1. Summary Information
|
Country |
India |
||
|
Company Name |
INDUS TOWERS
LIMITED |
Principal Name 1 |
Mr. Akhil Kumar Gupta |
|
Status |
Good |
Principal Name 2 |
Mr. Indrajit Walia |
|
Registration # |
55-170574 |
||
|
Street Address |
Bharti Crescent,
1, Nelson Mandela Road, Vasant Kunj, Phase – II, New Delhi – 110070 |
||
|
Established Date |
20.11.2007 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Service |
|
Fax # |
91-124-4289333 |
Business Style 2 |
--- |
|
Homepage |
Product Name 1 |
Telecommunication Network Infrastructure Services |
|
|
# of employees |
Not Divulged |
Product Name 2 |
--- |
|
Paid up capital |
Rs. 1,000,000/- |
Product Name 3 |
--- |
|
Shareholders |
Bodies corporate – 100% |
Banking |
Bank Of India |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A (63) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Joint venture |
India |
Bharti Infratel Limited |
--- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
37881,000,000 |
Current Liabilities |
53667,000,000 |
|
Inventories |
0 |
Long-term Liabilities |
78950,000,000 |
|
Fixed Assets |
121537,000,000 |
Other Liabilities |
31308,000,000 |
|
Deferred Assets |
0 |
Total Liabilities |
163925,000,000 |
|
Invest& other Assets |
6767,000,000 |
Retained Earnings |
2259,000,000 |
|
|
|
Net Worth |
2260,000,000 |
|
Total Assets |
166185,000,000 |
Total Liab. & Equity |
166185,000,000 |
|
Total Assets (Previous Year) |
162,220,000,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
131736,000,000 |
Net Profit |
78388,000,000 |
|
Sales(Previous yr) |
9039,000,000 |
Net Profit(Prev.yr) |
6874,000,000 |
MIRA INFORM REPORT
|
Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDUS TOWERS LIMITED (w.e.f.28.03.2008) |
|
|
|
|
Formerly Known
As : |
INDUS INFRATEL LIMITED |
|
|
|
|
Registered
Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase – II, New
Delhi – 110070 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.11.2007 |
|
|
|
|
Com. Reg. No.: |
55-170574 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92100DL2007PLC170574 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI06654E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI7776B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Provide network
development services, engage in video, voice, data and internet transmission
business. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 9040000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Bharti Infratel Limited, Vodafone
India Limited, and Aditya Birla Telecom Limited. It is a well-established and a reputed company having a fine track
record. Financial position of the company is sound. Further the rating also take into consideration the company strong
competitive position, with the largest number of tower industry. Trade relations are reported as decent. Business is active. Payment
terms are regular and as per commitment. The company can be considered normal 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: AA |
|
Rating Explanation |
High degree of safety. It carry very low credit risk. |
|
Date |
26.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Strongest degree of safety. It carry lowest credit risk. |
|
Date |
26.08.2013 |
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
|
Name : |
Mr. Rajinder Kumar |
|
Designation : |
Legal Department |
|
Contact No.: |
91-124-4296766 |
|
Date : |
13.03.2014 |
LOCATIONS
|
Registered Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase – II, New
Delhi – 110070, Delhi, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
91-124-4289333 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Building No.10, Tower A, 4th Floor, |
|
Tel. No.: |
91-124-4296766 |
|
Fax No.: |
91-124-4289333 |
|
|
|
|
Branches : |
Located at: ·
·
Rajasthan ·
·
·
Kolkata ·
Karnataka ·
Andhra Pradesh ·
Chennai ·
Rest of Tamilnadu ·
Kerala ·
Mumbai ·
Rest of West Bengal ·
Maharashtra ·
Goa |
DIRECTORS
As on 30.04.2013
|
Name : |
Mr. Akhil Kumar Gupta |
