MIRA INFORM REPORT
|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
OPTIEMUS INFRACOM LIMITED (w.e.f 06.07.2012) |
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Formerly Known
As : |
AKANKSHA CELLULAR LIMITED |
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Registered
Office : |
K-20, 2nd Floor, Lajpat Nagar-II, New Delhi – 110024 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.06.1993 |
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Com. Reg. No.: |
55-054086 |
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Capital
Investment / Paid-up Capital : |
Rs.858.100
Millions |
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|
|
CIN No.: [Company Identification
No.] |
L64200DL1993PLC054086 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA23355D |
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PAN No.: [Permanent Account No.] |
AAACA2031L |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
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No. of Employees
: |
650 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6840000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Trade relations are fair. Business is active. Payments are reported to
usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
24.12.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 [Short Term Bank Facilities] |
|
Rating Explanation |
Moderate credit quality and high credit risk. |
|
Date |
24.12.2012 |
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Shiv Chauhan |
|
Designation : |
Office Executive |
|
Contact No.: |
91-11-29840906 |
|
Date : |
10.10.2013 |
LOCATIONS
|
Registered Office : |
K-20, 2nd Floor, Lajpat Nagar-II, New Delhi – 110024, India |
|
Tel. No.: |
91-11-29840905/ 06/ 07 |
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Fax No.: |
91-11-29840908 |
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E-Mail : |
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Website : |
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Branch Office : |
317, Competent House, F 14
Connaught Circus, New Delhi – 110001, India |
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Tel. No.: |
91-11-41529023 |
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Fax No.: |
91-11-41529030 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Tejendra Pal Singh Josen |
|
Designation : |
Independent Non Executive Director |
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Name : |
Mr. Ashok Gupta |
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Designation : |
Chairman and Managing Director |
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Qualification : |
B.Com |
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|
Name : |
Mr. Hardip Singh |
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Designation : |
Director (Operations) |
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Qualification : |
BA |
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|
Name : |
Ms. Parul Rai |
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Designation : |
Director (Business Relation) |
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Qualification : |
M.A, B.Ed |
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|
|
|
Name : |
Mr. Gautam Kanjilal |
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Designation : |
Non-Executive Director |
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Qualification : |
Graduate in Economics |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Chandra |
|
Designation : |
Company secretary |
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|
|
|
Name : |
Mr. Parveen Sharma |
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Designation : |
Chief financial officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
25562041 |
29.79 |
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|
38738500 |
45.14 |
|
|
64300541 |
74.93 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
64300541 |
74.93 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
16434476 |
19.15 |
|
|
|
|
|
|
1530469 |
1.78 |
|
|
3488077 |
4.06 |
|
|
60628 |
0.07 |
|
|
58933 |
0.07 |
|
|
1695 |
0.00 |
|
|
21513650 |
25.07 |
|
Total Public shareholding (B) |
21513650 |
25.07 |
|
Total (A)+(B) |
85814191 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
85814191 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
|
GENERAL INFORMATION
|
No. of Employees : |
650 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
RMA and Associates Chartered Accountants |
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Address : |
48, 1st Floor, Hasan Pur, I.P.
Extention, Delhi – 110092, India |
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Subsidiaries : |
Optiemus Infracom (Singapore) Pte Limited |
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Fellow Subsidiaries : |
Optiemus Metals and Mining Pte. Limited |
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Other Related Parties : |
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CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
85980000 |
Equity Shares |
Rs.10/- each |
Rs.859.800 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
85814191 |
Equity Shares |
Rs.10/- each
|
Rs.858.100
Millions |
NOTES:
The Company has
only one class of equity shares having a par value of Rs. 10/- per share. Each
Holder of equity is entitled to one vote per share.
