MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELITECORE TECHNOLOGIES PRIVATE LIMITED (W.E.F 17.08.2010) |
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Formerly Known
As : |
ELITECORE TECHNOLOGIES LIMITED |
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Registered
Office : |
904, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.12.1999 |
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Com. Reg. No.: |
04-037038 |
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Capital
Investment / Paid-up Capital : |
Rs.102.310 Million |
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CIN No.: [Company Identification
No.] |
U72900GJ1999PTC037038 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of development and maintenance of computer software. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Not Available |
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Comments : |
Subject is an established company having good track record. There seems some dip in the profit of the company during 2013 however
net worth of the company is satisfactory. Financial position of the company
is good. No borrowing recorded by the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered for 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits: A |
|
Rating Explanation |
Adequate degree of safety it carry low credit risk. |
|
Date |
May 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits: A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
May 2014 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-79-66065606)
LOCATIONS
|
Registered Office : |
904, Silicon Tower, Off. C. G. Road, Ahmedabad – 380006, Gujarat,
India |
|
Tel. No.: |
91-79-66065606 |
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Fax No.: |
91-79-26407640 |
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E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Hemal Madhubhai Patel |
|
Designation : |
Managing Director |
|
Address : |
9, Nicolo Court, New Jersey 085122612, New Jersey, USA |
|
Date of Birth/Age : |
24.09.1962 |
|
Date of Appointment : |
17.12.1999 |
|
DIN No.: |
00805614 |
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|
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Name : |
Mr. Nipam Rameshchandra Shah |
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Designation : |
Director |
|
Address : |
502, Lane No. 2, Satyagrah Chhavani, Cooperative Scoiety, Satellte,
Ahmedabad – 380015, Gujrat, India |
|
Date of Birth/Age : |
16.09.1961 |
|
Date of Appointment : |
17.12.1999 |
|
DIN No.: |
00093697 |
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|
|
|
Name : |
Mr. Jain Nikhil Anilkumar |
|
Designation : |
Managing director |
|
Address : |
362, Saraswati Nagar, Azad, Society, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
16.02.1974 |
|
Date of Appointment : |
01.11.2007 |
|
DIN No.: |
01958156 |
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|
|
|
Name : |
Mr. Shankar Narayanan Madhava Menon |
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Designation : |
Nominee director |
|
Address : |
11th Floor, Brindaban – III, Poonam Nagar, Andheri (East),
Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
08.08.1962 |
|
Date of Appointment : |
11.06.2007 |
|
DIN No.: |
00219212 |
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|
|
|
Name : |
Mr. Mahesh Parasuraman |
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Designation : |
Nominee director |
|
Address : |
402, Kum Kum, Plot No. 597, 16th Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
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Date of Birth/Age : |
19.11.1975 |
|
Date of Appointment : |
11.06.2007 |
|
DIN No.: |
00233782 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
87.47 |
|
Directors or relatives of Directors |
9.26 |
|
Other top fifty shareholders |
3.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of development and
maintenance of computer software. |
GENERAL INFORMATION
|
Customer: |
·
Vodafone ·
Sitra ·
Airtel ·
Telkom Indonesia ·
Idea ·
Airtel ·
MTNL ·
MTS ·
Sparkle ·
Biznet ·
TATA |
|
|
|
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Indian Overseas Bank B.D. Patel House, Naranpura, Ahmedabad - 380006,Gujarat, India |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Heritage Builiding, Usmanpura, Ahmedabad-380013, Gujrat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
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Subsidiary company: |
· Cyberoam Inc. (Earlier known as Elitecore Technologies Private Limited Corp., USA) · Cyberoam Technologies Private Limited · Elitecore Technologies (Mauritius) Limited |
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Joint Venture
Company: |
· Elitecore Tech. Middle East Company. WLL, Bahrain |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10551050 |
