MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION DETAILS
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Name : |
SOLITON
TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known As : |
SOLITON AUTOMATION
PRIVATE LIMITED |
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Registered Office : |
1st
Floor, 1547, Classic Tower, Trichy Road, Coimbatore – 641018, Tamil Nadu,
India |
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Country
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India |
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Financials
(as on) : |
31.03.2006 |
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Date of Incorporation : |
18.12.1997 |
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Com. Reg. No.: |
008220 |
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CIN
No.: [Company
Identification No.] |
U72200TZ1997PTC008220 |
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IEC No. |
3297024411 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
BLRS22079B |
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PAN
No.: [Permanent
Account No.] |
AAECS6257N |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer and
Exporter of Machine Vision Cameras |
RATING
& COMMENTS
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MIRA’s Rating : |
B |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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Maximum Credit Limit : |
USD 120000 |
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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 : |
Financial position of
the company can be regarded as moderate having accumulated losses of Rs 1.500
Millions Its payments are
reported as slow and delayed The company can be
considered for small to mediocre business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office: |
1st
Floor, 1547, Classic Tower, Trichy Road, Coimbatore – 641018, Tamil Nadu,
India |
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Tel. No.: |
91-422-2302374 |
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Fax No.: |
91-422-2302375 |
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E-Mail : |
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Website : |
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Location: |
Rented |
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Head Office : |
No. 683, II Floor,
15th Cross Road, J. P. Nagar II Phase, Bangalore – 560078,
Karnataka |
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Tel. No.: |
91-80-51208600 |
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Fax No.: |
91-80-51208700 |
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E-Mail : |
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Website : |
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Area
: |
9000 sq. fts.
(Leased) |
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Factory 1 : |
No. 683, II Floor,
15th Cross Road, J. P. Nagar II Phase, Bangalore – 560078,
Karnataka |
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Branches : |
17152-C, W
Bluemound Road, 123, Brookfield, WI 53005 Milwakee, USA |
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Tel. No.: |
262-7800962 |
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Fax No.: |
262-3642635 |
DIRECTORS
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Name : |
Mr. Ganesh Devaraj |
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Designation : |
Chairman cum
Managing Director |
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Address : |
638, 14th
Cross, 8th Main, J P Nagar, 3rd Phase, Bangalore –
560078, Karnataka, India |
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Date of Birth/Age : |
17.03.1968 |
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Qualification : |
Ph.D. MS (Electric
Engineer) |
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Experience : |
8 years |
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Date of Appointment : |
12.07.1999 |
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Name : |
Mr. Anand Prasad
Chinnasamy |
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Designation : |
Director |
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Address : |
E-306, Brigade
Millenium, J P Nagar, 7th Phase, Bangalore – 560078, Karnataka,
India |
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Date of Birth/Age : |
40 years |
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Qualification : |
B. E., M. S. |
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Experience : |
12 years |
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Date of Appointment : |
01.09.2000 |
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Name : |
Mrs. Mekhala
Devaraj |
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Designation : |
Director |
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Address : |
638, 14th
Cross, 8th Main, J P Nagar, 3rd Phase, Bangalore –
560078, Karnataka, India |
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Date of Birth/Age : |
16.07.1968 |
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Qualification : |
M. S. |
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Experience : |
5 years |
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Date of Appointment : |
09.06.1999 |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
Number of Shares |
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Mr S Devaraj |
1500 |
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Mrs Sugantha Devaraj |
1500 |
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Mr Ganesh Devaraj |
2000 |
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Mrs Mekhala Ganesh Devaraj |
1500 |
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Mr Rajesh Devaraj |
1500 |
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Mr R Balasubramaniam |
2000 |
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Category of Shareholders |
Percentage of Holding |
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Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS
DETAILS
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Line of Business : |
Manufacturer and
Exporter of Machine Vision Cameras |
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Products : |
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Brand Names : |
Soliton |
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Exports to : |
USA |
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Imports from : |
USA |
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Terms : |
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Selling
: |
Credit (30 days) |
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Purchasing
: |
Credit (30 days) |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
64 |
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Bankers : |
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Facilities
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Non Fund Based :
Rs. 5.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Deloitte Haskins
and Sells Chartered
Accountants |
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Address : |
Shanmugha Manram,
41, Race Course, Coimbatore – 641018, Tamil Nadu, India |
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Tel. No.: |
91-422-5392801/802/803 |
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Fax No.: |
91-422-2218615 |
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E-Mail : |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs.
