MIRA
INFORM REPORT
|
Report No. : |
308266 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GEOMETRIC LIMITED |
|
|
|
|
Registered Office
: |
Plant 11, 3rd
Pirojshanagar, Vikhroli (West), Mumbai-400079, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.03.1994 |
|
|
|
|
Com. Reg. No.: |
11-077342 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.126.072
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L72200MH1994PLC077342 |
|
|
|
|
IEC No.: |
0394027329 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG06739F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG0066A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Providing Software Services and Engineering Services. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established Public limited liability company having
fine track record. The company has reported good profitability. It has a pretty good financial
position marked by healthy net worth and strong liquidity position. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitment. The company can be considered for business dealings with usual business
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.
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 (91-22-67056500)
LOCATIONS
|
Registered Office : |
Plant 11, 3rd
Pirojshanagar, Vikhroli (West), Mumbai-400079, Maharashtra |
|
Tel. No.: |
91-22-67056500 |
|
Fax No.: |
91-22-67056891 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Unit No.703-A, 7th Floor, B’ Wing, Reliable Tech Park,
Airoli, Navi Maharashtra – 400708, Maharashtra, India |
|
|
|
|
Overseas Office: |
|
|
|
|
|
Branch Office : |
Pune Plot No. 15/B Pune Infotech Park MIDC,
Hinjewadi Taluka Mulshi Pune 411 057 Maharashtra, India Embassy TechZone, Plot No. 3, Block No. 11,
Nile Building, Rajiv Gandhi Infotech Park, MIDC, Hinjewadi, Phase-II, Village
- Marunji, Pune 411 057, Maharashtra India Bangalore Chennai Hyderabad |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Jamshyd N Godrej |
|
Address : |
40-D, B.G. Kher Marg, Malabar Hills, Mumbai – 400006, |
|
Date of Birth/Age : |
62 years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Manu M Parpia |
|
Designation : |
Managing Director |
|
Address : |
72, Tenerif, Little |
|
Date of Birth/Age : |
64 years |
|
Qualification : |
B.A. in Chemical Engineering M.B.A. Diploma in Finance and Accounting |
|
|
|
|
Name : |
Mr. Kyamas A Palia |
|
Designation : |
Director |
|
Address : |
Patel- |
|
Date of Birth/Age : |
65 years |
|
Qualification : |
Ph.D. in Business Administration |
|
|
|
|
Name : |
Mr. Milind S Sarwate |
|
Designation : |
Director |
|
Address : |
E-201/202, Sita Vihar, Near Damani Estate, L.B.S. Marg, Naupada, Thane
– 400602, Maharashtra, India |
|
Qualification : |
|
|
|
|
|
Name : |
Mr. Richard Riff |
|
Designation : |
Director |
|
Address : |
2672 W, |
|
Qualification : |
Mechnical Engineer and Master’s in Doctrate of Science and
Aeronautics. |
|
|
|
|
Name : |
Mrs. Anita Ramchandran |
|
Designation : |
Director |
|
Address : |
13, Navroze Apartments, |
|
Date of Birth/Age : |
56 years |
|
Qualification : |
Post Graduate in Business Management |
|
|
|
|
Name : |
Mr. Ajay Mehra |
|
Designation : |
Director |
|
Address : |
19 Orion, |
|
Qualification : |
Chartered Accountant |
KEY EXECUTIVES
|
Name : |
Mr. Manu M Parpia |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Maria Monserrate |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4639925 |
7.23 |
|
|
20054008 |
31.23 |
|
|
24693933 |
38.46 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
24693933 |
38.46 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
661 |
0.00 |
|
|
106032 |
0.17 |
|
|
69026 |
0.11 |
|
|
3109505 |
4.84 |
|
|
3285224 |
5.12 |
|
|
|
|
|
|
3868708 |
6.03 |
|
|
|
|
|
|
14238432 |
22.18 |
|
|
16214243 |
25.25 |
|
|
1903189 |
2.96 |
|
|
437590 |
0.68 |
|
|
679754 |
1.06 |
|
|
16000 |
0.02 |
|
|
325000 |
0.51 |
|
|
444845 |
0.69 |
|
|
36224572 |
56.42 |
|
Total Public shareholding (B) |
39509796 |
61.54 |
|
Total (A)+(B) |
64203729 |
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) |
64203729 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the Shareholder |
Details of Shares held |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
No. of Shares held |
