MIRA
INFORM REPORT
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Report Date : |
02.05.2007 |
IDENTIFICATION DETAILS
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Name : |
CMS COMPUTER LIMITED |
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Registered Office : |
201, Archadia, Nariman Point, Mumbai;400021, |
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Country : |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
19.02.1980 |
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Com. Reg. No.: |
022235 |
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CIN No.: [Company
Identification No.] |
U30007MH1980PLC022235 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC01573F / MUMC05245C |
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Legal Form : |
Closely Held Public Limited Liability Company. |
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Line of Business : |
Computer hardware and software maintenance, systems consultancy, software development systems and applications, development and improvisation support - high precision components and electrical sub-assemblies, assembly line and manufacturing facilities, systems integration and enhancement, marketing of micro-computers and value-added systems. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 1560000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial position is good. Payments are correct and as per commitments. The company is doing well. It can be considered good for normal business dealings at usual trade terms and conditions. The company can be regarded as a promising business partner in a medium to long-run. |
LOCATIONS
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Registered Office : |
201, Archadia, Nariman Point, Mumbai;400021, |
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Tel. No.: |
91-22-22834494/ 28340041 |
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Mobile No.: |
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Fax No.: |
91-22-22042734 |
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E-Mail : |
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Website : |
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CMS House: Plot No:91, Street No.7, Marol, MIDC, Andheri (East), Mumbai:400 093, Tel No: 91-22-28216511/ 283400041 Fax No: 91-22-28364954 System Computer
Systems(I) Limited: Speez, Customs Wing, Andheri(East), Mumbai:400096, Tel No: 91-22-28290089 / 07 / 01 Fax No: 91-22-28290126 System Global
Center: 155, Tel No: 91-22-27783121 (till3140) Fax No: 91-22-27782291 CMS Computer
Institute CMS House, Plot No.91, Street No:7, MIDC, Marol, Andheri(East),
Mumbai:400 093, Phone:91-22-2821 6511 / 28329198 CMS Somputer
Limited Tel No: 91-22-27781522/ 1523 / 2792 Fax No: 91-22-27781520 System Computer
System (I) Limited: Udyog Sadan, No:3, Unit –C, M.I.D.C. Marol, Mumbai:400093, Tel No: 91-22-28315650 / 0112 Fax No: 91-22-2831009 CMS Traffic
Systems Limited Building No:155, 2nd Floor, Sector-2, Tel: 91-22-27783100/ 27782547 -8 Fax No: 91-22-27782792 |
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Administrative Office: |
Plot No:91, Street No.7, Marol, MIDC, Andheri (East), Mumbai:400 093, |
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Tel. No.: |
91-22-28216511/ 283400041 |
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Fax No.: |
91-22-28364954 |
DIRECTORS
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Name : |
Mr. Ramesh Dutt Grover |
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Designation : |
Director |
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Address : |
1, revills, 45, Cuffe Parade, Mumbai:400005, |
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Name : |
Mr. Varun Kumar Prasad |
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Designation : |
Director |
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Address : |
49, Jal Kiran, 45, Cuffe Parade, Mumbai:400005, |
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Name : |
Mr. Ramadorai Srinivasan |
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Designation : |
Director |
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Address : |
301, Atlantis, J.P. road, Andheri (west), Mumbai:400061, |
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Name : |
Mr. Anil R. Laud |
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Designation : |
Director |
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Name : |
Mr. S. Ramadorai |
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Designation : |
Director |
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Name : |
Mr. B. Manoj Kumar |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. V. K. Gupta |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Ramesh Dutt Grover |
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4170366 |
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Varun Kumar Prasad |
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2245611 |
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Datacom Coumputers Private Limited |
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7776 |
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Anil Ramnath Laud |
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466560 |
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Ramadorai Srinivasan |
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200232 |
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Systiem Coputers limited |
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175000 |
BUSINESS DETAILS
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Line of Business : |
Computer hardware and software maintenance, systems consultancy, software development systems and applications, development and improvisation support - high precision components and electrical sub-assemblies, assembly line and manufacturing facilities, systems integration and enhancement, marketing of micro-computers and value-added systems. |
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Products : |
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Brand Names : |
“CMS”. |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C or Credit (30-60 days) |
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Purchasing : |
