MIRA
INFORM REPORT
|
Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TRIMAX IT INFRASTRUCTURE AND SERVICES LIMITED (w.e.f. 21.04.2008) |
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Formerly Known
As : |
TRIMAX COMPUTERS LIMITED (w.e.f. 30.03.2005) TRIMAX COMPUTERS PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, Universal Mill Building, Asha Usha Compound,
Mehra Estate, L.B.S. Road, Vikhroli (West), Mumbai - 400079, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.08.1995 |
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Com. Reg. No.: |
11-091944 |
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Capital
Investment / Paid-up Capital : |
Rs.173.917
Millions |
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CIN No.: [Company Identification
No.] |
U30000MH1995PLC091944 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10155F |
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PAN No.: [Permanent Account No.] |
AAACT3858L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Provider Service to IT Sector. |
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No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 7400000 |
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Status : |
Satisfactory |
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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 a satisfactory track
record. The latest financials are not made available. Mr. Sanjay Jain, Finance
Head has denied to disclose any details as per previous record, sales and
profit of the company has recorded a better growth. Trade relations are fair. Business is active. Payment terms are
reported to be regular. 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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another megatrend
happening. The World order is changing as economic power shifts from West to
East. According to McKinsey study, it took Britain more than 100 years to
double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: A |
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Rating Explanation |
Adequate degree of safety and low credit
risk. |
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Date |
20.02.2013 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities: A2 |
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Rating Explanation |
Strong degree of safety and low credit risk.
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Date |
20.02.2013 |
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 DECLINED BY
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Finance Head |
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Contact No.: |
91-22-40681000 |
|
Date : |
08.08.2013 |
LOCATIONS
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Registered/
Corporate Office 1 : |
2nd Floor, Universal Mill Building, Asha Usha Compound,
Mehra Estate, L.B.S. Road, Vikhroli (West), Mumbai - 400079, Maharashtra,
India |
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Tel. No.: |
91-22-40681000 |
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Mobile No.: |
91-9987085520 (Mr. Giridhari Mangal – Sr. VP, Accounts and Finance) |
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Fax No.: |
91-22-40681001/ 40681008 |
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E-Mail : |
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Website : |
http://www.trimax.in |
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Location : |
Leased |
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Corporate Office 2 : |
16, |
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Tel. No.: |
91-22-23820248 |
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Fax No.: |
91-22-23823348 |
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Corporate Office 3 : |
Film Center Building,
1st Floor, 68 Tardeo Road, Mumbai – 400 034, Maharashtra, India |
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Tel. No.: |
91-22-23526464,
23526151, 23526151, 23526152 |
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Branch Offices : |
Located at: v Ahmedabad v Bangalore v Chandigarh v Coimbatore v Dehradun v Delhi v Gurgaon v Jaipur v Jammu v Kolkata v Ludhiana v Lucknow v Patna |
DIRECTORS
AS ON 14.08.2012
|
Name : |
Mr. Suryaprakash Sohanlal Madrecha |
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Designation : |
Managing Director |
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Address : |
22, Maniyar Building, B Wing, 3rd Floor, Tardeo, Mumbai – 400034,
Maharashtra, India |
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Date of Birth/Age : |
26.02.1972 |
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Qualification : |
Bachelor of Science |
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Experience : |
15 Years |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
00232283 |
