MIRA
INFORM REPORT
|
Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
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Registered
Office : |
Suman Tower, Plot
No.18, Sector-11, Gandhinagar – 382 011, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
14.03.1995 |
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Com. Reg. No.: |
04-030976 |
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Capital
Investment / Paid-up Capital : |
Rs.33088.450
Millions |
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CIN No.: [Company Identification
No.] |
L32100GJ1996PLC030976 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMI00670F |
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PAN No.: [Permanent Account No.] |
AAACB2100P |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are
Listed on the Stock Exchanges. |
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Line of Business
: |
The Company
operates in two business segments: a) Mobility
Services: providing GSM based mobile and related telephony services. b) International Long Distance (ILD): providing international long
distance services. |
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No. of Employees
: |
7661 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (69) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 517382000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “ADITYA BIRLA GROUP”. It is a well established and reputed company having a good track
record. Financially company appears to be strong. Performance capability is
high. The ratings also take into consideration the strong support from its
group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. In view of experience promoters, the company can be considered for
normal business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating: AA |
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Rating Explanation |
Having high degree of safety regarding timely servicing of financial
obligation it carry very low credit risk. |
|
Date |
October 25, 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.
INFORMATION DECLINED
Management non-cooperative
(Mobile No.: 91-9594004000)
LOCATIONS
|
Registered Office : |
Suman Tower, Plot
No.18, Sector-11, Gandhinagar – 382 011, Gujarat, India |
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Tel. No.: |
91-79-66714000 / 23232250 |
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Fax No.: |
91-79-23232251 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft |
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Location : |
Owned |
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Corporate Office : |
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Hyderabad Office : |
3rd Floor K L K Estate , Fateh Maiden Road, Baseerbagh,
Hyderabad – 500 001, Andhra Pradesh, India |
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Tel. No.: |
91-40-66652000 |
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Fax No.: |
91-40-66562222 |
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New Delhi Office : |
A-30 Mohan Co-Operative, Industrial Area , Mathura Road, New Delhi –
110 020, India |
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Tel. No.: |
91-11-66615555 |
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Fax No.: |
91-11-66615698/ 99 |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Kumar Mangalam Birla |
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Designation : |
Chairman |
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Address : |
Mangal Adityayan 20, |
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Date of Birth/Age : |
14.06.1967 |
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Name : |
Mrs. Rajashree Birla |
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Designation : |
Non-Executive Director |
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Address : |
Mangal Adityayan 20, |
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Date of Birth/Age : |
15.09.1945 |
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Name : |
Dr. Rakesh Jain |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Biswajit Anna Subramanian |
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Designation : |
Non-Executive Director |
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Address : |
31 |
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Date of Birth/Age : |
19.09.1965 |
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Name : |
Mr. Juan Villalonga Navarro |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Sanjeev Aga |
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Designation : |
Non-Executive Director |
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Address : |
703, Raheja Grande, |
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Date of Birth/Age : |
01.02.1952 |
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Name : |
Mr. Arun Thiagarajan |
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Designation : |
Independent Director |
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Address : |
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Date of Birth/Age : |
07.09.1944 |
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Name : |
Mr. Gian Prakash Gupta |
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Designation : |
Independent Director |
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Address : |
101, Kaveri, B Wing, |
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Date of Birth/Age : |
11.01.1941 |
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Name : |
Mr. Mohan Gyani |
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Designation : |
Independent Director |
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Address : |
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Date of Birth/Age : |
15.06.1951 |
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Name : |
Ms. Tarjani Vakil |
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Designation : |
Independent Director |
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Address : |
A-1, Ishwardas
Mansions Nana Chowk, Mumbai – 400 007, |
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Date of Birth/Age : |
30.10.1936 |
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Name : |
Mr. R.C. Bhargava |
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Designation : |
Independent Director |
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Name : |
Mr. P. Murari |
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Designation : |
Independent Director |
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Name : |
Ms. Madhabi Puri Buch |
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Designation : |
Independent Director |
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Name : |
Mr. Himanshu Kapania |
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Designation : |
Managing Director |
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Name : |
Dr. Shridhir Sariputta Hansa
Wijayasuriya |
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Designation : |
Alternate Director to Mr. Juan Villalonga Navarro |
KEY EXECUTIVES
|
Name : |
Mr. Akshaya Moondra |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Pankaj Kapdeo |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
233333 |
0.01 |
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|
1520445714 |
45.86 |
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|
1520679047 |
45.86 |
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Total shareholding of Promoter and Promoter Group (A) |
1520679047 |
45.86 |
|
(B) Public Shareholding |
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|
40390038 |
1.22 |
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|
95563133 |
2.88 |
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|
40761671 |
1.23 |
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|
555562116 |
16.76 |
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|
732276958 |
22.09 |
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|
|
|
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|
16763088 |
0.51 |
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|
44133644 |
1.33 |
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|
4165926 |
0.13 |
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|
997552473 |
30.09 |
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|
230239 |
0.01 |
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|
1276754 |
0.04 |
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|
545729 |
0.02 |
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|
990162003 |
29.86 |
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|
5337748 |
0.16 |
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|
1062615131 |
32.05 |
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Total Public shareholding (B) |
1794892089 |
54.14 |
