MIRA INFORM REPORT

 

 

Report Date :

07.11.2012

 

IDENTIFICATION DETAILS

 

Name :

OPTIEMUS INFRACOM LIMITED (w.e.f 06.07.2012)

 

 

Formerly Known As :

AKANKSHA CELLULAR LIMITED

 

 

Registered Office :

K-20, 2nd Floor, Lajpat Nagar-II, New Delhi – 110024

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

17.06.1993

 

 

Com. Reg. No.:

054086

 

 

Capital Investment / Paid-up Capital :

Rs. 858.142 Millions

 

 

 

CIN No.:

[Company Identification No.]

L64200DL1993PLC054086

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELA23355D

 

 

PAN No.:

[Permanent Account No.]

AAACA2031L

 

 

Legal Form :

A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.

 

 

Line of Business :

Distributor of Samsung Mobile.

 

 

No. of Employees :

650 (approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 5610000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

3/5

Rating Explanation

Good Fundamental

Date

August 22, 2012

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

 

 

LOCATIONS

 

Registered Office :

K-20, 2nd Floor, Lajpat Nagar-II, New Delhi – 110024, India

Tel. No.:

91-11-29840905/ 06/ 07

Fax No.:

91-11-29840908

E-Mail :

info@optiemus.com

Website :

www.optiemus.com

 

 

Branch Office :

317, Competent House, F 14  Connaught Circus, New Delhi – 110001, India

Tel. No.:

91-11-41529023

Fax No.:

91-11-41529030

 

DIRECTORS

 

As on 31.03.2012

 

Name :

Mr. Manoj Jain

Designation :

Non-Executive Director

Qualification :

Graduate

Experience :

22 Years

 

 

Name :

Mr. Ashok Gupta

Designation :

Chairman and Managing Director

Qualification :

B.Com

Experience :

32 Years

 

 

Name :

Mr. Hardip Singh

Designation :

Director (Operations)

Qualification :

BA

Experience :

20 Years

 

 

Name :

Ms. Parul Rai

Designation :

Director (Business Relation)

Qualification :

M.A, B.Ed

Experience :

15 Years

 

 

Name :

Mr. Laliet Gupta

Designation :

Non-Executive Director

Qualification :

Practicing Advocate

Experience :

20 Years

 

 

Name :

Mr. Gautam Kanjilal

Designation :

Non-Executive Director

Qualification :

Graduate in Economics

Experience :

37 Years

 

 

KEY EXECUTIVES

 

Name :

Mr. Vikas chandra

Designation :

Company secretary

 

 

Name :

Mr. Parveen sharma

Designation :

Chief financial officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011 

 

Names of Shareholders

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/images/clear.gifIndividuals / Hindu Undivided Family

25,562,041

29.79

http://www.bseindia.com/images/clear.gifBodies Corporate

38,738,500

45.14

http://www.bseindia.com/images/clear.gifSub Total

64,300,541

74.93

http://www.bseindia.com/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

64,300,541

74.93

(B) Public Shareholding

 

 

http://www.bseindia.com/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/images/clear.gifBodies Corporate

18,691,366

21.78

http://www.bseindia.com/images/clear.gifIndividuals

 

 

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Millions

1,515,177

1.77

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Millions

1,257,077

1.46

http://www.bseindia.com/images/clear.gifAny Others (Specify)

50,030

0.06

http://www.bseindia.com/images/clear.gifHindu Undivided Families

48,584

0.06

http://www.bseindia.com/images/clear.gifNon Resident Indians

545

-

http://www.bseindia.com/images/clear.gifClearing Members

901

-

http://www.bseindia.com/images/clear.gifSub Total

21,513,650

25.07

Total Public shareholding (B)

21,513,650

25.07

Total (A)+(B)

85,814,191

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

-

-

http://www.bseindia.com/images/clear.gif(1) Promoter and Promoter Group

-

-

http://www.bseindia.com/images/clear.gif(2) Public

-

-

http://www.bseindia.com/images/clear.gifSub Total

-

-

Total (A)+(B)+(C)

85,814,191

-

 

 

BUSINESS DETAILS

 

Line of Business :

Distributor of Samsung Mobile.

