MIRA
INFORM REPORT
|
Report Date : |
13.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
GEODESIC LIMITED (w.e.f 19.09.2008) |
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Formerly Known
As : |
GEODESIC INFORMATION SYSTEMS LTD |
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Registered
Office : |
B-3, Lunic Industries, Cross Road NO.B, MIDC, Andheri (East), Mumbai –
400093, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.07.1982 |
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Com. Reg. No.: |
027751 |
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Paid-up Capital
: |
Rs. 184.488 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L65990MH1982PLC027751 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG06243G |
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PAN No.: [Permanent Account No.] |
AAACB6163A |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Software Development, Consultancy and On-Line Trading |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 30000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
B-3, Lunic Industries, Cross Road NO.B, MIDC, Andheri (East), Mumbai –
400093, |
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Tel. No.: |
91-22-28306804 |
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Fax No.: |
91-22-28200832 |
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E-Mail : |
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Website : |
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Factory and Warehouse : |
Khasra No. 1118,
Salempur Industrial Area, Rajputan Pargana, Nar Radhaswami Satsang Bahavan,
Roorkee. District Haridwar 247667, |
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Branches : |
New No. 2/513 (Old
3/396), |
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National Offices 1 : |
Sai Girdhar
Bldg, 2nd Floor, Plot No.87, Street No. 15, MIDC, Andheri East, Mumbai - 400
093, Maharashtra, India |
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|
National Offices 2 : |
Unit No.51,
SDF-II, Seepz Sez, MIDC, Andheri East, Mumbai – 400096, |
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National Offices 3 : |
Santogen House,
Plot No. A/69, 1st Floor, MIDC, Behind Tunga International Hotel, Andheri East,
Mumbai – 400093, |
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National Offices 4 : |
18, 10th Cross,
Mayura Street, Papanna Layout, Outer Ring Road, Bangalore - 560094. |
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National Offices 5 : |
19B, MLA Colony,
Road No. 12, Banjara Hills Hyderabad-500034, |
DIRECTORS
As On 31.03.2010
|
Name : |
Mr. Pankaj Kumar |
|
Designation : |
Chairman |
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|
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|
Name : |
Mr. Kiran Kulkarni |
|
Designation : |
Managing Director |
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Name : |
Mr. Prashant Mulekar |
|
Designation : |
Executive Director |
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|
Name : |
Mr. Vinod Sethi |
|
Designation : |
Non Executive and Independent Director |
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|
Name : |
Mr. Nitin Potdar |
|
Designation : |
Non Executive and Independent Director |
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|
Name : |
G. Krishnan |
|
Designation : |
Non Executive and Independent Director |
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|
Name : |
Tim Bruce |
|
Designation : |
Director - Geodesic Hong Kong Limited |
KEY EXECUTIVES
|
Name : |
Ms. Swati Gupta |
|
Designation : |
Company Secretary and Vice President |
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|
Name : |
Mr. Girish Borkar |
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Designation : |
Chief Accounts
Officer |
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Name : |
Mr. Atul Chitnis |
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Designation : |
Chief Products
Officer |
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Name : |
Mr. Sanjay Sarkar |
|
Designation : |
Chief Design
Officer |
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|
Name : |
Mr. Farhan Ashhar |
|
Designation : |
Chief Technology
Officer |
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|
Name : |
Mr. Jitendra Loyal |
|
Designation : |
Head - Product
Engineering |
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|
Name : |
Mr. Arvind Venkateswaran |
|
Designation : |
Senior VP
(Business Development) and General Manager (US Operations) |
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Name : |
Mr. Anil Raj |
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Designation : |
Head - |
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Name : |
Mr. Sanjay Ramakrishnan |
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Designation : |
Vice President -
Marketing |
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Name : |
Dr P R Subramanya |
|
Designation : |
Vice President –
Technology (GeoAmida) |
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Name : |
Mr. Anirudh Moudgal |
|
Designation : |
Vice President –
Design |
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|
Name : |
Mr. Shibaji Ghosh |
|
Designation : |
Vice President –
Business Development and Sales |
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Name : |
Mr. Deepak Shenoy |
|
Designation : |
Vice President –
Operations |
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|
Name : |
Mr. Arnab Ganguly |
|
Designation : |
Vice President –
Business Development and Sales (GeoAmida) |
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|
Name : |
D Phaneendra Kumar |
|
Designation : |
Associate Vice
President – New Technologies |
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|
Name : |
Ms. Navita Sharma |
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Designation : |
Head - Corporate
Communications |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
20,939,765 |
23.23 |
|
|
20,939,765 |
23.23 |
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|
Total shareholding of Promoter and Promoter Group (A) |
20,939,765 |
23.23 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
471,900 |
0.52 |
|
|
36,328 |
0.04 |
|
|
577,835 |
0.64 |
|
|
37,007,395 |
41.05 |
|
|
38,093,458 |
42.26 |
|
|
|
|
|
|
8,282,821 |
9.19 |
|
|
|
|
|
|
14,765,451 |
16.38 |
|
|
5,983,620 |
6.64 |
|
|
2,076,234 |
2.30 |
|
|
670,157 |
0.74 |
|
|
131,215 |
0.15 |
|
|
118,078 |
0.13 |
|
|
1,151,584 |
1.28 |
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|
5,200 |
0.01 |
|
|
31,108,126 |
34.51 |
|
Total Public shareholding (B) |
69,201,584 |
76.77 |
|
Total (A)+(B) |
90,141,349 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
90,141,349 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
|
Line of Business : |
Software Development, Consultancy and On-Line Trading |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
PRINCIPAL
BANKERS
FOREIGN BANKS
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Borkar and Muzumdar Chartered Accountant |
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|
|
|
Associates : |
