MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
LIQVID ELEARNING SERVICES PRIVATE LIMITED |
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Formerly Known As : |
ELEARNING SERVICES PRIVATE LIMITED |
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Registered Office : |
59, Mandakini NRI Colony, Greater Kailash – IV, New Delhi – 110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Unaudited) |
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Date of Incorporation : |
13.11.2002 |
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Com. Reg. No.: |
55-117667 |
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CIN No.: [Company
Identification No.] |
U93010DL2002PTC117667 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELL03347B |
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PAN No.: [Permanent
Account No.] |
AABCE1285H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Services provider
of blended learning, instructional design and enterprise learning management
systems. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has some accumulated losses as per its last financials of 2008. Trade
relations are fair. No complaints have been heard against the subject from
market sources. It would be advisable to take adequate securities while dealing with
the subject. |
LOCATIONS
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Registered Office : |
59, Mandakini NRI Colony, Greater Kailash – IV, New Delhi – 110019,
India |
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Tel. No.: |
91-11-26270322 |
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Mobile No.: |
91-9810136051 (Mr. Vivek Agarwal) 91-9811533335 (Mr. Saurabh Agrawal) |
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E-Mail : |
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Website : |
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Corporate Office : |
114 W, Magnolia Street, Suite, Bellingham – 400127, Washington 98225
USA |
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Tel. No.: |
1-866-3431241 |
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Fax No.: |
1-801-3264733 |
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E-Mail : |
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Factory : |
‘Liqvid House’, F – 3, Sector – 8, Noida – 201301, Uttar Pradesh,
India |
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Tel. No.: |
91-120-4039000 |
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Fax No.: |
91-120-2424247 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Vivek Agarwal |
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Designation : |
Managing Director |
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Address : |
A -22, Kailash Colony, New Delhi – 110048, India |
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Date of Birth/Age : |
24.09.1971 |
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Date of Appointment : |
13.11.2002 |
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PAN No.: |
AAXPA0873A |
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Email : |
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Name : |
Mr. Saurabh Agrawal |
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Designation : |
Director |
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Address : |
A -22, Kailash Colony, New Delhi – 110048, India |
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Date of Birth/Age : |
25.03.1967 |
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Date of Appointment : |
13.11.2002 |
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PAN No.: |
AAWPA2508F |
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Name : |
Mr. Deepak Mohla |
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Designation : |
Nominee Director |
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Address : |
E – 12, 1st Floor, Saket, New Delhi, India |
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Date of Birth/Age : |
07.10.1950 |
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Date of Appointment : |
20.04.2006 |
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Nominee Company : |
Rajasthan Assets Management Company Private Limited |
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Other Directorship : |
Director U74140DL1999PTC101714
Director U74140DL2006PTC145629 |
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Name : |
Mr. Girish Gupta |
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Designation : |
Nominee Director |
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Address : |
B- 119, Malviya Nagar, Jaipur – 302005, Rajasthan, India |
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Date of Birth/Age : |
18.02.1957 |
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Date of Appointment : |
20.04.2006 |
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Nominee Company : |
Rajasthan Assets Management Company Private Limited |
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Email : |
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Other Directorship : |
Director U65999RJ2002PTC017379
Director U51505RJ1985GC003193
Director U01119DL1996PLC080659
Director U92111DL2003PTC123453 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2008)
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Names of Shareholders |
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No. of Shares |
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Xterm Products Private Limited |
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7802142 |
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Vivek Agarwal |
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1492 |
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Rajasthan Assets Management Company Private Limited |
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269090 |
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Total |
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8072724 |
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Name of
Debentures Holders |
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No. of Debenture |
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Rajasthan Assets Management Company Private Limited |
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230000 |
(As on 31.03.2007)
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Category |
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Percentage
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Bodies Corporate |
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99.98 |
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Directors or relatives of directors |
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0.02 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Services provider
of blended learning, instructional design and enterprise learning management
systems. |
GENERAL
INFORMATION
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No. of Employees : |
60 |
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Bankers : |
Plot No.3, Local Shopping Complex, 2nd Floor and 3rd
Floor, Vasundhra Enclave, Delhi – 110096, India |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Walker Chandiok and Company Chartered Accountant |
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Address : |
L-41, Connaught Circus, New Delhi – 110001, India |
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Holding Company : |
Xterm Products Private Limited U51311DL2001PTC111819 |
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Associates/Subsidiaries : |
U74140DL1999PTC101714
U74140DL2006PTC145629
U65999RJ2002PTC017379
U51505RJ1985GC003193
U01119DL1996PLC080659
U92111DL2003PTC123453 |
CAPITAL STRUCTURE
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs.1/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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8072724 |
Equity Shares |
Rs.1/- each |
Rs.8.073
Millions |
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Debenture Breakup:
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No. of Shares |
Type |
Value |
Amount |
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230000 |
Fully Convertible |
Rs.100/- each |
Rs.23.000
Millions |
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Note:
Out of the above equity shares 6935000 bonus
shares have been allotted as fully paid up by capitalization of securities
premium
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 (Unaudited) |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.073 |
8.073 |
7.804 |
0.465 |
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2] Share Application Money |
0.000 |
0.000 |
1.000 |
0.000 |
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3] Reserves & Surplus |
1.827 |
1.827 |
1.096 |
6.946 |
