MIRA INFORM REPORT

Report Date :

30.10.2014

IDENTIFICATION DETAILS

Name :	WISDOM IT SERVICES INDIA PRIVATE LIMITED
Registered Office :	Plot No. 305, 2nd Floor, Ayyappa Society, Madhapur, Hyderabad – 500081, Telangana
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.02.2011
Com. Reg. No.:	072767
Capital Investment / Paid-up Capital :	Rs. 0.764 Million
CIN No.: [Company Identification No.]	U72300TG2011PTC072767
IEC No.:	0914009389
PAN No.: [Permanent Account No.]	AABCW0700B
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Job Consultancy and Software Design Services.
No. of Employees :	250 (Approximately) [100 in Office and 150 in Branch]

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are reported as usually correct. 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
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had willfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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 PARTED BY

Name :	Mr. Ajay Kolla
Designation :	Director
Contact No.:	91-9705292424
Date :	30.09.2014

LOCATIONS

Registered Office :	Plot No. 305, 2nd Floor, Ayyappa Society, Madhapur, Hyderabad – 500081, Telangana, India
Tel. No.:	91-40-66282424/ 66282323
Mobile No.:	91-9705292424 [Mr. Ajay Kolla]
Fax No.:	91-40-66282323
E-Mail :	ajaykolla@wisdomitservices.com info@wisdomitservices.com
Website :	http://www.wisdomitservices.com
Area :	7000 Sq. ft.
Location :	Rented
Branch Office 1 :	H. No. 1-62/172, Plot No.172, Kavuri Hills, (Phase- II), Madhapur, Hyderabad, Telangana, India
Tel. No.:	91-40-42242424
Area :	7000 Sq. ft.
Branch Office 2 :	Plot No. 97, 2^nd Floor, Beside CGR International School Ayyappa Society , Madhapur, Hyderabad – 500081, Telangana, India
Area :	3500 Sq. ft.
Location :	Rented

DIRECTORS

AS ON 28.09.2013

Name :

Mr. Srinivasa Rao Bandarupalli

Designation :

Director

Address :

Villa No. 21, Bollineni Homes, Madhapur, Hyderabad - 500081, Andhra Pradesh, India

Date of Birth/Age :

26.06.1966

Qualification :

B.E. Degree

Experience :

20 Years

Date of Appointment :

29.09.2012

DIN No.:

00652270

Profile :

Mr. Srinivasrao Bandarupalli is the director of wisdom IT services since 29th October, 2011. He completed his Bachelor of Technology (BTECH) from Karnataka University in 1985. He has good exposure as an entrepreneur in diversified sectors like IT, Granites, Cosmo Floorings etc. He is also having nearly 20 years of rich experience in logistics, importing and exporting. He is also founder and director of Goutam Sai Granites Private Limited and partner for Goutam Sai Granites and Leo Granites.

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U13209AP2006PTC050335	TAHA MINES AND MINERALS PRIVATE LIMITED	Director	25/01/2007	17/08/2006	Active	NO
2	U14102TG2010PTC069876	GOUTAM SAI GRANITES PRIVATE LIMITED	Director	06/08/2010	06/08/2010	Active	NO
3	U72300TG2011PTC072767	WISDOM IT SERVICES INDIA PRIVATE LIMITED	Director	29/09/2012	29/10/2011	Active	NO

Name :

Mr. Venkata Vinod Kumar Valipireddy

Designation :

Director

Address :

8-2-293/82/BE/14, Navanirman Nagar, Jubilee Hills, Hyderabad - 500096, Andhra Pradesh, India

Date of Birth/Age :

05.06.1976

Qualification :

B.Com, Law Graduate

Experience :

14 Years

Date of Appointment :

25.02.2014

DIN No.:

03642809

Profile :

Mr. V.V. Vinod Kumar aged 37 years is a Bachelor of Commerce and Law Graduate from Colleges affiliated to Osmania University. He has a vast experience of nearly a decade in Law Practice as he has practiced as an Advocate with Trial Courts in Hyderabad and also in the Hon'ble High Court of Andhra Pradesh. He is also been associated with various companies as independent Director which are been listed on the Bombay Stock Exchange. He is instrumental in providing legal advices and guidance to the Company in the legal aid allied matters. He joined the company as a Director on 25.02.2014

