MIRA
INFORM REPORT
|
Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
INFLOW TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
No.217, Tinity Meadows, Off |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.04.2005 |
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Com. Reg. No.: |
36095 |
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CIN No.: [Company
Identification No.] |
U51109KA2005PTC036095 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRI02354C |
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PAN No.: [Permanent
Account No.] |
AABCI3528B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Communication and Net Working Products, Information technology
products and services, Web/ internet based products and their accessories and
allied products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 87000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
No.217, Tinity Meadows, Off |
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Tel. No.: |
91-80-41265151 |
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Fax No.: |
91-80-41265152 |
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E-Mail : |
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Website : |
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Head Office : |
# 33 & 34,
Indiranagar 1st stage, Off 100 feet road, |
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Tel. No.: |
91 80 41151234 |
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Mobile No.: |
93425 84468 |
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Fax No.: |
91 80 41265152 |
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E-Mail : |
info@inflowtechnologies.com, jagadish.prabhakar@inflowtechnologies.com |
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Branches : |
Located at : v
Kolkata v
Mumbai v
Chennai v
v
v
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DIRECTORS
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Name : |
Mr. Byju Pillai |
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Designation : |
Director |
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Address : |
No.217, Trinity Meadows, Off Sarjapur road, Bellanour,
Bangalore-560037 |
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Date of Appointment : |
18.04.2005 |
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Name : |
Mrs. Devjani Pillai |
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Designation : |
Director |
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Address : |
No.217, Trinity Meadows, Off Sarjapur road, Bellanour,
Bangalore-560037 |
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Date of Appointment : |
18.04.2005 |
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Name : |
Mr. Anal Jain |
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Designation: |
Director |
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Name : |
Mr. Srinivasan Krishnamurthi |
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Designation: |
Director |
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Name : |
Mr. Romesh Madhok |
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Designation : |
Director |
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Name : |
Mr. Anand Gopalakrishnan |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. Byju Pillai |
5000 |
|
Mr. Devhani Pillai |
5000 |
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Total |
10000 |
As on 31.03.2006
|
Names of Shareholders |
No. of Shares |
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Directors or their relatives |
43.48 |
|
Other top 50 shareholders |
56.52 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Communication and Net Working Products, Information
technology products and services, Web/ internet based products and their
accessories and allied products. |
GENERAL INFORMATION
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Bankers : |
UTI Bank Limited, No.09, MG Road Branch, M
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Siddaiah And Ram Chartered Accountants |
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Address : |
32/2, First Floor, Lalbagh Main Road, Bangalore-560027, Karnataka |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2070000 |
Equity Shares |
Rs.10/- each |
Rs.20.700
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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20.700 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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1.197 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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21.897 |
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LOAN FUNDS |
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1] Secured Loans |
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17.479 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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17.479 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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39.376 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.232 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
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|
0.868 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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21.020 |
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Sundry Debtors |
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118.871 |
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Cash & Bank Balances |
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|
4.684 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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|
8.098 |
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Total
Current Assets |
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152.673 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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122.644 |
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Provisions |
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|
0.722 |
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Total
Current Liabilities |
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123.366 |
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Net Current Assets |
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29.307 |
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MISCELLANEOUS EXPENSES |
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|
1.969 |
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TOTAL |
|
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39.376 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
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Sales Turnover |
|
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224.469 |
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Other Income |
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|
0.555 |
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Total Income |
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225.024 |
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Profit/(Loss) Before Tax |
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|
0.956 |
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Provision for Taxation |
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|
(0.241) |
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Profit/(Loss) After Tax |
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|
1.197 |
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Earnings in Foreign Currency : |
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Export Earnings |
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Commission Earnings |
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Other Earnings |
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Total Earnings |
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Imports : |
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Raw Materials |
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Stores & Spares |
