MIRA INFORM REPORT
|
Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ICOMM TELE LIMITED |
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Registered
Office : |
304, |
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Country : |
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Financials (as
on) : |
30.09.2010 |
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Date of
Incorporation : |
30.01.1989 |
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Com. Reg. No.: |
009561 |
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CIN No.: [Company Identification
No.] |
U64203AP1989PLC009561 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
HYDI00780D |
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PAN No.: [Permanent Account No.] |
AAECA1326Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Seller of Telecommunication Equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
A (61) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 14000000 |
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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 company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
304, |
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Tel. No.: |
91-40-23552222 |
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Fax No.: |
91-40-23552266 |
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E-Mail : |
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Website : |
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Area : |
8000 sq.ft. (Rented) |
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Communication
Equipment/ Solar Photovoltaic/ Transformers
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Factory 1 : |
Plot No. 40-46, Phase I, IDA, Cherlapally, Hyderabad-500051, |
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Tel. No.: |
91-40-27262709 |
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Fax No.: |
91-40-27263509 |
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Area : |
80000 sq.ft. (Owned) |
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Factory 2 : |
T.S. No. C/7/17/1, Block No. 2, |
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Tel. No.: |
91-884-2324860 |
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Area : |
7000 sq.ft. (Rented) |
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Shelters / Tower And Conductors |
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Factory 3 : |
45-60, |
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Tel. No.: |
91-40-27125523 |
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Area : |
6798 Sq.meters (Owned) |
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Regional Office |
Located at: ·
·
Kolkata, ·
Pune, ·
·
Jaipur, Rajasthan ·
Cehnnai, Tamilnadu |
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Service Centers: |
Located At:
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Branches : |
Located at: |
DIRECTORS
As on 31.12.2010
|
Name : |
Mr. Pradeep Shankar |
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Designation : |
Chairman Cum Managing Director |
|
Address : |
Bank House, 5-Y-N Road, State Bank of |
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Date of Birth/Age : |
02.01.1946 |
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Date of Appointment : |
26.11.2009 |
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Name : |
Mr. Sumanth Paturu |
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Designation : |
Managing Director |
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Address : |
2-2-20/21 A (C-10 and 11), D.D. Colony, |
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Date of Birth/Age : |
12.07.1976 |
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Date of Appointment : |
26.08.1994 |
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Name : |
Mr. Mohanram Subbarao |
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Designation : |
Managing Director |
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Address : |
Plot No. 20, K.N. Eclave, NR Srinivasa Nagar, Kapra, |
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Date of Birth/Age : |
17.03.1949 |
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Date of Appointment : |
30.03.2009 |
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Name : |
Mr. Trilochan Panda |
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Designation : |
Director |
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Address : |
240 Phase, I Vasant Vihar, Dehradun – 248001, |
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Date of Birth/Age : |
10.07.1962 |
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Date of Appointment : |
28.08.2009 |
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Name : |
Mr. Chunduru Sambasiva Rao |
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Designation : |
Director |
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Date of Appointment : |
29.06.2007 |
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Name : |
Mr. Arogyaswami Joseph Paulraj |
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Designation : |
Director |
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Address : |
No.29, Peter Coutts Hills, Stanford CA-94305, |
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Date of Birth/Age : |
14.04.1944 |
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Date of Appointment : |
26.08.1994 |
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Name : |
Mr. Venkata Ramakrishna Kunisetty |
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Designation : |
Director |
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Address : |
