MIRA
INFORM REPORT
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Report Date : |
07.01.2011 |
IDENTIFICATION DETAILS
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Name : |
CELSTREAM TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known
As : |
CELSTREAM TECHNOLOGIES LIMITED |
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Registered
Office : |
Prestige Blue Chip, Block II, 9, Hosur Road, Bangalore-560 029,
Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
20.04.2000 |
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Com. Reg. No.: |
08-26960 |
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CIN No.: [Company Identification
No.] |
U72900KA2000PTC026960 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRC01598C |
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PAN No.: [Permanent Account No.] |
AABCC3210G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of providing product
engineering services to leading technology firms in industries such as
Communications, Computers, Electronics and Media. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 990000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct 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
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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
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Name : |
Mr. Satyanand |
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Designation : |
Finance Department |
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Contact No.: |
91-80-41191919 |
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Date : |
31.12.2010 |
LOCATIONS
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Registered Office : |
Prestige Blue Chip, Block II, 9, Hosur Road, Bangalore-560 029, |
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Tel. No.: |
91-80-41191919/41191908 |
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Fax No.: |
91-80-41191900 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft. [Owned] |
DIRECTORS
As on 29.09.2009
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Name : |
Mr. Brijesh Wahi |
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Designation : |
Managing Director |
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Address : |
862-B, 13th |
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Date of Birth/Age : |
05.10.1956 |
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Date of Appointment : |
25.07.2000 |
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Name : |
Mr. Jean- Charies Hourcade |
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Designation : |
Director |
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Address : |
1, Rue De Rivoli, Paris-75004, |
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Date of Birth/Age : |
26.01.1957 |
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Date of Appointment : |
27.08.2003 |
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Name : |
Mr. Naresh Victor |
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Designation : |
Director |
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Address : |
306, Dev Kiran Apartment, |
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Date of Birth/Age : |
16.04.1964 |
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Date of Appointment : |
25.02.2009 |
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Name : |
Mr. Ranga Raj B K |
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Designation : |
Director |
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Address : |
313, Shineon Block3, 32, Rahjat Bagh, C V Raman Nagar, Bangalore-560
093, |
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Date of Birth/Age : |
13.08.1963 |
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Date of Appointment : |
25.02.2009 |
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Name : |
Mr. D. Rajagopalan |
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Designation : |
Director |
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Address : |
32/1, 4th |
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Date of Birth/Age : |
17.10.1951 |
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Date of Appointment : |
30.06.2008 |
KEY EXECUTIVES
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Name : |
Mr. Chris Kizzier |
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Designation : |
President - Us Operations |
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Name : |
Mr. Brian Currie |
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Designation : |
President - |
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Name : |
Mr. Nithianand R |
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Designation : |
Vice President - Engineering
Services (Print & Publishing) |
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Name : |
Mr. N. Sreenivasa Rao |
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Designation : |
Vice President - Engineering
Services (Media & Entertainment) |
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Name : |
Mr. Sethunathan T S |
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Designation : |
Vice President – Central
Engineering |
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Name : |
Mr. Greg D'souza |
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Designation : |
Vice President - Human Resources |
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Name : |
Mr. K. Sriraman |
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Designation : |
Vice President - Commercial |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Brijesh Wahi |
|
346800 |
|
Kunal Kashyap |
|
100000 |
|
Hanen Holdings
Limited, |
|
212120 |
|
Bernadette Wahi |
|
340976 |
|
CTPL Senior
Executives |
|
346800 |
|
Manjunath
B S |
|
560 |
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Sunil
Babu H S |
|
560 |
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John
Abraham |
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5625 |
|
B K
Ranga Raj |
|
21000 |
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ICICI
Trusteeship Services Limited Account ICICi emerging Sectors |
|
86700 |
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Gurudutt
N Talgery |
|
1625 |
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Naresh
Victor |
|
30265 |
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R
Nithianand |
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1625 |
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Krishnan
K |
|
1125 |
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N C Sriraman |
|
1500 |
As on 29.09.2009
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Equity Share Breakup |
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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] |
|
37.14 |
|
Bodies
corporate |
|
12.51 |
|
Directors
or relatives of directors |
|
22.15 |
|
Other
top fifty shareholders |
|
25.53 |
|
Venture
Capital |
|
2.67 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing product
engineering services to leading technology firms in industries such as Communications,
Computers, Electronics and Media. |
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Exports : |
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Products : |
Software Services |
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Countries : |
US |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Individual |
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No. of Employees : |
300 [Approximately] |
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Bankers : |
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Banking
Relations : |
- |
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Financial Institutions: |
Housing Development Finance Corporation Limited, Ramon
House 169 Backbay Reclamation, H T
Parekh Marg, Mumbai - 400020, |
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Auditors : |
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Name : |
S. R. Batliboi and Company Chartered Accountants |
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Address : |
UB city, Canberra Block, 12th and 13th Floor,
No.24, Vittal Mallaya road, Bangalore-560 001, |
CAPITAL STRUCTURE
As on 29.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.5/- Each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3252000 |
Equity Shares |
Rs.5/- Each |
Rs.16.260
millions |
Note:
10, 83,000 shares of
Rs.5/- each (2007: Nil) bought back during the year
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
16.260 |
21.675 |
21.675 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
232.030 |
