|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
TATA COMMUNICATIONS TRANSFORMATION SERVICES LIMITED [w.e.f.
19.02.2008] |
|
|
|
|
Formerly Known
As : |
VSNL GLOBAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
C -21/ C 36, G Block, Bandra Kurla Complex, Mumbai – 400098, |
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.10.2006 |
|
|
|
|
Com. Reg. No.: |
11-165083 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93090MH2006PLC165083 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14350A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV3189Q |
|
|
|
|
Legal Form : |
A Closely Held Pubic Limited Liability Company |
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|
|
|
Line of Business
: |
Subject in the business of providing telecommunication network management and support services. |
|
|
|
|
No. of Employees
: |
194 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 1800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a Tata Group Company. It is well established and reputed
company having good track record. Financially company performance seems to be
good. Fundamentally company is strong.
Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Rishabh Aditya |
|
Designation : |
Vice President (Legal Department) |
|
Contact No.: |
91-22-66591965 |
|
Date : |
15.02.2013 |
LOCATIONS
|
Registered Office : |
C -21/ C 36, G Block, Bandra Kurla Complex, Mumbai – 400098,
Maharashtra, India |
|
Tel. No.: |
91-22-66578765 / 66591965 / 66591977 |
|
Fax No. : |
91-22-67251962 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Satish Gopal Ranade |
|
Designation : |
Director |
|
Address : |
15-8 JPM Society, |
|
Date of Birth/Age : |
14.09.1953 |
|
Date of Appointment : |
06.10.2006 |
|
DIN No.: |
00058116 |
|
|
|
|
Name : |
Mr. Srinivasa Rao Addepalli |
|
Designation : |
Director |
|
Address : |
1002 Dosti Dailsy, Dosti Acres Near Antop Hill, Wadala East,
Mumbai-400037, |
|
Date of Birth/Age : |
23.03.1975 |
|
Date of Appointment : |
06.10.2006 |
|
DIN No.: |
00362918 |
|
|
|
|
Name : |
Mr. Sanjay Govind Baweja |
|
Designation : |
Director |
|
Address : |
H – 29 Street 11, Ranjinder Nagar, |
|
Date of Birth/Age : |
11.10.1960 |
|
Date of Appointment : |
24.07.2009 |
|
DIN No.: |
00232126 |
KEY EXECUTIVES
|
Name : |
Ms. Shalini Shrivastav |
|
Designation : |
Secretary |
|
Address : |
Gunina, Flat No.202, Plot 2 and 3, Sector 16A, Sanpada, Navi Mumbai –
400705, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1977 |
|
Date of Appointment : |
25.07.2012 |
|
PAN No.: |
BOWPS5539B |
|
|
|
|
Name : |
Mr. Rishabh Aditya |
|
Designation : |
Vice President (Legal Department) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Tata Communication Limited, |
|
499400 |
|
Venkata Chalapati Rao Tata Communication Limited, India |
|
100 |
|
Satish Gopal Ranade Tata Communication Limited, India |
|
100 |
|
Aroon Dasappa Tata Communication Limited, India |
|
100 |
|
Srinivasa Rao Addepalli Tata Communication Limited, India |
|
100 |
|
Rishabh Nath Aditya Tata Communication Limited, India |
|
100 |
|
Ashok Someshwar Tata Communication Limited, India |
|
100 |
|
Total |
|
500000 |