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Name : |
Mr. Chandra Prakash Sohanlal Madrecha |
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Designation : |
Managing Director |
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Address : |
22, Maniyar Building, B Wing, 3rd Floor, Tardeo, Mumbai –
400034, Maharashtra, India |
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Date of Birth/Age : |
20.06.1974 |
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Qualification : |
Bachelor of Commerce |
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Experience : |
15 Years |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
00233232 |
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Name : |
Mr. Sanjiv Singhal |
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Designation : |
Nominee Director |
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Address : |
51, Seagull, 13 Carmichael Road, Next to Japanese Consulate, Mumbai –
400026, Maharashtra, India |
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Date of Birth/Age : |
23.03.1967 |
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Qualification : |
M.A., MBA , BA |
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Experience : |
13 Years |
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Date of Appointment : |
04.04.2009 |
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DIN No.: |
02408616 |
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Name : |
Mr. Mukul Gulati |
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Designation : |
Nominee Director |
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Address : |
Villa 290, Phase 2 Adarsh Palm Meadows, Airport Whitefield Road, Near
Ramagundanahalli, Bangalore – 560066, Karnataka, India |
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Date of Birth/Age : |
06.07.1973 |
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Qualification : |
BA, MBA |
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Experience : |
15 Years |
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Date of Appointment : |
01.10.2010 |
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DIN No.: |
00746183 |
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Name : |
Mr. Om Parkash Kewal Krishan Gahrotra |
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Designation : |
Director |
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Address : |
12, |
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Date of Birth/Age : |
21.09.1946 |
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Qualification : |
Bachelor of Science, Master in Financial Management |
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Experience : |
30 Years |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
00936696 |
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Name : |
Mr. Surinder Singh Kohli |
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Designation : |
Director |
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Address : |
J-170, Rajouri Garden, New Delhi – 110027, India |
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Date of Birth/Age : |
10.04.1945 |
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Qualification : |
bachelor degree of science in mechanical engineering from
Banaras Hindu University and Diploma in Industrial finance from Indian
Institute of Bankers. |
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Experience : |
40 Years |
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Date of Appointment : |
14.06.2011 |
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DIN No.: |
00169907 |
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Name : |
Mr. Charanpreet Singh |
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Designation : |
Director |
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Address : |
# 310 Binayak Residency, 6/5 D Anil Maitra Road, Kolkata – 700019, West
Bengal, India |
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Date of Birth/Age : |
05.12.1962 |
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Qualification : |
Masters Degree in Business Administration from the
University of Iowa, USA and Bachelor of Technology in Mechanical Engineering
from the Indian Institute of Technology (IIT) |
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Experience : |
25 Years |
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Date of Appointment : |
14.06.2011 |
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DIN No.: |
01104258 |
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Name : |
Mr. Ramakrishnan Kothandaraman Nellaipalli |
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Designation : |
Independent Director |
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Address : |
Villa 311, Phase 2 Adarsh Palm Meadows, Airport Whitefield Road, Near
Ramagundanahalli, Bangalore – 560066, Karnataka, India |
