MIRA
INFORM REPORT
|
Report Date : |
24.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TATA
TELESERVICES LIMITED |
|
|
|
|
Registered Office : |
10th Floor, Tower No. 1, Jeewan Bharti,
124, Connaught Circus, New Delhi – 110 001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
23.03.1995 |
|
|
|
|
Com. Reg. No.: |
55-66685 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1995PLC066685 |
|
|
|
|
Legal Form : |
A closely held public limited liability company. |
|
|
|
|
Line of Business : |
Telecom Service Provider. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
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|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of Tata Group, Country’s premier industrial
house. However, subject is not doing well at present having substantial
accumulated losses. Its' financial
position has become difficult as substantial networth has already been
eroded. Thus, company's payments may
be affected. In view of the aforesaid, it would be advisable to deal with the
company on safe and secured trade terms and conditions preferably with the
guarantees from respectable banks or institutions. |
LOCATIONS
|
Registered Office : |
10th Floor, Tower No. 1, Jeewan Bharti,
124, Connaught Circus, New Delhi – 110 001, India |
|
Tel. No.: |
91–11–2332 7072 To 76 |
|
Fax No.: |
91–11–2332 6265 |
|
E-Mail : |
|
|
Website : |
1. http://www.tata.com/tata-teleservices 2. http://www.tataindicom.com |
|
Location : |
Owned
Commercial |
|
|
|
|
Head
Office : |
5-9-62 Khan Lateef Khan Estate, Fateh Maidan Road, Hyderabad-
500 001, Andhra Pradesh |
|
Tel.
No.: |
91-40-55551010 |
|
Fax
No.: |
91-40-55553339 |
|
|
|
|
Corporate
Office : |
Paville House, 1st Floor, Off. Veer
Savarkar Marg, Rational House, Appasaheb Marathe Marg, Prabhadevi, Mumbai -
400 025, Maharashtra |
|
Tel.
No.: |
91-22-56671111 |
|
Fax
No.: |
91-22-56606325 |
|
E-Mail
: |
|
|
|
|
|
Other
Offices : |
East Zone West Bengal -
Kolkata C/O, Videsh Sanchar Bhawan, Rest of West Bengal
TATA Teleservices Limited,
Unit No. B-402,403,404,405B, Orissa -
Bhubaneshwar Fortune Tower, 101, Chandi House, Gujarat - Ahmedabad Gujarat Bhavan, Madhya Pradesh -
Bhopal Kwality Globus, Maharashtra -
Mumbai Tata Teleservices (M) Limited, Rest of Maharashtra Al - Aqmar, Opp. Sancheti
Hospital, Andhra Pradesh -
Hyderabad #5-9-62, Khan Lateef Khan
Estate, Kerala - Kochi SL Plaza, Karnataka -
Bangalore C-Block, Tamil Nadu -
Chennai Paras Tower, 2, 3 & 4
Thiruvika Road, Rajasthan - Jaipur The Guman - 1, Delhi - Delhi 2A,Old Ishwar Nagar, UP East - Lucknow 2,R.F. Bahadurji Marg(Behind
Shakti Bhawan), UP West - Meerut Tata Teleservices Limited,
501, Punjab - Mohali Tata Teleservice Limited, Haryana - Rohtak Ashoka Plaza, Himachal Pradesh -
Shimla Hari Villa, |
DIRECTORS
|
Name : |
Mr.
Ramakrishnan Sowmyan |
|
Designation : |
Managing
Directsor |
|
Address : |
Flat #
103, Park View Enclave, Road No. 2, Banjara, Hyderabad - 500033, Andhra Pradesh |
|
Date of Birth/Age : |
19.02.1949 |
|
Date of Appointment : |
23.03.1995
[As Director] 01.10.1999
[As Managing Director] |
|
Date of Ceasing : |
01.10.2004 |
|
|
|
|
Name : |
Mr.
Chaukar Anant Kishor |
|
Designation : |
Director
|
|
Address : |
21A,
The Peregrine Apartments, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
|
Date of Birth/Age : |
01.08.1947 |
|
Date of Appointment : |
23.03.1999 |
|
|
|
|
Name : |
Mr.
Gopalakrishnan Ramabadran |
|
Designation : |
Director
|
|
Address : |
21 A,
Capt. Prakash Pethe marg, Cuffe Parade, Mumbai, Maharashtra |
|
Date of Birth/Age : |
25.12.1945 |
|
Date of Appointment : |
29.09.199 |
|
|
|
|
Name : |
Mr.
