MIRA
INFORM REPORT
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Report Date : |
09.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
TANLA SOLUTIONS LIMITED |
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Registered Office : |
Tanla Technology Centre, Hitech City Road, Madhapur,
Hyderabad 500 081 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.07.1995 |
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Com. Reg. No.: |
21262 |
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CIN No.: [Company
Identification No.] |
L72200AP1995PLC021262 |
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Legal Form : |
Public limited liability company. Company’s Shares are listed on the
Stock Exchange. |
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Line of Business : |
Provider of Software Development and related 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 20000000 |
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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. Directors
are reported as experienced, respectable and having satisfactory means of
their own. Their trade relations are reported as fair. Business is active.
Payments are reported as usually 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 : |
Tanla Technology Centre, Hitech City Road, Madhapur,
Hyderabad 500 081 |
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Tel. No.: |
91 - 40 – 40099999 |
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Fax No.: |
91 - 40 - 23122999 |
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E-Mail : |
anuradha.chava@tanlasolutions.com
Contact : contact@tanlasolutions.com Customer Support : support@tanlasolutions.com Career Opportunities : career@tanlasolutions.com Financial Analysts & Investor Inquiries : financial@tanlasolutions.com FPO Inquiries : fpo@tanlasolutions.com Website Feedback : website@tanlasolutions.com |
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Website : |
DIRECTORS
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Name : |
Mr. D Uday Kumar Reddy |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Gautam Sabharwal |
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Designation : |
Director |
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Name : |
Mr. Satish Kathirisetti |
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Designation : |
Director |
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Name : |
Mr. Anoop Roy Kundal |
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Designation : |
Director (Operation) |
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Name : |
Mr. Amit Gupta |
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Designation : |
Director (Finance) |
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Name : |
Mr. Navnit Chachan |
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Designation : |
Director (Research and Development) |
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Name : |
Mr. Padmabhushan Ram Narain Agarwal |
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Designation : |
Director |
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Name : |
Mr. Sudhanshu Shekhar Jamuar |
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Designation : |
Director |
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Name : |
Mr. Abhishek Khaitan |
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Designation : |
Director |
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Name : |
Mr. Villadath Harish Kumar |
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Designation : |
Director |
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Name : |
Mr. Shrikant Madan Chitnis |
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Designation : |
Director |
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Name : |
Mr. S K Palhan |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Akash Rukhaiyar |
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Designation : |
Chief Financial Officer |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Post Graduate Diploma in Management Indian Institute of Management, Bangalore
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Experience : |
17 Years |
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Date of Appointment : |
01.10.2005 |
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Previous Employment : |
Senior Manager with Accentor Services Private Limited |
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Name : |
Mr. Seshanuradha |
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Designation : |
Company Secretary |
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Name : |
Mr. Sunit Saraswat |
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Designation : |
Senior Vice President |
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Name : |
Mr. Sivaramakrishnan |
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Designation : |
Vice President - Global HR |
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Name : |
Mr. Asit Ahluwalia |
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Designation : |
Vice President - Sales, Tanla Mobile Inc |
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Name : |
Mr. Robert H. Schmidt |
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Designation : |
Director - Operations & Support,
Tanla Mobile Inc |
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Name : |
Mr. Rohit Midha |
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Designation : |
