Promoter holding
64.27%
PS
Progress Software Development Private Limited - Due diligence report
A 360° intelligence report on Progress: trust score, financial health, credit view, compliance, directors, growth and distress signals - gen…
Progress — 360° Intelligence Report
Generated from MCA filings & public records85/100
Trust Score
Low Risk
Progress is assessed as Low Risk with a Trust Score of 85/100. Progress is an active private limited indian non-government company incorporated in 2005, operating in the Information Technology sector. The company has shown revenue growth across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a low compliance risk and low financial risk profile.
Report generated on 18 Jun 2026 from the latest processed filings. Progress Software Development Private Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
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Score Card
Higher is safer · rule-based & explainableTrust ScoreLow Risk
85/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
93/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
90/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
90/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreModerate
50/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
95/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
80/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Standalone · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 90/100 Low Risk
- Liabilities ≈ 38% EBITDA - serviceable.
- No open charges - unencumbered balance sheet.
- Working-capital cover adequate.
- Profitable - internal accruals available.
Charges position: 0 open (-) · 0 satisfied (-).
Compliance Score: 93/100 Low Risk
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Litigation present in 1 court forum(s).
- 2 active GST registration(s).
Legal cases on record (1)
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Director Intelligence
Stability score: 50/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| CHANDRA SEKHAR CHERUKU | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DOMENIC LOCOCO | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ANTHONY ALFRED FOLGER | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 3 directors on the board.
- ANTHONY ALFRED FOLGER has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- Stable board - no exits in 3 years.
Director & KMP remuneration (FY 2023)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2023 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
Progress Software Corporation
Subsidiaries
-
Group entities
-
Capital events
-
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Progress Software Corporation | Holding Company | 74.00% |
Full shareholding pattern, group structure & capital events →
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Risk Intelligence Center
Growth 95 · Distress 80
Growth signals & trust indicators
Revenue acceleration: +1.42 over 4 year(s).
Latest year revenue grew 2.1x.
Profit expanded 24% year-on-year.
Asset base grew 0.86 - capacity expansion.
Net margin improved to 61%.
EPFO headcount growing - hiring signal.
Operating for 21+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Outside liabilities up 38% in a year.
1 court case(s) on record - see the legal section for details.
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Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence87/100
Favourable indicators
Suitability as a supplier / customer counterparty.
- Statutory record is clean.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment91/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- No existing security registered - first-charge position available.
- Compliance record supports lending.
Investor view91/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 6 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
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MCA Filings & Events Timeline
Latest 15 events07 Oct 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
30 Nov 2022
Director appointed
CHANDRA SEKHAR CHERUKU (Director)
Director ceased
ANTHONY ALFRED FOLGER
12 Oct 2022
Director ceased
PRASANNA LAXMI REDDY ANIREDDY
Director ceased
STEPHEN HOWARD FABERMAN
11 Oct 2022
Director appointed
ANTHONY ALFRED FOLGER (Director)
29 Aug 2022
Director ceased
CHANDRA SEKHAR CHERUKU
29 Jun 2022
Director appointed
DOMENIC LOCOCO (Director)
28 Sep 2018
Director ceased
ANKUR TANTIA
01 Dec 2017
Director ceased
DOMENIC LOCOCO
Director ceased
BRIAN PATRICK FLANAGAN
24 Oct 2017
Director ceased
SUBRATA SARKAR
06 Feb 2013
Director ceased
CHRIS BENGT ANDERSEN
16 Mar 2012
Director ceased
DAVID HURLON BENTON JR
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Key Observations
Auto-generated from the data aboveRevenue grew 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
3 active director(s) / partner(s); review board churn before relying on management continuity.
2 active GST registration(s) indicate ongoing business operations.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
| Company | CIN | Location |
|---|---|---|
| Excelindia | L72900KA2000PLC027256 | Mysore., Karnataka, India |
| Ilfstechnologies | U74999MH1993PLC070724 | Mumbai, Maharashtra, India |
| Trigyn Technologies | L72200MH1986PLC039341 | Mumbai, Maharashtra, India |
| Cppib India Advisors Private Limited | U65923MH2014FTC258104 | Mumbai, Maharashtra, India |
| Parexel International India Safety Services Private Limited | U72200KA2004PTC033875 | Bengaluru, Karnataka, India |
| Intersoft Data Labs & Solutions Private Limited | U72900HR2009PTC055279 | Gurgaon, Haryana, India |
| Epicor Software | U72200KA2014FTC076782 | Bangalore North, Karnataka, India |
| Lister Technologies | U72200TN2000PTC045064 | Chennai, Tamil Nadu, India |
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Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Progress before audits and certifications: compliance score 93/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Progress: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Favourable lending indicators. Credit risk score 90/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 95/100, margin trends, ownership structure and peer set for Progress - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Favourable indicators. Trust score 85/100, distress signals and MSME payment-delay disclosures - know whether Progress pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (1 case(s) on record), regulatory flags, charge documents trail and director networks for Progress - groundwork for KYC, onboarding and disputes.
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Frequently Asked Questions
Is Progress an active company?
Progress has MCA status “Active” with a compliance score of 93/100 (Low Risk).
Is Progress financially healthy?
Progress has a Financial Health Score of 90/100 (Low Risk) based on its filed financial statements.
Should I do business with Progress?
Its overall Trust Score is 85/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Progress?
The ultimate holding entity is Progress Software Corporation. 3 active director(s) are on record.
Does Progress have loans or charges against its assets?
No charges are registered against this company - an unencumbered balance sheet.
Is Progress up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 93/100 (Low Risk).
Is it risky to lend to Progress?
Its Credit Risk Score is 90/100 (Low Risk). Banker verdict: Favourable lending indicators.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