243.963 |
222.488 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
248.290 |
265.638 |
244.163 |
|
|
LOAN FUNDS |
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
248.290 |
265.638 |
244.163 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
58.553 |
33..751 |
45.787 |
|
|
|
273.706
|
186.645 |
206.885 |
|
|
|
332.259 |
220.396 |
252.672 |
|
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Capital work-in-progress |
0.714 |
20.366 |
4.960 |
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INVESTMENT |
0.000 |
114.016 |
97.983 |
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DEFERREX TAX ASSETS |
3.997 |
1.938 |
4.370 |
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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 |
126.519
|
71.638 |
83.336 |
|
|
Cash & Bank Balances |
103.962
|
69.835 |
73.232 |
|
|
Other Current Assets |
4.898
|
3.529 |
4.358 |
|
|
Loans & Advances |
38.327
|
41.643 |
45.959 |
|
Total
Current Assets |
273.706
|
186.645 |
206.885 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
51.054
|
59.191 |
70.750 |
|
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Other Current Liabilities |
3.099
|
0.619 |
7.670 |
|
|
Provisions |
34.527
|
31.268 |
37.402 |
|
Total
Current Liabilities |
88.680
|
91.078 |
115.822 |
|
|
Net Current Assets |
185.026
|
95.567 |
91.063 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
248.290 |
265.638 |
244.163 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
499.864 |
524.967 |
|
|
|
Re-imbursement of Expenses |
|
35.333 |
42.302 |
|
|
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Other Income |
|
26.306 |
6.931 |
|
|
|
TOTAL (A) |
713.500 |
561.503 |
574.200 |
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
392.957 |
311.253 |
315.703 |
|
|
|
Operating and other Expense |
219.459 |
177.470 |
183.864 |
|
|
|
TOTAL (B) |
612.416 |
488.723 |
499.567 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
101.084 |
72.780 |
74.633 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.300 |
1.531 |
1.746 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
98.784 |
71.249 |
72.887 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.504 |
26.868 |
29.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
68.280 |
44.381 |
42.904 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.490 |
9.085 |
5.269 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
61.790 |
35.296 |
37.635 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
177.650 |
156.180 |
147.666 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.180 |
0.000 |
3.763 |
|
|
|
Proposed Dividend |
0.00 |
0.00 |
21.675 |
|
|
|
Interim Dividend |
16.260 |
2.170 |
0.000 |
|
|
|
Tax on Proposed Dividend |
2.760 |
0.370 |
3.684 |
|
|
BALANCE CARRIED
TO THE B/S |
214.770 |
177.650 |
156.180 |
|
|
|
|
|
|
|
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|
|
IMPORTS |
18.461 |
4.378 |
15.242 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.02 |
9.20 |
8.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
PAT / Total Income |
(%) |
8.66
|
6.29 |
6.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
N A
|
8.88
|
8.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.55
|
20.14 |
16.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.17 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.36
|
0.34 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.09
|
2.05 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs in Millions
|
PARTICULARS |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
|
|
|
|
|
Sundry creditors for goods, expenses and services |
51.054
|
59.191 |
70.750 |
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Nature
of Operations
Subject
was set up in April 2000. The Company is engaged in the business of providing product
engineering services to leading technology firms in industries such as
Communications, Computers, Electronics and Media. Based out of
Effective January 9, 2009, the Company has become a private
limited Company.
OVERVIEW
OF OPERATIONS
The Company has focused its business development and
engineering efforts on select vertical markets in Product Engineering Services.
The focus vertical markets are Media and Entertainment, Print and Publishing
and Consumer and Telecom. The total revenue earned by the Company during this
period was Rs. 713.50 Million (Rs. 561.50 Million during the previous year) and
the Operating Margin was slightly higher at Rs. 98.78 Million as against Rs.
71.25 Million, during the previous year, which was mainly due to the US Dollar
appreciating against the Indian Rupee.
FUTURE
OUTLOOK
Despite the impact of the global recession experienced by
the industry, the Company continues to grow. The Company has taken appropriate
measures to counter the recessionary impact with diversification of its service
offerings and customer base and will maintain its efforts towards improving
cost efficiency. The Company will continue to focus on both diversification and
expansion of markets, while managing margins through enhanced efficiency,
competitive pricing and judicious cost saving.
Bankers Charges
Report as per Registry
|
Name of the company |
CELSTREAM
TECHNOLOGIES PRIVATE LIMITED |
|
Presented By |
CELSTREAM TECHNOLOGIES
PRIVATE LIMITED AND SOCIETE GENERALE |
|
1) Date and description of instrument creating the change |
December 02,2003
supplementary agreement of hypothecation |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.33.450
millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge on all
the present and future current assets and book debts on account of sale made
by Celstream Technologies Private Limited |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1. first charge
on all the present and future current assets and Book Debts on account of
sale made by Celstream Technologies Private Limited 2. Interest
charged at monthly rests on the outstanding in the account opened at the rate
to be determined by the bank subject to changes in the Bank’s Prime leading
rate and/or changes in interest rates prescribed by the Reserved Bank of |
|
5) Name and Address and description of the person entitled to the charge. |
Society General,
Maker Chambers, IV, 13th floor, P. O. Box 11635, Nariman Point,
Mumbai-400 021, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
April21,2005 Supplementary agreement of Hypothecation |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
By the above-
referred agreement dated April 21, 2005 the amount secured by charge stands
increased from Rs.33.450 millions to Rs.45.000 millions. |
|
Corporate
identity number of the company |
U72900KA2000PTC026960 |
|
Name of the
company |
CELSTREAM
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Prestige Blue Chip, Block II, 9, Hosur Road, Bangalore-560 029, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others Pledge of
investment - shares held in subsidiary |
|
Particular of
charge holder |
Housing Development Finance Corporation Limited, Ramon
House 169 Backbay Reclamation, H T
Parekh Marg, Mumbai - 400020, |
|
Nature of
description of the instrument creating or modifying the charge |
Share Pledge
Agreement-Through this agreement the investment in 1600 Equity shares of
Rs.100/- each held in the share capital of Trilux Electric Private Limited
(The wholly owned subsidiary of the Company) |
|
Date of
instrument Creating the charge |
27.08.2009 |
|
Amount secured by
the charge |
Rs.184.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The applicable
rate of as on date is 13.50 % per annum as per terms of facility agreement
dated 24th August 2009. Terms of
Repayment Repayable in two
Trenches - Trench-I Rs.60
millions 120 monthly installments consisting of 119 Equated
Monthly installments of Rs.0.910
million each and one last installment Rs.18,26,606/- Trench -II-
Rs.124.500 millions in 120 monthly installments consisting of; 119 Equated
Monthly installments of Rs.1.900 millions each and one last installment Rs.0.848 millions Margin Not applicable Extent and
Operation of the charge Charge of the
shares is exclusive charge given to HDFC by way of pledge to secure the
repayment of loan and interest thereon. |
|
Short particulars
of the property charged |
The investment in
1600 equity shares of Rs. 100/- each held in the share capital of Trilux
Electric Private Limited, the Original share certificates have been delivered
to HDFC Limited for creation of pledge. |
Fixed Assets:
·
Building
·
Leasehold Improvements
·
Computer Equipment
·
Office Equipment
·
Furniture and Fixtures
·
Vehicles
AS PER WEBSITE DETAILS
MANAGEMENT
BOARD OF DIRECTORS
JEAN-CHARLES HOURCADE
– CHAIRMAN
Jean-Charles Hourcade has been a Director on the Board of Celstream since 2003.
