1. Summary Information
|
|
|
Country |
|
|||
|
Company Name |
TATA COMMUNICATIONS
PAYMENT SOLUTIONS LIMITED |
Principal Name 1 |
Mr. Satish Gopal Ranade |
|||
|
Status |
Good |
Principal Name 2 |
Mr. Sanjay Baweja |
|||
|
|
|
Registration # |
11-179551 |
|||
|
Street Address |
C-21/C 36, ‘G’ Block, Bandra Kurla Complex, Mumbai-400098, |
|||||
|
Established Date |
28.02.2008 |
SIC Code |
-- |
|||
|
Telephone# |
91-22-66591977 |
Business Style 1 |
Service Provider |
|||
|
Fax # |
91-22-67251962 |
Business Style 2 |
-- |
|||
|
Homepage |
-- |
Product Name 1 |
Electronic Transactions
Processing Services |
|||
|
# of employees |
-- |
Product Name 2 |
Core Banking Solutions
Services |
|||
|
Paid up capital |
Rs.750,000,000/- |
Product Name 3 |
-- |
|||
|
Shareholders |
Bodies corporate 100% |
Banking |
-- |
|||
|
Public Limited Corp. |
NO |
Business Period |
5 Years |
|||
|
IPO |
NO |
International Ins. |
-- |
|||
|
Public |
NO |
Rating |
A (59) |
|||
|
Related
Company |
||||||
|
Relation
|
Country
|
Company
Name |
CEO |
|||
|
Holding
Company |
|
Tata Communication Limited |
-- |
|||
|
Note |
- |
|||||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,470,013,000 |
Current Liabilities |
914,251,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
851,500,000 |
|
Fixed Assets |
393,037,000 |
Other Liabilities |
15,002,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,780,753,000 |
|
Invest& other Assets |
6,348,000 |
Retained Earnings |
(661,355,000) |
|
|
|
Net Worth |
88,645,000 |
|
Total Assets |
1,869,398,000 |
Total Liab. & Equity |
1,869,398,000 |
|
Total Assets (Previous Year) |
1,418,224,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
1,699,554,000 |
Net Profit |
(391,834,000) |
|
Sales(Previous yr) |
411,184,000 |
Net Profit(Prev.yr) |
(168,891,000) |
|
Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TATA COMMUNICATIONS PAYMENT SOLUTIONS LIMITED (w.e.f. 03.01.2013) |
|
|
|
|
Formerly Known
As : |
TATA COMMUNICATION BANKING INFRASOLUTIONS LIMITED (w.e.f.
09.06.2009) BANKING ATM INFRASOLUTIONS LIMITED |
|
|
|
|
Registered
Office : |
C-21/C 36, ‘G’ Block, Bandra Kurla Complex, Mumbai-400098, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.02.2008 |
|
|
|
|
Com. Reg. No.: |
11-179551 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.750.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2008PLC179551 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB3924G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Banking Infrastructure Service Provider. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 354000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of Tata Communication Limited, a
part of Tata Group. It is a well established and reputed company having fine track record.
Financials for the year 2013 is not available however as per previous year
financial, there seem some accumulated losses recorded by the company.
However, the company receives good support from its group company. Directors
are reported to be well experienced respectable and knowledge businessmen.
Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces
a 119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term facilities AA+ |
|
Rating Explanation |
Very high degree of safety and carry very
low credit risk. |
|
Date |
October 5th, 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-21/C 36, ‘G’ Block, Bandra Kurla Complex, Mumbai-400098, |
|
Tel No.: |
91-22-66591977 |
|
Fax No.: |
91-22-67251962 |
|
E-Mail : |
DIRECTORS
As on: 08.08.2013
|
Name : |
Mr. Satish Gopal Ranade |
|
Designation : |
Director |
|
Address : |
15/8, JPM Society, |
|
Date of Birth/Age : |
14.09.1953 |
|
Date of Appointment : |
28.02.2008 |
|
DIN No. : |
00058116 |
|
|
|
