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MIRA INFORM REPORT
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Report No. : |
494446 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
INFLOW
TECHNOLOGIES PRIVATE LIMITED [w.e.f.28.10.2015] |
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|
Formerly Known
As : |
ENSICOMM
SOLUTIONS PRIVATE LIMITED [w.e.f. 03.03.2014] WESTCON
(INDIA) PRIVATE LIMITED |
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|
|
Registered
Office : |
“Inflow House”, No. 33
and 34, Indiranagar, 1st Stage, Off 100 Ft Road, Bangalore – 560038,
Karnataka |
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Tel. No.: |
91-80-41265151 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
10.12.2008 |
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Com. Reg. No.: |
08-048560 |
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Capital
Investment / Paid-up Capital : |
INR 34.579 Million |
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CIN No.: [Company Identification
No.] |
U72200KA2008PTC048560 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACW8310Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is in the business of distribution of Information Management and Unified Communication -Products, Solutions and Services i.e., Information Security, Storage Management, Networking, Enterprise Mobility and Services. [Registered Activity] |
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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 : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 1700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2008 having
good track. For the financial year ended 2017, the company has witnessed a growth
in its revenue and has achieved fair profit margin at 1.38% (approx.) The company possesses sound financial profile marked by healthy
networth base along with comfortable debt level and favourable gap between
trade payables to its trade receivables. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. In view of the aforesaid, the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating= BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
05.01.2018 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Rating= A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
05.01.2018 |
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 01.03.2018
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 (91-80-41265151)
LOCATIONS
|
Registered / Corporate Office : |
“Inflow House”, No. 33
and 34, Indiranagar, 1st Stage, Off 100 Ft Road, Bangalore - 560038,
Karnataka, India |
|
Tel. No.: |
91-80-41265151 |
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Mobile No.: |
91-8884021321 [Mr. Krishna] |
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Fax No.: |
91-80-41265152 |
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E-Mail : |
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Website : |
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Branch Offices : |
Located at: · Ahmedabad · Bangalore · Bulandshahr · Chennai · Gurgaon · Guwahati · Hyderabad · Jaipur · Kochi · Kolkata · Mumbai · New Delhi · Pondicherry · Pune · Sri Lanka ·
Singapore |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Anal Kumar Jain |
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Designation : |
Director |
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Address : |
12, 3A Cross, Domlur Second Stage, Bangalore – 560071, Karnataka,
India |
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Date of Birth/Age : |
26.06.1945 |
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Qualification : |
Graduate |
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Date of Appointment : |
18.05.2005 |
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PAN No.: |
AAMPJ2744E |
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DIN No.: |
01239653 |
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Other Directorship:
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Name : |
Byju Pillai |
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Designation : |
Director |
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Address : |
No. 217, Trinity Meadows, Off Sarjapur Road, Bellandur, Bangalore –
560037, Karnataka, India |
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Date of Birth/Age : |
23.06.1967 |
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Qualification : |
Engineer in E & C |
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Date of Appointment : |
10.12.2008 |
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PAN No.: |
ACKPB4501F |
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DIN No.: |
01240455 |
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Other Directorship:
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Name : |
Mr. Aditya Madhok |
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Designation : |
Director |
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Address : |
17, Cairnhill Circle Unit 05-07 Singapore 229816 |
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Date of Appointment : |
29.09.2016 |
