MIRA INFORM REPORT
|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
AURIONPRO SOLUTIONS LIMITED |
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Registered
Office : |
35th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
31.10.1997 |
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Com. Reg. No.: |
11-111637 |
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Capital Investment
/ Paid-up Capital : |
Rs.168.104 Millions |
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CIN No.: [Company Identification
No.] |
L99999MH1997PLC111637 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA15872D |
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PAN No.: [Permanent Account No.] |
AAACV7297H |
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Legal Form : |
A Public Limited
Liability Company. The Company’s
Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Providing IT Services. |
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No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11350000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst
slowdown in more than a quarter of a century. The data was below an official
estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal
year. However, the current account deficit narrowed sharply to $ 32.4 billion
at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8
billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions
on overseas purchases and muted import of capital goods helped shrink the
current account deficit.
Online retailer
Flipkart has acquired fashion portal Myntra as it prepares to battle with the
rapidly expanding India arm of the global e-commerce giant Amazon. The company
raised $ 210 million from Russian Investment firm DST Global which has also
invested in companies like Facebook, Twitter and Alibaba Group.
General Motors will
start exporting vehicles from its Talegaon plant near Pune in the second half
of 2014. GM was one of the few global carmakers that was using its India plant
only for the domestic market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market research
agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84
billion. The top 10 of the 100 slots were dominated by US companies.
Infosys lost another
heavy weight when B G Srinivas, a board member put in his papers. He is the third
CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to
lead IGate, Balakrishnan joined politics.
Naresh Goyal –
promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the
three months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in
connection with a complaint against the direct selling firm. This is the second
time that he has been taken into custody. A year, ago the Kerala Police had
arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68
countries by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
26.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
26.12.2013 |
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 : |
Ms. Preeti |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-66172600 |
|
Date : |
04.07.2014 |
LOCATIONS
|
Registered Office : |
35th Floor, Sunshine Tower, Tulsi Pipe Road, Near Flower Market, Dadar
(West), Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66172600 |
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Fax No.: |
91-22-66172666 |
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E-Mail : |
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Website : |
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USA Headquarters : |
2410 Camino Ramon #339, San Ramon,
CA 94583 |
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Tel. No.: |
+1-925-242-0777 |
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Fax No.: |
+1-925-242-0778 |
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E-Mail : |
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Branch Offices :
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Located At: ·
Mumbai ·
Bangalore ·
Pune ·
Secunderabad |
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Overseas Offices : |
Located At: ·
Edison, NJ ·
Fort Lauderdale, FL ·
New York, NY ·
Santa Clara, CA ·
West Chester, PA ·
London ·
North Yorkshire ·
Manama ·
Manila ·
Melbourne |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Paresh Zaveri |
|
Designation : |
Chairman |
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Date of Birth / Age : |
46 Years |
|
Qualification : |
Management Graduate |
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|
Name : |
Mr. Amit Sheth |
|
Designation : |
Managing Director |
|
Date of Birth / Age : |
46 Years |
|
Qualification : |
Mechanical Engineer and Management
Graduate |
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|
|
|
Name : |
Mr. Sanjay Desai |
|
Designation : |
Executive Director |
|
Date of Birth / Age : |
50 Years |
|
Qualification : |
Chartered Accountant |
