MIRA
INFORM REPORT
|
Report Date : |
31.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
GEOMETRIC LIMITED |
|
|
|
|
Registered
Office : |
Plant 6, Pirojshanagar, Vikhroli (West), Mumbai-400079, Maharashtra |
|
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.03.1994 |
|
|
|
|
Com. Reg. No.: |
11-077342 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.126.072
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L72200MH1994PLC077342 |
|
|
|
|
IEC No.: |
0394027329 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG06739F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG0066A |
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|
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Providing Software Services and Engineering Services. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 9912000 |
|
|
|
|
Status : |
Good |
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|
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|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having good track record. Financial
position of the company seems to be strong and healthy. Trade relations are
fair. Business is active. Payment terms are regular. The company can be considered for business dealing 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.
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
Management non co-operative [91-22-67056500]
LOCATIONS
|
Registered Office : |
Plant 6, Pirojshanagar, Vikhroli (West), Mumbai-400079, Maharashtra,
India |
|
Tel. No.: |
91-22-67056556 / 67056500 |
|
Fax No.: |
91-22-67056891 |
|
E-Mail : |
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|
Website : |
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|
|
|
Overseas Office: |
|
|
|
|
|
Branch Office : |
Pune Plot No. 15/B Pune Infotech Park MIDC,
Hinjewadi Taluka Mulshi Pune 411 057 Maharashtra, India Embassy TechZone, Plot No. 3, Block No. 11,
Nile Building, Rajiv Gandhi Infotech Park, MIDC, Hinjewadi, Phase-II, Village
- Marunji, Pune 411 057, Maharashtra India Bangalore Chennai Hyderabad |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Jamshyd N Godrej |
|
Designation : |
Chairman |
|
Address : |
40-D, B.G. Kher Marg, Malabar Hills, Mumbai – 400006, |
|
Date of Birth/Age : |
62 years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Manu M Parpia |
|
Designation : |
Managing Director |
|
Address : |
72, Tenerif, Little |
|
Date of Birth/Age : |
61 years |
|
Qualification : |
B.A. in Chemical Engineering M.B.A. Diploma in Finance and Accounting |
|
|
|
|
Name : |
Mr. Kyamas A Palia |
|
Designation : |
Director |
|
Address : |
Patel- |
|
Date of Birth/Age : |
65 years |
|
Qualification : |
Ph.D. in Business Administration |
|
|
|
|
Name : |
Mr. Milind S Sarwate |
|
Designation : |
Director |
|
Address : |
E-201/202, Sita Vihar, Near Damani Estate, L.B.S. Marg, Naupada, Thane
– 400602, Maharashtra, India |
|
Date of Birth/Age : |
51 years |
|
Qualification : |
|
|
|
|
|
Name : |
Mr. Richard Riff |
|
Designation : |
Director |
|
Address : |
2672 W, |
|
Date of Birth/Age : |
63 years |
|
Qualification : |
Mechnical Engineer and Master’s in Doctrate of Science and
Aeronautics. |
|
|
|
|
Name : |
Mrs. Anita Ramchandran |
|
Designation : |
Director |
|
Address : |
13, Navroze Apartments, |
|
Date of Birth/Age : |
56 years |
|
Qualification : |
Post Graduate in Business Management |
|
Experience : |
30 years |
|
|
|
|
Name : |
Mr. Ajay Mehra |
|
Designation : |
Director |
|
Address : |
19 Orion, |
|
Date of Birth/Age : |
43 years |
|
Qualification : |
Chartered Accountant |
KEY EXECUTIVES
|
Name : |
Mr. Manu M Parpia |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Maria Monserrate |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4619925 |
7.31 |
|
|
18854008 |
29.85 |
|
|
