|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
VODAFONE WEST LIMITED (w.e.f.15.10.2011) |
|
|
|
|
Formerly Known
As : |
VODAFONE ESSAR GUJARAT LIMITED (w.e.f.28.06.2007) FASCEL LIMITED |
|
|
|
|
Registered
Office : |
6th Floor, Sakar II, Ellisbridge 6, Ahmedabad – 380006, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
14.03.1995 |
|
|
|
|
Com. Reg. No.: |
04-035282 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5000.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32100GJ1995PLC035282 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1190P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing mobile telecommunication
services. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 150000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Vodafone India Limited’. It is a
well-established and a reputed company having a fine track record. Company has performed well. Overall financial position of the company appears
to be strong and healthy. Trade relations reported to be trustworthy. Business is active.
Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 onproviding 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 |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
08.07.2013 |
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 DENIED
Management Non Co-Operative (Tel No.: 91-79-26578792)
LOCATIONS
|
Registered Office : |
6th Floor, Sakar II, Ellisbridge 6, Ahmedabad – 380006, Gujarat, India
|
|
Tel. No.: |
91-79-26578792/ 26577228 |
|
Fax No.: |
91-79-26575990 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch and Zonal Offices
: |
Located at: · Ahmedabad · Baroda · Bhavnagar · Gandhidham · Jamnagar · Junagadh · Mehsana · Rajkot · Surat · Vapi · Godhra |
DIRECTORS
As on 12.08.2013
|
Name : |
Mr. Venkatesh Viswanathan |
|
Designation : |
Director |
|
Address : |
D-6, Krishnalaya, 33-1/34, N.S. Mankikar
Marg, Sion Chunnabhatti, Mumbai - 400022, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1968 |
|
Qualification : |
CS , CWA, MBA-Finance (IIM-A) |
|
Date of Appointment : |
09.07.2010 |
|
DIN No.: |
03122706 |
|
|
|
|
Name : |
Mr. Dilip Pal |
|
Designation : |
Director |
|
Address : |
Flat No. 701/702, Khar Pushparaj CHS.
Limited, Plot No.5, 16th Road, Khar West, Mumbai – 400052, Maharashtra, India
|
|
Date of Birth/Age : |
15.02.1966 |
|
Qualification : |
CA, B.Com(H), M.Com |
|
Date of Appointment : |
16.02.2012 |
|
DIN No.: |
05201144 |
|
|
|
|
Name : |
Mr. Naveen Lal Chopra |
|
Designation : |
Director |
|
Address : |
Bharat Bhuvan, 2nd Floor, 711, Linking Road,
Khar West, Mumbai - 400052, Maharashtra |
|
Date of Birth/Age : |
25.04.1960 |
|
Date of Appointment : |
25.06.2012 |
|
DIN No.: |
05307614 |
|
|
|
|
Name : |
Mr. Rohit Adya |
|
Designation : |
Director |
|
Address : |
Flat No. 4, Narendra Bhuvan, Bhulabhai Desai
Road, Mumbai – 400026, Maharashtra |
|
Date of Birth/Age : |
06.09.1956 |
|
Date of Appointment : |
25.06.2012 |
|
DIN No.: |
05308871 |
KEY EXECUTIVES
|
Name : |
Mr. Ashesh Thakore |
|
Designation : |
Secretary |
|
Address : |
1, Sumeru Apartment, 13, Pritam Nagar, Ellis
Bridge, Ahmedabad - 380006, Gujarat, India |
|
Date of Birth/Age : |
12.10.1965 |
|
Date of Appointment : |
11.03.2010 |
|
PAN No.: |
AAIPT6149D |
|
|
|
|
Name : |
Mr. Brajesh Bajpai |
|
Designation : |
Manager |
|
Address : |
B-51, Riviera Elegance, Opposite Sampada
Bunglow, Off. New Corporate Road, Near Prahlad Nagra, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
13.08.1971 |
|
Qualification : |
B. E./ M.B.A. |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AAPPB9934P |
|
|
|
|
Name : |
Pushpinder Singh
Gujral |
|
Designation : |
Vice President -
Sales and Marketing Operations |
|
Date of Birth/Age : |
42 year |
|
Qualification : |
S.S.C./H.S.C./B.