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4] (Accumulated Losses) |
(2.164) |
(3.858) |
(1.400) |
0.000 |
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NETWORTH |
7.736 |
6.042 |
8.500 |
7.411 |
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LOAN FUNDS |
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1] Secured Loans |
39.767 |
34.928 |
11.059 |
8.900 |
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2] Unsecured Loans |
1.500 |
1.500 |
3.500 |
3.798 |
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TOTAL BORROWING |
41.267 |
36.428 |
14.559 |
12.698 |
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DEFERRED TAX LIABILITIES |
2.198 |
1.770 |
1.039 |
0.000 |
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TOTAL |
51.201 |
44.240 |
24.098 |
20.109 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
28.153 |
27.002 |
12.415 |
8.603 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.004 |
0.004 |
0.004 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.321
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0.274
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0.154 |
1.733 |
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Sundry Debtors |
1.878
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21.115
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10.304 |
8.512 |
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Cash & Bank Balances |
27.801
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0.223
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2.468 |
1.461 |
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Other Current Assets |
0.518
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3.200
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3.912 |
1.133 |
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Loans & Advances |
4.715
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3.119
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2.103 |
3.371 |
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Total
Current Assets |
35.233
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27.931
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18.941 |
16.210 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
11.027
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9.291
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6.901 |
4.513 |
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Provisions |
1.162
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1.406
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0.361 |
0.191 |
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Total
Current Liabilities |
12.189
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10.697
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7.262 |
4.704 |
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Net Current Assets |
23.044
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17.234
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11.679 |
11.506 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
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TOTAL |
51.201 |
44.240 |
24.098 |
20.109 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 (Unaudited) |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
74.665 |
78.762 |
45.251 |
20.035 |
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Other Income |
1.090 |
0.354 |
0.119 |
0.012 |
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Total Income |
75.755 |
79.116 |
45.370 |
20.047 |
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Profit/(Loss) Before Tax |
2.762 |
(1.103) |
(0.072) |
(0.366) |
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Provision for Taxation |
1.069 |
1.354 |
1.165 |
(0.790) |
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Profit/(Loss) After Tax |
1.693 |
(2.457) |
(1.237) |
0.424 |
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Export Value |
31.288 |
17.055 |
NA |
NA |
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Expenditures : |
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Consumption of Course Materials |
0.887 |
1.759 |
0.544 |
0.572 |
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Personnel Expenses |
43.028 |
40.693 |
22.465 |
8.012 |
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Administrative, Selling and Other Expenses |
25.676 |
35.333 |
21.146 |
11.240 |
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Depreciation & Amortization |
3.402 |
2.434 |
1.287 |
0.589 |
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Other Expenditure |
0.000 |
0.000 |
0.000 |
0.000 |
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Total Expenditure |
72.993 |
80.219 |
45.442 |
20.413 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2008 (Unaudited) |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.23
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(3.11) |
(2.73) |
2.12 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.70
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(1.40) |
(0.16) |
(1.83) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.36
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(2.01) |
(0.23) |
(1.48) |
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Return on Investment (ROI) (PBT/Networth) |
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0.36
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(0.18) |
(0.01) |
(0.05) |
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Debt Equity Ratio (Total Liability/Networth) |
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6.91
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7.80 |
2.57 |
2.35 |
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Current Ratio (Current Asset/Current Liability) |
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2.89
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2.61 |
2.61 |
3.45 |
LOCAL AGENCY
FURTHER INFORMATION
REPORT OF
VALUATION OF IMMOVABLE PROPERTY
GENERAL
INFORMATION
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1. Purpose for which valuation made |
To assess the
fair market value of the property for Bank Purposes |
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2. Date on which valuation made |
01.10.2008 |
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3. Name of the Owner / Owners |
Owners: Dashmesh Infotech Private Limited Directors: Mr. Vivek Agarwal Mr. Saurabh Agarwal |
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4. If the property is under joint ownership
/ share of each owner. It the share undivided ? |
In Company Name |
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5. Brief description of property |
It is a 3 Stories building with a basement
i.e. Basement, G. F., F.F. and S. F. in industrial area constructed on a plot
area of = 817.40 sq. m = 977.61 sq. yds = 8798.49 sq. ft. during year about 2004
as reported by the owners representative Mr. Hemand Singhal. The owners have
given this property on rent to Liqvid elearning Services Private Limited, who
is making computers software for English eLearning in this property. |
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6. Location, Street, Ward No. |
Industrial Plot
No. F-3, Sector No.8, Phase – I, Noida, District – Gautam Budha Nagar, Uttar
Pradesh, India |
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7.Survey / Plot No. of land |
Industrial Plot
No. F-3, Sector No.8, Phase – I, Noida, District – Gautam Budha Nagar, Uttar
Pradesh, India |
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8. It the
property situated in residential/ commercial / mixed / industrial area. |
Industrial Area |
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9. Classification of locality – high class /
middle class / poor class. |
Middle class |
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10. Proximity to
civic amenities like schools, offices, hospitals, market, cinemas etc. |
All available
nearby within 3-15 km distance. |
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11. Means and
proximity to surface communication by which the locality is served. |
By surface road transport |
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LAND: |
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12. Area of land
supported by documentary proof shape, dimension and physical features. |
Area of Plot = 817.40 sq. m. = 977.61 sq.
yds = 8798.49 sq. ft. |
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13. Road’s
Streets or lanes on which the land is abutting |
North: Plot No.F-4 East: Plot No.F-27 South: Plot No.F-2 West: Road – 24.38 m i.e. 80 wide |
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14. Is it
freehold or leasehold land? |
Leasehold |
TECHNICAL
DETAILS
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1. No. of floors
and height of each floor |
Basement G.F.
