MIRA
INFORM REPORT
|
Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED DIGITAL SERVICES LIMITED |
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Registered
Office : |
Premises No. 13A, 13th Floor, Earnest House, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.02.1995 |
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Com. Reg. No.: |
11-085488 |
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Capital Investment
/ Paid-up Capital : |
Rs.230.900
Millions |
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CIN No.: [Company Identification
No.] |
L72200MH1995PLC085488 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on The Stock Exchanges. |
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Line of Business
: |
Subject is a systems integrator and IT infrastructure services
provider. |
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No. of Employees
: |
Information denied by the management.
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RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile marked
by stretched liquidity position and declining in sales turnover of the
company during financial year 2014. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term cash credit : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based working capital limits: A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
December 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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE. [91-22-66816681]
LOCATIONS
|
Registered Office : |
Premises No. 13A, 13th Floor, Earnest House, NCPA Road,
Block III, Nariman Point, Mumbai-400021, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office 1 : |
Allied Digital House, A-4, Sector 1, Millennium Business Park, MIDC,
Mahape, New Mumbai-400710, Maharashtra, India |
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Tel. No.: |
91-22-66816681 |
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Fax No.: |
91-22-27784968 |
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E-Mail : |
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Corporate Office 2 : |
81, Harchandrai House, 5th Floor, Maharashi Karve Road, Marine Lines, Mumbai – 400 002, Maharashtra, India |
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Tel. No.: |
91-22-66816681 |
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Fax No.: |
91-22-22064170 |
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Branches Offices: |
Located at South · Bangalore · Chennai · Cochin · Hyderabad West · Mumbai · Ahmedabad · Nagpur · Pune North · Jaipur · Lucknow · New Delhi Central · Indore East · Kolkata |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Nitin D. Shah |
|
Designation : |
Chairman cum Managing Director |
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Name : |
Mr. Prakash D. Shah |
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Designation : |
Executive Director [Commercial] |
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Name : |
Mr. Paresh Shah |
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Designation : |
Executive Director and Chief Executive Office |
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Name : |
Prof. Venugopal Iyengar |
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Designation : |
Independent Director |
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Name : |
Dr. Shrikant Parikh |
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Designation : |
Independent Director |
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Name : |
Dr. Roop Kishan Dave |
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Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Ravindra Joshi |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
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|
20120578 |
43.56 |
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|
187150 |
0.41 |
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|
0 |
0.00 |
|
|
20307728 |
43.97 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
20307728 |
43.97 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
1368642 |
2.96 |
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|
1368642 |
2.96 |
|
|
|
|
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|
3586321 |
7.76 |
|
|
|
|
|
|
11460317 |
24.81 |
|
|
6531399 |
14.14 |
|
|
2932320 |
6.35 |
|
|
444451 |
0.96 |
|
|
1490000 |
3.23 |
|
|
35250 |
0.08 |
|
|
839038 |
1.82 |
|
|
123581 |
0.27 |
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|
24510357 |
53.07 |
|
Total Public shareholding (B) |
25878999 |
56.03 |
|
Total (A)+(B) |
46186727 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
46186727 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Sl.No. |
Name of the
Shareholder |
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
|
|
1,25,96,364 |
27.27 |
|
2 |
Prakash Dhanji Shah |
63,46,214 |
13.74 |
|
3 |
Tejal Prakash Shah |
11,76,000 |
2.55 |
|
4 |
Vivil Investments Private Limited |
1,87,150 |
0.41 |
|
5 |
Dhara Shah |
500 |
0.00 |
|
6 |
Nehal Shah |
500 |
0.00 |
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7 |
Ramesh Manilal Shah |
500 |
0.00 |
