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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

485010

Report Date :

09.01.2018

 

IDENTIFICATION DETAILS

 

Name :

EDGEVERVE SYSTEMS LIMITED

 

 

Registered Office :

Plot No. 44, Electronic City, Hosur Main Road, Bangalore -560100, Karnataka

Tel. No.:

91-80-39522222

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

14.02.2014

 

 

Com. Reg. No.:

08-073660

 

 

Capital Investment / Paid-up Capital :

INR 13118.400 Million

 

 

CIN No.:

[Company Identification No.]

U72200KA2014PLC073660

 

 

IEC No.:

Not Divulged

 

 

GSTIN:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCE6300K

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged into Computer Programming, Consultancy and related activities (Registered Activity)

 

 

No. of Employees :

Information denied by the management

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “Infosys Limited” and was incorporated in the year 2014.

For the financial year 2016, the company has achieved massive growth in its revenue but has incurred operational loss.


The moderate financial risk profile of the company is marked by negative reserve base.


Rating takes into consideration the subject’s debt free balance sheet profile and equity infused by its promoters.


Rating also takes into account the strong financial and managerial support that company receives from its holding entity backed by its well experienced management team.


Payments are reported to be slow but correct.


In view of aforesaid, the company can be considered for business dealings with some caution.


Note: As per Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. 

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 31-03-2016.

 

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 09.01.2018

 

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 BY

 

Name :

Mr. Vinay

Designation :

Not Divulged

Contact No.:

91-80-41032050

Date :

08.01.2018

 

 

LOCATIONS

 

Registered Office :

Plot No. 44, Electronic City, Hosur Main Road, Bangalore -560100, Karnataka, India  

Tel. No.:

91-80-39522222/28520261

Fax No.:

91-80-28521300

E-Mail :

secretarial@edgeverve.com

Website :

www.edgeverve.com

 

 

Overseas Regional Office :

Located At:

  • United States 
  • Australia 
  • United Kingdom
  • Dubai 
  • Ireland 

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Prahlad Nagarajachar Doddaballapur

Designation :

Director

Address :

1, Setlur Street, Langford Town, Bangalore- 560025, Karnataka, India

Date of Appointment :

24.06.2017

DIN No. :

00504146

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

L85110KA1981PLC013115

INFOSYS LIMITED

31/03/2017

-

U72200KA1998PTC023808

SURYA SOFTWARE SYSTEMS PRIVATE LIMITED

30/11/2016

-

U72200KA2002PLC030310

INFOSYS BPM LIMITED

24/06/2017

-

U72200KA2014PLC073660

EDGEVERVE SYSTEMS LIMITED

24/06/2017

-

U72200KA2016PTC085061

SOLCEN TECHNOLOGIES PRIVATE LIMITED

01/01/2016

-

 

 

Name :

Sanat Rao

Designation :

Director

Address :

No. 75, Westmount Close, The Hampton's Worcester Park, Surrey Kt48fl Gb

Date of Appointment :

16.11.2016

DIN No. :

07657698

 

 

Name :

Mr. Srinivasan Rajam

Designation :

Director

Address :

No.16, 16th 'C' Main, 4th Block, Koramangala, Bangalore - 560034, Karnataka, India

Date of Birth/Age :

07.07.1960

Date of Appointment :

10.07.2014

DIN No. :

01050837

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

U72900KA2001PTC028392

ITTIAM SYSTEMS PRIVATE LIMITED

03/01/2001

-

 

 

Name :

Mr. Deepak Raghunath Padaki

Designation :

Director

Address :

A2 Charter House No. 36, Lavelle Road, Bangalore -560001, Karnataka, India

Date of Appointment :

10.07.2017

DIN No. :

07873499

 

 

Name :

Inderpreet Sawhney

Designation :

Director

Address :

79/13 Sunny Brooks Sarjapur Road Near Wipro Doddakannelli, Bangalore-560035, Karnataka, India

Date of Appointment :

01.09.2017

DIN No. :

07925783

 

 

Name :

Mr. Nitesh Banga

Designation :

Additional Director

Address :

B-1/A- 65 C, Janakpuri, New Delhi- 110058, India

Date of Appointment :

01.12.2017

DIN No. :

08008492

 

 

KEY EXECUTIVES

 

Name :

Mr. Prem Joseph Pereira

Designation :

Chief Finance Officer

Address :