E./M.M.S. |
|
Experience : |
20 Years |
|
|
|
|
Name : |
Ranjan Mishra |
|
Designation : |
Associate Vice
President-Human Resources |
|
Date of Birth/Age : |
42 Years |
|
Qualification : |
Post graduate |
|
Experience : |
9 Years |
|
|
|
|
Name : |
P Mani |
|
Designation : |
Associate Vice
President-Finance |
|
Date of Birth/Age : |
46 year |
|
Qualification : |
S.S.C./H.S.C./C.
A./B. Com. |
|
Experience : |
23 year(s) and 8
month |
|
|
|
|
Name : |
Zahir Wykes |
|
Designation : |
VP – Retail –
Business Experience |
|
Date of Birth/Age : |
46 year |
|
Qualification : |
S.S.C./H.S.C./Post
Graduate Diploma/B. Com. |
|
Experience : |
25 year(s) and 1
month |
|
|
|
|
Name : |
Satyanarayana D.
Rao |
|
Designation : |
Deputy General
Manager-Business Development |
|
Date of Birth/Age : |
39 years |
|
Qualification : |
B. Sc. |
MAJOR SHAREHOLDERS
As on 12.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Central Depository Services (India) Limited - Beneficiary - Vodafone
India Limited, India |
|
499999400 |
|
Vodafone India Limited, India |
|
200 |
|
Pushkaraj Vishnu Joshi Jointly With Vodafone India Limited, India |
|
100 |
|
Vodafone East Ltd. Jointly with Vodafone India Limited, India |
|
100 |
|
Vodafone Mobile Services Limited Jointly with Vodafone India Limited,
India |
|
100 |
|
Vodafone Digilink Limited Jointly with Vodafone India Limited, India |
|
25 |
|
Central Depository Services (India) Limited - Beneficiary - Vodafone
India Limited, India |
|
50 |
|
Vodafone India Limited, India |
|
25 |
|
Total |
|
500000000 |
Equity Share Break up (Percentage of Total Equity)
As on 12.08.2013
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing mobile telecommunication
services. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees
: |
Information
denied by management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Details of security All the equity
shares of the Company, its subsidiary and of certain of its Indian fellow
subsidiaries have been pledged as security with the banks. Term Loans are
further secured by assignment of the Unified Access Services Licenses (UAS)
of the aforesaid parties and Vodafone India Limited under tripartite
agreements between the licensees, Department of Telecom (DoT) and the
representative of the secured lenders. The equity
shares and UAS licenses also provide security for the loans taken by its
subsidiary, certain of its Indian fellow subsidiaries and Vodafone India
Limited, the Holding Company. Terms of repayment of secured loans Rs.1063.000
millions repayable in financial year 2014-15. Terms of repayment of subordinated loans Rs.8405.000
millions repayable in financial year 2015-16, Rs.2310.000 millions repayable
in financial year 2016-17 and Rs.1646.000 millions repayable in financial
year 2017-18 respectively. However, in terms of the subordination deed
executed with the unsecured lenders, the subordinated loans together with
interest accrued there on, are repayable at the end of subordination period, being the earlier of the date on which the secured loans are paid in full and the date when the financial covenants stipulated by the secured lenders are complied. |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
Mobile No.: |
|
|
Holding company : |
Vodafone India Limited CIN No.U32200MH1992PLC119108 |
|
|
|
|
Ultimate Holding
Company : |
Vodafone Group Plc. |
|
|
|
|
Intermediate Holding Company : |
Vodafone International Holdings B.V. |
|
|
|
|
Subsidiary company : |
Vodafone Spacetel Limited CIN No.: U72200DL1997PLC085764 |
|
|
|
|
Fellow Subsidiary company : |
·
Vodafone South Limited CIN No.: U74899DL1995PLC074451 ·
Vodafone Digilink Limited CIN No.: U64201DL1997PLC088088 ·
Vodafone Cellular Limited CIN No.: U64202TZ1995PLC007674 ·
Vodafone Shared Services Limited CIN No.: U74900GJ2009PLC058189 ·
Vodafone India Services Private Limited CIN No.: U64201GJ1999PTC059542 ·
Vodafone Sales and Services Limited (w.e.f. 15th
October 2011) ·
Vodafone Netherlands ·
Connect (India) Mobile Technologies Private
Limited (w.e.f. 24.02.2012) CIN No.: U32202MH1999PTC120818 ·
Vodafone Mobile Services Limited CIN No.: U64202DL1992PLC088087 ·
Vodafone Overseas Finance Limited ·
Vodafone Investments Luxembourg S.A.R.L. ·
Mobile Commerce Solutions Limited (w.e.f.