|
Name : |
Mr. Srinivasa Rao Addepalli |
|
Designation : |
Director |
|
Address : |
1002, Dosti Daisy, Dosti Acrres, Antop Hill, Wadala (E), Mumbai, |
|
Date of Birth/Age : |
23.03.1975 |
|
Date of Appointment : |
28.02.2008 |
|
DIN No. : |
00362918 |
|
|
|
|
Name : |
Mr. Sanjay Baweja |
|
Designation : |
Director |
|
Address : |
H No. 29, Street No. 11, Rajinder Nagar, New Delhi – 110060,
India |
|
Date of Birth/Age : |
11.10.1960 |
|
Date of Appointment : |
31.07.2009 |
|
DIN No. : |
00232126 |
KEY EXECUTIVES
|
Name : |
Mr. Rishabh Nath Aditya |
|
Designation : |
Secretary |
|
Address : |
A-604, Dheeraj Gaurav Heights – II Off New Limk Road, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1970 |
|
Date of Appointment : |
24.07.2012 |
|
PAN No. : |
AACPA4865F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 08.08.2013
|
Names of Shareholders |
No. of Shares |
|
Tata Communication Limited |
332713685 |
|
Tata Communication Limited, Jointly Held With Ranade Gopal Satish |
100 |
|
Tata Communication Limited, Jointly Held With Addepalli Rao Srinivasa |
100 |
|
Tata Communication Limited, Jointly Held With Aditya Rishabh Nath |
100 |
|
Tata Communication Limited, Jointly Held With Dasappa Aroon |
100 |
|
Tata Communication Limited, Jointly Held With Shrinivastav Shalini |
100 |
|
Tata Communication Limited, Jointly Held With Someshwar Ashok |
100 |
|
|
|
|
Total |
332714285 |
As on: 08.08.2013
|
Names of Allottee |
No. of Shares |
|
Tata Communication Limited |
10000000 |
|
|
|
|
Total |
10000000 |
As on: 08.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Banking Infrastructure Service Provider. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
PAN No. : |
AACFD4815A |
|
|
|
|
Holding Company: |
Tata Communication Limited (L64200MH1986PLC039266) |
|
|
|
|
Investing
Parties (Promoters) of Holding Company : |
Ø
PanatoneFinvest Limited Ø Tata Sons
Limited |
|
|
|
|
Fellow
Subsidiaries : |
Ø
Tata Communications Transformation Services
Limited Ø
Tata Communications Lanka Limited Ø
Tata Communications International Pte. Limited Ø
VSNL SNOSPV Pte Limited Ø
S and A Internet Services Private Limited Ø
Tata Communications (Australia) Pty Limited Ø
Tata Communications (America) Inc.# Ø
Tata Communications (Belgium) SPRL Ø
Tata Communications (Bermuda) Limited Ø
Tata Communications Services (Bermuda) Limited Ø Tata
Communications (Canada) Limited Ø
Tata Communications (France) SAS Ø
Tata Communications Deutschland GmbH Ø
Tata Communications (Guam) LLC Ø
Tata Communications (Hong Kong) Limited Ø
Tata Communications (Hungary) LLC Ø
Tata Communications (Ireland) Limited Ø
Tata Communications (Italy) S.r.l Ø
Tata Communications (Japan) KK Ø
ITXC IP Holdings S.ar.l Ø
Tata Communications (Netherlands) B.V. Ø
Tata Communications (Poland) Sp. z oo Ø
Tata Communications (Portugal) Unipessoal LDA Ø
Tata Communications (Portugal) Instalacao E
Manutencao De Redes LDA Ø
Tata Communications (Puerto Rico) Inc Ø
Tata Communications (Russia) LLC Ø
Tata Communications Services (International) Pte.
Limited. Ø
Tata Communications (Sweden) AB Ø
Tata Communications (Switzerland) GmbH Ø
Tata Communications (UK) Limited Ø
TCPoP Communication GmbH Ø
Tata Communications (Middle East) FZ-LLC Ø Tata
Communications (Taiwan) Limited Ø
BitGravity Inc. Ø
Neotel (Pty) Ltd.(Fellow subsidiary w.e.f 11
April 2011) Ø
SEPCO Communications Pty Limited. (Fellow
Subsidiary w.e.f 11 April 2011) Ø
Videsh Sanchar Nigam Spain S. L. Ø
Tata Communications (Nordic) AS Ø
Tata Communications (New Zealand) Limited Ø
Tata Communications (Malaysia) Sdn. Bhd. Ø Tata
Communications Services (America) Inc. (Upto 31 March NOTE: # Tata
Communications Services (America) Inc. (TCSAI), Tata Communications (US) Inc.