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|
|
|
Name : |
Mr. Vishwanath Prabhu |
|
Designation : |
Non-Executive Director (resigned w.e.f. August 12, 2013) |
|
Date of Birth / Age : |
52 Years |
|
Qualification : |
B Com, LLB (Gen) from Mumbai University and FCA from ICAI |
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|
Name : |
Mr. Samir Shah |
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Designation : |
Non-Executive Director (appointed w.e.f. August 12, 2013) |
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|
Name : |
Mr. Prem Rajani |
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Designation : |
Independent Director |
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Date of Birth / Age : |
46 Years |
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Qualification : |
L.L.B and Solicitor |
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|
|
|
Name : |
Dr. Nikunj Kapadia |
|
Designation : |
Independent Director |
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Date of Birth / Age : |
51 Years |
|
Qualification : |
Professor of Finance |
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|
|
|
Name : |
Dr. Mahendra Mehta |
|
Designation : |
Independent Director |
|
Date of Birth / Age : |
64 Years |
|
|
|
|
Name : |
Mr. Sandeep Daga |
|
Designation : |
Independent Director |
|
Date of Birth / Age : |
45 Years |
|
Qualification : |
B.E. (Electronics) and M.M.S. (Finance) |
KEY EXECUTIVES
|
Name : |
Mr. Mehul Raval |
|
Designation : |
Company Secretary |
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|
|
Audit Committee
: |
Dr. Mahendra Mehta (Chairman) Dr. Nikunj Kapadia Mr. Amit Sheth Mr. Prem Rajani Mr. Sandeep Daga |
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Shareholders’ / Investors’
Grievance and Share Transfer Committee : |
Dr. Mahendra Mehta (Chairman) Mr. Prem Rajani Mr. Sandeep Daga Mr. Amit Sheth |
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Remuneration
/ Compensation Committee : |
Mr. Sandeep Daga (Chairman) Mr. Prem Rajani Dr. Nikunj Kapadia Dr. Mahendra Mehta Mr. Amit Sheth |
SHAREHOLDING PATTERN
As on 31.03.2014
|
Category
of Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2710055 |
14.97 |
|
|
2710055 |
14.97 |
|
|
|
|
|
|
2961301 |
16.36 |
|
|
774047 |
4.28 |
|
|
3735348 |
20.64 |
|
Total
shareholding of Promoter and Promoter Group (A) |
6445403 |
35.61 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
230957 |
1.28 |
|
|
25000 |
0.14 |
|
|
255957 |
1.41 |
|
|
|
|
|
|
2542923 |
14.05 |
|
|
|
|
|
|
997590 |
5.51 |
|
|
4313281 |
23.83 |
|
|
3543044 |
19.58 |
|
|
1705768 |
9.43 |
|
|
53207 |
0.29 |
|
|
107714 |
0.60 |
|
|
600000 |
3.32 |
|
|
818584 |
4.52 |
|
|
257771 |
1.42 |
|
|
11396838 |
62.97 |
|
Total
Public shareholding (B) |
11652795 |
64.39 |
|
Total
(A)+(B) |
18098198 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
18098198 |
0.00 |
Individual shareholders holding nominal share
capital up to Rs.0.100 million
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Amit
Sheth |
1016804 |
5.62 |
|
Sanjay
Desai |
797631 |
4.41 |
|
Bhavesh
Talsania |
484240 |
2.68 |
|
Paresh
Zaveri |
2704301 |
14.94 |
|
Bhavesh
Zaveri |
91348 |
0.50 |
|
Hitesh
Zaveri |
60103 |
0.33 |
|
Arti
Desai |
171395 |
0.95 |
|
Anantrai
Desai HUF |
6920 |
0.04 |
|
Purna
Patel |
32000 |
0.18 |
|
Anantrai
Desai |
15360 |
0.08 |
|
Madhukumar
Shah |
27154 |
0.15 |
|
Pradip
Dani |
2800 |
0.02 |
|
Payal
Dani |
2400 |
0.01 |
|
Nalini
Sheth |
1400 |
0.01 |
|
Ashish
Sheth |
200 |
0.00 |
|
Ramesh
Sheth |
300 |
0.00 |
|
Kavita
Zaveri |
257000 |
1.42 |
|
Kairoleaf
Holdings Pte Limitedd |
774047 |
4.28 |
|
Total |
6445403 |
35.61 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Names of Shareholders |
No. of
Shares |
Percentage
of Holding |
|
Reliance
Capital Limited |
1306906 |
7.22 |
|
Insight
Holdings Pte Limited |
600000 |
3.32 |
|
Naishadh
Paleja |
580000 |
3.20 |
|
Sandeep
Daga |
317748 |
1.76 |
|
Rupal
Mehta |
300000 |
1.66 |
|
Mahendra
Mehta |
277838 |
1.54 |
|
Nitiket
Investments Private
Limited |
257800 |
1.42 |
|
Nirav
Shah (Trsutee on behalf of Aurinpro Employees Trust) |
257771 |
1.42 |
|
Atul
Bharani |
250000 |
1.38 |
|
Samir
Shah |
216000 |
1.19 |
|
Tarun
Jain |
213551 |
1.18 |
|
Agog Securities
Brokrages Private Limited |
187000 |
1.03 |
|
Nisha
Sidhwani |
200000 |
1.11 |
|
Naresh
Nagpal |
948365 |
5.24 |
|
R P Seth |
262084 |
1.45 |
|
Total |
6175063 |
34.12 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons (together with PAC) belonging to the category “Public”
and holding more than 5% of the total number of shares of the company
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Reliance Capital Limited |
1306906 |
7.27 |
|
Vishwanath Prabhu |
1030925 |
5.74 |
|
Total |
2337831 |
13.01 |
Details of Locked-in Shares
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Kairoleaf Holdings Pte Limited |
270491 |
1.51 |
|
Paresh Zaveri |
775000 |
4.31 |