Flat 301, Oechid, Hirandani Meadows Gladys Alwares Marg, Off
Prokharan, Road No. Thane – 400610, |
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Date of Birth/Age : |
29.10.1969 |
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Date of Appointment : |
21.11.2008 |
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Name : |
Mr. Paramjit Singh Arora |
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Designation : |
Director |
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Address : |
D-323, 1st Floor, Defence Colony, |
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Date of Birth/Age : |
01.05.1947 |
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Date of Appointment : |
26.11.2009 |
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Name : |
Mr. Chunduru Sambasiva Rao |
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Designation : |
Director |
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Address : |
500, 13th Main, 21st Cross, BSK –II, Stage, |
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Date of Birth/Age : |
01.07.1954 |
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Date of Appointment : |
29.06.2007 |
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Name : |
Mr. Percy Homi Italia |
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Designation : |
Director |
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Address : |
153, Sapper Lines, Secunderabad – 500003, |
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Date of Birth/Age : |
14.09.1950 |
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Date of Appointment : |
15.03.2010 |
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Name : |
Mr. Balachandra Subku |
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Designation : |
Company Secretary |
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Address : |
Abhaya, 6-3-609/140/1, Anandnager, Khairatabad – 500004, |
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Date of Birth/Age : |
06.04.1969 |
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Date of Appointment : |
17.03.2008 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Paturu Sumanth |
|
13179461 |
|
Isitva Ventures Private Limited, |
|
1977915 |
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Mr. Vijay Lakshmi |
|
5972180 |
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Paturu Kavitha |
|
5356425 |
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V. Smitha |
|
3158649 |
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Dr. G. Ramesh |
|
3158649 |
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Paturu Kanaka Durga |
|
141000 |
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Puturu Kanaka Durga |
|
70000 |
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Puturu Padma |
|
70000 |
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Puturu Nivedita Rani |
|
70000 |
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Puturu Vijetha Rani |
|
70000 |
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Puturu Hemanth |
|
70000 |
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Puturu Neeli Meghana |
|
70000 |
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Puturu Neekitha |
|
70000 |
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Ramrao Puturu (HUF) |
|
51136 |
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Equity Share Breakup (Percentage of Total Equity)
As on 31.12.2010
|
Category |
|
Percentage of
Holding |
|
Foreign Holdings (Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
overseas corporate bodies or others) |
|
5.10 |
|
Mutual Fund |
|
10.21 |
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Bodies corporate (not mentioned above) |
|
4.97 |
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Directors or relatives of directors |
|
77.60 |
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Other top fifty (50) shareholders (other than listed above) |
|
2.12 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Seller of Telecommunication Equipments. |
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PRODUCTION STATUS
As on 30.09.2010
|
Particulars |
Unit |
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Installed
Capacity |
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Communications and Technology |
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a) Antennas BTS |
Nos. |
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20500 |
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b) Antennas CPE’s |
Nos. |
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|
1000000 |
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c) Wireless / Wire Line Equipment |
Nos. |
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|
35000 |
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d) CPE’s |
Nos. |
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1000000 |
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EPC Power and Telecom Infrastructure |
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Towers |
Mts |
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|
250000 |
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Shelters |
Nos. |
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|
30000 |
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Cables and Conductor |
KMs |
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|
30000 |
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Transformers |
Nos. |
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|
50000 |
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Renewable and Others |
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Solar Photo Voltiac Systems |
Nos. |
