|
Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
CMS COMPUTERS LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.02.1980 |
|
|
|
|
Com. Reg. No.: |
11-022235 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.82.096
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH1980PLC022235 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMC01573F/ MUMC05245C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC1758L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing IT Enabled
Services and also engaged in trading of desktop, Biometric Attendance System,
Broadcasting and Media Equipments, Security Surveillance System. |
|
|
|
|
No. of Employees
: |
3500 (Approximately) |
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 8381000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track. In the year 2010-2011
there were slight dip in the turnover. However, the profit of the company
increases, trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company can
be considered 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB (Fund Based) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
March, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. C.P. Jain |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9323833043 |
|
Date : |
08.10.2012 |
LOCATIONS
|
Registered/ Corporate/ Administration Office : |
|
|
Tel. No.: |
91-22-67489000/ 28216511/ 67489071 |
|
Mobile No.: |
91-9323833043 (Mr. C.P. Jain) |
|
Fax No.: |
91-22-67489001/ 22042734/ 67489000 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: v
Mumbai v
Navi Mumbai v
Ahmedabad v
v
v
Chennai v
v
Secunderabad v
Jaipur v
v
v
Pune v
v
Kolkata v
v
Thiruvananthapuram v
|
DIRECTORS
As on 30.12.2011
|
Name : |
Mr. Raju Rameshdutt Grover |
|
Designation : |
Director |
|
Address : |
1, Revills, 45 Cuffe Parade, Mumbai – 400 005, |
|
Date of Birth/Age : |
08.09.1951 |
|
Qualification : |
BA |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
01584366 |
|
|
|
|
Name : |
Ms. Aarti Rameshdutt Grover |
|
Designation : |
Director |
|
Address : |
1, Revills, 45 Cuffe Parade, Mumbai – 400 005, |
|
Date of Birth/Age : |
06.08.1977 |
|
Qualification : |
MBA |
|
Date of Appointment : |
30.08.2010 |
|
DIN No.: |
02625342 |
|
PAN No.: |
AEPPG9690B |
|
|
|
|
Name : |
Mr. Maurice Alexander D'souza |
|
Designation : |
Director |
|
Address : |
A-102, Mukti Co-Operative Housing Society, Vakola Pipeline, Santacruz
(East), Mumbai – 400 055, |
|
Date of Birth/Age : |
11.11.1965 |
|
Date of Appointment : |
15.09.2011 |
|
DIN No.: |
03621700 |
KEY EXECUTIVES
|
Name : |
Mr. C.P. Jain |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
K.V. Jagannatha Rao |
|
Designation : |
National Business Manager |
|
|
|
|
Name : |
Mr. Gurpreet Singh Ahluwalia |
|
Designation : |
Manager-Operations |
|
|
|
|
Name : |
Mr. Ramesh K. Iyer |
|
Designation : |
National Business Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.12.2011
|
Names of Shareholders (Equity Shares with Voting Right) |
|
No. of Shares |
|
Rameshdutt Grover |
|
57263517 |
|
Rameshdutt Gover (HUF) |
|
4000000 |
|
Raju Rameshdutt Gover |
|
105240 |
|
Aarti Rameshdutt Grover |
|
4733530 |
|
CMS Traffic Systems Limited, |
|
10 |
|
CMS – IDent Private Limited, |
|
10 |
|
CMS Engineering Services Private Limited, |
|
10 |
|
Total |
|
66102317 |
|
Names of Shareholders (Equity Shares with Non-Voting Right) |
|
No. of Shares |
|
Rameshdutt Gover |
|
15993663 |
|
Total |
|
15993663 |
As on 30.12.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.000037 |
|
Directors
or relatives of directors |
|
95.127617 |
|
Other
top fifty shareholders |
|
4.872383 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing IT Enabled
Services and also engaged in trading of desktop, Biometric Attendance System,
Broadcasting and Media Equipments, Security Surveillance System. |
||||
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|
||||
|
Products : |
|
||||
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|
||||
|
Brand Names : |
“CMS”. |
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||||