F.F. S.F. Ht. 10’-0” 10’-0”
10’-0” 10’-0” |
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2. Location and
Plinth Area |
Refer to
Valuation Report |
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3. Year of
Construction |
Construction
during year about 2004 as reported by the owner’s representative Mr. Hemant
Singhal. |
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4. Estimated
future life |
62 years |
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5. Type of
construction |
Load bearing
walls and R.C.C. structure |
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6. Type of
foundation |
Spread and Raft
Foundation |
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7. Basement and
Plinth Ground Floor Super Structure above ground floor |
9” thick brick walls in cement mortar. |
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8. Partitions |
4 1/2” thick (half) brick walls in cement
mortar. |
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9. Door and
Windows [Floor - wise] |
Basement: Steel Door and Windows Ground Floor: Aluminium framed glazed shutter door and
wooden doors and M.S. Grilled windows with glazed shutter provided. 1st Floor: Aluminium framed glazed shutter door and
wooden doors and M.S. Grilled windows with glazed shutter provided. 2nd Floor: Aluminium framed glazed shutter door and
wooden doors and M.S. Grilled windows with glazed shutter provided. |
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10. Flooring
[Floor-wise] |
Basement: Plain Cement Flooring Ground Floor: Plain Cement Flooring with antistatic carpet
and Marblex titles flooring in reception room at from side at G.F. 1st Floor: Plain cement flooring with antistatic carpet 2nd Floor: Plain cement flooring with antistatic carpet |
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11.Finishing (Floor-wise) |
Basement: Cement Plaster with Paint Ground Floor: Cement Plaster, P.O.P. with velvet touch
paint, Plastic Paint and decorative work and glazed titles in toilets. Wooden
partitions and wooden paneling are provided in the hall for making cabins,
Directors rooms and conference room etc. The superior quality of furniture’s
and sofa sets are provided for sitting of staff, Directors rooms and
conference rooms etc. The building is fully Air- conditioned. 1st Floor: Cement Plaster, P.O.P. with velvet touch
paint, Plastic Paint and decorative work and glazed titles in toilets. Wooden
partitions and wooden paneling are provided in the hall for making cabins,
Directors rooms and conference room etc. The superior quality of furniture’s
and sofa sets are provided for sitting of staff, Directors rooms and
conference rooms etc. The building is fully Air- conditioned. 2nd Floor: Cement Plaster, P.O.P. with velvet touch
paint, Plastic Paint and decorative work and glazed titles in toilets. Wooden
partitions and wooden paneling are provided in the hall for making cabins,
Directors rooms and conference room etc. The superior quality of furniture’s
and sofa sets are provided for sitting of staff, Directors rooms and
conference rooms etc. The building is fully Air- conditioned. |
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12. Roofing and
terracing |
RCC slab |
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13. Special
architectural or decorative features |
Superior Look |
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14. A] Internal
wiring – surface or conduit B] Class of fittings superior /
ordinary / poor |
Concealed
conduit wiring Superior Quality
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15. A] Sanitary
installations - |
No. of Water
Closets – 12 Nos. No. of Lavatory
Basins – 12 Nos. No. of Urinals –
12 Nos. No. of Sinks – 2
Nos. |
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B] Class of fittings superior coloured
/ superior white / ordinary |
Superior Quality |
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16. Compound
Wall |
Height and
length: All-round
compound wall about8’ high with steel gates. Type of
Construction: Brick Masonry |
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17. No. of lifts
and capacity |
No |
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18. Underground
sump |
No |
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19. Overhead
Tank. |
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A] Where Located
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At terrace of
Second Floor |
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B] Capacity |
2000 Liters |
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C] Type of
construction |
P.V.C. |
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20. Pumps Nos.
and their horse power |
1 No 1H.P. |
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21. Roads ad paving within the compound,
approximate area and type of paving |
Area stone
paving/road |
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22. Sewage disposal / whether connected to
public sewers. If septic tanks provided, no and capacity. |
Connecteds to
Public Sewer |
PERFORMANCE
AND FINANCIAL POSITION
(Rs
in Millions)
The analysis of the projected
financials of the company for the year ending 31st March 2008 to 31st
March 2014 is depicted hereunder
|
Particulars |
2008-09 |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
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Projected |
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Domestic |
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Sale (Gross) |
82.132 |
90.345 |
99.379 |
109.317 |
120.248 |
120.248 |
120.248 |
|
Export Sales |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.000 |
|
Net Sales |
82.132 |
90.345 |
99.379 |
109.317 |
120.248 |
120.248 |
120.248 |
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%
rise/fall [-] in net
sales |
10.00 |
10.00 |
10.00 |
10.00 |
10.00 |
0.00 |
0.00 |
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Operating profit |
8.581 |
9.363 |
10.717 |
16.231 |
22.571 |
23.080 |
23.655 |
|
Profit Before Tax |
9.781 |
10.663 |
12.117 |
17.731 |
24.171 |
24.680 |
25.255 |
|
PBT/ Sales (%) |
1.191 |
1.180 |
1.219 |
1.622 |
2.010 |
2.052 |
2.100 |
|
Profit After Tax |
6.457 |
7.038 |
7.999 |
11.704 |
15.956 |
16.291 |
16.671 |
|
Cash Accrual |
9.021 |
9.602 |
10.563 |
14.268 |
18.520 |
18.855 |
19.235 |
|
Paid up Capital |
7.073 |
7.073 |
7.073 |
7.073 |
7.073 |
7.073 |
7.073 |
|
TNW |
13.193 |
20.231 |
28.229 |
39.933 |
55.889 |
72.180 |
88.851 |
|
TOL/TNW (Times) |
0.445 |
0.271 |
0.181 |
0.123 |
0.084 |
0.059 |
0.043 |
|
|
|
|
|
|
|
|
|
|
Adjusted TOL/TNW |
|
|
|
|
|
|
|
|
NWC |
13.405 |
18.208 |
23.970 |
32.438 |
44.158 |
45.013 |
47.348 |
|
Current Ratio |
1.43 |
1.57 |
1.73 |
1.91 |
2.15 |
2.16 |
2.30 |
BRIEF
COMMENTS ON FINANCIAL INDICATORS ARE:
NET
SALES:
The net sale of the company is showing a gradual increase
trend every year. It shows a rise of sales of 10.00% in all the years up to
2012 and kept as constant for the remaining years for the sales to be projected
on conservative basis and the company is confident of achieving its sales
target. The sales projected by the company appear to be achievable.