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DIN No.: |
07477754 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Byju Pillai |
|
593932 |
|
C. K. Krishna Kumar |
|
26887 |
|
Supriya Menon |
|
26887 |
|
Dinesh Kumar A.G. |
|
23486 |
|
Gopal K. Kaul |
|
26233 |
|
Shaifali Kaul |
|
26233 |
|
Najeebunnisa |
|
232683 |
|
Pradeepan V. |
|
104195 |
|
Rajesh Kumar |
|
236449 |
|
Rajiv U. |
|
157443 |
|
Sunita Madhok |
|
570526 |
|
Santosh Sankunny |
|
182825 |
|
Soumit Bhattacharya |
|
152236 |
|
Umesh Menon |
|
240314 |
|
Vijay G. |
|
214232 |
|
Devjani Pillai |
|
206331 |
|
Pritanjali Nag |
|
84313 |
|
Rajeev Nair |
|
11411 |
|
Sudhir Kant |
|
20986 |
|
Anal Jain |
|
150708 |
|
Anjali Deshpande |
|
42581 |
|
Budhadev Parida |
|
2175 |
|
C.K. Krishna Kumar |
|
31587 |
|
Supriya Menon |
|
31587 |
|
Gopal K. Kaul |
|
30819 |
|
Shaifali Kaul |
|
30819 |
|
|
|
|
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Total |
|
3457878 |
Equity Share Break up (Percentage of Total Equity)
AS ON 21.08.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
28.39 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
71.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of distribution of Information Management and Unified Communication -Products, Solutions and Services i.e., Information Security, Storage Management, Networking, Enterprise Mobility and Services. [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 : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore – 560025, Karnataka, India |
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PAN No.: |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company
: |
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CAPITAL STRUCTURE
AS ON 21.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
INR 10/- each |
INR 55.000 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3457878 |
Equity Shares |
INR 10/- each |
INR 34.579 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
34.579 |
34.579 |
34.579 |
|
(b) Reserves & Surplus |
551.723 |
434.616 |
285.990 |
|
(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) |
586.302 |
469.195 |
320.569 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3.787 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3.787 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
603.660 |
515.417 |
200.692 |
|
(b) Trade
payables |
1450.134 |
942.931 |
753.528 |
|
(c) Other
current liabilities |
165.701 |
77.281 |
141.707 |
|
(d) Short-term
provisions |
0.000 |
0.811 |
0.496 |
|
Total Current
Liabilities (4) |
2219.495 |
1536.440 |
1096.423 |
|
|
|
|
|
|
TOTAL |
2809.584 |
2005.635 |
1416.992 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
28.513 |
16.689 |
13.615 |
|
(ii)
Intangible Assets |
3.460 |
2.561 |
4.167 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
131.712 |
131.712 |
131.712 |
|
(c) Deferred tax assets (net) |
23.027 |
24.395 |
36.523 |
|
(d)
Long-term Loan and Advances |
96.660 |
91.540 |
65.994 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
283.372 |
266.897 |
252.011 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
414.341 |
350.001 |
194.855 |
|
(c) Trade
receivables |
1798.986 |
1021.057 |
678.691 |
|
(d) Cash
and cash equivalents |
177.619 |
113.814 |
58.914 |
|
(e)
Short-term loans and advances |
84.071 |
88.558 |
142.948 |
|
(f) Other
current assets |
51.195 |
165.308 |
89.573 |
|
Total Current
Assets |
2526.212 |
1738.738 |
1164.981 |
|
|
|
|
|
|
TOTAL |
2809.584 |
2005.635 |
1416.992 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
8180.256 |
5973.237 |
4017.003 |
|
|
Other Income |
21.182 |
70.565 |
56.896 |
|
|
TOTAL |
8201.438 |
6043.802 |
4073.899 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
7496.613 |
5509.043 |
3580.169 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(64.340) |
(155.146) |
12.854 |
|
|
Employee benefit expense |
195.177 |
154.586 |
130.832 |
|
|
CSR expenditure |
0.605 |
0.230 |
0.000 |
|
|
Other expenses |
161.207 |
118.480 |
102.106 |
|
|
TOTAL |
7789.262 |
5627.193 |
3825.961 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
412.176 |
416.609 |
247.938 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
221.593 |
154.708 |
120.248 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
190.583 |
261.901 |
127.690 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
12.593 |
11.167 |
14.896 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
177.990 |
250.734 |
112.794 |
|
|
|
|
|
|
|
Less |
TAX |
64.367 |
94.218 |
(10.243) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
113.623 |
156.516 |
123.037 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
692.177 |
532.694 |
360.197 |
|
|
TOTAL EARNINGS |
692.177 |
532.694 |
360.197 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
6025.584 |
4719.446 |
3176.997 |
|
|
TOTAL IMPORTS |
6025.584 |
4719.446 |
3176.997 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
32.86 |
45.26 |
35.58 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.923 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
101.859 |
(140.405) |
(31.432) |
|
Net cash flows from (used in) operating activities |
25.888 |
(229.881) |