10/- each |
Rs.
1.000 millions |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs.
10/- each |
Rs.
0.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
9.190 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
17.956 |
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4] (Accumulated Losses) |
(1.558) |
(0.477) |
0.000 |
NETWORTH
|
(1.058) |
0.023 |
27.146 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
6.704 |
13.855 |
0.000 |
TOTAL BORROWING
|
6.704 |
13.855 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.591 |
0.666 |
0.032 |
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TOTAL
|
6.237 |
14.543 |
27.178 |
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APPLICATION OF
FUNDS
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FIXED ASSETS [Net
Block]
|
3.411 |
4.578 |
2.672 |
Capital
work-in-progress
|
0.000 |
0.000 |
0.000 |
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INVESTMENT
|
0.000 |
0.000 |
0.500 |
DEFERREX TAX
ASSETS
|
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS,
LOANS & ADVANCES
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Inventories
|
0.608
|
0.608 |
0.500
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Sundry Debtors
|
0.533
|
2.443 |
5.823
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Cash & Bank
Balances
|
0.567
|
1.256 |
4.020
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Other Current
Assets
|
0.576
|
5.047 |
0.000
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Loans &
Advances
|
0.598
|
0.912 |
17.385
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Total
Current Assets
|
2.882 |
10.266 |
27.728 |
Less : CURRENT LIABILITIES & PROVISIONS
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Current
Liabilities
|
0.305
|
0.598 |
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Provisions
|
0.001
|
0.077 |
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Total
Current Liabilities
|
0.306 |
0.675 |
3.911 |
Net Current Assets
|
2.576 |
9.591 |
23.817 |
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MISCELLANEOUS
EXPENSES
|
0.250 |
0.375 |
0.189 |
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TOTAL
|
6.237 |
14.544 |
27.178 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2004 |
Sales Turnover
[including other income]
|
|
|
24.206 |
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Profit/(Loss)
Before Tax
|
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|
5.895 |
Provision for
Taxation
|
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|
0.112 |
Profit/(Loss)
After Tax
|
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|
5.783 |
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Total Expenditure
|
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|
17.778 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2004 |
PAT / Total Income
|
(%)
|
NA
|
NA |
23.89
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Net Profit Margin
(PBT/Sales) |
(%) |
NA
|
NA |
24.35
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Return on Total
Assets
(PBT/Total Assets} |
(%) |
NA
|
NA |
19.39
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Return on
Investment (ROI)
(PBT/Networth) |
|
NA
|
NA |
0.22
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Debt Equity Ratio
(Total Liability/Networth) |
|
(6.62) |
631.74 |
0.14
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Current Ratio
(Current Asset/Current Liability) |
|
9.41 |
15.21 |
7.08 |
LOCAL
AGENCY FURTHER INFORMATION
History:
Subject was
incorporated on 18th December, 1997 under the name of “Solution
Automation Private Limited”, its name was changed to present from 29.01.2004.
Subject has
transferred its register office from Coimbatore (8220) to Karnatak (08-36849)
w.e.f. 26.07.2005
Business:
Subject exports Lad
View Software and Virtual Instrumentation Software to USA.
Subject is in trade
terms with the following:
- Cal-Bay Systems, Inc.
- V. I. Engineering, Inc.
- NI Systems India Private Limited
Jayaram
Pillai, Managing Director,
Prestige
Pinnacle # 113, 7th Block,
Koramangala, Bangalore – 560095
Tel.:
91-80-51190000
Email:
jayaram.pillai@ni.com
- Apna Technologies & Solutions
Private Limited
Baskar
Ceri, Managing Director,
Coconut
Garden Crs, Outer Ring Road, Kalyan Nagar PO, Bangalore – 560043
Tel.:
91-80-25426463
Email
: info@apnagroup.com
Group Companies :
Lucid Imaging Private
Limited
About Company:
A
‘Soliton’ in simple terms is a “never-ending wave”. It occurs very rarely in
nature, but once formed it maintains its shape and form and flows without
dispersion. Unlike a normal wave, a Soliton wave is extremely stable and can
even flow around obstacles and continue on without disintegrating. At Soliton,
Company aims to emulate this ‘indestructibleness’ and ‘togetherness’ of a
Soliton wave.
