MIRA
INFORM REPORT
|
Report Date : |
12.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
QUICK HEAL TECHNOLOGIES PRIVATE LIMITED (w.e.f. 07.08.2007) |
|
|
|
|
Formerly Known
As : |
CAT COMPUTER SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
603, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.08.1995 |
|
|
|
|
Com. Reg. No.: |
11-091408 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 76.337
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1995PTC091408 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC4207H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Internet Security Solutions. |
|
|
|
|
No. of Employees
: |
210 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Financial position
of the company appears to be sound. Performance capability of the company is
good. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Shailesh Ranjhhod |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-20-41060400 |
|
Date : |
09.08.2013 |
LOCATIONS
|
Registered/ Head Office : |
603, Mayfair Towers II, Wakdewadi Shivajinagar, Pune – 411005, |
|
Tel. No.: |
91-20-41060400/ 66025985 / 66835900 |
|
Fax No.: |
91-20-41060401/66835901 |
|
E-Mail : |
|
|
Website : |
http://www.quickheal.com |
DIRECTORS
As on 27.07.2012
|
Name : |
Mr. Kailash Sahebrao Katkar |
|
Designation : |
Managing Director |
|
Address : |
B-101, Omkar, Puru HSG Society, |
|
Date of Birth/Age : |
01.11.1966 |
|
Date of Appointment : |
17.08.1995 |
|
PAN No.: |
AGFPK4175P |
|
DIN No.: |
00397191 |
|
|
|
|
Name : |
Mr. Sanjay Sahebrao Katkar |
|
Designation : |
Managing Director |
|
Address : |
SA 11, Siddeshwar Nagar, |
|
Date of Birth/Age : |
29.11.1970 |
|
Qualification : |
Master of Computer Science |
|
Date of Appointment : |
17.08.1995 |
|
PAN No.: |
AEHPK3424K |
|
DIN No.: |
00397277 |
|
|
|
|
Name : |
Mr. Sumir Chadha |
|
Designation : |
Director |
|
Address : |
1512, Floribunda, Avenue Apartment, 301, |
|
Date of Birth/Age : |
23.04.1971 |
|
Date of Appointment : |
08.09.2010 |
|
DIN No.: |
00040789 |
|
|
|
|
Name : |
Mr. Mehul Mulchand Savla |
|
Designation : |
Director |
|
Address : |
1002, Salvation Apartments, Kale Marg, Dadar (West), Mumbai – 400028, |
|
Date of Birth/Age : |
04.04.1974 |
|
Qualification : |
MBA from |
|
Date of Appointment : |
13.06.2011 |
|
DIN No.: |
02137699 |
|
|
|
|
Name : |
Mr. Abhijit Shantaram Jorvekar |
|
Designation : |
Additional Director |
|
Address : |
18/275, Lokmanya Nagar, Sadashiv Peth, Pune – 411030, |
|
Date of Birth/Age : |
17.11.1973 |
|
Date of Appointment : |
22.03.2012 |
|
PAN No.: |
AFDPJ5746A |
|
DIN No.: |
05199551 |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh Ranjhhod |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 27.07.2012
|
Names of Shareholders |
No. of Shares |
|
Kailash Katkar Jointly with Anupama Katkar |
2793923 |
|
Sanjay Katkar and Chhaya Katkar |
2793923 |
|
Anupama Katkar Jointly with Kailash Katkar |
625497 |
|
Chhaya Katkar Jointly with Sanjay Katkar |
625497 |
|
Ripplewave Equity Private Limited, |
13000 |
|
Sequoia Capital |
469123 |
|
Sequoia Capital |
312748 |
|
Total
|
7633711 |
Equity Share Break up (Percentage of Total Equity)
As on 27.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Venture Capital |
6.14 |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
4.10 |
|
Bodies corporate |
0.17 |
|
Directors or relatives of Directors |
89.59 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Internet Security Solutions. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
210 (Approximately) |
|
|
|
|
Bankers : |
·
HDFC Bank Limited, Pune, ·
CITI Bank NA,
Kumar Capital, 2413, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. V. Ghatalia and Associates Chartered Accountants |
|
Address : |
C-401, 4th Floor, |
|
Tel. No.: |
91-20-66016000 |
|
Fax No.: |
91-20-66015090 |
|
PAN No.: |
AACFS6921Q |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Enterprises
owned by directors or major shareholders : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20050000 |
Equity Shares |
Rs.10/- each |
Rs. 200.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7633711 |
