MIRA
INFORM REPORT
|
Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Name : |
GEOMETRIC LIMITED |
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Registered
Office : |
Plant 6, Pirojshanagar, Vikhroli (West), Mumbai 400079, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.03.1994 |
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Com. Reg. No.: |
077342 |
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IEC Code : |
0394027329 |
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CIN No.: [Company Identification
No.] |
L72200MH1994PLC077342 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG06739F |
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PAN No.: [Permanent Account No.] |
AABCG0066A |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is Specialist in the Domain of Engineering Solutions, Services
and Technologies |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 8600000 |
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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 records.
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) |
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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
Management Non Co Operative (Name not Disclose)
LOCATIONS
|
Registered Office : |
Plant 6, Pirojshanagar, Vikhroli (West), Mumbai 400079, |
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Tel. No.: |
91-22-67056556 |
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Fax No.: |
91-22-67056891 |
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E-Mail : |
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Website : |
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Area : |
51920 Sq. ft. |
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Location : |
Owned |
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Overseas Office: |
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Branches : |
Pune Plot No. 15/B Pune Infotech Park MIDC,
Hinjewadi Taluka Mulshi Pune 411 057 Embassy TechZone, Plot No. 3, Block No.
11, Nile Building, Rajiv Gandhi Infotech Park, MIDC, Hinjewadi, Phase-II,
Village - Marunji, Pune 411 057, Maharashtra India Area : 16889 sq. ft. Location : Rented Bengaluru Area : 29342 sq. ft. Location : Rented Chennai Hyderabad |
DIRECTORS
AS ON 31.03.2010
|
Name : |
Mr. Jamshyd N Godrej |
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Designation : |
Chairman |
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Address : |
40-D, B.G. Kher Marg, Malabar Hills, Mumbai – 400006, |
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Date of Birth/Age : |
62 years |
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Qualification : |
Graduate |
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Name : |
Mr. Ravishankar G |
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Designation : |
Managing Director and Chief Executive Officer |
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Address : |
1603, Whitefield, Hiranandani Meadows, Glady |
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Date of Birth/Age : |
44 years |
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Qualification : |
B.A. in Chemistry |
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Experience : |
20 years |
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Name : |
Mr. Kyamas A Palia |
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Designation : |
Director |
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Address : |
Patel- |
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Date of Birth/Age : |
65 years |
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Qualification : |
Ph.D. in Business Administration |
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Experience : |
40 years |
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Name : |
Mr. Manu M Parpia |
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Designation : |
Vice Chairman |
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Address : |
72, Tenerif, Little |
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Date of Birth/Age : |
61 years |
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Qualification : |
B.A. in Chemical Engineering M.B.A. Diploma in Finance and Accounting |
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Experience : |
30 years |
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Name : |
Mr. Milind S Sarwate |
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Designation : |
Director |
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Address : |
E-201/202, Sita Vihar, Near Damani Estate, L.B.S. Marg, Naupada, Thane
– 400602, Maharashtra, India |
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Date of Birth/Age : |
51 years |
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Qualification : |
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Experience : |
27 years |
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Name : |
Mr. Richard Riff |
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Designation : |
Director |
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Address : |
2672 W, |
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Date of Birth/Age : |
63 years |
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Qualification : |
Mechnical Engineer and Master’s in Doctrate of Science and
Aeronautics. |
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Name : |
Mrs. Anita Ramchandran |
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Designation : |
Director |
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Address : |
13, Navroze Apartments, |
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Date of Birth/Age : |
56 years |
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Qualification : |
Post Graduate in Business Management |
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Experience : |
30 years |
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Name : |
Mr. Ajay Mehra |
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Designation : |
Director |
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Address : |
19 Orion, |
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Date of Birth/Age : |
43 years |
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Qualification : |
Chartered Accountant |
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Experience : |
16 years |
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Name : |
Mr. Parth Gandhi |
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Designation : |
Director |