Soliton is headquartered in Bangalore with a branch office
Coimbatore, India and a 100% subsidiary company in Milwaukee, WI, USA. Soliton
is focused on two technology domains – Machine Vision products and Offshore
Test and Measurement Services. Soliton is an alliance member of National
Instruments since its inception and has the most experienced LabVIEW team in
India. Soliton has perfected a successive model for Offshore Test and
Measurement development and has executed several projects for end users
including Boeing, DaimlerChrysler, Hitachi, Intel, Nortel Networks, etc.
Soliton is also a member of Texas Instruments 3rd party program with its
initiatives in DSP based products.
The
company’s focus has been progressively sharpening on the area of Machine
Vision, which is where most of the new initiatives have been directed. Soliton
is currently working on developing niche products in this technology domain.
Company has a full fledged vision lab equipped with the latest tools for the
efficient development of reliable machine vision solutions. Soliton is
currently developing DSP and FPGA-based products for machine vision.
Company’s
people are company’s biggest assets. Company’s teams has provided numerous
solutions that have won international awards including three ‘Overall Best
Application Awards’ at NI Week Best Application Award Contests, and the prestigious
“Imaging Solution of the Year” award for the year 2004. Company’s work has also
been well recognized by international journals and magazines which have
published several articles based on company’s solutions.
Company
Soliton
started its operations in Coimbatore in 1998 as a Test and Measurement Company.
Company has been growing consistently at an average compounded annual growth
rate of 70%. Company moved their headquarters to Bangalore in 2004 and changed
the name from 'Soliton Automation' to 'Soliton Technologies' to reflect the
core focus on Technology. Today Soliton is focusing on two core areas –
Products for vision and Offshore LabVIEW services, primarily catering to the US
market.
Soliton
has the largest and most experienced LabVIEW team in India. Soliton has
perfected the offshore development model for Test and Measurement Services.
Company’s products division is developing innovative products in the vision
domain that include an international award winning ‘Adaptive Assembly Inspection
Software’.
Soliton’s
continuing growth and success is primarily a result of company’s culture
(values) and people (talent). Company is strongly committed to working towards
building a highly recognized global brand that stands for Integrity, Innovation
and Excellence
Core
Values
A Soliton in simple terms is an "indestructible
wave". It occurs very rarely in nature, but once formed it maintains its
shape and form and flows without dispersion. It is an extremely stable wave
that can flow around obstacles, regain its original shape and continue flowing
unaltered. At Soliton Company is trying to emulate these extraordinary
properties of the Soliton wave.
Company
equates its core values of Integrity and Excellence to the unchanging form of the
Soliton wave. Integrity comes from company’s unwavering focus on building
company’s character and competence, and excellence from company’s continuous
efforts at delivering world-class quality on time, every time to our customers
The people at Soliton and the company's policies and actions
are guided by the following core values
Integrity
Integrity
is an absolute requirement of each and every person in the company in all
dealings with each other, customers, partners, and suppliers.
Excellence
Each
person in Soliton is guided by the need to meet the highest level of excellence
in every activity. Company’s people give nothing less than their best to help
each individual and the company realize their full potential.
People
Senior
Team
Dr.
Ganesh Devaraj, the Managing
Director and CEO, received his bachelor's degree in Electronics and
Communications Engineering from the PSG College of Technology, Coimbatore, and
thereafter went to the University of Michigan, Ann Arbor and obtained an M.S.
in Electrical Engineering (Solid State and Optics) and a Ph.D. in Theoretical
Particle Physics. He worked at V I Engineering in Michigan, a National
Instruments Alliance Member, as a Project Scientist before returning to India
to start Soliton. He is primarily responsible for the Offshore Software
Business, Finance, Marketing, and Quality & Systems activities in the
company. He is also personally involved in the recruitment of every member of
Soliton.
He
also serves as a Member of the Board of Directors of ELGI Equipments Ltd.,
Coimbatore, and as a Trustee on the Board of Trustees of PSG and Sons Charities
(which manages the PSG Educational Institutions including the PSG College of
Technology). He has been an active member of the CII Coimbatore Zone serving as
Convenor of the 'IT Panel' and the 'Technology and Innovation Panel' during
2002 and 2003 respectively. He has a special interest in education and is keen
on improving technical education in India's schools and colleges.
