MIRA
INFORM REPORT
|
Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
BHARTI AIRTEL LIMITED |
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Formerly Known As : |
BHARTI
TELE-VENTURES LIMITED |
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Registered Office : |
Qutab Ambience,
H-5/12, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.07.1995 |
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Com. Reg. No.: |
55-70609 |
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CIN No.: [Company
Identification No.] |
L74899DL1995PLC070609 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB04730F |
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Legal Form : |
A Public Limited
Liability Company. The company’s
shares are listed on the Stock Exchanges. |
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Line of Business : |
Company is in engaged
in Telecommunications services, Provides telephone services and Internet
access over DSL in 15 circles. The company complements its mobile, broadband
& telephone services with national and international long distance
services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 456530400 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company. Available information indicates high financial
responsibility of the company. Directors are reported as experienced and
respectable industrialists. Financial position of the company is good.
Payments are usually correct and as per commitments. The company can
be considered for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
Qutab Ambience,
H-5/12, |
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Tel. No.: |
91-11-51666000-007 |
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Fax No.: |
91-11-51666011/12 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Sunil Bharti
Mittal |
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Designation : |
Chairman & Managing
Director |
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|
|
|
Name : |
Mr. Rajan Bharti
Mittal |
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Designation : |
Joint Managing
Director |
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|
Name : |
Mr. Akhil Gupta |
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Designation : |
Joint Managing
Director |
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|
|
|
Name : |
Mr. Sin Hang Boon |
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Designation : |
Director nominated
by Singtel |
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|
|
|
Name : |
Mr. Lim Toon |
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Designation : |
Director
nominated by Singtel |
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|
|
|
Name : |
Mr. Lung Chien
Ping |
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Designation : |
Director |
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|
|
Name : |
Mr. Bashir
Abdulla Currimjee |
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Designation : |
Director |
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|
Name : |
Mr. Pulak Chandan
Prasad |
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Designation : |
Director |
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|
Name : |
Mr. Paul
O’Sullivan |
|
Designation : |
Director |
|
Name : |
Ms. Chua Sock
Koong |
|
Designation : |
Director
nominated by SingTel |
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|
|
|
Name : |
Mr. Dalip Pathak |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Donald
Cameron |
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Designation : |
Director |
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|
|
Name : |
Mr. Wong Hung
Khim |
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Designation : |
Director |
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|
Name : |
Mr. N Kumar |
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Designation : |
Director |
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Name : |
Mr. P M Sinha |
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Designation : |
Director |
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|
Name : |
Mr. Ajay Lai |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Arun Bharat
Ram |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Bashir
Currimjee |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Chua Sock
Koong |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Donald
Cameron |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Gavin John
Darby |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Kurt
Hellstrom |
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Designation : |
Non-Executive Director |
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Name : |
Mr. N. Kumar |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Paul Donovan |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Paul
O'Sullivan |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Pulak Chandan
Prasad |
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Designation : |
