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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

488801

Report Date :

31.01.2018

 

IDENTIFICATION DETAILS

 

Name :

TANLA SOLUTIONS LIMITED

 

 

Registered Office :

Tanla Technology Centre, Hi-Tech City Road, Madhapur, Hyderabad – 500081, Telangana

Tel. No.:

91-40-40099999

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

28.07.1995

 

 

Com. Reg. No.:

36-021262

 

 

Capital Investment / Paid-up Capital :

INR 107.486 Million

 

 

CIN No.:

[Company Identification No.]

L72200TG1995PLC021262

 

 

IEC No.:

Not Divulged

 

 

GSTIN :

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company offers software products. The Company offers Application-to-Person Service (A2P) messaging platform globally. Its range of services includes product development and implementation in wireless telephony industry, aggregator services and offshore development services. (Registered Activity)

 

 

No. of Employees :

155 (Approximately)

 

 

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

 

Maximum Credit Limit :

USD 18300000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1995 and it provides software development and related services.

 

As per financials of March 2017, the company has registered a growth of 78.15% in its revenue as compared to its previous year’s revenue but has incurred losses.

 

Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with zero debt balance sheet and good liquidity position.

 

Rating also takes into account the experienced promoters and management team, established market position in Application to Person (A2P) messaging segment with tie-up in place for providing service for majority of telecom players operating in India.

 

Share are quoted high on Stock Exchanges. (Share are traded at a price of INR 34.20 against its face value of INR 1)

 

However, rating strength is partially offset by its presence in concentrated revenue profile and high technological obsolescence risk.

 

As per unaudited quarterly financials of December 2017, the company has achieved a revenue of INR 1732.212 million and has reported minimal profit margin of 0.10%.

 

Payments seems to be regular.

 

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.

 

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

 

 

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 31.01.2018.

 

 

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 DECLINED

 

Management non-cooperative (Tel No.: 91-40-40099999)

 

 

LOCATIONS

 

Registered Office :

Tanla Technology Centre, Hi-Tech City Road, Madhapur, Hyderabad – 500081, Telangana, India

Tel. No.:

91-40-40099999

Mobile No.:

Not Available

Fax No.:

91-40-23122999

E-Mail :

sales@tanla.com

support@tanla.com

investorhelp@tanla.com

Website :

www.tanla.com

 

 

Global Offices :

Located At

  • United Arab Emirates
  • Singapore

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Udaykumar Reddy Dasari

Designation :

Chairman and Managing Director

Address :

8-2-293/82/A/1178, Plot No 1178 Road No 60, Jubilee Hills, Shaikpet Hyderabad - 500033, Telangana, India

Date of Appointment :

27.11.1999

DIN No :

00003382

 

 

Name :

Mr. Ram Narain Agarwal

Designation :

Director

Address :

18-8-254/1/A/32 Bharat Ratna Society, P.O. Saidabad, Hyderabad – 500059, Telangana, India

Date of Appointment :

11.11.2005

DIN No :

00003498

 

 

Name :

Mr. Ravindranath Anantapurguggilla Reddy

Designation :

Director

Address :

202, Pavani Annexe Road No-2, Banjara Hills, Hyderabad - 500034, Telangana, India

Date of Appointment :

29.01.2014

DIN No :

01729114

 

 

Name :

Ms. Kunda Kalpana

Designation :

Director

Address :

Flat No. A703 Rainbow Vistas-1, Cyber City, IDL Road, Near Hitech City Mmts Station, Moosapet K Ukatpally, Hyderabad - 500072, Telangana, India

Date of Appointment :

30.10.2015

DIN No :

07328517

 

 

Name :

Mr. Gautam Sabharwal

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Gunupudi Kamoji Srinivas

Designation :

Chief Finance Officer

Address :

10-2-318/1/A/5, Plot 24/304, Indira Nagar,Near Meena Gardens Vijaya Nagar Colony, Asif Nagar Hyderabad 500057

Date of Appointment :

30.05.2014

PAN :

AFFPG4635M

 

 

Name :

Ms. Chava Seshanuradha

Designation :

Company Secretary and Compliance Officer

Address :

3D, MRF Colony,  Near R C Puram, Near Bhel, Hyderabad - 500032, Telangana, India

Date of Appointment :

06.11.2005

PAN :

ADHPC2054J

 

 

Audit Committee :
  • Ram Narain Agarwal – Chairman
  • A.G. Ravindranath Reddy – Member
  • N. Kalpana Reddy – Member

 

 