Equity Shares |
Rs.10/- each |
Rs. 105.511 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10231043 |
Equity Shares |
Rs.10/- each |
Rs. 102.310
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
102.310 |
12.046 |
251.942 |
|
(b) Reserves & Surplus |
247.167 |
216.703 |
455.033 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.569 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
349.477 |
229.318 |
706.975 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.496 |
1.366 |
2.265 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
21.368 |
15.122 |
31.808 |
|
Total
Non-current Liabilities (3) |
21.864 |
16.488 |
34.073 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
147.174 |
70.251 |
132.391 |
|
(c) Other current liabilities |
169.202 |
80.538 |
69.893 |
|
(d) Short-term provisions |
4.065 |
11.173 |
6.667 |
|
Total
Current Liabilities (4) |
320.441 |
161.962 |
208.951 |
|
|
|
|
|
|
TOTAL |
691.782 |
407.768 |
949.999 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
50.087 |
44.051 |
75.322 |
|
(ii) Intangible Assets |
6.887 |
6.190 |
8.539 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
6.406 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.776 |
1.374 |
22.892 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.008 |
8.946 |
5.946 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
68.758 |
60.561 |
119.105 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
12.487 |
12.673 |
29.973 |
|
(c) Trade receivables |
399.488 |
335.130 |
469.286 |
|
(d) Cash and cash equivalents |
77.271 |
33.885 |
284.675 |
|
(e) Short-term loans and
advances |
129.602 |
36.887 |
38.904 |
|
(f) Other current assets |
4.176 |
18.632 |
8.056 |
|
Total
Current Assets |
623.024 |
437.207 |
830.894 |
|
|
|
|
|
|
TOTAL |
691.782 |
497.768 |
949.999 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
725.770 |
507.190 |
1212.190 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
(A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
58.740 |
52.490 |
227.850 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
13.750 |
9.760 |
18.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
44.990 |
42.730 |
209.550 |
|
|
|
|
|
|
|
Less |
TAX |
15.060 |
10.690 |
45.130 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
29.930 |
32.040 |
164.420 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Income from sales |
376.013 |
299.426 |
632.150 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Data Processing Unit and HDD |
50.493 |
53.026 |
|
|
|
Capital Goods |
1.125 |
1.778 |
|
|
|
TOTAL
IMPORTS |
51.618 |
54.804 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.93 |
3.14 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
6.20 |
8.42 |
17.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.53 |
8.61 |
22.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.19 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94 |
2.70 |
3.98 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
251.942 |
12.046 |
102.310 |
|
Reserves & Surplus |
455.033 |
216.703 |
247.167 |
|
Share Application money
pending allotment |
0.000 |
0.569 |
0.000 |
|
Net
worth |
706.975 |
229.318 |
349.477 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1212.190 |
507.190 |
725.770 |
|
|
|
(58.159) |
43.096 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1212.190 |
507.190 |
725.770 |
|
Profit |
164.420 |
32.040 |
29.930 |
|
|
13.56% |
6.32% |
4.12% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
169.202 |
80.538 |
NA
|
|
|
|
|
|
|
Total |
169.202 |
80.538 |
NA
|
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
During the period, Company has achieved sales (including other income), on a standalone basis, of Rs. 725.770 Millions as against Rs.507.190 Millions during the previous year. The Company has made a Net Profit of Rs. 29.930 Millions as against Rs. 32.040 Millions during the previous year.
The financial results (Telecom Practices) includes financial results of the Company, its wholly owned subsidiaries Elitecore Technologies Middle East Co. WLL, Bahrain and Elitecore Technologies (Mauritius) Limited, Mauritius.
During the period, the Company has achieved consolidated sales (including other income) of Rs. 2247.320 Millions as against Rs. 1607.280 Millions during the previous year. The Company has made a Consolidated Net Profit of Rs. 211.660 Millions as against Rs. 134.110 Millions during the previous year. The consolidated performance mentioned herein above includes the financial results of the Company, its wholly owned subsidiary company Cyberoam Technologies Private Limited, India (CTPL), Elitecore Technologies Middle East Company .WLL, Bahrain, Elitecore Technologies (Mauritius) Limited. as well as the subsidiary of CTPL viz. Cyberoam Inc., USA.
