About Idhasoft Limited
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Idhasoft Limited is a public limited company based in Mumbai, Maharashtra, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the IT products retail and distribution segment of the technology and IT services sector. It was incorporated on 21 December 2006.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U72200MH2006PLC166403. The company has 7 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹112.5 Cr and a paid-up capital of ₹105.21 Cr. It was formerly known as Idha Software Consultancy Private Limited and Idhasoft Private Limited. It is led by directors including Ajay Maruti Zore and Bhagwan Amichand Singh.
Its last annual general meeting (AGM) was held on 30 September 2015, and its latest financial statements are for the year ended 31 March 2015. The registered office is at Bsel Techpark 4th Floor Room No. 407 Opposite Vashi Station Navi Mumbai, Maharashtra, India – 400703.
As per the financials filed for FY 2015, the company reported a revenue of ₹56.39 Cr, a decline of 21% compared to the previous year. For the same year it recorded a net loss of ₹14.58 Lakh (net margin -0.3%) and EBITDA of ₹4.42 Cr (EBITDA margin 7.8%). Revenue has declined at a compounded annual rate (CAGR) of 48% over three years.
The company is associated with 2 brands: Idhasoft and Grey Matter India. As per MCA filings, the company has open charges of ₹49.8 Cr and satisfied charges of ₹88.28 Lakh on record. Court records list 7 cases involving the company, including 1 filed by the company and 6 filed against it; 3 cases are pending. The company has 3 deals on record (2 acquisitions, 1 funding round), with disclosed funding of ₹127.47 Cr; the latest was in March 2015.
The last known website on record is idhasoft.com.
Company details
Name history
Idhasoft has undergone 2 name changes throughout its history. The company was previously known as Idha Software Consultancy Private Limited, and Idhasoft Private Limited. The current legal name is Idhasoft Limited.
| Company Name | Status |
|---|---|
| Idhasoft Limited | Current |
| Idha Software Consultancy Private Limited | Previous |
| Idhasoft Private Limited | Previous |
CIN history
Idhasoft has one previous CIN (Corporate Identification Number): U72200MH2006PTC166403. The current CIN is U72200MH2006PLC166403, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72200MH2006PLC166403 | Current |
| U72200MH2006PTC166403 | Previous |
Contact details
Idhasoft Limited's registered office is in Mumbai, Maharashtra. Its website is idhasoft.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressBsel Techpark 4th Floor Room No. 407 Opposite Vashi Station Navi Mumbai, Maharashtra, India – 400703
- IndustryInformation Technology, IT Products Retail & Distribution, IT Consulting & Support Services
To see the full contact details of Idhasoft Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Idhasoft operates two associated brands: Idhasoft and Grey Matter India. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Enterprise solutions for finance, heath care, insurance and manufacturing | idhasoft.com | |
| Web and mobile applications are developed by Grey Matter India. | greymatterindia.com |
Business activity
The main business activity of Idhasoft is information and communication. In detail, this covers other information & communication service activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Idhasoft Limited, buy the company report.
Financials of Idhasoft Limited
FY 2015 filings availableIdhasoft Limited reported revenue of ₹56.39 Cr (down 21% YoY) for FY 2015.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 48% over three years, including a 21% fall in the latest year. EBITDA fell 48% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2014-15 |
|---|---|
| Profit and Loss Statement | |
| Revenue from Operations | |
| Other Income | |
| Total Revenue | ₹56.39 Cr |
| Cost of Materials Consumed | |
| Employee Benefit Expense | |
| Finance Costs | |
| Depreciation and Amortisation | |
| Other Expenses | |
| Total Expenses | |
| EBITDA | ₹4.42 Cr |
| Profit Before Tax | |
| Tax Expense | |
| Net Profit (PAT) | -₹14.58 Lakh |
| Balance Sheet | |
| Share Capital | |
| Reserves and Surplus | |
| Net Worth (Total Equity) | |
| Long-term Borrowings | |
| Short-term Borrowings | |
| Trade Payables | |
| Total Liabilities | |
| Fixed Assets | |
| Investments | |
| Inventories | |
| Trade Receivables | |
| Cash and Bank Balance | |
| Total Assets | |
Financial Ratios
| Metrics | FY 2014-15 |
|---|---|
| Profitability | |
| EBITDA Margin | 7.8% |
| Net Profit Margin | -0.3% |
| Return on Equity (ROE) | |
| Return on Capital Employed (ROCE) | |
| Return on Assets (ROA) | |
| Liquidity and Debt | |
| Current Ratio | |
| Quick Ratio | |
| Debt-to-Equity Ratio | |
| Interest Coverage Ratio | |
| Efficiency and Growth | |
| Asset Turnover | |
| Receivable Days | |
| Payable Days | |
| Inventory Days | |
| Revenue Growth | |
| Net Profit Growth | |
To see the full financial statements and ratios of Idhasoft Limited, buy the company report.
