%20PRIVATE%20LIMITED%20AMALGAMATED%20WITH%20AKANKSHA%20CELLULAR%20LIMITED%20%20%20-%20138477%2014-Apr-2011_files/image010.jpg){kind=small}
Business
information report
1. Summary Information
|
Country |
|
||
|
Company Name |
AKANKSHA CELLULAR LIMITED |
Principal Name 1 |
Mr. Ashok Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Hardip Singh |
|
Registration # |
054086 |
||
|
Street Address |
Flat No. 317, Competent House, F 14, Connaught Circus, |
||
|
Established Date |
17.06.1993 |
SIC Code |
-- |
|
Telephone# |
91-11-41529023 / 41529022 |
Business Style 1 |
Provider of Telecommunication Services |
|
Fax # |
91-11-41529030 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
-- |
Product Name 3 |
-- |
|
Shareholders |
Bodies Corporate 45.14% |
Banking |
-- |
|
Public Limited Corp. |
-- |
Business Period |
18 years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
-- |
Rating |
Ba (47) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,364,900,000 |
Current Liabilities |
1,718,300,000 |
|
Inventories |
271,000,000 |
Long-term Liabilities |
420,400,000 |
|
Fixed Assets |
259,700,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
2,138,700,000 |
|
Invest& other Assets |
101,600,000 |
Retained Earnings |
108,700,000 |
|
|
|
Net Worth |
858,500,000 |
|
Total Assets |
2,997,200,000 |
Total Liab. & Equity |
2,997,200,000 |
|
Total Assets (Previous Year) |
39,000,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
8,508,400,000 |
Net Profit |
82,300,000 |
|
Sales(Previous yr) |
0 |
Net Loss (Prev.yr) |
200,000 |
MIRA INFORM REPORT
|
Report Date : |
14.04.2011 |
Note:
As per the scheme of amalgamation, Telemart Communication
(
The values for the current full year ended March 2010
include the values of merged companies. Hence, the current full year ended
March 2010 is not comparable with the previous full year ended March 2009.
IDENTIFICATION DETAILS
|
Name : |
AKANKSHA CELLULAR LIMITED (Telemart Communication ( |
|
|
|
|
Formerly Known
As : |
AKANKSHA FINVEST LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 317, Competent House, F 14, Connaught Circus, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
17.06.1993 |
|
|
|
|
Com. Reg. No.: |
054086 |
|
|
|
|
CIN No.: [Company Identification
No.] |
L64200DL1993PLC054086 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA23355D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA2031L |
|
|
|
|
Legal Form : |
Public Limited Liability Company, The Company’s shares are listed on
Stock Exchange |
|
|
|
|
Line of Business
: |
Provider of Telecommunication Services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3434000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established Company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Flat No. 317, Competent House, F 14, Connaught Circus, |
|
Tel. No.: |
91-11-41529023 / 41529022 |
|
Fax No.: |
91-11-41529030 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2010
|
Name : |
Mr. Ashok Gupta |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Hardip Singh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Manoj Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Manoj Kumar Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pramod Seth |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajesh Sharma |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Renu Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S C Garg |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjay Aggarwal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Chandra |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.03.2011
|
Category of
Shareholder |
Total No. of
Shares |
% of total No. of Shares |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
25,562,041 |
29.79 |
|
|
38,738,500 |
45.14 |
|
|
64,300,541 |
74.93 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
64,300,541 |
74.93 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
18,788,611 |
21.89 |
|
|
|
|
|
|
1,526,052 |
1.78 |
|
|
1,186,993 |
1.38 |
|
|
11,994 |
0.01 |
|
|
1,860 |
- |
|
|
10,134 |
0.01 |
|
|
21,513,650 |
25.07 |
|
Total Public shareholding (B) |
21,513,650 |
25.07 |
|
Total (A)+(B) |
85,814,191 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
85,814,191 |
100.00 |
%20PRIVATE%20LIMITED%20AMALGAMATED%20WITH%20AKANKSHA%20CELLULAR%20LIMITED%20%20%20-%20138477%2014-Apr-2011_files/image011.gif){kind=small}
%20PRIVATE%20LIMITED%20AMALGAMATED%20WITH%20AKANKSHA%20CELLULAR%20LIMITED%20%20%20-%20138477%2014-Apr-2011_files/image012.gif){kind=small}
%20PRIVATE%20LIMITED%20AMALGAMATED%20WITH%20AKANKSHA%20CELLULAR%20LIMITED%20%20%20-%20138477%2014-Apr-2011_files/image013.gif){kind=small}
BUSINESS DETAILS
|
Line of Business : |
Provider of Telecommunication Services |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Manish Jain and Company Chartered Accountant |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
749.80 |
37.500 |
37.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
108.70 |
1.200 |
1.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
858.500 |
38.700 |
39.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
375.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
45.400 |
0.200 |
0.000 |
|
|
TOTAL BORROWING |
420.400 |
