MIRA
INFORM REPORT
|
Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
AISHWARYA TELECOM LIMITED |
|
|
|
|
Registered Office : |
1-3-1026 And 1027, Singadikunta, Kavadiguda, Hyderabad-500080, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
02.06.1995 |
|
|
|
|
Com. Reg. No.: |
01-20569 |
|
|
|
|
CIN No.: [Company
Identification No.] |
L64204AP1995PLC020569 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA03931E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCA6501C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. Company’s Shares are
Listed on the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturers and Traders of Telecom Testing Equipment. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD1500000 |
|
|
|
|
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 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Singh |
|
Designation : |
Deputy Manager- Accounts |
|
Contact No.: |
91-40-27531324 |
|
Date : |
01.03.2011 |
LOCATIONS
|
Registered Office
: |
1-3-1026 And 1027, Singadikunta, Kavadiguda,Hyderabad-500080, |
|
Tel. No.: |
91-40-27531324 to 28 |
|
Fax No.: |
91-40-27535423 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
2-330, |
|
|
|
|
Factory2: |
Plot No.F-102, UPSIDC Industrial Area, Selaqui, Dehradun - 248008, |
|
|
|
|
Branch Office : |
5/30,B.R.Appt IInd Floor, West Patel Nagar,Near Rock Garden, |
|
Tel. No.: |
91-11-30964693 , 65544729 |
|
Fax No.: |
91-11-42488098 |
|
E-Mail : |
|
|
|
|
|
|
|
|
Branch Office(s) |
MUMBAI Flat No-302,Kamalalaya Darshan CO-Operative Society,Plot No.3,Tilak
Nagar,Road No.6,M.G.Road,Goregaon (West),Mumbai - 400062 |
|
Tel. No.: |
91-22-28769187 |
|
E-Mail : |
|
|
|
|
|
Branch Office(s) |
Gupta Para, |
|
Tel. No.: |
91-033-26573640 |
|
Fax No.: |
91-033-26573640 |
|
E-Mail : |
DIRECTORS
As on 31.03.2010
|
Name : |
Mr. Rama Krishna Reddy |
|
Designation : |
Chairman cum Managing Director |
|
|
|
|
Name : |
Mr. Rama Manohar Reddy |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mrs. Amulya Reddy |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Venkata Subbiah |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Harish K.Jain |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. M Madhusudhana Reddy |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Singh |
|
Designation : |
Deputy Manager- Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On : (31.12.2010)
|
Names of Shareholders |
No. of Shares |
Percentage |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
10,239,345 |
47.48 |
|
|
10,239,345 |
47.48 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
10,239,345 |
47.48 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
3,978,939 |
18.45 |
|
|
|
|
|
|
4,254,889 |
19.73 |
|
|
1,970,375 |
9.14 |
|
|
1,120,394 |
5.20 |
|
|
669,405 |
3.10 |
|
|
231,913 |
1.08 |
|
|
219,076 |
1.02 |
|
|
11,324,597 |
52.52 |
|
Total Public shareholding (B) |
11,324,597 |
52.52 |
|
Total (A)+(B) |
21,563,942 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
21,563,942 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business
: |
Manufacturers and Traders of Telecom Testing Equipment. |
PRODUCTION STATUS AS ON ( 31.03.2010)
|
Particulars |
Unit |
|
|
Actual
Production |
|
Portable Cable Fault Locator |
Nos |
|
|
15 |
|
Digital Cable Fault Locator (FM111) |
Nos |
|
|
497 |
|
MSC/ BSC Tool Kit |
Nos |
|
|
324 |
|
Power Meter |
Nos |
|
|
11 |
|
Light Source (1310/1550/1315mm) |
Nos |
|
|
70 |
|
Optical Varable Atlenduator |
Nos |
|
|
52 |
|
High Speed Data Circuit Tester |
Nos |
|
|
285 |
|
Optical Time Domain Reflect meter |
Nos |
|
|
48 |
|
Digital Communication Analyzer |
Nos |
|
|
28 |
|
Electronic Markets |
Nos |
|
|
21233 |
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Not Divulged by the Management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
State Bank Of Hyderabad, Raj Bhavan Road Branch, H. No. 6-3-1092, A
Block 1st Floor, Shanti Skhara Complex Bella Vista, Somajiguda,
Hyderabad-5000820, Andhra Pradesh, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Secured Loans
Unsecured Loans
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ramana Reddy and Associates Chartered Accountant |
|
Address : |
10-5-6/B, My |
|
|
|
|
Associates: |
Bhashwanath Power Projects Private Limited |
CAPITAL STRUCTURE
(AS on 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24000000 |
Equity Shares |
Rs.5/- each |
Rs. 120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21323942 |
Equity Shares (Previously 10661971 Equity Shares of Rs.