Mr.
Anand Prasad Chinnaswamy, Director
& Chief Technology Officer of the company, received his bachelor's degree
in Electrical and Electronics Engineering from the PSG College of Technology,
and holds an M.S. in Electrical Engineering from Clemson University, SC, U.S.A
and an M.S. in Plastics Engineering from the University of Massachusetts,
Lowell, U.S.A.
He
has a total of over 7 years of work experience before joining Soliton in the
year 2000. He worked as a Research and Development Engineer at Analog &
Digital Systems, Bangalore, as a Research fellow at the Semiconductor Research
Corporation, North Carolina, at DuPont Imaging Systems - R&D center, North
Carolina, as a technical consultant at Dynisco, Inc. Massachusetts and as a
Joint Managing Director in Premier Synthetics (India) Pvt. Ltd., Coimbatore.
He
has significant knowledge and experience in the area of measurement &
automation and embedded systems, gained during his tenure in the U.S. and the
many years of industrial experience in India. His main responsibility presently
is to define and develop innovative high quality products for the Indian and
world machine vision markets. He is involved in all aspects of technology
development in Soliton with an emphasis on continuing to build on the company's
engineering excellence.
Mrs.
Mekhala Devaraj, Director,
holds an MS in Physics and an MS in Bio-Physics from the University of
Michigan, Ann Arbor, USA. She is primarily responsible for the HR and
Administration activities. She has overseen the execution of all the new office
establishment projects and marketing events of the company since its inception
through its multiple rounds of growth and expansion.
Mr.
S.B. Rajnarayanan, Project
Manager, holds a Masters degree in Electronics Engineering, from the Coimbatore
Institute of Technology. During his 7 years of experience with Soliton,
developing Virtual Instrumentation solutions, he has developed many award
winning solutions for customers in India and the US. He is a Certified LabVIEW
Developer. He is presently in the US, managing the offshore LabVIEW projects
for Soliton. Raj holds the unique record of growing each and every customer
account he has handled into one of the top customers for Soliton.
Mr.
G. Abdulla, Project
Manager, holds a Bachelors degree in Computer Science from the Coimbatore
Institute of Technology, and has a total of 9 years of experience developing
computer based measurement and automation systems. He is a Certified LabVIEW
Developer. During the past 7 years at Soliton, he has developed numerous award
winning Virtual Instrumentation solutions, including the NIWeek ‘Overall Best
Application’ of the year in 2000. He is presently in the US, managing the
offshore LabVIEW projects for Soliton. Abdulla has been instrumental in
building the robust processes being used for company’s offshore software
development.
Mr.
K. Swaminathan, Business
Development Manager, heads the Sales and Marketing functions at Soliton,
primarily focused on the Indian market. He graduated with his B.Tech from Anna University,
Chennai and worked in Reliance Industries Limited for two years. He went to the
US to pursue his higher studies and graduated with his M.S. in Chemical
Engineering from Colorado School of Mines, Golden. His research for Mitsubishi
Chemical Corporation involved laser scattering and AFM studies for
characterization of copolymers. Swami joined Soliton in 2000 after returning
from the US, starting with technical sales and going on to head business
development. Swami plays a key role in defining the strategic directions taken
by the company and in enhancing the Soliton Culture.
Engineers
Company’s
people are company’s biggest assets. Company has a team of highly motivated and
skilled engineers with years of experience in automation to provide customized
solutions of the highest quality.
Company’s
engineers have strong educational backgrounds with PhD, Masters, and Bachelors
technical degrees from reputed institutions in India and the US. Soliton's
emphasis on continuous training keeps company’s engineers abreast with the
latest developments in technology. Company’s aim is to create the best possible
working environment, and ensure job satisfaction for all of company’s highly motivated
employees. Company’s job satisfaction is reflected in the high quality work
that Company delivers to its customers.
Soliton
Technologies strives to create in the company the most conducive environment
for exploring & developing creative and innovative ideas. This has brought
out the best in company’s engineers who have built innovative solutions
enabling them to pursue their personal goals and dreams.
Alliances:
Company’s
efforts to provide
the best solutions to their customers are well complimented by their alliances
with various partners who
are experts in their domains.
National
Instruments
National Instruments is one of the most innovative companies
in the world and a leader in the field of computer-based measurement and
automation. National Instruments has hardware and software tools that can be
integrated to provide a wide variety of solutions for measurement automation.