L/C or Credit (30-45 days) terms. |
GENERAL INFORMATION
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Suppliers : |
v Microstar Computers Unit No. 4B & 5, Building B, Rajshree Industrial Estate, Agarwal Udyog Nagar, Sativali Road, Waliu, Vasai (East), Dist. Thane, Maharashtra Tel. No. 91-250-2452934 Fax No. 91-250-2453256 v
Compaq Computers ( Central Warehouse, 93, 1st
Floor, Industrial Suburb, 2nd Stage, Yeshwantpur, Tel. No. 91-80-3374601 Cell No. 98441 01632 v Tech Pacific India Limited Plant 19-A, Phiroj Shah Nagar, Vikhroli, Mumbai – 400 079 Tel. No. 91-22-25960287, 25960804 v IBM Tel. No. 91-80-5094888, 5268154 v
Ingram Micro ( 6th Floor, Balarama, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 052 Tel. No. 91-22-25550604, 25550605 |
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Customers : |
AIRLINES: v Lufthansa v Emirates v
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Air OIL: v Oil & Natural Gas Corporation Limited v Hindustan Petroleum Corporation Limited v
British Petroleum AUTO: v Ashok Leyland Limited v Bajaj Tempo Limited FINANCE: v Stock Holding Corporation of India Limited v Credit Rating Information Services of India Limited v
Industrial Development Bank of v National Stock Exchange v National Security Depository Limited BANKING: v
Bank of v
State Bank of v CITIBANK v SBI Commercial & International Bank v ABN Amro Bank N. V. v Standard Chartered Grindlays Bank Limited CONSULTANCY: v Larsen & Toubro Limited v ECC Construction Group v Davy Powergas India Limited v Birla Consultancy and Software Services SERVICES: v BSES v TATA Share Registry Limited PHARMACEUTICALS: v Bayer v GlaxoSmithKline MANUFACTURING: v The Mukund Group v Philips EDUCATION: v NIIT v Center for Development of Advanced Computing |
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No. of Employees : |
3500 |
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Bankers : |
State Bank of Commercila
Branch, Syndicate Bank Nariman Bhavan, Nariman Point, Mumbai – 400 021 Citibank N.A. Sakhar Bhavan, Nariman Point, Mumbai – 400 021 IDBI Bank MIDC, Andheri (East), Mumbai – 400 096 |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Amit Majmudar Chartered Accountant |
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Address : |
S.R. Batiboi and Associates, 6th Floor, |
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Associates/Subsidiaries : |
v Modern Components & Tooling Company Private Limited v Systime Computers Private Limited v Datacom Computer Services Private Limited v CMS Engineering Services Private Limited v CMS Traffic System Limited v Kalati Construction Private Limited v Kaycee Industries Limited v Systime Computers Limited v
Systime Computer Systems ( v CMS Securitas |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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7808600 |
Equity Shares |
Rs.10/- each |
Rs.78.086
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
78.086 |
70.905 |
70.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
873.853 |
280.113 |
239.300 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
951.939 |
351.018 |
310.200 |
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LOAN FUNDS |
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1] Secured Loans |
962.559 |
399.969 |
247.300 |
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2] Unsecured Loans |
56.287 |
111.285 |
175.100 |
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TOTAL BORROWING |
1018.846 |
511.254 |
422.400 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
1970.785 |
862.272 |
732.600 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
656.076 |
453.423 |
326.200 |
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Capital work-in-progress |
28.457 |
0.000 |
0.000 |
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INVESTMENT |
68.122 |
25.909 |
25.700 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
237.791
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91.693 |
147.900 |
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Sundry Debtors |
647.444
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593.330 |
446.700 |
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Cash & Bank Balances |
332.326
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85.745 |
50.100 |
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Other Current Assets |
571.119
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15.935 |
0.000 |
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Loans & Advances |
219.469
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160.997 |
87.600 |
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Total
Current Assets |
2008.149
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947.700 |
732.300 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
745.033
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532.019 |
350.300 |
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Provisions |
44.986
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32.741 |
8.000 |
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Total
Current Liabilities |
790.019
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564.760 |
358.300 |
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Net Current Assets |
1218.130
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382.940 |
374.000 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
6.700 |
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TOTAL |
1970.785 |
862.272 |
732.600 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover |
3192.831 |
2766.584 |
2252.900 |
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Other Income |
35.235 |
5.430 |
0.000 |
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Total Income |
3228.066 |
2772.014 |
2252.900 |
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Profit/(Loss) Before Tax |
137.905 |
109.650 |
115.300 |
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Provision for Taxation |
67.495 |
63.388 |
41.700 |
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Profit/(Loss) After Tax |
70.410 |
46.262 |
73.600 |
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Expenditures : |
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Raw Material Consumed |
17.049 |
10.320 |
0.000 |