Head - Corporate Affairs |
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Name : |
Mr. Anuj Khanna |
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Designation : |
Head of Marketing, Tanla Mobile |
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Name : |
Mr. Gerry Drew |
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Designation : |
Head of Sales, Tanla Mobile |
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Name : |
Mr. Bhushan Dewan |
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Designation : |
President, Quality and Business
Excellence |
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Name : |
Mr. N. V. Subba Rao |
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Designation : |
President & CEO, Tanla Mobile Inc |
SHAREHOLDING
PATTERN
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Category
of Shareholder |
No. of Shares |
Percentage of
Holding |
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Shareholding of Promoter and Promoter Group2 |
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Indian |
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Individuals/ Hindu Undivided Family |
17486550 |
34.97 |
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Public shareholding |
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Institutions |
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Mutual Funds/ UTI |
1942227 |
3.88 |
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Financial Institutions / Banks |
338559 |
0.68 |
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Foreign Institutional Investors |
13533610 |
27.07 |
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Non-institutions |
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Bodies Corporate |
5780216 |
11.56 |
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Individuals |
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Individuals -i. Individual shareholders holding nominal
share capital up to Rs 0.100 Million |
5319100 |
10.64 |
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ii. Individual shareholders holding nominal share capital in excess of Rs. 0.100
Million |
4154736 |
8.31 |
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Non- Resident Indians |
376648 |
0.75 |
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Trusts |
7730 |
0.02 |
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Foreign Nationals |
878700 |
1.76 |
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Clearing Members |
181924 |
0.36 |
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TOTAL |
50000000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of Software Development and related services |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
Around 350 |
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Bankers : |
Citi Bank, N. A. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ramasamy Koteswara Rao and Company Chartered Accountants |
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Associates/Subsidiaries : |
5th Floor, 39 Charing Cross Road, London WC2H OAR Tel: +44 (0)20 7494 5600
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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60,000,000 |
Equity Shares |
Rs. 2/- each |
Rs. 120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000,000 |
Equity Shares |
Rs. 2/- each |
Rs. 100.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
100.000 |
68.230 |
68.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4942.702 |
302.700 |
64.800 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5042.702 |
370.930 |
133.000 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
2.017 |
6.993 |
0.000 |
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TOTAL |
5044.719 |
377.923 |
133.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
154.393 |
83.314 |
26.000 |
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Capital work-in-progress |
211.826 |
5.080 |
0.000 |
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INVESTMENT |
2683.471 |
32.374 |
32.300 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Sundry Debtors |
230.586
|
144.097 |
37.200 |
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Cash & Bank Balances |
1175.825
|
145.571 |
48.600 |
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Loans & Advances |
516.296
|
5.948 |
8.800 |
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Total
Current Assets |
1922.707
|
295.616 |
94.600 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
119.764
|
42.641 |
6.100 |
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Provisions |
0.000
|
0.000 |
13.800 |
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Total
Current Liabilities |
119.764
|
42.641 |
19.900 |
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Net Current Assets |
1802.943
|
252.975 |
74.700 |
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MISCELLANEOUS EXPENSES |
192.086 |
4.180 |
0.000 |
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TOTAL |
5044.719 |
377.923 |
133.000 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
820.144 |
413.956 |
71.200 |
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Other Income |
91.220 |
5.537 |
3.200 |
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Total Income |
911.364 |
419.493 |
74.400 |
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Profit/(Loss) Before Tax |
592.086 |
277.836 |
47.800 |
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Provision for Taxation |
15.815 |
20.497 |
0.300 |
