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|
|
MIRA INFORM REPORT
|
Report No. : |
492588 |
|
Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SONATA INFORMATION TECHNOLOGY LIMITED |
|
|
|
|
Registered
Office : |
No. 208, T.V. Industrial Estate, S. K. Ahire Marg, Worli, Mumbai –
400030, |
|
Tel. No.: |
91-22-24943055 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
29.06.2000 |
|
|
|
|
Com. Reg. No.: |
11-127476 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 33.754 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72300MH2000PLC127476 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN : |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECS8734J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the business of providing Information Technology Solutions, software development services and re-selling products of companies such as Microsoft, IBM and Oracle etc. to (Registered Activity) |
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|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is a subsidiary of “Sonata Software Limited” and was incorporated
on 29th June 2000. It is engaged in the business of
providing Information Technology Solutions, software development services and
re-selling products of reputed companies such as Microsoft, IBM and Oracle
etc. For the financial year ended 2017, the company has achieved revenue
growth of 38.72% as compared to the previous year along with an average
profit margin of 1.94% The sound financial risk profile of the company is marked by adequate
networth base along with negligible debt balance sheet profile and fair cash
balance. Rating is constrained on account of subject’s exposure to customer and
vendor concentration risks. Payments seems to be usually correct In view of aforesaid, the company can be considered good 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term borrowing : A |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
13.07.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management non-cooperative (Tel No.: 91-22-24943055)
LOCATIONS
|
Registered Office : |
No. 208, T.V. Industrial Estate, S. K. Ahire Marg, Worli, Mumbai –
400030, Maharashtra, India |
|
Tel. No.: |
91-22-24943055 |
|
Fax No.: |
91-22-24936973 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
APS Trust Building, Bull Temple Road, N. R. Colony, Bangalore –
560019, Karnataka, India |
|
Tel No.: |
91-80-67781999 |
|
Fax No.: |
91-80-26601387 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sujit Mohanty |
|
Designation : |
Whole-time Director |
|
Address : |
Flat # E 503, Fifth Floor, Block E, Sterling Terraces, No.3, 100 Ft Ring Road, Banashankari IIIrd Stage, Bangalore – 560085, Karnataka, India |
|
Date of Birth/Age : |
22.12.1966 |
|
Qualification: |
Master Degree in Business Administration from XIMB |
|
Date of Appointment : |
29.06.2000 |
|
PAN No.: |
AAIPM7964R |
|
DIN No.: |
00001404 |
|
|
|
|
Name : |
Mr. Srikar Palem Reddy |
|
Designation : |
Director |
|
Address : |
306, Raheja Mansion, 13, Milton Street Cooke Town, Bangalore – 560005, Karnataka, India |
|
Date of Birth/Age : |
30.05.1958 |
|
Qualification: |
Degree in Engineering (Electrical) and PGDBM (IIM) |
|
Date of Appointment : |
29.06.2000 |
|
PAN No.: |
AAJPR9128H |
|
DIN No.: |
00001401 |
|
|
|
|
Name : |
Mr. Brijendra Kumar Syngal |
|
Designation : |
Director |
|
Address : |
218, Mandakini Enclave, Alaknanda, New Delhi – 110019, India |
|
Date of Birth/Age : |
14.06.1940 |
|
Date of Appointment : |
17.01.2005 |
|
DIN No.: |
00002395 |
|
|
|
|
Name : |
Ms. Radhika Govind Rajan |
|
Designation : |
Director |
|
Address : |
310, E 70th Street, APT#7M, New York , NY-10021, New York, 10021, United States of America |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
00499485 |
KEY EXECUTIVES
|
Name : |
Mr. Kundan Kumar Lal |
|
Designation : |
Company Secretary |
|
Address : |
No 1 8203, Anriya Dwellington I Main RMV II, Dollars Colony Lott, Bangalore-560094, Karnataka, India |
|
Date of Appointment : |
29.05.2017 |
|
PAN No.: |
ABDPL9472D |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
B. Ramaswamy |
|
100 |
|
P. Srikar Reddy |
|
100 |
|
Sujit Mohanty |
|
100 |
|
P V S N Raju |
|
100 |
|
Sonata Software Limited, India |
|
3374694 |
|
R. Sathyanarayana |
|
