MIRA
INFORM REPORT
|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED (w.e.f. 07.03.2002) |
|
|
|
|
Formerly Known
As : |
SUKHKATRA FINTRADE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
17.07.1997 |
|
|
|
|
Com. Reg. No.: |
11-166329 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2010.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64203MH1997PLC166329 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELR10472A MUMR16298C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS2157H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Provides wireless multimedia
and internet access services. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “RELIANCE COMMUNICATION LIMITED” and one of
the India’s leading integrated telecommunications service provider. It is an
established company having satisfactory track record. The company has incurred losses from its operational activities. However, the rating takes in to consideration financial and managerial
support that company receives from its parent company and decent capital base
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong holding support, the company can be considered for
business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “A-“ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
17.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term debt: “A2+“ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
17.01.2014 |
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 DENIED
|
Name : |
Mr. Sandeep |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-30386286 |
|
Date : |
22.08.2014 |
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai –
400710, Maharashtra, India |
|
Tel. No.: |
91-22-30386286/ 22847006/ 30385010 |
|
Fax No.: |
91-22-30376622 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Head Quarters : |
A Block, Thane – Belapur Road, Koparkhairane, Navi Mumbai – 400 709,
Maharashtra, India |
|
Tel. No.: |
91-22-30388000 |
|
Fax. No.: |
91-22-30388005 |
|
|
|
|
Branch Office: |
Located at: ·
Mumbai ·
Bangalore ·
Chennai |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Gautam Bhailal Doshi |
|
Designation : |
Director |
|
Address : |
402, Hamilton Court, Tagore Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
23.12.1952 |
|
Qualification : |
FCA |
|
Date of Appointment : |
26.06.2005 |
|
DIN No.: |
00004612 |
|
|
|
|
Name : |
Mr. Hasit Navinchandra Shukla |
|
Designation : |
Director |
|
Address : |
403, Sabita Co-operative Housing Society Limited, Plot No. 596, CTS
F/38, 16th Road, Bandra (West), Mumbai – 400050, Maharashtra,
India |
|
Date of Birth/Age : |
28.08.1962 |
|
Qualification : |
B. Com, FCS, LLB |
|
Date of Appointment : |
13.08.2010 |
|
Voter ID No.: |
ROL3044492 |
|
DIN No.: |
00004549 |
|
|
|
|
Name : |
Mr. Suresh Madihally Rangachar |
|
Designation : |
Director |
|
Address : |
Imperial Tower, Flat No. 3604, 36th Floor, South Wing, B B Nakashe Marg, Tardeo, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1964 |
|
Qualification : |
Master in Computer Science |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
00020887 |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh Lalitbhai Marthak |
|
Designation : |
Dy. Company Secretary and Manager |
|
Address : |
E-301, Lily, Jalvayu Vihar Phase 1, NR Shilp Chowk, Navi Mumbai –
410210, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1975 |
|
Date of Appointment : |
01.08.2010 |
|
PAN No.: |
ACDPM9248D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Equity
Shares |
|
|
|
|
Prakash Shenoy Jointly with Reliance Communications Limited, India |
1 |
|
Anil C Shah Jointly with Reliance Communications Limited, India |
1 |
|
Gaurang Shah Jointly with Reliance Communications Limited, India |
1 |
|
Hitesh Marthak Jointly with Reliance Communications Limited, India |
1 |
|
Hasit Shukla Jointly with Reliance Communications Limited, India |
1 |
|
Hitesh Chawda Jointly with Reliance Communications Limited, India |
1 |
|
Reliance Communication Limited, India |
2009999994 |
|
|
|
|
Total |
2010000000 |
|
Names of Shareholders |
No. of
Preference Shares |
|
|
|
|
Reliance Communication Limited, India |
20000 |
|
|
|
|
Total |
20000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
100.00 |
|
|
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provides wireless
multimedia and internet access services. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Finance Institutions : |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
709, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400 021, |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Ultimate Holding Company : |
Reliance Innoventures Private Limited |
|
|
|
|
Holding Company : |
·
Reliance Communications Limited CIN No.: L45309MH2004PLC147531 |
|
|
|
|
Subsidiary Companies : |
·
Reliance Infratel Limited CIN No.: U72900MH2001PLC131598 · Reliance IDC Limited (Formerly Known as Reliance Communications Investment and leasing Limited) · Reliance BPO Private Limited.(w.e.f. April 30, 2012) |
|
|
|
|
Fellow Subsidiaries : |