As a % of grand total |
|
||
|
1 |
Godrej and Boyce Mfg Company Limited |
1,21,75,000 |
18.96 |
0.00 |
|
2 |
Godrej Investments Private Limited |
78,79,008 |
12.27 |
0.00 |
|
3 |
Manu M Parpia |
43,07,925 |
6.71 |
0.00 |
|
4 |
Lynn M Parpia |
2,10,000 |
0.33 |
0.00 |
|
5 |
Kamalini Mahmud Parpia |
1,17,000 |
0.18 |
0.00 |
|
6 |
Alia Hermione Manu Parpia |
5,000 |
0.01 |
0.00 |
|
|
Total |
2,46,93,933 |
38.46 |
0.00 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
1 |
Jhunjhunwala Rakesh Radheshyam |
8211250 |
12.79 |
0.00 |
|
|
2 |
Religare Finvest Limited |
1101351 |
1.72 |
0.00 |
|
|
3 |
Rekha Jhunjhunwala |
990000 |
1.54 |
0.00 |
|
|
4 |
Rakesh Radheshyam Jhunjhunwala |
3000000 |
4.67 |
0.00 |
|
|
|
Total |
13302601 |
20.72 |
0.00 |
Shareholding of securities (including shares, warrants, convertible securities) of persons (together with PAC) belonging to the category “Public” and holding more than 5% of the total number of shares of the company
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
1 |
Jhunjhunwala Rakesh Radheshyam |
8211250 |
12.79 |
0.00 |
|
|
|
Total |
8211250 |
12.79 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Software Services and Engineering Services. |
|
|
|
|
Products/Services : |
·
Software Services ·
Engineering Services |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Citibank, Fort, R.N. Road, Mumbai, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage 127, |
|
Tel. No.: |
91-22-61587200 |
|
Fax No.: |
91-22-22673954 |
|
|
|
|
Associates: |
· Godrej and Boyce Mfg. Company Limited ·
Godrej Infotech Limited |
|
|
|
|
Subsidiary
Companies: |
·
3D PLM Software Solutions Limited ·
Geometric Asia Pacific Pte. Limited ·
Geometric China Inc. ·
Geometric Japan KK ·
Geometric Americas, Inc. ·
Geometric SAS. ·
Geometric Romania SRL ·
Geometric Europe GmbH ·
3cap technologies GmbH GmbH.(formerly
3 Cap Technologies GmbH) (w.e.f. January, 01, 2013) |
|
|
|
|
Directors having
Substantial Interest in: |
Cerebrus Consultants Private Limited |
CAPITAL STRUCTURE
AS ON 23.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80,000,000 |
Equity Shares |
Rs.2/- each |
Rs.160.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
64203729 |
Equity Shares |
Rs.2/- each |
Rs.128.407
Millions |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80,000,000 |
Equity Shares |
Rs.2/- each |
Rs.160.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
63,476,736 |
Equity Shares |
Rs.2/- each |
Rs.126.953
Millions |
|
|
|
|
|
NOTES:
RIGHT /TERMS
ATTACHED TO EQUITY SHARES:
The company has
only one class of equity shares having par value of Rs. 2 per share. Each
shareholder is eligible for one vote per share held. The dividend proposed by the
Board of Directors is subject to the approval of shareholders in the ensuing
general meeting, except in case of interim dividend. In the event of
liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
DETAILS OF SHAREHOLDERS HOLDING 5% OR MORE SHARES IN THE COMPANY:
|
Name of Shareholder |
As on 31.03.2014 |
|
|
|
No. of Shares |
% of Holding |
|
Godrej and Boyce Manufacturing Company Limited |
12175000 |
19.18 |
|
Godrej Investments Private Limited |
7879008 |
12.41 |
|
Manu M. Parpia |
4307925 |
6.79 |
|
Rakesh Radheshyam Jhunjhunwala |
11261250 |
17.74 |
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 |
126.953 |
126.072 |
125.341 |
|
(b) Reserves & Surplus |
3045.576 |
2351.732 |
1948.837 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.900 |
0.313 |
0.386 |
|
Total Shareholders’ Funds (1) + (2) |
3173.429 |
2478.117 |
2074.564 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
59.900 |
0.000 |
0.000 |
|
(b) Trade payables |
51.480 |
15.389 |
41.344 |
|
(c) Other current
liabilities |
391.285 |
309.908 |
319.791 |
|
(d) Short-term provisions |
266.531 |
445.436 |
598.661 |
|
Total Current Liabilities (4) |
769.196 |
770.733 |
959.796 |
|
|
|
|
|
|
TOTAL |
3942.625 |
3248.850 |
3034.360 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
65.471 |
107.214 |
85.402 |
|
(ii) Intangible Assets |
110.803 |
119.562 |
104.354 |
|
(iii) Capital
work-in-progress |
190.799 |
7.924 |
0.402 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
809.623 |
809.623 |
626.580 |
|
(c) Deferred tax assets (net) |
23.195 |
