MIRA INFORM REPORT
|
Report Date : |
18.04.2014 |
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) : |
31.03.2013 |
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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. 422.694
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
: |
Subject is in the business of providing IT Products
Solution and Services (Hardware and Software) for Turnkey Projects and
Customized Sales and provides Facility Management Services, Annual Maintenance
Contract Services and Behavior and Technical training in Information and
Technology and also undertakes IT projects from Government bodies under BOO /
BOOT basis. |
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|
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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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 20600000 |
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Status : |
Good |
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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 fine track record. The rating reflects Trimax’s long track record in system integration and
networking services marked by diversified customer base, healthy financial
risk profile and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. |
|
Date |
16.12.2013 |
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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. |
|
Date |
16.12.2013 |
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 Manager |
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Contact No.: |
91-22-40681001 |
|
Date : |
17.04.2014 |
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/ 40681001 |
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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/ 40681002 |
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E-Mail : |
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Website : |
http://www.trimax.in |
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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 – 400034, Maharashtra, India |
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Tel. No.: |
91-22-23526464/
23526151/ 23526151/ 23526152 |
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Branch Offices : |
Located At: · Ahmedabad · Bangalore · Chandigarh · Coimbatore · Dehradun · Delhi · Gurgaon · Jaipur · Jammu · Kolkata · Ludhiana · Lucknow · Patna |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Suryaprakash Sohanlal Madrecha |
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Designation : |
Chairman cum 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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Date of Appointment : |
01.04.2013 |
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PAN No.: |
AAHPM4142J |
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DIN No.: |
00232283 |
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Name : |
Mr. Chandra Prakash Sohanlal Madrecha |
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Designation : |
Joint 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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Date of Appointment : |
01.04.2013 |
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PAN No.: |
AAGPM3459H |
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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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Date of Appointment : |
04.04.2009 |
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DIN No.: |
02408616 |
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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 : |
M.A. |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
00936696 |
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Name : |
Mr. Charanpreet Singh |
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Designation : |
Director |
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Address : |
No. 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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Date of Appointment : |
14.06.2011 |
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DIN No.: |
01104258 |
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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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Date of Appointment : |
14.06.2011 |
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DIN No.: |
00169907 |
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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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Date of Appointment : |
14.06.2011 |
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DIN No.: |
00145984 |
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 Manager |
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|
Name : |
Mr. Nandkishor Desai |
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Designation : |
Head - Transport |
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Name : |
Mr. Venugopal Ramanathan |
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Designation : |
Sales Head - Enterprise |
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Name : |
Mr. Kasichainula Suryanarayan |
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Designation : |
Vice President and Business Head |
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Name : |
Mr. Jyotish Kumar Ghosh |
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Designation : |
Executive Vice President and Head - Business Development and Channels |
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Name : |
Mr. Ravi Agarwal |
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Designation : |