Board of directors of Idhasoft Limited
Idhasoft has 3 current directors and 25 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ajay Maruti Zore | Additional Director | 08 Sep 2015 | 11 Years 2 Months | As last reported |
| Bhagwan Amichand Singh Also directs: Topsoil Developers Private Limited | Additional Director | 08 Sep 2015 | 11 Years 2 Months | As last reported |
| Tushar Subodh Shah | Additional Director | 19 Oct 2018 | 8 Years 0 Months | As last reported |
Auditor
Idhasoft Limited is audited by Bathiya & Associates LLP for the financial year 2015.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Bathiya & Associates LLP | FY 2015 | 101046W/W100063 |
Shareholding
The shareholding of Idhasoft Limited is on record for FY 2015, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2015 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Public | |
| Others |
To see the full shareholding pattern of Idhasoft Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Feb 2011 | 10280689 | Axis Bank Limited | ₹14.8 Cr | Open | |
| 30 Dec 2009 | 10193402 | 3I Infotech Trusteeship Services Limited | ₹20 Cr | Open | |
| 31 Jul 2008 | 10123508 | Axis Bank Limited | ₹15 Cr | Open | |
| 05 Sep 2011 | 10307511 | Srei Equipment Finance Private Limited | ₹18.46 Lakh | Satisfied | |
| 11 Apr 2011 | 10285899 | Srei Equipment Finance Private Limited | ₹60.03 Lakh | Satisfied |
To see the full charge records of Idhasoft Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Idhasoft Limited has 3 deals on record (2 acquisitions, 1 funding round), with disclosed funding of ₹127.47 Cr; the latest was in March 2015.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2015 | Acquisition | Undisclosed | Buyer: DSR Infotech Limited |
| Aug 2011 | Acquisition | Undisclosed | Buyer: Prism Informatics Limited |
| Jul 2008 | Funding round | ₹127.47 Cr | Investors: Arcapita |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Idhasoft Limited has 7 court cases on record: 1 filed by Idhasoft, 6 filed against it. 3 cases are pending and 4 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5 | 4 | 2 |
| High courts | 2 | 2 | 1 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Arbitration matter | Filed against the company by Prism Informatics Ltd | Disposed |
| Bombay High Court | Tax appeal | Filed against the company by PR. Commissioner of Income-Tax-15 | Pending |
| District court, Thane, Maharashtra | Civil suit | Filed against the company by an individual | Pending |
| District court, Gurugram, Haryana | Court case (APP) | Filed against the company by an individual | Disposed |
| District court, Gurugram, Haryana | Civil suit | Filed against the company by an individual | Disposed |
To see the full case history of Idhasoft Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Idhasoft Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Idhasoft has 7 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Idhasoft Limited, buy the company report.
Recent activity
Idhasoft Limited has 26 board changes on record since 2007: 3 appointments and 23 cessations. The latest: Akhanda Pratap Singh ceased to be Additional Director on 19 Oct 2018.
29 earlier events are in the company report.
News
Frequently asked questions
Idhasoft is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Idhasoft is a company under liquidation, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in IT products retail and distribution, within the information technology industry. It was incorporated on 21 December 2006 and is registered under CIN U72200MH2006PLC166403. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Idhasoft has 3 current directors:
- Ajay Maruti Zore - Additional Director
- Bhagwan Amichand Singh - Additional Director
- Tushar Subodh Shah - Additional Director
The latest financial statements of Idhasoft on record with the MCA are for the year ended 31 March 2015. Its last annual general meeting was held on 30 September 2015. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Idhasoft is U72200MH2006PLC166403. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Idhasoft has open charges of ₹49.8 Cr and satisfied charges of ₹88.28 Lakh as per latest MCA filings.
Idhasoft has 7 court cases on record: 1 filed by the company and 6 filed against it. 3 are pending. Most are in the district courts.
Idhasoft was incorporated on 21 December 2006. It is registered with the Registrar of Companies, Mumbai.
Idhasoft has 3 deals on record (2 acquisitions, 1 funding round), with disclosed funding of ₹127.47 Cr; the latest was in March 2015.
Akhanda Pratap Singh ceased to be Additional Director on 19 Oct 2018. Tushar Subodh Shah was appointed as Additional Director on 19 Oct 2018. Bhushan Prakashbhai Mehta ceased to be Additional Director on 09 Sep 2015. Idhasoft has 26 board changes on record in total.
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