MIRA
INFORM REPORT
|
Report Date : |
09.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHARTI AIRTEL LIMITED [w.e.f.
24.04.2006] |
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|
|
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Formerly Known As : |
BHARTI
TELE-VENTURES LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
07.07.1995 |
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Com. Reg. No.: |
55-070609 |
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Capital Investment / Paid-up Capital : |
Rs.18988.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L74899DL1995PLC070609 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELB04730F |
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Legal Form : |
A Public Limited
Liability Company. The company’s
shares are listed on the Stock Exchanges. |
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Line of Business : |
Providing Tele-Communications
Services |
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|
No. of Employees
: |
24538
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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
1800000000 |
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|
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a
well-established and reputed company. Available information indicates high
financial responsibility of the company. Directors are reported as experienced
and respectable industrialists. Financial position of the company is good.
Payments are usually correct and as per commitments. The company can
be considered good for normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
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|
Tel. No.: |
91-11-46666100 /
42666500 |
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Fax No.: |
91-11-41666137 |
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E-Mail : |
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Website : |
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Corporate Office
: |
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Tel No.: |
91-124-4552222 |
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Fax No.: |
91-124-4552233 |
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Email : |
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Branches : |
Located At:
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Circle Offices : |
·
·
Andhra
Pradesh ·
·
·
·
Haryana ·
·
Himachal
Pradesh ·
·
Karnataka ·
Madhya
Pradesh ·
Chattisgarh ·
·
Rajasthan ·
Tamil
Nadu and Kerala ·
Uttar
Pradesh and Uttaranchal ·
|
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Sunil Bharti
Mittal |
|
Designation : |
Chairman and
Managing Director |
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|
|
|
Name : |
Mr. Manoj Kohli |
|
Designation : |
CEO (International)
and Joint Managing Director |
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|
Name : |
Mr. Ajay Lal |
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Designation : |
Non-Executive Director |
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Date of Birth / Age : |
08.08.1961 |
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Qualification : |
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Experience : |
Management, Private Equity, Project Finance and Corporate Banking |
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Other Directorship Held : |
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Name : |
Mr. Akhil Gupta |
|
Designation : |
Non-Executive Director |
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Date of Birth / Age : |
22.12.1955 |
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Qualification : |
CA, Advanced
Management Program at |
|
Experience : |
Financial
Management |
|
Other Directorship Held : |
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|
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|
Name : |
Ms. Chua Sock
Koong |
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Designation : |
Non-Executive Director |
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|
Name : |
Mr. Craig Edward Enrich |
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Designation : |
Non-Executive Director |
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Date of Birth / Age : |
14.05.1955 |
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Qualification : |
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|
|
|
Name : |
Mr. Lord Evan
Mervyn Davies |
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Designation : |
Non-Executive Director |
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|
|
Name : |
Mr. Hui Weng
Cheong |
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Designation : |
Non-Executive Director |
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Name : |
Mr. N Kumar |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Nilesh Arora |
|
Designation : |
Non-Executive Director |
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Date of Birth / Age : |
09.02.1968 |
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Qualification : |
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Name : |
Mr. Pulak Prasad |
|
Designation : |
Non-Executive Director |
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|
Name : |
Mr. Rajan Bharti
Mittal |
|
Designation : |
Non-Executive Director |
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Date Of Birth : |
05.01.1960 |
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Qualification : |
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Date Of Appointment |
07.07.1995 |
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Name : |
Mr. Rakesh Bharti
Mittal |
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Designation : |
Non-Executive Director |
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Date of Birth : |
18.09.1955 |
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Qualification : |
Engineering from the YMCA |
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Date Of Appointment : |
07.07.19555 |
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Name : |
H E Dr. Salim
Ahmed Salim |
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Designation : |
Non-Executive Director |
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|
Name : |
Ms. Tan Yong Choo |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Tsun-yan
Hsieh |
|
Designation : |
Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kapoor |
|
Designation : |
CEO ( |
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|
|
Name : |
Ms. Vijaya
Sampath |
|
Designation : |
Group General
Counsel and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Category of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1735453890 |
45.70 |
|
|
1735453890 |
45.70 |
|
|
|
|
|
|
857180286 |
22.57 |
|
|
8493000 |
0.22 |
|
|
8493000 |
0.22 |
|
|
865673286 |
22.80 |
|
Total shareholding of Promoter and Promoter Group (A) |
2601127176 |
68.50 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
145295224 |
3.83 |
|
|
2457793 |
0.06 |
|
|
162012710 |
4.27 |
|
|
642750737 |
16.93 |
|
|
952516464 |
25.08 |
|
|
|
|
|
|
173105810 |
4.56 |
|
|
|
|
|
|
43702286 |
1.15 |
|
|
11291321 |
0.30 |
|
|
15787039 |
0.42 |
|
|
55 |
- |
|
|
5082710 |
0.13 |
|
|
3246535 |
0.09 |
|
|
3315306 |
0.09 |
|
|
4142433 |
0.11 |
|
|
243886456 |
6.42 |
|
Total Public shareholding (B) |
1196402920 |
31.50 |
|
Total (A)+(B) |
3797530096 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
3797530096 |
- |
(1) Indian
Bodies Corporate
Any OtherNote:
1. For determining public shareholding for the
purpose of Clause 40A
2. For definitions of Promoter and Promoter
Group, refer to Clause 40A.
3. Public shareholding
4. The term 'encumbrance' has the same meaning
as assigned to it in regulation 28(3) of the SAST Regulations, 2011.
5. Bharti Telecom Limited is the promoter of
Bharti Airtel Limited as described in IPO prospectus dated February 07, 2002
6. Pastel Limited qualifies as a " deemed
promoter" u/r 2(h) of SEBI (Acquisition of shares and Takeovers)
Regulations, 1997 but it is not having control over the listed Company nor is a
person acting in concert with promoter (Bharti Telecom Limited) as defined u/r
2(1)(e) of the Regulations.
7. Indian Continent Investment Limited is a
person acting in concert with Bharti Telecom Limited.
8. Viridian Limited is a person acting in
concert with Pastel Limited. As mentioned above, Pastel Limited qualifies as a
" deemed promoter" u/r 2(h) of SEBI (Acquisition of shares and Takeovers)
Regulations, 1997 but it is not having control over the listed Company nor is a
person acting in concert with promoter (Bharti Telecom Limited) as defined u/r
2(1)(e) of the Regulations.
BUSINESS DETAILS
|
Line of Business : |
Providing Tele-Communications
Services |
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|
|
|
Products : |
Basic and
Cellular Telephone Services, Broad-Band and Long Distance Communication
Services. |
GENERAL INFORMATION
|
No. of Employees : |
24538
(Approximately) |
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Bankers : |
ICICI Bank
Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Statutory Auditors S. R. Batliboi And Associates Chartered
Accountants Internal Auditors ·
Price
Waterhouse Coopers Private Limited ·
ANB Consulting
Private Limited |
|
|
|
|
Associates/Associate of subsidiary : |
·
Alcatel-Lucent Network Management Services India
Limited ·
Bharti Teleports Limited ·
Tanzania Telecommunications Limited (Associate of
Bharti Airtel |
|
|
|
|
Joint Ventures/Joint Venture of Subsidiary : |
·
Forum I Aviation Limited (Joint Venture of Bharti
Airtel Services Limited) ·
Indus Towers Limited (Joint Venture of Bharti
Infratel Limited) ·
Bridge Mobile Pte Limited |
|
|
|
|
Entities where control exist – Subsidiary/Subsidiaries of Subsidiary : |
·
Bharti Hexacom Limited ·
Bharti Airtel Services Limited ·
Bharti Telemedia Limited ·
Bharti Airtel ( ·
Bharti Airtel Lanka (Private) Limited ·
Bharti Airtel ( ·
Bharti Airtel ( ·
Bharti Airtel (Hongkong) Limited ·
Bharti Infratel Limited ·
Network i2i Limited ·
Bharti Airtel Holdings ( ·
Bharti Airtel ( ·
Bharti Infratel Lanka (Private) Limited
(subsidiary of Bharti Airtel Lanka (Private) Limited) ·
Bharti Infratel Ventures Limited (subsidiary of
Bharti Infratel Limited) ·
Airtel M Commerce Services Limited (Incorporated
on April 1, 2010) ·
Bharti Airtel ( ·
Bharti Airtel ( ·
Bharti Airtel International ( ·
Bharti International ( ·
Airtel Bangladesh Limited (formerly Warid Telecom
International Limited) (subsidiary of Bharti Airtel Holdings ( ·
Bharti Airtel International ( ·
Bharti Airtel Africa B.V. (Subsidiary of Bharti
Airtel International (Netherlands) B.V.) Other subsidiaries of Bharti Airtel Africa B.V. : ·
Africa Towers N.V. (incorporated on October 5,
2010) ·
Airtel ( ·
Airtel (SL) Limited (formerly Celtel Sierra Leone
Limited) ·
Airtel Burkina Faso S.A. (formerly Celtel Burkina
Faso S.A.) # ·
Airtel ·
Airtel DTH Services (K) Limited (incorporated on
January 18, 2011) ·
Airtel DTH Services ( ·
Airtel DTH Services Burkina Faso S.A.