Executive Vice President and Head - Business Development and Channels |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Standard Fiscal Markets Private Limited, India |
7800000 |
|
Blend Financial Services Limited, India |
50000 |
|
Aditya Birla Private Equity Trust, India |
4015024 |
|
Reena Chandraprakash Madrecha |
219600 |
|
Surya Prakash Madrecha |
2368200 |
|
Meena Madrecha |
228800 |
|
Chandra Prakash Madrecha |
2720000 |
|
Standard Fiscal Markets Private Limited, India |
1701000 |
|
Shrey Technologies Private Limited, India |
7651800 |
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Pratik Technologies Private Limited, India |
7309200 |
|
Sunil Sohanlal Madrecha |
1000 |
|
Surya Prakash Sohanlal Madrecha |
200 |
|
Chandra Prakash Sohanlal Madrecha |
200 |
|
Banyantree Growth Capital L.L.C., India |
3829759 |
|
ZP II Trimax Limited, Mauritius |
2512832 |
|
ZP India Advisory Private Limited, India |
841088 |
|
Zephyr Peacock India Fund III Limited, India |
712834 |
|
IL and FS Trust Company Limited |
307865 |
|
Total |
42269402 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
16.69 |
|
Bodies corporate |
70.21 |
|
Directors or relatives of Directors |
13.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of providing IT Products
Solution and Services (Hardware and Software) for Turnkey Projects and
Customized Sales and provides Facility Management Services, Annual Maintenance
Contract Services and Behavior and Technical training in Information and
Technology and also undertakes IT projects from Government bodies under BOO /
BOOT basis. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· Oriental Bank of Commerce, Large Corporate Branch, 181 - A, Maker Tower 'E', Cuffe Parade, Mumbai - 400005, Maharashtra, India · Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing Mills, Compound, Pandurang Budhkar Marg, Worli,, Mumbai - 400025, Maharashtra, India · The Hongkong And Shanghai Banking Corporation Limited, 52/60, Mahatama Gandhi Road, Fort, Mumbai - 400057, Maharashtra, India · Corporation Bank, 21, Dalal Street, Fort, Mumbai - 400023, Maharashtra, India · DBS Bank Limited, Upper Ground Floor, Birla Tower, 25 Barakhamba Road, New Delhi – 110001, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai – 400021, Maharashtra, India |
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·
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Hewlett Packard Financial Services (India) Private Limited, 20th Floor, Nirmal, Nariman Point, Mumbai - 400021, Maharashtra, 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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E-Mail : |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFH2010F |
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Subsidiary company: |
· Trimax Managed Services Limited CIN No.: U74999MH2011PLC211910 · Trimax Datacenter Services Limited CIN No.: U72200MH2008PLC184708 · Resilient Softech Private Limited CIN No.: U72200MH2000PTC125487 · Trimax IT Infrastructure and Services Pte Limited (Singapore) |
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|
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Pratik Technologies Private Limited CIN No.: U30000MH2006PTC159087 · Shrey Technologies Private Limited CIN No.: U72100MH2006PTC159139 · Standard Fiscal Markets Private Limited CIN No.: U67120MH2008PTC185570 · SMLE Solutions Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
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 |
|
|
|
|
|
|
42,269,402 |
Equity Shares |
Rs.10/- each |
Rs. 422.694 Millions |
|
|
|
|
|
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 |
422.694 |
410.445 |
173.917 |
|
(b) Reserves & Surplus |
4727.709 |
3409.602 |
1680.199 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5150.403 |
3820.047 |
1854.116 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1226.734 |
974.777 |
912.585 |
|
(b) Deferred tax liabilities (Net) |
214.781 |
159.274 |
92.300 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
21.352 |
13.327 |
7.856 |
|
Total Non-current
Liabilities (3) |
1462.867 |
1147.378 |
1012.741 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1219.370 |
910.565 |
617.385 |
|
(b) Trade
payables |
1748.935 |
1413.608 |
621.257 |
|
(c) Other
current liabilities |
630.508 |
431.024 |
453.336 |
|
(d) Short-term
provisions |
22.344 |
59.809 |
72.990 |
|
Total Current
Liabilities (4) |
3621.157 |
2815.006 |
1764.968 |
|
|
|
|
|
|
TOTAL |
10234.427 |
7782.431 |
4631.825 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1552.798 |
769.214 |
509.915 |
|
(ii)
Intangible Assets |
106.262 |
100.006 |
57.814 |
|
(iii)
Capital work-in-progress |
661.121 |
381.062 |
321.337 |
|
(iv)
Intangible assets under development |
58.785 |
50.153 |
52.030 |
|
(b) Non-current Investments |
212.032 |
206.782 |
203.674 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1111.639 |
888.081 |
479.392 |
|
(e) Other
Non-current assets |
24.804 |
32.870 |
31.255 |
|
Total Non-Current
Assets |
3727.441 |
2428.168 |
1655.417 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
470.204 |
453.122 |
333.610 |
|
(c) Trade
receivables |
3759.987 |
2822.702 |
1775.412 |
|
(d) Cash
and cash equivalents |
175.049 |
991.565 |
188.511 |
|
(e)
Short-term loans and advances |
2032.649 |
1053.775 |
654.060 |
|
(f) Other
current assets |
69.097 |
33.099 |
24.815 |
|
Total
Current Assets |
6506.986 |
5354.263 |
2976.408 |
|
|
|
|
|
|
TOTAL |
10234.427 |
7782.431 |
4631.825 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9983.093 |
7522.462 |
5274.843 |
|
|
|
Other Income |
81.027 |
75.790 |
59.077 |
|
|
|
TOTAL (A) |
10064.120 |
7598.252 |
5333.920 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
6720.490 |
5068.831 |
3628.043 |
|
|
|
Employee benefit expense |
(13.645) |
(121.489) |
