Maars Software International Ltd Stock Analysis

Maars Software International was incorporated as a Public Company on August 23, 1995. The company obtained certificate of commencement of business on September 18, 1995. The company was promoted by T Varadharajan, a computer professional, R Rajagopalan and their associates. The company is an Information Technology (IT) company engaged in system integration and turn-key solutions for manufacturing industries. IT involves activities concerning computer software and hardware applications.

The company is presently involved in developing product specifications for medium sized manufacturing industries, developing customized application software for domestic clients in manufacturing sector and gaining expertise in implementation of Standard Application Software (SAP). The company has already installed 10 standalone personal computers with necessary software for carrying out its present activities.

Business area of the company

The company is an Information Technology (IT) company engaged in system integration and turn-key solutions for manufacturing industries.

Awards

The company has been awarded the Visvesvaraya Industrial Award by the Industrial Research and Development Trust of All India manufacturers' Organisation.

History

• 1995 - Incorporation of the company.
• 1995 - Entered into a Lease Agreement with N Visalakshi resident of 15, Giri Road, T.Nagar, Chennai.
• 1995 - Tied up with Siemens Information, the Indian representative of SAP.
• 1995 - The Company is the only software organization in the country offering training in SAP R/3 apart from SISL which represents SAP in India.
• 1996 - Entered into a Memorandum of Understanding (MOU) with Cooks Systems Inc., at Memphis, TN, USA towards joint execution of various projects in USA.
• 1996 - The company has obtained necessary approvals from Reserve Bank of India (RBI) and Ministry of Law, Justice and Company Affairs to set-up a wholly owned Subsidiary in USA to enhance market reach and initial activities have already been commenced.
• 1996 - Entered into Strategic Business Relationship with the organizations in Middle East, Singapore, Thailand and UK.
• 1997 - The company made a major breakthrough in the ERP segment by launching its first ERP Product Maarsman, a Manufacturing Solution for small and medium scale industries.
• 1997 - Entered into an MOU with Aptech for Marketing Maarsman at the National Level.
• 1997 - Hi-Tech Software Services Inc. the wholly owned subsidiary of the company has established itself as a growing software consulting firm in the United States.
• 1998 - The company expanded its overseas operations by setting up wholly-owned subsidiaries in the United Kingdom, Singapore and Australia.
• 1998 - The firm was also in the process of entering into tie-ups with global players to offer integrated services covering areas like e-commerce and supply chain management.
• 1998 - It has a tie-up with Standard Application Product AG, Germany through Siemens. It has also established a SAP centre of excellence in the city.
• 1998 - The company has also developed manufacturing solution software, Maarsman for small and medium-scale industries. It covers the entire spectrum of manufacturing activities. It has a tie-up with Aptech for nationwide marketing.
• 1998 - Maars Software is engaged in system integration and turn-key solutions for manufacturing industries. The company is at present involved in developing product specifications for medium-sized manufacturing industries, developing customized application software for domestic clients in manufacturing sector and SAP implementation.
• 1999 - Maars Software International is setting up a software technology centre at Padur for enterprise resource planning (ERP) and euro currency related projects.
• 1999 - The company had set up an electronic commerce training center. Similar centers to be started in Bangalore and Baroda within a week.
• 1999 - Tied up with IBM as their First e-business ATP.
• 1999 - The company initially established a subsidiary at Charlotte, US, and has subsequently set up branch offices at Chicago, the US and Singapore. During the year it was setting up one more office at Atlanta, the US, London, the UK and Sydney, Australia.
• 1999 - Entered into an agreement with CCG GmbH of Germany for implementing and supporting SAP projects in Europe. Maars commenced operations in the area of e-business as IBM ATP and set up centres in Chennai, Bangalore, Baroda, Vijayawada and Coimbatore.
• 2000 - Maars signed up with Pratt & Whitney and KPMG, UK for ongoing implementation support and took up projects with them. MAARS became solution partner for Oracle in the Middle East and bagged three orders for implementation of Oracle Financials and Manufacturing in Jordon and Dubai.
• 2000 - The company launched its new product Esteem Payroll in the UK market under Systematic brand name.
• 2000 - Signed an agreement with Oracle Corporation in West Asia as CSP.
• 2000 - The company launched Maarsman compact, a plug-in-play ERP product for small industries.
• 2000 - Entered into telecom segment, with an offering of ‘Auantum: Settlement’ - an interconnection settlements management system for national and international calls that provides for fast, flexible and accurate billing, verification and settlements.
• 2000 - The Chennai-based Maars Software International was awarded the Visvesvaraya Industrial Award by the Industrial Research and Development Trust of All India manufacturers' Organisation.
• 2001 - The Company formed a joint venture with AlYusuf Group of Muscat to tap the Middle-East and North African markets for financial and insurance software services.
• 2001 - Two Chennai-based software companies, Maars Software International and Mascon Global, are to merge, effective from January 1.
• 2002 - Maars Software International informed that N R Kumar, Director of the company had resigned citing personal reasons from the Board of Directors of the company.
• 2003 - The company informed that T V Subramanian, Director of the company had resigned from the Board of Directors of the company
• 2003 - The company informed that G Muralidharan and P Anand had been appointed as Additional Directors of the company.