|
Rupal Mehta |
250000 |
1.39 |
|
Atul Bharani |
250000 |
1.39 |
|
Nirav Shah (Trustee on behalf of Aurinpro Employees Trust) |
257771 |
1.43 |
|
Pranav Patel |
100000 |
0.56 |
|
Total |
1903262 |
10.59 |
BUSINESS DETAILS
|
Line of Business : |
Providing IT Services. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
·
Abu Dhabi Commercial Bank ·
BDP International ·
Centrica ·
Co-Operative Bank of Kenya ·
FOX News ·
Genentech ·
HDFC Bank |
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
· HDFC Bank Limited · State Bank of India · Axis Bank Limited · Yes Bank Limited ·
Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Statutory
Auditors : |
|
|
Name : |
Chokshi and Chokshi Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Internal
Auditors : |
|
|
Name : |
D. Kothary and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
|
|
|
Subsidiaries : |
· Aurionpro Solutions Pte Limited, Singapore (from April 1, 2003) · Aurionpro Solutions Inc, USA (from December 13, 2005) · Aurionpro Solutions SPC, Bahrain (from April 1, 2006) · Auroscient Outsourcing Limited, India (from July 10, 2006) · E2E Infotech Limited, UK (from July 1, 2007) · Aurionpro Solutions (HK) Limited, Hong Kong (from October 1, 2007) · Integro Technologies Pte Limited, Singapore (from December 7, 2007) · Integro Technologies SDN, BHD, Malaysia (from December 7, 2007) · Integro Technologies Company Limited, Thailand (from April 27, 2011) · Aurofidel Outsourcing Limited, India (from March 8, 2008) · Sena Systems (India) Private Limited, India (from April 1, 2008) · Aurionpro SCM Pte Limited, Singapore (from November 9, 2009) · Aurionpro Solutions PTY Limited, Australia (from December 17, 2009) · Kairoleaf Analytics (S) PTE Limited, Singapore (from April 1, 2010) · PT Aurionpro Solutions, Indonesia (from August 1, 2011) ·
Enline PLC, United Kingdom (from April 1,
2012) |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26150000 |
Equity Shares |
Rs.10/- each |
Rs.261.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16810427 |
Equity Shares |
Rs.10/- each |
Rs.168.104 Millions |
875000 equity shares
of Rs.10/- each fully paid up were issued under the Scheme of Conversion of
Share warrant into Equity shares.
Reconciliation of
the number of shares
|
Equity Shares |
Number
of Shares |
Rs. In Millions |
|
Opening Balance |
15935427 |
159.354 |
|
Shares Issued during the year |
875000 |
8.750 |
|
Closing Balance |
16810427 |
168.104 |
Details of shares
held by shareholders holding more than 5 percent of the aggregate shares in the
company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Mr. Amit Sheth |
981304 |
5.84 |
|
Mr. Sanjay Desai |
797631 |
4.74 |
|
Mr. Paresh Zaveri |
1965301 |
11.69 |
|
Mr. Vishwanath Prabhu |
1030925 |
6.13 |
|
Reliance Capital Limited |
1306906 |
7.77 |
Details of shares
issued pursuant to merger without payment being received in cash
|
Particulars |
Number
of Shares |
|
|
|
|
Fully paid up pursuant to contract(s) without payment being received
in cash |
-- |
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 |
168.104 |
159.354 |
148.466 |
|
(b) Reserves & Surplus |
2532.524 |
2272.391 |
2168.328 |
|
(c) Money
received against share warrants |
131.625 |
0.000 |
10.820 |
|
(d) Equity Share Suspense |
4.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
2836.253 |
2431.745 |
2327.614 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
225.704 |
254.166 |
85.859 |
|
(b) Deferred tax liabilities (Net) |
44.142 |
53.124 |
54.678 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.659 |
|
(d) long-term provisions |
7.221 |
5.574 |
4.998 |
|
Total Non-current Liabilities (3) |
277.067 |
312.864 |
146.194 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
490.786 |
363.769 |
236.393 |
|
(b) Trade payables |
126.279 |
35.808 |
83.686 |
|
(c) Other current
liabilities |
197.655 |
214.229 |
333.495 |
|
(d) Short-term provisions |
31.833 |
20.085 |
54.816 |
|
Total Current Liabilities (4) |
846.553 |
633.891 |
708.390 |
|
|
|
|
|
|
TOTAL |
3959.873 |
3378.500 |
3182.198 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
241.712 |
288.492 |
252.623 |
|
(ii) Intangible Assets |
19.913 |
51.677 |
29.364 |
|
(iii) Capital
work-in-progress |
97.700 |
112.700 |
181.639 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1735.570 |
1684.990 |
1629.078 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
939.269 |
536.596 |
490.174 |
|
(e) Other Non-current assets |
8.515 |
0.462 |
7.920 |
|
Total Non-Current Assets |
3042.679 |
2674.917 |
2590.798 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
77.783 |
50.799 |
49.420 |
|
(c) Trade receivables |
715.277 |
608.209 |
491.238 |
|
(d) Cash and cash
equivalents |
68.275 |
42.418 |
26.943 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
55.859 |
2.157 |
23.799 |
|
Total Current Assets |
917.194 |
703.583 |
591.400 |
|
|
|
|
|
|
TOTAL |
3959.873 |
3378.500 |