Non-Executive Director |
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|
Name : |
Mr. Rakesh Bharti
Mittal |
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Designation : |
Non-Executive Director |
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|
Name : |
Mr. Syeda
Bilgrami Imam |
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Designation : |
Non-Executive Director |
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Name : |
Mr. V. S. Raju |
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Designation : |
Non-Executive Director |
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Name : |
Mr. York Chye
Chang |
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Designation : |
Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Vijaya
Sampath |
|
Designation : |
General Counsel
and Company Secretary |
|
|
|
|
Name: |
Mr. Sunil Bharti Mittal |
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Designation: |
Chairman and Managing Director |
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Age: |
44 Years |
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Qualification: |
Graduate |
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Experience: |
25 Years |
|
Date of
Joining: |
01st October, 2001 |
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Previous
Employment: |
Bharti Telecom Limited, Chairman |
|
|
|
|
Name: |
Mr. Rajan Bharti Mittal |
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Designation: |
Joint Managing Director |
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Age: |
44 Years |
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Qualification: |
B.A. |
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Experience: |
20 Years |
|
Date of
Joining: |
01st October, 2001 |
|
Previous
Employment: |
Bharti Healthcare Limited |
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|
|
|
Name: |
Mr. Akhil Gupta |
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Designation: |
Joint Managing Director |
|
Age: |
46 Years |
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Qualification: |
FCA |
|
Experience: |
20 Years |
|
Date of
Joining: |
01st October, 2001 |
|
Previous
Employment: |
Consultancy |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
PROMOTERS'
HOLDING |
|
|
|
Promoters |
|
|
|
- Indian promoters |
859,986,028 |
45.41% |
|
Persons acting in concert |
1,300,700 |
0.07% |
|
Mutual Funds and UTI |
40,674,230 |
2.15% |
|
Banks, Financial Institution, Insurance
Companies, Central/State Government Institutions/ Non-Government Institutions |
32,300,424 |
1.71% |
|
Fll |
485,119,934 |
25.62% |
|
Private corporate bodies |
24,137,879 |
1.27% |
|
Indian public |
19,136,493 |
1.01% |
|
NRIs/OCBs |
15,550,929 |
0.82% |
|
Foreign Companies |
409,254,605 |
21.62% |
|
Trusts |
4,207,230 |
0.22% |
|
HUF |
247,870 |
0.01% |
|
Clearing Members (NSDL&CDSL) |
1,962,982 |
0.10% |
|
Total |
1,893,879,304 |
100.00% |
As on June
30, 2006
|
Category |
No of Shares |
Percentage of Holding |
|
Promoters
Holding |
|
|
|
Bodies Corporate |
859986028 |
45.38 % |
|
Non
Promoters Holding |
|
|
|
Mutual Funds and
UTI |
41728652 |
2.20 % |
|
Financial
Institutions / Banks |
3929435 |
0.21 % |
|
Insurance
Companies |
29930132 |
1.58 % |
|
Foreign
Institutional Investors |
485351445 |
25.61 % |
|
Any Other |
19951551 |
1.06 % |
|
Bodies Corporate |
25604612 |
1.35 % |
|
Individuals |
20410803 |
1.08 % |
|
Foreign Companies
|
408348907 |
21.55 % |
|
Total |
1895241565 |
100.00 % |
BUSINESS DETAILS
|
Line of Business : |
Company is in
engaged in Telecommunications services, Provides telephone services and Internet
access over DSL in 15 circles. The company complements its mobile, broadband
& telephone services with national and international long distance
services. |
GENERAL INFORMATION
|
No. of Employees : |
300 |
|
|
|
|
Bankers : |
ICICI Bank
Limited |
|
|
|
|
|
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Banking
Relations : |
Good |
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|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered
Accountants |
|
Address : |
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|
|
|
Associates : |
Ř
Bharti
Hexacom limited Ř
Bharti
Broadband Limited Ř
Satcom
Broadband Equipment Limited Ř
Singapore
Telecommunications Limited Ř
Bharti
Telesoft Limited Ř
Bharti
Teletech Limited Ř
Bharti
Telesoft International Limited Ř
Teletech
Services ( Ř
Mulberry
Projects Private Limited Ř
Bharti
Foundation Ř
Bharti
Tele-Ventures Employees Trust |
|
|
|
|
Subsidiaries : |
Ř
Bharti
Comtel Limited Ř
Bharti
Aquanet Limited |
|
|
|
|
Joint Venture
: |
Ř
Forum
I Aviation Limited Ř
Bridge
Mobile Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,500,000,000 |
Equity Shares |
Rs.10.00 each |
Rs. 25000.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,893,879,304 |
Equity Shares |
Rs.10.00 each |
Rs. 18938.793 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
18959.300 |
18938.793 |
18560.900 |
|
2] Share
Application Money |
0.000 |
121.260 |
0.000 |
|
3] Reserves & Surplus |
95173.300 |