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Profit/(Loss) After Tax |
576.271 |
257.339 |
47.500 |
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Earnings in Foreign Currency : |
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Income from Software Products and offshore
Development Services |
815.698 |
404.820 |
NA |
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Dividends Received |
6.428 |
4.798 |
NA |
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Interest Received |
11.248 |
0.000 |
NA |
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Total Earnings |
833.374 |
409.618 |
NA |
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Imports : |
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Capital Goods |
11.916 |
14.979 |
NA |
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Total Imports |
11.916 |
14.979 |
NA |
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Expenditures : |
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Cost of Sales |
209.057 |
106.905 |
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Selling and Marketing Expenses |
29.030 |
13.658 |
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General and Administrative Expenses |
22.589 |
16.815 |
26.600 |
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Depreciation & Amortization |
58.601 |
4.279 |
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Other Expenditure |
0.000 |
0.000 |
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Total Expenditure |
319.277 |
141.657 |
26.600 |
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QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2007 |
30.09.2007 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Sales Turnover |
|
258.800
|
316.500
|
|
Other Income |
|
62.800
|
55.500
|
|
Total Income |
|
321.600
|
372.000
|
|
Total Expenditure |
|
89.100
|
106.200
|
|
Operating Profit |
|
232.500
|
265.800
|
|
Interest |
|
0.000
|
0.000
|
|
Gross Profit |
|
232.500
|
265.800
|
|
Depreciation |
|
18.100
|
18.200
|
|
Tax |
|
18.600
|
35.200
|
|
Reported PAT |
|
194.700
|
210.500
|
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity Ratio |
0.00 |
0.00 |
0.00 |
|
Long Term Debt-Equity Ratio |
0.00 |
0.00 |
0.00 |
|
Current Ratio |
11.88 |
5.57 |
4.39 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed Assets |
6.03 |
6.42 |
2.32 |
|
Inventory |
0.00 |
0.00 |
0.00 |
|
Debtors |
4.38 |
4.57 |
3.30 |
|
Interest Cover Ratio |
846.86 |
556.60 |
240.00 |
|
Operating Profit Margin (%) |
79.43 |
68.26 |
70.65 |
|
Profit Before Interest And Tax
Margin (%) |
72.28 |
67.22 |
67.42 |
|
Cash Profit Margin (%) |
77.42 |
63.19 |
69.94 |
|
Adjusted Net Profit Margin (%) |
70.27 |
62.15 |
66.71 |
|
Return On Capital Employed (%) |
22.72 |
111.39 |
49.95 |
|
Return On Net Worth (%) |
21.29 |
102.12 |
48.99 |
LOCAL AGENCY
FURTHER INFORMATION
OPERATIONAL
PERFORMANCE
The Company has achieved a total revenue of Rs. 911.364 Millions as against
Rs.419.493 Millions in the previous year, thus registering an increase of 117%.
The Company has earned a Gross profit of Rs.559.467 Millions before
depreciation and other income as against Rs.276.577 Millions in the previous
year. After deducting Rs.58.601 Millions as provision for depreciation&
amortization and Rs.15.815 Millions as income tax provision, the operations
resulted in a net profit of Rs.576.271 Millions as against Rs.257.339 Millions
in the previous year, thereby recording a growth of 124%.
SUBSIDIARY COMPANIES:
The Company has
three wholly-owned subsidiaries viz. Tanla Solutions (UK) Limited, Smartnet
Communication Systems Private Limited and Tanla Mobile Asia Pacific Pte
Limited. Tanla Mobile Limited (formerly known as Mobizar Limited), UK is a
wholly-owned subsidiary of Tanla Solutions (UK) Limited.
Tanla Solutions
(UK) Limited has moved to new premises during the year.
Tanla Mobile is
a leading innovator of next generation mobile application solutions, m-commerce
and interactive services. Tanla Mobile works in partnership with global mobile
operators across UK and Asia to deliver and bill mobile content over SMS, WAP,
MMS, Video, etc. Its product suite includes Mobile Payments Solutions, Campaign
Management, Content Management, 3G Video Management and Interactive TV
Management applications.
It has in the
recent past entered into partnerships with prestigious names like Skype,
Breathe and 4D interactive.
Smartnet Communication Systems Private Limited was originally incorporated on
November 16, 1998, a company engaged in the business of R&D activities and
development of solutions relating to both hardware and software for various
e-commerce applications. Operations in this Company have been
insignificant.
The Registered
Office of this Company has been shifted from the State of West Bengal to the
State of Andhra Pradesh as per the order of Eastern Company Law Board, Eastern
Bench, it is presently located at Tanla Technology Centre, Hi-tech City Road,
Madhapur, Hyderabad - 500 081.
As indicated in
the objectives of the Public Issue, the Company has initiated the process of
expanding into other geographies. Tanla Mobile Asia Pacific Pte Limited, a
subsidiary of Tanla Solutions Limited has been incorporated in Singapore,
further Tanla Mobile Asia Pacific Pte Limited have incorporated 2 subsidiaries,
namely 1) Tanla Mobile Inc., New Jersey, USA and 2) Tanla Mobile Ireland,
Dublin Ireland as a step towards global expansion.
Total
Income
Sales for the fiscal year 2007 was up by Rs. 406.187 Millions (98%) to Rs.