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Purchases made for re-sale |
1159.396 |
1344.213 |
0.000 |
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Consumption of stores and spares parts |
0.000 |
0.000 |
0.000 |
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Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
0.000 |
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Salaries, Wages, Bonus, etc. |
644.787 |
465.601 |
0.000 |
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Managerial Remuneration |
11.743 |
1.513 |
0.000 |
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Payment to Auditors |
1.763 |
0.366 |
0.000 |
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Interest |
89.265 |
58.369 |
0.000 |
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Insurance Expenses |
6.189 |
5.861 |
0.000 |
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Power & Fuel |
26.158 |
17.833 |
0.000 |
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Depreciation & Amortization |
0.000 |
0.000 |
0.000 |
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Other Expenditure |
1133.811 |
758.288 |
2137.600 |
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Total Expenditure |
3090.161 |
2662.364 |
2137.600 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
2.18
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1.66 |
3.26 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.31
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3.96 |
5.11 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.17
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7.82 |
10.89 |
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Return on Investment (ROI) (PBT/Networth) |
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0.14
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0.31 |
0.37 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.82
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1.60 |
1.15 |
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Current Ratio (Current Asset/Current Liability) |
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2.54
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1.67 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
CMS COMPUTERS
LIMITED |
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Presented By |
V. K. Gupta ,
company Secretary |
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1) Date and description of instrument creating the change |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.375.100
Millions
And all other
moneys at any time payable by the Borrower to the Bank under or in respect of
all or some or any of the aforesaid credit facilities granted or to be
granted. |
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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 |
Hypothecation/
charge on the Current Assets including in particular all stocks of Raw
Material, Semi Finished goods and finished goods lying loose or in cases or
in transit , all Book debts and receivables to secure Working Capital
Facilities and BG/ LC Limits. First Charge on
all specify machinery, plant and equipments at Company’s different locations/
places to secure Term Loan. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
All the monies
now or at any time and from time to time hereafter due/may become due and owing
by the Company to the Bank in respect of and under the above said working
capital facilities and interest and commission thereon and all legal and
other costs. Charges, payments, re-imbursements and expenses relating there
to secured by:
First Charge on
all specific machinery, plant abnd equipments at Company’s different
locations/ places as detailed in Schedule I of the Agreement of Hypothecation
of Goods and Assets dated Facility : Cash
Credit/WCDL (2% below BPLR) Margin: 25% Facility : Letter
of Credit Margin:10% Facility :
Performance/ Financial Guarantees Margin : 5% Facility: Term
Loan (2.75% below BPLR) |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Commercila
Branch, |
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6) Date and brief description of instrument modifying the charge |
-- |
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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. |
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Corporate
identity number of the company |
L30007MH1980PLC022235 |
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Name of the
company |
CMS COMPUTER
LIMITED |
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Address of the
registered office or of the principal place of business in |
Nariman Point,
Mumbai;400021, |
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This form is for |
Creation of
Charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
L65190GJ1994PLC02102 ICICI Bank
Limited Alkapuri,
Borodal390015, |
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Nature of
instrument creating charge |
Deed of Hypothecation
dated |
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Date of
instrument Creating the charge |
17.07.2006 |
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Amount secured by
the charge |
Rs.250.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Fund Based
facilities of Rs. 150.000 Millions and
Non Fund Limits of Rs.100.000 Millions. Csh Credit (I-Bar-2.75% +CC Risk
Premium), WDCL (I-BAR-2.5%), remaining as per snction terms. |
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Description of
the property charged |
Stock in trade,
Book Debts |
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Particulars of
the property charged |
Working Capital
facilities secured by current assets of the company wherever situated, more
particularly defined in Schedule II –part B Deed of Hypothecation. |
Fixed Assets:
Land
Buildings
Plant and Machinery
Jigs, Mould and Dies
Air-conditioning Machines
Electrical Installation
Furniture fixtures and Fittings
Vehicles
Office and Factory Equipments
Computer Systems and Peripherals
The company is a Small Scale Industrial Unit registered with the Directorate of Industries, Mumbai and therefore, its manufacturing capacity has not been licensed. For this reason, the installed capacity has not been ascertained with reasonable accuracy by the management.