As on 24.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject in the business of providing telecommunication
network management and support services. |
GENERAL INFORMATION
|
No. of Employees : |
194 (Approximately) |
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Bankers : |
Not Available |
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Facilities : |
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S.B. Billimoria and Company Chartered Accountants |
|
Address : |
12, Dr. Annie Besant Road, Worli, Mumbai 400 018, Maharashtra, India |
|
PAN No.: |
AAAFS7376P |
|
|
|
|
Holding Companies : |
·
Tata Communications Limited, India CIN No.: L64200MH1986PLC039266 |
|
|
|
|
Investing party
of Holding Company : |
·
Panatone Finvest Limited ·
Tata Sons Limited |
|
|
|
|
Fellow Subsidiaries
: |
·
Tata Communications Banking Infra Solutions
Limited ·
Tata Communications Lanka Limited ·
Tata Communications International Pte Limited ·
VSNL SNOSPV Pte Limited ·
S and A Internet Services Private Limited ·
Tata Communications (Australia) Pty Limited ·
Tata Communications (America) Inc VSNL International (ITXC) Corp (Merged with Tata Communications
(America) Inc. on 30 March 2012) ·
Tata Communications(Belgium SPRL) ·
Tata Communications (Bermuda) Limited ·
Tata Communications Services (Bermuda) Limited ·
Tata Communications (Canada) ULC ·
Tata Communications (France) SAS ·
Tata Communications Deutschland GmbH ·
Tata Communications (Guam) LLC ·
Tata Communications (Hong Kong)Limited ·
Tata Communications (Hungary) LLC ·
Tata Communications (Ireland) Limited ·
Tata Communications(Italy) Srl ·
Tata Communications (Japan) KK. ·
ITXC IP Holdings Sarl ·
Tata Communications (Netherlands) BV ·
Tata Communications (Nordic) AS ·
Tata Communications (Poland) Sp. Zoo ·
Tata Communications (Portugal) Unipessoal LDA ·
Tata Communications (Portugal) Instalacaco E
Manutencao De Redes LDA ·
Tata Communications (Puerto Rico) Inc ·
Tata Communications (Russia) LLC ·
Tata Communications Services (International) Pte.
Limited ·
Videsh Sanchar Nigam Spain Srl ·
Tata Communications (Sweden) AB ·
Tata Communications (Switzerland) GmbH ·
Tata Communications (UK) Limited ·
Tata Communications (Middle East)FZ-LLC ·
TCPoP Communication GmbH ·
Tata Communications (Taiwan) Limited ·
BitGravity Inc. ·
Neotel (Pty) Limited ·
SEPCO Communications Pty Limited ·
Tata Communications (Spain) S.L (Formerly known
as Videsh Sanchar Nigam Spain Srl) ·
Tata Communications (New Zealand) Limited ·
Tata Communications (Malaysia) Sdn. Bhd. ·
Tata Communications Services (America) Inc. ·
Neotel Business Support Services (Pty) Limited ·
TCNL1 B.V. ·
TCNL2 B.V. |
|
|
|
|
Joint Venture of
Holding Company : |
·
United Telecom Limited |
|
|
|
|
Joint Venture /
Associate of Holding Company : |
·
SEPCO Communications Pty. Limited (held through
VSNL SNOSPV Pte Limited) ·
Neotel (Pty) Limited - subsidiary of SEPCO (held through
VSNL SNOSPV Pte Limited) ·
Number Portability Company (Pty) Limited (Held
through Neotel (Pty) Limited) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
NOTE: Out of which 499400 shares are held by Tata Communications Limited, the
Holding company and balance are held by nominee directors.