In the event of
liquidation of the Company, the total proceeds from such liquidation after
discharging the liability of the Company will be distributed among the holders
of the shares of the Company.
|
LIST OF SHAREHOLDERS HOLDING EQUITY SHARES 5 % OR
MORE |
AS ON 31.03.2013 |
|
|
NAME OF
SHAREHOLDERS |
NO. OF SHARES |
% |
|
GRA Enterprises Private Limited |
38738500 |
45.14 |
|
Ashok Gupta |
5754894 |
6.71 |
|
Renu Gupta |
6981111 |
8.14 |
|
Deepesh Gupta |
5365029 |
6.25 |
|
Neetesh Gupta |
5214607 |
6.08 |
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
858.100 |
858.100 |
858.142 |
|
(b) Reserves & Surplus |
852.000 |
545.900 |
264.554 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
20.500 |
|
Total Shareholders’ Funds (1) + (2) |
1710.100 |
1404.000 |
1143.196 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
1193.800 |
1098.400 |
63.213 |
|
(b) Deferred tax
liabilities (Net) |
20.200 |
17.200 |
17.836 |
|
(c)
Other long term liabilities |
95.600 |
2.400 |
0.000 |
|
(d)
long-term provisions |
5.700 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1315.300 |
1118.000 |
81.049 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1174.800 |
1210.100 |
919.005 |
|
(b)
Trade payables |
2287.200 |
1689.500 |
1542.219 |
|
(c)
Other current liabilities |
218.800 |
8.600 |
16.337 |
|
(d)
Short-term provisions |
8.800 |
49.000 |
83.887 |
|
Total
Current Liabilities (4) |
3689.600 |
2957.200 |
2561.448 |
|
|
|
|
|
|
TOTAL |
6715.000 |
5479.200 |
3785.693 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1355.400 |
1409.400 |
193.473 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
370.600 |
2.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
39.500 |
9.300 |
11.129 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24.400 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
58.400 |
58.400 |
1.093 |
|
Total
Non-Current Assets |
1848.300 |
1479.100 |
205.695 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
2.800 |
7.700 |
0.000 |
|
(b)
Inventories |
690.700 |
424.100 |
418.176 |
|
(c)
Trade receivables |
2511.800 |
2440.800 |
2100.251 |
|
(d)
Cash and cash equivalents |
704.700 |
546.300 |
336.274 |
|
(e)
Short-term loans and advances |
886.100 |
527.000 |
424.549 |
|
(f)
Other current assets |
70.600 |
54.200 |
300.748 |
|
Total
Current Assets |
4866.700 |
4000.100 |
3579.998 |
|
|
|
|
|
|
TOTAL |
6715.000 |
5479.200 |
3785.693 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28315.700 |
18545.500 |
12077.311 |
|
|
|
Other Income |
34.200 |
23.100 |
49.684 |
|
|
|
TOTAL (A) |
28349.900 |
18568.600 |
12126.995 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
890.000 |
562.800 |
211.561 |
|
|
|
Purchases of Stock-in-Trade |
26501.500 |
16999.600 |
11290.899 |
|
|
|
Employee benefits expense |
166.700 |
129.200 |
106.890 |
|
|
|
Other expenses |
229.600 |
258.100 |
220.110 |
|
|
|
Exceptional items ( Past years Gratuity Liability) |
5.800 |
0.000 |
0.000 |
|
|
|
Changes in
inventories of finished goods Stock-in-Trade |
(266.500) |
(6.000) |
(147.159) |
|
|
|
TOTAL (B) |
27527.100 |
17943.700 |
11682.301 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
822.800 |
624.900 |
444.694 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
286.700 |
157.300 |
121.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
536.100 |
467.600 |
322.864 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
63.600 |
62.900 |
88.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
472.500 |
404.700 |
234.197 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
166.300 |
123.400 |
78.331 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
306.200 |
281.300 |
155.866 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
519.700 |
238.500 |
82.595 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
825.900 |
519.800 |
238.461 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
519.800 |
238.461 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
3.57 |
3.28 |
2.08 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Net Sales |
|
|
9908.200 |
|
Total Expenditure |
|
|
9602.700 |
|
PBIDT (Excl OI) |
|
|
305.500 |
|
Other Income |
|
|
0.700 |
|
Operating Profit |
|
|
306.100 |
|
Interest |
|
|
73.800 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
232.400 |
|
Depreciation |
|
|
12.600 |
|
Profit Before Tax |
|
|
219.800 |
|
Tax |
|
|
74.700 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