Stakeholders Relationship Committee :
  • Ram Narain Agarwal – Chairman
  • D Uday Kumar Reddy – Member
  • A.G. Ravindranath Reddy – Member

 

 

Nomination and Remuneration Committee :
  • Ram Narain Agarwal – Chairman
  • N. Kalpana Reddy – Member
  • A.G. Ravindranath Reddy – Member

 

 

Corporate Social Responsibility Committee :
  • D Uday Kumar Reddy – Chairman
  • Ram Narain Agarwal – Member
  • A.G. Ravindranath Reddy – Member

 

 

MAJOR SHAREHOLDERS

 

As on 31.12.2017

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)

Promoter & Promoter Group

34435763

30.63

Public

77986189

69.37

Grand Total

112421952

100.00

 

 

 

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of

A1) Indian

0.00

Individuals/Hindu Undivided Family

33815763

30.08

Dasari Uday Kumar Reddy

19496493

17.34

Dasari Tanuja Reddy

14319270

12.74

Any Other (Specify)

620000

0.55

Veda Matha Technologies Private Limited

305000

0.27

Arka Dresswear Pvt Ltd

315000

0.28

Sub Total A1

34435763

30.63

A2) Foreign

0.00

A=A1+A2

34435763

30.63

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a % of

B1) Institutions

0.00

Financial Institutions/ Banks

146911

0.13

Any Other (Specify)

85886

0.08

Sub Total B1

232797

0.21

B2) Central Government/ State Government(S)/ President Of India

0.00

B3) Non-Institutions

0.00

Individual Share Capital Upto INR 0.200 Million

49153923

43.72

Individual Share Capital In Excess Of INR 0.200 Million

13877345

12.34

Mareddy Perareddy

1531186

1.36

Madhavi Mareddy

1600000

1.42

Gautam Sabharwal

3428593

3.05

Nbfcs Registered With RBI

72880

0.06

Any Other (Specify)

14649244

13.03

Trusts

11076

0.01

Nri

2575704

2.29

Clearing Members

1647122

1.47

Nri – Non- Repat

517623

0.46

Bodies Corporate

9864721

8.77

Mounika Finance And Leasing Private Limited

3479000

3.09

Iepf

32998

0.03

Sub Total B3

77753392

69.16

B=B1+B2+B3

77986189

69.37

 

BUSINESS DETAILS

 

Line of Business :

The Company offers software products. The Company offers Application-to-Person Service (A2P) messaging platform globally. Its range of services includes product development and implementation in wireless telephony industry, aggregator services and offshore development services. (Registered Activity)

 

 

Products / Services :

NIC Code No.

Products/Services Description

64

Software products

 

 

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 :

155 (Approximately)

 

 

Bankers :

Banker Name :

HDFC Bank Limited

Branch :

HDFC Bank House, Senapati Bapat Marg, lower Parel (West) Mumbai – 400013, Maharashtra, India

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 :

--

 

 

Statutory Auditors :

 

Name :

Ramasamy Koteswara Rao and Company

Chartered Accountants

Address :

Sri Ramchandra Arcade, # 8-2-293/82/ JIII/M/1F, 1st Floor, Road No. 82, Jubilee Hills, Hyderabad – 500033, Telangana, India

 

 

Internal Auditors :

 

Name :

KPMG

Chartered Accountants

Address :

8-2-618/2, Reliance Humsafar, 4th Floor, Road No 11, Banjara Hills, Hyderabad – 500034, Telangana, India

 

 

Secretarial Auditors :

 

Name :

R and A Associates

Chartered Accountants

Address :

Office No. T 202, Technopolis, 1-10-74/B, Above Ratnadeep Super Market, Chikoti Gardens, Begumpet, Hyderabad– 500016, Telangana, India

 

 

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries :
  • Tanla Corporation Private Limited (Known as Mufithumb Corporation Private Limited) (CIN - U70100TG1998PTC054527)
  • Tanla Mobile Asia Pacific Pte. Limited, Singapore
  • Tanla Solutions (UK) Limited , United Kingdom
  • Tanla Mobile Middle East FZ LLC, Dubai

 

 

Joint Venture :
  • TZ Mobile Private Limited

 

 

CAPITAL STRUCTURE

 

After 18.09.2017

 

Authorised Capital : INR 120.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 112.422 Million

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

120000000

Equity Shares

INR 1/- each

INR 120.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

107485785

Equity Shares

INR 1/- each

INR 107.486 Million

 

 

 

 

 

A Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period:

 