(116.667) |
|
|
|
Other expenses |
489.736 |
398.701 |
254.906 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
710.009 |
474.443 |
338.775 |
|
|
|
TOTAL (B) |
7906.590 |
5820.486 |
4105.057 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
2157.530 |
1777.766 |
1228.863 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
370.624 |
346.052 |
195.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1786.906 |
1431.714 |
1033.826 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
241.218 |
203.705 |
106.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1545.688 |
1228.009 |
927.726 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
505.507 |
405.474 |
262.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1040.181 |
822.535 |
665.719 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Software |
0.000 |
22.900 |
178.840 |
|
|
TOTAL EARNINGS |
0.000 |
22.900 |
178.840 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
24.80 |
21.73 |
21.96 |
|
|
|
- Diluted |
24.80 |
21.73 |
17.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.34 |
10.83 |
12.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.48 |
16.32 |
17.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.62 |
17.19 |
22.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.32 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47 |
0.49 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
1.90 |
1.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
173.917 |
410.445 |
422.694 |
|
Reserves & Surplus |
1680.199 |
3409.602 |
4727.709 |
|
Net
worth |
1854.116 |
3820.047 |
5150.403 |
|
|
|
|
|
|
long-term borrowings |
912.585 |
974.777 |
1226.734 |
|
Short term borrowings |
617.385 |
910.565 |
1219.370 |
|
Total
borrowings |
1529.970 |
1885.342 |
2446.104 |
|
Debt/Equity
ratio |
0.825 |
0.494 |
0.475 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5274.843 |
7522.462 |
9983.093 |
|
|
|
42.610 |
32.710 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5274.843 |
7522.462 |
9983.093 |
|
Profit |
665.719 |
822.535 |
1040.181 |
|
|
12.62% |
10.93% |
10.42% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
292.237 |
176.386 |
106.829 |
|
|
|
|
|
|
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10481643 |
11/02/2014 |
75,000,000.00 |
CORPORATION BANK |
21, DALAL STREET, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B98109606 |
|
2 |
10480193 |
25/01/2014 |
250,000,000.00 |
CANARA BANK |
SPECIALIZED PRIME CORPORATE BRANCH MUMBAI FORT, 2 |
B97432157 |
|
3 |
10462029 |
25/11/2013 |
500,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE BRANCH, 181 - A, MAKER TOWER 'E', |
B90263427 |
|
4 |
10457777 |
11/10/2013 |
193,000,000.00 |
AXIS BANK LIMITED |
AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS, CO |
B88614409 |
|
5 |
10452915 |
30/09/2013 * |
600,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, WORLD TRADE CENTRE, CU |
B87446712 |
|
6 |
10470800 |
02/08/2013 |
350,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH, VARMA CHAMBERS, 2ND FLOOR, HOMJI STREET, MUMBAI - 400001, MAHARASHTRA, INDIA |
B88194824 |
|
7 |
10382100 |
10/08/2013 * |
5,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
B82939414 |
|
8 |
10330963 |
21/09/2013 * |
572,000,000.00 |
DBS BANK LTD. |
UPPER GROUND FLOOR, BIRLA TOWER,, 25 BARAKHAMBA R |
B89552889 |
|
9 |
10335087 |
21/09/2013 * |
572,000,000.00 |
DBS BANK LTD. |
UPPER GROUND FLOOR, BIRLA TOWER, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B89552665 |
|
10 |
10303691 |
01/09/2011 |
23,055,233.00 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR, BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
B19392075 |
|
11 |
10294672 |
01/07/2011 |
5,490,778.00 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR, BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
B16000556 |
|
12 |
10286337 |
01/05/2011 |
8,444,746.00 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR, BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
B12358446 |
|
13 |
10285610 |
25/03/2011 |
14,935,287.00 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR, BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
B12359139 |
|
14 |
10265096 |
11/01/2011 |
160,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, THE ARCADE, |
B04735627 |
|
15 |
10255701 |
11/10/2010 |
127,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A99453953 |
|
16 |
10232841 |
10/08/2010 |
5,591,540.00 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
2ND FLOOR, BRIGADE SOUTH PARADE, 10, M.G. ROAD, |
A91021063 |
|
17 |
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 |
|
18 |
10187674 |
03/12/2009 |
240,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A74123944 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances, others |
16.380 |
23.660 |
|
Total |
16.380 |
23.660 |
GENERAL INFORMATION
ABOUT COMPANY
The Company is in the business of providing IT Products Solution and Services (Hardware and Software) for Turnkey Projects and Customized Sales. It also provides Facility Management Services, Annual Maintenance Contract Services and Behavior and Technical training in Information and Technology. The company also undertakes IT projects from Government bodies under BOO / BOOT basis. It has extended its business presence to the dynamic space of Call Centers and BPO's by providing the complete IT Infrastructure Facility Management Service and Products. The Company operates from Head Office in Mumbai and 12 Regional Offices in India, with service and support facilities across the country.
OVERVIEW
The Company is one of the few IT companies in India that provide data centre services, cloud computing services, IT infrastructure services and solutions, application services and turnkey solutions coupled with on-site support across India.