145.100 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
145.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.08
|
1.51 |
1.28
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.67
|
2.18 |
1.93
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.49
|
7.40 |
6.20
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.29 |
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.39
|
1.64 |
0.86
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.35 |
2.17
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10436499 |
11/07/2013 |
600,000,000.00 |
STANDARD
CHARTERED BANK |
CREDIT DOCUMENTATION
UNIT, NARAIN MANZIL, 23 BARA |
B79468112 |
|
2 |
10050459 |
15/01/2010 * |
600,000,000.00 |
INDUSIND BANK
LIMITED |
DR. GOPAL DAS
BHAWAN, 28, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
A80185812 |
|
3 |
10034676 |
28/03/2013 * |
2,650,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, N-3, SOUTH EXTENSION PART-1, NEW DELHI - 110049, INDIA |
B72881493 |
|
* Date of charge modification |
||||||
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
From Others |
460.400 |
447.000 |
|
TOTAL
|
460.400 |
447.000 |
NATURE OF
OPERATIONS:
The Company is primarily
engaged in the trading of mobile handset and mobile accessories and
construction of road and highways business etc.
OPERATIONS:
During the year
under reporting, the company achieved another milestone as turnover touched an all
time high of Rs. 28349.900 Millions as compare to Rs. 18568.600 Millions for
the previous year registering a growth of 52.68%. The management of the Company
is committed to maximize the shareholders value.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
INDUSTRY STRUCTURE AND DEVELOPMENTS:
MACRO ECONOMIC
SITUATION
2012-13 was a
challenging year for the Indian economy, which experienced its worst slowdown
in nearly a decade on the back of global stagnation and domestic macroeconomic
fiscal imbalances. The year started with news that the expansion in the
previous year’s fourth quarter GDP had dropped to 5.5%. That, coupled with low
growth, a high fiscal and current account deficit, persistent high inflation,
ballooning subsidies and pessimistic business sentiment added to the slowdown.
Sources of funding continued to be scarce and borrowing costs remained high
during the year. During last year, the global economy had recovered slightly
from the crisis of the earlier year. Nevertheless, the International Monetary
fund (IMF), in the update of its World Economic Outlook, lowered the world GDP
growth projections for 2013 and 2014, given renewed setbacks in the Eurozone
and the risk of excessive fiscal consolidation in the United States.
INDIAN ECONOMY
India’s GDP growth
in FY 2012-13 moderated to 5% from 6.2% in FY 2011-12, primarily due to global
economic contraction, domestic infrastructural bottlenecks, policy uncertainty
and regulatory obstacles. Consumption demand and consumer related sectors were
impacted by inflation and high interest rates. However, the moderation in core
inflation and some progress on fiscal consolidation have provided enough
headroom to reduce interest rates and spur economic activity.
The Government is
also initiating measures to limit the fiscal deficit for FY 2013-14 to 4.8% of
GDP and drive infrastructure investments under the 12th Five Year Plan. Such
measures will restore confidence in India’s macroeconomic policy and drive
big-ticket investment. The IMF’s growth forecast for India is 5.7% in 2013,
which can touch 6.2% in 2014, helped by growing domestic demand and enabling
policy initiatives. Neighbouring Bangladesh and Sri Lanka are also expected to
grow by 6% and 6.3%, respectively, in 2013.
GLOBAL TELECOM
MARKET
In 2012-13, the
global telecom market grew marginally, by approximately 3% year-on-year, to USD
2.207 trillion. Telecom mobile devices accounted for 16% of the Total Market.
The low single-digit growth rate of the past fiscal year is expected to
continue over the next four years as well, with the total telecom market
expected to grow at a compounded annual growth rate (CAGR) of only 4%, largely
due to on-going economic concerns. During 2012-13, the Company’s addressable
market in mobile devices witnessed a excellent growth because the mobile market
showed a healthy growth. In the future, they expect the Company’s addressable
market to continue to grow at an attractive pace.