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Total (A)+(B) |
3315571136 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
3315571136 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 million Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
As a % of grand total |
|
1 |
Aditya Birla Nuvo Limited |
837526221 |
25.26 |
|
2 |
Birla TMT Holdings Private Limited |
283565373 |
8.55 |
|
3 |
Hindalco Industries Limited |
228340226 |
6.89 |
|
4 |
Grasim Industries Limited |
171013894 |
5.16 |
|
5 |
Kumar Mangalam Birla |
233333 |
0.01 |
|
|
Total |
1520679047 |
45.86 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
TMI Mauritius Limited |
464734670 |
14.02 |
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|
2 |
P5 Asia Investments Mauritius Limited |
330000000 |
9.95 |
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3 |
Axiata Investments 2 (India) Limited |
195427333 |
5.89 |
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4 |
National Westminster Bank PLC As Deposit |
33604288 |
1.01 |
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5 |
National Westminster Bank PLC As Deposit |
77921545 |
2.35 |
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6 |
Vanguard International Growth Fund |
34985135 |
1.06 |
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Total |
1136672971 |
34.28 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons (together with PAC) belonging to the category “Public”
and holding more than 5% of the total number of shares of the company
|
Sl. No. |
Name(s) of the shareholder(s) and the Persons
Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of Total No. of Shares |
|
|
1 |
TMI Mauritius Limited |
464734670 |
14.02 |
|
|
2 |
P5 Asia Investments (Mauritius) Limited |
330000000 |
9.95 |
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|
3 |
Axiata Investments 2 (India) Limited |
195427333 |
5.89 |
|
|
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Total |
990162003 |
29.86 |
BUSINESS DETAILS
|
Line of Business : |
The Company operates
in two business segments: a) Mobility
Services: providing GSM based mobile and related telephony services. b) International Long Distance (ILD): providing international long
distance services. |
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Products/ Services : |
· Cellular Mobile Phone Services ·
Handsets |
GENERAL INFORMATION
|
No. of Employees : |
7661 (Approximately) |
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Bankers : |
· Dena Bank, Deccan Gymkhana Branch, Pune, Maharashtra, India · Deutsche Bank, Mumbai – 400 001, Maharashtra, India · Standard Chartered Bank, 90, M.G Road, Fort, Mumbai – 400 001, Maharashtra, India · Standard Chartered Grindlays Bank · HDFC Bank Limited, 26-A, Narayan Properties, Chandivali Farm Road, Saki Naka, Andheri (East), Mumbai – 400 072, Maharashtra, India · Axis Bank Limited, Sterling Plaza, 1262/B, J.M. Road, Deccan Gymkhana, Pune, Maharashtra, India ·
IDBI
Bank Limited, IDBI House, Dnyaneshwar Paduka Chowk, F.C. Road,
Shivajinagar, Pune, Maharashtra, India |
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Facilities : |
Notes: LONG TERM
BORROWINGS a) Secured Loans are covered by: Term Loans
including current maturities are secured by way of first charge/assignment
ranking pari-passu interse the lenders, as under: (i) First charge
on all the movable and immovable properties of the Company respectively, (ii) First
charge over all intangible assets (excluding Telecom Licenses) of the
Company, (iii) Assignment
of the rights, titles and interest, on deposits, investments, bank accounts,
book debts, insurance covers, other general assets, letters of credit and
guarantees, provided in favour of the Company. Out of the above
Loan, Foreign Currency Loan amounting to Rs.43698.740 Millions (Previous year
Rs.18349.020 Millions) and Rupee Loan amounting to Rs.21506.000 Millions
(Previous year Rs.40531.980 Millions) additionally have pledge on 60%
shareholding of Indus Towers Limited held by wholly owned subsidiary. Further
Foreign Currency Loan amounting to Rs.8660.710 Millions (Previous year Rs.8733.340
Millions) and Rupee Loan amounting to Rs.21506.080 Millions (Previous year
Rs.40531.980 Millions) included above, have additional security as first
priority charge over Telecom Licenses also. Vehicle Loans
including current maturities is secured by hypothecation of Vehicles against
which the loans have been taken. b) Repayment
Terms of outstanding long term borrowings (excluding current maturities) as
on March 31, 2012 Repayment Terms for Secured Foreign Currency
Borrowings: Facility 1
(Rs.1541.140 Millions) - Balance amount is repayable in 2 equal annual
installments starting August, 2013 Facility 2 (Rs.316.080 Millions) - Repayable in April, 2013 Facility 3
(Rs.11320.230 Millions) - Tranche 1 -
Balance amount is repayable in 13 equal half yearly installments starting
September, 2013 Tranche 2 -
Balance amount is repayable in 16 equal half yearly installments starting
August, 2013 Facility 4 -
(Rs.3992.350 Millions) - Balance amount is repayable in 17 equal half yearly
installments starting June, 2013 Facility 5
(Rs.8745.940 Millions) - Tranche 1 -
Balance amount is repayable in 14 equal half yearly installments starting
April, 2013 Tranche 2 -
Balance amount is repayable in 2 equal half yearly installments starting
April, 2020 Facility 6
(Rs.6959.750 Millions) - Balance amount is repayable in 17 equal half yearly
installments starting May, 2013 Facility 7
(Rs.897.000 Millions) - Tranche 1 - 19 equal half yearly installments
starting July, 2013 Tranche 2 - 17
equal half yearly installments starting July, 2013 Facility 8
(Rs.4966.900 Millions) - Balance amount is repayable as follows: 1) 9 equal
quarterly installments of 1.25% each of the total drawn amount starting
April, 2013 2) 16 equal
quarterly installments of 4.13% each of the total drawn amount starting July,
2015 3) 4 equal
quarterly installments of 4.75% each of the total drawn amount starting July,
2019 Repayment Terms for Secured INR Borrowings: Facility 1
(Rs.15902.210 Millions) - Balance amount is repayable as follows: 1) 8 equal quarterly
installments of 6.25% each of the total drawn amount starting April, 2013 2) 4 equal
quarterly installments of 5.00% each of the total drawn amount starting
April, 2015 Facility 2
(Rs.16000.00 Millions) - Balance amount is repayable as follows: 1) 8 equal
quarterly installments of Rs.400.000 millions each starting June, 2013 2) 4 equal
quarterly installments of Rs.800.000 millions each starting June, 2015 3) 8 equal
quarterly installments of Rs.1200.000 millions each starting June, 2016 Vehicles Loans are repayable in equal monthly installments over the
term of the loan ranging from 2 to 4 years |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706, B Wing, |
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Tel. No.: |
91-20-66244600 |
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Fax No.: |
91-20-66244605 |
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E-Mail : |
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Promoters : |
·
Hindalco Industries Limited (Hindalco) ·
Grasim Industries Limited (Grasim) ·
Aditya Birla Nuvo Limited (ABNL) ·
Birla TMT Holdings Private Limited (Birla TMT) |
|
|
|
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Subsidiaries : |
·
Idea Telesystems Limited (ITL) (Formerly known as
Swinder Singh Satara and Co. Limited) ·
Aditya Birla Telecom Limited (ABTL) ·
Idea Cellular Services Limited (ICSL) ·
Idea Cellular Infrastructure Services Limited
(ICISL) ·
Idea Cellular Towers Infrastructure Limited
(ICTIL) ·
Idea Mobile Commerce Services Limited (IMCSL) |
|
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Joint Venture : |
·
Indus Towers Limited (Indus) |
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Entities having
significant influence : |
·
TMI Mauritius Limited ·
Axiata Investments 2 (India) Limited (AI2)
(Formerly known as TMI India Limited) ·
Axiata Group Berhad |
CAPITAL STRUCTURE
AS ON 18.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6775000000 |
Equity Shares |
Rs.10/- each |
Rs.67750.000 Millions |
|
1500 |
Redeemable Cumulative Non Convertible Preference Shares |
Rs.10000000/- each |
Rs.15000.000 Millions |
|
|
Total |
|
Rs.82750.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3315571136 |
Equity Shares |
Rs.10/- each |
Rs.33155.711
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6775000000 |
Equity Shares |
Rs.10/- each |
Rs.67750.000 Millions |
|
1500 |
Redeemable Cumulative Non Convertible Preference Shares |
Rs.10000000/- each |
Rs.15000.000 Millions |
|
|
Total |
|
Rs.82750.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3308845110 |
Equity Shares |
Rs.10/- each |
Rs.33088.450
Millions |
|
|
|
|
|
Out of the above,
199153469 Equity Shares are allotted as fully paid up under the Scheme of