23473933 |
37.17 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
23473933 |
37.17 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
145604 |
0.23 |
|
|
45974 |
0.07 |
|
|
399447 |
0.63 |
|
|
1239337 |
1.96 |
|
|
1830362 |
2.90 |
|
|
|
|
|
|
1649976 |
2.61 |
|
|
|
|
|
|
13300737 |
21.06 |
|
|
19146524 |
30.31 |
|
|
3759361 |
5.95 |
|
|
125172 |
0.20 |
|
|
865019 |
1.37 |
|
|
2689170 |
4.26 |
|
|
80000 |
0.13 |
|
|
37856598 |
59.94 |
|
Total Public shareholding (B) |
39686960 |
62.83 |
|
Total (A)+(B) |
63160893 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
63160893 |
0.00 |
SHAREHOLDING
OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS
BELONGING TO THE CATEGORY “PROMOTER AND PROMOTER GROUP”
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
1 |
Godrej & Boyce Mfg Company Limited |
1,12,75,000 |
17.85 |
|
2 |
Godrej Investments Private Limited |
75,79,008 |
12.00 |
|
3 |
Manu M Parpia |
42,87,925 |
6.79 |
|
4 |
Lynn M Parpia |
2,10,000 |
0.33 |
|
5 |
Kamalini Mahmud Parpia |
1,17,000 |
0.19 |
|
6 |
Alia Hermione Manu Parpia |
5,000 |
0.01 |
|
|
Total |
2,34,73,933 |
37.17 |
SHAREHOLDING
OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING
TO THE CATEGORY “PUBLIC” AND HOLDING MORE THAN 1% OF THE TOTAL NUMBER OF SHARES
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
1 |
Jhunjhunwala Rakesh Radheshyam |
11261250 |
17.83 |
|
2 |
IDBI Trusteeship Services Limited (india Advantage Fund- V) |
2688920 |
4.26 |
|
3 |
Rekha Jhunjhunwala |
990000 |
1.57 |
|
4 |
Harsha Hemang Dharamshi |
900000 |
1.42 |
|
5 |
Asia Vision Fund |
650000 |
1.03 |
|
|
Total |
16490170 |
26.11 |
SHAREHOLDING
OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS
(TOGETHER WITH PAC) BELONGING TO THE CATEGORY “PUBLIC” AND HOLDING MORE THAN 5%
OF THE TOTAL NUMBER OF SHARES OF THE COMPANY
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
1 |
Jhunjhunwala Rakesh Radheshyam |
11261250 |
17.83 |
|
|
Total |
11261250 |
17.83 |
BUSINESS DETAILS
|
Line of Business : |
Providing Software Services and Engineering Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
Citibank, Fort, R.N. Road, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
Kalpataru Heritage 127, |
|
Tel. No.: |
91-22-61587200 |
|
Fax No.: |
91-22-22673954 |
|
|
|
|
Associates/Subsidiaries : |
·
3D PLM Software Solutions Limited ·
Geometric Asia Pacific Pte. Limited ·
Geometric China Inc. ·
Geometric Japan KK ·
Geometric Americas, Inc. ·
Geometric SAS. ·
Geometric Romania SRL ·
Geometric Europe GmbH ·
3cap technologies GmbH (w.e.f. January, 01, 2013) ·
Godrej and Boyce Manufacturing Company Limited ·
Godrej Infotech Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000000 |
Equity Shares |
Rs.2/- each |
Rs.160.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
63036194 |
Equity Shares |
Rs.2/- each |
Rs.126.072
Millions |
NOTES:
RIGHT /TERMS
ATTACHED TO EQUITY SHARES:
The company has
only one class of equity shares having par value of ` 2 per share. Each share
holder is eligible for one vote per share held. The dividend proposed by the
Board of Directors is subject to the approval of shareholders in the ensuing
general meeting, except in case of interim dividend. In the event of
liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
DETAILS OF SHAREHOLDERS HOLDING 5% OR MORE SHARES IN THE COMPANY:
|
Name of Shareholder |
As on 31.03.2013 |
|
|
|
No. of Shares |
% of Holding |
|
Godrej and Boyce Manufacturing Company Limited |
11275000 |
17.89 |
|
Godrej Investments Private Limited |
7579008 |
12.02 |
|
Manu M. Parpia |
4267925 |
6.77 |
|
Rakesh Radheshyam Jhunjhunwala |
11261250 |
17.86 |
|
IDBI Trusteeship Services Limited (India Advantage Fund-V) |
2688920 |
4.27 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
126.072 |
125.340 |
124.851 |
