MIRA INFORM REPORT

 

 

Report Date :

26.07.2014

 

IDENTIFICATION DETAILS

 

Name :

IDEA CELLULAR LIMITED

 

 

Registered Office :

Suman Tower, Plot No.18, Sector-11, Gandhinagar – 382011, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

14.03.1995

 

 

Com. Reg. No.:

04-030976

 

 

Capital Investment / Paid-up Capital :

Rs.33196.300 Millions

 

 

 

CIN No.:

[Company Identification No.]

L32100GJ1996PLC030976

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMI00670F

 

 

PAN No.:

[Permanent Account No.]

AAACB2100P

 

 

Legal Form :

A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company operates in two business segments:

 

a)       Mobility Services: providing GSM based mobile and related telephony services.

b)       International Long Distance (ILD): providing international long distance services.

 

 

No. of Employees :

9746 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (69)

 

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 623400000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a part of “ADITYA BIRLA GROUP”.

 

It is a well-established and reputed company having a good track record. Financially company appears to be strong. Performance capability is high.

 

The ratings also take into consideration the strong support from its group companies.

 

Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment.

 

In view of experience promoters, the company can be considered for normal 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.

 

 

ECGC Country Risk Classification List – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

N E W S

 

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

 

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

 

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

 

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

 

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

 

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

 

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

 

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

 

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

 

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Short Term Debt Programme = A1+

Rating Explanation

Very Strong degree of safety and lowest credit risk.

Date

05.03.2014

 

 

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 31-03-2014.

 

 

INFORMATION DENIED

 

Management Non-Cooperative (Tel. No.: 91-79-66714000)

 

 

LOCATIONS

 

Registered Office :

Suman Tower, Plot No.18, Sector-11, Gandhinagar – 382 011, Gujarat, India

Tel. No.:

91-79-66714000 / 23232250

Fax No.:

91-79-23232251

E-Mail :

battfin@giaspn01.vsnl.net.in

bonatellis@hotmail.com

pankaj.kapdeo@idea.adityabirla.com

Website :

http://www.ideacellular.com

Area :

2000 sq. ft

Location :

Owned  

 

 

Corporate Office :

Windsor, 5th Floor, Off CST Road, Near Vidya Nagari, Kalina, Santacruz (East), Mumbai – 400 098, Maharashtra, India

 

 

Hyderabad Office :

3rd Floor K L K Estate , Fateh Maiden Road, Baseerbagh, Hyderabad – 500 001, Andhra Pradesh, India

Tel. No.:

91-40-66652000

Fax No.:

91-40-66562222

 

 

New Delhi Office :

A-30 Mohan Co-Operative, Industrial Area , Mathura Road, New Delhi – 110 020, India

Tel. No.:

91-11-66615555

Fax No.:

91-11-66615698/ 99

 

 

DIRECTORS

 

As on 31.03.2013

 

Name :

Mr. Kumar Mangalam Birla

Designation :

Chairman

Address :

Mangal Adityayan 20, Carmichael Road, Mumbai - 400 026, Maharashtra, India

Date of Birth/Age :

14.06.1967

 

 

Name :

Mrs. Rajashree Birla

Designation :

Non-Executive Director

Address :

Mangal Adityayan 20, Carmichael Road, Mumbai - 400 026, Maharashtra, India

Date of Birth/Age :

15.09.1945

 

 

Name :

Dr. Rakesh Jain

Designation :

Non-Executive Director

 

 

Name :

Mr. Biswajit Anna Subramanian

Designation :

Non-Executive Director

Address :

31 Lancaster Gate, London W2 3LP, U.K

Date of Birth/Age :

19.09.1965

 

 

Name :

Mr. Sanjeev Aga

Designation :

Non-Executive Director

Address :

703, Raheja Grande, Turner Road, Bandra (West) Mumbai – 400 050, Maharashtra, India

Date of Birth/Age :

01.02.1952

 

 

Name :

Mr. Arun Thiagarajan

Designation :

Independent Director

Address :

Grace Home, 37 Kanakapura Road, Basavangudi, Bangalore – 560 004, Karnataka, India

Date of Birth/Age :

07.09.1944

 

 

Name :

Mr. Gian Prakash Gupta

Designation :

Independent Director

Address :

101, Kaveri, B Wing, Neelkanth Valley, 7th Road, Rajawadi, Ghatkopar (E), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

11.01.1941

 

 

Name :

Mr. Mohan Gyani

Designation :

Independent Director

Address :

2137 Cascara Ct.  Pleasanton, California, USA 94588

Date of Birth/Age :

15.06.1951

 

 

Name :

Ms. Tarjani Vakil

Designation :

Independent Director

Address :

 A-1, Ishwardas Mansions Nana Chowk, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

30.10.1936

 

 

Name :

Mr. R.C. Bhargava

Designation :

Independent Director

 

 

Name :

Mr. P. Murari

Designation :

Independent Director

 

 

Name :

Ms. Madhabi Puri Buch

Designation :

Independent Director

 

 

Name :

Mr. Himanshu Kapania

Designation :

Managing Director

 

 

Name :

Dr. Shridhir Sariputta Hansa Wijayasuriya

Designation :

Alternate Director to Mr. Juan Villalonga Navarro

 

 

Name :

Mr. James Maclaurin

Designation :

Alternate Director to Dr. Shridhir Sariputta Hansa Wijayasuriya

 

 

KEY EXECUTIVES

 

Name :

Mr. Akshaya Moondra

Designation :

Chief Financial Officer

 

 

Name :

Mr. Pankaj Kapdeo

Designation :

Company Secretary

 

 

SHAREHOLDING PATTERN

 

As on 30.06.2014

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

233333

0.01

http://www.bseindia.com/include/images/clear.gifBodies Corporate

1520445714

42.90

http://www.bseindia.com/include/images/clear.gifSub Total

1520679047

42.91

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

1520679047

42.91

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

49040528

1.38

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

50024637

1.41

http://www.bseindia.com/include/images/clear.gifVenture Capital Funds

3350000

0.09

http://www.bseindia.com/include/images/clear.gifInsurance Companies

58113522

1.64

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

766575395

21.63

http://www.bseindia.com/include/images/clear.gifSub Total

927104082

26.16

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

35480945

1.00

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs.0.100 million

52275898

1.48

Individual shareholders holding nominal share capital in excess of Rs.0.100 million

7762572

0.22

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

1000757334

28.24

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

531414

0.01

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

2012286

0.06

http://www.bseindia.com/include/images/clear.gifTrusts

694121

0.02

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

990162003

27.94

http://www.bseindia.com/include/images/clear.gifClearing Members

7357510

0.21

http://www.bseindia.com/include/images/clear.gifSub Total

1096276749

30.93

Total Public shareholding (B)

2023380831

57.09

Total (A)+(B)

3544059878

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

3544059878

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company operates in two business segments:

 

c)       Mobility Services: providing GSM based mobile and related telephony services.

d)       International Long Distance (ILD): providing international long distance services.