1052 Prestige Nottinghill Bannerghatta Main Road, Bangalore -560076, Karnataka, India

Date of Appointment :

08.10.2014

PAN No.:

AHFPP2797K

 

 

Name :

Mr. Sudhir Shridhar Gaonkar

Designation :

Company Secretary

Address :

No. 27, 1st Main, Radhakrishnan Nagar, Dharwad, K. V. V. Dharwad, Dharwad- 580003, Karnataka, India

Date of Appointment :

12.01.2015

PAN No.:

AQGPG9740B

 

 

Name :

Mr. Mahavir

Designation :

Office Executive

 

MAJOR SHAREHOLDERS

 

As on 24.06.2017

 

Names of Shareholders

No. of Shares

Infosys Limited

1311839994

Gopi Krishnan P Radhakrishnan

1

Manikantha Anur Gurugopala Raju

1

Rekha Surendranath Kamath

1

Sowmya Amarnath Rao

1

Bindu Raghavan

1

Sudhir Shridhar Gaonkar

1

Total

1311840000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 24.06.2017

 

Category

Percentage

Promoters (Body corporate)

99.9999995

Public/Other than promoters (Individual/Hindu Undivided Family – Indian)

0.0000005

Total 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into Computer Programming, Consultancy and related activities (Registered Activity)

 

 

Products / Services :

Item Code No.

Products/Services Description

99831413

Computer Programming, Consultancy and related activities

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

Not Divulged

Branch :

--

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

 

Auditors :

 

Name :

BSR and Company LLP

Chartered Accountants

Address :

Maruthi Info-Tech Centre 11-12/1 Inner Ring Road, Koramangala, Bangalore -560071, Karnataka, India

Income-tax PAN of auditor or auditor's firm :

AAAFB9852F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company  :
  • Infosys Limited

 

 

Fellow subsidiaries: (As on 2016)
  • Infosys BPO Limited (Infosys BPO) India
  • Infosys Technologies (China) Co. Limited (Infosys China) China
  • Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) Mexico
  • Infosys Technologies (Sweden) AB (Infosys Sweden) Sweden
  • Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) China
  • Infosys Tecnologia do Brasil Ltda. (Infosys Brasil) Brazil
  • Infosys Public Services, Inc. (Infosys Public Services) U.S.
  • Infosys Americas Inc. (Infosys Americas) U.S.
  • Infosys (Czech Republic) Limited s.r.o. (formerly Infosys BPO s. r. o)(1) Czech Republic
  • Infosys BPO (Poland) Sp. z o.o.(1) Poland
  • Infosys BPO S. de R. L. de C. V(1)(17) Mexico
  • Infosys McCamish Systems LLC(1) U.S.
  • Portland Group Pty. Limited(1) Australia
  • Portland Procurement Services Pty Ltd(5) Australia
  • Infosys BPO Americas LLC(1)(16) U.S.
  • Infosys Technologies (Australia) Pty. Limited (Infosys Australia)(2) Australia
  • Infosys Consulting Holding AG (Infosys Lodestone) (formerly Lodestone Holding AG) Switzerland
  • Lodestone Management Consultants Inc.(3) U.S.
  • Infosys Management Consulting Pty Limited ( formerly Lodestone Management Consultants Pty. Limited)(3) Australia
  • Infosys Consulting AG (formerly Lodestone Management Consultants AG)(3) Switzerland
  • Lodestone Augmentis AG(2)(6) Switzerland
  • Lodestone GmbH (formerly Hafner Bauer & Ödman GmbH)(2)(3) Switzerland
  • Lodestone Management Consultants (Belgium) S. A.(4) Belgium
  • Infosys Consulting GmbH (formerly Lodestone Management Consultants GmbH)(3) Germany
  • Infosys Consulting Pte Limited (formerly Lodestone Management Consultants Pte Ltd.)(3) Singapore
  • Infosys Consulting SAS (formerly Lodestone Management Consultants SAS)(3) France
  • Infosys Consulting s.r.o. (formerly Lodestone Management Consultants s.r.o.)(3) Czech Republic
  • Lodestone Management Consultants GmbH(3) Austria
  • Lodestone Management Consultants Co., Ltd.(3) China
  • Infy Consulting Company Limited (formerly Lodestone Management Consultants Ltd.)(3) U.K.
  • Infosys Consulting B.V. (formerly Lodestone Management Consultants B.V.)(3) Netherlands
  • Infosys Consulting Ltda. (formerly Lodestone Management Consultants Ltda.)(4) Brazil
  • Infosys Consulting Sp. Z o.o. (formerly Lodestone Management Consultants Sp. z o.o.)(3) Poland
  • Lodestone Management Consultants Portugal, Unipessoal, Lda.(3) Portugal
  • S.C. Infosys Consulting S.R.L. (formerly SC Lodestone Management Consultants S.R.L.)(3) Romania
  • Infosys Consulting S.R.L. (formerly Lodestone Management Consultants S.R.L.)(3) Argentina
  • Infosys Canada Public Services Ltd.(8) Canada
  • Infosys Nova Holdings LLC (Infosys Nova)(9) U.S.
  • Panaya Inc. (Panaya)(10) U.S.
  • Panaya Ltd.(11) Israel
  • Panaya Gmbh(11) Germany
  • Panaya Pty Ltd.(11) Australia
  • Panaya Japan Co. Ltd.(11) Japan
  • Skava Systems Pvt. Limited (Skava Systems)(12) India
  • Kallidus Inc. (Kallidus)(13) U.S.
  • Noah Consulting LLC (Noah)(14) U.S.
  • Noah Information Management Consulting Inc. (Noah Canada)(15) Canada