PBT/
NET SALES %:
The profitability i.e. PBT/Net Sales % is 3.70% in the year
2007-08, 11.80% in the year 2009-10 and 16.227% in the year 2011-12 and so on.
The profit during every year is also on the increase as compared to the last
year. This is indicative of the moderate growth being achieved by the company.
NET
WORTH:
The net worth of the company is also gradually increasing
year after year which is evident from the chart depicted above. This is
positive factor which shows that entire profits of the company are ploughed
back in to the systems.
TOL/
TNW:
During the year 2009-10 the TOL/ TNW will improve to 2.71 as
compared to 7.19 in the year 2007-08. This improvement is due to entire profits
of 7.038 Millions ploughed back. This is again a positive factory since the
dependence on borrowed funds is continuously decreasing which is further proved
in the year 2010-2011 and so on.
CURRENT
RATIO:
The current ratio of the company is increasing every year.
The company is maintaining current ratio of 1.43 in the year 2008-2009. During
the year 209-2010, the level to current ratio will improve substantially to
1.57 and in the year 2010-13 to 2.15 as compared to 1.91 in the previous year
2011-12. The improvement is due to adoption of prudent finance policy by using
the internal accruals for working capital purposes. The company during the year
2009-2010 will invest internal accruals of Rs.9.602 Millions in the working
capital which will further improve in the succeeding years.
BANK
FINANCE/ CURRENT ASSETS:
This ratio is also gradually decreasing every years. This is
due to utilization of more internal accruals to cater the working capital
requirement without raising the adequate bank facilities. It has gradually
improved to 11.94% in the year 2014 as compared to 22.56% in the years 2008-09.
BUSINESS FIGURES FOR THE LAST THREE YEARS
(RS. IN MILLIONS)
|
Parameter |
2008 |
2007 |
2006 |
|
|
|
|
|
|
Sales |
74.665 |
78.762 |
42.551 |
|
Purchases |
0.887 |
1.759 |
0.545 |
|
Net Profit |
1.683 |
(2.457) |
(1.237) |
|
Capital |
8.072 |
8.072 |
7.803 |
|
Reserve |
1.827 |
1.827 |
+
10.00 Shares Application Money |
PRESENT BANKERS NATURE AND EXTENT OF CREDIT FACILITIES ENJOYED
(RS. IN MILLIONS)
|
Name
o the Bank and Branch |
Nature of facility |
Existing credit limits |
Outstanding Balance |
|
|
|
|
|
|
SIDBI |
Term
loan |
3.500 |
3.500 |
|
|
|
|
|
|
RAMC Private Limited |
Term
Loans Equity
Facilities |
29.000 1.000 |
29.000 1.000 |
|
|
|
|
|
|
Corporation Bank |
Working
Capital Limited |
5.000 |
5.000 |
DETAILS OF CREDIT LIMITS SOUGHT
(RS. IN MILLIONS)
|
Nature
of facility |
Amount |
Purpose |
Repayment |
|
|
|
|
|
|
Working Capital |
10.000 |
To
meet Working Capital Requirement |
As
per Bank Norm |
|
|
|
|
|
|
Term loan |
33.500 |
To
SIDBI and RAMC Private Limited |
As
per Bank Norm |
DETAILS OF SECURITIES PRIME AS WELL AS COLLATERAL OFFERED
(RS. IN MILLIONS)
|
Type
of Securities |
Name pf Owner/ Title Holder/ Insured
Depositor |
Location of the property |
|
|
|
|
|
Commercial Property |
Dashmesh
InfoTech Private Limited |
F-3,
Sector – 8, Noida |
PROJECT AT A GLANCE
|
New Project/ Modernisation/ Expansion Diversification |
Existing Project |
|
|
|
|
Capital Composition |
Term Loan Rs.39.767 Millions as on 31.03.2008 Promoters Capital Rs.7.804
Millions |
|
|
|
|
Turnover over a period of years |
Rs.741.917 Millions |
|
|
|
|
Technical Know-how |
Indigeneous |
|
|
|
|
Working Capital |
Rs.6.167 Millions |
|
|
|
|
Promoters Contribution to Total Project |
16.31% |
|
|
|
|
D.S.C.R. |
3.24 (Average for years) |
|
|
|
|
Facilities Proposed |
Fund Based (W.C.) Rs.10.000 Millions Term loan Rs.33.500 Millions (Take over from SIDBI Rs.3.500
Millions and Rs.30.000 Millions from Rajasthan Assets Management Company
Private Limited) |
|
|
|
|
Security |
Mortgage of land admeasuring
817.40 sq. m. and Building thereon situated at Plot No.3, Block F Sector – 8,
Noida, India |
MANAGERIAL COMPETANCE:
MANAGEMENT AND ORGANIZATION STRUCTURE:
Mr. Vivek Agarwal is the CEO of the company. He had heads
all most all the key area of the company and is supported by accounts and
finance head, DGM Sales, DGM Marketing and COO.
All the key personnel have rich and vast experience in their
respective fields and have the potential to do their jobs diligently and with
excellence.
TECHNICAL FEASIBILITY:
AVAILABILITY OF BASIS INFRASTRUCTURE
- INFRASTRUCTURE FACILITIES:
48 Seats ready to use infrastructure facilities conference
rooms, reception, pantry etc.