amalgamation of Spice Communications Limited without payments being received in
cash
Reconciliation of
the number of Shares outstanding:
|
Particulars |
As at 31st March, 2012 |
|
|
No. of Shares |
Amount (Rs. in
millions) |
|
|
Equity shares outstanding at the beginning of the year |
3303271505 |
33032.720 |
|
Equity shares allotted pursuant to exercise of ESOP |
5573605 |
55.730 |
|
Equity shares outstanding
at the end of the year |
3308845110 |
33088.450 |
Shareholders’ holding more than 5% shares of the Company:
|
Name of
Shareholder |
As at 31st March, 2012 |
|
|
No. of Shares |
%age |
|
|
Equity Shares |
|
|
|
Aditya Birla Nuvo Limited |
837526221 |
25.31 |
|
Birla TMT
Holdings Private Limited |
283565373 |
8.57 |
|
Grasim Industries Limited |
171013894 |
5.17 |
|
Hindalco Industries Limited |
228340226 |
6.90 |
|
P5 Asia
Investments (Mauritius) Limited |
330000000 |
9.97 |
|
Axiata
Investments 2 (India) Limited [Formerly TMI India Limited] |
195427333 |
5.91 |
|
TMI Mauritius Limited |
464734670 |
14.05 |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
33088.450 |
33032.720 |
|
(b) Reserves & Surplus |
|
96256.930 |
90274.300 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
129345.380 |
123307.020 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
86121.560 |
75787.600 |
|
(b) Deferred tax liabilities (Net) |
|
5527.390 |
2870.150 |
|
(c) Other long
term liabilities |
|
4519.080 |
2277.730 |
|
(d) Long-term
provisions |
|
1389.630 |
1230.930 |
|
Total Non-current
Liabilities (3) |
|
97557.660 |
82166.410 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
15260.140 |
16933.760 |
|
(b)
Trade payables |
|
29703.760 |
35725.200 |
|
(c) Other
current liabilities |
|
37910.310 |
28087.470 |
|
(d) Short-term
provisions |
|
63.280 |
60.800 |
|
Total Current
Liabilities (4) |
|
82937.490 |
80807.230 |
|
|
|
|
|
|
TOTAL |
|
309840.530 |
286280.660 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
168938.210 |
142538.670 |
|
(ii)
Intangible Assets |
|
68494.360 |
48777.570 |
|
(iii)
Capital work-in-progress |
|
6332.730 |
35491.860 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
16368.070 |
16368.070 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
25824.030 |
13634.190 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
285957.400 |
256810.360 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
9360.000 |
|
(b)
Inventories |
|
529.390 |
522.160 |
|
(c)
Trade receivables |
|
8075.540 |
5347.490 |
|
(d) Cash
and cash equivalents |
|
1341.900 |
4515.350 |
|
(e)
Short-term loans and advances |
|
13918.620 |
9717.220 |
|
(f)
Other current assets |
|
17.680 |
8.080 |
|
Total
Current Assets |
|
23883.130 |
29470.300 |
|
|
|
|
|
|
TOTAL |
|
309840.530 |
286280.660 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
32998.380 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
85093.260 |
|
|
4] (Accumulated Losses) |
|
|
(3963.740) |
|
|
5] Outstanding Employee Stock Options |
|
|
444.450 |
|
|
NETWORTH |
|
|
114572.350 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
59886.080 |
|
|
2] Unsecured Loans |
|
|
5378.050 |
|
|
TOTAL BORROWING |
|
|
65264.130 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2256.360 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
182092.840 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
149270.590 |
|
|
Capital work-in-progress |
|
|
4625.810 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
27551.260 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
466.990 |
|
|
Sundry Debtors |
|
|
4301.170 |
|
|
Cash & Bank Balances |
|
|
2804.410 |
|
|
Other Current Assets |
|
|
1243.650 |
|
|
Loans & Advances |
|
|
30002.810 |
|
Total
Current Assets |
|
|
38819.030
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
24855.130 |
|
|
Other Current Liabilities |
|
|
11941.100 |
|
|
Provisions |
|
|
1377.620 |
|
Total
Current Liabilities |
|
|
38173.850
|
|
|
Net Current Assets |
|
|
645.180 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
182092.840 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Service Revenue |
192753.180 |
153327.770 |
118502.210 |
|
|
|
Sale of Trading Goods |
0.000 |
0.250 |
0.220 |
|
|
|
Other Income |
470.150 |
561.950 |
801.440 |
|
|
|
TOTAL (A) |
193223.330 |
153889.970 |
119303.870 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Trading Goods Sold |
0.000 |
0.200 |
0.220 |
|
|
|
Personnel Expenditure |
8588.270 |
7288.830 |
5698.860 |
|
|
|
Network Expenses and IT Outsourcing Cost |
56592.560 |
48724.570 |
34394.160 |
|
|
|
License Fees and WPC Charges |
23231.830 |
17728.000 |
12944.790 |
|
|
|
Roaming & Access Charges |
32798.750 |
24754.480 |
17452.900 |
|
|
|
Subscriber Acquisition & Servicing Expenditure |
20540.750 |
16427.530 |
11343.890 |
|
|
|
Advertisement and Business Promotion Expenditure |
4210.760 |
3848.380 |
4066.940 |
|
|
|
Administration & Other Expenses |
4132.040 |
3837.320 |
4456.560 |
|
|
|
Amortisation of Intangible Assets |
5433.160 |
2500.150 |
1845.900 |
|
|
|
Surplus from Prepayment of Loan |
0.000 |
0.000 |
(316.940) |
|
|
|
TOTAL (B) |
155528.120 |
125109.460 |
91887.280 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37695.210 |
28780.510 |
27416.590 |
|
|
|
|
|
|
|
|
|
Less |
FINANCE AND
TREASURY CHARGES (NET) (D) |
9078.040 |
2487.350 |
2063.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28617.170 |
26293.160 |
25353.390 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION (F) |
20194.550 |
17229.950 |
13666.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8422.620 |
9063.210 |
11687.320 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2657.240 |
617.240 |
1150.770 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5765.380 |
8445.970 |
10536.550 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4482.230 |
(3963.740) |
(4052.830) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Accumulated Losses on Amalgamation of Spice Communications Limited |
0.000 |
0.000 |
15463.770 |
|
|
|
Withdrawal from General Reserve) |
0.000 |
0.000 |
(4844.600) |
|
|
|
Deferred tax on Amalgamation of Spice Communications Limited |
0.000 |
0.000 |
(171.710) |
|
|
BALANCE CARRIED
TO THE B/S |
10247.610 |
4482.230 |
(3963.740) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
International roaming services |
701.380 |
811.670 |
712.690 |
|
|
|
Termination / carriage services |
785.420 |
301.580 |
0.000 |
|
|
TOTAL EARNINGS |
1486.800 |
1113.250 |
712.690 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods (including spares) |
11918.680 |
13980.860 |
20252.070 |
|
|
TOTAL IMPORTS |
11918.680 |
13980.860 |
20252.070 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
1.74 |
2.56 |
3.39 |
|
|
|
- Diluted |
1.74 |
2.55 |
3.38 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
54274.400 |
52265.700 |
54674.000 |
59654.600 |
|
Total Expenditure |
41910.800 |
40174.400 |
42028.900 |
45190.100 |
|
PBIDT (Excl OI) |
12363.600 |
12091.300 |
12645.100 |
14464.500 |
|
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
12363.600 |
12091.300 |
12645.100 |
14464.500 |
|
Interest |
2366.700 |
1789.600 |
2049.300 |
1928.900 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
9996.900 |
10301.700 |
10595.800 |
12535.600 |
|
Depreciation |
7283.600 |
7477.700 |
7787.900 |
7994.400 |
|
Profit Before Tax |
2713.300 |
2824.000 |
2807.900 |
4541.200 |
|
Tax |
813.700 |
909.500 |
981.000 |
1999.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1899.600 |
1914.500 |
1826.900 |
2541.600 |
|
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 |
1899.600 |
1914.500 |
1826.900 |
2541.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.98
|
5.49 |
8.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.37
|
5.91 |
9.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.93
|
3.87 |
6.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.07 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.78
|
0.75 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.29
|
0.36 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current
Maturities of Long Term Debt:
|
Particulars |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
Current Maturities of Long Term Debt |
19574.830 |
12853.240 |
NA |
|
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 |
Yes |
|
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 |
No |
|
10) Designation of contact person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans |
|
|
|
Foreign Currency
Loan |
|
|
|
- From Banks |
15245.510 |
9979.930 |
|
Vendor Finance |
0.000 |
6.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Short Term Loan |
|
|
|
- from Banks |
248.190 |
8156.770 |
|
- from Others |
500.000 |
0.000 |
|
Buyers’ Credit in Foreign Currency from Banks |
6446.620 |
3776.990 |
|
Commercial Papers from Banks |
1000.000 |
5000.000 |
|
Total
|
23440.320 |
26919.690 |
Notes:
LONG TERM
BORROWINGS
Repayment Terms
for Unsecured Foreign Currency Borrowings:
Facility 1
(Rs.6762.300 Millions) - 5 years from drawdown date ending October, 4, 2015
