|
|
|
MIRA INFORM REPORT
|
Report No. : |
496923 |
|
Report Date : |
14.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
E-INFOCHIPS LIMITED |
|
|
|
|
Formerly Known
As : |
SOLUTION MACHINES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-Infochips House, 11/A-B Chandra Colony, Behind Cargo Motors Office,
C G Road, Ahmedabad-380006, Gujarat |
|
Tel. No.: |
91-79-26563705 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
10.06.1988 |
|
|
|
|
Com. Reg. No.: |
04-010830 |
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|
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|
Capital
Investment / Paid-up Capital : |
INR 264.025 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ1988PLC010830 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCS1310E |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
The company is primarily engaged in Software Development and IT enable services and products. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1988. It is engaged in providing
computer system development services. The company was founded by Pratul Shroff and it has global
headquarters in both Ahmedabad, India and Sunnyvale, California along with
1700 employees worldwide. For the financial year 2017, the company has reported slight dip of
1.66% as compared to the previous year but has managed to maintain a decent
profit margin of 35.27%. The sound financial risk profile of the company is marked by adequate
networth base along with strong debt protection metrics due to debt free
balance sheet profile. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealings
at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 14.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Sham Parekh |
|
Designation : |
Assistant Finance Manager |
|
Contact No.: |
91-79-26563705 |
|
Date : |
13.03.2018 |
LOCATIONS
|
Registered Office : |
E-Infochips House, 11/A-B Chandra Colony, Behind Cargo Motors Office,
C G Road, Ahmedabad-380006, Gujarat |
|
Tel. No.: |
91-79-26563705 |
|
Fax No.: |
91-79-26560722 |
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E-Mail : |
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Website : |
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Overseas Office: |
Also Located At:
USA
JAPAN ·
Tokyo |
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Branch Office : |
Also Located At:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Pratul Krishnakant Shroff |
|
Designation : |
Managing Director |
|
Address : |
10, Rushil Bunglows, New Jaiambe Park Society, Near Judges Bunglows,
Bodakdev, Thaltej, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age : |
04.11.1953 |
|
Qualification : |
B. E. (Electronics) |
|
Date of Appointment : |
10.06.1988 |
|
DIN No.: |
00162576 |
|
|
|
|
Name : |
Mr. Jayesh Kantilal Shah |
|
Designation : |
Director |
|
Address : |
26, Amaltas Bunglows, Vastrapur Road, Ahmedabad-380015, Gujarat, India
|
|
Date of Birth/Age : |
25.05.1960 |
|
Qualification: |
B.Com., C.A. |
|
Date of Appointment : |
03.12.2004 |
|
DIN No.: |
00008349 |
|
|
|
|
Name : |
Mr. Arjun Malhotra |
|
Designation : |
Director |
|
Address : |
5, Golf Links Ground Floor New Delhi- 110003, India |
|
Date of Birth/Age : |
07.01.1949 |
|
Qualification: |
IIT-Kharaghpur |
|
Date of Appointment : |
21.04.2016 |
|
DIN No.: |
00177397 |
|
|
|
|
Name : |
Keskar Sanjeev Arvind |
|
Designation : |
Additional Director |
|
Address : |
No.401, New Thippasandra, Gitanjali Layout, Corner II, Hal 3rd Stage, Bangalore – 560075, Karnataka, India |
|
Date of Appointment : |
09.01.2018 |
|
DIN No.: |
03441367 |
|
|
|
|
Name : |
Gregory Paul Tarpinian |
|
Designation : |
Additional Director |
|
Address : |
33442, Meadow Mountain Road, Evergreen Colorado 804399714 US |
|
Date of Appointment : |
09.01.2018 |
|
DIN No.: |
07104776 |
|
|
|
|
Name : |
Christopher David Stansbury |
|
Designation : |
Additional Director |
|
Address : |
811, S Grant St Hinsdale IL United States of America 60521 US |
|
Date of Appointment : |
09.01.2018 |
|
DIN No.: |
07593163 |
|
|
|
|
Name : |
Matthew Ronald Anderson |
|
Designation : |