 

 

GENERAL INFORMATION

 

No. of Employees :

9746 (Approximately)

 

 

Bankers :

·         Dena Bank, Deccan Gymkhana Branch, Pune, Maharashtra, India

·         Deutsche Bank, Mumbai – 400 001, Maharashtra, India

·         Standard Chartered Bank, 90, M.G Road, Fort, Mumbai – 400 001, Maharashtra, India

·         Standard Chartered Grindlays Bank

·         HDFC Bank Limited, 26-A, Narayan Properties, Chandivali Farm Road, Saki Naka, Andheri (East), Mumbai – 400 072, Maharashtra, India

·         Axis Bank Limited, Sterling Plaza, 1262/B, J.M. Road, Deccan Gymkhana, Pune, Maharashtra, India

·         IDBI Bank Limited, IDBI House, Dnyaneshwar Paduka Chowk, F.C. Road, Shivajinagar, Pune, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

Long Term Borrowings

 

 

626 (Previous year Nil) 9.45% Redeemable Non-Convertible Debentures (NCD) of Rs. 10.000 Millions each

6260.000

Foreign Currency Loan

 

 

- From Banks

 

770.570

- From Others

 

48507.170

Rupee Loan

 

 

- From Banks

 

20522.490

- From Others

 

3000.000

Vehicle Loan from Banks

 

266.610

Short Term Borrowings

 

 

Short Term Loan from Banks

 

0.000

Total

NA

79326.840

 

Note:

 

Secured Loans are covered by:

 

·         Term Loans including current maturities are secured by way of first charge / assignment ranking pari-passu interse the lenders, as under:

 

·         First charge on all the movable and immovable properties of the Company respectively,

 

·         First charge over all intangible assets (excluding Telecom Licenses) of the Company,

 

·         Assignment of the rights, titles and interest, on deposits, investments, bank accounts, book debts, insurance covers, other general assets, letters of credit and guarantees, provided in favour of the Company.

 

·         Out of the above Loan, Foreign Currency Loan amounting to Rs.56110.840 Millions. (Previous year Rs.43698.740 Millions.) and Rupee Loan amounting to Rs.9,590.460 Millions. (Previous year Rs.21,506.080 Millions.) additionally have pledge on 60% shareholding of Indus Towers Limited held by wholly owned subsidiary. Further Foreign Currency Loan amounting to Rs.7,010.500 Millions. (Previous year Rs 8,660.710 Millions.) and Rupee Loan amounting to Rs. 9,590.460 Millions. (Previous year Rs. 21,506.080 Millions.) included above, have additional security as first priority charge over Telecom Licenses also. NCD amounting to Rs. 6,260.000 Millions. have pari passu charge only on the tangible fixed assets of the Company.

 

·         Vehicle Loans including current maturities is secured by hypothecation of Vehicles against which the loans have been taken.

 

·         Repayment Terms of outstanding Long Term Borrowings (excluding current maturities) as on March 31, 2013:

 

Repayment Terms for Secured Foreign Currency Borrowings

 

·         Facility 1 (Rs.770.810 Millions.) - Balance amount is repayable in August, 2014

 

·         Facility 2 (Rs.10,910.070 Millions.) -

·         Tranche 1 - Balance amount is repayable in 11 equal half yearly installments starting September, 2014

·         Tranche 2 - Balance amount is repayable in 14 equal half yearly installments starting August, 2014

·         Facility 3 (Rs.7,060.860 Millions.) - Balance amount is repayable in 15 equal half yearly installments starting June, 2014

·         Facility 4 (Rs.2,722.150 Millions.) - Balance amount is repayable in 19 equal half yearly installments starting April, 2014

·         Facility 5 (Rs.8,392.500 Millions.) -

·         Tranche 1 - Balance amount is repayable in 12 equal half yearly installments starting April, 2014

·         Tranche 2 - Balance amount is repayable in 2 equal half yearly installments starting April, 2020

·         Facility 6 (Rs.6,732.260 Millions.) - Balance amount is repayable in 15 equal half yearly installments starting May, 2014

·         Facility 7 (Rs.7,497.360 Millions.) -

·         Tranche 1 - 17 equal half yearly installments starting July, 2014

·         Tranche 2 - 15 equal half yearly installments starting July, 2014

·         Facility 8 (Rs.5,191.740 Millions.) - Balance amount is repayable as follows:

·         equal quarterly installments of 1.25% each of the total drawn amount starting April, 2014

·         16 equal quarterly installments of 4.13% each of the total drawn amount starting July, 2015

·         4 equal quarterly installments of 4.75% each of the total drawn amount starting July, 2019

 

Repayment Terms for Secured INR Borrowings:

 

·         Facility 1 (Rs. 9,122.490 Millions.) - Balance amount is repayable as follows:

·         4 equal quarterly installments of 6.25% each of the total drawn amount starting April, 2014

·         4 equal quarterly installments of 5.00% each of the total drawn amount starting April, 2015

 

Facility 2 (Rs.14,400.000 Millions.) - Balance amount is repayable as follows:

 

·         4 equal quarterly installments of Rs.400.000 Millions. each starting June, 2014

·         4 equal quarterly installments of Rs.800.000 Millions. each starting June, 2015

·         8 equal quarterly installments of Rs.1,200.000 Millions. each starting June, 2016 NCDs (Rs.6,260.000 Millions.) - Repayable in October, 2019

·         Vehicles Loans are repayable in equal monthly installments over the term of the loan ranging from 2 to 4 years

 

Repayment Terms for Unsecured Foreign Currency Borrowings

 

·         Facility 1 (Rs. 6,762.300 Millions.) - 5 years from drawdown date ending October 4, 2015

·         Facility 2 (Rs. 1,185.430 Millions.) - Balance amount is repayable in February, 2015

·         Facility 3 (Rs. 5,155.410 Millions.) - Balance amount is repayable as follows:

·         20% of total drawdown is repayable in June, 2014

·         60% of total drawdown is repayable in June, 2018

 

Deferred Payment Liability towards Spectrum is repayable in 10 equated annual installments starting December, 2015.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

706, B Wing, ICC Trade Tower, Senapati Bapat Road, Pune – 411 016, Maharashtra, India

Tel. No.:

91-20-66244600

Fax No.:

91-20-66244605

E-Mail :

hmjoshi@deloitte.com

 

 

As on 31.03.2013 : 

 

 

 

Promoters :

·         Hindalco Industries Limited (Hindalco)

·         Grasim Industries Limited (Grasim)

·         Aditya Birla Nuvo Limited (ABNL)

·         Birla TMT Holdings Private Limited (Birla TMT)

 

 

Subsidiaries :

·         Idea Telesystems Limited (ITL) (Formerly known as Swinder Singh Satara and Co. Limited)

·         Aditya Birla Telecom Limited (ABTL)

·         Idea Cellular Services Limited (ICSL)

·         Idea Cellular Infrastructure Services Limited (ICISL)

·         Idea Cellular Towers Infrastructure Limited (ICTIL)

·         Idea Mobile Commerce Services Limited (IMCSL)

 

 

Joint Venture :

·         Indus Towers Limited (Indus)

 

 

Entities having significant influence :