820.143 Millions for fiscal 2007 (Rs. 413.955 Millions for fiscal 2006). The
sales were boosted by the strong up take of their revenue-share based service
offerings in UK and APAC regions based on their telecom products and their
end-to-end solutions for their clientele including Aggregator clients, through
a wide array of offshore services, like application development and
maintenance, technical infrastructure support and customer support.
FIXED ASSETS
- Land and Site
Development
- Building
Development
- Building
Interiors and Fixtures
- Furniture
- Computers
- Office
Equipments
- Vehicles
- Air-Conditioning
- Library Books
AS PER
WEBSITE
Corporate
Founded in 1999 by a multi-talented group of professionals
with proven business credentials, subject is a rapidly expanding, profit making
company with its software development centre in Hyderabad, Andhra Pradesh,
India, and worldwide marketing office in the U.K. A Listed company, Tanla has
witnessed tremendous growth over the years and has recently acquired a telecom
services company in the U.K. and a software development company in New Delhi,
India.
Telecom Infrastructure Solutions have been at the core of Tanla's operations.
Tanla has the distinction of being one of the first few companies in India to
focus on integrated solutions and products for the wireless world. Tanla has
already made a name for itself in mobile communications and enjoys the rare distinction
of rolling out a sophisticated software product for the wireless communications
industry, within 3 months of its inception - Tanla SMSC.
Tanla is India's first company to make SMSC and VMS indigenously and compete
with global giants. Accepted as a robust product by several leading cellular
operators from India and abroad, Tanla's SMSC has already been deployed with
prestigious clients like Reliance, BPL, Hexacom, Airtel and Essar.
Even as telecom remains Tanla's core area, the company has moved beyond it to
display its competencies in an array of IT services. Tanla's new mergers have
added to its strengths in customized software development and extended its
focus to include Offshore Development and Maintenance and Infrastructure
Management Services.
Integrity
They are committed to the highest standards of honesty in every aspect of their
business. They value and practice honesty, integrity and ethical business
practices.
Initiative
Tanla believes in taking initiative to identify challenges and create
solutions.
Accountability
They at Tanla take their responsibilities seriously and hold themselves
accountable for meeting their commitments. They value and respect the strengths
and individuality of all employees.
Excellence
They pursue excellence in everything they do, bettering the best each time.
Every facet of their business reflects the highest level of customer service
and quality with value. They are perceptive, attentive, and responsive to the
needs of their customers.
Business Principles
Tanla aims to be at the forefront of technology and aspires
to grow substantially and profitably to become a leading telecom infrastructure
and software solutions provider worldwide. Their Vision and Values guide their
conduct.
Their Vision is to be the preferred telecom
infrastructure and solutions partner on Text, Voice, GPRS, WAP and EDGE
Technologies across the world.
The foundation of their business is trust, honesty and integrity. All stakeholders
in their business, including their employees, shareholders, customers, and all
of their business and strategic partners may expect them to employ high moral
values. They remain loyal to these values at all times. They are convinced that
compliance with these Business Principles constitutes safeguarding their
reputation and will strengthen their good reputation in order to continue the
success of their business.
Subject is passionate about their values, and this shows in each and every
aspect of their business conduct. Tanla’s success arises from their absolute
commitment to sound business practices and the manner in which they work
together with their key stakeholders (shareholders, employees, customers,
business partners), government and regulators, communities and the society.
Assuming responsibility, and acting with respect and determination makes it
possible to nurture Tanla’s traditional strengths – their technology
leadership, their pioneering spirit and their ability to be at home everywhere.
That is their legacy, and their future.
As a global business, Tanla operates within a wide range of legal
jurisdictions. They respect and support all appropriate internationally
accepted standards. Their Business Principles represent the additional
commitments they make to their stakeholders and to the society at large.
Their Business Principles apply to all of Tanla’s business
interests and to all of Tanla employees. They share good practice across Tanla
as they continuously strive to improve performance. The key to success lies in
how well all of them understand and apply the business principles –
demonstrating personal, professional and corporate responsibility, showing
respect for the views and needs of others and applying their shared determination
to win. To achieve meaningful success, Tanla promises a strong commitment to
its core values.