Equity Shares |
Rs.10/- each |
Rs. 76.337
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
76.337 |
76.221 |
|
(b) Reserves & Surplus |
|
2027.100 |
1357.420 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
1.167 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2103.437 |
1434.808 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.537 |
1.066 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
3.556 |
1.559 |
|
Total Non-current Liabilities (3) |
|
4.093 |
2.625 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
142.731 |
150.971 |
|
(c) Other current
liabilities |
|
23.321 |
14.975 |
|
(d) Short-term provisions |
|
20.136 |
3.070 |
|
Total Current Liabilities (4) |
|
186.188 |
169.016 |
|
|
|
|
|
|
TOTAL |
|
2293.718 |
1606.449 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
179.613 |
143.473 |
|
(ii) Intangible Assets |
|
8.974 |
3.932 |
|
(iii) Capital
work-in-progress |
|
24.745 |
19.701 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.013 |
0.013 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
217.964 |
202.105 |
|
(e) Other Non-current assets |
|
0.427 |
0.221 |
|
Total Non-Current Assets |
|
431.736 |
369.445 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
1001.341 |
487.025 |
|
(b) Inventories |
|
6.083 |
0.000 |
|
(c) Trade receivables |
|
654.692 |
475.514 |
|
(d) Cash and cash
equivalents |
|
75.481 |
134.753 |
|
(e) Short-term loans and
advances |
|
122.807 |
139.692 |
|
(f) Other current assets |
|
1.578 |
0.020 |
|
Total Current Assets |
|
1861.982 |
1237.004 |
|
|
|
|
|
|
TOTAL |
|
2293.718 |
1606.449 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
71.400 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
595.500 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
666.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
50.016 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
50.016 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
716.916 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
125.287 |
|
|
Capital work-in-progress |
|
|
176.927 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
78.349 |
|
|
DEFERRED TAX ASSETS |
|
|
11.834 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
296.811 |
|
|
Cash & Bank Balances |
|
|
58.296 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
66.243 |
|
Total
Current Assets |
|
|
421.350 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
17.781 |
|
|
Other Current Liabilities |
|
|
74.183 |
|
|
Provisions |
|
|
4.867 |
|
Total
Current Liabilities |
|
|
96.831 |
|
|
Net Current Assets |
|
|
324.519 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
716.916 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1789.769 |
1307.275 |
887.308 |
|
|
|
Other Income |
56.788 |
23.849 |
12.463 |
|
|
|
TOTAL |
1846.557 |
1331.124 |
899.771 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
832.866 |
747.304 |
401.570 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1013.691 |
583.820 |
498.201 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.313 |
14.251 |
7.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
992.378 |
569.569 |
491.138 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
310.442 |
183.782 |
161.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
681.936 |
385.787 |
329.378 |
|
|
|
|
|
|
|
|
|
Less |
Prior Period
Items |
NA |
NA |
3.507 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim dividend on equity shares |
NA |
NA |
6.356 |
|
|
|
Tax on Interim Dividend |
NA |
NA |
1.080 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
318.435 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
30.808 |
31.305 |
NA |
|
|
TOTAL EARNINGS |
30.808 |
31.305 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Internet Security Devices |
6.083 |
0.000 |
0.000 |
|
|
|
Purchase of Software |
1.582 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
7.665 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
89.33 |
51.82 |
42.69 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
2100.000 |
Expected Sales (2013-2014) : Rs. 3000.000 Millions.