|
Designation : |
Director |
|
Address : |
B – 27, Maharani Bagh, New Delhi – 110065, India |
|
Date of Birth/Age : |
22.12.1955 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
20.11.2007 |
|
DIN No.: |
00028728 |
|
|
|
|
Name : |
Mr. Indrajit Walia |
|
Designation : |
Director |
|
Address : |
C-1, Greater Kailash Enclave, New Delhi-110 048, NCT of Delhi, India |
|
Date of Birth/Age : |
17.05.1958 |
|
Qualification : |
Economics and Accounting Guaduate, Post Graduate Degree in HR |
|
Date of Appointment : |
07.12.2007 |
|
DIN No.: |
01812849 |
|
|
|
|
Name : |
Mr. Sanjay Kapoor |
|
Designation : |
Director |
|
Address : |
709 A, Beverly Park-I, DLF, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
28.02.1962 |
|
Qualification : |
Bachelor's degree in Commerce (Hons), MBA, Graduate of the Wharton Advanced Management Programme |
|
Date of Appointment : |
17.04.2009 |
|
DIN No.: |
01973450 |
|
|
|
|
Name : |
Mr. Nicholas Jonathan Read |
|
Designation : |
Director |
|
Address : |
8, Cresta Queen Shill Rise, Ascot, SL57 DP, United Kingdom |
|
Date of Birth/Age : |
29.09.1964 |
|
Qualification : |
F.C.M.A, B.A(Hons) accounting & finance |
|
Date of Appointment : |
06.01.2009 |
|
DIN No.: |
02392270 |
|
|
|
|
Name : |
Mr. Marten Pieters |
|
Designation : |
Director |
|
Address : |
Room No. 801, Taj Wellin Gaton, Mews 33, Nathalal, Parekh Marg, Colaba, Mumbai-400001, Maharashtra, India |
|
Date of Birth/Age : |
29.04.2009 |
|
Qualification : |
Law degree from Groningen University, Netherland and Post graduate course in Economins |
|
Date of Appointment : |
20.07.2011 |
|
DIN No.: |
02598456 |
|
|
|
|
Name : |
Ms. Akshaya Mondra |
|
Designation : |
Director |
|
Address : |
601, 6th Floor, Sangeeta Apartments, 15 Roads, Santacruz (West), Mumbai-400 054, Maharasahtra, India |
|
Date of Birth/Age : |
29.04.1963 |
|
|
B. Com, Chartered Accountant and Company Secretary |
|
Date of Appointment : |
08.04.2009 |
|
DIN No.: |
02606784 |
|
|
|
|
Name : |
Mr. Colman Martin Deegan |
|
Designation : |
Director |
|
Address : |
First Floor, Flat Regent House, 106-108, Marylebone, High Street, London W1U4RT |
|
Date of Birth/Age : |
01.06.1973 |
|
Qualification : |
1. Leaving Certificate, St. Mary's CBS Portlaoise, Ireland 2. Bachelor of Business Studies (2.1), Trinity College Dublin, MCT 3. Association of Corporate Treasurers examinations |
|
Date of Appointment : |
15.11.2011 |
|
DIN No.: |
02881006 |
|
|
|
|
Name : |
Mr. Sunil Sood |
|
Designation : |
Director |
|
Address : |
Flat No.2401/2402, Petit Towers, August, Kranti Marg, Kemps Corner, Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
09.02.1961 |
|
Qualification : |
PGDM from IIM, Calcutta and B.Tech from IIT, Delhi |
|
Date of Appointment : |
06.01.2012 |
|
DIN No.: |
03132202 |
|
|
|
|
Name : |
Mr. Himanshu Kapania |
|
Designation : |
Director |
|
Address : |
B1/423, Janak Puri, New Delhi-110058, India |
|
Date of Birth/Age : |
23.04.1961 |
|
Qualification : |
Indian Institute of management, Bangalore and BE from BITS |
|
Date of Appointment : |
06.01.2012 |
|
DIN No.: |
03387441 |
|
|
|
|
Name : |
Mr. Srinivas Kondethimmanapalli |
|
Designation : |
Director |
|
Address : |
A-5/ 1102, Unitech World, SPA (East), Sector 30/41, Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
02.09.1963 |
|
Qualification : |
BE from REC Trichy and PGDM IIM Bangalore |
|
Date of Appointment : |
18.10.2011 |
|
DIN No.: |
03533535 |
|
|
|
|
Name : |
Mr. Rakesh Bharti Mittal |
|
Designation : |
Director |
|
Address : |
B 27, Maharani Bagh, New Delhi-110065, NCT of Delhi, India |
|
Date of Birth/Age : |
22.12.1955 |
|
Date of Appointment : |
04.09.2013 |
|
DIN No.: |
00042494 |
|
|
|
|
Name : |
Mr. Rajat Kumar Mukarji |
|
Designation : |
Alternate director |
|
Address : |
109a, Hamilton Court, DLF City Phase –Iv, Gurgaon – 122009, Haryana, India |
|
Date of Birth/Age : |
19.05.1953 |
|
Date of Appointment : |
22.11.2013 |
|
DIN No.: |
02334172 |
|
|