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Exports : |
|
||||
|
Products : |
v
Traffic Signaling System |
||||
|
Countries : |
v
v
v
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
v
CV Channel |
||||
|
Countries : |
v
v
|
||||
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|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cash and Credit (30/ 45 days) |
||||
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|
|
||||
|
Purchasing : |
L/C, Cash and Credit (30/ 60 days)
|
GENERAL INFORMATION
|
Suppliers : |
v
Sony v
Apple |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Wholesalers, End Users and OEM’s AIRLINES:
· Lufthansa · Emirates · · Air
OIL: · Oil and Natural Gas Corporation Limited · · British
Petroleum
AUTO: · Ashok
· Bajaj Tempo Limited
FINANCE: · Stock
Holding Corporation of · Credit Rating Information Services of India Limited · Industrial
Development Bank of · National Stock Exchange · National Security Depository Limited
BANKING: · Bank
of · State
Bank of · CITIBANK · SBI Commercial and International Bank · ABN Amro Bank N.V. · Standard Chartered Grindlays Bank Limited
CONSULTANCY: · Larsen and Toubro Limited · ECC Construction Group · Davy
Powergas · Birla Consultancy and Software Services
SERVICES: · BSES · TATA Share Registry Limited
PHARMACEUTICALS: · Bayer · GlaxoSmithKline
MANUFACTURING: · The Mukund Group · Philips
EDUCATION: · NIIT ·
Center for Development of Advanced Computing |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
3500 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
v IDBI Bank
Limited, Marigold House; Plot No.A-34, Andheri (West), Mumbai – 400 093, v IDBI Bank Limited, 47, Opus Centre,
Central Road, MIDC, Marol, Andheri
(East), Mumbai – 400 093, Maharashtra, India v State Bank of v State Bank of v Syndicate
Bank, Nariman Bhavan, Nariman Point, Mumbai – 400 021, v Citibank
N.A., Sakhar Bhavan, Nariman Point, Mumbai – 400 021, v State
Bank of v ICICI
Bank Limited, Nariman Point, v Axis
Bank Limited, Royal Accord IV,
Lokhadwala Complex, Andheri (West), Mumbai – 400 053, v ICICI
v The
Dhanalakmi Bank Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Notes: (A) Term loan
has been secured by hypothecation of the respective fixed assets funded by
the Company from the loans and personal guarantee of shareholders and
Directors. (B) Out of US$
Nil (March 31, 2010 - US$ 2.20 million) ECB from ICICI of US$ Nil (March
31,2010 - US$ 2.20 million) , is secured by mortgage of office premises at
CMS House, at Andheri, certain specified land, buildings and godowns and
fixed assets acquired out of the said ECB and balance amount of US$ Nil
(March 31,2010 - US$ Nil) is secured by mortgage of Vision House, Ahmedabad,
Lonawala Property and other movable properties of the company acquired out of
the proceeds from ECB. (C) [Amount
payable within one year Rs. Nil (March 31, 2010 - Rs.107.149 millions)] (D) Note a: Cash
credit facilities are secured by hypothecation of inventories and book debts.
The Company has also given collateral security by mortgage of office
premises. (E) Vehicle
loans are secured by hypothecation of respective vehicles. (F) Obligation under finance lease is secured by hypothecation of
respective assets. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Basant Jain and Associates Chartered Accountants |
|
Address : |
601, Dalamal Chambers, New Marine Lines, Mumbai – 400 020, |
|
Income-tax
PAN of auditor or auditor's firm : |
ADOPJ8787C |
|
|
|
|
Subsidiary Companies
: |
v Dominant
Developers Private Limited, v SYSTIME
Computers Limited v CMS – DITL
Limited, v Netprint
Solution India Private Limited v Mailtek Services
( v New Video
Private Limited, v
Suburbia Realtors Private Limited, |
|
|
|
|
Subsidiary of
Subsidiary Companies : |
CMS Netprint (Private) Limited, |
|
|
|
|
Joint Ventures : |
CMS |
|
|
|
|
|
v CMS Traffic
Systems Limited, v Jess Prasad Engineering
and Metallurgical Services Private Limited v
CMS Energy Systems Private Limited v CMS Engineering
Services Private Limited, v G.G.