17.552 |
29.408 |
|
(d) Long-term Loan and Advances |
1050.766 |
1087.390 |
692.596 |
|
(e) Other Non-current assets |
3.761 |
2.999 |
2.989 |
|
Total Non-Current Assets |
2254.418 |
2152.264 |
1541.731 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
242.789 |
249.432 |
465.453 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
884.563 |
488.200 |
469.285 |
|
(d) Cash and cash
equivalents |
61.671 |
33.877 |
352.707 |
|
(e) Short-term loans
and advances |
168.748 |
118.323 |
105.826 |
|
(f) Other current
assets |
330.436 |
206.754 |
99.358 |
|
Total Current Assets |
1688.207 |
1096.586 |
1492.629 |
|
|
|
|
|
|
TOTAL |
3942.625 |
3248.850 |
3034.360 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3744.441 |
3522.497 |
2697.321 |
|
|
|
Other Income |
355.317 |
193.836 |
358.008 |
|
|
|
TOTAL (A) |
4099.758 |
3716.333 |
3055.329 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefits Expenses |
1962.887 |
1955.701 |
1902.202 |
|
|
|
Other Expenses |
1311.440 |
1196.594 |
786.292 |
|
|
|
Exceptional Expenses / Items |
0.000 |
(6.124) |
(243.942) |
|
|
|
TOTAL (B) |
3274.327 |
3146.171 |
2444.552 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
825.431 |
570.162 |
610.777 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.464 |
2.699 |
3.906 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
821.967 |
567.463 |
606.871 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
127.536 |
123.551 |
88.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
694.431 |
443.912 |
518.111 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
132.664 |
99.710 |
106.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
561.767 |
344.202 |
411.984 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1675.187 |
1479.625 |
1213.399 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
56.500 |
34.420 |
41.200 |
|
|
|
Dividend Tax |
20.595 |
18.212 |
16.267 |
|
|
|
Proposed Dividend on equity shares |
126.953 |
107.161 |
0.000 |
|
|
|
Final Dividend- Short fall in previous year |
0.212 |
0.080 |
100.443 |
|
|
|
Reversal of excess provision for dividend distribution tax of previous
years |
(18.212) |
(11.233) |
(12.152) |
|
|
BALANCE CARRIED
TO THE B/S |
2050.906 |
1675.187 |
1479.625 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from Software Development and Sale of Software |
3255.797 |
2976.273 |
2264.991 |
|
|
|
Reimbursement of Expenses |
13.733 |
21.257 |
26.009 |
|
|
|
Interest and Dividend |
66.185 |
46.419 |
39.794 |
|
|
|
Commission Income |
11.112 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
3043.949 |
3346.827 |
3043.949 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
39.213 |
42.882 |
60.665 |
|
|
|
Software |
5.450 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
44.663 |
42.882 |
60.665 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
8.88 |
5.48 |
6.58 |
|
|
|
- Diluted |
8.72 |
5.40 |
6.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
15.00 |
9.77 |
15.27 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
22.04 |
16.19 |
22.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.79 |
18.39 |
21.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.18 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19 |
1.42 |
1.56 |
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 |
125.341 |
126.072 |
126.953 |
|
Reserves & Surplus |
1948.837 |
2351.732 |
3045.576 |
|
Share Application money
pending allotment |
0.313 |
0.386 |
0.900 |
|
Net
worth |
2074.491 |
2478.190 |
3173.429 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
59.900 |
|
Total
borrowings |
0.000 |
0.000 |
59.900 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.019 |
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 |
2697.321 |
3522.497 |
3744.441 |
|
|
|
30.592 |
6.301 |
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 |
2697.321 |
3522.497 |
3744.441 |
|
Profit |
411.984 |
344.202 |
561.767 |
|
|
15.27% |
9.77% |
15.00% |
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 |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80015396 |
23/10/2007 * |
260,000,000.00 |
CITIBANK BANK N.A. |
BANDRA-KURLA COMPLEX, BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA |
A27484500 |
GENERAL INFORMATION