Subject is US $ 100 million IT COMPANY. It has over 1000 qualified professionals,
over 100 research personnel across three Research & Development centres in
– Thiruvananthapuram, Mumbai and Pune.
The company’s custom products are EDM, Kiosk, Security and Traffic
Systems. Subject is rated among the top
ten solutions vendors in
Subject has marketing tie-up with leading IT companies such as IBM, COMPAQ, DELL, 3COM CORPORATION, HEWLETT PACKARD, DATACARD-USA, OCE PRINTING SYSTEMS, and STORAGETEK.
Subject purchases its requirements 80% from local market and 20% from international market.
REVIEW OF OPERATIONS:
The Sales and income from Operations for the year 2002-03 has registered a rise
of 22% compared to Sales and Income from Operations of last year. The Profits
of the Company before tax has gone up from Rs.84.26 Million to Rs.115.38
Million during the year under review. The profit after tax, has increased from
Rs.66.26 Million to Rs.73.64 Million.
During the year under report the company was able to achieve
good increase in Sales and Income from Operations.
The Company is having a good order book position with orders from Life
Insurance Corporation of India, ONGC, State Bank of Travancore, Kaveri Project
and having other prestigious projects in hand. The Company expects to end the
year with an increase in turnover by 25%.
The company is consciously focused on making a niche for itself in the System
integration, Smart Cards and Printing Solutions and providing value added
services. The company is developing products, which have mass appeal at a very
competitive rate.
It sells its products 95% in local market and 5% in international market.
Subject has been accredited with the ISO 9002 certification.
The company has pioneered outsourcing IT products and services for over two decades. The outsourced products include:
- Equipment Leasing Disaster Recovery and Contingency Offering Plastic Card Personalization for ATM, Debit, Credit, ID card and others
- High volume printing of statements, mailers, invoices.
CMS Securitas Limited a wholly owned subsidiary of CMS Group of Companies, established as the most Versatile Service Provider, to focus on Cash Management as its core business to serve both, developing and developed consumer financial markets under the same management.
CMS Securities, has a nationwide presence handling major
projects in almost all the major cities like Mumbai, Chennai,
CMS Securities epitomises the power of synergy to provide customers an unprecedented level of total Secured Cash Management solutions.
CMS Securities maintains its legacy of consolidated and synchronized secured operations while continually encashing its technological excellence.
It has a nationwide Cash Management Network, with following state-of-art infrastructure availability, as per the global security standards:
- Skilled and Trained Personnel
- Cash Van
- Armoured Cash Van
- State of
- Secured Vaulting Facility
- Communication
- Cash Management
- Round the Clock -Help Desk for Modern Banking
The company has provided end-to-end solutions based on smart cards as well as on magnetic stripe cards. And now using Biometrics also.
The solution includes the following:
- Conceptualisation of the solution, including functionality of terminal, card and back end.
- Design the solution including cards, terminals, backends, and the associated software.
- Personalisation and managed deployment of cards.
- Deployment and maintenance of the terminals, and backend .
- CMS provides best of breed solutions and offers in-house designed and manufactured terminals for simple solutions and has tie ups with leading vendors like Keycorp for higher end terminals.
Details of Card solutions implemented by us are :
- Campus Solutions
- Club / Entertainment Park
Management System
- Loyalty Solutions
- Multiple Application For Large
Scale / Mfr. Industries
- RTO Automation (State Wide)
& Solutions
- Cyber Café Management System
- Health Administration
Printing
The company, offer-printing solutions from OCE. The OCE High Speed printing system is a member of new generation of high-end digital printer. It is engineered to deliver high print quality, reliability and cost savings. The OCE features LED PLUS technology delivering precise dot placement for improved print quality. OCE is capable of printing from 55 to 1000 images per minute in the industry standard format both cut sheet and continuous forms.
The OCE digital printing system delivers high print quality up to 600 dots per inch resolution supporting industry standard formats such as PCL, Postscript, ASCII, AFP and IPDS.