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L72200TG1994PLC017598	RAMINFO LIMITED	Director	10/09/2014	10/02/2012	-	Active	NO
2	L24230TG1993PLC016155	EXENSYS SOFTWARE SOLUTIONS LIMITED	Director	14/09/2012	02/03/2012	-	Active	NO
3	U72300TG2012PTC080695	RIDGELINE TECHNOLOGIES PRIVATE LIMITED	Director	03/05/2012	03/05/2012	31/03/2014	Active	NO
4	U72300TG2011PTC072767	WISDOM IT SERVICES INDIA PRIVATE LIMITED	Director	25/02/2014	25/02/2014	-	Active	NO
5	L15490AP1995PLC088116	DILIGENT INDUSTRIES LIMITED	Additional director	01/07/2014	01/07/2014	-	Active	NO
6	U72900HR1999PTC035346	EBUSINESSWARE (INDIA) PRIVATE LIMITED	Additional director	22/09/2014	22/09/2014	-	Active	NO

Name :

Mr. Ajay Kolla

Designation :

Director

Address :

H. No. B-24, Jntu Quarters, JNTU KPHB Kukatpally, Hyderabad – 500085, Andhra Pradesh, India

Date of Birth/Age :

01.07.1985

Qualification :

B.TECH, SAPABAP

Experience :

7 Years

Date of Appointment :

21.02.2011

PAN No.:

AXIPK0193K

DIN No.:

03388530

Profile :

Mr. Ajay Kolla, after completing his Bachelor of Technology from Nagurjana University in 2007, Ajay Kolla spent 4 years as a SAP consultant at IT Services companies such as TCS and Finland-based Tieto. While working on technical implementations there, he noticed the gaps in human capital procurement faced by these companies. He decided to address these gips by founding Wisdom Jobs and his entrepreneurial acumen and results-oriented leadership has taken the company where it is today in a very short time span. He continues to bring fresh energy day in and day out to take Wisdom Jobs to the next level. He was profiled on ET's Leaders of Tomorrow in 2013.

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Srinivasa Rao Bandarupalli	35714	46.73
Kolla Ajay	35714	46.73
Srinivasa Rao Bolla	5000	6.54
Total	76428	100.00

AS ON 28.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Job Consultancy and Software Design Services.
Terms :
Selling :	Credit [30 Days, 60 Days – 90 Days]
Purchasing :	Credit [30 Days – 60 Days]

GENERAL INFORMATION

Customers :

Others [Companies]

No. of Employees :

250 (Approximately) [100 in Office and 150 in Branch]

Bankers :

· ICICI Bank Limited

Madhapur, Hyderabad – 500081, Andhra Pradesh, India

· Oriental Bank of Commerce

Hyderabad, Andhra Pradesh, India

· Royal Bank of Scotland

Hyderabad, Andhra Pradesh, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)
Secured Loans	0.578
Total	0.578

Banking Relations :	--
Auditors :
Name :	L. Dinakar and Company Chartered Accountants
Address :	D.No.5-380, Ravi Anjaneyulu Road, Beside Tasty Hotel, Kurnool Road, Ongole – 523002, Andhra Pradesh, India
Tel. No.:	91-8592-283848
Mobile No.:	91-9959711022/ 9492718354/ 9030346701
E-Mail :	vmadhan9@gmail.com
Income-tax PAN of auditor or auditor's firm :	AKZPP9650Q

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
80,000	Equity Shares	Rs. 10/- each	Rs. 0.800 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
76,428	Equity Shares	Rs. 10/- each	Rs. 0.764 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014
SHAREHOLDERS FUNDS
1] Share Capital		0.764
2] Share Application Money		10.231
3] Reserves & Surplus		6.980
4] (Accumulated Losses)		0.000
NETWORTH		17.975
LOAN FUNDS
1] Secured Loans		0.578
2] Unsecured Loans		0.000
TOTAL BORROWING		0.578
DEFERRED TAX LIABILITIES		0.310
TOTAL		18.863
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.964
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	14.060
	Cash & Bank Balances	1.028
	Other Current Assets	1.642
	Loans & Advances	0.360
Total Current Assets		17.090
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.241
	Other Current Liabilities	0.023
	Provisions	8.946
Total Current Liabilities		10.210
Net Current Assets		6.880
MISCELLANEOUS EXPENSES		0.019
TOTAL		18.863

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Sales	124.047
		Other Income	97.194
		TOTAL	221.241
Less	EXPENSES
		Direct Expenses	162.328
		Overhead Cost	18.000
		Personnel Cost	29.715
		Audit Fee	0.100
		Bonus	0.100
		Deferred Tax	0.141
		Event Expenses	0.158
		Repairs and Maintenance	0.171
		Vehicles Expenses	0.286
		Other Expenditure	0.634
		TOTAL	211.633
	PROFIT BEFORE DEPRECIATION AND AMORTISATION)		9.608
Less/ Add	DEPRECIATION/ AMORTISATION		3.868
	NET PROFIT		5.740