(incorporated on March 30, 2011) ·
Airtel DTH Services Congo S.A. (incorporated on
November 26, 2010) ·
Airtel DTH Services Ghana Limited (incorporated
on November 2, 2010) ·
Airtel DTH Services Madagascar S.A. (incorporated
on March 15, 2011) ·
Airtel DTH Services Malawi Limited (incorporated
on November 26, 2010) ·
Airtel DTH Services Niger S.A. (incorporated on
November 29, 2010) ·
Airtel DTH Services Nigeria Limited (incorporated
on January 27, 2011) ·
Airtel DTH Services T.Chad S.A. (incorporated on
February 18, 2011) ·
Airtel DTH Services Tanzania Limited
(incorporated on January 27, 2011) ·
Airtel DTH Services Uganda Limited (incorporated
on November 26, 2010) ·
Bharti DTH Services Zambia Limited (incorporated
on Feb 11, 2011) ·
Airtel Madagascar S.A. (formerly Celtel
Madagascar S.A.) ·
Airtel Malawi Limited (formerly Celtel Malawi
Limited) ·
Airtel Networks Kenya Limited (formerly Celtel
Kenya Limited)# ·
Airtel Networks Limited (formerly Celtel Nigeria
Limited) ·
Airtel Tanzania Limited (formerly Celtel Tanzania
Limited)# ·
·
Airtel Towers S.L. Company Limited (incorporated
on February 2, 2011) ·
Airtel Uganda Limited (formerly Celtel Uganda
Limited) ·
Bharti Airtel Acquisition Holdings B.V. ·
Bharti Airtel Burkina Faso Holdings B.V. ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel DTH Holdings B.V. (incorporated on
September 28, 2010) ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel IP Netherlands B.V. (dissolved
w.e.f. December 30, 2010) ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel Middle East B.V. (dissolved w.e.f.
December 30, 2010) ·
Bharti Airtel Morocco Holdings B.V. (dissolved
w.e.f. December 30, 2010) ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel RDC Holdings B.V. ·
Bharti Airtel Services B.V. ·
Bharti Airtel ·
Bharti Airtel ·
Bharti Airtel Tanzania Holdings B.V. (dissolved
w.e.f December 30, 2010) ·
Bharti Airtel ·
Bharti Airtel ·
·
Celtel ( ·
Celtel Cameroon SA ·
Celtel Chad S.A.# ·
Celtel ·
Celtel Gabon S.A. ·
Celtel Niger S.A. ·
Celtel Zambia plc ·
Channel Sea Management Co Mauritius Limited ·
·
Indian Ocean Telecom Limited ·
·
·
Malawi Towers Limited (incorporated on December
15, 2010) ·
Mobile Commerce Congo S.A. ·
Mobile Commerce Gabon S.A (incorporated on
October 26, 2010) ·
·
MSI-Celtel Nigeria Limited ·
·
Partnership Investments Sprl ·
Société Malgache de Telephonie Cellulaire SA ·
·
·
Telecom Seychelles Limited ·
Towers Support Nigeria Limited (incorporated on
March 7, 2011) ·
Uganda Towers Limited (incorporated on December
30, 2010) ·
Zain (IP) Mauritius Limited ·
Zain Developers Form ·
Zain Mobile Commerce Tchad SARL (formerly Zain
Mobile Commerce Tchad) ·
Zain Plc (dissolved w.e.f. January 11, 2011) ·
Zambia Towers Limited (incorporated on February
7, 2011) ·
Zap Holdings B.V. ·
Zap ·
Zap Niger S.A. ( ·
Zap Trust Burkina Faso S.A. (incorporated on
September 27, 2010) ·
Zap Trust Company (SL) Limited ( ·
Zap Trust Company Limited ( ·
Zap Trust Company Limited ( ·
Zap Trust Company Limited ( ·
Zap Trust Company Nigeria Limited ·
Zap Trust Company Tanzania Limited (incorporated
on November 11, 2010) ·
Zap Trust Company Uganda Limited (incorporated on
October 7, 2010) ·
ZMP Limited ( Note # Transactions of similar nature with such subsidiaries have been
clubbed and shown under the head ‘Other African Subsidiaries’ as their
contribution to total transaction value is less than 10%. |
|
|
|
|
Entities where Key Management Personnel and its relatives exercise
significant influence/Group Companies : |
·
Beetel Teletech Limited ·
Bharti Airtel Employees Welfare Trust ·
Bharti Axa General Insurance Company Limited ·
Bharti Axa Investment Managers Private Limited ·
Bharti Axa Life Insurance Company Limited ·
Bharti Enterprises Limited ·
Bharti Foundation ·
Bharti Realty Holdings Limited ·
Bharti Realty Limited ·
Bharti Retail Limited ·
Bharti Wal-Mart Private Limited ·
Centum Learning Limited ·
Comviva Technologies Limited ·
Fieldfresh Foods Private Limited ·
Guernsey Airtel Limited ·
Indian Continent Investment Limited ·
Jersey Airtel Limited ·
Nile Tech Limited |
|
|
|
|
Entities having significant influence over the Company : |
·
Singapore Telecommunications Limited ·
Pastel Limited ·
Bharti Telecom Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000000 |
Equity Shares |
Rs.5 /- each |
Rs.25000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3797530096 |
Equity Shares |
Rs.5 /- each |
Rs.18988.000
Millions |
Note:
·
49,999,000 and 1,516,390,970 equity shares of Rs.10
each issued as fully paid-up bonus shares on February 24, 1997 and September
30, 2001 respectively out of Share Premium account.
·
21,474,527 Equity Shares of Rs.10 each are allotted
as fully paid-up upon the conversion of Foreign Currency Convertible Bonds
(FCCBs).
·
2,722,125 Equity Shares of Rs.10 each are allotted
as fully paid-up under the Scheme of amalgamation without payments being
received in cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
18988.000 |
18987.650 |
18982.398 |
|
|
2] Share Application Money |
0.000 |
0.000 |
2.933 |
|
|
3] Reserves & Surplus |
419342.000 |
346523.215 |
256295.074 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
438330.000 |
365510.865 |
275280.405 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
171.000 |
394.296 |
517.304 |
|
|
2] Unsecured Loans |
118804.000 |
49994.936 |
76619.167 |
|
|
TOTAL BORROWING |
118975.000 |
50389.232 |
77136.471 |
|
|
DEFERRED TAX LIABILITIES |
5276.000 |
32.543 |
0.000 |
|
|
EMPLOYEE STOCK OPTIONS OUTSTANDING |
2786.000 |
1860.902 |
1159.239 |
|
|
|
|
|
|
|
|
TOTAL |
565367.000 |
417793.542 |
353576.115 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
407008.000 |
280249.640 |
250133.585 |
|
|
Capital work-in-progress |
64976.000 |
15947.360 |
25666.693 |
|
|
|
|
|
|
|
|
INVESTMENT |
118130.000 |
157733.191 |
117777.582 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
3271.103 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
344.000
|
272.443
|
621.510 |
|
|
Sundry Debtors |
23758.000
|
21049.770
|
25500.488 |
|
|
Cash & Bank Balances |
1338.000
|
8167.415
|
22516.027 |
|
|
Other Current Assets |
1015.000
|
663.743
|
1197.127 |
|
|
Loans & Advances |
103037.000
|
62097.457
|
44414.947 |
|
Total
Current Assets |
129492.000
|
92250.828
|
94250.099 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
111888.000
|
86471.055
|
91552.896 |
|
|
Other Current Liabilities |
36075.000 |
35328.878 |
39626.920 |
|
|
Provisions |
6276.000 |
6587.544 |
6344.004 |
|
Total
Current Liabilities |
154239.000
|
128387.477
|
137523.820 |
|
|
Net Current Assets |
(24747.000)
|
(36136.649)
|
(43273.721) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.873 |
|
|
|
|
|
|
|
|
TOTAL |
565367.000 |
417793.542 |
353576.115 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
380158.000 |
356095.407 |
340142.902 |
|
|
|
Other Income |
1129.000 |
897.295 |
1407.368 |
|
|
|
TOTAL (A) |
381287.000 |
356992.702 |
341550.270 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Access Charges
|
49872.000
|
44356.838
|
52034.149
|
|
|
|
Network Operating
|
85712.000
|
74467.226
|
63268.921
|
|
|
|
Cost of Goods Sold
|
161.000
|
203.225
|
124.051
|
|
|
|
Personnel
|
14512.000 |
14371.323
|
14336.407
|
|
|
|
Sales and Marketing
|
31802.000
|
24049.062
|
21763.991
|
|
|
|
Administrative and Other expenditure
|
21353.000
|
22401.476
|
20875.328
|
|
|
|
Licence fee and spectrum charges
(revenue share)
|
42903.000
|
37548.702
|
35821.761
|
|
|
|
Charity and donation paid to
satya electoral trust for political purposes
|
290.000
|
179.626
|
219.463
|
|
|
|
TOTAL (B) |
246605.000 |
217577.478 |
208444.071 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
134682.000 |
139415.224 |
133106.199 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1308.000 |
(8556.474) |
17639.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
133374.000 |
147971.698 |
115466.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
46116.000 |
40979.212 |
33850.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
87258.000 |
106992.486 |
81615.367 |
|
|
|
|
|
|
|
|
|
Less |
MAT CREDIT |
(12469.000) |
(10385.866) |
(1396.304) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
22558.000 |
23116.805 |
5573.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
77169.000 |
94261.547 |
77438.385 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Capital Goods |
19105.000 |
15472.000 |
NA |
|
|
|
Total |
19105.000 |
15472.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
20.32 |
24.83 |
20.40 |
|
|
|
- Diluted |
20.32 |
24.82 |
20.39 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st
Quarter |
30.09.2011 2nd Quarter |
31.12.2011 3rd Quarter |
31.03.2012 4th Quarter |
|
Type |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
101800.000 |
101645.000 |
105006.000 |
107572.000 |
|
Total Expenditure |
69852.000 |
68437.000 |
71786.000 |
72477.000 |
|
PBIDT (Excl OI) |
31948.000 |
33208.000 |
33220.000 |
35095.000 |
|
Other Income |
190.000 |
130.000 |
224.000 |
1863.000 |
|
Operating Profit |
32138.000 |
33338.000 |
33444.000 |
36958.000 |
|
Interest |
2033.000 |
5946.000 |
4055.000 |
3102.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
30105.000 |
27392.000 |
29389.000 |
33856.000 |
|
Depreciation |
11707.000 |
11560.000 |
12560.000 |
15352.000 |
|
Profit Before Tax |
18398.000 |
15832.000 |
16829.000 |
18504.000 |
|
Tax |
4075.000 |
2757.000 |
2669.000 |
2761.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
14323.000 |
13075.000 |
14160.000 |
15743.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
14323.000 |
13075.000 |
14160.000 |
15743.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
20.24 |
26.40 |
22.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.95 |
30.05 |
23.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.26 |
28.72 |
23.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.29 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.62 |
0.49 |
0.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84 |
0.72 |
0.69 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
Yes |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
No |
LITIGATION DETAILS
IN THE HIGH COURT
OF DELHI AT NEW DELHI
BAIL APPLN.