Filmorbit.com
India Private Limited B-3 Lunic
Industries, Opp. State Bank of Mumbai - 400
093. Tel: +91-22-28306804 Fax: +91-22-28200832 |
|
|
|
|
Subsidiaries : |
DOMESTIC
SUBSIDIARIES
B-3 Lunic
Industries, Opp. State Bank of Mumbai - 400
093. Tel: +91-22-28306804 Fax: +91-22-28200832 Url: www.chandamama.com
B-3 Lunic
Industries, Opp. State Bank of Mumbai - 400
093. Tel: +91-22-28306804 Fax: +91-22-28200832
B-3 Lunic
Industries, Opp. State Bank of Mumbai - 400
093. Tel: +91-22-28306804 Fax: +91-22-28200832 INTERNATIONAL
SUBSIDIARIES
C/o: Premier Financial
Services Limited, St.Denis Street,
7/F, Man On 12-13, Jubilee
Street, Central,
Formerly Engage
Solutions Limited (Subsidiary of
Geodesic Holdings Limited) 3/F, New No.10,(Old
No. 8-12) Sheung Wan,
(Subsidiary of
Geodesic Holdings Limited)
(Subsidiary of
Geodesic Holdings Limited) Akara Building
(Subsidiary of
Interactive Networks International Inc) Rio Negro, 1320,
(Subsidiary of
Geodesic Holdings Limited) 53rd E Street, 16th Floor,
(Subsidiary of
Geodesic Holdings Limited) E – LOB Office
No., Hamriyah Free
Zone – Shj |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs. 2/- each |
Rs. 300.000 Millions |
|
5000000 |
Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs. 350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
92243799 |
Equity Shares |
Rs. 2/- each |
Rs. 184.488
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
184.488 |
184.430 |
184.306 |
|
|
2] Share Application Money |
0.000 |
0.000 |
18.369 |
|
|
3] Reserves & Surplus |
7519.122 |
5956.326 |
4209.325 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7703.610 |
6140.756 |
4412.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.140 |
0.433 |
1.220 |
|
|
2] Unsecured Loans |
5869.159 |
6409.272 |
5066.706 |
|
|
TOTAL BORROWING |
5869.299 |
6409.705 |
5067.926 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
2.196 |
0.538 |
|
|
|
|
|
|
|
|
TOTAL |
13572.909 |
12552.657 |
9480.464 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
598.600 |
628.571 |
676.381 |
|
|
Capital work-in-progress |
849.391 |
739.439 |
656.392 |
|
|
|
|
|
|
|
|
INVESTMENT |
5139.982 |
4269.380 |
414.655 |
|
|
DEFERREX TAX ASSETS |
16.958 |
0.000 |
18.262 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
38.373
|
0.124 |
0.209 |
|
|
Sundry Debtors |
3550.474
|
3192.512 |
831.780 |
|
|
Cash & Bank Balances |
1926.068
|
2806.524 |
5598.681 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1988.134
|
1544.501 |
998.010 |
|
|
Share Application towards allotment of equity shares |
303.015
|
302.706 |
712.346 |
|
Total
Current Assets |
7806.064
|
7846.367 |
8141.026 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
474.500
|
502.368 |
281.018 |
|
|
Other Current Liabilities |
16.306
|
113.939 |
50.633 |
|
|
Provisions |
426.639
|
428.306 |
242.813 |
|
Total
Current Liabilities |
917.445
|
1044.613 |
574.464 |
|
|
Net Current Assets |
6888.620
|
6801.754 |
7566.562 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
79.358 |
113.513 |
148.212 |
|
|
|
|
|
|
|
|
TOTAL |
13572.909 |
12552.657 |
948.464 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4872.674 |
4937.929 |
2554.556 |
|
|
|
Other Income |
157.564 |
143.298 |
138.720 |
|
|
|
TOTAL (A) |
5030.238 |
5081.227 |
2693.276 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operational expenses |
1968.090 |
1933.528 |
812.796 |
|
|
|
Employees costs |
190.060 |
161.616 |
113.702 |
|
|
|
Other administrative expenses |
360.450 |
282.279 |
108.301 |
|
|
|
Miscellaneous expenditure written off |
34.254 |
34.192 |
11.873 |
|
|
|
Increase in stock of finished goods |
(2.105) |
0.000 |
0.000 |
|
|
|
Exceptional Income |
(79.797) |
(236.094) |
0.000 |
|
|
|
Prior period income/Expenditure |
(0.110) |
95.211 |
(0.129) |
|
|
|
Prior period taxation |
9.316 |
3.437 |
0.000 |
|
|
|
TOTAL (B) |
2480.158 |
2274.169 |
1046.543 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2550.080 |
2807.058 |
1646.733 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
372.094 |
403.450 |
73.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2177.986 |
2403.608 |
1572.889 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
448.086 |
314.683 |
312.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1729.900 |
2088.925 |
1260.816 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(18.930) |
174.820 |
156.774 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1748.830 |
1914.105 |
1104.042 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3915.043 |
2365.083 |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend
paid |
69.183 |
73.772 |
NA |
|
|
|
Corporate Tax on
Interim Dividend |
11.758 |
12.537 |
|
|
|
|
Short Provision
made for Final Dividend FY 2007-08 |
0.000 |
0.021 |
|
|
|
|
Short Provision
made for tax on Final Dividend FY 2007-08 |
0.000 |
0.002 |
|
|
|
|
Proposed Equity
Dividend |
92.244 |
73.772 |
|
|
|
|
Tax on Proposed
Equity Dividend |
15.246 |
12.537 |
|
|
|
|
Transfer to
General Reserve |
174.890 |
191.504 |
NA |
|
|
|
Preference
Dividend |
0.000 |
0.000 |
NA |
|
|
|
Tax on
Preference Dividend |
0.000 |
0.000 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
5300.552 |
3915.043 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
18.96 |
20.76 |
12.09 |
|
|
|
- Diluted |
18.86 |
20.72 |
12.00 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 1st
Quarter |
30.09.2010 2nd
Quarter |
31.12.2010 3rd
Quarter |
31.03.2011 4th
Quarter |
|
Net Sales |
1525.230 |
1631.500 |
1723.260 |
1841.370 |
|
Total Expenditure |
838.150 |
975.460 |
1000.630 |
1032.560 |
|
PBIDT (Excl OI) |
687.080 |
656.040 |
722.630 |
808.810 |
|
Other Income |
25.280 |
50.950 |
36.820 |
15.090 |
|
Operating Profit |
712.360 |
706.990 |
759.450 |
823.900 |
|
Interest |
90.690 |
84.820 |
95.420 |
89.730 |
|
PBDT |
621.660 |
622.170 |
664.030 |
734.170 |
|
Depreciation |
52.000 |
53.150 |
53.390 |
68.070 |
|
Profit Before Tax |
569.660 |
569.010 |
610.660 |
666.100 |
|
Profit After Tax |
569.660 |
569.010 |
610.660 |
666.100 |
|
Prior Period Expenses |
(0.110) |
1.140 |
0.000 |
(0.040) |
|
Net Profit |
569.550 |
570.150 |
610.660 |
666.060 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
34.77
|
37.67 |
40.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
35.50
|
42.30 |
49.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.58
|
24.65 |
14.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.34 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.88
|
1.21 |
1.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.51
|
7.51 |
14.17 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS:
Geodesic fiscal
2010 was a “mixed-bag year”. Geodesic, for the first time, saw a decline in
there growth during fiscal 2010 after having achieved a sustained growth rate,
year on year during the last ten years. The global recession has had a major
impact on the financial performance of companies around the world in virtually
every industry in fiscal 2010, and Geodesic was no exception. However, they do
not wish to cite recession, global meltdown or difficult environment as
excuses. They are planning to include counter measures to handle these
downturns going forward.