Hussain Ishaat |
|
Designation : |
Director
|
|
Address : |
Flat
No. 222, 22nd Floor, B Wing, NCPA Residential Apartments, Sri
Dorab Tata Road, Nariman Point, Mumbai, Maharashtra |
|
Date of Birth/Age : |
02.09.1947 |
|
Date of Appointment : |
23.03.1995 |
|
|
|
|
Name : |
Mr. N
S Ramachandran |
|
Designation : |
Director
|
|
Address : |
B-2015,
Krest park, Kanakapura Road, Basavanagudi, Bangalore – 560004, Karnataka |
|
Date of Birth/Age : |
25.03.1939 |
|
Date of Appointment : |
05.12.2000 |
|
|
|
|
Name : |
Dr. J
J Irani |
|
Designation : |
Director
|
|
Address : |
24
Homi Mody Street, Mumbai – 400001, Maharashtra |
|
Date of Birth/Age : |
02.06.1936 |
|
Date of Appointment : |
27.09.2001 |
|
|
|
|
Name : |
Mr. F
A Vandrevala |
|
Designation : |
Director
|
|
Address : |
71,
NCPA Residential Apartments, Sri Dorab Tata Road, Nariman Point, Mumbai,
Maharashtra |
|
Date of Birth/Age : |
17.10.1950 |
|
Date of Appointment : |
21.03.2002 |
|
|
|
|
Name : |
Mr. N.
Srinath |
|
Designation : |
Director
|
|
Address : |
8th
Floor, 17th Hill Road, Bandra [West], Mumbai 400050, Maharashtra,
India |
|
Date of Birth/Age : |
08.07.1962 |
|
Date of Appointment : |
17.01.2003 |
|
|
|
|
Name : |
Mr. S
K Gupta |
|
Designation : |
Director
|
|
Address : |
4 B,
Sett Minar, Opposite Jaslok Hospital, Peddar Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
09.09.1942 |
|
Date of Appointment : |
17.01.2003 |
|
|
|
|
Name : |
Mr.
Mukund Govind Rajan |
|
Designation : |
Director
|
|
Address : |
1-B,
Jiwan, 11, LD Ruparel Marg, Malabar Hill, Mumbai, Maharashtra |
|
Date of Birth/Age : |
05.04.1968 |
|
Date of Appointment : |
15.09.2004 |
|
|
|
|
Name : |
Mr. S.
Ramadorai |
|
Designation : |
Director
|
|
Address : |
103/104,
Sagar Darshan, Worli Seaface, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1944 |
|
Date of Appointment : |
11.10.2004 |
|
|
|
|
Name : |
Mr.
Venkatesan S R |
|
Designation : |
Director
|
|
Address : |
Plot
No. 38, Osmania University, Teachers Colony, Sainikpuri, Hyderabad – 500094,
Andhra Pradesh, India |
|
Date of Birth/Age : |
20.08.1957 |
|
Date of Appointment : |
01.09.2000 |
|
|
|
|
Name : |
Late
Sri Naval H Tata |
|
Designation : |
Director
|
|
Address : |
202A,
Bakhtavar, Lower Colaba Road, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1937 |
|
Date of Appointment : |
22.09.2006 |
|
|
|
|
Name : |
Mr.
Santosh Kejriwal |
|
Designation : |
Director
|
|
Address : |
Prabhat
Building 3rd Floor, B Road, Churchgate, Mumbai – 400020,
Maharashtra, India |
|
Date of Birth/Age : |
08.11.1968 |
|
Date of Appointment : |
22.09.2006 |
|
Directorship of Other Company : |
Temasek
Holdings Advisors India Private Limited Bajaj
Auto Limited |
|
|
|
|
Name : |
Mr. Ratan N. Tata |
|
Designation : |
Chairman |
KEY EXECUTIVES
|
Name
: |
Mr.
Ramaswamy Venkatesan Sekharipuram |
|
Designation
: |
Company
Secretary |
|
Address
: |
Plot
No. 38, Out Colony, Sainikpuri, Hyderabad – 500094, Andhra Pradesh, India |
|
Date
of Birth/Age : |
20.08.1957 |
|
Date of Appointment : |
01.09.200 |
|
|
|
|
Name : |
Mr.