Management Team
D. Uday Kumar Reddy
(Chairman & Managing Director)
An MBA from UK, Uday is one of the founding members of Tanla.
An entrepreneur at heart, with sharp focus, determination and a go-getter
attitude, he has gained a solid reputation among colleagues, business partners
and customers for his rare balance of strategic insight, operational expertise
and technological and financial skills. With innovation and inventiveness, he
has led the organization to achieve tremendous growth in revenues and profits.
Gautam Sabharwal
(Director - Global Business Developmen)
An MBA from UK, Gautam handles Tanla’s global marketing and
sales. A pro at market visualization, approach strategies and sales
initiatives, he brings with him vast experience in Telecom Services Industry.
His experience includes several years of running successful businesses in the
emerging telecom services markets of Europe. His quick assessment, long-term
strategy planning, along with knowledge of the core businesses of Tanla, helps
in giving the company the right direction.
Satish Kathirisetti
(Director & CTO)
An M.E. from Madras Institute of
Technology, Satish brings with him years of experience in technology,
programming philosophies and domain expertise in the areas of Telecom and
Systems Engineering. Implementation of a strategic vision with foresight in
technology trends is his constant endeavor. With a proven track record of
designing and delivering mission critical systems, Linux and contributing to
Open Source Foundation remains his passion.
N.V.Subba Rao
(President & CEO, Tanla
Mobile Inc)
An M.Tech from IIT, Mumbai and
MBA, he has over 20 years experience working with marquee organizations like
Bharti Airtel, Tata Tele, P&G and Agro Tech Foods. Subba held the post of
Chief Operating Officer at Bharti Airtel Limited prior to joining Tanla, and is
heading the business and operations of the company in the America’s and Asia
Pacific.
Bhushan Dewan
(President, Quality and Business
Excellence)
An M.Tech from IIT, Delhi and
Post-graduate Diploma in Management from Jamnalal Bajaj Institute of Management
Studies, Mumbai, he has over 30 years experience in quality and management
process improvements and has previously held the post of Vice President- TCS
and senior positions in Quality Systems International and the Indian Navy.
Bhushan has national & international experience and is empanelled as a Consultant
with New Zealand Business Excellence Foundation. He is passionate about driving
Tanla’s management systems to be world-class. He is also the author of two
globally published books on Information Technology.
Anoop Roy Kundal
(Director – Operations)
A B.Tech. from IIT Delhi, Anoop
has exposure to a wide range of technologies. With vast experience in
object-oriented designs and enterprise software development, he has worked on
cutting-edge business solutions employing multi-layered architecture designs
and applications development and deployment. His drive is Business
Intelligence.
Navnit Chachan
(Director - Research &
Development)
A B.Tech. from IIT Delhi, Navnit
works extensively in designing, developing, implementing and enhancing software
programs in various operating systems. Prior to joining Tanla, Navnit worked
with Reliance Industries Limited. His passion is open source technologies.
Amit Gupta
(Director - Finance)
A B.Tech. from IIT Delhi, Amit
has many years of hands-on experience in software engineering and ERP. He
brings with him extensive knowledge in areas of BFSI and Manufacturing. Before
joining Tanla, Amit worked with Ernst & Young and KPMG, specializing in
financial planning and information technology consulting services for Global
2000 companies. His strengths lie in reference architecture, systems design,
and project management.
Gerry Drew
(Head of Sales, Tanla Mobile)
Gerry has a wealth of experience
working at senior levels with the media industry ranging from popular reality
TV shows , major print publications and leading radio groups. His prior roles
include MD at Opera Telecom and as Commercial Director at O2.
Anuj Khanna
(Head of Marketing, Tanla
Mobile)
An MBA from University of
Sheffield, he has over 10 years of strategic marketing experience within the
mobile telecom sector and was previously with Netsize as Group Marketing &
Communications Director and is also the elected Director of the prestigious
Mobile Data Association.