Thanks to there
fiscal strength and prudent approach to investment, a strong pipeline of new
products and services, marketing reach and addressing newer segments helped
them tide over the difficult business environment. They responded to the
uncertain economic environment with speed and agility to cover lost ground but
at no point in time, did they sacrifice on innovation, employee motivation,
customer satisfaction, acquisitions and building partnerships with like-minded
companies.
Geodesic continued
its focus on developing technologies that allow people to communicate and
collaborate with one another across multiple digital devices using a universal
interface. Geodesic’s flexible and unified content, communication and
collaboration platform named ‘Continuum’ helps them target the enterprise and
retail consumer markets with ease.
Geodesic designs,
manufactures and markets mobile communication and Internet devices. These
devices are pre-loaded with there communication and collaboration software to
address last mile connectivity issues and remote data processing by
Governments, Banking and Micro-finance companies.
Geodesic grossed
revenues of Rs. 6370.000 millions in 2010 as against Rs. 6530.000 millions in
2009. The earnings for fiscal 2010 was Rs. 2240.000 millions as against Rs.
2640.000 millions in fiscal 2009. The net increase in cash flow for fiscal 2010
was Rs. 210.000 millions.
Revenues declined
across most segments primarily driven by weakness in purchasing technology
products globally and the unfavorable economic environment. Primary factors
contributing to the decline include the following:
- Revenue from unified communication,
collaboration and CRM declined reflecting delayed purchases of technology
and productivity software systems. A price reduction of 25% in license fee
for existing and long served customers along with a decline in the uptake
of licenses by system integrators.
- Revenue from there
The above declines
were partially offset by increased revenue derived from the electronic
computing division, reflecting Geodesic’s ability to reorient its products and
cover lost ground in terms of revenue and creating newer market segments.
Operating income decreased primarily reflecting decreased revenue.
Operating expenses
including research and development costs increased along with increased
general, administrative and sales and marketing expenses aided by increased
head-count related expenses, cost of revenue, and support costs.
MANAGEMENT
DISCUSSION AND ANALYSIS
OVERVIEW
Geodesic is a leading
technology company, focused on improving ways people communicate and
collaborate, with one another across multiple digital devices using a universal
interface. Geodesic’s innovative and flexible communication and collaboration
stack across three dimensions - contacts, product and campaign has helped
enterprises and retail consumers lower their communication costs and increase
efficiency in a big way.
The aim is to
integrate every aspect of content, communication and collaboration across
digital devices and networks to provide enterprises and retail consumers with a
comprehensive and future-proof platform. Geodesic has five business units, viz.
UNIFIED
COMMUNICATION, COLLABORATION and CRM:
Continuum is a set
of integrated services that enables enterprises to manage and leverage various
communication and collaboration mediums effectively across a powerful contact
management module. Continuum helps enterprises reduce communication costs,
boost employee efficiency and productivity whilst logging extensive records for
compliance purposes. CRM - an integral Continuum module parses logged
communication and collaboration transcripts to align product/services/campaigns
with customer needs. Continuum is largely focused on the Banking and Financial
Services Institutions, Large companies, Small and Medium enterprises and the
large retail industry.
MOBILE MEDIA AND
VAS:
Geodesic is at the
forefront of mobile application development and value added services. They have
been developing mobile applications since 2003 and have won several global
awards including the prestigious GSM Asia award for the best mobile Internet
service for there pioneering communication and entertainment applications.
Geodesic has one
of the widest platform (OS and Hardware) support and services to support there
applications. Geodesic’s Mundu has two distinct mobile application stacks -
Communication stack comprising of Mundu IM, SMS and Voice over the net and
Mundu Sync (contact backup and management system). An entertainment stack
comprising of Mundu Radio (streaming Internet Radio across 35000+ global
stations and premium Indian content) and Mundu TV (streaming live television
and video on demand service)
The mobile
application framework is uniquely positioned to address three market segments
viz. Telecom Network Operators, Handset Manufacturers and Retail Consumers in
the Mobile Media and VAS business space.
ELECTRONIC
COMPUTING:
GeoAmida is an
integrated hand held device based on Linux and includes a bio-metric sensor,
smart card reader/ writers, printer, a bio-metric sensor, RFID/ Bar code
reader, GPS, GPRS/ Wi-Fi/ Bluetooth with further scope of adding a camera and
other devices through a USB port. GeoAmida as a device is being used as one of
the tools to mainstream the marginalized and is currently being used for the
purposes of authentication, validation, remote data processing and
connectivity.
GeoAmida is
currently targeted at State and Central Governments of developing nations and
will be used for a wide range of applications including, Mahatma Gandhi
National Rural Employment Guarantee Act (MGNREGA), Public Distribution System,
Financial Inclusion, Remote Health Management and Law Enforcement.
