Key Metrics of Compuage Infocom Limited
About Compuage Infocom Limited
Company details
- Registered office
- D-601/602 & G-601/602,, Lotus Corporate Park, Steel Compound, Western Express Highway,, Goregaon(e), Mumbai, In-mh, 400063
- Listed
- NSE: COMPINFO · ₹0.99
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 03 Nov 2025 | CARE | Other | — | — | — | — | View |
| 31 Oct 2024 | CARE | Other | — | — | — | — | View |
| 09 Aug 2023 | CARE | Other | — | — | — | — | View |
| 21 Jul 2023 | CARE | Other | — | — | — | — | View |
| 26 Apr 2023 | CARE | Other | — | — | — | — | View |
| 07 Apr 2023 | CARE | Other | — | — | — | — | View |
| 30 Sep 2022 | CARE | Reaffirmed (from BBB) | BBB- | A3 | Stable | ₹960 Cr | View |
| 31 Mar 2022 | CARE | Downgraded (from BBB+) | BBB | A3 | Stable | ₹960 Cr | View |
| 27 May 2021 | CARE | Reaffirmed | BBB+ | A3+ | Stable | ₹960 Cr | View |
| 11 May 2021 | CARE | Assigned | BBB+ | A3+ | Stable | ₹200 Cr | View |
| 21 Feb 2020 | CARE | Withdrawn | BBB | A3 | Negative | — | View |
| 15 Nov 2019 | CARE | Non-cooperating | BBB | A3 | Negative | ₹1,529 Cr | View |
| 27 May 2019 | CARE | Reaffirmed | A- | A2+ | Negative | ₹1,529 Cr | View |
| 07 Jan 2019 | CARE | Other | — | — | — | — | View |
Credit strengths (CARE, Apr 2023)
—
Credit challenges
− Working capital intensive nature of business
Working capital intensity is another inherent characteristic of the IT distri bution business, due to which CIL has a high leverage. Off late the receivables have been slower thus resulting into stretched liquidity marked by continued higher working capital utilization despite inflow of funds by way of rights issue in December 2022. The company extends credit of 30 days to 90 days to its resellers and credit of 45 days to 60 days to enterprise segment. Hence the average collection period is arou
− Risk of technological obsolescence
Technological obsolescence is an inherent risk in any technology related business and also applies to the IT distribution business. However, CIL’s vendors continue to provide the company significant support against technological obsolescence. CIL is compensated when a new model is launched, and the existing model is to be sold at a discount. Nonetheless, CIL continues to remain exposed to the risk associated wit h inventory holding and stock liquidation, which could have an adverse impact on
− Susceptibility to foreign exchange fluctuations
CIL procures around 97% of its products from local units of the vendors while the remaining is imported. F or the products imported (around 3%), the company hedges 100% of its exposure through forw ard contracts. Further, the company enjoys natural hedge from the goods sold outside India. 1Complete definition of the ratings assigned are available at www.careedge.in and other CARE Ratings Ltd.’s publications 1 CARE Ratings Ltd.
− Resignation of Company Secretory & Non-Executive Independent directors
As per the BSE announcement dated March 29th, 2023, March 30th, 2023, two of the non-executive independent directors & Company secretory had resigned. Further as per the announcement dated April 24th, 2023, another non-executive independent director has also tendered his resignation. And one of the reasons mentioned in the resignation letter of afore said non- executive director includes “Many unanticipated events which resulted in the severe liquidity crunch and further loss of
− Key Rating Strength
Experienced promoters with long track record in IT/ITES distribution business The company is promoted by Mr. Atul Mehta (CEO), along with Mr. Ajay Mehta and Mr. Bhavesh Mehta, who have rich experience of over three decades in the Indian IT/ITes peripherals distribution industry. The promoters and management have been the key driving force that has helped CIL i n building vendor relationships with key IT hardware and software vendors. .
− Prominent position in the Indian IT distribution in dustry
The company have long standing relationship with IT hardware and software br ands like CISCO, HP, Asus, Samsung, Microsoft, and others across product categories like PCs, comp uter peripherals & Other Hardware, mobile handsets and digital cameras which denotes the strong presence of CIL in the IT products segment. Improvement in Scale of operations and profitability margins although remains thin inherent to trading business.
