MIRA
INFORM REPORT
|
Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAI INFOSYSTEM (INDIA) LIMITED (w.e.f. 24.01.2008) |
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Formerly Known As : |
SAI INFOSYSTEM ( |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
01.01.2003 |
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Com. Reg. No.: |
04-41786 |
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Capital Investment / Paid-up Capital : |
Rs.230.901 Millions |
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CIN No.: [Company
Identification No.] |
U30007GJ2003PLC041786 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMS05903C |
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PAN No.: [Permanent
Account No.] |
AAHCS2059R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Personal Computers and I T Software. |
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Employees : |
800 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 12000000 |
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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 strong. There appears a considerable
increase in the sales turnover of the company during the year 2011. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
|
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Tel. No.: |
91-79-30110400 |
|
Mobile No.: |
91-8000759705 (Mr. Ritesh Acharya) |
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Fax No.: |
91-79-26763072 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Administrative Office: |
“Saicare” Paresh Co-op. Housing Society, Near Stadium Petrol Pump,
Near Chaitanya Bus Stop, Navrangpura, Ahmedabad – 380 014, Gujarat, India |
|
Tel No.: |
91-79-26564425 / 260 |
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|
|
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Branch Office : |
Located at: ·
Ahmedabad ·
·
Mumbai ·
·
Jaipur ·
|
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Sunil Seurendrakumar Kakkad |
|
Designation : |
Managing Director |
|
Address : |
3 Ashwaraj Bunglos, Near Auda Garden, Prahalad Nagar Road, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
10.05.1971 |
|
Qualification : |
B.E. Electronics and Telecommunication |
|
Date of Appointment : |
01.01.2003 |
|
DIN No. : |
00613257 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U30007GJ2003PLC041786 |
SAI
INFOSYSTEM (INDIA) LIMITED |
Managing
director |
01/02/2008 |
01/01/2003 |
Active |
NO |
|
2 |
U32100GJ1997PTC032724 |
E-MALL
INFOTECH PRIVATE LIMITED |
Director |
28/09/2011 |
05/08/2006 |
Active |
NO |
|
3 |
U74140GJ2010PTC063411 |
SISAM
KNOWLEDGE CITY PRIVATE LIMITED |
Director |
28/12/2010 |
28/12/2010 |
Active |
NO |
|
4 |
U45209GJ2011PTC064826 |
GUJARAT
INNOVATION INFRASTRUCTURE PRIVATE LIMITED |
Director |
07/04/2011 |
07/04/2011 |
Active |
NO |
|
5 |
U45200GJ2011PTC065955 |
SUJYOT
INFRASTRUCTURE PRIVATE LIMITED |
Director |
17/06/2011 |
17/06/2011 |
Active |
NO |
|
6 |
U45200MH1998PTC115419 |
CLICK
TELECOM PRIVATE LIMITED. |
Director |
05/09/2011 |
25/07/2011 |
Active |
NO |
|
7 |
U64100DL2011PTC222846 |
INTEGRATED
TELEINFRA PROVIDER PRIVATE LIMITED |
Director |
