|
Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
J K TECHNOSOFT LIMITED |
|
|
|
|
Registered
Office : |
A-2, Shopping Complex, Masjid Moth, G.K.-II, New Delhi-110048 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.03.1988 |
|
|
|
|
Com. Reg. No.: |
55-030870 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 55.949 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64202DL1988PLC030870 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ02113G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ0381L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is providing IT Services and Solutions. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 570000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears some dip in the turnover and major dip in the profitability of the company.
However, networth appears to be satisfactory. Trade relations are reported as
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 : |
A-2, Shopping Complex, Masjid Moth, G.K.-II, New Delhi-110048, India |
|
Tel. No.: |
91-11-29222804-65 |
|
Fax No.: |
91-11-29228648 |
|
E-Mail : |
|
|
Website : |
|
|
X |
|
|
Branch Office : |
F-2 and F-3, Sector-3, Noida-201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4606200 / 4606300 / 4084500 / 2539133 |
|
Fax No.: |
91-120-2539132 |
|
|
|
|
Branch Office : |
Located At ·
Bangalore ·
Mumbai ·
Gurgaon ·
Kolkata ·
Chennai |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Abhishek Singhania |
|
Designation : |
Managing Director |
|
Address : |
3, Barakhamba Road, Delhi-110001, India |
|
Date of Birth/Age : |
06.04.1973 |
|
Date of Appointment : |
12.05.1992 |
|
DIN No.: |
00087844 |
|
|
|
|
Name : |
Mr. Narayan Prasad Agarwal |
|
Designation : |
Director |
|
Address : |
604, Sunbreeze Apartments, Sector-V, Vaishali Ghaziabad-231205, Uttar
Pradesh, India |
|
Date of Birth/Age : |
26.01.1948 |
|
Date of Appointment : |
01.06.1998 |
|
DIN No.: |
00172930 |
|
|
|
|
Name : |
Mr. Yuvraj Bahadur |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
7-A,Mansarovar Apartment, Sector-61, Noida-201303, Uttar Pradesh,
India |
|
Date of Birth/Age : |
10.10.1946 |
|
Date of Appointment : |
17.01.2007 |
|
DIN No.: |
00532156 |
|
|
|
|
Name : |
Mr. Babu Abraham |
|
Designation : |
Whole Time Director |
|
Address : |
24, Rajpur Road, New Delhi-110054, India |
|
Date of Birth/Age : |
30.11.1946 |
|
Date of Appointment : |
01.05.2005 |
|
DIN No.: |
00532197 |
|
|
|
|
Name : |
Mr. Viney Kumar Singhal |
|
Designation : |
Director |
|
Address : |
c-5/10, Safdarganj Development Area, 2nd Floor, New
Delhi-110016, India |
|
Date of Birth/Age : |
11.05.1945 |
|
Date of Appointment : |
12.02.1997 |
|
DIN No.: |
01552603 |
|
|
|
|
Name : |
Mr. Satish Chandra Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
B-47, Sector-36, Gautam Budh Nagar, Noida-201301, Uttar Pradesh, India
|
|
Date of Birth/Age : |
15.11.1944 |
|
Date of Appointment : |
01.05.2005 |
|
DIN No.: |
01595040 |
KEY EXECUTIVES
|
Name : |
Mr. Vishwa Jyoti |
|
Designation : |
Secretary |
|
Address : |
24B, East Guu Angad Nagar, Gali No.2, Laxmi Nagar, Delhi-110092, India
|
|
Date of Birth/Age : |
01.01.1981 |
|
Date of Appointment : |
20.04.2007 |
|
Pan No.: |
AHFPJ6105M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Govind Singhania |
70004 |
|
Neelkhanth Mercantile Limited, India |
658500 |
|
Akshyapatra Finance and Investment Private Limited, India |
497500 |
|
Manphul Trading and Finance Company Limited, India |
1225950 |
|
Udhav Finance and Investment Private Limited, India |
5000 |
|
Satish Gupta |
10000 |
|
Babu Abhraham |
1000 |
|
Manoj Kumar |
12200 |
|
Gauri Shanker |
6400 |
|
JK Infrastructure and Developers Limited, India |
730000 |
|
Abhishek Singhanina |
72500 |
|
Manorama Singhania |
10000 |
|
Dwarikadhish Finance and Investment Company Private Limited, India |
1596000 |
|
JK Consultancy and Services Limited, India |