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.764	0.764
(b) Reserves & Surplus	3.296	0.254
(c) Money received against share warrants	3.844	5.756
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	7.904	6.774
(3) Non-Current Liabilities
(a) long-term borrowings	4.816	2.165
(b) Deferred tax liabilities (Net)	0.169	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	4.985	2.165
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	10.692	0.707
(c) Other current liabilities	2.507	3.168
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	13.199	3.875
TOTAL	26.088	12.814
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.688	1.903
(ii) Intangible Assets	0.060	0.060
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.026	0.032
Total Non-Current Assets	1.774	1.995
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	15.105	8.588
(d) Cash and cash equivalents	0.569	0.716
(e) Short-term loans and advances	6.495	1.227
(f) Other current assets	2.145	0.288
Total Current Assets	24.314	10.819
TOTAL	26.088	12.814

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Revenue from Operations	80.160	13.126
		Other Income	1.037	0.000
		TOTAL (A)	81.197	13.126
Less	EXPENSES
		Employees benefits expense	34.156	8.330
		Other expenses	41.492	4.067
		TOTAL (B)	75.648	12.397
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.549	0.729
Less	FINANCIAL EXPENSES (D)		0.344	0.108
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.205	0.621
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.802	0.243
	PROFIT BEFORE TAX (E-F) (G)		4.403	0.378
Less	TAX (H)		1.361	0.111
	PROFIT AFTER TAX (G-H) (I)		3.042	0.267
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.254	(0.013)
	BALANCE CARRIED TO THE B/S		3.296	0.254
	Earnings Per Share (Rs.)		39.81	3.50

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	2.59	3.75	2.03
Net Profit Margin (PBT/Sales)	(%)	4.63	5.49	2.88
Return on Total Assets (PBT/Total Assets}	(%)	19.76	16.88	2.95
Return on Investment (ROI) (PBT/Networth)		0.32	0.56	0.06
Debt Equity Ratio (Total Debt/Networth)		0.03	0.61	0.32
Current Ratio (Current Asset/Current Liability)		1.67	1.84	2.79

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	13.126	80.160	124.047
		510.696	54.749

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	13.126	80.160	124.047
Profit	0.267	3.042	5.740
	2.03%	3.79%	4.63%

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	Yes
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	No
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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

------------------------------------------------------------------------------------------------------------------------------

WISDOM IT SERVICES INDIA PRIVATE LIMITED

COMPUTATION OF TOTAL INCOME

(RS. IN MILLIONS)

PARTICULARS	31.03.2013
v PROFITS AND GAINS OF BUSINESS OR PROFESSION
Net Profit before Tax as per P & L A/c		4.403
Add: Inadmissible expenses and Income not included
Depreciation debited to P & L A/c		0.796
Adjusted Profit from Business 1		5.198
Total Income from Business and Profession		5.198
Less: Depreciation as per IT Act [Schedule 1]		0.968
Income chargeable under the head “Business and Profession”			4.230
v TOTAL INCOME			4.230
Total Income rounded off u/s 288A			4.230
v TAX ON TOTAL INCOME			1.269
Add: Education cess			0.038
Tax with cess			1.307
Minimum alternative tax		0.839
Tax credit set off u/s 115JAA [Schedule 2]		0.000
Net Tax			1.307
TDS [Schedule 3]		1.706
Total prepaid taxes			1.706
v REFUND DUE			0.399

------------------------------------------------------------------------------------------------------------------------------

PERFORMANCE AND FINANCIAL INDICATORS

(RS. IN MILLIONS)