- WATER AND ELECTRICITY:
The unit will be getting sufficient supply of water from the
water department. Power connection of HP is installed A DG set of 100 KVA is
also installed.
- COMMUNICATION:
Both Delhi and Noida have a vast network as far as
communication is concerned. The communication is very effective and efficient
through telephone, fax, mobile-mail and there is no time lag in communication.
The firm has sufficient professional and technical staff for
production, sales, accounts marketing and quality control and other services.
- POLLUTION:
The unit and its products are totally non-pollutant. The
process does not involve generation of any liquid, gas or chemical substances
which will cause pollution.
COMMERICIAL VIABILITY
FEATURES OF ENGLISH EDGE
- The English
edge programme is a marriage of state – of the – Art Technology and
Instructor Led Training (ILT)
- Customised to
suit the Indian Learner.
- There are
three different product Level 1,2 and 3 to cater to different needs of the
learners.
- Level 1 is of
a basis level. It is meant for learners who are familiar with the language
but have not had the sufficient exposure to it. The exercises and
activities are especially designed to suit their needs.
- Level 2 is of
an intermediate with level and primarily meant for folk who have been
educated with English as s second language. The situations and role plays
are again specific and the listening exercises are all Indian in context.
- Level 3 is an
advanced level programme and is aimed at people who can speak the language
but still need to refine and polish their skills. Here learners graduate
to a higher level and are exposed to foreign accents to help them improve
their communication skills.
STRENGTHS
- Long experience of promoters and associates in the Industry
- Highly Technically Management and Key Personnel
- Independent Dedicated Marketing Team
- Assured market for its existing products
- Steady growth in the market for the products
OPPORTUNITIES
Stronger marketing efforts focusing on the elearning market
in the professional and corporate sector
THREATS
- Competition in the market
- Price War
ANALYSIS
AND BALANCE SHEET
(RS.
IN MILLIONS)
|
CURRENT
LIABILITIES |
2008-09 |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
|
|
Projected |
||||||
|
01 Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
I] From Applicant Bank |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
|
Ii] From Other Banks |
- |
- |
- |
- |
- |
- |
- |
|
Iii] (Of which BP & BD) |
- |
- |
- |
- |
- |
- |
- |
|
Sub Total [A] |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
|
|
|
|
|
|
|
|
|
|
02 Short Term Borrowings from others |
- |
- |
- |
- |
- |
- |
- |
|
03 Sundry creditors [Trade] |
12.792 |
13.431 |
14.103 |
14.808 |
15.548 |
15.548 |
15.548 |
|
04 Advance payments from customers / Deposits from dealers
|
- |
- |
- |
- |
- |
- |
- |
|
05 Provision for tax [net of Tax paid] |
3.325 |
3.624 |
4.119 |
6.027 |
8.216 |
8.389 |
8.584 |
|
06 Dividend and Dividend Tax payable |
- |
- |
- |
- |
- |
- |
- |
|
07 Other statutory liabilities [due within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
08 Deposits / Installments of term loans/ DPGs/
debentures, etc [due within one year] |
4.800 |
4.800 |
48.00 |
4.800 |
4.800 |
4.800 |
2.300 |
|
09 Other current liabilities and provisions [due within
one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Sub – Total [B] |
20.917 |
21.855 |
23.022 |
25.635 |
28.564 |
28.737 |
26.432 |
|
10 TERM LIABILITIES
|
30.917 |
31.855 |
33.022 |
35.635 |
38.564 |
38.737 |
36.432 |
|
|
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
|
11 Debentures [not maturing within one year] |
- |
- |
- |
- |
- |
- |
- |
|
12 Preference Shares [Redeemable after 1 year] |
- |
- |
- |
- |
- |
- |
- |
|
13 Term loans [excluding installments payable within
one year] |
26.300 |
21.500 |
16.700 |
11.900 |
7.100 |
2.300 |
0.00 |
|
14 Deferred Payment Credit |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
15 Term deposit [repayable after one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
16 Other Term Liabilities |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
|
17 TOTAL TERM
LIABILITIES |
27.800 |
23.00 |
18.200 |
13.400 |
8.600 |
3.800 |
1.500 |
|
18 TOTAL OUTSIDE
LIABILITIES |
58.717 |
54.855 |
51.222 |
49.035 |
47.164 |
42.537 |
37.932 |
|
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
19 Ordinary Shares Capital |
7.073 |
7.073 |
7.073 |
7.073 |
7.073 |
7.073 |
7.073 |
|
20 General Reserve |
- |
- |
- |
- |
- |
- |
- |
|
21 Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
|
22 Other Reserves [Excluding provisions] |
- |
- |
- |
- |
- |
- |
- |
|
23 Surplus [+] or deficit [-] in Profit and Loss Account |
6.120 |
13.158 |
21.156 |
32.860 |
48.816 |
65.107 |
81.778 |
|
|
|
|
|
|
|
|
|
|
24 NET WORTH |
13.193 |
20.231 |
28.229 |
39.933 |
55.889 |
72.180 |
88.851 |
|
25TOTAL LIABILITIES |
71.909 |
75.086 |
79.451 |
88.968 |
103.053 |
114.717 |
