MIRA
INFORM REPORT
|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT INFORMATICS LIMITED |
|
|
|
|
Registered
Office : |
Block No. 1, 8th Floor, Udyog Bhavan, Sector - 11, Gandhinagar - 382010, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.02.1999 |
|
|
|
|
Com. Reg. No.: |
04-035459 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 185.144 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999GJ1999SGC035459 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG00890B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG5863B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Agency for IT Development |
|
|
|
|
No. of Employees
: |
90 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is set up as a nodal agency for IT development in the state by
the Government of Gujarat. It is an established company having satisfactory
track record. As per Registrar of companies the date of financial statements filed
is shown as March 31st 2013, but the documents related to the same
for the FY13 are not available from any sources. The available financial of 2012 state that the company possesses a
healthy financial profile marked by strong networth along with low gearing
and comfortable capital structure. Management has also reported a significant growth in its sales volume
as well as net profitability during 2012. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of active support from government of Gujarat, the subject can
be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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.
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
|
Name : |
Mr. Samir Mehta |
|
Designation : |
Account Officer |
|
Contact No.: |
91-9099057097 |
|
Date : |
16.05.2014 |
LOCATIONS
|
Registered Office : |
Block No. 1, 8th Floor, Udyog Bhavan, Sector -
11, Gandhinagar - 382010, Gujarat, India |
|
Tel. No.: |
91-79-23256022 |
|
Mobile No.: |
91-9099057097 (Mr. Samir Mehta) |
|
Fax No.: |
91-79-23238925 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.12.2013
|
Name : |
Mr. Girishchandra Murmu |
|
Designation : |
Nominee Director |
|
Address : |
Plot No.11/A, Sec-2, Near Swaminarayan Temple, Gandhinagar - 382002,
Gujarat, India |
|
Date of Birth/Age : |
22.11.1959 |
|
Date of Appointment : |
23.08.2010 |
|
DIN No.: |
00183142 |
|
|
|
|
Name : |
Mr. Syed Jawaid Haider |
|
Designation : |
Director |
|
Date of Birth/Age : |
03.12.1965 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
02879522 |
|
|
|
|
Name : |
Mr. Katresal Rajarao Gururajarao |
|
Designation : |
Managing Director |
|
Address : |
A-002, Ground Floor, Adarsh Rhythm Panduranganagar, B.G. Road,
Bangalore – 560076, Karnataka, India |
|
Date of Birth/Age : |
12.06.1939 |
|
Date of Appointment : |
08.03.2010 |
|
DIN No.: |
03008081 |
|
PAN No.: |
ABPPF1884J |
|
|
|
|
Name : |
Mr. Aparna Subramani |
|
Designation : |
Nominee Director |
|
Address : |
Bunglow No. K-132, Sector-19, Gandhinagar – 382019, Gujarat, India |
|
Date of Birth/Age : |
14.10.1963 |
|
Date of Appointment : |
21.09.2011 |
|
DIN No.: |
03631971 |
|
|
|
|
Name : |
Mr. Akshai Krishanlal Aggarwal |
|
Designation : |
Director |
|
Address : |
Plot No. 839, Sector - 8, Ch Road, Near Church, Gandhinagar, Ahmadabad – 382008, Gujarat, India |
|
Date of Birth/Age : |
16.09.1943 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06781848 |
KEY EXECUTIVES
|
Name : |
Mr. Samir Mehta |
|
Designation : |
Account Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.12.2013
|
Names of Shareholders |
|
No. of Shares |
|
Gujarat State Mineral Development Corporation Limited |
|
1000000 |
|
Saedar Sarovar Narmada Nigam Limited |
|
450000 |
|
Hon’ble Governor of Gujarat |
|
17064393 |
|
Total |
|
18514393 |
As on 30.12.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Government [Central and State] |
92.17 |
|
Government companies |
7.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Agency for IT Development |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
90 (Approximately) |
|
|
|
|
Bankers : |
State Bank of India, Udyog Bhavan, Gandhinagar, Gujarat, India Tel. No.: 91-79-23225490 |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra K Shah and Company Chartered Accountants |
|
Address : |
2 Second Floor, Amee Bela, Opposite Old Gujarat High,
Court Navrangpura, Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
ACVPS6990A |
CAPITAL STRUCTURE
As on 30.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18514393 |
Equity Shares |
Rs.10/- each |
Rs.185.144 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 |
|
185.144 |
185.144 |
|
(b) Reserves & Surplus |
|
616.050 |
476.299 |
|
(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) |
|
801.194 |
661.443 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
94.201 |
108.040 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
94.201 |
108.040 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
5.622 |
6.361 |
|
(c) Other current
liabilities |
|
2253.952 |
2059.417 |
|
(d) Short-term provisions |
|
242.800 |
170.700 |
|
Total Current Liabilities (4) |
|
2502.374 |
2236.478 |
|
|
|
|
|
|
TOTAL |
|
3397.769 |
3005.961 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
97.431 |
97.580 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
274.609 |
288.447 |
|
(c) Deferred tax assets (net) |