The above information has been parted by Mr. Shailesh Ranjhhod (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
36.93
|
28.98 |
36.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
55.45
|
43.57 |
55.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
47.70
|
39.57 |
89.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.40 |
0.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.00
|
7.13 |
4.35 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
- The
registered office of the company has been shifted from 9, Raghunath
Apartment,
- CURRENT MATURITIES OF LONG TERM DEBT: NOT
AVAILABLE
- NO CHARGES
EXIST FOR COMPANY
CORPORATE
INFORMATION
Subject was
incorporated in August 1995. The Company is engaged in the business of
providing Internet Security solutions.
BUSINESS OPERATIONS
The Company
continues to be among the leading Anti Virus companies, and continues to retain
its leadership position in the Indian Antivirus Industry. The Company has been
growing at a substantial pace.
The Company has
clocked gross revenues of 1790.600 Millions in the current year as against
1436.300 Millions in the previous financial year. The Profit after tax has
increased from 385.800 Millions to a whopping 676.800 Millions.
The Company’s
exports have also shown commendable growth. The Company’s continued investments
in innovation and technology has enabled it to undertake a number of diverse
projects and adapt to the ever changing needs of consumers.
The Company
expanded its business presence globally by setting up a subsidiary in
FIXED ASSETS
·
Building
·
Computer
·
Electrical Installations
·
Furniture and Fixture
·
Office Equipments
· Vehicles
NEWS:
QUICK HEAL PLANS INITIAL
PUBLIC OFFER
MUMBAI: Security
software-maker Quick Heal Technologies,
in which venture capital fund Sequoia Capital is an
investor, is preparing for an initial public offering in
India to aid its expansion into new markets and product lines.
Quick Heal, which
expects to file its draft Red Herring prospectus and begin the formal listing
process next year, will be the first Indian anti-virus software company to go
public. And, if no other technology product firm beats it to the bourses, the
first software product company to list in India after iFlex — now Oracle
Financial Services — went public in 2002.
QUICK BOOKS FROM INTUIT
"We're
looking at appointing independent board members as we prepare to list, within
the next 18 months," Sanjay Katkar, co-founder
and chief technology officer of Quick Heal, told ET. The company is also
beginning a process of identifying industry benchmarks to determine its market
valuation.
Given the limited
number of product companies that have listed in
"Valuations
and multiples depend on what similar companies have received at their listing,
but we do not have any similar company that has gone public in India,"
said Sharad Sharma, former head of research and development arm of Yahoo in
India, and part of iSpirt, the industry thinktank for Indian software product
companies.
In 2010, the
Pune-based company was valued at Rs 600 crore, when Sequoia invested Rs 60
crore for a 10% stake. Sales have grown from Rs 10 crore a decade ago, to over
Rs 200 crore this year. The company, which is expanding in
QuickHeal, which
claims a 35% market share in
Kailash Katkar,
47, dropped out of formal schooling in his teens and began his career as a
computer repairman. But seeing the rising relevance of computers, he pushed his
brother Sanjay into graduating with a degree in computer science. Sanjay
Katkar, 42, focussed on developing anti-virus software during his course, which
eventually resulted in the birth of Quick Heal.
Quick Heal, which
has 6 million users, is striking new ground by choosing to list in
Indian technology
and internet companies prefer to list in the
"There is a
dearth of software product companies in
QUICK HEAL SCORES THE CRN
CHANNEL CHAMPION CROWN FOR A RECORD 5TH TIME
Monday June 3, 2013
Quick Heal
Technologies Private Limited, the leading IT security solution provider, has
announced that it has been conferred with the CRN Channel Champion title for
record fifth time in the antivirus (AV) category for consumers. This win comes
close on the heels of the DQWeek’s King of Channels title. In DQWeek’s survey,
channel partners voted Quick Heal as “most channel friendly” company, where the
company outdid its competitors under several factors like channel hierarchy,
margins, geographical presence and popularity among consumers as “essential
AV”.
Mr. Abhijit
Jorvekar, VP Sales and Marketing said, “The award is recognition of our sincere
efforts to be the most partner-friendly vendor. Needless to say, we are
respected not only for serving as a valuable resource for technology integrators
but in fostering trustworthy and mutually beneficial partnerships”. “In our
case, partner goodwill is also generated because of our exceptional tech
support. Cumulatively, we invest in channel partners’ success by offering them
above and beyond additional incentives; tools that will help ensure business
success. This demonstrates a strong commitment to the partnership,” he added.