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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
3.556 |
|
|
3] Reserves & Surplus |
454.651 |
515.148 |
381.311 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
459.651 |
520.148 |
389.867 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
27.412 |
69.627 |
0.000 |
|
|
TOTAL BORROWING |
27.412 |
69.627 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
487.063 |
589.775 |
389.867 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
189.445 |
166.883 |
189.936 |
|
|
Capital work-in-progress |
6.102 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
160.266 |
187.196 |
|
|
DEFERREX TAX ASSETS |
19.057 |
6.178 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
581.947
|
239.740
|
173.423 |
|
|
Cash & Bank Balances |
36.215
|
22.267
|
20.014 |
|
|
Other Current Assets |
0.946
|
0.000
|
0.000 |
|
|
Loans & Advances |
132.449
|
348.397
|
127.191 |
|
Total
Current Assets |
751.557
|
610.404
|
320.628 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
374.885
|
322.338
|
275.564 |
|
|
Other Current Liabilities |
59.252
|
0.000
|
0.000 |
|
|
Provisions |
44.961
|
31.618
|
32.329 |
|
Total
Current Liabilities |
479.098
|
353.956
|
307.893 |
|
|
Net Current Assets |
272.459
|
256.448
|
12.735 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
487.063 |
589.775 |
389.867 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1346.779 |
|
|
|
Other Income |
|
|
34.973 |
|
|
|
TOTAL (A) |
|
|
1381.752 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
|
|
752.368 |
|
|
|
Other expenses |
|
|
417.062 |
|
|
|
TOTAL
(B) |
|
|
1169.430 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
212.322 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
211.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
61.871 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
150.029 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
47.814 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
102.215 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Revenue |
|
|
1033.404 |
|
|
TOTAL EARNINGS |
|
|
1033.404 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
|
2.304 |
|
|
TOTAL IMPORTS |
|
|
2.304 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
204.43 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1165.403 |
1225.290 |
|
|
|
Other Income |
|
26.445 |
15.213 |
|
|
|
TOTAL (A) |
|
1191.848 |
1240.503 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Cost |
|
60.931 |
55.252 |
|
|
|
Employee Related Expenses |
|
626.055 |
591.495 |
|
|
|
Administrative Selling and Other Expenses |
|
308.293 |
298.130 |
|
|
|
TOTAL (B) |
|
995.279 |
944.877 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
196.569 |
295.626 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.176 |
0.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
195.393 |
294.947 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
57.278 |
51.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
138.115 |
243.438 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
4.278 |
18.516 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
133.837 |
224.922 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
133.837 |
224.922 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
995.765 |
1097.107 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
8.949 |
5.309 |
|
|
TOTAL IMPORTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
267.67 |
449.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.40
|
11.23
|
18.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.14
|
11.85
|
19.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.94
|
17.77
|
47.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.27
|
0.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.06
|
0.13
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.72
|
1.04 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
31.03.2010 (Rs. In Millions) |
|
Sundry Creditors |
374.885
|
322.338
|
275.564 |
NOTE:
TRADE CREDITORS
INCLUDES (AS ON 31.03.2011):
i) Amount due to Tata
Communications Limited, the Holding Company, Rs.61.438 Millions (Previous Year
- Rs. 27.671 Millions)
ii) Amount due to
Tata Communications (UK) Limited, fellow subsidiary - Rs.4.164 Millions
(Previous Year - Rs. 9.209 Millions)
iii) Amount due to
Tata Communications (Netherlands) BV, fellow subsidiary - Rs.0.116 Million
(Previous Year - Rs. 0.116 Million)
iv) Amount due to
Tata Communications (America) Inc, fellow subsidiary - Rs.12.307 Millions
(Previous Year - Rs.NIL)
v) Amount due to
Tata Communications Services (America), fellow subsidiary - Rs.0.232 Million
(Previous Year -Rs.2.823 Millions)
vi) Amount due to Tata Communications (US) Inc,
fellow subsidiary - Rs.4.857 Millions (Previous Year - Rs. 14.871 Millions)
Vii) Amount due to
Neotel Pty Limited - Rs.2.408 Millions (Previous Year Rs. NIL)
VIII) Amount due
to Tata Communications Canada (ULC)-Rs.25.755 Millions (Previous Year Rs.0.217
Million)
ix) Amount due to Micro Small and Medium Enterprises
IT INCLUDES:
(Rs.
In Millions)
|
CURRENT
LIABILITIES |
31.03.2011 |
31.03.2010 |
|
Trade Creditors |
270.197 |
230.375 |
|
Unearned Income |
0.929 |
3.887 |
|
Other Liabilities |
50.366 |
41.302 |
|
Advance from Customers |
0.846 |
0.000 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from
Lokmanya Videsh Sanchar Bhawan, Kashinath Dhuru Marg, Prabhadevi,
Mumbai-400028, Maharashtra, India to the present address w.e.f. 25.10.2009.