Soliton is an alliance member of National Instruments since inception.
Texas
Instruments
Texas
Instruments is the world leader in Digital Signal Processing and Analog
Technologies. TI’s products are used in a wide range of applications from
mobile phones to space shuttles. Soliton is a TI third party program member
offering DSP based products for machine vision.
Cal-Bay Systems
Cal-Bay
Systems is an established Silicon Valley company specializing in the area of
Virtual Instrumentation System Integration Services.
They are a "Select Integrator" of National
Instruments (NI), an honor conferred upon an elite group of about 16 companies
from more than 600 of their Alliance members around the world.
In 2001 together with Cal-Bay systems, Soliton had
established the "Cal-Bay Soliton Development Center", a dedicated
Virtual Instrumentation Software Development Center for Cal-Bay at Coimbatore.
The center effectively operates as a virtual extension of Cal-Bay's office in
the US. By leveraging the resources in the offshore center, Cal-Bay can access
a large pool of LabVIEW trained engineers in India, which ensures quick and
cost-effective development of Virtual Instrumentation custom systems and
products. This forms the major component of the business tie up with Cal-Bay
Systems, Inc. The agreement also includes the proposal for the joint
development of computer based automation products for the US market by Soliton
and Cal-Bay and the subsequent marketing of these products in the US by Cal-Bay
Systems.
Offshore development of Virtual Instrumentation software has
its own challenges since the software interacts mainly with hardware and
distributed factory systems, which cannot be made available at the offshore
facility. Soliton and Cal-Bay have developed methodologies for effectively
leveraging offshore software and engineering resources to develop world-class
solutions very quickly and cost-effectively to address this large market for PC
based Test & Measurement and Industrial Automation requirements.
This
development is very significant since this is the first offshore development
center in India in the fast growing area of Virtual Instrumentation with
applications in all major industries like telecom, automotive, biotech, optical
networking, computers, etc.
Atmel
Atmel
is a leading provider of cameras for high speed and high resolution
applications. Atmel provides unique products such as the monoline color
LineScan camera and very high-resolution area scan camera.
LMI
LMI
is a leader in 2D and 3D machine vision using laser sensors. LMI systems are
often integrated with highly accurate robotics that provide precise contour
measurements. These systems are typically used in the automotive industry for
precise measurements of body structures.
Advanced
Illumination
Lighting
is a critical component in a machine vision system. Lighting variations can
affect processing algorithms and hence it is essential to have a reliable and
repeatable illumination for a machine vision system. Advanced Illumination is a
provider of LED based light sources that have excellent life and reliability
while compared to conventional sources. With standard models that can be
customized to suit different requirements, Al offers thousands of varieties in
lighting.
Clients:
At
Soliton, customer satisfaction is paramount to us. This belief is reflected in
everything Company does. Company is proud to be associated with customers who
are leaders in their respective fields, both in India and abroad. At Soliton,
Company provides World Class Solutions for World Class Companies
India
- GE
- Pricol
- Brakes India
- Ford
- Visteon
- ELGI
- Knorr Bremse
US
- GE
- IBM
- Intel
- Boeing
- Apple
- DaimlerChrysler
- Nortel Networks
Products:
Soliton
is the first Indian company to design and manufacture cameras. Soliton’s cameras
are available for both Area scan imaging and line scan imaging. With a modular
design, Company’s cameras are easily adaptable for different applications. Our
cameras come with an option of built-in ‘Smart Processors’ that can run
user-defined algorithms to provide ‘smart’ functionality to the camera.
Currently CameraLink™ interface is available and an IEEE 1394 interface version
is under development.
Soliton
has also partnered with industry leaders to offer a wide range of machine
vision products to the Indian market. Soliton is the authorized distributor for
Atmel cameras in India. Atmel is a world leader in line scan technology with
unique products such as the ‘monoline’ color LineScan camera. Soliton is a
partner of LMI Technologies Inc to provide their 3D measurement technology
solutions to the Automotive Industry in India. Soliton also has strong
relationships with other machine vision component manufacturers such as
Advanced Illumination, a company that offers wide variety of lighting and Intercon
1, a division of Nortech Systems, a leader in providing connectivity
accessories for Cameras.
