000 |
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Mr. Sameer Meghe |
141000 |
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Mr. Sagar Meghe |
134997 |
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Mrs. Devika Meghe jointly with Mr. Sagar Meghe |
145500 |
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Mrs. Vrinda Meghe jointly with Mr. Sameer Meghe |
145500 |
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Mr. Sagar Meghe jointly with Mrs. Devika Meghe |
10500 |
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Mr. Sameer Meghe jointly with Mrs. Vrinda Meghe |
4500 |
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Mr. Meghe Dattatray |
3 |
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M/S Trebble Trading Investment Pvt. Ltd. |
250000 |
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Total |
1000000 |
BUSINESS DETAILS
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Line of Business : |
Subject provides “Total Solution” in Engineering Services,
Geographical Information System, Management Information System, CAD
Conversion, Geo-spatial Solutions and Utility Application Software
Development Services. |
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Product : |
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GENERAL
INFORMATION
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No. of Employees : |
About 25 |
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Bankers : |
Oriental Bank of Commerce; Kingway, Nagpur – 440 001. |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
B. J. BAJAJ AND COMPANY. Chartered Accountants |
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Address : |
54, The Park Residency, Khare Town, Dharampeth, Nagpur, Maharashtra –
MH ISO Code – IN ; PIN Code – 440 010. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15,000,000 |
Equity Share Capital |
Rs.10/-each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Share Capital |
Rs.10/-each |
Rs.10.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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STHEIRCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
10.000 |
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2] Share Application Money |
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3.600 |
0.000 |
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3] Reserves & Surplus |
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3.837 |
3.787 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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17.437 |
13.787 |
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LOAN FUNDS |
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1] Secured Loans |
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13.898 |
12.040 |
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2] Unsecured Loans |
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1.150 |
1.000 |
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TOTAL BORROWING |
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15.048 |
13.040 |
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DEFERRED TAX LIABILITIES |
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0.969 |
1.063 |
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TOTAL |
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33.454 |
27.890 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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15.242 |
11.419 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000
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0.000 |
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Sundry Debtors |
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14.843
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16.902 |
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Cash & Bank Balances |
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0.229
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1.092 |
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Other Current Assets |
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0.708
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0.460 |
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Loans & Advances |
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7.456
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2.164 |
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Total
Current Assets |
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23.236
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20.618 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.596
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2.681 |
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Provisions |
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1.469
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1.490 |
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Total
Current Liabilities |
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5.065
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4.171 |
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Net Current Assets |
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18.171
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16.447 |
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MISCELLANEOUS EXPENSES |
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0.041 |
0.024 |
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TOTAL |
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33.454 |
27.890 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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28.197 |
23.121 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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28.197 |
23.121 |
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Profit/(Loss) Before Tax |
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0.000 |
0.000 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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198.65 |
113.25 |
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Earnings in Foreign Currency : |
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Export Earnings |
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1.365 |
0.000 |
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Total Earnings |
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1.365 |
0.000 |
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Expenditures : |
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Interest |
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1.327 |
1.397 |
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Depreciation & Amortization |
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1.301 |
1.244 |
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Other Expenditure |
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25.370 |
20.367 |
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Total Expenditure |
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27.998 |
23.008 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.85 |
0.48 |
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Net Profit Margin (PBT/Sales) |
(%) |
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70.45 |
489.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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516.26 |
383.49 |
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Return on Investment (ROI) (PBT/Networth) |
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11.39 |
8.214 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.15 |
1.25 |
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Current Ratio (Current Asset/Current Liability) |
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4.59 |
4.94 |
LOCAL AGENCY
FURTHER INFORMATION
Subject is a central India based Engineering and IT services company providing “Total Solution” in Engineering Services, Geographical Information system, Management Information System, CAD conversion, Geo-spatial Solutions and Utility Application Software development services to clients in India and the world. Belonging to Meghe Group
.
Their strategic partnership with Autodesk Inc, the world’s leading Design Content company for Sales and Support of their products in the CAD / GIS segment as Autodesk Authorised Value Added Reseller, gives us a cutting edge over their competitors.
Their policy is to achieve excellent standards of quality in all geographical information services, Autodesk product sales & services offered to their customers.
THEIR PHILOSOPHY:
The
main objective of the company as a whole, is to strive to exceed customer
satisfaction by creating a strong customer focus, involvement of all the
people, improvement in service quality and timely delivery of their products
& services.
The Company was incorporated in the year 1994 to infuse technology in the Central India. Moving up the ladder briskly, the company developed competencies in GIS services. The clientele grew not only in Central part of the country but nationwide. Over the last few years, the company crossed the national boundaries and successfully catered to the international clients. The company saw the future growth in several engineering segments and built up the team accordingly. The Thematic Mapping division was the natural extension to their services so was the Photogrammetry division. Recently, the company has ventured into the Architectural and Engineering Services. The company renders the architectural and structural design and drafting solutions to the building and infrastructure industry. Is an ISO 9001:2000 Certified Company Based in Nagpur, the company boasts of state of the art infrastructure including a 10,000 square feet built up area for development. With a manpower strength exceeding 180, they are in a position to execute large-scale GIS projects on a turnkey basis. This is substantiated by some of the projects that they have executed in the areas of Land Records, Telecom Sector, Remote Sensing Organisations etc. In order to achieve “Total Solution Provider” status they have entered into strategic partnership with AutoDesk Inc. one of the leading GIS vendors across the globe. The partnership is for Sales and Support of their products in Maharashtra, Madhya Pradesh and Chhatisgarh states. Being an AutoDesk System Center for GIS gives us a cutting edge over other competitors. Besides, they are also empanelled with premier Government Organizations and Public Sector Units.