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Address : |
G Wing, Flat No. 79, Gujarathi Society, Nehru Road, Vile Parle,
Mumbai, Maharashtra, India |
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Date of Birth/Age : |
40 years |
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Qualification : |
M.B.A. |
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Experience : |
15 years |
KEY EXECUTIVES
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Name : |
Ms Priya Jadhav |
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Designation : |
Vice President, Finance |
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Name : |
Mr. Basil Almeida |
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Designation : |
Vice President and General Counsel |
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Name : |
Mr. Sanjeev Joshi |
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Designation : |
Director and Head, Internal Info Systems |
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Name : |
Mr. Sarvesh Naik |
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Designation : |
Senior Director and Head, Corporate Marketing and Communications |
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Name : |
Mr. Nitin Tappe |
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Designation : |
Vice President and Head, Software
Services |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
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4,747,405 |
7.62 |
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18,854,008 |
30.26 |
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23,601,413 |
37.88 |
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Total shareholding of Promoter and Promoter Group (A) |
23,601,413 |
37.88 |
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(B) Public Shareholding |
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1,242,353 |
1.99 |
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3,900 |
0.01 |
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1,533,908 |
2.46 |
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6,119,104 |
9.82 |
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8,899,265 |
14.28 |
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2,293,970 |
3.68 |
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13,637,659 |
21.89 |
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8,874,477 |
14.24 |
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4,998,066 |
8.02 |
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354,489 |
0.57 |
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689,502 |
1.11 |
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3,874,075 |
6.22 |
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80,000 |
0.13 |
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29,804,172 |
47.84 |
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Total Public shareholding (B) |
38,703,437 |
62.12 |
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Total (A)+(B) |
62,304,850 |
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) |
62,304,850 |
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 : |
Subject is Specialist in the Domain of Engineering Solutions, Services
and Technologies |
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Exports : |
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Products : |
Software |
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Countries : |
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Terms : |
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Selling : |
Credit (30 to 90 days) |
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Purchasing : |
Credit (30 to 90 days) |
GENERAL INFORMATION
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Customers : |
End Users, OEM’s and Others |
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No. of Employees : |
1596 (Approximately) |
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Bankers : |
Citi Bank Fort, |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kalyaniwalla and Mistry Chartered Accountant |
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Address : |
Kalpataru Heritage 127, |
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Tel No. : |
91-22-61587200 |
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Fax No. : |
91-22-22673954 |
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Associates: |
Godrej and Boyce Manufacturing Company Limited |
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Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
80000000 |
Equity Shares |
Rs. 2/- each |
Rs.160.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
62114350 |
Equity Shares |
Rs. 2/- each |
Rs.124.228 millions |
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Of the above 14250000 equity shares have been
allotted as fully paid up bonus shares by capitalization of surplus in the
profit and loss account and 27582470 equity shares have been allotted as fully
paid up bonus shares from shares premium account.
During the year to date, Nil shares of Rs. 2
each have been issued under the employee stock option plan of the company.
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 |
124.228 |
124.228 |
124.207 |
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2] Share Application Money |
0.000 |
0.000 |
0.446 |
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3] Reserves & Surplus |
2038.344 |
1751.445 |
2001.679 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2162.572 |
1875.673 |
2126.332 |
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LOAN FUNDS |
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1] Secured Loans |
77.640 |
121.728 |
156.372 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
77.640 |
121.728 |
156.372 |
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DEFERRED TAX LI |
10.610 |
19.211 |
41.728 |
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TOTAL |
2250.822 |
2016.612 |
2324.432 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
260.834 |
293.776 |
695.729 |
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Capital work-in-progress |
0.540 |
16.457 |
1.057 |
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INVESTMENT |
273.878 |
255.097 |
805.183 |
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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 |
1016.585
|
993.758 |
231.785 |
|
|
Cash & Bank Balances |
65.505
|
363.009 |
74.212 |
|
|
Other Current Assets |
0.962
|
0.435 |
321.269 |
|
|
Loans & Advances |
1083.233
