MIRA INFORM REPORT
|
Report No. : |
308550 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DYNACONS SYSTEMS AND SOLUTIONS LIMITED |
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Registered
Office : |
78, Ratnajyot Industrial Estate, Irla Lane, Vile Parle (West), Mumbai
– 400056, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.09.1995 |
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Com. Reg. No.: |
11-093130 |
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Capital
Investment / Paid-up Capital : |
Rs.59.231
Millions |
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|
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CIN No.: [Company Identification
No.] |
L72200MH1995PLC093130 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMD09894D / MUMD05367F |
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PAN No.: [Permanent Account No.] |
AABCD1621Q |
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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 engaged in providing a comprehensive range of end-to-end solutions to customers. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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. The rating is constrained on account of company’s moderate financial
risk profile and low profitability margins of the company. However, trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB+ |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
10.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety. |
|
Date |
10.10.2014 |
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 DENIED
Management Non Co-Operative (Tel No.: 91-22-66889900)
LOCATIONS
|
Registered Office/ Head Quarters : |
78, Ratnajyot Industrial Estate, Irla Lane, Vile Parle (West), Mumbai
– 400056, Maharashtra, India |
|
Tel. No.: |
91-22-66889900 / 26714494 / 26716641 |
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Fax No.: |
91-22-26716641 |
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E-Mail : |
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Website : |
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Overseas Office: |
Located At
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Branch Offices: |
Located At
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Other Locations: |
Located At
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DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Shirish M. Anjaria |
|
Designation : |
Chairman and Managing Director |
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Date of Birth/Age : |
30.09.1944 |
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Qualification : |
Graduate in Science, Post Graduate in Law, Association of Ferderation of Insurance Institute |
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Date of Appointment : |
26.09.1955 |
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Name : |
Mr. Parag J. Dalal |
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Designation : |
Executive Director |
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Name : |
Mr. Dharmesh S. Anjaria |
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Designation : |
Executive Director |
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Name : |
Mr. Mukesh P. Shah |
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Designation : |
Director (Resigned w.e.f. September 24, 2013) |
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Name : |
Mr. Viren C. Shah |
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Designation : |
Director |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Advance Post Graduate in Computer and Systems management. Certificate in Oracle / SQL and RDBMS Concepts. |
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Date of Appointment : |
20.03.2001 |
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Name : |
Mr. Vishal G. Chappar |
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Designation : |
Additional Director (Appointed w.e.f. Aug 8, 2012) |
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Date of Birth/Age : |
40 Years |
|
Qualification : |
B.Com, A.C.A., MBA (NMIMS distance learning), C.I.A (US) |
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Date of Appointment : |
08.08.2012 |
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Name : |
Mr. Dilip Palicha |
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Designation : |
Director |
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Date of Birth/Age : |
05.11.1947 |
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Qualification : |
Graduate with Certificate in Printing Technology, Associate of Federation of Insurance Institutes. |
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Date of Appointment : |
21.03.2014 |
KEY EXECUTIVES
|
Name : |
Mr. Ravishankar Singh |
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Designation : |
Company Secretary |
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Name : |
Ms. Shweta |
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Designation : |
Accounts |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1793509 |
30.28 |
|
|
71475 |
1.21 |
|
|
1864984 |
31.49 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1864984 |
31.49 |
|
(B) Public Shareholding |
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|
|
|
|
|
|
|
|
|
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|
322879 |
5.45 |
|
|
|
|
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|
2949102 |
49.79 |
|
|
713960 |
12.05 |
|
|
72155 |
1.22 |
|
|
9726 |
0.16 |
|
|
62429 |
1.05 |
|
|
4058096 |
68.51 |
|
Total Public shareholding (B) |
4058096 |
68.51 |
|
Total (A)+(B) |
5923080 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
5923080 |
100.00 |
Shareholding of securities
(including shares, warrants, convertible securities) of persons belonging to
the category Promoter and Promoter Group
|
Name of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