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Date of Birth/Age : |
17.09.1958 |
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Qualification : |
Master degree in physics with specialization in
Electronics from Mumbai University |
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Experience : |
30 Years |
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Date of Appointment : |
14.06.2011 |
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DIN No.: |
00145984 |
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|
Name : |
Mr. Amit Sureshkumar Sharma |
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Designation : |
Nominee Director |
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Address : |
Flot No. 402, 4th Floor, Orchid White, 10th Road,
Khar (West), Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
04.08.1965 |
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Qualification : |
Mechanical Engineer from South Gujarat University and has
completed his P.G.D.M from IIM, Lucknow |
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Date of Appointment : |
31.03.2012 |
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DIN No.: |
05103265 |
KEY EXECUTIVES
|
Name : |
Srabani Saha |
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Designation : |
Company Secretary |
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Address : |
C-38/ S-13, M G Complex, Sector - 14, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
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Date of Birth/Age : |
30.11.1968 |
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Date of Appointment : |
01.09.2009 |
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PAN No.: |
BBEPS4970B |
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Name : |
Mr. Sanjay Jain |
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Designation : |
Finance Head |
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|
Name : |
Mr. Sudhanshu Tewari |
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Designation : |
Business Head – Turnkey projects |
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Name : |
Mr. Nagraj Jain |
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Designation : |
Business Head, Managed IT Services |
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Name : |
Mr. Venugopal Ramanathan |
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Designation : |
Sales Head, Enterprise |
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Name : |
Mr. Nandkishor Desai |
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Designation : |
Head Buisness Denelopment and Sales, e-Governance and BFSI |
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Name : |
Mr. Rajesh Tapadia |
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Designation : |
Business Head, Data Centre and Cloud Computing at Trimax Datacentre
Services Limited |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 14.08.2012)
|
Names of Shareholders |
No. of Shares |
Percentage of
Shares |
|
|
|
|
|
ZP II Trimax Limited, Mauritius |
2512832 |
5.97 |
|
Zephyr Peacock India Fund III Limited, India |
712834 |
1.70 |
|
IL and FS Trust Company Limited |
307865 |
0.73 |
|
Standard Fiscal Markets Private Limited, India |
7800000 |
18.54 |
|
Blend Financial Services Limited, India |
50000 |
0.12 |
|
Aditya Birla Private Equity Trust, India |
3810885 |
9.06 |
|
Reena Chandraprakash Madrecha |
219600 |
0.52 |
|
Surya Prakash Madrecha |
2368200 |
5.63 |
|
Meena Madrecha |
228800 |
0.54 |
|
Chandra Prakash Madrecha |
2720000 |
6.47 |
|
Standard Fiscal Markets Private Limited, India |
1701000 |
4.05 |
|
Shrey Technologies Private Limited, India |
7651800 |
18.19 |
|
Pratik Technologies Private Limited, India |
7309200 |
17.38 |
|
Sunil Sohanlal Madrecha |
1000 |
0.00 |
|
Surya Prakash Sohanlal Madrecha-HUF |
200 |
0.00 |
|
Chandra Prakash Sohanlal Madrecha-HUF |
200 |
0.00 |
|
Banyantree Growth Capital L.L.C., India |
3829759 |
9.10 |
|
ZP India Advisory Private Limited, India |
841088 |
2.00 |
|
|
|
|
|
Total |
42065263 |
100.00 |
(AS ON 21.12.2012)
|
Names of Allottees |
|
No. of Shares |
|
|
|
|
|
ZP II Trimax Limited, Mauritius |
|
204139 |
|
|
|
|
|
Total |
|
204139 |
AS ON: 14.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
16.77 |
|
Bodies
corporate |
|
70.06 |
|
Directors
or relatives of directors |
|
13.17 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider Service to IT Sector. |
|
|
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|
Products/ Services : |
v System Integration v Managed IT Services v Managed Network Services |
GENERAL INFORMATION
|
Customers : |
·
Axis Bank ·
Bank of Baroda ·
Bharat Petroleum Corporation Limited ·
Bharat Sanchar Nigam Limited ·
Bharati Airtel Limited ·
Bhartiya Samruddhi Finance Limited ·
Canara Bank ·
Deloitte and Touche Consulting India Private
