MIRA
INFORM REPORT
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Report Date : |
31.08.2007 |
IDENTIFICATION DETAILS
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Name : |
PYRO NETWORKS PRIVATE LIMITED |
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Registered Office : |
8-2-293/82, Road Plot No.92, Jubilee Hills, |
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Country : |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
15.05.2002 |
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Com. Reg. No.: |
1-38972 |
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CIN No.: [Company
Identification No.] |
U64203AP2002PTC038972 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDP02388B |
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PAN No.: [Permanent
Account No.] |
AACCP5961A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Developing telecommunication software solutions and providing
professional services |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 97632 |
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Status : |
Good |
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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 fine track.
Available information indicates high financial responsibility of the company.
Directors are reported as experienced, respectable and resourceful
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings. |
LOCATIONS
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Registered Office : |
8-2-293/82, Road No.92, Jubilee Hills Co – operative, House Building
Society Layout, |
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Tel. No.: |
91-40-55226198 / 65226198 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. S M Reddy |
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Designation : |
Directors |
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Address : |
504, Shreeji Mehta, Park, Rasool Pura, |
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Date of Birth/Age : |
16.11.1970 |
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Date of Appointment : |
15.05.2002 |
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Name : |
Mr. S P Reddy |
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Designation : |
Director |
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Address : |
503, |
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Date of Birth/Age : |
16.09.1943 |
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Date of Appointment : |
12.01.2004 |
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Name : |
Mr. B V Shekhar Chandra |
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Designation : |
Director |
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Address : |
403, |
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Date of Appointment : |
15.05.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. S M Reddy |
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37925 |
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Mr. B V Shekhar Chandra |
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54575 |
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Mr. Ravi Kumar Reddy |
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2500 |
Equity Share Break – up ( Percentage of Total Equity )
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Sr.
No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
100.00 |
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BUSINESS DETAILS
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Line of Business : |
Developing telecommunication software solutions and providing
professional services |
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Products : |
Electronic Voucher Management System InRoam Interconnect Reconciliation Engine Location Based VAS Me2U Missed Call Alerts Multiple MSISDN – Single IMSI Netinfo Network Configuration Management System Reverse Billing Server Roaming Controller Service / Call Tester Short Message Service Centre ( SMSC) USSD Gateway VAS Delivery Platform |
GENERAL INFORMATION
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Customers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Satyanarayana Raju and Company Chartered Accountants |
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Address : |
8-2-120/86/9/A/34, Plot No. 34, Raot Raju Colony, Room No.2, Ranjana
Hills, Hyderadbad – 500 034, Andhra
Pradesh, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.10/- each |
RS.2.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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95000 |
Equity Shares |
Rs.10/- each |
Rs.0.950
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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4.631 |
4.631 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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19.777 |
2.051 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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24.408 |
6.682 |
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LOAN FUNDS |
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1] Secured Loans |
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0.786 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.053 |
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TOTAL BORROWING |
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0.786 |
0.053 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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25.194 |
6.735 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.025 |
0.963 |
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Goodwill |
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0.020 |
0.020 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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36.073 |
24.563 |
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Cash & Bank Balances |
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2.763 |
0.534 |
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Other Current Assets |
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1.738 |
0.047 |
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Loans & Advances |
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2.221 |
0.199 |
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Total
Current Assets |
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42.795 |
25.343 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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22.694 |
19.673 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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22.694 |
19.673 |
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Net Current Assets |
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20.101 |
5.670 |
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MISCELLANEOUS EXPENSES |
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0.048 |
0.082 |
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TOTAL |
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25.194 |
6.735 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover |
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61.609 |
32.018 |
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Other Income |
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0.014 |
0.000 |
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Total Income |
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61.623 |
32.018 |
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Profit/(Loss) Before Tax |
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18.405 |
5.069 |
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Provision for Taxation |
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0.679 |
0.263 |
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Profit/(Loss) After Tax |
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17.726 |
4.806 |
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Expenditures : |
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Depreciation |
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0.355 |
0.032 |
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Other Expenditure |
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42.508 |
26.885 |
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Total Expenditure |
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42.863 |
26.917 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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28.76 |
15.01 |
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Net Profit Margin (PBT/Sales) |
(%) |
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29.87 |
15.83 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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38.47 |
19.25 |
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Return on Investment (ROI) (PBT/Networth) |
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0.75 |
0.75 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.96 |
2.95 |
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Current Ratio (Current Asset/Current Liability) |
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1.88 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
Air conditioner
Computers
Furniture
Electricals Fittings
UPS
Cell Phone
Vehicles
Office Equipment
WEBSITES DETAILS:
Subject is a technology
driven organization, with a strong focus towards telecommunications and
networking domain. Their primary focus areas are developing telecommunication
software solutions and providing professional services. They believe in a
customer centric and employee driven approach to delivering optimal high value
solutions to global markets. They are headquartered at
In Today's rapidly evolving technology environment, the key word is
'convergence'. The convergence of the 'computing and communications' and
'networks and applications' segments, have resulted in a larger and more
unified application domains. Pyro Networks is specifically addressing these
domains, with a high value expertise that is experience driven. There is a
focused IP initiative in place to share the benefits to their customers and a
consequent development of domain specific and technology driven high value
products and services. Pyro Networks currently has telecom domain specific core
utilities for signaling gateways, prepaid systems and network management
systems.
Quality
They believe that quality is a culture,
expressed in the way they interact with and cater to the needs of their
customers, and in the products and processes they deliver to them. So while
they have met several external quality parameters, they are even more stringent
about setting and meeting their own exacting standards.
Processes
Their process models span the complete spectrum of evolving customer
requirements. From development to maintenance, their robust systems deliver
assured, predictable results and minimize risk.
People
Their enthusiastic,
committed and responsive people are driven by client success. Purposeful
processes align people power with customer needs while systems for talent transformation
create a culture that continually motivates everyone to push the bar.
Knowledge Management
Pyro's Knowledge Initiative (KI), apart from managing the existing knowledge
resources of the Company, also fosters a culture of creating and sharing knowledge
across the organization.
Their solutions provide high ROI to their customers by:
• Efficient
management of information for better and faster decision-making.
• Reducing
the cost of knowledge acquisition and retention through powerful collaboration
and search tools.
• Leveraging
on reusable components to save on time and costs.
They strive hard on acquiring, sharing and enriching their knowledge.
Group Companies
Everyday, nearly one
and a half billion people around the world rely on their mobile phone.
Increasingly, these mobile consumers are using their phones to keep them in
touch with multimedia information and entertainment. As the leader in mobile
media and online media and music subscription services, Pyro Mobile is uniquely
positioned to help you turn this mobile revolution into a revenue stream.
Pyro Mobile
Pyro Mobile provides the distribution channels and operator relationships to
enable media companies and other content providers to reach millions of mobile
subscribers worldwide. It can be difficult for content providers to reach a
large enough audience in this early market while also navigating and managing
the complexity of launching services with multiple operators to a variety of
different handsets. Pyro Mobile turns these challenges into opportunities to a
variety of their content partners. Pyro Mobile has unrivalled expertise in
delivering premium services to the largest number of mobile consumers. This
isn't something that will happen in the future-it's what Pyro Mobile has
created today.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.96 |
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1 |
Rs.82.55 |
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Euro |
1 |
Rs.55.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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60 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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