|The Company was incorporated on 06th Oct, 1987 as Artefact
Leasing & Finance Pvt. Ltd., with the Registrar of
Companies Bombay, at Maharashtra. The name was subsequently
changed to Artefact Software & Finance Limited vide special
resolution dated 25-10-1994 and afresh certificate of
incorporation consequent to change in name was issued on
The Company was promoted with the main object of Leasing,
Hire Purchase, Financial Services, Data Processing, etc.
The Company started it's operation with a small equity base
of Rs.4.56 lacs and the Company was engaged in the business
of Leasing & Data Processing activities. It decided to
substantially increase it's operations in 1994 with an
ambitious expansion & diversification plan into Software
Manufacturing Unit & Financial services.
M/s. Data Process, a Registered Small Scale Manufacturing
unit. A Division of Artefact Software & Finance Ltd. is an
established data processing unit Catering to mainly
industrial clients for Project Reports, Financial
Accounting, Management Consultancy & Equity Research
Analysis. Keeping in view the vast potential in Financial
Services, the Company intends to enhance it's activities in
these field, by increasing the Share Capital through Public
The Company is already engaged in these activities and have
infrastructure which needs to be broad based.
THE COMPANY'S ACTIVITIES
A. SOFTWARE MANUFACTURING UNIT:
1. SOFTWARE EXPORTS
The Company has plans to develop application software
packages like equity related Software & Software for
portfolio, Banking, Forex Risk Management, Investment
opportunities in India, Software for commercial systems,
MIS etc., and market it abroad. The Company has projected
very modest receipts from software exports, but the future
in software exports is very bright. A qualified graduate
with MBA is to head the team for software development along
with two Deputy Managers, under the over all charge of
director MR. PANKAJ SHAH (BE Mech.).
The Company also plans to export it's equity research
papers, macro level economic data for FII's entering India.
The Company has already subscribed to membership of
ESA-IRS-Ti-facline, a technological and commercial data
base of European Space Agency.
The Company has commenced software development activity on
receipt of firm enquiries for software for applications on
office management, hotel management, solicitor's database &
building Society maintenance software.
2. EQUITY RESEARCH
The Company has already started it's equity research
activity and it shall develop a fullfledged research team.
The research team currently focusses on various industries
and macro economic developments. It has developed an
inhouse software named 'INFO' which helps in maintaining
and retrieving a steady information flow for their equity
research and overall corporate advisory services.
MR. MANOJ SHAH, Managing Director heads the 'Capital Market
Cell' of Vidarbha Industries Association which is
spearheading the spread of equity cult and corporate
functioning amongst all emerging small and medium sized
units in Central India. The Company shall be shortly
acquiring research related software from the Market &
Professional Agencies, besides inhouse software
The Company has already developed for exports, a portfolio
Present Equity Research facilities
At present, the Company's Equity research is based upon
it's professionals & certain inhouse programme and data
base developed by the Company. However, the Company is to
strengthen it's present Database and Software with any of
the suitable on line databases like DaRT/PRIME, etc. The
Company also proposes to subscribe to overseas Databases.
The Company's research division activities include keeping
track of day to day market rate movement and trends of
various earmarked and invested securities. The securities
have predetermined buy/hold/sale levels taking into account
the fundamentals of the Companies.
The fundamental analysis of the Company is done on various
criteria like cost per unit of capacity, profitability of
the Company versus industry and competitors, product
superiority, personal market feed back of the Promoters and
the management dealings, trend of profitability, stake of
financial institutions, profitability ratios compared to
industry averages, etc. The Company has devised suitable
formats where these information is fed and proper retrival
of this information is possible on various sorting criteria
or fields for decision making.
The Company also has developed an inhouse software called
'Info' which records the industry & Macro Economic
Developments. This information is retrivable on any field
and criteria like Industry, Company Name, Sub Heading,
subject, Chronological Date, source of information, etc.
The Company has also developed a portfolio management
accounting software for maintaining the individual
investment portfolio and accounting for trading in
The Company has a well developed team of market
intelligence which gathers information regarding various
stock market movements and information on various
companies. Mr. K.J. Shah, Director of the Company and BSE
Member, is also well versed with various day to day
developments of stock market information.
The Company subscribes to various stock market journals &
magazines to keep the information up to date.
The Company's proposed acquisition of Software and Database
will ensure complete range of information regarding on-line
capital market movements.
The Company has already received firm enquiries from
certain NRI's/OCBs/FII's regarding rendering Research Based
Analysis & Advice for their investment portfolios in Indian
3. CAPITAL MARKETS & CORPORATE ADVISORY SERVICES
The Company shall provide Corporate Advisory services,
execute placements of debt & equity instruments, Capital &
Balance Sheet restructuring, issue management and advice in
other fund based investments in the primary market.
The Company proposes to commence primary & secondary
portfolio advisory services for its NRI and Indian clients.