|
(b) Reserves & Surplus |
2351.732 |
1948.837 |
2136.103 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.313 |
0.387 |
0.235 |
|
Total Shareholders’ Funds (1) + (2) |
2478.117 |
2074.564 |
2261.189 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
11.386 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
11.386 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
44.619 |
|
(b)
Trade payables |
15.528 |
41.343 |
17.067 |
|
(c)
Other current liabilities |
309.907 |
319.791 |
268.768 |
|
(d) Short-term
provisions |
445.437 |
598.662 |
130.804 |
|
Total Current
Liabilities (4) |
770.872 |
959.796 |
461.258 |
|
|
|
|
|
|
TOTAL |
3248.989 |
3034.360 |
2733.833 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
107.214 |
85.402 |
176.982 |
|
(ii)
Intangible Assets |
119.563 |
104.354 |
112.895 |
|
(iii)
Capital work-in-progress |
7.924 |
0.402 |
0.956 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
809.623 |
626.580 |
126.980 |
|
(c) Deferred tax
assets (net) |
17.552 |
29.408 |
0.000 |
|
(d) Long-term Loan and Advances |
1087.390 |
692.596 |
640.950 |
|
(e) Other
Non-current assets |
2.999 |
2.989 |
22.945 |
|
Total Non-Current
Assets |
2152.265 |
1541.731 |
1081.708 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
249.432 |
465.453 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
528.782 |
469.285 |
1247.957 |
|
(d) Cash
and cash equivalents |
33.877 |
352.707 |
25.183 |
|
(e)
Short-term loans and advances |
118.462 |
105.826 |
164.031 |
|
(f) Other
current assets |
166.171 |
99.358 |
214.954 |
|
Total
Current Assets |
1096.724 |
1492.629 |
1652.125 |
|
|
|
|
|
|
TOTAL |
3248.989 |
3034.360 |
2733.833 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3522.497 |
2697.321 |
2349.923 |
|
|
|
Other Income |
169.045 |
358.008 |
264.748 |
|
|
|
TOTAL (A) |
3691.542 |
3055.329 |
2614.671 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefits Expenses |
1955.701 |
1902.202 |
1597.804 |
|
|
|
Other Expenses |
1171.803 |
786.292 |
697.719 |
|
|
|
Exceptional Expenses / Items |
(6.124) |
(243.942) |
0.000 |
|
|
|
TOTAL (B) |
3121.380 |
2444.552 |
2295.523 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
570.162 |
610.777 |
319.148 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.699 |
3.906 |
6.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
567.463 |
606.871 |
313.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
123.551 |
88.760 |
79.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
443.912 |
518.111 |
233.098 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
99.710 |
106.127 |
10.029 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
344.202 |
411.984 |
223.069 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1479.630 |
1213.400 |
1098.030 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
34.420 |
41.200 |
22.400 |
|
|
|
Final Dividend |
107.240 |
100.440 |
74.910 |
|
|
|
Dividend Tax |
18.210 |
16.270 |
10.390 |
|
|
|
Reversal of excess provision for dividend distribution tax of previous
years |
(11.230) |
(12.150) |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1675.192 |
1479.624 |
1213.399 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Income from Software Development and Sale of Software |
2976.273 |
2264.991 |
2048.229 |
|
|
|
Reimbursement of Expenses |
21.257 |
26.010 |
15.170 |
|
|
|
Interest and Dividend |
46.419 |
39.794 |
35.910 |
|
|
TOTAL EARNINGS |
3043.949 |
2330.795 |
2099.309 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
42.882 |
60.665 |
58.365 |
|
|
TOTAL IMPORTS |
42.882 |
60.665 |
58.365 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
5.48 |
6.58 |
3.58 |
|
|
|
- Diluted |
5.40 |
6.54 |
3.55 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Net Sales |
|
|
883.100 |
|
Total Expenditure |
|
|
715.400 |