Shirish M Anjaria |
360948 |
6.09 |
|
Dharmesh S Anjaria |
356220 |
6.01 |
|
Parag J Dalal |
347200 |
5.86 |
|
Nilam S Anjaria |
309602 |
5.23 |
|
Jigna D Anjaria |
156463 |
2.64 |
|
Devangi Parag Dalal |
134640 |
2.27 |
|
Hasumati Dalal |
64816 |
1.09 |
|
Shrish M Anjaria HUF |
3543 |
0.06 |
|
Trigem Infosolutions Limited |
71475 |
1.21 |
|
Parag J Dalal HUF |
60077 |
1.01 |
|
Total |
1864984 |
31.49 |
(*) 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
|
Name of Shareholder |
No. of Shares |
Percentage
of Holding |
|
Sanjay Sohanlalji Jain |
75000 |
1.27 |
|
Jagannath D Devadiga |
61933 |
1.05 |
|
Faisal Iqbal |
89989 |
1.52 |
|
Total |
226922 |
3.83 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in providing a comprehensive range of end-to-end solutions to customers. |
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Products : |
-- |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
Dena Bank |
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Facilities : |
Notes: Long Term Borrowings Term loans from banks are Secured by way of first mortgage / charge on the Plant and Machinery of the Company Term loans from Other Parties are Secured by way of first mortgage / charge on the Vehicles of the Company Maturity Profile of
Secured Term Loans are as set out below:
Other Details
Short Term Borrowings Working capital loans are secured by hypothecation of present and future stock, book debts, outstanding monies, receivables, claims, bills, material in transit and Fixed Assets. |
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Auditors : |
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Name : |
P. C. Ghadiali and Company Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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Email: |
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Memberships : |
-- |
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Collaborators : |
-- |
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Firm in which Wholetime Directors have substantial Interest : |
S. P. Corporation |
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Company in which Whole Time Directors
have substantial interest : |
Trigem Infosolutions Limited |
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Company in which
Directors have substantial interest |
Dynacons Technologies Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5923080 |
Equity Shares |
Rs.10/- each |
Rs.59.231
Millions |
Reconciliation of
the number of shares
|
Equity Shares |
|
Number
of Shares |
|
Equity Shares at the beginning of the year |
|
5923080 |
|
Less : Reduction on Consolidation |
|
|
|
Equity Shares at the end of the year |
|
5923080 |
The details of
Shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Shirish Mansingh Anjaria |
360948 |
6.09 |
|
Dharmesh Shirish Anjaria |
356220 |
6.01 |
|
Parag Jitendra Dalal |
347200 |
5.86 |
As per of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents the both legal and beneficial ownership of shares.
The company has only one class of equity shares having a par value of 10 per share. Each shareholder is eligible for one vote per share held.
No bonus shares have been issued to equity shareholders in last five years.
No equity share shares been bought back in last five years.
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 |
59.231 |
59.231 |
59.231 |
|
(b) Reserves & Surplus |
103.013 |
97.221 |
92.053 |
|
(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) |
162.244 |
156.452 |
151.284 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.768 |
4.263 |
6.948 |
|
(b) Deferred tax liabilities (Net) |
9.853 |
9.918 |
9.176 |
|
(c) Other long term
liabilities |
3.992 |
3.645 |
1.393 |
|
(d) long-term
provisions |
1.485 |
1.045 |
0.890 |
|
Total Non-current Liabilities
(3) |
17.098 |
18.871 |
18.407 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
134.353 |
87.805 |
64.393 |
|
(b) Trade
payables |
9.771 |
21.930 |
27.238 |
|
(c) Other
current liabilities |
21.295 |
14.552 |
17.282 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
165.419 |
124.287 |
108.913 |
|
|
|
|
|
|
TOTAL |
344.761 |
299.610 |
278.604 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
46.575 |
43.490 |
103.963 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
1.689 |
2.534 |
3.380 |
|
(b) Non-current Investments |
15.111 |
15.111 |
15.111 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
34.629 |
40.038 |
5.192 |
|
(e) Other
Non-current assets |
2.481 |
2.481 |
2.660 |
|
Total Non-Current
Assets |
100.485 |
103.654 |
130.306 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
54.542 |
53.248 |
58.973 |
|
(c) Trade
receivables |
147.891 |
123.730 |
72.840 |
|
(d) Cash
and cash equivalents |
40.802 |
18.047 |
15.563 |
|
(e)
Short-term loans and advances |
1.041 |
0.931 |
0.922 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
244.276 |
195.956 |
148.298 |
|
|
|
|
|
|
TOTAL |
344.761 |
299.610 |
278.604 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
773.184 |
585.263 |
519.396 |
|
|
|
Other Income |
3.270 |
1.733 |
2.578 |
|
|
|
TOTAL (A) |
776.454 |
586.996 |
521.974 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
509.442 |
458.235 |
|
|
|
Purchases of Stock-in-Trade |
684.116 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1.295) |
5.725 |
(7.815) |
|
|
|
Employees benefits expense |
37.662 |
28.652 |
23.153 |
|
|
|
Other expenses |
20.094 |
13.101 |
11.926 |
|
|
|
TOTAL (B) |
740.577 |
556.920 |
485.499 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
35.877 |
30.076 |
36.475 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.757 |
12.199 |
12.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.120 |
17.877 |
24.321 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.733 |
10.436 |
9.853 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.387 |
7.441 |
14.468 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.595 |
