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|
MIRA INFORM REPORT
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Report No. : |
507931 |
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Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
VSERV DIGITAL SERVICES PRIVATE LIMITED [w.e.f. 06.05.2010] |
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Formerly Known
As : |
ITEXT
SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
901, 9th Floor, Vakratund Corporate Park, Vishweshwar
Nagar, Off. Aarey Road, Goregaon (East), Mumbai Bandra Suburban,
Mumbai-400063, Maharashtra |
|
Tel. No.: |
91-22-61231000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
06.09.2007 |
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Com. Reg. No.: |
11-173865 |
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Capital
Investment / Paid-up Capital : |
INR 0.316 Million |
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CIN No.: [Company Identification
No.] |
U72200MH2007PTC173865 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AACCI2198A1ZT |
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TIN 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.] |
AACCI2198A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is a digital advertising and
technology company, enabling advertisers to reach their audiences and publisher
to maximize their revenues. The company promotes itself as a leading global
Mobile Ad network having premium inventory for ad displays on mobile
applications and mobile websites. [Registered Activity] |
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|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2007. It is a digital advertising
and technology company. For the financial year 2017, the company has reported dip in its
revenue by 59.17% as compared to the previous year along with operational
loss. The overall financial profile of the company seems to be average
marked by comfortable net worth base and debt free balance sheet profile. Rating is constrained on account of huge accumulated losses incurred
by the subject. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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 08.05.2018.
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
[Contact No: 91-22-29275746]
LOCATIONS
|
Registered Office : |
9th Floor, Vakratund Corporate Park, Vishweshwar Nagar,
Off. Aarey Road, Goregaon (East), Mumbai Bandra Suburban, Mumbai-400063,
Maharashtra, India |
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Tel. No.: |
91-22-61231000 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Delhi Office : |
Building No.5, Tower C Level 20, DLF Epitiome, Phase III,
DLF Cyber City, Gurugram-122002, Haryana, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Deepak Askaran Khurana |
|
Designation : |
Managing Director |
|
Address : |
1702, Laburnum, Mahindra Gardens, S.V. Road, Goregaon
(West) Mumbai 400062, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1973 |
|
Date of Appointment : |
22.02.2010 |
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DIN No.: |
02250969 |
|
|
|
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Name : |
Mr. Ashay Vinayak Padwal |
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Designation : |
Director |
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Address : |
B-2301, Cosmic Heights, Bhakti Park Anik-Wadala Link Road,
Wadala (East), Mumbai-400037, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1977 |
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Date of Appointment : |
22.02.2010 |
|
DIN No.: |
02402840 |
|
|
|
|
Name : |
Mr. Karan Mohla |
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Designation : |
Director |
|
Address : |
Flat No.802, 8th Flr, Planet Godrej Tower-5, K K Marg,
Byculla West, Mumbai- 400017, Maharashtra, India |
|
Date of Birth/Age : |
17.07.1981 |
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Date of Appointment : |
09.06.2011 |
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DIN No.: |
03547441 |
|
|
|
|
Name : |
Mr. Matthew John Kinsella |
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Designation : |
Nominee Director |
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Address : |
2754 Baker Street San Francisco Ca 94123 Us |
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Date of Appointment : |
18.03.2015 |
|
DIN No.: |
