|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509541 |
|
Report Date : |
17.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
WHIZWORKS |
|
|
|
|
Registered
Office : |
FF-19, Parsavnath City Mall, Sector-12, Mathura Road,
Faridabad-121007, Haryana |
|
Tel No.: |
91-124-6588842 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
Not Divulged |
|
|
|
|
Capital
Investment : |
INR 1.335 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners
[Confirmed by Management] |
|
|
|
|
Line of Business
: |
Providing IT Infrastructure and Data Center Services. [Confirmed by
Management] |
|
|
|
|
No. of Employees
: |
11 [Approximately] [As per site visit] |
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 10000 [INR 677250.00] |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Mr. Brijesh (Office Executive) confirmed that the subject is a partnership concern and it is engaged in providing IT infrastructure and data centre services.
Rating takes into consideration, the fair financial risk profile marked by acceptable capital base.
In view of aforesaid, the concern can be considered for business dealing at usual trade terms and conditions. Note: Site visit was conducted the given address and our executive had successfully traced the subject.
As per our executive observation, it’s a ground+2 Floor building and subject is situated on all the floors. Location was easy to find, locality seems to be residential and area near the premise building appears to be upmarket. Landmark: Vaticak Park. Further our executive had sighted telephone, fax machine, telex, office equipment, air conditioner as well as sighted the name board of the subject on the given address. |
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 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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 17.05.2018
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 BY
|
Name : |
Mr. Brijesh |
|
Designation : |
Office Executive |
|
Contact No.: |
91-9015072268 |
|
Date : |
16.05.2018 |
LOCATIONS
|
Registered Office : |
FF-19, Parsavnath City Mall, Sector-12, Mathura Road,
Faridabad-121007, Haryana, India |
|
Tel. No.: |
91-124-6588842 |
|
Mobile No.: |
91-9015072268 [Mr. Brijesh] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Unit 140, 1st Floor, Vipul Trade Centre, Sohna Road, Sector
48, Gurgram-122001, Haryana, India |
|
Locality: |
Residential [As per site visit] |
PARTNERS [CONFIRMED BY
MANAGEMENT]
|
Name : |
Ms. Asha Yadav |
|
Designation : |
Partner |
|
Date of Birth : |
09.07.1988 |
|
PAN No.: |
AFVPY0310D |
|
|
|
|
Name : |
Mr. Santosh Das |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Brijesh |
|
Designation : |
Office Executive |
BUSINESS DETAILS
|
Line of Business : |
Providing IT Infrastructure and Data Center Services. [Confirmed by
Management] |
|
|
|
|
Products/ Services : |
IT Infrastructure and Data Center Services |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
11 [Approximately] [As per site visit] |
||||||||||||||||||||||
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||||||||||||||||||||||
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Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Mukesh Baldev and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
|
Capital Investment : |
|
|
Owned : |
INR 1.335 Million |
|
Borrowed : |
-- |
|
Total : |
INR 1.335
Million |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
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 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Partners
Capital |
|
1.335 |
1.335 |
|
(b) Reserves & Surplus |
|
2.416 |
(0.079) |
|
Total
Shareholders’ Funds (1) + (2) |
|
3.751 |
1.256 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.711 |
0.000 |
|
(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) |
|
0.711 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
15.825 |
0.108 |
|
(c)
Other current liabilities |
|
2.564 |
0.345 |
|
(d)
Short-term provisions |
|
2.292 |
0.179 |
|
Total
Current Liabilities (4) |
|
20.681 |
0.632 |
|
|
|
|
|
|
TOTAL |
|
25.143 |
1.888 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1.717 |
0.462 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(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 |
|
0.000 |
0.000 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1.717 |
0.462 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3.300 |
0.000 |
|
(c)
Trade receivables |
|
4.846 |
0.160 |
|
(d)
Cash and cash equivalents |
|
12.824 |
1.101 |
|
(e)
Short-term loans and advances |
|
2.456 |
0.165 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
23.426 |
1.426 |
|
|
|
|
|
|
TOTAL |
|
25.143 |
1.888 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
39.665 |
5.049 |
|
|
|
Other Income |
|
0.263 |
0.000 |
|
|
|
TOTAL |
|
39.928 |
5.049 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
27.786 |
2.431 |
|
|
|
Employees benefits expense |
|
1.128 |
0.264 |
|
|
|
Other expenses |
|
1.047 |
0.577 |
|
|
|
Cost of Service |
|
6.056 |
1.594 |
|
|
|
TOTAL |
|
36.017 |
4.866 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
3.911 |
0.183 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.911 |
0.183 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.243 |
0.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
|
3.668 |
0.132 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
1.173 |
0.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
|
2.495 |
0.089 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
44.59 |
11.57 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
8.19 |
31.56 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
207.88 |
16.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
1.19 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
2.28 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
|
0.85 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
0.19 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
5.51 |
0.50 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.46 |
0.37 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
6.29 |
1.76 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
9.92 |
4.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
66.52 |
7.09 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
1.13 |
2.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
0.97 |
2.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.15 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
0.53 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
1.13 |
2.26 |
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 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Partners’ Capital |
1.335 |
1.335 |
|
Reserves & Surplus |
(0.079) |
2.416 |
|
Net
worth |
1.256 |
3.751 |
|
|
|
|
|
Long-term borrowings |
0.000 |
0.711 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.711 |
|
Debt/Equity
ratio |
0.000 |
0.190 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
5.049 |
39.665 |
|
|
|
685.601 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
5.049 |
39.665 |
|
Profit/ (Loss) |
0.089 |
2.495 |
|
|
1.76% |
6.29% |
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 |
Yes |
|
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 |
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 [As per site visit] |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
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 |
OBSERVATION POINTS
|
Name of Company : |
WHIZWORKS |
|
|
|
|
Address : |
Unit 140, 1st Floor, Vipul Trade Centre, Sohna Road, Sector
48, Gurgram-122001, Haryana, India |
|
|
|
|
Date of Visit : |
16.05.2018 |
|
|
|
|
Person to whom we met: |
Mr. Nilesh Kumar [Accounts Department] |
|
|
|
|
Name Board : |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Vaticak Park |
|
|
|
|
Total Floors of the Building : |
Ground + 2 Floors |
|
|
|
|
Subject situated on: |
Whole Premises |
|
|
|
|
Locality: |
Residential |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of employees seen at premises: |
11 [Approximately] |
|
|
|
|
Visibility of
Items: |
·
Telephone ·
Computers ·
Fax Machine ·
Telex ·
Office Equipment’s ·
Air Conditioner |
|
|
|
|
Proof of visit: |
Photos |
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.83 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
RUP |
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 |
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.
·