TELECOM INDUSTRY
SITUATION
Indian
telecommunication industry is one of the fastest growing industries in the
world. The Indian telecom sector and subscriber base have witnessed tremendous
growth over the past decade, catalyzed by increasing mobile handsets demand.
India’s Handset Market grew by 14.7% to Rs. 359460.000 Millions during the
fiscal year 2012-13.
India’s total
customer base stood at 898.02 Mn, second only to China, with a teledensity of
73.32%, as in March 2013. The urban teledensity stood at 149.55%, whereas the
rural teledensity stood at 39.90%, as in December 2012. Low cost and increasing
competition ensured that the share of private sector in the total telecom space
stood at 85.51%, as in December 2012. The announcement of the National Telecom
Policy 2012 will also stand the Company in good stead with the primary
objective of making affordable, reliable and secure telecommunication services
across India. The industry also witnessed consolidation, especially among
business-to-business (B2B) players.
SEGMENT WISE
PERFORMANCE:
BUSINESS SEGMENT-
TELECOMMUNICATION PRODUCTS
The Indian telecom
sector has witnessed tremendous growth over the past decade. Today, the Indian
telecom network is the second largest in the world after China. A liberal
policy regime and involvement of the private sector have played an important
role in transforming this sector; the total number of mobile subscribers
globally was at 3.2 billion by end of 2012, growing to 4 billion within the
next five years.
The company
operates in International branded devices (Samsung Brand) and is having a
strong distribution network across the country. The market for mobile devices
can be broadly divided into 2 categories (a) Feature Phones (b) Smart Phones.
While the feature phone market is expected to grow at an average of 3% per
annum in volume terms, smart phone is expected to witness over 100% year on
year growth in 2013.
The organized
Retail of Mobile Handsets is growing rapidly in line with the increase in
market share of smart phones as customers prefer to buy smart phones from
organized retail stores which offer better buying experience and understanding
the functions of a smart phone. Organized retail currently holds close to 13%
of the value share of total hand set market and it is expected to increase to
35% to 40% over a period of next 3 years. Optiemus is one of the largest player
in the industry and has been investing in distribution network heavily over the
past 5 years and having an excellent track record of cash profits. They are one
of the few companies in this space and size to make cash profits.
BUSINESS SEGMENT –
INFRASTRUCTURE
India’s growing
economy is placing huge demands on critical infrastructure – power, roads,
railways, ports, transportation systems, and water supply and sanitation. India
has the second largest road network in the world with a road length of 4.24
million km. Also, India’s road density is among the highest in the world with
1.29 km of roads per sq. km of area. India’s national highways and expressways
constitute about 1.67 per cent of the road length, and the percentage of paved
roads is 49.3 per cent. Moreover, India’s road freight volumes are increasing
at a compounded annual growth rate (CAGR) of 9.08 per cent coupled with the
boost in the population of vehicles (all types) at a CAGR of 10.76 per cent. In
order to cater to such burgeoning needs, road length is increasing at a CAGR of
4.01 per cent.
Also, owing to
rapid increase in motorization and urbanization, the Indian Government is
leaving no stone unturned to enhance the road network. As a result of the
initiatives taken, the total road length in India has increased eight times
over the past four decades.
BUSINESS OUTLOOK:
TELECOM SECTOR -
PIVOTAL FOR FUTURE GROWTH
Telecom Sector is
pivotal to the socioeconomic development. The global telecommunication industry
is witnessing a fundamental change. The new Mobile Handsets aims at faster data
connectivity, video streaming with high resolution, and rich multimedia
applications. They at Optiemus are vibrant to this shift.
TELECOM SECTOR AS
A CATALYST
The telecom Sector
is one of the main catalysts of the accelerated growth and progress of
different segments of the economy by narrowing access gaps and removing
barriers to information. Their enhanced network capabilities and national
footprint makes us preferred carrier choice amongst other players.
FIXED ASSETS:
- Land
- Building
- Office Equipment
- Computers
- Plant and Machinery
- Furniture and Fixture
- Motor Vehicles
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.61.15 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.