Geometric Limited (the Company) is public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Headquartered in Mumbai, India, the Company was incorporated in 1994 and is listed on the Bombay Stock Exchange and National Stock Exchange. It employs 4500 people across 13 global delivery locations in the US, the UK, France, Germany, Romania, India, and China. The Company was assessed as CMMI 1.1 Level 5 for its software services and is ISO 9001:2008 certified for engineering operations. The Company’s operations are also ISO 27001:2005 certified. The Company is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services and Digital Technology solutions for Product Lifecycle Management (PLM) enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
BUSINESS REVIEW:
The Industrial vertical market which we serve showed a lot of uncertainty throughout the financial year. Their largest accounts particularly from the off-highway equipment sector showed significant slowdown in business. The
Automotive industry stayed positive and we saw trends sustaining in global engineering, driving a gradual increase in demand for their key offerings in engineering and PLM IT. Their business from the Aerospace industry continued on the expected growth path as their three flagship customer groups renewed their faith in their capabilities through long term contracts.
Operating revenues in rupee terms for the consolidated financials increased from INR 10,203.60 Million in FY13 to INR 10,954.52 Million in FY14, a growth of 7.37%. For the same period, profit-after-tax decreased from INR 687.5 Million FY 13 to INR 462.6 Million FY14 (after adjustment for extraordinary items), a de growth of 32.71%. The business segments of the Company - software services, engineering services, and products recorded the following trends in the year FY14:
· Software services contribution to the top line increased from 55.29% in FY13 to 59.81% in FY14.
· Engineering services contribution to the top line decreased from 39.02 % in FY13 to 34.05 % in FY14.
· Products business contribution to the top line increased from 5.7% in FY13 to 6.14% in FY14.
The Company’s performance in the four regions in which we operate can be summarized as follows:
· USA’s share decreased from 65.10% in FY13 to 57.64% in FY14; a de growth of 4.9% in absolute terms.
· Europe’s share of revenue increased from 23.89% in FY13 to 32.16% in FY14; a growth of 44.5% in absolute terms which includes revenue of Geometric GmbH for the full year.
· APAC’s share decreased from 4.53% in FY13 to 3.74% in FY14.
· India’s share decreased from 6.48% in FY13 to 6.46 % in FY14.
Europe continues to be their focus growth market with a positive demand environment particularly for their software services. The business environment in China continues to be very promising and we have made good inroads resulting in the gradual increase of revenue contribution from the region.
Trends in various customer segments that the Company caters to were as follows:
· Direct Industrial: Segment share of business increased from 61.93% in FY13 to 62.30% in FY14. In absolute terms, this segment recorded de-growth of 2.7% over the previous year. (USD 113.02 Million in FY14 Vs USD 116.17 Million in FY13)
· Strategic Partners: Segment share of business reduced from 5.35% in FY13 to 2.72% in FY14; showing a reduction of 49.23% % in absolute terms. (USD 4.93 Million in FY14 Vs USD 9.71 Million in FY13)
· Software ISVs: Segment share of business increased from 34.01% in FY13 to 34.98% in FY14. In absolute terms, this segment recorded a growth of 2.85% over the previous year. (USD 63.45 Million in FY14 Vs USD 61.69 Million in FY13)
In the coming financial year, their vertical organization with P&L accountability and continued business development focus on hunting accounts, will help us build closer customer relationships. Their horizontal organization with bulk of the delivery capacity will ensure the focus on innovation, quality and competency to build customer intimacy and drive predictable revenue. Their investments in sales transformation for value selling, in building differentiated offerings intertwining their solutions and in bringing the focus to chase large deals are poised to provide the right solutions for their accounts globally.