|
673.841 |
517.759 |
|
Total
Current Assets |
2166.285
|
2031.043 |
1145.025 |
|
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Less : CURRENT LI |
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|
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Sundry Creditors |
35.618
|
7.578 |
14.430 |
|
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Other Current Liabilities |
310.902
|
488.660 |
240.324 |
|
|
Provisions |
104.195
|
83.523 |
67.808 |
|
Total
Current Liabilities |
450.715
|
579.761 |
322.562 |
|
|
Net Current Assets |
1715.570
|
1451.282 |
822.463 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2250.822 |
2016.612 |
2324.432 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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|
SALES |
|
|
|
|
|
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|
Sales |
2137.393 |
2303.817 |
1723.669 |
|
|
|
Other Income |
73.029 |
150.034 |
185.201 |
|
|
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TOTAL (A) |
2210.422 |
2453.851 |
1908.870 |
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|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Loss on Foreign Exchange Transactions |
119.389 |
301.007 |
(103.416) |
|
|
|
Office Expenses |
1856.465 |
2036.289 |
1637.261 |
|
|
|
TOTAL (B) |
1975.854 |
2337.296 |
1533.845 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
234.568 |
116.555 |
375.025 |
|
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|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
4.030 |
10.576 |
14.990 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
230.538 |
105.979 |
360.035 |
|
|
|
|
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|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
80.430 |
96.583 |
93.197 |
|
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|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
150.108 |
9.396 |
266.838 |
|
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|
|
|
|
|
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|
Less |
TAX (H) |
13.741 |
(420.748) |
52.648 |
|
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|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
136.367 |
430.144 |
214.190 |
|
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|
|
|
|
|
|
Less |
Residual
Dividend for Previous Fiscal |
0.000 |
0.008 |
0.010 |
|
|
Less |
Dividend Tax
Thereon |
0.000 |
0.001 |
0.002 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1052.957 |
1257.984 |
1124.277 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
13.650 |
43.100 |
22.344 |
|
|
|
Dividend |
68.325 |
49.691 |
49.682 |
|
|
|
Tax on Dividend |
9.317 |
3.858 |
8.445 |
|
|
|
Transfer to Investment Reorganization
Reserve |
0.000 |
538.513 |
0.000 |
|
|
BALANCE CARRIED TO
THE B/S |
1098.032 |
1052.957 |
1257.984 |
|
|
|
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1948.564 |
NA |
NA |
|
|
|
Commission Earnings |
29.778 |
NA |
NA |
|
|
TOTAL EARNINGS |
1978.342 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
37.526 |
63.084 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.20 |
0.23 |
3.45 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
520.100 |
578.710 |
|
Total Expenditure |
535.650 |
582.630 |
|
PBIDT (Excl OI) |
(15.550) |
(3.920) |
|
Other Income |
82.250 |
25.450 |
|
Operating Profit |
66.700 |
21.530 |
|
Interest |
1.350 |
1.560 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
65.350 |
19.970 |
|
Depreciation |
20.480 |
19.080 |
|
Profit Before Tax |
44.870 |
0.890 |
|
Tax |
(0.770) |
1.500 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
45.640 |
(0.610) |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
45.640 |
(0.610) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.16
|
17.52 |
11.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.02
|
0.40 |
15.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.18
|
0.40 |
14.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.01 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.24
|
0.38 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.80
|
3.50 |
3.54 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2010
|
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors |
35.618
|
7.578 |
14.430 |
BUSINESS REVIEW
The
Financial Year 2009-10 was a challenging year as they had to adapt quickly to
the changing economic scenario. The Company had to take some tough decisions to
strike a balance in order to maintain the pillars of growth for the economic
turnaround, while focusing on improving productivity and quality to serve the
customers more efficiently than ever before.
The
consolidated revenues for year ended FY10 declined from USD 129.47 mn to USD
108.12 mn, a decline of 16.5 %. However, revenues in rupee terms declined from INR
5980.7 millions to INR 5115.6 millions, a decline of 14.5 % on back of a
favourable dollar to rupee exchange rate. Forthe same period, profit-after-tax
increased from INR 68.8 millions to INR 466.7 millions (after adjustment for
extraordinary items). A significant contributor to this increase was
differential in forex loss compared to the last year which dropped from INR
483.6 millions in FY09 to INR 19.7 millions in FY10.
The three
business segments of the Company-software services, engineering services and
products recorded the following trends in the year FY10:
- Software services contribution
to the top-line increased from 60.30% in FY09 to 64.25%. In absolute
terms, this business decreased by 11% over the previous year.
- Engineering services contribution
to the top line decreased from 33% in FY09 to 28.42% in FY10. This was on
account of conscious efforts to get out of loss making contracts in the US
as also focused efforts at retaining only the offshorable contracts.
- Products business contribution
to the top-line increased from 6.7% in FY09 to 7.3% in FY10. Although, in
absolute terms, the products business decreased by 9.6% over the previous
year.
- The Company's performance in
the four regions in which they operate can be summarized as follows:
- APAC's share dropped from
6.7% in FY09 to 4.8% in FY10.
These
numbers reflect the effect of the economic slowdown that has hit the
Trends in
various vertical segments that the Company caters to were as follows:
- Software ISV and Partners:
Segment share of business reduced marginally from 47.71% in FY09 to 47.1%
in FY10; remained flat in absolute terms.
- Automotive: Segment share of
business increased from 31.5°% in FY09 to 32.5°% in FY10. In absolute
terms, this segment recorded a de-growth of 14.3% over the previous year.