Constructions Private Limited, v Datacom Computer
Services Private Limited v Computer
Products and Services Private Limited v Computer
Maintenance Services v Dynamic Hydro
Machines Private Limited, v Money Ease
Capital Private Limited v RDJ Constructions
Private Limited v R.D. Grover
(Hindu Undivided Family) v Acusoft
Technologies Private Limited v Cable Network
Systems Private Limited v CMS IDent
Private Limited, v CMS Info Systems
Private Limited, v Resergent
Infotech Private Limited, v CMS Marshal
Limited v CMS Securities
Limited, v Dominant
Security Systems Private Limited v Leadline
Security Systems Private Limited v Radiant Security
Systems Private Limited v Unmatched
Security Systems Private Limited v Kaycee
Industries Limited, v SYSTIME Global
Solutions Private Limited (erstwhile SYSTIME Computer Systems Limited), v SYSTIME Computer
Corporation, v SYSTIME Global
Solutions Pte Limited, v SYSTIME Global
Solutions Pty Limited, v SYSTIME Global
Solutions Japan Limited, v SYSTIME ME FZCO,
UAE v SYSTIME Global
Solutions Limited, v SYSTIME Global
Solutions Limited, v
SYSTIME Global Solutions Inc., |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
184006337 |
Equity Shares with Voting Right |
Re.1/- each |
Rs.184.006 millions |
|
15993663 |
Equity Shares with Non-Voting Right |
Re.1/- each |
Rs.15.994 millions |
|
|
Total |
|
Rs.200.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
66102317 |
Equity Shares with Voting Right |
Re.1/- each |
Rs.66.102
millions |
|
15993663 |
Equity Shares with Non-Voting Right |
Re.1/- each |
Rs.15.994
millions |
|
|
Total |
|
Rs.82.096 millions |
Notes:
a) Out of the
above 62151610 equity shares of Re.1/- each has been allotted as fully paid up
bonus shares by way of capitalisation of General Reserve Rs.57.610 millions
(1996-97 Rs.12.965 millions; 1998-99 Rs.32.827 millions; 1999-00 Rs.11.818
millions), and Investment Allowance Utilisation Reserve Rs.4.542 millions
(1996-97 Rs.4.542 millions).
b) During the year
under buy-back scheme, Company has bought back 7180990 shares from Shareholder,
accordingly Share Capital has been reduced to that extent
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 |
82.096 |
89.277 |
181.784 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2013.271 |
2070.632 |
2523.861 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2095.367 |
2159.909 |
2705.645 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.414 |
125.951 |
1497.729 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
44.414 |
125.951 |
1497.729 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2139.781 |
2285.860 |
4203.374 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
586.189 |
588.730 |
1012.351 |
|
|
Capital work-in-progress |
126.980 |
188.761 |
277.946 |
|
|
|
|
|
|
|
|
INVESTMENT |
467.617 |
291.319 |
1375.763 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
29.976
|
20.299 |
163.427 |
|
|
Sundry Debtors |
643.507
|
548.121 |
1611.912 |
|
|
Cash & Bank Balances |
47.311
|
164.980 |
482.573 |
|
|
Other Current Assets |
1.940
|
7.461 |
43.708 |
|
|
Loans & Advances |
773.335
|
914.553 |
676.279 |
|
Total
Current Assets |
1496.069
|
1655.414 |
2977.899 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
177.385 |
195.714 |
710.824 |
|
|
Other Current Liabilities |
341.587
|
220.596 |
655.747 |
|
|
Provisions |
18.102
|
22.676 |
85.482 |
|
Total
Current Liabilities |
537.074
|
438.986 |
1452.053 |
|
|
Net Current Assets |
958.995
|
1216.428 |
1525.846 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.622 |
11.468 |
|
|
|
|
|
|
|
|
TOTAL |
2139.781 |
2285.860 |
4203.374 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
741.753 |
832.864 |
4940.350 |
|
|
|
Other Income |
138.583 |
182.216 |
(110.880) |
|
|
|
TOTAL (A) |
880.336 |
1015.080 |
4829.470 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
229.405 |
256.154 |
1444.549 |
|
|
|
Employee related expenses |
254.221 |
260.608 |
1598.708 |
|
|
|
Administrative selling other expenses |
258.943 |
348.891 |
1755.426 |
|
|
|
Exceptional income/ expense, net |
(1.394) |
0.000 |
0.000 |
|
|
|
Extraordinary items |
0.000 |
147.297 |
0.000 |
|
|
|
TOTAL (B) |
741.175 |
1012.950 |
4798.683 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
139.161 |
2.130 |
30.787 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL EXPENSES (D) |
18.109 |
25.750 |
169.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
121.052 |
(23.620) |
(138.908) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
77.866 |
83.910 |
218.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
43.186 |
(107.530) |
(357.663) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.013 |
0.005 |
(44.158) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
43.173 |
(107.536) |
(317.943) |
|
|
|
|
|
|
|
|
|
|
Adjustments related merger acquisitions |
0.000 |
158.965 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
291.244 |
239.815 |
557.614 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
0.000 |
4.292 |
|
|
|
Corporate Dividend Tax |
0.000 |
0.000 |
0.003 |
|
|
BALANCE CARRIED
TO THE B/S |
334.417 |
291.244 |
239.815 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at F.O.B. value |
