BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
TERACOM LIMITED |
Principal Name 1 |
MR. MUKESH ARORA |
|
Status |
GOOD |
Principal Name 2 |
MR. RAJEEV VENKATRAMAN |
|
|
|
Registration # |
24-002950 |
|
Street Address |
PLOT NO. 250, KUNDAIM INDUSTRIAL ESTATE, KUNDAIM, |
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|
Established Date |
09.02.2001 |
SIC Code |
-- |
|
Telephone# |
91-832-3208260 |
Business Style 1 |
MANUFACTURING |
|
Fax # |
91-832-2396165 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
TELECOM PRODUCTS |
|
|
# of employees |
839 |
Product Name 2 |
OPTICAL FIBER CABLE |
|
Paid up capital |
Rs.123,177,000/- |
Product Name 3 |
POWER CABLE |
|
Shareholders |
FOREIGN HOLDINGS-13.48%
BODIES
CORPORATE-5.70% DIRECTORS
OR RELATIVES OF DIRECTORS-59.60% OTHER
TOP FIFTY SHAREHOLDERS-21.22%
|
Banking |
PUNJAB NATIONAL BANK |
|
Public Limited Corp. |
NO |
Business Period |
9 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
A (64) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
SUBSIDIARIES |
--
|
NEXTERA TELECOM PRIVATE LIMITED |
-- |
|
Note |
--
|
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,441,248,000 |
Current Liabilities |
3,523,991,000 |
|
Inventories |
538,820,000 |
Long-term Liabilities |
1,936,485,000 |
|
Fixed Assets |
1,303,310,000 |
Other Liabilities |
31,054,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
5,491,530,000 |
|
Invest& other Assets |
447,817,000 |
Retained Earnings |
2,116,488,000 |
|
|
|
Net Worth |
2,239,665,000 |
|
Total Assets |
7,731,195,000 |
Total Liab. & Equity |
7,731,195,000 |
|
Total Assets (Previous Year) |
6598.629 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
7,634,543,000 |
Net Profit |
284,601,000 |
|
Sales(Previous yr) |
6,973,865,000 |
Net Profit(Prev.yr) |
139,384,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
TERACOM LIMITED (w.e.f. 15.03.2002) |
|
|
|
|
Formerly Known
As : |
TOP CHOICE DETERGENT PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. 250, Kundaim Industrial Estate, Kundaim, |
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|
|
|
Country : |
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|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
09.02.2001 |
|
|
|
|
Com. Reg. No.: |
24-002950 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24241GA2001PLC002950 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing of Telecom Products, Optical Fiber Cable, Power Cable
and Conductors and executing turnkey contracts and providing services
relating thereto. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
Maximum Credit Limit : |
USD 8959000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having good track.
Financial positions of the company appears to be sound. Trade relations are
reported as fair. Business is active. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. 250, Kundaim Industrial Estate, Kundaim, Goa – 403 115, |
|
Tel. No.: |
91-832-3208260 / 3206879 / 1111236166 |
|
Fax No.: |
91-832-2396165 |
|
E-Mail : |
Sales- OFC: sales@teracomfibre.com
Sales-Telecom: sales@teracom.in Sales Power Cables: terexel@teracom.in Corporate Information: info@teracom.in |
|
Website : |
|
|
|
|
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Corporate Office : |
Teracom House, B – 84, Sector – 60, Noida – 201 301, |
|
Tel. No.: |
91-120-3290587/ 3290672/ 11113021003/ 3021004 |
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Fax No.: |
91-120-2585422 |
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Factory 2 : |
Plot No. 17 to 19 and 52 to 54, Sector – 5, Pant Nagar – 263 145, |
|
Location : |
Owned |
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|
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Factory 3 : |
102, Kundain Industrial Estate, Kundaim Goa - 403115, |
|
Location : |
Owned |
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Factory 4 : |
170, |
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Location : |
Owned |
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|
