MIRA INFORM REPORT
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Report No. : |
331294 |
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Report Date : |
13.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
BROADRIDGE FINANCIAL SOLUTIONS (INDAI) PRIVATE LIMITED (w.e.f
13.04.2007) |
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Formerly Known
As : |
BSG SERVICE INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot No. 59, Jupiter Colony, Sikh Village, Hyderabad - 500009,
Telangana |
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Tel. No.: |
91-40-66278000 |
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Country : |
India |
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Financials (as
on) : |
30.06.2014 |
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Date of
Incorporation : |
17.01.2007 |
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Com. Reg. No.: |
01-052368 |
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Capital
Investment / Paid-up Capital : |
Rs. 494.842 Million |
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CIN No.: [Company Identification
No.] |
U74999TG2007PTC052368 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
HYDB03188D |
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PAN No.: [Permanent Account No.] |
AADCB0321R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in export of IT services and IT enabled services |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4700000 |
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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. Rating takes into consideration, company’s healthy financial profile
marked by healthy liquidity position supported by strong net worth base along
with good profitability. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. Subject can be consideration 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2013.
INFORMATION DECLINED
Management Non-corporative 91-40-66278000
LOCATIONS
|
Registered Office : |
Plot No. 59, Jupiter Colony, Sikh Village, Hyderabad - 500009,
Telangana |
|
Tel. No.: |
91-40-66278000 |
|
Fax No.: |
91-40-66028444 |
|
E-Mail : |
Saranya.balaji@broadridge.com |
DIRECTORS
As on 29.12.2014
|
Name : |
Mr. Laxmikanth Venkatraman |
|
Designation : |
Director |
|
Address : |
Pt.No.23 Jupiter Colony, Sikh Road, Secunderabad - 500003, Telangana, India |
|
Date of Birth/Age : |
08.05.1959 |
|
Date of Appointment : |
19.01.2007 |
|
DIN No.: |
00419965 |
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|
|
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Name : |
Mr. Adam David Amsterdam |
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Designation : |
Director |
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Address : |
21 Pollard Road, Mountain Lakes, New Jersey, 07046, United States of America |
|
Date of Birth/Age : |
17.11.1960 |
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Date of Appointment : |
19.01.2007 |
|
DIN No.: |
01222530 |
|
|
|
|
Name : |
Mr. Steven Jay Rosenthal |
|
Designation : |
Director |
|
Address : |
74, Hayrick LN, Commack, New York, 11725, United States of America |
|
Date of Birth/Age : |
14.08.1969 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
06412897 |
KEY EXECUTIVES
|
Name : |
Mr. Saranya Balaji |
|
Designation : |
Secretary |
|
Address : |
10-225, Vasantha puri colony, Malkajgiri, Hyderabad - 500047, Telangana, India |
|
Date of Birth/Age : |
18.03.1990 |
|
Date of Appointment : |
24/02/2012 |
|
PAN No.: |
BEKPB8043R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Broadridge Netherlands II B.V, Netherland |
|
49484160 |
|
Broadridge Netherlands I B.V, Netherland |
|
10 |
|
|
|
|
|
Total |
|
49484170 |
Equity Share Break up (Percentage of Total Equity)
As on 29.12.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20331294%2013-Jul-2015_files/image016.gif)
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in export of IT services and IT enabled services |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Deloitte Center Anchorage II NO. 100/2, Richmond Road, Bangalore -
560025, Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
company: |
Broadridge Financial Solutions Inc, UNITED STATES |
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Holding company |
Broadridge Netherlands B.V II, NETHERLANDS |
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Fellow Subsidiary
company: |
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CAPITAL STRUCTURE
As on 29.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60500000 |
Equity Shares |
Rs.10/- each |
Rs. 605.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49484170 |
Equity Shares |
Rs.10/- each |
Rs. 494.842
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
494.842 |
494.842 |
494.842 |
|
(b) Reserves & Surplus |
1152.015 |
909.494 |
556.039 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1646.857 |
1404.336 |
1050.881 |
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
40.291 |
29.019 |
17.747 |
|
(d) long-term
provisions |
243.040 |
211.464 |
159.583 |
|
Total Non-current
Liabilities (3) |
283.331 |
240.483 |
177.330 |
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
304.072 |
216.920 |
169.678 |
|
(c) Other
current liabilities |
72.150 |
64.422 |
25.526 |
|
(d) Short-term
provisions |
128.655 |
150.667 |
92.546 |
|
Total Current
Liabilities (4) |
504.876 |
432.009 |
287.750 |
|
|
|
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TOTAL |
2435.064 |
2076.828 |
1515.961 |
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II.