Facility 2
(Rs.2370.900 Millions) - Balance amount is repayable as follows:
1) 35% of the
total drawn amount in February, 2014
2) 35% of the
total drawn amount in February, 2015
Facility 3
(Rs.6112.320 Millions) - Balance amount is repayable as follows:
1) 20% in June,
2013
2) 20% in June,
2014
3) 60% in June, 2018
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10427852 |
17/05/2013 * |
5,000,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B76769868 |
|
2 |
10408312 |
15/02/2013 * |
4,000,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B71127054 |
|
3 |
10406050 |
28/01/2013 * |
10,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, |
B69407096 |
|
4 |
10386431 |
18/10/2012 |
582,200,000.00 |
DENA BANK |
DECCAN GYMKHANA
BRANCH, ASHOK CHAMBERS, DECCAN GYMKHANA, PUNE, MAHARASHTRA - 411004, INDIA |
B62063946 |
|
5 |
10364978 |
26/06/2012 * |
14,900,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B44161636 |
|
6 |
10348522 |
18/04/2012 * |
6,559,915,205.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B39388442 |
|
7 |
10324223 |
14/12/2011 * |
7,500,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B28564573 |
|
8 |
10322451 |
24/11/2011 |
500,000,000.00 |
CANARA BANK |
VILE PARLE EAST
BRANCH, 38, BRIJ BHOOMI, NEHRU ROAD, VILE PARLE (EAST), MUMBAI, MAHARASHTRA -
400057, INDIA |
B27582154 |
|
9 |
10321276 |
21/10/2011 |
17,000,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE ACCOUNTS
GROUP, 3RD FLOOR, NEVILLE HOUSE, J.N HARIDIA MARG, BALLARD ESTATE,
MUMBAI, MAHARASHTRA - 400001, INDIA |
B26948315 |
|
10 |
10273224 |
01/03/2011 * |
776,774,400.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B09091000 |
|
11 |
10271760 |
01/03/2011 * |
2,500,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B09091877 |
|
12 |
10270568 |
26/02/2011 * |
3,000,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B08157232 |
|
13 |
10229962 |
30/07/2010 * |
23,000,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92430040 |
|
14 |
10226955 |
01/07/2010 |
7,000,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A88685656 |
|
15 |
10213454 |
30/07/2010 * |
48,000,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92429083 |
|
16 |
10195039 |
30/07/2010 * |
4,090,716,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A93386829 |
|
17 |
10136856 |
19/12/2008 |
500,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE
CORPORATE BRANCH, 4TH FLOOR, 70-80, |
A54338785 |
|
18 |
10114966 |
12/07/2008 |
3,000,000,000.00 |
CANARA BANK
LIMITED |
FORT MAIN
BRANCH, SIR P.M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A42977082 |
|
19 |
10113936 |
30/07/2010 * |
4,234,650,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A94058237 |
|
20 |
10093442 |
10/03/2008 |
1,350,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A34611194 |
|
21 |
10078911 |
22/10/2007 |
300,000,000.00 |
DENA BANK |
DECCAN GYMKHANA
BRANCH, ASHOK CHAMBERS, DECCAN GYMKHANA, PUNE, MAHARASHTRA - 411004, INDIA |
A26320341 |
|
22 |
10074035 |
30/07/2010 * |
32,000,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A91033704 |
|
23 |
10065362 |
08/05/2007 |
1,900,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A18320820 |
|
24 |
10082783 |
08/05/2007 |
1,900,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A18321182 |
|
25 |
10082902 |
08/05/2007 |
1,900,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A18321570 |
|
26 |
10047846 |
09/04/2007 |
1,100,000,000.00 |
UTI BANK LIMITED |
1262/B, STERLING
PLAZA, JANGLI MAHARAJ ROAD, DECCAN GYMKHANA, PUNE, MAHARASHTRA - 411004,
INDIA |
A14304224 |
|
27 |
10028261 |
23/11/2006 |
50,000,000.00 |
DENA BANK |
DECCAN GYMKHANA
BRANCH, PUNE, MAHARASHTRA - 411004, INDIA |
A07685126 |
|
28 |
10028084 |
23/11/2006 |
100,000,000.00 |
DENA BANK |
DECCAN GYMKHANA
BRANCH, PUNE, MAHARASHTRA - 411004 |
A07685449 |
|
29 |
10332478 |
23/11/2006 |
100,000,000.00 |
DENA BANK |
DECCAN GYMKHANA
BRANCH, PUNE, MAHARASHTRA - 411004, INDIA |
A07685787 |
|
30 |
10033606 |
23/11/2006 |
300,000,000.00 |
DENA BANK |
DECCAN GYMKHANA
BRANCH, PUNE, MAHARASHTRA - 411004, INDIA |
A07684533 |
|
31 |
10019909 |
09/05/2007 * |
42,240,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A04933529 |
|
32 |
10020059 |
30/07/2010 * |
42,240,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A93119972 |
|
33 |
10020080 |
09/05/2007 * |
42,240,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A14690747 |
|
34 |
10020296 |
05/04/2007 * |
42,240,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A14239065 |
|
35 |
10008663 |
08/06/2006 |
1,000,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
HEAD OFF: IDBI
TOWER, WTC COMPLEX, WHE PARADE, B |
A01964162 |
|
36 |
80014604 |
22/09/2005 |
1,900,000,000.00 |
IDBI |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
37 |
90039803 |
11/02/2005 |
4,000,000.00 |
PUNJAB NATIONAL
BANK |
MOOLCHAND
COMMERIAL COMPLEX, DEFENCE COLONY, NEW |
- |
|
38 |
90039110 |
28/06/2004 |
1,000,000,000.00 |
INFASTRUCTURE
DEVELOPMENT FINANCE COMPNAY LIMITED |
RAMON HOUSE,
169; BACKBAY RECLAMANATION, MUMBAI, |
- |
|
39 |
90149492 |
20/02/2004 |
3,750,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
227 VINAY K SHAH
MARG NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
40 |
80014941 |
20/02/2004 |
1,700,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH
FLOOR,NARIMAN BHAWAN,227, V K SHAH MARG,NARI |
- |
|
41 |
80014664 |
20/02/2004 |
16,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH FLOOR,
NARIMAN BHAVAN, 227, V.K.SHAH MARG,NA |
- |
|
42 |
80014668 |
20/02/2004 |
16,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH FLR,
NARIMAN BHAVAN, 227, V.K.SHAH MARG,NARI |
- |
|
43 |
80014670 |
20/02/2004 |
16,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH FLR, NARIMAN
BHVAN, 227, V.K.SHAH MARG, NARI |
- |
|
44 |
80014937 |
20/02/2004 |
16,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH FLOOR,
NARIMAN BHAWAN,227,V K SHAH MARG, NAR |
- |
|
45 |
90113214 |
21/02/2004 * |
16,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH FLOOR;
NARIMAN BHAVAN, 227; VINAY K. SHAH MARG; NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
- |
|
46 |
90201940 |
20/02/2004 |
16,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH FLOOR;
NARIMAN BHAWAN, 227; VINAY K. SHAH MARG; NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, I |
- |
|
47 |
90111631 |
28/05/2002 * |
1,250,000,000.00 |
BANK OF
MAHARASHTRA |
1501;
SHIVAJINAGAR, LOKMANGAL, PUNE, MAHARASHTRA |
- |
|
48 |
90111627 |
19/04/2002 * |
5,000,000.00 |
BANK OF
MAHARASHTRA |
1501;
SHIVAJINAGAR, LOKMANGAL, PUNE, MAHARASHTRA |
- |
|
49 |
90037153 |
11/02/2005 * |
3,000,000.00 |
PUNJAB NATIONAL
BANK |
MOOLCHAND
COMMECIAL COMPLEX, DEFENCE COLONY, NEW |
- |
|
50 |
90062395 |
03/12/2001 |
200,000,000.00 |
HDFC BANK
LIMITED |
6TH FLOOR H T
HOUSE, K G MARG, NEW DELHI, DELHI - |
- |
|
51 |
90062332 |
12/09/2001 |
270,000,000.00 |
PUNJAB NATIONAL
BANK |
LARGE CORPORATE
BRANCH, A-9; CANNAUGHT PLACE, NEW |
- |
|
52 |
90062322 |
28/08/2001 |
200,000,000.00 |
UTI BANK LIMITED |
STATESMAN HOUSE 148,
BARAKHAMBA ROAD, NEW DELHI, |
- |
|
53 |
90035520 |
10/12/1999 * |
20,000,000.00 |
CITIBANK |
JEEVAN VIHAR
BUILDING, BAD FORM, NEW DELHI, DELHI |
- |
|
54 |
80020070 |
01/12/1997 |
624,800,000.00 |
BOB SBI SBICIBL
SAKURA BANK LIMITED BRITISH BANK OF MI |
INDUSTRIAL
FINANCE BRANCH, CAWASJI PATEL STREET, |
- |
|
55 |
90034382 |
16/02/2001 * |
1,000,000,000.00 |
CHASE MANATTHAN
BANK |
MARKER CHAMBER VI;
7/F, NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
56 |
90034366 |
16/02/2001 * |
1,000,000,000.00 |
CHASE MANATTHAN
BANK |
MARKER CHAMBER
VI; 7/F, NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
57 |
90034258 |
18/08/1999 * |
1,725,000,000.00 |
THE CHASE
MANHATTAN BANK |
MAFATLAL CENTRE,
9-FLOOR; NARIMAN POINT, MUMBAI, |
- |
* Date of charge modification
OPERATIONS REVIEW
The Company continues
its enviable four year track record of being the fastest growing major Indian
mobile operator in terms of revenue growth. The Company’s revenue market share
increased from 13.3% at the beginning of the calendar year 2011 to 14.4% at the
end of the calendar year 2011.
The Company’s
total subscriber base as on March 31, 2012 stood at 112.7 Mn, an increase of
25.9% over the previous year. On a national basis, the Company’s subscriber
market share stood at 12.3% as of end March, 2012. The subscriber base of the
Company is among the best in terms of percentage of active subscribers to total
subscribers. As on March 31, 2012, the Company had around 93.4% of total
subscribers as active subscribers, which is highest in the Industry.
The Company’s 3G
investment plans are on track with high speed broad band services now available
in more than 3,000 towns and 10,000 villages in 20 service areas (including
those with roaming arrangements), with around 2.6 Mn subscribers actively using
the Company’s 3G platform and enjoying services whose time has come.