|
|
Name : |
Mr. Rajiv Kohli |
|
Designation : |
Alternate director |
|
Address : |
Tower 4, Flat No 1401, Vipul Belmounte, Golf Course Road, Sec-53, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
05.12.1960 |
|
Date of Appointment : |
22.11.2013 |
|
DIN No.: |
05307604 |
KEY EXECUTIVES
|
Name : |
Mr. Rajinder Kumar |
|
Designation : |
Company Secretary and Legal
Department |
|
Address : |
C-476, SFS Flats, Sheikh Sarai, Phase-I, New Delhi-110017, India |
|
Date of Birth/Age : |
01.01.1960 |
|
Date of Appointment : |
15.01.2009 |
|
PAN No.: |
AAAPK2076N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.04.2013
|
Names of Shareholders |
|
No. of Shares |
|
Bharti Infratel Limited, India |
|
499980 |
|
Gupta Kumar Akhil (Nominee of Bharti Infratel Limited, India) |
|
10 |
|
Gupta Narendra (Nominee of Bharti Infratel Limited, India) |
|
10 |
|
Vodafone India Limited, India |
|
499980 |
|
Vodafone Mobile Services Limited, India Jointly with Vodafone India
Limited, India |
|
10 |
|
Vodafone East Limited, India Jointly with Vodafone India Limited,
India |
|
10 |
|
Adity Birla Telecom Limited, India |
|
190470 |
|
Total |
|
1190470 |
As on 30.04.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide network
development services, engage in video, voice, data and internet transmission
business. |
||||
|
|
|
||||
|
Products / Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Bank Of India, New
Delhi Large Corporate Branch,37, Shaheed Bhagat Singh Marg, New Delhi -
110070,Delhi, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note : Long Term
Borrowing (A) Secured term Loan from bank = 33810.000 Millions (B) Secured term Loan from bank = 42737.000 Millions (A) Secured term loan from Financial Institution : 43085.000 Millions (B) Secured term loan from Financial Institution : 14138.000 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
|
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower Bslf Cyber City,
Phase-Ii,
Gurgaon,
Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB0630K |
|
|
|
|
Joint venture : |
CIN No.: L32100GJ1996PLC030976
CIN No.: U64201DL2006PLC156038
CIN No.: U32200MH1992PLC119108
CIN No.: U64202MH2005PLC158190
CIN No.: U64201DL2006PLC15603
CIN No.: L74899DL1995PLC070609 |
CAPITAL STRUCTURE
As on 30.04.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Re.1/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1190470 |
Equity Shares |
Re.1/- each |
Rs. 1.190 Million |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Re.1/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Re.1/- each |
Rs. 1.000 Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
2,259.000 |
10,543.000 |
3,916.000 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2,260.000 |
10,544.000 |
3,917.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
76,895.000 |
56,875.000 |
88,500.000 |
|
(b) Deferred tax liabilities
(Net) |
4,934.000 |
4,290.000 |
1,784.000 |
|
(c) Other long term
liabilities |
9,054.000 |
14,940.000 |
14,534.000 |
|
(d) long-term provisions |
6,929.000 |
3,244.000 |
2,932.000 |
|
Total
Non-current Liabilities (3) |
97,812.000 |
79,349.000 |
107,750.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2,055.000 |
30,400.000 |
23,869.000 |
|
(b) Trade payables |
40,572.000 |
26,859.000 |
11,565.000 |
|
(c) Other current liabilities |
17,320.000 |
15,068.000 |
6,649.000 |
|
(d) Short-term provisions |
6,166.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
66,113.000 |
72,327.000 |
42,083.000 |
|
|
|
|
|
|
TOTAL |
166,185.000 |
162,220.000 |
153,750.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
121,126.000 |
113,555.000 |
110,605.000 |
|
(ii) Intangible Assets |
411.000 |
485.000 |
461.000 |
|
(iii) Capital work-in-progress |
2,267.000 |
2,850.000 |
3,083.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8,229.000 |
5,310.000 |
4,327.000 |
|
(e) Other Non-current assets |
5,658.000 |
4,732.000 |
3,896.000 |
|
Total
Non-Current Assets |
137,691.000 |
