MIRA
INFORM REPORT
|
Report Date : |
06.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
DATAMATICS GLOBAL SERVICES LIMITED DATAMATICS LIMITED AMALGAMATED WITH DATAMATICS GLOBAL SERVICES LIMITED |
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Registered
Office : |
117/120, SDF IV, Seepz, Andheri (East), Mumbai-400096, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.11.1987 |
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Com. Reg. No.: |
045205 |
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CIN No.: [Company Identification
No.] |
L72200MH1987PLC045205 |
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Legal Form : |
A Public Limited Liability Company. The company’s Shares are listed on
stock exchange. |
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Line of Business
: |
The company is engaged in the export of software and business process
outsourcing (BPO) services. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
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 12000000 |
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Status : |
Satisfactory |
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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 satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitments. The company can be considered 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 DECLINED BY
MANAGEMENT NON CO-OPERATIVE.
LOCATIONS
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Registered Office/ Factory : |
117/120, SDF IV, Seepz, Andheri (East), Mumbai-400096, |
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Tel. No.: |
91-22-61020500/ 0504/ 67108514/ 61020000 |
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Fax No.: |
91-22-28291673/ 28291368/ 28343669 |
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E-Mail : |
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Website : |
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Corporate Office/ Factory 2 : |
Knowledge Centre, Street No. 17, MIDC, Andheri (East), Mumbai-400093, |
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Tel. No.: |
91-22-61020000/ 0009/ 1/ 2 |
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Fax No.: |
91-22-28343669 |
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Factory 3 : |
Unit No. 155, SDF V, Seepz, Andheri (East), Mumbai-400096, |
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Factory 4 : |
Unit No. 172, 189, 190A, 190B and 190C, SDF VI, Seepz, Andheri (East),
Mumbai-400096, |
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Branch Office 1 : |
Crompton House, 3 M.G.R. Salai ( |
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Branch Office 2 : |
Suyojit Datamatics Knowledge Centre, Unit No. S-1 to S-3, |
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Overseas Office 1 : |
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Overseas Office 2 : |
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Overseas office 3 : |
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Other Overseas offices: |
Located at: ·
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·
·
·
Auatralia |
DIRECTORS
As on 12.08.2010
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Name : |
Dr. Lalit S Kanodia |
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Designation : |
Chairman Cum Managing Director |
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Address : |
1201, Red Rose CHS Limited, 44, |
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Date of Birth/Age : |
30.03.1941 |
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Date of Appointment : |
03.11.1987 |
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Name : |
Mr. Rahul L Kanodia |
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Designation : |
Vice Chairman and Chief Executive Officer |
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Address : |
1201, Red Rose CHS Limited, 44, |
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Date of Birth/Age : |
25.11.1966 |
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Date of Appointment : |
22.02.2007 |
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Name : |
Mr. Vidur V Bhogilal |
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Designation : |
Executive Director and Chief Financial Officer |
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Address : |
B/10 |
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Date of Birth/Age : |
28.07.1970 |
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Date of Appointment : |
12.05.2005 |
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Name : |
Mr. Sameer L Kanodia |
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Designation : |
Executive Director |
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Address : |
1201, Red Rose CHS Limited, 44, |
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Date of Birth/Age : |
30.01.1975 |
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Date of Appointment : |
30.01.2008 |
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Name : |
Mr. Radhakrishna K Saraswat |
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Designation : |
Director |
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Address : |
6-A, |
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Date of Birth/Age : |
08.07.1939 |
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Date of Appointment : |
26.11.1998 |
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Name : |
Mr. Sudhir C Deshpande |
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Designation : |
Director |
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Address : |
104, Savali, Road No. 7, Wadala, Mumbai-400031, |
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Date of Birth/Age : |
30.04.1940 |
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Date of Appointment : |
17.12.2003 |
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Name : |
Mr. Shahzaad S Dalaal |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
