MIRA INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GEMINI COMMUNICATION LIMITED |
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Registered
Office : |
New
No. 1, (Old No.56) Dr. Ranga Road, Alwarpet, Chennai – 600018, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.02.1995 |
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Com. Reg. No.: |
18-030087 |
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Capital Investment
/ Paid-up Capital : |
Rs.123.895 Millions |
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CIN No.: [Company Identification
No.] |
L32301TN1995PLC030087 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Subject is wireless broadband system provider. The company is engaged
in the provision of network product and related services. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8100000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track. The company has incurred loss from its operational activities during
the financial year 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank Goldman
Sachs has upgraded its outlook on Indian markets as it expects positive impact
of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-44-24660570
LOCATIONS
|
Registered Office : |
New
No. 1, (Old No.56) Dr. Ranga Road, Alwarpet, Chennai – 600018, Tamilnadu,
India |
|
Tel. No.: |
91-44-24660570/ 24660571 |
|
Fax No.: |
91-44-24995062 |
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E-Mail : |
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Website : |
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Branch Office : |
Located At: ·
Chennai ·
·
·
·
·
Mumbai ·
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International Office : |
Located At: ·
US ·
|
DIRECTORS
(AS ON 31.03.2013)
|
Name : |
Mr.
R. Vijaykumar |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr.
R. Ramkumar |
|
Designation : |
Whole-time Director |
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|
Name : |
Mr. Eswaran Annamalai |
|
Designation : |
Director |
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|
Name : |
Dr. V. Aravind |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V. J. Chandran |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. M. Raju |
|
Designation : |
Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2014)
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
46071053 |
37.19 |
|
|
46071053 |
37.19 |
|
|
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
46071053 |
37.19 |
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
22000 |
0.02 |
|
|
2757705 |
2.23 |
|
|
25559209 |
20.63 |
|
|
28338914 |
22.87 |
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|
|
|
|
|
|
|
|
|
19809866 |
15.99 |
|
|
|
|
|
|
|
|
|
|
17761049 |
14.34 |
|
|
11485603 |
9.27 |
|
|
428218 |
0.35 |
|
|
428218 |
0.35 |
|
|
49484736 |
39.94 |
|
|
|
|
|
Total Public shareholding (B) |
77823650 |
62.81 |
|
|
|
|
|
Total (A)+(B) |
123894703 |
100.00 |
|
|
|
|
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
|
|
|
Total (A)+(B)+(C) |
123894703 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is wireless broadband system provider. The company is engaged
in the provision of network product and related services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
·
Bank of India Chennai
Mid Corporate Branch, IV Floor, Tarapore Tower, 826/6, Anna Salai Chennai -
600002, Tamil Nadu, India ·
State
Bank of India Industrial Finance
Branch 155, Anna Salai, Chennai – 600002, Tamilnadu, India ·
Union Bank of India Mount Road Branch,
152, Anna Salai, Chennai – 600002, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. Ramanath Chartered Accountants |
|
Address : |
Proprietor M/s. Ramanath and Company, 1A, East
Street Agraharam, Singanallur, Coimbatore – 641005, India, Tamilnadu, India |
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Associates/Subsidiaries : |
·
Gemini Traze RFID Private Limited, Chennai ·
Point Red Telecom Private Limited, Bangalore ·
Gemini Geoss Energy Private Limited, Chennai ·
Gemini Infotech Limited, Hong Kong ·
PR Wireless Tech Limited, Hong Kong ·
Gemini FTZ, Dubai |
CAPITAL STRUCTURE
(AS ON 31.03.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.1/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
123894703 |
Equity Shares |
Rs.1/- each |
Rs.123.895
Millions |
|
|
|
|
|
a.