Vinayak Kashinath Deshpande |
|
Designation : |
Manager
|
|
Address : |
Samundra
Mahal, 209, 9th Floor, AB Road, Worli, Mumbai - 400018 Maharashtra,
India |
|
Date of Birth/Age : |
21.07.1957 |
|
Date of Appointment : |
01.04.2006 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Tata Industries Limited, Mumbai |
|
416589800 |
|
Tata Iron & Steel Company Limited |
|
136800456 |
|
Tata
Motors Limited |
|
22000200 |
|
Tata Chemicals Limited |
|
2513039 |
|
The
Tata Power Company Limited |
|
684000000 |
|
Mr. S
H Rajadhyksha Jointly held with Tata Industries
Limited |
|
100 |
|
Mr. N
J Driver Jointly held with Tata Industries Limited |
|
100 |
|
Auric
Agencies Private Limited |
|
250000 |
|
Tata
Sons Limited |
|
2526298140 |
|
Videsh
Sanchar Nigam Limited |
|
952812000 |
|
Desai
Brothers Limited |
|
318258 |
|
Tata
Tea Limited |
|
20000000 |
|
Sterling
Investments Corporation Private Limited |
|
16700000 |
|
Kalimati
Investments Company Limtied |
|
3333000 |
|
Tata
Investment Corporation Limited |
|
10000000 |
|
Mr.
Ratan N Tata |
|
1400000 |
|
Tata
Simone Naval Jointly held with Noel Naval Tata |
|
1330000 |
|
Mr.
Noel Naval Tata |
|
3650000 |
|
Mr.
Jimmy Mimocher Tata |
|
140000 |
|
Mrs.
Piloo Minocher Tata |
|
200000 |
|
Vera
Farhad Choksey |
|
140000 |
|
SBM
Chemicals and Investments Private Limited
|
|
91805 |
|
Mr.
Rajan Gupta |
|
64099 |
|
|
|
|
|
|
|
No. of Preference
Shares |
|
Tata
Sons Limited |
|
406231947 |
|
IL and
FS Trust Company Limited |
|
197958788 |
|
Standard
Chartered Bank Limited |
|
162810087 |
|
Tata
Iron and Steel Company Limited |
|
68354569 |
|
Tata
Teleservices Limited |
|
9990 |
BUSINESS DETAILS
|
Line of Business : |
Telecom Service Provider. |
|
|
|
|
Imports from : |
Components and spares from Japan, Germany, Korea and Singapore |
|
|
|
GENERAL
INFORMATION
|
No. of Employees : |
5500 |
|
|
|
|
Bankers : |
Finance Branch, MWO Building, First Floor, Fort Mumbai,
Maharashtra
Central Office, Merchant Banking Division Maker Tower – F, 11th Floor, Cuffe
Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
|
|
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
S. R. Batliboi and Associates Chartered Accountants Divyashree Chambers, ‘A’ Wing, Second Floor, Langford Road,
Bangalore – 560025, Karnataka |
|
Tel. No.: |
91-80-22245646/51146600 |
|
Fax No.: |
91-80-22240695 |
|
|
|
|
Associates/Subsidiaries : |
Wireless
– TT Info Services Limited CIN
No.: U72200AP2004PLC042926 Tata Internet Services Limited CIN
no.: U72900DL1999PTC100313 v
Tata Power Company Limited, India v
Tata Iron and Steel Company Limited, India v
Tata Engineering and Locomotive Company Limited, India v
Tata Finance Limited, India v
Tata Industries Limited, India v
Tata Teleservices (Maharashtra) Limited Ispat House, B. G. Kher Marg,
Worli, Mumbai – 400018, Maharashtra |
|
|
|
|
Holding Company : |
Tata Sons Limited, India CIN No.: L99999MH1917PLC000478 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
7513682100 |
Equity
Shares |
Rs. 10/- each |
Rs. 75136.821 Millions |
|
2336317900 |
Preference
Shares |
Rs. 10/- each |
Rs. 23363.179 Millions |
|
5150000000 |
Unclassified
Shares |
Rs. 10/- each |
Rs. 51500.000 Millions |
|
|
Total |
|
Rs. 150000.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
6103031073 |
Equity
Shares |
Rs. 10/- each |
Rs. 61030.311 Millions |
|
835355391 |
Preference
Shares |
Rs. 10/- each |
Rs. 8353.554 Millions |
|
|
Total |
|
Rs. 69383.865
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
67383.865 |
50446.808 |
37817.560 |
|
|
2] Share Application Money |
0.000 |
0.000 |
740.000 |
|
|
3] Reserves & Surplus |
15820.110 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
[52982.527] |
[34200.357] |
[17559.740] |
|
|
NETWORTH |
30221.448 |
16246.451 |
20997.820 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
64229.920 |
57377.546 |
21331.700 |
|
|
2] Unsecured Loans |
0.000 |
1770.500 |
12287.310 |
|
|
TOTAL BORROWING |
64229.920 |
59148.046 |
33619.010 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
94451.368 |
75394.497 |
54616.830 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
75142.474 |
61028.177 |
20962.200 |
|
|
Capital work-in-progress |
8024.700 |
9894.200 |
8179.980 |
|
|
|
|
|
|
|
|
INVESTMENT |
6205.898 |
5756.942 |
5428.530 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
12.450 |
|
|
Sundry Debtors |
3182.966
|
2404.400 |
1847.930 |
|
|
Cash & Bank Balances |
11126.401
|
1825.800 |
3903.610 |
|
|
Other Current Assets |
0.000