0.200 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1278.900 |
38.900 |
39.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
259.700 |
0.000 |
0.700 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
99.900 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
271.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1484.900
|
0.200 |
0.000 |
|
|
Cash & Bank Balances |
359.800
|
0.700 |
0.100 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
520.200
|
38.100 |
39.100 |
|
Total
Current Assets |
2635.900
|
39.000 |
39.200 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
1683.700
|
0.100 |
0.900 |
|
|
Provisions |
34.600
|
0.000 |
0.000 |
|
Total
Current Liabilities |
1718.300
|
0.100 |
0.900 |
|
|
Net Current Assets |
917.600
|
38.900 |
38.300 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.700 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1278.900 |
38.900 |
39.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
8508.400 |
0.000 |
1.600 |
|
|
|
Other Income |
209.500 |
0.400 |
0.000 |
|
|
|
TOTAL (A) |
8717.900 |
0.400 |
1.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
8055.900 |
0.000 |
0.000 |
|
|
|
Manufacturing Expenses |
95.800 |
0.000 |
0.000 |
|
|
|
Selling and Distribution Expenses |
50.400 |
0.000 |
0.000 |
|
|
|
Personnel Expenses |
80.500 |
0.100 |
0.700 |
|
|
|
Administrative Expenses |
91.900 |
0.400 |
0.700 |
|
|
|
TOTAL (B) |
8374.500 |
0.500 |
1.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
343.400 |
(0.100) |
0.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
92.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
250.900 |
(0.100) |
0.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
124.100 |
0.100 |
0.100 |
|
|
|
|
|
|
|
|
|
Less |
OTHER WRITE OFFS
|
0.600 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
126.200 |
(0.200) |
0.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
43.900 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
82.300 |
(0.200) |
0.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.71 |
-- |
-- |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
0.500 |
0.000 |
0.000 |
|
Total Expenditure |
0.360 |
2.040 |
0.190 |
|
PBIDT (Excl OI) |
0.140 |
(2.040) |
(0.190) |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
0.140 |
(2.040) |
(0.190) |
|
Interest |
0.000 |
0.000 |
0.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
0.140 |
(2.040) |
(0.190) |
|
Depreciation |
0.000 |
0.000 |
0.000 |
|
Profit Before Tax |
0.140 |
(2.040) |
(0.190) |
|
Tax |
0.050 |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
0.090 |
(2.040) |
(0.190) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
0.090 |
(2.040) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.94
|
(50.00) |
6.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.48
|
NA |
6.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
(0.51) |
0.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
(0.01) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.49
|
0.01 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
390.00 |
43.55 |
LOCAL AGENCY FURTHER INFORMATION
AS ON 31.03.2009
MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY Subsequent to the close of financial year ended on 31.03.2009, the company in order to increase its business operation has considered and allotted 1,83,20,050 fully convertible warrants on preferential basis as on 9.06.2009 to the persons not belonging to promoter category at the rate of Rs.10/- each with the right to apply for Equity shares on subsequent dates as per Guidelines for Preferential Issue as prescribed by SEBI. The warrant holders have paid Rs. 2.50/- being 25% of the exercised price. The warrant holder has the option to apply for and be allotted equity shares of the company of face value of Rs.10/- each, by paying the balance subscription price after adjusting the upfront payment made on the date of allotment of warrants at any time before the expiry of 18 months from the date of allotment of warrants. The company reserves the right to forfeit the amount paid at the time of allotment as per clause 13.1.2.3(c) of SEBI guidelines in case of failure by the warrant holder to apply for and be allotted equity shares of the company by paying the balance subscription price after adjusting the upfront payment made before the expiry of the specified period of 18 months. In order to accommodate the shares that will arise due to conversion of warrants allotted on preferential basis as stated above, the Authorized Capital have been increased from Rs. 40.000 millions to Rs. 304.800 millions MERGER The Board of Directors in their meeting held on 28th March, 2009 has considered and approved the scheme of merger of Telemart Communication (India) Private Limited, Mach Communication Private Limited, Mo-Life Communication (India) Private Limited, Mo-Life Retails Private Limited, Radical Softnet Private Limited, Pacific Inet Support Private Limited, A. Design and Details (Interiors and Infrastructure) Private Limited with the Company, in accordance with the SEBI Guidelines and subject to the sanction of Honble High Court, Delhi.
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.44.52 |
|
|
1 |
Rs.72.72 |
|
Euro |
1 |
Rs.64.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.