(TCUI) has been merged with Tata Communications (America) Inc. (TCAI) w.e.f 1
April 2011, hence balances and transactions of TCSAI and TCUI have been
combined as those of TCAI for financial year 2011-12 and 2010-11 respectively. |
|
|
|
|
Joint Venture of
Holding Company |
Ø
United Telecom Limited |
|
|
|
|
Joint Venture /
Associate of Holding Company |
Ø
SEPCO Communications Pty Limited. (till 11 April
2011) Ø
Neotel (Pty) Limited. (till 11 April 2011) |
CAPITAL STRUCTURE
After: 08.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
342714285 |
Equity Shares |
Rs.10/- each |
Rs.3427.143 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
750.000 |
|
(b) Reserves & Surplus |
|
|
(661.355) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
88.645 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
670.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
13.434 |
|
Total Non-current Liabilities (3) |
|
|
683.434 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
|
181.500 |
|
(b) Trade payables |
|
|
887.656 |
|
(c) Other current
liabilities |
|
|
26.595 |
|
(d) Short-term provisions |
|
|
1.568 |
|
Total Current Liabilities (4) |
|
|
1097.319 |
|
|
|
|
|
|
TOTAL |
|
|
1869.398 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
388.527 |
|
(ii) Intangible Assets |
|
|
4.510 |
|
(iii) Capital
work-in-progress |
|
|
6.348 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
362.314 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
761.699 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
533.412 |
|
(d) Cash and cash
equivalents |
|
|
136.952 |
|
(e) Short-term loans
and advances |
|
|
290.308 |
|
(f) Other current
assets |
|
|
147.027 |
|
Total Current Assets |
|
|
1107.699 |
|
|
|
|
|
|
TOTAL |
|
|
1869.398 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
750.000 |
0.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(269.521) |
(100.629) |
|
|
NETWORTH |
|
480.479 |
(100.129) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
670.053 |
245.766 |
|
|
TOTAL BORROWING |
|
670.053 |
245.766 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1150.532 |
145.637 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
337.647 |
163.392 |
|
|
Capital work-in-progress |
|
7.003 |
181.650 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
304.515 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000
|
0.000
|
|
|
Sundry Debtors |
|
206.411
|
18.716
|
|
|
Cash & Bank Balances |
|
12.100
|
0.893
|
|
|
Other Current Assets |
|
81.230
|
32.290
|
|
|
Loans & Advances |
|
469.318
|
16.905
|
|
Total
Current Assets |
|
769.059
|
68.804
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
195.072
|
239.484
|
|
|
Other Current Liabilities |
|
54.668
|
13.399
|
|
|
Provisions |
|
17.952
|
15.326
|
|
Total
Current Liabilities |
|
267.692
|
268.209
|
|
|
Net Current Assets |
|
501.367
|
(199.405)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1150.532 |
145.637 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1699.554 |
411.184 |
50.286 |
|
|
|
Other Income |
7.692 |
2.254 |
6.480 |
|
|
|
TOTAL (A) |
1707.246 |
413.438 |
56.766 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee related expenses |
176.363 |
104.215 |
65.315 |
|
|
|
Manufacturing service costs |
0.000 |
269.146 |
44.181 |
|
|
|
Administrative selling other expenses |
0.000 |
118.331 |
38.398 |
|
|
|
Contract cost |
0.000 |
11.908 |
(11.908) |
|
|
|
Other expenses |
1802.967 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
1979.330 |
503.600 |
135.986 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(272.084) |
(90.162) |
(79.220) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.904 |
38.575 |
9.153 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(340.988) |
(128.737) |
(88.373) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
50.846 |
40.154 |
11.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(391.834) |
(168.891) |
(99.391) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(391.834) |
(168.891) |
(99.391) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(269.520) |
(100.629) |
(1.238) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(661.354) |
(269.520) |
(100.629) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
13.562 |
-- |
164.569 |
|
|
TOTAL |
13.562 |
-- |
164.569 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.22) |
(50.63) |
(1987.82) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(22.95)
|
(40.85)
|
(175.09) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(23.05)
|
(41.07)
|
(197.65) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(21.03)
|
(15.26)
|
(42.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(4.42)
|
(0.35)
|
(0.99) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
9.60
|
1.39
|
(2.45) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
2.87
|
0.26 |
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 |
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 |
NOTE:
The registered office of the company has been shifted from LVSB, Kashinath
Dhuru Marg, Prabhadevi, Mumbai-400028, Maharashtra, India to the present
address w.e.f. 01.11.2009
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
|
Long Term Borrowing
|
|
|
Rupees term loan from bank |
670.000 |
|
|
|
|
Short Term
Borrowing |
|
|
Loans and advance from directors |
181.500 |
|
|
|
|
Total |
851.500 |
|
Particulars |
31.03.2011 (Rs.
in Millions) |
|
Loans from Tata Communication Limited |
670.053 |
|
|
|
|
Total |
670.053 |
INDEX CHARGES:
No Charges Exist for Company
STRATEGIC OVERVIEW AND OPERATIONS
The Company was
incorporated with an object to be in the business of providing infrastructure services
to the Banking and Financial Services Industry. The services and solutions
offered by the Company include those relating to automated teller machines
(ATM), electronic transaction processing solutions (ETPS), core banking
solutions (CBS) and other equipments which could be used for banking
operations. The Company is actively engaging the banks for using its unique Pay
per Use service model and has commenced commercial operations with effect from
1st April, 2009. The Company has put in place a highly experienced team of
professionals from the banking and financial services industry for managing the
operations of the company.
As on 31st March,
2012 the company manages 2322 ATMs under the Deployment model and 9491 ATMs
under the Managed Services model. The Company has implemented its own Payments
Switch. The Switch will add value to existing offerings in terms of ATM and
ETPS by both broadening and deepening the Company’s offerings to Banks and
other Financial Institutions. Switch is at the heart of all payment
transactions as it is the key system to connect all front-end channels (ATMs,
POS, Kiosk, Internet Mobile, IVR etc) to back-end authorization systems. Owning
a Switch provides control of the payments value chain which will allow the
Company to develop innovative Value-added Services (VAS) and deploy the same at
a faster time-to-market. It will also provide flexibility to the Company to
offer end-to end ATM and ETPS offering to Banks including the provision of
switch to control all channels and card authorization.
FIXED ASSETS:
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.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.