The company’s philosophy is based on total customer satisfaction and with this view they have successfully executed & implemented projects.
DIRECTORS PROFILE:
Sagar Meghe :
Chairman & Managing Director of the company and is instrumental in providing the company with a Vision… He holds a variety of top managerial positions in the Meghe group of companies having diverse interests in the fields of Education, Mining, Poultry etc. He is the founder of this company and values it close to his heart.
Shekhar Bhole :
Director – Technical and is the backbone of all the operational aspects of projects. Having a Masters in Structural Engineering, he has a wide exposure to the Architectural & Building segment. Over 22 years of experience as a faculty in a Technical Institute as well as field knowledge gives him a clear understanding of the subject matter.
Amit Somani :
Director - A Chartered Accountant by Profession having more than 5 years of experience in the field of accounts
and financial management and is actively involved in strategic budgeting, MIS and financial planning of the entire group companies.
Abhay Kimmatkar :
Vice President – A Senior member in the Management with over 10 years of professional experience in Business Management for the Group. An MBA with degree in Electronics Engineering is associated with the company since its inception
Jitendra Deshpande :
General Manager (Business Development) with over 13 years of extensive Sales & Marketing exposure. Has a degree in Civil Engineering and holds a postgraduate MBA degree in Marketing. Has been associated with the CAD & GIS industry for over 8 years and worked in responsible positions in various large corporates.
Nikhil Dakshindas :
General Manager – Operations and is in-charge of the overall technical team. A Civil Engineer with an MBA in Operations Management, he has over 10 years of exposure to CAD related industry.
Rahul Johrapurkar :
Deputy General Manager – Technical and is in-charge of supervising all production related issues… Has the primary responsibility of managing project schedules as well as quality parameters. A degree in Instrumentation Engineering is best suited for the CAD industry. A total experience of 10 years +, out of which over 3 years in the Middle East working with multinational company Honeywell.
Adarsh Raut :
Deputy General Manager – Software is an Engineer by qualification, supervises the software development and evolution of applications specific to GIS, large volume data management, theyb development, etc.
Alliances :
- Autodesk
- Click
Technologies Inc.
Products:
As a worldwide design restheirce, Autodesk helps over 4,000,000 design
professionals in over 160 countries model, make, manage, and market their
designs—from hotels, highways, office buildings, and elevators to Academy
Award-winning special effects and utility district electrical plans. They
provide a broad range of totally integrated, interoperable solutions that
combine innovative Internet, mobile, and wireless technologies with
industry-leading design software and industry-specific online marketplaces.
Through them, they unite the entire design process, helping companies connect,
design, compete, and succeed—in Internet time .
Authorization :
They also provide sales and support for
software solutions from Autodesk Inc.,USA. They are the only GIS partners of
Autodesk for Maharashtra and Madhya Pradesh.
AutoCAD
:
Design, visualize, and document ytheir ideas clearly and efficiently
with AutoCAD® software. From conceptual design through drafting and detailing,
AutoCAD 2007 enables you to explore ideas like never before.
Autodesk
Map :
Autodesk Map® 3D software, the leading
platform for creating and editing spatial data, delivers practical mapping
functionality to organizations that need to integrate CAD and GIS information.
AutoDesk®
Land Desktop :
Autodesk®Land Desktop include powerful and
intuitive tools that let you create and label survey points, define and edit
parcels and roadway alignments, automate drafting procedures, create terrain
models and calculate volumes and conttheirs.
AutoDesk®
Raster Design :
Whatever raster images ytheir projects
require—scanned paper drawings, maps, aerial photos, or satellite images—Autodesk®
CAD Overlay® is ytheir solution for precision integration of image data.
AutoDesk®
Civil Design :
AutoDesk® Civil Design provide tools to
automate the engineering and analysis tasks associated with typical civil
engineering. It enhances the collaborative work environment transportation
engineering and site development.
AutoDesk®
Architectural Desktop :
AutoDesk® Architectural Desktop has all the
tools of AutoCAD® software. Alongwith this you can also create a building model
with intelligent architectural objects that behave according to the real-world
properties.
AutoDesk®
InventorSeries :
AutoDesk® InventorSeries includes Autodesk®
Mechanical Desktop,based on AutoCAD® software and AutoDesk® Inventor, the new
paradigm in 3d design for the manufacturing industry. Facilitatse you to Design
Without Limits.
AutoCAD
LT® :
AutoCAD LT® is totally compatible with "DWG" drawing files
from AutoCAD based products, includes an internet toolset for streamlined
collaboration and incorporates timesaving drawing tools.
Autodesk® Civil 3D® 2007 software is a powerful, mature, civil
engineering application that uses an industry-proven dynamic engineering model to
significantly increase productivity, save time, and decrease costs.
Rapidly develop and deploy valuable spatial applications using Autodesk
MapGuide® Enterprise, an advanced, flexible, and powerful platform from
Autodesk that adds support and extended functionality to core open stheirce
components
Work naturally, design with freedom, and improve ytheir business with
Autodesk® Revit®Building 9 software, the state-of-the-art building information
modeling (BIM) system that works the way you think.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheirces
including but not limited to: The Ctheirts, 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] Ctheirt 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 :
Their
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.
Their 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.43.15 |
|
UK Pound |
1 |
Rs.85.22 |
|
Euro |
1 |
Rs.57.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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--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 |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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
unfavtheirable 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 |
Unfavtheirable & favtheirable 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, they have no basis upon which to
recommend credit dealings |
No Rating |
|