26.03.2013) CIN No.: U74900MH2008PLC183456 ·
Vodafone Ireland Marketing Limited ·
Vodafone East Limited CIN No.: U32204WB1992PLC079998 ·
Vodafone Asia Pacific Limited ·
Vodafone Czech Republic A.S. ·
Vodafone Egypt ·
Vodafone D2 GmbH ·
Vodafone Panafon S.A. ·
Vodafone Hungary Limited. ·
Vodafone Ireland Marketing Limited ·
Vodafone Malta Limited ·
Vodafone New Zealand Limited ·
Vodafone Portugal ·
Vodafone Romania S.A. ·
Vodafone Spain ·
Telsim Mobile Turkey ·
Vodafone Limited ·
Vodafone Omnitel N.V ·
Vodafone Espana S.A. ·
Vodacom Group (Pty) Limited ·
Vodafone Fiji ·
Vodafone Qatar, Q.S.C ·
Vodafone Group Services Limited ·
Vodafone Germany (Mobile) ·
Ghana Telecommunications Company Limited ·
Vodafone Ireland Limited ·
Vodafone Turkey ·
Vodacom South Africa |
CAPITAL STRUCTURE
As on 12.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Shares |
Rs.10/- each |
Rs.7500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.10/- each |
Rs.5000.000 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 |
5000.000 |
5000.000 |
5000.000 |
|
(b) Reserves & Surplus |
32241.000 |
29795.000 |
29474.000 |
|
(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) |
37241.000 |
34795.000 |
34474.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
13424.000 |
14934.000 |
14500.900 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
2349.000 |
1528.000 |
388.700 |
|
(d) long-term provisions |
785.000 |
716.000 |
808.800 |
|
Total Non-current Liabilities (3) |
16558.000 |
17178.000 |
15698.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1097.000 |
1143.000 |
456.600 |
|
(b) Trade payables |
3985.000 |
3541.000 |
3587.300 |
|
(c) Other current
liabilities |
7095.000 |
5817.000 |
3935.900 |
|
(d) Short-term provisions |
1105.000 |
996.000 |
934.700 |
|
Total Current Liabilities (4) |
13282.000 |
11497.000 |
8914.500 |
|
|
|
|
|
|
TOTAL |
67081.000 |
63470.000 |
59086.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11523.000 |
11836.000 |
12330.000 |
|
(ii) Intangible Assets |
10928.000 |
11770.000 |
12649.200 |
|
(iii) Capital
work-in-progress |
1578.000 |
1174.000 |
765.400 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2935.000 |
1855.000 |
1855.000 |
|
(c) Deferred tax assets (net) |
264.000 |
127.000 |
265.600 |
|
(d) Long-term Loan and Advances |
34609.000 |
31580.000 |
28008.000 |
|
(e) Other Non-current assets |
204.000 |
2.000 |
0.000 |
|
Total Non-Current Assets |
62041.000 |
58344.000 |
55873.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
841.000 |
852.000 |
647.000 |
|
(d) Cash and cash
equivalents |
2481.000 |
2466.000 |
622.900 |
|
(e) Short-term loans and
advances |
630.000 |
942.000 |
1203.300 |
|
(f) Other current assets |
1088.000 |
866.000 |
740.500 |
|
Total Current Assets |
5040.000 |
5126.000 |
3213.700 |
|
|
|
|
|
|
TOTAL |
67081.000 |
63470.000 |
59086.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
33224.000 |
31335.000 |
27082.800 |
|
|
|
|
Other Income |
329.000 |
470.000 |
692.300 |
|
|
|
|
TOTAL (A) |
33553.000 |
31805.000 |
27775.100
|
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
18002.000 |
17143.000 |
14435.400 |
|
|
|
|
Employee Benefits Expenses |
605.000 |
652.000 |
575.500 |
|
|
|
|
Other Expenses |
5240.000 |
5066.000 |
4666.800 |
|
|
|
|
Exceptional Items |
0.000 |
2335.000 |
0.000 |
|
|
|
|
TOTAL (B) |
23847.000 |
25196.000 |
19677.700 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9706.000 |
6609.000 |
8097.400 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
1989.000 |
1741.000 |
1043.400 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
7717.000 |
4868.000 |
7054.000 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/ AMORTISATION (F) |
3717.000 |
3396.000 |
2980.400 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
4000.000 |
1472.000 |
4073.600 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
1554.000 |
1151.000 |
1048.800 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
2446.000 |
321.000 |
3024.800 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
29795.400 |
29474.000 |
26449.200 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
32241.400 |
29795.400 |
29474.000 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
116.000 |
164.000 |