The Company’s
total minutes of usage on the network for the financial year 2011-12 crossed
453 billion minutes, strengthening the Company’s position among the top 10
Telecom Operators in the world.
During the financial
year 2011-12, on a standalone basis, the total revenues of the Company were
Rs.193223.000 Millions, representing a growth of 25.6% over the Previous year,
primarily driven by 25% growth in total Minutes of Usage.
The EBITDA also
increased to Rs.43128.000 Millions, a growth of 37.9% compared to the previous
year.
The Profit after
Tax was lower at Rs.5765.000 Millions, a decrease of 31.7% as compared to the
previous year, primarily on account of higher depreciation and amortisation and
interest charges due to 3G investments. As of March 31, 2012, the Company has
accumulated Profits of Rs.10248.000 Millions.
Significant
Developments:
• Supreme Court Judgment on quashing of licenses
granted in January, 2008
The Hon’ble
Supreme Court, on petitions filed by the Centre for Public Interest Litigation
and others, has quashed all the telecom licenses granted by the DoT, to various
Telecom Operators in January, 2008 pursuant to two Press Releases dated January
10, 2008, issued by the DoT. These licenses included seven operating licenses
held by the Company in respect of the Tamilnadu (including Chennai), Kolkata,
West Bengal, Orissa, Assam, North East and Jammu and Kashmir service areas and
two non-operating licenses in respect of Punjab and Karnataka service areas.
Besides, the Company was also holding non-operative telecom licenses for four
service areas granted by the DoT in January, 2008 to erstwhile Spice
Communications Limited (Spice), which has since been merged with the Company.
These four licenses pertained to Andhra Pradesh, Maharashtra, Delhi and Haryana
service areas. The judgment has also cancelled the allocation of startup
spectrum which was earmarked pursuant to grant of these licenses. Through the
said judgment, as modified by a further order dated April 24, 2012, the TRAI
has been directed to make fresh recommendations for grant of licenses and
allocation of spectrum in 2G band by auction, as was done for allocation of
spectrum in 3G band and the DoT has been directed to complete the auction by
August 31, 2012.
The shareholders
may note that the Company is committed to take all necessary steps to safeguard
its interest in the matter. As the impact, if any, on the operations in the
said seven service areas and on the carrying values of these licenses as on
March 31, 2012 amounting to Rs.2,777.8 Millions is dependent upon the steps
that the DoT may take and on the outcome of the auction to be conducted as per
directive of the Hon’ble Supreme Court, operations in these seven service areas
currently continue as usual and accordingly the financial statements include
the operational results of these service areas on a going concern basis.
• 3G Services
The Company during
the period March, 11 to October, 11, launched 3G services in 10 out of the 11 service
areas (except Punjab) where it had won 3G spectrum. The DoT has not allowed
commercial usage of the earmarked 3G spectrum for Punjab service area to the
Company. The Company has also entered into bilateral roaming arrangements with
other leading operators in 10 other service areas except Orissa.
The DoT had, vide
its order dated December 23, 2011, ordered Telecom Operators to stop provision
of services under 3G Intra Circle Roaming Agreements in service areas where it
has not won 3G Spectrum. The Company alongwith other Telecom Operators has
challenged the said order and Hon’ble Telecom Dispute Settlement Appellate
Tribunal (TDSAT) has passed a “no coercive action” order till the time the
dispute is decided. The final hearing in the matter has concluded and judgement
is reserved.
• Merger of Spice Communications Limited
The Hon’ble High
Court of Delhi vide its order dated July 04, 2011, pursuant to an application
filed by the DoT, while re-affirmed the amalgamation of erstwhile Spice
Communications Limited (Spice) with the Company, has transferred unto DoT,
inter alia, the operating licenses held by erstwhile Spice in respect of Punjab
and Karnataka service areas. The Company has challenged the said order before
appellate bench of the Hon’ble Delhi High Court, which through interim orders
has directed DoT to continue to accept the payment of the License Fee from the
Company as was being done before the said order dated July 04, 2011 and has
directed DoT not to enforce any demand in respect of non-operative licenses.
Meanwhile the hearing in the said matter is complete and judgment reserved.
• Notices from DoT for alleged violation of terms
and conditions of License Agreement
Due to the DoT’s
alleged contention that the acquisition of erstwhile Spice Communications
Limited and its subsequent amalgamation violates certain license
conditions/guidelines, the Company had received various Show Cause/Demand
Notices from the DoT in respect of the operational and nonoperational licenses
and also on certain other alleged violations of license agreement. The Company
is contesting the same before the Hon’ble TDSAT.
• 3G Spectrum for Punjab Service Area
The DoT, though,
has earmarked the 3G spectrum in respect of Punjab service area, which was won
by the Company in the 3G spectrum auction conducted by DoT in May, 2010, has
not yet allowed commercial use of the same to the Company, due to, inter alia,
alleged violation of certain license conditions.
The Company had
approached the Hon’ble TDSAT and filed a Petition for necessary direction to
the DoT to allow the commercial usage of allocated 3G Spectrum for Punjab
service area. The TDSAT has dismissed the said petition in view of order passed
by Delhi High Court in July, 2011 concerning amalgamation of erstwhile Spice
Communications Limited with the Company, which was holding the operative 2G
license in respect of Punjab service area. The Company has since filed an
appeal against the order of TDSAT in the Supreme Court, where the matter remains
sub judice.
Awards and Recognitions
The Company’s
brand initiatives have been recognized and appreciated across forums, and they
have won many awards, both nationally and internationally.
• Idea won
prestigious Gold EFFIE for ‘no idea–get Idea’ (number portability) campaign and
Silver EFFIE for ‘Break the Language Barrier’ campaign.
• ‘No Idea–Get
Idea’ and ‘Break the Language Barrier’ campaigns transcended national
boundaries to be ranked
globally as the
Best Brand Campaign, 2011 by World Communication Awards, London.
• The “Most
Trusted Brands Survey” by Brand Equity ranked Idea as 28th amongst all Products
and Services Brands climbing 117 ranks over last year. The same survey ranked
Idea 4th amongst all Service Brands.
• In radio, Idea
won 6 awards at the Golden Mikes Awards 2011 and was adjudged the ‘Advertiser
of the Year’.
• Idea won a
number of awards for interesting and innovative work on the Digital medium:
- A Gold at The
Yahoo Big Chair.
- At the WAT
Awards: Silver for Social Media Campaign of the Year and Digital Media Campaign
of the Year.
- At exchange
4media Indian Digital Media Awards (IDMA): A Silver for the Best Video Creative
made for Internet/Mobile Media
New Initiatives
During the year,
the Company made extensive progress on the marketing and customer care front by
entering into various alliances, introducing various innovative products and
services. Some of these are -
• The Company
launched some interesting enterprise solutions for large scale businesses. One
such significantly big solution is the first of its kind IVR based LPG gas
booking for IOCL and HPCL across 15 circles which is touching lives of about 30
million IOCL/HPCL consumers and generates about 20 million gas refills every month.
The product has enabled customers to book their gas cylinder by dialing an IVR
number on a 24x7 basis and to receive SMS confirmations for the booking and the
dispatch.
• The Company’s
large array of Value Added Services has added many more innovative and customer
friendly services. One such significant one is Text Subscription services in 9
vernacular/local languages which has significant relevance for the non-metro
and rural customers.
• The Company also
introduced the ‘Complaint Availability Status’ on web for its prepaid and
postpaid customers, wherein customers can avail the status of their complaint,
by simply logging on to the Idea web portal.
• The Company
launched a unique first of its kind loyalty program that rewards customers with
free instant talk time.
• To facilitate
higher adoption of 3G services by customers and to provide better face-to-face
interaction, 3G Experience Zones have been established at the Service Centers
across various cities. The 3G Experience Zones are managed by trained Data
Specialists equipped with TV’s, Netbook’s, 3G compatible handset’s, NetSetter’s
and device simulators for demonstration and query handling.
• Idea’s continued
focus on communicating 3G through its blockbuster media campaigns have resulted
in Idea having the strongest brand association with ‘3G’
• Idea
strengthened its brand through number of high impact media properties like Kaun
Banega Crorepati, Idea Filmfare Awards, Citizen Journalist Awards, in addition
to several regional media properties. The brand continues its association with
the Delhi Daredevils team in IPL 5.