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204.975 |
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Capital Goods |
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Others |
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Total Imports |
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Expenditures : |
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Cost of Goods Sold |
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Manufacturing Expenses |
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Administrative Expenses |
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Raw Material Consumed |
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Purchases made for re-sale |
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Consumption of stores and spares parts |
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221.909 |
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Increase/(Decrease) in Finished Goods |
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Salaries, Wages, Bonus, etc. |
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Managerial Remuneration |
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Payment to Auditors |
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Interest |
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Insurance Expenses |
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Financial Charges |
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|
1.618 |
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Depreciation & Amortization |
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|
0.541 |
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Total Expenditure |
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|
2.159 |
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KEY RATIOS
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PARTICULARS |
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|
31.03.2006 |
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PAT / Total Income |
(%) |
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0.53 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.42 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.59 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.43 |
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Current Ratio (Current Asset/Current Liability) |
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1.24 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
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Name of the company |
INFLOW TECHNOLOGIES PRIVATE LIMITED |
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Presented By |
UTI BANK LIMITED, M G ROAD BRANCH, M |
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1) Date and
description of instrument creating the change |
Date : 18.05.2005 Agreement of
hypothecation of current assets |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.25.000
millions |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation by
way of first charge on all the stocks in trade both present and future
consisting stock including raw materials, stock in process and other current
assets whatsoever, being movable properties now or at any time hereafter
belonging to the borrower’s or at my/ or disposal and now or at any time and
from time to time hereafter stored or to be stored or brought into or upon or
in course of transit to my/ our factory or premises or at any other place
whatsoever and whersoever in my / out possession or occupation or at any
other premises or place (all of which hereinafter collectively referred to as
current assets) and outstanding monies, receivable, claims and bills which
are now due and owing or which may at any time hereafter during the
continuance of this security be come due and owing to the borrower in the
course of its business by any person, firm, company or body corporate or by
the Government body or authority or any body corporate or undertaking or
project whatever in the public sector (all of which hereinafter collectively
referred to as the said debts) as continuing security. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of interest
: PLR – 0.20 bps presently 11.8% per annum with periodical rests and/ or at
such rates and rests as may be specified by the bank from time to time. Margin
: 25% on CC/LC. Repayment : On demand. Penal interest : 2% per annum. |
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5) Name and
Address and description of the person entitled to the charge. |
UTI Bank Limited MG Road Branch, M |
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6) Date and brief description of instrument
modifying the charge |
Not Applicable |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
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Corporation identity number or foreign company registrations number of
the company |
U51109KA2005PTC036095 |
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Name of the company |
INFLOW TECHNOLOGIES PRIVATE LIMITED |
|
Address |
No.217, Trinity Meadows, Off |
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This Form is for |
Modification of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder
|
UTI Bank Limited No.09, MG Road Branch, M |
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Amount Secure by the charge |
Rs.55.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Original charge dated 18.05.2005 regd.17.06.2005 D.07 for Rs.25.000
millions. Break up of limits – CC – Rs.20.000 millions and ILV – Rs.35.000
millions Rate of interest – Present aeffective rate 12.8% per annum with
periodical rests and/ or at scy rats and rests as may be specified by the
bank from tiem to time. Repayment : on demand Margin : 15% on LC, 25% on inventory and 40% on book debts. |
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Description of the property charge whether it is a charge on |
Plant and machinery Furniture and fixtures Stock in trade Book debts |
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Modification charge Charge identification number of the charge to be modified |
80010340 |
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Particulars of the Property charged
|
Hypothecation by way of first charge in favour of the bank on all the
goods, stocks, raw materials, plant , machinery, fixtures, implements, fittings,
other installations, furniture, computers, other articles, equipments,
things, book debts, outstanding monies, receivables, claims, bills,
contracts, securities, investments, rights and assets stored/ kept in the
borrower’s premise4s/ godown or wherever else the same may be. |
|
Brief description of the instrument modifying the charge |
Composite hypothecation deed |
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Date of instrument modifying the charge |
31.07.2006 |
|
Particulars of the present modification |
Amount increased from Rs.25.000 millions to Rs.55.000 millions
securities specified will cover the
entire credit facilities of Rs.55.000 millions by way of first charge. |
Website Details :
Background
As per
Customer needs are expected to drive higher growth rates in the
Information Management space & it is all set to take a bigger pie of the
overall IT market. While enterprises & corporate would adopt new
technologies with greater gusto,
Company
In today’s competitive environment, it is imperative for the enterprises
to cope up with the ever changing market place and constantly upgrading
technology. The problem the organizations face today is not acquiring and
storing data. Rather, it is turning that data into useful information that
enables them to better manage their businesses and seek competitive advantage.
Subject addresses the growing needs of the organizations to manage and
secure information more effectively and intelligently. "Information
Managers" at Inflow are well versed with the latest and the most powerful
technologies available today for locating, organizing, managing, retrieving,
analyzing, manipulating, protecting, and presenting information.
