MIRA
INFORM REPORT
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Report Date : |
24th June, 2006 |
IDENTIFICATION
DETAILS
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Name : |
BHARTI
TELETECH LIMITED |
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Registered Office : |
D-195, Okhla Industrial Area, Phase I, New
Delhi – 110 020 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
31.03.1999 |
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Com. Reg. No.: |
55-123394 |
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CIN No.: [Company
Identification No.] |
U32204DL2003PLC123394 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB05908A |
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Legal Form : |
A
closely held public limited liability company |
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Line of Business : |
Manufacturer
of Telecom Equipments, Electrical Computers, Circuit Boards and Ultrasound
Equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
4500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Exist |
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Comments : |
Subject
is a part of Bharti Telecom Group, managed by Mr. Sunil Mittal, a first generation
entrepreneur. Trade relations are reported as fair. General financial
position is satisfactory. Profit margin is under severe pressure. Payments
are reported as slow but correct. Your
proposed business dealings can be considered against normal trade terms and
conditions. |
LOCATIONS
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Registered Office : Customer
Support Division |
D-195, Okhla Industrial Area, Phase I, New
Delhi – 110 020 |
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Tel. No.: |
91-11-241709600-05 |
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Fax No.: |
91-11-241709629 |
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E-Mail : |
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Website : |
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Head/Corporate
Office : |
Qutab Ambience,
(Near Qutab Minar), H-5/12, Ward No. 1, Mehrauli Road, New Delhi - 110 030,
India |
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Tel.
No.: |
91-11-26961321/26961327/51666119/51666120 |
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Fax
No.: |
91-11-51666126 |
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Regional Offices |
Delhi: Mumbai: Kolkata: Bangalore: |
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Factory
1 : |
BHARTI TELETECH LIMITED (A Bharti
Enterprise) Plot No. 46-50, |
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Branches
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Chennai: Secunderabad: Ludhiana: Indore: |
DIRECTORS
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Name : |
Mr.
Sunil Bharti Mittal |
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Designation : |
Chairman |
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Date of Birth/Age : |
23.10.1957 |
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Date of Appointment : |
30.03.1999 |
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Name : |
Mr.
Rakesh Bharti Mittal |
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Designation : |
Vice Chairman and Managing Director |
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Date of Birth/Age : |
18.09.1955 |
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Qualification : |
Electronic Engineer |
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Experience : |
29 Years |
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Date of Appointment : |
21.09.2000 |
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Previous
Employment |
Managing Director of Bharti Telecom
Limited |
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Name : |
Mr.
Pawan Kapur |
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Designation : |
Director |
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Date of Birth/Age : |
04.06.1950 |
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Date of Appointment : |
01.07.2002 |
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Name : |
Mr.
Rajan Bharti Mittal |
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Designation : |
Director |
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Date of Appointment : |
30.03.1999 |
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Name : |
Mr.
Akhil Gupta |
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Designation : |
Director |
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Date of Birth/Age : |
22.12.1955 |
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Date of Appointment : |
25.11.2000 |
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Name
: |
Mr. K.
L. Jain |
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Designation
: |
Director |
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Date
of Birth/Age : |
06.10.1949 |
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Date
of Appointment : |
27.09.2000 |
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Name
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Mr. G.
K. Aggarwal |
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Designation
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Director |
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Date
of Birth/Age : |
25.10.1948 |
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Date
of Appointment : |
27.09.2000 |
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Name
: |
Mr.
Kailash Chandra Mehara |
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Designation
: |
Director |
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Date
of Birth/Age : |
06.12.1921 |
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Date
of Appointment : |
01.07.2002 |
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Name
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Mr. K.
Virendra Bhussry |
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Designation
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Director
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Date
of Birth/Age : |
28.02.1930 |
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Date
of Appointment : |
01.07.2002 |
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Name
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Mr.