0.000 |
0.065 |
0.000 |
|
|
|
Service charges/ ORC Commission |
3.960 |
12.406 |
11.358 |
|
|
|
Interest |
0.000 |
0.000 |
0.496 |
|
|
|
Others |
11.141 |
5.932 |
1.036 |
|
|
TOTAL EARNINGS |
15.101 |
18.403 |
12.890 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
3.755 |
|
|
|
Traded Goods |
1.053 |
67.879 |
112.851 |
|
|
|
Components and spare parts |
0.000 |
0.102 |
120.551 |
|
|
|
Capital Goods |
15.999 |
6.170 |
47.949 |
|
|
TOTAL IMPORTS |
17.052 |
74.151 |
285.106 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.64 |
(1.26) |
(3.65) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
840.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.1000.000 millions
The above information has been parted by Mr. C.P. Jain (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.90
|
(10.59) |
(6.58) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.82
|
(12.91) |
(7.24) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.07
|
(4.79) |
(8.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
(0.05) |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28
|
0.26 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79
|
3.77 |
2.05 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
- Creditors due others |
177.385 |
195.714 |
710.824 |
|
Total |
177.385 |
195.714 |
710.824 |
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved
in |
-- |
|
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 |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
BACKGROUND:
The Company is a company
registered under the Indian Companies Act, 1956 (“the Act”) in the year 1980
having its registered office at 203,
The Company is
engaged in the business of providing IT support for government utility services,
maintenance and facility management services for biometric attendance systems,
manufacturing of Traffic Controllers,
REVIEW OF
OPERATIONS:
The Sales for the
year 2010-11 has decreased to Rs.741.750 millions from Rs.832.860 millions as
of last year. The surplus carried to Balance Sheet has increased from
Rs.291.240 millions to Rs.334.410 millions.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Nature of
Liability |
31.03.2011 (Rs. in
millions) |
31.03.2010 (Rs. in
millions) |
|
(a) Claims against the Company not acknowledged as debts: |
|
|
|
Disputed sales tax matters (Note) |
393.631 |
321.745 |
|
Disputed compensation under suit filed against the Company |
0.900 |
0.900 |
|
Claim from party for refund of deposit |
0.176 |
0.176 |
|
Claim for incomplete course material provided |
0.000 |
0.000 |
|
Disputed penalty under Factories Act, 1948 |
0.100 |
0.100 |
|
Claims for non completion of course |
0.000 |
0.000 |
|
Claim for full and final settlement of employee |
0.000 |
0.000 |
|
(b) Guarantees given by the Company |
353.572 |
492.842 |
|
(c) Capital commitments |
50.125 |
50.125 |
|
(d) Show cause notices received in respect of service tax matters |
302.154 |
104.357 |
Note:
The Company has
received an Ex-parte order amounting to Rs.240.096 millions from the Sales Tax authority.
The Company has already made an application for cancellation of ex-parte order
before the assessing officer. Based on opinion received from experts, Company
is confident of getting a favorable decision.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U30007MH1980PLC022235 |
|
Name of the
company |
CMS COMPUTERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
201, E-Mail: cs_legal@cms.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
CIN No.:
L65190MH2004GOI148838 IDBI Bank
Limited, 47, Opus Centre, Central Road, MIDC, Marol, Andheri (East), Mumbai – 400 093, Maharashtra, India E-Mail: rakesh.ranjan@idbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation dated 1st June, 2010 |
|
Date of
instrument Creating the charge |
01.06.2010 |
|
Amount secured by
the charge |
Rs.17.700
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: BPLR - 0.25%
(Present Effective rate is 12.50%) Payable on first
day of each month falling after the date of first disbursement of the
financial assistance. Terms of
Repayment: 59 equal monthly
installments of Rs.0.300 million each commencing after one month from the
date of disbursement. Margin: Not applicable Extent and
Operation of the charge: Exclusive charge on
the Equipment purchased out of the loan, both present and future. Others: Guarantee: An
irrevocable and unconditional Personal guarantee from Mr. R. D. Grover in
favour of the bank. |
|
Short particulars
of the property charged |
Exclusive charge
on the Equipment purchased out of the loan, both present and future. |
FIXED ASSETS:
Tangible Assets:
v Land – Leasehold
v Land – Freehold
v Buildings – Leasehold
v Buildings – Freehold
v Plant and Machinery
v Electrical Installation
v Furniture, Fixtures and Fittings
v Vehicles
v Office Equipments
v Computer Systems and Peripherals
Intangible Assets:
v Computer Software
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 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.52.70 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLP |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.