 

CAPITAL STRUCTURE

 

As on 24.06.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4100000000

Equity Shares

INR 10/- each

INR 41000.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1311840000

Equity Shares

INR 10/- each

INR 13118.400 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2016

31.03.2015

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

13118.400

4618.400

(b) Reserves & Surplus

 

(1603.501)

(705.027)

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

11514.899

3913.373

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

25490.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

0.000

64.829

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

25490.000

64.829

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

180.477

(b) Trade payables

 

2.579

174.090

(c) Other current liabilities

 

2830.555

306.448

(d) Short-term provisions

 

208.267

17.920

Total Current Liabilities (4)

 

3041.401

678.935

 

 

 

 

TOTAL

 

40046.300

4657.137

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

392.376

88.454

(ii) Intangible Assets

 

31129.047

3711.980

(iii) Capital work-in-progress

 

0.639

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

40.900

0.000

(d)  Long-term Loan and Advances

 

991.590

91.018

(e) Other Non-current assets

 

7.302

0.000

Total Non-Current Assets

 

32561.854

3891.452

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

316.881

0.000

(b) Inventories

 

0.000

0.000

(c) Trade receivables

 

3516.113

44.335

(d) Cash and cash equivalents

 

271.705

97.989

(e) Short-term loans and advances

 

3379.747

623.361

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

7484.446

765.685

 

 

 

 

TOTAL

 

40046.300

4657.137

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2016

31.03.2015

 

SALES

 

 

 

Revenue from operations

15329.618

1477.343

 

Other Income

58.566

0.673

 

TOTAL

15388.184

1478.016

 

 

 

 

Less

EXPENSES

 

 

 

Cost of Materials Consumed

0.000

0.000

 

Employee benefit expense

7009.112

599.331

 

Other expenses

5129.183

1136.561

 

TOTAL

12138.295

1735.892

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

3249.889

(257.876)

 

 

 

 

Less

FINANCIAL EXPENSES

623.200

0.000

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2626.689

(257.876)

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

3219.715

447.151

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(593.026)

(705.027)

 

 

 

 

Less

TAX

305.447

0.000

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(898.473)

(705.027)

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

F.O.B. Value of Exports

11134.792

1464.710

 

TOTAL EARNINGS

11134.792

1464.710

 

 

 

 

 

IMPORTS

 

 

 

Capital Goods

156.977

13.474

 

TOTAL IMPORTS

156.977

13.474

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(0.68)

(1.53)

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2016

31.03.2015

Current Maturities of Long term debt

 

NA

NA

Net cash flows from (used in) operations

 

2916.739

(463.723)

Net cash flows from (used in) operating activities

 

1672.788

(463.723)

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)
 

83.72

10.95

 
 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)
 

4.36

33.32

 
 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)
 

0.00

0.00

 
 

 

 

Inventory Turnover

(Operating Income / Inventories)
 

0.00

0.00

 
 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)
 

0.10

(0.07)

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)
 

0.71

0.15

 
 

 

 

Debt Equity Ratio

(Total Liability / Networth)
 