|
0.195 |
0.195 |
|
(d) Long-term Loan and Advances |
|
5.518 |
5.536 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
377.753 |
391.758 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
43.706 |
71.927 |
|
(d) Cash and cash
equivalents |
|
478.405 |
9.976 |
|
(e) Short-term loans and
advances |
|
2497.905 |
2532.300 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
3020.016 |
2614.203 |
|
|
|
|
|
|
TOTAL |
|
3397.769 |
3005.961 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
185.144 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
385.641 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
570.785 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
108.039 |
|
|
TOTAL BORROWING |
|
|
108.039 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
678.824 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
98.011 |
|
|
Capital work-in-progress |
|
|
288.447 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.138 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
23.563 |
|
|
Cash & Bank Balances |
|
|
254.685 |
|
|
Other Current Assets |
|
|
51.057 |
|
|
Loans & Advances |
|
|
1465.926 |
|
Total
Current Assets |
|
|
1795.231 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
6.673 |
|
|
Other Current Liabilities |
|
|
1370.234 |
|
|
Provisions |
|
|
126.096 |
|
Total
Current Liabilities |
|
|
1503.003 |
|
|
Net Current Assets |
|
|
292.228 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
678.824 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
76.933 |
71.884 |
67.991 |
|
|
|
Other Income |
196.662 |
121.081 |
107.848 |
|
|
|
TOTAL (A) |
273.595 |
192.965 |
175.839 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
17.154 |
13.755 |
|
|
|
|
|
0.000 |
(0.025) |
15.343 |
|
|
|
Other expenses |
5.385 |
5.840 |
|
|
|
|
TOTAL (B) |
22.539 |
19.570 |
15.343 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
251.056 |
173.395 |
160.496 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
38.405 |
36.958 |
44.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
212.651 |
136.437 |
116.302 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.800 |
0.836 |
0.657 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
211.851 |
135.601 |
115.645 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
72.100 |
44.943 |
39.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
139.751 |
90.658 |
76.468 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.45 |
4.90 |
4.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
51.08 |
46.98 |
43.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
275.37 |
188.64 |
170.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.78 |
4.99 |
6.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.21 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.12 |
0.16 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.17 |
1.19 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
185.144 |
185.144 |
|
Reserves & Surplus |
|
476.299 |
616.050 |
|
Net
worth |
|
661.443 |
801.194 |
|
|
|
|
|
|
long-term borrowings |
|
108.040 |
94.201 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total
borrowings |
|
108.040 |
94.201 |
|
Debt/Equity
ratio |
|
0.163 |
0.118 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
67.991 |
71.884 |
76.933 |
|
|
|
5.726 |
7.024 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
67.991 |
71.884 |
76.933 |
|
Profit |
76.468 |
90.658 |
139.751 |
|
|
112.47% |
126.12% |
181.65% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
No |
|
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 |
Yes |
|
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 |
No |
|
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 |
No |
HIGH COURT OF GUJARAT
SPECIAL CIVIL APPLICATION No. 13671 of 2013
[GROUP 13172-13716]
|
Status : PENDING |
( Converted from : C/ST/13129/2013 ) |
CCIN No : 001021201313671 |
|
Next Listing Date: |
16/06/2014 |
|
Coram |
HONOURABLE MR.JUSTICE PARESH UPADHYAY |
Not Before : |
HONOURABLE MR. JUSTICE B.J.SHETHNA HONOURABLE MR.JUSTICE K.M.THAKER HONOURABLE MR.JUSTICE RAJESH H.SHUKLA |
|
S.NO. |
Name of the
Petitioner |
Advocate On Record |
|
1 |
DASHRATHJI RAMAJI THAKOR |
MR HL RAVAL for: Petitioner(s) |
1|
S.NO. |
Name of the
Respondant |
Advocate On Record |
|
1 |
GUJARAT INFORMATICS LTD |
M/S TRIVEDI & GUPTA for :Respondent(s) |
|
Presented On |
: 13/08/2013 |
Registered On |
: 29/08/2013 |
|
Bench Category |
: - |
District |
: GANDHINAGAR |
|
Case Originated
From |
: THROUGH ADVOCATE |
Listed |
: 15 times |
|
StageName |
: NOTICE & ADJOURNED MATTERS |
||
|
Classification |
SJ - LABOUR - INDUSTRIAL DISPUTE ACT, 1947 - REINSTATEMENT |
||
|
Act |
CONSTITUTION OF INDIA |
||
COMPANY OVERVIEW
Subject is a nodal agency of Government of Gujarat for Promotion
of Information Technology in the State and helping the Government with
Technical advice and support. SUBJECT plays a role of consultant and provides
hardware and software consultancy to various Government Departments/ Boards/
Corporations and helps them in their IT procurement and implementation of IT
Projects. Subject is a Central Purchase Organization of the State Govt. for IT
Products. Since its inception, Subject is gaining significant ground with its
endeavours for computerization of Government departments, training of CIO's,
developing applications.