Quick Heal's
success has been attributed to three factors.
First, Quick Heal
maintains a strong market operating price (MOP) hygiene despite selling its
products at twice the price of its competitors. The company has fixed transfer
prices at each level of the channel, thus ensuring that there is no
undercutting and that partners at every level make assured margins.
Second. The
company places strong emphasis on renewals. Many respondents said that their
revenue from renewals has increased substantially over the past couple of
years. To drive up renewal rates, QH started sending automated reminders.
Consumers who renewed their licenses a day before their last date received an
additional two months on a 12-month renewal. Several QH partners said that
renewals contributed 30-40 percent of their topline but added nearly 60 percent
to their bottom line.
Thirdly, the
company took strategic measures to improve its presence in
Even resellers
selling less than 10 packs a month are benefitted by round-the-year schemes run
by the company that help them accrue benefits. The company also stood out for
having unique customer marketing schemes such as offering 3-year licenses for
the price of a 2-year.
With this laurel
Quick Heal has garnered almost twice the share of votes that it had last year,
the percentage increase being from 29 percent to over 40 percent. .
CRN's annual
Channel Champion awards are based on the results of a series of surveys conducted
with top solution providers. The CRN Channel Champions survey is the largest
and extensive technology integrator market study in the industry, measuring the
overall perceptions of vendor products and services by IT Solution Providers.
Awards are presented to vendors based on the perception of their Channel
partners in the areas of technological satisfaction, support satisfaction and
financial benefits. In continuation with its trend of working on improvements,
Quick Heal (QH) has beaten its own ratings on all channel satisfaction
parameters as compared to its scores last year. One aspect where QH scored far
higher than its competitors was channel profitability.
QUICK HEAL TECHNOLOGIES
ACQUIRES THE INNOVATIVE SURFCANISTER TECHNOLOGY
Friday May 17, 2013
Quick Heal
Technologies today announced it has completed the acquisition of SurfCanister Technology, the unique safe
browsing and internet security based patent pending technology which is based
on Operating System level virtualization, developed by pune based Apoorva
Technologies. The acquisition gives Quick Heal Technologies the ability to
extend its network and device security solutions to the next-generation
security level, allowing its clients and customers to quickly and effectively
protect their digital experiences.
The acquisition
of SurfCanister technology complements and expands Quick Heal strategy to offer
more software-centric solutions to simplify network security management, help
customers, empower mobile workforces, and generate new revenue opportunities
for partners.
The SurfCanister
technology was previously incorporated as a part of the product portfolio as
“Browser Sandbox” during the launch of Quick Heal 2013 series. This acquisition
will strengthen Quick Heal’s range of security solutions by making IT security
more responsive to real-time threats and protect users from identity theft. The
technology’s capability for seamless integration with existing security
solutions quadruples the existing protection.
The SurfCanister
technology team brings strong software development and professional services
skills to support the Quick Heal safe digital experience platform. With the
close of the acquisition, this team joins Quick Heal’s 20 year old Threat
Research and Response Team.
About Quick Heal
Technologies
Quick Heal
Technologies Private Limited is a leading IT security solutions and ISO 9001
certified company. Quick Heal Technologies was founded in 1993 and has been
actively involved in Threat Research and Response over the years. Serving
millions of users worldwide, Quick Heal Technologies employs more than 500
people across 23 branches and partners spread in more than 60 countries with
its headquarters in
The award winning
Quick Heal product family has been established as an industry benchmark in
computer security certified by ICSA Labs, Virus Bulletin, and West Coast Labs
UK. The company is a Red Herring Asia 2009 and Deliotte Fast 50 winner. Quick
Heal has partnered with Microsoft and Intel to provide comprehensive security
solutions that can be easily integrated into the partner’s technology.
About Apoorva Technologies
Apoorva
Technologies is a privately held company with office in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 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. 61.11 |
|
|
1 |
Rs. 94.77 |
|
Euro |
1 |
Rs. 81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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 |
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 |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.