10/- each fully paid up splitted as 21323942 shares of Rs. 5/- each_ |
Rs. 5/- each |
Rs. 106.620
Millions |
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 |
106.620 |
106.620 |
66.594 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
271.796 |
215.832 |
125.728 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
378.416 |
322.452 |
192.322 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.214 |
24.040 |
23.631 |
|
|
2] Unsecured Loans |
0.052 |
4.510 |
11.064 |
|
|
TOTAL BORROWING |
28.266 |
28.550 |
34.695 |
|
|
DEFERRED TAX LIABILITIES |
3.779 |
8.281 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
410.461 |
359.283 |
227.017 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
76.420 |
40.554 |
36.956 |
|
|
Capital work-in-progress |
1.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
74.541 |
46.830 |
19.043 |
|
|
Sundry Debtors |
233.674 |
189.550 |
198.249 |
|
|
Cash & Bank Balances |
7.098 |
4.878 |
7.948 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
68.312 |
177.465 |
47.680 |
|
Total Current Assets |
383.625 |
418.723 |
272.920 |
|
|
Less : CURRENT LIABILITIES &
PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29.817 |
89.931 |
58.388 |
|
|
Other Current Liabilities |
1.245 |
0.722 |
1.719 |
|
|
Provisions |
20.022 |
9.341 |
27.646 |
|
Total Current Liabilities |
51.084 |
99.994 |
87.753 |
|
|
Net Current Assets |
332.541 |
318.729 |
185.167 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
4.894 |
|
|
|
|
|
|
|
|
TOTAL |
410.461 |
359.283 |
227.017 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
429.775 |
420.097 |
345.534 |
|
|
|
Other Income |
16.599 |
6.845 |
2.808 |
|
|
|
TOTAL |
446.374 |
426.942 |
348.342 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Trade Purchase |
274.853 |
289.784 |
173.102 |
|
|
|
Manufacturing
Expenses |
64.829 |
34.295 |
51.534 |
|
|
|
Administrative
Expenses |
37.080 |
74.691 |
27.041 |
|
|
|
Payment and
Benefits to Employees |
14.049 |
15.563 |
12.279 |
|
|
|
Prior Period
Adjustment |
1.309 |
414.333 |
263.956 |
|
|
|
Increase / Decrease in Stock |
[29.755] |
[21.413] |
|
|
|
|
TOTAL |
359.747 |
392.920 |
263.956 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
86.627 |
34.022 |
85.218 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL/
INTEREST |
8.513 |
10.396 |
9.722 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
78.114 |
23.626 |
75.496 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
7.852 |
6.685 |
6.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
70.262 |
16.941 |
68.958 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.151 |
0.419 |
14.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
62.111 |
16.522 |
54.867 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
88.058 |
78.186 |
31.076 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.553 |
0.413 |
1.372 |
|
|
|
Proposed Dividend |
5.331 |
5.331 |
5.331 |
|
|
|
Dividend Distribution Tax |
0.885 |
0.906 |
0.906 |
|
|
|
Dividend Distribution Tax (Previous year) |
0.000 |
0.000 |
0.148 |
|
|
BALANCE CARRIED
TO THE B/S |
142.400 |
88.058 |
78.186 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.757 |
9.887 |
3.068 |
|
|
TOTAL EARNINGS |
4.757 |
9.887 |
3.068 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
222.550 |
239.561 |
110.897 |
|
|
TOTAL IMPORTS |
222.550 |
239.561 |
110.897 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.91 |
1.61 |
9.75 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
55.950 |
84.750 |
58.240 |
|
Total Expenditure |
48.870 |
72.960 |
63.600 |
|
PBIDT (Excl OI) |
7.080 |
11.790 |
[5.360] |
|
Other Income |
2.700 |
2.720 |
2.110 |
|
Operating Profit |
9.780 |
14.500 |
[3.250] |
|
Interest |
1.810 |
3.000 |
2.230 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
7.970 |
11.500 |
[5.480] |
|
Depreciation |
1.950 |
2.030 |
2.100 |
|
Profit Before Tax |
6.020 |
9.470 |
[7.580] |
|
Tax |
[0.410] |
2.610 |
[0.470] |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
6.43 |
6.860 |
[7.120] |
|
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 |
6.430 |
6.860 |
[7.120] |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
% |
13.91 |
3.69 |
15.71 |
|
|
|
|
|
|
|
Net Profit
Margin (PBT/Sales) |
% |
14.45 |
4.03 |
19.96 |
|
|
|
|
|
|
|
Return on Total
Assets (PBT/Total Assets} |
% |
15.27 |
3.69 |
22.25 |
|
|
|
|
|
|
|
Return on
Investment (ROI) (PBT/Networth) |
|
0.19 |
0.05 |
0.36 |
|
|
|
|
|
|
|
Debt Equity
Ratio (Total
Liability/Networth) |
|
0.21 |
0.42 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current
Liability) |
|
7.51 |
3.87 |
3.11 |
|
|
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
- Outstanding dues of creditors other than micro enterprises and small enterprise |
24.717 |
86.709 |
51.537 |
|
- Creditors for expenses |
5.100 |
3.222 |
6.851 |
|
Total |
29.817 |
89.931 |
58.388 |
REVIEW OF
OPERATIONS
During the year, the company has recorded a Profit after Tax (PAT) of
Rs.62.100 Millions (previous year Rs. 16.500 Millions).