3182.198 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1946.604 |
1521.632 |
1172.045 |
|
|
|
Other Income |
114.570 |
79.541 |
(0.414) |
|
|
|
TOTAL (A) |
2061.174 |
1601.173 |
1171.631 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefits expense |
528.847 |
334.312 |
227.474 |
|
|
|
Operation and related expenses |
1042.738 |
807.419 |
601.688 |
|
|
|
Changes in inventories of work-in-progress |
(26.984) |
(1.378) |
(21.219) |
|
|
|
Other Expenses |
132.750 |
87.707 |
0.000 |
|
|
|
TOTAL (B) |
1677.351 |
1228.060 |
807.943 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
383.823 |
373.113 |
363.688 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
122.288 |
93.281 |
83.521 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
261.535 |
279.832 |
280.167 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
123.408 |
129.913 |
84.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
138.127 |
149.919 |
195.905 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.019 |
28.237 |
49.904 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
119.108 |
121.682 |
146.001 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
589.795 |
489.675 |
389.180 |
|
|
|
|
|
|
|
|
|
Add |
ADDITIONAL ON
ACCOUNT OF MERGER |
17.072 |
0.000 |
155.976 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend on equity shares |
21.336 |
15.935 |
35.058 |
|
|
|
Corporate Tax on Dividend |
3.461 |
2.585 |
5.823 |
|
|
|
Transferred to General Reserve |
2.977 |
3.042 |
14.600 |
|
|
BALANCE CARRIED
TO THE B/S |
698.201 |
589.795 |
489.675 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software Products and Services |
818.581 |
540.538 |
444.578 |
|
|
TOTAL EARNINGS |
818.581 |
540.538 |
444.578 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
7.29 |
7.64 |
9.19 |
|
|
|
Diluted |
7.29 |
7.64 |
8.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.78 |
7.60 |
12.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.10 |
9.85 |
16.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.50 |
9.48 |
14.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.06 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.25 |
0.25 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.11 |
0.83 |
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 |
148.466 |
159.354 |
168.104 |
|
Reserves & Surplus |
2168.328 |
2272.391 |
2532.524 |
|
Money received against share warrants |
10.820 |
0.000 |
131.625 |
|
Equity Share Suspense |
0.000 |
0.000 |
4.000 |
|
Net
worth |
2327.614 |
2431.745 |
2832.253 |
|
|
|
|
|
|
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 |
1,172.045 |
1,521.632 |
1,946.604 |
|
|
|
29.827 |
27.929 |
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
|
1,172.045 |
1,521.632 |
1,946.604 |
|
Profit |
146.001 |
121.682 |
119.108 |
|
|
12.46% |
8.00% |
6.12% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
85.775 |
130.611 |
158.812 |
|
Total |
85.775 |
130.611 |
158.812 |
|
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 |
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from related parties |
62.367 |
14.919 |
|
From Others |
|
|
|
Other borrowings (from entities other than banks) |
2.600 |
2.486 |
|
Total |
64.967 |
17.405 |
CORPORATE
INFORMATION:
Since 1997, Aurionpro has created and delivered comprehensive solutions to streamline corporate banking, treasury, fraud prevention and risk management, governance and compliance, and more. Aurionpro completed one of the first commercial Check 21 deployments. Fueled by deep banking domain expertise and industry exposure, Aurionpro performed pioneering work for several leading Asian private sector banks in the areas of Corporate Banking, Treasury and Risk Management. The company provides valuable operational and technical experience in helping banks provide new and innovative products to their customers.
Aurionpro also prides itself on depth and breadth of IT consulting expertise, flexibility and ease of adaptation to effective development and support methodologies, assurance of precise and timely inter-company communications, timeliness of project realization, security of proprietary data and business processes, transfer and retention of business and technical knowledge, responsiveness to unforeseeable resource and skill-specific requirements, and mitigation of financial and political risk. Reflecting its deep domain expertise in the field of banking and financial applications, the company numbers as customers more than 90 banks and financial institutions across the US, Europe, Middle East, South East Asia and South Asia.
OVERVIEW
The financial statements have been prepared under the historical cost convention, on an accrual basis of accounting, in compliance with the requirements of the Companies Act, 1956, the Generally Accepted Accounting Principles (GAAP) in India and mandatory accounting standards issued by the Institute of Chartered Accountants of India (ICAI).