SUBSIDIARIES AND JOINT VENTURES
The Company has
the following subsidiaries and joint ventures:
Subsidiaries
• Aditya Birla
Telecom Limited, holds 16% shareholding in Indus Towers Limited and 100%
shareholding in Idea
Cellular Towers
Infrastructure Limited and is engaged in the trading of communication devices.
• Idea Cellular
Services Limited, provides manpower services to the Company.
• Idea Cellular
Infrastructure Services Limited, is a tower company owning towers in Bihar and
Orissa service areas and provides passive infrastructure services in these
service areas.
• Idea Cellular
Towers Infrastructure Limited (ICTIL), holds towers de-merged from the Company.
ICTIL has filed a scheme of arrangement in the Hon’ble High Court of Delhi
which provides for its merger into Indus Towers Limited.
• Idea Mobile
Commerce Services Limited, is engaged in the business of Mobile Banking.
• Idea Telesystems
Limited (formerly Swinder Singh Satara and Company Limited), is engaged in the
trading of communication devices.
In terms of
general exemption granted by the Ministry of Corporate Affairs, Government of
India, vide its Circular No.2/2011 dated February 8, 2011, and in compliance
with the conditions enlisted therein, the reports and annual accounts of the
subsidiary companies for the financial year ended March 31, 2012 have not been
attached to the Company’s Accounts.
The annual
accounts and other related information of the Subsidiary Companies shall be
available for inspection during business hours by the members at the Registered
Office of the Company. The copies of these documents will also be made
available to the members upon request.
Joint Ventures
Indus Towers Limited,
in which Aditya Birla Telecom Limited (ABTL) holds a 16% stake, is a joint
venture with the Bharti Infratel and Vodafone Essar and provides passive
infrastructure services in 15 service areas.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
Indian Wireless Sector
The Indian
wireless sector, which actively participated in the economic growth of the
country and still contributes to a large part of the GDP, directly and
indirectly, is currently suffering through a phase of uncertain regulatory environment
following the cancellation of licenses by the Hon’ble Supreme Court in
February, 2012. The recommendations by the regulator towards spectrum auctions,
pricing and re-farming in April, 2012, has fueled the already existing
uncertainty. These recommendations have been viewed negatively by most of the
Industry players.
The phenomenon of
savage price cuts seen in earlier years, got arrested in financial year 2012,
giving a sigh of relief in terms of un-sustainability of these low tariffs to
yield reasonable return on investments. However, during the last quarter of the
year, the tariff based competition aggravated again, leading to decrease in
realized rate after almost nine months of marginally improved realization.
India, the second
largest wireless market in the world by subscribers continued to see strong
subscriber additions during the year. With more than 107 Mn subscribers joining
the wireless network, the total subscriber base has reached 919.2 Mn as on
March 31, 2012, reflecting a tele-density of 76%. Though the rural tele-density
still remains at only 38.3% compared to urban tele-density of 162.8%, on an
incremental basis, more than 46% subscribers are joining the wireless network
from the rural parts of the country.
The 3G services
were launched in India at the end of last financial year. This provides
significant data opportunity to the quality 3G operators as the broadband
penetration in India stands at only 1.1%.
Mobile Business
The Company is a
pan India operator providing mobile services in all 22 service areas of the
Country. The Company reviews its mobile business segregated into 13 Established
Service Areas and 9 New Service Areas. The Established Service Areas have
evolved with time in terms of profitability and contribute over 89% of the
Company’s mobile revenues and where the focus is to further consolidate the
leadership position. The New Service Areas launched in FY09 and FY10 are
gestating in terms of profitability and are being pursued with a calibrated
approach towards expanding network footprint.
Long Distance and Other Services
The Company holds
licenses for NLD, ILD, ISP and IP-1 services. The Company has pan India
coverage, with around 65,000 km of own built fibre cable transmission network
and additional IRU arrangement with other telecom operators. The Company is
also expanding OFC PoPs and presently has over 1,700 PoPs in 128 cities and
linked highways. The fibre network of the Company optimally serves Company’s
2G/ 3G/ NLD/ ILD/ ISP/Wireless Broadband needs. Company’s NLD and ILD network
currently carries over 93% of captive NLD and
ILD outgoing
minutes, the capacity of which is further being expanded.
Telecom Infrastructure
As on March 31,
2012, the Company has a network of 83,190 2G sites of which 9,522 2G cell sites
have been added during the year. Further the company has expanded its 3G
network to 12,825 cell sites. The Company and its subsidiaries own 9,240 towers
with a tenancy of over 1.55 and additionally 11,094 towers are under IRU
arrangement with Indus.
Launch of 3G services
The Company, in
2010, won spectrum in 2100 MHz band in 11 service areas. Idea has launched 3G
services in all these service areas (except Punjab) and has entered into
roaming arrangement with other operators to provide 3G services in remaining
service areas (except Orissa). At the end of FY12, Idea 3G services are
available in more than 3,000 towns and 10,000 villages, in 20 service areas.
Idea’s 3G
services, considered to be one of the best, connect to the world of faster
internet with the speed of upto 21 Mbps, video calling and conferencing on the
handset, Mobile TV, Idea Mall applications store, besides being capable of many
other futuristic services.
Idea has
introduced a choice of affordable data billing option for Pre-paid and
Post-paid subscribers, including time based billing plans for 3G services,
enabling users to avail high end data services without worrying about the
volume of usage. Idea is the first company to introduce the sachet pricing at
as low as Rs.8 for trial purpose and attractive ‘Gigabyte’ bundles, targeted
towards medium to heavy users.
With launch of 3G
services and improvement in 3G ecosystem in terms of devices, applications and
contents, the Company is all set to exploit the untapped wireless broadband
data market and other emerging verticals of revenue like Mobile banking,
M-commerce, M-health, M-education etc.
Revenue Market Share
The strategy to
remain focused on improving the Revenue Market Share (RMS) has enabled the
Company to consolidate its 3rd ranked position with an increase of revenue
market share from 13.3% at beginning of calendar year 2011 to 14.4% at the end
of calendar year 2011.
Quality Subscriber Base
As at end March,
2012, the Company’s subscriber base stands at 112.7 Mn as compared to 89.5 Mn
last year, an increase of 25.9%. Idea has always been stringent in monitoring
the quality of its subscriber base. As per data released by TRAI for the month
of March, 2012, the Company leads the industry with 93.4% of reported
subscribers as VLR subscribers. The VLR EoP subscriber market share for the
Company stands at 15.5% in March, 2012 compared to a reported subscriber market
share of 12.3%, reflecting the true competitive strength of the Company.
Mobile Number Portability
The subscribers
who opted for the Mobile Number Portability (MNP), a facility which allows
customers to change their operator while retaining their mobile number, are not
very large in numbers. However, the trends emerging from MNP are clearly
distinguishing the strong operators and weak operators. With the net gain of
2.9 Mn subscribers since the launch of MNP and the lowest port-out ratio of 62
subscribers against every 100 port-in subscribers, Idea leads the Industry. The
MNP leadership reflects customers’ preference for better quality of services
and perception of brand value.
Idea’s success on
MNP front clearly shows the strength of Company’s seamless network coverage,
low call drop rate, better voice quality, advanced and precise billing systems,
customer oriented call centers and innovative/competitive product offerings.
Non Voice Revenue
For Indian telecom
operators, revenue contribution by VAS is around 15-20%, which is much lower
than their counterparts in other economies. In the absence of mass scale wired
broadband, Idea believes there is a significant potential for the growth in the
data segment.
Idea VAS strategy
is to offer rich and high quality content around music, bollywood, cricket and
other mass appeal products to over 112.7 Mn mobile users.
Power Brand
Idea is envisioned
as a ‘Champion’ brand, driven by a cause. Their mission is to shift paradigms,
making mobile telephony a way of life. To be a leader in the fast changing
telecom industry, it is important to be ahead of the times. Idea represents
innovation and vitality, is imaginative and future ready. Idea strives to build
preference for the brand through its services.
Idea’s
communication has been about simple ideas that have the potential to change the
life. It paints a picture of possibilities that lift mobile telephony from just
communication to being an enabler of positive change in the lives of millions.
They have creatively used the role mobile services is playing in uniting the
country and providing innovative suggestions to long standing societal issues.
The brand communication is designed to be perceived as humane, caring, warm and
friendly.