Reconciliation of number of shares
|
Particulars |
As on 31.03.2013 |
|
|
|
No of Shares |
Amount (Rs. In
Millions) |
|
Equity Shares |
|
|
|
Operating Balance (Face Value Rs.1/-) |
1064.97 |
106.497 |
|
Issue of Shares |
197.47 |
19.747 |
|
Buyback of Shares |
23.49 |
2.349 |
|
Closing Balance |
1238.95 |
123.895 |
b. Shares held by holding
company, its subsidiaries and associates
The company does not have
any holding company.
c. Rights, preferences and
restrictions attached to equity shares
The company has one class
of equity shares having a face value of Rs.1/- per share. Each shareholder is
eligible for one vote for each share held in the company. The dividend proposed
by the Board of Directors is subject to approval of the shareholders in the
ensuing Annual General Meeting, except in case of interim dividend. In the
event of liquidation, the equity shareholders are eligible to receive the
remaining assets of the company after distribution of all preferential amounts,
in proportion to their shareholding.
d. Details of equity shares
held by shareholders holding more than 5% of the aggregate shares in the
Company
|
Name
of the shareholder |
As on 31.03.2013 |
|
|
|
No of Shares |
% of Share
Capital |
|
Ramamurthy Vijayakumar |
29,468,809 |
23.79% |
|
Radhika Vijaykumar |
10,952,304 |
8.84% |
|
Ramamurthy Ramkumar |
5,649,940 |
4.56% |
|
Merrill Lynch International |
19,746,885 |
15.94% |
|
GPC Mauritius II LLC |
12,500,000 |
10.09% |
|
Rhodes Diversified |
NIL |
NIL |
e.
Shares allotted as fully paid up by way of bonus shares (during the 5 years
preceding 31st March 2013)
(96,68,000
shares were issued as fully paid bonus shares during the year 2007-08 by
capitalising Profit and Loss A/c)
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 |
123.895 |
106.497 |
106.898 |
|
(b) Reserves & Surplus |
1897.913 |
1114.414 |
1104.955 |
|
(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) |
2021.808 |
1220.911 |
1211.853 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
449.431 |
512.140 |
547.280 |
|
(b) Deferred tax liabilities (Net) |
88.832 |
115.548 |
119.900 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
538.263 |
627.688 |
667.180 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1314.826 |
1490.482 |
1337.584 |
|
(b) Trade
payables |
1106.114 |
1945.523 |
2401.521 |
|
(c) Other
current liabilities |
198.334 |
180.289 |
186.048 |
|
(d) Short-term
provisions |
57.000 |
63.205 |
72.800 |
|
Total Current
Liabilities (4) |
2676.274 |
3679.499 |
3997.953 |
|
|
|
|
|
|
TOTAL |
5236.345 |
5528.098 |
5876.986 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
263.436 |
354.455 |
445.438 |
|
(ii)
Intangible Assets |
342.744 |
568.062 |
437.286 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
538.362 |
558.884 |
557.885 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1144.542 |
1481.401 |
1440.609 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
597.237 |
589.283 |
695.244 |
|
(c) Trade
receivables |
1990.754 |
2184.159 |
2671.545 |
|
(d) Cash
and cash equivalents |
0.424 |
129.666 |
164.235 |
|
(e) Short-term
loans and advances |
1360.553 |
931.544 |
798.186 |
|
(f) Other
current assets |
142.835 |
212.045 |
107.167 |
|
Total
Current Assets |
4091.803 |
4046.697 |
4436.377 |
|
|
|
|
|
|
TOTAL |
5236.345 |
5528.098 |
5876.986 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1397.387 |
2849.015 |
3161.628 |
|
|
|
Other Income |
0.569 |
11.437 |
6.471 |
|
|
|
TOTAL (A) |
1397.956 |
2860.452 |
3168.099 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials and project expenses |
0.000 |
0.000 |
2606.149 |
|
|
|
Increase/Decrease in stock |
0.000 |
0.000 |
(352.252) |
|
|
|
Employee Benefits Expenses |
203.061 |
288.819 |
220.048 |
|
|
|
Operation and Other Expenses |
667.635 |
1912.574 |
63.030 |
|
|
|
TOTAL (B) |
870.696 |
2201.393 |
2536.975 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
527.260 |
659.059 |
631.124 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
205.714 |
286.598 |
258.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
321.546 |
372.461 |
373.063 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
316.335 |
354.526 |
244.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
5.211 |
17.935 |