FINANCIAL PRODUCTS
and SERVICES:
Geodesic’s .Fn
suite of financial products is designed to address as the main interface
between enterprise systems of Financial Services companies and their
ever-demanding customer base. The products are designed to enhance transparency
and encourage analysis by using advanced statistical engines and a riveting
user experience.
Wealth Console:
A consolidated
investment reporting and analysis solution with a central communications engine
bring together account statements and reports over large time periods and
enables transparent analysis of investment decisions through a single window.
Walletwap:
A “trade-ready”
mobile application aimed at instant access to an individual’s portfolio round
the clock besides providing complete access to market data and broker research reports.
Wealth console and WalletWAP are being targeted at large broking houses, wealth
managers, Banks and financial portals.
CONTENT MANAGEMENT
SYSTEM:
Geodesic has been
steadily building a content repository that ranges from children’s content to
education to entertainment. This content is being managed in multiple formats
including print, digital and mobile. Geodesic leverages this content to its
advantage when they sign agreement and contracts with Media houses, Telecom
Network Operators, Handset Manufacturers and Retail Consumers. Geodesic
actively used its content management system to help movie studios to combat the
online anti-piracy menace and help these studios get more theater footfall and
thereby earn more revenues for their movies.
REVENUE GENERATION
Geodesic derives its revenues from the following segments:
Geodesic offers
its unique enterprise solutions to and derives its revenues from Enterprise
customers including Banking and Financial Services Institutions, Portals and
Publishers, State and Central Government, Telecom Network Operators, Handset
Manufacturers, Educational institutions, Small/Medium and Large Enterprises.
The strong Business Development team ensures they reach out to enterprises
across the globe using a combination of a direct sales and through system
integrators / partners/ value added resellers.
Retail Offering:
The Mundu stack of
products are retailed across www.mundu.com,
multiple application stores including Nokia’s Ovi Store, Apple’s App Store,
Palm Store, Blackberry Store etc. They launched Spokn- there Internet telephony
product across www.spokn.com and Application Stores. The products have had
great editorial and user reviews besides winning GSM Asia, PC Magazine and
C|net awards. Geodesic’s flexible content, communication and collaboration
platform allows them to implement multiple solutions and business models to
address multiple segments with ease. While they strive to maintain uniform
pricing and business models across the globe, region specific sensibilities
constrain them from implementing a uniform global business models. However,
there business model includes a strong recurring revenue component across there
products and market verticals. “Continuum” - there unified
communication, collaboration, content management and CRM software provides a
comprehensive platform that allows enterprises to communicate and collaborate
seamlessly over all communication channels including Email, Instant Messaging,
SMS and Voice. Continuum lets enterprises use their existing infrastructure
such as EPABXs, desktops and analog phones. They acquired Engage Solutions Hong
Kong (now called Geodesic Hong Kong Limited Limited) in 2005, a company that
offers Spyder – a comprehensive Customer Relationship Management system that
aligns customers based on three dimensions - people, product and campaigns.
Fees derived from Spyder are recognized as recurring license fees on a per seat
per month basis from enterprises. Geodesic has integrated this CRM module as
part of Continuum to ensure better customer management and retention. Spyder is
also licensed as a stand alone product to enterprises that need a CRM system.
Continuum is compliant with regulatory authorities in most regions and is based
on open standards and integrates with most ERP systems, Work and Document Flow
Management systems to ensure a seamless experience across enterprise
applications. Continuum cuts enterprise communication costs by over 35% and
greatly increases employee productivity without losing on convenience. Geodesic
works with several system integrators and channel partners besides there direct
sales team to reach out to enterprises worldwide.
They have
established a business model that is unique to this segment and they charge a
recurring license fee on a per user per month basis to the enterprise whereas
they integrate modules of Continuum with system integrators and mirror their
business model. Modules of Continuum such as Instant Messaging, SMS, content
management are also white labeled for Portals and Publishers to engage their
users with content and lead to revenue generation from advertisements.
Universal communication tools viz. Instant Messaging, SMS, Content Management
allow Portals and Publishers to acquire users at a fraction of a cost that is
generally spent on user acquisition. They have garnered a substantial user base
across various enterprise segments. However, Continuum in most cases requires a
fair amount of integration and customization with their deployed enterprise
systems. Geodesic takes complete ownership of the enterprise account and
outsources customization to IT services companies to ensure they remain focused
on products. Unified Communication, Collaboration and CRM as a concept is in
the growth phase and has immense growth opportunities. Unified communication,
collaboration and CRM contributed substantially to there revenues during fiscal
2010. Geodesic is actively pursuing this space and expects substantial growth
from this business unit.
Mobile media and
VAS refers to there applications viz. Mundu IM, Mundu SMS, Mundu Radio, Mundu
TV and Spokn. These applications are largely used by retail consumers the world
over and Geodesic has successfully managed to address three major sub segments
of the mobile media and VAS viz. Telecom Network Operators, Mobile Handset
Manufacturers and Retail Consumers. Geodesic’s strategy to reach out to retail
consumers through handset manufacturers and telecom operators has led to
Geodesic lowering its user acquisition costs.
Geodesic has
different approaches in modeling there business with the following three
sub-segments; They rely on per user per month subscription fee for Telecom
Operators and charge a per phone royalty fee per handset for device
manufacturers. Geodesic’s retail strategy has largely been subscription and
usage driven. Instant messaging has been fairly commoditized and they have
reduced there subscription fees for Mundu IM from US$11 to US$2.99. The current
Mundu IM version includes social networking connects to make it more relevant
to the Facebook/ Twitter generation. However, they are scheduled to launch a
universal mobile messenger across popular platforms including iPhone,
Blackberry, Android, Symbian and Palm Web OS. They are confident that this
universal mobile messenger will revolutionize the way people interact with one
another. They acquired Interactive Networks Inc. (INI) a company that offers
certified instant messaging solutions to the telecom network providers. INI
strongly strengthens there telecom operator market and they have now signed
with more than 17 telecom operators across Latin America, Asia, Africa and
The demand for
mobile audio, gaming, information and video applications will grow
substantially in the next three years with the advent of 3G/4G/ Wimax/ LTE
networks being rolled out. Mundu radio and Mundu TV stream audio and video
including Live TV (News, Business News, Sports, Entertainment etc) and
video-on-demand. Mundu Radio currently has more than 35000 audio channels and
Mundu TV has more than 20 live television channels besides a lot of video on
demand content. Both these entertainment products have been well accepted by
consumers worldwide. Mundu Radio and TV both support a wide range of networks
(GPRS/EDGE/ 3G/WIFI) and
devices to suit
the needs of the products.