|
|
Overseas Office : |
C1-905, Ajman |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Mukesh Arora |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
B-26, Sector – 36, Noida – 201 301, |
|
Date of Birth/Age : |
27.05.1966 |
|
Qualification : |
M. Tech |
|
Experience : |
22 Years |
|
Date of Appointment : |
30.03.2003 |
|
DIN No.: |
01072375 |
|
|
|
|
Name : |
Mr. Rajeev Venkatraman |
|
Designation : |
Whole Director |
|
Address : |
F-59, Medha Apartments, Mayur Vihar Phase – I, |
|
Date of Birth/Age : |
26.06.1970 |
|
Date of Appointment : |
22.02.2002 |
|
DIN No.: |
01039823 |
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|
|
|
Name : |
Mr. Anirudh Kumar Jain |
|
Designation : |
Director |
|
Address : |
8/1 – B, Aravali View Rail Vihar, Sector – 56, Gurgaon – 122 003, |
|
Date of Birth/Age : |
02.08.1941 |
|
Date of Appointment : |
30.05.2006 |
|
DIN No.: |
00357560 |
|
|
|
|
Name : |
Mr. Ram Lakhan Dude |
|
Designation : |
Director |
|
Address : |
Flat 2, Sri Ram Arya Apartments, |
|
Date of Birth/Age : |
21.04.1947 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
0059675 |
|
|
|
|
Name : |
Mr. Nand Prakash Sahni |
|
Designation : |
Director |
|
Address : |
K.N.239 Westend Marg, Mehrauli, |
|
Date of Birth/Age : |
16.04.1941 |
|
Date of Appointment : |
30.05.2006 |
|
DIN No.: |
00037478 |
|
|
|
|
Name : |
Dr. Ved Prakash Chawla |
|
Designation : |
Director |
|
Address : |
Flat No.86, Anupam Apartmentm B-13, Vasundhra Enclave, Delhi-110 096,
India |
|
Date of Birth/Age : |
06.07.1942 |
|
Date of Appointment : |
30.05.2006 |
|
DIN No.: |
00343901 |
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|
|
|
Name : |
Mr. Badri Nath Iyengar |
|
Designation : |
Director |
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Address : |
174, |
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Date of Birth/Age : |
08.03.1937 |
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Date of Appointment : |
30.05.2006 |
|
Date of Ceasing : |
30.09.2010 |
|
DIN No.: |
00343985 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Raj Jain |
|
Designation : |
Chief Financial Office and Company Secretary |
|
Address : |
A-48, Sector-41, Noida – 201 301, |
|
Date of Birth/Age : |
24.10.1964 |
|
Qualification : |
CA, CS |
|
Experience : |
24 Years |
|
Date of Appointment : |
20.02.2009 |
SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Arora |
|
6616000 |
|
Rajeev Venkatraman |
|
552275 |
|
B |
|
48000 |
|
Sudershana Arora |
|
26000 |
|
Moser Investment Limited, UAE |
|
640000 |
|
Bharat Kotecha |
|
45000 |
|
Vipul Modi |
|
60000 |
|
Leena Modi |
|
20000 |
|
Lata Bhanshali |
|
1025000 |
|
Nemish S. Shah/ Rekha N. Shah |
|
1075000 |
|
Manjeet Cotton Private Limited, |
|
100000 |
|
Bunkim Finance and Investment Private Limited, |
|
100000 |
|
Jayati Finance and Investment Private Limited, |
|
100000 |
|
Urjita J. master |
|
50000 |
|
Four Diamensions Capital Markets (Private) Limited, |
|
111000 |
|
J.M. Financial Ventures Limited, |
|
260000 |
|
India Equity Growth Fund Limited, |
|
800000 |
|
Samara Capital Partners Fund Limited, |
|
220000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
13.48 |
|
Bodies
corporate |
|
5.70 |
|
Directors
or relatives of directors |
|
59.60 |
|
Other
top fifty shareholders |
|
21.22 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Telecom Products, Optical Fiber Cable, Power Cable
and Conductors and executing turnkey contracts and providing services
relating thereto. |
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·
Multi-Tube
Armored/Dielectric Cable ·
Uni-Tube
Armored/Dielectric Cable ·
FRP Rods · Aluminium Wire Rods |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Optical Fiber Cable |
Kms. Unitube |
34272 |
25447.648 |
|
FRP Rods |
Kms |
200000 |
120259.800 |
|
Customer Premise and other Telecom Equipments |
Nos. |
2000000 |
1141858 |
|
Transmission Equipments |
Nos. |
2500 |
1079 |
|
Power Cable |
CKms. |
30000 |
8229.183 |