·         TMI Mauritius Limited

·         Axiata Investments 2 (India) Limited (AI2) (Formerly known as TMI India Limited)

·         Axiata Group Berhad

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs.33196.300 Millions

 

 

As on 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6775000000

Equity Shares

Rs.10/- each

Rs.67750.000 Millions

1500

Redeemable Cumulative Non-Convertible Preference Shares

Rs.10000000/- each

Rs.15000.000 Millions

 

Total

 

Rs.82750.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3314321766

Equity Shares

Rs.10/- each

Rs.33143.220 Millions

 

Out of the above, 199153469 Equity Shares are allotted as fully paid up under the Scheme of amalgamation of Spice Communications Limited without payments being received in cash

 

Reconciliation of the number of shares

 

Equity Shares

No. of Shares

Rs. in Millions

Equity shares outstanding at the beginning of the year

3308845110

33088.450

Equity shares allotted pursuant to exercise of ESOP

5476656

54.770

Equity shares outstanding at the end of the year

3314321766

33143.220

 

Rights attached to Equity Shareholders:

 

The Company has only one class of equity shares having par value of ` 10 per share. Each holder of equity shares is entitiled to one vote per share.

 

Details of equity shares held by shareholders holding more than 5% shares:

 

Name of Shareholder

Number of Shares

% holding

Aditya Birla Nuvo Limited

837526221

25.27%

Birla TMT Holdings Private Limited

283565373

8.56%

Grasim Industries Limited

171013894

5.16%

Hindalco Industries Limited

228340226

6.89%

P5 Asia Investments (Mauritius) Limited

330000000

9.96%

Axiata Investments 2 (India) Limited

195427333

5.90%

TMI Mauritius Limited

464734670

14.02%

 

 

Share Options granted under the Employee Stock Option Scheme:

 

Under the Employee Stock Option Scheme (“ESOS 2006”), the Company has granted options to its eligible employees. Each option when exercised would be converted into one fully paid-up equity share of Rs.10 of the Company. Options granted under the ESOS 2006 carry no rights to dividends and no voting rights till the date of exercise. As at the end of financial year reporting date, details of outstanding options are as follows:

 

 

Particulars

No. of Options

Options outstanding at the beginning of the year

18471360

Options granted during the year

--

Options forfeited / lapsed during the year

237124

Options exercised during the year

5476656

Options outstanding at the end of the year

12757580

Weighted average exercise price of outstanding options (Amount in Rs.)

50.44

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

33,196.300

33,143.220

33,088.450

(b) Reserves & Surplus

122,647.200

107,055.790

96,256.930

(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)

155,843.500

140,199.010

129,345.380

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

171,438.800

105,743.960

86,121.560

(b) Deferred tax liabilities (Net)

15,310.500

10,231.170

5,527.390

(c) Other long term liabilities

13,972.700

8,266.480

4,519.080

(d) long-term provisions

2,167.000

2,018.860

1,389.630

Total Non-current Liabilities (3)

202,889.000

126,260.470

97,557.660

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

6,093.600

7,050.380

15,260.140

(b) Trade payables

26,343.700

24,315.890

29,703.760

(c) Other current liabilities

46,848.700

45,201.050

37,910.310

(d) Short-term provisions

1,865.000

1,239.690

63.280

Total Current Liabilities (4)

81,151.000

77,807.010

82,937.490

 

 

 

 

TOTAL

439,883.500

344,266.490

309,840.530

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

374,042.300

176,859.460

168,938.210

(ii) Intangible Assets

0.000

82,526.000

68,494.360

(iii) Capital work-in-progress

0.000

8,434.250

6,332.730

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

16,412.100

16,377.070

16,368.070

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

28,292.300

30,018.680

25,824.030

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

418,746.700

314,215.460

285,957.400

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

9.296.000

0.000

(b) Inventories

487.400

545.100

529.390

(c) Trade receivables

7,696.900

9,156.790

8,075.540

(d) Cash and cash equivalents

1,395.300

1,157.360

1,341.900

(e) Short-term loans and advances

11,522.600

9,887.340

13,918.620

(f) Other current assets

34.600

8.440

17.680

Total Current Assets

21,136.800

30,051.030

23,883.130

 

 

 

 

TOTAL

439,883.500

344,266.490

309,840.530

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

261,794.700

220,434.350

192,753.180

 

 

Other Income

0.000

434.390

470.150

 

 

TOTAL                                     (A)

261,794.700

220,868.740

193,223.330

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Personnel Expenditure

11,610.100

10,038.300

8,588.270

 

 

Network Expenses and IT Outsourcing Cost

74,745.500

63,551.950

56,592.560

 

 

License Fees and WPC Charges

29,238.000

24,752.500

23,231.830

 

 

Roaming & Access Charges

41,615.600

40,145.270

32,798.750

 

 

Subscriber Acquisition & Servicing Expenditure

 

21,324.320

20,540.750

 

 

Advertisement and Business Promotion Expenditure

25,522.100

4,535.610

4,210.760

 

 

Administration & Other Expenses

5,830.300

4,956.290

4,132.040

 

 

TOTAL                                     (B)

188,561.600

169,304.240

150,094.960

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

73,233.100

51,564.500

43,128.370

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

6,247.900

8,134.550

9,078.040

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

66,985.200

43,429.950

34,050.330

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

40,932.400

30,543.570

25,627.710

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

26,052.800

12,886.380

8,422.620

 

 

 

 

 

Less

TAX                                                                  (H)

9,159.700

4,703.790

2,657.240

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

16,893.100

8,182.590

5,765.380

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

18430.200

10247.610

4482.230

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

NA

18430.200

10247.610

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

International roaming services

NA

902.390

874.270

 

 

Termination / carriage services

NA

2067.870

885.440

 

TOTAL EARNINGS

NA

2970.260

1759.710

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Capital Goods (including spares)

NA

12863.710

11918.680

 

TOTAL IMPORTS

NA

12863.710

11918.680

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

- Basic

5.09

2.47

1.74

 

- Diluted

5.08

2.47

1.74

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

PAT / Total Income

(%)

6.45

3.70

2.98

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

9.95

5.85

4.37

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.15

4.03

2.93

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.17

0.09

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.14

0.80

0.78

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.26

0.39

0.29

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Share Capital

33088.450

33143.220

33196.300

Reserves & Surplus

96256.930

107055.790

122647.200

Net worth

129345.380

140199.010

155843.500

 

 

 

 

long-term borrowings

86121.560

105743.960

171438.800

Short term borrowings

15260.140

7050.380

6093.600

Total borrowings

101381.700

112794.340

177532.400

Debt/Equity ratio

0.784

0.805

1.139

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Sales

192,753.180

220,434.350

261,794.700

 

 

14.361

18.763

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Sales

192,753.180

220,434.350

261,794.700

Profit

5,765.380

8,182.590

16,893.100

 

2.99%

3.71%

6.45%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

No

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

--

22]

Litigations that the firm / promoter involved in

Yes

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

--

26]

Buyer visit details

--

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

LITIGATION DETAILS:

 

HIGH COURT OF GUJARAT

 

CIVIL APPLICATION No. 693 of 2013

 

In STAMP NUMBER / 2933 / 2013 ( PENDING )

 

Status : PENDING

(Converted from : O/ST/2934/2013 )

CCIN No : 001073201300693

 

Last Listing Date: 11/04/2014

 

Coram

HONOURABLE MR.JUSTICE JAYANT PATEL

 

 

S.NO.

