|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTEGRO TECHNOLOGIES PTE LTD |
|
|
|
|
Registered Office : |
438B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
24.06.2000 |
|
|
|
|
Com. Reg. No.: |
200005556-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the software consultancy |
|
|
|
|
No. of Employees |
90 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub
Source
: CIA
|
REGISTRATION NO. |
: |
200005556-C |
|
COMPANY NAME |
: |
INTEGRO TECHNOLOGIES PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
24/06/2000 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
438B, ALEXANDRA ROAD, 05-11, ALEXANDRA TECHNOPARK, 119968, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
438B ALEXANDRA ROAD #05-11 ALEXANDRA TECHNOPARK, 119968, SINGAPORE. |
|
TEL.NO. |
: |
65-65366438 |
|
FAX.NO. |
: |
65-65366831 |
|
WEB SITE |
: |
WWW.INTEGROSYS.COM |
|
CONTACT PERSON |
: |
SHEKHAR MULLATTI ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
SOFTWARE CONSULTANCY |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
16,886,029.00 ORDINARY SHARE, OF A VALUE OF SGD 5,331,315.16 |
|
|
|
|
|
SALES |
: |
SGD 10,588,207 [2013] |
|
NET WORTH |
: |
SGD 13,525,845 [2013] |
|
|
|
|
|
STAFF STRENGTH |
: |
90 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
HISTORY / BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) software consultancy.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
25/07/2014 |
SGD 5,331,315.16 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
AURIONPRO HOLDINGS PTE. LTD. |
438B, ALEXANDRA ROAD, 05-11, ALEXANDRA TECHNOPARK, 119968, SINGAPORE. |
201331616K |
16,886,029.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
16,886,029.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
|
THAILAND |
INTEGRO TECHNOLOGIES COMPANY LIMITED (THAILAND) |
100.00 |
31/03/2013 |
|
|
|
|
|
|
|
526623U |
MALAYSIA |
INTEGRO TECHNOLOGIES SDN. BHD. |
100.00 |
31/03/2013 |
|
|
|
|
|
|
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
SHEKHAR MULLATTI |
|
Address |
: |
1, JALAN KUALA, 11-01, THE MORNINGSIDE, 239639, SINGAPORE. |
|
IC / PP No |
: |
S275129F |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
01/06/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
AMIT RAMESHCHANDRA SHETH |
|
Address |
: |
G-1, SHRI LAL ASHISH, POINT GARODIA NAGAR, GHATKOPAR (E), MUMBAI, 400077, INDIA. |
|
IC / PP No |
: |
F5945418 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
07/12/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
ZAVERI PARESH CHANDULAL |
|
Address |
: |
3, SIGLAP ROAD, 06-23, MANDARIN GARDENS, 448907, SINGAPORE. |
|
IC / PP No |
: |
F5568499P |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
07/12/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
SHEKHAR MULLATTI |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
NEELI |
|
|
Position |
: |
STAFF |
|
|
|
|
|
|
|
Auditor : S. RENGANATHAN & CO.
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
CHENG LIAN SIANG |
|
|
IC / PP No |
: |
S1519832Z |
|
|
|
|
|
|
|
Address |
: |
7, SIN MING WALK, 20-17, THE GARDENS AT BISHAN, 575577, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
PATHIMA MUNEERA AZMI |
|
|
IC / PP No |
: |
S2715498J |
|
|
|
|
|
|
|
Address |
: |
122, JURONG EAST STREET 13, 02-31, IVORY HEIGHTS, 600122, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
LEGAL CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
|
|
|
|
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject is a service provider and it does not deal with trade suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
|
Services |
: |
SOFTWARE CONSULTANCY
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
90 |
90 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) software consultancy.
The Subject is a high end specialty IT solutions provider for Banks in
Asia-Pacific and beyond.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65366438 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
1 LORONG 2 TOA PAYOH YEOLLOW PAGES BUILDING #5-01 SINGAPORE 319637 |
|
Current Address |
: |
438B ALEXANDRA ROAD #05-11 ALEXANDRA TECHNOPARK, 119968, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other Investigations
we contacted one of the
staff from the Subject and she provided some information.