01.12.1958 |
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Date of Appointment : |
06.11.2003 |
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Name : |
Mr. Habil L Khorakiwala |
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Designation : |
Director |
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Address : |
CASA Khorakiwala, Plot No. 31-E, |
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Date of Birth/Age : |
22.09.1942 |
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Date of Appointment : |
08.12.2005 |
KEY EXECUTIVES
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Name : |
Ms Divya Kumat |
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Designation : |
Vice President- Legal and Company Secretary |
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Address : |
E-104, |
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Date of Birth/Age : |
06.07.1967 |
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Date of Appointment : |
01.08.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
No. of Shares |
Percentage |
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(A) Shareholding of Promoter and Promoter Group |
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11,069,897 |
18.78 |
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31,813,742 |
53.97 |
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- |
- |
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42,883,639 |
72.75 |
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209 |
- |
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209 |
- |
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Total shareholding of Promoter and Promoter Group (A) |
42,883,848 |
72.75 |
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(B) Public Shareholding |
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185,990 |
0.32 |
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185,990 |
0.32 |
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2,650,541 |
4.50 |
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7,110,897 |
12.06 |
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5,988,397 |
10.16 |
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129,664 |
0.22 |
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129,664 |
0.22 |
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15,879,499 |
26.94 |
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Total Public shareholding (B) |
16,065,489 |
27.25 |
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Total (A)+(B) |
58,949,337 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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Total (A)+(B)+(C) |
58,949,337 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
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Line of Business : |
The company is engaged in the export of software and business process
outsourcing (BPO) services. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the Management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kanu Doshi Associates Chartered Accountant |
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Address : |
158, Udyog Bhavan, |
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Tel. No.: |
91-22-26863011/ 32914648/ 32016745 |
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Fax No.: |
91-22-26864385 |
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E-Mail : |
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Website: |
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Associates : |
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Holding Company : |
Delta Infosolutions Private Limited U72300MH1992PTC064911 |
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Subsidiaries : |
U99999MH1981PLC125014 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000000 |
Equity Shares |
Rs. 5/- each |
Rs. 500.000 Millions |
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30000000 |
Redeemable Preference Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
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Total |
|
Rs. 800.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
58949337 |
Equity Shares |
Rs. 5/- each |
Rs. 294.747
Millions |
Notes:
1. Out of the above, 28,480,000 (P.Y. 28,480,000) Equity Shares of Rs. 5/-
each have been allotted as fully paid Bonus Shares by capitalisation of General
Reserve and Share Premium.
2. Employee Stock Option Scheme - Refer Note No. 16 in Schedule ‘O’
3. Out of the above, 18,150,000 (P.Y. 18,150,000) equity shares of Rs.
5/- each are issued without consideration being received in cash.
4. Out of the above, 31,813,742 equity shares of Rs. 5/- each are held
by the Holding Company, Delta Infosolutions Private Limited.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
294.747 |
501.072 |
203.584 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2718.154 |
2559.416 |
2290.892 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3012.901 |
3060.488 |
2494.476 |
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LOAN FUNDS |
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1] Secured Loans |
39.161 |
86.050 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
39.161 |
86.050 |
0.000 |
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DEFERRED TAX LIABILITIES |
14.918 |
16.557 |
32.855 |
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TOTAL |
3066.980 |
3163.095 |
2527.331 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
725.478 |
773.531 |
345.221 |
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Capital work-in-progress |
64.677 |
25.834 |
37.815 |
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INVESTMENT |
1321.031 |
1587.070 |
1735.814 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
323.534
|
407.698 |
392.277 |
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Cash & Bank Balances |
63.855
|
136.253 |
14.544 |
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Other Current Assets |
0.000
|
2.979 |
2.706 |