300000 |
|
Ramesh Sambamoorthy |
12000 |
|
Shyam Verma |
10000 |
|
Rajiv Mittal |
12000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
91.00 |
|
Directors or relatives of Directors |
3.00 |
|
Other top fifty shareholders |
6.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is providing IT Services and Solutions. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
ICICI Bank
Limited ·
Landmark Race Cource Circle, alkapuri,
Baroda-390015, Gujarat, India ·
B.C.C. Mumbai, Maharashtra, India ·
Axis Bank Limited, B-2 and B-3, Sector-16,
Noida-201301, Uttar Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mittal Gupta and
Company Chartered Accountant |
|
Address : |
14-Ratan Mahal,
15/197-Civil Lines, Kanpur, India |
|
Tel No.: |
91-512-2303234 |
|
Fax No.: |
91-512-2303235 |
|
Email: |
|
|
Pan No.: |
AAFFM0653E |
|
|
|
|
Subsidiaries : |
·
Proserve Consulting Inc., USA ·
JK Technosoft ( UK ) Limited, UK ·
JKT Consulting Limited, India CIN No.: - U74140DL2007PLC160160 |
|
|
|
|
Associates : |
·
Manphul Trading and Finance Company Limited ·
JK Infrastructure and Developers Limited ·
Neelkhanth Mercantile Limited ·
Dwarikadhish Finance and Investment Company
Private Limited ·
Akshyapatra Finance and Investment Private
Limited ·
JK Consultancy and Services Limited ·
PGA Securities Private Limited ·
Udbhav Finance and Investment Private Limited ·
JK Padampat (Partnership Firm) ·
Sir Padampat Singhania Education Centre (Trust) ·
JK Education Foundation (Trust) ·
JK Foundation for Human Development (Trust) ·
Sir Padampat Singhania Memorial Education
Foundation (Trust) ·
Until ROI Consulting Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5594878 |
Equity Shares |
Rs.10/- each |
Rs. 55.949
Millions |
|
|
|
|
|
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 |
55.949 |
55.949 |
55.144 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
87.079 |
81.314 |
29.298 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
143.028 |
137.263 |
84.442 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
64.496 |
86.685 |
96.236 |
|
|
2] Unsecured Loans |
28.831 |
29.755 |
30.977 |
|
|
TOTAL BORROWING |
93.327 |
116.440 |
127.213 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
236.355 |
253.703 |
211.655 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
70.203 |
65.789 |
74.992 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.065 |
12.065 |
11.248 |
|
|
DEFERREX TAX ASSETS |
30.458 |
10.773 |
9.434 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
1.182 |
|
|
Sundry Debtors |
79.374
|
88.713 |
97.602 |
|
|
Cash & Bank Balances |
25.454
|
34.854 |
11.161 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
105.742
|
106.941 |
89.701 |
|
Total
Current Assets |
210.570
|
230.508 |
199.646 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
86.941
|
63.494 |
76.981 |
|
|
Provisions |
0.000
|
1.938 |
6.684 |
|
Total
Current Liabilities |
86.941
|
65.432 |
83.665 |
|
|
Net Current Assets |
123.629
|
165.076 |
115.981 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
236.355 |
253.703 |
211.655 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
404.661 |
429.384 |
460.986 |
|
|
|
Other Income |
38.172 |
34.578 |
27.278 |
|
|
|
TOTAL (A) |
442.833 |
463.962 |
488.264 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
0.000 |
1.182 |
0.983 |
|
|
|
Employee related expenses |
309.857 |
259.351 |
288.836 |
|
|
|
Administrative, selling other expenses |
113.630 |
101.916 |
0.778 |
|
|
|
Other operating expenses |
-- |
-- |
92.537 |
|
|
|
Expenses amortized during the year |
-- |
-- |
0.032 |
|
|
|
Difference in foreign exchange |
-- |
-- |
5.563 |
|
|
|
Forward premium account |
-- |
-- |
1.845 |
|
|
|
Profit / loss on forward contracts |
-- |
-- |
41.823 |
|
|
|
Income tax adjustment for earlier years |
-- |
-- |
2.761 |
|
|
|
Prior period expenses |