He is a distinguished member of several worldwide technology standards
committees. He is prominent in the technology circles of the Media & Entertainment
industry. A visionary, he was earlier Senior Executive Vice President,
Technology Division and the Chief Technology Officer of Thomson
BRIJESH WAHI -
MANAGING DIRECTOR
Brijesh Wahi is a successful entrepreneur, with over 25 years of experience in
managing high technology businesses and companies. Brijesh founded Celstream in
2000. He has extensive senior management experience in Engineering Services
Outsourcing (ESO), and over the last 12 years has established and led highly
successfully product engineering teams and businesses. Brijesh’s experience in
partnering with Fortune 500 companies, strong leadership skills and business
ethics have helped pilot Celstream since inception.
Before Celstream, as former Managing Director of Tektronix in
D. RAJAGOPALAN –
DIRECTOR
D. Rajagopalan is a Corporate Lawyer and a Professional
Director on the Board of Celstream. He holds a Bachelor’s degree in Law and is
a Fellow Member of the Institute of Company Secretaries of India. He also holds
a Bachelor’s degree in Science and a Post Graduate diploma in Economics from
NARESH VICTOR –
EXECUTIVE DIRECTOR
Naresh Victor has over 20 years of diverse management experience in
high-technology industries. As a key member of the core start-up team, he has
been with Celstream since inception in 2000, serving in various capacities in
the Senior Leadership Team. Naresh has been instrumental in leading strategic
change, while providing operational continuity across our various customer
engagements. He has led the Marketing, Sales and Finance functions,
institutionalizing key growth initiatives and facilitating profitable
operations.
Prior to joining Celstream, Naresh was General Manager –
South Asia for the Grass Valley Group and established their
RANGA RAJ, CHIEF
TECHNOLOGY OFFICER
Ranga Raj has 22 years of rich and varied experience in products and services in the IT, Media, CE and the Telecom Industries. He has been with Celstream since its inception and his areas of interest are Convergence, Cross Media workflows, Narrowcasting and management systems. Raj provides direction to Celstream’s technology, domain & industry capability so as to align with our customers’ strategic product initiatives and goals. Prior to Celstream, Raj was with Tektronix Engineering Development India and Digital India. He has authored and presented several papers at various global events/conferences. He is a chartered member of TiE and mentors entrepreneurs and intrepreneurs. Raj holds a Bachelors’ Degree in Physics and an Engineering Degree from IISC Bangalore.
SENIOR LEADERSHIP
TEAM
CHRIS KIZZIER,
PRESIDENT -
Chris Kizzier has over 32 years of experience in high technology product
development across various
Earlier, Chris was the Senior Program Manager at Sequent Computers, responsible
for Sequents' Offshore Engineering Program. Prior to Sequent, Chris spent 14
years with Hewlett Packard, and was involved in bringing HP's PA-Risc
architecture to market by making extensive use of engineering services from both
BRIAN CURRIE,
PRESIDENT -
Brian Currie has over 31 years of experience in Senior Management positions,
leading high technology companies in Australia & New Zealand. Brian joined
Celstream in 2001 and is responsible for business development and managing our
customer relationships in
Prior to joining Celstream, Brian was the Director of Harbour Consulting
Australia, an integrated HR solutions company and Managing Director of Michelago
NITHIANAND R, VICE
PRESIDENT - ENGINEERING SERVICES (PRINT & PUBLISHING)
Nithianand has over 26 years of experience in the Software Industry spanning
Software Development, Systems Integration, Networking, Embedded Systems and
Hardware Design. Nithi has been with Celstream since its inception. As a member
of the Senior Leadership Team, Nithi leads our Print & Publishing Delivery
Unit. His extensive expertise in Technology, Project, People & Resource and
Customer Relationship Management, enables us to successfully meet our customers’
product development goals. His experience also provides Celstream with the
strategic vision required to realize our growth plans in the Print &
Publishing domain.
Nithi was earlier with Tektronix and CMC. He holds a Bachelor’s Degree in
Electronics & Communications from REC Trichy.
N. SREENIVASA RAO,
VICE PRESIDENT - ENGINEERING SERVICES (MEDIA & ENTERTAINMENT)
Sreenivasa Rao (‘NSR’) has 20 years of varied technical and management
experience in the Software Industry, encompassing a wide variety of roles and
responsibilities. NSR joined Celstream in 2004 and leads the Media &
Entertainment Delivery Unit. His experience with hi-technology products
provides our engineering teams with the strategic direction required to meet
our customers’ technology and business needs. As a member of the Senior
Leadership Team, NSR plays a vital role in enabling structured growth of our
M&E vertical.
Prior to joining Celstream, NSR had a long stint with Hewlett Packard where he
played multiple managerial roles. He holds a Bachelor’s degree in Computer
Science from REC Trichy. NSR also holds a patent for his work on Diagnostic
Systems for Distributed Data Access Network System.
SETHUNATHAN T S, VICE
PRESIDENT – CENTRAL ENGINEERING
Sethunathan has over 33 years of varied technical and management experience in
the Aerospace, Networking and Broadcasting industries. Sethu has been with
Celstream since its inception. In his current role, Sethu is responsible for
Quality, Information Systems Competency Development and Engineering Resource
Pool Management. He ensures our customers have consistent and quality
deliverables through excellence in engineering operations. He also ensures that
we have the right competencies to meet current and forthcoming business needs.
Prior to Celstream, Sethu was with ISRO Satellite Centre (Department of Space),
where he was a Project Manager for the INSAT 2 program. Sethu holds a
Bachelor’s degree in Electronics Engineering and a Master’s degree in Computer
Science Engineering from the Indian Institute of Technology,
GREG D'SOUZA, VICE
PRESIDENT - HUMAN RESOURCES
Greg D’Souza has over 22 years of Human Resource Management experience in
the technology world. His strong people management expertise spans Staffing,
Compensation and Benefits, Employee Relations, Training and Development and
Organizational Development. As a member of the Senior Leadership Team since
2005, Greg leads our HR function and provides strategic and tactical support to
our engineering organization in the attraction, retention and development of
talent.
