MIRA INFORM REPORT
|
Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
VODAFONE SOUTH LIMITED [w.e.f.13.10.2011] |
|
|
|
|
Formerly Known
As : |
VODAFONE ESSAR SOUTH LIMITED [w.e.f.04.07.2007] HUTCHISON ESSAR SOUTH LIMITED |
|
|
|
|
Registered
Office : |
C-48, Okhla Industrial Area, Phase II, New Delhi - 110020 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.12.1995 |
|
|
|
|
Com. Reg. No.: |
55-074451 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 7016.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PLC074451 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH05216B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB5847L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Mobile Telecommunication Services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 81300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject belongs to “Vodafone Group Plc”. It is a well established company having a good track record. The
company has recorded better growth in its sales during 2012. Financial strength of the company is strong. Liquidity position is
good. 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 for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Term Loan : (CRISIL) AA |
|
Rating Explanation |
Having high degree of safety regarding timely
servicing of financial obligation it carry very low credit risk. |
|
Date |
September 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
C-48, Okhla Industrial Area, Phase II, New Delhi - 110020, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Sunil Sood |
|
Designation : |
Managing director |
|
Address : |
Flat No. 2401/2402, Petit Towers, August Kranti Marg, Kemps Corner, Mumbai-400036,
Maharashtra, India |
|
Date of Birth/Age : |
09.02.1961 |
|
Date of Appointment : |
09.07.2010 |
|
DIN No.: |
03132202 |
|
|
|
|
Name : |
Mr. Suresh Bagrodia |
|
Designation : |
Director |
|
Address : |
Flat No. 601/2, Green Acres, Building No.
1B, Lokhandwala Complex, Andheri [West], Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
21.08.1967 |
|
Date of Appointment : |
16.02.2012 |
|
DIN No.: |
05201062 |
|
|
|
|
Name : |
Mr. Sanjoy Subhod Mukherjee |
|
Designation : |
Director |
|
Address : |
B-1, Maharani Bagh, New Delhi – 110065,
India |
|
Date of Birth/Age : |
07.11.1963 |
|
Date of Appointment : |
25.06.2012 |
|
DIN No.: |
03122800 |
|
|
|
|
Name : |
Mr. Bhuvanesh Pratap Singh |
|
Designation : |
Director |
|
Address : |
Flat No. 904, Olympus II, Prestige Acropolis
No. 20, House Road, Bangalore – 560029, Karnataka, India |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
25.06.2012 |
|
DIN No.: |
05307640 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Goel |
|
Designation : |
Secretary |
|
Address : |
No. D-408, Olive Block, Raheja Residency, 3rd Block,
Koramangala, Bangalore-560034, Karnataka, India |
|
Date of Birth/Age : |
18.06.1970 |
|
Qualification : |
I.C.W.A./C.
A./Company Secretary/B. Com. |
|
Experience : |
17 year(s) and 1
month( |
|
Date of Appointment : |
09.02.2010 |
|
PAN No.: |
AAEPG2140H |
|
|
|
|
Name : |
Raman Kumar |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Subrat Padhi |
|
Designation : |
Chief Operating
Officer |
|
|
|
|
Name : |
Vivek Jhamb |
|
Designation : |
CEO – Carrier
Business |
|
|
|
|
Name : |
Apoorva Mehrotra |
|
Designation : |
Business Head -
Karnataka Circle |
|
|
|
|
Name : |
B. M. Kamath |
|
Designation : |
Vice President -
Network Ops |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Central Depository Services (India) Limited - Beneficiary - Vodafone
India Limited, India |
|
264,407,500 |
|
Vodafone Mobile Services Limited, India |
|
274,199,992 |
|
Vodafone Mobile Services Limited, India |
|
999,998 |
|
Vodafone Mobile Services Limited, India |
|
4 |
|
Vodafone Spacetel Limited Jointly with Vodafone Mobile Services
Limited, India |
|
2 |
|
Vodafone Cellular Limited Jointly With Vodafone Mobile Services
Limited, India |
|
1 |
|
Vodafone East Limited Jointly with Vodafone Mobile Services Limited,
India |
|
1 |
|
Vodafone Digilink Limited Jointly with Vodafone Mobile Services
Limited, India |
|
1 |
|
Vodafone West Limited Jointly with Vodafone Mobile Services Limited,
India |
|
1 |
|
|
|
|
|
Total |
|
539,607,500 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Vodafone Mobile Services Limited, India |
|
200,000 |
|
|
|
|
|
Total |
|
200,000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Vodafone West Limited, India |
|
1,600 |
|
|
|
|
|
Total |
|
1,600 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Mobile Telecommunication Services. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
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|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
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|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered Accountants |
|
Address : |
12, Dr Annie
Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Holding Company : |
Ř Vodafone India
Limited [U32200MH1992PLC119108] Ř Vodafone Mobile
Services Limited [U64202DL1992PLC088087] |
|
|
|
|
Ultimate Holding
Company : |
Vodafone Group Plc. # |
|
|
|
|
Intermediate
Holding Company : |
Vodafone International Holdings B.V. # |
|
|
|
|
Fellow
Subsidiary Company : |
Ř Vodafone East
Limited [U32204WB1992PLC079998] Ř Vodafone
Digilink Limited [U64201DL1997PLC088088] Ř Vodafone
Cellular Limited [U64202TZ1995PLC007674] Ř Vodafone
Overseas Finance Limited Ř Vodafone
Spacetel Limited [U72200DL1997PLC085764] Ř Vodafone West
Limited [U32100GJ1995PLC035282] Ř Vodafone
Infrastructure Limited [U51101DL2007PLC180238] Ř Vodafone Ireland
Marketing Limited Ř Vodafone
Investments Luxembourg S.a.r.l. Ř Connect (India)
