MIRA
INFORM REPORT
|
Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
BT GLOBAL COMMUNICATIONS INDIA PRIVATE LIMITED (w.e.f.21.06.2007) |
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Formerly Known
As : |
i2i ENTERPRISE PRIVATE LIMITED (w.e.f.14.12.2006) i2i ENTERPRISE LIMITED GLENAYRE ELECTRONICS ( |
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Registered
Office : |
Plot No. A4, B - Cross Road, MIDC, Marol, Andheri (East), Mumbai – 400093, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.10.1992 |
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Com. Reg. No.: |
11-154386 |
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Capital
Investment/ Paid-up Capital: |
Rs.112.484 Millions |
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CIN No.: [Company Identification
No.] |
U72900MH1992PTC154386 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG03547F |
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PAN No.: [Permanent Account No.] |
AAACG1534A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is
Currently Providing Telecom Services Under ILD and ISP licence. |
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No. of
Employees: |
Information denied by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11200000 |
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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 subsidiary of BT Telecom India Private Limited. It is a
well-established company having fine track record. Financial position of the company appears to be decent. Over all fundamentals
of the company appears to be strong and healthy. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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.
INDIAN ECONOMIC OVERVIEW
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
Management non co-operative (Tel No.: 91-22-39884545)
LOCATIONS
|
Registered Office : |
Plot No. A4, B - Cross Road, MIDC, Marol, Andheri (East), Mumbai – 400093,
Maharashtra, India |
|
Tel. No.: |
91- 22 – 39884545 |
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Fax No.: |
91- 22 – 28595055 |
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E-Mail : |
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BT ( (Registered office : |
11th Floor, Eros Corporate Tower, Opposite International
Trade Power Nehru Palce, New Delhi – 110019, India |
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Tel. No.: |
91-11-47811111 |
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Corporate Office : |
502, 5th Floor, Raheja Titanium II Off. Western Express
Highway, Jogeshwari (East) Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-4243 0000 |
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Related Company |
602, Tower B, RMZ Infinity, Municipal No.3, Old Madras Road,
Benninganahalli, Bengaluru – 560016, Karnataka, India |
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Tel. No.: |
91-44-39884545 |
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Branch Office |
8-A, 8 –D, 8th Floor, Doshi Towers, 156 Poonamallee High
Road, Kilpauk, Chennai -600010, Tamilnadu, India |
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Tel. No.: |
91-44-39884545 |
DIRECTORS
As on 24.09.2013
|
Name : |
Mr. Sudhir Narang |
|
Designation : |
Director |
|
Address : |
10, Vikas Marg, Defence Enclave, New Delhi – 110092, India |
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Date of Birth/Age : |
18.08.1964 |
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Date of Appointment : |
15.01.2008 |
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DIN No.: |
02015024 |
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Name : |
Mr. Pawan Kumar Khandelwal |
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Designation : |
Director |
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Address : |
Flat No. 0763, 6th Floor, Tower No.7, ATS Green Village, Sector 93 A, Noida
– 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
24.11.1973 |
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Date of Appointment : |
29.09.2011 |
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DIN No.: |
01237758 |
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Name : |
Mr. Shyam Hardwerilal Mittal |
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Designation : |
Director |
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Address : |
B 6/41, Gree Fields, Mahakali, Caves Road, Andheri (East), Mumbai –
400093,Maharashtra, India |
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Date of Birth/Age : |
10.10.1961 |
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Date of Appointment : |
23.12.2008 |
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DIN No.: |
02547644 |
KEY EXECUTIVES
|
Name : |
Mr. Namrata Panjwani |
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Designation : |
Secretary |
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Address : |
Ganga Niwas, F -323, Sarita Vihar, New Delhi – 110076, India |
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Date of Birth/Age : |
15.01.1980 |
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Date of Appointment : |
28.12.2009 |
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PAN No.: |
ALAPP4812C |
MAJOR SHAREHOLDERS
As on 24.09.2013
|
Names of Shareholders |
No. of Shares |
|
BT Telecom India Private Limited, India |
22496881 |
|
Sudhir Narang Jointly Held, BT Telecom India Private Limited, India |
