MIRA INFORM REPORT
|
Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
CAPGEMINI INDIA PRIVATE LIMITED (w.e.f. 07.09.2007) |
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Formerly Known
As : |
KANBAY SOFTWARE ( |
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Registered
Office : |
Sep-2, B-3, Godrej Industries Complex, Eastern |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
29.09.1992 |
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Com. Reg. No.: |
11-197069 |
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CIN No.: [Company Identification
No.] |
u72200mh1992ptc197069 |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
The company is engaged in the development of computer software. |
RATING & COMMENTS
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MIRA’s Rating : |
A (62) |
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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 63000000 |
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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.
Available information indicted high financial responsibility of the company. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitments. The company can be considered good for normal for business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Armin Billimoria |
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Designation : |
Finance Controller |
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Contact No.: |
91-22-67557000 |
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Date : |
11.04.2011 |
LOCATIONS
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Registered Office : |
Sep-2, B-3, Godrej Industries Complex, Eastern |
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Tel. No.: |
91-22-66421000 / 67557000 |
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Fax No.: |
91-22-25187100 |
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E-Mail : |
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Website: |
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Location : |
Leased |
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Branches : |
Located At: Kolkata Pune Chennai |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Cyprian Dsouza |
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Designation : |
Director |
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Address : |
A-53, Vrindavan Housing Society, Pashan, Pune-411008, |
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Date of Appointment : |
29.09.1992 |
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Name : |
Mr. Hubert Giraud |
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Designation : |
Director |
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Address : |
14, Rue, Barbette |
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Date of Appointment : |
05.09.2008 |
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Name : |
Mr. Baru Sreenivas Rao |
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Designation : |
Director |
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Address : |
Flat No. 305, 3rd Floor, Building No. 16, Indra Darshan
Phase I, Oshiwara, Andheri (W), Mumbai-400053, |
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Date of Appointment : |
05.09.2008 |
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Name : |
Mr. Gilles Taldu |
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Designation : |
Director |
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Address : |
5, Rue Malebranche, Paris France-75005 |
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Date of Appointment : |
05.09.2008 |
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Name : |
Mr. Salil Parekh |
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Designation : |
Director |
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Address : |
602, |
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Date of Appointment : |
22.03.2007 |
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Name : |
Mr. Pierre Yves Cros |
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Designation : |
Director |
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Address : |
Little ST Michaels West Heath, Oxted RH80QS, |
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Date of Appointment : |
05.09.2008 |
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Name : |
Mr. Philippe Grangeon Pierre |
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Designation : |
Director |
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Address : |
8 Rue Des Saints-Peres Paris-75007 |
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Date of Appointment : |
05.09.2008 |
KEY EXECUTIVES
|
Name : |
Ms. Armin Billimoria |
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Designation : |
Finance Controller |
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Address : |
R-17, Godrej Baug, Off |
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Date of Appointment : |
05.09.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Capgemini Financial Services International Inc., |
|
4504 |
|
Kanbay (Asia) Limited, |
|
251082 |
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Capgemini |
|
537081 |
|
Capgemini Holding Inc., |
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1 |
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Total |
|
792668 |
As on 30.09.2010
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Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in the development of computer software. |
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Terms : |
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Selling : |
Cash / Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash / Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
The Saraswat Co-Operative Bank Limited, Vikhroli Branch |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vasnat Gujarathi Chartered Accountant |
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Address : |
25 Veer Savarkar Marg, |
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Holding Company: |
Capgemini |
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Subsidiary: |
Pune Software Park Private Limited (U72300MH1988PTC047841) |
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Fellow Subsidiaries: |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14800000 |
Equity Shares |
Rs.100/- each |
Rs.1480.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
792668 |
Equity Shares |
Rs.100/- each |
Rs.79.267
Millions |
Note:
Of the above 537081 (Previous year 537081)
equity shares of Rs.100/- each, are held by the holding company, Capgemini US
LLC, 251082 (Previous year 251082) equity shares of Rs.100/- each are held by
the fellow subsidiary, Kanbay Asia Limited, 4504 (Previous year) equity shares
of Rs.100/- each are held by the fellow subsidiary, Capgemini Financial
Services International Inc., 1 (Previous year 1) equity shares of Rs.100/- each
is held by the fellow subsidiary, Capgemini Holding Inc.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
|
79.267 |
79.267 |
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2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
15793.920 |
9485.005 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
15873.187 |
9564.272 |
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LOAN FUNDS |
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|
|
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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DEFERRED GOVERNMENT GRANT SHARE CAPITAL SUSPENSE |
|
23.789 |
33.054 |
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TOTAL |
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15896.976 |
9597.326 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
3445.813 |
3622.728 |
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Capital work-in-progress |
|
855.331 |
732.200 |
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INVESTMENT |
|
170.776 |
170.776 |
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DEFERREX TAX ASSETS |
|
340.678 |
390.643 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
|
0.000
|
0.000 |
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Sundry Debtors |
|
3856.159
|
5668.196 |
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Cash & Bank Balances |
|
8553.256
|
3749.942 |
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Other Current Assets |
|
109.798
|
9.729 |
|
|
Loans & Advances |
|
2808.155
|
1033.413 |
|
Total
Current Assets |
|
15327.368
|
10461.280 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2396.684
|
2089.689 |
|
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Other Current Liabilities |
|
479.255
|
2517.266 |
|
|
Provisions |
|
1367.051
|
1173.346 |
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Total
Current Liabilities |
|
4242.990
|
5780.301 |
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Net Current Assets |
|
11084.378
|
4680.979 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
15896.976 |
9597.326 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
|
23694.303 |
23264.217 |
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Other Income |
|
1105.667 |
1279.825 |
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|
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TOTAL (A) |
|
24799.970 |
24544.042 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Costs |
|
13685.240 |
12515.103 |
|
|
|
Operating and Other Expenses |
|
6140.154 |
7591.167 |
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|
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TOTAL (B) |
|
19825.394 |
20106.270 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
4974.576 |
4437.772 |
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Less |
FINANCIAL
EXPENSES (D) |
|
0.065 |
1.022 |
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|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
4974.511 |
4436.750 |
|
|
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1038.476 |
1085.566 |
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|
|
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|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
3936.035 |
3351.184 |
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|
|
|
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|
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Less |
TAX (H) |
|
525.158 |
163.546 |
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|
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|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
|
3410.877 |
3187.638 |
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|
|
|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
8933.182 |
5745.544 |
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|
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|
|
|
|
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BALANCE CARRIED
TO THE B/S |
|
12344.059 |
8933.182 |
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
150.542 |
350.655 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
4303 |
5199 |
|
Expected Sales (2010-2011) : Rs.30000.000 Millions
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
13.75 |
12.99 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
16.61 |
14.40 |
|
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
20.97 |
23.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.25 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.27 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.61 |
1.81 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
Others |
2396.684 |
2089.689 |
|
Total |
2396.684 |
2089.689 |
Operation:
Total income during the year increased from INR 24,544 Millions to INR 24,800 Millions. As a result the company has reported a net profit of INR 3,411 Millions as compared to INR 3,188 Millions in the earlier year.
New units at
The Company has also constructed an additional building at
its campus at
Fixed Assets:
- Computer Software
- Computer Equipment
- Computer Software
- Furniture and Fixtures
- Office Equipments
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.44.20 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.