07113546 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Deepak Khurana |
|
6667 |
|
Ashay Padwal |
|
3333 |
|
Ajay Adiseshann |
|
3158 |
|
|
|
|
|
Total |
|
13158 |
|
Names of Equity Shareholders [Series A] |
|
No. of Shares |
|
IDG Ventures India I LLC |
|
105 |
|
|
|
|
|
Total |
|
105 |
|
Names of Equity Shareholders [Series B] |
|
No. of Shares |
|
IDG Ventures India I LLC, U |
|
14 |
|
Epiphany Overseas Ventures |
|
21 |
|
|
|
|
|
Total |
|
35 |
|
Names of Equity Shareholders [Series C] |
|
No. of Shares |
|
IDG Ventures India I LLC |
|
4 |
|
MPOF Mauritius Limited |
|
25 |
|
MAF Mauritius Limited |
|
15 |
|
|
|
|
|
Total |
|
44 |
|
Names of Preference Shareholders [0.0001%
Compulsorily Convertible Non-cumulative preference shares - Series A] |
|
No. of Shares |
|
IDG Ventures India I LLC |
|
10422 |
|
|
|
|
|
Total |
|
10422 |
|
Names of Preference Shareholders [0.0001%
Compulsorily Convertible cumulative preference shares - Series B, fully
paid-up] |
|
No. of Shares |
|
IDG Ventures India I LLC |
|
1390 |
|
Epiphany Overseas Ventures |
|
2084 |
|
|
|
|
|
Total |
|
3474 |
|
Names of Preference Shareholders [0.0001%
Compulsorily Convertible cumulative preference shares - Series C] |
|
No. of Shares |
|
IDG Ventures India I LLC |
|
394 |
|
MPOF Mauritius Limited |
|
2432 |
|
MAF Mauritius Limited |
|
1505 |
|
|
|
|
|
Total |
|
4331 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
74.95 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
23.67 |
|
Public/Other than promoters – Venture capital |
1.38 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is a digital advertising and
technology company, enabling advertisers to reach their audiences and
publisher to maximize their revenues. The company promotes itself as a
leading global Mobile Ad network having premium inventory for ad displays on
mobile applications and mobile websites. [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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 declined by the Management |
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Bankers : |
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Facilities : |
--- |
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Auditors : |
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|
Name : |
B S R and Company LLP Chartered Accountants |
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Address : |
Lodha Excelus, Apollo Mills Compound, Mahalaxmi, Mumbai-400011,
Maharashtra, India |
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Tel. No.: |
91-22-43455300 |
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Fax No.: |
91-22-43455399 |
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PAN No.: |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Wholly owned Subsidiary Company : |
Vserv Digital Services Pte Limited Singapore |
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Control or significant influence over reporting enterprises : |
· IDG Ventures India LLC · Epiphany Overseas Ventures · MDOF Mauritius Limited · MAF Mauritius Limited |
CAPITAL STRUCTURE
AFTER: 29.09.2017
Authorised Capital : INR
5.000 Million
Issued, Subscribed & Paid-up Capital : INR 0.236 Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
463362 |
Equity Shares |
INR 10/- each |
INR 4.634 Million |
|
10527 |
Equity Shares [Series A] |
INR 10/- each |
INR 0.105 Million |
|
3509 |
Equity Shares [Series B] |
INR 10/- each |
INR 0.035 Million |
|
4375 |
Equity Shares [Series C] |
INR 10/- each |
INR 0.044 Million |
|
10422 |
Preference Shares [0.0001% Compulsorily Convertible Non-cumulative
preference shares - Series A] |
INR 10/- each |
INR 0.104 Million |
|
3474 |
Preference Shares [0.0001% Compulsorily Convertible Non-cumulative
preference shares - Series B] |
INR 10/- each |
INR 0.035 Million |
|
4331 |
Preference Shares [0.0001% Compulsorily Convertible Non-cumulative
preference shares - Series C] |
INR 10/- each |
INR 0.043 Million |
|
|
|
|
|
|
|
Total |
|
INR 5.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13158 |
Equity Shares |
INR 10/- each |
INR 0.132 Million |
|
105 |
Equity Shares [Series A] |
INR 10/- each |
INR 0.001 Million |
|
35 |
Equity Shares [Series B] |
INR 10/- each |
INR 0.000 Million |
|
44 |
Equity Shares [Series C] |
INR 10/- each |
INR 0.000 Million |
|
10422 |
Preference Shares [0.0001% Compulsorily Convertible Non-cumulative
preference shares - Series A] |
INR 10/- each |
INR 0.104 Million |
|