Sudhir Khullar |
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Designation
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Company Secretary |
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Date
of Birth/Age : |
28.07.1960 |
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Date
of Appointment : |
16.03.2001 |
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other personnel |
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MAJOR SHAREHOLDERS
The
entire share capital of the company is held by the Directors and their
nominees, at present. [2004]
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Bharti
Global Limited |
2460645 |
48.54 |
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Bharti
Overseas Trading Company |
1246948 |
24.59 |
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Bharti
Enterprises Private Limited |
1120825 |
22.11 |
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Others |
241589 |
4.76 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Telecom Equipments, Electrical Computers, Circuit Boards and Ultrasound
Equipments. |
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Products : |
The company’s product range includes : v Slim
line telephones v Basic
telephones v Feature
phones v Caller
ID boxes v Boss
Secretary phones v Cordless
phones v SMS
phones v ADSL
products v Fixed
Wireless Terminals v
Fixed Cellular Terminals |
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Brand Names : |
“BEETEL”,
“MOD” and “BHARTI”. |
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Exports to : |
USA,
South America, Eastern Europe, Middle East, South East Asia and Africa |
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Terms : |
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Selling : |
Credit
terms |
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Purchasing : |
L/C
terms |
PRODUCTION
STATUS
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Particulars |
Unit |
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Installed Capacity |
Actual Production |
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EPBT |
Nos. |
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4000000 |
3220612 |
GENERAL
INFORMATION
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Customers : |
v
Siemens v
Sprint
Corporation, Usa v
Akai
Corporation v
Mauritius
Telecom v
Oman
Telecom |
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No. of Employees : |
300 |
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Bankers : |
v
State
Bank of India, Gurgaon, Haryana v
Citi
Bank v
IDBI
Bank Limited |
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Facilities : |
Secured Loan From Bank Cash Credit & Foreign
Currency working capital Loan – Rs. 117.291 Millions Unsecured Loan Short term loans and advance From other – Rs. 2.793 Millions
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Banking Relations : |
Satisfactory
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Auditors : |
J. C.
Bhalla & Company Chartered
Accountants |
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Address: |
A-18,
Nizamuddian West, New Delhi |
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Associates/Subsidiaries : |
v
Bharti Infotrac Private Limited v
Bharti Enterprises Private Limited v
Bharti Televentures Limited v
Bharti Healthcare Limited v
Bharti Telecom Limited v
Bharti Telesoft Private Limited v
Bharti Telecom Finance Limited v
Bharti Foundation v
Bharti Cellular Limited v
Bharti Infotel Limited v
Bharti Infranet Private Limited v
Bharti Telesoft International Private Limited v
Teletech Services (India) Private Limited v
Tulip Projects Private Limited v
Bharti Global Limited SUBSIDIARIES
Line of Business : Manufacturers & Exporters of telephone
equipments Turnover : Rs. 217.305 millions for the
year March, 2003 Profit Before Tax : Rs. 10.579 millions Profit After Tax : Rs. 6.486 millions
Line of Business : Manufacturers and
exporters of telephone equipments Turnover : Rs. 418.990 millions for March, 2003 Profit Before Tax : Rs. 53.830 millions Profit After Tax : Rs. 33.430 millions
Line of Business : IT Enabled Services Turnover : Rs. 118.038 millions for the
year March, 2003 Profit Before Tax : Rs. 23.851 millions Profit / (Loss) After Tax : Rs.