· Reliance Wimax Limited · Reliance Webstore Limited · Reliance Communications International Inc. · Reliance Communications Inc. · Reliance Communications Hongkong Limited · Reliance Globalcom Limited, Bermuda and its Subsidiaries · Reliance Communications Canada Inc. · Reliance Communications U.K. Limited · Reliance Communications Australia Pty Limited · Reliance Telecom Limited · Gateway Net Trading Pte. Limited. Singapore · Reliance Big TV Limited · Reliance Tech Services Private Limited · Reliance Globalcom Limited.(w.e.f. July 3,2012) · Reliance Infocomm Infrastructure Private Limited · Vanco Group Limited · M.P. Networks Private Limited (w.e.f. March 21,2013) · Kerala Communication Network Private Limited (w.e.f. March 21,2013) · Reliance Globalcom B.V. The Netherlands |
|
|
|
|
Joint Venture : |
·
Alcatel Lucent Managed Solutions India Private
Limited CIN No.: U64203MH2008PTC182748 |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2400000000 |
Equity Shares |
Re.1/- each |
Rs.2400.000 Millions |
|
10000000 |
Preference Share |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2010000000 |
Equity Shares |
Re.1/- each |
Rs.2010.000 Millions |
|
20000 |
Preference Share |
Rs.10/- each |
Rs.0.200
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 2010.200 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2,010.200 |
2,010.200 |
2,010.200 |
|
(b) Reserves & Surplus |
2,775.800 |
20,403.700 |
28,294.100 |
|
(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) |
4,786.000 |
22,413.900 |
30,304.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
40.700 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
40.700 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
26,298.900 |
30,268.200 |
27,746.700 |
|
(b) Trade payables |
20,910.600 |
11,286.400 |
30,788.100 |
|
(c) Other current liabilities |
40,669.100 |
33,427.400 |
13,839.600 |
|
(d) Short-term provisions |
15.000 |
6.500 |
1,544.500 |
|
Total
Current Liabilities (4) |
87,893.600 |
74,988.500 |
73,918.900 |
|
|
|
|
|
|
TOTAL |
92,720.300 |
97,402.400 |
104,223.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5,606.100 |
7,894.600 |
9,347.000 |
|
(ii) Intangible Assets |
11.600 |
3.100 |
5.200 |
|
(iii) Capital work-in-progress |
1,418.600 |
2,163.100 |
2,112.100 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3,211.600 |
3,261.600 |
3,261.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24,158.100 |
23,493.800 |
21,266.300 |
|
(e) Other Non-current assets |
0.000 |
3,880.000 |
0.000 |
|
Total
Non-Current Assets |
34,406.000 |
40,696.200 |
35,992.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
420.400 |
578.100 |
1,085.700 |
|
(c) Trade receivables |
14,578.900 |
8,097.700 |
10,184.700 |
|
(d) Cash and cash equivalents |
1,309.200 |
1,523.100 |
6,433.400 |
|
(e) Short-term loans and
advances |
36,344.800 |
39,916.700 |
45,264.100 |
|
(f) Other current assets |
5,661.000 |
6,590.600 |
5,263.000 |
|
Total
Current Assets |
58,314.300 |
56,706.200 |
68,230.900 |
|
|
|
|
|
|
TOTAL |
92,720.300 |
97,402.400 |
104,223.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
37,753.100 |
48,075.700 |
42,425.900 |
|
|
Other Income |
4,832.900 |
7,199.200 |
4,768.800 |
|
|
TOTAL
(A) |
42,586.000 |
55,274.900 |
47,194.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
1,848.300 |
863.900 |
2,030.900 |
|
|
Other expenses |
49,857.800 |
55,752.500 |
38,866.100 |
|
|
TOTAL
(B) |
51,706.100 |
56,616.400 |
40,897.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(9,120.100) |
(1,341.500) |
6,297.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
298.300 |
210.200 |
101.300 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(9,418.400) |
(1,551.700) |
6,196.400 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2,720.200 |
4,261.700 |
5,483.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(12,138.600) |
(5,813.400) |
712.700 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
0.000 |
(1,090.300) |
(1,280.800) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
(12,138.600) |
(4,723.100) |
1,993.500 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
18.700 |
4,741.800 |
2,748.300 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(121.199) |
0.187 |
47.418 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
208.000 |
83.600 |
153.900 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(6.04) |
(2.35) |
0.99 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(28.50) |
(8.55) |
4.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(32.15) |
(12.09) |
1.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.78) |
(6.32) |
0.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.54) |
(0.26) |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.50 |
1.36 |
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.76 |
0.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2,010.200 |
2,010.200 |
2,010.200 |
|
Reserves & Surplus |
28,294.100 |
20,403.700 |
2,775.800 |
|
Net
worth |
30,304.300 |
22,413.900 |
4,786.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
27,746.700 |
30,268.200 |
26,298.900 |
|
Total
borrowings |
27,746.700 |
30,268.200 |
26,298.900 |
|
Debt/Equity
ratio |
0.916 |
1.350 |
5.495 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
42,425.900 |
48,075.700 |
37,753.100 |
|
|
|
13.317 |
(21.472) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
42,425.900 |
48,075.700 |
37,753.100 |
|
Profit |
1,993.500 |
(4,723.100) |
(12,138.600) |
|
|
4.70% |
(9.82)% |
(32.15)% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
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 |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The Registered Office of the company has been shifted from Reliance
House Near Maradia Plaza, Off. C G Road, Ahmedabad – 380006, Gujarat, India to the present
address w.e.f. 04.12.2006.