Particulars

No of Share

Value of Share

INR In million

Shares outstanding at the beginning of the year

101479593

INR 1/- each

INR 101.480 Million

Add: Issued and allotted during the year

6006192

INR 1/- each

INR 6.006 Million

Less: Shares bought back during the year

-

-

 

Shares outstanding at the end of the year

107485785

INR 1/- each

INR 107.486 Million

 

The Company has one class of equity shares of INR 1/- each fully paid-up. As on 1st January, 2017 the paid-up share capital of the Company was INR 101.480 Million. The Company has on January 27, 2017 allotted 942360 fully paid-up equity shares of INR 1/- each to the eligible employees under the Tanla ESOP Plan 2015 upon completion of vesting period of 1 year post grant. The Company has on 1st March, 2017 allotted 5063832 fully paid-up equity shares of INR 1/- each to the Promoters Mr. D. Uday Kumar Reddy & Ms. D. Tanuja Reddy upon conversion of preferential warrants into equity subsequent to receipt of allotment money. As on 31st March, 2017 the paid-up share capital of the Company is INR 107.486 Million.

 

(ii) Terms/Rights and restrictions attached to the equity shares:

 

The Company has only one class of equity shares having a face value of INR 1/-. Each shareholder is eligible for one vote per every share held.

 

 

 

Details of Shareholder holding more than 5% shares of the company:

 

Particulars

No of Share

% of Share

Equity Shares of INR 1/- each Held By

 

 

D Uday Kumar Reddy

17028409

15.84%

D Tanuja Reddy

11851187

11.03%

Gautam Sabharwal

7330600

6.82%

 

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

107.486

101.480

101.480

(b) Reserves & Surplus

6298.162

6260.439

6150.469

(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

6405.648

6361.919

6251.949

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

2.974

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.935

0.917

1.020

(d) long-term provisions

1.729

0.884

0.000

Total Non-current Liabilities

2.664

1.801

3.994

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

1.177

(b) Trade payables

1223.809

415.925

388.111

(c) Other current liabilities

89.779

131.739

50.399

(d) Short-term provisions

0.021

0.021

11.725

Total Current Liabilities

1313.609

547.685

451.412

 

 

 

 

TOTAL

7721.921

6911.405

6707.355

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

280.825

250.450

308.488

(ii) Intangible Assets

38.538

38.537

0.000

(iii) Capital work-in-progress

197.686

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

527.375

5331.366

5313.795

(c) Deferred tax assets (net)

64.605

54.934

43.788

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

4244.028

69.599

121.833

Total Non-Current Assets

5353.057

5744.886

5787.904

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

947.948

654.471

618.705

(d) Cash and cash equivalents

1198.677

440.693

249.735

(e) Short-term loans and advances

1.554

0.475

13.210

(f) Other current assets

220.685

70.880

37.801

Total Current Assets

2368.864

1166.519

919.451

 

 

 

 

TOTAL

7721.921

6911.405

6707.355

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

4987.150

2799.460

1326.117

 

Other Income

23.977

4.900

52.078

 

TOTAL

5011.127

2804.360

1378.195

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

4414.230

2401.177

1082.003

 

Connectivity and related expenses

15.817

6.840

0.000

 

Travel Expenses

13.595

18.878

0.000

 

Employees benefits expense

118.666

87.346

66.405

 

Other expenses

353.400

161.642

63.054

 

Advertisement expenses

0.000

0.000

4.302

 

TOTAL

4915.708

2675.883

1215.764

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

95.419

128.477

162.431

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

110.551

29.814

103.827

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(15.132)

98.663

58.604

 

 

 

 

 

Less

TAX

(8.844

62.200

27.911

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(6.288)

36.463

30.693

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

21.013

0.306

2.128

 

TOTAL EARNINGS

21.013

0.306

2.128

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(0.06)

0.36

30.00

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

645.196

186.321

466.220

Net cash flows from (used in) operating activity

645.196

186.321

466.220

 

 

QUARTERLY RESULTS

 

Particulars

 

(Unaudited)

Quarter Ended 30.06.2017

(Unaudited)

Quarter Ended 30.09.2017

(Unaudited)

Quarter Ended 31.12.2017

 

 

 

 

Net Sales

1720.920

1673.640

1732.210

Total Expenditure

1598.000

1514.170

1626.830

PBIDT (Excl OI)

122.920

159.470

105.380

Other Income

2.100

0.790

4.200

Operating Profit

125.030

160.260

109.580

Interest

NA

NA

NA

Exceptional Items

NA

NA

NA

PBDT

125.030

160.260

109.580

Depreciation

107.860

106.900

107.160

Profit Before Tax

17.170

53.360

2.430

Tax

(74.660)