Spokn there voice over
the internet service is a complete telephony system and takes advantage of the
fact 50% of all voice traffic will move over the Internet. With networks and
technologies getting better, Voice quality is bound to improve dramatically.
And perhaps, this is the one reason, why telecom operators are inching towards
integrating their existing infrastructure (traditional cell towers) with the Internet
for their voice services.
Spokn provides
consumers with a virtual phone numbering system in eight countries at this time
and they will extend virtual phone numbering system to 40 different countries.
Spokn’s unique virtual phone numbering system makes Spokn users a local away in
as many as eight countries as of now. Spokn rates are amongst the lowest
calling rates in the world and do not include any hidden costs. Spokn is widely
used by an enterprise in various new formats including click to call, voice
blast and drop, integrated calling from within E-mail etc. Spokn enjoys the
status of a licensed Internet telephony Service Provider in
They acquired PicoPeta
Simputers Private Limited in 2006, a company that pioneered
GeoAmida is sold
as a hardware device with a 12 month warranty and they charge annual
maintenance and upgrade fees from the second year. Customization if any, is
charged at person-hour rates. Geodesic laid emphasis on building content to
power there value added services offering and acquired Chandamama - a
prestigious children’s magazine that has been around for more than 6 decades.
Chandamama is published in 13 Indian languages and its content includes information,
education, mythology, puzzles and games. Chandamama is currently being
digitized and mobilized for global audiences. Consumers can browse through
earlier copies of Chandamama on www.chandamama.com. Chandamama has more than 26
registered characters and close to 70000 stories. People from over 84 countries
access Chandamama.com and they are working towards building Chandamama into an
international brand. Chandamama content will be used as a service offering in
many of there Mundu products besides providing Chandamama stories to Film
Studios and Production houses. Astrology, Bollywood and Cricket rate as
Geodesic has been
integrating content with mobile media and VAS offerings to ensure they
supplement there technology with content services. They have seen a growing
trend of partners aligning with companies like Geodesic because of their
ability to package a solution around strong technology and content services.
BUSINESS TRENDS:
The business has
grown swiftly since inception, resulting in substantially increased revenues,
and they expect that there business will continue to grow. However, there
revenue growth rate generally declined over the last few quarters as a result
of a number of factors including increasing competition, new development
initiatives, enhanced sales cycle. In addition, the current general economic
downturn may result in fewer commercial deals, which could negatively affect
the growth rate of there revenues.
Geodesic has taken
effective steps to ensure consistent revenue growth rate by reorienting there
existing products and market verticals. This reorientation will help them
penetrate newer market segments. The main focus of there marketing plans is to
provide relevant and useful products/ services to there users, reflecting there
commitment to constantly reduce their communication costs and improve their
overall experience. As a result, they expect to continue to take steps to
improve there product/ service offerings and acquire technologies and companies
that add value and enhance there revenues.
They continue to
invest in building necessary employee and systems infrastructure required to
manage there growth and develop and promote there products and services, and
this may cause there operating margins to decrease marginally. They have
experienced and expect to continue to experience growth in there operations as
they build there research and development programs, expand there base of users,
system integrators, app stores, content providers, and increase there presence
in international markets. Also, they have acquired and expect to continue to
acquire businesses and other technologies going forward. These acquisitions
generally enhance the breadth and depth of there products and services
offering, expertise in engineering and other functional areas. The full-time
employee head count has increased over the last 12 months, growing to 600+.
They have recently made efforts to improve the discipline of there hiring
process and they expect to continue to invest in there business, and this may
cause there operating margins to decrease.
The domestic
revenues have grown as a percentage of there total revenues in 2009-2010. This
increase in the portion of there revenues derived from the Indian markets
resulted largely from GeoAmida sales, Continuum licenses and new Telecom
operators for there VAS offerings.
The increase in
international revenues derived from international markets increases there
exposure to fluctuations in foreign currency to Re. exchange rates. They have a
foreign exchange hedging program that is designed to reduce there exposure to
fluctuations in foreign currencies, however this plan will not fully offset the
effect of fluctuations on there revenues and earnings.
Financial Performance:
They generate
there revenue by developing, licensing, usage fees and supporting a wide range
of software products and services for various market segments and digital
devices. The software products and services include Continuum, Spyder, Mundu
communication and entertainment stack, Wealth Console, Content Management
System and GeoAmida. Geodesic grossed revenues of Rs. 6370.000 millions in 2010
as against Rs. 6530.000 millions in 2009. The earnings for fiscal 2010 were Rs.
2240.000 millions as against Rs. 2640.000 millions in fiscal 2009. The net
increase in cash flow for fiscal 2010 was Rs. 210.000 millions. Revenues
declined across most segments primarily driven by weakness in purchasing
technology products globally and the unfavorable economic environment. Primary
factors contributing to the decline include the following:
- Revenue from unified communication,
collaboration and CRM declined reflecting delayed purchases of technology
and productivity software systems. A price reduction of 25% in license fee
for existing and long served customers and a decline in the uptake of
licenses by system integrators.
- Revenue from there
- General expenses including
administrative, sales and marketing costs increased Rs. 570.000 millions
or 7%, primarily due to increased costs for new offices, logistics and
contingencies. As part of that program, they increased there marketing and
advertising expenses to promote there brands.
- Human resource related expenses
amounted to an increase of Rs. 210.000 millions or 9% , driven by an
increase in head-count during the past 12 months and an increase in
salaries and benefits for existing head-count.