MANAGEMENT’S
DISCUSSION AND ANALYSIS REPORT
BUSINESS
ENVIRONMENT AND OUTLOOK:
Geometric operates in the Engineering to Manufacturing space and predominantly for the engineering intensive discrete manufacturing industries. Their services, solutions and technology portfolio referred to as Engineering Services in the discussion and analysis report, covering product realization services and solutions, such as Product Lifecycle Management, Software
Product Development, Embedded Systems and Global Engineering services aims to increase the effectiveness and efficiency of design, engineering and manufacturing business processes for firms across the globe.
FY14 saw Geometric’s major markets behave very differently in response to global macro-economic factors. The economic uncertainties and slower global business activity in core industries like mining put significant stress on the capital intensive equipment industry and hence a fall in demand. The positive part is that stronger globalization initiatives in other industries and greater acceptability towards outsourcing for global engineering in Europe are resulting in a gradual increase in demand for their key offerings going into the new financial year. The automotive industry will continue to be the largest industry market for Geometric. The outlook for the industry is very positive with R&D investments being sustained for technologies to improve engine efficiency and performance, alternate fuel, towards making vehicles safer and realizing connected mobility for new sources of revenue. The trend of direct and closer
OEM to OEM collaboration has provided opportunities for Geometric to strengthen its engagements with leading automotive OEMs. Geometric is favorably placed to provide solutions for the OEMs’ needs of extended collaboration, bringing down cost of engineering changes and supporting their needs across geographies. The outlook for the automotive industry is also positive for us based on the inroads that we have made with the leading German and Chinese automotive companies. Investments in their Consulting group, in making their offerings a tighter fit for the automotive industry and in making engineering talent available in the customer’s primary geography have helped us establish the confidence with their customers. Electronics and embedded systems will be the biggest area of R&D and new development for the industry. The acquired capabilities having been integrated into Geometric provide the foundation to serve their established customers and provide end-to-end solutions. The automotive industry is certainly promising with opportunities for Geometric, however the pressure that we will have work on are the high cost country vs offshore delivery balance and talent scalability to reinforce their leadership for the vertical.
The year gone by was challenging for the off-highway equipment industry as a whole, with mining dependent sectors facing the most significant business reversals. However since the beginning of calendar year 2014 the metal and mineral commodity prices have recovered from the lows of mid last year to prices higher than a year ago or to similar levels. This will lead to a cautious revival of the mining equipment industry. The construction industry, depressed in Europe and slowed down in China for most of 2013, has shown positivity with significant government initiatives in Latin America and infrastructure modernization activity in North America. A strong growth in rental business is expected in this sector and new product development for price sensitive markets of Asia and Africa will revive. Industrialization of farming activity in the emerging economies, the need to build multipurpose farming equipment and incorporation of electronic systems will bring the right opportunities for Geometric in global engineering. Geometric has significant opportunity to help their existing customers succeed in their M&A and collaboration ventures announced in the last year. Manufacturing efficiencies is another area of significant attention and Geometric is well poised with the process knowledge and technologies to support design for manufacturability investments in their customer base.
Aerospace is Geometric’s key growth market. The commercial aircraft sector continued to trend upwards in building upon its production momentum and is expected to continue its healthy revenue growth for OEMs and large suppliers. The growth drivers are sustained demand for fuel-efficient planes and engine technologies to replace old fleets and continued increase in passenger travel. Their three flagship aerospace customer groups have also shown positive business performance and embarked on programs that open up a lot of long term opportunities for Geometric. The aircraft OEMS are pushing the speed of R&D and the leading suppliers are consolidating through M&A’s and collaborations, opening up large scale engineering opportunities.
Geometric will continue to help the industry in its need for speed and efficient engineering through their specific offerings aimed at simplifying and modernizing their IT landscapes and key engineering processes. The sales cycles will continue to be stretched; however Geometric is well positioned to address the market needs emerging from their focus accounts.