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Loans & Advances |
822.052
|
629.138 |
119.521 |
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Total
Current Assets |
1209.441
|
1176.068 |
529.048 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
12.444 |
24.204 |
7.888 |
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Other Current Liabilities |
95.326
|
220.183 |
52.907 |
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Provisions |
145.877
|
155.021 |
59.772 |
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Total
Current Liabilities |
253.647
|
399.408 |
120.567 |
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Net Current Assets |
955.794
|
776.660 |
408.481 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3066.980 |
3163.095 |
2527.331 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Export Services |
1308.958 |
1591.751 |
674.424 |
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Other Income |
136.480 |
109.464 |
79.020 |
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TOTAL (A) |
1445.438 |
1701.215 |
753.444 |
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Less |
EXPENSES |
|
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|
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Operating Expenses |
970.342 |
1127.711 |
470.565 |
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Administrative Expenses |
132.823 |
165.472 |
67.918 |
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TOTAL (B) |
1103.165 |
1293.183 |
538.483 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
342.273 |
408.032 |
214.961 |
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Less |
FINANCIAL
EXPENSES/INTEREST (D) |
2.543 |
6.984 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
339.730 |
401.048 |
214.961 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
62.405 |
74.598 |
43.783 |
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PROFIT BEFORE
TAX (E-F) (G) |
277.325 |
326.450 |
171.178 |
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Less |
TAX (I) |
34.011 |
48.530 |
30.321 |
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PROFIT AFTER TAX
(G-I) (J) |
243.314 |
277.920 |
140.857 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
408.823 |
287.818 |
232.688 |
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Less |
APPROPRIATIONS |
|
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|
|
|
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|
Final Dividend on Equity Shares |
-- |
0.026 |
-- |
|
|
|
Tax on Final Dividend |
-- |
0.004 |
-- |
|
|
|
Proposed Dividend on Equity Shares |
73.687 |
73.643 |
30.537 |
|
|
|
Tax on Equity Dividend |
12.238 |
12.516 |
5.190 |
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|
|
Dividend on Preference Shares |
-- |
17.715 |
-- |
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|
|
Tax on Preference Dividend |
-- |
3.011 |
-- |
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
50.000 |
|
|
BALANCE CARRIED
TO THE B/S |
516.212 |
408.823 |
287.818 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1308.958 |
1591.751 |
674.424 |
|
|
|
Income in foreign currency – Interest |
0.102 |
0.296 |
0.301 |
|
|
TOTAL EARNINGS |
1309.060 |
1592.047 |
674.725 |
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IMPORTS |
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|
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Commission |
8.691 |
17.354 |
0.000 |
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|
|
Foreign Travel |
90.635 |
121.819 |
11.028 |
|
|
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Capital Goods |
1.451 |
9.151 |
8.156 |
|
|
|
Others |
6.987 |
24.368 |
2.208 |
|
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TOTAL IMPORTS |
107.764 |
172.692 |
21.392 |
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Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
4.13 |
4.37 |
|
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Diluted |
4.12 |
4.35 |
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QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2010 |
30.09.2010 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
314.860 |
336.700 |
|
Total Expenditure |
|
294.25 0 |
319.390 |
|
PBIDT (Excl OI) |
|
20.61 0 |
17.310 |
|
Other Income |
|
34.49 0 |
50.550 |
|
Operating Profit |
|
55.10 0 |
67.860 |
|
Interest |
|
0.40 0 |
0.800 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
54.700 |
67.060 |
|
Depreciation |
|
13.860 |
13.580 |
|
Profit Before Tax |
|
40.840 |
53.480 |
|
Tax |
|
4.920 |
6.250 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
35.920 |
47.230 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
35.920 |
47.23 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
16.83
|
16.34 |
18.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.19
|
20.51 |
25.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.33
|
16.74 |
19.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.11 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.10
|
0.16 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.77
|
2.94 |
4.39 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
- For Capital Goods |
7.295 |
8.199 |
4.448 |
|
- For Vendors |
0.987 |
2.909 |
3.322 |
|
- For Expenses |
4.162 |
13.096 |
0.118 |
|
Total |
12.444 |
24.204 |
7.888 |
BUSINESS
During the year, on a standalone basis, revenue declined from Rs.
1,701.21 million to Rs. 1,445.44 million. The consolidated revenue also reduced
from Rs. 3,106.92 million to Rs. 2,754.94 million. The standalone profit after
tax was at Rs. 243.31 million as against the previous years’ profit after tax
of Rs. 277.91 million. The consolidated profit after tax was Rs. 221.92 million
as against Rs. 275.35 million for the previous year.
DATAMATICS
DELIVERY CENTRE OF EXCELLENCE, NASHIK
The Datamatics Delivery Centre of Excellence at Nashik is housed in a
55,000-square feet building named as “Suyojit Datamatics Knowledge Centre”
situated on the Mumbai-Nashik highway. Its manpower strength has increased to
560 as on March 31, 2010.