- Cost of revenue increased Rs. 360.000
millions or 9%, primarily reflecting increased marketing and Business
development costs, online costs, including online traffic acquisition,
data center and equipment, software systems, network management, logistics
and head-count related costs.
NEW PROJECT LAUNCHES:
The product
development philosophy involves continuous innovation and augmenting there existing
products to churn new and exciting products. They believe in frequent releases
and launch these products as Beta. They then iterate and improve the user
experience and launch the product. This strategy allows them to get the product
tested by a wider audience.
Geodesic launched
a spate of new products, technologies and software products to cater to there
customers and retail consumers besides augmenting there existing products with
new features to cater to newer segments.
Continuum - Geodesic launched
“Continuum” a cloud based enterprise wide unified communication
(Email/IM/SMS/Voice) and collaboration (Text-Audio-Video Conferencing,
white-boarding, application sharing) suite that seamlessly integrates Spyder
CRM. Continuum focuses on communications enabled business processes,
collaboration, contact management and saves communication costs, increases
efficiency and reduces the sales cycle across the enterprise. Continuum is
available for desktops, web and mobile devices for mobility purposes and is the
only product in the world to integrate CRM with unified communication and
collaboration. Continuum lets them address newer markets including the huge
small/ medium enterprise market across multiple geographies.
GeoAmida - Geodesic GeoAmida
is one of the most flexible handheld devices based on Linux and open protocols.
They developed Open Alchemy - open software development kit that allows system
integrators to build various applications for the GeoAmida. GeoAmida developed
transportation and tele-medicine applications for GeoAmida to cater to
E-governance initiatives in
Mundu TV - Geodesic launched
Mundu TV a desktop/mobile application that streams Live TV and video on demand
content from there servers across the world. Mundu TV currently stream News,
Business News, Sports, Entertainment and Lifestyle channels and is available on
a host of platforms including Symbian, Windows Mobile and desktops, Mac OS,
Android etc. Geodesic will deepen its association with handset manufacturers
and telecom network operators with Mundu TV.
Mundu SMS: Geodesic launched
its International SMS service for India, Australia, Singapore, Philippines,
South Africa, U.A.E. and United Kingdom. Mundu SMS service will be available
for more than 100 countries during this financial year. They augmented there
SMS service with a scheduler that allows consumers to schedule SMS wishes for
events, occasions and notifications through out the year. Mundu SMS has been
deeply integrated with Continuum to enhance revenue generating opportunities
across segments. Mundu SMS is a flexible service and is available for the
desktop and mobile phones across multiple platforms.
Film Orbit: The Company
launched a Beta version of Filmorbit, a portal dedicated to the entertainment
and media industry in
Chandamama, a subsidiary of
Geodesic, launched several SKU’s including the Art Book and a series of new
comics. They also launched a widget that provides new story alerts to its
subscribers. The widget has been downloaded in as many as 84 countries. They
are building an international brand out of Chandamama and the future periods
will see mobile, video and audio stories across digital devices.
AWARDS AND RECOGNITION:
Geodesic bagged
Deloitte Technology Fast 500 Asia Pacific 2009 award and Deloitte Technology
Fast 50 India 2009 award besides being a Forbes 200 Best under a Billion-Asia
Pacific companies – 2009. GeoAmida won at the NASSCOM India Leadership Forum
2010 award. Mundu IM won the Best Internet Mobile service award at GSM Hong
Kong and also won the Handango Championship 2009 award for the best social
application on Blackberry. Mundu Radio was rated as one of the top 10 Nokia OVI
store application in the entertainment section and was listed as one of the top
six applications at the AT and T Dev Central Fast-Pitch 2009 Platinum Awards
Contest during CTIA Wireless.
STRATEGY GOING
FORWARD
Geodesic’s
business has grown rapidly over the past decade and there strategy of
partnering with like minded companies, system integrators, popular web stores
in distributing there products has resulted in consistent revenue and earnings
growth. They will continue with there strategy of partnering with like
enterprises going in FY 2011. They are and will be investing heavily in
building the necessary system and network infrastructure required to manage
there growth. They will develop new products and services in the space of
unified communication and collaboration on the mobile phones and other digital
devices. They will continue to invest in there research and development program
to build products to increase there presence in international markets including
the developing countries. They have acquired and expect to acquire businesses
and technologies as and when the opportunity presents itself.
The economic
downturn has provided them with another opportunity - Talented workforce. The
full-time head count has now touched 600+ people and they will continue to
invest in talented people to stay ahead of the competition.
They will make
significant capital expenditure investments into information technology
infrastructure and offices globally to increase there market footprint
internationally. As a result of all of the above, the growth rate of there
expenditure may exceed there revenue growth.
FACTORS AFFECTING
THE BUSINESS:
POTENTIAL
FLUCTUATIONS IN RESULTS
The operating
results may fluctuate because of a variety of factors including changing
economic conditions and its related effects on workforce size, purchasing
patterns, compliance with new regulatory requirements, mix of products and
services sold, ability to effectively integrate acquired businesses and
industry trends.
PRODUCT
DEVELOPMENT AND TECHNOLOGICAL CHANGE
Continual change
and improvement in software connectivity, hardware technologies characterize
the markets for communication and collaboration systems. The Company’s future
success will depend largely on its ability to increase the capabilities and
enhance its existing products, to develop new products and interfaces to
third-party products on a timely basis to meet the increasingly sophisticated
needs of its customers.
ATTRACTING AND
RETAINING TECHNICAL PERSONNEL
Geodesic has
successfully managed to hire the best talent from across the globe. However,
the company may encounter intense competition for experienced technical
personnel for product development, technical support, marketing and sales. This
could adversely affect there ability to develop, support and sell products on
time.
COMPETITION
They operate in a
market characterized by swift changes and convergence. They face formidable
competition in every aspect of there business; particularly from companies that
seek to connect people across geographies over IP based communication and
collaboration on multiple platforms. They do face competition from other mobile
VAS providers, including start-ups as well as developed companies that are
enhancing or developing mobile applications and technologies.