Mobile Techologies Private Limited (w.e.fFebruary 24, 2012) Ř Vodafone Shared
Services Limited Ř Mobile Commerce
Solutions Limited Ř Vodafone Group
Services Limited Ř Vodafone India
Services Private Limited Ř Vodafone Fiji
Limited Ř Vodafone Espana
S.A. Ř Societe
Francaise Du Radiotelephone (Sfr) Ř Vodafone Qatar
Q.S.C. Ř Dialog Telekom
PLC Ř Gateway Communications
Africa (UK) Limited Ř MobileOne
Limited Ř Vodafone
Alternatif Telekom Hizmetleri A.S. Ř Vodafone Sales
and Services Limited (w.e.f October 15, 2011) |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000000 |
Equity Shares |
Rs. 10/- each |
Rs. 5400.000 Millions |
|
200000 |
Preferences Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
5000 |
Preferences Shares |
Rs.1000000//- each |
Rs. 5000.000 Millions |
|
|
Total |
|
Rs. 10420.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
539607500 |
Equity Shares |
Rs.10/- each |
Rs. 5396.100
Millions |
|
200000 |
Preferences Shares |
Rs.100/- each |
Rs. 20.000
Millions |
|
1600 |
Preferences Shares |
Rs.1000000/- each |
Rs. 1600.000
Millions |
|
|
Total |
|
Rs. 7016.100 Millions |
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 |
7016.100 |
7016.100 |
7016.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13300.800 |
4134.500 |
59.700 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(581.200) |
|
|
NETWORTH |
20316.900 |
11150.600 |
6494.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26918.800 |
30980.200 |
39104.000 |
|
|
2] Unsecured Loans |
34268.000 |
26457.100 |
20043.000 |
|
|
TOTAL BORROWING |
61186.800 |
57437.300 |
59147.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
14.700 |
|
|
|
|
|
|
|
|
TOTAL |
81503.700 |
68587.900 |
65656.300 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
67476.600 |
64248.900 |
65599.300 |
|
|
Capital work-in-progress |
7007.200 |
7444.000 |
6350.800 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
2293.000 |
110.700 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
4020.200
|
3013.100 |
12775.100 |
|
|
Cash & Bank Balances |
5428.300
|
2724.100 |
1677.000 |
|
|
Other Current Assets |
19815.400
|
20482.900 |
0.000 |
|
|
Loans & Advances |
18481.200
|
13129.600 |
7822.300 |
|
Total
Current Assets |
47745.100
|
39349.700 |
22274.400 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20337.600
|
22274.300 |
21713.600 |
|
|
Other Current Liabilities |
20008.400
|
18846.200 |
5655.100 |
|
|
Provisions |
2672.200
|
1444.900 |
1199.500 |
|
Total
Current Liabilities |
43018.200
|
42565.400 |
28568.200 |
|
|
Net Current Assets |
4726.900
|
(3215.700) |
(6293.800) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
81503.700 |
68587.900 |
65656.300 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
71404.700 |
62773.300 |
80515.700 |
|
|
|
Other Income |
889.800 |
209.700 |
2760.500 |
|
|
|
TOTAL (A) |
72294.500 |
62983.000 |
83276.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
52954.500 |
46304.000 |
|
|
|
|
Employee benefit expense |
2145.500 |
1947.400 |
|
|
|
|
Other expenses |
15298.200 |
13609.100 |
|
|
|
|
Exceptional items before tax |
1730.100 |
1298.900 |
|
|
|
|
TOTAL (B) |
72128.300 |
63159.400 |
59442.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE/ (LOSS) INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
166.200 |
(176.400) |
23833.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7862.600 |
7910.600 |
6432.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE/ (LOSS) TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(7696.400) |
(8087.000) |
17401.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9862.400 |
8488.500 |
12197.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
(17558.800) |
(16575.500) |
5203.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(26725.100) |
(21291.200) |
2235.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
9166.300 |
4715.700 |
2968.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
4134.500 |
(581.200) |
(3549.900) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13300.800 |
4134.500 |
(581.200) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Roaming / IUC Revenue |
102.300 |
3860.300 |
2786.300 |
|
|
|
Other Revenue |
4822.100 |
8.400 |
0.000 |
|
|
TOTAL EARNINGS |
4924.400 |
3868.700 |
2786.300 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
9838.600 |
7847.200 |
7723.400 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
16.99 |
8.74 |
5.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.68
|
7.49
|
3.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(24.59)
|
(26.41)
|
6.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.24)
|
(16.00)
|
5.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.86)
|
(148.65)
|
0.80 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.01
|
5.15
|
9.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
0.92
|
0.78 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans and advances from related parties |
4574.700 |
0.000 |
|
Long-term maturities of finance lease obligations |
90.100 |
95.400 |
|
Loans repayable on demand from banks |
10652.600 |
9737.500 |
|
Loans repayable on demand from others |
18950.600 |
16624.200 |
|
Total |
34268.000 |
26457.100 |
BACKGROUND
The Company is engaged
in providing mobile telecommunication services in the West Bengal, Andhra
Pradesh, Karnataka, Chennai, Punjab, UP West, NLD and ILD Circles. In October
2011, the Company changed its name from Vodafone Essar South Limited to
Vodafone South Limited. During the financial year ended March 31 2011, the
Company had transferred its passive infrastructure assets to a fellow
subsidiary in accordance with a Scheme of Demerger approved by the High Court.