|
PBIDT (Excl OI) |
|
|
167.700 |
|
Other Income |
|
|
28.000 |
|
Operating Profit |
|
|
195.700 |
|
Interest |
|
|
00.800 |
|
PBDT |
|
|
194.900 |
|
Depreciation |
|
|
36.400 |
|
Profit Before Tax |
|
|
158.500 |
|
Tax |
|
|
50.800 |
|
Profit After Tax |
|
|
107.700 |
|
Net Profit |
|
|
107.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.32
|
13.48 |
8.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.60
|
19.21 |
9.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.35
|
21.79 |
8.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.25 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.55 |
3.58 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: 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 |
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 (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80015396 |
23/10/2007 * |
260,000,000.00 |
CITIBANK BANK
N.A. |
BANDRA-KURLA COMPLEX,
BANDRA EAST, MUMBAI - 400051, MAHARASHTRA, INDIA |
A27484500 |
|
* Date of charge modification |
||||||
BUSINESS REVIEW:
Part of the major
markets that they serve showed a lot of uncertainty in the second half of the financial
year, particularly the off-highway equipment manufacturing industry and Europe
geography. Automotive industry, positively recovering from the global
recession, saw demand returning in global engineering resulting in a gradual
increase in demand for their key offerings in engineering and PLM IT. Aerospace
also showed promise though from a small base.
The business
segments of the Company – software services, engineering services, products and
embedded systems recorded the following trends in the year FY13:
• Software
services contribution to the top line decreased from 55.45% in FY12 to 55.20%
in FY13.
• Engineering
services contribution to the top line decreased from 39.30 % in FY12 to 39.02 %
in FY13.
• Products
business contribution to the top line increased from 5.3% in FY12 to 5.7% in
FY13.
The Company’s
performance in the four regions in which they operate can be summarized as
follows:
• USA’s share
decreased from 71.3% in FY12 to 65.10% in FY13; a growth of 8% in absolute
terms.
• Europe’s share
of revenue increased from 18.4% in FY12 to 23.89% in FY13; almost two-fold
growth in absolute terms which includes revenue consolidated on account of
acquisition of 3cap.
• APAC’s share
increased from 4.2% in FY12 to 4.53% in FY13.
• India’s share
increased from 6.10% in FY12 to 6.48% in FY13.
These numbers
reflect the positive demand environment in Europe and investments in India
which continue to be their growth markets.
Trends in various customer segments that the
Company caters to were as follows:
• Direct
Industrial: Segment share of business Increased from 60.7% in FY12 to 61.94% in
FY13. In absolute terms, this segment recorded a growth of 13.82 % over the
previous year. (USD 109.62 Mn in FY13 Vs USD 96.31 Mn in FY12)
• Strategic
Partners: Segment share of business reduced from 6.8% in FY12 to 5.18% in FY13;
showing a reduction of 14.51% in absolute terms. (USD 9.04 Mn in FY13 Vs USD
10.72 Mn in FY12)
• Software ISVs:
Segment share of business Increased from 32.6% in FY12 to 32.88% in FY13. In
absolute terms, this segment recorded a growth of 12.62 % over the previous
year. (USD 58.20 Mn in FY13 Vs USD 51.68 Mn in FY12)
In the coming financial
year, their vertical organization and segregated business development focus on
farming and hunting accounts will help us build closer customer relationships.
Their investments in embedded systems, new IP based solutions with partners and
their consulting capabilities are poised to provide comprehensive solutions for
their identified accounts globally. They expect better growth coming from
Europe, especially in PLM IT over the next year.
