MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ENTEG INFOTECH PRIVATE LIMITED |
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Registered Office : |
No. 3/4, 3rd Floor, Maruthi Towers, Hosur Main Road,
Madiwala Extension, Bangalore – 560 068, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.07.2003 |
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Com. Reg. No.: |
08-32290 |
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CIN No.: [Company
Identification No.] |
U72200KA2003PTC032290 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRE03680F |
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PAN No.: [Permanent
Account No.] |
AABCE2733L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Software Development Services |
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 130000 |
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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 company having fine track. Financial position of the company can be regarded as good. Trade
relations are fair. Payments are correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
No. 3/4, 3rd Floor, Maruthi Towers, Hosur Main Road,
Madiwala Extension, Bangalore – 560 068, Karnataka, India |
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Tel. No.: |
91-80-66360300 |
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Fax No.: |
91-80-66360352 |
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Website : |
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Corporate Office : |
No. 263, 21st Main, BTM 2nd Stage, 1st
Phase, Bangalore – 560 078, Karnataka, India |
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Tel. No.: |
91-80-25635898 / 66360300 / 66360641 / 26680928 |
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Fax No.: |
91-80-66360352 / 51201091 |
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E-Mail : |
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Branch Office: |
Located at ·
Mumbai ·
Singapore ·
North America |
DIRECTORS
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Name : |
Mr. Rajagopalan Babu |
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Designation : |
Director |
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Address : |
No. 128, 2nd Cross, 6th Block, Koramangala,
Bangalore – 560 095, Karnataka, India |
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Date of Birth/Age : |
05.06.1969 |
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Date of Appointment : |
21.07.2003 |
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Name : |
Mrs. Kalpana Maruthai |
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Designation : |
Director |
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Address : |
No. 128, 2nd Cross, 6th Block, Koramangala,
Bangalore – 560 095, Karnataka, India |
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Date of Birth/Age : |
19.11.1975 |
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Date of Appointment : |
21.07.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.07.2007)
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Names of Shareholders |
No. of Shares |
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Rajagopalan Babu |
9999 |
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M Kalpana |
1 |
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Total |
10000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of Director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Software Development Services |
GENERAL
INFORMATION
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Suppliers : |
·
Outsourced Consulting and Solutions Private Limited ·
Essar Associates ·
RICOH India Limited ·
Plus Business Machines Limited ·
Secure Network Solutions India Private Limited ·
Value Point Systems Private Limited ·
Login Infotech Private Limited ·
System Tech Inc. |
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Customers : |
·
ABB India Limited ·
Siemens Information Systems Limited ·
United Phosphorus Limited ·
Mind Tree ·
Apollo Health Street ·
Asian Paints ·
SAP India Limited ·
Tata Steel Limited ·
Bajaj Auto Limited ·
KLG Systel Limited ·
Titan Industries Limited ·
Suzlon Energy Limited ·
Satyam Computers Limited ·
Reliance Industries Limited ·
Ranbaxy Laboratories Limited |
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Bankers : |
State Bank of India HSBC Bank |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Narayanan Patil and Ramesh Chartered Accountants |
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Address : |
No. 103, Bridge Links, 1st Main Road, Seshadripuram,
Bangalore – 560 020, Karnataka, India |
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Tel. No.: |
91-80-23343014 / 23441114 |
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Fax No.: |
91-80-23448660 |
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E-Mail : |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
25.165 |
10.656 |
3.761 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
25.265 |
10.756 |
3.861 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.737 |
0.746 |
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2] Unsecured Loans |
0.662 |
0.000 |
0.157 |
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TOTAL BORROWING |
0.662 |
0.737 |
0.903 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
25.927 |
11.493 |
4.764 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.259 |
4.217 |
2.241 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.142 |
0.026 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
22.948
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12.718 |
3.545 |
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Cash & Bank Balances |
3.729
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2.658 |
0.752 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
13.588
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3.773 |
2.080 |
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Total
Current Assets |
40.265
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19.149 |
6.377 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
10.379
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3.767 |
1.750 |
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Provisions |