Additional Director |
|
Address : |
84, Silver Leaf Way Castle Rock Colorado 80108 US |
|
Date of Appointment : |
09.01.2018 |
|
DIN No.: |
08037428 |
KEY EXECUTIVES
|
Name : |
Mr. Sumit Indramohan Sethi |
|
Designation : |
Secretary |
|
Address : |
A-301, Spectrum Towers, Opposite Police Stadium Shahibaug,
Ahmedabad-380004, Gujarat, India |
|
Date of Birth/Age : |
23.11.1978 |
|
Date of Appointment : |
01.03.2008 |
|
Pan No.: |
ATDPS0110P |
|
|
|
|
Name : |
Mr. Alpesh Jentibhai Vekariya |
|
Designation : |
Company Secretary |
|
Address : |
33, Shyamvrund Tenament, Near India Colony, Bopal-Ghuma Road, Bopal, Ahmedabad- 380058, Gujarat, India |
|
Date of Birth/Age : |
20.07.1987 |
|
Date of Appointment : |
06.05.2015 |
|
PAN No.: |
APUPV6296E |
|
|
|
|
Name : |
Mr. Sham Parekh |
|
Designation : |
Assistant Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
Note: SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
75.78 |
|
Public/Other than promoters (Individual/Hindu Undivided Family- Indian) |
12.32 |
|
Public/Other than promoters [Individual/Hindu Undivided Family-Non-resident Indian (NRI)] |
6.92 |
|
Public/Other than promoters (Venture capital) |
4.71 |
|
Public/Other than promoters (Others-Body Corporate-Overseas) |
0.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in Software Development and IT enable services and products. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
C.R. Sharedalal and Company Chartered Accountants |
|
Address : |
101-102, Parishram, 5-B, Rashmi Society, Mithakhali Six Road,
Navrangpura, Ahmedabad-380009, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC6902F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
E- Infochips Institute of Training Research and Academics |
|
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|
Other related party
: |
|
CAPITAL STRUCTURE
After 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31300000 |
Equity Shares |
INR 10/- each |
INR 313.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : INR 266.470
Million
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31300000 |
Equity Shares |
INR 10/- each |
INR 313.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26402532 |
Equity Shares |
INR 10/- each |
INR 264.025
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
264.025 |
261.140 |
254.664 |
|
(b) Reserves and Surplus |
3108.009 |
1693.306 |
1833.465 |
|
(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) |
3372.034 |
1954.446 |
2088.129 |
|
|
|
|
|
|
(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 |
0.654 |
5.880 |
5.880 |
|
(d) long-term
provisions |
85.643 |
71.109 |
69.552 |
|
Total Non-current
Liabilities (3) |
86.297 |
76.989 |
75.432 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
46.084 |
39.993 |
20.244 |
|
(c) Other
current liabilities |
28.345 |
89.876 |
45.654 |
|
(d) Short-term
provisions |
246.788 |
126.788 |
489.275 |
|
Total Current
Liabilities (4) |
321.217 |
256.657 |
555.173 |
|
|
|
|
|
|
TOTAL |
3779.548 |
2288.092 |
2718.734 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
278.273 |
310.723 |
307.982 |
|
(ii)
Intangible Assets |
22.273 |
22.957 |
20.331 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
8.331 |
5.336 |
0.000 |
|
(b) Non-current Investments |
1152.302 |
441.751 |
527.292 |
|
(c) Deferred tax assets (net) |
175.445 |
16.761 |
8.543 |
|
(d)
Long-term loans and advances |
102.490 |
101.161 |
116.116 |
|
(e) Other
Non-current assets |
31.980 |
6.078 |
34.003 |
|
Total Non-Current
Assets |
1771.094 |
904.767 |
1014.267 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
528.590 |
175.904 |
490.704 |
|
(b)
Inventories |
89.760 |
50.753 |
9.838 |
|
(c) Trade
receivables |
652.245 |
709.726 |
857.715 |
|
(d) Cash and
bank balances |
63.306 |
200.536 |
94.395 |
|
(e)
Short-term loans and advances |
156.207 |
115.690 |
160.514 |
|
(f) Other
current assets |
518.346 |
130.716 |
91.301 |
|
Total
Current Assets |
2008.454 |
1383.325 |
1704.467 |
|
|
|
|
|
|
TOTAL |
3779.548 |
2288.092 |
2718.734 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2645.849 |
2690.445 |
2491.208 |
|
|
Other Income |