The OCE Printer is designed and engineered for ease of operation, so it’s easy to operate and simple to maintain. A modular design and precision engineering combine to reduce maintenance interruptions. Fewer moving parts mean increased up-time and enhanced productivity.
The high-performance OCE printing system offers maximum performance and is ideally suited for applications requiring high print quality, high speed and forms flexibility.
Demanding application requirements including company logos, signatures, graphics, MICR and bar codes are printed with crispness and clarity.
Printer can be deployed in various industries like Telecom, Utilities, Banks, Insurance, Printing and Publishing, Production Mail and so on.
Time
Attendance & Access
The company is a wide range of solutions for Computerized Time Attendance and Access Control System has been designed by our in-house R&D team. Over 1000 such systems have been installed in about three years, making us a leader in this market segment.
The CMS Time Attendance System, Time-O-Log and the CMS Access Control System, CMS Access comes with:
- High Impact Die-cast Metallic Housing.
- Super Twist Pneumatic 32 Characters Backlit LCD.
- Choice of readers:
- Magnetic,
- Barcode,
- Proximity and
- Smart Card.
The company J D Edwards clients are
- Philips India Limited.
- Castrol India Limited.
- Electrolux India Ltd.
- Intergold.
- Sandvik Asia Ltd.
- SmithKline Beecham Mackwoods,
- Parke Davis India Limited.
- SmithKline Beecham Consumer Healthcare Limited.
- SmithKline Beecham Pharmaceuticals -
- John Wyeth India Ltd.
- Praxair
- Foseco India Limited.
- Sony Music India Ltd.
- GEPSIL (A Division Of GE).
- Cabot India Limited.
- ELF Lubricants Limited.
The company is a leading provider of interactive touch-screen kiosks, which allow users to navigate computer systems by touching icons and links on screens. Touch-screens are quickly becoming the interface of choice for a vast array of environments. They stimulate the senses to provide memorable service experiences, while being so user friendly that they do not require any computer experience. This new breed of interactive technology has diversified into every aspect of public life: hotels, airports, hospitals, shopping centers, bars, restaurants, colleges, banks, schools, campgrounds, medical centers, convention centers, public libraries, car dealerships, cruise vessels, book stores, and more.
The company’s kiosks are ergonomically designed, take up very little space, serve many functions, possess remote management capability and offer unlimited future potential. The company tailor the hardware and software of its kiosks to suit the wants and needs of each customer. The possibilities are endless. Revolutionize the way you provide information and empower your organization
The
new millennium.
- The company is a US$ 60 million IT company.
- Over 4,000 qualified professionals Worldwide.
- Over 100 research personnel across three R&D centers in- Thiruvananthapuram, Mumbai and Pune.
- Custom products like EDM, Kiosk, Security and Traffic Systems.
- Rated among the top ten solutions vendors in
- A countrywide network of offices and support centres.
- And the prestigious ISO 9002 certification for manufacturing operations and customer support operations
Customer
support / field engineering division
- Largest Third Party Maintenance and Facility Management Company in the Private sector, active in the field of maintenance for the last 26 years.
- ISO 9002 Certification for Field Engineering Division handling AMC and Facilities Management Services.
- Authorized Service Provider for IBM, Compaq, Oce, StorageTek, PictureTel, Data Card, and Sun etc.
- Nationwide network of over 8 Regional Offices, 20 Support centers, & 50 odd resident engineer locations with distributed Spares stocking at Regional Hubs.
- Presently providing support for diverse Hardware platforms and maintaining a system base of more than 60,000 machines spread through the country which include Local and MNC brands.
- Providing Facility Management Services to core companies like ABN Amro Bank, Centurion Bank, Citicorp, Philips, Tata BP, Citibank, HDFC, Standard Chartered, Bank Of America, Tata AIG, to name a few.
- Round-the-clock Call logging facilities at selected locations ensuring support at all times.
- Having unique skills on Airlines, ATM, DataCard equipment & High-Speed Production Printers & Midrange of Servers like AS400, Alpha, Sun and HP9000.
- Test and Repair Centres at all 8 Metros for efficient Spares recycling.
- Flexibility to mould to variety of new Services and readiness to upgrade skills, to the needs of the Customer.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.90 |
|
|
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.55.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|