128.493 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.015 |
(0.768) |
30.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(19.804) |
18.703 |
97.935 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
NA |
10.690 |
|
|
|
Tax on Dividend |
NA |
NA |
1.775 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
85.470 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
F.O.B. Value of Imports |
0.000 |
433.942 |
1073.371 |
|
|
TOTAL IMPORTS |
0.000 |
433.942 |
1073.371 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.17) |
0.18 |
0.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.42)
|
0.65 |
3.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.37
|
0.63 |
4.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.11
|
0.36 |
2.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.01 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.87
|
1.64 |
1.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.10 |
1.11 |
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 |
106.898 |
106.497 |
123.895 |
|
Reserves & Surplus |
1104.955 |
1114.414 |
1897.913 |
|
Net worth |
1211.853 |
1220.911 |
2021.808 |
|
|
|
|
|
|
long-term borrowings |
547.280 |
512.140 |
449.431 |
|
Short term borrowings |
1337.584 |
1490.482 |
1314.826 |
|
Total borrowings |
1884.864 |
2002.622 |
1764.257 |
|
Debt/Equity ratio |
1.555 |
1.640 |
0.873 |
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) |
|
Revenue from Operations |
3161.628 |
2849.015 |
1397.387 |
|
|
|
(9.888) |
(50.952) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
3161.628 |
2849.015 |
1397.387 |
|
Profit |
97.935 |
18.703 |
(19.804) |
|
|
3.10% |
0.66% |
(1.42%) |
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 |
No |
|
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 |
Yes |
|
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 |
No |
------------------------------------------------------------------------------------------------------------------------------
CHENNAI COURT
CASE STATUS
INFORMATION SYSTEMS
|
Case Status: |
Pending |
|
|
|
|
Status of: |
Civil Suits |
|
Case No.: |
298 |
|
Year: |
2009 |
|
Petitioner: |
M/s. TVS-E Services Limited |
|
Respondent: |
M/s. Gemini Communications Limited |
|
Pet’s Advocate: |
M/s. S. R. Senthilkumar |
|
Res’s Advocate: |
M/s. J. Sivanandaraj |
|
Category |
Money Suits |
|
|
Last Listed on: Mo Date Mentioned |
|
|
|
|
Case Updated On: |
December 27, 2011 |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
6%
Convertible Bonds 2012 |
0.000 |
823.050 |
|
|
|
|
|
Total |
0.000 |
823.050 |
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
Financial Performance
Financial Year 2012-13 has
been a difficult one in terms of the operating business environment amidst
global economic uncertainties and disturbances in many parts of the world.
During financial year
2012-13, the company on a standalone basis registered revenue of Rs.1397.960
million and a Profit before Tax of Rs.5.210 million. On a consolidated basis,
the company registered revenue of Rs.3350.410 million and a Profit before Tax
of Rs.321.420 million. Earnings per share stood at Rs.2.33.
TELECOM SERVICES GROUP
BUSINESS OUTLOOK
Gemini TSG continues to
understand the telecommunication field services and deliver towards customer
satisfaction, as done in its earlier years, in India. Gemini TSG had
strengthened its team towards enabling them with deep knowledge of the Indian
telecommunication market, information on service providers and equipment
manufacturers. Gemini TSG continues its partnership with all its key customers,
year-on-year, and had been evaluated high on periodic performance measures.
Gemini TSG had been among the few companies who had been consistently serving
its customers, even during the last year hurdles in telecom market.
Gemini TSG’s continued
expertise in planning, deployment and field operations, has positioned it as a
preferred partner with many leading service providers. The added service
capabilities of performance audit, energy audit and managed services, which is
driven by its systems and processes, creates its customer value.
Gemini TSG continues to maintain
its customers in telecom domain, to their satisfaction, which enables them to
get referral service opportunities from existing telecom customers.