|
8 |
Rohan Shah |
500 |
0.00 |
|
|
Total |
2,03,07,728 |
43.97 |
(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total
No. of Shares |
|
|
1 |
EN Pointe Technologies Sales Inc |
1490000 |
3.23 |
|
|
2 |
Intel Corporation |
1333000 |
2.89 |
|
|
3 |
Bennett Coleman and Company Limited |
764464 |
1.66 |
|
|
4 |
Suresh Avyodya Mahadevan |
520000 |
1.13 |
|
|
5 |
KL Gopalaswamy |
857528 |
1.86 |
|
|
|
Total |
4964992 |
10.75 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a systems integrator and IT infrastructure services
provider. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
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Bankers : |
·
State Bank of India ·
Standard Chartered Bank ·
Barclays Bank |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
K.M. Kapadia and Associates Chartered Accountants |
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Subsidiaries |
· Allied Digital Services LLC (formerly known as EN Pointe Global Services LLC) · Allied Digital INC · Allied Digital Singapore Pte Limited · Allied Digital Asia Pacific Pty Limited · Digicomp Complete Solutions Limited · En Pointe Technologies India Private Limited · Allied-eCop Surveillance Private Limited |
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Associates: |
· Assetlite Equipment India Private Limited · Abhirati Properties Private Limited · The Gateways · Allied Digital Services (UK) Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 230.900 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60000000 |
Equity Shares |
Rs.5/- each |
Rs.300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
46186727 |
Equity Shares |
Rs.5/- each |
Rs.230.934
Millions |
NOTE:
RECONCILIATION OF THE
NUMBER OF SHARES AND AMOUNT OUTSTANDING AT THE BEGINNING AND AT THE END OF THE
REPORTING PERIOD:
|
Equity Shares
With Voting Rights |
|||||
|
Year ended March
31st, 2013 |
|||||
|
Particular |
Opening Balance |
ESOP |
Conversion |
Buy Back |
Closing Balance |
|
Number of shares |
46186727 |
-- |
- |
-- |
46186727 |
|
Rs. in Millions |
230.934 |
-- |
10.00 |
-- |
230.934 |
Rights, Preferences and restrictions related to equity shares
The company has only one class of equity shares having par value of Rs.5 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
Details of shares held by each shareholder holding more than 5% shares:
|
Name of
Shareholder |
As on 31.03.2013 |
|
|
|
No. of Shares Held |
% of Holding |
|
Nitin Dhanji
Shah |
12476954 |
27.01 |
|
Prakash Dhanji
Shah |
6346214 |
13.74 |
The Company has two Stock Options Plans which are summarized as under:
Stock Option Scheme (2007) Loyalty Grant
“Under this scheme, the Company had granted 63,300 Options @ Rs.10/- each to the eligible employees.
Out of the above mentioned grant of 63,300 options,50,436 Options were exercised by the eligible employees in the Financial Year 2008-09 and balance Options were lapsed.
Stock Option Scheme (2007) Growth Grant
“Under this scheme, the Company had granted 4,30,300 Options (pre-split of Company’s Equity Shares) @ Rs. 95/- each to the eligible employees which were to be exercised within four years from the date of the grant.
Out of the above, during the financial year 2010-2011, 1,03,850 Options (post - split of Company’s Equity Shares
from the face vale of Rs.10/- to Rs.5/-each) were exercised by the eligible employees.
The summary of the Stock Options exercised by the eligible employees during the year under review are as under
|
Particular |
As on 31.03.2013 Rs. in Millions |
|
Opening Outstanding option |
-- |
|
Granted during the year |
-- |
|
Exercised during the year (Post - split) |
-- |
|
Forfeited/lapsed during the year (Post - split) |
-- |
|
Closing Outstanding option |
-- |
Stock Option Scheme (2010)
The Company by a Special Resolution passed at Annual General Meeting held on September 29th 2010 approved the Employee Stock Option Scheme under section 79A of the companies act 1956 to be read along with SEBI (Employee Stock Option and Employee Stock Purchase Scheme) Guidelines, 1999 whereby 30,00,000 options convertible into Equity Shares of Rs.5/- each to be granted to eligible employees of the Company. This stock option scheme is titled as ‘”ESOP 2010”. Out of the same 4,27,500 options have been granted during the year.
|
Particular |
As on 31.03.2013 Rs. in Millions |
|
Opening Outstanding option |
272500 |
|
Employee Stock Option Scheme announced during the Year |
-- |
|
Granted during the year |
60000 |
|
Exercised during the year (Post - split) |
-- |
|
Forfeited/lapsed during the year (Post - split) |
-- |
|
Closing Outstanding option |
2512500 |
Issue of Shares other than Cash
Details of Shares allotted as fully paid up by way of bonus shares before March 31st, 2013
The Company allotted 13,22,300 equity shares of Rs.10 each as fully paid-up bonus shares by capitalisation of reserves in 1999-2000
The Company allotted 71,05,605 equity shares of Rs.10 each as fully paid-up bonus shares by capitalisation of reserves in 2006-2007
Buy- Back of Equity
Shares
