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June 12, 2000

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 Company  Sark Systems India
 Market Price  Not listed
 Lead manager  Aryaman Financial Services
 Listing At  Hyderabad, Bangalore
 Opening/Closing  June 12, 2000 / June 17, 2000
 Promoters J Murali Krishna, J S R Durga Prasad
 Associate Co.  None
 Managing Director  J Murali Krishna
 Post-issue Stake  74.96%
 Issue  
 Size  Rs 14.6 million
 Price  Rs 10
 On Application  Rs 5
 On Allotment  Rs 5
 Objective  Upgrade hardware and software, set up software development center, set up a marketing office in the USA
 Business  
 Product  Software Development, Enterprise Resource Planning, Training
 Location  Hyderabad
 Project cost  Rs 44.45 million
 Funded by  Equity, internal accruals (negligible), term loan
 Kensource projections  (2001)
 Sales  Rs 29.76 million
 Profit  Rs 4.47 million
 Earnings per share  Re 0.76
 Return on equity  7%
 Comment The company's own projections are too fantastic.
 Rating *  D

* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid

By Kensource Information Services Pvt. Ltd.

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