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|
MIRA INFORM REPORT
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Report No. : |
509763 |
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Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DIRECTI WEB TECHNOLOGY PRIVATE LIMITED |
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|
Registered
Office : |
Unit No. 501, 5th Floor, IT Building 3, Nesco IT Park,
Nesco Complex, Western Express Highway, Goregaon, Mumbai - 400063,
Maharashtra |
|
Tel. No.: |
91-22-67209000/ 61966300 |
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Country : |
India |
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Financials (as on)
: |
31.03.2017 |
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Date of
Incorporation : |
25.01.2012 |
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Com. Reg. No.: |
11-226415 |
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Capital
Investment / Paid-up Capital : |
INR 10.234 Million |
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CIN No.: [Company Identification
No.] |
U72300MH2012PTC226415 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAECD1043M |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of rendering Information Technology (IT) and Information Technology enabled services, which includes providing support services in relation to software development and maintenance, sales and marketing, Other back end support functions such as accounts, administrative and Technical support (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Endurance Singapore Holdings 2 Pte Ltd” and was incorporated in the year 2012. It is having satisfactory track records.
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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 |
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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 21.05.2018
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 (Tel No.: 91-22-61966300)
LOCATIONS
|
Registered Office/ Corporate Office : |
Unit No. 501, 5th Floor, IT Building 3, Nesco IT Park, Nesco
Complex, Western Express Highway, Goregaon, Mumbai - 400063, Maharashtra,
India |
|
Tel. No.: |
91-22-67209000/ 61966300 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Branch Office 1:
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Directiplex, Old Nagardas Road, Andheri (East), Mumbai - 400069, Maharashtra, India |
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Tel. No.: |
91-22-61966300 |
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Branch Office 2: |
UM House, IInd Floor, Plot No. 35, Sector - 44, Gurugram - 122002, Haryana, India |
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Tel. No.: |
91-124 –4113280/82 |
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|
|
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Branch Office 3: |
Directi Internet Solutions Private Limited., BG 15, 7th Floor, Pritech Park Annex, Bellandur Village, Bengalore - 560103, Karnataka, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. David Charles Bryson |
|
Designation : |
Director |
|
Address : |
119 High Street Charlestown Ma 02129 US |
|
Date of Appointment : |
23.01.20014 |
|
DIN No.: |
05314376 |
|
|
|
|
Name : |
Mr. Shashank Mehrotra |
|
Designation : |
Director |
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Address : |
Flat No. 501 5th Floor Harmony Building Rizvi Complex Sherly Rajan Road Bandra (West), Mumbai 400050, Maharashtra, India |
|
Date of Appointment : |
31.03.2014 |
|
DIN No.: |
06435759 |
|
|
|
|
Name : |
Mr. Raviraj Ramesh Parab |
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Designation : |
Director |
|
Address : |
C-7, Blue Sky Co-Operative Society, Kasturba Road No. 5, Opposite Swagat Party Hall, Borivali (East), Mumbai 400066, Maharashtra, India |
|
Date of Appointment : |
21.08.2017 |
|
DIN No.: |
07910443 |
|
|
|
|
Name : |
Marc Roger Montagner |
|
Designation : |
Additional Director |
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Address : |
43 Chestnut Street Boston Masschusetts 02108 Us |
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Date of Appointment : |
26.10.2017 |
|
DIN No.: |
07970133 |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Endurance Singapore Holdings 2 Pte, Limited, Singapore |
|
1023439 |
|
Endurance Web Solutions Private Limited, India |
|
1 |
|
Total |
|
1023440 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of rendering Information Technology (IT) and Information Technology enabled services, which includes providing support services in relation to software development and maintenance, sales and marketing, Other back end support functions such as accounts, administrative and Technical support (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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Auditors : |
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Name : |
MSKA & Associates Chartered Accountants |
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Address : |
Level 9 The Ruby, Senapati Bapat Marg, Dadar (West), Mumbai-400028, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFK3470E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Endurance Singapore Holdings 2 Pte. Limited |
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Ultimate Holding
