MIRA INFORM REPORT
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Report No. : |
306945 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
QUICK HEAL TECHNOLOGIES PRIVATE LIMITED (w.e.f. 07.08.2007) |
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Formerly Known
As : |
CAT COMPUTER SERVICES PRIVATE LIMITED |
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Registered
Office : |
603, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.08.1995 |
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Com. Reg. No.: |
11-091408 |
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Capital
Investment / Paid-up Capital : |
Rs.610.697
Millions |
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CIN No.: [Company Identification
No.] |
U72200MH1995PTC091408 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCC4207H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of IT Security Solutions. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. Financial position of the company seems to be sound. Performance
capability of the company is good. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
Not Available
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. Deepak Kalera |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-20-66835900 |
|
Date : |
06.02.2015 |
LOCATIONS
|
Registered/ Head Office : |
603, Mayfair Towers II, Wakdewadi Shivajinagar, Pune – 411005, |
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Tel. No.: |
91-20-41060400 / 66025985 / 66835900 |
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Fax No.: |
91-20-41060401 / 66835901 |
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E-Mail : |
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Website : |
http://www.quickheal.com |
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Branch Office : |
Office No.9, Mhada Complex, S.N.120, Near RTO Phule Nagar, Terwada,
Pune – 411006, Maharashtra, India |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Kailash Sahebrao Katkar |
|
Designation : |
Managing Director |
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Address : |
B-101, Omkar, Puru HSG Society, |
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Date of Birth/Age : |
01.11.1966 |
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Date of Appointment : |
17.08.1995 |
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PAN No.: |
AGFPK4175P |
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DIN No.: |
00397191 |
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Name : |
Mr. Sanjay Sahebrao Katkar |
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Designation : |
Managing Director |
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Address : |
SA 11, Siddeshwar Nagar, |
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Date of Birth/Age : |
29.11.1970 |
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Qualification : |
Master of Computer Science |
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Date of Appointment : |
17.08.1995 |
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PAN No.: |
AEHPK3424K |
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DIN No.: |
00397277 |
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Name : |
Mr. Mehul Mulchand Savla |
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Designation : |
Director |
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Address : |
1002, Salvation Apartments, Kale Marg, Dadar (West), Mumbai – 400028, |
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Date of Birth/Age : |
04.04.1974 |
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Qualification : |
MBA from |
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Date of Appointment : |
13.06.2011 |
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DIN No.: |
02137699 |
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Name : |
Mr. Abhijit Shantaram Jorvekar |
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Designation : |
Additional Director |
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Address : |
18/275, Lokmanya Nagar, Sadashiv Peth, Pune – 411030, |
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Date of Birth/Age : |
17.11.1973 |
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Date of Appointment : |
22.03.2012 |
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PAN No.: |
AFDPJ5746A |
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DIN No.: |
05199551 |
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Name : |
Mr. Shailesh Lakhani |
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Designation : |
Nominee Director |
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Address : |
5685, Brightpool CR, Mississauga, Ontario, L5M3W4, Canada |
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Date of Birth/Age : |
16.09.1978 |
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Date of Appointment : |
29.04.2014 |
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DIN No.: |
03567739 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Babulal Shirode |
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Designation : |
Secretary |
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Address : |
S.No. 20/1 A 17 Parth Enclave, Canal Road, Karvenagar, Pune - 411058, Maharashtra, India |
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Date of Birth/Age : |
25.05.1980 |
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Date of Appointment : |
23.09.2013 |
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PAN No.: |
BAYPS7514J |
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|
Name : |
Mr. Deepak Kalera |
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Designation : |
Finance Controller |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Kailash Katkar Jointly with Anupama Katkar |
22351384 |
36.60 |
|
Sanjay Katkar and Chhaya Katkar |
22351384 |
36.60 |
|
Anupama Katkar Jointly with Kailash Katkar |
5003976 |
8.19 |
|
Chhaya Katkar Jointly with Sanjay Katkar |
5003976 |
8.19 |
|
Ripplewave Equity Private Limited, |
104000 |
0.17 |
|
Sequoia Capital |
3752984 |
6.15 |
|
Sequoia Capital |
2501984 |
4.10 |
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|
|
|
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Total |
61069688 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Venture Capital |
6.14 |
|
Foreign holdings [Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others] |
4.10 |
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Directors or relatives of Directors |
89.59 |
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Other top fifty shareholders |
0.17 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of IT Security Solutions. |
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Products : |
IT Security Solutions |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Accessories of Air Conditioner |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
End Users, OEMs, Manufacturer |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
HDFC Bank Limited, Pune, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. V. Ghatalia and Associates Chartered Accountants |
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Address : |
C-401, 4th Floor, |
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Tel. No.: |
91-20-66016000 |
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Fax No.: |
91-20-66015090 |
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PAN No: |
AACFS6921Q |
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Membership : |
-- |
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Wholly owned
subsidiaries : |
· Quick Heal Technologies America Inc · Quick Heal Technologies Japan KK · Quick Heal Technologies Africa Limited · Quick Heal Technologies MENA FZE |
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Enterprises owned by directors or major
shareholders : |
· Ripplewave Equity Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61069688 |
Equity Shares |
Rs.10/- each |
Rs.610.697 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
610.697 |
76.337 |
76.337 |
|
(b) Reserves & Surplus |
2750.749 |
2780.141 |
2027.100 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
3361.446 |
2856.478 |
2103.437 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
5.155 |
0.537 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
3.555 |
|
Total Non-current
Liabilities (3) |
0.000 |
5.155 |
4.092 |
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(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
286.249 |
211.351 |
142.731 |
|
(c) Other
current liabilities |
52.622 |
36.524 |
25.452 |
|
(d) Short-term
provisions |
129.830 |
35.483 |
20.136 |
|
Total Current
Liabilities (4) |
468.701 |
283.358 |
188.319 |
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|
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TOTAL |
3830.147 |
3144.991 |
2295.848 |
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II.