|
House Wire |
CKms. |
41400 |
692.674 |
|
Conductor |
MT |
15000 |
12660.169 |
|
Ariel Bunched Cable |
CKms. |
10000 |
1851.264 |
|
Aluminium Wire Rod |
MT |
12000 |
1255.384 |
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|
|
|
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GENERAL INFORMATION
|
Suppliers : |
v Hongze Mechano-Electronic Manufacturing Company Limited |
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No. of Employees : |
839(Approximately) |
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Bankers : |
v
Punjab National Bank, BO: Large Corporate
Branch, Tolstoy House, Tolstoy Marg, v
ICICI Bank
Limited, v IDBI Bank v Yes Bank v HDFC Bank Limited |
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Facilities : |
Notes: a) Corporate Loan from Punjab National Bank is secured by way of First Charge on Land, Building and Plant and Machinery situated at Plot No.249, Kundaim Industrial Estate, Goa and on second charge basis on all current assets, fixed assets for OFC and CDMA units at 250, Kundaim Industrial Estate, Goa, Block assets at Pant Nagar, Uttarkhand, and 170, Kundaim Industrial Estate, Village Bhoma, Goa and further secured by way of personal guarantees of Mr. Mukesh Arora and Mr. Rajeev Venkatraman. b) External Commercial Borrowings from Standard Chartered Bank are secured by way of First Charge on immovable property situated at Plot No.250 A (adjacent to Plot No.250), Kundaim Industrial Estate, Kundaim, Goa and specified movable fixed assets purchased out of the ECB facility and by way of second pari passu charge over company’s immovable properties situated at 170 and 250, Kundaim Industrial Estate, Kundaim, Goa and Plot No.17 to 19 and 52 to 54, Sector 5 Pant Nagar, Industrial Estate, Uttaranchal present and future current assets of the Company and further secured by way of personal guarantees of Mr. Mukesh Arora and Mr. Rajeev Venkatraman. c) Working capital facilities including non fund based limits are securçd by way of first pan passu charge over current assets, first pan passu charge over the immovable properties and other fixed assets of the company situated at Plot No.250, Kundaim Industrial Estate, Goa, Plot No.170, Kundaim Industrial Estate, Goa and plot no.17 to 19 and 52 to 54, Sector 5 Pant Nagar, Industrial Estate, Uttaranchal and also by way of second pari passu charge over the other fixed assets of the Company situated at Plot No.249 and 250 A, (adjacent to Plot No.250) Kundaim Industrial Estate, Goa and further secured by way of personal guarantees of Mr. Mukesh Arora and Mr. Rajeev Venkatraman. d) Vehicle loans are secured against hypothecation of respective vehicles.
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Banking
Relations : |
-- |
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Financial
Institutions: |
Sojitz Corporation,
1-20, Akasaka 6 – Chome, Minato –Ku, |
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|
|
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
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Address : |
42, Free Press House, 215 , Nariman Point, Mumbai – 400 021, |
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Pan No.: |
AAAFH2010F |
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|
|
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Subsidiaries : |
Nextera Telecom
Private Limited CIN No.: U31300UP2004PTC029210 Scantec ( CIN No.: U45203DL1991PTC199213 Teracom
Infosolutions Private Limited CIN No.: U72900DL2002PTC117074 Teracom HX Private
Limited CIN No.: U45209UP2008PTC034905 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 millions |
|
1000000 |
Compulsorily
Convertible Preference shares |
Rs.100/- each |
Rs.100.000 millions |
|
|
Total
|
|
Rs.500.000
millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12317700 |
Equity Shares |
Rs.10/- each |
Rs.123.177 millions |
|
|
|
|
|
(Out of above 2000000 Equity Shares allotted
as Fully Paid-up Bonus Shares by capitalization of profits.)