Soliton Products
Partner Products
Services:
Soliton
has over 6 years of experience in providing offshore LabVIEW services. Company has
perfected an offshore delivery model with which Company has successfully
executed LabVIEW based Test and Measurement projects from company’s offshore
development center in Bangalore. Company’s objective is to grow through
strategic partnerships with the global test engineering community. Based on
company’s experience, Company is convinced that the synergy emerging from
bringing together complimentary location-based advantages maximizes their
combined competitiveness in the market.
The
model leverages your proximity to the customer for requirement analysis and
project implementation, and company’s mature processes and cost advantages for
design, development and testing.
Customers Advantages
- Strong relationships with the
customers
- Thorough understanding of
customer's requirements
- Proximity to the customer for
project implementation
Company’s
advantages
- Operating from India gives them a
significant cost advantage
- Highly competent Certified
engineers with extensive experience in test system development
- Mature offshore software
development processes and expertise
- Mature test processes
Benefits
- Scale up or down resources more
easily with changing market conditions
- Reduce the development cost by
over 30%
- Round the clock work with the time
zone difference advantage
Engagement Models
- Fixed Price Projects
- Time & Material Projects
- Offshore Design and Software
Development Center
Awards:
The
significance of Company’s work
has been well recognized by industry peers who have awarded us with various
awards over the years. The most recent award was from Advanced Imaging
Magazine, (www.advancedimagingmag.com) a leading technology publication
focusing on the field of imaging and its influence on industry. The magazine
has honored Soliton's vision solution for 'Adaptive Assembly Inspection' with a
"2004 Imaging Solutions of the Year" award as one of the nine best
solutions worldwide for advancement of imaging technology. The other winners
included Adobe, Honeywell, Los Alamos National Labs, etc.
National
Instruments, Inc., a visionary company based out of Austin Texas, is the
world's leader in PC-based data acquisition and control. NI has revolutionized
computer-based test and measurement over the last 25 years through their
innovative and high-performance hardware and software products.
Every
year, in August, NI conducts an International Conference on Virtual
Instrumentation, at Austin, where they invite technical papers based on
innovative applications in Test, Measurement & Automation to the Best
Applications Contest. About 200 authors from countries all over the world send
in their papers. These papers are judged by a panel of over 100 technical
publication editors as well as NI technical experts & executives. The best
3 applications are given the top awards in each of the 11 categories. Soliton
has presented papers based on company’s applications and have won 19 awards in
the last four years.
And from the winners in the eleven
categories, NI chooses one application as the Overall Best Application of the
NI Week contest. This is the most coveted award at NIWeek every year. Soliton
won this award in 2000, 2001and again in 2004, making us the only company
worldwide to have won this three times.
Blue Eagle
Award
The Blue Eagle
award was instituted by National Instruments to honor the most technically
challenging, innovative and cost effective application using National
Instruments products in India. Soliton became the first company to win this
prestigious award for Measurement and Automation in 2002.
Year
|
Application |
Catagory |
Awas |
|
2004 |
Automated Optical
Inspection of Sciences X-Ray Ceramic Matrices |
Best Application/ Biotechnology/Life
Sciences |
Winner |
|
2004 |
Automated
Instrument Cluster Calibration and Inspection |
Automotive |
Winner |
|
2004 |
Determining the
MTBF of multi-output Power Supply Units |
R&D / Lab
Automation |
Finalist |
|
|
|||
|
2003 |
Automated Vision
Based Inspection of Automotive Brake Assemblies |
Automotive |
Winner |
|
2003 |
Board Functional
Test System for a New Generation Medical Ultrasound Machine |
Life
Sciences / Biomedical |
Winner |
|
2003 |
Comprehensive Inspection
System for Lamps and Wiring Harness in Automotive Instrument Clusters |
Automotive |
Finalist |
|
2003 |
High Throughput
Vision-Based System for Pencil Sorting |
Discrete
Manufacturing / Process Control |
Finalist |
|
|
|||
|
2002 |
PXI Based Oscilloscope
Breaks New Ground in Real Time Monitoring of Transient Phenomenon |
Biomedical |
Winner |
|
2002 |
High Voltage Multi
output Power Supply Test System |
Manufacturing