Name of the Petitioner

Advocate On Record

1

DEPUTY COMMISSIONER OF INCOME TAX – 3

MRS MAUNA M BHATT for: Applicant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

 

S.NO.

Name of the Respondant

Advocate On Record

1

IDEA CELLULAR LIMITED

Singhi and Company  for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

2

IDEA CELLULAR TOWER INFRASTRUCTURE LIMITED

RULE UNSERVED for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png2

 

 

Presented On

: 25/10/2013

Registered On

: 20/11/2013

Bench Category

: -

District

: GANDHINAGAR

Case Originated From

: THROUGH ADVOCATE

Listed

: 5 times

 

StageName

: NOTICE RETURNABLE MATTERS

Classification

SJ - CIVIL APPLICATION - LIMITATION ACT, 1963 - CONDONATION OF DELAY

Act

LIMITATION ACT, 1963

Office Details

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

25/10/2013

APPEARANCE NOTE

MRS MAUNA M BHATT ADVOCATE for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

0

MRS MAUNA M BHATT(174) for P:1

2

25/10/2013

MEMO OF APPEAL/PETITION/SUIT

MRS MAUNA M BHATT ADVOCATE for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

20

MRS MAUNA M BHATT(174), for P:1

3

17/01/2014

VAKALATNAMA

SINGHI & CO ADVOCATE for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

5

SINGHI & CO(2725) for R:1

4

10/02/2014

AFFIDAVIT IN REPLY

SINGHI & CO ADVOCATE for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

0

SINGHI & CO(2725) for R:1

Court Proceedings

S. No.

Notified Date

Court

Code

Board Sr. No.

Stage

Action

Coram

1

06/12/2013

51

-

ADMISSION (FRESH MATTERS)

NEXT DATE

HONOURABLE MR.JUSTICE JAYANT PATEL

2

13/12/2013

51

4

ADMISSION (FRESH MATTERS)

FIXED RULE / ADMIT

HONOURABLE MR.JUSTICE JAYANT PATEL

3

17/01/2014

51

2

NOTICE RETURNABLE MATTERS

NEXT DATE

HONOURABLE MR.JUSTICE JAYANT PATEL

4

07/02/2014

51

4

NOTICE RETURNABLE MATTERS

NEXT DATE

HONOURABLE MR.JUSTICE JAYANT PATEL

5

28/02/2014

51

24

NOTICE RETURNABLE MATTERS

 

HONOURABLE MR.JUSTICE JAYANT PATEL

6

11/04/2014

51

2

NOTICE RETURNABLE MATTERS

 

HONOURABLE MR.JUSTICE JAYANT PATEL

            Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

1

CIVIL APPLICATION/693/2013

HONOURABLE MR.JUSTICE JAYANT PATEL

13/12/2013

N

ORDER

-

2

CIVIL APPLICATION/693/2013

HONOURABLE MR.JUSTICE JAYANT PATEL

28/02/2014

N

ORDER

-

3

CIVIL APPLICATION/693/2013

HONOURABLE MR.JUSTICE JAYANT PATEL

11/04/2014

N

ORDER

-

 

Certified Copy

S. No.

Applicant

Name

ApplicationType

Application Date

UOL Number

Order Date

Notify Date

Delivery Date

Status

Nature Of Document

1

MRS MAUNA M BHATT

ORDINARY

16/12/2013

O/38971/2013

13/12/2013

17/12/2013

17/12/2013

Delivered

ORDER

 

 

UNSECURED LOAN:

 

Particulars

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

Long Term Borrowings

 

 

Foreign Currency Loan

 

 

From Banks

13103.140

Deferred Payment Liabilities towards Spectrum

 

13313.980

Short Term Borrowings

 

 

Short Term Loan

 

 

From Banks

 

2.120

From Others

 

2793.870

Buyers’ Credit in Foreign Currency from Banks

 

4254.390

Commercial Papers from Banks

 

0.000

Total

NA

33467.500

 

 

UNAUDITED FINANCIAL RESULTS FOR THE THREE     QUARTER 30TH JUNE 2014

 (Rs. In Millions)

Particulars

Quarter Ended

( Unaudited)

 

30.06.2014

1. Income from operations

 

a) Net sales/ Income from operation (net of excise duty)

74,832.500

b) Other operating income

15.500

Total income from Operations(net)

74,848.000

2.Expenditure

 

a)       Personnel Expenditure

3,148.300

b)       Network Expenses & IT Outsourcing Cost

20,692.500

c)       Licence & WPC Charges

8,352.300

d)       Roaming & Access Charges

11,443.500

e)       Subscriber Acquisition & Servicing Expenditure & Advertisement and Business Promotion Expenditure

7,028.500

f)         Depreciation & Amortisation

10,497.500

g)       Other Expenditure

1,692.100

Total expenses

62,854.700

3. Profit from operations before other income and financial costs

11,993.300

4. Other income

0.000

5. Profit from ordinary activities before finance costs

11,993.900

6. Finance costs

2,076.700

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

9,916.600

8. Exceptional item

0.000

9. Profit from ordinary activities before tax Expense:

9,916.600

10.Tax expenses

3,491.200

11.Net Profit / (Loss) from ordinary activities after tax (9-10)

6,425.400

12.Extraordinary Items (net of tax expense)

0.000

13.Net Profit / (Loss) for the period (11 -12)

6,425.400

14.Paid-up equity share capital (Nominal value Rs.10/- per share)

35440.600

15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

 

16.i) Earnings per share

 

Basic

1.91

Diluted

1.90



Particulars

Quarter Ended

( Unaudited)

 

30.06.2014

A. Particulars of shareholding

 

1. Public Shareholding

 

- Number of shares

2023380831

- Percentage of shareholding

57.09%

2. Promoters and Promoters group Shareholding-

 

a) Pledged /Encumbered

 

Number of shares

-

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

0.00%

Percentage of shares (as a % of total share capital of the company)

0.00%

 

 

b) Non  Encumbered

 

Number of shares

1520679047

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

100.00%

Percentage of shares (as a % of total share capital of the company)

42.91%

 

 

B. Investor Complaints

 

Pending at the beginning of the quarter

0

Receiving during the quarter

107

Disposed of during the quarter

107

Remaining unreserved at the end of the quarter

0

 

 

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

 

Particulars

Quarter Ended

( Unaudited)

 

30.06.2014

1. Segment Revenue

 

Net Sales / Income from each segment

 

Mobility

73991.500

International Long Distance

1481.000

Total

75472.500

Less : Inter Segment Revenue

640.000

Net Sales

74832.500

 

 

Segment Result (Profit before Interest and Tax)

 

Profit before Finance Charges and Tax from each segment

 

Mobility

11656.600

International Long Distance

336.700

Profit before Finance Charges and Tax

11993.300

Less: Finance & Treasury Charges (Net)

2076.700

Profit before Tax

9916.600

 

 

3. Capital Employed  (Segment Assets - Segment Liabilities)

 

Mobility

317393.600

International Long Distance

173.000

Unallocated

71711.300

Total

389277.900

 

Notes:

 

1.       The above unaudited financial results, as reviewed by the Audit Committee of the Board, were approved and taken on record by the Board of Directors at their meeting held on July 21, 2014. Limited Review, as required under Clause 41 of Listing Agreement, has been carried out by the Statutory Auditors.

