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|
MIRA INFORM REPORT
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Report No. : |
509348 |
|
Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SYMANTEC SOFTWARE INDIA PRIVATE LIMITED (w.e.f. 24.10.2007) |
|
|
|
|
Formerly Known
As : |
VERITAS SOFTWARE INDIA PRIVATE LIMITED |
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Registered
Office : |
0-5 Floor, Wing 1, Cluster B, Plot # 1, Survey # 77, MIDC Knowledge
Park, EON, Kharadi, Pune – 411014, Maharashtra |
|
Tel. No.: |
91-20-67351001/ 66157000/ 46051001 |
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Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
12.09.1995 |
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|
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Com. Reg. No.: |
11-092611 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 318.136
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH1995FTC092611 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
5198001465 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AAACV6015F |
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Tin No.: |
27200307910 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACV6015F1ZK |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Design and development services of software applications including customized and packaged software. (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 : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1995 and is a subsidiary of Symantec Operating Corporation, U.S.A., which stands at 465th position in Fortune 500 list of 2017. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. As per the financial record for the year 2016, the company has reported decline in its revenue but has achieved favorable net profit margin of 35%. The company has favourable Earning Per Share (EPS) of INR 106.40 against the Face Value (FV) of INR 10. The company possesses healthy financial position marked by sound networth base, zero debt balance sheet profile and satisfactory liquidity position. Rating also takes into consideration, long business track record, extensive experience of promoters, established market presence, and strong managerial and financial support that it receives from its holding company.
Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good for business dealings at usual trade terms and condition. |
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
|
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 14.05.2018
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 DENIED
Management non-cooperative (Tel No.: 91-20-66157000)
Given Tel No.: 91-20-67351001 – Ringing
Tel No.: 91-20-66428030 – Does Not Exist
LOCATIONS
|
Registered Office : |
0-5 Floor, Wing 1, Cluster B, Plot # 1, Survey # 77, MIDC Knowledge
Park, EON, Kharadi, Pune – 411014, Maharashtra, India |
|
Tel. No.: |
91-20-67351001/ 66157000/ 46051001 |
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Fax No.: |
91-20-66157709 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
2nd Floor, City Tower, 17, Opposite Ekbote Furniture, Dhole Patil
Road, Pune – 411 001, Maharashtra, India |
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|
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Branch Office 2: |
3rd Floor, Integrated Office, CP Lodhi Road, New Delhi – 110003, India
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sudhanshu Ratnakar Pandit |
|
Designation : |
Whole-time Director |
|
Address : |
702, Pride Paradise,1041/458 Model Colony, Shivajinagar, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1975 |
|
Date of Appointment : |
23.09.2015 |
|
PAN No.: |
AAQPP9413Q |
|
DIN No.: |
07273513 |
|
|
|
|
Name : |
Ajay Saluja |
|
Designation : |
Additional Director |
|
Address : |
802, Sapodila, Marigold, Kalyani Nagar, Pune- 411014, Maharashtra, India |
|
Date of Appointment : |
19.04.2018 |
|
DIN No.: |
08109398 |
|
|
|
|
Name : |
Ms. Eunice Jeeyoon Kim |
|
Designation : |
Director |
|
Address : |
1353, Don Kirk St. California Los Altos 940246120 Us |
|
Date of Birth/Age : |
11.07.1973 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
04.03.2014 |
|
DIN No.: |
02673925 |
KEY EXECUTIVES
|
Name : |
Mr. Rangnath Govind Khanolkar |
|
Designation : |
Company Secretary |
|
Address : |
D-401, Odyssey A, B, C, D CHS, Majiwada Village Road, Lodha Paradise, Thane (West), Thane – 400601, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1983 |
|
Qualification : |
B. Com CS |
|
Date of Appointment : |
04.03.2014 |
|
PAN No.: |
APDPK3649F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.12.2016
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Symantec Corporation, United States of America |
8640096 |
27.16 |
|
Symantec Operating Corporation, United States of America |
23173478 |
72.84 |
|
Total |
31813574 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.12.2016
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Design and development services of software applications including customized and packaged software. (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 declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
703, 7th Floor, Bund Garden Road, Pune, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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|
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Memberships : |
-- |
|
|
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|
Collaborators : |
-- |
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Holding Company : |
Symantec Operating Corporation, United States of America |
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|
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Subsidiary Company
: |
Symantec Software Solutions Private Limited CIN No.: U72200TN2007PTC062278 |
CAPITAL STRUCTURE
As on 29.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83050000 |
Equity Shares |
INR 10/- each |
INR 830.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31813574 |
Equity Shares |
INR 10/- each |
INR 318.136
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