CORPORATE
INFORMATION:
Subject is a private limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company provides OSS/ BSS solutions and Billing and Bandwidth Management solutions to organizations across the globe. Elitecore is a dynamic player with domain expertise in IP-based access technologies and services. Elitecore has over 10 years of solutions, services and support experience and excellence in the telecom vertical in providing OSS BSS solution across voice, video, data and triple play services to Wireline and Wireless Service Providers.
CONTINGENT LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
Guarantees given by Bank on behalf of the Company |
131.595 |
|
Disputed demands of Income Tax |
|
|
Assessment Year 2007-08 |
0.166 |
|
Assessment Year 2009-10 |
2.052 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90105262 |
25/10/2013 * |
200,000,000.00 |
INDIAN OVERSEAS BANK |
B.D.PATEL HOUSE, NARANPURA, AHMEDABAD, GUJARAT |
B88307020 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Buildings
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
Intangible assets
· Copyrights
· Computer software
PRESS RELEASES
FVC SIGNS AGREEMENT WITH ELITECORE AS VALUE ADDED DISTRIBUTOR IN AFRICA
16 JULY 2014
FVC, a leading Value Added Distributor (VAD) in the Middle East and Africa (MEA), has signed a partnership agreement with Elitecore, a trusted IT product company providing Wi-Fi service management, for its 24 Online, a wireless hotspot Management solution allowing customers to monetize their wireless infrastructure. The agreement enhances FVC’s networking portfolio and strengthen its mobility offering to the enterprise sector in the African continent (except South Africa).
Ronald Hajj, Chief Innovation Officer at FVC, said, “As a
VAD committed to providing cutting edge technology to our customers in the
region, the addition of 24 Online will further help our integration partners
offer a monetization option to enterprises in the field of hospitality, health
care, airports, shopping malls and educational institutions in Africa. We will
be investing in local pre-sales teams to help our partners maximize opportunities.”
Elitecore selected FVC for its extensive reach across Africa through regional
partner base in the continent.
According to Samiksh Aggarwal, AVP, Sales, Data Networks at Elitecore, “The
partnership will help drive 24 Online’s expansion in the fast growing Internet
Access management market. We expect to increase our customer base across ISP,
Hospitality and Hotspot segments, which will effectively increase the revenue
and overall market share.
Elitecore will support FVC with its sales, pre sales and marketing teams. There
are plans for joint road shows to help FVC partners realise the full potential
of the product’s revenue generating opportunities both for the partners and
their customers. In addition to brand awareness activities, both companies will
introduce and conduct partner certification programmes in order to give them
the necessary expertise and confidence.
Aggarwal added, “We have a 100 % channel centric go-to-market strategy and we
will appoint regional channel partners, with a view to becoming one of the top
brands in Africa.”
Elitecore’s 24online is fully operational in Africa with satisfied customers
across several sectors including ISPs, hospitality and hotspot segments like
shopping malls, airports, educational institutions etc.
About FVC
FVC is one of the most recognised Value Added Distributors (VAD) across the
Middle East and Africa, having built a successful business in providing cutting
edge technologies in three clear areas of enterprise computing: Unified
Communications, Information Security and Advanced Networking.
With dedicated offices across the region, FVC works through its growing network of channel partners in over 45 countries. Uniquely in the region, its combination of full support for its channel partners and market-leading solutions from emerging technologies provides both FVC’s partners and their customers with the full confidence to invest in integrated next-generation IT and networking solutions.