Rohit Midha
(Head - Corporate Affairs)
Rohit has over 13 years
experience in Capital Markets and strategic functions of business development
and has worked in organizations like Apeejay Surrendra Group, Kotak Mahindra
and SMIFS. An alumnus of La Martiniere and St. Xavier’s, he holds an MBA.
Robert H. Schmidt
(Director - Operations &
Support, Tanla Mobile Inc)
Robert is a seasoned manager
with more than 25 years experience in the Electronics, IT and Telecom
industries. He has broad successful career experience including sales, marketing
and operations, at various senior management levels, with large and small
companies. Due to his start-up and small business experience, he has a “hands
on” approach to problem solving.
His career began in direct sales at Unisys and later, ATT. At Ameritech/SBC he
was part of the founding management team of the communication systems
subsidiary. He has held management positions at Nortel Networks, Cinta
Networks, Atoga Systems and Mintera Networks, the latter three being start-ups.
Most recently he was a part of the management team at Netcom, Inc. an
electronic components design and manufacturing company.
He obtained his BS in Marketing and MBA from Southern Illinois University. In
1992, Bob was inducted into Southern Illinois University’s School of Business
Hall of Fame.
Asit Ahluwalia
(Vice President - Sales, Tanla
Mobile Inc)
Asit has enjoyed a successful
and multi-faceted career over the past 24+ years in the communications
industry. Creating highly effective organizations and building strategic
relationships with leading technology customers has been his hallmark. Whether
in Silicon Valley start-ups or Fortune 100 corporations, Asit’s executive
leadership skills have established a reputation based on integrity,
intelligence and the delivery of results.
His two most recent assignments as Country Head of the largest
telecommunications company of India as well as Sales Director for an
electronics design and manufacturing firm have firmly established his
leadership credentials. Prior positions such as Regional Vice President of
Professional Services at Nortel Networks and Director of Sales at AT&T
responsible for building a multi-million dollar revenue organization have
provided the additional experience to accept many challenges. Other leadership
roles in sales, marketing, business & channel development with companies
such as Alcatel, Voxpath Networks & Cinta Networks round out his
professional background.
Sivaramakrishnan
(Vice President - Global HR)
Sivaramakrishnan Kalyanaraman
(Siva) is a veteran from the field of Human Resources with over 15 years of
experience. Prior to joining Tanla, Siva was the Global HR Head for
Intelligroup Inc. Siva has also spent 10 years with Infosys, where his last
assignment was in the capacity of Associate Vice President handling Global
Mobility and Compliance. As part of his responsibilities Siva has also spent
about 5 years in the US managing the HR function for Infosys in the US. He was
also a key member in the implementation for SAP (HR Module) at Infosys for
which he was awarded the Excellence Award. Siva has a management degree from
the Indian Institute of Management, Ahmedabad, India.
Sunit Saraswat
(Senior Vice President)
A B.Tech from BIT, MESRA and MBA
from IIM Calcutta, Sunit has over 18 years of experience working with
Organizations like Xerox India, Agro-Tech Foods and General Mills India. Sunit
worked in Kuala Lumpur, Malaysia for a couple of years before joining Tanla.
Infrastructure
Their infrastructure at the two
facilities in Hyderabad is acknowledged to be world class. 30,000 sq ft of
space accommodating 350 employees is operational 24X7. Every critical component
has been designed with recovery and security in mind. Every network element has
multiple routes to its destination including leased line circuits. The
facilities also include a nice cafeteria, wellness centre, recreation room and
library.
The data center has every server
as a part of a cluster with power backup, round the clock multi-level security,
access control, CCTV to ensure physical and information security.
The security systems provide a
two layer protection from Internet prone attacks. Best of class desktops and
servers for all employees at all levels combined with systems and network
policies have brought the productivity up. Less time is spent on worrying on
Trojans, virus, or reformats.
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.39.29 |
|
UK Pound |
1 |
Rs.76.92 |
|
Euro |
1 |
Rs.57.71 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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. |
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 |
|