company : |
Endurance International Group Holding Inc. |
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Subsidiary : |
Directi Services Private Limited CIN No.: U72900MH2012PTC227679 |
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|
Fellow Subsidiary
companies : |
· P.D.R Solution FZC · P.D.R Solutions (U.S.) LLC · Endurance Domains Technology Private Limited · Blue Host Inc. · Hostgator US LLC. · Endurance Group Brasil Hospedagem de Sites Ltda (Brazil) |
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1023440 |
Equity Shares |
INR 10/- each |
INR 10.234 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
10.234 |
10.234 |
3.804 |
|
(b) Reserves & Surplus |
274.473 |
371.229 |
105.887 |
|
(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) |
284.707 |
381.463 |
109.691 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
117.355 |
38.987 |
26.582 |
|
Total
Non-current Liabilities (3) |
117.355 |
38.987 |
26.582 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
149.565 |
78.384 |
14.108 |
|
(c) Other current liabilities |
436.970 |
5.302 |
1.195 |
|
(d) Short-term provisions |
57.280 |
52.345 |
17.687 |
|
Total
Current Liabilities (4) |
643.815 |
136.031 |
32.990 |
|
|
|
|
|
|
TOTAL |
1045.877 |
556.481 |
169.263 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
326.582 |
325.676 |
63.302 |
|
(ii) Intangible Assets |
47.505 |
5.379 |
1.501 |
|
(iii) Capital work-in-progress |
0.121 |
0.018 |
1.825 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
14.710 |
8.621 |
3.651 |
|
(d) Long-term Loan and Advances |
95.941 |
63.122 |
0.800 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
484.959 |
402.916 |
71.179 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
134.629 |
20.600 |
21.483 |
|
(d) Cash and cash equivalents |
33.244 |
33.657 |
37.334 |
|
(e) Short-term loans and
advances |
393.045 |
99.308 |
39.267 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
560.918 |
153.565 |
98.084 |
|
|
|
|
|
|
TOTAL |
1045.877 |
556.481 |
169.263 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1160.141 |
819.169 |
660.332 |
|
|
Other Income |
3.880 |
8.444 |
(1.275) |
|
|
TOTAL
|
1164.021 |
827.613 |
659.057 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Direct Cost |
0.000 |
0.000 |
17.427 |
|
|
Employees benefits expense |
613.518 |
497.731 |
369.784 |
|
|
CSR expenditure |
1.123 |
0.902 |
0.000 |
|
|
Other expenses |
478.598 |
251.113 |
145.902 |
|
|
TOTAL |
1093.239 |
749.746 |
533.113 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
70.782 |
77.867 |
125.944 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.959 |
0.437 |
0.600 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
69.823 |
77.430 |
125.344 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
118.807 |
44.318 |
16.866 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(48.984) |
33.112 |
108.478 |
|
|
|
|
|
|
|
Less |
TAX |
(6.089) |
11.468 |
48.528 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(42.895) |
21.644 |
59.950 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(41.91) |
21.15 |
157.58 |
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 generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
189.208 |
71.455 |
NA |
|
Net cash flows from (used in) operating activities |
160.093 |
50.930 |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
42.36 |
9.18 |
11.87 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.62 |
39.77 |
30.74 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.19 |
0.24 |
1.89 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.62 |
0.24 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
2.26 |
0.36 |
0.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.31 |
0.87 |
0.61 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
73.81 |
178.19 |
209.91 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(3.70) |
2.64 |
9.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(4.10) |
3.89 |
35.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(15.07) |
5.67 |
54.65 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.87 |
1.13 |
2.97 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.87 |
1.13 |
2.97 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.27 |
0.69 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.87 |
1.13 |
2.97 |
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 |
3.804 |
10.234 |
10.234 |
|
Reserves & Surplus |
105.887 |
371.229 |
274.473 |
|
Net
worth |
109.691 |
381.463 |
284.707 |
|
|
|
|
|
|
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 |
660.332 |
819.169 |
1160.141 |
|
|
|
24.054 |
41.624 |
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 |
660.332 |
819.169 |
1160.141 |
|
Profit/ (Loss) |
59.950 |
21.644 |
(42.895) |
|
|
9.08% |
2.64% |
(3.70%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.234 |
10.234 |
|
(b) Reserves & Surplus |
|
276.359 |
372.789 |
|
(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) |
|
286.593 |
383.023 |
|
|
|
|
|
|
(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 |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
117.355 |
38.987 |
|
Total
Non-current Liabilities (3) |
|
117.355 |
38.987 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
204.754 |
128.944 |
|
(c) Other current liabilities |
|
436.995 |
5.363 |
|
(d) Short-term provisions |
|
58.072 |