2.274 |
4.156 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.792 |
5.167 |
10.312 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
78.175 |
73.008 |
62.696 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
83.967 |
78.175 |
73.008 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.98 |
0.98 |
0.87 |
|
QUARTERLY RESULTS
|
Particulars |
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
226.000 |
294.900 |
363.800 |
|
Total Expenditure |
216.800 |
284.100 |
347.300 |
|
PBIDT (Excl OI) |
9.200 |
10.800 |
16.500 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
9.200 |
10.800 |
16.500 |
|
Interest |
4.400 |
4.800 |
8.200 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
4.800 |
6.000 |
8.300 |
|
Depreciation |
2.800 |
3.000 |
3.400 |
|
Profit Before Tax |
2.100 |
3.100 |
4.900 |
|
Tax |
0.500 |
0.600 |
1.000 |
|
Provisions and
contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1.600 |
2.500 |
3.900 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1.600 |
2.500 |
3.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.75 |
0.88 |
1.99 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.64 |
5.14 |
7.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.56 |
2.64 |
5.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.05 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.84 |
0.59 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.58 |
1.36 |
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 |
59.231 |
59.231 |
59.231 |
|
Reserves & Surplus |
92.053 |
97.221 |
103.013 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
151.284 |
156.452 |
162.244 |
|
|
|
|
|
|
long-term borrowings |
6.948 |
4.263 |
1.768 |
|
Short term borrowings |
64.393 |
87.805 |
134.353 |
|
Total
borrowings |
71.341 |
92.068 |
136.121 |
|
Debt/Equity
ratio |
0.472 |
0.588 |
0.839 |
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 |
519.396 |
585.263 |
773.184 |
|
|
|
12.681 |
32.109 |
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
|
519.396 |
585.263 |
773.184 |
|
Profit |
10.312 |
5.167 |
5.792 |
|
|
1.99% |
0.88% |
0.75% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
2.784 |
2.685 |
2.634 |
|
Total |
2.784 |
2.685 |
2.634 |
|
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 |
---------- |
|
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 |
OVERVIEW
Subject is an IT solutions company with global perspectives and is engaged in providing a comprehensive range of end-to-end solutions to customers. Subject has the technical expertise and the service delivery infrastructure to serve Customers at a level of quality consistent with their expectations. Subject helps in the selection of the right technology and application that will yield the greatest return and build a business case for implementation based on lower Total cost of ownership and higher performance.
COMPANY PERFORMANCE
During the year, The Company earned total revenues of Rs.776.454 Millions compared with Rs.586.996 Millions during the previous year, reflecting a growth of 32.28 % over the previous year. The profit before tax stood at Rs.8.337 Millions as compared to Rs.7.441 Millions in the previous year. The Company has made a provision of tax totaling to Rs.2.595 Millions and the profit after tax stood at Rs.5.792 Millions for the current year. The Operating Profit (earnings before depreciation and interest and tax) grew from Rs.30.076 Millions to Rs.35.877 Millions - a growth of 19% over the previous year.
The Company posted another stellar performance in 2013-14 and continued to maintain its growth momentum. The Company's market strategy is to offer the full range of IT services, have presence in all industry segments through a diverse range of products and service offerings, and continue expanding geography presence.
Dynacons product and service portfolio is based on providing end-to-end solutions in the IT Infrastructure space and maintains a competitive edge through a wide spectrum of technology skills. The Company's services portfolio continued to grow, with an increase in customer base.
REVIEW OF OPERATIONS
The year gone by has been characterized by an improvement in global economic climate and a rise in technology spends which has brought in optimism to the Indian IT industry. The revitalisation of economy continued during the calendar year 2013 and the economy ended the year on a better footing as compared to the start of the year. The growth momentum is expected to be carried forward during the year 2014 and will result in increased global IT spends.
Rapid technology transformation is leading to a dynamic client engagement, which in turn is fueling business transfiguration, speeding up delivery services, and driving innovation capabilities across practices and operations. The shift in business models from traditional labour based onsite-offshore models to cloud based and off premise solutions is here to stay. This has resulted in rapid evolution, expansion of verticals and geographic markets and offerings which offer a wider spectrum of solutions. The key verticals driving growth would be - BFSI, Education, and the Government sector. Innovation and new business models with global and seamless delivery models would be key drivers to sustain growth
During the year, the Company entered into several new strategic partnerships with Global IT Companies like Oracle, Aruba, Riverbed etc. The Company also enhanced its capabilities on Data Centre built and undertook some major projects in this area. The Company has also added to its current service locations, which has helped to reach its customers in the most intrinsic part of India. The continued focus on the BFSI and the Government verticals has yielded spectacular results. The Company has added several key customers in these segments towards managing their IT Infrastructure and Networking for their offices and branches.