This year too, the Centre saw repeated business and commendations from
the customers. The projects delivered from the Centre met 100% of their time
and quality objectives, and were managed seamlessly by teams based at Nashik,
Mumbai and
The Centre is ISO 27001 – certified for meeting information security and
management systems standards.
The Company has finalized the purchase of residential premises in Nashik
for guest house purposes of about 8,000 sq. ft.
INVESTMENT IN
OVERSEAS SUBSIDIARIES|
During the year, the Company infused capital of Rs. 56.24 million in
Datamatics Global Technologies Limited,
JOINT VENTURE
The Company’s Joint Venture Agreement namely Cybercom Datamatics
Information Solutions Limited incorporated in
IPO FUND
UTILIZATION
During the previous year and current year, the Company has capitalized
property at Nashik and its infrastructure development cost. The below stated
amount includes advance against capital expenditure of Rs. 64.677 Millions/-
(P. Y. Rs. 25.834 Millions/-) and the investment of Rs. 56.244 Millions/- (P.
Y. Rs. 4.780 Millions/-) made in Subsidiary at
MANAGEMENT
DISCUSSION and ANALYSIS REPORT
Overview
Corporations across the world are turning to innovation to increase
margins, introduce new products and hasten time to market. With lingering
caution about the economic recovery, corporations are serious in their efforts
to cut costs, generate cash, retain customers, increase productivity and
efficiency, while simultaneously staying prepared to exploit opportunities that
will arise when the economy recovers.
The Company has identified this switch in corporate strategies, and has
embarked on a “solutions strategy” to target customers worldwide. The Company
delivers solutions that address the customers' business challenges. These
solutions are built by integrating the organization's expertise in the
customers' business processes into Datamatics’ technology deployment
experience.
Process automation allows customers to eliminate overheads,
staff-related costs, expensive rework and end-user dissatisfaction.
Time-consuming, error-prone, labour-intensive functions are replaced by smart,
high-quality, effortless processes. Customers are increasingly demanding
solutions to improve operational efficiency, faster go-to-market, higher
employee productivity and maximized customer satisfaction Datamatics addresses
these market needs. The solutions often result in a cost saving of 25% to 50%.
Industry
Performance and Development Global IT Spend
According to the NASSCOM Strategic Review 2010, worldwide spend by
corporations on technology products and services is estimated to have reached
USD 1.5 trillion in 2009, a decline of 2.9% over 2008. However, it is expected
to grow to USD 1.9 trillion by 2013, at a compounded annual growth rate of
3.5%. In spite of the lower spend in 2009, the global corporations were
reported to be leveraging IT to drive organisation-wide efficiencies,
transformation and new business models.
Revenues earned by the Indian IT and BPO industry is estimated at USD
73.1 billion in 2010. Of this, 69% or USD 50.1 billion was contributed by
exports, up by 5.4% over 2009.
The NASSCOM Strategic Review 2010 expects the domestic IT-BPO revenues
to touch INR 1,088 billion in 2010, a growth of almost 8.5%. The higher level
of IT solutions adoption by Indian corporations is primarily due to the
competitive market conditions driven by increasing globalisation. Indian
corporations are seeking to improve competitiveness by adopting global best
practices, increasing productivity and cost savings, while staying agile.
Increased levels of IT spending make the domestic market lucrative.
The leading ICT market intelligence firm, International Data Corporation
(IDC)
Opportunities and
Threats
The NASSCOM Strategy Review 2010 points out that Global GDP, after
declining by 1.1% in 2009, is expected to increase by 3.1% in 2010, and 4.2% in
2011. Improving economic conditions signifying return of consumer confidence
and renewal of business growth, is expected to drive IT spending going forward.
IT services is expected to grow by 2.4% in 2010, and 4.2% in 2011 as companies
coming out of recession harness the need for information technology to create
competitive advantage.
Organizations now recognize IT’s contribution to economic performance
extending beyond managing expenditures. IT
and ITES export revenues are
estimated to gross USD 50.1 billion in FY 2010. Nasscom has estimated that
these exports are likelyto reach USD 225 billion by 2020.