Limited ·
Enam Securities ·
Godrej ·
ITI Limited ·
Jammu and Kashmir State Data Centre ·
Karnataka State Electronics Development
Corporation Limited[KEONICS] ·
L&T Insurance [end customer: L&T
Infotech] ·
Life Insurance Corporation ·
Mahanagar Gas Limited ·
Maharashtra State Co-operative Cotton Growers'
Marketing Federation Limited ·
NABARD |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
· State Bank of Hyderabad Overseas Branch, 1204, Ashok Mahal, Tulloch Road, Colaba, Mumbai – 400039, Maharashtra, India · DBS Bank Limited Upper Ground Floor, Birla Tower, 25 Barakhamba Road, New Delhi – 110001, India · State Bank of India Industrial Finance Branch, 2nd Floor, The Arcade World Trade Centre, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India · Standard Chartered Bank Credit Documentation Unit, 90, Mahatma Gandhi Road, Fort, Mumbai - 400 001, Maharashtra, India · Axis Bank SME Business Group, 3rd Floor, RNA Corporate Park, Kalanagar, Bandra (East), Mumbai - 400 051, Maharashtra, India · Kotak Mahindra Bank 6th Floor, Dani Corporate Park, 158, C. S. T Road, Kalina, Santacruz (East), Mumbai - 400 098, Maharashtra, India · ICICI Bank Mafatlal Chamber, SEG - Department 'B' Wing, 3rd Floor, N. M. Joshi Marg, Lower Parel (East), Mumbai - 400 013, Maharashtra, India · Canara Bank Prime Corporate Branch – II, Varma Chambers, 2nd Floor, Homji Street, Mumbai - 400 001, Maharashtra, India · The HongKong and Shanghai Banking Corporation Limited 52/ 60, Mahatma Gandhi Road, Mumbai – 400 001, Maharashtra, India · Barclays Bank PLC, Ceejay House, Shivsagar Estate, Dr. A Beasant Road, Wroli, Mumbai - 400018, Maharashtra, India ·
Kotak Mahindra Bank Limited 36-38A, Nariman
Bhavan, 227,D, Nariman Point, Mumbai – 400021, Maharashtra, India · CISCO Systems Capital (India) Private Limited 2nd Floor, Brigade South Parade, 10, M.G. Road, Bangalore-560001, Karnataka, India · State Bank of India Vikhroli Branch, Mumbai, Maharashtra, India · Corporation Bank · ABN Amro Bank · HDFC Bank Limited |
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Facilities : |
Fund Base – Rs. 1100.000 Millions (State Bank of India, Vikhroli
Branch) Non Fund Base – Rs. 1900.000 Millions (State Bank of India, Vikhroli
Branch)
|
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Banking
Relations : |
-- |
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Financial
Institution : |
· CISCO Systems Capital India Private Limited 7th Floor, East Tower, 25 Barakhamba Road, New Delhi – 110001, India |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
701, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai –
400059, Maharashtra, India |
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Tel. No.: |
91-22-66729999 |
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Fax No.: |
91-22-66729777 |
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Email: |
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|
Web Site: |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFH2010F |
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Subsidiaries : |
v Trimax IT
Infrastructure and Services Pte. Limited, Singapore v Trimax Datacenter
Services Limited [U72200MH2008PLC184708] v Trimax Managed
Services Limited [U74999MH2011PLC211910] |
|
|
|
|
Enterprises in
which Key Managerial Personnel exercise significant influence: |
v Pratik
Technologies Private Limited v Shrey Technologies
Private Limited v Standard Fiscal
Markets Private Limited v Mangalam Multi
Trade Private Limited v Prestige Multi
Trade Private Limited v SMLE Solutions
Private Limited |
CAPITAL STRUCTURE
AFTER 14.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs. 10/- each |
Rs.550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42269402 |
Equity Shares |
Rs.10/- each |
Rs.422.694 Millions |
|
|
|
|
|
AS ON 14.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs. 10/- each |
Rs.550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42065263 |
Equity Shares |
Rs.10/- each |
Rs.420.653 Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs. 10/- each |
Rs.220.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17391715 |
Equity Shares |
Rs.10/- each |
Rs.173.917 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 |
173.917 |
150.001 |
150.001 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1680.199 |
794.901 |
343.002 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1854.116 |
944.902 |
493.003 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1205.400 |
759.913 |
140.393 |
|
|
2] Unsecured Loans |
451.596 |
266.382 |
262.344 |
|
|
TOTAL BORROWING |
1656.996 |
1026.295 |
402.737 |
|
|
DEFERRED TAX LIABILITIES |
92.300 |
53.793 |
14.529 |
|
|
|
|
|
|
|
|
TOTAL |
3603.412 |
2024.990 |
910.269 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
567.730 |
423.756 |
93.085 |
|
|
Capital work-in-progress |
373.367 |
0.000 |
97.065 |
|
|
|
|
|
|
|
|
INVESTMENT |