2.21

0.05

 
 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)
 

0.26

0.17

 
 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)
 

2.74

0.97

 
 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)
 

5.21

0.00

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%
 

(5.86)

(47.72)

 

 
 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%
 

(2.24)

(15.14)

 

 
 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%
 

(7.80)

(18.02)

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)
 

2.46

1.13

 
 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)
 

2.46

1.13

 
 

 

 

G-Score Ratio Financial

(Networth / Total Assets)
 

0.29

0.84

 
 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)
 

1.94

0.04

 
 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)
 

2.46

1.13

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

 

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

Share Capital

 

4618.400

13118.400

Reserves & Surplus

 

(705.027)

(1603.501)

Money received against share warrants

 

0.000

0.000

Share Application money pending allotment

 

0.000

0.000

Net worth

 

3913.373

11514.899

 

 

 

 

long-term borrowings

 

0.000

25490.000

Short term borrowings

 

180.477

0.000

Total borrowings

 

180.477

25490.000

Debt/Equity ratio

 

0.046

2.214

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

 

31.03.2015

31.03.2016

 

 

(INR In Million)

(INR In Million)

Sales

 

1477.343

15329.618

 

 

 

937.648

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 

31.03.2015

31.03.2016

 

 

(INR In Million)

(INR In Million)

Sales

 

1477.343

15329.618

Profit/(Loss)

 

(705.027)

(898.473)

 

 

(47.72 %)

(5.86 %)

 

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

Yes

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

No

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

No

26]

Turnover of firm for last about two years

Yes

27]

Reasons for variation <> 20%

--

28]

Estimation for coming financial year

No

29]

Profitability for last about two 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

 

COMPANY’S OVERVIEW (As on 2016)

The company, a wholly-owned subsidiary of Infosys, develops innovative software products and offers them on premise or as cloud-hosted business platforms. Their products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. They power their clients’ growth in rapidly evolving areas like banking, distributive trade, credit servicing, customer service, and enterprise buying. Today, global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecommunications, use EdgeVerve products.

 

PRODUCTS

AssistEdge, our flagship offering in the customer experience and service space, delivers an integrated, cross channel experience and reduces service intensity by enhancing operational productivity. TradeEdge is the best insights-driven sales platform for global brands to accelerate profitable growth in the emerging markets. ProcureEdge is the next-generation procurement platform which ensures higher compliance, risk governance, and improves spend visibility in procurement space. CreditFinanceEdge provides flexibility while delivering integrated primary and special servicing functions, loss mitigation, hard asset management, and litigation tracking in one platform. Finacle, our universal banking solution, is the choice of financial institutions across 94 countries and serves over 848 million customers – estimated to be nearly 16.5% of the world’s adult banked population. The solution is consistently rated as a leader in the market by top industry analysts and is proven to be the most scalable banking platform globally. An independent assessment of the top 1,000 world banks revealed that banks powered by Finacle enjoy 50% higher returns on assets, 30% higher returns on capital, and 8.1% points lesser costs to income than others.

 

AWARDS

• DBS Bank, Singapore and Infosys Finacle were adjudged the winner of the Outstanding Technology Implementation

Awardat The Asian Banker Annual Business Achievement Awards

• Infosys Finacle was conferred The Asian Banker Vendor Satisfaction Survey Gold Award 2015 based on a survey of banks in Asia Pacific, Middle East and Africa

• The Housing Bank for Trade and Finance (HBTF), Jordan and Infosys Finacle were awarded the Best Regional Core Banking Implementation Project at The Asian Banker Middle East and Africa International Banking Convention

• Union National Bank(UNB),UAE and Infosys Finacle were awarded the Best Treasury Management Project at The Asian

Banker Middle East and Africa International Banking Convention

• Infosys Finacle was adjudged the Best Core Banking System by The Banker Middle East

• Infosys Finacle has been adjudged the Best Core Banking System and Best Technology Provider in Western Africa by The Banker Africa

• Finacle’s implementation at the 104 co-operative banks under NABARD was declared as a winner at the Gujarat Cooperative Summit Awards

• The Consumer Goods Technology(CGT)group honored Trade Edge with the Readers’ Choice award for the year2016.