They expect IT to play a significant role in reducing enterprise costs,
not merely by cost cutting but by changing
business processes, workforce practices and information use.
The Company is poised to ride this economic recovery with the plethora
of technology and business solutions that guarantee cost savings and make
business processes faster and leaner. A NASSCOM-Pricewaterhouse Coopers report
estimate the addressable market size of the DACH region (
The Company acquired the “Accelerated Business Support Systems” division
of Devoteam-Danet, Germany-based niche IT Services Company last year. This
acquisition has given the Company a firm foothold in the territory.
The global slowdown being caused by the current crisis in the financial
sectors and input costs rising in
There are also positive changes with the domestic market opening up and
more and more companies becoming global. The opportunities to partner with Indian
multinationals in the aviation, hospitality, financial services, pharma and
media space are now encouraging domains for Indian software firms to capitalize
on. The areas of work are becoming increasingly high-end even in the domestic
market and there is ample scope to develop solutions and Intellectual Property
for the domestic market that can find their way into the global market.
Planning for this, the Company is expanding and has incorporated two
wholly owned subsidiaries in
The Company recognizes that price alone cannot constitute a sustainable
long term competitive advantage. They believe that the principal competitive
factors in the business include the ability to effectively integrate onsite and
offshore execution capabilities to deliver seamless, scalable, cost-effective
services; increase scale and breadth of service offerings to provide one-stop
solutions; provide industry expertise to clients' business solutions; attract
and retain high-quality technology professionals and maintain financial
strength to make strategic investments in human resources and physical
infrastructure.
Six Sigma
Initiatives
This Six Sigma and Process Improvement initiative was started as part of
a strategy to make the Company a productive, high performance, cost-effective
organisation. Basic training and White Belt Training Programmes were
extensively conducted for all the employees. Since the launch of this
initiative in 2007, the Company completed 231 Six Sigma Projects and 933 Quick
Hit Projects. Discussion on Financial
and Operational performance for
the year 2009-10
During the year, the Company redeemed the preference shares amounting to
Rs. 206.50 million. This resulted in decrease in Share Capital of the Company
to Rs. 294.74 million from Rs. 501.07 million. The Company issued 35,000 equity
shares under the ESOP 2006 Scheme. The Reserves and Surplus were Rs. 2718.15
million in the current year as against Rs. 2559.41 million in the previous year.
This year, the Company’s consolidated revenues stood at Rs. 2754.94
million as compared to Rs. 3106.92 million in the previous year. Consolidated
other income for the year was at Rs. 131.13 million compared to Rs. 105.46
million in the previous year. Consolidated profits before tax for this year
were at Rs. 263.67 million as compared to Rs. 329.08 million in the previous
year. There is a reduction in top line this year due to the challenges faced on
account of economic recession combined with a sustained appreciation of the
rupee again st Euro, Pounds and Dollars. This also directly impacted the
profits.
The Net Block of Assets increased to Rs. 810.58 million in the current
year as against Rs. 801.26 million highlighting no significant movement in the fixed
assets. The Advances for Capital Expenditure increased to Rs. 90.48 million in
the current year as against Rs. 38.86 million in the previous year as a part of
the overall expansion plan of expanding the Nashik facility and purchase of
additional premises in Mumbai.
The Sundry Debtors decreased to Rs. 498.69 million in the current year
as against Rs. 635.69 million in the previous year due to focused efforts and
better collection strategies adopted by the Company.
The Net Current Assets increased to Rs. 999.85 million in the current
year as against Rs. 875.37 million in the previous year signifying no
significant movement for the same.