54395.531 |
26775.100 |
|
NETWORTH |
114132.600 |
73455.584 |
45336.000 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
2664.500 |
28633.707 |
39598.800 |
|
2] Unsecured Loans |
50443.600 |
19329.201 |
10344.100 |
TOTAL BORROWING
|
53108.100 |
47962.908 |
49942.900 |
|
DEFERRED TAX
LIABILITIES |
0.000 |
1890.459 |
0.000 |
|
|
|
|
|
TOTAL
|
167240.700 |
123308.951 |
95278.900 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
193056.300 |
130068.771 |
97649.900 |
|
Capital work-in-progress |
23758.200 |
23412.498 |
9944.600 |
|
|
|
|
|
|
INVESTMENTS |
7058.200 |
7196.981 |
9319.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
515.500 |
177.444 |
315.800 |
|
Sundry Debtors |
14185.200 |
10761.709 |
7157.400 |
|
Cash & Bank Balances |
7804.600 |
3074.285 |
3841.400 |
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
Loans & Advances |
31857.800 |
15529.497 |
12056.400 |
|
Total Current Assets |
54363.100 |
29542.935 |
23371.000 |
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
Current Liabilities & Provisions |
98398.400 |
64655.783 |
43088.900 |
Provisions
|
12623.300 |
2335.851 |
2500.100 |
Total Current Liabilities
|
111021.7 |
66991.634 |
45589.000 |
|
Net Current Assets |
(56658.600) |
(37448.699) |
(22218.000) |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
26.600 |
79.400 |
583.400 |
|
|
|
|
|
TOTAL
|
167240.700 |
123308.951 |
95278.900 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
Sales Turnover [including other income]
|
180000.900 |
112905.793 |
80268.500 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
46013.700 |
22857.955 |
15642.800 |
Provision for Taxation
|
5681.400 |
2737.161 |
3536.100 |
Profit/(Loss) After Tax
|
40332.300 |
20120.794 |
12106.700 |
|
|
|
|
|
Total Expenditure
|
134606.600 |
61323.268 |
70299.300 |
SUMMARISED RESULTS
|
Particulars |
|
|
30.06.2007 1ST Quarter |
|
Sales Turnover |
|
|
56116.200 |
|
Other Income |
|
|
798.300 |
|
Total Income |
|
|
56914.500 |
|
Total Expenditure |
|
|
32927.400 |
|
Operating Profit |
|
|
23987.100 |
|
Interest |
|
|
(2597.200) |
|
Gross Profit |
|
|
26584.300 |
|
Depreciation |
|
|
7509.200 |
|
Tax |
|
|
3345.100 |
|
Reported PAT |
|
|
14129.200 |
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity
Ratio |
0.54 |
0.83 |
0.60 |
|
Long
Term Debt-Equity Ratio |
0.50 |
0.63 |
0.50 |
|
Current
Ratio |
0.46 |
0.41 |
1.10 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed
Assets |
0.80 |
0.72 |
1.19 |
|
Inventory |
509.03 |
455.34 |
500.51 |
|
Debtors |
14.31 |
12.53 |
22.08 |
|
Interest
Cover Ratio |
17.31 |
10.65 |
5.93 |
|
Operating
Profit Margin (%) |
41.18 |
35.22 |
36.70 |
|
Profit
Before Interest And Tax Margin (%) |
27.36 |
22.47 |
23.80 |
|
Cash
Profit Margin (%) |
36.42 |
30.68 |
28.22 |
|
Adjusted
Net Profit Margin (%) |
22.59 |
17.92 |
15.32 |
|
Return
On Capital Employed (%) |
33.87 |
22.55 |
23.96 |
|
Return
On Net Worth (%) |
43.04 |
31.82 |
23.88 |
LOCAL AGENCY FURTHER INFORMATION
Fixed
assets
Ř
Goodwill
Ř
Leasehold
land
Ř
Freehold
hand
Ř
Leasehold
VSAT assets
Ř
Plant
& machinery
Ř
Air
conditioners
Ř
Building
& leasehold improvements
Ř
Office
equipment
Ř
Computer
Ř
Vehicle
Ř
Furniture
& fixtures
History:
Subject
(Formerly known as Tele-Ventures (BTVL)) was incorporated on 07.07.1995, for
promoting investments in diversified telecom service projects. The company was formed
as 80:20 joint ventures between the Bharti Group through its subsidiary Bharti
Telecom and STETS International Netherlands NV, a company promoted by Telecom
Italia,
Concern is one of
In 2000, subject acquired an effective equity interest of 40.5% in Bharti
Mobinet (formerly Skycell Communication), the cellular service provider in
Chennai. It also acquired a 30.20% equity interest of Telecom Italia in Bharti
Telenet and 18.8% from Bharti Telecom thereby making Bharti Telenet a 100%
subsidiary of subject. Subject also
holds an effective 74% equity in Bharti Mobile and 100% equity in Bharti
Cellular. Bharti Telenet has entered into license agreements to provide
fixed-line services in the Haryana,
Subject’s two subsidiaries Bharti Cellular Limited and Bharti Infotel Limited
have been merged with the company with effect from 01.04.2004. Subsequently
Bharti Broadband Limited and Satcom Broadband Equipment Limited have become the
subsidiaries of the company after the above said merger. During 2005 the
company acquired 1% equity stake of Bharti Hexacom Limited (formally known as
Hexacom India Limited). With this acquisition the company stake in Bharti
Hexacom Limited has increased to 68.50%. Bharti Hexacom owns Licenses to
operate cellular services in the Rajasthan and North East Circles.
In 2005 the company was awarded the 'Indian
The company launched its mobile operations in seven new circles of Assam,
Bihar, Jammu & Kashmir, North East, Orissa, Uttar Pradesh (East) and West
Bengal during 2005. Also the company entered into the partnerships with the
leading companies like Nokia, Siemens, Ericsson and IBM for its network
planning, supply & management and for its IT requirements respectively.