739/2012
ARJUN RANA .....
Petitioner
Through: Mr. H.S.
Dahiya, Advocate.
versus
STATE .....
Respondent
Through: Mr. M.N.
Dudeja, APP.
CORAM:
HON'BLE MR.
JUSTICE M.L. MEHTA
O R D E R
25.05.2012
This is an application
for grant of anticipatory bail in FIR No. 477/2012 P.S. Saraswati Vihar U/s
420/467/471/474/34 IPC.
The petitioner along with other co-accused persons is arrayed as an
accused in this case. He had entered into a collaboration agreement with the
complainant on 7.1.2011 in respect of property bearing No. WZ-554, Measuring
177 sq. yards, situated at Sri Nagar of village shakurpur, Delhi-34. By virtue
of this, he was to get second floor with roof rights up to the sky and the rest
of the property built up comprising of ground, upper ground and first floor
were to be owned by the complainant. The entire project was to be completed by
the petitioner within one year. Both the parties were entitled to use common
parking. The allegations against the petitioner is that immediately one week
thereafter i.e. on 14.1.2011 he had entered into an agreement with Jitender
Kumar Goel whereby not only he had sold his rights in the second floor, but had
also agreed to sell the third floor with roof rights with common passages as
also 50% of the land . Further he had also divested him of the entire liability
of the construction of the entire premises as agreed with the complainant. The
matter did not end here, he proceeded even to execute sale deed on 17.3.2011 in
favour of Jitender Kumar Goel in respect of the
second floor as also one half share in the land of the plot. The
execution of the agreement in respect of the second and third floor as also the
sale deed of one half of share in the land by the petitioner to Jitender Kumar
Goel was apparently not inconsonance with the collaboration agreement of
7.1.2011. The petitioner seems to have executed these documents on receipt of
considerable amount from Jitender Kumar Goel which clearly demonstrates his
having made unlawful gains by committing the forgery and cheating the
complainant and also Mr. Jitender Kumar Goel.
Having regard to the nature of the offence and the fact that these kind
of offences are being oftenly committed by the builders, the petitioner is not
entitled to be released on anticipatory bail. The application is dismissed.
M.L. MEHTA, J
MAY 25, 2012/pkv
OVERVIEW
Subject is one of
the world’s providers of telecommunication services with presence in 19
countries including
to telecom
operations under its subsidiary Bharti Infratel Limited. Bharti Infratel owns
42% of Indus Towers Limited. Bharti Infratel and
MAJOR AGREEMENTS
AND ALLIANCES
During the year,
the Company signed the following major agreements relating to operations,
customer service, innovation and technology:
·
With Ericsson,
Nokia Siemens Networks and Huawei
for the launch of 3G services in
·
With Ericsson
and Huawei to deploy
state-of-the-art network infrastructure in
·
With State
Bank of India (SBI), a Joint Venture (JV) agreement to usher in the new
era of financial inclusion for the unbanked in
·
With Nokia to
launch ‘Ovi Life Tools’ service
targeted at providing Airtel's mobile customers with access to relevant content
on agriculture, education and entertainment.
·
With Radio
Mirchi, to launch ‘Mirchi
Mobile’ on airtel, enabling its customers to choose and follow their
favourite local Mirchi radio station from anywhere in
·
With Encyclopedia
Britannica to offer airtel broadband customers two year free access to ‘Britannica
online’, the world’s most trusted information source.
·
With Novatium
to help expand the broadband market by launching ‘Net PC Plus’ on airtel broadband for
customers in Chennai.
·
With Savvis
to offer managed IT and cloud services in the high growth Indian IT
market. The collaboration aims to launch innovative managed services to
enterprises operating in or expanding into
·
With China
Telecom to launch direct underground terrestrial link between
·
With VMware,
to launch virtualisation services based on VMware vSphere platform, extending
the Managed Service portfolio.
·
With Servion
and Cisco for launch of
·
With consortium of telecom operators for launch of IMEWE submarine cable system stretching
from India to Western Europe via Middle East; EASSy Cable system, the largest submarine cable system serving the
African continent and EIG offering
connectivity to the Middle East, Africa and Europe with enhanced capacity,
redundancy and network resilience.
·
With IBM for
transformation and management of the comprehensive IT infrastructure and
applications in all the 16
·
countries of operations in
·
With Ericsson,
NSN Siemens and Huawei for network management of 2G and 3G network in all the 16 countries of
operations in
·
With IBM,
Tech Mahindra and Spanco for world-class customer service across all 16
countries in
NEW PRODUCTS/
INITIATIVES
During the year,
the Company launched various new and innovative products and services, directly
and through its subsidiaries, which enabled it to strengthen its leadership in
an intensely competitive market. Some of the key launches of the year included:
3G Services in
9 of 13 circles with 3G spectrum, empowering all 3G customers to manage their
data usage and avoid ‘bill shock’ with proactive, personalised and timely data
usage alerts coupled with introduction of easy-to-understand intuitive tariffs
with personalised data usage limits.
airtel money -
airtel call
manager, a service that enables a customer to keep his/her callers informed
(when he is in a meeting or driving and is not able to take calls) by choosing
the meeting or the driving profiles.
airtel voice blog, world’s first
voice blogging service, enabling customers to share recorded voice updates with
their followers – fans, friends or family.
airtel world SIM for
international travellers enabling outbound travellers to retain their local
number while roaming
internationally at
a fraction of the cost, allowing customers to save upto 85 percent on
international calls.
Live Aarti on
mobile, India’s first service on mobile offering daily live Pujas and Aartis directly
from the shrines including Tirupati Balaji, Siddhivinayak, Shri Sai Baba from
Shirdi and Bangla Sahib.
LearnNext an e-Learning
website for the Company’s broadband users. It is a complete computer based
interactive CBSE study module, for students studying in Class VI to X.
IPTV services in
airtel broadband
TV, allows the broadband customers to watch
live TV on their computers or laptops without having to buy an extra TV set or
cable connection/set top box or an air antenna by simply subscribing to airtel
broadband TV.
Unified Service
Management Centre (uSMC), to enhance the quality of customer experience and provide best
in class services to the customers.
Global Data
Services in
airtel digital TV
recorder, an enhanced Set
Top Box (STB) with capability to record live television, anytime, anywhere
using mobile phone. After pioneering the initiative of recording television
programmes through mobile, the recording
facility was extended through internet for airtel digital TV recorder
customers.