PARTICULARS	2015	2016	2017	2018
	Estimates	Projections	Projections	Projections
Domestic Sales (Gross)	300.000	400.100	450.500	500.000
Export Sales	0.000	0.000	0.000	0.000
Net Sales	300.000	400.100	450.500	500.000
% rise/fall (-) in net sales	36.30	33.37	12.66	11.26
Operating Profit	17.800	25.300	31.600	38.400
Profit Before tax	17.800	25.300	31.600	38.400
PBT/ Sales (%)	5.90	6.29	6.98	7.62
Profit After Tax	12.300	17.500	21.900	26.500
Cash Accrual	14.400	24.000	27.500	30.000
Paid Up Capital	5.000	5.000	5.000	5.000
TNW	25.700	43.200	65.000	91.500
Adjusted TNW	25.700	43.200	65.000	91.500
TOL/TNW (times)	5.76	3.15	1.97	1.50
Adjusted TOL/TNW	5.76	3.15	1.97	1.50
NWC	(27.900)	(20.300)	(3.500)	0.900
Current Ratio	0.76	0.84	0.97	1.01
OTHER RATIOS
Operating Cost/ sales %	64.08	63.99	93.02	92.38
Net Sales /TTA (times)	2.31	2.82	3.07	3.44
PBDIT	26.800	44.600	48.100	50.900
EFFICIENCY RATIOS
Net Sales/ Total Tangible Assets (times)	2.31	2.82	3.07	3.44
PBT/ Total Tangible Assets (%)	13.63	17.72	21.44	26.23
Operating Cost to sales (%)	64.08	63.99	93.02	92.38
Bank Finance/ Current Assets (%)	66.89	55.35	48.12	43.32
Inventory+ Receivables to net Sales (days)	84.74	72.62	73.32	72.42

------------------------------------------------------------------------------------------------------------------------------

ABF ASSESSMENT

(RS. IN MILLIONS)

PARTICULARS	2015	2016	2017	2018
	Estimates	Projections	Projections	Projections
Total Current Assets	89.700	108.400	124.700	138.500
Other Current Liabilities (Except Bank Borrowing)	57.600	68.700	68.200	77.600
Working Capital Gap	32.100	39.700	56.500	60.900
Net Working Capital (Act./Proj)	(27.900)	(20.300)	(3.500)	0.900
Assessed Bank Finance	60.000	60.000	60.000	60.000
NWC to TCA (%)	(31.10)	(18.73)	(2.81)	0.65
Bank Finance to TCA %	66.89	55.35	48.12	43.32
Sundry Creditors to TCA (%)	50.17	43.82	41.70	47.65
Other Current Liabilities to TCA (%)	14.05	19.56	12.99	8.38
Inventory to Net sales (days)	0.000	0.000	0.000	0.000
Receivables to gross sales (days)	84.74	72.62	73.32	72.42
Sundry Creditors to purchases (days)	181.49	145.08	136.06	149.53
NWC to TCA (%)	(31.10)	(18.73)	(2.81)	0.65
Bank Finance to TCA %	66.89	55.35	48.12	43.32
Other Current Liabilities to TCA (%)	64.21	63.38	54.69	56.03

------------------------------------------------------------------------------------------------------------------------------

INVENTORY & RECEIVABLES HOLDINNG LEVELS

(RS. IN MILLIONS)

PARTICULARS	2015	2016	2017	2018
	Estimates	Projections	Projections	Projections
Raw Material : a) Indigenous	0.000	0.000	0.000	0.000
Months	--	--	--	--
b) Imported	0.000	0.000	0.000	0.000
Months	--	--	--	--
Stock in Process	0.000	0.000	0.000	0.000
Months	0.00	0.00	0.00	0.00
Finished Goods	0.000	0.000	0.000	0.000
Months	0.00	0.00	0.00	0.00
Other Spares : a) Indigenous	0.000	0.000	0.000	0.000
Months	--	--	--	--
b) Imported	0.000	0.000	0.000	0.000
Months	--	--	--	--
Receivables : a) Domestic	70.000	80.000	91.000	100.000
Months	2.80	2.40	2.42	2.40
b) Export	0.000	0.000	0.000	0.000
Months	--	--	--	--
Receivables	70.000	80.000	91.000	100.000
Months	2.79	2.39	2.41	2.38
Sundry Creditors	45.000	47.500	52.000	66.000
Months	5.97	4.77	4.47	4.92
Other Creditors	12.600	21.200	16.200	11.600
Other Current Assets	19.700	28.400	33.700	38.500

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.		PARTICULARS	2015	2016	2017	2018
			Estimates	Projections	Projections	Projections
1		GROSS SALES
	i.	Domestic sales	300.000	400.100	450.500	500.000
	ii.	Export sales	--	--	--	--
		Add other income	1.500	2.000	2.500	4.000
		Total	301.500	402.100	453.000	504.000
2		Less Excise duty	--	--	--	--
		Deduct other items	--	--	--	--
3		Net sales ( item 1 - item 2 )	301.500	402.100	453.000	504.000
4		% age rise (+) or fall (-) in net sales compared to previous year (annualised)	36.30	33.37	12.66	11.26
5		COST OF SALES
	i)	Network and other charges	90.500	119.500	139.500	161.100
	ii)	Staff cost	53.200	66.400	83.000	103.800
	iii)	Advertising and Promotion Cost	120.000	160.000	170.000	175.000
	iv)	Depreciation	2.100	6.500	5.600	3.500
		SUB TOTAL (I TO VI)	265.800	352.400	398.100	443.400
		ADD: Opening stocks-in-Process)	0.000	0.000	0.000	0.000
		SUB-TOTAL	265.800	352.400	398.100	443.400
		Deduct : Closing stocks-in-process	0.000	0.000	0.000	0.000
		Cost of Production	265.800	352.400	398.100	443.400
		Add : Opening stock of finished goods	0.000	0.000	0.000	0.000
		SUB-TOTAL	265.800	352.400	398.100	443.400
		Deduct: Closing stock of finished goods	0.000	0.000	0.000	0.000
		SUB-TOTAL (Total cost of Sales)	265.800	352.400	398.100	443.400
6		Administrative and other expenses	11.000	11.600	12.400	13.200
7		SUB-TOTAL (5+6)	276.800	364.000	410.500	456.600
8		Operating profit before interest ( 3-7 )	24.700	38.100	42.500	47.400
9		Interest	6.900	12.800	10.900	9.000
10		Operating profit after interest (8-9)	17.800	25.300	31.600	38.400
11	(i)	Add other non-operating income
	(a)	Interest & Disc. On Adv./Loans	0.000	0.000	0.000	0.000
	(b)	Income from Investments	--	--	--	--
	(c)	Profit on sale of F.A.	--	--	--	--
	(d)	Others	--	--	--	--
		Sub-total ( income )	0.000	0.000	0.000	0.000
	(ii)	Deduct other non-operating expenses
	(a)	P&P expense including all book entries written off	--	--	--	--
	(b)	Goodwill w/o	--	--	--	--
	(c)	Loss on assets/donations/ R&D expense	--	--	--	--
	(d)	Diminution in Invest. and Doubtful Debt	--	--	--	--
		Sub-total ( expenses )	0.000	0.000	0.000	0.000
	(iii)	Net of other non-operating income/ expenses	0.000	0.000	0.000	0.000
12		Profit before tax/loss [10+11(iii)]	17.800	25.300	31.600	38.400
13		Provision for taxes	5.500	7.800	9.700	11.900
14		Prior Years Adjustment(if any)#	--	--	--	--
15		Net profit/loss for the year ( 12-13 )	12.300	17.500	21.900	26.500
16		(a) Equity dividend paid-amount	0.000	0.000	0.000	0.000
		(Already paid+ B.S. provision)
		(b) Dividend Rate	0.000	0.000	0.000	0.000
17		Retained profit ( 14-15 )	12.300	17.500	21.900	26.500
18		Retained profit/Net profit (% age)	100.00	100.00	100.00	100.00

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.		PARTICULARS	2015	2016	2017	2018
			Estimates	Projections	Projections	Projections
		CURRENT LIABILITIES
1		Short-term borrowings from banks (including bills purchased, discounted and excess borrowing placed on repayment basis)
		(i) From applicant banks	60.000	60.000	60.000	60.000
		(ii) From other banks	0.000	0.000	0.000	0.000
		(iii) Of which BP & BD	--	--	--	--
		SUB TOTAL	60.000	60.000	60.000	60.000
2		Short term borrowings from others	--	--	--	--
3		Sundry Creditors (Trade)	45.000	47.500	52.000	66.000
4		Advance payments from customers/ deposits from dealers	--	--	--	--
5		Provision for taxes	0.000	0.000	0.000	0.000
6		Dividend payable	0.000	0.000	0.000	0.000
7		Other statutory liabilities (due within one year)	0.000	0.000	0.000	0.000
8		Deposits/installments of term loans/ DPGs/ Debentures, etc. (due within one year)	--	--	--	--
9		Other current liabilities and provisions (due within 1 Year) (specify major items)	5.900	7.800	9.800	11.600
	(ii)	Installments of term loans due with	6.700	13.400	6.400	0.000
	(iii)		--	--	--	--
	(iv)		--	--	--	--
		SUB-TOTAL (B)	57.600	68.700	68.200	77.600
		TOTAL CURRENT LIABILITIES	117.600	128.700	128.200	137.600
		TERM LIABILITIES
11		Debentures (not maturing within one year)	--	--	--	--
12		Share Application Money	--	--	--	--
13		Term loans (excluding installment payable within one year)	26.600	6.400	0.000	--
14		Deferred Payment Credits (excluding installments due)	0.000	0.000	0.000	0.000
15		Deferred Tax Liabilities	(0.200)	(0.200)	(0.300)	0.100
16		Other term liabilities	4.000	1.200	0.000	0.000
17		TOTAL TERM LIABILITIES	30.400	7.400	(0.300)	0.000
18		TOTAL OUTSIDE LIABILITIES	148.000	136.100	127.900	137.600
		NET WORTH
19		Ordinary share capital	5.000	5.000	5.000	5.000
20		General reserve	8.400	20.000	38.200	60.000
21		Revaluation reserve	--	--	--	--
22		Other reserve (excluding provisions) Share Premium	--	--	--	--
23		Surplus (+) or deficit (-) in Profit & Loss Account	12.300	17.500	21.800	26.500
23a		Others (specify)
	(i)	Share Application Money	0.000	0.000	0.000	0.000
24		NET WORTH	25.700	43.200	65.000	91.500
25		TOTAL LIABILITIES	173.700	179.300	192.900	229.100
		ASSETS
26		Cash balance & Bank Balances	4.500	7.000	9.500	11.500
		Fixed Deposits with Banks	0.000	0.000	0.000	0.000
28	(i)	Receivables Less than six months other than deferred and exports (include bills purchased and discounted by Banks)	70.000	80.000	91.000	100.000
		Receivables exceeding six months	0.000	0.000	--	--
	(ii)	Export receivables (include bills purchased and discounted by banks)	--	--	--	--
29		Installments of deferred Receivables (due within one year)	--	--	--	--
30		Inventory:
	(i)	Raw materials (including stores & other items used in the process of manufacture)	0.000	0.000	0.000	0.000
		(a) Imported	--	--	--	--
		(b) Indigenous	0.000	0.000	0.000	0.000
	(ii)	Stock-In-Process	0.000	0.000	0.000	0.000
	(iii)	Finished goods	0.000	0.000	0.000	0.000
	(iv)	Other Consumable Spares	0.000	0.000	0.000	0.000
		(a) Imported	--	--	--	--
		(b) Indigenous	--	--	--	--
31		Advance to suppliers of raw materials & stores and spares	--	--	--	--
32		Advance payment of taxes	--	--	--	--
33		Other Current assets (To be received within one year)	6.000	8.000	9.000	10.000
	(a)	Loans and Advances	9.200	13.400	15.200	17.000
34		TOTAL CURRENT ASSETS	89.700	108.400	124.700	138.500
		FIXED ASSETS
35		Gross Block (Land & Building machinery, work-in-process)	--	--	--	--
36		Depreciation to date	--	--	--	--
37		Tangible Fixed Assets	40.900	34.400	22.700	7.900
		OTHER NON-CURRENT ASSETS
38		Investment/ book debts/ advances/ deposits which are not current assets	0.000	0.000	0.000	0.000
	(i)	a) Investment in subsidiary Co./affiliates	0.000	0.000	0.000	0.000
		b) Other Investments	0.000	0.000	0.000	0.000
	(ii)	Advances to suppliers of capital goods & contractors	--	--	--	--
	(iii)	Deferred receivables	0.000	0.000	0.000	0.000
	(iv)	Others (a) Debtors> 6 months	--	--	--	--
		(b) Security Deposits	0.000	0.000	0.000	0.000
		(c) Others	--	--	--	--
39		Non-consumables stores & spares	--	--	--	--
40		Other non-current assets including dues from Directors	--	--	--	--
41		TOTAL OTHER NON-CURRENT ASSETS	0.000	0.000	0.000	0.000
42		Intangible assets (patents, goodwill, prelim. expenses, bad/ doubtful expense not provided for etc.)	43.100	36.500	45.500	82.700
43		TOTAL ASSETS (34+37+41+42)	173.700	179.300	192.900	229.100

------------------------------------------------------------------------------------------------------------------------------

FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.		PARTICULARS	2015	2016	2017	2018
			Estimates	Projections	Projections	Projections
1		SOURCES
	a.	Net Profit (After Tax)	12.300	17.500	21.900	26.500
	b.	Depreciation	0.000	0.000	0.000	0.000
	c	Increase in Capital	4.200	0.000	0.000	0.000
	d.	Increase in Total Liabilities including public deposits	22.300	0.000	0.000	0.300
	e.	Decrease in
		i) Fixed Assets	0.000	0.000	0.000	0.000
		ii) Other Non-Current Assets	0.000	6.600	0.000	0.000
	f	Others	0.000	0.000	0.000	0.000
	g.	Total	38.800	24.100	21.900	26.800
2		USES
	a.	Net Loss	0.000	0.000	0.000	0.000
	b.	Decrease in Term Liabilities including Public Deposits	0.000	23.000	7.700	0.000
	c.	Increase in
		i) Fixed Assets	0.000	0.000	0.000	0.000
		ii) Other Non-current assets	43.000	0.000	9.000	37.200
	d.	Dividend Payment	0.000	0.000	0.000	0.000
	e	Others	2.900	0.000	0.100	0.000
	f	Total	45.900	23.000	16.800	37.200
3	I	Long Term Surplus/Deficit	(7.100)	1.100	5.100	(10.400)
4	ii	Increase/decrease in Current Assets	20.300	18.700	16.300	13.800
5	iii	Increase/decrease in Current Liabilities other than BB	5.200	11.100	(0.500)	9.400
6	iv	Increase/decrease in Working Capital Gap	15.100	7.600	16.800	4.400
7	v	Net Surplus (+) Deficit (-)	(22.000)	(6.500)	(11.700)	(14.800)
8	vi	Increase/decrease in Bank Borrowings	60.000	0.000	0.000	0.000

------------------------------------------------------------------------------------------------------------------------------

PROJECT REPORT

Subject was established in 21 Feb 2011 as a private limited company, which offers Recruitment Solutions and services for medium to large enterprises in India and the Middle East. Simply put, WISDOM is a Job Portal company which help for recruit employees in any company. Wisdom IT Services is a Hyderabad-based software development company

Wisdom IT Services strive to match our clients' needs and meet their expectations by delivering the best professionals to their clients and the best career opportunities to potential job seekers. They accomplish their mission with their innovative products like Pragnya Meter and E-University and to continue as a leading recruitment firm in various areas like staffing, strategic sourcing and logistics.

OVERVIEW:

· Serving end-to-end recruitment for 40+ MNC clients globally with 280+ internal team (over 100 in sales department.

· With 22 million profiles, third position in resume database number on job portals

· Getting 18,000+ new profiles every day

· 40,000+ active job seekers updating their resumes daily

· 35 Million Page views per Month

· 1st place in "Average time per user" and "Average pages per used' on lndian market job portals

OFFLINE BUSINESS

Wisdom IT services is the reputed job portal in India and other countries and gaining revenue by offering quality services and products to the job seekers and employers. They are creating new products and solutions as a platform to interact with online users. Product development activities primarily include efforts to improve the customer experience for different brands. They have created solutions in the mobile applications space for each of the Company's offerings. The Company is investing in product development, brand building to support all the brands.

Their business has always been about strong levels of cash generation through high profit margins. They have started with one portal in India (wisdomjobs.com) and spread across the global with 12 portals in US, Canada, South Africa, India, Singapore, Malaysia, New Zealand, Germany, Australia, Italy, and the UK.

Permanent Placement: This is the most dominant revenue source for their business and generates nearly 50% of total standalone revenues by positioning a person within a company. Revenue received in the form of fees for the placements made at client's organization and receives 80% of margin on selected candidate.

Temporary staffing: This is also part of their head hunting business and revenue generated through fees charged after the successful completion of a consultant every service period (Month). For every resource wisdom margin is up to 50% and the recruited consultant will work under wisdom payroll.

ONLINE BUSINESS

EMPLOYERS

Online recruitment business is the core business of wisdom IT services; wisdomjobs.com is the major revenue generator in this business vertical which is earning significant revenue from different services and solutions mentioned as below.

Job postings: Job listings made on wisdomjobs by top employers is the other source for revenue generation. Revenue generated through the subscription fees made for each job posting on wisdomjobs and associated job portals by employers.

User Licenses: They have a huge database of 30 million profiles with multiple skill sets. Wisdomjobs provides user licenses to the subscribers of data base and revenue is generated in the form of subscription fees, which is recognized pro-rata over the subscription or advertising agreement, usually ranging between one to twelve months.

JOB SEEKERS

Wisdom Jobs is the company's flagship brand and recognized for its unique products and services' Jobseeker services plays key role and wisdomjobs.com is based at India and Wisdomjobsgulf.com is based at west countries gaining huge traffic and revenue from jobseeker services. They have established their own presence by competing with strong competitors like Naukri, Monster, Times jobs and Shine.

Resume Services: Wisdomjobs offers different types of resume services like resume writing resume forward and resume highlight to the job seekers. The revenue is earned in the form of fees, and recognized on completion of the related service.

Pragnya meter: Online skill rating test designed to explore a candidates skills and present them to the prospective employers to reduce the time in recruitment process by finding the skill rated candidate. It generates revenue through subscription fees charged for each exam from the users.