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Term loans from banks |
5427.200 |
4479.500 |
|
Loans and advances from related parties |
20871.700 |
25788.700 |
|
|
|
|
|
Total |
26298.900 |
30268.200 |
OPERATIONS
During the year, BPO Division of Reliance BPO Private Limited, a wholly owned subsidiary of the Company demerged with the Company pursuant to Scheme of Arrangement passed by the Hon?ble High Court of Judicature at Bombay vide order dated December 20, 2012. The BPO unit offers end-to-end solutions focusing on Telecom, Entertainment, BFSI and Utility verticals. The BPO services division provides voice as well as back office support. The division has developed unique competencies and demonstrated operational excellence in catering to 12 regional languages and 4 foreign languages.
The Company offers Internet services and Broadband data services. During the year, the Company has entered in to a Business Transfer Agreement (BTA) with Reliance IDC Limited, a wholly owned subsidiary of the Company and IDC business division transfer to Reliance IDC Limited w.e.f. July 1, 2012.
The Company earned total revenues of Rs. 42586.000 millions during the year as compared to Rs. 55274.9 millions for the previous year. The Company incurred total operating expenses of Rs. 51706.100 millions as compared to Rs. 56616.400 millions in the previous year.
The net loss after tax recorded by the company was Rs. 12138.600 millions as compared to loss of Rs. 4723.100 millions in the previous year.
The Company has entered into various contracts in the area of providing services such as Business Process Outsourcing etc., while benefits from such contracts will accrue in the future years.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10440104 |
05/08/2013 |
2,500,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B80951643 |
|
2 |
10429179 |
03/06/2013 |
1,160,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B76287770 |
|
3 |
10413223 |
26/03/2013 |
5,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B71272363 |
|
4 |
10399304 |
28/01/2013 |
15,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B66572058 |
|
5 |
10398825 |
22/01/2013 |
3,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B66417387 |
|
6 |
10396462 |
11/01/2013 |
3,250,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B65715542 |
|
7 |
10396450 |
11/01/2013 |
5,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B65712358 |
|
8 |
10387871 |
27/11/2012 |
10,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B62519210 |
|
9 |
10380651 |
16/10/2012 |
3,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B59730341 |
|
10 |
10363288 |
06/07/2012 |
3,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B42744052 |
|
11 |
10350310 |
26/04/2012 |
5,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B37746823 |
|
12 |
10350230 |
26/04/2012 |
18,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B37748571 |
|
13 |
10343045 |
26/03/2012 |
3,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B35403252 |
|
14 |
10337095 |
22/02/2012 |
47,185,200,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B32763724 |
|
15 |
10320819 |
09/12/2011 |
5,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B26692434 |
|
16 |
10307310 |
22/09/2011 |
15,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra |
B21022017 |
|
17 |
10293207 |
30/06/2011 |
200,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra |
B15307036 |
|
18 |
10293040 |
30/06/2011 |
27,076,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra |
B15299811 |
|
19 |
10269390 |
09/03/2011 |
86,850,000,000.00 |
Axis Trustee Services Limited |
2nd Floor, E, Axis House, Bombay Dyeing Mills Comp., Pandurang Budhkar Marg, Worli, MUMBAI, Maharashtra - 400025, INDIA |
B07383417 |
|
20 |
10268387 |
04/03/2011 |
204,208,617,724.50 |
Axis Trustee Services Limited |
2nd Floor, E, Axis House, Bombay Dyeing Mills Comp., Pandurang Budhkar Marg, Worli, MUMBAI, Maharashtra - 400025, INDIA |
B07054323 |
|
21 |
10177584 |
04/03/2011 * |
30,000,000,000.00 |
Axis Trustee Services Limited |
2nd Floor, E, Axis House, Bombay Dyeing Mills Comp., Pandurang Budhkar Marg, Worli, MUMBAI, Maharashtra - 400025, INDIA |
B07054042 |
* Date of charge modification
FIXED ASSETS
·
· Buildings
· Plant and Machinery
· Electrical Installations
· Office Equipment
· Furniture and Fixtures
·
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. 60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs. 80.35 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.