This framework has
led to the creation of some very noticeable and memorable advertising like the
Caste War, Education for all, Use Mobile Save Paper, Break the Language Barrier
and Population (India busy on Idea 3G), which have not only won many awards but
also millions of hearts.
This year, the
launch of Idea 3G Smartfones was supported with the “Old Idea – New Idea”
campaign. It demonstrated, in an interesting way, how ‘digital lifestyle’ is
changing their behavior, challenging their beliefs and enabling them to live
more fulfilling lives through applications on Smartfones. The “Fear” film in
the same series was a gripping thriller. It challenged people to overcome fear
and fight for justice in a smart way using Idea 3G Smartfone with social
networking applications like YouTube, facebook and twitter.
Idea is the fastest
growing leading telecom operator in the world’s fastest growing telecom market.
It’s brand building efforts have been recognized in various forums, both
national as well as international.
Global Scale of Operation at World’s Lowest Pricing
Points
The Company
carried 453 billion minutes on its network during FY12, placing it amongst the
top 10 operators in the world in terms of voice minutes.
A more rational
competition during the year has resulted in improvement of ARPM from 40.6p in
Q4FY11 to 42.2p in Q4FY12. However, even though there is marginal improvement
in the realisation rate, it still remains amongst the lowest across the globe.
The inflationary pressure coupled with the increased roaming and access charges
resulted in per minute cost to rise to 33.8p in Q4FY12 compared to 32.6p in
Q4FY11.
New Initiatives in Subsidiaries
Launch of Idea
Smartphones In an effort to accelerate the adoption of 3G services, Idea
Telesystems Limited launched Idea smartphones at attractive price points
enabling the subscribers to experience and exploit the world of such services.
Mobile Banking
Idea Mobile
Commerce Services Limited (IMCSL), provides Mobile Banking services through an
alliance with Axis Bank with a facility titled ‘Idea MyCash’ which provides basic
banking services including money transfer using the mobile platform. This is a
mobile based financial inclusion initiative, which besides providing basic
banking services to the unbanked, like cash deposit, cash withdrawal and
balance enquiry, will also enable money transfer, to the migrant population in
urban areas for remitting their funds to the beneficiaries back home.
RBI has recently
increased the limit for the transaction for the Semi Closed Prepaid Instruments
from Rs.10,000 to Rs.50,000 and has also permitted money transfer from peer to
peer and back to his bank account. IMCSL is exploring this business
opportunity.
OUTLOOK
The sector
continues to offer opportunities, both in voice and data, to the quality
operators in the long run. However, some of the recent regulatory developments
are impacting most of the operators, negatively, though the final outcome of
these developments is yet to be decided by the Government/DoT. In terms of
operational performance, Idea has cemented its position in the leadership
circles, maintained the quality of subscribers, expanded reach to new
geographies, launched 3G services, enhanced the power of brand, and more
importantly, improved the position in its non-leadership circles. These factors
clearly position Idea as one of the strongest operator in the sector.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Income Tax matters not acknowledged as debts (Note i) |
1332.160 |
765.090 |
|
Sales Tax matters not acknowledged as debts (Note ii) |
2757.840 |
3124.010 |
|
Service Tax matters not acknowledged as debts (Note iii) |
4241.740 |
3906.720 |
|
Entry Tax and Customs matters not acknowledged as debts (Note iv) |
390.190 |
353.910 |
|
Licensing Disputes (Note v) |
4760.080 |
5038.580 |
|
Other claims not acknowledged as debts (Note vi) |
2011.540 |
1388.030 |
(i) Income Tax
Matters:
The appeals which
are pending before various Appellate Authorities include mainly, the appeals filed
by the Company against the demands raised by various Income Tax Authorities on
account of non deduction of tax on discount allowed to prepaid distributors,
non deduction of tax on roaming charges etc.
(ii) Sales Tax:
The Sales Tax demands
as at March 31, 2012 mainly relate to the demands raised by the VAT/Sales Tax
authorities of few states on Broadband Connectivity, SIM cards etc. on which
the Company has already paid Service Tax.
(iii) Service Tax:
The Service Tax
demands as at March 31, 2012 mainly relate to the following matters:
• Interpretation
issues arising out of Rule 6(3) of the Cenvat Credit Rules, 2004;
• Denial of Cenvat
credit related to Towers, Shelters and OFC ducts.
• Disallowance of
Cenvat Credit on input services viewed as not related to output service.
(iv) Entry Tax:
In certain states,
Entry Tax is being demanded on receipt of material from outside the state.
However, the Company has challenged the constitutional validity of the levy.
(v) Licensing
Disputes:
Disputes relating
to alleged non compliance of licensing conditions and other disputes with DoT,
either filed by or against the Company and pending before Hon'ble Supreme
Court/TDSAT.
(vi) Other claims
not acknowledged as debts:
Mainly include miscellaneous disputed matters with Local Municipal
Corporation, Electricity Board and others.
AUDITED
FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2013
Part I
(Rs. in millions, except per share
data)
|
Particulars |
Quarter ended |
Year ended |
|
|
31.03.2013 Audited |
31.12.2012 Unaudited |
31.03.2013 Audited |
|
|
Net Sales / Income from Operations |
59334.500 |
54616.800 |
220434.300 |
|
Other Operating Income |
320.100 |
57.200 |
434.400 |
|
TOTAL REVENUE |
59654.600 |
54674.000 |
220868.700 |
|
|
|
|
|
|
Personnel Expenditure |
2624.800 |
2426.800 |
10038.300 |
|
Network Expenses & IT Outsourcing Cost |
16449.400 |
16096.100 |
63552.000 |
|
Licence & WPC Charges |
7190.900 |
5897.200 |
24752.500 |
|
Roaming & Access Charges |
10769.700 |
10182.500 |
40145.300 |
|
Subscriber Acquisition & Servicing
Expenditure & Advertisement and Business Promotion Expenditure |
6743.700 |
6132.800 |
25859.900 |
|
Depreciation & Amortisation |
7994.400 |
7787.900 |
30543.600 |
|
Other Expenditure |
1411.600 |
1293.500 |
4956.200 |
|
TOTAL EXPENDITURE |
53184.500 |
49816.800 |
199847.800 |
|
PROFIT FROM OPERATIONS BEFORE OTHER INCOME,
FINANCE CHARGES AND TAX |
6470.100 |
4857.200 |
21020.900 |
|
Other Income |
-- |
-- |
-- |
|
PROFIT BEFORE FINANCE CHARGES AND TAX |
6470.100 |
4857.200 |
21020.900 |
|
Finance and Treasury Charges (Net) |
1928.900 |
2049.300 |
8134.500 |
|
PROFIT BEFORE TAX |
4541.200 |
2807.900 |
12886.400 |
|
Provision for Taxation (Net of MAT credit) |
1999.600 |
981.000 |
4703.800 |
|
NET PROFIT AFTER TAX |
2541.600 |
1826.900 |
8182.600 |
|
Paid up Equity Share Capital (Face value Rs.10 per share) |
33143.200 |
33119.100 |
33143.200 |
|
Reserves excluding Revaluation Reserve |
-- |
-- |
107055.800 |
|
Earnings Per Share for the period (Rs.) - Basic - Diluted |
0.77 0.77 |
0.55 0.55 |
2.47 2.47 |
Debt Service Coverage Ratio (DSCR) * 1.60
Interest Service Coverage Ratio (ISCR) ** 5.48
* DSCR=Profit after Tax + Depreciation and
Amortisation + Gross Finance Costs/(Gross Finance Costs+scheduled long term
principal repayments excluding prepayments)
** ISCR=Profit after Tax + Depreciation and
Amortisation + Gross Finance Costs/(Gross Finance Costs)
Part II - Select Information for the quarter
and year ended 31st March, 2013
|
Particulars |
Quarter ended |
Year ended |
|
|
31.03.2013 Audited |
31.12.2012 Unaudited |
31.03.2013 Audited |
|
|
A. Particulars of Share Holding |
|
|
|
|
1.
Public Shareholding |
|
|
|
|
- Number
of Shares |
1,793,642,719 |
1,791,229,773 |
1,793,642,719 |
|
- Percentage
of Shareholdings |
54.12% |
54.08% |
54.12% |
|
2.