Functional |
Winner |
|
2002 |
Integrated PXI System
for Multi-head X-Ray tube Stress Testing |
R&D / Lab
Automation |
Finalist |
|
|
|||
|
2001 |
Networked Furnace Monitoring System |
Overall Best Application and Manufacturing |
Winner |
|
2001 |
Functional Testing of High Voltage X-Ray Tanks |
Biomedical |
Winner |
|
2001 |
Motorbike On-Road Brake Test |
Automotive |
Finalist |
|
|
|||
|
2000 |
Large Scale Battery
Test System |
Overall Best
Application and |
Winner |
|
2000 |
PC-Based System Results
in Faster Testing of Electronic Components |
Semiconductor |
Winner |
|
|
|||
|
1999 |
Automated Speedometer Calibration |
Automotive |
Finalist |
Press Release:
Soliton receives the Imaging Solution of the Year 2004
award
23-Jan-2004
Soliton
honored as one of nine technology companies worldwide with an 'Imaging
Solutions of the Year 2004' award
January 23, 2004
Soliton is delighted to receive an 'Imaging Solution of the Year 2004' award
from leading imaging industry publication 'Advanced Imaging Magazine'. Advanced
Imaging magazine, a leading technology publication focusing on the field of
imaging and its influence on the commercial, industrial, scientific, medical,
security and military industries, has announced the results of its 2004 Imaging
Solutions of the Year Awards. This annual competition asks developers, vendors,
integrators, VARs, public relations firms and end-users to nominate companies
whose solutions they feel merit special industry attention for their practical
handling of digital imaging and image processing challenges. Hank Russell, the
magazine's Associate Editor, said - "The competition was intense--so much
important work is being done in this era of technological advancement. There
were several, however, who stood out from the rest, and it's company’s pleasure
to be able to recognize such talent and effort." Four winners and four
runners-up were chosen from the many entries received. Len Yencharis, AI's
Editor-in-Chief said - "There were many excellent and elegant solutions
this year, from all corners of the imaging industry - visualization, medical,
commercial, machine vision and so on - and choosing just nine was no easy
task."
Soliton's "Adaptive Brake Assembly Inspection" system, a breakthrough
development in machine vision, was one of the four runners-up. Besides Soliton
from India, the awardees included leading companies and research institutions
like Adobe, Honeywell, Los Alamos National Labs, and others from North America
and Europe, with applications spanning areas like imaging for cosmology
research, brain imaging, and imaging software for helping trace missing
children.
Dr. Ganesh Devaraj, the CEO, said that he was very pleased that Advanced
Imaging Magazine, had chosen Soliton's work from among the numerous solutions
worldwide for recognition. He said that the company is very proud of the
achievement of the Soliton team that brought these laurels to Soliton. Mr.
Anand Chinnaswamy, the CTO, said that for this solution, an adaptive image processing
technique was developed, to enable the algorithms developed for the
verification of the proper assembly of the various components, to not fail when
the foreground objects or the background varied from batch to batch. Such
variations are permissible in an "under-the-hood" assembly where
there are no specifications on the visual appearance of the components. Mr. A.
Ashok Kumar, a senior machine vision engineer at Soliton, led the image
processing development work that translated this idea into reliable software
that could be deployed in the production line.
Soliton wins top Virtual
Instrumentation Award for 2004
20-Aug-2004
August 20,
2004
Soliton is
delighted to receive the 'Overall Best Application' award at NIWeek 2004, the
annual worldwide conference for Test and Measurement.
Soliton's solution for 'Surface Inspection of X-Ray Ceramic Matrices' was
adjudged Category winner in BioMedical / LifeSciences category. It was also
declared the "Overall Best Application" among all the different categories.
Soliton's solution for Automotive Cluster Inspection was adjudged the best
application in the Automotive Category.
With this award, Soliton is the only company to have won the Overall Best
Application award three times since inception of NIWeek. Soliton has also been
winning the Automotive and Life Sciences categories at NIWeek for three years
in a row since 2002.
Earlier this year, Soliton's adaptive assembly inspection solution was honored
as one of the "Imaging Solution of the year 2004" by Advanced Imaging
Magazine. Dr. Ganesh Devaraj, CEO of Soliton said that the company has a strong
focus on machine vision and the awards are recognition to the technical
innovation that Soliton provides in its solutions.