 

2.       The Securities Allotment Committee of the Board of Directors of the Company has at its meeting held on June 11, 2014, issued and allotted 223,880,597 Equity Shares of face value of Rs.10/- each to eligible Qualified Institutional Buyers at a price of Rs.134/- per Equity Share, including a premium of Rs.124/- per Equity Share, aggregating Rs.0.300 Million in accordance with the applicable provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and Companies Act, 2013

 

3.       On January 08, 2013, Department of Telecommunications (DoT) issued demand notices towards one time spectrum charges:

 

·         for spectrum beyond 6.2 Mhz in respective service areas for retrospective period from July 01, 2008 to December 31, 2012, amounting to Rs.3691.300 Millions and

·        
for spectrum beyond 4.4 Mhz in respective service areas effective January 01, 2013 till expiry of the period as per respective licenses, amounting to Rs.17443.700 Millions.



In the opinion of Company, inter-alia, the above demands amount to alteration of financial terms of the licenses issued in the past. The Company had therefore, petitioned the Hon’ble High Court of Bombay, where the matter was admitted and is currently sub-judice. The Hon’ble High Court of Bombay has directed the DoT, not to take any coercive action until the matter is further heard.

 

4.       The financial results for the quarter ended March 31, 2014 are balancing figures between audited results for the full financial year and the published year to date figures upto the third quarter.

 

5.       Previous periods’ figures have been regrouped and rearranged wherever necessary.

 

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10427852

17/05/2013 *

5,000,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B76769868

2

10408312

15/02/2013 *

4,000,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B71127054

3

10406050

28/01/2013 *

10,000,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, India

B69407096

4

10386431

18/10/2012

582,200,000.00

DENA BANK

Deccan Gymkhana Branch, Ashok Chambers, Deccan Gymkhana, Pune, Maharashtra - 411004, India

B62063946

5

10364978

26/06/2012 *

14,900,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B44161636

6

10348522

18/04/2012 *

6,559,915,205.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B39388442

7

10324223

14/12/2011 *

7,500,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B28564573

8

10322451

24/11/2011

500,000,000.00

CANARA BANK

Vile Parle East Branch, 38, Brij Bhoomi, Nehru Road, Vile Parle (East), Mumbai, Maharashtra - 400057, India

B27582154

9

10321276

21/10/2011

17,000,000,000.00

STATE BANK OF INDIA

Corporate Accounts Group, 3rd Floor, Neville House, J.N Haridia Marg, Ballard Estate, Mumbai, Maharashtra - 400001, India

B26948315

10

10273224

01/03/2011 *

776,774,400.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B09091000

11

10271760

01/03/2011 *

2,500,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B09091877

12

10270568

26/02/2011 *

3,000,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

B08157232

13

10229962

30/07/2010 *

23,000,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A92430040

14

10226955

01/07/2010

7,000,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A88685656

15

10213454

30/07/2010 *

48,000,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A92429083

16

10195039

30/07/2010 *

4,090,716,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A93386829

17

10136856

19/12/2008

500,000,000.00

BANK OF INDIA

Mumbai Large Corporate Branch, 4th Floor, 70-80,  Mahatma Gandhi Road, Fort, Mumbai, Maharashtra -
400001, India

A54338785

18

10114966

12/07/2008

3,000,000,000.00

CANARA BANK LIMITED

Fort Main Branch, Sir P.M. Road, Fort, Mumbai, Maharashtra - 400001, India

A42977082

19

10113936

30/07/2010 *

4,234,650,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A94058237

20

10093442

10/03/2008

1,350,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A34611194

21

10078911

22/10/2007

300,000,000.00

DENA BANK

Deccan Gymkhana Branch, Ashok Chambers, Deccan Gymkhana, Pune, Maharashtra - 411004, India

A26320341

22

10074035

30/07/2010 *

32,000,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A91033704

23

10065362

08/05/2007

1,900,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A18320820

24

10082783

08/05/2007

1,900,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A18321182

25

10082902

08/05/2007

1,900,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A18321570

26

10047846

09/04/2007

1,100,000,000.00

UTI BANK LIMITED

1262/B, Sterling Plaza, Jangli Maharaj Road, Deccan Gymkhana, Pune, Maharashtra - 411004, India 

A14304224

27

10028261

23/11/2006

50,000,000.00

DENA BANK

Deccan Gymkhana Branch, Pune, Maharashtra - 411004, India

A07685126

28

10028084

23/11/2006

100,000,000.00

DENA BANK

Deccan Gymkhana Branch, Pune, Maharashtra - 411004, India

A07685449

29

10332478

23/11/2006

100,000,000.00

DENA BANK

Deccan Gymkhana Branch, Pune, Maharashtra - 411004, India

A07685787

30

10033606

23/11/2006

300,000,000.00

DENA BANK

Deccan Gymkhana Branch, Pune, Maharashtra - 411004, India

A07684533

31

10019909

09/05/2007 *

42,240,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A04933529

32

10020059

30/07/2010 *

42,240,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A93119972

33

10020080

09/05/2007 *

42,240,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A14690747

34

10020296

05/04/2007 *

42,240,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

A14239065

35

10008663

08/06/2006

1,000,000,000.00

Industrial Development Bank Of India

Head Off: Idbi Tower, Wtc Complex, Whe Parade, B Ranch: Idbi Complex, Near Lal Bunglow, C.G.R oad, Mumbai, Maharashtra - 400005, India

A01964162

36

80014604

22/09/2005

1,900,000,000.00

IDBI Bank Limited

IDBI Tower, Wtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India

-

37

90039803

11/02/2005

4,000,000.00

PUNJAB NATIONAL BANK

MOOLCHAND COMMERIAL COMPLEX, DEFENCE COLONY, NEW
DELHI, DELHI, INDIA

-

38

90039110

28/06/2004

1,000,000,000.00

Infastructure Development Finance Compnay Limited

Ramon House, 169; Backbay Reclamanation, Mumbai,
Maharashtra - 400020, India

-

39

90149492

20/02/2004

3,750,000.00

Idbi Trusteeship Services Limited

227 Vinay K Shah Marg Nariman Point, Mumbai, Maharashtra - 400021, India

-

40

80014941

20/02/2004

1,700,000,000.00

IDBI Trusteeship Services Limited

10th Floor; Nariman Bhawan, 227; Vinay K. Shah Marg; Nariman Point, Mumbai, Maharashtra - 400021, India