3474 |
Preference Shares [0.0001% Compulsorily Convertible Non-cumulative
preference shares - Series B] |
INR 10/- each |
INR 0.035 Million |
|
4331 |
Preference Shares [0.0001% Compulsorily Convertible Non-cumulative
preference shares - Series C] |
INR 10/- each |
INR 0.044 Million |
|
|
|
|
|
|
|
Total |
|
INR 0.316
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 |
0.316 |
0.316 |
0.316 |
|
(b) Reserves & Surplus |
237.993 |
864.912 |
998.822 |
|
(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) |
238.309 |
865.228 |
999.138 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
2.289 |
2.223 |
1.372 |
|
(d)
long-term provisions |
12.445 |
15.340 |
15.078 |
|
Total
Non-current Liabilities (3) |
14.734 |
17.563 |
16.450 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
36.778 |
105.755 |
139.228 |
|
(c)
Other current liabilities |
8.974 |
20.418 |
25.009 |
|
(d)
Short-term provisions |
1.978 |
1.673 |
1.235 |
|
Total
Current Liabilities (4) |
47.730 |
127.846 |
165.472 |
|
|
|
|
|
|
TOTAL |
300.773 |
1010.637 |
1181.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5.301 |
10.626 |
12.800 |
|
(ii)
Intangible Assets |
1.850 |
2.789 |
2.383 |
|
(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 |
0.000 |
369.598 |
121.712 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
28.217 |
25.798 |
14.922 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
35.368 |
408.811 |
151.817 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
181.276 |
417.293 |
660.191 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
32.547 |
117.067 |
310.663 |
|
(d)
Cash and cash equivalents |
4.190 |
32.464 |
47.516 |
|
(e)
Short-term loans and advances |
47.390 |
35.002 |
10.873 |
|
(f)
Other current assets |
0.002 |
0.000 |
0.000 |
|
Total
Current Assets |
265.405 |
601.826 |
1029.243 |
|
|
|
|
|
|
TOTAL |
300.773 |
1010.637 |
1181.060 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
257.141 |
629.707 |
716.605 |
|
|
|
Other Income |
53.345 |
16.268 |
19.090 |
|
|
|
TOTAL |
310.486 |
645.975 |
735.695 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
205.446 |
255.935 |
240.717 |
|
|
|
Other expenses |
79.836 |
139.986 |
112.876 |
|
|
|
Direct operating expenses |
104.559 |
378.235 |
395.781 |
|
|
|
Exceptional Items |
539.064 |
0.000 |
0.000 |
|
|
|
TOTAL |
928.905 |
774.156 |
749.374 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(618.419) |
(128.181) |
(13.679) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.004 |
0.005 |
0.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(618.423) |
(128.186) |
(13.736) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.415 |
9.606 |
9.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(625.838) |
(137.792) |
(23.636) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.098 |
2.038 |
4.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(626.936) |
(139.830) |
(28.472) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales of services |
43.019 |
161.434 |
13.330 |
|
|
|
Royality charges |
10.958 |
20.283 |
48.055 |
|
|
|
Shared service charges |
111.194 |
126.248 |
119.528 |
|
|
|
Server cost (reimbursement of expenses) |
30.221 |
45.724 |
52.227 |
|
|
TOTAL EARNINGS |
195.392 |
353.689 |
233.140 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(46990.00) |
(10480.00) |
(2141.00) |
|
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 (used in) operations |
(131.662) |
(1.781) |
(67.148) |
|
|
|
|
|
|
Net Cash (used in) Operating activities |
(136.502) |
(13.382) |
(67.877) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
46.20 |
67.86 |
158.24 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.90 |
5.38 |
2.31 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
NA |
NA |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(86.48) |
(9.56) |
(0.90) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.16 |
0.13 |
0.14 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.20 |
0.15 |
0.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.03 |
0.02 |
0.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(154604.75) |
(25636.20) |
(239.98) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(243.81) |
(22.21) |
(3.97) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(208.44) |
(13.84) |
(2.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(263.08) |
(16.16) |
(2.85) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
5.56 |
4.71 |