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30000 |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Statutory Auditors : |
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Name : |
Nataraja Iyer and Company Chartered Accountant |
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Address : |
1-10-126, Ashok Nagar, Hyderabad-500020, |
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Name : |
Deloitte Haskings and Sells Chartered Accountant |
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Address : |
1-8-384 and 385, 3rd Floor, Gowra Grand, |
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Subsidiary Companies : |
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Associate Companies : |
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CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000100 |
Equity Shares |
Rs. 10/- each |
Rs. 550.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
39814535 |
Equity Shares (Of the above : 16212720 (30.06.2008:
16212720) Equity Shares of Rs. 10 each were allotted as fully paid bonus
shares by capitalization of Rs. 162.130 Millions (30.09.2009: Rs. 162.130 Millions)
from Profit and Loss Account) |
Rs. 10/-
each |
Rs. 398.150
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2010 |
30.09.2009 (15 Months) |
30.06.2008 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
398.145 |
427.500 |
427.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3091.655 |
2623.500 |
2354.920 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3489.800 |
3051.000 |
2782.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3282.281 |
2802.560 |
1701.820 |
|
|
2] Unsecured Loans |
1513.598 |
1548.710 |
478.910 |
|
|
TOTAL BORROWING |
4795.879 |
4351.270 |
2180.730 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
8.800 |
|
|
|
|
|
|
|
|
TOTAL |
8285.679 |
7402.270 |
4971.950 |
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
1110.844 |
1076.430 |
877.160 |
|
|
Capital work-in-progress |
18.029 |
22.930 |
74.850 |
|
|
|
|
|
|
|
|
INVESTMENT |
99.807 |
12.530 |
10.030 |
|
|
DEFERREX TAX ASSETS |
29.619 |
7.100 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1419.861
|
1041.630
|
691.090 |
|
|
Sundry Debtors |
5186.797
|
6425.490
|
6281.070 |
|
|
Cash & Bank Balances |
612.373
|
651.000
|
377.350 |
|
|
Other Current Assets |
1351.535
|
626.940
|
337.470 |
|
|
Loans & Advances |
4217.893
|
2852.990
|
2041.990 |
|
Total
Current Assets |
12788.459
|
11598.050
|
9728.970 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2949.330
|
2186.860
|
2510.800 |
|
|
Other Current Liabilities |
2000.248
|
2497.330
|
2528.340 |
|
|
Provisions |
811.528
|
630.650
|
680.110 |
|
Total
Current Liabilities |
5761.106
|
5314.840
|
5719.250 |
|
|
Net Current Assets |
7027.353
|
6283.210
|
4009.720 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.027 |
0.070 |
0.190 |
|
|
|
|
|
|
|
|
TOTAL |
8285.679 |
7402.270 |
4971.950 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2010 |
30.09.2009 (15 Months) |
30.06.2008 (12 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10060.200 |
9015.120 |
10639.560 |
|
|
|
Other Income |
77.590 |
92.160 |
52.500 |
|
|
|
TOTAL (A) |
10137.790 |
9107.280 |
10692.060 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Stock |
(150.510) |
(327.050) |
147.050 |
|
|
|
Raw Materials Consumed |
6351.390 |
5815.480 |
7158.610 |
|
|
|
Payments and Benefits to Employees |
436.040 |
400.090 |
216.410 |
|
|
|
Manufacturing and Other Expenses |
1899.260 |
1865.570 |
1446.570 |
|
|
|
TOTAL (B) |
8536.180 |
7754.090 |
8968.640 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1601.610 |
1353.190 |
1723.420 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
853.240 |
862.590 |
406.920 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
748.370 |
490.600 |
1316.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
102.730 |
108.340 |
55.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
645.640 |
382.260 |
1261.040 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
206.300 |
112.260 |
490.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
439.340 |
270.000 |
770.850 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1317.120 |
1048.150 |
744.080 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
300.000 |
|
|
|
Interim Dividend |
0.032 |
0.880 |
142.550 |
|
|
|
Tax on Dividend |
0.005 |
0.150 |
24.230 |
|
|
BALANCE CARRIED
TO THE B/S |
1756.090 |
1317.120 |
1048.150 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
259.930 |
91.970 |
140.960 |
|
|
TOTAL EARNINGS |
259.930 |
91.970 |
140.960 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
645.110 |
469.310 |
841.200 |
|
|
|
Stores & Spares |
0.340 |
0.320 |
0.680 |
|
|
|
Capital Goods |
22.530 |
0.000 |
36.360 |
|
|
TOTAL IMPORTS |
667.980 |
469.630 |
878.240 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
|
|
|
|
Basic |
11.56 |
7.52 |
34.29 |
|
|
|
Diluted |
11.03 |
7.06 |
33.35 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2010 |
30.09.2009 (15 Months) |
30.06.2008 (12 Months) |
|
PAT / Total Income |
(%) |
4.30 |
2.96
|
7.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.41 |
4.24
|
11.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.67 |
3.02
|
11.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.13
|
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.02 |
3.17
|
2.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
2.18
|
1.70 |
LOCAL AGENCY FURTHER INFORMATION
OVERVIEW:
During the period,
the Company recorded a Gross Income of Rs. 10,490.26 Mn as against Rs. 9,313.80
Mn for the previous period. The Company achieved a Net Income of Rs. 10,137.79
Mn as against Rs. 9,100.98 Mn for the Previous Financial Year.