During 2005-2006, Vodafone acquired 10% economic interest in the company by way
of subscription of convertible debentures in Bharti Enterprises Limited,
representing an indirect economic interest in Bharti Airtel Limited and
acquisition of direct interest in the company from Warburg Pincus LLC. The
company also signed a managed capacity expansion contract with Ericsson to
provide managed services and expand its GSM/GPRS network into rural
The company was awarded 'Best Managed Company Award 2005' in the large cap
category by Asia Money, 'Avaya Global Connect Customer Responsiveness Award
2005' for best customer service in the telecom sector, 'Most preferred Mobile
Service' by CNBC Awaaz Consumer Awards, 'Asian Mobile News Awards 2005' and
'Mobile Operator of the Year, India Award', 'Best GSM carrier in Asia' in the
Telecom Asia Awards 2005, 'Best Indian Carrier' in the Telecom Asia Awards
2005, 'Market Leadership Award for Managed WAN Services Market, 2005' By Frost
& Sullivan, 'Wireless service Provider of the year 2006' and 'Competitive
Service Provider of the year 2006' by Frost & Sullivan Asia Pacific. The
company also ranked among the top three companies in The Economics Times Top
500. The company is featured among the Forbes Global 2000 leading companies in
the world for the year 2005 and is ranked 2nd among the 'Best Managed
Companies' in
About
Bharti Tele-Ventures
Bharti Airtel is the proposed new name of Bharti
Tele-Ventures. This new name is subject to legal and regulatory approval.
Bharti Tele-Ventures is one of
The Hon’ble Prime
Minister inaugurates Bharti School of Telecommunication Technology &
Management at IIT, Delhi
Category: Recent Highlights
2005-2006
20-03-06
·
The
School is an initiative by IIT,
- Backed by state-of-the art
infrastructure and best of faculty
Also
present on the occasion were Prof. Surendra Prasad, Director, IIT,
On
the occasion, Prof. Surendra Prasad, Director, IIT Delhi, said, “The IITs have been
created as centres of excellence for higher learning, research and development
in science, engineering and technology in
Mr.
Sunil Bharti Mittal, Chairman & Group Managing Director, Bharti Enterprises
& Co-chairman, Bharti School Advisory Board, said, “Education is the key
for advancing India’s position in the global market as a hub for technology
innovations and for bringing in all-round development of the economy.
According
to Mr. Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises & Member,
Bharti School Advisory Board, “They are very proud to be associated with IIT,
Bharti
has given a grant of Rs 200 millions to establish the Bharti School, of which
Rs. 100 millions has been spent towards infrastructure support, including
construction of the building, while Rs. 100 millions has been set aside as a
corpus to facilitate smooth functioning of the School.
About Bharti Foundation
Bharti
Foundation was established in 2000, with a vision “To help underprivileged
children and young people of their country realize their potential.” The
Foundation creates and supports programs that bring about sustainable changes,
predominantly in the field of education. Bharti Foundation has set for itself
the goals of improving the quality of primary education for disadvantaged
children and ensure education and training opportunities for youth to help them
realize their potential.
Bharti
Computer Centres is one of the key programs, which aims at improving learning
levels of underprivileged children, using computer-aided learning. The Centres
also provide computer exposure and training to disadvantaged youth in the
communities, in which they operate. Bharti Library and Activity Centres aim at
improving basic reading ability and learning levels of children. Mid-day-meal
program of Bharti Foundation provides mid-day meals to underprivileged children
in Vrindavan. Bharti School of Telecommunication Technology and Management (at
IIT,
About Profile
Subject is one of
(formerly
known as Bharti Tele-Ventues Limited)
The company is a part of Bharti Enterprises, and is
Highlights:
v
Bharti
Tele-Ventures is the “BEST INDIAN CARRIER” at Telecom Asia Awards 2006
v
Bharti
announces un-audited results for the fourth quarter and full year ended March
31, 2006
v
Bharti has
been adjudged as India's 'second best employer' by Hewitt Associates.
v
Bharti,
India’s leading telecom conglomerate, declared country’s best-managed company
by Asiamoney.
Bharti Airtel ranked among Best Performing Asian Companies
The
others in the list include Reliance Industries (17), Infosys (23), China
Petroleum & Chemical (25), Yamaha Motor (45) Mitsubishi Corp (53) and Posco
(70). The companies were ranked using a combination of financial measures for
earnings and sales growth, plus return on assets and other benchmarks.
Companies were evaluated over both one year and three year time frames.