0.110 |
2.197 |
1.139 |
|
|
|
TOTAL (B) |
423.597 |
364.646 |
436.297 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.236 |
99.316 |
51.967 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.198 |
17.768 |
18.345 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.038 |
81.548 |
33.622 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.957 |
17.657 |
17.306 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(13.919) |
63.891 |
16.316 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(19.685) |
9.939 |
(1.312) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.766 |
53.952 |
17.628 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
1.935 |
1.935 |
|
|
BALANCE CARRIED
TO THE B/S |
5.766 |
52.017 |
15.693 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Technical Consultancy Fee |
254.722 |
303.545 |
257.223 |
|
|
TOTAL EARNINGS |
254.722 |
303.545 |
257.223 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Fixed Assets (License for Software) |
0.144 |
0.000 |
0.226 |
|
|
TOTAL IMPORTS |
0.144 |
0.000 |
0.226 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.04 |
9.78 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.30
|
11.63 |
3.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.44)
|
14.88 |
3.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.47)
|
20.81 |
5.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10)
|
0.47 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
1.32 |
2.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.42
|
3.52 |
2.39 |
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. Constructions 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 |
No |
|
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 |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
TRANSFER TO
RESERVES
During the current
year an amount of Rs. 5.765 Millions is left as Profit After Tax, which forms
part of Reserve and Surplus. The total Reserve and Surplus including
undistributed profit of current year is Rs. 87.100 Millions.
BUSINESS
ACTIVITIES
The current year
was very challenging for the company. The company struggled both at maintaining
the top and bottom level. On one side, due to change in Onsite/ Offshore mix,
the export revenue has come down drastically by 16%. The company continued to
grow its domestic business at a decent growth rate of 19%, but due to lesser
margin and high overhead cost, this adversely affected our margins. Further,
the company has expanded its team for an overseas assignment in Japan, which
couldn’t materialize so well. Because of all this, the company was unable to
maintain the PBT% as of last year. The PBT of the company came down to - Rs.
0.139 Million. However, with the steady increase in offshore export business,
the company all set to maintain and grow the bottom margin in the coming year.
SUBSIDIARIES
PROSERVE
CONSULTING INC., US
Proserve
Consulting Inc., USA, a 100 % subsidiary of the company has made a Net income of
USD 21,240 (Rs. 0.968 Million) in FY 2010-11 after making provision for Tax of
USD 13,456 (Rs. 0.613 Million). The Net income of company in last financial
year (2009-10) was USD 39,113 (Rs. 1.855 Millions). The Revenue for the year
was USD 2,350,614 (Rs. 107.141 Millions) as compared to the revenue of USD
2,114,717 (Rs. 100.280 Millions) in last year. The company achieved the
moderate growth rate of 11%. There is marginal decline in the PAT.
JK TECHNOSOFT UK
LIMITED, UK
JK Technosoft UK
Limited, UK, a 100 % subsidiary of the company has incurred loss of GBP 184,153
(Rs. 13.053 Millions) in FY 2010-11 as compared to Net Profit of GBP 10,131
(Rs. 0.775 Million) in FY 2009-10. The Net Profit has come down by
significantly due to sharp decline in Revenue. The Revenue for the year was GBP
5,305,575 (Rs. 376.059 Millions) as compared to the revenue of GBP 6,762,789
(Rs. 513.184 Millions) in last year.
