|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE INFRATEL LIMITED (w. e. f. 04.01.2008) |
|
|
|
|
Formerly Known
As : |
RELIANCE TELECOM INFRASTRUCTURE LIMITED (w.e.f. 11.10.2006) RELIANCE COMMUNICATIONS RAJASTHAN LIMITED (w.e.f. 18.06.2004) RELIANCE COMMUNICATIONS RAJASTHAN PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai - 400710, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-131598 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.
28330.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2001PLC131598 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMR21559G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR0181Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Providing passive telecommunication infrastructure Services. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 324960000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of RELIANCE GROUP. It is a well established and repurted company having satisfactory
track record. There appears slight dip in the turnover of the company during financial
year 2013. However, there seems growth in the profitability of the company. General financial position of the company is strong. The company gets
good support from its group companies. Trade relations are fair. Business is active. Payments are reported to
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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted for
the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus on providing payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating: [BBB + (SO)] Revised from “A-” |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating: “A2+” |
|
Rating Explanation |
Strong degree of safety. It carry very low credit risk. |
|
Date |
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-30386286)
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai - 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30386286 |
|
Fax No.: |
91-22-30376622 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Anil Dhirajlal Ambani |
|
Designation : |
Director |
|
Address : |
39, Sea Wind, Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra,
India |
|
Date of Birth/Age : |
04.06.1959 |
|
Qualification : |
MBA from the Wharton School of the University of Pennsylvania |
|
Date of Appointment : |
18.06.2007 |
|
PAN No.: |
AHBPS7964F |
|
DIN No.: |
00004878 |
|
|
|
|
Name : |
Mr. Raj Narain Bhardwaj |
|
Designation : |
Director |
|
Address : |
402, Moksh Apartments, Upper Govind Nagar, Malad (East), Mumbai - 400097,
Maharashtra, India |
|
Date of Birth/Age : |
08.05.1947 |
|
Qualification : |
"B.A. (Hons.), MA(Economics) from Delhi School of Economics, DIR
and PM, Punjab University, Patiala |
|
Date of Appointment : |
19.09.2009 |
|
DIN No.: |
01571764 |
|
|
|
|
Name : |
Mr. Hasit Navinchandra Shukla |
|
Designation : |
Director |
|
Address : |
403, Sabita Co-operative Housing Society Limited, 16th Road, Bandra
(West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1962 |
|
Qualification : |
B.Com, FCS,LLB |
|
Date of Appointment : |
10.02.2012 |
|
DIN No.: |
00004549 |
|
|
|
|
Name : |
Mr. Jayaraman Ramachandran |
|
Designation : |
Director |
|
Address : |
417, Faculty Quarters, Indian Institute of Management, Bannerghatta Road, Bangalore – 560076, Karnataka, India |
|
Date of Birth/Age : |
01.06.1957 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
00004593 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Chandulal Shah |
|
Designation : |
Company Secretary |
|
Address : |
6, Reliance Bill Collection Center, Near Ambedkar Garden, Road No. 18,
Chembur East, Mumbai – 400071, |
|
Date of Birth/Age : |
24.04.1963 |
|
Date of Appointment : |
30.03.2007 |
|
PAN No.: |
AHBPS7964F |
|
|
|
|
Name : |
Mr. Anil Chandulal Shah |
|
Designation : |
Manager |
|
Address : |
6, Reliance Bill Collection Center, Near Ambedkar Garden, Road No. 18,
Chembur East, Mumbai – 400071, |
|
Date of Birth/Age : |
24.04.1963 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AHBPS7964F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
NOTE: MAJOR SHAREHOLDERS DETAILS FILE ATTACHED.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
19.79 |
|
Bodies corporate |
80.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing passive telecommunication infrastructure
Services. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Barclays Bank, London |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
NOTE LONG TERM
BORROWINGS The above mentioned Foreign Currency loans ("the Secured Loans") were secured by first pari passu charge on the whole of the movable plant and machinery, including (without limitation) tower assets and optic fibre cables if any (whether attached or otherwise), capital work in progress ( pertaining to movable fixed assets) both present and future including all the rights, titles, interest, benefits, claims and demands in respect of all insurance contracts relating thereto of the borrower group; comprising of the Company, Reliance Communications Limited, (RCOM) and its subsidiary companies namely; Reliance Telecom Limited (RTL) and Reliance Communications Infrastructure Limited (RCIL) in favour of the Security Trustee for the benefit of the Lenders. SHORT TERM BORROWINGS Non Convertible Debentures are secured by first pari passu