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 |
123.177 |
123.177 |
123.177 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2116.488 |
1834.493 |
1703.693 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2239.665 |
1957.670 |
1826.870 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1646.485 |
1381.108 |
848.767 |
|
|
2] Unsecured Loans |
290.000 |
260.538 |
85.640 |
|
|
TOTAL BORROWING |
1936.485 |
1641.646 |
934.407 |
|
|
DEFERRED TAX LIABILITIES |
22.905 |
31.119 |
24.497 |
|
|
|
|
|
|
|
|
TOTAL |
4199.055 |
3630.435 |
2785.774 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1303.310 |
1221.460 |
816.274 |
|
|
Capital work-in-progress |
428.636 |
102.010 |
206.792 |
|
|
|
|
|
|
|
|
INVESTMENT |
19.181 |
19.092 |
19.091 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
538.820 |
427.592 |
394.529 |
|
|
Sundry Debtors |
4589.310 |
3782.575 |
2624.289 |
|
|
Cash & Bank Balances |
356.590 |
622.996 |
197.377 |
|
|
Other Current Assets |
192.686 |
199.449 |
40.224 |
|
|
Loans & Advances |
302.662 |
223.455 |
154.962 |
|
Total
Current Assets |
5980.068 |
5256.067 |
3411.381 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3283.064 |
2855.029 |
1516.629
|
|
|
Other Current Liabilities |
240.927 |
107.380 |
126.292 |
|
|
Provisions |
8.149 |
5.785 |
28.989 |
|
Total
Current Liabilities |
3532.140 |
2968.194 |
1671.910 |
|
|
Net Current Assets |
2447.928 |
2287.873 |
1739.471 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
4.146 |
|
|
|
|
|
|
|
|
TOTAL |
4199.055 |
3630.435 |
2785.774 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7634.543 |
6973.865 |
4890.936 |
|
|
|
Other Income |
84.373 |
48.612 |
19.726 |
|
|
|
TOTAL (A) |
7718.916 |
7022.477 |
4910.662 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed / Sold |
6084.489 |
5706.559 |
3789.779 |
|
|
|
Installation and Errection Expenses |
323.838 |
264.135 |
263.736 |
|
|
|
Employee Cost |
178.223 |
140.193 |
113.304 |
|
|
|
Manufacturing and Other Expenses |
390.722 |
455.251 |
251.186 |
|
|
|
Increase/ Decrease in Stock |
21.850 |
(95.956) |
(89.382) |
|
|
|
TOTAL (B) |
6999.122 |
6470.182 |
4328.623 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
719.794 |
552.295 |
582.039 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
342.071 |
347.820 |
119.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
377.723 |
204.475 |
462.514 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
83.469 |
55.135 |
35.186 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
294.254 |
149.340 |
427.328 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.653 |
9.956 |
64.481 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
284.601 |
139.384 |
362.847 |
|
|
|
|
|
|
|
|
|
|
Less: Prior period adjustments for Taxes |
(0.311) |
5.667 |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
284.912 |
133.717 |
362.847 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
73.200 |
279.900 |
132.687 |
|
|
TOTAL EARNINGS |
73.200 |
279.900 |
132.687 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2375.800 |
2218.500 |
1273.363 |
|
|
|
Capital Goods |
214.300 |
4.700 |
109.065 |
|
|
TOTAL IMPORTS |
2590.100 |
2223.200 |
1382.428 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
23.11 |
11.32 |
31.93 |
|
|
|
- Diluted |
23.07 |
11.26 |
30.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.69
|
1.98
|
7.39
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.85
|
2.14
|
8.74
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.04
|
2.31
|
10.11
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.08
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.44
|
1.52
|
1.43
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
1.77
|
2.04
|
LOCAL AGENCY FURTHER INFORMATION
MANAGEMENT
DISCUSSIONS AND ANALYSIS (MDA)
Financial Review
During the year the Sales and Other Income of the Company has increased to
Rs.8003.900 millions from Rs.7222.700 millions in the previous year showing an
increase of 10.82%. The Profit before Taxation has gone upto Rs.294.300
millions as against Rs.149.300 millions during the previous financial year.
Capital Structure
During the year, Company has not allotted any shares, thus, the paid up
share capital of the Company remains at Rs.123.177 millions.
Industry Structure
and Developments
Telecom Sector
Telecommunication sector has emerged as one of the fastest growing
sectors in
Wireless Subscribers in
Internet/
Broadband Services
The total broadband subscribers’ base has reached 8.77 million by end of
March 2010. Recognizing the potential of broadband service in the growth
process, it has been proposed in the Eleventh Five Year Plan to provide broadband
for all secondary and higher secondary schools, all public health care centres
and all gram panchayats. It is also visualized to link block headquarters and
the nearest exchange through the State Wide Area Networks (SWAN) connectivity.