(31.326) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
80.27 |
62.39 |
61.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.55 |
5.85 |
5.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
70.61 |
62.47 |
76.82 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.99 |
1.19 |
1.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
12.89 |
21.64 |
13.94 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.79 |
0.77 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.04 |
1.10 |
0.63 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.79 |
3.27 |
3.42 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.05 |
0.04 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.86 |
2.69 |
2.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
1.39 |
2.62 |
3.06 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.04 |
7.80 |
8.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
19.38 |
33.36 |
38.38 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.14 |
1.13 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.95 |
0.90 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.21 |
0.23 |
0.23 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
17.59 |
14.91 |
5.80 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.14 |
1.13 |
1.06 |
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 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
34.579 |
34.579 |
34.579 |
|
Reserves & Surplus |
285.990 |
434.616 |
551.723 |
|
Net
worth |
320.569 |
469.195 |
586.302 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
3.787 |
|
Short term borrowings |
200.692 |
515.417 |
603.660 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.923 |
|
Total
borrowings |
200.692 |
515.417 |
608.370 |
|
Debt/Equity
ratio |
0.626 |
1.099 |
1.038 |
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 |
4017.003 |
5973.237 |
8180.256 |
|
|
|
48.699 |
36.948 |
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 |
4017.003 |
5973.237 |
8180.256 |
|
Profit/ (Loss) |
123.037 |
156.516 |
113.623 |
|
|
3.06
% |
2.62
% |
1.39
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
34.579 |
34.579 |
|
(b) Reserves and Surplus |
|
512.012 |
349.523 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
546.591 |
384.102 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
126.404 |
172.594 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
126.404 |
172.594 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
736.230 |
558.341 |
|
(b) Trade payables |
|
1838.143 |
1326.511 |
|
(c) Other
current liabilities |
|
218.162 |
83.113 |
|
(d) Short-term
provisions |
|
0.000 |
0.811 |
|
Total Current
Liabilities (4) |
|
2792.535 |
1968.776 |
|
|
|
|
|
|
TOTAL |
|
3465.530 |
2525.472 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
28.530 |
16.703 |
|
(ii)
Intangible Assets |
|
3.460 |
2.561 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
23.027 |
24.395 |
|
(d)
Long-term loans and advances |
|
97.205 |
92.102 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
152.222 |
135.761 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
495.942 |
439.472 |
|
(c) Trade
receivables |
|
2258.459 |
1512.034 |
|
(d) Cash and
bank balances |
|
350.961 |
163.396 |
|
(e)
Short-term loans and advances |
|
101.721 |
88.558 |
|
(f) Other
current assets |
|
106.224 |
186.251 |
|
Total
Current Assets |
|
3313.307 |
2389.711 |
|
|
|
|
|
|
TOTAL |
|
3465.529 |
2525.472 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
10455.979 |
8042.525 |
|
|
Other Income |
|
21.525 |
71.946 |
|
|
TOTAL |
|
10477.504 |
8114.471 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
9632.067 |
7403.540 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(58.486) |
(72.484) |
|
|
Employee benefit expense |
|
200.220 |
162.446 |
|
|
CSR expenditure |
|
0.605 |
0.230 |
|
|
Other expenses |
|
222.403 |
171.780 |
|
|
TOTAL |
|
9996.809 |
7665.512 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
480.695 |
448.959 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
236.830 |
160.374 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
243.865 |
288.585 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
12.681 |
11.275 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
231.184 |
277.310 |
|
|
|
|
|
|
|
Less |
TAX |
|
72.179 |
96.798 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
159.005 |
180.512 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
45.98 |
52.20 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company, headquartered in Bangalore was incorporated as Westcon (India) Private Limited in 2008 as a wholly owned subsidiary of Inflow Technologies Private Limited (Erstwhile) ('the Holding Company). With effect from 1st April 2014, in terms of the Scheme of Arrangement (the Scheme),the Holding Company has been merged with the Company, upon which the undertaking and the entire business, including all assets and liabilities were transferred to and vested in the Company. The Company is in the business of distribution of Information Management and Unified Communication -Products, Solutions and Services i.e., Information Security, Storage Management, Networking, Enterprise Mobility and Services.