India’s first High
Definition (HD) box with
Dolby digital plus offering 7.1 channels of surround sound for airtel digital
TV customers.
MAMO (My Airtel My
Offer) is
i-Care was
deployed across all countries of operation – the objective of the programmes is
to bring about a cultural transformation across the Company by putting the
customer as the first priority and taking personal ownership to resume customer
issues.
OTHER COMPANY
DEVELOPMENTS
·
The Company became a global telecom operator by
completing acquisition of Zain Group’s
(“Zain”) mobile operations in 15 countries across Africa in June 2010
and Telecom Seychelles Limited,
a leading telecom operator in
·
The Company launched its New Vision for India and
South Asia ‘By 2015, airtel will be the
most loved brand, enriching the lives of millions’ inspiring and
directing all stakeholders for the next stage of growth.
·
The Company also launched its vision for
AWARDS AND
RECOGNITIONS
·
The Company was conferred with many awards and
recognitions during the year. Some of them are listed below:
·
At the GSMA in
·
Five awards at the Telecom Operator Awards 2011
constituted by tele.net, including ‘Most
Admired Telecom Operator’, ‘Best National Mobile Operator’, ‘Best VAS
Provider’, ‘Best Enterprise Services Provider’ and ‘Operator with Best Rural Performance’.
·
ET Telecom Awards 2011 in categories of ‘Customer experience Enhancement’ and ‘Innovative VAS Product’.
·
‘Most Preferred Cellular
Service Provider Brand’ award in the CNBC Awaaz Consumer Awards 2010 for
the 6th year in a row.
·
‘Top Telecom Company’ 4th year in a row
by NDTV Profit Business Leadership Awards 2010.
·
‘CIO 100 Award’ instituted by CIO
magazine for innovative practices at the Annual CIO 100 Awards.
·
Four awards at the Annual Voice and Data Telecom
Awards 2010 - 'Top Cellular Service
Provider', 'Top Telecom Service Provider' and 'Top NLD and VSAT Service
Provider'.
·
‘
·
Ranked amongst the top five firms in Corporate
Reputation in
·
Rated as one of the top 5 best employers in the Aon Hewitt Best Employers in India 2011
study.
·
Ranked amongst the top 10 companies in ‘the Best Companies to Work For’ survey by
Business Today in 2011.
·
‘Small Business
Technology Partner of the Year award’ at the Franchise India’s Small Business
Congress 2010.
·
airtel digital TV was voted the favorite DTH service by customers in
key metros in a nationwide customer satisfaction survey by MaRS on
MANAGEMENT
DISCUSSION AND ANALYSIS
ECONOMIC OVERVIEW
The global economy
is on a clear track of revival with a continued dual speed recovery. As per the
International Monetary Fund (IMF), the world economy grew by 5% in 2010, led by
7.1% growth of emerging economies and a 3% growth of advanced economies. After
a year of debt crises in Europe and mixed news about the quality of the
With the maturing
of emerging nations, financial power and consumption is increasingly shifting
from West to East – from aging
industrial nations to emerging industrial powers in Asia, South America and
INDIAN TELECOM
SECTOR
Financial year
2011 saw the continuance of strong customer growth for the Indian telecom
market, which witnessed a 36% increase in its customer base during the 12-month
period. The total telecom customer base in
While wireline
customers decreased by 6%, the growth of the telecom sector was fuelled by the
wireless segment. The wireless segment crossed the 800 Mn customer mark with
812 Mn customers as at end of March 31, 2011. The wireless segment grew by 39%
during the year, contributing nearly 96% of the total telecom customer base.
The telecom rural penetration at 33.8% at end of March 31, 2011 offers huge
growth potential in terms of both customers and usage.
Growth in
broadband services has been very low with 12 Mn broadband customers
representing a broadband penetration of just 1% however the potential for
growth is high. The impending rollout of the wireless broadband using TDD LTE
technology coupled with the mobile platform leveraging 3G is likely to provide
an impetus to broadband penetration.
With the advent of
3G services in
Given the huge
growth potential offered by the telecom industry through increased coverage and
newer products and services, the competition will remain intense with both
existing and new players attempting to maximize their share of the growing telecom
market.
AFRICAN TELECOM
SECTOR
Year 2011
continued to experience growth in African telecom market. The total customer
base grew 17% over the 12-month period. The total telecom customer base stood
at 205 Mn as at end of March 2011.
Though a few countries
have very high penetration, due to higher GDP per capita and relatively smaller
population or multi – sim environment, penetration in outer markets where the
Company operates is still low. Of 16 African countries where Airtel operates,
only 7 countries (Congo B,
and
The competitive
intensity in each of the sixteen countries varies from 2 to 10 players. There
have been no major competition launches during the year.
REVIEW OF
OPERATIONS
Subject put up a
strong performance in the financial year 2010-11. The Company entered the
league of global telcos by completing the acquisition of Zain Group’s (“Zain”)
mobile operations in 15 countries across
As on March 31,
2011, the Company had an aggregate of 220.9 Mn customers consisting of 211.9 Mn
Mobile, 3.3 Mn Telemedia and 5.7 Mn Digital TV customers. Its total customer
base as on March 31, 2011 increased by 61% compared to the customer base as on
March 31, 2010.
The Company
reported a net income of Rs.60467 Millions for the full year ended March 31,
2011, with a Y-o-Y decline of 33% due to increase in net finance charges
(excluding forex restatement losses) (Rs.14802 Millions), Forex restatement
losses (Rs.6833 Millions), re-branding expenses (Rs.3395 Millions) and increase
in spectrum charges in India (Rs.2650 Millions).
SEGMENT-WISE
PERFORMANCE
Mobile Services (
The Company offers
mobile services using GSM technology in South East Asia across
During the
financial year gone by, the Company had acquired 3G licenses in 13 telecom
services areas of the total 22 service areas (Delhi, Mumbai, Tamil Nadu, Karnataka, Andhra Pradesh, UP (West),
Rajasthan, West Bengal, Himachal Pradesh, Bihar, Assam, North East and Jammu
and Kashmir) and BWA licenses in 4 telecom service areas (Maharashtra, Kolkata, Punjab, Karnataka) in
India at a total cost of Rs.156.1 Bn (USD 3.3 Bn). The Company has recently
launched 3G services in key cities of the country offering host of innovative
services like Mobile TV entertainment, video calls, live streaming of videos,
high definition gaming along with access to high speed internet.
Airtel Sri Lanka
expanded its presence to all the 25 administrative districts of
Airtel
The Company
registered a year on year growth of 9% in revenues despite growing competition
from new entrants and declining realised rates per minute.
Mobile Services (
The Company offers
mobile services using GSM technology in
African operations
are witnessing growth momentum over the past few quarters. The growth is fueled
by the new brand identity and the Company’s commitment to the network
expansion.
Telemedia Services
The Company
provides broadband (DSL), data and telephone services (fixed line) in 87 cities
with concerted focus on the various data solutions for the Small and Medium
Business (SMB) segment.
It had 3.3 Mn
customers as at March 31, 2011 of which 43.1% subscribed to its
broadband/internet services.
The product
offerings in this segment include fixed-line telephones providing local, national
and international long distance voice connectivity, broadband internet access
through DSL; internet leased lines as well as MPLS (Multiprotocol Label
Switching Solutions).
The Company
remains strongly committed to its focus on the SMB segment by providing a range
of telecom and software solutions and aim to achieve revenue leadership in this
rapidly growing segment of the ICT (Information and Communications Technology)
market. The strategy of the telemedia services business unit is to focus on
cities and commercial pockets with high revenue potential.
The revenue growth
of 6% year on year in telemedia services is mainly attributable to strong
off-take of data services. Telemedia services ended the fi nancial year with
data revenues contributing over 50% of the total telemedia revenues in the last
quarter of FY 2010-11.
Enterprise
services owns a state of the art national and international long distance
network infrastructure, enabling it to provide connectivity services both
within India and connecting India to the world.
The international
infrastructure includes ownership of the i2i submarine cable system connecting
Chennai to Singapore, consortium ownership of the SMW4 submarine cable system
connecting Chennai and Mumbai to Singapore and Europe, and investments in new
cable systems such as Asia America Gateway (AAG), India Middle East and Western
Europe (IMEWE), Unity North, EIG (Europe India Gateway) and East Africa
Submarine System (EASSy) expanding the Company’s global network to over 225,000
Rkms, covering 50 countries across 5 continents. Revenues from enterprise
services for the financial year ended March 31, 2011 were Rs.41292 Mn and
represented a year on year decline of 8%.
While the Indian economy
has been relatively insulated from the global economic slowdown, large
corporates did however exercised caution in IT and Telecom spends which had its
impact in FY11. Additionally, this segment witnessed the entry of some of the
established mobile players in this segment resulting in increased competition
and aggressive pricing.