 

 

GENERAL INFORMATION

 

No. of Employees :

650 (approximately)

 

 

Bankers :

·         Indusind Bank Limited

·         State Bank of India

·         Standard Chartered Bank

·         Axis Bank Limited

 

 

Facilities :

Secured Loan

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

Term Loan from Banks

639.162

0.000

Vehicle Loan

12.269

15.413

Working Capital Loans from Bank

610.103

373.205

Bill Discounting

600.000

545.800

Total

1861.534

934.418

 

 

 

Unsecured Loan

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

From Directors

0.000

0.000

From Others

446.970

47.800

Total

446.970

47.800

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

RMA and Associates

Chartered Accountants

Address :

48, Ist Floor, Hasan Pur, I.P. Extention, Delhi – 110092, India

 

 

Subsidiary Company:

Optiemus Infracom ( Singapore) Pte Limited

 

 

Fellow Subsidiary Company:

Optiemus Metals and Mining Pte. Limited

 

 

Entities in which KMP/ Relatives of KMP

can exercise significant influence:

·         Teleecare Network (India) Private Limited

·         GRA Enterprises Private Limited

·         United Online India Private Limited

·         EMU Exports Private Limited

 

CAPITAL STRUCTURE

 

As on 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

85980000

Equity Shares

Rs.10/- each

Rs.859.800 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

85814191

Equity Shares

Rs.10/- each

Rs.858.142 Millions

 

 

 

 

 

The Company has only one class of equity shares having a par value of Rs. 10 per shares. Each holder of

equity is entitled to one vote per share.

 

In event of liquidation of the Company, the total proceeds from such liquidation event remaining to be distributed among the holders of the shares of the Company after discharging the liabilities of the Company.

 

List of shareholders holding Equity Shares 5 % or more

 

Name of Shareholders

31.03.2012

 

No. of Shares

%Holding

GRA Enterprises Private Limited

38738500

45.14

Mr. Ashok Gupta

5754894

6.71

Mrs. Renu Gupta

6981111

8.14

Mr. Deepesh Gupta

5365029

6.25

Mr. Neetesh Gupta

5214607

6.08

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2012

31.03.2011

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

858.142

858.142

720.742

2] Share Application Money

0.000

20.500

29.064

3] Reserves & Surplus

545.893

264.554

108.689

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1404.035

1143.196

858.495

LOAN FUNDS

 

 

 

1] Secured Loans

1861.534

934.418

772.878

2] Unsecured Loans

446.970

47.800

45.431

TOTAL BORROWING

2308.504

982.218

818.309

DEFERRED TAX LIABILITIES

17.158

17.836

22.998

 

 

 

 

TOTAL

3729.697

2143.250

1699.802

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1409.410

193.473

259.653

Capital work-in-progress

2.033

0.000

0.000

 

 

 

 

INVESTMENT

16.973

11.129

99.924

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
424.134
418.176

271.017

 

Sundry Debtors
2440.789
2100.251

1484.853

 

Cash & Bank Balances
546.277
336.274

359.789

 

Other Current Assets
54.720
107.546

199.352

 

Loans & Advances
665.839
617.751

320.856

Total Current Assets
4131.759
3579.998

2635.867

Less : CURRENT LIABILITIES & PROVISIONS
 
 

 

 

Sundry Creditors
1689.502
1542.219

1225.334

 

Other Current Liabilities
8.587
16.337

37.444

 

Provisions
132.389
83.887

34.565

Total Current Liabilities
1830.478
1642.443

1297.343

Net Current Assets
2301.281
1937.555

1338.524

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

1.093

1.701

 

 

 

 

TOTAL

3729.697

2143.250

1699.802

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS