|
Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SYNTEL LIMITED |
|
|
|
|
Formerly Known
As : |
SYNTEL ( SYNTEL SOFTWARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 112, SDF IV, Seepz, Andheri (East), Mumbai – 400096, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066730 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1992PLC066730 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS15682C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8305D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Information Technology Services. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 78260000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Syntel Inc, Financial position of the company appears to be sound. Liquidity
position is good. Promoters and Directors are reported as reputed, well experienced and
respectable businessmen. Trade relations are fair. Business is active. Payments terms are
regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and condition. |
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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rajendra |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40470150 |
|
Date : |
08.11.2013 |
LOCATIONS
|
Registered Office : |
Unit No. 112, SDF IV, Seepz, Andheri (East), Mumbai – 400096, |
|
Tel. No.: |
91-22-40470150 |
|
Fax No.: |
91-22-40470408 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located At:
|
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Arvind Shivram Godbole |
|
Designation : |
Whole Time Director |
|
Address : |
3/38, Jai Hanuman Society, |
|
Date of Birth/Age : |
02.05.1957 |
|
Date of Appointment : |
22.09.2008 |
|
DIN No.: |
02363384 |
|
|
|
|
Name : |
Mr. Prashant Narayan Ranade |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
14.11.1952 |
|
Date of Appointment : |
19.03.2010 |
|
DIN No.: |
02968552 |
|
|
|
|
Name : |
Mr. Daniel Michael Moore |
|
Designation : |
Director |
|
Address : |
1974 |
|
Date of Birth/Age : |
12.06.1954 |
|
Date of Appointment : |
20.07.2009 |
|
DIN No.: |
00063127 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh Harilal Solanki |
|
Designation : |
Company Secretary |
|
Address : |
401, Sharad Rajani CHS Ashok Chakravati Road, Ashok Nagar, Kandivali –East,
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
25.07.1976 |
|
PAN No : |
BHRPS2874M |
|
Date of Appointment : |
07.03.2012 |
|
|
|
|
Name : |
Mr. Yatin Sarojkumar Kamat |
|
Designation : |
Manager |
|
Address : |
401, Visava Saraswat, Bank Staff Chs Near Dra Meshwate Temple,
Saraswati Baug, Jogeshwari East, Mumbai-400060, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1976 |
|
Date of Appointment : |
17.06.2011 |
MAJOR SHAREHOLDERS
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Syntel Inc, USA |
|
499974 |
|
Syntel ( |
|
20 |
|
Sudhir Jhunjhunwala |
|
1 |
|
Anil Agarwal |
|
1 |
|
Arvind Godbole |
|
1 |
|
Rakesh Khanna |
|
1 |
|
Rajesh Save |
|
1 |
|
Makarand Sawant |
|
1 |
|
Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology Services. |
||||
|
|
|
||||
|
Products / Services : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountant |
|
Address : |
KPMG House, Kamal Mills Compound, 448, Senapati Bapat Marg, Mumbai –
400013, |
|
Tel. No.: |
91-22-39696000 |
|
PAN No.: |
AAIFB7357B |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
CIN No :
U72900MH2004PTC144460
CIN No:
U30007PN2004PTC129818
CIN No:
U72900PN2010FTC137168 |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5.000 |
5.000 |
|
(b) Reserves & Surplus |
|
19562.000 |
15115.400 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
19567.000 |
15120.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
33.700 |
45.400 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
176.700 |
148.600 |
|
(d) long-term
provisions |
|
613.000 |
480.400 |
|
Total Non-current
Liabilities (3) |
|
823.400 |
674.400 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
2039.700 |
1229.100 |
|
(c) Other
current liabilities |
|
952.700 |
816.100 |
|
(d) Short-term
provisions |
|
230.100 |
124.800 |
|
Total Current
Liabilities (4) |
|
3222.500 |
2170.000 |
|
|
|
|
|
|
TOTAL |
|
23612.900 |
17964.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
781.700 |
487.900 |
|
(ii)
Intangible Assets |
|
78.800 |
120.200 |
|
(iii)
Capital work-in-progress |
|
39.200 |
353.700 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
3154.800 |
2900.500 |
|
(c) Deferred tax assets (net) |
|
301.600 |
166.400 |
|
(d) Long-term Loan and Advances |
|
694.400 |
692.600 |
|
(e) Other
Non-current assets |
|
26.600 |
61.700 |
|
Total Non-Current
Assets |
|
5077.100 |
4783.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
1101.800 |
800.800 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c) Trade
receivables |
|
7056.700 |
4628.500 |
|
(d) Cash
and cash equivalents |
|
8222.100 |
5960.700 |
|
(e)
Short-term loans and advances |
|
1195.800 |
1090.600 |
|
(f) Other
current assets |
|
959.400 |
701.200 |
|
Total
Current Assets |
|
18535.800 |
13181.800 |
|
|
|
|
|
|
TOTAL |
|
23612.900 |
17964.800 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
12058.314 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
12063.314 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
12063.314 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
593.061 |
|
|
Capital work-in-progress |
|
|
1.584 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3565.357 |
|
|
DEFERRED TAX ASSETS |
|
|
85.502 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
2783.544 |
|
|
Cash & Bank Balances |
|
|
5298.917 |
|
|
Other Current Assets |
|
|
389.729 |
|
|
Loans & Advances |
|
|
1102.609 |
|
Total
Current Assets |
|
|
9574.799 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
817.656 |
|
|
Other Current Liabilities |
|
|
181.521 |
|
|
Provisions |
|
|
757.812 |
|
Total
Current Liabilities |
|
|
1756.989 |
|
|
Net Current Assets |
|
|
7817.810 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
12063.314 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19513.700 |
15081.100 |
11068.943 |
|
|
|
Other Income |
1139.700 |
547.200 |
(159.243) |
|
|
|
TOTAL |
20653.400 |
15628.300 |
10909.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Benefits Expenses |
7424.200 |
5942.200 |
3679.276 |
|
|
|
Other Expenses |
7277.200 |
5654.200 |
3489.041 |
|
|
|
TOTAL |
14701.400 |
11596.400 |
7168.317 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
5952.000 |
4031.900 |
3741.383 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5952.000 |
4031.900 |
3741.383 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
399.100 |
344.300 |
395.831 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5552.900 |
3687.600 |
3345.552 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1257.700 |
630.800 |
586.355 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4295.200 |
3056.800 |
2759.197 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
128.642 |
104.424 |
8048.869 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
429.000 |
305.000 |
276.000 |
|
|
|
Transfer to SEZ reinvestment allowance
reserve |
240.000 |
330.000 |
- |
|
|
|
Investment allowance reserve account |
0.000 |
0.000 |
90.000 |
|
|
BALANCE CARRIED
TO THE B/S |
16490.400 |
12864.200 |
10442.066 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
19493.790 |
15069.000 |
11060.227 |
|
|
|
Interest on Deposits |
0.000 |
0.000 |
13.781 |
|
|
TOTAL EARNINGS |
19493.790 |
15069.000 |
11074.008 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
115.070 |
. 100.350 |
97.429 |
|
|
TOTAL IMPORTS |
115.070 |
100.350 |
97.429 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8590.40 |
6113.60 |
5518.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
20.80 |
19.56 |
25.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.46 |
24.45 |
30.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.84 |
26.46 |
32.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.24 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.75 |
6.07 |
5.45 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
OPERATIONS AND PROSPECTS:
The Revenue from operations during the year amounted to Rs. 19513.700
Millions, as compared to Rs. 15081.100 Millions in the previous year. The
profit after tax was Rs 4295.200 Millions as against Rs. 3056.800 Millions in
the previous year, marking an increase of over 40.51%.Barring unforeseen
situations, the Directors are confident of the Company performing to
satisfactory levels in the current year, and is investing in infrastructure for
the services to keep up to the pace of growth.
NOTE:
FIXED ASSETS:
PRESS RELEASE:
SYNTEL BEEFS UP STAFF, CAPEX
FOR REBID DEALS
March 9, 2013
DNA India
Nasdaq-listed
software firm Syntel is preparing for the multi-million dollar rebid
opportunity and large discretionary projects with aggressive hiring and high
capex investment.
