MIRA INFORM REPORT
|
Report No. : |
314187 |
|
Report Date : |
25.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
OUTSOURCEPARTNERS INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Tower 2D, Vrindavan Tech Village, Devarabeesanahalli, Outer Ring Road,
Bangalore – 560037, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.02.2003 |
|
|
|
|
Com. Reg. No.: |
08-031647 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74110KA2003PTC031647 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO5734C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in providing data entry and remote processing back office outsourcing services. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track. Financial position of the company is sound. Fundamentals of the
company are strong and healthy. Trade relations are reported as fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
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
31-03-2014.
INFORMATION DENIED BY
MANAGEMENT NON CO-OPERATIVE
CONTACT NO.: 91-80-43447777
LOCATIONS
|
Registered Office / Operating Office 1: |
Tower 2D, Vrindavan Tech Village, Devarabeesanahalli, Outer Ring Road,
Bangalore – 560037, Karnataka, India |
|
Tel. No.: |
91-80-43447777 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Operating Office 2 / Branch: |
Located at:
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Vikas Bhalla |
|
Designation : |
Director |
|
Address : |
House no.172, Sector 15A, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
09.08.1971 |
|
Date of Appointment : |
31.05.2011 |
|
DIN No.: |
00552253 |
|
|
|
|
Name : |
Pavan Bagai |
|
Designation : |
Director |
|
Address : |
21, Sukhdev Vihar, New Delhi – 110025, India |
|
Date of Birth/Age : |
26.09.1961 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
00558512 |
|
|
|
|
Name : |
Vishal Chhibbar |
|
Designation : |
Director |
|
Address : |
Apartment D-1102, The Palm Springs, Golf Course Road, Opposite Hotel,
IBIS, Sector – 54, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
12.02.1968 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
02722188 |
KEY EXECUTIVES
|
Name : |
Ms. Shruti Jain |
|
Designation : |
Chief Communications and Sustainability Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
OPI Limited, Mauritius |
|
5000 |
|
Outsource Partners International Inc., USA |
|
1000 |
|
Business Process Outsourcing (India) Private Limited, India |
|
4000 |
|
|
|
|
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
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 |
60.00 |
|
Bodies corporate |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in providing data entry and remote processing back office outsourcing services. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and Associates LLP Chartered Accountants |
|
Address : |
1st Floor, Tower A, Building No.8, DLF Cyber City Phase II, Sector 25 Gurgaon - 122002, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9181P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Ultimate Holding
Company : |
EXL Service Holdings Inc |
|
|
|
|
Fellow Subsidiary
Companies: |
[U74140KA2001PTC042204]
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
1562.919 |
1227.897 |
912.196 |
|
(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) |
1563.019 |
1227.997 |
912.296 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
55.269 |
113.739 |
187.178 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
37.502 |
63.287 |
66.804 |
|
(d) long-term provisions |
0.000 |
83.603 |
80.390 |
|
Total
Non-current Liabilities (3) |
92.771 |
260.629 |
334.372 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
175.291 |
102.315 |
122.746 |
|
(c) Other current liabilities |
209.061 |
127.214 |
123.593 |
|
(d) Short-term provisions |
164.605 |
133.652 |
128.542 |
|
Total
Current Liabilities (4) |
548.957 |
363.181 |
374.881 |
|
|
|
|
|
|
TOTAL |
2204.747 |
1851.807 |
1621.549 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
318.523 |
313.522 |
343.125 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
24.604 |
23.723 |
7.765 |
|
(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) |
46.427 |
52.031 |
56.133 |
|
(d) Long-term Loan and Advances |
282.985 |
265.196 |
272.235 |
|
(e) Other Non-current assets |
0.175 |
0.202 |
0.339 |
|
Total
Non-Current Assets |
672.714 |
654.674 |
679.597 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
324.876 |
120.018 |
87.353 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
644.562 |
705.878 |
414.455 |
|
(d) Cash and cash equivalents |
440.582 |
289.949 |
349.983 |
|
(e) Short-term loans and
advances |
74.709 |
55.642 |
41.374 |
|
(f) Other current assets |
47.304 |
25.646 |
48.787 |
|
Total
Current Assets |
1532.033 |
1197.133 |
941.952 |
|
|
|
|
|
|
TOTAL |
2204.747 |
1851.807 |
1621.549 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3032.927 |
2990.950 |
2692.479 |
|
|
Other Income |
|
|
|
|
|
TOTAL |
3032.927 |
2990.950 |
2692.479 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
2621.232 |
2609.836 |
2337.015 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
411.695 |
381.114 |
355.464 |
|
|
|
|
|
|
|
Less |
TAX |
76.673 |
65.413 |
-31.275 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
335.022 |
315.701 |
386.739 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
335.022 |
315.701 |
386.739 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2506.092 |
2510.002 |
2337.069 |
|
|
TOTAL EARNINGS |
2506.092 |
2510.002 |
2337.069 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
33502.20 |
31570.10 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.29 |
21.46 |
22.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.31 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.09 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79 |
3.30 |
2.51 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
912.196 |
1227.897 |
1562.919 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
912.296 |
1227.997 |
1563.019 |
|
|
|
|
|
|
long-term borrowings |
187.178 |
113.739 |
55.269 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
187.178 |
113.739 |
55.269 |
|
Debt/Equity ratio |
0.205 |
0.093 |
0.035 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2692.479 |
2990.950 |
3032.927 |
|
|
|
11.085 |
1.403 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2692.479 |
2990.950 |
3032.927 |
|
Profit |
386.739 |
315.701 |
335.022 |
|
|
14.36% |
10.56% |
11.05% |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
REVIEW OF OPERATIONS
Business Process Outsourcing, Inc., the holding company of the Company was converted into a Limited Liability Company (LLC) and now known as Business Process Outsourcing, LLC pursuant to an organizational restructuring involving multiple entities. The combination of OPI group's end-to-end F&A outsourcing expertise with EXL's outsourcing and transformation capabilities creates a world-class offering. The Company provides data entry and remote processing back office outsourcing services in F&A segment to its renowned customers. The Company operates through three locations in India i.e. Bengaluru, Kochi and Delhi NCR.
This is the eleventh year of the Company’s operations. During the year, the Company’s revenue (including other income) increased to INR 3032.927 Million from INR 2990.950 Million in the previous year. Further, the Company posted a net profit before tax of INR 411.695 Million as compared to the net profit before tax for the previous year of INR 381.114 Million. The basic and diluted earnings per share (EPS) stood at INR 33,502 as against previous year’s EPS of INR 31,570.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10176144 |
11/09/2009 |
10,000,000.00 |
AXIS BANK LIMITED |
CREDIT MANAGEMENT CENTRE, NO. 41, 1ST FLOOR,, SHE |
A69803674 |
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment
- Leasehold improvements
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
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.62.20 |
|
|
1 |
Rs.92.93 |
|
Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
|
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.