During the year, the company has achieved an increased Turnover of Rs.
429.800 Millions inspite of global
economic slowdown when compared to the previous year turnover of Rs. 420.100
Millions.
MANAGEMENT
DISCUSSION AND ANALYSIS
OVERVIEW OF FY
2009-10
The year subject acquiring a new growth momentum across its businesses
and markets. ATL has reported a sales turnover of Rs. 429.800 Millions for
Financial Year (FY) 2009-10 compared to Rs.420.100 Millions for the previous
year 08-09. Net profits of the Company are Rs. 62.100 Millions which has
increased as compared to the previous year’s net profit of Rs.16.500 Millions.
HIGH END
TECHNOLOGIES
Subject is penetrating Defence sector in the current financial year and
expecting atleast 50% business from this sector as this is a very promising
sector which has good profitability and the co. plans to make substantial
investments in the Defence sector.
Subject deals in hi-tech test and measuring equipments. The Company has
its manufacturing facility situated at Dehradun. ATL is ISO 9001:2000 Certified
Company manufacturing RF Power Meters, Data Testers, Fiber Optic Test
Equipments and Cable Fault Locators.
Currently, ATL manufactures products for Telephone Service Providers,
Defence Sector, Cable TV Operators and Railways and has added prestigious clients
like ERICSSON, HUAWEI Telecommunications and Alcatel Lucent in this financial
year.
Subject is currently working on the market and technological
requirements of 3G products for Telecom. Also, it is looking forward to sub
contracts from Defence Labs for manufacturing works to increase its sales
revenue in the current financial year.
Subject is designing RFID markers for locating optical fibre cables and
this is required for defence market and many business leads are under pipeline
for these markers.
Subject is focussing on mobile testers and hoping to get good orders in
this FY from HUAWEI, NOKIA and ERICSSON for the same.
INDUSTRY SCENARIO
As Tele-density in
There is a slow down in procurement by telephone operators during the
last year and the Sales are also effected, but there are four new operators
offering services and they are expecting good orders from these operators.
They are also looking at Diversification in Power Sector and are in the
process of acquiring Technology Companies to increase the sales revenues in the
coming years.
SWOT ANALYSIS
STRENGTHS
·
They are the biggest company in manufacturing of
test equipments in
·
As the R and D and
manufacturing costs are very less compared to competitors from US and Japan
which is helping them to increase the market share in India YOY (Year on Year)
without any price reduction.
·
They are also designing new products and recently
introduced 1st
WEAKNESSES
As the R and D budget is small compared to MNCs with which they can’t
introduce more products and added to it technologies are complex and technology
obsolescence is very high.
OPPURTUNITIES
·
The telecom market is growing exponentially and
·
There are eight existing operators in
·
The Tele-density is 50% and it can increase upto
65% by 2012 and all the Companies in
Mitigating
Factors:
- Foreign
Exchange fluctuations not only affect the Company but also other companies
as well and the selling prices of the products will automatically increase
by which they retain the margins.
- To meet
Chinese import invasion they are redesigning technologies to produce
products at lower cost
- To compete in
pricing and getting technical approvals in
Contingent Liabilities not provided for:
|
Particulars |
31.03.2010 Rs.
in Millions |
|
Bank Guarantees |
38.600 |
|
Letter of Credit |
37.893 |
|
Disputed Income Tax Liability |
-- |
|
Disputed |
1.906 |
Fixed Assets
- Computers
- Furniture and Fixtures
- Optical Test Equipment
- R and D Equipment
- Office Equipment
- Vehicles
AS PER WEBSITE
Profile:
UNAUDIATED
FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED ON 31ST
DECEMBER 2010
(Rs. in Millions)
|
Particulars |
3 Months Ending 31.12.2010 (Unaudited) |
9 Months Ending 31.12.2010 (Unaudited) |
|
1
a. Net Sales/ Income From Operations |
58.235 |
198.934 |
|
b.