Sunil
Bharti Mittal, Chairman and Managing Director, Bharti Airtel Limited said,
“Getting featured among the
This is what BusinessWeek said about Bharti Airtel “The
company will spend $2 billion on network expansions and marketing to reach
underserved markets in rural areas. That’s serious money—and a step toward
Mittal’s broader ambition “to be the most admired brand in
Bharti
Airtel Limited (“Bharti” or “the company”) today announced its US GAAP results for
its fourth quarter and full year ended March 31, 2007. It has once again
maintained its strong growth momentum.
The
consolidated total revenues for the quarter ended March 31, 2007 of Rs. 53930
millions grew by 58% and EBITDA of Rs. 22410 millions grew by 75% on a year on
year basis. The cash profit from operations of Rs. 21930 millions grew by 82%
over last year. The net profit for the quarter ended March 31, 2007 was Rs.
13530 millions, a growth of 98% over last year.
The
revenues & net profit for the full year ended March 31, 2007 was Rs. 185200
millions and Rs. 42570 millions, a growth of 59% & 89% respectively, on a
year on year basis.
Bharti
had over 39 millions customers, as on March 31, 2007, an increase in the total
customer base of 86%, over the last year and maintained its leadership position
through an improved market share of all
Commenting
on the results and performance, Mr. Sunil Bharti Mittal, Chairman
& Managing Director, Bharti Airtel Limited, said, “The
Indian telecom sector has witnessed an unprecedented growth this year led by
the mobile segment. At Bharti Airtel, this has been a year of accelerated
growth and market leadership, and we are delighted to be leading the telecom
revolution in the country. The demand for the telecom services across all
segments remains buoyant and we believe that this growth momentum can be
sustained. We are confident that Bharti Airtel’s professional management team
with enhanced empowerment, backed by world-class product offerings is well
placed to strengthen our leadership position in the market.”
In line with emerging international practice, the Board of
Directors has adopted a rotation policy for statutory and internal auditors for
a maximum tenure of five years and rotation of audit partner every three years.
Accordingly, they have recommended the appointment of S R Batliboi and
Associates, Chartered Accountants, a member firm of Ernst & Young Global as
statutory auditors at the conclusion of the forthcoming annual general meeting
on 2 July 2007 and Ernst and Young as auditors for US GAAP for the financial
year ending 31 March 2008. The Board has also proposed to appoint Price
Waterhouse, Chartered Accountants as internal auditors after conclusion of
their tenure as statutory auditors of the company.
Airtel pioneers 8 Mbps Broadband in India
Category:FY2007-08
10.10.07
Airtel
is the first service provider in
Airtel
broadband customers can browse multiple windows at the same time- downloading
heavy files, view streaming video, enjoy online gaming, chat, email etc. With 8
Mbps speeds, Airtel network is IPTV ready.
Launching the service, Mr. Atul Bindal, President, Broadband & Telephone
Services, Bharti Airtel Ltd, said, “At Airtel, our endeavour is
to enhance customer experience significantly and provide. ‘More Value’. With 8
Mbps, we now offer our customers a truly world-class broadband experience,
wherein our customers would be able to download heavy files, view streaming
video, enjoy in online gaming, etc. Further, they can browse on multiple
windows at the same time without compromising the performance of any
application. This service will ensure that our customers have a truly
world-class browsing experience. With 8 Mbps speed, our network will also be
IPTV ready.”
For instance, Airtel customers will no longer have
to wait for a video to get buffered while watching streaming videos. They would
be able to download a 5 MB music file in 5 seconds flat as compared to 160
seconds on a 256 kbps connection.
Airtel’s 8 Mbps broadband service will initially be
available in
Airtel has invested in the back end infrastructure to
deliver these speeds. We already have a Carrier Ethernet Network operational in
Airtel is already working on multiple fronts to
gives its customers a complete internet experience, from innovative tariffs, consumer
centric features to content.
On the content front Airtel has already tied up
with several content providers such as India Games and Soundbuzz to provide
unlimited gaming, music downloads, education and communication services. Airtel
content offering revolves around the themes of “learn, work and play”.
Further Airtel offers features like
On the tariff front it has specific plans for each
consumer segment from duration based plans for beginners to unlimited plans for
the evolved user.
About Bharti Airtel Limited:
Bharti Airtel Limited, a group company of Bharti
Enterprises, is
Bharti Airtel is structured into three strategic
business units - Mobile services, Broadband & Telephone (B&T) services
and
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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. 39.68 |
|
|
1 |
Rs. 80.53 |
|
Euro |
1 |
Rs. 56.23 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
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 |
|