The Earnings
before Interest and Depreciation and Taxes (EBITDA) is Rs. 1,631.83 Mn as
compared to Rs. 1,353.19 Mn of the previous period.
The Net Profit during the period is Rs. 439.34 Mn, as against Rs. 270.00
Mn during the previous period.
ICOMM BAGGED PRESTIGIOUS PROJECTS:
Telecom
- ICOMM is the proud partner of India's
first urban mobile WIMAX 16E Project along with Avait Networks, BEECEM and
GEMTEK and supplied WIMAX forum Wave-2 certified user equipment such as
USB Dongle, Indoor CPE and Outdoor CPE on turnkey basis & maintains the
network for 5 years.
- ICOMM also being given an opportunity
to supply, install & commission and base stations, maintenance support
of WIMAX equipment in BSNL network on turnkey basis for Project -2 in
rural areas across the Country in the States of Uttar Pradesh,
Uttaranchal, Assam, West Bengal, Karnataka, Andhra Pradesh amd Tamilnadu
Power Transmission
- ICOMM received orders from PGCIL/GETCO
for Supply of Towers for 400kV Transmission Lines.
- ICOMM bagged orders from APTRANSCO for
construction of 400kV Transmission Lines on turnkey basis.
- ICOMM bagged Letter of Award to
manufacture and supply of all materials, execution of relevant civil works
erection, testing and commissioning for establishment of new 400/220 kV
substation and associated works at Nanded, of MAHA Transco and project is
estimated to be completed within 18 months from the date of Award.
- ICOMM
received an Order to Design, Supply and Execute 132 kV - Double Circuit
Transmission line of 60 Kms from Kumbostaso to Dambata in
- ICOMM and
Nicco Power Projects as a Joint Venture awarded the Power distribution
tender with Volta River Authority,
- ICOMM
established L1 position in competitive bidding to manufacture and supply
of 132 kV Transmission lines material to Mendi – Gidami Power Transmission
Project (EEPCO) in
SUBSIDIARY COMPANIES :
The Audited
accounts of Companies Subsidiaries for financial year 2009-2010 are being
attached here with.
The Company has 3
Wholly Owned Subsidiary Companies, namely ICOMM International Lanka Private
Limited, ICOMM Energy Limited, and Vasitva Ispat Limited and a Statement as
required under the section 212 of the Companies Act, 1956 is forming part of
this report.
Further the
directors are pleased to inform the Members that in pursuance of an order
awarded to design, supply and execute 132 kV - Double Circuit Transmission line
of 60 Kms from Kumbostaso to Dambata awarded in Nigeria, the Company is
actively considering to incorporate a wholly owned subsidiary in the name and
style of ICOMM INTERNATIONAL NIGERIA LIMITED in accordance with the laws of the
land of Federal Public of Nigeria. The said incorporation brings acceleration
in exploring further business opportunities in International Business across
the globe.