ASSETS |
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|
(1)
Non-current assets |
|
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(a) Fixed
Assets |
|
|
|
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(i)
Tangible assets |
631.927 |
314.020 |
179.613 |
|
(ii)
Intangible Assets |
185.082 |
69.903 |
8.974 |
|
(iii)
Capital work-in-progress |
554.130 |
289.735 |
24.746 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
40.471 |
8.544 |
0.013 |
|
(c) Deferred tax assets (net) |
39.273 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
157.784 |
106.220 |
217.964 |
|
(e) Other
Non-current assets |
0.399 |
1.214 |
0.427 |
|
Total Non-Current
Assets |
1609.066 |
789.636 |
431.737 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1313.762 |
1393.773 |
1001.341 |
|
(b)
Inventories |
54.159 |
21.401 |
6.083 |
|
(c) Trade
receivables |
702.703 |
772.930 |
656.823 |
|
(d) Cash
and cash equivalents |
81.722 |
100.257 |
75.480 |
|
(e)
Short-term loans and advances |
67.104 |
66.046 |
122.807 |
|
(f) Other
current assets |
1.631 |
0.948 |
1.577 |
|
Total
Current Assets |
2221.081 |
2355.355 |
1864.111 |
|
|
|
|
|
|
TOTAL |
3830.147 |
3144.991 |
2295.848 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2439.042 |
2048.848 |
1789.769 |
|
|
|
Other Income |
98.462 |
97.501 |
56.788 |
|
|
|
TOTAL |
2537.504 |
2146.349 |
1846.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1364.203 |
990.863 |
832.904 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1173.301 |
1155.487 |
1013.653 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
108.023 |
44.387 |
21.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1065.278 |
1111.100 |
992.340 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
449.746 |
335.731 |
310.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
615.532 |
775.369 |
681.937 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
67.321 |
43.199 |
30.808 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Internet Security Devices |
0.000 |
3.644 |
6.083 |
|
|
|
Purchase of Software |
84.190 |
54.783 |
1.582 |
|
|
TOTAL IMPORTS |
84.190 |
58.427 |
7.665 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.08 |
101.57 |
89.33 |
|
Expected Sales (2014-2015): Rs.3000.000 Millions
The above information has been parted by Mr. Deepak Kalera (Finance
Controller)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
25.24 |
37.84 |
38.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.33 |
39.03 |
43.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.39 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.74 |
8.31 |
9.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
76.337 |
76.337 |
610.697 |
|
Reserves & Surplus |
2027.100 |
2780.141 |
2750.749 |
|
Net
worth |
2103.437 |
2856.478 |
3361.446 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
1789.769 |
2048.848 |
2439.042 |
|
|
|
14.476 |
19.045 |
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
|
1789.769 |
2048.848 |
2439.042 |
|
Profit |
681.937 |
775.369 |
615.532 |
|
|
38.10% |
37.84% |
25.24% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NO CHARGES EXIST FOR COMPANY.
NOTE:
The registered office of the company has been shifted from
9, Raghunath Apartment, Mohanwadi Alandi Road, Yerwada, Pune – 411006,
Maharashtra, India to present address w.e.f. 31.10.2006.
FIXED ASSETS:
·
Building
·
Computer
·
Electrical Installations
·
Furniture and Fixture
·
Office Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
67 |
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.