The management of Aurionpro Solutions Limited accepts responsibility for objectivity and integrity of these financial statements, as well as for various estimates and judgments used therein. The estimates and judgments relating to the financial statements have been made on a prudent and reasonable basis, in order that the financial statements reflect in a true and fair manner, the state of affairs and profits for the year.
The management of Aurionpro Solutions Limited is committed to improve the level of transparency and disclosure and, as such, an attempt has been made to disclose herewith information about the company, its business, operations, outlook, risks, and financial condition.
The forward looking statements contained herein are subject to certain risks
and uncertainties, including but not limited to the risks inherent in the
company’s growth strategy, dependency on certain clients, and dependency on
availability of qualified technical personnel and other factors discussed in
this report. Readers are cautioned not to place undue reliance on these forward-looking
statements, which reflect Management’s analysis only as of the date hereof.
FUTURE OUTLOOK
Although there are positive signs that a recovery is imminent, the global economy still struggled during calendar year 2012. IT spending was affected and although early predictions indicated growth of around 3%, a more modest increase of 1.2% was observed, according to Gartner. 2013 promises to be a stronger year, and Gartner estimates that the IT industry will increase by 4.2%, driven by improving market conditions in the U.S.
Aurionpro is poised quite well to continue their growth path during their next fiscal year. The R and D investments discussed earlier in this report, especially around cloud-delivered solutions and mobile apps, are resonating extremely well with their customers and prospects and are enabling us to compete effectively for new business. There Managed Services offerings are also gaining excellent traction and will provide a strong and recurring revenue stream in the upcoming years. This service is already being provided to a Fortune 25 Financial Services company, a Fortune 500 Telecom company, and a publicly held software company, among several others. The benefits to their customers is tangible, and they have built a world-class help desk that enables them to offload the burden of time consuming administrative and support activities. Improved efficiencies can also be achieved as there proven tools and processes, along with the high skill levels of their support teams, enable optimization of system monitoring and issue resolution.
The investments that have also been made with their strategic partners during the previous year have effectively deepened there already strong relationships. Continued focus on fostering these associations in the next year is a core component to their growth plans as these partnerships have accelerated their ability to expand into new markets and geographies. This expansion will also be supported by improved cross-selling of products and services across all Aurionpro business lines. Efforts begun in the past year of streamlining sales, marketing, and delivery processes have helped to identify opportunities across the groups and have enabled us to continue delivering world-class implementations.
FINANCIAL RESOURCES
ESOS
In accordance with the ESOS – 2008 and ESOS – 2010 of the Company the employee have been offered options as per eligible criteria fixed under the scheme. Against each of the above, eligible employee is entitled to acquire one equity share of Rs.10/- each of the company at a price mentioned against the option. The minimum vesting period is one year from the date of grant. Against each option for ESOS – 2008 and ESOS – 2010, 20% can be exercised by the end of first year from the date of grant of options i.e. after May 31, 2010 and April 5, 2012, respectively, 30% can be exercised at the end of second year from the date of grant of the options i.e. after May 31, 2011 and April 5, 2013, respectively and balance 50% can be exercised at the end of third year from the date of grant of the options i.e. after May 31, 2012 and April 5, 2014, respectively.
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 31ST MARCH 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Year Ended ( Unaudited) |
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
594.818 |
556.949 |
2180.885 |
|
b) Other operating income |
0.000 |
0.000 |
0.000 |
|
Total
income from Operations(net) |
594.818 |
556.949 |
2180.885 |
|
2.Expenditure |
|
|
|
|
a) Software development and related expenses |
419.223 |
284.192 |
1289.001 |
|
b) Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(75.425) |
15.637 |
2.358 |
|
c) Employees benefit expenses |
142.937 |
136.404 |
571.113 |
|
d) Depreciation and amortization expenses |
21.181 |
20.093 |
76.143 |
|
e) Other expenditure |
117.763 |
60.757 |
289.289 |
|
Total expenses |
625.679 |
517.083 |
2227.904 |
|
3. Profit from operations before other income and financial costs |
(30.861) |
39.866 |
(47.019) |
|
4. Other income |
161.744 |
(10.983) |
380.686 |
|
5. Profit from ordinary activities before finance costs |
130.883 |
28.883 |
333.667 |
|
6. Finance costs |
45.341 |
26.841 |
125.749 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
85.542 |
2.042 |
207.918 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before
tax Expense: |
85.542 |
2.042 |
207.918 |
|
10.Tax expenses |
(67.230) |
(13.572) |
(61.445) |
|
11.Net Profit / (Loss) from ordinary activities after tax (9-10) |
152.772 |
15.615 |
269.363 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
152.772 |
15.615 |
269.363 |
|
14.Paid-up equity share capital (Nominal value Rs.10 per
share) |
180.982 |
179.682 |
180.982 |
|
15. Reserve excluding Revaluation Reserves as per
balance sheet of previous accounting year |
-- |
-- |
3017.352 |
|
16.i) Earnings per share (before extraordinary
items) of Rs.10 each) (not annualised): |
|
|
|
|
(a) Basic and diluted |
8.48 |
0.44 |
15.29 |
|
ii) Earnings per share (after extraordinary
items) |
|
|
|
|
(a) Basic and diluted |
8.48 |
0.44 |
15.29 |
|
Particulars |
Quarter Ended ( Unaudited) |
Year Ended ( Unaudited) |
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
11,652,795 |
11,612,695 |
11,652,795 |
|
- Percentage of shareholding |
64.39% |
64.63% |
64.39% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
3,614,000 |
4,974,000 |
3,614,000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
56.07% |
78.26% |
56.07% |
|
Percentage of shares (as a % of total share capital of the
company) |
19.97% |
27.68% |
19.97% |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
2,831,403 |
1,381,503 |
2,831,403 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
43.93% |
21.74% |
43.93% |
|
Percentage of shares (as a % of total share capital of the
company) |
15.64% |
7.69% |
15.64% |
|
|
|
|
|
|
B.