The Subject had shifted from the address provided.
She refused to disclose its number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.69% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
8.58% |
] |
|
|
|
|
|
|
|
|
|
|
The continuous fall in turnover could be due to the lower demand for the Subject's products / services.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. The Subject's management had generated acceptable return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
152 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is a service oriented company, the Subject does not need to keep stocks. The Subject's debtors ratio was high. The Subject should tighten its credit control and improve its collection period. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.16 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.16 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
25.95 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.14 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the Subject was able to service the interest. The favourable interest cover could indicate that the Subject was making enough profit to pay for the interest accrued. The Subject was lowly geared thus it had a low financial risk. The Subject was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the Subject being a lowly geared company, will be able to compete better than those companies which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject's performance deteriorated over the years with lower turnover and profit. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. The Subject as a lowly geared company, will be more secured compared to those highly geared companies. It has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : FAIR |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
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INDUSTRY ANALYSIS
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INDUSTRY : |
INFORMATION TECHNOLOGY |
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Singapore's infomation communication services industry is well-positioned to tap into the new business opportunities of the digital age. An early mover in infocomm technology, Singapore today ranks as the second most network-ready country in the world and the first in Asia, according to the World Economic Forum's "Global Information Technology Report 2010/2011". The roll out of the Intelligent Nation 2015 Master Plan and the National Broadband Network will further strengthen Singapore's infrastructure network. |
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The Intelligent Nation 2015 masterplan lays out the blueprint for Singapore's infocomm strategies in the digital age, with the creation of some 80,000 jobs and an increase of value-add to SGD 26 billion. Besides, under the Wireless@SG programme initiated by the Infocomm Development Authority of Singapore, free wireless broadband connection is made available at public places till March 31 2013, to encourage usage. |
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More than 80 of the top 100 software and services companies have set up their regional headquarters in Singapore. Many of them, including the top 15 software companies, have regional or Asia Pacific headquarters here. Some of the companies who have set up base in Singapore include Alcatel, Cisco, Crimson Logic, Dell, Hewlett Packard, IBM, Mahindra Satyam, NCS, Oracle, and Tata Consultancy Services. |
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As such, the highly cyclical tech sector has taken a hit in both its financial and share price performance. Moving into 2012, the macroeconomic headwinds will remain strong. Hence tepid growth is expected for the sector, in tandem with easing global economic conditions. Many of the tech companies have customers who are adopting cautious sentiment which increases the risk of order delays and/or pullbacks. |
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This situation is exacerbated by rising cost pressures, as increases in labour wages, raw material costs and higher interest rates, especially in China, have culminated in a margin squeeze on companies. Currency volatility and supply chain disruptions from recent catastrophes have also shrouded the visibility of the tech sector. |
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In general, tech companies have emerged from the last financial maelstrom with stronger balance sheets. This should provide them with better resilience to weather another economic downturn. |
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It is believed that the tech sector still carries good long-term growth potential, given the increasing importance of IT as a business growth driver, continued technological innovation and rising affluence in the region. Stronger growth would likely come from the emerging markets as ample opportunities exist for continued IT penetration. |
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The share prices of most tech stocks have already corrected sharply in the year 2011. Although current valuations do not appear demanding, downside earnings risks exist if the macroeconomic landscape continue to deteriorate sharper than expectations. On the other hand, cyclical plays could also potentially benefit from a stronger rebound if the global economy recover faster-than-expected. The possibility of the first scenario seems more plausible. |
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OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
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CREDIT RISK EVALUATION &
RECOMMENDATION
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PROFIT AND LOSS ACCOUNT
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THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
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INTEGRO TECHNOLOGIES PTE LTD |
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Financial Year End |
2013-03-31 |
2012-03-31 |
2011-03-31 |
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Months |
12 |
12 |
12 |