126.783 |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 Cash and Bank Balance |
|
|
|
|
|
|
|
|
I] Fixed deposit with bank |
0.527 |
0.817 |
0.916 |
1.060 |
1.659 |
1.684 |
1.714 |
|
|
|
|
|
|
|
|
|
|
28 I] Receivables other than deferred and exports
[Including bills purchased and discounted by banks] |
38.302 |
43.141 |
48.155 |
58.275 |
71.506 |
72.508 |
72.508 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
- |
- |
- |
- |
- |
- |
- |
|
29 Installments of Deferred receivables [due within
one year] |
- |
- |
- |
- |
- |
- |
- |
|
30 Inventory |
|
|
|
|
|
|
|
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
0.293 |
0.305 |
0.321 |
0.338 |
0.357 |
0.358 |
0.358 |
|
II] Stock – in – process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
II] Finished Goods |
0.293 |
0.305 |
0.321 |
0.338 |
0.357 |
0.358 |
0.358 |
|
IV] Other consumable spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
31 Advances to suppliers of raw materials and stores |
3.200 |
3.500 |
5.000 |
5.500 |
6.000 |
6.000 |
6.000 |
|
32 Advance payment of taxes [NET] |
- |
- |
- |
- |
- |
- |
- |
|
33 Other current assets |
2.000 |
2.300 |
2.600 |
2.900 |
3.200 |
3.200 |
3.200 |
|
34 TOTAL CURRENT
ASSETS |
44.322 |
50.063 |
56.992 |
68.073 |
82.722 |
83.750 |
83.780 |
|
|
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
|
35 Gross Block |
35.909 |
35.909 |
35.909 |
35.909 |
35.909 |
35.909 |
35.909 |
|
36. Depreciation to date |
10.322 |
12.886 |
15.450 |
18.014 |
20.578 |
23.142 |
25.706 |
|
|
|
|
|
|
|
|
|
|
37 NET BLOCK |
25.587 |
23.023 |
20.459 |
17.895 |
15.331 |
12.767 |
10.203 |
|
|
|
|
|
|
|
|
|
|
OTHER
NON – CURRENT ASSETS |
|
|
|
|
|
|
|
|
38 Investments/ book / debts/ advances/ deposits which are
not Current Assts |
2.000 |
2.000 |
2.00 |
3.000 |
5.000 |
18.200 |
32.800 |
|
39 Non consumables Stores and Spares |
- |
- |
- |
- |
- |
- |
- |
|
40 Other non – current assets (including dues from
directors) |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
41
TOTAL OTHER NON – CURRENT ASSETS [38 to 40] |
2.000 |
2.000 |
2.00 |
3.000 |
5.000 |
18.200 |
32.800 |
|
42 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
43
TOTAL ASSETS |
71.909 |
75.086 |
79.451 |
88.968 |
103.053 |
114.717 |
126.783 |
FIGURES IN ITALICS REPRESENTS ESTIMATES TAKEN AT THE TIME OF THE
LAST RENEWAL
|
OTHER
RATIO |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Cost Sales % |
97.76 |
89.55 |
89.64 |
89.22 |
85.15 |
81.23 |
80.81 |
80.33 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales/ TTA (Times) |
1.18 |
1.14 |
1.20 |
1.25 |
1.23 |
1.17 |
1.05 |
0.95 |
|
|
|
|
|
|
|
|
|
|
|
PBDIT |
95.49 |
166.42 |
178.49 |
187.27 |
237.65 |
295.79 |
295.62 |
295.61 |
EFFICIENCY RATIOS:
|
Particular |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
|
Projected |
|||||||
|
Net Sales/ Total Tangible Assets (Times) |
1.18 |
1.14 |
1.20 |
1.25 |
1.23 |
1.17 |
1.05 |
0.95 |
|
|
|
|
|
|
|
|
|
|
|
PBT/ Total Tangible Assets |
4.36 |
13.60 |
14.20 |
15.25 |
19.93 |
23.46 |
21.51 |
19.92 |
|
|
|
|
|
|
|
|
|
|
|
Operating Cost to Sales (%) |
97.76 |
89.55 |
89.64 |
89.22 |
85.15 |
81.23 |
80.81 |
80.33 |
|
|
|
|
|
|
|
|
|
|
|
Bank Finance/ Current Assets (%) |
17.50 |
22.56 |
19.97 |
17.55 |
14.69 |
12.09 |
11.94 |
11.94 |
RISK RATING RELATED RATIOS
|
Current Ratio |
1.54 |
1.43 |
1.57 |
1.73 |
1.91 |
2.15 |
2.16 |
2.30 |
|
TOL/TNW (Times) |
7.19 |
4.45 |
2.71 |
1.81 |
1.23 |
0.84 |
0.59 |
0.43 |
|
PBDIT/ Interests (Times) |
2.82 |
3.87 |
3.86 |
4.63 |
6.85 |
10.40 |
12.75 |
16.97 |
|
PAT/ Net Sales (%) |
2.27 |
7.86 |
7.79 |
8.05 |
10.71 |
13.27 |
13.55 |
13.86 |
|
ROCE (%) (PBDIT/ TA) |
15.06 |
23.14 |
23.77 |
23.57 |
26.71 |
28.70 |
25.77 |
23.32 |
|
INV+REC./ Sales (Days) |
147 |
172 |
176 |
178 |
196 |
218 |
221 |
221 |
ABF ASSESSMENT
|
Particular |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
|
Projected |
||||||
|
Total CA |
44.322 |
50.063 |
56.992 |
68.073 |
82.722 |
83.750 |
83.780 |
|
|
|
|
|
|
|
|
|
|
Other CL (Except Bank ) |
20.917 |
21.855 |
23.022 |
25.635 |
28.564 |
28.737 |
26.432 |
|
|
|
|
|
|
|
|
|
|
Working Capital Gap |
23.405 |
28.208 |
33.970 |
42.438 |
54.158 |
55.013 |
57.348 |
|
|
|
|
|
|
|
|
|
|
Net Working Capital |
13.405 |
18.208 |
23.970 |
32.438 |
44.158 |
45.013 |
47.348 |
|
|
|
|
|
|
|
|
|
|
Assessed Bank Finance |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
10.000 |
|
Particular |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
|
Projected |
||||||
|
NWC to TCA (%) |
30.25 |
36.37 |
42.06 |
47.65 |
53.38 |
53.75 |
56.51 |
|
|
|
|
|
|
|
|
|
|
Bank Finance to TCA (%) |
22.56 |
19.97 |
17.55 |
14.69 |
12.09 |
11.94 |
11.94 |
|
|
|
|
|
|
|
|
|
|
Other CL to TCA (%) |
47.19 |
43.66 |
40.39 |
37.66 |
34.53 |
34.31 |
31.55 |
FUND
FLOW (DETAILED)
[RS IN MILLIONS]
|
SOURCES |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
|
Projected |
||||||
|
|
|
|
|
|
|
|
|
|
1 Net Profit [after tax] |
6.457 |
7.038 |
7.999 |
11.704 |
15.956 |
16.291 |
16.671 |
|
[a] Depreciation |