The Board of Directors of the Company in their meeting held on February 18th, 2011 had resolved to buyback (“Buyback”) its fully paid-up equity shares of the face value of Rs.5/- each (Equity Shares) from the existing Equity Share owners of the Company, other than Promoters of the Company. This Buy back was to be made from the stock exchange in accordance with the provisions of Sections 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956 (“the Act”) and Securities and Exchange Board of India (Buy Back of Securities) Regulation, 1998 (“the Regulation”) and the relevant provisions of Memorandum of Association and Articles of Association of the Company. The maximum price at which this buy back was to be executed was not to exceed Rs.140/- per Equity Share (“Maximum Buyback Price”) payable in cash, and the maximum amount allocated for the Total Buy Back was Rs.280.000 Millions (“Offer size”). The Date of Opening of the buyback was April 25th, 2011 and last Date for the Buyback was February 17, 2012. No buy back of shares was made by the Company during the year under consideration. During the financial year 2011-2012, the Company has bought back 5,97,075 Equity Shares for a Total Consideration of Rs.32.487 Millions. The Bought back shares have been duly extinguished by the Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
230.900 |
230.934 |
230.934 |
|
(b) Reserves & Surplus |
6669.300 |
6541.143 |
6642.922 |
|
(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) |
6900.200 |
6772.077 |
6873.856 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
148.000 |
12.778 |
2.100 |
|
(c) Other long term
liabilities |
43.700 |
202.183 |
168.082 |
|
(d) long-term provisions |
15.400 |
16.187 |
9.108 |
|
Total
Non-current Liabilities (3) |
207.100 |
231.148 |
179.290 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
955.100 |
950.298 |
998.026 |
|
(b) Trade payables |
153.600 |
184.717 |
175.597 |
|
(c) Other current liabilities |
42.500 |
106.329 |
54.296 |
|
(d) Short-term provisions |
28.100 |
13.800 |
15.501 |
|
Total
Current Liabilities (4) |
1179.300 |
1255.144 |
1243.420 |
|
|
|
|
|
|
TOTAL |
8286.600 |
8258.369 |
8296.566 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2816.200 |
2124.727 |
2207.937 |
|
(ii) Intangible Assets |
0.000 |
376.873 |
203.303 |
|
(iii) Capital work-in-progress |
0.000 |
449.279 |
389.331 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1524.600 |
1519.276 |
1449.623 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
541.300 |
506.862 |
496.669 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4882.100 |
4977.017 |
4746.863 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
75.000 |
|
(b) Inventories |
386.800 |
380.090 |
371.065 |
|
(c) Trade receivables |
2332.200 |
2208.174 |
2168.569 |
|
(d) Cash and cash equivalents |
141.900 |
105.697 |
213.907 |
|
(e) Short-term loans and
advances |
496.400 |
519.273 |
645.526 |
|
(f) Other current assets |
47.200 |
68.118 |
75.636 |
|
Total
Current Assets |
3404.500 |
3281.352 |
3549.703 |
|
|
|
|
|
|
TOTAL |
8286.600 |
8258.369 |
8296.566 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1566.000 |
2362.554 |
4060.206 |
|
|
Other Income |
252.900 |
54.434 |
156.957 |
|
|
TOTAL
(A) |
1818.900 |
2416.988 |
4217.163 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
911.000 |
1749.601 |
3323.950 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6.700) |
(9.025) |
(149.018) |
|
|
Employees benefits expense |
264.000 |
248.509 |
417.785 |
|
|
Other expenses |
180.900 |
89.106 |
149.348 |
|
|
Extraordinary items |
(34.700) |
57.644 |
0.000 |
|
|
TOTAL
(B) |
1314.500 |
2135.835 |
3742.065 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
504.400 |
281.153 |
475.098 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
143.800 |
135.592 |
163.990 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
360.600 |
145.561 |
311.108 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
232.500 |
213.241 |
163.671 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
128.100 |
(67.680) |
147.437 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
34.101 |
88.456 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
128.100 |
(101.781) |
58.981 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2742.636 |
2844.416 |
2798.678 |
|
|
|
|
|
|
|
|
Excess
provision of Tax of earlier years |
NA |
0.000 |
0.175 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend Including
Dividend Tax |
NA |
0.000 |
13.420 |
|
|
Balance
Carried to the B/S |
NA |
2742.636 |
2844.416 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
NA |
59.853 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
NA |
123.394 |
62.795 |
|
|
TOTAL
IMPORTS |
NA |
123.394 |
62.795 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.77 |
(2.20) |
1.27 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
7.04 |
(4.21) |
1.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.18 |
(2.86) |
3.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.89 |
(1.08) |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
(0.01) |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.14 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.89 |
2.61 |
2.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
230.934 |
230.934 |