JKT CONSULTING
LIMITED, DELHI
JKT Consulting
Limited, the wholly owned subsidiary has suffered dip in revenue and profit.
The decrease in sale is only on account of few One Time Licence Sale which was
affected last year but not made this year. On a whole the existing client list
remain the same. The SAP education services of the company through its SAP
Academy in Gurgaon and Kolkata has achieve moderate growth of 11%.
FORM 8
|
Corporate
identity number of the company |
U64202DL1988PLC030870 |
|
Name of the
company |
J K TECHNOSOFT
LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-2, Shopping Complex, Masjid Moth, G.K.-II, New Delhi-110048, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10212105 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others |
|
Particular of
charge holder |
Axis Bank Limited, B-2 and B-3, Sector-16, Noida-201301, Uttar
Pradesh, India |
|
Nature of
instrument creating charge |
Declaration cum confirmation
Deed and Record of Mortgage dated 29.05.2010 |
|
Date of
instrument Creating the charge |
29.05.2010 |
|
Amount secured by
the charge |
Rs. 85.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC, TL-1 and
TL-II - BPLR-2.75% i.e. 12 % presently LER - Bank's
Standard charges Terms of repayment CC - On demand TL-I - 32 monthly
installments of Rs. 0.833 Million and last installment of Rs. 0.844 Million TL-II - 47
monthly installments of Rs. 0.208 Million and last installment of Rs. 0.224
Million LER - 90 days Margin CC- Inventory -
25%, Book Debt - 25% (<90days) TL-I- Nil TL-II - 32.03% LER - Nil Extent and operation of the charge Charge on all the
present and future current assets and moveable fixed assets of the company,
wherever situated to the extent of the limit sanctioned Charge on
Immovable Property of the company at F-3, Sector 3, Noida |
|
Short particulars
of the property charged (Including location of the property) |
Present and
future current assets and moveable fixed assets of the company, wherever
situated Immovable Property of the company at F-3, Sector 3, Noida |
|
Particulars of
the present modification |
Charge created on
Immovable property admeasuring 780.00 sq. mtr. located at Plot no. 3, Block
F, Sector 3, Noida 201301 |
FIXED ASSETS
·
Air Conditioners
·
Batteries
·
Building
·
Car
·
Car on Lease
·
Computer Software
·
DG Set
·
Furniture and Fixtures
·
Electric Fittings
·
Fire Fighting
·
Land
·
Office Equipments
·
Telephone Systems
·
UPS
WEBSITE DETAILS
PROFILE
Subject
is a global software and solutions company that is driven by the simple yet
powerful tenet of providing 'total
customer satisfaction'.
A valuable asset of the JK Organization, one of India's largest industrial
groups with an annual turnover exceeding US$ 4 billion, Subject is at the
leading edge of comprehensive IT services and solutions.
Subject
offers a wide breadth of services across the entire Information Technology
spectrum including Enterprise Solutions, Progress Consulting, Application
Management, Product Management, Independent Testing and Professional Services.
Its exceptional and exhaustive domain expertise in verticals such as
automotive, healthcare, consumer goods and cement has nurtured an exclusive
client roster spread across Europe, US, Australia and Asia-Pacific.
Since
its inception in 1994, Subject has achieved exceptional growth. Over 650
top rung professionals, ISO 9001 and ISO 27001 certifications, development centers
in Noida (Delhi/NCR) and Bangalore, a sales office in Mumbai, and 100%
subsidiary companies based in UK and US – are testimony to this.
Subject
has established a separate subsidiary, JKT Consulting (JKTC) to provide consulting
and implementation services to selected industry verticals. JKTC provides
end-to-end business solutions to both Indian as well as global clients,
bringing in high value consulting, technology implementation and education
solutions. The focused industry verticals are Retail, Consumer Goods,
Healthcare and Cement. Subject is SAP Service, Channel
and Education partner.