SEGMENT-WISE
REPORTING:
Software Solutions:
In FY14, they won
deals for software services that have helped them improve customer intimacy and
get top management visibility at their customers. Important PLM deals at their
existing customers drove the growth of their key accounts. Their expertise in
CAD and PLM integrations helped them win new marquee customers, market leaders
in the automotive sector and they hope to extend these into million dollar
engagements. Their Consulting Group has now established itself as a thought
leader in the engineering IT solutions space and helped them emerge as PLM
advisors to their customers. In Europe and China particularly, their Consulting
led approach has ensured that they are key contenders for some high-value deals
going into FY15. Their strengths in defining and deploying process solutions
and a focus on AMS (Application Management Services) has further strengthened
their engagements in the aerospace and industrial equipment sectors resulting
in long term contracts.
Their embedded
systems development focus has been to strengthen their capability and
engagements in Europe and India. In FY14, they sustained their current
engagements and have laid the foundation to provide specific domain solutions
for automotive. They are very confident of healthy growth in FY15 through their
initiatives on offering led business development with the focus to further
reinforce their differentiation in software services. They have rolled out a
new competency based organization structure and this would help them to provide
a career path for technical experts and would improve their capacity and
capability to execute projects in engineering IT, geometry based solutions, KBE
(Knowledge Based Engineering) and embedded systems.
Engineering Solutions and Services:
Geometric provides
engineering solutions and services for product engineering, manufacturing
engineering and industrial engineering to customers across all their target
industries. In FY14 their focus on Aerospace vertical for growth has helped
them achieve key milestones. They have set up a global engineering center for a
European aerospace tier I company. Their excellent quality track record helped
them to retain the Gold Supplier status with a key North American aerospace
group. While in India they are partnering with the aerospace unit of major
manufacturing conglomerate and to deliver design to manufacturing solutions in
aerospace tooling to global aerospace manufactures. They have ramped up their
offshore capacity to deliver manufacturing and industrial engineering services
from India. They leverage this capacity for true global engineering to provide
end to end digital manufacturing services for a leading automotive OEM across
multiple plants. They have deep competencies and differentiated proposition in
should costing which they are taking ahead to sharpen their Value
Analysis/Value Engineering offering as they help customers engineer products
for new growth markets. They won multiple engagements to help customers from
the off-highway and industrial equipment sector achieve their goals for product
costing and delivered VAVE projects in China for a major European escalator
manufacturer. They have redefined their major offerings with a view to win
larger deals and ensure long term annuity contracts with their customers. Their
Global Engineering Center (GEC) offering will leverage their global delivery
capacity, bring in Geometric’s technology differentiators and application of
automation, and lean methodology to deliver committed value to their customers.
They will focus on taking their Global Engineering center (GEC) offering to
their marquee clients.
Products:
Products and
Technology portfolio of Geometric includes products for design, manufacturing,
visualization and collaboration. The portfolio also includes interoperability
solutions that integrate engineering and manufacturing applications within and
across PLM and other enterprise systems. Their award winning Geometric DFX
product continues to expand its success through the value delivered to some of
the world’s most innovative organizations. CAM Works, their CAM solution that
has traditionally been a retail product sold through distributor network, also
expanded this year on newer CAD platform to increase its addressable market
size. Their visualization solutions that enables 3d Model Based Enterprises
(MBE), continues to get good interest in many enterprises and is poised to help
these organization to reduce their dependency on 2d drawings / papers and
enable faster collaboration based on 3d data. The products business is seen as
a significant differentiator for Geometric’s services business
and also helps
generate large services opportunities around its proprietary
products-technologies implementation in large enterprises. In FY 14 this business
continued to show significant revenue growth.