Form : 8
Bankers Charges
Report as per Registry
|
Name of the company |
ICOMM TELE LIMITED |
|
Presented By |
G.B.S. Naidu, Company Secretary |
|
1) Date and description of instrument creating the change |
21.02.2005, Agreement for Hypothecation of Current Assets |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 150.000 Millions |
|
3) Short particular of the property charged. If the property acquired
is subject to charge, date of the acquired of the property should be given |
First pari passu charge on the entire current assets, present and
future of the company. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Sales Bill Discounting Facility of Rs. 150.000 Millions |
|
5) Name and Address and description of the person entitled to the
charge. |
Axis Bank Limited, 6-3-879/B, 1 Floor, G Pulla Reddy Building,
Greenlands, Bedumpet Road, Hyderabad-500016, Andhra Pradesh, India |
|
6) Date and brief description
of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
NA |
|
Corporate
identity number of the company |
U64203AP1989PLC009561 |
|
Name of the
company |
ICOMM TELE
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
304, BANJARAHILLS Andhra Pradesh |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property (not
being pledge) |
|
Particular of
charge holder |
PTC INDIA
FINANCIAL SERVICES LIMITED, 2ND FLOOR NBCC TOWER 15 BHIKAJI CAMA PLACE, NEW
DELHI – 110066, Delhi, INDIA |
|
Nature of
instrument creating charge |
1. Unattested
Deed of Hypothecation dt: 06th December, 2010. |
|
Date of
instrument Creating the charge |
06/12/2010 |
|
Amount secured by
the charge |
Rs. 600.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : The Borrower shall
until the Final Settlement Date, pay to the Lender interest on the Debt
outstanding @ intimated by the lender and presently Interest @ 12.50% per
annum on monthly payment basis. Terms of repayment : Term loan will be
repaid in 16 equal quarterly installments Margin : As per the Terms
and Condition of the Term Loan Agreement dt: 06th December, 2010. Extent and operation of the charge : As per the Terms
and Condition of the Term Loan Agreement dt: 06th December, 2010. Other : NIL |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation and
exclusive charge over the specific assets of the Borrowers as mentioned in
deed of hypothecation dated 06-12-2010 (both present and future). |
Fixed Assets:
·
·
·
Plant and Machinery
·
Electrical Installations
·
Computers and Software
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Tools
·
Leasehold Improvements
AS PER WEBSITE
Overview:
Incorporated in 1989, Subject has grown tremendously science and is now
touted as the most innovative EPC Business Enterprise among the public and
private sector giants. with over two decades of experience spanning the
Telecom, Defence, Solar, Power and Infrastructure Sectors, ICOMM delivers
unparalleled solutions for the utmost satisfaction of its customers.
Adherence to international standards, timely executions of multifaceted
projects and state of the art technology coupled with a highly capable, unified
workforce has lead the group to become the most preferred partner to its
customers, across Africa, Asia and the Middle East.
ICOMM’s dynamism and commitment to excellence has propelled it into a
successful league and cemented its leadership in the areas of quality,
technology, capacity and capability.
Milestone:
1989: Established Antenna and Masts Division
1990: Recognition for the in-house R and D by Department of Scientific and
Industrial Research,
1994: Awarded largest manufacturer of MARR Systems and Telecom Products from
CDOT
1995: Established the Turnkey Services Division, Special Projects (Strategic
Electronics) Divisions
1999: Delivered Proto Model of Indigenously Developed FH-TDMA
2001: Assembly/manufacturing facility set up at Yanam for dense wavelength
division multiplexing (“DWDM”), infrastructure and CDMA Handsets
2002: Execution of US$ 28 million order for 200,000 CDMA handsets/FWTs to
BSNL and Handover of FH-TDMA to Customer for user trials
2003: Execution of US$ 27 million DWDM Project and US$ 10 million CDMA Infra
project for 105K lines on turnkey basis. ICOMM received repeat orders for
supply of FH-TDMA for Samyukta and Missile Communications
2005: Modernization and expansion of manufacturing facilities at
2006: Commenced transformers manufacturing division
2007: Company’s tower manufacturing capacity expanded to 200,000 MTs per annum;
Company enjoyed the position of largest manufacturing facility; Company started
International operations in Sri Lanka and Bangladesh and set up the Solar
Manufacturing Business Unit
2008: Commenced infrastructure business unit and private equity investment
was made by GF.
2010: Wimax Project launched in Kerala for BSNL in association with Aviat
Networks and Beceem Communications Inc.
Board of
Directors:
ICOMM’s Board of Directors comprises eminent individuals including
entrepreneurs, financial analysts, technocrats, scientists, professors and
retired armed force officers with a common vision in corporate governance.