New opportunities
in Telecom Sector
3G Services and
WIMAX
With the aim to increase the level of broadband penetration in the
country, especially in rural areas, DOT has recently issued Guidelines for
Broadband Wireless Access (BWA) services and 3G services.
3G refers to the third generation of mobile phone standards. Across the
world there is a growing demand for 3G Technology due to enhanced voice
capacity and data applications. With the deployment of 3G technology in
Presently in
The company has pioneered development of 3G Data card and has received
BSNL validation for its range of 3G Data cards. You will be pleased to know
that the company has also executed commercial order of 3G Data card for BSNL
and MTNL.
The company has also pioneered development of complete range of ADSL 2
Modems and is currently executing commercial orders of the same.
The Company has also executed commercial orders for GEPON equipments for
BSNL during the Year. R and D department of company has developed state-of-art
Wimax data card and is in the process of getting it technically validated.
During this year lot of emphasis was given on development of new types
of OFC Like:
·
Intrusion proof cable for defence application.
·
Microduct cable for urban and FTTH application.
·
Drop cable of FTTH Application.
·
Steel wire armoured cable.
Power Sector
Government of
In order to ensure that the increased power generation reaches the
entire country an expansion of the regional transmission network and inter
regional capacity to transmit power would be essential. The need to develop
inter regional capacity is required because resources are unevenly distributed
in the country and power needs to be carried great distances to areas where
load centres exist. The country’s transmission perspective plan for eleventh
plan focuses on the strengthening of National Power Grid through addition of
over 60,000 ckm of Transmission Network by 2012. The inter-regional power
transfer capacity is to be further enhanced to 37,000 MW by 2012 through
creation of “Transmission Super Highways”. Based on the expected generation
capacity addition in Eleventh plan, an investment of about Rs.750 bn is
envisaged in Central Sector and Rs.650 bn is envisaged in the State Sector.
The power industry in
OUTLOOK
Since significant investment is expected in telecom and power sectors,
the outlook for the Company seems to be bright. The existing line of products
and services are being continuously developed. Various efforts are on the way
to develop and acquire new technologies. The focus of the Company will remain
on equipment supply and services and increased attention will be given to
business where financial requirement is less and collection is better.
SUBSIDIARIES
Nextera Telecom Private Limited, Scantec (
ISO 9001 - 2000
ACCREDITATION
The Company’s manufacturing facility at
SHARE CAPITAL
The Authorised Share Capital is Rs.500.000 millions comprising of
40000000 equity shares of Rs.10/- each and 1000000 compulsorily convertible
preference shares of Rs.100/- each. The Paid-up Capital of the Company is
Rs.123.177 millions (12317700 Equity Shares of Rs.10/-each).
AMALGAMATION
The company has initiated process of amalgamating Scantec (
FORM 8:
|
Corporate
identity number of the company |
U24241GA2001PLC002950 |
|
Name of the
company |
TERACOM LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No. 250, Kundaim Industrial Estate, Kundaim, Goa – 403 115, E-Mail: phajela@teracom.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10106543 |
|
Type of charge |
Immovable property Any interest in immovable property |
|
Particular of
charge holder |
Punjab National Bank, BO: Large Corporate Branch, Tolstoy House,
Tolstoy Marg, E-Mail: bo2164@pnb.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Continuity in favor of PNB Consortium to continue to hold title deeds
securing credit facilities of Rs.6881.300 millions. |
|
Date of
instrument Creating the charge |
22/12/2010 |
|
Amount secured by
the charge |
Rs.6881.300
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
As intimated by Consortium banks from time to time Terms of
Repayment: payable on demand Margin: As stipulated
in individual sanction letter and decided time to time Extent and
Operation of the charge: First pari passu charge by constructive delivery of
title deeds of immovable property situated at Pant Nagar, Uttrakand, 250 and
170, Kundaim Industrial Estate, Goa
and second pari passu charge on property situated at 249, Kundaim
Industrial Estate, Goa in favor of all lenders to the extent of their share
in the total WC limit of Rs.6881.300 millions. |
|
Short particulars
of the property charged |
First Pari Passu
charge on immovable property(Including land and building) at Plot No. 170 and
250, Kundaim Industrial Estate, First pari passu
charge on immovable property(including land and Building) at Plot
No.17-19,52-54, Sector-5, Integrated Industrial Area, SIDCUL, Pant Nagar,
District Udham Singh Nagar, Uttrakhand Second charge on