(USD 32.58 mn in FY10 Vs USD 38.02 mn in FY09).
- Agricultural and Construction
Equipment: Segment share of business is almost flat at 10.8% in FY10
compared to 11% in FY09. In absolute terms, this segment recorded a
de-growth of 18.1% over the previous year. (USD 10.84 mn in FY10 Vs USD
13.23 mn in FY09).
- Industrial and Marine Engineering: Segment share of business increased from 4.6% in FY09 to 5.3% in FY10. In absolute terms, this segment recorded a year-on-year de-growth of 4.3%. (USD 5.29 mn in FY10 Vs USD 5.53 mn in FY09).
During the year, the Company saw increasing traction in the apparel, oil and gas and aerospace industry, clearly indicating the impact of diversification and efforts to reduce dependence on the auto industry
INVESTMENTS:
They had
initiated the process of subsidiary restructuring with the objective of having
single legal entity in each of the Geographies. This will help in consolidation
and optimization of the administrative costs. As part of this process
They
merged Geometric Americas Inc., and Geometric Engineering Inc., (formerly
Modern Enginnering, Inc.) to form Geometric Americas Inc., in 2008. Geometric
On April
1, 2010 Geometric Technologies, Inc. merged with Geometric Americas, Inc. and
the merged entity is renamed as Geometric
Americas, Inc. As a result they have one subsidiary
in the
MANAGEMENT'S
DISCUSSION AND ANALYSIS REPORT
Overview
The
financial statements have been prepared in compliance with the requirements
ofthe Companies Act, 1956, and Generally Accepted Accounting Principles (GAAP)
in
Business
Environment and Outlook
Geometric
operates in the Engineering technology and services segment (referred to as
Engineering Services in the discussion and analysis report, covering product
realization services and solutions, such as Product Lifecycle Management,
Software Product Development and Global Engineering services). Geometric
provides services, solutions and technologies which increase the effectiveness
and efficiency of design and manufacturing business processes for firms across
the globe.
In the
fiscal FY09, Geometric's primary markets have been significantly impacted by
global recessionary trends. This has resulted in decrease in demand and
volumes, for a wide variety of products. In particular, the US automobile
industry dominated by the "Big Three" (Ford, Chrysler and GM) has
faced financial crises caused by high unit costs, high costs of energy and a
lack of demand caused by drop in expendable income and available credit. While
automobiles form about one-fifth ofthe total manufacturing volumes in the
Geometric
has a high dependence on the automobile market, coupled with a high
geographical dependence upon the
The native
drivers for IT outsourcing, particularly focused on Engineering Services,
continue to be strong and they do not
foresee significant threats to the outsourcing markets. The current recession
will stimulate changes in business processes and changes in product development
infrastructure, which will increase the opportunity for Engineering
outsourcing, both at the infrastructure or IT level, and at the level of
business process execution. These changes will be driven by the need to reduce
costs by optimization of manufacturing process costs, competitive sourcing of
components, and increasing integration between various enterprise level
systems. There will also be emphasis on reducing the energy consumption of
products, and a focus on the environmental impact of managing products through
their life cycle. All of these trends will favour the deepening and widening of
opportunities available for Geometric.