All this had
attributed to the decline in revenues in FY11. With clear signs of revival
world wide and the Company’s growing focus of being global network solution
provider, the segment is well placed to be back on the growth trajectory.
Digital TV
Services
Airtel Digital TV
breached the coveted 5 Mn customer mark in FY11, in just 21 months of its
national operations, fastest ever by any operator. The Company added 3.1 Mn digital
TV customers during FY 2010-11 taking its total customer base to 5.7 Mn
customers as at end of March 31, 2011. The Company added every 4th new customer
joining the Direct-To-Home (DTH) platform despite stiff competition and
aggressive pricing. Airtel is the first company in
Passive
Infrastructure Services
Bharti Infratel
Limited, a subsidiary of Bharti Airtel, provides passive infrastructure
services on a non-discriminatory basis to all telecom operators in
Bharti Infratel
deploys, owns and manages telecom towers and communications structures in 11
circles of
Bharti Infratel
had 32,792 towers in 11 circles as at end of March 31, 2011, excluding the
35,254 towers in 11 circles for which the right of use has been assigned to
OUTLOOK
As a market leader
in the Indian Telecom space, Subject’s outlook is promising and is in line with
future growth potential of the sector. Emerging markets of
Rated as a pioneer
in bringing life enriching telecom products and services for the customers,
airtel will continue its journey with Commerce and Entertainment verticals. 3G
and BWA licenses will further usher a new era of content rich applications and
services for the customers. With stronger emphasis on Data business across
domestic and international markets, the Company believes data will be a key
driver of overall growth.
With its business
offerings across the entire telecom spectrum to retail and institutional
customers and geographic spread spanning most of the urban and rural
As regard the
FIXED ASSETS
·
·
·
Building
·
Leasehold Improvements
·
Plant and Machinery
·
Computers
·
Office Equipment
·
Furniture and Fixture
·
Vehicles
AUDITED FINANCIAL
RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED MARCH 31, 2012
(Rs. in Millions)
|
Particulars |
Quarter Ended As on 31.03.2012 |
Quarter Ended As on 31.03.2011 |
Year Ended As on 31.03.2012 |
|
|
Audited |
Audited |
Audited |
|
1. Income from operations |
107572.000 |
105011.000 |
416038.000 |
|
2. Expenses |
|
|
|
|
a. Access charges |
15366.000 |
14989.000 |
58086.000 |
|
b. Employee benefits expenses |
3365.000 |
3064.000 |
13915.000 |
|
c. Cost of goods sold |
19.000 |
29.000 |
183.000 |
|
d. Power and Fuel |
7528.000 |
7382.000 |
29727.000 |
|
e. Rent |
12256.000 |
11944.000 |
47714.000 |
|
f. License fee and spectrum charges
(revenue share) |
12226.000 |
11920.000 |
46942.000 |
|
g. Depreciation and amortisation
expense |
15352.000 |
15287.000 |
59160.000 |
|
h. Other operating expenses |
21717.000 |
22316.000 |
83034.000 |
|
Total Expenses |
87829.000 |
86931.000 |
338761.000 |
|
3. Profit from operations before Other Income, Net Finance Charges,
Exceptional Items and Tax (1-2) |
19743.000 |
18080.000 |
77277.000 |
|
4. Other income |
1863.000 |
1109.000 |
6247.000 |
|
5. Profit from ordinary activities before finance costs and exceptional
items (3+4) |
21606.000 |
19189.000 |
83524.000 |
|
6. Finance Costs |
3102.000 |
2360.000 |
13962.000 |
|
7. Profit from ordinary activities after finance costs but before
exceptional items |
18504.000 |
16829.000 |
69562.000 |
|
8. Exceptional items |
- |
- |
- |
|
9. Profit / ( loss ) from Ordinary Activities
before tax |
18504.000 |
16829.000 |
69562.000 |
|
10. Tax Expense |
2761.000 |
2669.000 |
12262.000 |
|
11. Net profit / ( loss ) from ordinary
activities after tax |
15743.000 |
14160.000 |
57300.000 |
|
12. Extraordinary Items (Net of tax
expenses) |
- |
- |
- |
|
13. Net Profit/ (Loss) for the period |
15743.000 |
14160.000 |
57300.000 |
|
14. Paid up Equity share capital ( Face
Value Rs.5 / each ) |
18988.000 |
18988.000 |
18988.000 |
|
15. Reserve excluding Revaluation Reserves
including employee stock option outstanding
|
427287.000 |
463859.000 |
475287.000 |
|
16. Earnings Per Share (EPS) |
|
|
|
|
a) Basic & Diluted EPS before
Extraordinary items |
|
|
|
|
i) Basic |
4.146 |
3.729 |
15.089 |
|
ii) Diluted |
4.146 |
3.729 |
15.089 |
|
|
|
|
|
|
b) Basic & Diluted EPS after Extraordinary
items |
|
|
|
|
i) Basic |
4.146 |
3.729 |
15.089 |
|
ii) Diluted |
4.146 |
3.729 |
15.089 |
|
|
|
|
|
|
17. Public Shareholding |
|
|
|
|
- No. of shares |
1196402920 |
1196402920 |
1196402920 |
|
- Percentage of shareholding |
31.50% |
31.50% |
31.50% |
|
|
|
|
|
|
18. Promoters and promoter group |
|
|
|
|
Shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- Number of shares |
Nil |
Nil |
Nil |
|
- Percentage of shares (as a % of the total
shareholding of promoter & promoter group) |
Nil |
Nil |
Nil |
|
- Percentage of shares (as a % of the total
share capital of the company |
Nil |
Nil |
Nil |
|
|
|
|
|
|
b) Non-encumbered |
|
|
|
|
- Number of shares |
2601127176 |
2601127176 |
2601127176 |
|
- Percentage of shares (as a % of the total
shareholding of promoter & promoter group) |
100% |
100% |
100% |
|
- Percentage of shares (as a % of the total
share capital of the company |
68.50% |
68.50% |
68.50% |
AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED ON MARCH 31, 2012
(Rs. in Millions)
|
Particulars |
Quarter Ended As on 31.03.2012 |
Quarter Ended As on 31.03.2011 |
Year Ended As on 31.03.2012 |
|
|
Audited |
Audited |
Audited |
|
1. SEGMENT REVENUE : |
|
|
|
|
Net Sales/income from each segment |
|
|
|
|
a) Mobile Services |
95575.000 |
92510.000 |
367155.000 |
|
b) Telemedia Services |
9063.000 |
9031.000 |
36867.000 |
|
c) Airtel Business @ |
10240.000 |
10667.000 |
40.763.000 |
|
d) Unallocated $ |
- |
- |
- |
|
Total |
114878.000 |
112208.000 |
444785.000 |
|
Less: Inter segment Eliminations |
7306.000 |
7197.000 |
28747.000 |
|
Net Sales / Income |
107572.000 |
105011.000 |
416038.000 |
|
|
|
|
|
|
2. SEGMENT RESULTS (Profit before tax, interest and exceptional item
from each segment) |
|
|
|
|
a) Mobile Services |
21168.000 |
18858.000 |
77968.000 |
|
b) Telemedia Services |
1571.000 |
1182.000 |
6983.000 |
|
c) Airtel Business @ |
67.000 |
(676.000) |
(840.000) |
|
d) Unallocated #$ |
(2162.000) |
(1065.000) |
(3512.000) |
|
Total |
20644.000 |
18299.000 |
80599.000 |
|
Less: Inter Segment Eliminations |
- |
- |
- |
|
Total Profit/(loss) before tax and Net Finance
Charges |
20644.000 |
18299.000 |
80599.000 |
|
Less: Net Finance Charges |
2140.000 |
1470.000 |
11037.000 |
|
Total profit before tax |
18504.000 |
16829.000 |
69562.000 |
|
3. Capital Employed (Segment Assets - Segment Liabilities)* |
|
|
|
|
a) Mobile Services |
267644.000 |
262839.000 |
267644.000 |
|
b) Telemedia Services |
79110.000 |
79200.000 |
79110.000 |
|
c) Airtel Business @ |
22413.000 |
20155.000 |
22413.000 |
|
d) Unallocated **$ |
103898.000 |
102026.000 |
103898.000 |
|
Total |
473065.000 |
464220.000 |
473065.000 |
Notes:
*Excludes inter
segment assets and liabilities
** Includes
borrowings for 3G and BWA licenses of Rs 61117.000 Millions, Rs 61606.000 Millions
and Rs 63765.000 Millions, as at March 31, 2012, December 31, 2011 and March
31, 2011, respectively.