26/07/2011 |
26/07/2011 |
Active |
NO |
|
Name : |
Mr. Subodhchandra Trambaklal Shah |
|
Designation : |
Director |
|
Address : |
Sneh Roop, Rajnagar Club Street, Ellisbridge, Ahmedabad – 380 009, Gujarat, India |
|
Date of Birth/Age : |
20.01.1937 |
|
Qualification : |
F.CA., ACS. |
|
Date of Appointment : |
13.03.2008 |
|
DIN No. : |
00317408 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65910GJ1995PTC025683 |
VANGUARD
FINANCE PVT LTD |
Director |
01/05/1995 |
01/05/1995 |
- |
Active |
NO |
|
2 |
U67190GJ2003PTC042418 |
PREP-MASTERS
ACCOUNTING PRIVATE LIMITED |
Director |
23/05/2003 |
23/05/2003 |
- |
Strike
off |
NO |
|
3 |
L51909GJ1994PLC022719 |
NANDAN
EXIM LIMITED |
Director |
18/07/2005 |
18/07/2005 |
02/03/2007 |
Active |
NO |
|
4 |
U30007GJ2003PLC041786 |
SAI
INFOSYSTEM (INDIA) LIMITED |
Director |
30/09/2008 |
13/03/2008 |
- |
Active |
NO |
|
Name : |
Mr. Gautam Chandrakant Gandhi |
|
Designation : |
Director |
|
Address : |
ADJ TO 2 Prabhat Society, Paldi, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
28.11.1935 |
|
Qualification : |
B.A. L.L.B |
|
Date of Appointment : |
15.04.2008 |
|
DIN No. : |
00049735 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L29199GJ1984PLC007195 |
AMRADEEP
INDUSTRIES LIMITED |
Director |
10/03/1994 |
10/03/1994 |
31/03/2008 |
Active |
NO |
|
2 |
U51909GJ2002PTC040883 |
POLLUX
GLOBAL STEEL PRIVATE LIMITED |
Director |
20/06/2002 |
20/06/2002 |
22/08/2007 |
Active |
NO |
|
3 |
L51909GJ1994PLC022719 |
NANDAN
EXIM LIMITED |
Director |
26/08/2004 |
26/08/2004 |
- |
Active |
NO |
|
4 |
U30007GJ2003PLC041786 |
SAI
INFOSYSTEM (INDIA) LIMITED |
Director |
30/09/2008 |
15/04/2008 |
- |
Active |
NO |
|
Name : |
Mr. Prem Puran Behl |
|
Designation : |
Director |
|
Address : |
E-6, Defence Colony, New Delhi – 110 024, India |
|
Date of Birth/Age : |
10.09.1944 |
|
Qualification : |
B.A.(Hons) |
|
Date of Appointment : |
30.05.2009 |
|
DIN No. : |
00409205 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45309DL1992PTC047360 |
COMNET
EXHIBITIONS PRIVATE LIMITED |
Director |
28/01/1992 |
28/01/1992 |
- |
Active |
NO |
|
2 |
U93000DL1996PTC081419 |
EXHIBITIONS
AND FAIRS INTERNATIONAL PRIVATE LIMITED |
Director |
26/08/1996 |
26/08/1996 |
- |
Active |
NO |
|
3 |
U92199DL1998PTC093065 |
EXHIBITIONS
INDIA PRIVATE LIMITED |
Managing
director |
01/04/1998 |
01/04/1998 |
- |
Active |
NO |
|
4 |
U63040DL1999PTC098537 |
COMNET
TRAVELS PRIVATE LIMITED |
Director |
23/02/1999 |
23/02/1999 |
- |
Active |
NO |
|
5 |
U32110DL1999PTC098538 |
COMNET
PUBLISHERS PRIVATE LIMITED |
Director |
23/02/1999 |
23/02/1999 |
- |
Active |
NO |
|
6 |
U74300DL1999PTC098536 |
COMNET
ADVERTISING PRIVATE LIMITED |
Director |
23/02/1999 |
23/02/1999 |
- |
Active |
NO |
|
7 |
U72900DL2000PTC104944 |
CONVERGENCE
PLUS.COM PRIVATE LIMITED |
Director |
03/04/2000 |
03/04/2000 |
- |
Active |
NO |
|
8 |
U74999MH1968GAP014120 |
INDO-AMERICAN
CHAMBER OF COMMERCE |
Director |
06/10/2004 |
06/10/2004 |
- |
Active |
NO |
|
9 |
U72300DL1996PLC075672 |
INTEX
TECHNOLOGIES (INDIA) LIMITED |
Director |
02/08/2008 |
07/08/2007 |
12/03/2010 |
Active |
NO |
|
10 |
L74899DL1993PLC051841 |
B.A.G.