Could lead to an upgrade
• Overall gearing of less than 2.00 times and TOL/TNW less than 3.00 times on a sustained basis • Improvement in ROCE more than 20% on a sustained basis.
Could lead to a downgrade
• Overall gearing of more than 3.00x on a sustained basis. • Working capital cycle of more than 60 days on a sustained basis resulting in deterioration of company’s credit profile • Working capital utilization (Fund Based) over 95% on sustained basis.
Agency-reported financials (CARE, 03 Nov 2025)
| Metric | March 31, 2023 | March 31, 2024 |
|---|---|---|
| Total operating income | ₹3,739 Cr | ₹24.93 Cr |
| PBILDT | ₹-29.28 Cr | ₹-52.93 Cr |
| PAT | ₹-,199.84 Cr | ₹-,374.77 Cr |
| Overall gearing (times) | 5.75× | -2.28× |
| Interest coverage (times) | -0.32× | -1.09× |
| Revenue growth (YoY) | — | −99.3% |
| EBITDA margin | −0.8% | −212.3% |
| Implied interest cost (EBITDA ÷ coverage) | — | — |
| PAT margin | −5.3% | −1,503.3% |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Rating1 Facilities Action Long Term Bank ) | Working capital & bank lines | — | ₹450 Cr | — | BBB- (Stable) | Revised | CARE |
| Short Term Bank Facilities | Working capital & bank lines | — | ₹510 Cr | — | A3 | Reaffirmed | CARE |
| The ratings also take cognizance of the fact that promoters have already brought in Rs crores part of promoters’ | Other | — | ₹13.6 Cr | — | — | Other | CARE |
| • Overall gearing of less than times TOL/TNW less than times on a sustained basis | Other | ₹1.80 Cr | ₹2.50 Cr | 38.9% | — | Other | CARE |
CARE ratings on record (checked 26 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| BG/LC | — | Withdrawn |
| Cash Credit | ₹450 Cr | CARE D; ISSUER NOT COOPERATING* |
| Fixed Deposit | — | Withdrawn |
| ILC/FLC | ₹510 Cr | CARE D; ISSUER NOT COOPERATING* |
| Working Capital Limits | — | Withdrawn |
Lenders
| Fund-based - LT | Cash Credit | Bandhan Bank Ltd. |
| Fund-based - LT | Cash Credit | Bombay Mercantile Co-operative Bank Ltd. |
| Fund-based - LT | Cash Credit | Central Bank of India |
| Fund-based - LT | Cash Credit | Doha Bank |
| Fund-based - LT | Cash Credit | HDFC Bank Ltd. |
| Fund-based - LT | Cash Credit | IDBI Bank Ltd. |
| Fund-based - LT | Cash Credit | IDFC First Bank Ltd. |
| Fund-based - LT | Cash Credit | Indian Bank |
| Fund-based - LT | Cash Credit | Proposed |
| Fund-based - LT | Cash Credit | Punjab National Bank |
| Non-fund-based - ST | ILC/FLC | Bandhan Bank Ltd. |
| Non-fund-based - ST | ILC/FLC | Central Bank of India |
| Non-fund-based - ST | ILC/FLC | Doha Bank |
| Non-fund-based - ST | ILC/FLC | HDFC Bank Ltd. |
| Non-fund-based - ST | ILC/FLC | IDBI Bank Ltd. |
| Non-fund-based - ST | ILC/FLC | IDFC First Bank Ltd. |
| Non-fund-based - ST | ILC/FLC | Indian Bank |
| Non-fund-based - ST | ILC/FLC | Proposed |
| Non-fund-based - ST | ILC/FLC | Punjab National Bank |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2023-24
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Withdrawal | CARE · 21 Feb 2020 · Withdrawn at company request with lender NOCs |
| Next action stable or better (model) | 40% |
| Information on file | 67% · missing: Audited financial statements (last 18 months), Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 33% chance the next rating action is stable or better
- Interest coverage -1.09×
What happened, step by step
- Mar 2022 — Full repayment of term loan
- Apr 2023 — ₹41.52 cr raised through equity
“Moreover, in order to improve liquidity position, the compan y had infused Rs 41.52 crores by way of equity in December 2022.”