126,932.000 |
122,372.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
4,500.000 |
6,100.000 |
5,250.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
3,070.000 |
5,650.000 |
8,771.000 |
|
(d) Cash and cash equivalents |
1,142.000 |
716.000 |
225.000 |
|
(e) Short-term loans and
advances |
5,704.000 |
10,796.000 |
7,731.000 |
|
(f) Other current assets |
14,078.000 |
12,026.000 |
9,401.000 |
|
Total
Current Assets |
28,494.000 |
35,288.000 |
31,378.000 |
|
|
|
|
|
|
TOTAL |
166,185.000 |
162,220.000 |
153,750.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
131,736.000 |
78,388.000 |
69,608.000 |
|
|
Other Income |
2,005.000 |
841.000 |
688.000 |
|
|
TOTAL
(A) |
133,741.000 |
79,229.000 |
70,296.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Expenditure on production, transportation and other expenditure
pertaining to E&P activities |
10,712.000 |
11,674.000 |
0.000 |
|
|
Employees benefits expense |
2,363.000 |
1,786.000 |
1,649.000 |
|
|
Other expenses |
81,072.000 |
30,138.000 |
38,331.000 |
|
|
TOTAL
(B) |
94,147.000 |
43,598.000 |
39,980.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
39,594.000 |
35,631.000 |
30,316.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9,369.000 |
9,667.000 |
9,437.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30,225.000 |
25,964.000 |
20,879.000 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
16,471.000 |
15,850.000 |
14,036.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
13,754.000 |
10,114.000 |
6,843.000 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
4,715.000 |
3,240.000 |
2,289.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
9,039.000 |
6,874.000 |
4,554.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
|
Basic |
7,592.80 |
5,773.82 |
3,824.97 |
|
|
Diluted
|
7,592.80 |
5772.65 |
3823.53 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.76
|
8.68
|
6.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.44
|
12.90
|
9.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.39
|
6.35
|
4.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
6.09
|
0.96
|
1.75 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
34.93
|
8.28
|
28.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.43
|
0.48
|
0.75 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
3,916.000 |
10,543.000 |
2,259.000 |
|
Net
worth |
3,917.000 |
10,544.000 |
2,260.000 |
|
|
|
|
|
|
long-term borrowings |
88,500.000 |
56,875.000 |
76,895.000 |
|
Short term borrowings |
23,869.000 |
30,400.000 |
2,055.000 |
|
Total
borrowings |
112,369.000 |
87,275.000 |
78,950.000 |
|
Debt/Equity
ratio |
28.688 |
8.277 |
34.934 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
69,608.000 |
78,388.000 |
131,736.000 |
|
|
|
12.613 |
68.056 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
69,608.000 |
78,388.000 |
131,736.000 |
|
Profit After Tax |
4,554.000 |
6,874.000 |
9,039.000 |
|
|
6.54% |
8.77% |
6.86% |
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 |
Yes |
|
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 :
Registered office of
the company has been shifted from Aravali Cresent, 1, Nelson Mandela Road, Vasant
Kunj, Phase II, New Delhi – 110070, Delhi, India to the present address w.e.f.
11.05.2010.
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10403631 |
22/06/2013 * |
95,656,250,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA |
B77959690 |
* Date of charge modification
BACKGROUND
Subject was
incorporated in India on 20 November 2007 as Indus Infratel Limited. A fresh
certificate of incorporation consequent to the change in name to Indus Towers Limited
was issued by the Registrar of Companies, Delhi on 28 March 2008 under section
23(1) of the Companies Act, 1956. The Company was set-up with the object of,
inter-alia, establishing, operating and maintaining wireless communication
towers, provide network development services, engage in video, voice, data and
internet transmission business.