Investor Complaints |
|
||
|
Pending at the beginning of the quarter |
Nil |
||
|
Receiving during the quarter |
Nil |
||
|
Disposed of during the quarter |
Nil |
||
|
Remaining unreserved at the end of the quarter |
Nil |
||
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES AS ON 31.03.2014
Rs. In Millions
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(a) Share Capital |
|
|
180.982 |
|
(b) Reserves & Surplus |
|
|
3,017.352 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
3,198.334 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
2.205 |
|
(b) Deferred tax liabilities
(Net) |
|
|
15.167 |
|
(c) Other long term
liabilities |
|
|
3.018 |
|
(d) long-term provisions |
|
|
17.108 |
|
Total
Non-current Liabilities (3) |
|
|
37.498 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
648.982 |
|
(b) Trade payables |
|
|
503.502 |
|
(c) Other current liabilities |
|
|
370.577 |
|
(d) Short-term provisions |
|
|
81.295 |
|
Total
Current Liabilities (4) |
|
|
1,604.356 |
|
|
|
|
|
|
TOTAL |
|
|
4,840.188 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
170.505 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
1,215.255 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
301.374 |
|
(e) Other Non-current assets |
|
|
9.006 |
|
Total
Non-Current Assets |
|
|
1,696.140 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
75.425 |
|
(c) Trade receivables |
|
|
907.399 |
|
(d) Cash and cash equivalents |
|
|
135.369 |
|
(e) Short-term loans and
advances |
|
|
1,634.415 |
|
(f) Other current assets |
|
|
391.440 |
|
Total
Current Assets |
|
|
3,144.048 |
|
|
|
|
|
|
TOTAL |
|
|
4,840.188 |
Notes:
1. The above results were reviewed by the Audit Committee and thereafter approved by the Board of Directors at their meeting held on 30th May, 2014.
2. The Company is an integrated business unit which addresses the software development and system integration vertical. This, in context of Accounting Standard 17 (AS 17) on Segmental Reporting, is considered to constitute one single primary segment.
3. The Board has recommended a dividend of Rs.2 (20%) per equity shares of the face value of Rs.10/- each in its meeting held on 30th May, 2014 subject to approval of the members of the Company at the forthcoming Annual General Meeting.
4. The figures for the quarter ended 31st March 2014 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.
5. The figures for the previous quarter / year have been regrouped / reclassified / restated wherever necessary.
6. Pursuant to conversion of warrants, the Company has allotted 130,000 equity shares to one of the Promoters and Non-Executive Chairman and Director on 25th February 2014. The proceeds from the aforesaid allotment have been utilized by the Company as per the object stated in the explanatory statement to the notice calling for the general meeting for considering preferential issue. There are no variations between projected and actual utilization of funds.
7. The Company at their Board Meeting held on 27th March, 2014, has approved the draft scheme of amalgamation of Intellvisions Software Limited with Aurionpro Solutions limited.
8. During the quarter ended 31 March 2014, the Company has entered into Share Purchase Agreement dated 14 March 2014 and 31 March 2014 with Aurionpro Holdings Pte. Ltd. for sale of two of its subsidiary namely Integro Technologies Pte. Limited, Singapore and Aurionpro Solutions Pty Limited, Australia for a consideration of USD 10000000 and USD 700000 respectively.