Nasdaq-listed
software firm Syntel is preparing for the multi-million dollar rebid
opportunity and large discretionary projects with aggressive hiring and high
capex investment. While Syntel’s founder and chairman Bharat Desai has made it
to Forbes list of richest Indians this year, Syntel’s president and CEO
Prashant Ranade tells Beryl Menezes about what the company does differently to
achieve this distinction.
SYNTEL TO CONTINUE FOCUS ON NORTH AMERICA & EUROPE
April 4, 2013
Financial Chronicle
Nasdaq
listed Syntel plans to continue to focus on North America as well as Europe for
its future growth, despite the two regions grappling economic and financial
crisis over the past few years. It exudes confidence that it will continue to
outgrow the industry in the coming years too, as it had done in the past.
The US-headquartered company is set to further expand its Indian presence.
Besides commencing work on the Phase II of its IT SEZ near Chennai, it also
plans to start construction work at the 100-acre IT Park near Thirunelveli in
southern Tamil Nadu, as part of its focus on Tier II cities.
Of the around $724 million revenue for Syntel in 2012, over 90 per cent of it
came from North America, with another 7 per cent from Europe. The revenue from
the Asian region has been negligible and the company does not seem to be in a
hurry to alter that.
February 4, 2013
SYNTEL: ENHANCE PATIENT ENGAGEMENT WITH DEVICE CONNECTIVITY TO PATIENT
PORTALS
Kunalsen Sawant and Harish Rijhwani,
Syntel
Becker's Hospital Review
The
need to have accurate patient health information for clinical decision-making
can hardly be over-emphasized. This is most evident when a patient is away from
a healthcare facility and hence tracking and aggregating data of his vitals,
lab tests and other physiological parameters becomes a challenge. While this
has now been simplified with the use of a variety of home monitoring devices,
it's the integration of these devices with applications that are accessible to
both the patient and the providers that still present a problem.
This
is where the use of patient portals play an important role. Not only do patient
portals serve as patient engagement tools, they also help providers comply with
critical meaningful use criteria such as providing a means for patients to
access their health information online, or to provide a means for patients to
send secure messages to their care providers electronically.
April 24, 2013
SYNTEL EXPANDS PRESENCE IN INDIA TO MEET GROWING DEMAND FOR GLOBAL IT
SERVICES
Company
breaks ground on new Global Development Campus in Tirunelveli, India
TROY,
Mich., April 24, 2013 – Syntel, Inc. (Nasdaq: SYNT), a global information
technology services and Knowledge Process Outsourcing (KPO) firm, today broke
ground on a new Global Development Campus (GDC) in Tirunelveli, a city in the
South Indian state of Tamil Nadu.
Syntel's Tirunelveli campus represents a significant expansion of the Company's
facilities in India, and reinforces Syntel's commitment to expanding its
infrastructure through a campus-based strategy.
The first phase of the Tirunelveli campus will create 250,000 square feet of
work space with capacity for more than 2,500 employees. It will include a
software development block with a dedicated security block, dining facilities
and a welcome center.
The new facility is being constructed in multiple phases on a 100-acre plot of
land in a tax-free Special Economic Zone (SEZ) and is scheduled to be completed
within two years.
Designed to comply with LEED Gold standards, the Tirunelveli campus will
incorporate sustainable elements including an optimal use of natural light as
well as an on-premises wind and solar farm for generating renewable energy. The
facilities have also been designed to enable Syntel staff to create an optimal
work/life balance. Employee-friendly features include multi-level terraces,
internal courts with green spaces, a central courtyard and dedicated areas for
an amphitheater, sports fields, and a yoga and meditation center.
"We are extremely excited to begin construction on the new Tirunelveli
campus, which has been designed with both our clients and employees in
mind," said Prashant Ranade, Syntel CEO and President. "The campus is
highly scalable and will give us additional flexibility to meet the growing demand
for globally delivered IT services."
"We are also grateful for the support of the Government of Tamil Nadu and
NASSCOM, both of which have been indispensible during the planning
process," said Ranade.
U.S.-owned and operated Syntel has made significant investments in its
infrastructure over the past several years, expanding its capacity in order to
stay ahead of client demands. In addition to the new development in
Tirunelveli, Syntel has also expanded its campuses in Pune and Chennai.
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. 62.73 |
|
|
1 |
Rs. 100.92 |
|
Euro |
1 |
Rs. 84.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
68 |
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.