E University: It is an online platform to get practiced for 6000 skillsets of IT and Non IT sectors. Revenue generated from the Google ad sense and users traffic.

ADVERTISING

Wisdomjobs looks at its marketing in four steps: brand building, encouraging users to try out the site, driving purchases, and guaranteeing repeat customers. For brand building, it uses social media (more than 300,000 likes on Facebook and 3500 followers on Twitter and Linkedln). They have also published on print and online media for their achievements like nominated for second round of Enterprise and IT Architecture Excellence Award for the year 2012 and awarded "star partner" by HCL for the years 2012 and 2013.

HR: They conduct campaign programs through social media networks, online and print media publishing about their achievements and accomplishments.

Colleges: Colleges play key role in advertising and marketing promotion of their brands and services. They conduct pragnya meter online exams and campaign about jobseeker services to attract users to get registered with them and to increase their market value.

Brands: Recruitment solutions continue to be the dominant business with 77% of total stand-alone revenues of wisdom IT services.

· Wisdomjobs is the 4th generation recruitment job portal contributing to the success of job seekers and employers with innovative products like e-university and pragnya meter.

· The unique products of wisdomjobs help recruiters in reducing their valuable time in short listing profiles with pragnya meter score and shortlist profiles with pragnya meter score among the group of talented job candidates.

· Unique search tools like PM auto search enable them to search and find resumes along with the technical ability of the candidate on specific skills and sector wise.

· E-University is an online learning hub built with 5000 skills from different sectors which makes a jobseeker to prepare well for the interview preparation and test their learning skills through pragnya meter online exam and present their technical ability to the prospective employers along with their profile.

· Wisdomjobs gulf also tapped the gulf market with the same brand image created in Indian market.

5P’s concept planning, preparation, practice, presentation and personality which reflect our uniqueness as compare to existing job boards.

CERTIFICATIONS AND AWARDS

· Leaders of Tomorrow 2013 by ET NOW

· HCL-Star Partner Award for the year 2012

· Best email campaign and high conversion award by NetcoRE -2012

· Achieved an ISO 9001:2008 certification

· In process of becoming a member of NASSCOM

· IT Architecture Excellence Awards 2013

------------------------------------------------------------------------------------------------------------------------------

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

------------------------------------------------------------------------------------------------------------------------------

TRADE REFERENCES:

· Hindustan Computers Limited

Magesh Kumar

HCL Technologies Limited

Arihant Technopolis 41293, Old Mahabalipuram Road, Kandanchavadi, Chennai – 600096, Tamilnadu, India

Tel. No.: 91-44-43957212

· Capsemini India Private Limited

Accounts Payable - Capgemini India Private Limited

c/o ACG tnformation Technologies India Private Limited

Office 209, Second Floor, SSR Corporate Park, 13/6 Delhi-Mathura Road, NH2, Sector 27B, Faridabad - 121003, Haryana, India

· Tech Mahindra Limited

Dhananjay S. Shinde (RMG)

Tech Mahindra Limited

Annex 3rd Floor, Sharda Center, Erandwana, Pune - 411004, Maharashtra, India

· ATOS India Private Limited

Vinita Shrivastav

Atos India Private Limited

Plant No.5, Godrej and Boyce Mfg. Compound, Gate No. 2, Off LBS Marg, Vikhroli (West), Mumbai – 400079, Maharashtra, India

Tel. No.: 91-22-6733 3400

· Fidelity Information Services

AB Cherain

FIS Global Business Solutions India Private Limited

The Viceroy, Old Door No.25, New Door No.22, Sardar Patel Road, Guindy, Chennai – 600032, Tamilnadu, India

Telephone No.: 91-44-39111500 Extn. 11560

· Polaris

Sunil Raj.S

Polaris Financial Technology Limited

# 244, Anna Salai, Chennai - 600006, Tamilnadu, India

Off: 044-3987 4000 Extn (5747).

Mob No: 91-8939644855

· People Interactive Private Limited

Baiju Purushotham

People Interactive (India) Private Limited

282llll, Ground Floor, Film Center Building, 68, Tardeo Road, Mumbai – 400034, Maharashtra, India

Mob: 91-9920074743

FIXED ASSETS:

· Data Processing Equipment

· Electrical Equipment

· Furniture and Fixture

· Office Equipment

------------------------------------------------------------------------------------------------------------------------------

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. 61.32
UK Pound	1	Rs. 99.00
Euro	1	Rs. 78.14

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUB
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.