52.711 |
|
Total
Current Liabilities (4) |
|
699.821 |
187.018 |
|
|
|
|
|
|
TOTAL |
|
1103.769 |
609.028 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
326.582 |
325.676 |
|
(ii) Intangible Assets |
|
47.505 |
5.379 |
|
(iii) Capital work-in-progress |
|
0.121 |
0.018 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
14.710 |
8.621 |
|
(d) Long-term Loan and Advances |
|
95.941 |
63.122 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
484.859 |
402.816 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
134.629 |
20.600 |
|
(d) Cash and cash equivalents |
|
91.127 |
85.982 |
|
(e) Short-term loans and
advances |
|
393.154 |
99.630 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
618.910 |
206.212 |
|
|
|
|
|
|
TOTAL |
|
1103.769 |
609.028 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1161.581 |
820.369 |
|
|
Other Income |
|
3.857 |
8.562 |
|
|
TOTAL
|
|
1165.438 |
828.931 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
|
613.518 |
497.731 |
|
|
Other expenses |
|
479.542 |
251.686 |
|
|
CSR Expenditure |
|
1.123 |
0.902 |
|
|
TOTAL |
|
1094.183 |
750.319 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
71.255 |
78.612 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.964 |
0.531 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
70.291 |
78.081 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
118.807 |
44.319 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
(48.516) |
33.762 |
|
|
|
|
|
|
|
Less |
TAX |
|
(5.947) |
11.653 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
(42.569) |
22.109 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
(41.19) |
30.41 |
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 |
CORPORATE
INFORMATION/BACKGROUND
The Company is a Private Limited company registered under the companies Act 1956 having its registered office at Unit No. 501, 5th Floor, IT Building 3, Nesco IT Park, Nesco Complex, Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India. The Company is wholly owned subsidiary of “Endurance Singapore Holdings 2 Pte. Limited
The Company is engaged in the business of rendering Information Technology (IT) and Information Technology enabled services, which includes providing support services in relation to software development and maintenance, sales and marketing, Other back end support functions such as accounts, administrative and Technical support.
Effective 1st December 2016 Company also started selling Domain names, Hosting Services and other web based services to the reseller and customers.
STATE OF COMPANY’S
AFFAIRS
DWTPL is a private limited company, incorporated under the Indian Companies Act, 1956 on January 25, 2012. DWTPL is 100% held by Endurance Singapore Holdings 2 Pte. Limited, which is an indirect subsidiary of The Endurance International Group Holdings, Inc. DWTPL provides support services in relation to software development, maintenance, system administration, sales and marketing strategy and support, accounts management, human resources and other administrative support services to its associate enterprise P.D.R Solutions FZC. The Company is now also engaged in the business of domain name registration services, hosting services and other web business products.
CHANGE IN NATURE OF
BUSINESS, IF ANY
Customer Relationship Acquisition Agreement with PDR Solutions FZC (“PDR”):
DWTPL entered into a Customer Relationship Acquisition Agreement with PDR which was effective from December 1, 2016, whereby, DWTPL acquired PDR’s customers located in India as set forth in the list provided in the agreement for purchase consideration of $ 745,700/-. With effect from December 1, 2016, the Company is now also engaged in the business of domain name registration services, hosting services and other web business products.
Scheme of Arrangement
between Endurance Web Solutions Private Limited (“EWSPL”) and DWTPL
The Board of Directors of DWTPL in their meeting held on February 16, 2017 had approved the Scheme of Arrangement under section 230 to 232 read with section 52 of the Companies Act, 2013, between EWSPL and DWTPL for the demerger of Hosting Division of EWSPL into DWTPL.
The National Company Law Tribunal (‘NCLT’), Mumbai bench vide its order dated July 5, 2017 has approved the Scheme of Arrangement between EWSPL and DWTPL. The Scheme is effective from August 1, 2017 i.e. the date of filing of the certified copy of the order of NCLT with the Registrar of Companies, Mumbai, Maharashtra. Pursuant to the Scheme, all the assets and liabilities pertaining to the Hosting Division of EWSPL have been transferred to and vested in DWTPL with retrospective effective from the appointed dated i.e. January 1, 2017 at their respective book values appearing in the books of EWSPL. As a consideration for the said demerger, DWTPL would issue 10,006 Equity Share of INR 10/- each, fully paid up, to the shareholders of EWSPL on Record Date to be fixed by DWTPL.
INDEX
OF CHARGES: NO CHARGES EXISTS FOR COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
|
|
|
Bank guarantees |
0.505 |
0.505 |
FIXED ASSETS
- Buildings
- Plant and equipment
- Vehicles
- Office equipment
- Computer equipments
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 67.95 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYTK |
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.