|
0.000 |
12619.850 |
|
|
Loans & Advances |
9095.537
|
8096.575 |
5536.710 |
|
Total Current Assets |
23404.904
|
12326.775 |
23920.550 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
19064.699
|
14103.100 |
5939.040 |
|
|
Provisions |
1664.126
|
2274.000 |
782.740 |
|
Total Current Liabilities |
20728.825
|
16377.100 |
6721.780 |
|
|
Net Current Assets |
2676.079
|
[4050.325] |
17198.770 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2402.217 |
2765.503 |
2847.350 |
|
|
|
|
|
|
|
|
TOTAL |
94451.368 |
75394.497 |
54616.830 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
25992.887 |
13667.217 |
8009.040 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
[18718.875] |
[16640.721] |
(7864.060) |
|
Provision
for Taxation |
63.195 |
-- |
9695.680 |
|
Profit/(Loss)
After Tax |
[18782.070] |
[16640.721] |
(17559.740) |
|
|
|
|
|
|
Export
Value |
NA |
780.000 |
NA |
|
|
|
|
|
|
Import
Value |
NA |
NA |
4772.740 |
|
|
|
|
|
|
Total
Expenditure |
44711.762 |
30307.938 |
9802.230 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
(72.26)
|
(121.76) |
(219.25) |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
(72.02)
|
(121.76) |
(100.97) |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
(18.99)
|
(22.69) |
(9.97) |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
(0.62)
|
(1.02) |
(0.20) |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
2.81
|
4.65 |
1.05 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.13
|
0.75 |
1.68 |
LOCAL AGENCY
FURTHER INFORMATION
|
Corporate
identity number of the company |
L74899DL1995PLC066685 |
|
Name
of the company |
TATA
TELESERVICES LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
10th Floor, Tower No. 1, Jeewan Bharti,
124, Connaught Circus, New Delhi – 110 001 |
|
This
form is for |
Modification
of Charged |
|
Type
of charge |
Equitable mortgage or mortgage of property by deposition the title deeds |
|
Particular
of charge holder |
UTI Bank Limited Central Office, Merchant Banking Division Maker Tower – F, 11th Floor, Cuffe
Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
Amount
secured by the charge |
Rs.
6165.000 Millions |
|
Brief
of the principal terms an conditions and extent and operation of the charge |
No
Instrument was executed. A mortgage by deposit of title deeds was created by
the company in facour of the security trustee in respect of the immovable properties. |
|
Description
of the property charged indicating whether it is a charged on |
Plant
and Machinery, Book debts, Immovable Property, Book debts and Intangible assets |
|
Charge
identification number of the charge to be modified |
80000897 |
|
Corporate
identity number of the company |
L74899DL1995PLC066685 |
|
Name
of the company |
TATA
TELESERVICES LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
10th Floor, Tower No. 1, Jeewan Bharti,
124, Connaught Circus, New Delhi – 110 001 |
|
This
form is for |
Modification
of Charged |
|
Type
of charge |
Equitable mortgage or mortgage of property by deposition the title deeds |
|
Particular
of charge holder |
UTI Bank Limited Central Office, Merchant Banking Division Maker Tower – F, 11th Floor, Cuffe
Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
Amount
secured by the charge |
Rs.
88.445 Millions |
|
Date
of instrument Creating the charge |
25.03.2006 |
|
Brief
of the principal terms an conditions and extent and operation of the charge |
No
Instrument was executed. A mortgage by deposit of title deeds was created by
the company in facour of the security trustee in respect of the immovable properties. |
|
Description
of the property charged indicating whether it is a charged on |
Plant
and Machinery, Book debts, Immovable Property, Book debts and Intangible assets |
|
Charge
identification number of the charge to be modified |
80000897 |
HISTORY
Subject was incorporated on 23rd March, 1995 at New
Delhi having Company Registration Number 66685.
In connection with as to how it’s customers would be affected with
new number scheme, explanation is mobile customers would have to prefix 92xx
instead of their first two digits, which would be 5x. They will be informed
through text messages, mailers and newspaper ads. It may be pointed out that
after subject migrated its basic licences to unified access licences, DoT had
made it mandatory for the company to shift to 10-digit numbering scheme
starting with 9. Earlier, its limited mobility subscribers were on an 8-digit
numbering scheme starting with 5.