214.985 |
297.901 |
68.060 |
|
|
TOTAL |
2860.834 |
2988.346 |
2559.268 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
92.014 |
84.999 |
128.300 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(19.695) |
(5.522) |
0.043 |
|
|
Employee benefit expense |
942.736 |
910.291 |
854.262 |
|
|
CSR expenditure |
32.600 |
21.900 |
14.800 |
|
|
Other expenses |
424.310 |
350.224 |
338.951 |
|
|
TOTAL |
1471.965 |
1361.892 |
1336.356 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1388.869 |
1626.454 |
1222.912 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.822 |
7.705 |
24.134 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1385.047 |
1618.749 |
1198.778 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
85.716 |
88.678 |
103.188 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1299.331 |
1530.071 |
1095.590 |
|
|
|
|
|
|
|
Less |
TAX |
366.175 |
443.284 |
388.199 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
933.156 |
1086.787 |
707.391 |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
1097.847 |
1437.416 |
1117.372 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Tax on Buyback of Shares |
7.478 |
0.000 |
0.000 |
|
|
Interim Dividend (Including
DDT) |
0.000 |
1255.494 |
0.000 |
|
|
Transfer on Account Merger |
0.000 |
62.183 |
0.000 |
|
|
Transfer to General Reserve |
0.000 |
108.679 |
70.739 |
|
|
Proposed Dividend |
0.000 |
0.000 |
259.715 |
|
|
Tax on Proposed Dividend |
0.000 |
0.000 |
52.872 |
|
|
Balance
Carried to the B/S |
2023.525 |
1097.847 |
1437.416 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2424.261 |
2573.325 |
2525.582 |
|
|
TOTAL EARNINGS |
2424.261 |
2573.325 |
2525.582 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
90.446 |
88.791 |
102.944 |
|
|
Capital Goods |
12.518 |
57.125 |
20.732 |
|
|
TOTAL IMPORTS |
102.965 |
145.916 |
123.676 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
35.53 |
42.00 |
27.92 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1227.157 |
1597.885 |
979.937 |
|
Net cash flow from operating activity |
865.304 |
1121.682 |
488.670 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
89.98 |
96.29 |
125.67 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
4.06 |
3.79 |
2.90 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
182.81 |
171.74 |
57.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
15.47 |
32.05 |
124.30 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
4.50 |
4.80 |
3.72 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.08 |
0.11 |
0.20 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.10 |
0.13 |
0.27 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.09 |
0.17 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
363.39 |
211.09 |
50.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
35.27 |
40.39 |
28.40 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
24.69 |
47.50 |
26.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
27.67 |
55.61 |
33.88 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
6.25 |
5.39 |
3.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
5.97 |
5.19 |
3.05 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.89 |
0.85 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
6.25 |
5.39 |
3.07 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
264.025 |
261.140 |
|
(b) Reserves and Surplus |
|
3322.441 |
1860.775 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
3586.466 |
2121.915 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.654 |
5.880 |
|
(d) long-term
provisions |
|
85.643 |
71.109 |
|
Total Non-current
Liabilities (3) |
|
86.297 |
76.989 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
72.497 |
94.832 |
|
(c) Other
current liabilities |
|
133.392 |
191.453 |
|
(d) Short-term
provisions |
|
287.632 |
146.125 |
|
Total Current
Liabilities (4) |
|
493.521 |
432.410 |
|
|
|
|
|
|
TOTAL |
|
4351.010 |
2794.136 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
284.283 |
316.400 |
|
(ii)
Intangible Assets |
|
22.273 |
22.957 |
|
(iii) Tangible assets
capital work-in-progress |
|
8.331 |
5.336 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1393.525 |