About Elitecore
Elitecore Technologies is a Carlyle Group investee global IT product company
providing BSS alongside packet core with flexibility of modular as well as
pre-integrated offerings. Its Wi-Fi Service Management Platform (SMP) helps
operators leverage Wi-Fi as an integral part of their heterogeneous networks
strategy to deliver better subscriber experience, reach, availability and
service offerings. Elitecore offerings are compatible to large vendor ecosystem
addressing CSP requirement of faster time to market and better TCO. Being a
traditional IP solutions player, Elitecore products are highly responsive to
next-generation services, fulfilling operator monetization needs across all
access networks
ELITECORE BAGS 3 NEW ORDERS FROM MULTI SERVICE CABLE OPERATORS, DEPLOYS
INTEGRATED REAL TIME BILLING, CHARGING and POLICY CONTROL SOLUTION
JULY 2, 2014
Elitecore Technologies,a leading provider of Integrated Policy, Charging, Billing and Revenue Management solution announces three Cable MSOs (Multi-System Operators) wins for Pay TV and Broadband services; setting up a strong footprint in Asia Pacific Cable market. Elitecore will offer a complete pre-integrated as well as modular stack of Convergent Billing and Subscriber Management, Centralized Product Catalog, PCRF, Online Charging, AAA, Captive Portal, Partner Settlement, Provisioning, Self-care Portals and IP Log Management system that will help these Cable MSOs to ramp up their digitization efforts and quickly capitalize on new revenue opportunities with digital TV and Broadband bundled services for around 5 Mn subscribers.
Asia-Pacific, owning over 55% percent of global Pay TV subscriptions is undergoing a rapid digital TV conversion. Due to mandatory digitization by regulatory bodies to bring full transparency across whole Cable TV ecosystem, MSOs are heavily investing to migrate their analog cable system to digital and maximize revenue opportunities through advanced offerings such as high definition TV, faster internet access, On-demand Music/Content/Video, Triple Play, etc. Elitecore’s high quality, robust solution provides MSOs the needed flexibility and scalability to clearly demonstrate their return on investment.
Says Dhaval Vora, VP, Product Management, Elitecore, “Elitecore Platform will enable the MSO to offer prepaid bundled plans for Pay TV and Data. The platform also enables offer subscription based charging creating new revenue generating opportunities for MSOs, thereby enabling them to offer service flexibility, achieve greater transparency and enhanced customer experience.”
Elitecore’s comprehensive solution offers an integrated product catalog, policy control and charging systems that will enable MSOs quickly roll-out range of customer-centric Ala-carte or Channel bouquet services, launch policy based plans such as zone wise bundled packages, FUP and Quota based plans, turbo boost, targeted promotional offers in real-time thus gaining competitive edge over DTH and IPTV players
Fully compliant with standard regulatory norms, Elitecore solution will effectively mange key information such as number of subscribers and services subscribed by them while fulfilling revenue sharing, settlement and auditing requirements of MSOs, their Resellers (LCOs/JVs) and Broadcasters/Content providers in order to prevent revenue leakage and achieve greater reliability across the whole ecosystem. The solution has extensive reporting and analytics module that will help MSOs to generate reports for regulatory purpose and innovative offer/package planning. The solution has a proven integration experience with multi-vendor ecosystem (Leading CAS vendors/Middleware/STB) that will give MSOs ease in interoperability, prevent vendor lock-in and reduce time to market. With an open, scalable modular architecture, MSOs will be able to quickly launch multiple business models which can be offered to Hotels, ISP and Telcos through a single, convergent platform.
About Elitecore
Elitecore Technologies is a Carlyle Group investee global IT product company
providing BSS alongside packet core solutions with flexibility of modular as
well as pre-integrated offerings. Elitecore offerings are compatible to large
vendor ecosystem leading to CSP’s requirement of faster time to market and
better TCO. Being a traditional IP solutions player, Elitecore products are
highly responsive to next-generation services, fulfilling operator monetization
needs across all access networks.
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.61.34 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.