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MIRA
INFORM REPORT
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Report Date : |
21.02.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
BT (INDIA) PRIVATE LIMITED |
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Formerly Known As : |
BT GLOBAL METWORKING (INDIA) PRIVATE LIMITED |
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Registered Office : |
JE 9/ 104, Khirki Extension, Malviya Nagar, Opp M Block, Tikona Park, New Delhi 110 017 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.12.2000 |
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Com. Reg. No.: |
55-109012 |
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CIN No.: [Company
Identification No.] |
U74899DL2000PTC109012 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI06923A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To provide networking solutions, network traffic management solutions,
correspondent relationship services, carrier relationship management services
and market products and services in the communication and computer sectors. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 610000 |
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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 having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
JE 9/ 104, Khirki Extension, Malviya Nagar, Opp M Block, Tikona Park, New Delhi 110 017, India |
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Tel. No.: |
91-11-29545877 |
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E-Mail : |
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Head Office : |
Gesco Corporate Centre, 70 Nehru Place, New Delhi 110 019, India |
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E-Mail : |
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Administrative Office : |
Plot No. A 4, B Cross Road, MIDC, Marol, Andheri (East), Mumbai 400
093, Maharashtra, India |
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Corporate Office : |
501, Dhantak Plaza, 5th Floor, Makwana Road, Marol, Andheri
(East), Mumbai 400 093, Maharashtra, India |
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Tel. No.: |
91-22-39881999 |
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Fax No.: |
91-22-28595055 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sameer Romesh Chugh |
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Designation : |
Whole Time Director |
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Address : |
1058, Sector A, Pocket – B, Vasant Kunj, New Delhi 110 070, India |
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Date of Birth/Age : |
11.06.1973 |
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Date of Appointment : |
17.01.2005 |
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Name : |
Mr. Mark Montagure Cleaver |
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Designation : |
Additional Director |
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Address : |
B – 5/ 5, Vasant Vihar, New Delhi 110 070, India |
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Date of Birth/Age : |
20.09.1957 |
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Date of Appointment : |
01.06.2004 |
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Name : |
Mr. Arun Manmohan Seth |
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Designation : |
Whole Time Director |
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Address : |
A – 7, Geetanjali Encalve, New Delhi 110 070, India |
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Date of Birth/Age : |
19.11.1951 |
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Date of Appointment : |
23.04.2002 |
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Name : |
Ms. Anita Dorett |
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Designation : |
Director |
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Address : |
27 Primrose Avenue, Singapore 467261 |
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Date of Birth/Age : |
20.10.1967 |
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Date of Appointment : |
11.04.2002 |
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Name : |
Mr. Chunduru Sambasiva Rao |
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Designation : |
Additional Director |
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Address : |
500, 13th Main, 21st Cross, BSK 2nd
Stage, Bangalore 560 070, Karnataka, India |
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Date of Birth/Age : |
01.07.1953 |
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Date of Appointment : |
06.12.2006 |
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Name : |
Mr. Manish Ram Gopal Chandana |
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Designation : |
Whole Time Director |
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Address : |
G – 54, Lajpat Nagar 3, New Delhi 110 024, India |
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Date of Birth/Age : |
05.06.1974 |
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Date of Appointment : |
01.09.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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BT Holdco BV |
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290500 |
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BT Nominees Limited |
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2 |
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Names of Shareholders |
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Percentage of
Holding |
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Foreign Holdings [Foreign Institutional Investor(s), Foreign
Companie(s), Foreign Financial Institution(s), Non-Resident Indian(s), or
Overseas Corporate Bodies or Others] |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
To provide networking solutions, network traffic management solutions,
correspondent relationship services, carrier relationship management services
and market products and services in the communication and computer sectors. |
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 Accountants |
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Address : |
P-1, Aditya Vihar, Sidulajab, Opp D Block-Saket, Mehrauli Badarpur
Road, New Delhi 110 030, India |
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Ultimate Holding Company: |
* BT Plc. |
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Holding Company : |
* BT Holdco BV,
Netherlands * BT (Netherlands)
Holdings BV |
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Subsidiaries : |
* BT Singapore Pte
Ltd * BT Hong Kong
Limited * Communication
Networking Services |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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290502 |
Equity Shares |
Rs. 10/- each |
Rs. 2.905 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.905 |
2.905 |
2.905 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
149.250 |
105.587 |
95.411 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
152.155 |
108.492 |
98.316 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
396.713 |
371.358 |
305.095 |
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TOTAL BORROWING |
396.713 |
371.358 |
305.095 |
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DEFERRED TAX LIABILITIES |
0.000 |
4.753 |
17.963 |
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TOTAL |
548.868 |
484.603 |
421.374 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
754.225 |
354.104 |
406.389 |
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Capital work-in-progress |
0.000 |
4.103 |
3.501 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
20.530 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
437.211
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582.087 |
39.368 |
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Cash & Bank Balances |
204.570
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174.992 |
82.876 |
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Other Current Assets |
0.000
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0.000 |
.000 |
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Loans & Advances |
43.403
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73.540 |
345.464 |
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Total
Current Assets |
685.184
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830.619 |
467.708 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
863.266
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688.220 |
452.372 |
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Provisions |
47.805
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16.003 |
3.852 |
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Total
Current Liabilities |
911.071
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704.223 |
456.224 |
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Net Current Assets |
(225.887)
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126.396 |
11.484 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
548.868 |
484.603 |
421.374 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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861.455 |
573.625 |
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Total Income |
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861.455 |
573.625 |
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Profit/(Loss) Before Tax |
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88.607 |
15.313 |
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Provision for Taxation |
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43.662 |
5.137 |
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Profit/(Loss) After Tax |
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43.662 |
10.176 |
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Earnings in Foreign Currency : |
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Export Earnings |
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650.000 |
300.000 |
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Total Earnings |
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650.000 |
950.000 |
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Imports : |
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Raw Materials |
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61.650 |
62.940 |
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Total Imports |
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61.650 |
124.590 |
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Expenditures : |
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Depreciation & Amortization |
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178.809 |
106.409 |
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Other Expenditure |
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594.039 |
451.903 |
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Total Expenditure |
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772.848 |
558.312 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.06
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1.77 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
10.28
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2.66 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.06
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1.29 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.58
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0.14 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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9.59
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10.95 |
8.92 |
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Current Ratio (Current Asset/Current Liability) |
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0.75
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1.17 |
1.02 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been changed from Gesco Corporate
Centre, 70 Nehru Place, New Delhi 110 019, India to the present.
Subject was incorporated on the December 26, 2000. during the year the
holding company has changed from BT Holdco BV, Netherlands, due to its merger
with BT (Netherlands) Holdings BV, w.e.f. April 25, 2006. The company has
entered into agreements with group companies to provide telecommunication
releted services and related support services on a cost plus basis.
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.39.98 |
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UK Pound |
1 |
Rs.78.57 |
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Euro |
1 |
Rs.59.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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63 |
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 |
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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 |
|
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. |
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 |
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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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