203.674 |
197.998 |
187.654 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
333.610
|
213.091 |
3.803
|
|
|
Sundry Debtors |
1799.148
|
1118.606 |
759.876
|
|
|
Cash & Bank Balances |
152.714
|
96.479 |
33.779
|
|
|
Other Current Assets |
3.634
|
2.444 |
2.794
|
|
|
Loans & Advances |
1197.949
|
728.635 |
208.064
|
|
Total
Current Assets |
3487.055
|
2159.255 |
1008.316 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
621.257
|
594.952 |
302.486
|
|
|
Other Current Liabilities |
324.139
|
74.061 |
58.509
|
|
|
Provisions |
83.018
|
87.006 |
114.856
|
|
Total
Current Liabilities |
1028.414
|
756.019 |
475.851
|
|
|
Net Current Assets |
2458.641
|
1403.236 |
532.465
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3603.412 |
2024.990 |
910.269 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5271.820 |
3515.931 |
2178.679 |
|
|
|
Other Income |
62.100 |
21.519 |
4.583 |
|
|
|
TOTAL (A) |
5333.920 |
3537.450 |
2183.262 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3511.376 |
2457.346 |
|
|
|
|
Manufacturing service costs |
201.655 |
51.969 |
|
|
|
|
Employee related expenses |
242.042 |
154.755 |
|
|
|
|
Administrative selling other expenses |
207.821 |
115.940 |
|
|
|
|
TOTAL (B) |
4162.894 |
2780.010 |
1742.836 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1171.026 |
757.440 |
440.426 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
137.201 |
87.267 |
61.539 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1033.825 |
670.173 |
378.887 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
106.100 |
41.533 |
17.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
927.725 |
628.640 |
361.737 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
262.006 |
167.965 |
111.499 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
665.719 |
460.675 |
250.238 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
791.973 |
340.073 |
94.218 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
7.637 |
7.500 |
3.747 |
|
|
|
Tax on Dividend |
1.268 |
1.275 |
0.636 |
|
|
BALANCE CARRIED
TO THE B/S |
1448.787 |
791.973 |
340.073 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Software |
178.840 |
189.566 |
77.614 |
|
|
TOTAL EARNINGS |
178.840 |
189.566 |
77.614 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
21.96 |
15.36 |
33.40 |
|
|
|
Diluted |
17.68 |
13.72 |
33.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
12.48 |
13.02 |
11.46
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.60 |
17.88 |
16.60
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.88 |
24.34 |
32.84
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
0.67 |
0.73
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.89 |
1.09 |
0.82
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39 |
2.86 |
2.12
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: NOT AVAILABLE
|
Sr. No. |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Fully convertible debentures unsecured |
449.900 |
252.300 |
|
Rupee term loans banks unsecured |
1.696 |
4.158 |
|
Interest accrued due debentures unsecured |
0.000 |
9.924 |
|
|
|
|
|
Total |
451.596 |
266.382 |
NOTE:
The Registered Office of the company has been shifted from 16, Dubhash
Building, 2nd Floor, Off Lamintong Road, Mumbai – 400004,
Maharashtra India, to the present address w.e.f. 02.03.2008.
OVERVIEW BUSINESS:
The Company offers
a comprehensive range of IT services to its customers divided into Enterprise
Solutions and Managed IT Services. The services provided by the Company broadly
comprises of the following : a) Enterprise Solutions Enterprise Solutions business
is the Company’s largest income source. Key customers of the Company’s
Enterprise Solutions business include a leading life insurance company, an
aerospace engineering company, a company engaged in the supply and distribution
of electricity and Rajasthan State Beverages Corporation Limited (RSBCL). Since
October 2007, the Company has been empanelled as system integration channel
partner for BSNL. Pursuant to this partnership, it markets and sells BSNL’s
data services, which includes configuration and maintenance of the customer’s
end equipment, network on LAN (Local Area Network) or WAN (Wide Area Network),
leased-line solutions, MPLS (Multiprotocol Label Switching) and VPN (Virtual
Private Network) solutions and other equipment to deliver end-to-end solutions
to its customers. The Company supplies, configures and maintains all necessary
equipment along with the connectivity for BSNL to provide the end-to-end
solutions. Enterprise Solutions comprises of the following:
· Compute infrastructure solutions
Compute
Infrastructure Solutions involve the supply and installation of desktop and
laptop computers, servers, operating systems and commercial off-the-shelf
software, as well as data storage solutions. The Company installs and maintains
hardware and software as a customized service.