(5.245) millions |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
55,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50,70,007 |
Equity Shares |
Rs.10/- each |
Rs. 50.700 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
50.700 |
50.700 |
50.700 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1113.694 |
629.926 |
658.709 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1164.394 |
680.626 |
709.409 |
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LOAN FUNDS |
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1] Secured Loans |
117.291 |
35.342 |
54.406 |
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2] Unsecured Loans |
2.793 |
12.593 |
74.247 |
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TOTAL BORROWING |
120.084 |
47.935 |
128.653 |
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DEFERRED TAX LIABILITIES |
29.604 |
19.790 |
31.656 |
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TOTAL |
1314.082 |
748.351 |
869.718 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
286.283 |
174.077 |
223.456 |
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Capital work-in-progress |
2.194 |
0.000 |
0.000 |
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INVESTMENT |
244.944 |
275.571 |
168.146 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
249.202
|
27.077 |
68.840 |
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Sundry Debtors |
236.657
|
87.934 |
127.566 |
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Cash & Bank Balances |
77.069
|
18.167 |
30.076 |
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Other Current Assets |
11.461
|
6.172 |
5.880 |
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Loans & Advances |
373.321
|
262.171 |
373.635 |
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Total Current Assets |
947.710
|
401.521 |
605.997 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
158.508
|
81.401 |
94.254 |
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Provisions |
14.374
|
29.923 |
49.471 |
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Total Current Liabilities |
172.882
|
111.324 |
143.725 |
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Net Current Assets |
774.828
|
290.197 |
462.272 |
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MISCELLANEOUS EXPENSES |
5.833 |
8.506 |
15.844 |
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TOTAL |
1314.082 |
748.351 |
869.718 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover [including other
income] |
1917.187 |
662.240 |
857.790 |
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Profit/(Loss)
Before Tax |
172.007 |
(36.343) |
12.744 |
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Provision
for Taxation |
55.727 |
16.144 |
2.945 |
|
Profit/(Loss)
After Tax |
116.280 |
(20.199) |
9.799 |
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Export
Value |
197.911 |
133.579 |
96.528 |
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Import
Value |
765.731 |
141.633 |
216.350 |
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Total
Expenditure |
1690.366 |
663.347 |
843.620 |
KEY
RATIOS
Particulars
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Debt
Equity Ratio |
0.09 |
0.13 |
0.13 |
|
Long
Term Debt Equity Ratio |
0.00 |
0.00 |
0.00 |
|
Current
Ratio |
2.17 |
1.77 |
2.04 |
|
TURNOVER
RATIOS |
|
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|
Fixed
Assets |
5.82 |
2.46 |
2.93 |
|
Inventory
|
13.87 |
12.80 |
13.54 |
|
Debtors |
11.81 |
5.69 |
7.33 |
|
Interest
Cover Ratio |
8.38 |
(0.93) |
1.76 |
|
Operating
Profit Margin (%) |
11.77 |
0.90 |
5.70 |
|
Profit
Before Interest and Tax Margin (%) |
10.20 |
(1.27) |
3.40 |
|
Cash Profit
Margin (%) |
7.65 |
2.17 |
3.43 |
|
Adjusted
Net Profit Margin (%) |
6.07 |
0.00 |
1.13 |
|
Return
on Capital Employed (%) |
19.54 |
(1.01) |
3.55 |
|
Return on Net Worth (%) |
12.61 |
0.00 |
1.31 |
LOCAL AGENCY
FURTHER INFORMATION
The company
was originally incorporated in Haryana on 30th March, 1999 having
company Registration No. 05-34188. Letter, the company shifted its Registered
office to Delhi in 2004 and new com. Registration No. 55-123394 of Delhi ROC
was obtained.
History
Bharthi Teletech
Limited, a Bharathi Mittal Group company, is into manufacturing of telecom
equipments i.e telephone instruments. The company has taken over the
manufacturing and marketing business activities of Bharti Telecom Limited,(a
Group company), the purpose for which it is incorporated. The sharehoders of
Bharathi Telecom Ltd(BTL) got 3 shares of Bharathi teletech for every share he
had in BTL under this demerger scheme.
Push Button Telephones(EPBT) and cordless phjones are the major products
of the company and it has an installed capacity of 3.6 mln EPBT phones per
annun and 18,000 cordless phones per annum. BSNL(erstwhile DOT) and MTNL are
the two major customers of the company.
Bharti Systel Limited(formerly Siemens Telecom Ltd) has become a wholly
owned subsidiary of the company consequent to the divestment of entire
shareholding in BSL by Siemens Limited
The company is undertaking a restructuring excercise with its policy of
giving specialised/exclusive focus on its core activity. As per the said scheme
the company has decided to exit from M/s Bharti Dura-Line Limited a Joint
Venture with Duraline Corporation Limited The company has also decided to
transfer its Ludhiana manufacturing facility to Bharati Systel as a going
concern w.e.f April 1, 2001. In this regard it has signed an memorandum with
Bharathi Systel.
Fixed Assets
v Goodwill
v Land
v Building
v Plant & machinery
v Furniture & fixture
v Vehicle
v Computer
DIVIDEND:
The Directors are pleased to recommend dividend @ 15% (net of tax), on
the paid-up capital of the Company for the year ended 31st March 2005. As per
the Income Tax Act, the dividend will be tax free in the hands of the
Shareholders. The dividend together with dividend tax would absorb a sum of Rs.