9.365
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8.141 |
2.116 |
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Total
Current Liabilities |
19.744
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11.908 |
3.866 |
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Net Current Assets |
20.521
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7.241 |
2.511 |
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MISCELLANEOUS EXPENSES |
0.005 |
0.009 |
0.012 |
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TOTAL |
25.927 |
11.493 |
4.764 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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84.266 |
36.250 |
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Other Income |
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1.215 |
2.010 |
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Total Income |
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85.481 |
38.260 |
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Profit/(Loss) Before Tax |
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21.645 |
10.862 |
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Provision for Taxation |
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7.136 |
3.967 |
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Profit/(Loss) After Tax |
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14.509 |
6.895 |
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Total Expenditure |
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63.836 |
27.398 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
16.97
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18.02 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
25.69
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29.96 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
47.55
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46.49 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.86
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1.01 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.81
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1.18 |
1.24 |
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Current Ratio (Current Asset/Current Liability) |
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2.04
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1.61 |
1.65 |
LOCAL AGENCY
FURTHER INFORMATION
Note
The Registered Address of the company has been shifted from No. 263, 21st
Main, BTM 2nd Stage, 1st Phase, Bangalore – 560 078, Karnataka,
India to the present address with effect from 29.01.2007.
Web Details
Business
Subject is an enterprise
established by a team of ex-SAP professionals with a visualization for
designing, building and managing the Enterprise solutions that deliver maximum
value for any organization. Subject Philosophy is to keep the Enterprise
Solutions simple and in totality. Subject takes every opportunity to add value
to the customers business through their Solution expertise. Subject has shown
considerable maturity and 100% YoY growth not only in terms of Financials but
in the form of adding right customers and quality and passionate associates.
Subject's key strength is the ability to execute projects successfully in an
highly challenging environments. This ability of its associates has led to the
growth and is giving company, the competitive edge over others. Subject is more
of an adaptive enterprise with its quick learning skills, simpler and smarter
approach to solve the business problems of customers.
Subject has been chosen as SAP
NetWeaver Services Partner - India in 2006 by SAP for their consistent quality
deliverables to SAP Customers.
Services
Technologies
This being the application builder from SAP for integrating
business process and database from a number of sources while exploiting the
leading web service technologies. With different components such as the BI, XI,
Portal, MDM, KM and eSOA, various applications can be built to address the
business needs for different set of users. Considering such a vast subject it
is quite challenging for lots of firms. They at subject have been awarded by
SAP as the best NetWeaver Partners.
CRM
A complete Customer Relationship Management in the office.
They assist with a tool that will keep a tab on the number of fresh leads, who
it is assigned to, a record of the follow up and the status of the interaction
level. This assist in enhanced closure rates, timely follow ups and the top
reasons why customers are with and the concerns they have using the services.
Human Resource
This team is the hub of interaction and the bridge between
the organization and the employees. Considering their importance and to
increase the optimum utilization effective tools have been developed to ensure
that there is a standard operation procedure across the company. They have an
array of solutions that the domain can use.
Professional Services
With the pre packaged business solutions they assist in
taking control of the current crises. They assist stream lining the organizational
structure, financial accounting, material management, sales and distribution.
Along with the primary goal of saving time and money their solution will also
assist with having a uniform data management and structure for the entire
organization.
Enteg Corporate Performance Management
Using the tool the management can have a strategic approach
to improving business performance. Deploying the business strategies and
assisting to generate reports in the format require is simplified with this solution.
The solution monitors performance, processes metrics, etc. in short it is a
business intelligence solution.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.44.07 |
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UK Pound |
1 |
Rs.81.26 |
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Euro |
1 |
Rs.64.71 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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55 |
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 |
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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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