MANAGEMENT’S
DISCUSSION AND ANALYSIS REPORT
BUSINESS ENVIRONMENT
AND OUTLOOK:
Subject operates
in the Engineering to Manufacturing space and predominantly for the engineering
intensive discrete manufacturing industries. Their services, solutions and
technology portfolio referred to as Engineering Services in the discussion and
analysis report, covering product realization services and solutions, such as
Product Lifecycle Management, Software Product Development and Global
Engineering services aims to increase the effectiveness and efficiency of
design, engineering and manufacturing business processes for firms across the
globe.
FY13 saw
Geometrics’ major markets start positively on a recovery path from the global
recession. However the economic uncertainties and slower than expected progress
particularly in the capital intensive equipment industry called for some
mid-year plateau in demand. While discretionary budgets were under pressure,
the positive part is that forward looking decisions and strategic initiatives
in global engineering are resulting in a gradual increase in demand for their
key offerings going into the new financial year.
The automotive
industry, an important market for Subject, saw its R and D spend remain flat
over the past year. A large part of the R and D investments is spent on
technologies to reduce emissions, improve engine efficiency and performance and
towards making cars safer. On the operational side the focus has been on making
the organization more efficient, supporting globalization and industry level
collaboration. A new trend emerged where the industry saw more direct OEM – OEM
collaboration. This has provided opportunities for Subject to strengthen its
engagements with leading automotive OEMs. Subject is favourably placed to
provide solutions for the OEMs’ needs of extended collaboration and supporting
their IT needs globally. The automotive OEMS in China are another area of
opportunity as they open up to implement solutions for world class processes.
The automotive industry is certainly promising with opportunities for Subject,
however given the industry’s sourcing maturity and the economic uncertainties
that the industry continues to balance, it would also put pressure on prices.
The Off-highway
Equipment (Construction, Agriculture and Mining) industry began the previous
year with the highest level of order backlogs. But each sub-segment saw a
different trajectory as they progressed through the year. The construction
industry remained subdued with very minor investment growth, the agriculture
industry continued on a very organic growth path while the mining industry was
hit with a severe downturn and the segment lost almost half of its order book.
The industry on the whole has regrouped and cost cutting programs are being
driven across the board. Having faced the short-term burnt, there is an
opportunity for Subject to capitalize and provide solutions to their customers
to help take out cost from their products, product development processes,
manufacturing processes and global collaboration. Global engineering services
and engineering productivity needs of the industry will strengthen even more
providing us the opportunity to serve the industry locally in regions like
China and India.
Aerospace is
Geometric’s strategic growth market. The commercial aircraft sector continued
to trend upwards in building upon its production momentum. Commercial aircraft
demand is expected to expand over the next many years given the economic growth
in emerging markets, demand for fuel-efficient planes and engine technologies.
The aviation industry has an old fleet with poor economics and fuel efficiency
which the industry expects to retire and replace 6,000 aircrafts in the next 15
years. The industry lead by the aircraft OEMS is pushing the speed of R and D
and this is driving parallel activity increases in the aerospace supply chain,
from engines, to avionics, to wiring harnesses, passenger seats and landing
gear among others opening up large scale engineering opportunities. To gear up
towards this major players in the industry are looking at simplifying and
modernizing their IT landscapes leading to opportunities for Subject. Though
the sales cycles will continue to be stretched, Subject is well positioned to
address the market needs emerging particularly from Europe. The modernization
of India’s air defense systems will further provide opportunities to help
global companies address their offset obligations. The biggest area of R and D
and new development across industries is electronics and embedded systems. The
acquired capabilities of 3Cap technologies provides us the foundation to
benefit from serving the growing electronics needs of their established
customer base while continuing to strengthen the engagements with new customers
brought in with 3Cap.
Partnerships with
major software products providers for the engineering domain, whether for
multi-year turnkey software product development programs or for co-development
of new solutions continues to be Geometric’s strength. A strong governance
model with their software partners to serve the end customer together will be
key to their success.