Prior to joining Celstream, Greg was Vice President – HR, with vMoksha
Technologies. He has also worked with large multinational companies including
IBM, i-flex, Tektronix and Deutsche Software. Greg has a Post-Graduate degree
in Personnel Management from the
K. SRIRAMAN, VICE
PRESIDENT – COMMERCIAL
Sriraman has 29 years of varied experience in the technology industry spanning
critical functions such as Operations, Sourcing, Sales and Administration. He
has been with Celstream since its inception and is a member of the Senior
Leadership Team. At Celstream, Sriraman’s responsibilities encompass Sourcing,
Logistics and Infrastructure development, which ensures that we have the
required development environment to enable smooth delivery.
Prior to joining Celstream Sriraman was the General Manager – Commercial, at
Tektronix
NEW PRODUCT DEVELOPMENT (NPD)
For a New Product
Development activity to succeed vis-à-vis its time and cost objectives,
the co-development partner has to efficiently manage three crucial parameters
viz., “scope”, “schedule” and “resource”. Any deviation in one parameter will
result in a manifold increase in cost and time. The challenge is to partner
with a Product Development
specialist who has the wherewithal and the ideal combination of Product Engineering experience and Software Development expertise, to
give you the desired results.
Celstream, a global Offshore
Software Development Company
and an ideal product co-development partner, has a rich heritage of developing
new products for global customers in diverse industries and domains. Their
expertise stretches across the entire lifecycle of NPD. They understand the
dynamics and challenges involved in building a product from scratch. Being a
product creation and sustenance company, they possess core competencies in:
·
Product ideation
·
Requirements definition and analysis
·
Prototype development
·
Design and development of the new
product
·
Testing and QA
·
Maintenance
A key reason for their successful NPD ventures has been their reliance on methods and processes that
have been distilled through years of experience across various domains. Their
understanding of the dynamics of the NPD
process enables them to evolve complete products from unstructured
specifications. They understand the intricacies and special needs of product
development, such as: evolvability, maintainability, scalability, internationalization/localization,
ease of use, ease of installation. They have coordinated with their customers
in driving the entire NPD program, including interacting with end-users and
suggesting product roadmaps.
This collective experience shapes the NPD services they offer you and
enables in mitigating risk, improving quality, achieving the desired cost
benefit and meeting the overall product roadmap goals for the NPD initiatives.
Leveraging the experience and expertise, they are able to give you the desired
focus, discipline and commitment for driving the product to new levels of
performance and functionality.
Some of their successful NPD stories include:
·
Management software product for the Print Industry
·
Software
product development for rich-media content distribution for the Transportation
industry
·
A product to enable
business-to-business Intelligent Network Services between enterprises
·
File Synchronization software product
for Personal Storage
Their success in the new product domain has been a result of
their:
·
Understanding of product strategies and
access to specialized skills
·
Transparent engagement models that
gives a ring-side view of the project
·
Product
development collaboration methodology, which provides up-to-date project
status communication allowing quick decisions to be taken
·
Proven processes that enable delivery
of rugged quality and predictability of delivery
NEWS AND EVENTS
Celstream’s product engineering engagement
models fuel the development of innovative, high-quality products; support
greater accountability and collaboration
Shrinking R&D budgets as a result of
the global economic downturn demand greater efficiency; predictability and
control over development costs
“Today’s R&D budgets are undergoing close scrutiny, as companies strive to
emerge from the economic crisis, stronger and more competitive,” said Anand
Kuppuswamy, Corporate Manager - Marketing and Strategy, Celstream. “Traditional
engagements based on fixed price, or time and materials are ceasing to exist as
companies recognize the need for parity between product development costs and
derived value. To minimize costs, speed time-to-market, and develop highly
customized products and solutions, technology companies are turning to product
engineering engagement models, like those offered by Celstream, which are based
on shared business risk and offer ‘pre-developed’ design platforms, reusable
assets and technology licensing capabilities.”
Celstream’s product engineering engagement models portfolio (Solution
Accelerators) includes a “near-ready” design ecosystem, Product-Profit
Accelerators (PRO2X™) and Reusable Assets for Leveraged Offshore Product
Development (ReAL OPD™), which enable development teams to leverage shared
components and processes, accelerating time-to-market by 60 percent and
reducing development costs by more than 40 percent. In addition, Celstream also
provides its customers with a turnkey Services Package that fosters innovation
and speeds time-to-market of next-generation products by combining product
development capabilities with intellectual assets and reusable components to
automate aspects of product development.
PRO2X is readily deployable software designed for seamless customization and
rapid implementation. PRO2X serves as a development incubator, providing
technology and business services, including product roadmap assistance,
post-launch support, links to strategic partnerships and networks in the
specific product area. The PRO2X development ecosystem also reduces development
time and enhances profitability by automating discrete business processes and
optimizing development spends through re-usability.
ReAL OPD aims to enable customers and technology partners to leverage sharable
technology components or processes. Celstream has utilized its knowledge
repository built upon years of focused engineering and domain experience to
develop ReAL OPD assets. These domain-specific, customizable and ready-to-use
assets help cut development time and costs, and accelerate time-to-market for
our customers’ products.
Celstream’s Services Package leverages
the organization’s depth, diversity and delivery capabilities to meet evolving
market requirements and comprehensively satisfies complex business and
technical needs. The package encompasses a host of services like product
validation (including certification and compliance testing), product
localization, product sustenance (defect fix, patch release, enhancements, and
end-of-life services) and cross-platform development.
“Our entire suite of product engineering
engagement models are built upon more than a decade of domain expertise,
technical competence and process control, and offer a high level integration
and comprehensiveness that enables our customers to develop solutions that
rapidly meet challenging market demands,” continued Kuppuswamy.
Through its product engineering engagement models, Celstream offers customers
the following benefits:
Expanded product portfolio:
Celstream's services enhance a product’s speed-to-market, reduce turnaround
time, and allow for planning and delivery of additional products in the
roadmap.
Predictability: Celstream’s
engagement models are designed to ensure that ideas move steadily and securely
through the design, development and deployment stages.
Minimized project risk:
Celstream’s experience encompasses end-to-end product development, in-depth
domain expertise and efficient project management to limit the risks affecting
schedules and investment.
Cost savings and faster ROI: As a
one-stop shop for product realization, Celstream’s services reduce the number
of interfaces, streamline schedules, reduce operational costs and most
importantly, offer guaranteed deliverables.