8.60 Million.
BUSINESS REVIEW:
The year 2004-05 has been the year of an excellent performance, breaking
all time by achieving more than 5 Million mark of Telephone Instruments. The
year also ended on a promising note with the following significant
achievements:
* Two Million Telephones dispatched from Goa.
* First in the Country to get COB (Chip on Board) approval.
* 120% achievement in terms of Quantity.
* 96% Vendor Satisfaction Index Globally.
* 80% growth in Production.
* 48% growth in Exports.
* 61% market share in BSNL/MTNL.
* 24 new Telephone models have been introduced.
* Two line phone with Caller ID facility has been introduced for the
first time in India.
* Two models of Telephone Instruments manufactured under GE brand were
exported to Atlinks.
* Large supply of telephone instruments to South America.
* Acoredibon of 'One Star Export House' status by Government of India for
a period of 5 years.
The Company also ventured into new business areas of Set Top Boxes for
Direct to Home and Fixed Cellular Terminals. It has won three prestigious
awards during the year:
* Golden Peacock Award for Innovative Management;
* ESC award for Highest Exports in Telecom Equipments, and
* Mera Brand Consumer World Award, 2004. 'beetel' was adjudged the
Consumer World Mera Fixed - Line Telephone Brand for 2004 and the leading Fixed
Line Telephone brand in the Country.
SIGNIFICANT EVENTS DURING THE YEAR:
On 1st November, 2004, the entire business of manufacturing and marketing
of telecom equipments of Bharti Systel Limited (the erstwhile 100% Subsidiary
of the Company) was merged with the Company w.e.f. 1st April, 2003, pursuant to
and in terms of the Orders dated 14th October 2004 of the Hon'ble High Court of
Delhi. The merger would facilitate specialised/exclusive focus and scope for
achieving economies of scale, efficient and administrative convenience towards
attainment of over all growth in the present stiff competitive scenario.
FUTURE PLANS:
For further consolidating the existing leadership position, during the
current year, the focus of the Company would be on:
* Customer centric approach and product quality.
* Continuous introduction of new models of Telecom Equipments including
CLI phones, ADSL Modems, Set Top Boxes, Fixed Cellular Terminals etc. at
affordable prices.
* Continue brand building exercise and create further awareness of
'beetel' and 'GE' brands.
* Expanding the existing distribution network to establish wide customer
base in the Country.
Contingent Liabilities (As certified by the
management):
1. Claim against the company not acknowledged as debt
Income Tax demand pending
appeal Rs 8.65 Millions (Previous Year Rs 8.66 Millions) against which Rs 8.65
Millions, (Previous Year Nil) has been paid under protest and included under
the head “Advance Tax ".
Sales Tax demand Rs 47.68 Millions (Previous Year Rs 35.62 Millions) against which Rs 3.27 Millions (Previous Year Rs 0.27 Millions) has been paid under protest/ court order and included under the head "Advances Recoverable."
Excise duty demand Rs 69.73 Millions (Previous
year Rs 72.23 Millions) against which Rs 0.49Millions (Previous Year Rs 0.88
Millions) has been paid under protest/ court order and included under the head
"Advances Recoverable".
Others Rs 3.19 Millions ( Previous Year Rs 5.11
Millions ) the balance outflow arising from there claims is uncertain, and in
view of expected relief in appeal, the amount has not been provided for.
As per website Details:
PROFILE
In 1985, Bharti Teletech entered
into a technical collaboration with Siemens AG, the German technological giant
and set up a plant in Ludhiana to manufacture telephones.
Come 2005, and Beetel has journeyed
across twenty years of creating history. In 1991, Beetel manufactured phones
for 'Sprint', the American telecom mammoth. Shortly after, in 1993-94, came ISO
9001-2000 accreditations for the manufacturing units - by this time two in
numbers, at Gurgaon and Ludhiana. And in a short span of time, Beetel was
already the market leader. Cornering a third of the Indian market, Beetel
became 'India's Favorite Phone'.