On it’s plan to launch
push-to-talk (PTT) technology-based
handsets, it was working out the details of handset prices.
It plans to launch PTT services with Motorola and Kyocera
handsets. PTT technology enables two-way radio like features in cell phone. PTT
enables group calling, that is one person can talk simultaneously to a group of
people, by pushing one button on the cell phone instead of dialling any number.
PTT handsets have one extra button as compared to other normal cellphone
handsets. In this technology, while one-person talks, other(s) listen. Benefits
of PTT include instant contact, timesavings and relatively lesser charges.
Close on the heels of Bharti Cellular, Mahanagar Telephone Nigam
(MTNL) and Bharat Sanchar Nigam (BSNL) marketing initiatives for the festive
season, it has also slashed rates for international long distance (ILD) tariffs
up to 70 per cent for calls to the US, Canada and Europe.
Tata Indicom mobile customers can now call the US, Canada and Europe at Rs 8
per minute at a pulse rate of 60 seconds.
While Bharti’s offer of reduced rates was valid for three days during Diwali,
Tata Teleservices, MTNL and BSNL’s offer was valid for a month.
Tata Teleservices also offers a special rate for calls to the United Kingdom,
which is at Rs 7.2 per minute.
The pulse rate for calls to the UK would be 10 seconds while that for US,
Canada and rest of Europe would be 7.5 seconds.
S Ramakrishnan, managing director, Tata Teleservices said: “These special
promotional tariffs are being offered specially with a view to enable the Tata
Indicom family to seamlessly access their family, friends and associates
overseas during this festive season.”
It offers integrated telecom solutions to its customer under the Tata Indicom
brand and is using the latest CDMA 3G1X technology for its wireless networks.
Currently it operates in six circles and has a customer base of over one
million.
The company is part of the Rs. 540000 millions (US$11.2 billion)
Tata Group, that has over 90 companies, over 2,10,000 employees and more than
2.16 million shareholders. With an investment of over Rs. 90,000 millions (US$
2 billion) in Telecom, the Group has a formidable presence across the telecom
value chain. The Tata Group plans an additional investment of around Rs. 90,000
millions (US$ 2 billion) in this sector in the next two years.
The company spearheads the Group's presence in the telecom sector.
Incorporated in 1996, Tata Teleservices was the first to launch Mobile services
in India in the Andhra Pradesh circle.
The company offers services under the brand name 'Tata Indicom' in
eight key Indian circles of Andhra Pradesh, Delhi, Gujarat, Karnataka,
Maharashtra, Mumbai, Tamil Nadu and Chennai comprising 70% of the telecom
revenue potential of the country.
Starting with the major acquisition of Hughes Telecom (India)
Limited [now renamed Tata Teleservices (Maharashtra) Limited in December 2002,
the company has swung into expansion mode. The company has recently acquired a
Universal Access Service License (UASL) for 12 new circles. The new circles are
Bihar, Haryana, Himachal Pradesh, Kerala, Kolkata, Madhya Pradesh, Orissa,
Punjab, Rajasthan, Uttar Pradesh (East), Uttar Pradesh (West) and West Bengal.
The company plans to launch its services in the new circles by December 2004.
The investment in the company as of March 2004 totals Rs. 59950 millions (US$
120 million).
milestones
April, 2004
The company launched Tata Indicom Prepay Service on Smart Wireless
Service in New Delhi and Hyderabad, which offers up to 25% savings on monthly
usage.
March, 2004
QUALCOMM and Tata Teleservices Announce Plans to Offer Wireless
Applications and Services Via BREW™ and BREWChat Solutions.
February, 2004
Tata Indicom Subscribers can now send International SMS across 174
countries and 533 operators.
Tata Indicom launches SMS based entertainment and infotainment services with
8282 Service and Indiatimes 8887/8888 Service.
January, 2004
Tata Indicom crossed the half million-customer mark in the Fixed
Wireless segment by registering over 300% growth in its Fixed Wireless customer
base since January 2003. With over half million Fixed Wireless retail customers
and over 30,000 Fixed Wireless payphones, Tata Indicom continues to be the
leader in the Fixed Wireless segment.
National SMS service launched across the six circles.
Tata Indicom launches roaming services across 5 circles.
September, 2003
Tata Teleservices (AP circle) is rated as one of the "Great
Places to Work" in a Business World survey (Business World - Sept 1,
2003).
Outlook Money (August 22, 2003 issue) rates Tata Indicom's Economy
450 as the best mobile deal.
August, 2003
Tata Indicom customer base crosses 800,000. CDMA Mobile Service
launched in Maharashtra.