1 |
|
TOTAL
|
22496882 |
As on 24.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is Currently Providing Telecom Services Under ILD and ISP
licence. |
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Products / Services : |
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GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse and Company Chartered Accountant |
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Address : |
Building 8, 7th and 8th Floor, Tower - B, DLF Cyber City,
Gurgaon – 122002, Haryana, India |
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PAN No.: |
AAEFP3641G |
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Holding company
: |
BT Telecom India Private Limited CIN No.: U64201DL2005PTC140907 |
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Ultimate Holding
Company |
BT Group Plc. ('BT Group') |
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Intermediary
Holding Company |
British Telecommunications Plc. ('BT Plc.') |
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Entities under
Common Control : |
·
BT Americas Inc., US ·
Infonet Services Corporation ·
BT (India) Private Limited CIN No.: U74899DL2000PTC109012 ·
BT e-Serv (India) Private Limited CIN No.: U72900DL2007PTC169335 ·
IINS Inc, US ·
Communications Networking Services (UK) ·
BT Singapore Pte Limited |
CAPITAL STRUCTURE
As on 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.5/- each |
Rs.250.0000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22496882 |
Equity Shares |
Rs.5/- each |
Rs.112.484
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
112.484 |
112.484 |
112.484 |
|
(b) Reserves & Surplus |
2698.459 |
2281.344 |
2019.452 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
2810.943 |
2393.828 |
2131.936 |
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(3)
Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
29.985 |
24.890 |
23.481 |
|
Total Non-current Liabilities (3) |
29.985 |
24.890 |
23.481 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
139.379 |
6169.908 |
3730.956 |
|
(c) Other current
liabilities |
438.100 |
385.060 |
432.047 |
|
(d) Short-term provisions |
3.607 |
2.117 |
1.915 |
|
Total Current Liabilities (4) |
581.086 |
6557.085 |
4164.918 |
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TOTAL |
3422.014 |
8975.803 |
6320.335 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
55.126 |
86.133 |
258.883 |
|
(ii) Intangible Assets |
33.141 |
35.641 |
38.186 |
|
(iii) Capital
work-in-progress |
79.499 |
3.372 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
74.880 |
74.491 |
33.738 |
|
(d) Long-term Loan and Advances |
1380.987 |
594.808 |
555.021 |
|
(e) Other Non-current assets |
0.734 |
0.375 |
0.300 |
|
Total Non-Current Assets |
1624.367 |
794.820 |
886.128 |
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
757.012 |
7086.084 |
4743.674 |
|
(d) Cash and cash
equivalents |
464.905 |
939.176 |
430.784 |
|
(e) Short-term loans and advances |
381.615 |
10.909 |
259.663 |
|
(f) Other current assets |
194.115 |
144.814 |
0.086 |
|
Total Current Assets |
1797.647 |
8180.983 |
5434.207 |
|
|
|
|
|
|
TOTAL |
3422.014 |
8975.803 |
6320.335 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
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Other Income |
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TOTAL |
6542.100 |
5560.800 |
5098.800 |
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|
Less |
EXPENSES |
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|
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|
Cost of Material Consumed |
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Purchase of Stock In Trade |
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Other Expenses |
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TOTAL |
5938.000 |
5023.800 |
4482.800 |
|
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|
PROFIT / (LOSS)
BEFORE TAX |
604.100 |
358.100 |
216.400 |
|
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|
Less |
TAX |
146.500 |
96.200 |
(29.700) |
|
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|
PROFIT / (LOSS)
AFTER TAX |
457.600 |
261.900 |
246.100 |
|
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EARNINGS IN FOREIGN
CURRENCY |
2597.580 |
2428.790 |
3892.443 |
|
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|
VALUE OF IMPORT |
78.930 |
3.006 |
NA |
|
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|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
20.34 |
NA |
0.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.99 |
4.71 |
4.83 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.39 |
2.98 |
4.11 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.11 |
0.11 |
|
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|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.09 |
1.25 |
1.30 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
s |
|
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 |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
·
CURRENT MATURITY
OF LONG TERM DEBT DETAILS NOT AVAILABLE
·
NO CHARGES EXIST
FOR THE COMPANY
FIXED ASSETS
·
Land
·
Plant and Equipment
·
Furniture and Fixtures
·
Computer Equipment’s
·
Building
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 |
|
UK Pound |
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--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 |
|
52 |
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.