683.211 |
|
(c) Deferred tax assets (net) |
|
175.445 |
16.761 |
|
(d)
Long-term loans and advances |
|
112.642 |
104.454 |
|
(e) Other
Non-current assets |
|
31.980 |
6.078 |
|
Total Non-Current
Assets |
|
2028.479 |
1155.197 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
528.590 |
175.904 |
|
(b)
Inventories |
|
89.760 |
50.753 |
|
(c) Trade
receivables |
|
944.011 |
944.570 |
|
(d) Cash and
bank balances |
|
121.897 |
267.400 |
|
(e)
Short-term loans and advances |
|
119.927 |
69.596 |
|
(f) Other
current assets |
|
518.346 |
130.716 |
|
Total
Current Assets |
|
2322.531 |
1638.939 |
|
|
|
|
|
|
TOTAL |
|
4351.010 |
2794.136 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
4399.121 |
4269.804 |
|
|
Other Income |
|
218.844 |
301.007 |
|
|
TOTAL |
|
4617.965 |
4570.811 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
92.014 |
84.999 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(19.695) |
(5.522) |
|
|
Employee benefit expense |
|
2173.262 |
2025.783 |
|
|
CSR expenditure |
|
32.600 |
21.900 |
|
|
Other expenses |
|
815.141 |
761.652 |
|
|
TOTAL |
|
3093.322 |
2888.812 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1524.643 |
1681.999 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
4.475 |
8.141 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1520.168 |
1673.858 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
90.619 |
93.482 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
1429.549 |
1580.376 |
|
|
|
|
|
|
|
Less |
TAX |
|
414.396 |
467.177 |
|
|
|
|
|
|
|
|
Total profit (loss)
for period before minority interest |
|
1015.153 |
1113.199 |
|
|
|
|
|
|
|
|
Profit (loss) of minority interest |
|
(25.867) |
(13.792) |
|
|
|
|
|
|
|
|
Total profit (loss)
for period |
|
989.286 |
1099.407 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
37.66 |
42.49 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
254.664 |
261.140 |
264.025 |
|
Reserves & Surplus |
1833.465 |
1693.306 |
3108.009 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2088.129 |
1954.446 |
3372.034 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2491.208 |
2690.445 |
2645.849 |
|
|
|
7.998 |
(1.658) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2491.208 |
2690.445 |
2645.849 |
|
Profit/ (Loss) |
707.391 |
1086.787 |
933.156 |
|
|
28.40
% |
40.39
% |
35.27
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF BUSINESS OPERATIONS
During its two decades of engineering excellence, the Company has continued to operate and excel in the niche area of embedded research and development addressing verticals such as aerospace and defense, consumer electronics, healthcare, home and automation, medical devices, semiconductor, security and surveillance. During the year, the Company on a standalone basis, has continued with its growth rally and recorded a good revenue performance. The Company’s revenue from operations scales to INR 2645.849 Million as compared to INR 2690.445 Million during the previous year and net profit after tax decreases to INR 933.156 Million during the current year from INR 1086.787 Million in the previous year.
FUTURE OUTLOOK,
COMPANY PLANS AND EXPANSION PROJECT
The Company is eying on implementing a strategy with an objective of building an organization with utmost transparency in its dealings and simultaneously maintaining its core value of Customer First.
The Company has devised a plan toalign business around the Product Engineering Services. Further, the Company will continue to have special focus on growing international markets other than USA. They believe that going forward these economies can generate significant business potentials for the Company.
The future road-map of the Company will remain highlydependent on how wellthe Company embraces emerging technologies, increases customer-centricity, deepens focus on new markets as mentioned above and adopts new and customer-centric business models. This growth strategies led by innovation is becoming more mainstream and we believe that their Company is now well poised for growth with its talented engineering resources.