In the
manufacturing industry at large, the restructuring measures and process
improvement programs are now extending to global locations and continue to
drive IT and engineering outsourcing with focus to leverage the provider’s
strengths in multiple geographical locations. Research and Development will
continue for green technologies and localization of products for the new growth
market. All of these trends are poised to deepen and widen the opportunities
available for Subject.
OUTLOOK:
The Company had
launched a number of strategic initiatives in the year and plans to build on
these to achieve continuous improvement and steady business performance in the
coming year.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
|
Income Tax Assessment Year for A.Y. 2005-06 |
0.746 |
0.746 |
|
Income Tax Assessment Year for A.Y. 2009-10 |
1.750 |
0.000 |
|
Assessment Year 2008-09 (TDS 24Q) |
17.642 |
17.642 |
|
Assessment Year 2008-09 (TDS 26Q) |
5.251 |
5.251 |
|
Assessment Year 2010-11 (TDS 26Q) |
0.031 |
0.031 |
|
Assessment Year 2011-12 (TDS 26Q) |
0.767 |
0.767 |
|
Income Tax Assessment for A.Y. 2005-06 |
13.751 |
0.000 |
|
Income Tax Assessment for A.Y. 2006-07 |
13.054 |
0.000 |
|
Income Tax Assessment for A.Y. 2007-08 |
15.290 |
15.290 |
|
Income Tax Assessment for A.Y. 2008-09 |
15.770 |
0.000 |
|
Income Tax
Assessment for A.Y. 2009-10 on matter, pending with dispute resolution panel |
20.190 |
0.000 |
|
TOTAL
|
104.242 |
39.727 |
FIXED ASSETS:
·
Leasehold Land
·
Building
·
Computers
·
Electrical Installation
·
Office Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
STATEMENT OF STANDALONE AUDITED
RESULTS FOR THE PERIOD ENDED JUNE 30, 2013
Rs. in Millions
|
Sr. No. |
Particular |
3
Months Ended |
|
|
|
30.06.2013 |
|
|
|
Audited
|
|
|
|
|
|
1. |
Revenue From Operations |
883.100 |
|
|
|
|
|
2. |
Expenditure |
|
|
|
Employee
benefits expenses |
492.500 |
|
|
Depreciation
and amortization expenses |
36.400 |
|
|
Other
expenses |
222.900 |
|
|
Total Expenses |
751.800 |
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
131.300 |
|
|
|
|
|
4. |
Other
Income |
28.000 |
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
159.300 |
|
|
|
|
|
6. |
Interest |
0.800 |
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
158.500 |
|
|
|
|
|
8. |
Exceptional
Items |
-- |
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
158.500 |
|
|
|
|
|
10. |
Tax
Expense |
50.800 |
|
|
|
|
|
11. |
Net Profit
from Ordinary Activities after Tax (9-10) |
107.700 |
|
|
|
|
|
12. |
Extraordinary
Item (net of expense) |
-- |
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
107.700 |
|
|
|
|
|
14. |
Paid-up
Equity Share Capital (Face Value of Rs.2/- Each) |
126.300 |
|
|
|
|
|
15. |
Reserves
Excluding Revaluation Reserve |
-- |
|
|
|
|
|
16. |
Basic and Diluted Earning Per
Share (EPS) (Rs.)-Not Annualised |
|
|
|
a) Basic
and diluted EPS before extraordinary items |
1.71 |
|
|
b)
Basic and diluted EPS after extraordinary items |
1.68 |
|
|
|
|
|
17. |
Public Shareholding |
|
|
|
-Number
of Shares |
39686960 |
|
|
-
Percentage of Shareholding |
62.83 |
|
|
|
|
|
18. |
Promoters and Promoter Group
Shareholding |
|
|
|
a) Pledged/Encumbered |
|
|
|
-
Number of Shares |
Nil |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of promoter and
promoter group) |
Nil |
|
|
- Percentage
of Shares (as a % of the Total Share Capital of the Company) |
Nil |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
-
Number of Shares |
23473933 |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of Promoter and
Promoter Group) |
100.00 |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
37.17 |
|
Particulars |
3 Months Ended 30.06.2013 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
5 |
|
Disposed of during the quarter |
4 |
|
Remaining unresolved at the end of the
quarter |
1 *l [* Since resolved on July 3,
2013] |
PRESS RELEASE:
GEOMETRIC TO
SHOWCASE ITS AUTOMATION SOLUTIONS AT EMO 2013
TO DEMONSTRATE THE LATEST VERSIONS OF CAMWORKS® AND
DFMPRO®
MUMBAI, INDIA; SCOTTSDALE, AZ;
AND STUTTGART, GERMANY, AUGUST 29, 2013: Geometric Limited, a leader in