- Mar 2022 — Full repayment of term loan
- Sep 2022 — ₹13.6 cr raised
“However, the comfort is drawn from the fact that the promoters have brought in Rs.13.60 crore during June 2022 to July 2022 period.”
Rated limits by facility
Timeline
From the report
Moreover, in order to improve liquidity position, the compan y had infused Rs 41.52 crores by way of equity in December 2022.
From the report
The company had achieved GCA of Rs 25 crores against the repayment obligation of Rs 36 crores in 9MFY23.
From the report
During FY24 & FY25 the company has repayment obligation of Rs 20 crores & Rs 15 crores.
From the report
The free cash and bank balance of however remained low (Rs.5.00crore as on March 31, 2022) with most of the cash/liquid investments are encumbered with banks as margin money.
From the report
Moreover, in order to improve liquidity position, the company had infused Rs 41.52 crores by way of equity in December 2022.
From the report
The company had achieved GCA of Rs 25 crores against the repayment obligation of Rs 36 crores in 9MFY23.
From the report
During FY24 & FY25 the company has repayment obligation of Rs 20 crores & Rs 15 crores.
From the report
The free cash and bank balance of however remained low (Rs.5.00crore as on March 31, 2022) with most of the cash/liquid investments are encumbered with banks as margin money.
From the report
The ratings also take cognizance of the fact that promoters have already brought in Rs 13.60 crores part of promoters’ contribution of rights issue, thus resulting in reduced utilisation of working capital limits in September 2022 also that the company is most likely to complete the process by end of the Q3FY23.
From the report
Moreover, in order to improve liquidity position, the company had planned to infuse equity by way of rights issue amounting to Rs.50 crore.
From the report
However, the comfort is drawn from the fact that the promoters have brought in Rs.13.60 crore during June 2022 to July 2022 period.
From the report
Liquidity: Adequate The liquidity position of CIL remains Adequate with gross cash accruals of Rs 30.50 crore in FY22 and Rs 7.01 crore in Q1FY23 as against a total repayment obligation of Rs 45.11 crore in FY23.
From the report
Liquidity: Adequate The liquidity position of CIL remains Adequate with gross cash accruals of Rs 30.50 crore in FY22 and Rs 7.01 crore in Q1FY23 as against a total repayment obligation of Rs 45.11 crore in FY23.
From the report
During FY24 & FY25 the company has repayment obligation of Rs 20 crores & Rs 15 crores.
From the report
Furthermore, CIL also derives comfort from the unutilized lines of cash credit facilities of around Rs.45.00crore (sanctioned limit: Rs.384 crore).
From the report
Furthermore, CIL also derives comfort from the unutilized lines of cash credit facilities of around Rs.45.00crore (sanctioned limit: Rs.384 crore).
From the report
The free cash and bank balance of however remained low (Rs.5.00crore as on March 31, 2022) with most of the cash/liquid investments are encumbered with banks as margin money.
From the report
The ratings draw comfort from the planned equity infusion of Rs.50 crore through rights issue in early part of FY23.
From the report
Negative factors: Factors that could lead to negative rating action/downgrade • Overall gearing of more than 2.75x on a sustained basis . • Working capital cycle of more than 60 days on a sustained basis resulting in deterioration of company’s credit profile • Delay in fund infusion of Rs 50 crores by way of R ights issue beyond September 2022 Detailed description of the key rating drivers Key Rating Strength Experienced promoters with long track record in IT/ITES distribution business The company is promoted by Mr.
From the report
However, comfort is drawn from the fact that CIL, on consolidated basis, has free cash balance of Rs.7.82 crore (including Liquid Investment) as on March 31, 2021, and Rs 5.77 crores as on September 2021 providing some financial flexibility.