· Network infrastructure solutions
Network
Infrastructure Solutions include networking and infrastructure components such
as routers, switches, firewalls, IPS (Intrusion Prevention System)/IDS (Intrusion
Detection System), UPS (Uninterruptible Power Supply), DG sets, precision AC
components, uninterrupted power supply solutions and fire suppression systems.
As part of the Company’s network infrastructure solutions, it received an order
for setting up a state wide area network (“SWAN”) for the state of Rajasthan.
The SWAN is designed to deliver quality services to citizens, especially in
rural areas, in the state of Rajasthan. It will supply, configure and install
the required hardware for the network and also operate the SWAN. The Company is
contracted to operate and maintain the SWAN, which it will do on a BOOT (Build,
operate, own and transfer) basis, for a period of five years.
· Software solutions
The Company
provides software development services using industry standard propriety and
open source platforms such as Java, J2EE, C++, Microsoft.NET, PHP, MySQL,
Oracle and Apache. It has developed customised applications for its customers
in the areas of ETIMs (Electronic Ticket Issuing Machine) and online
reservations systems, integrated excise management, tax filing and project
management tools.
· Turnkey solutions
The Company
integrates all its IT solutions, creating turnkey solutions which are
specifically tailored for its customers. In April 2011, the Company completed a
turnkey solution for the Rajasthan State Beverages Corporation Limited
(“RSBCL”). RSBCL needed to fully integrate its IT infrastructure with the
Rajasthan State Excise Department (‘‘RSED”) and the Rajasthan State Ganganagar
Sugar Mills (“RSGSM”).
b) Managed IT Services
Managed IT
Services business is the Company’s fastest growing revenue source. Key
customers for Managed IT Services business are BSNL, a large private bank,
Intelenet and a large national bank in India. Managed IT Services includes any
service that is delivered centrally from one location, such as from the
Company’s NOC (Network Operation Centre), data center premises or through cloud
computing services or where its employees are providing on-site or off-site operational
support. The Company has provided Managed IT Services for a large state run
transport provider in the state of Maharashtra where among other things the
Company developed an internet based ticketing system and provided and
programmed ETIMs for all buses and IT Infrastructure at a number of locations
across the state. Managed IT Services includes the following:
· Managed Network Services (MNS)
MNS are
“one-stop-shop” services designed to meet the Company’s customers’ need for
effective and reliable network services on an operational expense basis. Since
November 2008, the Company has been a MNS channel partner for BSNL. Pursuant to
this partnership, it markets and sells BSNL’s MNS, which includes enterprise
broadband, internet, MPLS and VPN connectivity. It supplies, configures and
maintains all the necessary network equipment to provide “last-mile”
connectivity. It also monitors and manages equipment and the BSNL bandwidth
service on a 24x7 basis. Since July 2010, we have been a Silver Channel Partner
for BSNL. Pursuant to this partnership, we market and sell BSNL’s voice and
data services to BSNL’s Silver customers in certain BSNL regional circles.
· Cloud computing
Cloud computing is
a style of computing in which dynamically scalable and often virtualized
recourses are provided as a service over the internet. It includes the
following:
Virtual Private Server (VPS)
VPS create many
server partitions within one server. Each partitioned server has the appearance
and capabilities of a dedicated server with its own allocated capacity. VPS
allow a server to be shared, which reduces the server costs for customers
without sacrificing the quality of the service provided.
Web design and hosting
The Company offers
“do it yourself” tools that enable its customers to design their own websites
with existing templates provided in the web design system.
· Data centre services
A Data Centre is a
centralized repository for the storage, management and dissemination of data
and information. It consists of a raised floor server farm room, supported
utility area and a NOC.
· Facility Management Services (FMS)
FMS are
single-source solutions provided to customers seeking customised facility
management and business support services such as (i) IT helpdesk; (ii) desktop
management services; (iii) server administration and management; (iv) network
management; (v) data centre operations management; (vi) mail messaging system
administration; (vii) IT security management; (viii) application management;
(ix) data base administration; (x) vendor management services; and (xi) asset
management services.