They provide
several web and mobile products and services, including a universal instant
messenger, SMS, VoIP, Internet Radio and Live TV and video on demand besides
financial products, that compete directly with new and established companies
that offer communication, content, and entertainment services integrated into
their products or media properties. Geodesic however, has a well-integrated
platform that includes content management, communication, collaboration and a
CRM module across platforms that will ensure they stay ahead of the curve. They
are augmenting features and products to there existing products and own the
complete value chain of products and services they address.
DEPENDENCE ON
ALTERNATE DISTRIBUTION CHANNELS
The Company
markets and sells its products through its direct sales organization,
independent value added resellers, OEMs and System Integrators. Substantial
portion of there revenue was generated through sales to dealers and OEMs.
Reduction in the sales efforts of the Company’s major dealers and/or OEMs, or
termination or changes in their relationships with the Company, could have an
adverse effect on the results of the Company’s operations.
RELIANCE ON KEY
VENDORS
The Company
depends upon the reliability and viability of a variety of software development
tools owned by third parties to develop its products. If these tools are
inadequate or not properly supported, the Company’s ability to release
competitive products in a timely manner could be adversely effected. Also,
certain parts and components used in the Company’s hardware products are
purchased from single suppliers. Complete dependency from single source may
have an adverse effect on the Company’s operating results.
OUTSTANDING
PAYMENT
The company faces
problems of outstanding payments, with new customers and existing debtors
asking for a longer credit period owing to the global meltdown. The cash turn
around cycle can be longer and cash flows may get affected in future periods.
SUBSIDIARIES
The Company has
continued its growth momentum over the decade and it along with its
subsidiaries posts good performance. They acclaim ourselves to be a global
corporation with 5 (Five) subsidiaries, 6 (Six) step down subsidiaries and 2
(Two) associate Companies, both in
The chart below
shows the structure of subsidiary companies and their linkage to the company.
Indian
Subsidiaries
Chandamama India Limited (Chandamama)
Chandamama has
turned out be a bright feather in there hat. Though the Company has reported
losses of Rs. 28.839 millions for the year, it could break even in the March
2010 quarter. This means setting aside the accumulated losses and past non
receivables, the Company is now able to meet its expenses out of its revenues.
This certainly is great news for Chandamama and all those associated with
Chandamama. The management recognizes that it shall need to look into the
accumulated losses and the financial turmoil that the Company went through in
the past decade, however it would still need some financial support for another
year or so, after which, they expect the Company to sustain operations all by
itself.
Chandamama as they
all know is a brand with the highest recall value. The management continues to
believe in the Brand and therefore continues in the brand investment exercise.
During the year, Chandamama has launched the much coveted Art Book aptly titled
‘CHANDAMAMA ART BOOK’. The art book is a compilation of various paintings
typifying Chandamama Art, which has overtime become an art form in itself. The
Art Book is a carefully selected collection from there priceless treasure of
masterpieces drawn by various world-class artists like Sankar, MTV Acharya,
Chitra and Vaapa, who earned their fame as original watercolor artists since
1947. These renowned artists, whose works are presented in the book, have been
associated with Chandamama in its journey that spans over 6 decades. The Book
comprising of two volumes, collates over 175 paintings and have mostly been the
cover pages of Chandamama. The paintings cover a variety of topics ranging from
nature to human emotions and mythology. The interesting comparison of art
styles used by these masters, their interpretation and expression on similar
topics, makes this collection a must have for all art lovers. In addition to
this wonderful book, Chandamama also came up with a new concept called the
“Chandamama Annual” which shall be in addition to all publications of
Chandamama and shall be a book published once every year. This book shall be a
compilation of stories featured in Chandamama’s earlier issues and shall also
include various exciting activities to engage kids between the ages 4-14.
The management is
extremely happy with the results of strategic changes and new launches in the
year gone by in Chandamama. The Registered Office of Chandamama was shifted
from the State of Tamil Nadu to the State of Maharashtra as per the approval of
the Shareholders received on 19.08.2009 and subsequent approval of the Hon’ble
Company Law Board, Southern Region, Chennai Bench vide its order dated 24th
February, 2010. Further, the Board of Directors of Chandamama decided to shift
its Registered Office to B-3, Lunic Industries, Cross Road B, MIDC, Andheri
(East), Mumbai – 400 093 with effect from 25.02.2010. This would enable better
control and ease of operations. There have been changes in the Board of
Directors, Management and the Editorial Team. Mr. Prashant Mulekar, there
Executive Director has taken over as Executive Director in Chandamama India
Limited. Mr. Prashant Mulekar now also acts as the Publisher and Editor for all
Chandamama magazine editions.
Chandamama also
changed its Registrar and Share Transfer Agents from GNSA Infotech Services
Private Limited, Chennai to Mondkar Computers Private Limited, Mumbai for ease
of operations. Chandamama made a preferential issue of 20,00,000 (Twenty Lakh)
Equity Shares to the Company on 22.09.2009. As on the date of this Report, the
Company holds 96.91% shareholding in Chandamama. Chandamama, made a final call
on 11.01.2010 of the balance Rs. 5/- per share on 35,30,325 partly paid up
equity shares allotted in terms of the Right issue offer document dated
24.11.2008.
The final call
notices for the same were sent on 12.01.2010. On receipt of the said final call
money from all the shareholders, the status of the said equity shares was
changed to the fully paid up equity shares of Rs. 10/- per share.
Newly Incorporated
Indian Companies
During the year,
two new Indian subsidiaries were incorporated by the Company in the name of ITM
Digital Private Limited and Geodesic Gridpoint Energy Private Limited on
07.01.2010 and 13.01.2010 respectively. The Company has established a strategic
alliance with ZEEL (Zee Entertainment Enterprises Limited), to launch real time
and on delivery entertainment applications for the mobile and Internet Enabled
devices. ZEEL and the Company has formed a new company called ITM Digital Private Limited to
address the hugely growing market for content convergence and mobile value
added services.
Geodesic Gridpoint Energy Private Limited intends to develop
products meant to reduce energy losses and/ or handle projects which would help
in reducing energy usage and also product could be used for transmission of
energy and information in an efficient manner. Both the aforesaid newly
incorporated subsidiaries wish to start their operations very soon.