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Consolidated Account |
GROUP |
GROUP |
GROUP |
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Audited Account |
YES |
YES |
YES |
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Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
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Financial Type |
FULL |
FULL |
FULL |
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Currency |
SGD |
SGD |
SGD |
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TURNOVER |
10,588,207 |
11,036,920 |
11,194,604 |
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---------------- |
---------------- |
---------------- |
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Total Turnover |
10,588,207 |
11,036,920 |
11,194,604 |
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Costs of Goods Sold |
(8,190,112) |
(8,654,425) |
(8,490,805) |
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---------------- |
---------------- |
---------------- |
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Gross Profit |
2,398,095 |
2,382,495 |
2,703,799 |
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---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) FROM OPERATIONS |
1,116,276 |
1,360,542 |
1,054,739 |
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---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) BEFORE TAXATION |
1,116,276 |
1,360,542 |
1,054,739 |
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Taxation |
329,516 |
115,146 |
(11,878) |
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---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) AFTER TAXATION |
1,445,792 |
1,475,688 |
1,042,861 |
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---------------- |
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RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
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As previously reported |
6,727,465 |
5,251,777 |
4,208,916 |
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---------------- |
---------------- |
---------------- |
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As restated |
6,727,465 |
5,251,777 |
4,208,916 |
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---------------- |
---------------- |
---------------- |
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PROFIT AVAILABLE FOR APPROPRIATIONS |
8,173,257 |
6,727,465 |
5,251,777 |
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---------------- |
---------------- |
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RETAINED PROFIT/(LOSS) CARRIED FORWARD |
8,173,257 |
6,727,465 |
5,251,777 |
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============= |
============= |
============= |
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INTEREST EXPENSE (as per notes to P&L) |
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Others |
44,745 |
- |
- |
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---------------- |
---------------- |
---------------- |
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44,745 |
- |
- |
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============= |
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INTEGRO TECHNOLOGIES PTE LTD |
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ASSETS EMPLOYED: |
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FIXED ASSETS |
69,864 |
143,637 |
196,511 |
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Deferred assets |
153,000 |
- |
- |
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---------------- |
---------------- |
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TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
153,000 |
- |
- |
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Computer software |
12,518,972 |
7,461,168 |
6,622,900 |
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---------------- |
---------------- |
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TOTAL INTANGIBLE ASSETS |
12,518,972 |
7,461,168 |
6,622,900 |
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---------------- |
---------------- |
---------------- |
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TOTAL LONG TERM ASSETS |
12,741,836 |
7,604,805 |
6,819,411 |
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Trade debtors |
4,414,725 |
4,645,745 |
6,450,138 |
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Other debtors, deposits & prepayments |
447,119 |
2,174,099 |
2,070,576 |
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Amount due from holding company |
38,090 |
- |
- |
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Amount due from related companies |
767,663 |
1,135,640 |
- |
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Cash & bank balances |
58,328 |
188,938 |
151,577 |
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---------------- |
---------------- |
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TOTAL CURRENT ASSETS |
5,725,925 |
8,144,422 |
8,672,291 |
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---------------- |
---------------- |
---------------- |
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TOTAL ASSET |
18,467,761 |
15,749,227 |
15,491,702 |
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============= |
============= |
============= |
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CURRENT LIABILITIES |
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Trade creditors |
128,274 |
697,154 |
1,157,870 |
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Other creditors & accruals |
2,744,283 |
2,453,012 |
2,222,918 |
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Bank overdraft |
931,959 |
331,863 |
772,048 |
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Short term borrowings/Term loans |
1,000,000 |
- |
- |
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Amounts owing to holding company |
- |
- |
180,500 |
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Amounts owing to related companies |
135,395 |
17,321 |
- |
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Amounts owing to director |
- |
- |
240,000 |