THEIR SERVICES
The Company offers a comprehensive range of IT services divided into Enterprise Solutions and Managed IT Services. Enterprise solutions include customised solutions such as IT infrastructure services, network infrastructure management and software/application services. Managed IT Services include system integration, MNS, FMS, RIM, data centre services, cloud services and industry specific solutions and/or sector specific solutions like transport solutions, BFSI solutions, etc.
A. Enterprise
Solutions
Enterprise Solutions business is the Company's largest income source. The Company provides these solutions separately as customised solutions and also integrates these solutions to create tailored turnkey solutions for its customers.
a) Compute
Infrastructure Solutions
It includes the supply and installation of de sktop and laptop computers, servers, operating systems and commercial off-the-shelf software, as well as data storage solutions. As an authorised hardware and software reseller, the Company supply hardware such as desktop and laptop computers and servers from major hardware and networking OEMs, commercial off-the-shelf software and storage solutions from major software OEMs. The Company installs and maintains hardware and software as a customised service and also performs comprehensive turnkey solutions on hardware and software platforms and applications for its customers.
b) Network
Infrastructure Solutions
The IP traffic growth in India is fuelled, in part, by new media applications and customer demand for more interactivity, personalisation, mobility and video. Network infrastructure solutions include networking and infrastructure components such as routers, switches, firewalls, IPS/IDS, UPS, DG sets, precision AC components,uninterrupted power supply solutions and fire suppression systems.
c) Software Solutions
Software solutions include customised software and business applications that enhance customers' ability to operate their businesses. The Company's proprietary software products are developed to provide integrated solutions that reflect the needs of the Company's customers.
The Company provides software development services using industry standard proprietary and open source platforms. They have developed customised applications for their customers in the areas of ETIMs and online reservations systems, integrated excise management, tax filing and project management tools.
B. Managed IT
Services
Managed IT Services business is the Company's fastest growing revenue source. Managed IT Services include any service that is delivered centrally from one location, such as from their NOC, data centre premises or through cloud computing services or where their employees are providing on-site or off-site operational support. Managed IT Services are typically delivered under a service level agreement and in situations where payments are made at pre-defined intervals or on a per transaction basis.
The Company has provided bus-ticketing related Managed IT Services for a number of state-owned transport companies such as the Maharashtra Road Transport corporate (the MSRTC Project), the Brihanmumbai Electric Supply and Transport Undertaking and for the Rajashtan State Road Transport Corporation.
a) FMS
FMS are single-source solutions provided to customers seeking customised facility management and business support services. The Company offers to its customers the following FMS: (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.
b) Remote
Infrastructure Management Service (RIMS)
Remote Infrastructure Management Service encompasses the full lifecycle of IT services, ranging from consulting and design, integration and customization to 24x7x365 management through onsite and offshore delivery models. RIMS Service offerings include:
· Consulting and design, integration and customisation, management of IT Services
· 24x7 operational monitoring
· Single window that caters to all IT infrastructure needs
· SLA based service management
· Improved asset utilization
c) MNS
MNS are one-stop-shop services designed to meet their customers' need for effective and reliable network services on an operational expense basis. The Company supply, configure and maintain all necessary network equipment to provide its customers with last-mile connectivity to enable access to BSNL bandwidth. The Company also monitors and manages equipment and the BSNL bandwidth service on a 24x7 basis. MNS is designed to provide BSNL customers with a MPLS-based network that connects multiple offices, provides internet services on a 99.5% uptime basis and provides a timely response for any problems within 4 hours to any location within India.
· MNS s ervice offerings include:
· End-to-end WAN solutions
· Data Network Infrastructure
· Point-to-Point leased circuits
· Managed Lease Line Network (MLLN)
· Multi-Protocol Label Switching (MPLS), VPN
· Internet Leased Circuit, IP VPN
d) Data centre
services
A data centre is a centralised 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.
The Company has developed and currently operates a state-of-the-art, Tier-III compliant data centre at ITI's premises in Bangalore, which is a key IT hub in India and is in close proximity to the interconnection points for telecommunications fiber routes and power sources.
The ITI data centre provides to the customers with guaranteed system uptime, secure storage for confidential information, simultaneous access for multiple users across multiple locations, large storage capacity and a reduction in their cost of operations. The Company provides a secure environment for its customers' data by ensuring perimeter security, network security and professional certifications of employees, who manage the data centre and processes.
e) Cloud computing
Cloud computing is a style of computing in which dynamically scalable and often virtualised resources are provided as a service over the internet. It includes the following three type of cloud computing:-
Infrastructure as a service (IaaS):- IaaS involves the delivery of memory, storage and systems software.