Gemini TSG continued to
undertake wide range of assignments on demand forecast, network planning, network
delivery and network maintenance. The experience and skill set, we are able to
apply includes:
·
Hands-on experience in the design, development and
implementation of wired and wireless telecom networks
·
Proven expertise record in 150+ cities
·
Wide experience in services for various telecom
active equipment
·
Well versed in handling managed services
·
Driven by CMM level systems and process
·
Pan India presence
Gemini TSG has continued long years of experience in offering radio
network services for leading services providers and equipment manufacturers.
Gemini TSG handles projects in Point-to-point, 3G, GSM, CDMA, etc. Gemini TSG
created environment for the young talent to develop and deliver services to its
customers, thereby sustaining its competitive advantage.
Given the fact that the urban areas have significantly high teledensity
as compared to the rural areas, much of the incremental subscriber’s growth,
going forward, would have to be driven by addition of rural subscribers. But
the rate of penetration of mobile services in the rural areas being slow,
overall incremental subscriber growth is likely to slow down.
With revenues from voice
services stagnating, future growth is likely to be driven by wireless data
services. Telcos have already invested significantly in acquiring spectrum for
third generation (3G) and broadband wireless access (BWA) and are now expanding
their footprint across the country, albeit cautiously. Till date, revenues from
data services remain significantly low in India vis-ŕ-vis other countries
largely because of the relatively high pricing; lack of handset affordability
and limited content availability.
Besides data, the telecom
operators have been looking at other services to bolster their top line. Some
business segments that have emerged as important revenue drivers for the
industry are: enterprise communications, broadband services, direct-to-home
(DTH) and data centres. While each segment has its own set of competitors, the
telcos have an advantage, given their established subscriber base, network
deployment and technological knowhow.
Telcos have invested
heavily for acquiring 3G licenses and rolling out a network for it. But
adoption of 3G services has been lower than expected primarily due to the low
penetration of compatible handsets and high cost of data services. However,
Gemini TSG expects faster adoption of these services in the near term as
operators have slashed 3G usage charges significantly. Additionally,
availability of a wide variety of affordable mobile devices will boost demand
of data services.
Gemini TSG expects the FY
13-14 with high services offered on LTE, along with its current services
offering on other technology.
Why Service providers
prefers Gemini TSG for their field services:
·
Largest field services partner for wireless
networks
·
Proven ability to deliver
services and projects to customers in India
·
Servicing entire life-cycle
of active wireless infrastructure services (RF Planning, RF survey, RF
maintenance, RFNOC services, RF Managed Services, RF Optimization)
·
Strategic partnerships with
equipment manufacturers to train their team
·
High Employee retention
ratio within the industry (96%)
·
Existing relationship with
leading data and voice services providers, for services
·
Expertise in Project
Management services to provide the clients end-to-end telecom services
·
Nationwide presence
·
Implemented and
implementing many green-field Radio networks (P2MP / MMDS / 3G
·
Multi-technology,
Multi-vendor expertise across core, edge and access networks
·
Experience across various
stages of business lifecycle
·
24 x 7 services for network
maintenance
BUSINESS
HIGHLIGHTS
·
Continued to renew its services contract with all
its customers and extend the partnership
·
Rated as preferred partner by its major customers
·
Ability to offer the whole range of active telecom
network architecture services
·