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G67422295 |
10512256 |
Standard Chartered Bank |
03/07/2014 |
22/11/2017 |
- |
687000000.0 |
Abhijeet ll,Ground Floor,Near Mithakhali Six Roads Ahmedabad GUJARAT 380006 INDIA |
|
2 |
B79796777 |
10279955 |
Axis Bank Limited |
22/03/2011 |
18/06/2013 |
- |
350000000.0 |
TRISHUL 3RD FLOOR OPPOSSITE SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGE AHMEDABAD GUJARAT 380006 INDIA |
|
3 |
G53980330 |
10261303 |
STANDARD CHARTERED BANK |
28/12/2010 |
- |
22/09/2017 |
60000000.0 |
ABHIJEET - II, GROUND FLOORNR. MITHAKHALI SIX ROADS AHMEDABAD GUJARAT 380006 INDIA |
|
4 |
G53980504 |
10261140 |
STANDARD CHARTERED BANK |
28/12/2010 |
- |
22/09/2017 |
60000000.0 |
ABHIJEET - II, GROUND FLOORNR. MITHAKHALI SIX ROADS AHMEDABAD GUJARAT 380006 INDIA |
|
5 |
G54143813 |
90095422 |
INDUSTRIAL CREDIT & INVESTMENT CORPORATION OF INDIA LIMITED |
31/12/2004 |
- |
19/09/2017 |
425000.0 |
AHMEDABAD AHMEDABAD GUJARAT INDIA |
|
6 |
B86563780 |
10279337 |
Axis Bank Limited |
22/03/2011 |
05/03/2012 |
09/10/2013 |
90000000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGE AHMEDABAD GUJARAT 380006 INDIA |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
WEBSITE DETAILS
NEWS/ PRESS RELEASES
ARROW ELECTRONICS STEPS
UP IOT FOCUS WITH EINFOCHIPS ACQUISITION
05.01.2018
Global electronics component distributer Arrow Electronics has acquired product engineering and software services company eInfochips for a reported $284 million.
EInfochips has headquarters in both San Jose, California and Ahmedabad, India and was founded by Intel chip designer Pratul Shroff in 1994 to offer high-tech design services such as chip design. The value of its purchase by Arrow Electronics has not been officially disclosed, but India’s Economic Times reported it as being INR 18000.000 Million, or around $284 million. The deal is expected to close in late January.
Arrow’s decision to acquire eInfochips signals that IoT will continue to be a big focus for the company in 2018. In a statement, Michael Long, Arrow’s CEO, president and chairman, said that the purchase will advance the company’s IoT strategy, expand its offerings and help it move into what he called “a growing IoT services market.”
He added that the acquisition will add over 1,500 IoT solution architects, engineers and software development resources to Arrow’s “already leading position in IoT design services”.
Complementary
portfolios
Certainly, eInfochips’ track record in designing chips for IoT products will be a boost for Arrow. The acquired company has customers across the retail, industrial automation, healthcare and aerospace industries, while Arrow already has its own IoT portfolio, ‘Sensor to Sunset’, providing smart device makers with the sensors, wireless connectivity, gateways, analytics and security technologies they need to build their products.
Now, Arrow will be able to add eInfochips’ tools around engineering, embedded software development, mobile device connectivity and security and app development into its repertoire.
“Arrow has redefined design engineering with our industry-leading eDesign digital platform. Customers now collaborate on Arrow.com with hundreds of online-enabled engineers. Our engineers help customers with online reference designs, cloud-based design tools, and our eDesign platform,” said Matt Anderson, chief digital officer of Arrow. “Connecting eInfochips’ IoT capabilities and engineers to our eDesign platform will substantially augment the scale of eInfochips’ services, delivered via digital tools, to Arrow’s 125,000 customers.”
Pratul Shroff of eInfochips said that he was “proud” that the acquisition had brought a $23.8 billion revenue Fortune 118 corporation to Ahmedabad, Gujarat, where many of the company’s staff are based. “This acquisition is also a testament to our engineering execution, expertise in connected devices and connecting them to the cloud, and the trust that our clients place in us. We are excited to join forces with Arrow to further add value to our clients across the world,” he said.
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 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
|
INR |
|
US Dollar |
1 |
INR 64.95 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
SWE |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.