charge on Fixed Assets of Borrower Group, including claims and demands in
respect of all insurance, contracts relating there to.The Company is in the
process of creating such security. |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
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 : |
912-913, Tulsiani Chambers, 212 Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Holding company: |
Reliance Communications Infrastructure Limited U64203MH1997PLC166329 |
|
|
|
|
Ultimate Holding
company: |
Reliance Communications Limited CIN No.: L45309MH2004PLC147531 |
|
|
|
|
Subsidiary company: |
· Netizen Rajasthan Limited CIN No.: U45400MH2000PLC128387 Reliance Telecom Limited CIN No.: U32100MH1994PLC162841 Reliance Infocomm Infrastructure Private Limited CIN No.: U45300MH1993PTC173775 Reliance Globalcom BV |
|
|
|
|
Fellow Subsidiary
company: |
· Reliance Webstore Limited CIN No.: U72900MH2000PLC128101 Reliance IDC Limited (Formerly known as Reliance
Communications Investment and Leasing Limited) Kerela Communication Network Private Limited (w.e.f. March
21, 2013) M P Network Private Limited (w.e.f. March 21, 2013) Reliance big TV Limited CIN No.: U45203MH2005PLC153294 Reliance Tech Services Private Limited CIN No.: U72900MH2007PTC172690 Reliance Telecom Infrastructure (Cyprus) Holdings Limited. |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000000 |
Equity Shares |
Rs.10/- Each |
Rs.75000.000 Millions |
|
500000000 |
Preference Shares |
Rs.10/- Each |
Rs.5000.000 Millions |
|
|
Total |
|
Rs.80000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2793141868 |
Equity Shares |
Rs.10/- Each |
Rs.27930.000
Millions |
|
40000000 |
Preference Shares |
Rs.10/- Each |
Rs.400.000
Millions |
|
|
Total |
|
Rs.28330.000 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 |
28330.000 |
28330.000 |
28330.000 |
|
(b) Reserves & Surplus |
52910.000 |
54340.000 |
44130.000 |
|
(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) |
81240.000 |
82670.000 |
72460.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
52770.000 |
60060.000 |
64240.000 |
|
(b) Deferred tax liabilities (Net) |
13720.000 |
10180.000 |
3670.000 |
|
(c) Other long term liabilities |
10550.000 |
6890.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
77040.000 |
77130.0000 |
67910.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
26410.000 |
37840.000 |
45100.000 |
|
(b) Trade payables |
6780.000 |
3230.000 |
4320.000 |
|
(c) Other current
liabilities |
12810.000 |
21090.000 |
15390.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
46000.000 |
62160.000 |
64810.000 |
|
|
|
|
|
|
TOTAL |
204280.000 |
221960.000 |
205180.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
115970.000 |
125860.000 |
109740.000 |
|
(ii) Intangible Assets |
150.000 |
170.000 |
150.000 |
|
(iii) Capital
work-in-progress |
3000.000 |
7480.000 |
24100.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
10000.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3050.000 |
3200.000 |
3090.000 |
|
(e) Other Non-current assets |
45300.000 |
44980.000 |
33320.000 |
|
Total Non-Current Assets |
167470.000 |
181690.000 |
180400.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
230.000 |
520.000 |
280.000 |
|
(c) Trade receivables |
6210.000 |
1030.000 |
4930.000 |
|
(d) Cash and cash
equivalents |
90.000 |
40.000 |
780.000 |
|
(e) Short-term loans and
advances |
19470.000 |
38670.000 |
18750.000 |
|
(f) Other current assets |
10810.000 |
10.000 |
40.000 |
|
Total Current Assets |
36810.000 |
40270.000 |
24780.000 |
|
|
|
|
|
|
TOTAL |
204280.000 |
221960.000 |
205180.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
70610.000 |
73170.000 |
66580.000 |
|
|
|
Other Income |
110.000 |
2700.000 |
310.000 |
|
|
|
TOTAL (A) |
70720.000 |
75870.000 |
66890.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
35100.000 |
37490.000 |
21030.000 |
|
|
|
Employee benefit expense |
980.000 |
670.000 |
870.000 |
|
|
|
Other expenses |
1630.000 |
870.000 |
400.000 |
|
|
|
TOTAL (B) |
37710.000 |
39030.000 |
22300.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
33010.000 |
36840.000 |
44590.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10990.000 |
12280.000 |
10920.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22020.000 |
24560.000 |
33670.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14010.000 |
17750.000 |
22470.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
8010.000 |
6810.000 |
11200.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
2940.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
8010.000 |
6810.000 |