STRATEGIC OVERVIEW
AND OPERATIONS
OSP Registration
The global reach and industry expertise of The Company drives and delivers a new world of business transformation. The Company aims to provide to its customers value-driven, globally managed solutions leveraging its Domain expertise and leadership in emerging markets.
The Company is a 100% subsidiary of Tata Communications Limited (Parent) set up to independently provide to the telecom carriers and enterprise customers worldwide, business transformation, telecom BPO and consultancy services. The Company devises and delivers solutions to its customers for every stage of carrier business lifecycle including but not limited to network planning, design and engineering, implementation and operations (Service Delivery, Assurance, Management) functions.
The Company has established two world class delivery centres in Pune and Chennai. The facilities at these centres are completely insulated from the operations of its Parent, preserving full confidentiality in managing all customers' business processes.
With the headquarters in Mumbai, The Company has partner offices in Europe and North America. The Company is committed to carry its operations with the rich traditions and business ethics of the Tata Group The Company has created and deployed its own Processes and Platforms for identified telecom practice areas and internal support functions, which differentiates it from its competitors in the market place.
CONTINGENT LIABILITIES:
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Bank Guarantees * |
0.776 |
0.465 |
|
Claims for taxes on income ** |
61.703 |
0.000 |
|
Notes: * The Company has given a Bank Guarantee in favour of Commissioner of Customs, Software Technology Park of India, Chennai and Pune. ** The Company during the year has received a draft assessment order from the Income Tax Authorities for AY 2008-09. The Company has filed objections to Dispute Resolution Panel which is pending for disposal. Also, the Company has received demand notices in respect of certain non-compliance of TDS for assessment year 2009-10, 2010-11 and 2011-12 for which the Company has preferred appeals and/ or filed rectifications which are pending. |
||
FIXED ASSETS:
PRESS RELEASE:
TATA
COMMUNICATIONS LAUNCHES SGD 500 MN BOND SALE
Tata Communications,
an arm of the Tata Group, today launched a benchmark (SGD 500 million or more;
about Rs 2,200 crore) issue in the Singapore market, providing a further boost
to domestic corporates raising funds overseas, according to merchant banking
sources.
January 24, 2013
Tata Communications , an arm of
the Tata Group, today launched a benchmark (SGD 500 million or more; about Rs
2,200 crore) issue in the Singapore market, providing a further boost to
domestic corporates raising funds overseas, according to merchant banking
sources.
"The benchmark issue from Tata Communications Netherlands, which is
a subsidiary of Tata Communications, denominated in Singapore dollars, has an
initial pricing guidance of 4.250-4.375 per cent. The bond sale has a maturity
of three years," a merchant banking source told PTI.
Tata Communications could not be immediately reached for comments.
Expect tariff hikes in next 1 yr to sustain profit: RComm
The REG S (Regulation S) bond issue carries a guarantee from parent Tata
Communications, which is into international voice and data transfer. Tata
Communications was formerly the state-run VSNL, which the Tatas bought through
a divestment programme in early 2000.
Regulation S bonds are a "safe harbor" as they are executed in
another country and will not be subject to the registration requirement. These
bonds carry two safe harbour provisions--an issuer safe harbour and a resale
safe harbour.
The new year has seen many domestic companies and financial institutions
such as the Exim Bank and ICICI Bank raising debt.
On January 7, the Exim Bank raised USD 750 million in a European bond
sale at the cheaper ever rate of 4 per cent for a 10-year money, which got an
over-subscription of 8.5 times the issue size.
Within a week, state-run distribution utility PowerGird raised USD 500
million at 3.87 per cent for a 10-year USD issue which got an over-subscription
of 19 times.
In the same week, the largest private lender ICICI Bank mopped USD 225
million from a seven-year Singapore bond sale programme on January 10.
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 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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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.