FILMS AND MEDIA LIMITED |
Director |
26/08/2009 |
30/07/2008 |
- |
Active |
NO |
|
11 |
U15400GJ2008PTC055316 |
RASA
SPICES N FOODS PRIVATE LIMITED |
Director |
30/11/2009 |
11/04/2009 |
10/12/2010 |
Active |
NO |
|
12 |
U30007GJ2003PLC041786 |
SAI
INFOSYSTEM (INDIA) LIMITED |
Director |
25/09/2009 |
30/05/2009 |
- |
Active |
NO |
|
13 |
U74900DL2010PTC200696 |
EXHIBITIONS
INDIA (GUJARAT) PRIVATE LIMITED |
Director |
25/03/2010 |
25/03/2010 |
- |
Active |
NO |
|
14 |
U74140DL2011PTC218531 |
COMNET
DESIGN PRIVATE LIMITED |
Director |
04/05/2011 |
04/05/2011 |
- |
Active |
NO |
|
15 |
U92132DL2005PLC142230 |
DHAMAAL24
RADIO NETWORK LIMITED |
Additional
director |
11/11/2011 |
11/11/2011 |
30/05/2012 |
Active |
NO |
|
Name : |
Mr. Maheshchander Mulkhraj Julka |
|
Designation : |
Whole-time director |
|
Address : |
B-104, Sagar Tower, Premchand Nagar Road, Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
26.11.1944 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.12.2010 |
|
DIN No. : |
00153180 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
L17110GJ1995PLC027025 |
ASIAN
GRANITO INDIA LIMITED |
Director |
10/08/2006 |
10/08/2006 |
Active |
NO |
|
2 |
U30007GJ2003PLC041786 |
SAI
INFOSYSTEM (INDIA) LIMITED |
Whole-time
director |
01/12/2010 |
13/03/2008 |
Active |
NO |
|
3 |
U32100GJ1997PTC032724 |
E-MALL
INFOTECH PRIVATE LIMITED |
Director |
30/09/2008 |
01/04/2008 |
Active |
NO |
|
Name : |
Mr. Narinder Sharma |
|
Designation : |
Whole-time director |
|
Address : |
House No.25, Sector 8-A, Chandigarh – 160008, India |
|
Date of Birth/Age : |
07.10.1943 |
|
Date of Appointment : |
16.07.2011 |
|
DIN No. : |
00150124 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U64202DL2000GOI107905 |
RAILTEL
CORPORATION OF INDIA LIMITED |
Director |
19/10/2005 |
19/10/2005 |
18/10/2008 |
Active |
NO |
|
2 |
L27109AP2004PLC042375 |
BS TRANSCOMM
LIMITED |
Director |
03/06/2008 |
02/02/2008 |
27/03/2009 |
Active |
NO |
|
3 |
U74140DL2008PTC179131 |
CHANDIGARH
CONSULTING PRIVATE LIMITED |
Director |
05/06/2008 |
05/06/2008 |
- |
Active |
NO |
|
4 |
U74900AP2008PLC059595 |
BS
INFRATEL LIMITED |
Director |
10/06/2008 |
10/06/2008 |
27/03/2009 |
Active |
NO |
|
5 |
U30007GJ2003PLC041786 |
SAI
INFOSYSTEM (INDIA) LIMITED |
Whole-time
director |
01/08/2011 |
16/07/2011 |
16/01/2012 |
Active |
NO |
|
6 |
U64100DL2011PTC222846 |
INTEGRATED
TELEINFRA PROVIDER PRIVATE LIMITED |
Director |
26/07/2011 |
26/07/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Hemalkumar Janardanbhai Sadiwala |
|
Designation : |
Company Secretary |
|
Address : |
6, Jaykishan Society, Maninagar (East), Ahmedabad – 380 008, Gujarat,
India |
|
Date of Appointment : |
10.05.2010 |
|
PAN No. : |
AZQPS0950E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of
Equity Shares |
|
Sunil Seurendrakumar Kakkad |
|
3756832 |
|
Vijay Mansangbhai Mandora |
|
801000 |
|
Cameo Infotech Private Limited (Formerly known as Kishore Computers
Private Limited), |
|
1726678 |
|
Bennett Coleman and Company Limited, |
|
359736 |
|
Jyoti Kakkad |
|
817504 |
|
Surendra Kakkad |
|
129375 |
|
Sunil S Kakkad (HUF) |
|
555562 |
|
Saumya S Kakkad |
|
23927 |
|
Ranjana Gupta |
|
50000 |
|
Vinay Kumar Gupta |
|
50000 |
|
Tanya Infocontrol Private Limited, India |
|
50000 |
|
E-Zone Infowork Private Limited, India |
|
50000 |
|
I-Soft Technocare Private Limited, India |
|
33000 |
|
Ritesh Mehta |
|
274451 |
|
Power Infocontrol and Services Private Limited, India |
|
206250 |
|
Swan Infocomm Private Limited, |
|
205833 |
|
Total |
|
9090148 |
As on 29.09.2011
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Brand Equity Treaties Limited, India |
|
1 |
List of allottees
As on 30.01.2012
|
Names of Shareholders |
|
No. of
Equity Shares |
|
Brand Equity Treaties Limited, India |
|
76710 |
As on 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
28.94 |
|
Directors
or relatives of directors |
|
58.12 |
|
Others
|
|
12.94 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Personal Computers and I T Software. |
|