PERFORMANCE
Subject as a nodal agency of the State Govt. for promotion of Information Technology has been engaged in helping the Government with technical advice and support throughout the year. Since its inception, SUBJECT has worked aggressively in the implementation of e-governance projects in the state. Subject is having a clear objective to promote ICT and accelerate the process of eGovernance in the State.
Subject plays a key role as consultant and is providing hardware consultancy, software consultancy as well as facilitates for training of Government employees for the implementation of eGovernance projects. Subject also helps Government offices by providing rate contracts after negotiating with OEMs for software products and Computer consumables like Printer Cartridges. During the year Subject facilitated many Govt. Departments to implement their major projects like Home Department Integrated Information technology System (HD-IITS) for Home Department, Govt. of Gujarat, ICT@ Schools Projects for Secondary Schools (Phase-II for remaining schools), ICT@schools Project for Primary Schools under SSA Mission (15493 nos. of Primary Schools of the State), Subject has also facilitated BISAG by purchasing equipments for SATCOM and Digital Uplink Earth Station etc. Subject invariably gets Hardware at prices much lower than DGS and D and NISCI.
Subject also facilitated State Election Commission for implementation of online voting system, Social justice and Empowerment Department for development of application software with MIS, Gujarat Vidhan Sabha for Digitization of their Library. Subject has also started the activity of development and maintenance of websites for Government Offices. Subject undertook a time-bound project for Sports, Youth and Cultural Activities Department for design, development and management of a Web Application Khel Mahakumbh-2011. This application was very successful on which nearly 18 lacs players registered for different games. It had 18 modules from village level competition up to State level finals. It had won two awards, one at the zonal level and other at the national level.
The Center of Excellence (COE) at Gandhinagar is providing state of the art Information Technology Training and Support Infrastructure to the Government personnel. This Centre has been empanelled for providing CCC+ training to govt. employees. During the year, 17 Batches of 465 participants have been imparted CCC+ training. Various Technology seminars/sessions have been held for the benefit of Chief Information Officers and other Govt. Employees at COE.
During the year 2011-12, Subject organized and sponsored various events, like IT Summit at Grand Bhagwati, Ahmedabad in association with NASSCOM, 4th GESIA awards 2011 to encourage the local IT entrepreneurs, Annual event of the Mechanical Engineering Student Association to support INGENIUM 2011, Special report on Gujarat IT Initiative in Indian Express magazine, ENVISION 2011-Kadi etc.
Subject in association with NASSCOM sponsored Shri Dewang Mehta Lecture Series-III in which Subject sponsored 3 awards for Rs.1 lac each for the best project in the field of ICT presented by the students of Gujarat Technical University. This effort was very highly appreciated by all in engineering education and it is likely to give a big incentive to students for innovation and development of new ideas.
Subject alongwith DST organized an International Conference on eGovernance and KSS Summit along with CSI at Nirma University, Ahmedabad in which Honble Chief Minister Shri Narendra Modi presented and given the speech on IT initiatives in the State. CSI awarded the Hon. Chief Minister with eRatna Award
Subject sponsored the Associated Chamber of Commerce and Industry of India for their 8th National Summit on egov, The Institute of Electronics and Telecommunication Engineering, Ahmedabad on their 54th IETE Annual Technical Convention, ACMA IT Show 2011, IIT Gandhinagar for their event AMALTHEA 2011, 46th Annual National Convention of CSI and so on like ISA Vision Summit Bangalore, eINDIA event at Mahatma Mandir, GESIA 5th Annual event, SKOCH Consultancy Services and BITA IT Show.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Borrowing from government semi-government bodies |
94.201 |
108.040 |
|
Total |
94.201 |
108.040 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
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 records 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.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.