100 |
|
Mohan Muthuraj A R |
|
100 |
|
Priya Manoj Jaswani |
|
100 |
|
Total |
|
3375394 |
Equity Share Break up (Percentage of Total Equity)
AS ON 14.08.2017
|
Category |
Percentage |
|
Promoters-Individual/Hindu Undivided Family-Indian |
0.02 |
|
Promoters-Individual/Hindu Undivided Family -Body corporate |
99.98 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of providing Information Technology Solutions, software development services and re-selling products of companies such as Microsoft, IBM and Oracle etc. to (Registered Activity) |
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Products / Services
: |
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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 denied by the management |
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Bankers : |
ICICI Bank Limited, ICICI Bank Tower, Near Chakli Circle, Old
Padra Road, Vadodara-390007, Gujarat, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Sonata Software Limited, India CIN No.: L72200MH1994PLC082110 |
|
|
|
|
Fellow Subsidiary
Company : |
Sonata Software FZ LLC, United Arab Emirates |
CAPITAL STRUCTURE
AS ON 14.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000700 |
Equity Shares |
INR 10/- each |
INR 60.007
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3375394 |
Equity Shares |
INR 10/- each |
INR 33.754
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.754 |
33.754 |
33.754 |
|
(b) Reserves and Surplus |
1307.510 |
991.838 |
736.634 |
|
(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) |
1341.264 |
1025.592 |
770.388 |
|
|
|
|
|
|
(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 |
13.157 |
2.042 |
1.275 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
13.157 |
2.042 |
1.275 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
17.759 |
244.904 |
191.080 |
|
(b) Trade
payables |
3904.303 |
2096.657 |
1930.194 |
|
(c) Other current
liabilities |
427.136 |
245.504 |
194.548 |
|
(d) Short-term
provisions |
33.737 |
28.634 |
29.974 |
|
Total Current
Liabilities (4) |
4382.935 |
2615.699 |
2345.796 |
|
|
|
|
|
|
TOTAL |
5737.356 |
3643.333 |
3117.459 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
16.359 |
6.498 |
6.698 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.157 |
0.000 |
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) |
19.140 |
8.066 |
4.686 |
|
(d)
Long-term loans and advances |
256.791 |
176.916 |
316.367 |
|
(e) Other Non-current
assets |
15.004 |
7.834 |
2.613 |
|
Total Non-Current
Assets |
307.451 |
199.314 |
330.364 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
180.032 |
0.000 |
75.164 |
|
(b)
Inventories |
0.000 |
100.090 |
73.331 |
|
(c) Trade
receivables |
4075.855 |
2401.578 |
2030.159 |
|
(d) Cash and
bank balances |
809.915 |
629.039 |
300.001 |
|
(e)
Short-term loans and advances |
184.099 |
246.244 |
274.536 |
|
(f) Other
current assets |
180.004 |
67.068 |
33.904 |
|
Total Current
Assets |
5429.905 |
3444.019 |
2787.095 |
|
|
|
|
|
|
TOTAL |
5737.356 |
3643.333 |
3117.459 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
17341.481 |
12501.446 |
10928.686 |
|
|
Other Income |
69.524 |
92.245 |
36.719 |
|
|
TOTAL |
17411.005 |
12593.691 |
10965.405 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
16224.600 |
11643.790 |
10256.281 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
100.090 |
(26.759) |
(61.252) |
|
|
Employee benefit expense |
183.209 |
163.454 |
132.170 |
|
|
CSR expenditure |
8.015 |
2.606 |
0.000 |
|
|
Other expenses |
332.338 |
263.225 |
255.716 |
|
|
Exceptional items before tax |
(20.686) |
(36.804) |
(30.356) |
|
|
TOTAL |
16827.566 |
12009.512 |
10552.559 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
583.439 |
584.179 |
412.846 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
68.353 |
62.987 |
34.755 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
515.086 |
521.192 |
378.091 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.866 |
3.631 |
2.918 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
509.220 |
517.561 |
375.173 |
|
|
|
|
|
|
|
Less |
TAX |
172.810 |
178.450 |
122.123 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
336.410 |
339.111 |
253.050 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
338.343 |
167.977 |
96.960 |
|
|
TOTAL EARNINGS |