|
|
|
Products : |
·
Hardware ·
DG S and D ·
Software Solution ·
KPO/BPO ·
STPI/ SEZ |
GENERAL INFORMATION
|
Employees : |
800 Approximately |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Industrial Finance Branch, Gujarat Bhavan,
Opp. M J Library, Ellisbridge, Ahmedabad – 380 006, ·
Allahabad Bank S P Nagar Branch, Navin House, Opp. S P
Seva, Samaj Bhavan, Navrangpura, Ahmedabad – 380 006, ·
State Bank of Overseas Branch, 3rd Floor,
Amrut Jayanti Bhavan, Navjivan Trust Complex Navjivan P O Ahmedabad – 380014,
·
Central Bank of S M Road Branch, Satelite, Ahmedabad –
380015, ·
IDBI Bank Limited, Ellisbridge Branch Ahmedabad, ·
Bank of ·
State Bank of Bikaner and Jaipur, CG Road Branch
Ahmedabad, Gujarat, India ·
The Hongkong and Shanghai Banking Corporation
Limited, CG Road Branch Ahmedabad, Gujarat, India ·
Corporation Bank, Industrial Finance Branch,
Rangoli Complex, 1st Floor, Opposite V S Hospital, Ahmedabad - 380007,
Gujarat, India |
||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||
|
Facilities : |
Note · Rupee Term loans bank secured represents TERM LOAN Primary Security: first pari-passu charge over the assets financed out of bank finance, Collateral Security: pari-passu equitable mortgage of Company’s immovable properties and pari-passu hypothecation of all current assets including book debts, stock of raw material , bills receivables , semi finished and finished goods and other current assets of the Company both present and future. The Company has created the above charges over the current and fixed assets of the Company in favor of consortium banking members which include State Bank of India, IFB Branch Ahmedabad, IDBI Bank Ltd., Ellisbridge Branch Ahmedabad, Bank of Baroda, Ashram Road Branch Ahmedabad, State Bank of Bikaner and Jaipur, CG Road Branch Ahmedabad and Corporation Bank, Aharam Road Branch Ahmedabad. Collateral Security: Assignment of SBI Life Unit Plus II Pension Plan held by the · Company in the name of Directors · Working Capital loans secured represents CASH CREDIT ACCOUNT Primary Security: Pari-passu charge by hypothecation of book debts, Stock of raw material , bills receivables , semi finished and finished goods and all other current assets of the Company both present and future, Collateral Security: pari passu charge over company’s fixed assets situated in the state of Gujarat and Dadara and Nagar Haveli . Collateral Security: Assignment of SBI Life Unit Plus II Pension Plan held by the Company in the name of Directors. · Loans taken for vehicle represent CAR LOAN secured by hypothecation of cars.
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303/304, Milestone, Near Drive in Cinema, Opp. T V Tower, Thaltej,
Ahmedabad – 380 054, |
|
Tel. No.: |
91-79-27474466 |
|
Fax No.: |
91-79-27479955 |
|
PAN No.: |
AAGFD1279G |
|
|
|
|
Associates : |
·
Smit Infotech ·
Sai Compuserve
|
|
|
|
|
Subsidiaries : |
·
E-Mail Infotech Private Limited, CIN No.: U32100GJ1997PTC032724 ·
SIS Global FZE-UAE ·
SIS Global Inc-UAE ·
Kompac Technologies Limited ·
Sai Infosystem |
CAPITAL STRUCTURE
After 29.09.2011
Authorised Capital : Rs.320.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.Rs.94.294 Millions
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs.170.000 Millions |
|
1 |
Preference Shares |
Rs.150000000/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.320.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9090148 |
Equity Shares |
Rs.10/- each |
Rs.90.901 Millions |
|
1 |
Preference Shares |
Rs.150000000/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.240.901
Millions |
As on 31.03.20101
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs.170.000 Millions |
|
1 |
Preference Shares |
Rs.150000000/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.320.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8090148 |
Equity Shares |
Rs.10/- each |
Rs.80.901 Millions |
|
1 |
Preference Shares |
Rs.150000000/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.230.901
Millions |
Out of the above
1.
