MIRA
INFORM REPORT
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Report Date : |
23.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
CADS SOFTWARE INDIA PRIVATE LIMITED |
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Registered Office : |
43, Sowbarnikaa Complex, Thirumalai Pillai Road, T. Nagar, Chennai –
600017, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.03.1996 |
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Com. Reg. No.: |
034854 |
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CIN No.: [Company
Identification No.] |
U30006TN1996PTC034854 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC02724B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Professionally Supported Software Solutions for Civil and Structural
Engineering |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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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. |
Small |
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Maximum Credit Limit : |
USD 15116 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject seems to be an old company but its financials are missing with
the Government Registry. We contacted the management and spoke to Mr. Vasant,
who was found non-cooperative. No further details could be made available.We
could manase the financious from the government. Regestred which are enclosed
herewith. The company be can considered for small to mediocre business dealings
with slight caution, in view low profitability. |
LOCATIONS
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Registered Office : |
43, Sowbarnikaa Complex, Thirumalai Pillai Road, T. Nagar, Chennai –
600017, Tamilnadu |
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Tel. No.: |
91-44-28233681 / 28233682 / 3 / 4 / 28228183 / 4/28228184/28233684 |
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Fax No.: |
91-44-28232349 |
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E-Mail : |
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Website : |
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Location: |
Commercial |
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Head Office: |
Computer and Design
Services Ltd |
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Tel No.: |
44 -1202 603031 |
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Fax No.: |
44 -1202 658549 |
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UAE Office : |
CADS
International Computer |
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E – Mail : |
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Tel No.: |
971 4 3517330 |
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Fax No.: |
971 4 3591633 |
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USA Office : |
CADS-USA, Inc. |
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E – Mail: |
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Tel No.: |
717-757-2025 / 800-470-4566 |
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Fax No.: |
717-757-7095 / 800-511-4566 |
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Branches : |
Delhi 407, 4th
Floor, Laxmi Deep Building, District Centre, Laxmi Nagar |
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Tel. No.: |
91-22-26600456/22442708 |
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Branches : |
Mumbai Dheeraj Heritage, Swami Vivekanand Road,
Santacruz, Mumbai – 400054, Maharashtra, India |
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Tel. No.: |
91-22-26600456 |
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Branches : |
Kolkatta AB 6, Salt Lake
BL – AB, Sector I, Kolkata – 700064, West Bengal, India |
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Tel. No.: |
91-33-23215386 |
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DIRECTORS
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Name : |
Mr. K.K. Jagadish |
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Designation : |
Managing Director |
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Address : |
No. 7, Defence Office Colony, Guindy, Chennai – 600032, Tamil Nadu |
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Date of Birth/Age : |
12.01.1963 |
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Date of Appointment : |
19.03.1996 |
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Name : |
Mr. J. J. Nayagam |
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Designation : |
Director |
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Address : |
35, Honeypots Road, Mayford, UK |
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Date of Birth/Age : |
03.06.1949 |
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Date of Appointment : |
19.03.1996 |
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Name : |
Mr. Lan Chambers, Foreigner |
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Designation : |
Director |
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Address : |
Breamarmerley Park Road, Ashington, BH 213 DD, Winborc, UK – 96041 |
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Date of Birth/Age : |
12.05.1960 |
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Date of Appointment : |
19.03.1996 |
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Name : |
Mr. Richard Martin Pearce, Foreigner |
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Designation : |
Director |
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Address : |
30, Ellesfield Drive, West Parley, BH 228 QW, Ferndown, UK – 92173 |
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Date of Birth/Age : |
01.06.1951 |
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Date of Appointment : |
26.08.1997 |
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Name : |
Mr. Jonatham Walter Fryett, Foreigner |
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Designation : |
Director |
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Address : |
Lindfield, 64 Queens Road, BH 19, Swanage, UK |
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Date of Birth/Age : |
20.12.1950 |
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Date of Appointment : |
26.08.1997 |
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KEY EXECUTIVES
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Name : |
Mr. B. Subramaniam |
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Designation : |
Company Secretary |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names and Address of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. K. K. Jagadish, No.7, Defence Officers Colony, Guindy, Chennai –
600032, Tamil Nadu |
21245 |
10.00 |
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Mr. J. J. Nayagam, 35, Honeypots Road, Mayford, Uk |
82857 |
39.00 |
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M/s. Computer Design Services, Arrow Smith Court, Broadstone, Dorset
BHI 88 AY, UK |
108352 |
51.00 |
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Total |
212454 |
100.00 |
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BUSINESS DETAILS
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Line of Business : |
Professionally Supported Software Solutions for Civil and Structural
Engineering |
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Products : |
·
Analysis
– Provides a range of 2D/3D structural
analysis software to suit varying degrees of complexity, from simple trusses
to major building structures. ·
Design
– Develop and support a range of software
products to suit the full range of design requirements for steel,
reinforced concrete, timber and other materials. ·
Detailing
– Provides a range of 2D and 3D RC and Steelwork AutoCAD based detailing
software to suit every type of job from simple footings or trusses to major
building and civil engineering structures. ·
Geotech
– Range of Ground Engineering applications includes software for
designing cantilever and mass concrete Retaining Walls, Sheet Piling,
Cofferdams, Slope Stability analysis and Reinforced Slope design. Provide an integrated Road and Drainage
design suite that uses digital survey data for a digital ground model which
is used to produce road alignments and drainage system designs. Other