MERGER
The scheme of
arrangement amongst Vodafone Infrastructure Limited, Bharti Infratel Ventures
Limited, Idea Cellular Towers Infrastructure Limited and the company for
transfer and vesting of all assets and liabilities to the company with
appointed date as 1st April, 2009 and as approved by shareholders and creditors
of the company has also been sanctioned as per order dated 18 April, 2013
passed by the Hon’ble High Court of Delhi. The company is yet to receive a
certified copy of the said order from the Hon’ble High Court and hence, the
financial results do not include the impact of the scheme.
AWARDS AND RECOGNITIONS
The company
received various awards and recognitions, including the following, during the
period under review;
1. Tele.net
Telecom Operators Awards 2012, Best Infrastructure Provider
2. AEGIS Graham
Bell Awards 2012 For INDUS I-CAP Program Green Telecom
3. Indus bagged
the Voice and Data 100 Top Telecom Tower Company Award in 2012
4. Frost &
Sullivan India ICT - Passive Infrastructure Provider of the Year 2012
5. Airtel Award
for Green Initiatives Award 2012
6. Amity Telecom
Awards 2013 for Excellence in the category of Top Telecom Company of the Year.
7. ET Now World
CSR Awards 2013 for Best CSR Practices
8. GSMA Global
Mobile Award, The Green Mobile Award for Indus Green Sites Project
9. Vodafone
Certificate of Appreciation for outstanding commitment, dedication &
support
10. Tele.net Award
2013, Best Infrastructure Provider
OVERVIEW
During the year,
the company continued to enjoy its position as the leading telecom
infrastructure provider and playing key role in promoting sharing of passive
infrastructure and enabling enhanced tele-density in the country. Key
highlights for the period under review are as follows:-
- Achieved profit after tax of Rs. 9,039.000 Million and EBITDA of
Rs. 50,306.000 million;
- Passive infrastructure support for latest technologies like third
generation (3G) telephony, BWA technology, IBS as adopted by telecom
operators;
- Maintained average network uptime of above 99.95% during the year;
- Continued focus on environment, safety and health.
- Successfully executed, Green City Concept, under which select
cities are functioning without any use of diesel.
- Moving towards renewable
sources of energy.
- Adopted other environmental initiatives like enhancing electricity
supply at the sites, augmenting battery bank and increasing deployment of
free cooling units in order to reduce carbon emission.
UNSECURED LOANS
(Rs.
In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
|
Short term
borrowing |
|
|
|
Loans repayable on demand from:* |
|
|
|
- related parties |
2055.000 |
22149.000 |
|
- others |
0.000 |
8251.000 |
|
Total |
2055.000 |
30400.000 |
(A)
*These loans were taken from banks and financial
institutions on an interest rate varying from 10.5% to 11.08% per annum
approximately. These loans have been re-paid by the Company during the year
ended 31 March 2013.
(B)
Interest
free loan repayable on demand from others= 3251 other = 5000
CONTINGENT
LIABILITY
(Rs.
in millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
|
Claims against
the Company not acknowledged as debts it represents amounts levied by various
local authorities. The Company has challenged these levies in the court of
law. In the event these levies are confirmed by law, the Company would
recover these amounts from its customers in accordance with the Master
Service Agreements. |
666 |
284.000 |
|
Claims against the company on account of tax notices, pending
adjudication, not acknowledged as debts |
3,536 |
3296.000 |
|
Other Claims against the Company not acknowledged as debts. |
170 |
79 |
Certain disputed
tax demand notices and show cause notices relating to Indirect taxes matters
amounting to Rs. 41,718.000 millions (As at 31 March 2012 Rs. 39,385.000
millions) have neither been acknowledged as claims nor considered as contingent
liabilities, based on internal assessment and independent advice taken from tax
experts, the Company is of the view that the possibility of any of these tax
demands materializing is remote.
Note :
The registered office of the company has been shifted from Aravali
crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase – II, New Delhi – 110070,
Delhi, India to the present address w.e.f. 11.05.2010.
FIXED ASSETS:
Ø Freehold land
Ø
Leasehold Improvements
Ø
Plant and Equipment
Ø
Furniture and Fixtures
Ø Vehicles
Ø Office Equipment
Ø Computers
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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.