Progress Software Solutions India Private Limited - Due diligence report

A 360° intelligence report on Progress: trust score, financial health, credit view, compliance, directors, growth and distress signals - gen…

1998-08-19 Mumbai, Maharashtra Active Unlisted Active Compliant
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PS Progress Software Solutions India Private Limited
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Progress — 360° Intelligence Report

Generated from MCA filings & public records
59/100
Trust Score
Moderate

Progress is assessed as Moderate with a Trust Score of 59/100. Progress is an active private limited indian non-government company incorporated in 1998, operating in the Information Technology sector. The company has shown revenue growth across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and high financial risk profile.

Report generated on 29 Jun 2026 from the latest processed filings. Progress Software Solutions India Private Limited snapshot & full profile →

Financial Health › Weak
Overall Assessment CautionWeakNeutralGoodStrong Good
Compliance › Good

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.

02

Score Card

Higher is safer · rule-based & explainable
Trust ScoreModerate
59/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
62/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
40/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
45/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
45/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
60/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
60/100
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.

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Scores 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: 45/100 Caution Indicated
  • Negative operating earnings - debt service depends on external support.
  • No open charges - unencumbered balance sheet.

Charges position: 0 open (-) · 0 satisfied (-).

Compliance Score: 62/100 Moderate
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Flagged by authority: MCA.
  • Delayed payments to MSME suppliers disclosed (6 disclosure(s)).
05

Director Intelligence

Stability score: 45/100
NameDIN / PANDesignationAppointedTenureDIN 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".
  • 2 director exit(s) in the last 3 years.
  • Average tenure above 5 years.
06

Ownership & Group Intelligence

As per FY 2022 annual return
Promoter holding
64.27%
Public / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
Savvion Inc.
Subsidiaries
-
Group entities
-
Capital events
0 allotment(s) · 4 transfer(s)

Promoters hold a dominant controlling stake - exact percentages are part of the full report.

Group entityRelationship% held
Savvion Inc. Holding Company 74.00%

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 60 · Distress 60
Growth signals & trust indicators
Steady revenue growth: +38% over 4 year(s).
Operating for 27+ years.
Active EPFO - real payroll on record.
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-year.
MSME payment delays disclosed - latest outstanding 39,000.00.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence60/100
Review suggested
Suitability as a supplier / customer counterparty.
  • Check the compliance flags before onboarding.
  • 2 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment48/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • No existing security registered - first-charge position available.
  • Compliance gaps should be priced into terms.
Investor view53/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • 1 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management churn warrants questions.
09

MCA Filings & Events Timeline

Latest 15 events
19 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
28 Sep 2023
Director ceased
CHANDRA SEKHAR CHERUKU
Director ceased
ANTHONY ALFRED FOLGER
22 Aug 2023
Director appointed
CHANDRA SEKHAR CHERUKU (Director)
12 Oct 2022
Director ceased
STEPHEN HOWARD FABERMAN
11 Oct 2022
Director appointed
ANTHONY ALFRED FOLGER (Director)
20 Oct 2020
Director ceased
RAKESH DEVASISH JENA
01 Jun 2020
Director ceased
BRIAN PATRICK FLANAGAN
27 Sep 2019
Director ceased
SIVARAMAKRISHNAN AYAKKAD NARAYANAN
31 Mar 2019
Share transfer (FY 2019)
10.00000000 shares to Data RPM LLC
Share transfer (FY 2019)
10.00000000 shares to Progress Software Int. Corp.
Share transfer (FY 2019)
10.00000000 shares to Kinvey LLC
Share transfer (FY 2019)
10.00000000 shares to Persistence LLC
28 Jun 2013
Director appointed
DOMENIC LOCOCO (Director)
10

Key Observations

Auto-generated from the data above
Revenue grew 1.42 over the last 4 financial year(s).
Net worth is positive.
3 active director(s) / partner(s); review board churn before relying on management continuity.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2022 annual return.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Rosnil Technology Private Limited U72200MH2022PTC391400 Navi Mumbai, Maharashtra, India
Vwood Technology Private Limited U74110TG2003PTC040767 Hyderabad, Telangana, India
Mobieos U72900KA2011PTC059960 Bangalore, Karnataka, India
Elixir Gamelabs Private Limited U74999MH2022PTC382450 Rabale, Maharashtra, India
Sun Technosys Private Limited U72900TN2010PTC075896 Chennai, Tamil Nadu, India
Rockmind Technologies Private Limited U74999HR2016PTC066242 Gurgaon, Haryana, India
Aeon Entertainment Private Limited U74900TG2014PTC094228 Hyderabad, Telangana, India
Zasa Media Private Limited U72900TG2019PTC136593 Hyderabad, Telangana, India
12

Who Uses This Report

CA · CS · Banker · Investor · Vendor
Chartered Accountants (CA)

Verify Progress before audits and certifications: compliance score 62/100, 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: Mixed indicators - deeper appraisal suggested. Credit risk score 45/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 60/100, margin trends, ownership structure and peer set for Progress - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 59/100, distress signals and MSME payment-delay disclosures - know whether Progress pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (no cases on record), regulatory flags, charge documents trail and director networks for Progress - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Progress an active company?

Progress has MCA status “Active” with a compliance score of 62/100 (Moderate).

Is Progress financially healthy?

Progress has a Financial Health Score of 40/100 (Caution Indicated) based on its filed financial statements.

Should I do business with Progress?

Its overall Trust Score is 59/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Progress?

The ultimate holding entity is Savvion Inc.. 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: 62/100 (Moderate).

Is it risky to lend to Progress?

Its Credit Risk Score is 45/100 (Caution Indicated). Banker verdict: Mixed indicators - deeper appraisal suggested.

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.