Evaluated with an overall score of 97% by leading
global telecom equipment manufacturer
·
Evaluated with “Green-Category” by a leading Indian
broadband service provider
·
Retained its focus on consultancy services
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10408558 |
17/01/2013 |
50,000,000.00 |
Bank of India |
Chennai MID Corporate
Branch, Chennai, Chennai, Tamil Nadu - 600002, INDIA |
B69798221 |
|
2 |
10335988 |
23/12/2011 |
881,300,000.00 |
PUNJAB NATIONAL BANK |
NO 10 RAJA STREET, T
NAGAR, CHENNAI, TAMIL NADU - |
B32297509 |
|
3 |
10327876 |
28/11/2011 |
173,800,000.00 |
UNION BANK OF INDIA |
152, ANNA SALAI, MOUNT
ROAD BRANCH, CHENNAI, Tamil Nadu - 600002, INDIA |
B29404167 |
|
4 |
10274589 |
01/03/2011 |
300,000,000.00 |
BANK OF INDIA |
CHENNAI MID COPRORATE
BRANCH, 4TH FLOOR, TARAPORE |
B08916397 |
|
5 |
10253937 |
15/12/2010 |
17,960,282.00 |
SREI Equipment Finance
Private Limited |
'VISHWAKARMA, 86C, TOPSIA
ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B00819763 |
|
6 |
10252585 |
28/10/2010 |
26,324,381.00 |
SREI Equipment Finance
Private Limited |
'VISHWAKARMA, 86C, TOPSIA
ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
B00314484 |
|
7 |
10241749 |
23/08/2010 |
900,000,000.00 |
PUNJAB NATIONAL BANK |
7, BHIKHAIJI CAMA PLACE,,
NEW DELHI, DELHI - 110607, INDIA |
A95388823 |
|
8 |
10191458 |
22/03/2013 * |
232,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH,
KARUMUTHU NILAYAM, NO.1 |
B72207491 |
|
9 |
10139198 |
18/12/2008 |
300,000,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE BANKING
BRANCH, IV FLOOR, TARAPORE TOWER, 826, ANNA SALAI, CHENNAI, TAMIL NADU
- |
A55148357 |
|
10 |
10120510 |
23/07/2008 |
118,700,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE BANKING
BRANCH, IV FLOOR, TARAP |
A44867380 |
|
11 |
10116886 |
15/07/2008 |
189,800,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE BANKING
BRANCH, IV FLOOR, TARAP |
A43182997 |
|
12 |
10069183 |
01/09/2007 |
112,500,000.00 |
Bank of India |
CHENNAI CORPORATE BANKING
BRANCH, IV FLOOR, TARAPORE TOWERS, 826, ANNA SALAI, CHENNAI, TAMIL NADU
- |
A23747421 |
|
13 |
10028310 |
28/10/2008 * |
1,902,200,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH,, 155, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
A52995685 |
|
14 |
10047320 |
16/10/2006 |
41,100,000.00 |
Bank of India |
CHENNAI CORPORATE FINANCE
BRANCH, IV FLOOR, TARAPORE TOWERS, 826, ANNA SALAI, CHENNAI, TAMIL NADU
- |
A06467260 |
|
15 |
10020970 |
30/08/2006 |
262,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, 155, ANNA SALAI,, CHEN |
A05282272 |
|
16 |
90288709 |
06/01/2006 |
4,202.00 |
BANK OF INDIA |
CHENNAI CORPORATE BANKING
BRANCH, ANN SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
17 |
90290770 |
10/05/2011 * |
1,481,100,000.00 |
STATE BANK OF INDIA MID
CORPORATE GROUP |
INDUSTRIAL FINANCE
BRANCH, 155, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
B15782378 |
|
18 |
90282494 |
18/03/2011 * |
1,226,200,000.00 |
Bank of India and State
Bank of India |
CHENNAI MID CORP. BRANCH
/ INDL. FINANCE BRANCH, IV FLOOR, 826, ANNA SALAI / 155, ANNA SALAI,
CHENNAI, TAMIL NADU - 600002, INDIA |
B12080917 |
|
19 |
90290440 |
21/09/2005 * |
120,000,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE BANKING
BRANCH, TARAPORE TOWERS; 826; ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
20 |
90283103 |
29/11/2000 |
40,000,000.00 |
BANK OF INDIA |
CCCB BRANCH IV FLOOR TARAPORE
TOWER, 828 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
21 |
90284026 |
30/11/2002 * |
40,000,000.00 |
BANK OF INDIA |
CCCB BRANCH IV FLOOR
TARAPORE TOWER, 828 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture’s and Fixtures
·
Software
·
Project Assets
·
Vehicles
·
Ipr/know-how
·
Xerox Machine
·
Telephone
·
Electrical Fittings
·
Modems
·
Office Equipments
·
Dot Matrix Printers
·
Computer Machinery
·
Networking Equipments
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 records 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.61.11 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.