About Celstream Technologies Private Limited
Celstream Technologies is a successful, global Product Engineering Services
company with a rich heritage in offshore co-development partnerships. Celstream
offers complete product life-cycle development services to technology companies
in the Media & Entertainment, Consumer Electronics, Print & Publishing,
and
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.45.31 |
|
|
1 |
Rs.70.26 |
|
Euro |
1 |
Rs.59.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
- |
MIRA
INFORM REPORT
|
Report Date : |
07.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known
As : |
CELSTREAM TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
Prestige Blue Chip, Block II, 9, Hosur Road, Bangalore-560 029,
Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
20.04.2000 |
|
|
|
|
Com. Reg. No.: |
08-26960 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900KA2000PTC026960 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRC01598C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC3210G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of providing product engineering
services to leading technology firms in industries such as Communications,
Computers, Electronics and Media. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 990000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Satyanand |
|
Designation : |
Finance Department |
|
Contact No.: |
91-80-41191919 |
|
Date : |
31.12.2010 |
LOCATIONS
|
Registered Office : |
Prestige Blue Chip, Block II, 9, Hosur Road, Bangalore-560 029, |
|
Tel. No.: |
91-80-41191919/41191908 |
|
Fax No.: |
91-80-41191900 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3000 sq. ft. [Owned] |
DIRECTORS
As on 29.09.2009
|
Name : |
Mr. Brijesh Wahi |
|
Designation : |
Managing Director |
|
Address : |
862-B, 13th |
|
Date of Birth/Age : |
05.10.1956 |
|
Date of Appointment : |
25.07.2000 |
|
|
|
|
Name : |
Mr. Jean- Charies Hourcade |
|
Designation : |
Director |
|
Address : |
1, Rue De Rivoli, Paris-75004, |
|
Date of Birth/Age : |
26.01.1957 |
|
Date of Appointment : |
27.08.2003 |
|
|
|
|
Name : |
Mr. Naresh Victor |
|
Designation : |
Director |
|
Address : |
306, Dev Kiran Apartment, |
|
Date of Birth/Age : |
16.04.1964 |
|
Date of Appointment : |
25.02.2009 |
|
|
|
|
Name : |
Mr. Ranga Raj B K |
|
Designation : |
Director |
|
Address : |
313, Shineon Block3, 32, Rahjat Bagh, C V Raman Nagar, Bangalore-560
093, |
|
Date of Birth/Age : |
13.08.1963 |
|
Date of Appointment : |
25.02.2009 |
|
|
|
|
Name : |
Mr. D. Rajagopalan |
|
Designation : |
Director |
|
Address : |
32/1, 4th |
|
Date of Birth/Age : |
17.10.1951 |
|
Date of Appointment : |
30.06.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Chris Kizzier |
|
Designation : |
President - Us Operations |
|
|
|
|
Name : |
Mr. Brian Currie |
|
Designation : |
President - |
|
|
|
|
Name : |
Mr. Nithianand R |
|
Designation : |
Vice President - Engineering
Services (Print & Publishing) |
|
|
|
|
Name : |
Mr. N. Sreenivasa Rao |
|
Designation : |
Vice President - Engineering
Services (Media & Entertainment) |
|
|
|
|
Name : |
Mr. Sethunathan T S |
|
Designation : |
Vice President – Central
Engineering |
|
|
|
|
Name : |
Mr. Greg D'souza |
|
Designation : |
Vice President - Human Resources |
|
|
|
|
Name : |
Mr. K. Sriraman |
|
Designation : |
Vice President - Commercial |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Brijesh Wahi |
|
346800 |
|
Kunal Kashyap |
|
100000 |
|
Hanen Holdings
Limited, |
|
212120 |
|
Bernadette Wahi |
|
340976 |
|
CTPL Senior
Executives |
|
346800 |
|
Manjunath
B S |
|
560 |
|
Sunil
Babu H S |
|
560 |
|
John
Abraham |
|
5625 |
|
B K
Ranga Raj |
|
21000 |
|
ICICI
Trusteeship Services Limited Account ICICi emerging Sectors |
|
86700 |
|
Gurudutt
N Talgery |
|
1625 |
|
Naresh
Victor |
|
30265 |
|
R
Nithianand |
|
1625 |
|
Krishnan
K |
|
1125 |
|
N C Sriraman |
|
1500 |
As on 29.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
37.14 |
|
Bodies
corporate |
|
12.51 |
|
Directors
or relatives of directors |
|
22.15 |
|
Other
top fifty shareholders |
|
25.53 |
|
Venture
Capital |
|
2.67 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing product
engineering services to leading technology firms in industries such as Communications,
Computers, Electronics and Media. |
|
|
|
|
Exports : |
|
|
Products : |
Software Services |
|
Countries : |
US |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
Individual |
|
|
|
|
No. of Employees : |
300 [Approximately] |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Financial Institutions: |
Housing Development Finance Corporation Limited, Ramon
House 169 Backbay Reclamation, H T
Parekh Marg, Mumbai - 400020, |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
UB city, Canberra Block, 12th and 13th Floor,
No.24, Vittal Mallaya road, Bangalore-560 001, |
CAPITAL STRUCTURE
As on 29.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.5/- Each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3252000 |
Equity Shares |
Rs.5/- Each |
Rs.16.260
millions |
Note:
10, 83,000 shares of
Rs.5/- each (2007: Nil) bought back during the year
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
16.260 |
21.675 |
21.675 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
232.030 |
243.963 |
222.488 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
248.290 |
265.638 |
244.163 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
248.290 |
265.638 |
244.163 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58.553 |
33..751 |
45.787 |
|
|
|
273.706
|
186.645 |
206.885 |
|
|
|
332.259 |
220.396 |
252.672 |
|
|
Capital work-in-progress |
0.714 |
20.366 |
4.960 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
114.016 |
97.983 |
|
|
DEFERREX TAX ASSETS |
3.997 |
1.938 |
4.370 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
126.519
|
71.638 |
83.336 |
|
|
Cash & Bank Balances |
103.962
|
69.835 |
73.232 |
|
|
Other Current Assets |
4.898
|
3.529 |
4.358 |
|
|
Loans & Advances |
38.327
|
41.643 |
45.959 |
|
Total
Current Assets |
273.706
|
186.645 |
206.885 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
51.054
|
59.191 |
70.750 |
|
|
Other Current Liabilities |
3.099
|
0.619 |
7.670 |
|
|
Provisions |
34.527
|
31.268 |
37.402 |
|
Total
Current Liabilities |
88.680
|
91.078 |
115.822 |
|
|
Net Current Assets |
185.026
|
95.567 |
91.063 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
248.290 |
265.638 |
244.163 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
499.864 |
524.967 |
|
|
|
Re-imbursement of Expenses |
|
35.333 |
42.302 |
|
|
|
Other Income |
|
26.306 |
6.931 |
|
|
|
TOTAL (A) |
713.500 |
561.503 |
574.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
392.957 |
311.253 |
315.703 |
|
|
|
Operating and other Expense |
219.459 |
177.470 |
183.864 |
|