pari passu basis on property of Power Cable unit at 249, Kundaim Industrial
Estate, |
|
Date of latest
modification prior to the present modification |
20/12/2010 |
|
Particulars of
the present modification |
The sanctioned
working Capital limit of Rs.6881.300 millions consisting of PNB(Lead
bank),YES Bank, IDBI Bank, ICICI Bank, Vijaya Bank and State Bank of India
already secured by hypothecation of property and shall continue to be secured
by constructive delivery of title deed on first pari passu basis on immovable
property situated at Pant Nagar, Uttrakhand, 250 and 170 Kundaim Estate, Goa
and second charge basis on property situated at 249, Kundaim Industrial Estate,
Goa. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10042682 |
|
Corporate
identity number of the company |
U24241GA2001PLC002950 |
|
Name of the
company |
TERACOM LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 250, Kundaim Industrial Estate, Kundaim, Goa – 403 115, |
|
Type of charge |
Book Debts Movable Property Any interest in
immovable property |
|
Particular of
charge holder |
v
Punjab National Bank, B.O Large Corporate Branch, Tolstoy House, Tolstoy Marg, E-Mail: bo2164@pnb.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
25.06.2009 letter
of IDBI Bank Limited evidencing continuation of mortgage by deposit of title
deeds by way of constructive delivery over its immovable properties situated at
plot No.249, Kundaim Industrial Estate, Goa- 403115 together with all
building and structure thereon and all plants and machinery attached to earth
or permanently fastened to anything attached to earth which is already held
by IDBI Bank Limited on 1st charge basis for securing its term
loan of Rs.140.000 millions |
|
Date of
instrument Creating the charge |
25.06.2009 |
|
Amount secured by
the charge |
Rs.6000.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
intimated by the consortium banks from time to time Terms of Repayment The working
capital limits sanctioned by consortium Banks headed by Punjab National Bank
(Lead Bank ) are payable on demand Margin As may by
stipulated by the consortium Bank from time to time Extent and Operation of the charge 100% in favour of
all lenders on pari passu basis to the extend of their shares in the total working
capital limits sanctioned by consortium banks headed by Punjab National Bank.
|
|
Short particulars
of the property charged |
All those pieces
and parcels of land measuring 133335 sq. mtr. Situated at Plot No.249,
Kundaim Industrial Estate, Kundaim, |
|
Date of latest
modification prior to the present modification |
03.12.2008 |
|
Particulars of the
present modification |
The term loan of
Rs.140.000 millions in favour of IDBI Bank Limited, on 1st charge
basis was extended by way of constructive delivery on 2nd charge
basis by equitable mortgage in respect of all those pieces and parcels of
land measuring 133335 s/m situated at Plot No.249, Kundaim Industrial Estate,
Kundaim, Goa- 403115 together with all plant and machinery attached or
permanently fastened to anything attached to earth and all buildings and
structures thereon in favour of PNB cons. For securing WC facilities of
Rs.6000.00 millions |
|
Name of the company |
TERACOM PRIVATE LIMITED |
|
Presented
By |
Punjab National Bank and Teracom Private
Limited |
|
1) Date and description of instrument creating the change |
i)
Deed of Hypothecation to
secure LC on DA Basis ii)
General Counter Indemnity,
both dated 13.10.2005 Copy of sanction letter dually accepted by the
borrower. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.30.000
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 |
i)
Hypothecation of goods/
assets represented by documents drawn/ covered under the Letter of Credit
issued under the above said limit, which now or hereafter from time to time
during the continuance of this agreement shall be brought in, stored or to be
in or about their premises or godowns at 250, Kundaim Industrial Estate,
Kundaim, Goa or any other godowns or to be in course of transit from one
godown to another or wherever else the same may be. ii)
General Counter Indemnity of
the Company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
i)
The company agree to
reimburse and indemnity the Bank for all the amounts paid under LG together
with interest as applicable to Cash Credit (Presently at the rate of BPLR + 1.50%
i.e. 12.25%p.a.) or such other rate as may be prescribed by the bank from
time to time for cash credit amount with monthly rest and for costs and
charges. i)
Margin
on ILC/ FLC ( DA/DP ): 10% upto 90 usance and beyond 90 days iii)
Margin on LG: 20% (100%
margin for guarantees against disputed liabilities iv)
Commission on ILC/FLC (DA/DP)
and LG shall be charged as per schedule of service charges |
|
5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank, Large Corporate Branch, A-9, |
CONTINGENT
LIABILITIES:
|
Claims against
the Company not acknowledged as debts. |
31.03.2010 (Rs.