OPERATIONS
The year ended
March 2012 has been a good year for the Company. The favourable revenue
performance was primarily due to both higher Outbound and Inbound Voice and
greater Messaging and Data usage. During the year under review, the Company has
wide nedits subscriber base by launch of various segmented products.
The company's
customer base (incl. Tamilnadu) grew toalandmark51.2 million subscribers with a
growth rate of 7.5% on a year on year basis. Your Company (incl. Tamilnadu)
continues to be the leading operator, having a Revenue market share of 17.9%(
Includes fixed line revenue of all operators) as at 31 March2012in a very
competitive multi-player market.
During the year
2011-12, the Company has further expanded its network to increase its coverage
and networks continue to perform better against acceptable thresholds for the
major performance parameters. The Company has added 1,385 more cell sites to
enhance its network coverage, closing with a total of 34,838cellsites as at 31
March 2012.
OUTLOOK FOR
2012-13
Intense
competition is expected to continue in FY 2012-13bothinthe voice and data (2G
& 3G) space. However, uncertainties on the regulatory front and high
reserve price fixed by the Government for the 2G auction is expected to result
in consolidation in the market. With margins coming under pressure, it is
expected that operators would strengthen the rate per minute further in the
coming year. Vodafone is one among the top multinational consumer brands in
India, and it is expected that subscribers will continue to patronize the
Company for the high customer focus and reliable network.
The revenue from
data is expected to grow significantly in the coming year after the recent
price rationalization and with Company's enhanced focus on 3G and value added service.
Low price point smart phones and drop in rate per Mb is expected to result in
steep increase in data usage and revenue. In addition, plans to attract new
high value quality customers and retain existing customers are in place. The
focus on cost reduction and working capital improvement will continue with more
rigor in the coming year. Given the strong presence in the circles in which the
company operates and brand strength of Vodafone India group, your company is
confident of delivering consistent results.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
(a) Additional
charges for license fees levied by Department of Telecommunications and
contested by the Company |
372.200 |
126.900 |
|
(b) Show cause
notice received from Department of Telecommunications regarding short
paymentoflicensefeesfor2006-07 and 2007-08 relating to the computation of AGR
for determining license fees payable |
644.500 |
0.000 |
|
Demands from BSNL for port charges |
142.400 |
190.600 |
|
Income Tax
matters pending in appeals towards disallowances of license fees ,other
disallowances and non deduction of tax at source |
5812.800 |
5736.700 |
|
Service Tax demands
in respect of disallowance of CENVAT credit on towers, shelters and other
matters |
2406.500 |
1156.200 |
|
Sales tax demand
relating to computation of tax liability, submission of statutory forms,
penalty, SIMs and other matters |
216.700 |
863.600 |
|
Consumer/Civil
cases against the Company |
284.300 |
18.600 |
|
Other claims |
159.700 |
143.000 |
|
Guarantees: |
|
|
|
Guarantees given
by bankers to third parties, counter guaranteed by the Company. |
1327.100 |
978.500 |
|
Joint and several
guarantees given to Banks by the Company together with its holding company
and certain of its fellow subsidiaries for loans , including interest thereon |
319096.600 |
310880.200 |
|
Loans
outstanding |
270854.700 |
267061.400 |
FIXED ASSETS:
Ř Plant and equipment
Ř Furniture and fixtures
Ř Vehicles
Ř Office equipment
Ř Computer equipments
Ř Other equipments
Ř Leasehold improvements
Ř Computer software
Ř License/ Spectrum
fees
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. 54.92 |
|
|
1 |
Rs. 84.44 |
|
Euro |
1 |
Rs. 71.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.