|
|
TOTAL (B) |
612.416 |
488.723 |
499.567 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
101.084 |
72.780 |
74.633 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.300 |
1.531 |
1.746 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
98.784 |
71.249 |
72.887 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.504 |
26.868 |
29.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
68.280 |
44.381 |
42.904 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.490 |
9.085 |
5.269 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
61.790 |
35.296 |
37.635 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
177.650 |
156.180 |
147.666 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.180 |
0.000 |
3.763 |
|
|
|
Proposed Dividend |
0.00 |
0.00 |
21.675 |
|
|
|
Interim Dividend |
16.260 |
2.170 |
0.000 |
|
|
|
Tax on Proposed Dividend |
2.760 |
0.370 |
3.684 |
|
|
BALANCE CARRIED
TO THE B/S |
214.770 |
177.650 |
156.180 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
18.461 |
4.378 |
15.242 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.02 |
9.20 |
8.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
PAT / Total Income |
(%) |
8.66
|
6.29 |
6.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
N A
|
8.88
|
8.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.55
|
20.14 |
16.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.17 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.36
|
0.34 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.09
|
2.05 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs in Millions
|
PARTICULARS |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
31.12.2006 |
|
|
|
|
|
|
Sundry creditors for goods, expenses and services |
51.054
|
59.191 |
70.750 |
|
|
|
|
|
Nature
of Operations
Subject
was set up in April 2000. The Company is engaged in the business of providing product
engineering services to leading technology firms in industries such as
Communications, Computers, Electronics and Media. Based out of
Effective January 9, 2009, the Company has become a private
limited Company.
OVERVIEW
OF OPERATIONS
The Company has focused its business development and
engineering efforts on select vertical markets in Product Engineering Services.
The focus vertical markets are Media and Entertainment, Print and Publishing
and Consumer and Telecom. The total revenue earned by the Company during this
period was Rs. 713.50 Million (Rs. 561.50 Million during the previous year) and
the Operating Margin was slightly higher at Rs. 98.78 Million as against Rs.
71.25 Million, during the previous year, which was mainly due to the US Dollar
appreciating against the Indian Rupee.
FUTURE
OUTLOOK
Despite the impact of the global recession experienced by
the industry, the Company continues to grow. The Company has taken appropriate
measures to counter the recessionary impact with diversification of its service
offerings and customer base and will maintain its efforts towards improving
cost efficiency. The Company will continue to focus on both diversification and
expansion of markets, while managing margins through enhanced efficiency,
competitive pricing and judicious cost saving.
Bankers Charges
Report as per Registry
|
Name of the company |
CELSTREAM
TECHNOLOGIES PRIVATE LIMITED |
|
Presented By |
CELSTREAM TECHNOLOGIES
PRIVATE LIMITED AND SOCIETE GENERALE |
|
1) Date and description of instrument creating the change |
December 02,2003
supplementary agreement of hypothecation |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.33.450
millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge on all
the present and future current assets and book debts on account of sale made
by Celstream Technologies Private Limited |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1. first charge
on all the present and future current assets and Book Debts on account of
sale made by Celstream Technologies Private Limited 2. Interest
charged at monthly rests on the outstanding in the account opened at the rate
to be determined by the bank subject to changes in the Bank’s Prime leading
rate and/or changes in interest rates prescribed by the Reserved Bank of |
|
5) Name and Address and description of the person entitled to the charge. |
Society General,
Maker Chambers, IV, 13th floor, P. O. Box 11635, Nariman Point,
Mumbai-400 021, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
April21,2005 Supplementary agreement of Hypothecation |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
By the above-
referred agreement dated April 21, 2005 the amount secured by charge stands
increased from Rs.33.450 millions to Rs.45.000 millions. |
|
Corporate
identity number of the company |
U72900KA2000PTC026960 |
|
Name of the
company |
CELSTREAM
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Prestige Blue Chip, Block II, 9, Hosur Road, Bangalore-560 029, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others Pledge of
investment - shares held in subsidiary |
|
Particular of
charge holder |
Housing Development Finance Corporation Limited, Ramon
House 169 Backbay Reclamation, H T
Parekh Marg, Mumbai - 400020, |
|
Nature of
description of the instrument creating or modifying the charge |
Share Pledge
Agreement-Through this agreement the investment in 1600 Equity shares of
Rs.100/- each held in the share capital of Trilux Electric Private Limited
(The wholly owned subsidiary of the Company) |
|
Date of
instrument Creating the charge |
27.08.2009 |
|
Amount secured by
the charge |
Rs.184.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The applicable
rate of as on date is 13.50 % per annum as per terms of facility agreement
dated 24th August 2009. Terms of
Repayment Repayable in two
Trenches - Trench-I Rs.60
millions 120 monthly installments consisting of 119 Equated
Monthly installments of Rs.0.910
million each and one last installment Rs.18,26,606/- Trench -II-
Rs.124.500 millions in 120 monthly installments consisting of; 119 Equated
Monthly installments of Rs.1.900 millions each and one last installment Rs.0.848 millions Margin Not applicable Extent and
Operation of the charge Charge of the
shares is exclusive charge given to HDFC by way of pledge to secure the
repayment of loan and interest thereon. |
|
Short particulars
of the property charged |
The investment in
1600 equity shares of Rs. 100/- each held in the share capital of Trilux
Electric Private Limited, the Original share certificates have been delivered
to HDFC Limited for creation of pledge. |
Fixed Assets:
·
Building
·
Leasehold Improvements
·
Computer Equipment
·
Office Equipment
·
Furniture and Fixtures
·
Vehicles
AS PER WEBSITE DETAILS
MANAGEMENT
BOARD OF DIRECTORS
JEAN-CHARLES HOURCADE
– CHAIRMAN
Jean-Charles Hourcade has been a Director on the Board of Celstream since 2003.