163.700 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Capital Goods |
2170.000 |
2677.000 |
2744.600 |
|
|
|
TOTAL IMPORTS |
2170.000 |
2677.000 |
2744.600 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
4.89 |
0.64 |
6.05 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.29 |
1.01 |
10.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.04 |
4.70 |
15.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.42 |
2.44 |
7.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.04 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.39 |
0.46 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.38 |
0.45 |
0.36 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
3172.000 |
1861.000 |
0.000 |
|
Total |
3172.000 |
1861.000 |
0.000 |
|
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 |
---------- |
|
23] |
Banking Details |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
advances from related parties |
12361.000 |
10698.000 |
|
Short Term Borrowings |
|
|
|
Loans repayable
on demand from banks |
1097.000 |
1143.000 |
|
Total |
13458.000 |
11841.000 |
OPERATIONS:
The year ended March 2013 has been a good year for the Company. The favourable revenue performance was primarily due to both higher Outbound and Inbound Voice and greater Messaging and Data usage. During the year, the Company has widened its subscriber base by launch of various segmented products.
The company's customer base grew to a landmark 16.1 million
subscribers with a growth rate of 0.3% on a year on year basis. The Company
continues to be the leading operator, having a Revenue market share of 37.5%
(Includes fixed line revenue of all operators) as at 31 March 2013in a very
competitive multi-player market.
During the year 2012-13, the Company has further expanded its network to
increase its coverage and n networks continue to perform better against
acceptable thresholds for the major performance parameters. The Company has
added 267more cell sites to enhance its network coverage, closing with a total
of 7,455cell sites as at 31 March 2013.
OUTLOOK FOR
2013-2014
Tightened acquisition norms and reduced viability of marginal players
will likely see a reduction in competitive intensity and improved position for
incumbents. This is most likely to translate into improvement in RpM and
reduction in SAC. While past impact on VF RMS has been muted, they expect a
resumption of market share gains by Vodafone India. Vodafone is one among the
top multinational consumer brands in India and they expect to leverage the
brand especially in the areas of fixed and mobile data business with
Multinationals, Small and Medium enterprise segments.
Revenue growth in FY14 is expected to be driven by a mix of growth in
subs, MOU per sub, RpM hardening and data. Browsing revenue is expected to
increase significantly as usage per sub is expected to record double digit
growth due to increase penetration and use of smart phones. There will be an
enhanced focus on 3G and value added services. Further, plans to attract new
high value quality customers and retain existing customers are in place. The
focus on cost reduction and working capital improvement will continue with more
rigor in the coming year. Being the dominant player in Gujarat along with the
brand strength of Vodafone, the management is confident of delivering
consistent results.
EVENTS SUBSEQUENT TO
BALANCE SHEET DATE - SCHEME OF AMALGAMTION FOR MERGER OF THE COMPANY WITH
VODAFONE MOBILE SERVICES LIMITED
As part of the restructuring of the Vodafone India Group of Companies, the Company has filed a Scheme of Amalgamation with the Hon'ble High Court of Gujarat for merging the Company with and into another group Company - Vodafone Mobile Services Limited (VMSL) with 1 April2012 as the Appointed Date.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80039625
|
25/05/2009
* |
280,000,000,000.00
|
IL
AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL CENTREPLOT NO C22 G BLOCK
BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
A65754814
|
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
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.62.99 |
|
|
1 |
Rs.104.61 |
|
Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
63 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.