March, 2003
Tata Indicom customer base crosses 500,000
More than half a million people across the nation are now
satisfied customers of Tata Indicom.
December, 2002
Tata Indicom Launched in Delhi and Gujarat
The company spreads its service network to the national capital
and Gujarat. Services inaugurated by the then minister of Information
technology Mr. Pramod Mahajan.
November, 2002
Tata Indicom Launch in Tamilnadu and Karnataka
The company unveils its new brand Tata Indicom while launching its
services (CDMA Mobile, Basic phone Connections) in Tamilnadu and Karnataka.
July, 2002
The company crosses 0.200 million customers.
Once again Team AP exceeds all expectations by reaching 0.200
million customers ahead of schedule. The records keep falling by the wayside as
Team AP moves ever onwards.
June, 2002
Acquisition of Hughes Tele.com
The company acquires Hughes telecom, a company which had a strong
presence in basic telephony in the states of Maharashtra & Goa.
June, 2002
Record 1000 VPT's Installed
December, 2001
To provide customers with enhanced customer service and
convenience, the company launched "ihelp" - an Interactive Voice
Response System.
The company is among the first three private basic telecom service
provider in the country, to be awarded the Letter of Intent(LoI) to provide
basic telecom services in 15 other states of India.
First private basic telecom service provider in the country to
commercially launch limited mobility services - Tata Indicom CDMA Mobile.
Crossed the 50,000 landmark by January 2001.
Launched basic services in the city of Guntur on January 20, 2001.
December, 1999
First private basic telecom service provider to launch services in
the state of Andhra Pradesh on 31st March 1999.
The first private telephone services provider in the country to
offer Centrex to its customers.
Launched basic services in the city of Vijayawada on August 18,
1999.
December, 1998
First to introduce the concept of Smart Card Technology in Pay
Telephone business. The company has signed up with Schlumberger of France to
establish their payphone network. Schlumberger of France works with over 70
telecom companies worldwide and enjoys over 25% of the Smart Card payphone
market segment.
December, 1997
Licence agreement signed with DOT for operating basic telephone
services in the circle of Andhra Pradesh on November 4, 1997.
December, 1996
Letter of Intent (LOI) issued to the company in March 13, 1996 to
provide basic telephone services in the state of Andhra Pradesh.
The company becomes the first and only private basic service
operator in the country to complete the installation of 1000 Village Public
Telephones in a circle.
The Company offers integrated telecom solutions to its customers
under the Tata Indicom brand, and uses the latest CDMA2000 1X technology for
its wireless network.
The company is a joint venture between Tatas and Bell Canada
International, has the mandate to provide basic telecom services in the urban
and rural areas of Andhra Pradesh and also sale of public telephony equipment
& accessories.
Its services will complement and also compete with those currently
provided by the Department of Telecommunications, Government of India.
The core networks will comprise advanced technology digital
exchanges with augmented capabilities linked together by optic fibre
cables. The services will entail
telephony, facsimile, ISDN and would, in the second phase include voice mail,
e-mail, Internet access and data services.
The impending convergence of telecommunications, computing and mobility
will be addressed by developing synergy with the company, a cellular mobile
service provider in Andhra Pradesh.
It does not export and provide services to the customers in India.
Company
Profile
Promoted by Tata Industries and launched in March 1999, subject is
private operators in the telecom business, delivering basic telephony services
in six key.
Indian states. Since end-2002 the company has been operating under
the ambit of Tata Indicom, the new brand for all the services offered by the
telecom businesses of the Tata Group.
Tata Indicom, which provides wire line, fixed wireless and CDMA
mobile connections, has over 6,68,000
‘direct exchange lines’ across Andhra Pradesh, Tamil Nadu, Karnataka, Delhi,
Gujarat and Maharashtra, the last of which was taken over from Hughes Tele.com.
These circles currently account for 56 per cent of India’s subscriber base and
65 per cent of the country’s telecom revenues.
Subject was the first basic service provider to start limited
mobility services in India. Launched in March 2001 in Andhra Pradesh under the
brand name Tata Mobitel, this service, currently called Tata Indicom Mobile,
has a customer base of 1,47,000. In addition to Andhra Pradesh, where it has
over 100,000 customers, Tata Indicom Mobile services are now available in Tamil
Nadu, Karnataka, Gujarat and Delhi. These services will soon be available in
Maharashtra too.
Tata Indicom launched Net Ready, India’s first post-paid Internet
service, on August 28, 2001. It has more than 32,500 public phones, including
village pay telephones. Tata Indicom’s booths are the first in India to operate
on the smart (Card) technology. These booths offer privacy, comfort and a
reliable billing system, and operators
benefit from using the smart card to the last rupee.