FIXED ASSETS:
- Building
- Computers
- Electrical
Installation
- Office Equipment
- Furniture and
Fixtures
- Vehicles
- Computer
Software
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED
30.09.2009
|
Particulars |
30.09.2010 Quarter |
|
Income |
|
|
a) Net Sales / Income from Operations |
578.711 |
|
b) Other Operating Income |
0.000 |
|
Total Operating Income |
578.711 |
|
Expenditure |
|
|
(a) (Increase)/decrease in Stock in Trade |
0.000 |
|
(b) Loss / (Gain) on Exchange Difference |
28.907 |
|
(c) Traveling Expenses |
26.253 |
|
(d) Employees Cost |
382.940 |
|
(e) Depreciation |
19.078 |
|
(f) Other Expenditure |
144.542 |
|
Total Expenditure |
601.721 |
|
Profit / (Loss) From Operations before other Income Interest & Exceptional Items |
(23.010) |
|
Other Income |
25.454 |
|
Profit/(Loss) before Interest and Exceptional items |
2.444 |
|
Interest |
1.556 |
|
Profit / (Loss) after interest before Exceptional items |
0.888 |
|
Exceptional Items |
0.000 |
|
Profit / (Loss) From
Ordinary activities before Tax |
0.888 |
|
Provision for Taxation |
1.500 |
|
Net Profit/(Loss) From Ordinary activities after Tax |
(0.612) |
|
Extraordinary Items |
0.000 |
|
Net Profit/(Loss) for the period |
(0.612) |
|
Paid Up Equity Share Capital (Face Value of the share Rs.2/- each) |
124610 |
|
Reserves (Excluding Revaluation Reserves) |
0.000 |
|
Public Share
Holding |
|
|
Before
Extraordinary Items |
|
|
-Basic |
(0.01) |
|
-Diluted |
(0.01) |
|
After Extraordinary Items |
|
|
-Basic |
(0.01) |
|
-Diluted |
(0.01) |
|
Average of Public Share Holding |
|
|
- Number of Shares |
38703437 |
|
- Percentage of shareholding |
62.12 |
|
Promoters and Promoter group share holding |
|
|
a) Pledged / Encumbered |
|
|
- Number of Shares |
Nil |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
Nil |
|
- Percentage of shares(as a % of the total share capital of the company) |
Nil |
|
b) Non-encumbered |
|
|
- Number of Shares |
23601413 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
100.00 |
|
- Percentage of Share (as a % of the total share capital of the company) |
37.88 |
PRESS RELEASE
Dassault Systčmes and Geometric Sign Global Services Agreement
Mumbai, India,
December 16, 2010: Dassault Systčmes (Euronext Paris: #13065, DSY.PA),
a world leader in 3D and Product Lifecycle Management (PLM) solutions, and
Geometric Limited (BSE: 532312, NSE: GEOMETRIC), a specialist in PLM, Global
Engineering Services, and Offshore Product Development solutions and
technologies, today reinforced their partnership by announcing a Global
Services Agreement, making Geometric a preferred services provider to support
Dassault Systčmes products and technologies.
Under the
agreement, Geometric will partner with Dassault Systčmes to provide services on
Dassault Systčmes platforms to joint customers across multiple geographies and
industries, thus further strengthening the relationship between the two
Companies.
“With Geometric’s
extensive experience in Dassault Systčmes products, combined with our industry
leading V6 PLM solutions, we believe that this partnership will bring strong
value to our customers, both in domain expertise and technology capabilities”
said Tom Emmrich, Senior Vice-President, Dassault Systčmes Services.
Signing the
agreement, Mr. Ravishankar, Managing Director and CEO Geometric commented “We
are very pleased to join the elite group of Dassault Systčmes’ ‘preferred
partners’. We have been working with Dassault Systčmes for providing services
on Dassault Systčmes products, and this endorsement of our services will help
us better serve Dassault Systčmes’ customers”.
Geometric has over
two decades of experience working with Dassault Systčmes products and technologies.
The company has developed niche service offerings for implementation,
migration, upgrade, maintenance and interoperability around Dassault Systčmes’
products including ENOVIA, CATIA, SOLIDWORKS, SIMULIA and DELMIA.
About Dassault
Systčmes
As a world leader
in 3D and Product Lifecycle Management (PLM) solutions, Dassault Systčmes
brings value to more than 115,000 customers in 80 countries. A pioneer in the
3D software market since 1981, Dassault Systčmes develops and markets PLM
application software and services that support industrial processes and provide
a 3D vision of the entire lifecycle of products from conception to maintenance
to recycling. The Dassault Systčmes portfolio consists of CATIA for designing
the virtual product - SolidWorks for 3D mechanical design - DELMIA for virtual
production - SIMULIA for virtual testing - ENOVIA for global collaborative
lifecycle management, and 3DVIA for online 3D lifelike experiences. Dassault
Systčmes’ shares are listed on Euronext Paris (#13065, DSY.PA) and Dassault
Systčmes’ ADRs may be traded on the US Over-The-Counter (OTC) market
(DASTY). For more information, visit http://www.3ds.com.
CATIA, DELMIA, ENOVIA, SIMULIA, SolidWorks and 3D VIA are registered
trademarks of Dassault Systčmes or its subsidiaries in the
About Geometric
Geometric (www.geometricglobal.com) is a specialist in the domain of
engineering solutions, services and technologies. Its portfolio of Global
Engineering services and Digital Technology solutions for Product Lifecycle
Management (PLM) enables companies to formulate, implement, and execute global
engineering and manufacturing strategies aimed at achieving greater
efficiencies in the product realization lifecycle.
Headquartered in
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.45.37 |
|
|
1 |
Rs.70.03 |
|
Euro |
1 |
Rs.58.93 |
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 |
|
--PROFIT |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.