He is a distinguished member of several worldwide technology standards
committees. He is prominent in the technology circles of the Media & Entertainment
industry. A visionary, he was earlier Senior Executive Vice President,
Technology Division and the Chief Technology Officer of Thomson
BRIJESH WAHI -
MANAGING DIRECTOR
Brijesh Wahi is a successful entrepreneur, with over 25 years of experience in
managing high technology businesses and companies. Brijesh founded Celstream in
2000. He has extensive senior management experience in Engineering Services
Outsourcing (ESO), and over the last 12 years has established and led highly
successfully product engineering teams and businesses. Brijesh’s experience in
partnering with Fortune 500 companies, strong leadership skills and business
ethics have helped pilot Celstream since inception.
Before Celstream, as former Managing Director of Tektronix in
D. RAJAGOPALAN –
DIRECTOR
D. Rajagopalan is a Corporate Lawyer and a Professional
Director on the Board of Celstream. He holds a Bachelor’s degree in Law and is
a Fellow Member of the Institute of Company Secretaries of India. He also holds
a Bachelor’s degree in Science and a Post Graduate diploma in Economics from
NARESH VICTOR –
EXECUTIVE DIRECTOR
Naresh Victor has over 20 years of diverse management experience in
high-technology industries. As a key member of the core start-up team, he has
been with Celstream since inception in 2000, serving in various capacities in
the Senior Leadership Team. Naresh has been instrumental in leading strategic
change, while providing operational continuity across our various customer
engagements. He has led the Marketing, Sales and Finance functions,
institutionalizing key growth initiatives and facilitating profitable
operations.
Prior to joining Celstream, Naresh was General Manager –
South Asia for the Grass Valley Group and established their
RANGA RAJ, CHIEF
TECHNOLOGY OFFICER
Ranga Raj has 22 years of rich and varied experience in products and services in the IT, Media, CE and the Telecom Industries. He has been with Celstream since its inception and his areas of interest are Convergence, Cross Media workflows, Narrowcasting and management systems. Raj provides direction to Celstream’s technology, domain & industry capability so as to align with our customers’ strategic product initiatives and goals. Prior to Celstream, Raj was with Tektronix Engineering Development India and Digital India. He has authored and presented several papers at various global events/conferences. He is a chartered member of TiE and mentors entrepreneurs and intrepreneurs. Raj holds a Bachelors’ Degree in Physics and an Engineering Degree from IISC Bangalore.
SENIOR LEADERSHIP
TEAM
CHRIS KIZZIER,
PRESIDENT -
Chris Kizzier has over 32 years of experience in high technology product
development across various
Earlier, Chris was the Senior Program Manager at Sequent Computers, responsible
for Sequents' Offshore Engineering Program. Prior to Sequent, Chris spent 14
years with Hewlett Packard, and was involved in bringing HP's PA-Risc
architecture to market by making extensive use of engineering services from both
BRIAN CURRIE,
PRESIDENT -
Brian Currie has over 31 years of experience in Senior Management positions,
leading high technology companies in Australia & New Zealand. Brian joined
Celstream in 2001 and is responsible for business development and managing our
customer relationships in
Prior to joining Celstream, Brian was the Director of Harbour Consulting
Australia, an integrated HR solutions company and Managing Director of Michelago
NITHIANAND R, VICE
PRESIDENT - ENGINEERING SERVICES (PRINT & PUBLISHING)
Nithianand has over 26 years of experience in the Software Industry spanning
Software Development, Systems Integration, Networking, Embedded Systems and
Hardware Design. Nithi has been with Celstream since its inception. As a member
of the Senior Leadership Team, Nithi leads our Print & Publishing Delivery
Unit. His extensive expertise in Technology, Project, People & Resource and
Customer Relationship Management, enables us to successfully meet our customers’
product development goals. His experience also provides Celstream with the
strategic vision required to realize our growth plans in the Print &
Publishing domain.
Nithi was earlier with Tektronix and CMC. He holds a Bachelor’s Degree in
Electronics & Communications from REC Trichy.
N. SREENIVASA RAO,
VICE PRESIDENT - ENGINEERING SERVICES (MEDIA & ENTERTAINMENT)
Sreenivasa Rao (‘NSR’) has 20 years of varied technical and management
experience in the Software Industry, encompassing a wide variety of roles and
responsibilities. NSR joined Celstream in 2004 and leads the Media &
Entertainment Delivery Unit. His experience with hi-technology products
provides our engineering teams with the strategic direction required to meet
our customers’ technology and business needs. As a member of the Senior
Leadership Team, NSR plays a vital role in enabling structured growth of our
M&E vertical.
Prior to joining Celstream, NSR had a long stint with Hewlett Packard where he
played multiple managerial roles. He holds a Bachelor’s degree in Computer
Science from REC Trichy. NSR also holds a patent for his work on Diagnostic
Systems for Distributed Data Access Network System.
SETHUNATHAN T S, VICE
PRESIDENT – CENTRAL ENGINEERING
Sethunathan has over 33 years of varied technical and management experience in
the Aerospace, Networking and Broadcasting industries. Sethu has been with
Celstream since its inception. In his current role, Sethu is responsible for
Quality, Information Systems Competency Development and Engineering Resource
Pool Management. He ensures our customers have consistent and quality
deliverables through excellence in engineering operations. He also ensures that
we have the right competencies to meet current and forthcoming business needs.
Prior to Celstream, Sethu was with ISRO Satellite Centre (Department of Space),
where he was a Project Manager for the INSAT 2 program. Sethu holds a
Bachelor’s degree in Electronics Engineering and a Master’s degree in Computer
Science Engineering from the Indian Institute of Technology,
GREG D'SOUZA, VICE
PRESIDENT - HUMAN RESOURCES
Greg D’Souza has over 22 years of Human Resource Management experience in
the technology world. His strong people management expertise spans Staffing,
Compensation and Benefits, Employee Relations, Training and Development and
Organizational Development. As a member of the Senior Leadership Team since
2005, Greg leads our HR function and provides strategic and tactical support to
our engineering organization in the attraction, retention and development of
talent.
Prior to joining Celstream, Greg was Vice President – HR, with vMoksha
Technologies. He has also worked with large multinational companies including
IBM, i-flex, Tektronix and Deutsche Software. Greg has a Post-Graduate degree
in Personnel Management from the
K. SRIRAMAN, VICE
PRESIDENT – COMMERCIAL
Sriraman has 29 years of varied experience in the technology industry spanning
critical functions such as Operations, Sourcing, Sales and Administration. He
has been with Celstream since its inception and is a member of the Senior
Leadership Team. At Celstream, Sriraman’s responsibilities encompass Sourcing,
Logistics and Infrastructure development, which ensures that we have the
required development environment to enable smooth delivery.