338.343 |
167.977 |
96.960 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
312.043 |
877.212 |
3133.889 |
|
|
TOTAL IMPORTS |
312.043 |
877.212 |
3133.889 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
99.67 |
100.47 |
74.97 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
12.721 |
0.000 |
NA |
|
Net cash flows from (used in) operations |
915.014 |
330.620 |
(134.184) |
|
Net cash flows from (used in) operating activities |
673.328 |
332.538 |
(99.422) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
85.79 |
70.12 |
67.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.25 |
5.21 |
5.38 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
87.83 |
65.72 |
68.69 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
5.84 |
5.63 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
35.33 |
89.90 |
61.64 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.77 |
0.72 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.02 |
0.24 |
0.25 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.27 |
2.55 |
3.04 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
8.54 |
9.27 |
11.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
1.94 |
2.71 |
2.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.86 |
9.31 |
8.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
25.08 |
33.06 |
32.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.24 |
1.32 |
1.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.24 |
1.28 |
1.16 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.23 |
0.28 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.90 |
7.26 |
5.66 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.24 |
1.32 |
1.19 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
33.754 |
33.754 |
33.754 |
|
Reserves & Surplus |
736.634 |
991.838 |
1307.510 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
770.388 |
1025.592 |
1341.264 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
191.080 |
244.904 |
17.759 |
|
Total
borrowings |
191.080 |
244.904 |
17.759 |
|
Debt/Equity
ratio |
0.248 |
0.239 |
0.013 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
10928.686 |
12501.446 |
17341.481 |
|
|
|
14.391 |
38.716 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
10928.686 |
12501.446 |
17341.481 |
|
Profit/ (Loss) |
253.050 |
339.111 |
336.410 |
|
|
2.32
% |
2.71
% |
1.94
% |
LEGAL CASES
|
LITIGATION DETAILS |
||||||
|
Bench:- Bombay |
||||||
|
Presentation
Date:- 02/11/2017 |
||||||
|
Lodging No. : |
ITXAL/1789/2014 |
Filing Date:- |
02/11/2017 |
|
|
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX –(LTU) |
Respondent:- |
SONATA INFORMATION TECHNOLOGY LIMITED |
|||
|
Petn.Adv:- |
SURESH KUMAR (I2100) |
|
|
|||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
SINGLE |
Category:- |
TAX APPEALS |
|||
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION |
|||
|
Last
Date:- |
15/02/2018 |
|
|
|||
|
Last
Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|
||||
|
Act. : |
Income Tax Act, 1961 |
Under Section: |
260A |
|||
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 |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION
Subject is a Company registered in India with its registered office at Mumbai and operationally headquartered at Bangalore. SITL is a wholly owned subsidiary of Sonata Software Limited and is primarily engaged in the business of providing Information Technology Solutions, software development services and re-selling products of reputed companies such as Microsoft, IBM and Oracle etc. to its customers in India and the Asia Pacific region.
BUSINESS PERFORMANCE
The Company has posted encouraging results for the Financial Year that ended on 31st March, 2017. The Company has reported an all-time high revenue of INR 17410.000 Million in the Financial Year with a growth of 38% due to focus on new technology areas like Cloud, Analytics, Big Data, Appliances, etc. EBIDTA, before Exceptional Items, have seen a growth of 3% and PAT is flattish due to competitive market place and additional investments in new technology offerings and sales force which will help in differentiating us from the competition and help growth in the future. The focus in this business has always been to manage Return on Capital Employed, which was 31% for the Financial Year.