(12.970)

0.700

Provisions and contingencies

NA

NA

NA

Profit After Tax

91.830

66.330

1.720

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

91.830

66.330

1.720

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

69.38

85.33

170.29

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.26

4.28

2.14

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

100.83

63.04

130.92

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.18

0.44

0.53

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.17

0.08

0.07

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.00

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.21

0.09

0.07

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.08

0.05

0.05

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

(0.13)

1.30

2.31

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(0.08)

0.53

0.46

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(0.10)

0.57

0.49

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.80

2.13

2.04

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.80

2.13

2.04

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.83

0.92

0.93

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.00

0.00

0.04

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.80

2.13

2.04

 

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

 

 

STOCK PRICES

 

Face Value

INR 1.00/-

Market value

INR 34.20/-

 

 

FINANCIAL ANALYSIS

[all figures are in 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

101.480

101.480

107.486

Reserves & Surplus

6150.469

6260.439

6298.162

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

6251.949

6361.919

6405.648

 

 

 

 

long-term borrowings

2.974

0.000

0.000

Short term borrowings

1.177

0.000

0.000

Total borrowings

4.151

0.000

0.000

Debt/Equity ratio

0.001

0.000

0.000

 

 

 

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

1326.117

2799.460

4987.150

 

 

111.102

78.147

 

 

 

 

 

 

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

1326.117

2799.460

4987.150

Profit / (Loss)

30.693

36.463

(6.288)

 

2.31%

1.30%

(0.13)%

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

107.486

101.480

(b) Reserves & Surplus

 

6455.519

6446.787

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds

 

6563.005

6548.267

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

0.935

0.917

(d) long-term provisions

 

1.729

0.884

Total Non-current Liabilities

 

2.664

1.801

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

0.000

(b) Trade payables

 

1233.766

881.883

(c) Other current liabilities

 

109.879

99.947

(d) Short-term provisions

 

0.000

0.000

Total Current Liabilities

 

1343.645

981.830

 

 

 

 

TOTAL

 

7909.314

7531.898

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

451.664

483.101

(ii) Intangible Assets

 

4171.984

29.792

(iii) Capital work-in-progress

 

244.974

3591.334

(iv) Intangible assets under development

 

0.000

1400.319

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

69.053

49.066

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

216.927

230.438

Total Non-Current Assets

 

5154.602

5784.050

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

220.929

292.487

(c) Trade receivables

 

1136.279

828.318

(d) Cash and cash equivalents

 

1333.018

508.990

(e) Short-term loans and advances

 

1.554

0.475

(f) Other current assets

 

62.932

117.578

Total Current Assets

 

2754.712

1747.848

 

 

 

 

TOTAL

 

7909.314

7531.898

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

5793.000

4315.535

 

Other Income

 

24.921

10.589

 

TOTAL

 

5817.921

4326.124

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

4945.497

3165.450

 

Connectivity and related expenses

 

20.298

15.623

 

Travel Expenses

 

25.677

28.003

 

Employees benefits expense

 

144.408

120.654

 

Other expenses

 

96.153

330.335

 

TOTAL

 

5232.033

3660.065

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

585.888

666.059

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

195.913

529.524

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

389.975

136.535

 

 

 

 

 

Less

TAX

 

(19.159)

64.126

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

409.134

72.409

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

4.01

0.72

 

 

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

Yes

5]

Buyer visit details

--

6]

Contact numbers

Yes

7]

Name of the person contacted

Yes

8]

Designation of contact person

Yes

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

Yes

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]

Litigations that the firm/promoter involved in

--

32]

Market information

--

33]

Payments terms

Yes

34]

Negative Reporting by Auditors in the Annual Report

No

 

 

CORPORATE INFORMATION

 

The company Subsidiaries (hereinafter collectively referred to as “the Group”) is the largest A2P messaging platform provider globally. The Company was incorporated on July 28th, 1995 in Hyderabad and listed on BSE and NSE. Tanla has its headquarters and development facilities in Hyderabad, India and serves a global customer base through its subsidiaries and a branch in Dubai. Tanla’s range of services include product development and implementation in wireless telephony industry, aggregator services and offshore development services.

 

The consolidated financial statements for the year ended 31st March, 2017 were approved by the Board of Directors and authorised for issue on May 18, 2017.