developing advanced manufacturing software will preview the latest enhancements
for DFMPro, its automated design validation tool and CAMWorks, its intuitive
solids-based CNC programming solution at Booth # J09, Hall 25 at EMO 2013,
Hanover, Germany from September 16-21, 2013. With the focus on providing
customers with the most effective tools to reduce time to market, Geometric
presents solutions that focus on reducing non-value add time right from the
design stage to manufacturing process planning and final shop floor delivery.
Geometric will showcase its award-winning product DFMPro, a unique solution
that identifies and enables designers to fix manufacturability related issues
at the design stage itself. Today, design engineers spend around 30% or more
time on rework due to an iterative product development process, which impacts
costs and time to market. Organizations, typically, have manual design review
processes, which include filling checklists, referring handbooks and one-to-one
discussions that differ from department to department. Most of these manual
checks are time consuming and error prone. DFMPro comes with global best
practices in the area of manufacturability and assembly, along with a powerful
framework to add an organization’s in-house best practices. This allows design
engineers to save time on design reviews and rework, and utilize such time in
creating innovative products.
Moving from design validation to toolpath validation, a key
differentiation Geometric brings with its CAM solution, CAMWorks is the
availability of true G-code machine simulation. The standard machine simulation
technology prevalent in the market typically simulates based on CL data only.
CAMWorks Virtual Machine Module goes beyond ‘look good’ simulation and allows
users to create first-time-right NC programs for complex multi-tasking machines
and simulate post processed G-code seamlessly within one system saving shop
floor time and improving throughput.
EMO visitors will also get a chance to see CAMWorks VoluMill™ in action
on a Haas milling machine at Geometric’s booth. This ultra-high performance toolpath
has provided cycle time savings of as much as 80% while maintaining tool life.
This has been made possible by maintaining uniform chip formation and superior
heat dissipation.
ABOUT CAMWORKS
CAMWorks, a parametric, solids based CNC programming software system,
brings in a revolutionary way to help machinists around the world to program
fast and machine faster. CAMWorks significantly reduces programming time and
removes the drudgery from CNC programming by using patented Feature Recognition
technology in conjunction with full toolpath to solid-model associativity and
knowledge-based machining. Besides ease-of-programming using CAMWorks,
organizations can be assured of the most efficient toolpaths using CAMWorks
VoluMill to maintain their competitive edge in the marketplace.
ABOUT DFMPRO
DFMPro is a design assistant solution for validating designs from
manufacturing point of view right at the design stage. It automates
manufacturability checks, which helps design and manufacturing engineers validate
the design quickly. DFMPro assists identification of design areas that are
difficult, expensive or impossible to manufacture, assemble and service. It
works on the principle of ‘Right First Time’ by validating manufacturability
guidelines right at the design stage. These guidelines can be easily configured
as per organizational requirements in the form of rules. It also facilitates a
collaborative design environment by generating reports, which are compact and
easy to share.
ABOUT GEOMETRIC
Geometric is a specialist in the domain of
engineering solutions, services and technologies. Its portfolio of Global
Engineering services, Product Lifecycle Management (PLM) solutions, Embedded
System solutions, and Digital Technology solutions enables companies to
formulate, implement, and execute global engineering and manufacturing
strategies aimed at achieving greater efficiencies in the product realization
lifecycle.
