NUCLEUS SOFTWARE EXPORTS Share price

The Company was incorporated on 9th January 1989 as NucleusSoftware Exports Pvt. Ltd and was subsequently converted into aPublic Limited company on 10th October 1994. NSEL was promotedby three enterprising technocrats Mr. Yogesh Andlay Mr. Vishnu R.Dusad and Mr.Arun Jain with an object to deliver quality InformationTechnology Solutions to the business world. The company''s businessbroadly consists of Software development and Support services forcorporate business entities.The company started its operations in 1989 and has been completelyinvolved in software exports since its inception. During last five yearsit has handled projects for Clients in Financial Manufacturing andTransportation industries. NSEL has handled projects in client serverenvironment using ORACLE SYBASE ACCESS WATCOM SQLas database engines and Gupta-SQL WlNDOWS POWERBUILDERVISUAL BASIC as clients. These have been implemented for variousclients in Singapore Indonesia Thailand Australia andUAE. Thecompany has developed these systems in India and after an integratedtesting implemented them at overseas customer locations. NucleusGroup has established itself in Software development for the financialservices sector incompassing retail banking credit cardand leasing. The first assignment Nucleus Software Exports handled was toprovide onsite support to the data centre of a large multinational bankat Indonesia using IBM AS400 computers. NSEL has been workingwith this client till date and has defined future plans for the next twoyears.NSEL has also developed a Sales Information System usingPOWERBUILDER for the largest softdrink manufacturer at BangkokThailand. This system handles propagation of information throughdifferent levels of organizational hierarchy spanning not only countriesbut different continents.NSEL has also developed a lease-accounting system using ORACLEfor a leasing company at Indonesia. This system was designed anddeveloped in India and then taken to Jakarta forimplementation. Thissystem is now being supported from India and company has contractfor supporting its operations for next three years.The list of Software Developed by Nucleus Software Group includesFinancial Accounting Sales Accounting and Inventory Control RetailSystem for Super Market Container Loading System IntegratedRetail Banking System Telebanking Credit Cards System IntegratedLeasing System and Tourist Information Terminal etc.NSEL has also promoted on 25th February 1994 a wholly ownedsubsidiarycompany Nucleus Software Solutions Pte. Ltd. inSingapore. The company has marketing office at Singapore.This has contributedsubstantially in the turnover of the company and have also helped thecompany in marketing of software developed in India.The company has not faced any closure/labour problem in the past.FINANCIAL HIGHLIGHTS OF THE COMPANY''S PAST PRFOR-MANCE(Rs. in lacs)Period Ended31.3.go 31.3.91 31.3.92 31.3.93 30.06.9428.2.95(15 months) (8 months)Total Income2.0830.8153.4357.22149.15280.78PBDIT.0519.0430.2022.8487.35171.44Depreciation0.000.00.59.742.442.52Interest0.000.000.000.000.000.00Profit Before Tax0.0519.0429.6122.1084.91168.92Taxation0.030.131.341.754.030.00Profit After Tax0.0218.9128.2720.3580.88168.92Dividend-.90.60.60.15-Retained Earnings0.0218.0127.6719.7580.73168.92Share Capital0.600.600.600.601.40170.00Reserves & Surplus0.0218.0345.7065.45146.20170.48Networth0.6218.6346.3066.05147.60340.48Book Value perShare (Rs.)10.33308.96767.831095.361049.0420.03EPS (Rs)0.00313.60468.82337.48574.8414.90 #DIvidend- 150% 100%100%25%-#Annualised*In the year 1993-94 company changed its financial year endingfrom 31st March to 30th June.MAIN OBJECTS OF THE COMPANYThe main objects of the company as set out in its Memorandum ofAssociation (Memorandum) are as follows:1.To Carry on the business of Consultants trading manufacturingimporting exporting agents and distributors of systems studyanalysis design development and implementation of softwaresystems for usage computer systems communication systemsor combination of the compute rand communication systems andhardware of computer systems communication systems andproviding consultancy related to commercial and non-commer-cia usage engineering goods. electronics equipments and in-struments electrical goods and equipment and computers supplyof manpower for supporting software supplied to various com-mercial and non-commercial users.2.To carry on the business as manufacturers of fabricatorsassemblers processors and dealers of all kinds of computersaccounting and business machines transistors transformersreceivers conductors magnetic materials microwave compo-nents videogames tapes discs fittings switches and all hard-ware Software and peripherals thereto.3.To carry on the business of rendering Computer services forcommercial and non-Commercial users and to operate dataprocessing centres and training centers.SUBSIDIARY COMPANYThe company has established a wholly owned subsidiary at SingaporeNucleus Software Solutions Pte. Ltd. The company was incorporatedon 25.02.1994 with Registrar of Companies and business- Singaporeunder the name and style of `NUSOFT Pte Ltd.'' and subsequently thename of company was changed to its present name i.e; NucleusSoftware Solutions Pte. Ltd vide afresh certificate of incorporation dtd.16.04.94. It started its operations from 21st March 1994. The objectof promoting this subsidiary is to cater to the needs of the growingmarket of South East Asia and to have better marketing facility acrossthe globe. The subsidiary has been promoted in Singapore with anobjective of being close to the overseas markets of the company i.e.;Far East and South East Asia and making available a legal vehicle fordoing local business. Singapore has been chosen as the country forestablishing the first overseas subsidiary because most of the regionalheadquarters of Multinational Corporations are situated there.The Nucleus Software Solutions Pte. Ltd. Singapore started itsoperation in March 1994 and during last nine months of operationscompany has been able to achieve following:Higher accessibility and hence strengthening the relationshipwith the existing customers.Higher visibility to the prospective client base in the region.Starting of relationship with high potential clients.Starting of relationship with reputed research institutions such asInstitute of System Science Singapore.Access to the latest technology in Singapore marketplace.Strengthening of relationship with business partners such asOracle.Higher publicity to the organization and its products in theinternational press e.g. IT Asia Asia Pacific IT Times and TradeDirectories such as Times Guide to Singapore Computers andComputer Era.Excellent infrastructure setup in the form of well equipped officewith communication facilities like Internet and a staff of8 people. The audited financial data of subsidiary for period from 25.02.94 to28.02.95 is given below: A M O U N T In Singapore Dollar Rupee in LacsGross Income 688300 151.42Total Expenses 589603 129.71Profit Before Tax 98697 21.71Provision for Tax 27998 6.16Profit after Tax 70699 15.55(Coversion rate Rs. 22/- per Singapore Dollar)