 

OPERATIONS:

 

The company was founded in the year 1999 and is listed since 2007, a Hyderabad based Indian Company is one of the largest A2P messaging platform service provider globally and conquers majority percentage of Indian market as of the previous fiscal.

 

They are transforming to be leaders in the Cloud Communications space and have developed the platform to provide world-class telecom solutions with no third-party dependencies, creating incremental value at zero-capital investment for their partners. Their robust and reliable products and solutions offer scalability to enterprises and mobile operators augmenting their network performance, security along with generating revenue opportunities.

 

They aim to enable enterprises and telcos to integrate complex communications into their applications including SMS, Voice and Push Notifications. They also aim to increase their footprint, both, in the domestic as well as in the international market giving Tanla a global presence.

 

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

G45113750

10529861

HDFC BANK LIMITED

07/11/2014

11/01/2017

270000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAI MH400013IN

2

G36134039

10539554

HDFC BANK LIMITED

05/11/2014

11/01/2017

270000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAI MH400013IN

 

STATEMENT OF UNAUDITED FINANCIAL RESULT FOR THE QUARTER ENDED AND NINE MONTH ENDED 31.12.2017

 

Particulars

Quarter ended

Quarter ended

Nine Month ended

 

31.12.2017

30.09.2017

31.12.2017

INCOME FROM OPERATIONS

 

 

 

Net Sales

1732.212

1673.638

5126.775

Other Income

4.198

0.793

7.094

Total Revenue

1736.410

1674.431

5133.869

 

 

 

 

EXPENSES

 

 

 

Cost of materials consumed

1564.713

1450.106

4538.573

Changes in inventories of finished goods and work-in-progress

0.000

0.000

0.000

Employee benefits expense

31.745

32.403

100.827

Depreciation and Amortization expenses

107.160

106.899

321.919

Connectivity and related expenses

5.775

4.701

16.544

Travel Expenses

3.720

8.292

20.140

Other Expenditure

20.872

18.674

62.916

Total Expenses

1733.985

1621.075

5060.919

 

 

 

 

Profit before tax

2.425

53.356

72.950

 

 

 

 

Tax Expenses

 

 

 

Income Tax

0.517

11.836

15.569

Deferred Tax

0.184

(24.809)

(102.503)

Total

0.701

(12.973)

(86.934)

Profit/(Loss) for the period

1.724

66.329

159.884

Other Comprehensive Income for the period

0.137

0.137

0.412

Total Comprehensive Income for the period

1.861

66.466

160.296

Shareholder of the company

1.861

66.466

160.296

Paid-up equity share capital, Equity shares of INR  1/- each

112.422

112.422

112.422

Earning Per Share

 

 

 

Basic

0.02

0.59

1.42

Diluted

0.02

0.59

1.42

 

Notes:

 

  1. The above unaudited financial result for the quarter and nine months ended December 31, 2017 have been subject to a limited review by the Auditor, reviewed by the Audit Committee and approved by the board of Directors at its Meeting held on January 24, 2018.

 

  1. The above Unaudited financial result have been prepared in accordance with the IND S notified under the Companies (Indian Accounting Standards) Rules, 2015.

 

3. The unaudited financial result for the quarter and nine months ended December 31, 2017 are available on the company’s and on the BSE.

 

 

CONTINGENT LIABILITIES:

 

Total Guarantees outstanding as of 31st March, 2017 amounting to INR 249.000 lakhs (31st March, 2016 – INR 280.00 lakhs) have been issued by banks on behalf of the Company. These guarantees have been given by the banks to mobile operators against their receivable from the Company. The balance contingent liabilities are in respect of subjudice matters and represent the probable liability on account of service tax matters under appeal.

 

Claims against the Company not acknowledged as debt:

 

(INR in million)

PARTICULARS

31.03.2017

31.03.2016

Outstanding guarantees given by the company

249.000

28.000

Claims against company, not acknowledged as debts

164.622

164.622

Claims made by company, not acknowledged as debts

-

-

Corporate Guarantee given to subsidiary companies

-

-

 

Unless otherwise stated, the Management believes that, based on legal advice, the outcome of these contingencies will be favorable and that loss is not a probable.

 

 

 

FIXED ASSETS

  • Land
  • Building
  • Furniture and Fixture
  • Computers and Software
  • Plant and Machinery
  • Office Equipment
  • Vehicles
  • Air Conditioners
  • License Manager 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 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 63.75

UK Pound

1

INR 89.39

Euro

1

INR 78.75

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

TRUP

 

 

SCORE FACTORS

 

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

 

 

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.