MIRA
INFORM REPORT
|
Report Date : |
12.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
CADS SOFTWARE |
|
|
|
|
Registered Office : |
43, Sowbarnikaa Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
19.03.1996 |
|
|
|
|
Com. Reg. No.: |
034854 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U30006TN1996PTC034854 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC02724B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Supplier of Construction Industry Software |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 12272 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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. The company be can considered for small to mediocre business dealings
with slight caution, in view of non-availability of financial details. |
LOCATIONS
|
Registered Office : |
43, Sowbarnikaa Complex, |
|
Tel. No.: |
91-44-28233681 / 28233682 / 3 / 4 / 28228183 / 4 |
|
Fax No.: |
91-44-28232349 |
|
E-Mail : |
|
|
Website : |
|
|
Head Office: |
Computer and Design |
|
|
|
|
Tel No.: |
44 -1202 603031 |
|
Fax No.: |
44 -1202 658549 |
|
|
|
|
UAE Office : |
CADS
International Computer |
|
E – Mail : |
|
|
Tel No.: |
971 4 3517330 |
|
Fax No.: |
971 4 3591633 |
|
|
|
|
|
CADS-USA, Inc. |
|
E – Mail: |
|
|
Tel No.: |
717-757-2025 / 800-470-4566 |
|
Fax No.: |
717-757-7095 / 800-511-4566 |
|
|
|
|
Branches : |
Tel No.:011-22442718 Mumbai – Tel No.: 91-22-26600456 Kolkatta – Tel No.: 91-33-23215386 |
DIRECTORS
|
Name : |
Mr. K.K. Jagadish |
|
Designation : |
Director |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Construction Industry Software |
|
|
|
|
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), |
|
|
|
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MBS and Company Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
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
|
SOURCES OF FUNDS |
|
31.03.2003 |
31.03.2002 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2.124 |
2.124 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.944 |
1.232 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.068 |
3.356 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
1.433 |
2.200 |
|
|
TOTAL BORROWING |
|
1.433 |
2.200 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.501 |
5.556 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3.488 |
4.228 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
2.754 |
3.495 |
|
|
Cash & Bank Balances |
|
|
|
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total
Current Assets |
|
2.754 |
3.495 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
Provisions |
|
1.750 |
2.173 |
|
Total
Current Liabilities |
|
1.750 |
2.173 |
|
|
Net Current Assets |
|
1.004 |
1.322 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.009 |
0.006 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.501 |
5.556 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2003 |
31.03.2002 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.57 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.57 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
As per Web Details
Company Profile:
Subject was established in 1996 and is based in the city of
The office was founded by and is managed by Mr K K
Jagadish. Subject global headquarters are located in the
Subject was established in the
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
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,
1] INFORMATION ON
DESIGNATED PARTY
No 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.39.31 |
|
|
1 |
Rs.80.12 |
|
Euro |
1 |
Rs.55.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
N |
|
--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 |
|