Other Income |
2.107 |
7.267 |
|
Total Income (a+b) |
60.342 |
206.201 |
|
2.
Expenditure |
|
|
|
a.
Decrease/ Increase in Stock |
[13.206] |
[6.713] |
|
b.
Consumption of Material/ Purchase |
64.658 |
160.252 |
|
c.
Staff Cost |
4.015 |
11.201 |
|
d.
Depreciation |
2.101 |
6.083 |
|
e.
Other Expenditure |
8.134 |
20.433 |
|
Total Expenditure (a+b+c+d+e) |
65.702 |
191.256 |
|
3.
Profit form Operations before Interest and Taxes |
[5.360] |
14.945 |
|
4.
Interest |
2.229 |
7.039 |
|
5.
Profit After Interest Before Tax and Other Provisions |
[7.589] |
7.906 |
|
6.
Tax Expenses |
[0.469] |
1.732 |
|
7.
Other Provisions |
0.000 |
0.000 |
|
8.
Net Profit from ordinary activities after tax |
[7.120] |
6.174 |
|
9.
Extraordinary Items Net of Tax Expenses |
0.000 |
0.000 |
|
10.
Net Profit for the period after tax |
[7.120] |
6.174 |
|
11.
Paid up Equity Share Capita (Face Value of Shares is Rs. 5 each) |
107.820 |
107.820 |
|
12.
Reserves Excluding Revaluation Reserve |
0.000 |
0.000 |
|
13.
Earning Per Share (EPS) |
|
|
|
Basic
EPS |
[0.33] |
0.29 |
|
Diluted
EPS |
[0.33] |
0.29 |
|
14.
Public Shareholding |
|
|
|
Number
of Share |
11324597 |
11324597 |
|
Percentage
of Shareholding |
52.52 |
52.52 |
|
15.
Promoters and Promoters Group Shareholding |
|
|
|
a)
Pledged/ Encumbered |
|
|
|
Number
of Shares |
Nil |
Nil |
|
%
of shareholding (as a % of total shareholding of promoter and promoter group) |
Nil |
Nil |
|
%
of shareholding (as a % of total share capital of the company |
Nil |
Nil |
|
b)
Non- Encumbered |
|
|
|
Number
of Shares |
10239345 |
10239345 |
|
%
of shareholding (as a % of total shareholding of promoter and promoter group) |
100.00 |
100.00 |
|
%
of shareholding (as a % of total share capital of the company |
47.48 |
47.48 |
Notes:
1)
The above Un-audited Financial results were reviewed by the
Audit committee and approved by the Board
of Directors at their meeting held on 12th February 2011.
2)
During the quarter the company has not received any
investor complaints and there were no complaints lying unresolved at the
commencement and at end of the quarter.
3)
The Statutory auditors have carried out a limited review of
the above results in terms of clause 41 of listing agreement of the stock
exchange.
PRESS RELEASE
AISHWARYA TELECOM LIMITED FOURTH QUARTER RESULTS2010
AISHWARYA TELECOM NET PROFIT UP BY 383.64% AS COMPARED TO PREVIOUS YEAR
Aishwarya Telecom has achieved a turnover by
RS.431.700 Millions for 12 Months Ended March 2010
With PAT of Rs 63.300 Millions The PAT has
increased by 383.64% as against a PAT of Rs.16.500 Millions earned in the
corresponding period in the previous year
Aishwarya Telecom has achieved turnover of
Rs.86.500 Millions for the 4th quarter ended March 2010. Which has
grown by23.57% on Rs.70.000 Millions for the 4th quarter ended March
2009.The net profit for the current quarter is Rs.4.400 Millions: however the
company incurred loss in the corresponding quarter of previous year due to
foreign exchange loss .In the current financial year, there are not any
significant foreign exchange loss. In the current financial year, there are not
any significant foreign exchange losses due to favorable foreign exchange
rates.
The Company is focusing on Defense and Power
sector to increase its profitability and sales revenue in current financial
year.
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. 45.12 |
|
|
1 |
Rs. 73.43 |
|
Euro |
1 |
Rs. 62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT
FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.