9.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10411151 |
28/02/2013 |
10,000,000.00 |
RELIANCE
CAPITAL LIMITED |
570,
Ractifir House, Naigaum Cross Road, Wadala, Mumbai, Maharashtra - 400031,
India |
B70571195 |
|
2 |
10335179 |
24/01/2012 |
100,000,000.00 |
YES
BANK LIMITED |
9th Floor,
Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai,
Maharashtra - 400018, India |
B31954548 |
|
3 |
10311715 |
23/03/2013 * |
331,900,000.00 |
STATE
BANK OF INDIA |
IFB,
Natraj Building, 102, 1st Floor, 194,, Sir M V Road Western Express Highway,
Andheri (E), Mumbai, Maharashtra - 400069, India |
B74786674 |
|
4 |
10264926 |
25/03/2013 * |
944,500,000.00 |
Axis
Bank Limited |
Axis
House, Ground Floor, C-2 Wadia International |
B72217912 |
|
5 |
10030729 |
22/01/2010 * |
310,500,000.00 |
STATE
BANK OF INDIA |
Mid Corporate
Loan Admn. Unit, Shri Hari Bldg., R.T.O. Lane, Four Bunglow, Andheri
(West), Mumbai, Maharashtra - 400053,
India |
A77730836 |
FIXED
ASSETS:
·
Leasehold Improvements
·
Furniture and Fixtures
·
Vehicles
·
Office equipment
·
Air conditioner
·
Computer
·
Goodwill
·
Computer software
NEWS:
AURIONPRO EARNS SOC2 TYPE 1
CERTIFICATION
Demonstrates ongoing commitment to maintaining the
highest levels of information security, availability, and integrity
Wednesday, January 8, 2014
Mumbai, India
(Marketwire)
Aurionpro
is pleased to announce that it’s Pune, India Software Delivery Center, which
provides leading Information Security, Enterprise Portal, Content Management,
and SOA-based software development and consulting services, has earned SOC2
Type 1 Certification.
Independent
auditors carried out the assessment and awarded the designation. This external
validation demonstrates Aurionpro’s ongoing commitment to maintaining the
highest level of information security, availability, and integrity, and builds
on the Pune Software Delivery Center’s previous SSAE16 Type II Information
Security designation.
SOC2
Certification indicates that Aurionpro complies with a comprehensive set of
criteria known as the Trust Services Principles (TSP), which include guidelines
pertaining to the security, availability, and processing integrity of a service
organization’s systems, as well as the confidentiality and privacy of the
information that a service organization's systems process or maintain.
“By
earning SOC2 Certification, we have demonstrated not only that security
controls are defined, but that those controls are being effectively applied
throughout our organization,” said Nirav Shah, Aurionpro’s EVP of Global
Delivery. “Successful completion of this process shows our customers that
Aurionpro takes the security surrounding our development and operational
systems very seriously. It also makes it easier for us to assist our customers
with their internal audit and compliance initiatives surrounding sensitive
health information, financial data, and other confidential information.”
AURIONPRO AND STMT TRISAKTI
UNIVERSITY TAKE SUPPLY CHAIN MANAGEMENT THOUGHT LEADERSHIP TO A NEW LEVEL BY
GRASSROOTS NURTURING OF TALENT THROUGH AN INNOVATIVE EDUCATIONAL CURRICULUM
The ground-breaking partnership will
create a Living Lab on the university’s campus to accelerate the development of
talent focused on supply chain technologies
Tuesday, December 3, 2013
Singapore
(Marketwire)
Aurionpro
and STMT Trisakti, an Indonesia-based private institution of higher education
focused on Transportation Management and Logistics, have collaborated to
provide an innovative educational curriculum to create awareness of supply
chain technologies and best practices through hands-on use of Aurionpro’s
industry-leading SCM platform, SCMProFit. As a forward-looking university, STMT
Trisakti has partnered with Aurionpro based on proven thought-leadership across
the logistics industry and its offering of the market-leading SCM solution,
which includes a cloud-based delivery model and innovative mobile capabilities.
The two parties have agreed to a Memorandum of Understanding to implement a
University Partnership Program making use of Aurionpro’s SCMProFit software.
A
key component of this partnership will be Aurionpro’s direct involvement in the
university's campus by helping to create a ‘Living Lab’ to accelerate the
development, demonstration, and commercialization of new technologies and
solutions in supply chain and logistics. Together, Aurionpro and STMT Trisakti
aim to help nurture top talent for the Indonesian and global logistics markets
and are expecting the first batch of students to be certified on SCMProFit in
January 2014. STMT Trisakti offers management programs across Management in Air
Transport (MTU), Management in Land Transport (MTD), and Management in Sea
Transport (MTL) and along with Aurionpro’s participation, has conducted
successful SCMProFit training and certification initiatives earlier this year
for STMT faculty.