318.136 |
318.136 |
317.734 |
|
(b) Reserves and Surplus |
4230.669 |
7093.242 |
6264.961 |
|
(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) |
4548.805 |
7411.378 |
6582.695 |
|
|
|
|
|
|
(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 |
107.754 |
161.339 |
108.321 |
|
(d) long-term
provisions |
265.920 |
698.280 |
538.419 |
|
Total Non-current
Liabilities (3) |
373.674 |
859.619 |
646.740 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
237.733 |
246.548 |
346.810 |
|
(c) Other
current liabilities |
2188.025 |
2319.070 |
1622.447 |
|
(d) Short-term
provisions |
29.711 |
42.908 |
38.250 |
|
Total Current
Liabilities (4) |
2455.469 |
2608.526 |
2007.507 |
|
|
|
|
|
|
TOTAL |
7377.948 |
10879.523 |
9236.942 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1736.120 |
3420.839 |
3450.710 |
|
(ii)
Intangible Assets |
8.695 |
23.860 |
27.090 |
|
(iii) Tangible assets
capital work-in-progress |
20.597 |
331.108 |
282.072 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.213 |
0.050 |
0.050 |
|
(c) Deferred tax assets (net) |
344.400 |
237.100 |
179.699 |
|
(d)
Long-term loans and advances |
428.325 |
764.783 |
657.629 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2538.350 |
4777.740 |
4597.250 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
569.899 |
2404.684 |
1422.492 |
|
(d) Cash and
bank balances |
3789.048 |
3096.686 |
552.708 |
|
(e) Short-term
loans and advances |
269.231 |
440.121 |
1459.682 |
|
(f) Other
current assets |
211.420 |
160.292 |
1204.810 |
|
Total
Current Assets |
4839.598 |
6101.783 |
4639.692 |
|
|
|
|
|
|
TOTAL |
7377.948 |
10879.523 |
9236.942 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
9420.963 |
10515.512 |
9628.024 |
|
|
Other Income |
340.271 |
375.252 |
88.973 |
|
|
TOTAL |
9761.234 |
10890.764 |
9716.997 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
5148.342 |
5647.476 |
5136.048 |
|
|
CSR expenditure |
23.150 |
0.000 |
0.000 |
|
|
Other expenses |
2025.847 |
2584.114 |
2296.412 |
|
|
Exceptional items |
(3263.890) |
0.000 |
0.000 |
|
|
TOTAL |
3933.449 |
8231.590 |
7432.460 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
5827.785 |
2659.174 |
2284.537 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5827.785 |
2659.174 |
2284.537 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1138.463 |
1405.438 |
1114.078 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4689.322 |
1253.736 |
1170.459 |
|
|
|
|
|
|
|
Less |
TAX |
1304.374 |
424.826 |
404.593 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3384.948 |
828.910 |
765.866 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
106.40 |
26.07 |
24.10 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
5041.437 |
3788.920 |
1551.409 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
22.08 |
83.47 |
53.93 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
16.53 |
4.37 |
6.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
3.30 |
0.70 |
0.61 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.33 |
0.24 |
0.22 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.54 |
0.35 |
0.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.39 |
0.51 |
0.57 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
35.93 |
7.88 |
7.95 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
45.88 |
7.62 |
8.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
74.41 |
11.18 |
11.63 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.97 |
2.34 |
2.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.97 |
2.34 |
2.31 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.62 |
0.68 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.97 |
2.34 |
2.31 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
317.734 |
318.136 |
318.136 |
|
Reserves & Surplus |
6264.961 |
7093.242 |
4230.669 |
|
Net
worth |
6582.695 |
7411.378 |
4548.805 |
|
|
|
|
|
|
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9628.024 |
10515.512 |
9420.963 |
|
|
|
9.218 |
(10.409) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9628.024 |
10515.512 |
9420.963 |
|
Profit /(Loss) |
765.866 |
828.910 |
3384.948 |
|
|
7.95% |
7.88% |
35.93% |
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 |
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) |
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 |
CHANGE IN NATURE OF BUSINESS
The Company continues to carry on its primary business of carrying out the business of operating the research and product development centers and providing technical support and consulting services for the Symantec group. In addition, the Company also commenced the business of operating shared services centers for the Symantec group. However, the Company now operates only in the field of “Enterprise Security” software and services, given that the erstwhile “Information Management” business was sold to VSTIPL.
STATE OF COMPANY’S
AFFAIRS
During FY16, the Company has earned a total income of INR 9761.234 Million as compared to INR 10890.764 Million in the previous year. The primary reason for the drop in the Company’s income is the sale of the Company’s erstwhile “Information Management” business. The Company has earned a net profit after tax of INR 3384.948 Million as against a net profit after tax of INR 828.910 Million in the previous year.
The sale of Information Management business during FY16 resulted in a pre-tax profit of INR 3263.890 Million which has, among other things, contributed to the growth in net profit after tax.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Satisfaction |
Amount |
Address |
|
1 |
A28163962 |
90085276 |
IDBI BANK LIMITED |
28/01/2000 |
10/12/2007 |
150000.0 |
IDBI HOUSE DNYANESHWAR PADUKA CHOWK; F.C. ROAD PUNE MAHARASHTRA 411004 INDIA |
FIXED ASSETS
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Leasehold improvements
·
Goodwill
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 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 67.22 |
|
UK Pound |
1 |
INR 90.87 |
|
Euro |
1 |
INR 80.08 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHW |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.