MIRA
INFORM REPORT
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Report Date : |
29.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
BHARTI TELEMEDIA LIMITED |
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Registered Office : |
Qutab Ambience, H - 5 / 12, Mehrauli Road, New Delhi – 110030 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.11.2006 |
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Com. Reg. No.: |
55-156075 |
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CIN No.: [Company
Identification No.] |
U92200DL2006PLC156075 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB09317A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Subject is engaged in establishing, operating and maintaining a Direct-to-home,
IP TV, Cable including digital and any other mode of interactive broadcasting
services either on its own or in alliance with any other person / Body /
Bodies Corporate incorporate in India or abroad either under a strategic
alliance of Joint Venture or any other arrangement |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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Maximum Credit Limit : |
USD 600000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and in the process of establishing itself.
Directors are however reported as experienced and respectable businessmen.
Trade relations are reported as fair. Payments are reported as usually correct
and as per commitments. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office : |
Qutab Ambience, H - 5 / 12, Mehrauli Road, New Delhi – 110030, India |
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Tel. No.: |
91-11-41666000 |
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Fax No.: |
91-11-41666011 / 12 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Manoj Kohli |
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Designation : |
Director |
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Address : |
D – 5 / 2, DLF City, Phase – 1, Gurgaon – 122002, Haryana, India |
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Date of Birth : |
03.12.1958 |
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Date of Appointment : |
26.12.2007 |
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Name : |
Mr. Viresh Dayal |
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Designation : |
Director |
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Address : |
6415, DLF, phase – 4, Gurgaon – 122002, Haryana, India |
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Date of Birth : |
01.07.1955 |
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Date of Appointment : |
26.12.2007 |
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Name : |
Mr. Ashok Juneja |
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Designation : |
Director |
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Address : |
F-7 / 6, Vasant Vihar, New Delhi – 110057, India |
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Date of Birth : |
24.12.1956 |
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Date of Appointment : |
30.11.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Bharti Comtel Limited |
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10199994 |
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Mr. Sunil Bharti Mittal |
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1 |
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Mr. Rakesh Bharti Mittal |
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1 |
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Mr. Rajan Bharti Mittal |
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1 |
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Mr. Akhil Gupta |
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1 |
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Mr. Viresh Dayal |
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1 |
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Mrs. Vijaya Sampath |
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1 |
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Total |
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10200000 |
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Category |
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Percentage |
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Bodies Corporate (not mentioned above) |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in establishing, operating and maintaining a
Direct-to-home, IP TV, Cable including digital and any other mode of
interactive broadcasting services either on its own or in alliance with any
other person / Body / Bodies Corporate incorporate in India or abroad either
under a strategic alliance of Joint Venture or any other arrangement |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountant |
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Address : |
Building 8, Tower B, DLF Cyber City, Gurgaon – 122002, Haryana, India |
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Holding Company : |
Bharti Airtel Services Limited |
CAPITAL STRUCTURE
(As on
31.03.2007):-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10200000 |
Equity Shares |
Rs.10/- each |
Rs.102.000
millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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102.000 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.977) |
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NETWORTH |
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101.023 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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101.023 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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100.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.477 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.581 |
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Other Current Assets |
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0.051 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.632 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.086 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.086 |
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Net Current Assets |
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0.546 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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101.023 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.025 |
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Total Income |
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0.025 |
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Profit/(Loss) Before Tax |
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(1.454) |
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Provision for Taxation |
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(0.477) |
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Profit/(Loss) After Tax |
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(1.931) |
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Expenditures : |
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Other Expenditure |
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1.479 |
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Total Expenditure |
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1.479 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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(7724.00) |
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Net Profit Margin (PBT/Sales) |
(%) |
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(0.00) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(230.06) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.01) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.00 |
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Current Ratio (Current Asset/Current Liability) |
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9.35 |
LOCAL AGENCY FURTHER
INFORMATION
OTHER
INFORMATION:-
Bharti
Telemedia to Launch DTH Operations by Q4 2007-08
Category:
Recent Highlights, FY2007-2008
07-08-07
- Received Letter of Intent to launch services
- Services to be launched nationally
- Company to set up state-of-the-art
infrastructure for uplinking and broadcast
New Delhi, August 7, 2007: Bharti Telemedia, a subsidiary of Bharti Airtel Limited, today announced that it plans to launch the Direct to Home (DTH) [satellite TV broadcast] services by the last quarter of FY 2007-08. The company has received the Letter of Intent (LoI) for commencing its DTH services from the Union Ministry of Information and Broadcasting.
Announcing the development, Mr. Manoj Kohli, President and CEO, Bharti Airtel Liimted, said, “The launch of DTH services will add tremendously to their existing bouquet of integrated telecom offerings. They will be deploying world-class technology and infrastructure to offer the best in class DTH services to their customers.”
The DTH services will be launched nationally by the company. Towards this, the company is setting up state-of-the-art infrastructure near Gurgaon (Haryana) for the purpose of uplinking and broadcast.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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27 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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