The company has unique end to end servicing and solution capabilities that differentiate it from the traditional vendors in the market place. Dynacons has a team of specialists with experience in leveraging technology to help improve efficiency. The Company provides dynamic technology solutions and has the capability to address the increased complexity, cost and risk associated with these technology platforms. The Company's offerings span across areas relevant to each organization.
The Continued focus on Managed Services business has yielded strong results and The Company has bagged several major services orders. Dynacons has bagged the prestigious Managed Services order for Maharashtra Co-op Bank for managing their Data Centre and Disaster Recovery Centre for a period of 3 years.
The Company has also earned many formal recognitions and awards in the marketplace during the last year. Dynacons has received recognition as the Emerging IT Infrastructure Services Company by CIO Choice. We also received a special award for our Data Center capabilities from Channel World (part of the IDG group). The Company's System Integration capability, experience, quality processes, proven track record of selling and servicing high-end IT products and multi-platform technical knowhow have helped it benefit from the enhanced traction in the market place. The Company has undertaken several solution deployments such as Reserve Bank of India, State Bank of India, Central Bank, Bank of India, CGGVeritas, Breach Candy Hospital, etc.
During the year, the several initiatives were taken for increasing the reach and market presence of the Company and leveraging on our partnerships with global IT majors to increase the spectrum of offerings for customers. The company also initiated with IT certifications like Riverbed, CMMI, ISO 20000, ISO 27000 etc. The Company also took up Branding exercise and underwent identity change and is now with a fresher and a younger look.
The System Integration (SI) segment was the main contributor to the revenue growth during the year. The company continued to seek long term relationship with clients and focused on customer centric approach that has enhanced their value while addressing their IT requirement. This has also helped the company in focusing on areas alingned with the vision of the company of being a leading System Integration and allied services company. You company has also collaborated with large System Integrators for working together on large projects. During the last year the Company has won projects with Tata Consultancy Services and Atos.
The Company has the domain knowledge and technology expertise to help corporations to focus on their core business, while Dynacons manages their technology and helps transform their business processes. The Company continues to look for new ways to strengthen customer relationships, expand services portfolio by continuously introducing new services, expand l infrastructure by opening up new delivery centers, launching new products and platforms and continuously improving quality processes to raise the delivery promise to customers. The Company believes in strong focus on execution of strategy to deliver long-term growth. The Company is striving for overall growth by benefiting our customers, shareholders, employees and partners. We strive to achieve this with a pool of committed and talented individuals, embracing innovation and customer centricity while ensuring business excellence and quality in all our services. The Company continued to seek long term relationship with the clients and focused on customer centric approach that has enhanced their value while addressing their IT requirement.
The adoption of Social media, Mobile, Analytics and Cloud (SMAC) technologies is expected to drive growth in all the segments. Cloud and client maturity are the major drivers for this, especially in IT. Dynacons is adapting this technology for upgrading its existing solutions as part of its offerings. An array of new technologies - Mobility, Big Data, Social Media, Cloud Computing and Robotics are rapidly changing the world around us. It is shaping how we interact, respond and connect with one another as individuals or as companies and even as governments. The Company is looking forward to new opportunities in service domain because of changes in the landscape of leveraging cloud based services, virtualization, and cloud migration. The on-going investment of The Company, in these recent trends, will enable it to play an impactful role, in this technology revolution.
Several initiatives have been launched to identify new growth areas and simultaneously restructure existing growth engines. This has helped The Company to enrich its Company profile and build value for customers. The process of improving profitability and productivity has taken the required shape leading to better Leadership Development, Corporate Governance, Risk Management and Human Resources. Convergence of mobility and web and the implementation of cloud platforms has increased the focus on data security. Information security and business intelligence are fast emerging as the new growth areas. Cloud Computing and virtualization are changing the dynamics for providing solutions and services. The technology provides flexibility, convenience as well as reliability along with cost optimization. The Company is adapting this technology for its own use as well as for its offerings.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90215775 |
13/01/2003 |
19,180,000.00 |
Dean Bank |
Vill Parle, Mumbai, Maharashtra, India |
- |
|
2 |
90215768 |
12/08/2002 |
16,300,000.00 |
Dean Bank |
Andheri (W) Branch, Mumbai, Maharashtra, India |
- |
|
3 |
80008670 |
26/09/2013 * |
183,600,000.00 |
Dena Bank |
Deepavali,, S.V. Road, Andheri (West),, Mumbai, Maharashtra - 400058, India |
B87436382 |
|
4 |
90215714 |
11/07/2001 * |
6,500,000.00 |
Dean Bank |
Vill Parle, Mumbai, Maharashtra, India |
- |
|
5 |
90215509 |
10/10/1997 * |
750,000.00 |
Dean Bank |
Vill Parle, Mumbai, Maharashtra, India |
- |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records 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.62.25 |
|
UK Pound |
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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.