# includes foreign exchange fluctuations in respect of loans given to subsidiaries.
$ Earlier reported as ‘Others’
@ Previously known as Enterprise Service
Notes of Account:
1. Notes to the consolidated financial statements form part of the notes to the standalone financial results.
2. Pursuant to the Notification No. 447(E) dated February 28, 2011 and Notification No. 653(E) dated March 30, 2011, issued by the Ministry of Corporate Affairs, the Company has started preparing its financial statements as per revised Schedule VI to the Companies Act, 1956 w.e.f. April 1, 2011. Accordingly, the previous periods' / year's figures have also been regrouped/ rearranged, wherever required to align the financial statements to the revised format.
3. Reserves and surplus as at March 31, 2012 include Rs 2931.000 millions for the Company, towards employee stock option outstanding account (net of the related deferred cost) of the Company.
4. Subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company, the Board of Directors has recommended a final dividend of Rupee 1.00 per equity share of Rupee. 5/- each for the financial year 2011 -12.
STATEMENT OF ASSETS
AND LIABILITIES AS AT 31ST MARCH, 2012
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
|
A. EQUITY AND LIABILITIES |
|
|
1) Shareholders' Funds |
|
|
(a) Share Capital |
18988.000 |
|
(b) Reserves and Surplus |
475308.000 |
|
Sub-total
Shareholder’s fund |
494296.000 |
|
|
|
|
2. Non-Current Liabilities |
|
|
(a) Long-Term Borrowings |
82338.000 |
|
(b) Deferred Tax Liabilities |
8367.000 |
|
(c) Other Long Term Liabilities |
25184.000 |
|
(d) Long-Term Provisions |
1405.000 |
|
Sub-total Non-current liabilities |
117294.000 |
|
|
|
|
3. Current Liabilities |
|
|
(a) Short-term borrowings |
58956.000 |
|
(b) Trade payables |
45121.000 |
|
(c) Other current liabilities |
82000.000 |
|
(d) Short-term provisions |
5570.000 |
|
Sub-total Current liabilities |
191647.000 |
|
|
|
|
Total
Equity and Liabilities |
803237.000 |
|
|
|
|
B ASSETS |
|
|
1. Non-Current Assets |
|
|
(a) Fixed Assets |
449073.000 |
|
(b) Non-Current Investments |
118041.000 |
|
(c) Long-term Loans and Advances |
84817.000 |
|
(d) Other Non-Current Assets |
10870.000 |
|
Sub-total Non-current assets |
662801.000 |
|
|
|
|
2. Current Assets |
|
|
(a)Current investment |
5337.000 |
|
(b) Inventories |
321.000 |
|
(c) Trade Receivables |
21345.000 |
|
(d) Cash and Bank balances |
4812.000 |
|
(e) Short-term loans and advances |
98101.000 |
|
(f) Other current assets |
10520.000 |
|
Sub-total Current assets |
140436.000 |
|
|
|
|
Total
Assets |
803237.000 |
BUSINESS
DESCRIPTION
Subject is a telecommunication service provider in
BOARD OF DIRECTORS
Mr. Sunil Bharti
Mittal
Executive Chairman of the Board, Managing Director
Mr. Sunil Bharti Mittal is Executive Chairman and Managing Director of
subject is the Founder, Subject. He Chairman and CEO of Bharti Enterprises.
Sunil has been awarded the Padma Bhushan, one of
Mr. Nikesh Arora
Independent Non-Executive Director
Mr. Nikesh Arora was Independent Non-Executive Director and a member of
the HR Committee and ESOP Compensation Committee subject. Mr. Nikesh oversees
all revenue and customer operations as well as marketing and partnerships at
Google. Since joining in 2004, he has held several positions with the Company.
Most recently, he led Google's global direct sales operations. He also
developed and managed the Company's operations in the European, Middle Eastern
and African markets and was responsible for creating and expanding strategic
partnerships in those regions. Prior to joining Google, he held senior and
management positions in T-Mobile and Deutsche Telekom. Mr. Nikesh holds a
master's degree with distinction from
Education
MBA , Northeastern University
M,
BS Electrical Engineering,
Ms. Sock Koong Chua
Non-Executive Director - Representative of Singtel
Ms. Chua Sock Koong is Non-Executive Director of subject since May 2001
nominated by Singtel. Ms. Sock Koong joined SingTel in June 1989 as Treasurer
and was promoted to Chief Financial Officer in April 1999. She held the
positions of Group CFO and CEO International from February 2006 until October
12, 2006, when she was appointed Deputy Group CEO. She was appointed as SingTel
Group CEO in April 2007. Sock Koong holds a 1st Class Honours Degree in
Accountancy from the
Education
B,
Mr. Craig E.
Ehrlich
Independent
Non-Executive Director
Mr. Craig Ehrlich was Independent Non-Executive Director of subject,
since April 29, 2009. He is the Chairman of the Board HR Committee and a member
of the Board ESOP Compensation Committee. Craig is the former long time
Chairman of the GSMA, the global trade association representing second and
third generation network operators, manufacturers and suppliers. He has served
as a board member of Hutchison Telecoms Group Holdings Limited since 2003 and
now advises the group’s 3G and 2G businesses worldwide. Mr. Craig is a board
member of Eastern Telecom and Philweb in
Education
M , Occidental College
BA ,
Mr. Akhil Gupta
Deputy Group CEO, Managing Director of Bharti Enterprises, Non-Executive
Director
Mr. Akhil Gupta Non Executive Director of subject. Mr. Gupta is the
Deputy Group CEO and Managing Director of Bharti Enterprises and a
non-executive director of subject. He has been closely associated with
strategy, finance, mergers and acquisitions and business performance for the
group. He has spearheaded the transformational initiatives including the
outsourcing deals in the areas of IT, network management and customer service
management. He is the Managing Director of subject and a director of
Education
Mr. Manoj
Kohli
Joint Managing Director, Chief Executive Officer - International, Executive Director
Mr. Manoj Kohli is Joint Managing Director, Chief Executive Officer -
International, Executive Director of subject effective April 1, 2010. He is
heading the newly formed International Business Group. Prior to joining
subject, he worked with the Shriram Group (where he started his career in
1979), Allied Signal/Honeywell and Escotel in senior leadership positions.
Manoj was the Chairman - Confederation of Indian Industry (CII) National
Committee on Telecom and Broadband. He was a member of the Board of GSM
Association (GSMA) in 2008. He was the Chairman of the Cellular Operators
Association of India (2001-02). Manoj is a member of the Academic Council of
the Faculty of Management Studies (FMS) and Shri Ram College of Commerce,
Education
MBA ,
B ,
Law,
Mr. N.
Kumar
Independent Non-Executive Director
Shri. N. Kumar is Independent Non-Executive Director of subject and
member of the Audit Committee since 2001. A well-known industrialist, Kumar is
the Vice-Chairman of the Sanmar Group with interests in chemicals, engineering
and shipping. Mr. Kumar is an active spokesperson of industry and trade and was
the president of Confederation of Indian Industry (CII), a industrial body. He
participates in various other apex bodies and is also on the Board of various
public companies. He is the Honorary Consul General of Greece in Chennai. Mr.
Kumar is an Electronics and Communication Engineer from
Education
BE Electronics and Communications Engineering,
Mr. Ajay
Lal
Independent Non-Executive Director
Mr. Ajay Lal is Independent Non-Executive Director of subject. He is a
Senior Partner and Managing Director of AIF Capital and has over 20 years
experience in private equity, project finance and corporate banking. Prior to
joining AIF Capital in 1997, Ajay worked with AIG Investment Corporation and
Bank of America respectively. Mr. Ajay has represented AIF Capital on the
boards of a number of large corporations across
Education
MBA , Indian Institute of Management,
Indian
Mr. Rakesh
Bharti Mittal
Vice-Chairman, Managing Director of Bharti Enterprises, Non-Executive Director
Mr. Rakesh Bharti Mittal is Vice-Chairman, Managing Director
of Bharti Enterprises, Non-Executive Director of subject. He is a non-executive
director and a member of the Board Audit Committee of Bharti Airtel. He is the
Chairman of Bharti AXA Life Insurance, Bharti AXA General Insurance, FieldFresh
Foods, Comviva Technologies, Centum Learning and Beetel Teletech. Mr. Rakesh is
the Chairman of Confederation of Indian Industry (CII)'s National Council for
Agriculture. He is a member of the Agricultural and Processed Food Products
Export Development Authority (APEDA). Rakesh is a member of the Executive Board
of the Indian School of Business (ISB) and the Co-chairman of Bharti School of
Telecommunication Technology and Management. He is also on the Advisory Board
of the Indian Institute of Technology (IIT) and Southern Methodist University
(SMU),
Mr. Rajan Bharti
Mittal
Vice Chairman, Managing Director of Bharti Enterprises, Non-Executive
Director
Mr. Rajan Bharti Mittal is Vice Chairman, Managing Director of Bharti
Enterprises, Non-Executive Director of subject. He is a non-executive director,
Chairman of the Board ESOP Compensation Committee and a member of the Board HR
Committee of subject. He is a graduate from
Education
Mr. Pulak Chandan
Prasad
Independent Non-Executive Director
Mr. Pulak Chandan Prasad is Independent Non-Executive Director of
subject and a member of the Board Audit Committee. He initially joined the
Board as a nominee of Warburg Pincus in November 2001. He is the Founder and
Managing Director of Nalanda Capital, a
Education
B Technology, Indian Institute of Technology,
Ms. Tan Yong Choo
Non-Executive Director - Representative of SingTel
Ms. Tan Yong Choo is Non-Executive Director - Representative of SingTel
for subject since January 2010. She is also a member of the Board Audit
Committee. She has a wide range of working experience gained from her stints in
international accounting firms as well as in multinational corporations. She
began her career with SingTel in November 1994 and was appointed to her current
role as Group Financial Controller in June 2007, with responsibilities for the
Group’s financial functions including reporting, planning and forecasting. She
also provides high level financial advice that would affect operations and is
primarily responsible for financial policies and procedures. Prior to joining
SingTel, Yong Choo worked for several years in international accounting firms,
Coopers and Lybrand and Arthur Anderson. Ms. Yong Choo holds a Second Class
Honours Degree in Accountancy from the National University of Singapore and is
a Certified Public Accountant.