possible applications include land fill management, golf course design and
mineral extraction. Provide a global rc detailing service, particularly for our main markets
of Dubai (UAE), UK, USA and Canada. |
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Agencies Held : |
September 7, 2007 |
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Exports : |
Subject provides and develop software for its domestic and
international clients |
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Imports : |
Subject is importing software from UK |
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Terms : |
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Selling : |
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Purchasing : |
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GENERAL
INFORMATION
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Customers : |
Customers
in India ·
M N Dastur ·
L and T ·
Fichtner ·
TISCO ·
MECON ·
EIL ·
STUP ·
RITES ·
BHEL ·
SIEMENS ·
UHDE ·
CPT ·
National informatics Centre ·
PWD Pondicherry ·
Gate City Software Solutions Private Limited ·
Design Excellance India Private Limited ·
Eversundai Consulting Engineering ·
Gammon India Limited ·
Mahimutra Consultants Private Limited ·
Protious Engineering Services Limited ·
Bhagwati Design Private Limited In Other
Countries
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Bankers : |
·
State Bank of India ·
ABN Amro Bank ·
Canara Bank ·
ICICI Bank Limited |
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Banking
Relations : |
Reportedly Normal |
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Auditors : |
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Name : |
MBS and Company Chartered Accountants |
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Address: |
Rayala Towers, 781 Mount Road, Chennai – 600002, Tamil Nadu |
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Tel No.: |
91-44-28521542/28521589 |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
212500 |
Equity Shares |
Rs.10/- |
Rs.2.125
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.125 |
2.125 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.654 |
1.560 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.779 |
3.685 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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Provision, Advance Received, Creditors |
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15.527 |
11.478 |
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TOTAL |
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19.306 |
15.163 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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13.451 |
9.052 |
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Capital work-in-progress |
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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 |
0.000 |
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Sundry Debtors |
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0.051 |
0.175 |
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Cash & Bank Balances |
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0.531 |
0.897 |
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Other Current Assets |
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5.118 |
4.638 |
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Loans & Advances |
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0.155 |
0.401 |
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Total
Current Assets |
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5.855 |
6.111 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
0.000 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.000 |
0.000 |
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Net Current Assets |
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5.855 |
6.111 |
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TOTAL |
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19.306 |
15.163 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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120.247 |
87.135 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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120.247 |
87.135 |
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Profit/(Loss) Before Tax |
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0.881 |
0.037 |
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Provision for Taxation |
|
0.787 |
(0.534) |
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Profit/(Loss) After Tax |
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0.094 |
(0.497) |
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Expenditures : |
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Total Expenditure |
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0.000 |
0.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.08 |
(0.57) |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.73 |
0.04 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.56 |
0.24 |
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Return on Investment (ROI) (PBT/Networth) |
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0.23 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.00 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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0.00 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
Reference
- New Teck Systems
and Service
- Thirusuli
Associates
- Group Tech
Power Systems
- Mangna
Modules and Systems
- USAM
Technology Solutions Private Limited
- Auro Power
Systems
- Precision
Tachserve Private Limited
- Siemtel
Communications
- Sri
Balamurugan Fabricators
As per Web Details
Company Profile:
Subject was established in 1996 and is based in the city of Chennai, on India's south eastern coast.
The office was founded by and is managed by Mr K K Jagadish. Subject global headquarters are located in the UK, with additional offices in the USA and UAE.
Subject was established in the UK by a firm of consulting structural engineers more than 30 years ago, and has acquired more experience and expertise than any other developer in its field. Originally concentrating on Structural Analysis and Design applications, Subject moved into AutoCAD add-ons in the late 1980s and became a major force in driving the acceptance and uptake of AutoCAD as the de-facto standard CAD platform in the UK construction industry. Subject has now grown into a global multi-million pound software company.
Subject has a large team of qualified experienced Structural and Civil engineers and technicians, software developers and programmers dedicated to continuous progress through innovation and continuous product development.
Subject has an installed world-wide user base of more than 4000 customers who use in excess of 48,000 copies of Subject supplied programs in more than 70 countries. Subject software has been tried and tested on a wide range of projects including buildings, bridges, airports, water treatment plants and power installations.
Subject are not only the developer of the world's favourite rebar detailing software SUBJECT RC, but are also one of the biggest users! Over 200 detailers are based in their India offices. They are helping to drive major global reinforced concrete projects, by providing accurate drawings on time and on budget.
News:
SMART Modeller ESA
PT to Revit Structure Bi-directional Link
15 Jun 2007
The new bi-directional links to Revit® Structure within
SMART Modeller ESA PT have been designed to create seamless analysis, design
and detailing environments. SMART Modeller ESA PT software will directly
analyse Autodesk Revit Structure information, without the need to manually
manipulate the data. This helps maintain the integrity of the BIM.
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.39.41 |
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UK Pound |
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.58.56 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
N |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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. |
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 |
|