"Imaging Solution of the year 2004 award"
23-Jan-2004
Soliton
honored along with nine technology companies worldwide with an 'Imaging
Solutions of the Year 2004' award
January 23, 2004
Soliton is delighted to receive an 'Imaging Solution of the Year 2004' award
from leading imaging industry publication 'Advanced Imaging Magazine'. Advanced
Imaging magazine, a leading technology publication focusing on the field of
imaging and its influence on the commercial, industrial, scientific, medical,
security and military industries, has announced the results of its 2004 Imaging
Solutions of the Year Awards. This annual competition asks developers, vendors,
integrators, VARs, public relations firms and end-users to nominate companies
whose solutions they feel merit special industry attention for their practical
handling of digital imaging and image processing challenges. Hank Russell, the
magazine's Associate Editor, said - "The competition was intense--so much
important work is being done in this era of technological advancement. There were
several, however, who stood out from the rest, and it's company’s pleasure to
be able to recognize such talent and effort." Four winners and four
runners-up were chosen from the many entries received. Len Yencharis, AI's
Editor-in-Chief said - "There were many excellent and elegant solutions
this year, from all corners of the imaging industry - visualization, medical,
commercial, machine vision and so on - and choosing just nine was no easy
task."
Soliton's
"Adaptive Brake Assembly Inspection" system, a breakthrough
development in machine vision, was one of the four runners-up. Besides Soliton
from India, the awardees included leading companies and research institutions
like Adobe, Honeywell, Los Alamos National Labs, and others from North America
and Europe, with applications spanning areas like imaging for cosmology
research, brain imaging, and imaging software for helping trace missing
children.
Dr. Ganesh Devaraj, the CEO, said that he was very pleased that Advanced
Imaging Magazine, had chosen Soliton's work from among the numerous solutions
worldwide for recognition. He said that the company is very proud of the
achievement of the Soliton team that brought these laurels to Soliton. Mr.
Anand Chinnaswamy, the CTO, said that for this solution, an adaptive image
processing technique was developed, to enable the algorithms developed for the
verification of the proper assembly of the various components, to not fail when
the foreground objects or the background varied from batch to batch. Such
variations are permissible in an "under-the-hood" assembly where
there are no specifications on the visual appearance of the components. Mr. A.
Ashok Kumar, a senior machine vision engineer at Soliton, led the image
processing development work that translated this idea into reliable software
that could be deployed in the production line.
Dr. Devaraj said that Soliton is presently working on expanding the scope of
this system and the adaptive algorithms to address various kinds of automated
online inspection requirements for the electronic and the mechanical assembly
industries.
Contact:
Bangalore
Soliton Technologies Private
Limited.
# 683, 15th Cross Road,
2nd Phase, JP Nagar,
Bangalore – 560078,
INDIA
Tel : +91 -80- 51208600
Fax: +91 -80- 51208700
Coimbatore
Soliton Technologies
Private Limited
Classic Towers,
#1547, Trichy Road,
Coimbatore - 641 018,
INDIA
Tel : +91-422-2302371, 74
Fax: +91-422-2302375
Milwaukee
Soliton Technologies, Inc
17125C, W Bluemound Rd #123,
Brookfield,
WI 53005 USA.
Tel : +1-262-780-0962
Fax: +1-262-364-2635
|
Name of the company |
SOLITON TECHNOLOGIES INDIA PRIVATE LIMITED |
|
Presented By |
MR GANESH DEVARAJ, MANAGING
DIRECTOR |
|
1) Date and description of instrument
creating the change |
09.02.2001,
agreement of hypothecation to secure an operating demand loan, bank guarantee
and letter of credit. |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs 3.500
Millions |
|
3) Short particular of the property charged.
If the property acquired is subject to charge, date of the acquired of the
property should be given |
First
exclusive charge on raw material, process stock, finished goods, stores and
spares and receivable including export receivables and fixed assets of the
borrower. |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Interest
@ 17.25% per annum or such other rates prescribed rates prescribed in
agreements from time to time. |
|
5) Name and Address and description
of the person entitled to the charge. |
The Bank
of Nova Scotia Classic
Towers, 1547, trichy Road, Coimbatore – 641018 |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying
the terms and conditions or the extent of operations of the charge in which
modification is made and the details of the modification. |
NA |
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.
44.17 |
|
UK Pound |
1 |
Rs.
86.10 |
|
Euro |
1 |
Rs.
57.26 |
SCORE
& RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
37 |
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 |
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 |