4936808 Equity Shares
have been allotted as fully paid up for consideration other than for cash.
2.
319765 Equity Shares have
been issued to Convertible Debenture holder upon conversion.
3.
704573 Equity Shares have
been allotted as bonus shares in the ratio 8:1.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
230.901 |
80.901 |
68.401 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2708.248 |
1961.297 |
988.177 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2939.149 |
2042.198 |
1056.578 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2928.828 |
2441.605 |
1078.821 |
|
|
2] Unsecured Loans |
102.905 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
3031.733 |
2441.605 |
1078.821 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5970.882 |
4483.803 |
2135.399 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1290.170 |
1385.657 |
186.404 |
|
|
Capital work-in-progress |
217.499 |
3.324 |
42.153 |
|
|
|
|
|
|
|
|
INVESTMENT |
109.050 |
104.699 |
80.561 |
|
|
DEFERREX TAX ASSETS |
62.592 |
45.916 |
5.581 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1424.052
|
938.766
|
503.607 |
|
|
Sundry Debtors |
3629.327
|
2836.574
|
1515.357 |
|
|
Cash & Bank Balances |
279.032
|
181.130
|
219.111 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
1143.693
|
355.350
|
443.723 |
|
Total
Current Assets |
6476.104
|
4311.820
|
2681.798 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1896.126 |
973.993 |
600.848 |
|
|
Other Current Liabilities |
100.390
|
253.458
|
207.714 |
|
|
Provisions |
188.448
|
141.143
|
59.395 |
|
Total
Current Liabilities |
2184.964
|
1368.594
|
867.957 |
|
|
Net Current Assets |
4291.140
|
2943.226
|
1813.841 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.431 |
0.981 |
6.859 |
|
|
|
|
|
|
|
|
TOTAL |
5970.882 |
4483.803 |
2135.399 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
11385.345 |
7920.210 |
4533.230 |
|
|
|
Other Income |
6.964 |
6.261 |
5.393 |
|
|
|
TOTAL (A) |
11392.309 |
7926.471 |
4538.623 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
9485.961 |
6651.646 |
|
|
|
|
Employee Related Expenses |
63.783 |
38.792 |
|
|
|
|
Administrative Selling Other Expenses |
305.998 |
148.854 |
|
|
|
|
Exceptional (Income) / Expense, |
0.118 |
0.159 |
|
|
|
|
Extraordinary Items |
0.431 |
0.431 |
|
|
|
|
Prior Period Items |
0.000 |
0.134 |
|
|
|
|
TOTAL (B) |
9856.291 |
6840.016 |
3937.508 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1536.018 |
1086.455 |
601.115 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND OTHER
FINANCIAL COSTS (D) |
396.792 |
240.048 |
154.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1139.226 |
846.407 |
447.022 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
212.672 |
60.682 |
10.437 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
926.554 |
785.725 |
436.585 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
179.603 |
94.817 |
46.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
746.951 |
690.908 |
390.089 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.000 |
422.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
394.601 |
73.260 |
90.823 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
92.33 |
100.71 |
57.03 |
|
%20LIMITED%20-%20186189%2006-Jul-2012_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.56
|
8.72
|
8.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.14
|
9.92
|
9.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.93
|
13.79
|
15.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.38
|
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.77
|
1.87
|
1.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.96
|
3.15
|
3.09 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
NOTE
The Registered
Office of the company has been shifted from
OPERATIONS
Keeping ahead with changing times and trends in technology, the company has taken steps to enter in to area of convergence from System Integration and Telecom. SIS will now endeavor to become a multidimensional aggregator and will extend its reach to masses and will touch day to day lives of millions of global citizens. This is a conscious shift, which will strike the balance between the core competencies of the organization and the changing needs while maintaining the basic philosophy of offering total solution to customers. To achieve this, during the year under review, the Company expanded its scope to new geographical areas including UAE and Middle East Countries, Hong Kong, and USA along with addition of some business lines namely data center and cloud computing services.
INCREASE IN SALES
The Turnover of the Company has increased from Rs. 7920.200 Millions to Rs. 11385.300 Millions registering an extensive growth of 43.75%.