CONTINGENT
LIABILITIES
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Outstanding bank guarantees |
254.814 |
114.030 |
|
Corporate guarantee given by the company to Bank on
behalf of the company’s subsidiary Trimax Datacenter Services Limited |
510.000 |
510.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10424183 |
10/04/2013 |
245,000,000.00 |
STATE BANK OF
HYDERABAD |
1204, ASHOK
MAHAL, TULLOCH ROAD, COLABA,, MUMBAI, |
B74595398 |
|
2 |
10425324 |
18/03/2013 |
250,000,000.00 |
AXIS BANK
LIMITED |
AXIS HOUSE,
GROUND FLOOR, BOMBAY DYEING MILLS, CO |
B74996471 |
|
3 |
10382100 |
28/09/2012 |
4,000,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER
TOWER, 'E', CUFFE PARADE,, COLABA,, MU |
B60302270 |
|
4 |
10329845 |
20/09/2012 * |
120,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
B58869090 |
|
5 |
10330963 |
05/11/2012 * |
572,000,000.00 |
DBS BANK LTD. |
UPPER GROUND
FLOOR, BIRLA TOWER,, 25 BARAKHAMBA R |
B62249172 |
|
6 |
10335087 |
20/12/2011 |
572,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND
FLOOR, BIRLA TOWER,, 25 BARAKHAMBA R |
B31912249 |
|
7 |
10303691 |
01/09/2011 |
23,055,233.00 |
CISCO SYSTEMS
CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR, BRIGADE
SOUTH PARADE, 10, M.G. ROAD, |
B19392075 |
|
8 |
10294672 |
01/07/2011 |
5,490,778.00 |
CISCO SYSTEMS
CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR,
BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
B16000556 |
|
9 |
10286337 |
01/05/2011 |
8,444,746.00 |
CISCO SYSTEMS
CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR,
BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
B12358446 |
|
10 |
10285610 |
25/03/2011 |
14,935,287.00 |
CISCO SYSTEMS
CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR,
BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
B12359139 |
|
11 |
10265096 |
11/01/2011 |
160,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, THE ARCADE, |
B04735627 |
|
12 |
10255701 |
11/10/2010 |
127,000,000.00 |
STANDARD
CHARTERED BANK |
90, M G ROAD,, FORT,
MUMBAI, MAHARASHTRA - 400001 |
A99453953 |
|
13 |
10232841 |
10/08/2010 |
5,591,540.00 |
CISCO SYSTEMS
CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR,
BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
A91021063 |
|
14 |
10229297 |
13/07/2010 |
5,154,044.94 |
HEWLETT PACKARD
FINANCIAL SERVICES (INDIA) PRIVATE |
3RD FLOOR,
CALCOT HOUSE, 8/10, M.P. SHETTY MARG, |
A89304422 |
|
15 |
10187674 |
03/12/2009 |
240,000,000.00 |
STANDARD
CHARTERED BANK |
90, M G ROAD,,
FORT,, MUMBAI, MAHARASHTRA - 40000 |
A74123944 |
|
16 |
10106957 |
18/06/2008 |
361,000.00 |
HEWLETT PACKARD
FINANCIAL SERVICES (INDIA) PRIVATE |
20TH FLOORNIRMAL,
NARIMAN POINT, MUMBAI, MAHARASH |
A40127375 |
|
17 |
10106956 |
18/06/2008 |
1,526,999.00 |
HEWLETT PACKARD
FINANCIAL SERVICES (INDIA) PRIVATE |
20TH
FLOORNIRMAL, NARIMAN POINT, MUMBAI, MAHARASH |
A40127334 |
* Date of charge modification
FIXED ASSETS:
Tangible assets
v Office Equipment
v Computers
v Plant and Machinery
v Furniture and Fixture
v Motor Vehicles
Intangible assets
v
Software
PRESS RELEASE
Rajasthan State Road Transport Corporation wins the e-Governance
Rajasthan award for the Online Reservation System (ORS) and the integration of
the existing Electronic Ticket Issuing Machines (ETIM) with the Online
Reservation System.