in millions) |
|
a) Unexpired Letters of Credit (margin money kept by way of fixed
deposits Rs.143.663 millions. |
1157.626 |
|
b) Letter of guarantee/ bank guarantee issued by Bank (margin money
kept by way of fixed deposits Rs.78.140 millions |
1256.522 |
|
c) Corporate guarantees given by the company to the Banks on behalf of
Subsidiaries and others |
321.000 |
|
d) Capital contracts to be executed (net of Advances) |
158.425 |
|
e) Claims against the company not acknowledged as debt: |
|
|
- Towards excise duty, custom duty, income tax and entry tax etc. |
30.312 |
|
- By the customer |
104.667 |
FIXED ASSETS
v
v
Building
v
Plant and Machinery
v
Vehicles
v
Office Equipments
v
Computer and Printer
v
Furniture and Fixture
v
Software
WEBSITE DETAILS:
Business:
Subject is one of the leading private Sector companies in
As Telecom and Power Sectors continue to get unshackled in
Subject’s diversified status originates from its chosen corporate strategy to create multiple drivers of growth on its test competencies: low cost manufacturing, superior technology absorption skills, Highly skilled manpower, effective supply chain management and widely spread Service Centers. Over a period of time, the strategic forays into new businesses are likely to give access to a significant market share for Subject in these emerging and high growth markets.
Milestones:
v Incorporated as Teracom Private Limited. Mar, 2002
v
Signed Strategic MoU for cooperation to manufacture and supply of CDMA
2000 1X Mobile Handsets in
v
Bagged Bulk Contract for Supply of CDMA 2000 1X
v
Received ISO9001:2000 accreditation of
v Received prestigious RDSO Type Approval for Armoured Fiber Optic Cables for Supply to Indian Railways. May, 2004
v Received TEC Type Approval for 12F/24F/48F Fiber Optic Cables.
v
Signed Strategic MoU for co-operation to manufacture and supply CDMA
Fixed Wireless Phone in
v Bagged Bulk Contract for Supply of 525,000 Units of CDMA 2000 1X Fixed Wireless Phone worth Rs.2370.000 millions. December, 2004
v Exceeded the Rs.1000.000 millions Turnover mark. June, 2005
v Received Infrastructure Approval for manufacture of High Fiber Count Ribbon Fiber Optic Cable.
v Commenced supplies of ADSL2+ CPE MODEMS.
v Received contract for Supply of 100,000 Units of CDMA 2000 1X Fixed Wireless Phones. February, 2006
v
Commenced partial production of Power/Control Cables at
v Initiated green field HT Power Cable Project in Uttaranchal. May, 2006
v Received prestigious ISO 14001 certification.
v Crossed Rs.2000.000 millions Turnover Milestone. June, 2006
v Bagged Contract for Supply of 401,000 Units of CDMA 2000 1X Fixed Wireless. December, 2006
v Received Commercial Supply Contract for High Fiber Count Ribbon Fiber Optic Cable. January, 2007
v
Received Letter of Intent for Supply of High Fiber Count Ribbon Fiber
Optic Cable using G.652D Fiber, for the first time in
v
Bagged Turnkey Service Contract for Installation and Commission of
Telecom Infrastructure for leading Telecos in
v First Indian Company to cross Supply Landmark of 1 Million CDMA 2000 1X Phones. June, 2007
v Crossed Turnover
of INR5Billion.
Bagged National Telecom Award for ‘Emerging
Manufacturer in
The Company
Subject is fast emerging Corporate House with significant
business interests in 2 exponentially growing Business Sectors – Telecom and
Power. With a desire to cater fully integrated Products and Services to their prestigious
list of Clients, Subject has set up world-class manufacturing facilities in
To ensure continuity and sustainability of their commitment and continuous improvement in their products to their valued customers, Subject has put in place Quality Management Systems and Processes in accordance with ISO 9001 and ISO 14001 international quality standards.
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.45.03 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
64 |
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.