IN CREASE IN PROFIT
The profit before depreciation, tax and interest of the Company has also increased from Rs. 1087.000 Millions to Rs. 1536.400 Millions, while the net profit after tax has increased to Rs. 746.900 Millions as compared to previous year’s net profit of Rs. 690.900 Millions registering a growth of 8%.
PROJECTS AND AWARDS
In line of the
conscious efforts in transforming itself from a system integrator to a Telecom
Service Provider Company, the Company has ventured in to Telecom Sector by
entering in to an agreement with BSNL on 22nd January 2010, for launching Voice
and Video Over Broad Band (WOBB) services in northern and western regions of
During the year
the Company has received National Telecom Award 2010 for Innovation in Fixed
Line services given by INFOCOM Business world Initiative -CMAI. The Company has
won the first International Award for THE NEW ERA AWARD FOR TECHNOLOGY,
INNOVATION AND QUALITY given by Otherways Management and Consulting Association,
The company has
also received GESIA Awards for best Hardware and System Integrator Company
awarded by Gujarat Electronic and Software Industries Association (GESIA). The
Company judged the Best System Integrator being 1st in revenue generation for
the year 2007-2008 and 2008-2009 by D G Week, Mumbai.
CONTINGENT LIABILITIES NOT PROVIDED FOR
|
Particulars |
As on 31.03.2011 Rs. in millions |
As on 31.03.2010 Rs. in millions |
|
Claims not
acknowledged by the company – Income Tax |
172.660 |
14.993 |
|
Bank Guarantee
and Letter of Credit |
1021.386 |
534.841 |
|
Corporate
Guarantee |
480.000 |
336.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U30007GJ2003PLC041786 |
|
Name of the company |
SAI INFOSYSTEM ( |
|
Address of the registered office or of the principal place of business in |
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10090869 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others (Stock and all current assets and
equipments) |
|
Particular of charge holder |
State Bank of India, Industrial Finance Branch, Gujarat Bhavan, Opp. M
J Library, Ellisbridge, Ahmedabad – 380 006, E-mail Id : sbi.60327@sbi.co.in
|
|
Nature of instrument creating charge |
Supplemental joint deed of hypothecation dated 22nd May
2012 |
|
Date of instrument Creating the charge |
22.05.2012 |
|
Amount secured by the charge |
Rs.9195.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As Per The Terms and Conditions of The Loan Documents Executed on 22nd
May 2012 Terms of Repayment As per the terms and conditions of the loan documents executed on 22nd
May 2012 Margin As per the terms and conditions of the loan documents executed on 22nd
May 2012 Extent and Operation of the charge Loan facilities of Rs.9195.000 millions are secured by way of first
charge on hypothecation on the current assets, movable assets equipments and
stock joint deed of hypothecation as enclosed herewith. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
The Whole of the Current Assets of the Borrow Namely, Stock of Raw
materials, Stocks in process, Semi Finished and Finished Goods, Stores and
spares not relating to Plant and Machinery, Bills receivable and book debts
and all other movables, both present and future laying Borrower factories,
premises and godowns situated at different places in Gujarat or wherever else
in transit or on high sea. All the movable properties including movable plant and machinery, spares,
tools, accessories both present and future situated at of Borrower registered
office at Vastarpur, in the state of Gujarat Parwanoo (H.P.), Bangalore,
Ranchi, Hyderabad and Ernakulum in premises of BSNL and other premises of the
borrower. Supplement Deed of Hypothecation dated 22nd May 2012. |
|
|
22.05.2012 |
|
Particulars of the present modification |
First charge was created under
Charge ID 10090869 amounting to Rs.1700.000 Millions in favour of SBI
Consortium charge as per agreement of
loan dated 18/10/2008 between Company and SBI Consortium Banks, it modified
to Rs. 4150.000 Millions with Loan Agreement dated 16.10.2009. On 17.03.2011
same was further modified for the HSBC share taken over by BOB. On
18/06/2011, it is further modified to Rs. 6660.700 Millions. Lastly said
charge is modified to Rs. 9195.500 Millions with loan documentations dated
22.05.2012. |
FIXED ASSETS
·
Land
·
Office Buildings
·
·
Plant, Machinery and
Equipments
·
Computers
·
Furniture, Fixtures and Electric
Fittings
·
Vehicle
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.55.03 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.68.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.