The Promoters have very good contacts in Central India and
abroad to render these services to a large base of
clientele. Few of the reputed business groups & individuals
are the clients of the Promoters for rendering these
services. The Company's equity research and economic
research team shall be very gainfully utilised. The Company
has developed a young team of Finance Professionals to
strengthen their corporate and Capital Market/Portfolio
B. FINANCE ACTIVITIES:
1. EQUITIES TRADING
The Company has already started and it shall actively trade
in the primary and secondary equity markets. Based on it's
inhouse detailed research of Companies and Industries, the
Company identifies scrips for long term and short term
investment. The position of each scrip shall be reviewed
periodically under a perfectly developed portfolio MIS to
ensure that they are within the strict parameters laid down
as a part of the risk management systems and also to aid
'Buy/Sell/Hold' decision making.
Besides, the possibilities of investment bought outs on OTC
& Main Stock Exchanges together with co-investment in
bought out deals of reputed Investment Bankers can also be
done by the Company, with it's sound research base. One of
the Directors of the Company is a reputed BSE Member, whose
expertise shall be of immense use to the Company's equity
The Company upto 31/03/1995 has already executed securities
trading in secondary markets & has earned a gross income of
Rs.30.08 lacs. Besides, the expert guidance of Mr. Kirti J.
Shah, Member, Bombay Stock Exchange together with the
Company's own research strength is sufficient to cater to
the equity trading requirements projected with a fund base
of Rs.100 lacs initially in the project cost. The Company
also receives profitable offers for investments through
it's associate Merchant Banking company, M/s. Vidarbha
Holdings Pvt. Ltd.
2. LEASING & HIRE PURCHASE
The Company is to make it's presence in the Leasing and
Hire Purchase market. The leasing activity is mainly
beneficial for tax-planning. Hence, the Company proposes to
enter into tie-ups with manufacturers whose depreciable
products can be leased out to their customers. The Company
also proposes initially to enter into 'Lease Portfolio
Management Scheme' of existing leasing companies by which,
the Company can obtain all the benefits of the established
Company's infrastructure and also gain by way of tax
shelter available in the said lease.
Later on, the Company may leverage it's Equity Capital/Net
Worth with low cost funds as loans and try to gain a
substantial arbitrage after development and establishment
of full fledged leasing infrastructure. Public Sector
Leasing and core sector leasing are planned to be explored
by the Company.
The Company has received firm offer letters from clients &
various companies to avail lease finance to the extent of
around Rs.235 Lacs and existing finance companies have
offered to enter into a Memorandum of Understanding (MOU)
under their 'Lease Management Portfolio' scheme to the
extent of Rs.1.50 Crores. Thus, the Company already has a
tie-up of leasing business of around Rs.4 crores, far
exceeding it's projected leasing business of Rs.1.50 Crores
in the first year itself and for the period ended 31st
March, 1995 the Company has leased assets of Rs.39.90 lacs
& earned lease rentals of Rs.4.07 lacs.
The Company has already obtained a loan sanction from
Central Bank of India, Main Branch, Nagpur for Rs.100 lacs
for its leasing and hire purchase activities vide letter
No.CM.CR.51.NO.94-95.332 dated 10/03/1995.
The Company proposes to resort to short term lending on
CD'S/Deposits/Loans to maintain the necessary liquidity of
funds. These Loans/deposits are Projected at 15% to 20% of
the funds available for the Company. In case the Company
accepts ICD'S or Public deposits, then the Company has to,
by RBI regulations, maintain 15% of such deposits in
Government approved securities/bonds/loans.
THE COMPANY'S INVESTMENT PORTFOLIO SHALL BE DISTRIBUTED AS
FUND BASED OPERATIONS:-
a) Primary & Secondary Shares Investments
A substantial return is expected from these activities, due
to it's inherent strength of a Director being BSE & NSE
Member, strong equity research base, professional team a
selective participation in bought out deals/firm
The Company also plans to take an OTC Counter and obtain
NSE Sub-broking counter for trading at Nagpur in near
b) Leasing & Hire Purchase
To the extent required for Tax & Finance planning.
c) ICD's & Loans
To the extent of short term liquidity requirement of the
NON-FUND BASED OPERATIONS-THRUST AREAS:
a) DTP & Software Exports
With an Fixed Assets Investment of Rs.100 Lacs approx
proposed in this area of activity, and an expert manpower
working for it's success, the Company can rely on these
areas as a thrust area for a healthy bottomline, from it's
non fund based activities.
b) Corporate Advisory Services
Because of the strong professional and technocrat
background of the Board, the Company shall stand to gain
substantially as corporate advisors. This would form,
together with DTP & Software Exports, one of the most
lucrative non fund based activity of the Company. The
Company has already tied-up some assignments for these
c) NRI Investment Advisory Services
The Company has in a short span of 2 months already tied-up
with few NRI Investors to provide primary investment
portfolio services on service charge basis. The Company,
with a strong equity research base proposes to capitalise
on this vast potential.
Thus, with a fundamentally strong and prudent mix of fund
based and non fund based activities, the Company is set to
make an impact on the financial scene. And last but not the
least, it is the men behind the project MANOJ SHAH & PANKAJ
SHAH, successful professionals who have created a name in
the professional circuit of Central India, and now have
decided to broaden their vision and horizon to National
Mrs Nithiyapriya Ramakrishnan is appointed as Company Secretary & Compliance Officer of the Company wef November 10, 2003.
- Company name has been changed from Artefact Software & Finance Ltd to Artefact Projects Ltd.