PERFORMANCE REVIEW
The current financial year was the company’s Ninth year of operations. In these nine years, the company continues to address the growing needs of organizations in managing information more effectively and efficiently and strives to be the leading IT Infrastructure Distribution and Services Company.
· They are very happy to announce that we have sailed through successfully the thousand crore turnover mark at their Group level.
· The total market size of technology areas that company focuses is around USD 2.3 Billon or INR 15,000 Crore and this market is growing at a CAGR of around 16%. Your company has posted a healthy growth rate of 30% (at group level).
· During the year, the Company has signed up with new Vendors viz., Dlink, Unify, Paloalto, Cyberark and Carbon black. Also signed up as CISCO authorised training/learning partner.
· Company has continued to focus on 5 main technology areas which include Information Security, Networking & Unified Communication, Storage & Software, Electronic Security, AIDC & POS products & Related Services. Across these areas company has direct relationship with more than 40 Global technology vendors. During the year Company did business through 1300+ Channel partners which includes 42 Strategic Accounts, 250 Enterprise & Commercial partners and 1000+ SME Partners.
During the year the
Company has received following awards:
|
VENDORS |
AWARDS |
|
CISCO |
Value Added Distributor for India |
|
Zebra |
Best Distributors |
|
HID Pack |
Growth Distributor |
|
A10 Networks |
Special recognition |
|
Plantronics |
Wireless Champion |
|
Force point |
Best Distributors |
|
CISCO |
Best Scaling Distributor for Security |
THE STATE OF THE COMPANY’S AFFAIRS:
Financial Statement of the company has been prepared on standalone basis as prescribed in Rule 8(1) of the Companies Accounts Rules, 2014. During the year, the Company reported a net Profit of INR 113.623 million (Previous Year INR 156.516 million). The steps are being taken to improve the performance of the company during the current financial year. The Consolidated financial statement is also prepared by the Company.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G77439271 |
100155849 |
HDFC BANK LIMITED |
28/01/2018 |
- |
- |
150000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
G66491911 |
100136194 |
AXIS BANK LIMITED |
05/09/2017 |
- |
- |
1750000.0 |
#8,SONA TOWER ,32ND 'E' CROSS4TH 'T' BLOCK ,JAYNAGARBANGALOREKA560041IN |
|
3 |
G67195230 |
100136283 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
19/06/2017 |
- |
- |
3000000.0 |
UNIT 202, 2ND FLOOR, CAMPUS 3B,RMZ MILLENNIABUSINESS PARK, NO.143, DR. M.G.R.ROAD,PERUNGUDICHENNAITA600096IN |
|
4 |
G68944420 |
100138006 |
AXIS BANK LIMITED |
24/03/2017 |
- |
- |
1374000.0 |
# 8 SONA TOWER, 32ND 'E' CROSS,4TH 'T' BLOCK, JAYANAGARBANGALOREKA560041IN |
|
5 |
G52362118 |
100120430 |
KOTAK MAHINDRA PRIME LIMITED |
11/01/2017 |
- |
- |
2500000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
6 |
G12752994 |
100051657 |
DBS BANK LTD |
31/05/2016 |
- |
- |
150000000.0 |
NO.3, SALARPURIA WINDSORULSOOR ROADBANGALURUKA 560042IN |
|
7 |
G76461334 |
10614548 |
IDFC BANK LIMITED |
24/12/2015 |
24/01/2018 |
- |
400000000.0 |
KRM TOWER, 7TH FLOOR, NO. 1,HARRINGTON ROAD, CHETPET, CHENNAITA 600031IN |
|
8 |
G33082983 |
10602249 |
STANDARD CHARTERED BANK |
16/11/2015 |
16/12/2016 |
- |
300000000.0 |
NO. 112, SERENITY, 3RD FLOOR, EAST WING,KORAMANGALA INDUSTRIAL AREA, 5TH BLOCKBANGALOREKA 560095IN |
|
9 |
C45867835 |
10536814 |
HDFC BANK LIMITED |
31/07/2014 |
24/02/2015 |
- |
200000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
10 |
G71554901 |
10489966 |
SBI GLOBAL FACTORS LIMITED |
18/03/2014 |
08/12/2017 |
- |
350000000.0 |
6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLACOMPLEX, BANDRA (EAST) MUMBAIMA400051IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 65.23 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.