FIXED ASSETS:
·
Leasehold Land
·
Building
·
Computers
·
Electrical Installation
·
Office Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
STATEMENT OF STANDALONE
AUDITED RESULTS FOR THE QUARTER AND YEAR ENDED
31st,
DECEMBER 2014
Rs. in Millions
|
Sr. No. |
Particular |
3 Months Ended |
Preceding 3 Months Ended |
Year Ended |
|
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
1. |
Revenue From Operations |
985.100 |
1036.300 |
2949.000 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Employee
benefits expenses |
572.600 |
534.400 |
1611.500 |
|
|
Depreciation
and amortization expenses |
35.100 |
29.400 |
91.100 |
|
|
Other
expenses |
221.800 |
266.000 |
715.700 |
|
|
Total Expenses |
829.500 |
829.800 |
2418.300 |
|
|
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
155.600 |
206.500 |
530.700 |
|
|
|
|
|
|
|
4. |
Other
Income |
44.600 |
290.900 |
360.700 |
|
|
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
200.200 |
497.400 |
891.400 |
|
|
|
|
|
|
|
6. |
Interest |
3.400 |
1.200 |
5.500 |
|
|
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
196.800 |
496.200 |
885.900 |
|
|
|
|
|
|
|
8. |
Exceptional
Items |
-- |
-- |
-- |
|
|
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
196.800 |
496.300 |
885.900 |
|
|
|
|
|
|
|
10. |
Tax
Expense |
46.800 |
71.600 |
178.900 |
|
|
|
|
|
|
|
11. |
Net
Profit for the period (9-10) |
150.000 |
424.600 |
707.000 |
|
|
|
|
|
|
|
12. |
Paid-up
Equity Share Capital (Face Value of Rs.2/- Each) |
128.400 |
128.000 |
128.400 |
|
|
|
|
|
|
|
13. |
Reserves
Excluding Revaluation Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
|
14. |
Basic and Diluted Earning Per Share
(EPS) (Rs.)-Not Annualised |
|
|
|
|
|
a)
Basic and diluted EPS before extraordinary items |
2.35 |
6.66 |
11.07 |
|
|
b)
Basic and diluted EPS after extraordinary items |
2.30 |
6.50 |
10.83 |
|
|
|
|
|
|
|
15. |
Public Shareholding |
|
|
|
|
|
-Number
of Shares |
39,509,796 |
39,281,892 |
39,509,796 |
|
|
-
Percentage of Shareholding |
61.54 |
61.40 |
61.54 |
|
|
|
|
|
|
|
16. |
Promoters and Promoter Group
Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
- Number
of Shares |
Nil |
Nil |
Nil |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of promoter and
promoter group) |
Nil |
Nil |
Nil |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
-
Number of Shares |
24,693,933 |
24,693,933 |
23,453,933 |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of Promoter and
Promoter Group) |
100.00% |
100.00% |
100.00% |
|
|
- Percentage
of Shares (as a % of the Total Share Capital of the Company) |
38.46% |
38.60% |
38.46% |
|
Particulars |
3 Months Ended 31.12.2014 |
|
Pending at the beginning of the quarter |
-- |
|
Received during the quarter |
-- |
|
Disposed of during the quarter |
-- |
|
Remaining unresolved at the end of the
quarter |
-- |
STANDALONE STATEMENT
OF ASSETS AND LIABILITIES
|
PARTICULAR |
Standalone |
||
|
Quarter Ended |
Six Month Ended |
||
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Segment Revenue : |
|
|
|
|
Products |
230.200 |
210.200 |
607.500 |
|
Software Services |
1710.900 |
1717.000 |
5138.300 |
|
Engineering Services |
947.800 |
869.500 |
2628.300 |
|
Total |
2888.900 |
2796.700 |
8374.100 |
|
Less : Inter Segment Revenue |
-- |
-- |
-- |
|
Net Revenue from
Operations |
2888.900 |
2796.700 |
8374.100 |
|
Segment Results : |
|
|
|
|
Products |
82.200 |
40.600 |
181.600 |
|
Software Services |
519.000 |
727.800 |
2103.700 |
|
Engineering Services |
357.500 |
155.400 |
512.900 |
|
Total |
958.700 |
923.800 |
2798.200 |
|
Less : Finance Cost |
8.300 |
7.700 |
24.000 |
|
Less : Other unallocable expense net of unallocable income |
623.200 |
589.600 |
1743.700 |
|
Profit / (Loss) before Tax |
327.200 |
326.500 |
1030.500 |
|
Capital Employed |
|
|
|
|
SECONDARY
GEOGRAPHICAL SEGMENTS REVENUE |
|
|
|
|
USA |
1688.400 |
1594.200 |
4815.100 |
|
Europe |
827.800 |
866.900 |
2581.900 |
|
Asia Pacific |
183.500 |
139.800 |
457.700 |
|
India |
189.100 |
195.800 |
519.300 |
|
|
2888.800 |
2796.700 |
8374.000 |
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.62.24 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.