ASSETS |
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|
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(1)
Non-current assets |
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(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
511.010 |
533.447 |
94.830 |
|
(ii)
Intangible Assets |
40.945 |
23.850 |
31.816 |
|
(iii)
Capital work-in-progress |
0.000 |
13.834 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
158.352 |
142.075 |
134.376 |
|
(d) Long-term Loan and Advances |
338.512 |
250.664 |
353.391 |
|
(e) Other
Non-current assets |
28.688 |
17.941 |
2.871 |
|
Total Non-Current
Assets |
1077.507 |
981.811 |
617.284 |
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
340.088 |
455.190 |
213.739 |
|
(d) Cash
and cash equivalents |
972.581 |
586.104 |
581.085 |
|
(e)
Short-term loans and advances |
36.497 |
46.192 |
93.843 |
|
(f) Other
current assets |
8.391 |
7.531 |
10.010 |
|
Total
Current Assets |
1357.557 |
1095.017 |
898.677 |
|
|
|
|
|
|
TOTAL |
2435.064 |
2076.828 |
1515.961 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
TOTAL
INCOME |
|
|
|
|
|
Income |
|
|
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|
|
Other Income |
|
|
|
|
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TOTAL
|
2762.078 |
2498.679 |
1948.397 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
2192.413 |
1827.767 |
1420.772 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
569.665 |
670.912 |
527.625 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
189.422 |
135.156 |
150.266 |
|
|
|
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|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
380.243 |
535.756 |
377.359 |
|
|
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|
|
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Less |
TAX |
137.723 |
182.301 |
81.107 |
|
|
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|
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|
|
PROFIT/ (LOSS)
AFTER TAX |
242.520 |
353.455 |
296.252 |
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
909.494 |
556.039 |
259.787 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
1152.014 |
909.494 |
556.039 |
|
|
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EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2651.891 |
2423.454 |
1300.090 |
|
|
TOTAL
EARNINGS |
2651.891 |
2423.454 |
1300.090 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
4.90 |
7.14 |
5.99 |
%20PRIVATE%20LIMITED%20-%20331294%2013-Jul-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20331294%2013-Jul-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20331294%2013-Jul-2015_files/image005.gif){kind=small}
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
0.000 |
0.000 |
0.000 |
|
Net cash flow from operating activity |
559.399 |
347.171 |
284.546 |
KEY
RATIOS
|
PARTICULARS |
|
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.78 |
14.15 |
15.20 |
|
559.399 |
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.70 |
27.89 |
27.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.38 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.69 |
2.53 |
3.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
494.842 |
494.842 |
494.842 |
|
Reserves & Surplus |
556.039 |
909.494 |
1152.015 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1050.881 |
1404.336 |
1646.857 |
|
|
|
|
|
|
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 |
%20PRIVATE%20LIMITED%20-%20331294%2013-Jul-2015_files/image018.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1948.397 |
2498.679 |
2762.078 |
|
|
|
28.243 |
10.542 |
%20PRIVATE%20LIMITED%20-%20331294%2013-Jul-2015_files/image020.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1948.397 |
2498.679 |
2762.078 |
|
Profit |
296.252 |
353.455 |
242.520 |
|
|
15.20% |
14.15% |
8.78% |
%20PRIVATE%20LIMITED%20-%20331294%2013-Jul-2015_files/image022.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS
The Company recorded total revenue from operations of Rs. 26,51.891 Million The Company remains optimist about the long term opportunities while simultaneously meeting the short term challenges. The Company has a strong and robust management team and a talented human resource pool capable of meeting new challenges. The Company is adequately positioned to achieve new heights and improved performance in the coming years.
NOTE: Registered office of the company has been shifted from 6-3-348, MID Town Mall, Dwarakapuri Colony, Punjagutta, Hyderabad - 500082, Telangana, India to the present address w.e.f. 15.09.2012
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
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 records 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 rgistered
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.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
MAN |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.