 

UNSECURED LOAN

 

PARTICULAR

31.03.2016

(INR in Million)

31.03.2015

(INR in Million)

Long-term Borrowings

 

 

Non-convertible debentures others

25490.000

0.000

 

 

 

Short-term borrowings

 

 

Non-convertible debentures others

0.000

180.477

 

 

 

Total

25490.000

180.477

 

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY 

 

CONTINGENT LIABILITIES:

 (INR in million)

PARTICULARS

31.03.2016

31.03.2015

Estimated amount of contracts remaining to be executed on capital account and not provided for

122.911

5.511

 

FIXED ASSETS

  • Office equipment
  • Plant and equipment
  • Furniture and fixtures
  • Computer

 

 

WEBSITE DETAILS

 

PRESS RELEASES / NEWS

 

Date: 23.09.2017

 

INFOSYS ARM TO TAKE INDIAN START-UP TECH TO GLOBAL FINANCIAL CLIENTS

 

EDGEVERVE SYSTEMS IS PLANNING TO MAKE USE OF TONETAG'S NEAR-FIELD COMMUNICATIONS, PAYMENTS AND LOCATION-BASED SERVICES

 

 

EdgeVerve Systems, the financial product unit of Infosys, the information technology major, is tapping into the expertise of Indian start-ups to step up its digital offering as part of its Finacle platform to financial service customers globally.

 

In September, the company (a fully owned subsidiary of Infosys) firmed two partnerships with local start-ups to take their solutions to customers globally. On Friday, it said it would take near-field communications, payments and location-based services of ToneTag, a Bengaluru start-up that is backed by former Infosysdirector T V Mohandas Pai, to its customers as part of Finacle.

 

ToneTag also counts among its investors Facebook Product director Anand Chandrasekaran; co-founder ofi-Flex Solutions Deepak Ghasias; and former Wipro chief executive T K Kurien.

 

 

Last week, Infosys Finacle joined hands with Ratan Tata's Unilazer Venture-backed Niki.ai to build a joint solution and provide a "smart-purchasing chatbot by using natural language processing and machine learning to speak with customers and perform online transactions". Niki.ai can also deliver personalised suggestions for customers of Infosys' banking and other financial service client analysis.

 

ToneTag will offer flexible payment solutions at banks using contactless technology, with the help of biometrics authentication capabilities at InfosysFinacle. This combination will help consumers approve a transaction on their phone without sharing the card or account information with the merchant, saidInfosys.

 

These start-ups were recognised at Finacle FinTech Connect, an initiative that focuses on alliances and uses the Infosys Innovation Fund programme to identify promising financial technology start-ups.

 

 

Such partnerships, analysts say, will primarily help Infosys build smart offerings for financial service sectors at a lesser cost, using expertise from start-ups that is already available.

 

Customers of IT service companies across the globe are seeking Artificial Intelligence, machine learning and other digital technology-based offerings that can bring down the cost of operations and ensure better customer experience. This has resulted is small deal sizes for these IT companies, long dependent on large and long-term software service deals.

 

The Niki.ai chatbot solution should help banks to enhance their revenues and improve customer stickiness, said Sanat Rao, chief business officer at Infosys Finacle. The services offered using ToneTag would provide banks a significant opportunity to gain control of the 'last mile payment experience', without making a substantial capital investment.

 

Nitin Babel, co-founder of Niki.ai, said he'd gradually go global with the Infosys client base, once use of its chatbot becomes popular at Indian banks.

 

"The utility of the Niki chatbot is multifold. It can support any digital transaction, be it a banking one or an e-commerce payment. Hence, it can be adopted in different markets. First, our focus is to gain significant foothold in the domestic (India) market and with this partnership, we can plan to go global within a year," he said.

 

Fintech catch

EdgeVerve Systems, an Infosys subsidiary, has said it would offer near-field communications, payments and location-based services of ToneTag, a Bengaluru start-up backed by former Infy director T V Mohandas Pai, to its customers

 

Earlier, Infosys Finacle joined hands with Ratan Tata’s Unilazer Venture-backed Niki.aito build a joint solution and provide a ‘smart-purchasing chatbot to speak to customers and perform online transactions’

The firms were recognised at Finacle FinTech Connect, an initiative that focuses on alliances and uses the Infosys Innovation Fund programme to identify promising fintech start-ups

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No 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 63.39

UK Pound

1

INR 85.74

Euro

1

INR 76.25

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHW

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

RKI

 

 

SCORE FACTORS

 

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

 

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)

 

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

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