-

41

80014664

20/02/2004

16,800,000,000.00

IDBI Trusteeship Services Limited

10th Floor; Nariman Bhawan, 227; Vinay K. Shah Marg; Nariman Point, Mumbai, Maharashtra - 400021, India

-

42

80014668

20/02/2004

16,800,000,000.00

IDBI Trusteeship Services Limited

10th Floor; Nariman Bhawan, 227; Vinay K. Shah Marg; Nariman Point, Mumbai, Maharashtra - 400021, India

-

43

80014670

20/02/2004

16,800,000,000.00

IDBI Trusteeship Services Limited

10th Floor; Nariman Bhawan, 227; Vinay K. Shah Marg; Nariman Point, Mumbai, Maharashtra - 400021, India

-

44

80014937

20/02/2004

16,800,000,000.00

IDBI Trusteeship Services Limited

10th Floor; Nariman Bhawan, 227; Vinay K. Shah Marg; Nariman Point, Mumbai, Maharashtra - 400021, India

-

45

90113214

21/02/2004 *

16,800,000,000.00

IDBI Trusteeship Services Limited

10th Floor; Nariman Bhawan, 227; Vinay K. Shah Marg; Nariman Point, Mumbai, Maharashtra - 400021, India

-

46

90201940

20/02/2004

16,800,000,000.00

IDBI Trusteeship Services Limited

10th Floor; Nariman Bhawan, 227; Vinay K. Shah Marg; Nariman Point, Mumbai, Maharashtra - 400021, India

-

47

90111631

28/05/2002 *

1,250,000,000.00

Bank Of Maharashtra

1501; Shivajinagar, Lokmangal, Pune, Maharashtra
- 411005, India

-

48

90111627

19/04/2002 *

5,000,000.00

Bank Of Maharashtra

1501; Shivajinagar, Lokmangal, Pune, Maharashtra
- 411005, India

-

49

90037153

11/02/2005 *

3,000,000.00

Punjab National Bank

Moolchand Commecial Complex, Defence Colony, New
Delhi, Delhi, India

-

50

90062395

03/12/2001

200,000,000.00

HDFC Bank Limited

6th Floor H T House, K G Marg, New Delhi, Delhi -
110001, India

-

51

90062332

12/09/2001

270,000,000.00

Punjab National Bank

Large Corporate Branch, A-9; Cannaught Place, New Delhi, Delhi, India

-

52

90062322

28/08/2001

200,000,000.00

UTI BANK LIMITED

Statesman House 148, Barakhamba Road, New Delhi, Delhi - 110001, India

-

53

90035520

10/12/1999 *

20,000,000.00

CITIBANK

Jeevan Vihar Building, Bad Form, New Delhi, Delhi - 110001, India

-

54

80020070

01/12/1997

624,800,000.00

Bob Sbi Sbicibl Sakura Bank Limited British Bank Of Middle East

Industrial Finance Branch, Cawasji Patel Street, Bombay, Maharashtra - 400001, India

-

55

90034382

16/02/2001 *

1,000,000,000.00

Chase Manatthan Bank

Marker Chamber Vi; 7/F, Nariman Point, Mumbai, Maharashtra, India

-

56

90034366

16/02/2001 *

1,000,000,000.00

Chase Manatthan Bank

Marker Chamber Vi; 7/F, Nariman Point, Mumbai, Maharashtra, India

-

57

90034258

18/08/1999 *

1,725,000,000.00

The Chase Manhattan Bank

Mafatlal Centre, 9-Floor; Nariman Point, Mumbai,
Maharashtra - 400021, India

-

 

 

FIXED ASSETS:

 

·         Freehold Land

·         Leasehold Land

·         Buildings

·         Plant and Machinery

·         Furniture and Fixtures

·         Office Equipment

·         Vehicles

·         Entry/License Fees

·         Computer - Software

·         Bandwidth

 

 

NEWS:

 

IDEA CELLULAR LAUNCHES I-PLAN, LETS YOU CUSTOMISE YOUR POSTPAID MOBILE PLANS

 

Idea Cellular has launched a new plan called “i-Plan”, which allows users to choose, create and customise their monthly plan from a range of data and voice plans. Idea is offering its new plan to prepaid customers.

 

With Idea i-Plan, users can choose from a range of rental plans, starting from Rs. 199 to Rs. 999. The plan allows users to choose from packs on data, voice and SMS. Idea is also offering the option of add-on packs which users can combine with their monthly rentals to create their best suited plan.

 

The i-Plan offer is available for new and existing postpaid Idea subscribers who can activate the plan by simply selecting the rental plan, followed by the free packs, and Top-up with any add-on pack if chosen. To choose the i-Plan, Idea customers can simply dial ‘121’ from their Idea connection or visit any Idea store. The Idea i-Plan is available across all circles (except Punjab) in India. 

 

IDEA CELLULAR SLASHES 2G DATA TARIFFS BY UP TO 90%

 

New Delhi: In a bid to promote mobile broadband penetration, Idea Cellular today slashed 2G data tariffs by up to 90 per cent across the country and 3G tariffs by as much as 33 percent for six months starting November 15.

 

The reduced tariffs will be available to existing and new prepaid and postpaid users, the company said in a statement. At the new rates, 3G data tariffs are now on par with 2G across all 10 Idea 3G circles. Users can access 2G and 3G data at 2 paise per 10 KB.


"Over 33 million existing and new data users on the Idea networks can now enjoy reduced data tariffs on their 2G and 3G prepaid and postpaid handsets and dongles. The offer will be effective from November 15, 2013, and be available for six months," it said.

 

Vodafone India had slashed data tariffs by up to 80 per cent across the country. Bharti Airtel in June had reduced rates by up to 90 per cent in Punjab and Haryana.

 

"Idea has reduced 2G data tariff by up to 90 per cent across all 22 circles, enabling users to avail 2G data at 2 paise per 10 KB. Idea's 3G users will now be able to save up to 30 per cent on their monthly data charges as the same tariff will also be available across all 10 Idea 3G circles," the company said.

 

Idea has 3G spectrum in Maharashtra and Goa, Madhya Pradesh and Chhattisgarh, Kerala, UP West and East, Andhra Pradesh, Gujarat, Haryana, Jammu and Kashmir and Himachal Pradesh.

 

The current tariffs for 2G are 2 paise per KB while for 3G, the rates are 3 paise per 10 KB. "The reduction in data tariff is aimed at catalysing data adoption amongst the masses and empowering them with the power of mobile Internet at an affordable cost," Idea Cellular Deputy Managing Director Ambrish Jain said.

 

The revised tariffs will not only drive more data usage from existing Idea users but will also attract new users to Idea's growing subscriber portfolio, the company said.

 

IDEA RECEIVES GRANT FROM U.S. TRADE & DEVELOPMENT AGENCY FOR GREEN TELECOM PILOT IN INDIA

 

Mumbai, 3nd December 2013: Idea Cellular, India’s 3rd largest mobile operator, has been awarded a Grant of over USD 1 million from the US Trade & Development Agency (USTDA), to fund a pilot involving deployment of Solar Hybrid Methanol Based Fuel Cell (SHMBFC) at telecom sites in India.