Contingent
Liabilities to the extent not provided for:
|
Particulars |
31.03.2010 Rs. In Millions |
|
a) Details of guarantees and sureties outstanding as at |
|
|
i) Guarantees given by Banks to Embassy Centre |
0.405 |
|
ii) Guarantees given by Banks to the Customs Authority |
1.134 |
|
iii) Guarantees given by Banks to UNFCCC, |
4.650 |
|
iv) Guarantees given by Banks to UNFCCC, |
-- |
|
b) Disputed Income Tax Liability |
6.031 |
|
c) Sales Tax |
0.229 |
|
d) Others |
5.434 |
Fixed Assets:
· Land
· Building
· Leasehold Premises
· Computers
· Air Conditioners
· Electrical Fittings
· Office Equipments
· Vehicles
· Furniture and Fittings
· Plant and Machinery
· Computer Software
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
L72200MH1987PLC045205 |
|
Name of the
company |
DATAMATICS GLOBAL SERVICES LIMITED |
|
Address of the
registered office or of the principal place of business in |
117/120, SDF IV, Seepz, Andheri (East), Mumbai-400096, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10027441 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Standard Chartered Bank, 90, |
|
Nature of
instrument creating charge |
Supplemental to
Unattested Memorandum of Hypothecation |
|
Date of
instrument Creating the charge |
05.10.2010 |
|
Amount secured by
the charge |
Rs. 120.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Credit Facility: Interest/
Commission – As agreed by and with the bank form time to time Terms of
Repayment As agreed by and
with the bank form time to time Margin As applicable, if
any Extent and
Operation of the charge The Bank is
having first charge on the security given by the company |
|
Short particulars
of the property charged |
Hypothecation by way
of first charge on all the stocks and book debts and movable fixed assets,
both present and future |
|
Date of
instrument modifying the charge |
31.03.2010 |
|
Particulars of
the present modification |
By present
modification, the existing charge of Rs. 88.000 Millions enhanced to Rs.
120.000 Millions against the security of hypothecation by way of first charge
on al the stocks and book debts and movable fixed assets, both present and
future. Now the credit facility constitutes of Export Bill Discounting,
Preshipment financing under Export orders, OD, Import- LC (unsecured), Bonds
and Gtees. |
AS PER WEBSITE
Company Overview:
Datamatics is a trusted partner to several Fortune 500
Companies globally for managing their End-to-end Application Life Cycle and
Business Critical Processes. Datamatics is a global IT and business
process outsourcing organization focused on delivering smart, next-generation
business solutions that help enterprises across the world overcome their
business challenges. These solutions leverage innovations in technology,
knowledge of business processes, and domain expertise to provide clients a
competitive edge.
As a strategic partner, Datamatics helps its
clients improve their business competitiveness and achieve operational
efficiencies. The benefits delivered by the Datamatics’ unique solutions
include accelerated time-to-market for new products and services, maximized
productivity and efficiency in business processes, shorter turn-around times
for service delivery and lower total cost of ownership.
Datamatics’ next-generation solutions and the services span:
A cross section of industries including
Banking and Finance, Insurance, Publishing,
Manufacturing, Research and Retail.
Varied business processes that transcend F and A, Enterprise Document
Management, Portal Management, Publishing Solutions, Application Development,
Support and Testing, Data warehousing and
Analytics, Engineering and Embedded solutions, Billing solutions,
Enterprise Content solutions.
Datamatics has a geographically diverse portfolio
of Fortune 500 client’s with a footprint across four continents-
Datamatics
Advantage
Datamatics is a trusted partner to many Fortune 500
Companies globally for managing their critical business processes and providing
enterprises a sustainable business edge. The Company leverages upon its
industry experience and technology expertise to effectively develop products
and create next-generation solutions that meet clients’ unique and
evolving business challenges.
Datamatics drives non-linear growth in
organizations by powering their business process automation, propelling both
their bottom-line and top-line growth. With deep focus on customer centricity,
the Company continues to help its clients to achieve and maintain competitive
advantage.
Leadership:
Dr. Lalit S.
Kanodia
Founder and Chairman
Dr. Lalit S. Kanodia, the founder and Chairman of Datamatics Group of
Companies is one of the pioneers in the Indian Software and Offshore Services
Industry. He founded Datamatics in 1975, prior to which he was instrumental in
setting up of Tata Consultancy Services in 1967.
As Chief Mentor at Datamatics, Dr Kanodia drives all innovation, new
product development and quality initiatives. His inspirational leadership has
led Datamatics to be conferred with various awards over the years, including
the Most Innovative Software Product Award, the International Asia Pacific
Quality Award and being ranked among the top 50 best managed outsourcing
vendors by 'The Black Book of Outsourcing'.