Foreign
Subsidiaries
As you are aware,
the Company has a subsidiary called Geodesic Holdings Limited (GHL),
Geodesic
Technology Solutions Limited (GTSL), Hong Kong is the only company
outside of
During the
financial year 2009-2010, the Company has incorporated a step down subsidiary
– Geodesic Technology FZE (GTF),
Associate
Companies
Filmorbit.Com India Private Limited
During the year,
Filmorbit issued 50,000 (Fifty Thousand) equity shares on preferential basis to
two of its Directors Mr. Krishnan Rajagopalan, Mrs. Kalyani Rajagopalan and his
family. Consequently, the paid up share capital of Filmorbit was increased from
Rs. 0.500 million to Rs. 1.000 million and as a result of which the Company’s
shareholding in Filmorbit came down to 49.99% and Filmorbit ceased to be
subsidiary of the company.
The authorised
share capital of Filmorbit was increased from Rs. 0.500 million to Rs. 2.000
millions on 03.11.2009 as approved by its Shareholders.
Filmorbit has the largest
metadata set about Indian Films and TV which is augmented by licensed data and
content such as EPG, Theatre Listings, Music and Video and packaged to provide
compelling experiences across multiple platforms while enabling numerous
revenue opportunities for the Company and associated partners. FilmOrbit
redefines how the consumers discover content, people and talent in the Indian
entertainment space. Consumers will finally enjoy access to a range of
websites, social apps, mobile apps, widgets and services that bring fun and
relevant experiences to the screen of their choice.
Fixed Assets:
- Plant and machinery
- Computers
- Vehicles
- Leasehold improvements
- Furniture and fixtures
- Office equipment
- Internally generated software
- Testing and tooling software
- Other software
AS PER WEBSITE DETAILS
PROFILE:
From an era when there postal services flourished delivering us mail, to
a generation where the word 'mail' denotes an e-mail, they've come a long way!
The only constant in these ongoing changing times has been the need to reach
out. Communicate. Collaborate. Build.
With globalization, the need to interact intensified. Innovative technology was
the answer. Building solutions that would help break barriers of time and
space; the ability to connect and collaborate with anyone, anytime, anywhere
became the need of the hour.
Subject (formerly Geodesic Information Systems Limited) was incorporated in
1999 by Pankaj Kumar, Kiran Kulkarni, Prashant Mulekar and Mahesh Murthy. A
publicly traded company, Geodesic is listed on the Bombay Stock Exchange (BSE),
the National Stock Exchange (NSE) and its Foreign Currency Convertible Bonds
(FCCB) is on the Singapore Stock Exchange. With 14 offices spread across the
globe, four marketing partners and 700 employees, Geodesic earned revenues of
Rs 2370.000 millions, and net profit at Rs 920.000 millions during the fourth
quarter of 2011.
Geodesic's real time content, communication and collaboration platform, in
conjunction with a powerful Customer Alignment and Relationship management
(CRM), works seamlessly across the web, desktops and mobile devices. The
flexible and scalable platform addresses both the retail and the enterprise
segment, and has been well received by the banking and financial services
industry, portals and publishers, enterprises including SMEs, mobile device
manufacturers, telecom operators and retail mobile users.
In its constant quest to evolve and expand its suite of products and solutions
across segments and new geographies, Geodesic acquired
- Picopeta Simputers Private Limited, a
Bangalore-based company, engaged in building hand held devices and
solutions for the developing world.
- Engage Solutions, a Hong Kong-based
software solutions company for its comprehensive Customer Alignment and
Relationship Management solution.
- Swedish firm, Clangula IT to address
the lucrative North European markets and work closely with handset
manufacturers.
- E Dot Solutions, a web 2.0 company
engaged in large portal deployments.
- Chandamama India Limited - the number 1
Indian children's print magazine for the purpose of acquiring content -
digitizing and mobilizing it to address the growing retail mobile users.
- Interactive Networks Inc., a Latin
America-based software provider of advanced instant messaging and value
added solutions. This acquisition expanded Geodesic's product profile and
reach beyond
A proud recipient of several international awards including Deloitte
Touche Tohomatsu Fast 50 and Fast 500 Asia Pacific for six consecutive years,
the prestigious NASSCOM Social Innovation Award in 2010, Also listed in the
Data Quest TOP 200 companies of the Indian IT Industry, Geodesic has been
featured in Forbes 200 'Best under a Billion-Asia Pacific' for 2008 and 2009.
Geodesic's award winning products have been well appreciated by NDTV,
PRESS RELEASE:
09.06.2011
Geodesic, the digital messaging and content solutions company, which has
developed popular apps like Mundu TV, Mundu Radio, Mundu IM and Spokn, has
launched its first gaming app for the iPad, Carrom MP. Although the ‘MP’ in the
name stands for multi-player, the game does not offer network based multi
player support. It simply means that the game can be played by more than one
player at the same location, and the iPad acts like a virtual Carrom board. The
game can be downloaded free of charge from Apple’s App Store. It’s difficult to
ascertain if Carrom originated in
- Carrom MP features subtle graphics, which are easy on the eye, while being
detailed enough. It features three different modes: a Solo mode where players
can just practice moves, a One-on-One mode, where two players can play head-on
and a Doubles mode in which teams of two can play against each other. Players
can enter their names and even choose their own Striker designs.
-
While it is loyal to the set of rules that govern
game play in a game of Carrom, it makes it interesting, intuitive and a little
easier to play, by using a sort of projectile motion technique, which works in
way similar to the popular game Angry Birds.
-
A player can simply control the motion of the
Carrom striker using his finger. He can virtually pull and strike it, pointing
it towards the desired direction. The length of the pull can be used to vary
the intensity of the strike. The game even gives out the trail of the motion of
the striker, before the player fires it, by simply releasing his finger. It
also allows players to save Game Points.
-
Carrom MP, without doubt makes for a good casual
gaming experience, more so because of its involving game play. We’d love to see
a networked multi-player version of the game, with
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
|
1 |
Rs.72.93 |
|
Euro |
1 |
Rs.64.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
69 |
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.