Prior to joining Celstream Sriraman was the General Manager – Commercial, at
Tektronix
NEW PRODUCT DEVELOPMENT (NPD)
For a New Product
Development activity to succeed vis-à-vis its time and cost objectives,
the co-development partner has to efficiently manage three crucial parameters
viz., “scope”, “schedule” and “resource”. Any deviation in one parameter will
result in a manifold increase in cost and time. The challenge is to partner
with a Product Development
specialist who has the wherewithal and the ideal combination of Product Engineering experience and Software Development expertise, to
give you the desired results.
Celstream, a global Offshore
Software Development Company
and an ideal product co-development partner, has a rich heritage of developing
new products for global customers in diverse industries and domains. Their
expertise stretches across the entire lifecycle of NPD. They understand the
dynamics and challenges involved in building a product from scratch. Being a
product creation and sustenance company, they possess core competencies in:
·
Product ideation
·
Requirements definition and analysis
·
Prototype development
·
Design and development of the new
product
·
Testing and QA
·
Maintenance
A key reason for their successful NPD ventures has been their reliance on methods and processes that
have been distilled through years of experience across various domains. Their
understanding of the dynamics of the NPD
process enables them to evolve complete products from unstructured
specifications. They understand the intricacies and special needs of product
development, such as: evolvability, maintainability, scalability, internationalization/localization,
ease of use, ease of installation. They have coordinated with their customers
in driving the entire NPD program, including interacting with end-users and
suggesting product roadmaps.
This collective experience shapes the NPD services they offer you and
enables in mitigating risk, improving quality, achieving the desired cost
benefit and meeting the overall product roadmap goals for the NPD initiatives.
Leveraging the experience and expertise, they are able to give you the desired
focus, discipline and commitment for driving the product to new levels of
performance and functionality.
Some of their successful NPD stories include:
·
Management software product for the Print Industry
·
Software
product development for rich-media content distribution for the Transportation
industry
·
A product to enable
business-to-business Intelligent Network Services between enterprises
·
File Synchronization software product
for Personal Storage
Their success in the new product domain has been a result of
their:
·
Understanding of product strategies and
access to specialized skills
·
Transparent engagement models that
gives a ring-side view of the project
·
Product
development collaboration methodology, which provides up-to-date project
status communication allowing quick decisions to be taken
·
Proven processes that enable delivery
of rugged quality and predictability of delivery
NEWS AND EVENTS
Celstream’s product engineering engagement
models fuel the development of innovative, high-quality products; support
greater accountability and collaboration
Shrinking R&D budgets as a result of
the global economic downturn demand greater efficiency; predictability and
control over development costs
“Today’s R&D budgets are undergoing close scrutiny, as companies strive to
emerge from the economic crisis, stronger and more competitive,” said Anand
Kuppuswamy, Corporate Manager - Marketing and Strategy, Celstream. “Traditional
engagements based on fixed price, or time and materials are ceasing to exist as
companies recognize the need for parity between product development costs and
derived value. To minimize costs, speed time-to-market, and develop highly
customized products and solutions, technology companies are turning to product
engineering engagement models, like those offered by Celstream, which are based
on shared business risk and offer ‘pre-developed’ design platforms, reusable
assets and technology licensing capabilities.”
Celstream’s product engineering engagement models portfolio (Solution
Accelerators) includes a “near-ready” design ecosystem, Product-Profit
Accelerators (PRO2X™) and Reusable Assets for Leveraged Offshore Product
Development (ReAL OPD™), which enable development teams to leverage shared
components and processes, accelerating time-to-market by 60 percent and
reducing development costs by more than 40 percent. In addition, Celstream also
provides its customers with a turnkey Services Package that fosters innovation
and speeds time-to-market of next-generation products by combining product
development capabilities with intellectual assets and reusable components to
automate aspects of product development.
PRO2X is readily deployable software designed for seamless customization and
rapid implementation. PRO2X serves as a development incubator, providing
technology and business services, including product roadmap assistance,
post-launch support, links to strategic partnerships and networks in the
specific product area. The PRO2X development ecosystem also reduces development
time and enhances profitability by automating discrete business processes and
optimizing development spends through re-usability.
ReAL OPD aims to enable customers and technology partners to leverage sharable
technology components or processes. Celstream has utilized its knowledge
repository built upon years of focused engineering and domain experience to
develop ReAL OPD assets. These domain-specific, customizable and ready-to-use
assets help cut development time and costs, and accelerate time-to-market for
our customers’ products.
Celstream’s Services Package leverages
the organization’s depth, diversity and delivery capabilities to meet evolving
market requirements and comprehensively satisfies complex business and
technical needs. The package encompasses a host of services like product
validation (including certification and compliance testing), product
localization, product sustenance (defect fix, patch release, enhancements, and
end-of-life services) and cross-platform development.
“Our entire suite of product engineering
engagement models are built upon more than a decade of domain expertise,
technical competence and process control, and offer a high level integration
and comprehensiveness that enables our customers to develop solutions that
rapidly meet challenging market demands,” continued Kuppuswamy.
Through its product engineering engagement models, Celstream offers customers
the following benefits:
Expanded product portfolio:
Celstream's services enhance a product’s speed-to-market, reduce turnaround
time, and allow for planning and delivery of additional products in the
roadmap.
Predictability: Celstream’s
engagement models are designed to ensure that ideas move steadily and securely
through the design, development and deployment stages.
Minimized project risk:
Celstream’s experience encompasses end-to-end product development, in-depth
domain expertise and efficient project management to limit the risks affecting
schedules and investment.
Cost savings and faster ROI: As a
one-stop shop for product realization, Celstream’s services reduce the number
of interfaces, streamline schedules, reduce operational costs and most
importantly, offer guaranteed deliverables.
About Celstream Technologies Private Limited
Celstream Technologies is a successful, global Product Engineering Services
company with a rich heritage in offshore co-development partnerships. Celstream
offers complete product life-cycle development services to technology companies
in the Media & Entertainment, Consumer Electronics, Print & Publishing,
and
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.45.31 |
|
|
1 |
Rs.70.26 |
|
Euro |
1 |
Rs.59.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.