Dr. Kanodia is an Executive Member of NASSCOM, the apex body of the
IT-BPO industry in
After obtaining degree in engineering from
Rahul L. Kanodia
Vice Chairman and CEO
As Vice Chairman and Chief Executive Officer of Datamatics Global
Services Limited Mr. Rahul L. Kanodia leads all strategic and corporate
initiatives globally, leading to the long-term growth, profitability and
industry leadership of the organization. He has over 20 years of professional
experience and has held progressively senior and leadership positions.
In the recent years, his focus has been on creating and delivering the
next-generation business solutions to address customer's strategic and
operational challenges. Rahul has also been driving the go-to-market strategy of
a wide array of business solutions and Datamatics Global Services’ foray into
new geographies.
Academically, Rahul holds Bachelor degree from
Vidur Bhogilal
Chief Financial Officer
As Chief Financial Officer, Vidur leads the finance, legal and
secretarial, administration and taxation teams at Datamatics Global Services.
He plays a critical role in creating sustainable value for the organization
through successful mergers, acquisitions and joint venture partnerships. Vidur
played a pivotal role in the amalgamation of the IT services and BPO divisions
of the Datamatics Group. Before joining Datamatics, Vidur worked for
international organizations such as JM Morgan Stanley and Arthur Anderson,
amongst others. Vidur received his B.Com. from
Sameer L. Kanodia
Executive Director
Sameer drives various strategic initiatives, expansion plans and
go-to-market strategies and is actively involved in managing operations of the
company. He is also accredited with setting up Datamatics’ Global Delivery
Center of Excellence, thereby establishing the company’s single largest
facility under one roof.
He also led the team that set up and managed the first high-technology
scanning R and D centre at Datamatics to test the feasibility of optical
character recognition.
Sameer received his Bachelor of Science in Business Administration from
Bryant University, USA, with Marketing as a major, graduating with honors.
Sameer subsequently received his Masters in Business Administration from Bryant
University, USA, with Finance as a major. He has been serving on the Board of
Trustees at
Shreedhara Shetty
President and Head - Global Sales
Shreedhara leads the Global Sales team and drives initiatives to
strengthen sales processes, builds strong customer relationships and maximizes
customer centricity.
Shreedhara’s most recent stint was as Head – Global Sales with Sasken
Communication Technologies Limited Prior to which, he was with Wipro
Technologies for 19 years, where he built the ‘
Shreedhara is a Bachelor of Science from
Ramkumar Akella
President and Chief Operating Officer – IT Services
Ramkumar is responsible for key account management and driving new business
initiatives for the IT services. He has been instrumental in formulating
business strategies for the various IT services and solutions.
Ramkumar began his career as a management consultant with Accenture,
where over 12 years he advised clients across industries such as Oil and
Gas, Auto, Pharma, Manufacturing and Retail. He then set up Infosys BPO
business in Europe and was based in
Ramkumar obtained an engineering degree from IIT, Kharagpur and an MBA
from IIM,
Dr. C M Dwivedi
President and Global HR Head
A Ph.D. in Industrial Psychology, P.G Diploma in Guidance and
Counseling and a trained Lead Assessor of SEI P-CMM, Dr. Dwivedi has 25
years of professional experience in the areas of Human Resource Management in
leading organizations.
Prior to joining Datamatics Global Services Limited, Dr. Dwivedi was
Group Head – Human Resources with Financial Technologies Group and from July
1997 to Jan 2007, he was associated with Datamatics Group as Senior Vice
President and Head – Corporate HRD.
Dr. Dwivedi has been awarded the most coveted HR Professionals and HR
Leadership Awards, some of them include: Global HR Excellence Award, Super
Achiever Award,Young Scientist Award from Govt. of India etc. Under his
guidance, recently, Datamatics Global Services Limited also won the Global HR
Strategy Award. Dr. Dwivedi is a member of Governing Council of leading
Press Release:
Datamatics Technologies Limited Completes
Amalgamation, Renamed as Datamatics Global Services Limited
Positions itself as end-to-end IT and BPO solutions
provider to customers worldwide. Completes amalgamation of BPO and Software
group companies.