Being the fastest growing Information Management solutions provider in
India and focusing on Technology Enablement and Distribution of Information
Management Products, Solutions and Services, Inflow tied up with the giants of
Information Security and Information Management within a few months of its commencement
to cater to the » Information Security » Storage Management » Information
Intelligence and Analytics » Performance Products » Virtualisation » Human
Skill Assessment » Information Security Professional & Education Services
through leading System Integrators and Resellers.
Operating on this unique "Technology Enabler" model, designed
to work closely with Technology Partners, Channel Partners and Customers,
Inflow blends business development, channel development, channel management,
technical and technology support, marketing and supply chain management through
focused personnel spread across 12 locations nationally & internationally
with its headquarters in Bangalore.
Inflow is a professionally managed company with a management team having a
collective industry experience of more than 200 man years. The Board of
Directors constitutes 3 independent Directors, who are Industry veterans and 2
Executive Directors. All employees are stakeholders in the company thus
ensuring long term commitment to the business. In addition to the
employee-investors, Inflow has 4 external investors.
Inflow-Mission
To be the leading "Information Management" Solutions &
Services company - enable their customers adopt new technologies & to use
"Information" effectively to create business strategies and be
productive, efficient & competitive.
Inflow-Vision
To attain leadership in providing cutting edge Information Management
"Products & Solutions "to customers in South Asia and Information
Management "Services " to customers globally.
INFLOW SOLUTION
OFFERINGS
For Organizations, data is growing exponentially & IT Strategy has
become an integral part of the overall Business Strategy. This is throwing up
continuous internal & external challenges to CIOs and managing digital
assets continues to be a complex puzzle. Implementing various "Information
Management" Solutions & products is going to be the key focus for
Enterprises, Corporates & SMEs.`
Organizations rely on Information Management Solution Providers to deliver
solutions that inspire confidence when connecting their businesses with
external employees, customers and partners around the world. Inflow
Technologies and its partners endeavor to provide organizations with the most
advanced technology solutions and services possible. Inflow has partnered with
the best-of-breed vendors in the area of Information Management to provide
leading-edge, comprehensive, integrated and interoperable enterprise solutions.
Inflow's Key partnerships include industry leaders such as:
v
Allied Telesis
v
Bakbone
v
Check Point
v
McAfee
v
NetApp
v
Ironport
v
netiq
SERVICES
The Inflow Professional & Educational Services initiative provides
insight through its in-depth knowledge, action that brings the enterprise
solutions to life and an eye on results that matter. They assess their
relationship with their customers from a holistic, cyclical view - not just a
single point-in-time solution to meet a momentary need. Wherever you are in the
cycle, Inflow brings in services that create real business solutions for real
business needs.
Other actualization services available to the customer through post-sale
consultancy services provided by highly skilled and certified Technical
consultants and information management engineers. Their customers can also
avail their robust support and services maintenance through Inflow's
Subject through its AIMES, offers its customers a host of Professional
& Educational services highlighted in this overview:
Assessment
Services:
v
Vulnerability Assessment & Penetration Testing
v
Application Security Assessment & Code Review
v
Firewall Security Assessment
v
Risk Assessment & Analysis
v
Computer Forensics Investigation
v
ISO-27001 Preparation services
v
Controls & Assurance services
Implementation
Services:
v
Enterprise Firewall & VPN solutions
v
Intrusion detection & prevention systems
v
High Availability & Load Balancing solutions
v
Acceleration & Bandwidth management solutions
v
End point security solutions
v
Messaging & E-Mail security solutions
v
URL filtering & reporting solutions
Maintenance
Services:
v
RMA Hosting – NBD hardware replacement service for
security appliances
v
Inflow TAC – Technical Support Service for security
solutions
v
Security Expert Services – Outsourcing Security
consultants to enterprises
Educational
Services:
v
Check Point CCSA & CCSE ATC training
v
Nokia NSA foundation & HA ATC training
v
EC-Council - Certified Ethical Hacker ATC training
v
Training for aspirants for CISA & CISM
v
Training for aspirants for CISSP
v
Training for aspirants for CBCP
v
Workshop on SOX, Digital Evidence and BCP&DRP
v
Workshop on Ethical hacking & Counter Measures
v
Workshop on COBIT
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.24 |
|
|
1 |
Rs.83.04 |
|
Euro |
1 |
Rs.55.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|