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Provision for taxation |
2,005 |
- |
- |
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---------------- |
---------------- |
---------------- |
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TOTAL CURRENT LIABILITIES |
4,941,916 |
3,499,350 |
4,573,336 |
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---------------- |
---------------- |
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NET CURRENT ASSETS/(LIABILITIES) |
784,009 |
4,645,072 |
4,098,955 |
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TOTAL NET ASSETS |
13,525,845 |
12,249,877 |
10,918,366 |
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============= |
============= |
============= |
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SHARE CAPITAL |
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Ordinary share capital |
5,331,315 |
5,331,315 |
5,331,582 |
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TOTAL SHARE CAPITAL |
5,331,315 |
5,331,315 |
5,331,582 |
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Exchange equalisation/fluctuation reserve |
21,273 |
(7,303) |
1,007 |
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Retained profit/(loss) carried forward |
8,173,257 |
6,727,465 |
5,251,777 |
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---------------- |
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TOTAL RESERVES |
8,194,530 |
6,720,162 |
5,252,784 |
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---------------- |
---------------- |
---------------- |
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SHAREHOLDERS' FUNDS/EQUITY |
13,525,845 |
12,051,477 |
10,584,366 |
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Deferred taxation |
- |
198,400 |
334,000 |
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TOTAL LONG TERM LIABILITIES |
- |
198,400 |
334,000 |
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---------------- |
---------------- |
---------------- |
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13,525,845 |
12,249,877 |
10,918,366 |
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============= |
============= |
============= |
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FINANCIAL RATIO
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INTEGRO TECHNOLOGIES PTE LTD |
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TYPES OF FUNDS |
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Cash |
58,328 |
188,938 |
151,577 |
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Net Liquid Funds |
(873,631) |
(142,925) |
(620,471) |
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Net Liquid Assets |
784,009 |
4,645,072 |
4,098,955 |
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Net Current Assets/(Liabilities) |
784,009 |
4,645,072 |
4,098,955 |
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Net Tangible Assets |
1,006,873 |
4,788,709 |
4,295,466 |
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Net Monetary Assets |
784,009 |
4,446,672 |
3,764,955 |
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BALANCE SHEET ITEMS |
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Total Borrowings |
1,931,959 |
331,863 |
772,048 |
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Total Liabilities |
4,941,916 |
3,697,750 |
4,907,336 |
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Total Assets |
18,467,761 |
15,749,227 |
15,491,702 |
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Net Assets |
13,525,845 |
12,249,877 |
10,918,366 |
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Net Assets Backing |
13,525,845 |
12,051,477 |
10,584,366 |
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Shareholders' Funds |
13,525,845 |
12,051,477 |
10,584,366 |
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Total Share Capital |
5,331,315 |
5,331,315 |
5,331,582 |
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Total Reserves |
8,194,530 |
6,720,162 |
5,252,784 |
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LIQUIDITY (Times) |
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Cash Ratio |
0.01 |
0.05 |
0.03 |
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Liquid Ratio |
1.16 |
2.33 |
1.90 |
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Current Ratio |
1.16 |
2.33 |
1.90 |
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WORKING CAPITAL CONTROL (Days) |
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Stock Ratio |
0 |
0 |
0 |
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Debtors Ratio |
152 |
154 |
210 |
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Creditors Ratio |
6 |
29 |
50 |
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SOLVENCY RATIOS (Times) |
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Gearing Ratio |
0.14 |
0.03 |
0.07 |
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Liabilities Ratio |
0.37 |
0.31 |
0.46 |
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Times Interest Earned Ratio |
25.95 |
0.00 |
0.00 |
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Assets Backing Ratio |
0.19 |
0.90 |
0.81 |
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PERFORMANCE RATIO (%) |
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Operating Profit Margin |
10.54 |
12.33 |
9.42 |
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Net Profit Margin |
13.65 |
13.37 |
9.32 |
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Return On Net Assets |
8.58 |
11.11 |
9.66 |
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Return On Capital Employed |
4.30 |
6.79 |
5.76 |
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Return On Shareholders' Funds/Equity |
10.69 |
12.24 |
9.85 |
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Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
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NOTES TO ACCOUNTS |
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Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
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1 |
Rs.102.04 |
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Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.