 

In a first ever funding of a Green Telecom project in India by the USTDA, Idea will be supported by ICF International (Fairfax, VA), which will undertake a feasibility study and pilot project that will assess the technical, economic and financial feasibility of deploying methanol based fuel cell (SHMBFC) systems that provide continuous and uninterruptible power to off grid telecom towers at five sites belonging to Idea. The project aims to assist Idea Cellular’s effort to replace stationary diesel engines by demonstrating SHMBFC technology at five telecom tower sites using 2.5 and 5.0 kilowatt fuel cell units.

 

A Grant Agreement to this effect was signed between the US Ambassador to India Nancy J. Powell and Idea MD Himanshu Kapania, witnessed by Jamie Merriman, Country Manager - South Asia, USTDA; Nitin Zamre, Country Head, ICF Inc.; and Anil Tandan, CTO, Idea Cellular, at the US Consulate in Mumbai, last evening.

 

“India has a growing need for new sources of cleaner energy. Ultimately, this pilot project intends to demonstrate the viability of replacing diesel generators with fuel cell power systems not only at telecom towers, but also at other sites throughout the country that require reliable back-up power solutions such as hospitals, data centers and commercial areas,” said USTDA Director Leocadia I. Zak. “This grant demonstrates the active collaboration between the U.S. government and the U.S. and Indian private sectors to advance clean energy in India.”

 

During the signing ceremony, Ambassador Nancy Powell noted, “Projects like these directly support U.S. government policy priorities to promote domestic energy production, rural electrification, and cleaner alternatives to fossil fuels in India. And it will lessen the country’s dependence on oil and gas imports. I congratulate USTDA and ICF International, and Idea Cellular on this smart energy initiative.”

 

Accepting the grant, Mr. Himanshu Kapania, Managing Director, Idea Cellular said, “Idea Cellular, an Aditya Birla Group Company, has been a pioneer in Renewable Energy Technologies deployment to power telecom sites in India, for the past several years. The grant offered by the USTDA will further spur our efforts towards reducing carbon emissions from telecom infrastructure in the country.”

 

Idea has been at the forefront of adopting environmentally sustainable practices to reduce carbon emissions and operating costs of telecom network operations in India. After over a decade long effort in this area, Idea started its ‘Green Idea Programme’ in 2012, which is aimed at Carbon emission reduction through the use of renewable energies such as Hydrogen, Solar, and Battery-DG Hybrid systems; deployment of highly energy efficient hardware; and optimisation of Generator and Air Conditioner usage, besides others.

 

Over a decade ago, Idea initiated passive infrastructure sharing in the Indian Telecom industry, and spear-headed an industry venture which not only later became a viable business project, but was also enshrined in the National Telecom Policy mandate of the Government. Nearly 90% of Idea’s over 100,000 telecom sites are operating from shared locations which has helped the company reduce carbon emissions, and operating costs, substantially.

 

Way back in 2006, Idea, along with the GSM Association, accomplished a project utilising Bio-fuel for running diesel generators at telecom sites. Idea is the first and only mobile operator in India to use Hydrogen Fuel Cells for running Base Transceiver Stations (BTS) sites.

 

With a two-fold objective of reducing carbon emission and operating costs, Idea has undertaken several other initiatives such as the deployment of Outdoor BTSs which do not require air conditioning and lead to almost 35% less energy requirement. Over 44% of Idea sites are now outdoors, hence, more energy efficient. Idea uses Low Power Network Hardware, and Re-uses hardware, thus minimizing electronic waste. Over 75% of Idea’s BTSs procured in FY13 are 40% more energy efficient than the existing models.

 

With the support from organizations such as the USTDA, and global expertise from ICF Inc., Idea aims to undertake and execute more such energy efficient projects for CO2 emission reduction from telecom sites across India.

 

IDEA'S SMART AND STYLISH, 'AURUS 4', FOR THE TECH-SAVVY YOUTH!

 

Mumbai, November 28th, 2013: Idea Cellular, India’s 3rd largest mobile operator, today launched the ‘Aurus 4’, dual-sim smartphone in India, further strengthening its 3G devices portfolio. The Aurus 4 is the latest addition in Idea’s popular Aurus series of 3G smartphones which are rich in features and smart on price.

 

Being termed as the ideal smartphone for the youth, the Idea Aurus 4 is loaded with interesting features such as a 5MP primary camera along with video calling facility, and gives users an extraordinary display experience through a 11.4 cms (4.5”) TFT display with 16 m colors. The dual-SIM smartphone powered by a 1.3 GHz dual-core processor runs on Android Jelly Bean (4.2) giving users access to loads of features such as internet surfing, video-conferencing facility, email updates, games, social networking, smart applications and various exciting widgets. Backed by a powerful 1800 mah battery, the smartphone also offers long hours of talk and idle time.

 

The phone is available in a smart glossy finish, styled around a sleek design. Idea Aurus 4 is affordably priced at Rs. 8,999 and in this price range provides an audio-visual and social media experience like never before.

 

Launching the 3G smartphone, Mr. Sashi Shankar, Chief Marketing Officer, Idea Cellular said, “The young and savvy youth of India has a huge appetite for content on mobile, but is deterred due to highly priced smartphones in India. Idea is bridging this gap by offering 3G smartphones packed with high-end features at relat4ely low price. Idea Aurus 4 is the latest addition to our growing portfolio of 3G devices which is enabling a large base of Idea users experience 3G for the first time in India.”

 

Aurus 4 has been launched close on the heels of Idea ULTRA, the company’s first smartphone in the 12 cms (5”) category. Idea has previously sold over 6 lakh devices from a dozen models in the 8.89 cm (3.5”), 10.16 cm (4”) and 11.43 cm (4.5”) categories, in the Indian market.

 

Idea plans to retail the new Aurus 4 through its own retail and service outlets across major 3G markets – Gujarat, Maharashtra & Goa, Andhra Pradesh, Madhya Pradesh & Chhattisgarh, Kerala, UP West & East, Haryana, J&K and HP.