29 January 2009, Mumbai: Datamatics Technologies Limited (BSE: 532528, NSE: “DATATECH”), one of
India's leading Business Process Outsourcing Organizations, announced today
that it has successfully amalgamated with itself the operations of Datamatics
Limited, a Group company engaged in software services. The merged organization
has been renamed as Datamatics Global Services Limited, reflecting its global
customers and delivery capabilities.
Datamatics had announced that the BPO and software
services divisions would be amalgamated in June 2008. The systems, processes
and teams of both organizations are being integrated. As per the scheme of
amalgamation, shareholders of Datamatics Limited received 1.21 fully-paid up
equity shares of Datamatics Technologies Limited of Rs.5 each for every 1 fully
paid up equity share of Rs.10 each of Datamatics Limited. The new organization
has shown steady growth in consolidated revenue and net profits in the past few
quarters. With the amalgamation completed, Datamatics Global Services is
expected to show improved financial performances in the next few quarters as it
realizes the benefits of the merged entity and new business wins happen.
In view of the changes in the organization, the
senior management team has embarked on an intensive customer-interfacing
exercise that will last for a few weeks to brief senior executives at the
customer organizations about the benefits of collaborating with the new
organization.
Major customers and stakeholders of both the
erstwhile organizations have expressed their confidence in the strong
capabilities of the merged organization. A few existing customers have already
expanded the scope of work after seeing the benefits of partnering with an end-to-end
IT and BPO services provider. “We are now positioned as a “one-stop-shop”
offering end-to-end solutions spanning consulting, technology architectures and
business process management, including both IT and BPO services for global
customers. We have already seen benefits like better control on operations,
reduction of cost, better profitability, greater flexibility, stronger delivery
capability and other related benefits due to size and scale. We will pass on
the benefits to our customers adding to their competitive edge.” said Rahul L.
Kanodia, Vice Chairman and CEO.
“Customers are increasingly expecting offshore
service providers to transform their businesses. Our solutions can help customers'
businesses develop and launch platforms on which they can compete better. As a
one-stop solutions provider, we are now better positioned to meet these
requirements. In addition, we would see long-term advantages like wider range
of solutions, broader market reach, cross-leveraging of skills, higher R and D
focus and process efficiencies,” added Kanodia.
About Datamatics Global Services Limited:
Datamatics Global Services Limited is
Some of the statements in this update that are not
historical facts are forward-looking statements. These forward-looking
statements include our financial and growth projections as well as statements
concerning our plans, strategies, intentions and beliefs concerning our
business and the markets in which we operate. These statements are based on
information currently available to us, and we assume no obligation to update
these statements as circumstances change. There are risks and uncertainties
that could cause actual events to differ materially from these forward-looking
statements. These risks include, but are not limited to, the level of market
demand for our services, the highly-competitive market for the types of
services that we offer, market conditions that could cause our customers to
reduce their spending for our services, our ability to create, acquire and
build new businesses and to grow our existing businesses, our ability to
attract and retain qualified personnel, currency fluctuations and market
conditions in India and elsewhere around the world, and other risks not
specifically mentioned herein but those that are common to industry.
Datamatics Technologies
Limited - Scheme of Amalgamation/Others
Datamatics Technologies Limited has informed the Exchange that: The
Board of Directors of Datamatics Technologies Limited has unanimously approved
at its meeting held on June 25, 2008 the scheme of amalgamation and demerger of
Datamatics Limited and its associated Companies with Datamatics Technologies
Limited. All Transferee Companies and the Transferor Companies in the Scheme
are part of the same management. Further, in order to consolidate its domestic
operations, the scheme also provides for amalgamation of its subsidiaries
primarily engaged in domestic operations. As per the scheme of amalgamation,
shareholders of Datamatics Limited will receive 1.21 fully-paid up equity
shares of Datamatics Technologies Limited of Rs.5/- each for every 1 fully paid
up equity share of Rs. 10/-
each of Datamatics Limited. The scheme of amalgamation is pursuant to the
provisions of Sections 391 to 394 and other applicable provisions of the
Companies Act, 1956 and is subject to the approval of shareholders, creditors
and the High Court of Judicature,
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.45.20 |
|
|
1 |
Rs.70.27 |
|
Euro |
1 |
Rs.59.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.