Listed on the Bombay and National stock exchanges in India, the company
recorded consolidated revenues of Rupees 10.20 billion (US Dollars 187.57
million) for the year ended March 2013. It employs over 4600 people across 13
global delivery locations in the US, the UK, France, Germany, Romania, India,
and China. Geometric was assessed as CMMI 1.1 Level 5 for its software services
and is ISO 9001:2008 certified for engineering operations. The company’s
operations are also ISO 27001:2005 certified.
GEOMETRIC LAUNCHES
A STANDALONE DFX VALIDATION SOLUTION
EMPOWERS DESIGN ENGINEERS TO VALIDATE THEIR DESIGNS FOR
MANUFACTURABILITY,
ASSEMBLY, SERVICEABILITY, WARRANTY, QUALITY AND
OTHERS
MUMBAI, INDIA,
AUGUST 20, 2013: Geometric Limited (BSE: 532312, NSE: GEOMETRIC), a leader in Product
Lifecycle Management (PLM), Global Engineering Services, and Offshore Software
Product Development (OSPD) solutions and technologies, today announced the
launch of Geometric DFX, a standalone application for carrying out DFX
validation of product designs. Geometric DFX is powered by Geometric’s
award-winning design for manufacturability solution DFMPro® and leverages the
CGM 3D modeling kernel from Spatial Corp., a leading provider of 3D components
for technical application development. Spatial’s 3D InterOp is also used to
enable data reuse for native CATIA® V5 and other leading CAD formats.
DFX stands for
Design for X where X represents various downstream process checks related to
manufacturability, assembly, quality, warranty, penalty, serviceability,
environment, reliability and so on. It is essential to incorporate various DFX
guidelines early in the product development phase to reduce defects, cut down
rework, eliminate waste, shorten time to market and save costs. Traditionally,
organizations have been using manual DFX checks, which are time consuming and
error prone. Geometric DFX addresses this problem by enabling designers to
validate 3D CAD data using design rules based on global best practices for
various downstream issues as listed above.
“Geometric DFX automates
the process of DFX validation in a standalone package early during the design
stage, thereby cutting down the long review process and identification of
downstream issues. It improves the productivity of design and manufacturing
engineers as well as enhances collaboration between them to reduce cost,
improve quality and time to market”, said Mr. Sameer Kondejkar, Sr. Director
and Head, Geometry Technology Solutions Business at Geometric.
Geometric DFX
supports CAD formats from CATIA V5, Inventor® and others. Geometric DFX comes
prepackaged with around 100 design rules based on global best practices and can
be customized to add organization specific best practices too. The various
manufacturing processes currently supported include machining, casting,
injection molding, and sheet metal fabrication. Geometric DFX will benefit
manufacturing companies in domains such as automotive, consumer durables,
aerospace, high-tech, medical equipment, and contract electronics
manufacturing.
ABOUT GEOMETRIC:
Geometric
(www.geometricglobal.com) is a specialist in the domain of engineering
solutions, services and technologies. Its portfolio of Global Engineering
services, Product Lifecycle Management (PLM) solutions, Embedded System
solutions, and Digital Technology solutions enables companies to formulate,
implement, and execute global engineering and manufacturing strategies aimed at
achieving greater efficiencies in the product realization lifecycle.
Listed on the
Bombay and National stock exchanges in India, the company recorded consolidated
revenues of Rupees 10.20 billion (US Dollars 187.57 million) for the year ended
March 2013. It employs over 4600 people across 13 global delivery locations in
the US, the UK, France, Germany, Romania, India, and China. Geometric was
assessed as CMMI 1.1 Level 5 for its software services and is ISO 9001:2008
certified for engineering operations. The company’s operations are also ISO
27001:2005 certified.
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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
58 |
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.