Education
Mr. Sanjay Kapoor
Deputy Chief Executive Officer
Mr. Sanjay Kapoor has been appointed as Chief Executive Officer -
Education
MBA ,
B Commerce,
PRESS RELEASE
Bharti
Airtel launches Cloud Enablement Platform powered by HP
Chooses HP Aggregation Platform to offer
SaaS and IaaS services to businesses of all sizes • Will allow customers to optimize
the IT costs and add organizational agility by responding to capacity
up-gradation on-demand • Multiple SaaS applications to be rolled out on the
platform in near future on a pay-as-you-go model New Delhi, India, July 3, 2012
– Bharti Airtel, a leading global telecommunications company with operations in
20 countries across Asia and Africa, today announced the launch of its Cloud
Enablement Platform (CLEP) based on the HP Aggregation Platform for
Softwareas-a- Service (AP4SaaS). Bharti Airtel will offer hosted SaaS and IaaS
(Infrastructure-as-a-Service) applications to the small and large enterprises
on a pay-as-you-go model. Initially, Airtel will offer solutions like ERP,
accounting packages, storage and compute on the Airtel CLEP Platform. Going forward
the company will introduce diverse SaaS applications on the same platform
especially for SMB customers, thereby helping them to meet the ever evolving
business demands. Airtel Cloud Services will enable businesses of all sizes to
optimize their IT costs while providing security, scalability and flexibility.
Introducing Airtel CLEP, Sanjay Kapoor, CEO (India and South Asia) Bharti
Airtel said, “Cloud computing market in India is estimated to grow at a CAGR of
40 percent by 2014. Bharti Airtel, with our end to end telecom solutions
bundled with the latest technologies like 3G and 4G, is uniquely poised to lead
this space by offering a wide range of Cloud based services /applications to
our customers. Our strengths as an integrated telecom provider combined with
HP's technical expertise will help us unlock the potential of the rapidly
growing Cloud services market in the country thereby enabling our customers to
increase their business agility and productivity." HP Enterprise Services
built a CLEP using the HP AP4SaaS, integrated into Bharti Airtel's existing
network system. A key component of the HP Cloud Services Enablement portfolio,
the AP4SaaS is a common platform from which Airtel can not only deliver IaaS
but also Communications as a Service and SaaS, either hosted on operator
premises or integrated with third-party SaaS providers. It provides a flexible
set of web service interfaces for enhancing the Cloud Service Provider’s (CSP)
customer portal and facilitates distribution, subscription, and consumption via
a marketplace portal. “Communications service providers need flexibility,
innovation and speed to market to attract new customers and drive new revenue
streams,” said Neelam Dhawan, managing director, HP India. “HP Aggregation
Platform for SaaS eases the integration of SaaS and IaaS into the CSP
environment, expediting the delivery to Airtel’s small and medium business
customers.” HP will offer implementation and management of the end-to-end Cloud
Enablement Platform. About Bharti Airtel Bharti Airtel Limited is a leading
integrated telecommunications company with operations in 20 countries across
Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst
the top 5 mobile service providers globally in terms of subscribers. In India,
the company's product offerings include 2G, 3G and 4G services, fixed line,
high speed broadband through DSL, IPTV, DTH, enterprise services including
national and international long distance services to carriers. In the rest of
the geographies, it offers 2G, 3G mobile services. Bharti Airtel had over 255
million customers across its operations at the end of May 2012. To know more
please visit, www.airtel.com
Bharti Airtel bags
Adam Smith Award 2012 for Highly Commended “Best in Class Benchmarking”
Recognized for
efficiencies driven in the area of treasury operations
New Delhi, 2 July
2012: Bharti Airtel, a leading integrated
telecommunications company with operations in 20 countries across Asia and
Africa, today announced that it has bagged the prestigious Adam Smith Award
2012 for “Best in Class Benchmarking” in recognition of its excellence in the
area of treasury operations. This year the Adam Smith Awards were organized by
London-based publication House -
Treasury Today in association with Lloyds
Bank. The awards’ jury adjudged Bharti Airtel as Highly Commended in this
category for the recent success achieved by the company in centralizing its
all-India payment operations into a captive shared service - the Airtel Centre
of Excellence. This award was received by Mr. Alok Bafna (Head - Finance,
Airtel Centre of Excellence Finance) and Mr. Manish Kapoor (Head - Cash and
Bank, Airtel Centre of Excellence) in an award ceremony held at London a few
days ago.
The solution for Airtel Centre of Excellence was
developed by Airtel jointly with IBM, Citibank and HDFC Bank. A web-based
system has been implemented for processing a million payment transactions worth
about US$ 12 billion annually to all vendors and subscribers across India. The
Adam Smith Award to this solution is in recognition of this project’s efficient
and error-free delivery of a payment processing model, elimination of physical
instruments, on-time vendor payments, continuous auditing, accurate forecasting
and headcount efficiency.
According to Treasury Today, the selection criteria
for winning entries at Adam Smith Awards is based on tangible results in the
form of cost savings and above average ROI driven through exceptional
implementation and quantitative improvements in efficiency. In total, 229
nominations from 24 countries were received from companies’ across various
industries.
About Bharti
Airtel
Bharti Airtel Limited is a leading integrated
telecommunications company with operations in 20 countries across Asia and
Africa. Headquartered in New Delhi, India, the company ranks amongst the top 5
mobile service providers globally in terms of subscribers. In India, the
company's product offerings include 2G, 3G and 4G services, fixed line, high
speed broadband through DSL, IPTV, DTH, enterprise services including national
and international long distance services to carriers. In the rest of the
geographies, it offers 2G, 3G mobile services. Bharti Airtel had over 255
million customers across its operations at the end of May 2012. To know more
please visit, www.airtel.com
'Airtel Rising
Stars' to bring alive young India's soccer dreams
• Airtel Rising Stars’ is India’s largest under-16
soccer talent hunt which will give 12 promising youngsters the
chance-of-a-lifetime to train with Manchester United Soccer School and kick-off
a career in professional football
• Starting mid-July 2012, this 3-month long talent
hunt will involve participation from over 10,000 young soccer players across 16
cities in India and hand-pick the best performers in skill tests, real time
match simulations, coaching clinics with Manchester United Soccer School
coaches, etc.
New Delhi, 26 Jun
2012: Bharti Airtel, a leading global
telecommunications company with operations in 20 countries across Asia and
Africa, today announced the kick off of ‘Airtel Rising Stars’ (ARS) – India’s
largest under-16 soccer talent hunt. Launched in association with Manchester
United (one of the best soccer clubs in the world), ‘Airtel Rising Stars’ is a
rigorous scouting program that will cover 16 cities across India and choose 12
talented footballers who will get the chance-of-a-lifetime to attend a week
long training camp with Manchester United in Old Trafford, England.
This announcement was made in a press conference held
in the presence of Sanjay Kapoor (CEO – India & South Asia, Bharti Airtel),
Manchester United football legend Dwight Yorke as well as ace footballer and
ARS brand ambassador Sunil Chhetri. This 3-months long talent hunt will be
conducted in 16 cities (including Mumbai, Delhi, Goa, Kolkata, Bengaluru,
Calicut, Chandigarh and Jaipur) with the support of the respective State
Football Associations.
"Followed by over 1.6 billion fans worldwide,
soccer is a cult sport amongst youngsters across the globe. In fact, millions
in the Indian subcontinent closely follow the game and aspire to play alongside
professional soccer players. Given the mass appeal of football and a large
youth population, we are uniquely positioned to tap and nurture young soccer
talent. Aimed at recognizing and training such talent, we are today excited to
launch ‘Airtel Rising Stars’ as a hunt for the best under-16 soccer players
across India, Bangladesh and Sri Lanka. As a game, soccer represents the
principles of team-play and ‘friendship’ - thus making it a perfect fit for
brand Airtel. We see ‘Airtel Rising Stars’ as an exciting strategic step
towards strengthening our brand positioning and appeal to the youth”, said
Sanjay Kapoor of Airtel.
