Key Rating Drivers & Detailed Description

Strength:

• Extensive experience of the promoters:

Founder director Mr. Rangacharya is a post-graduate from the Indian Institute of Technology, Chennai, and has extensive experience in software development, computer-aided design (CAD), and marketing. He has expertise in workflow design and process re-engineering, an essential requirement for the ITES industry. Mrs Nallani Padmaja, the executive director and co-founder, handles the administrative and financial affairs.

Weaknesses:

• Modest scale of operations and exposure to intense competition:

Scale of operations is expected to remain small with revenue estimated to remain about Rs 75 crore in fiscal 2022. Intense competition will continue to constrain revenue growth and pricing flexibility over the medium term.

• Moderate financial risk profile:

Financial risk profile is expected to remain moderate with modest tangible networth and gearing ratios of Rs 22 crore and 0.84 time estimated as on March 31, 2022. However, debt protection metrics may continue to remain under pressure due to subdued profitability margin.

Key Financial Indicators (Consolidated):

Annexure - Details of Instrument(s)

Annexure – List of entities consolidated

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