Improved credit rating from CRISIL 2018

LiteBreeze continues to grow steadily from strength to strength, be it in terms of talent, clients or over-all company health. LiteBreeze successfully advanced to the third highest rating of “good” from an “above average” last year as per CRISIL’s rating.

Highlights from the report:

• “Organisational stability: An established track record of 14+ years indicates the company’s ability to weather economic and business cycles.”
• “Experienced leaders: The senior management has 15+ years of relevant experience. This indicates their ability to maintain business viability and steer the business through operational hurdles.”
• “Secular growth: The company has demonstrated growth in revenue for the past 3 financial years which is reflected in an increase in net sales to Rs 405.96 lakh in fiscal 2018 from Rs 210.77 lakh in fiscal 2016.”
• “Adequate capital structure: This is reflected in the company’s debt-equity ratio of 0.36 times total outside liabilities/tangible net worth of 1.02 times in fiscal 2018.”
• “Adequate credit protection measures: This is reflected in the company’s net cash accrual to a debt of more than 100.00% and PBDIT interest cover of 13.2 times in fiscal 2018.”
• “Receivables were in line with the company’s credit terms in fiscal 2018.”

A pointer in concern with business management would be “factors that may constrain margins in the future: Competition from established players and new entrants.”

Financial risk factors this year included “moderate profitability: The company’s ability to enhance operational efficiency while scaling up operations remains to be seen.

It registered a moderate operating profit before depreciation, interest, and tax (OPBDIT) margin of 10.12%, profit after tax (PAT) margin of 3.37%, and return on capital employed (RoCE) of 32.77% in fiscal 2018.”

We publish our rating to demonstrate our financial strength to prospective clients and colleagues. We believe it adds clarity and transparency for all our stakeholders.

Our CEO David Claesson is resolved to continue the company’s successful focus on WordPress development, Laravel development services and Hybrid mobile app development.

The rating from CRISIL encourages LiteBreeze to sustain its high standards by continuously evolving in techniques and aiming high to provide flawless development services to our clients.

Ability to provide great service quality is one of our top criteria when recruiting the top 1% of talent in the pool of software development professionals and we are always on the look-out for dedicated developers to add to the LiteBreeze family.

If you have what it takes to join our dynamic team, do not hesitate to apply for a job here.