 

Highlights – Q2 FY14

 

Idea – Standalone1 – Revenue Rs . 63,170.000 millions, EBITDA Rs . 17,430.000 millions, PAT Rs . 3,985.000 millions

 

Idea – Consolidated2 – Revenue Rs . 63,233.000 millions, EBITDA Rs . 19,715.000 millions, PAT Rs . 4,476.000 millions

 

 

Idea Standalone1

Idea Consolidated2

Q2FY14

Q1FY14

H1FY14

H1FY13

Q2FY14

Q1FY14

H1FY14

H1FY13

Revenue - Established Service Areas 3

59853.000

61965.000

121818.000

95878.000

 

 

 

 

Revenue - New Service Areas 4

3317.000

3390.000

6707.000

12985.000

 

 

 

 

Total Revenue

63170.000

65355.000

128525.000

108862.000

63233.000

65388.000

128620.000

108177.000

EBITDA - Established Service Areas 3

18689.000

19750.000

38439.000

28952.000

 

 

 

 

EBITDA - New Service Areas 4

(1259.000)

(1314.000)

(2573.000)

(3448.000)

 

 

 

 

Total EBITDA

17430.000

18436.000

35866.000

25504.000

19715.000

20763.000

40478.000

28581.000

EBITDA% - Established Service Areas 3

31.2%

31.9%

63.1%

30.2%

 

 

 

 

EBITDA% - New Service Areas 4

-37.9%

-38.8%

-76.7%

-26.6%

 

 

 

 

Total EBITDA%

27.6%

28.2%

27.9%

23.4%

31.2%

31.8%

31.5%

26.4%

Depreciation & Amortisation

9811.000

10407.000

20218.000

15567.000

10795.000

11353.000

22148.000

16850.000

EBIT

7619.000

8030.000

15649.000

9937.000

8920.000

9410.000

18330.000

11730.000

Interest and Financing Cost (Net)

1575.000

1832.000

3407.000

4201.000

1949.000

2211.000

4160.000

4834.000

Dividend from Indus

--

838.000

838.000

1543.000

--

--

--

--

PBT

6044.000

7036.000

13080.000

7280.000

6971.000

7199.000

14717.000

6896.000

PAT

3985.000

4829.000

8813.000

5500.000

4476.000

4627.000

9103.000

4742.000

Cash Profit 5

14556.000

17438.000

31993.000

22816.000

16165.000

18264.000

34429.000

23379.000

 

Note: Mumbai and Bihar service areas have been included in Established Service Areas from Q1FY14, previous quarters figures have not been restated.

With increasing proportion of rural subscribers, the seasonal slowdown in the second quarter has become more pronounced resulting in sharp contraction in the ‘Voice Minutes of Use’ by 5.8% to 138.8 billion minutes compared to 147.3 billion minutes in Q1FY14.

 

The long term business trends remain robust and company is on course of its mission of consistent, competitive, responsible and profitable growth. This quarter Idea standalone revenue has grown by 18.1% on YoY basis to Rs. 63,170.000 million against Rs. 53,481.000 million revenue in Q2FY13. The company further strengthened its ‘Revenue Market Share’ to 16.2% and ‘VLR subscriber Market Share’ to 16.7% in Q1FY14, an improvement of over 1% in one year. Idea continues to invest in long term value creators – launched 4,312 new sites (2G+3G) to reach network site EoP of 114,001 sites (2G+3G) and expanded optical fibre network to 77,000 km. Inspite of higher network rollout, Idea is pleased to record sharp YoY standalone EBITDA growth of 38.2%.

 

The ‘Voice Minutes’ expansion by 10.5% on YoY basis from 125.6 billion minutes in Q2FY13 was ably supported by annual active Idea customer addition of 13.1 million, recording industry highest incremental VLR subscriber share@ 39.5% (July’12 to July’13).

 

With company clamping down on promotional minutes for ‘New and Existing Customers’, the ‘Average Realised Rate per Minute’ improved over the year by 3.4 paisa/minute (8.3%) to 44.7 paisa/minute. The ‘Value Added Services’ (VAS) contribution also increased to 16.1% (15.6% in Q2FY13) further improving overall ARPM.

 

The VAS services growth is primarily led by higher ‘Mobile Data’ adoption. The Data revenue as a % of ‘Service Revenue’ improved by 3.3% on YoY basis to 8.7%. With 14.7 million additional Idea subscribers initiating mobile data usage, EoP of data subscribers increased to 33.6.000 million (2G+3G). The blended per user data usage grew to 178 Megabytes, thereby data volume exploded @99.6% to 17.5 billion Megabytes in Q2FY14 over last year. However, the realised rate (ARMB) is under competitive pressure falling by 1.0 paisa per MB (3.2%) on YoY basis to 31.0 paisa per MB.

 

In comparison, the ‘Non Data VAS’ revenue as a % of ‘Service Revenue’ has fallen to 7.4%, drop of 2.8% contribution over the year. The ‘Non Data VAS’ services are under pressure due to TRAI new regulation of double confirmation and threat emerging from free messenger & chat ‘OTT’ applications/services.

 

The company remains focused on efficient cost management with overall ‘Subscriber Acquisition and Marketing Costs’ reduction by 1.6% on YoY basis, primarily due to lower blended subscribers churn at 5.3% in Q2FY14 vs 10.1% in Q2FY13.

 

The revenue growth and scale benefit translated into healthy standalone EBITDA margin of 27.6%, YoY improvement by 4.0%. This helped company generate Cash Profit of Rs. 14,556.000 million, a growth of 18.2% over Q2FY13, further strengthening Idea’s Balance Sheet.

 

The ‘Net Interest and Finance Cost’ was lower by Rs. 257.000 million at Rs. 1,575.000 million. Company’s Net Debt further fell from Rs. 102,199.000 million in Q1FY14 to Rs. 92,864.000 million in Q2FY14, helping ‘Net Debt to Annualised EBITDA’ ratio reach enviable 1.33.

 

The double bottom line drivers Voice and Data Business, helped Idea reach a standalone PAT to Rs. 3,985.000 million, 13.2% growth on Q2FY13 PAT of Rs. 3,519.000 million (despite including Rs. 1,543.000 million dividend from Indus). At consolidated level Idea revenue including 16% Indus contribution has grown by 19.0% on YoY basis and consolidated EBITDA by 38.6% to Rs. 19,715.000 million in Q2FY14. The consolidated EBITDA margin of 31.2% is a YoY improvement of 4.4%. The consolidated PAT of Rs. 4,476.000 million grew by 86.5% compared to Q2FY13 PAT of Rs. 2,400.000 million.

 

As competitive intensity declines and overcapacity phase comes to an inevitable end, visibility of spectrum quantum and pricing improves, Idea expects to further consolidate its position in the telecom voice and data market.

Notes:

1.       Idea Standalone represents Idea, and its 100% subsidiaries. Effectively, this encompasses all operations, excluding the Joint Venture i.e. Indus.

2.       Idea Consolidated represents Idea Standalone and proportionate consolidation of Indus (@16%).

3.       Established Service Areas represent 15 service areas namely Maharashtra and Goa, Gujarat, Andhra Pradesh, Madhya Pradesh and Chhattisgarh, Delhi, Kerala, Haryana, Uttar Pradesh West and Uttaranchal, Uttar Pradesh East, Rajasthan, Himachal Pradesh, Punjab, Karnataka as well as Mumbai and Bihar service areas from Q1FY14 onwards. For FY13 Established Service Areas were 13, not including Mumbai and Bihar

4.       New Service Areas represent 7 service areas of Orissa, Tamil Nadu, J and K, Kolkata, West Bengal, Assam and North East from Q1FY14 onwards. For FY13 New Service Areas were 9, including Mumbai and Bihar.

5.       Cash Profit is calculated as summation of PAT, Depreciation and Amortisation, charge on account of ESOPs and Deferred tax, for the relevant period.

6.       6. Figures for past periods have been regrouped, wherever necessary.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                              None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.14

UK Pound

1

Rs.102.22

Euro

1

Rs.81.7

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

VNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

69

 

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

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.