The Company’s
business has two broad lines:
A. PRODUCTS
During the year, the Company has focused on digital transformation for customers in the area of technology infrastructure services and worked on new age technologies like Cloud, Social & Analytics. The Company has been awarded the best partner for the year from companies like Microsoft, Oracle and SAP. Our focus on the Security SI business has started giving results and we have been awarded as the best partners for the year from security players like Symantec and Force Point. Also, our focus on security appliances like Palo Alto and Check Point have seen good potential in the enterprise customer space. The Company has continued focus on the cloud and have been appointed as a Cloud Service Provider by Microsoft for India, Singapore and Dubai markets.
B. SERVICES
During the year, the Company has grown its engagement across all its existing clients as well as acquired new ones. Sonata has brought in a deep focus in its key verticals of Travel, Retail, Consumer Products and ISV. Sonata as a group continue to lead with the innovative solutions and platforms like Brick & Click, ASCS, Halosys etc. as its go-to-market strategy. As a result, the Company have also been able to build a deeper relationship with its existing clients as well as our principals. The Company have conducted an event specifically for the long standing customers which was very well received. The Management plans to make this an annual affair.
OUTLOOK IN BUSINESS
The Company will continue to focus on bringing in high value products to Indian market and will continue to look for potential tie ups with leading OEMs from different countries. The Company will be working on large digital transformation projects with customers which will help the organization to gain more stickiness with the customers.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
0.000 |
19.500 |
|
Rupee term loans from others |
17.759 |
0.000 |
|
Total |
17.759 |
19.500 |
INDEX OF CHARGE:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C70594353 |
10603484 |
INDUSIND BANK LIMITED |
26/05/2015 |
- |
- |
405000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMH411001IN |
|
2 |
C52503596 |
10567204 |
Standard Chartered Bank |
10/04/2015 |
- |
- |
430000000.0 |
NO.112, SERENITY, KORAMANGALA INDUSTRIAL AREA5TH BLOCK, KORAMANGALABANGALOREKA560095IN |
|
3 |
G71979967 |
10554489 |
HDFC BANK LIMITED |
18/12/2014 |
24/05/2017 |
- |
1300000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
4 |
C49571268 |
10538561 |
YES BANK LIMITED |
06/11/2014 |
12/03/2015 |
- |
500000000.0 |
Prestige ObeliskKasturba RoadBangaloreKA560001IN |
|
5 |
G42670364 |
10521792 |
ICICI BANK LIMITED |
28/08/2014 |
12/04/2017 |
- |
1100000000.0 |
ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN |
|
6 |
G31137938 |
80052004 |
Standard Chartered Bank |
25/11/2005 |
08/12/2016 |
- |
1500000000.0 |
112, Ground Floor, Serenity Building, 5th Block,Koramangala Industrial Area, KoramangalaBangaloreKA560095IN |
|
7 |
C56791403 |
90145529 |
Axis Bank Limited |
26/11/2004 |
21/08/2014 |
23/06/2015 |
1130000000.0 |
Corporate Banking Branch,Express Building2nd Floor, No.1 Queen's RoadBangaloreKA560001IN |
|
8 |
C04573325 |
10450505 |
Standard Chartered Bank |
26/09/2013 |
- |
27/05/2014 |
2900000000.0 |
NO.112, SERENITY, KORAMANGALA INDUSTRIAL AREA5TH BLOCK, KORAMANGALABANGALOREKA560095IN |
|
9 |
C03963550 |
10381239 |
ING VYSYA BANK LIMITED |
26/09/2012 |
- |
30/04/2014 |
2550000000.0 |
22,GROUND FLOOR,ING VYSYA HOUSE,M.G.ROAD,BANGALOREKA560001IN |
|
10 |
C03962545 |
10222449 |
ING VYSYA BANK LIMITED |
16/04/2010 |
28/06/2013 |
30/04/2014 |
600000000.0 |
22,GROUND FLOOR,ING VYSYA HOUSE,M.G.ROAD,BANGALOREKA560001IN |
FIXED ASSETS:
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Leasehold improvements
- Office equipment
Intangible assets
- Computer software
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 records 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
|
INR |
|
US Dollar |
1 |
INR 63.91 |
|
UK Pound |
1 |
INR 80.17 |
|
Euro |
1 |
INR 90.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·