Platform as a service (PaaS):- PaaS provides virtualised servers on which a user can run programs, or develop new ones, without the need to use resources on the maintenance of operating systems and server hardware.
Software as a service (SaaS):- SaaS allows users to access software over the internet through software that is developed and hosted by the software provider.
The users are, therefore, not required to physically install any software on their computers. IaaS and SaaS services are commonly charged by usage and capacity requirements and can be changed depending on the customer's needs.
The services include:
· ClApp - Software as a Service [SaaS] platform
· Infrastructure as a Service [IaaS]
· Hosted Messaging and Collaboration Services
· Video Conferencing Services
SaaS [ClApp]
The Company and NEC have jointly developed ClApp', an on-demand' cloud aggregation platform offering integrated business applications covering various business functions. The applications include CRM, eLeave, eClaims, Accounting, HRMS, Inventory, Point of Sale, Video Conferencing and more being added.
IaaS
Cloud Infrastructure Platform is specially designed for realworld IT delivery and it allows users to access and utilise compute resources - CPU, memory and storage over the internet on demand. The services include:
COMPUTE ON DEMAND
Compute on Demand provides pre-packaged compute instances which include virtual compute like processing power, RAM, storage capacity, managed security services like firewall and IPS along with options of operating systems, internet data transfer along with end-to-end proactive monitoring and management
VIRTUAL DESKTOP
Hosted Virtualized Desktop offers benefits like simplified and standardised desktop support, greater consistency and control, better security and compliance. The reduction in maintenance and support costs, alone can make it worthwhile to adopt. The Virtual Desktop services are delivered over the internet cloud, hosted and maintained in Tier III Trimax Data Centre.
Hosted Messaging and
Collaboration Services
Hosted Messaging and Collaboration Service, powered by Microsoft Exchange helps to give employees access to feature rich emails and collaboration data anywhere, anytime. Email infrastructure hosted at Company's Tier III state-of-the-art Data Centre is aligned to industry standards, ensuring security and management of information.
Service offerings include:
· Hosted Exchange Service
· Hosted Share Point Service
· Hosted Lync Service
· Video Conferencing Services
Trimax Managed Video Conferencing is an enterprise-class high definition [HD] solution that enables to communicate and collaborate without the need of a face-to-face meeting. It is a highly secure hosted service that allows connecting multiple video systems into a single video conference, without the need to purchase and manage expensive bridging equipments. It also allows to collaborate and to be a part of the conference from disparate devices like smart phones, ipads and personal laptops/desktops.
The Company is uniquely qualified to deliver secure intercompany conferencing connectivity for enterprise and service provider IP networks. The Company's services include dynamic security policy and closed user groups, encrypted meeting capabilities and scalable solution based on varying needs.
The service offers backend infrastructure e.g. MCU (Multi Conferencing Unit) required for multi-party conferencing, placed and managed in the Tier III Data Centre, on a shared model, thereby reducing the total cost of ownership of the end customer.
C. Sector Specific
Solutions
I. Transport
The Company extends its expertise in end-to-end solution deployment to the transport industry by designing and developing smart applications like e-ticketing, online reservation system, fleet management, application hosting, laying network connectivity between transport hubs and supplying and integrating hardware, including electronic ticketing issuing machines.
II. BFSI
The Compa
ny offers end-to-end integrated solutions for banks, insurance and financial services companies encompassing the application, the infrastructure required to implement, run and manage it on a private or public cloud as well as on-premise along with the Managed Services to support and maintain the Solution, Network and Infrastructure.
III. Telecom
The Company is the Managed Network Services partner for BSNL and currently service their customers at more than 600 locations with an SLA of reaching the customer within 4 hours. The Company has proven expertise in the Telecom Sector and has now helped to scale-up the services to provide a sell-through' model for Telcos.
Under the TCIL partnership, The Company offers various services to its customers, by virtue of being empanelled with TCIL. The services include:
Network and Security Services Managed Network Services, Always On Network Services, RF Services, IPV6 services, WAN Optimisation, NOC/SOC services, Contact Centre Services, Security and Surveillance
Data Centre and Cloud Services Co-location services, on-demand compute, storage services, data protection services, disaster recovery services, CRM on Cloud, HRM on cloud
Collaboration Services Video Conferencing services, Messaging and Collaboration
Business Productivity Services Managed Training Services, Project Portfolio Management, Document Management, Telecom Expense Management
FIXED ASSETS
Tangible assets
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
52 |
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.