8260.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24190.000 |
17380.000 |
29120.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15000.000 |
0.000 |
20000.000 |
|
|
|
Transferred to Debenture Redemption Reserve |
220.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
16980.000 |
24190.000 |
17380.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
30.000 |
50.000 |
40.000 |
|
|
TOTAL IMPORTS |
30.000 |
50.000 |
40.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.87 |
2.44 |
2.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.33
|
8.98
|
12.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.34
|
9.31
|
16.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.98
|
3.18
|
6.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.08
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.97
|
1.18
|
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80
|
0.65
|
0.38 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Foreign Currency Loan from Bank (Secured) |
9050.000 |
8480.000 |
7430.000 |
|
|
|
|
|
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No:
CAL/12/2014 Filing Date:
09/01/2014 |
|
Petitioner: IIC POND VIEW R TOWER LTD. AND 8 ORS. Respondent: RELIANCE INFRATEL
LIMITED - Petn. Adv : AZB AND PARTNERS (14127) District: OUTSIDE MAHARASHTRA |
|
Bench: SINGLE Status: Pre-Admission
Category: COMPANY APPLN. U/SEC 78,100 to 105 Last Date: 05/02/2014
Stage:
Last Coram: HON’BLE SHRI JUSTICE G.S. PATEL |
|
Act: Companies Act & Rules 1956 UNDER SECTION: 78,
100 TO 104 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10475368 |
05/02/2014 |
1,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B95404281 |
|
2 |
10475348 |
05/02/2014 |
2,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B95398251 |
|
3 |
10475378 |
05/02/2014 |
2,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B95407631 |
|
4 |
10465441 |
17/12/2013 |
3,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B91662445 |
|
5 |
10465468 |
12/12/2013 |
1,200,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B91324947 |
|
6 |
10464619 |
12/12/2013 |
48,300,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B91312843 |
|
7 |
10460116 |
20/11/2013 |
2,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B89497838 |
|
8 |
10460125 |
20/11/2013 |
10,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B89500482 |
|
9 |
10447897 |
16/09/2013 |
2,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B84473180 |
|
10 |
10440066 |
05/08/2013 |
2,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B80949605 |
|
11 |
10413226 |
26/03/2013 |
5,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B71274492 |
|
12 |
10400013 |
28/01/2013 |
15,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B66716739 |
|
13 |
10398822 |
22/01/2013 |
3,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B66416090 |
|
14 |
10396465 |
11/01/2013 |
3,250,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B65716219 |
|
15 |
10396456 |
11/01/2013 |
5,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B65714701 |
|
16 |
10387877 |
27/11/2012 |
10,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B62520978 |
|
17 |
10380655 |
16/10/2012 |
3,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B59731224 |
|
18 |
10350292 |
26/04/2012 |
5,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B37747722 |
|
19 |
10350235 |
26/04/2012 |
18,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B37749520 |
|
20 |
10343041 |
26/03/2012 |
3,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B35401835 |
|
21 |
10336710 |
22/02/2012 |
47,185,200,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B32610362 |
|
22 |
10293067 |
30/06/2011 |
200,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B15307903 |
|
23 |
10293038 |
30/06/2011 |
27,076,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B15299290 |
|
24 |
10269387 |
09/03/2011 |
86,850,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B07382195 |
|
25 |
10268369 |
04/03/2011 |
204,208,617,724.50 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B07055585 |
|
26 |
10177585 |
04/03/2011 * |
30,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B07054976 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
From Others |
|
|
|
Loan from Holding Company |
6580.000 |
6580.000 |
|
Loan from Ultimate Holding Company |
27190.00 |
27190.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans Repayable on
Demand |
|
|
|
Loan From Holding Company |
24930.000 |
27260.000 |
|
Loans and Advances
from Related Party |
|
|
|
Loan From Fellow Subsidiary |
0.000 |
10000.000 |
|
Other Loans |
|
|
|
Foreign Currency Loans from Banks |
110.000 |
580.000 |
|
Commercial Papers |
500.000 |
0.000 |
|
Total |
59310.000 |
71610.000 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from E-Block, D
Ambani Knod Cityopp Koparkhairane Railway Station, Thane Belapur Road, Navi Mumbai
- 400709, Maharashtra, India to the present address w.e.f 11.10.2006.