In
order to set the program up for success, Aurionpro will host a cloud-based
SCMProFit environment that will be accessed by various STMT Trisakti academic
departments. Lecturers will then be trained and certified by Aurionpro SCMProFit
experts, and STMT staff will prepare teaching modules and handouts that will
form the foundation for the training curriculum. Finally, Aurionpro and STMT
will work together to place students in internship opportunities at existing
SCMProFit customers in order to further their hands-on expertise in the
technology. This internship program is key as it will benefit the growing
number of SCMProFit customers as well as individuals in the new talent pool who
will be looking for career opportunities to practice their newly honed
skillsets.
Commenting
on the partnership, Andri Warman, S.Sos.,MM, Vice Chairman of STMT Trisakti
reflected, "The SCMProFit application program adds value to the STMT
Trisakti graduates’ competency richness, particularly in supporting the
fulfillment of the demands of the market in the transport industry. The
SCMProFit application program is designed to be an effective learning medium
for students to identify and comprehend the process of transporting goods from
shippers to consignees, along with the required documents. The Certification
Program for students who have attended the courses of SCMProFit application
program has served as valid proof of the close partnership between STMT
Trisakti and Aurionpro. We greatly appreciate the efforts of Aurionpro’s
management in helping to bridge the gap between universities and the transport
industry through the SCMProFit application program."
"Our
partnership with STMT Trisakti is exciting on a number of levels", added
Snehal Pandit, Vice President of Sales, Aurionpro SCM. "Working with
another thought leader in the field of supply chain management will help to
refine and advance best practices in the industry, and helping to cultivate a
highly educated and specialized workforce to support the rapidly growing field
of logistics in Indonesia and across the globe will help to make organizations
more efficient and competitive in their respective markets."
AURIONPRO
EARNS CMMI LEVEL 3 CERTIFICATION
Demonstrates process maturity
required to deliver high-quality software implementations on time and on budget
Friday, November 29, 2013
Mumbai,
India (Marketwire)
Aurionpro
Solutions, a global leader in domain-driven software and consulting services,
is proud to announce that its development centers in Pune and Mumbai, India
have again earned CMMI (Capability Maturity Model Integration) Level 3
certification after successfully completing Carnegie Mellon’s SCAMPI (Standard
CMMI Appraisal Method for Process Improvement) review.
The
certification, which encompasses Aurionpro’s delivery of software engineering
and consulting services across the Identity Management and Banking and
Financial Services domains, appraises the following Aurionpro processes at CMMI
Level 3 (“Defined”): Requirements Development, Technical Solution, Product
Integration, Verification, Validation, Organizational Process Focus,
Organizational Process Definition, Organizational Training, Integrated Project
Management, Risk Management, and Decision Analysis and Resolution.
“Aurionpro’s
cloud-based and packaged software, technology and domain expertise, and passion
for ensuring the success of every consulting implementation help to advance the
businesses of our customers and partners,” said Nirav Shah, Aurionpro’s EVP of
Global Delivery. “The CMMI Level 3 re-certification is a concrete demonstration
of our continuing ability to deliver on that commitment through the rigorous
processes we have in place for our software development work.”
AURIONPRO SOLUTIONS NAMED AMONG TOP
100 GLOBAL PROVIDERS OF FINANCIAL TECHNOLOGY
Prestigious recognition reflects
Aurionpro’s growth through innovative software and services offerings
Monday, November 11, 2013
Mumbai,
India (Marketwire)
Aurionpro
Solutions, a global provider of software and expert-level consulting services,
announced that it has again been recognized by the FinTech 100 as one of the
leading firms providing technology solutions to the Financial Services
Industry. The FinTech 100 is an annual international listing of the top
vertical technology vendors that derive more than one third of their revenue
from this industry as named by American Banker, Bank Technology News, and IDC
Financial Insights.
“This
ranking illustrates Aurionpro’s strength in providing some of the most
innovative cash management, payments, and lending solutions to the global
financial services market,” said Amit Sheth, Aurionpro’s Managing Director.
“Our continued growth is a testament to the business value that banks around
the globe have achieved through the selection of our software and services
offerings.”
Aurionpro
ranked 88th on the list of financial technology companies that were judged
according to their global revenues, signifying the company’s stability and
prominence in the industry. Aurionpro’s banking and Financial Technologies
group continues to invest aggressively in evolving the product lines in order
to expand the company’s value proposition. Cutting edge features that provide a
unified customer experience and application access through mobile devices will
help Aurionpro’s customers achieve competitive advantage and increase
operational efficiencies.
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 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.59.79 |
|
UK Pound |
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
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.