The Board acts with autonomy and independence in exercising strategic
supervision, discharging its fiduciary responsibilities, and in ensuring that
the management observes the highest standards of ethics, transparency and
disclosure.
Mr. Pradeep Shankar
Chairman and Independent Director
Mr. Pradeep Shankar has a Masters Degree in Physics from
Mr. Sumanth Paturu
Managing Director
Mr. Sumanth Paturu joined the Company on August 26, 1994 and was appointed as
the Managing Director for a period of five years on September 26, 2008 with
effect from October 1, 2008. He has 13 years of experience in entrepreneurial
and strategic management in telecom, power and solar business segments. He was
awarded the “Most Promising Entrepreneur”, in December, 2009 at the Asia
Pacific Entrepreneurship Awards. Sumanth Paturu is also a member of the Young
Entreprenuers Organization.
Mr. Mohanram Subbarao
Managing Director
MR. Subbarao joined the Company on March 30, 2009 and was appointed as a
Managing Director for a term of two years. Mohanram Subbarao has a B.E.
(Electrical) degree from
Mr. Trilochan Panda
Director (Finance)
Mr. Panda joined the Company on August 28, 2009. He holds a Bachelors Degree in
Commerce (Hons.) from the
Mr. Chunduru Sambasiva
Rao
Non Executive Director
Mr. CS Rao joined the Company on June 29, 2007. He holds a Bachelor’s Degree in
electrical engineering from the Indian Institute of Technology,
Dr. Arogyaswamy Joseph
Paulraj
Independent Director
Dr. Paulraj joined the Company on August 26, 1994. He was awarded the Padma
Bhushan (Science and Engineering) by the President of India for his
contribution to wireless research in the year 2010. He is a professor at the
Department of Electrical Engineering at
Maj. Gen. (Retd.)
Paramjit Singh Arora
Independent director
Mr. Arora holds a post graduation degree in engineering from Indian Institute
of Technology,
Mr.Kunisetty Venkata
Ramakrishna
Nominee Director of IGF
Mr. Ramakrishna joined the Board of the Company on November 21, 2008 when he
was nominated pursuant to the IGF Shareholders Agreement dated February 6,
2008. He is also an executive of Kotak Investment Advisors Limited. Kunisetty
Venkata Ramakrishna has a degree in computer science and engineering from
National Institute of Technology,
Mr. Percy Homi Italia
Independent director
Mr. Homi Italia is a fellow member of the Institute of Chartered Accountants of
India (“ICAI”) and has graduated from the
Awards and
Certificates:
ICOMM ensures that all its customers are provided with the best possible
service, and the company maintains, at all times, a voluntary commitment to all
the groups of interest with whom it operates, thereby maintaining its current
growth and profitability levels. The following are the some of the major
awards/certifications received by ICOMM.
·
Appreciation from Brahmos Aerospace in July, 2007
for the significant contribution made by the Company in meeting the target for
handing over of the Brahmos Missile System to the Indian Army
·
Received an award from the Society of Indian
Aerospace Technologies and Industries in February, 2009 for “Excellence in
Aerospace Indigenization 2008”
·
Awarded the Amancherla Ramamurthy Silver Rolling
Trophy from the Federation of Andhra Pradesh Chambers of Commerce and Industry,
in July, 1996 for the “Best All Round Performance in Industrial Activity
including Promotion/Expansion Effort in Andhra Pradesh” during the during the
year 1995- 1996
·
Received an award from the Federation of Andhra
Pradesh Chambers of Commerce and Industry, in September, 1995 for “Best
Technological Development in Research and Development by Industrial/Scientific
Organization in the state” for the year 1994-1995
·
Received the Telecom Productivity Award from C Dot
Vendors Association, in February, 1994 for being the “Largest Manufacturer of
MARR Systems” for the year 1992-1993
·
Received an award from the Department of
Electronics, Government of India, in October 1994 for “Excellence in
Electronics, 1993”.
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 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. 44.22 |
|
|
1 |
Rs. 71.97 |
|
Euro |
1 |
Rs. 63.23 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
61 |
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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.