In between these years, while acclaim
and achievements were flowing fast and steady, Beetel was initiating and
implementing steps that would take them beyond the borders of India. The
immediate necessity was to establish an in-house research and development base.
This was necessary on two counts - Firstly, to indigenize technologies for the
local market, and secondly, to pioneer new technologies.
Success came on both fronts and
fast. The first telephone instrument to get ISO accreditations, India's first
EPBT phone, the first to cross the 10 million unit mark and thereafter 20
million mark, the only Indian telephone company to be present in 30 countries
mapping 5 continents. One of the largest telephone manufacturers in the globe.
A brand present in every second Indian home. The story of Beetel is one of
milestones, inspirational efforts, teamwork and of an ambition that knew no
bounds.
"The story continues. The
canvas has broadened immeasurably, so have the challenges. And it is not long
before India's Favourite Phone makes it's presence felt across the globe."
MANAGEMENT
Company's management philosophy,
mission statement from CEO
|
Mr. Rakesh Bharti
Mittal - VC & MD |
Mr. Pawan Kapur,
CEO |
Beetel, a famous brand belonging to Bharti
Teletech Limited, a part of Bharti Enterprises, the largest private Telecom
Company in India, was started in 1985. Since inception, their mission was spelt
in one word - 'Growth'.
Growth that is reflected in the
company's turnover.
Growth that comes with greater manufacturing capabilities.
Growth of product portfolio.
Growth in market share.
Growth in terms of stature, of respect gained across the world.
Lastly, but not the least, growth in terms of milestones.
At Beetel, they believe that
directions to the future can be found if they look at their past. Straddling a
balance of tradition and modernity, the company has crossed almost every
milestone the telecom world has to offer. Their path has never been that of a
follower, but rather of a pioneer who breaks new grounds as a habit. The same
theory was implemented when they set up their cutting-edge R&D unit
(recognized by Dept. of Scientific & Industrial Research, Govt. of India)
and started innovating and coming up with technologies that were ahead of time.
Over the years, Beetel has lived up
to the promises made and has often delivered beyond it. That speaks for the
company's strong work ethics and principles that they assiduously follow. For
they believe that prosperity and success are not ends, but means that lead to
even greater triumphs.
VALUES
I AM PROUD TO BE BHARTI
"It's
about an energised team.
It's about initiatives that build the future.
It's about strengthening resolves to manage change.
It's about speed of response by getting there first.
It's about working together as one.
Reaching out.
Touching.
Communicating.
Building telecom.
Building partnerships.
To build a better world."
BHARTI VALUES
They
will meet global standards for products and services that delight customers
through:
- Customer
service focus
- Empowered employees
- Innovative products and services.
- Cost efficiency.
CUSTOMER
They
will be responsive to the needs of their customers.
PEOPLE
They
will trust and respect their employees.
LEARNING
They
will continuously improve their products and services- innovatively and
expeditiously.
COMMUNITY
& PARTNERS
They
will be transparent and sensitive in their dealings with all stakeholders.
CAPABILITIES
R&D Strengths
- Bringing out new models of telephones with new
advanced features like Caller ID, two-way speakerphone, phone book, 2-line
phone, backlit display, battery back-up etc.
- Customized design based on specific customer
requirements like phone for Bank ATM (with Auto Dial Lock facilities).
- Phones compatible with Private Service Provider's
network like BTNL, TATA TELESERVICES, HUGHES, SHYAM , HFCL etc.
- Phones specific to International market requirements
meeting different countries specifications.
Phones designed for BSNL/MTNL as per Indian PTT specifications. - Value
addition in the existing models in terms of quality, features and
competitiveness.
Staff
Capabilities
All
these supported by following highly qualified professional teams
- Electronics
Engineering Team which design circuits as per customer requirements,
design PCB using design software, test these circuits by developing
prototypes as per specifications & convert these designs into
successful products.
- Mechanical Engineering Team which uses high end
design software like Unigraphics (CAD/CAM/CAE) for development of
aesthetics appealing designs, generate all mechanical drawings, plastics
related mould improvements & custom parts development.
These
capabilities provide an edge to company in the competitive market & also
provide ability to adapt to the ever-changing market situations.