230.900 |
|
Reserves & Surplus |
6642.922 |
6541.143 |
6669.300 |
|
Net
worth |
6873.856 |
6772.077 |
6900.200 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
998.026 |
950.298 |
955.100 |
|
Total
borrowings |
998.026 |
950.298 |
955.100 |
|
Debt/Equity
ratio |
0.145 |
0.140 |
0.138 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4060.206 |
2362.554 |
1566.000 |
|
|
|
(41.812) |
(33.716) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4060.206 |
2362.554 |
1566.000 |
|
Profit |
58.981 |
(101.781) |
128.100 |
|
|
1.45% |
(4.31%) |
8.18% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
NMSL/2969/2009 |
Filing Date:- |
13/08/2009 |
Reg. No.:- |
NMS/2969/2009 |
Reg. Date:- |
13/08/2009 |
|
|
|
Main Matter |
|
|
|
Lodging No.:- |
SSL/4641/1998 |
Reg No.:- |
SS/4757/1998 |
|
|
|
Petitioner:- |
MARKETICS INDIA PRIVATE LIMITED |
Respondent:- |
ALLIED DIGITAL SERVICES PRIVATE LIMITED T LTD |
|
|
|
Resp.Adv.:- |
RUSTAMJI AND GINWALA |
|
|
|
District:- |
BOMBAY |
|
|
|
Bench:- |
SINGLE |
|
|
|
|
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTION. |
|
|
|
Last Date:- |
17/08/2009 |
Stage:- |
|
|
|
|
Last Coram:- |
HON'BLE SHRI JUSTICE DR. D.Y. CHANDRACHUD |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
NA |
19.334 |
|
Inter Corporate Deposits |
NA |
2.500 |
|
Total |
NA |
21.834 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
|
|
|
Claims against the company not acknowledged as debt |
246.384 |
|
Guarantees |
115.261 |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER 30.06.2014
(Rs. In Millions)
|
|
Quarter Ended |
|
30.06.2014 (unaudited) |
|
|
1. Income
from operations |
|
|
a) Net sales/ Income from operation (net of excise duty) |
392.300 |
|
b) Other operating income |
(15.100) |
|
Total
income from Operations(net) |
|
|
2.Expenditure |
|
|
a) Cost of material consumed |
0.000 |
|
b) Purchases of stock in trade |
283.800 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
4.300 |
|
d) Employees benefit expenses |
65.600 |
|
e) Depreciation and amortization expenses |
60.100 |
|
f) Other expenditure |
20.000 |
|
Total expenses |
433.800 |
|
3. Profit from operations before other income and
financial costs |
(56.500) |
|
4. Other income |
15.700 |
|
5. Profit from ordinary activities before finance costs |
(40.900) |
|
6. Finance costs |
34.100 |
|
7. Profit before exceptional Items and Tax |
(75.000) |
|
6. Exceptional Items |
0.000 |
|
9. Profit before tax |
(75.000) |
|
10.Tax expenses |
0.000 |
|
11.Net
Profit for the Period |
(75.000) |
|
14.Paid-up
equity share capital (Nominal value Re. 5/- per share) |
230.900 |
|
ii) Earnings per share (after extraordinary items) |
|
|
(a) Basic |
(1.62) |
|
diluted |
(1.62) |
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
25878999 |
|
- Percentage of shareholding |
56.03% |
|
2. Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
- |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
- |
|
Percentage of shares (as a % of total share capital of the
company) |
- |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
20307728 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
100.00% |
|
Percentage of shares (as a % of total share capital of the
company) |
43.97% |
|
*Excludes shares represebted by Global Depository
Receipts. |
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
0 |
|
Receiving during the quarter |
0 |
|
Disposed of during the quarter |
0 |
|
Remaining unreserved at the end of the quarter |
0 |
UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
Particulars |
Quarter
Ended 30.06.2014 (unaudited) |
|
|
|
|
1.
Segment Revenue |
|
|
Enterprise computing based
solution |
274.700 |
|
Infrastructure management
base solution |
117.700 |
|
Unallocated |
0.600 |
|
Total |
393.000 |
|
Net
Segment Revenue |
|
|
Profit
before interest, unallocable expenditure and tax |
|
|
Enterprise computing based
solution |
20.600 |
|
Infrastructure management
base solution |
84.200 |
|
|
104.800 |
|
Less
: Interest |
34.100 |
|
Un – allocable expenses |
145.700 |
|
Add : Other unallocated Income of
unallocated Expenses |
0.000 |
|
Total Profit before tax |
(75.000) |
|
Exceptional
Items |
|
|
Profit
before Tax |
|
|
3.
Capital Employed |
|
|
Unallocated |
5932.700 |
|
Total Capital Employed |
5932.700 |
Note:
The above results were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors of the Company held on August 14, 2014.
The Statutory Auditors of the Company have carried out a Limited Review of the quarter
ended June 30, 2014.
Expenses incurred on account of Pune city Surveillance project has been
classified under Project work in progress.
Figures for the corresponding period / previous year have been rearranged and
regrouped wherever necessary.
FIXED ASSETS
Tangible Assets
· Leasehold Premises
· Leasehold Land
· Freehold Premises
· Civil and Plumbing Work
· Furniture and Fixtures
· Office Equipments
· Motor Vehicles
· Computers and IT Equipments
· Computers (Given on lease)
Intangible Assets
· Computer Software Licenses
· Intellectual Property Rights
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.60.54 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.