2.564 |
2.564 |
2.564 |
2.564 |
2.564 |
2.564 |
2.564 |
|
[b] Increase in Capital |
(1.000) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[d] Increase in Deferred Payment Credits Decrease in |
|
|
|
|
|
|
|
|
Fixed Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
TOTAL
|
8.021 |
9.602 |
10.563 |
14.268 |
18.520 |
18.855 |
19.235 |
|
|
|
|
|
|
|
|
|
|
USES
|
|
|
|
|
|
|
|
|
[a] Net Loss |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Decrease in Term Liabilities [Including A Closely Held Public
Limited Liability Company Deposits] |
5.000 |
4.800 |
4.800 |
4.800 |
4.800 |
4.800 |
2.300 |
|
[c] Increase in |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Non Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Fixed Assets [Net] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[d] Dividend |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[e] Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Total
|
5.000 |
4.800 |
4.800 |
4.800 |
4.800 |
4.800 |
2.300 |
FUNDS FLOW STATEMENT (SUMMARY)
(RS. IN MILLIONS)
|
3 Long – Term Surplus/ Deficit |
3.021 |
4.802 |
5.763 |
9.468 |
13.720 |
14.055 |
16.935 |
|
|
|
|
|
|
|
|
|
|
4 Increase/ Decrease in Current Assets |
9.088 |
5.741 |
6.929 |
11.081 |
14.649 |
1.028 |
0.030 |
|
|
|
|
|
|
|
|
|
|
5 Increase/ Decrease in Current Liabilities other than
bank borrowings. |
4.230 |
0.939 |
1.166 |
2.613 |
2.929 |
0.173 |
(2.305) |
|
|
|
|
|
|
|
|
|
|
6 Increase / Decrease in Working Capital Gap |
4.858 |
4.802 |
5.762 |
8.468 |
11.720 |
0.855 |
2.335 |
|
|
|
|
|
|
|
|
|
|
7 Net Surplus [+] / Deficit [-] |
(1.838) |
0.000 |
0.000 |
1.000 |
2.000 |
13.200 |
14.600 |
|
|
|
|
|
|
|
|
|
|
8 Increase / Decrease in Bank Borrowings |
3.833 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
FUNDS FLOW STATEMENT
(RS. IN MILLIONS)
|
Particular |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
|
Projected |
||||||
|
Long term Sources |
8.021 |
9.602 |
10.563 |
14.268 |
18.520 |
18.855 |
19.235 |
|
Long Term Uses |
5.000 |
4.800 |
4.800 |
4.800 |
4.800 |
4.800 |
2.300 |
|
Surplus/ Deficit |
3.021 |
4.802 |
5.763 |
9.468 |
13.720 |
14.055 |
16.935 |
MOVEMENT OF TNW (CORPORATE)
(RS. IN MILLIONS)
|
Particular |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
|
Projected |
||||||
|
|
|
|
|
|
|
|
|
|
Opening Balance |
7.736 |
13.193 |
20.231 |
28.229 |
39.933 |
55.889 |
72.180 |
|
Add: |
|
|
|
|
|
|
|
|
I] Profit (-) Loss After Tax |
6.457 |
7.038 |
7.999 |
11.704 |
15.956 |
16.291 |
16.671 |
|
II] Increase in Capital |
(1.000) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
III] Decrease (-) Inc. In Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
IV] Increase (-)/Decrease
in Reserves |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
V] Adjust Prior Year Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Less: |
|
|
|
|
|
|
|
|
Dividend Paid (Incl. Div Tax)/ Withdraw |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
TNW |
13.193 |
20.231 |
28.229 |
39.933 |
55.889 |
72.180 |
88.851 |
MOVEMENT OF TNW (NON CORPORATE)
(RS. IN MILLIONS)
|
Particular |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
|
Projected |
||||||
|
|
|
|
|
|
|
|
|
|
Opening Balance |
7.736 |
13.193 |
20.231 |
28.229 |
39.933 |
55.889 |
72.180 |
|
Increase in Capital # |
7.284 |
7.038 |
7.999 |
11.704 |
15.956 |
16.291 |
16.671 |
|
III] Decrease (-) Inc. In Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
IV] Increase (-)/Decrease
in Reserves |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Closing Balance |
15.020 |
20.231 |
28.229 |
39.933 |
55.889 |
72.180 |
88.851 |
(RS. IN MILLIONS)
|
Calculation
of DSCR |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
|
Projected |
||||||
|
Cash Accrual |
9.021 |
9.602 |
10.563 |
14.268 |
18.520 |
18.855 |
19.235 |
|
Interests on Term Loan |
3.372 |
2.796 |
2.220 |
1.644 |
1.068 |
0.492 |
0.033 |
|
Total |
12.393 |
12.398 |
12.783 |
15.912 |
19.588 |
19.347 |
19.268 |
|
|
|
|
|
|
|
|
|
|
Interests on Terms Loans |
3.372 |
2.796 |
2.220 |
1.644 |
1.068 |
0.492 |
0.033 |
|
Installment of Loan |
4.800 |
4.800 |
4.800 |
4.800 |
4.800 |
4.800 |
2.300 |
|
Total
|
8.172 |
7.596 |
7.020 |
6.444 |
5.868 |
5.292 |
2.333 |
|
|
|
|
|
|
|
|
|
|
DSCR |
0.152 |
0.163 |
0.182 |
0.247 |
0.334 |
0.366 |
0.826 |
FORM
8:
|
Corporate
identity number of the company |
U93010DL2002PTC117667 |
|
Name of the
company |
LIQVID ELEARNING SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
59, Mandakini NRI Colony, Greater Kailash – IV, New Delhi – 110019,
India |
|
This form is for |
Creation of Charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
Rajasthan Assets Management Company Private Limited C/O RIICO Limited, Udyog Bhawan, Tilak Marg, Jaipur – 302005,
Rajasthan, India CIN No.: U65999RJ2002PTC017380 |
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
23.03.2006 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Investment
Through Equity and 8.5% Optional Convertible secured debentures of Rs.30.000 Millions.