The company spearheads the Tata Group's presence in the Indian
telecom sector.
Incorporated in 1996, the company was the first to launch CDMA
mobile services in India with the Andhra Pradesh circle.
The company offers services under the brand name 'Tata Indicom' in the eight
key circles of Andhra Pradesh, Delhi, Gujarat, Karnataka, Maharashtra, Mumbai,
Tamilnadu and Chennai, comprising 70 per cent of the telecom revenue potential
of the country.
With the major acquisition of Hughes Tele.com (India) Limited [now Tata
Teleservices (Maharashtra) Limited] in December 2002, the company swung into
expansion mode. The company recently acquired a universal access service license
for 11 new circles — Bihar, Haryana, Himachal Pradesh, Kerala, Kolkata, Orissa,
Punjab, Rajasthan, Uttar Pradesh (East), Uttar Pradesh (West) and West Bengal.
The company plans to launch its services in the new circles by September 2004.
The company, which heralded convergence technologies in the Indian telecom
sector, is today the market leader in the fixed wireless telephony market with
a customer base of over 0.630 million. The company has a strong workforce of
5,500 and with the launch of its new circles is expecting to create more than
20,000 jobs by March 2005.
Today, the company serves 1.600 million customers in over 50 towns. With an
ambitious rollout plan both within existing circles and across new circles, of
the company will offer world-class technology and user-friendly services to
over 1,000 cities in 19 circles by March 2005.
Areas of business
Having
pioneered the CDMA 3G1x technology platform in India, Tata Teleservices has
established a robust and reliable telecom infrastructure that ensures quality
in its services. It has also partnered with global players like Motorola,
Ericsson, Lucent and ECI Telecom for the deployment of a reliable and
technologically advanced network.
The company’s bouquet of telephony services includes mobile services, fixed
wireless phones (FWP), public booth telephony and wireline services. Other
services include value added services like voice portal, roaming, post-paid
Internet services, 3-way conferencing, CUG, Wi-Fi Internet services and data
services.
The company also has plans to launch prepaid FWP and public phone booths, new
handsets, Push-To-Talk services (first across the world to partner with
Qualcomm for BREWChat), expand Wi-Fi across public hotspots, new voice and data
services such as Java and BREW games, picture messaging, polyphonic ring tones
and interactive applications like news, cricket and astrology.
press
clippings
Tata Teleservices has announced the launch of Wi-Fi Services at domestic and international
airports at New Delhi. According to the press release, Tata Indicom has entered
into an agreement with Airport Authority of India (AAI), to provide its Wi-Fi
services which will enable travelers to have an access to high-speed wire free
Internet while they are traveling and are away from their homes/offices. The
agreement makes New Delhi airport the first airport to commercially deploy
Wi-Fi in India.
Tata Indicom has commercially launched Wi-Fi at both Domestic and
International Airports in New Delhi and air travelers can now access these
services while they are in transit. The major hotspots amongst are Jet, Sahara,
Air India lounge and hotel lounges like Sahara, ITC Sheraton, Taj Lounge to
name a few.
To avail of Tata Indicom's high-speed wire-free Internet facility,
customers need a Wi-Fi compatible (Wi-Fi 802.11b) laptop or handheld device. In
case customer's laptop is not Wi-Fi enabled, they can avail the Wi-Fi card
(also called as PCMCI Card), which may be borrowed from Cyber attendants at the
airport. Wi-Fi networks are also installed in busy public places like coffee
shops, hotels, airport lounges and other locations.
Airport authority of India director PS Nair said, "Airports
are the place where the world meets and initiatives will grow by leaps and
bounds as more and more travelers and mobile professionals clamour for fast and
secure Internet access. We are proud to be associated with Tata Indicom and
this venture will make Delhi domestic and international airport the first of
its kind in the city to offer wireless Internet services and we are confident
that Wi-Fi services will be appreciated by our passengers also."
TUESDAY MAY 18, 2004
Lucent to provide equipment, software and services to increase
coverage and capacity of China Unicom's CDMA networks in Shandong, Hubei, Inner
Mongolia and Shaanxi
BEIJING - Lucent Technologies (NYSE: LU) today announced it has
been awarded more than $120 million worth of contracts to support China
Unicom's CDMA network expansion in Shandong, Hubei, Inner Mongolia and Shaanxi.
Lucent will provide equipment, software and services to increase the coverage
and capacity of China Unicom's CDMA networks in these markets.
These contracts underscore Lucent’s leadership in the CDMA market
and reaffirm its strong relationship with China Unicom. Lucent will supply
CDMA2000 1X equipment, including base stations and switches, that
will increase voice capacity and enable China Unicom to deliver a variety of
value-added mobile high-speed data services such as video-on-demand, video
streaming and high-speed Internet access to more subscribers.
