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|
MIRA
INFORM REPORT
|
Report No. : |
517378 |
|
Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
NETZARY INFODYNAMICS |
|
|
|
|
Registered
Office : |
#362/7, 3rd Floor, 16th Main, 34th Cross, Jayanagar 4th T Block, Above Ample Mart, Bangalore-560041 , Karnataka |
|
Tel. No.: |
91-80-41738665 |
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|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2017 (Financial) 31.03.2018 (Turnover Figure) |
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|
|
|
Year of
Establishment : |
2015 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 6.843 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AHWPS6622H |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AHWPS6622H1ZJ |
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|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Subject is engaged in providing web security and web technologies services as
well as exporters of finished goods and importer of raw material. (Confirmed
by management) |
|
|
|
|
No. of Employees
: |
50 (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 19500 (In INR 1344817.50) |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a proprietorship concern established in the year 2015 and
it is engaged in providing web security and web technologies services as well as exporters of
finished goods and importer of raw material. Mr. Ramdas (Proprietor) provided information and claimed that the
subject has achieved revenue of INR 60.000 million for FY-2018. However,
figures not verified. As per available financial figures, the concern has achieved revenue of
INR 67.21 million for FY-2017 and has clocked a net profit margin of 5.97%
during the year. The general financial position of the concern is reflected by
comfortable capital base and ideal debt protection metrics. Payment seems to be usually correct. In view of aforesaid, the concern can be considered for business
dealings at usual trade terms and conditions. Note: Site visit report will be sent in due course. |
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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
31-03-2018.
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 28.06.2018
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 PARTED BY
|
Name : |
Mr. Ramdas Sivadas |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9035083065 |
|
Date : |
27.06.2018 |
LOCATIONS
|
Registered Office : |
#362/7, 3rd Floor, 16th Main, 34th Cross, Jayanagar 4th T Block, Above Ample Mart, Bangalore-560041 , Karnataka, India |
|
Tel. No.: |
91-80-41738665 / 26532424 |
|
Mobile No.: |
91-9035083065 (Mr. Ramdas Sivadas) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq. Ft. |
|
Location : |
Rented |
|
Locality : |
Commercial |
SOLE PROPRIETOR
|
Name : |
Mr. Ramdas Sivadas |
|
Designation : |
Proprietor |
|
Date of Birth: |
20.05.1973 |
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PAN No.: |
AHWPS6622H |
|
Aadhaar No.: |
3002 0719 5402 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing web security and web technologies services as
well as exporters of finished goods and importer of raw material. (Confirmed
by management) |
|
|
|
|
Products/Services: |
Security
and Web Technologies |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
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Exports : |
|
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Products : |
Finished Goods |
|
Countries : |
|
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|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
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Selling : |
Advance Payment, Cash and Cheque |
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|
|
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Purchasing : |
Advance Payment, Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Prasanna Kumara M.G. and Company Chartered Accountants |
|
Address : |
Bangalore, Karnataka, India |
|
Membership No.: |
241320 |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Membership : |
Not Available |
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|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2017
|
Capital Account |
31.03.2017 (INR in million) |
|
|
As per last Balance sheet |
4.058 |
|
|
Add: Net Profit |
3.809 |
|
|
Additions |
0.200 |
8.067 |
|
|
|
|
|
Less: Drawings |
|
|
|
Income Tax |
0.126 |
|
|
TDS |
0.754 |
|
|
Drawings |
0.344 |
1.224 |
|
Total |
|
6.843 |
FINANCIAL DATA
[all figures are INR
Million]
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
60.000 |
|
|
|
|
|
Expected Sales (2018-2019): INR 80.000 Million (Due to business growth)
The above information has been parted by Mr. Ramdas Sivadas (Proprietor)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
EQUITY
AND LIABILITIES |
|
|
|
|
|
1] Proprietors Capital |
|
|
6.843 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6.843 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1.386 |
|
|
TOTAL BORROWING |
|
|
1.386 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.229 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.986 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.088
|
|
|
Sundry Debtors |
|
|
29.344
|
|
|
Cash & Bank Balances |
|
|
1.142
|
|
|
Other Current Assets |
|
|
0.280
|
|
|
Loans, Advances and Deposit |
|
|
0.453
|
|
Total
Current Assets |
|
|
31.307
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
23.604
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
1.460
|
|
Total
Current Liabilities |
|
|
25.064
|
|
|
Net Current Assets |
|
|
6.243
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.229 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
67.213 |
|
|
Other Income |
|
|
0.223 |
|
|
TOTAL |
|
|
67.436 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of goods sold |
|
|
55.720 |
|
|
Direct Expenses |
|
|
0.261 |
|
|
Audit fee |
|
|
0.030 |
|
|
Advertisement expenses |
|
|
0.068 |
|
|
Bad debts |
|
|
0.066 |
|
|
Bonus |
|
|
0.365 |
|
|
Business promotions
expense |
|
|
0.033 |
|
|
Commission paid |
|
|
0.093 |
|
|
Computer maintenance |
|
|
0.076 |
|
|
CST paid |
|
|
0.005 |
|
|
Currency exchange loss |
|
|
0.045 |
|
|
Discount allowed |
|
|
0.011 |
|
|
Electricity and water
charges |
|
|
0.024 |
|
|
Godown rent |
|
|
0.054 |
|
|
Ineligible input St @
0.5% (SBC) |
|
|
0.072 |
|
|
Miscellaneous expenses |
|
|
0.049 |
|
|
Office expenses |
|
|
0.086 |
|
|
Professional fee |
|
|
0.460 |
|
|
Pooja expenses |
|
|
0.053 |
|
|
Postage and courier |
|
|
0.028 |
|
|
Printing and stationery |
|
|
0.023 |
|
|
Rates and taxes |
|
|
0.003 |
|
|
Rent |
|
|
0.350 |
|
|
Salary |
|
|
4.446 |
|
|
Server domain charges |
|
|
0.004 |
|
|
Staff health insurance |
|
|
0.066 |
|
|
Staff refreshment |
|
|
0.358 |
|
|
Travelling and conveyance
|
|
|
0.192 |
|
|
Telephone and mobile
charges |
|
|
0.122 |
|
|
Unclaimed input |
|
|
0.057 |
|
|
Vehicle repair and
maintenance |
|
|
0.119 |
|
|
TOTAL |
|
|
63.339 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND
AMORTISATION |
|
|
4.097 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.024 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE,
DEPRECIATION AND AMORTISATION |
|
|
4.073 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.264 |
|
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
|
|
3.809 |
|
Particulars |
|
|
31.03.2016 |
|
Sales Turnover (Approximately) |
|
|
35.000 |
The above information has been parted by Mr. Ramdas Sivadas (Proprietor)
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
159.35 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
2.29 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
153.90 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
46.56 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
2.06 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
0.20 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
3.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.29 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
170.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
|
5.67 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
11.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
55.67 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
1.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
0.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.18 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
35.000 |
67.213 |
60.000 |
|
|
|
92.037 |
(10.732) |
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last one year |
No |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 68.08 |
|
|
1 |
INR 89.59 |
|
Euro |
1 |
INR 78.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
RUB |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.