Promoters and promoter group shareholding a) Pledged/Encumbered |
|
|
|
|
- No.
of shares |
-- |
-- |
-- |
|
- Percentage
of shares (as a % of the total shareholding of promoter and promoter group) |
0.00% |
0.00% |
0.00% |
|
- Percentage
of shares (as a % of the total share capital of the Company) |
0.00% |
0.00% |
0.00% |
|
b) Non-encumbered |
|
|
|
|
- No.
of shares |
1,520,679,047 |
1,520,679,047 |
1,520,679,047 |
|
- Percentage
of shares (as a % of the total shareholding of promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
- Percentage
of shares (as a % of the total share capital of the Company) |
45.88% |
45.92% |
45.88%0 |
|
B. Investor Complaints |
Quarter Ended 31.03.2013 |
|
Pending at the beginning of the quarter |
0 |
|
Received during the quarter |
24 |
|
Disposed off during the quarter |
24 |
|
Remaining unresolved at the end of the
quarter |
0 |
Segmental Reporting
(Rs. in millions)
|
Particulars |
Quarter ended |
Year ended |
|
|
31.03.2013 Audited |
31.12.2012 Unaudited |
31.03.2013 Audited |
|
|
Segment
Revenue |
|
|
|
|
Net Sales / Income from
each segment |
|
|
|
|
Mobility |
58830.700 |
54079.000 |
218814.800 |
|
International Long Distance |
1095.200 |
1137.600 |
3830.800 |
|
Total |
59925.900 |
55216.600 |
222645.600 |
|
Less: Inter
Segment Eliminations |
(591.400) |
(599.800) |
(2211.300) |
|
Net sales / Income from operations |
59334.500 |
54616.800 |
220434.300 |
|
|
|
|
|
|
Segment Results |
|
|
|
|
Profit before Finance Charges and Tax from each segment |
|
|
|
|
Mobility |
6381.900 |
4737.600 |
20655.400 |
|
International
Long Distance |
88.200 |
119.600 |
365.500 |
|
Profit before Finance Charges and Tax |
6470.100 |
4857.200 |
21020.900 |
|
Less:
Finance & Treasury Charges (Net) |
1928.900 |
2049.300 |
8134.500 |
|
Profit before tax |
4541.200 |
2807.900 |
12886.400 |
|
Capital Employed (Segment assets - Segment
liabilities) |
|
|
|
|
Mobility |
237329.400 |
233272.600 |
237329.400 |
|
International
Long Distance |
260.400 |
177.400 |
260.400 |
|
Unallocated |
42321.800 |
50839.700 |
42321.800 |
|
Total |
279911.600 |
284289.700 |
279911.600 |
Notes
1. The above audited
financial results, as reviewed by the Audit Committee of the Board, were
approved and taken on record by the Board of Directors at their meeting held on
25th April 2013.
2. The financial results for
the quarter ended 31st March 2013 and 31st March 2012 are
balancing figures between audited results for the full financial year and the
published year to date figures upto the third quarter of the respective
financial years.
3. Subsequent to the company
winning back spectrum in the auction of 1800 Mhz spectrum held in November 2012
for its seven service areas affected as per Hon'ble Supreme Court's order dated
2nd February 2012, DoT has issued LOI's earmarking the spectrum won in
these seven service areas and award of unified licenses. The Company has
applied to DoT for the issue of new licenses in these seven service areas and
paid the license fee on the basis of LOI's. Pending conversion of LOI's into
unified licenses, the ongoing operations continue in these service areas. The
amount paid / payable towards Spectrum and LOI's has been capitalised in the
books from the effective date.
4. On 8th January
2013, DoT issued demand notices towards one time spectrum charges
-
for
spectrum beyond 6.2 Mhz in respective service areas for retrospective period
from 1st July 2008 to 31st December 2012, amounting to
Rs.3691.300 millions, and
-
for
spectrum beyond 4.4 Mhz in respective service areas effective 1st
January 2013 till expiry of the period as per respective licenses amounting to
Rs.17443.700 millions.
In the opinion of Company, inter-alia, the
above demand amounts to alteration of financial terms of the licenses issued in
the past. The Company therefore, petitioned the Hon'ble High Court of Bombay,
which directed DoT to respond and not to take any coercive action until next
date of hearing, which is scheduled for 6th May 2013.
5. In the matter of transfer
of licenses pursuant to amalgamation of erstwhile Spice Communications Limited
(Spice) with the Company, the division bench of Hon'ble High Court of Delhi,
vide its order passed on 17th October, 2012 had given further time
to the DoT till 11th November 2012 to take final decision of
transfer of licenses. Thereafter, DoT again filed another application, to
further extend the period by three months. The said application of DoT was
disposed off by Hon'ble Delhi High Court vide order dated 11th
December 2012, wherein DoT was directed to convey the final decision by 5th
January 2013. The final decision of the DoT in the matter is awaited.
6. Statement
of Assets and Liabilities:-
(Rs. in millions)
|
Particulars |
As at 31.03.2013 |
|
Audited |
|
|
A.
EQUITY AND LIABILITIES |
|
|
1
Shareholders' funds |
|
|
(a) Share Capital |
33143.200 |
|
(b) Reserves and Surplus |
107055.800 |
|
Sub-total
Shareholders' funds |
140199.000 |
|
2
Non-current liabilities |
|
|
(a) Long-term borrowings |
105744.000 |
|
(b) Deferred tax liabilities (net) |
10231.200 |
|
(c) Other long-term liabilities |
8266.400 |
|
(d) Long-term provisions |
2018.900 |
|
Sub-total
non-current liabilities |
126260.500 |
|
3
Current liabilities |
|
|
(a) Short-term borrowings |
7050.400 |
|
(b) Trade Payables |
24315.800 |
|
(c) Other current liabilities |
45201.100 |
|
(d) Short-term provisions |
1239.700 |
|
Sub-total
current liabilities |
77807.000 |
|
TOTAL -
EQUITY AND LIABILITIES |
344266.500 |
|
B. ASSETS |
|
|
1
Non-current assets |
|
|
(a) Fixed assets |
267819.700 |
|
(b) Non-current Investments |
16377.100 |
|
(c) Long-term loans and advances |
30018.700 |
|
Sub-total
non-current assets |
314215.500 |
|
2
Current assets |
|
|
(a) Current investments |
9296.000 |
|
(b) Inventories |
545.100 |
|
(c) Trade receivables |
9156.800 |
|
(d) Cash and cash equivalents |
1157.400 |
|
(e) Short-term loans and advances |
9887.300 |
|
(f) Other current assets |
8.400 |
|
Sub-total
current assets |
30051.000 |
|
TOTAL
-ASSETS |
344266.500 |
7. The Board of Directors has
recommended a dividend at the rate of Rs.0.30 per share of face value of
Rs.10/-aggregating Rs.1163.300 millions (including Rs.169.000 millions Dividend
Distribution Tax) for the year ended 31st March 2013. The payment of
dividend is subject to the approval of the shareholders at the ensuing annual
general meeting of the Company.
8. Previous period's figures
have been regrouped and rearranged wherever necessary
FIXED ASSETS:
Tangible
Assets
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Vehicles
Intangible
Assets
·
Entry/License Fees
·
Computer - Software
·
Bandwidth
WEBSITE DETAILS:
NEWS:
IDEA CELLULAR ORDERED TO PAY COMPENSATION TO
CUSTOMER
Published on: 7th July 2013
India's Idea Cellular
has been ordered to pay Rs.0.040 million (US$650) compensation to a customer
after it switched her phone number to another customer without warning.
In a complaint
with a consumer forum, Delhi resident Preeti Singhla said that she had a
memorable phone number allocated to her in 2008, but this suddenly stopped
working in 2009 when Idea was alleged to have offered to switch it to another
customer.
There was also
some concern at how fast Idea released the allegedly discontinued phone number
to another customer.
Idea claimed that
they had been unable to verify the customer's details after the account had
been opened, and eventually closed the line.
The East District
Consumer Disputes Redressal Forum rejected that claim as it had proof that bills
had been sent to her home, and been paid.
IDEA CELLULAR -
UPDATES ON SCHEME OF ARRANGEMENT
13th June,
2013
Idea Cellular Limited has informed BSE that the Hon'ble High Court of Delhi vide its order dated April 18, 2013 has sanctioned a Scheme of Arrangement, inter-alia, for merger of ''Idea Cellular Towers Infrastructure Limited'' (a wholly owned subsidiary of the Company) with Indus Towers Limited. The said merger has become effective from June 11, 2013.
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
69 |
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.