The National e-Governance Plan (NeGP) has the vision of making all
Government services accessible to the common man in his locality, through
common service delivery outlets, and ensure efficiency, transparency, and
reliability of such services at affordable costs to realise the basic needs of
the common man. The Government of Rajasthan has undertaken various initiatives
to realize this vision of NeGP.
To recognize the efforts and the excellence achieved, the Department of
Information Technology and Communication had instituted an Awards platform to
award the officers of the State Government who have implemented eGovernance
initiatives in an exemplary manner. The awardees were measured on 2 criteria
e-Governance impact
e-Governance Leadership traits
In the A2 category of awards for Senior Departmental Functionaries
/Heads of Department, Shri. Manjit Singh was nominated for the award
for the implementation of Online Reservation System (ORS) and the integration
of the existing Electronic Ticket Issuing Machines (ETIM) with ORS in Rajasthan
State Road Transport Corporation. This project was awarded to Trimax IT
Infrastructure and Services Ltd., who executed the project and is also managing
the same for 5 years. The project was taken up by Trimax on BOOT (Build,
Operate, Own, and Transfer) model. Trimax has also implemented ORS and ETIM in
MSRTC (Maharashtra State Road Transport Corporation) and various other
Transport Solutions across various States and City Road Transport Corporations.
Aditya Birla Capital Advisors announces Investment of
Rs.1000.000 Millions in Trimax IT Infrastructure and Services Limited
Mumbai, April 10,2012: Aditya Birla Private Equity – Fund has invested
Rs 1000.000 millions in Mumbai based Trimax IT Infrastructure and
Services Limited (Trimax), one of the India’s leading IT Services and
Solutions company. Trimax will use the proceeds from the fund-raising to
finance its aggressive expansion plans in the backdrop of significant order
flow from domestic IT services market and to bolster its global plans.
Set up in 1995, under the leadership of Mr. Surya Prakash Madrecha and
Mr. Chandra Prakash Madrecha, the company has grown from being a System
Integrator to offering full fledged IT Solutions and IT Infrastructure
Management Services. Trimax has since successfully built capabilities and
solutions in the Transport, Government, PSU, BFSI, Enterprise SME sectors,
right from offering Network Management to executing large scale complex turnkey
projects in the Government, PSU and Private sectors.The company has an
impressive clientele including well reputed Private companies and Government
agencies and caters to more than 700 Small and Medium Enterprises (SMEs) in
India.
Commenting on the occasion, Mr. Bharat Banka, Chief Executive Officer,
Aditya Birla Capital Advisors Private Limited (ABCAP) said “Trimax is uniquely
placed within e-governance and the Enterprise sectors which exhibit strong and
encouraging growth prospects. It is an IT Service and Solution provider to
industries witnessing exponential growth like banking and financial services,
telecom and transportation, amongst others, and is poised to benefit from the
massive ramp-ups and projects underway in these sectors. We are excited to
collaborate with Trimax and play a value-added role in the growth of the
company.”
Speaking on the occasion, Mr. Surya Prakash Madrecha, Managing Director,
Trimax, added “Trimax has drawn up aggressive expansion and
diversification plans which entail investment in capital expenditure and
long-term working capital. We have witnessed significant growth in India in
various sectors and will continue expand both our service lines as well as
foray into newer sectors. Parallely, we also plan to expand overseas into
emerging and developing markets. We believe that an active investor like
ABCAP, with a partnership approach, will definitely help us speed up the growth
momentum. The extensive network of our investment partners, ABCAP, and their
deep reach within Indian and international business zones will help us capture
more business opportunities”.
About Aditya Birla Capital Advisors
Aditya Birla Capital Advisors Private Limited (ABCAP) offers asset
management and advisory services in private Equity, to domestic and global
investors. The company has adopted a unique investment style of partnering with
its portfolio companies by providing strategic and operational intervention and
has its focus on growth investments in mid market companies, with India as
investment destination.
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 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.61.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.