Interests payable on OCD’s upon Terms and Conditions contained in the
subscription-cum-share holders agreement dated 23.03.2006. (with minimum
guaranted return of 15% on internal rate of returns on the entire investment
of Rs.30.000 Millions. |
|
Particulars of
the property charged |
The movables,
Plant and Machinery, Spares Tools. |
FIXED
ASSETS:
- Computers
- Furniture and Fixture
- Office Equipment
- Leasehold Improvement
- Car
WEBSITE
DETAILS:
PROFILE:
Subject is
based on two root words: 'Liquidus'
- Latin for 'fluid' or 'flowing', and 'Vid'
- Sanskrit for 'to know'. Company, by definition, takes the shape of the mould.
Company’s philosophy hinges upon the idea of personalized - learning that takes
the shape of the learner. With Fortune 500 Clients and top Training
Institutions across the world as its Partners, Company is the fastest growing
integrated eLearning content solutions company from India.
Company is specially known for its learning content development work in domains
such as IT, Telecom, Publishing, and English Language Training (ELT). Based out
of Noida, a suburb of New Delhi, India, company has world class infrastructure
that delivers quality learning services that include Custom Content
development, Training Design services, Technology Services, and Learning
Support Services for Corporations, Academic Institutions and Government
Organizations across the world.
Company is a venture launched by key members of egurucool.com, which had
established itself as India's foremost eLearning brands, created over 8,000
hours of eLearning content and had tied-up with over 1,600 schools.
Company is a preferred offshore vendor for Hewlett Packard (HP), USA and has
executed several prestigious projects for organizations like Motorola, IBM, Hughes,
American Express, BBC Learning, Harcourt, and Oracle.
MANAGEMENT TEAM:
Mr.
Vivek Agarwal – CEO
Vivek has done his MBA in 1995 from the prestigious Indian Institute of
Management Calcutta, where he majored in Finance and Business Strategy. He is a
visiting faculty to the International Management Institute, New Delhi.
Towards the end of 1998, he saw a huge opportunity to make a difference in the
area of education by leveraging the newly emerging technologies to education to
the masses in India and eGurucool was thus born. eGurucool raised over US$11
million in venture capital financing and emerged as the pioneer in the field of
eLearning in India, combining a unique learning methodology and a huge
infrastructure of technology and content creation processes. The Investors
included Newscorp and IFC, Washington. The business has now been acquired by
India’s education company, NIIT.
Vivek is committed to exploring how technology can be used to make high quality
education and training, available to the billions of people at a cost that they
can afford and at a place they can reach.
MR. Manish Upadhyay – COO
Manish has co-founded company. He has over twelve years of experience in the
eLearning industry. He has worked with NIIT and Lionbridge Technologies
(formerly, Mentorix) and has exposure in working across all major eLearning
segments including K-12 and corporate segments.
In the K-12 segment as part of a pioneering team he produced edutainment titles
(under the Leda brand name, for Indian market) and also helped shape the Smart
schools project for Ministry of education –Malaysia. In the corporate segment
he has managed projects for companies like Intel, P&G, Emerson, HP,
Microsoft, Singapore Airlines, Smartforce, amongst others. Besides he has also worked
extensively with the publishing Industry and especially with Pearson and
Harcourt. His expertise in the field has been function of his varied work
portfolio that ranges from Simulations including hardware, software, soft
skills and business simulations; high end media rich courses involving 3D
media; localization projects in diverse languages; blended learning projects
and conceptualization of innovative learning approaches like movie based
language learning models.
Amongst his key assignments he has managed the eLearning content division of an
Offshore Development Center (ODC) for one of the world’s largest publishing
company. As part of his responsibilities here he built a team of nearly 200
eLearning professionals where he also helped roll out SEI-CMM Level 5, ISO 9001
and PMI certifications. He also values his contribution towards building an
enterprise literally from scratch in his capacity as VP –Technology for one of
the B2B ecommerce initiative.
Company was earlier responsible for solutions and pre sales (as CLO) before his
present role as COO where he leads the operations team incl. HR, IT and Admin
functions. As part of his responsibility he is looking at operations of
Services as well as English Product businesses.
Manish is an engineering graduate from the BIT (Birla Institute of Technology)
Mesra, and has a Masters degree in Management from the IIT (Indian Institute of
Technology) Delhi. His key areas of interest include leveraging Web2.0 based
collaboration centric learning and learning @ real life simulations.
Manish envisions eLearning as a cost liberated pervasive media that is
accessible to all and responsive to every particular learning need.
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.48.62 |
|
UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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 |
|