FACILITIES
- In
house industrial & engineering design by using Unigraphics
(CAD/CAM/CAE) design Software.
- In house Embedded software development setup.
- In house PCB design setup.
- Specific test equipments such as PTT specifications
simulator (Microtronix test machine).
- Environmental test laboratory for conducting
reliability and life tests.
- In house library for technical manuals - PTT specifications
of different countries, Internet browsing etc.
- R&D
facilities fully equipped to suit any PTT/Telecom specifications
conforming to 'UL', 'FCC', 'ETL' and 'EC' standards.
ACHIEVEMENTS
The model Millennium Clip Max (A
high end Caller ID and Two way speaker phone) recently launched in the market
WON a GOLDEN PEACOCK AWARD for INNOVATIVE DESIGN.
Following are the new products
recently introduced in the open market
DB 7000 -
CLI Phone with Ocean Blue Backlit Display
DF
7200 - CLI phone with Green Backlit Display
DB
7400 - CLI Phone with largest Display Screen
CB 53000 -
2.4 GHz cordless phone that give extra range and better sound quality
CB 54000 -
2.4 GHz cordless phone that give extra range and better sound quality
Following are the new products
recently introduced for the DOT market as per new TEC specifications (GTEL-02/04);
all these models are GSM interference free.
- IRIS 2K3
- GARNET
- PERIDOT (A CLI PHONE)
Beside
this company has maintained its leadership in all chosen markets like PSP, DOT,
OPEN MARKET & EXPORT (exporting to 30 countries across five continents world
wide).
DOMESTIC
After years
of careful and focused brand-building, Beetel is recognised as a trusted brand
in India and is poised to take on global players in the most competitive
international markets.
Beetel was the first Indian brand to
launch caller ID phones in India and the first to bring down the price of
cordless phones to an affordable range at below Rs. 2000.
Beetel has also pioneered SMS
phones, the first in India. With this landmark development, India now has the
pride of joining the select set of countries that offer SMS on and from
fixed-line telephony service platform worldwide.
For the consumer in India, Beetel is
truly ringing in the future.
Indian PTT has accepted Beetel
instruments whole heartedly and the brand has a 60% share in this market.
The private service providers have
shown great faith in Beetel's products and appreciate the company's ability to
customise the phones to their specifications. Beetel has garnered over 95% of
this market.
Beetel has remained the No. 1 brand
in the Indian retail market, with a market share of over 50 %.
The company's marketing network encompasses over 250 distributors and over
12,000 dealers, taking Beetel phones to every corner of one of the biggest
markets in the world.
INTERNATIONAL
After years
of careful and focused brand-building, Beetel is recognized as a trusted brand
in India and is poised to take on global players in the most competitive
international markets.
Overseas, the company has a richly
diversified customer base in over 30 countries across five continents. The
markets include the USA, South America, Eastern Europe, the Middle East, South
East Asia and Africa. Telephone instruments are supplied to Siemens, Akai,
Connair and the Sprint Group in the USA among many others.
The Electronics and Computer
Hardware Export Promotion Council conferred upon Bharti Teletech, the award for
the Top Telephone Instrument Exporter.
The company exemplifies a marketing
success story that writes new chapters of achievement with each passing year.
QUALITY ACHIEVEMENTS
Bharti
Teletech Limited is a Quality Conscious organization & continuously Strives
for Quality Improvement through Process Management. Some of the achievements
which have come out of company's unstinted faith in investing for quality are :
- One
of the largest telephone manufacturers in the globe & among the top
ten companies in the Globe with two ISO 9001:2000 certified plants.
- 1 out of 2 phones is Beetel phone in India
- Exports to over 30 countries across 5 continents. In pursuit
of building an international brand
- Winner of Golden Peacock Award for innovative
product/service category in telecom category in Yr 2002
- Winner of excellence in exports Award.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets theyre seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject is
not known to have contravened any existing local laws, regulations or policies
that prohibit, restrict or otherwise affect the terms and conditions that could
be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.46.20 |
|
UK
Pound |
1 |
Rs.84.57 |
|
Euro |
1 |
Rs.58.12 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong) capability
for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |