MIRA
INFORM REPORT
|
Report Date : |
19.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INTEGRA SOFTWARE SERVICES PRIVATE LIMITED |
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Registered Office : |
51, II Cross, Jawahar Nagar, Nellithope, Pondicherry – 605005,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
15.03.2000 |
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Com. Reg. No.: |
59-1532 |
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CIN No.: [Company
Identification No.] |
U72300PY2000PTC001532 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEI02539F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business of Software services, data processing, IT
enabled services, data conversion and electronic publishing. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 920000 |
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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 and reputed company having fine track
record. Available information indicates high financial responsibility of the
company. Trade relations are fair. Business is active. Payments are reported
as usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
51, II Cross, Jawahar Nagar, Nellithope, Pondicherry – 605005,
Tamilnadu, India |
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Tel. No.: |
91-413-2201710 / 4212124 |
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Fax No.: |
91-413-2200477 |
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E-Mail : |
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Website : |
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Head Office : |
100 Feet East Coast Road, Pondicherry – 605008, Tamilnadu , India |
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Tel. No.: |
91-413-4212180 / 4212181 |
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Fax No.: |
91-413-4212190 |
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E-Mail : |
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Branches : |
Located at Chennai |
DIRECTORS
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Name : |
Mr. Sriram Subramanya |
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Designation : |
Chairman cum Managing Director |
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Address : |
6, 2nd Cross, Brindavan Colony, Pondicherry - 605013 |
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Date of Birth/Age : |
03.05.1966 |
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Date of Appointment : |
15.03.2000 |
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Name : |
Mrs. Anuradha Sriram |
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Designation : |
Joint Managing Director |
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Address : |
6, 2nd Cross, Brindavan Colony, Pondicherry – 605013 |
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Date of Birth/Age : |
10.09.1967 |
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Date of Appointment : |
15.03.2000 |
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Name : |
Mr. Ajeet Singh Karan |
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Designation : |
Director |
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Address : |
36, Sector 37, Arun Vihar, Noida – 201303, Uttar Pradesh, India |
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Date of Birth/Age : |
09.12.1965 |
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Date of Appointment : |
26.10.2006 |
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Other Directorship : |
ACE Wealth Management Private Limited CIN No.: U67190DL2005PTC142001 |
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Name : |
Mr. N Subramaniam |
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Designation : |
Director |
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Address : |
1401-B, Deverly Park, II, DLP Phase II, Gurgaon – 122002, Haryana,
India |
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Date of Birth/Age : |
02.08.1961 |
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Date of Appointment : |
26.10.2006 |
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Other Directorship : |
CIN No.: U72200TN2003PLC051138 Secova Eservices Limited CIN No.: U72900TN2001PTC048158 Maples ESM Technologies Private Limited CIN No.: U40101TN2005PTC058237 Auro Mira Energy Company Private Limited |
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Name : |
Mr. Rahul Bhasin |
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Designation : |
Director |
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Address : |
A-2/16, Safdurjans Enclave, New Delhi – 110029, India |
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Date of Birth/Age : |
09.03.1965 |
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Date of Appointment : |
26.10.2006 |
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Other Directorship : |
CIN No.: L30007KA1992PLC025294 Mphasis BFL Limited CIN No.: U72200TN2003PLC051138 Secova Eservices Limited CIN No.: L11100GJ1996PLC029880 Hindustan Oil Exploration Company Limited (Tr from Maharashtra) CIN No.: U24230MH2000PTC125061 Siro Clinpharm Private Limited CIN No.: U40101TN2005PTC058237 Auro Mira Energy Company Private Limited CIN No.: U74140KA2003PTC032950 Pharmarc Analytic Solutions Private Limited |
KEY EXECUTIVES
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Name : |
Mr. Sriram Subramanya |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. V. Chandrasekaran |
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Designation : |
Secretary |
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Address : |
76, 3rd Cross, Jawahar Nagar, Pondicherry - 605005 |
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Date of Birth/Age : |
15.06.1971 |
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Date of Appointment : |
05.01.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
|
No. of Shares |
|
Sriram Subramanya |
|
988000 |
|
Anuradha Sriram |
|
980000 |
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Subramanya Nagaswamy |
|
8000 |
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S. Kasthury |
|
8000 |
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S. Devanathan |
|
8000 |
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D. Vasantha |
|
8000 |
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Total |
|
2000000 |
As on 30.09.2006
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business of Software services, data processing, IT
enabled services, data conversion and electronic publishing. |
GENERAL
INFORMATION
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Customers : |
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Bankers : |
State Bank of India, Siruthozil Branch, Kamaraj Salai, Pondicherry –
605001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ganesan and Company Chartered Accountants |
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Address : |
23 Jawaharlal Nehru Street, Pondicherry – 605001, India |
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Associates/Subsidiaries : |
Integra Software
Services Inc. , USA Address : Suite No. 2098, Regus Business Center, 100, Ovelook Center,
2nd Floor, Princeton, NJ 08540, USA Mobile No.: 91-9176550584 Tel No.: 609 375 2382 Fax No.: 609 375 2001 Integra Software
Services Private Limited [UK] Address : Suite B 29,
Harley Street, London, UK WIG9QR |
CAPITAL STRUCTURE
As on 30.09.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2186047 |
Equity Shares |
Rs. 10/- each |
Rs. 21.860
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
20.000 |
20.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
210.918 |
115.588 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
230.918 |
135.588 |
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LOAN FUNDS |
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1] Secured Loans |
|
43.385 |
25.352 |