From the report
Also, Debt Service Coverage Ratio (DSCR) expected to remain low, given large scheduled repayment of term loan in FY23.
From the report
The company reported a Gross Cash Accruals (GCA)of Rs 23.76 crore in FY21 and Rs18.88 crore in 9MFY22.
From the report
During FY23 the company has repayment obligation of Rs 45.11 crores against an expected GCA of Rs 49 crores.
From the report
Further, CIL has availed covid term loan of Rs.33.50 crore during FY21 to provide additional liquidity in the system.
From the report
The company has incurred foreign exchange fluctuation loss of Rs.1.24crore in FY20 as compared to gain of Rs.0.42crore in FY19 Liquidity: Adequate – The liquidity position of CIL remain adequate with gross cash accruals of Rs 33.33crore in FY20 and Rs15.83crore in 9MFY21 as against a total repayment obligation of Rs11.57crore in FY21.
From the report
The company has incurred foreign exchange fluctuation loss of Rs.1.24crore in FY20 as compared to gain of Rs.0.42crore in FY19 Liquidity: Adequate – The liquidity position of CIL remain adequate with gross cash accruals of Rs 33.33crore in FY20 and Rs15.83crore in 9MFY21 as against a total repayment obligation of Rs11.57crore in FY21.
From the report
Further, CIL has availed covid term loan of Rs.33.50 crore during FY21 to provide additional liquidity in the system.
From the report
The free cash and bank balance of however remained low (~Rs.7crore as on March 31, 2020) with most of the cash/liquid investments are encumbered with banks as margin money.
From the report
The company has incurred foreign exchange fluctuation loss of Rs.1.24crore in FY20 as compared to gain of Rs.0.42crore in FY19 Liquidity: Adequate – The liquidity position of CIL remain adequate with gross cash accruals of Rs 33.33crore in FY20 and Rs15.83crore in 9MFY21 as against a total repayment obligation of Rs11.57crore in FY21.
From the report
The company has incurred foreign exchange fluctuation loss of Rs.1.24crore in FY20 as compared to gain of Rs.0.42crore in FY19 Liquidity: Adequate – The liquidity position of CIL remain adequate with gross cash accruals of Rs 33.33crore in FY20 and Rs15.83crore in 9MFY21 as against a total repayment obligation of Rs11.57crore in FY21.
From the report
Further, CIL has availed covid term loan of Rs.33.50 crore during FY21 to provide additional liquidity in the system.
From the report
The free cash and bank balance of however remained low (~Rs.7crore as on March 31, 2020) with most of the cash/liquid investments are encumbered with banks as margin money.
From the report
During March 2019, there was an infusion of equity capital of Rs.16.84 crore in CIL.
From the report
During March 2019, there was an infusion of equity capital of Rs.16.84 crore in CIL.
From the report
Further, on May 10, 2019 there was a fund infusion of Rs.10 crore in the form of Cumulative Non-convertible Compulsorily Redeemable Preference shares.
From the report
In March 2019 the there was an infusion of equity capital of Rs.16.84 crore in CIL.
From the report
Further, on May 10, 2019 there was a fund infusion of Rs.10 crore in the form of Cumulative Non-convertible Compulsorily Redeemable Preference shares.
From the report
Furthermore, during H1FY19, CIL tied-up with CBC 1 Complete definition of the ratings assigned are available at www.careratings.com and other CARE publications 1 CARE Ratings Limited Press Release Corporation, Japan for CCTV surveillance products and ~15 cloud brands catering to the requirement of mid-sized and large enterprise requirements.
From the report
Besides, the average utilization of fund based bank limits remained high at around 90% for past twelve months ended November 2018 and CIL, on consolidated basis, has free cash balance of Rs.55.29 crore (incl Liquid Investment) as on March 31, 2018 (PY 38.84 crore) providing liquidity at moderate levels.
From the report
Besides, the average utilization of fund based bank limits remained high at around 90% for past twelve months ended November 2018 and CIL, on consolidated basis, has free cash balance of Rs.55.29 crore (incl Liquid Investment) as on March 31, 2018 (PY 38.84 crore) providing liquidity at moderate levels.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.