Manchester United’s Commercial Director, Richard
Arnold said; “We were very pleased to associate with the ‘Airtel Rising Stars’
programme in India and look forward to working closely with a number of
extremely talented players. With 35 million Manchester United followers, India
is one of our fastest growing fan bases and I have no doubt that we will see
equally talented individuals in this country too. The programme is one of the
largest of its kind in India and it is a great opportunity for us to work with
these talented players in order to coach them on how to play the Manchester
United way.”
The unique format of ‘Airtel Rising Stars’ program
will ensure that every player gets an equal opportunity to showcase his skills
and playing acumen through a series of selection criteria, overseen by renowned
and officially certified coaches in each centre. The best three players from
each city will then be picked to attend a final six-day camp-cum-selection
trials by coaches from Manchester United. The 48 players will be divided into
four teams of 12 each and will be tested on all parameters (including physical
attributes, individual skills, match situations and their performances in
actual matches) before 12 of the best players are chosen to travel to
Manchester United for a week and to train alongside the Manchester United
Academy team. .
For participation in ARS and more information,
visit www.facebook.com/airtelsoccer
The on-ground execution of ‘Airtel Rising Stars’
has been entrusted to Procam International - India’s largest Sports marketing
and Leisure Management company.
In 2009, Bharti Airtel had announced its tie-up
with Manchester United to bring a variety of benefits for Airtel’s football
loving customers in India. As part of this association, Airtel customers across
India have been enjoying exclusive access to Manchester United football content
as well as money-can’t-buy match experiences. The ARS programme is an extension
of this long term association between brand Airtel and Manchester United.
About Bharti
Airtel Limited: Bharti Airtel Limited is a leading
integrated telecommunications company with operations in 20 countries across
Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst
the top 5 mobile service providers globally in terms of subscribers. In India,
the company's product offerings include 2G, 3G and 4G services, fixed line,
high speed broadband through DSL, IPTV, DTH, enterprise services including
national and international long distance services to carriers. In the rest of
the geographies, it offers 2G, 3G mobile services. Bharti Airtel had over 255
million customers across its operations at the end of May 2012. To know more
please visit, www.airtel.in.
About Manchester
United Manchester United is the world’s most
popular football club, with an estimated 333 million fans and was recently
named by Forbes magazine as the most valuable sports club in the world. Founded
in 1878, the Club has won a record 19th English league championships to add to
its record 11 English FA Cups, 3 European Cups, 1 European Cup Winners' Cup, 1
FIFA Club World Cup, 1 Intercontinental Cup and 4 English League Cups. Its
Manager, Sir Alex Ferguson, is the most successful manager in British history.
Off the field, the Club enjoys similar success with record turnover for a
British club and the highest operating profit levels in world football.
Bharti Airtel
announces consolidated IFRS results for the fourth quarter and year ended March
31, 2012
Highlights for the
fourth quarter ended March 31, 2012
·
Overall customer
base stands at 252 million, across 20 countries.
·
Total revenues at
Rs.187290.000 Millions, up by 15% Y-o-Y.
·
India & South
Asia revenues at Rs.13421 Millions, up by 10.5% Y-o-Y.
·
Africa revenues at
$1,071 million, up by 15.9% Y-o-Y. In Rupee terms, Africa revenue growth is at
28.8%.
·
Consolidated
EBITDA of Rs.62330.000 Millions, up by 13.7% Y-o-Y. EBITDA margin at 33.3%.
Highlights for the
year ended March 31, 2012
· Total revenues at Rs.714510.000 Millions, up by 20.0% Y-o-Y.
· India & South Asia revenues at Rs.518930.000 Millions, up by 11.6% Y-o-Y.
· Africa revenues at $4,137 million, up by 43.7% Y-o-Y. In Rupee terms, Africa revenue growth is 51.5%.(1)
· Consolidated EBITDA of Rs.237120.000 Millions, up by 18.1% Y-o-Y. Full year EBITDA margin at 33.2%.
New Delhi, India,
May 2, 2012: Bharti Airtel Limited (“Bharti Airtel” or
“the Company”) today announced its audited consolidated IFRS results for the
fourth quarter and year ended March 31, 2012.
Revenue growth in the fourth quarter was fuelled by
increased customer additions and strong minutes growth in India. Despite a
national strike for 9 days in Nigeria, Africa revenues continued its growth
trend. Consolidated EBITDA margin was sustained at a robust level of 33.3%
benefitting from scale and cost efficiencies.
The Consolidated Net Income of Rs.10060.000 Millions (Q4 FY 11:
Rs.14010.000 Millions) was impacted by higher costs on account of 3G license
fee amortisation (Rs.1060.000 Millions), 3G interest costs (Rs.840.000
Millions), forex fluctuation losses (Rs.1320.000 Millions) and tax provisions
(Rs.1980.000 Millions).
Revenue growth of 11.6% for the full year in India
and SA was mainly contributed by stability in pricing accompanied by robust
growth in customer numbers. Africa, after adjusting for the number of days in Q1
FY11, grew by 18.8% in $ terms, on the back of network expansion and a growing
customer base. Consolidated EBITDA
margins for the full year dropped to 33.2% (FY 11: 33.7%), but Africa improved
to 26.5% (FY 11: 21.9%). The Consolidated Net Income for the year at Rs.
42590.000 Millions (FY 11: Rs.60470.000 Millions) was impacted by higher costs
on account of 3G license fee amortisation (Rs.5930.000 Millions), 3G interest
costs (Rs.4210.000 Millions), forex fluctuation losses (Rs.4220.000 Millions) and tax provisions (Rs.4810.000
Millions). The Net Debt – Equity ratio is at 1.29 (FY11: 1.23) and Net Debt -
EBITDA ratio improved to 2.56 (FY11: 2.95).
In a statement,
Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel Limited,
said: “I am
pleased that the year has ended with the Company’s customer base crossing 250
million across twenty countries, the twentieth country being Rwanda. Our launch
of 4G LTE, the first in India, is testimony to our commitment to the broadband
agenda. The recent regulatory developments in India will have significant
implications on the future of telephony and broadband, as well as India’s
global competitiveness. The entire industry looks to the Government for a fair,
transparent and sustainable telecom regime”
Summary of the
Consolidated Statement of Income – represents consolidated Statement of Income
as per International Financial Reporting Standards (IFRS)
(Rs. In Millions, except ratios)
|
Particular |
Quarter Ended |
Y-o-Y Growth |
Year Ended |
Y-o-Y Growth |
||
|
|
March 2012 |
March 2011 |
|
March 2012 |
March 2011 |
|
|
Total revenues |
187290.000 |
162930.000 |
15.0% |
714510.000 |
595380.000 |
20.0% |
|
EBITDA |
62330.000 |
54830.000 |
13.7% |
237120.000 |
200720.000 |
18.1% |
|
Cash profit from operations |
51760.000 |
48000.000 |
7.8% |
198940.000 |
178910.000 |
11.2% |
|
Income before income taxes |
17060.000 |
18300.000 |
(6.8%) |
65180.000 |
76780.000 |
(15.1%) |
|
Net income |
10060.000 |
14010.000 |
(28.2%) |
42590.000 |
60470.000 |
(29.6%) |
Customer Base
(Figures in nos, except ratios)
|
Parameters |
Unit |
March 2012 |
December 2011 |
Q-o-Q Growth |
March 2011 |
Y-o-Y Growth |
|
Mobile Services |
000's |
241,148 |
232,950 |
3.5% |
211,919 |
13.8% |
|
India & South Asia |
000's |
188,008 |
182,000 |
3.3% |
167,713 |
12.1% |
|
Africa |
000's |
53,140 |
50,949 |
4.3% |
44,206 |
20.2% |
|
Telemedia Services |
000's |
3,270 |
3,317 |
(1.4%) |
3,296 |
(0.8%) |
|
Digital TV Services |
000's |
7,228 |
7,069 |
2.3% |
5,663 |
27.6% |
|
Total |
000's |
251,646 |
243,336 |
3.4% |
220,877 |
13.9% |
About Bharti
Airtel Limited
Bharti Airtel Limited is a leading integrated
telecommunications company with operations in 20 countries across Asia and Africa.
Headquartered in New Delhi, India, the company ranks amongst the top 5 mobile
service providers globally in terms of subscribers. In India, the company's product offerings
include 2G, 3G and 4G services, fixed line, high speed broadband through DSL,
IPTV, DTH, enterprise services including national & international long
distance services to carriers. In the rest of the geographies, it offers 2G, 3G
mobile services. Bharti Airtel had close to 252 million customers across its
operations at the end of March 2012. To know
More please visit, www.airtel.com
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 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.55.42 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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.