BUSINESS OPERATIONS
The Company has sixth year of full operations. During the year, the total Income has been decreased by 6.79% to Rs.70720.000 Millions against Rs.75870.000 Millions in previous year. The Profit After Tax has increased by 17% to Rs.8010.000 Millions against Rs.6810.000 Millions in previous year.
The Company is a leading passive telecommunication infrastructure provider in India, based on the number of telecommunication towers that it owns. The Company builds, owns and operates telecommunication towers and related assets at designated sites and provides the passive infrastructure assets on a shared basis to wireless telecom and other service providers under long term contracts.
The emergence of new technologies will be the key driver for the Company. All the existing towers of the Company are designed to handle upto 4 tenants with minor utility upgrade without any further capital expenditure and upto 7 tenants with relatively minimal incremental capex. The Company’s towers have the capacity of over 2,00,000 slots. The Company also owns 1,90,000 route kilometres optical fibre network in India, providing a more economical and better quality linking for tenants compared to microwave. The Company offers extensive and diverse portfolio of well-positioned assets and their wide and expanding portfolio of tower sites positions the Company to be able to address the needs of national, regional, local and emerging wireless telecom service providers in India.
Schemes of
Arrangement and Amalgamation of earlier years
The Company, during previous years undertook various Schemes so as to align the interest of the shareholders. Accordingly, pursuant to Schemes of Amalgamation and Arrangement ('the Schemes") under Sections 391 to 394 of the Companies Act, 1956 approved by the Hon'ble High Court of respective Judicature, the Company, during the respective years, recorded all necessary accounting effects, along with requisite disclosure in the Notes on Account, in accordance with the provisions of the said Schemes. The cumulative effects of the Schemes in case of Equity Share Capital of the company have been disclosed below the respective Notes on the Accounts. Reserves and Surplus, pursuant to the said Schemes, include:
(i) General Reserve I of Rs. 1910.000 Millions being unadjusted balance, on fair valuation of assets pursuant to the Scheme of Arrangement for transfer of Passive Infrastructure into the Company
(ii) During the year, Deferred Tax Liabilities of Rs. 3540.000 Millions (Previous year Rs. 6510.000 Millions ) has been provided by the Company and adjusted by withdrawing an equivalent amount from General Reserve - II pursuant to the Scheme of Amalgamation between the Company and Reliance Global IDC Limited ( RGIDCL).
Scheme of
Amalgamation
During the previous year, pursuant to the Scheme of Amalgamation ("the Scheme") under Section 391 to 394 of the Companies Act, 1956 sanctioned by the Hon’ble High Court of Bombay vide Order dated April 20, 2012, with an Appointed date being March 1, 2012, Netizen Rajasthan Limited (NRL or ?the Transferor Company), a Wholly Owned Subsidiary of the Company, has been amalgamated into the Company and ceased to be subsidiary of the Company.
Upon the Scheme becoming effective:-
i) All the assets and liabilities as appearing in the books of NRL as on the Appointed Date had been recorded in the books of the Company at their respective book values and inter-company balances had been cancelled.
ii) Investment of Rs. 10000.000 Millions in Preference Shares and Rs. 5,00,000 in Equity Shares of NRL had been written off by the Company to its Statement of Profit and Loss and adjusted by withdrawing an equivalent amount from General Reserve I.
iii) Excess of assets over liabilities of Rs. 17930.000 Millions has been credited to Capital Reserve by the Company.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Disputed Liabilities in tower construction pending adjudication |
60.000 |
80.000 |
|
Disputed Liability for Entry Tax,VAT / CST and Service Tax * |
4280.000 |
250.000 |
|
Bank Guarantee |
50.000 |
60.000 |
|
NOTE: * The Company has deposited Rs. 100.000 Millions (Previous
Year Rs. 100.000 Millions) under protest with the Entry Tax authorities and
Rs. 4.734 Millions (Previous Year Rs. 0.400 Million) with VAT / CST authority
against the demand. Deposit amount is included in Loans and Advances. |
||
FIXED ASSETS
v
Tangible
Assets
Freeehold
Land
Buildings
Plant
and Machinery
Vehicle
v
Intangible Assets
Indefeasible
Right to Use
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.