6.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
5.56 |
4.71 |
6.22 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.79 |
0.86 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
5.56 |
4.71 |
6.22 |
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 |
0.316 |
0.316 |
0.316 |
|
Reserves & Surplus |
998.822 |
864.912 |
237.993 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
999.138 |
865.228 |
238.309 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
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 |
716.605 |
629.707 |
257.141 |
|
|
|
(12.126) |
(59.165) |
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 |
716.605 |
629.707 |
257.141 |
|
Profit/ (Loss) |
(28.472) |
(139.830) |
(626.936) |
|
|
(3.97%) |
(22.21%) |
(243.81%) |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.316 |
0.316 |
|
(b) Reserves & Surplus |
|
244.663 |
521.352 |
|
(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) |
|
244.979 |
521.668 |
|
|
|
|
|
|
(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 |
|
2.289 |
2.223 |
|
(d)
long-term provisions |
|
12.445 |
15.340 |
|
Total
Non-current Liabilities (3) |
|
14.734 |
17.563 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
79.013 |
184.562 |
|
(c)
Other current liabilities |
|
26.930 |
34.020 |
|
(d)
Short-term provisions |
|
1.978 |
1.672 |
|
Total
Current Liabilities (4) |
|
107.921 |
220.254 |
|
|
|
|
|
|
TOTAL |
|
367.634 |
759.485 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
5.339 |
10.916 |
|
(ii)
Intangible Assets |
|
1.850 |
2.794 |
|
(iii)
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) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
28.217 |
25.798 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
35.406 |
39.508 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
181.276 |
417.293 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
51.511 |
192.904 |
|
(d)
Cash and cash equivalents |
|
50.461 |
72.994 |
|
(e)
Short-term loans and advances |
|
48.978 |
36.786 |
|
(f)
Other current assets |
|
0.002 |
0.000 |
|
Total
Current Assets |
|
332.228 |
719.977 |
|
|
|
|
|
|
TOTAL |
|
367.634 |
759.485 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
396.446 |
892.696 |
|
|
|
Other Income |
|
47.764 |
12.971 |
|
|
|
TOTAL |
|
444.210 |
905.667 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct operating expenses |
|
322.272 |
674.698 |
|
|
|
Employees benefits expense |
|
210.334 |
268.343 |
|
|
|
Other expenses |
|
178.692 |
255.969 |
|
|
|
TOTAL |
|
711.298 |
1199.010 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
(267.088) |
(293.343) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.004 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(267.092) |
(293.348) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
7.672 |
9.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(274.764) |
(303.326) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
1.942 |
2.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(276.706) |
(305.572) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
(20739.00) |
(22903.00) |
|
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 |
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 |
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 |
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
BACKGROUND:
Subject was incorporated on 6th
September 2007 under the companies Act, 1956 under the name Itext Solution
Private Limited. The name of the company was changed with effect from 6th
May 2010.
The company is a digital advertising and
technology company, enabling advertisers to reach their audiences and publisher
to maximize their revenues. The company promotes itself as a leading global
Mobil Ad network having premium inventory for ad displays on mobile
applications and mobile websites.
STATE OF THE
COMPANY’S AFFAIRS
During the year, the net revenue from operations of the company was INR
257.141 Million. For the financial year 2016-17, the company’s loss after tax
stood at INR 626.936 Million vis-à-vis loss of INR 139.830 Million in the
previous year.
During the year, there were no changes in nature of business of the company.
FIXED ASSETS
Tangible Assets
· Computers
· Furniture and Fixtures
· Office Equipment
· Leasehold Improvements
Intangible Assets
· 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 67.11 |
|
UK Pound |
1 |
INR 90.85 |
|
Euro |
1 |
INR 80.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.