MANAGEMENT
Managing Director
The
co-founder and Managing Director of the company belongs to the younger generation
of one of the most renowned business families in India - 'Singhanias'. The
family owns 'JK
Organization', which is
one of the largest organizations of the country.
He
took over as the Managing Director in 1994 and continues to lead the team. As the
MD, he is responsible for the overall operations of the company.
Having
industry experience in top companies like American Express, he rotated
himself into various JK Group companies. Engaging himself in virtually
every function of the company; Marketing, Finance, Projects, Production etc.,
he accrued rich experience in managing the business units as profit
centres before moving on to the IT industry.
He is an alumni of Modern School, Delhi and is a Commerce Graduate from Kanpur
University.
Executive Director
Mr. Satish Gupta has been associated with JK Technosoft, almost since the inception. He joined JKT in 1990 and is entrenched till date.
Being
the Executive Director (Operations), he is responsible for overall business activities
of the organization. He administers all the business units of the company; UK,
USA, Delhi, Bangalore including the HR department.
Satish
has been associated with the IT industry for over 39 years now. He began his
career with IBM World Trade Corporation in India just after his graduation in
1966 as a Management Trainee, where he fruitfully completed 12 years. His next
destination was CMC Limited, where he completed another 12 years and then
joined JKT, wherein he has already completed more than 15 years. During this
long span, Mr. Gupta has been holding various positions and has the experience
of being associated with almost all functions/activities of an IT organization.
These functions include Administration, Liaison, HR, Marketing, Sales, Systems,
Software, Training, etc.
His educational background is complemented with professional degrees combined
with different long-term as well as short-term programs. He has also attended
various seminars conducted by most prestigious institutes/organizations of the
country. He is a Science graduate and also holds Post Graduate Diplomas in
"Personnel Management and Industrial Relations" and "Marketing
Management".
Director
As a member of the Board of Directors with JK Technosoft, his role is primarily
to advise the Management Council of JK Technosoft, develop Key Strategies to
meet agreed goals and objectives and monitor the performance in the areas of
Sales and Delivery of Software Services globally.
He
has over 35 years of experience in the IT Industry. His last stint was with HCL
Infosystems Limited, where he had a long innings of 27 years.
In
his last assignment with HCL, he was the Executive Vice President -
Professional Services responsible for managing four Software factories, in Noida
(Delhi), Kolkata and Chennai and a robust SAP Consulting and Implementation
Practice, providing Software Solutions to Customers in the U.S., U.K.,
Singapore, Malaysia, Australia and India.
He
started his career in the IT Industry in 1970 with IBM India, where he worked
for 8 years. Yuvraj is B. Tech from IIT Kanpur.
Director
Mr.
Abraham is with JK Technosoft since 1993 and has completed over 12 years.
As
Director of JK Technosoft, his work area includes Quality Processes, IT
Services and other Technical Activities of the organization. He has been a
leading consultant in providing IT and Management Solutions in Government
Systems, Healthcare Management, ERP, Utilities, Steel industry etc.
He has
been in the field of IT industry for about 36 years. He started his career with
Steel Authority of India (SAIL) where he worked consistently for 9 years. After
SAIL his next destination was Tata Consultancy Services (TCS) with a
significant experience of 15 years. He was equipped with 24 years of experience
already when he joined JK Technosoft.
He
is a Metallurgical Engineer from REC, Warangal.
Mr.
N.P. Agarwal is associated with JK Technosoft as a Director since June
1998.
He
is armed with over 30 years of experience in a variety of positions. His
invigorating work experience began WITH JK Electronics (Unit of JK Cotton
Spinning and Weaving Mills Company Limited) at Kanpur in 1969. In 1977 he took
over as Factory Manager and persistently worked till 1985. In 1985, he moved to
JK Synthetics and has been there with JK Synthetics since then.
He holds
a Post Graduate degree in the stream of Commerce.
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. 55.36 |
|
|
1 |
Rs. 85.63 |
|
Euro |
1 |
Rs. 69.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.