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2] Unsecured Loans |
|
2.712 |
2.712 |
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TOTAL BORROWING |
|
46.097 |
28.064 |
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DEFERRED TAX LIABILITIES |
|
3.467 |
2.680 |
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TOTAL |
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280.482 |
166.332 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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46.283 |
48.322 |
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Capital work-in-progress |
|
93.632 |
30.668 |
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INVESTMENT |
|
7.913 |
7.643 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
22.959 |
22.814 |
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Sundry Debtors |
|
61.033 |
45.739 |
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Cash & Bank Balances |
|
66.483 |
46.663 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
15.334 |
8.289 |
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Total
Current Assets |
|
165.809 |
123.505 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
27.952 |
19.570 |
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Provisions |
|
5.203 |
24.236 |
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Total
Current Liabilities |
|
33.155 |
43.806 |
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Net Current Assets |
|
132.654 |
79.699 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
280.482 |
166.332 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
|
241.041 |
180.819 |
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Other Income |
|
1.652 |
6.234 |
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Total Income |
|
242.693 |
187.053 |
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Profit/(Loss) Before Tax |
|
98.147 |
67.313 |
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Provision for Taxation |
|
2.817 |
1.204 |
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Profit/(Loss) After Tax |
|
95.330 |
66.109 |
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Earnings in Foreign Currency : |
|
241.041 |
180.819 |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
|
63.917 |
49.767 |
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Managerial Remuneration |
|
1.695 |
1.695 |
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Payment to Auditors |
|
0.071 |
0.076 |
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Interest |
|
0.795 |
0.760 |
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Insurance Expenses |
|
0.739 |
0.435 |
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Power & Fuel |
|
0.201 |
1.549 |
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Depreciation & Amortization |
|
10.030 |
14.629 |
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Other Expenditure |
|
67.100 |
50.828 |
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Total Expenditure |
|
144.548 |
119.739 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
|
39.28 |
35.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
40.72 |
37.23 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
46.28 |
39.17 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.43 |
0.50 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
0.34 |
0.53 |
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Current Ratio (Current Asset/Current Liability) |
|
|
5.00 |
2.19 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U72300PY2000PTC001532 |
|
Name of the
company |
INTEGRA SOFTWARE SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
51, II Cross, Jawahar Nagar, Nellithope, Pondicherry – 605005, India |
|
Particular of
charge holder |
State Bank of India, Siruthozil Branch, Kamaraj Salai, Pondicherry –
605001, India |
|
Amount secured by
the charge |
Rs. 22.500
Millions |
|
Description of
the property charged indicating whether it is a charged on |
|
|
Particulars of
the property charged |
Stock, Debtors,
Plant and Machinery, Furniture of the company situated at 51, 2nd
Cross, Jawahar Nagar, Pondicherry and 135/4, A35/5 100 Feet Road [ECR] ,
Pakkamudayanpet, Pondicherry |
|
Charge
identification number of the charge to be modified |
80011253 |
|
Brief description
of the instrument modifying the charge under section 135 |
Letter from SBI,
Siruthozil Branch Pondy dated 14.09.2006 for release of title deeds of Land
and Building situated at Saram R S No. 1335/5 and 135/4 Consequent upon
closure of FCNRB TL$ 1.1 MIO |
|
Date of
instrument modifying the charge |
14.09.2006 |
AS PER WEBSITE
Profile
Integra Software is providers of
content transformation and content management solutions to almost all the
leading global publishers and typesetters across North America and Europe.
Integra delivers efficient end-to-end content management solutions across the
globe, to enable the valued customers meet their ever-growing business
requirements.
With over a decade of experience
in this field and redefined the ways of providing total customer satisfaction,
Integra has emerged from a team of 5 in 1994 to over 800 professionals today.Integra
specializes in providing full service project management, e-publishing for
books and journals, data conversion services, archival solutions and a host of
value added services.
Headquartered in Pondicherry,
India, Integra has its Global Service Delivery Centers at Pondicherry and
Chennai, India and services its customers through wholly owned subsidiaries in
the UK and USA.
Core Differentiators
- Ability
to offer end-to-end Solutions - Copyediting, Typesetting, Project
Management, Graphics, Indexing, XML, Data conversion and eLearning
- Wide
expertise in handling various complexities of STM, HSS, Professional,
Trade and Educational books / journals
- Technical
as well as language copyediting for STM, HSS, Professional, Trade and
Educational Books and Journals
- Using
the latest technological developments in the desktop publishing process -
handling complex coding requirements, DTD development, FrameMaker, Quark
Express, Indesign and Tex/Latex. First company in India to handle indexing
services
- Dedicated
full service / Project management team for Books
- Journal
administration / Issue management / Pre-press management team for Journals
- Expertise
in multi-lingual typesetting
- Customer
focused Delivery Units, acting as an extended arm of the clients
Credentials
Integra bagged the prestigious IT
Exporter award twice in a row for the years 2002 & 2003 from MAIT - New
Delhi, India. Integra has been selected ahead of all other companies, on the
basis of the excellence in export performance, track record, quality, best
business practices, innovative human relation policies and skill development.
Mr.
Sriram Subramanya
With Mr. Sriram Subramanya Founder, MD and CEO, Integra's core management
group consists of professionals with several years of experience in the IT industry.
This group is backed by a team of around 800 highly qualified professionals,
working together effectively with a willingness to explore new ideas and learn
endlessly, setting exceptional standards of performance and productivity,
creating and enhancing value for the clients. Sriram Subramanya has a B.S. in
Engineering with around 15 years of experience in various senior positions. He
is a proven leader and entrepreneur. In 1994, he co-founded Integra along with
Anuradha Sriram.
Mrs.
Anuradha Sriram
Mrs. Anuradha Sriram Co-founder and JMD has a
Bachelor's degree in Engineering and a Master's degree in Management. She has
also been actively involved in the successful growth of Integra. Her core
strengths are technology and finance.
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 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.40.62 |
|
UK Pound |
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.64.09 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 |
|