"These agreements demonstrate the confidence that China
Unicom has in Lucent’s technology and our ability to provide them with
exceptional support in China," said Cindy Christy, president of Lucent’s
Mobility Solutions Group. "We are honored to be selected by China Unicom
to support this next phase of its CDMA network expansion, and we are committed
to providing the most innovative technologies, solutions and services to meet
their needs today and in the future."
China Unicom's CDMA network currently provides service to more
than 23 million subscribers. With the expansion projects, China Unicom will be
able to leverage the advantages of CDMA2000 technology and lay a solid
foundation for the upcoming third-generation (3G) network deployments in China.
Lucent has been working with China Unicom on its CDMA network
since May 2001. Earlier this year, China Unicom awarded Lucent contracts for
phase III of its CDMA2000 mobile network expansion.
Backed by Bell Labs innovations, Lucent is the global market
leader in CDMA technologies. Lucent’s
CDMA2000 solutions are designed to evolve to support higher-speed 3G
data services, protecting existing infrastructure investments. Lucent has
deployed more than 90,000 spread-spectrum CDMA base stations in commercial
networks worldwide, of which more than 50,000 support 3G services.
Financial Services:
v Tata Finance
v Tata-AIG General
Insurance
v Tata-AIG Life
Insurance
v Tata Investment
Corporation
v Tata Shares Registry
v Tata TD Asset
Management
International Operations:
v
Tata International
Other Services:
v Tata Economic
Consultancy Services
v Tata Financial
Services
v Tata Strategic
Management Group
v Tata Services
Tata
Teleservices is part of the INR 769290 Millions (US$17.8 billion) Tata
Group, that has over 90 companies, over 220,000 employees and more than 2.8
million shareholders. With a committed investment of INR 360000 Millions (US$
7.5 billion) in Telecom (FY 2006), the Group has a formidable presence across
the telecom value chain.
Tata Teleservices
spearheads the Group’s presence in the telecom sector. Incorporated in 1996,
Tata Teleservices was the first to launch CDMA mobile services in India with
the Andhra Pradesh circle.
Starting
with the major acquisition of Hughes Tele.com (India) Limited [now renamed Tata
Teleservices (Maharashtra) Limited] in December 2002, the company has swung
into expansion mode. Tata Teleservices operates in 20 circles i.e. Andhra
Pradesh, Chennai, Gujarat, Karnataka, Delhi, Maharashtra, Mumbai, Tamil Nadu, Orissa,
Bihar, Rajasthan, Punjab, Haryana, Himachal Pradesh, Uttar Pradesh (E), Uttar
Pradesh (W), Kerala, Kolkata, Madhya Pradesh and West Bengal.
Having
pioneered the CDMA 3G1x technology platform in India, Tata Teleservices has
established a robust and reliable telecom infrastructure that ensures quality
in its services. It has partnered with Motorola, Ericsson, Lucent and ECI
Telecom for the deployment of a reliable, technologically advanced network.
The company, which heralded convergence technologies in the Indian telecom
sector, is today the market leader in the fixed wireless telephony market with
a total customer base of over 3.8 million.
Tata Teleservices’ bouquet of telephony services includes Mobile services,
Wireless Desktop Phones, Public Booth Telephony and Wireline services. Other
services include value added services like voice portal, roaming, post-paid
Internet services, 3-way conferencing, group calling, Wi-Fi Internet,
data and calling card services.
Some of
the other products launched by the company include prepaid wireless desktop
phones, public phone booths, new mobile handsets and new voice & data
services such as BREW games, Voice Portal, picture messaging, polyphonic ring
tones, interactive applications like news, cricket, astrology, etc.
Tata Indicom redefined the existing prepaid mobile market in India, by
unveiling their new offering – Tata Indicom ‘Non Stop
Mobile’ which allows customers to receive free incoming calls.
Recently, India’s fastest and youngest telecom service provider entered the
prestigious Limca Book of Records, by inaugurating 100 True
Value Shoppes nationally on a single day.
Tata
Teleservices has a strong workforce of 6000. In addition, TTSL has created more
than 20,000 jobs, which will include 10,000 indirect jobs through outsourcing
of its manpower needs.
Today, Tata Teleservices Limited along with its
subsidiary Tata Teleservices (Maharashtra) Limited serves over 13
million customers in over 3100 towns. With an ambitious rollout plan both
within existing circles and across new circles, Tata Teleservices is offering
world-class technology and user-friendly services in 20 circles.
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 were 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.44.21 |
|
UK
Pound |
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.57.23 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|