MIRA INFORM REPORT
|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
TATA SKY LIMITED (w.e.f July 2005) |
|
|
|
|
Formerly Known
As : |
SPACE TV LIMITED (w.e.f 17.05.2004) SPACE TV PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, C-1, Wadia International Centre ( |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.01.2001 |
|
|
|
|
Com. Reg. No.: |
11-130365 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11680.356 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92120MH2001PTC130365 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS33388F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS9294M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
To provide direct-to-home (DTH) broadcasting services to
cable TV viewers across the country. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Net worth of the company has been eroded due to continuous accumulated
loss incurred from its operations. However, company gets good support from its holdings company. Trade relations are reported as fair. Business is active. Payment
terms are regular as per commitment. In view of strong support, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil Corporation
plans to invest Rs 7650 crore in setting up a petrochemical complex at its
almost complete Paradip refinery in Odhisha in three to four years. The company
board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A (Long Term Rating) |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
March 28, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 (Short Term Rating) |
|
Rating Explanation |
Have very strong degree of carry safety and
lowest credit risk. |
|
Date |
March 28, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Co-Operative (91-22-66133000)
LOCATIONS
|
Registered Office : |
3rd Floor, C-1, Wadia International Centre ( |
|
Tel. No.: |
91-22-66133000 |
|
Fax No.: |
91-22-66133030 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 24.06.2013
|
Name : |
Mr. Ishaat Riyasat Hussain |
|
Designation : |
Director |
|
Address : |
Flat No.222, 2nd Floor, B Wing, NCPA, Residential Apartments, Sir Dorab Tata Road, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1947 |
|
Date of Appointment : |
06.02.2004 |
|
DIN No.: |
00027891 |
|
|
|
|
Name : |
Mr. Bharat Damodar Vasani |
|
Designation : |
Director |
|
Address : |
Flat No. B-11, Peregrine 400, Veer Savarkar Marg,
Prabhadevi, Mumbai-400025, |
|
Date of Birth/Age : |
24.08.1958 |
|
Date of Appointment : |
06.02.2004 |
|
DIN No.: |
00040243 |
|
|
|
|
Name : |
Mr. Farokh Nariman Subedar |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
24.09.1955 |
|
Date of Appointment : |
06.02.2004 |
|
DIN No.: |
00028428 |
|
|
|
|
Name : |
Mr. Harit Nagpal |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 5 2nd Floor, 27-A, |
|
Date of Birth/Age : |
02.11.1961 |
|
Date of Appointment : |
01.01.2011 |
|
PAN No.: |
AADPN5389A |
|
DIN No.: |
00481307 |
|
|
|
|
Name : |
Mr. Uday Shankar |
|
Designation : |
Director |
|
Address : |
Vastu CHS 3/4th Floor, Plat Nos. 301 and 302, Dr. R G Thandani Marg, Worli Sea Face, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1961 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
01755963 |
|
|
|
|
Name : |
Mr. Jan Koeppen |
|
Designation : |
Director |
|
Address : |
Flat 815, Onslow, Gardens |
|
Date of Birth/Age : |
11.12.1970 |
|
Date of Appointment : |
26.03.2010 |
|
DIN No.: |
03045923 |
|
|
|
|
Name : |
Mr. Rohit Sipahimalani |
|
Designation : |
Director |
|
Address : |
House 22, 2nd Avenue, Singapore-266673 |
|
Date of Birth/Age : |
03.10.1966 |
|
Date of Appointment : |
11.10.2011 |
|
DIN No.: |
00904065 |
KEY EXECUTIVES
|
Name : |
Mr. Kumud Goel |
|
Designation : |
Secretary |
|
Address : |
945/946, Kohinoor, |
|
Date of Birth/Age : |
31.05.1976 |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
AEZPJ8917L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Tata Sons Limited, India |
|
584017278 |
|
Tata Sons
Limited, |
|
100 |
|
Tata Sons
Limited, |
|
100 |
|
Tata Sons
Limited, |
|
100 |
|
Tata Sons
Limited, |
|
100 |
|
Tata Sons
Limited, |
|
100 |
|
Network Digital
Distribution Services FZ- LLC, |
|
233607111 |
|
Baytree
Investments ( |
|
116803557 |
|
TS Investments
Limited, |
|
233607111 |
|
|
|
|
|
Total |
|
1168035557 |
As on: 18.09.2013
|
Names of Allottees |
|
No. of Shares |
|
Network Digital Distribution
Services FZ- LLC, Dubai |
|
22222224 |
|
Baytree
Investments ( |
|
11111112 |
|
TS Investments
Limited, |
|
22222224 |
|
Omega FII
Investment Pte Limited, Singapore |
|
50807222 |
|
Tata Capital Limited,
India |
|
4748338 |
|
|
|
|
|
Total |
|
111111120 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
30.00 |
|
Bodies corporate |
|
70.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To provide direct-to-home (DTH) broadcasting services to
cable TV viewers across the country. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
S. R. Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby 29, Senapati Bapat Marg, Dadar (West) Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
ACHFS9118A |
|
|
|
|
Name 2 : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, |
|
PAN No.: |
AADFD2337G |
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|
|
|
Fellow Subsidiary
Company : |
CIN No.: L22210MH1995PLC084781
CIN No.: U85110MH2000PLC128425
CIN No.: U66010MH2000PLC128403
CIN No.: L64200MH1995PLC086354
CIN No.: U74899DL1995PLC066685
CIN No.: U65990MH1994PLC077090
CIN No.: U65990MH1991PLC060670
CIN No.: L67200MH1937PLC002622
CIN No.: U64200AP1995PLC044060
CIN No.: U72900MH2000PLC126195
CIN No.: U31900MH2005PLC158120 |
|
|
|
|
Subsidiary Company
: |
ACTVE Digital Services Private Limited CIN No.: U64120MH2006PTC159808 |
|
|
|
|
Holding Company : |
Tata Sons Limited CIN No.: U99999MH1917PLC000478 |
CAPITAL STRUCTURE
After: 24.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1279146677 |
Equity Shares |
Rs.10/- each |
Rs.12791.467 Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1168035557 |
Equity Shares |
Rs.10/- each |
Rs.11680.356 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 |
11680.356 |
11065.600 |
9836.089 |
|
(b) Reserves & Surplus |
(30927.563) |
(27918.263) |
(27764.708) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
1487.708 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
(19247.207) |
(15364.955) |
(17928.619) |
|
|
|
|
|
|
(3) Non-current
liabilities |
|
|
|
|
(a) long-term borrowings |
6641.810 |
6371.901 |
7375.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
263.220 |
0.000 |
0.000 |
|
(d) long-term
provisions |
722.266 |
71.149 |
61.500 |
|
Total Non-current
Liabilities (3) |
7627.296 |
6443.050 |
7436.500 |
|
|
|
|
|
|
(4) Current
liabilities |
|
|
|
|
(a) Short term borrowings |
8875.365 |
3166.044 |
5103.441 |
|
(b) Trade payables |
1767.897 |
1845.845 |
3283.313 |
|
(c) Other current liabilities |
25232.516 |
17475.885 |
10578.790 |
|
(d) Short-term provisions |
1075.807 |
791.517 |
847.359 |
|
Total Current
Liabilities (4) |
36951.585 |
23279.291 |
19812.903 |
|
|
|
|
|
|
TOTAL |
25331.674 |
14357.386 |
9320.784 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12784.364 |
7626.003 |
3535.641 |
|
(ii) Intangible Assets |
2096.638 |
1724.670 |
1031.602 |
|
(iii) Capital work-in-progress |
8052.489 |
3146.787 |
2733.979 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.953 |
1.953 |
1.953 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
499.049 |
362.080 |
394.383 |
|
(e) Other Non-current assets |
149.691 |
112.826 |
97.541 |
|
Total Non-Current
Assets |
23584.184 |
12974.319 |
7795.099 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
50.000 |
120.000 |
0.000 |
|
(b) Inventories |
55.639 |
10.869 |
1.755 |
|
(c) Trade receivables |
304.687 |
161.035 |
535.237 |
|
(d) Cash and cash equivalents |
58.732 |
151.877 |
29.183 |
|
(e) Short-term loans and advances |
944.275 |
812.048 |
942.645 |
|
(f) Other current assets |
334.157 |
127.238 |
16.865 |
|
Total Current
Assets |
1747.490 |
1383.067 |
1525.685 |
|
|
|
|
|
|
TOTAL |
25331.674 |
14357.386 |
9320.784 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22864.733 |
17296.997 |
13538.087 |
|
|
|
Other Income |
103.476 |
58.972 |
40.861 |
|
|
|
TOTAL (A) |
22968.209 |
17355.969 |
13578.948 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1624.296 |
1231.101 |
13385.454 |
|
|
|
Changes in inventories of finished goods, work-in progress and stock
in trade |
0.000 |
0.000 |
(535.001) |
|
|
|
Employee Related Expenses |
1335.439 |
1161.478 |
932.797 |
|
|
|
Other expenses |
17608.431 |
14479.288 |
2154.309 |
|
|
|
TOTAL (B) |
20568.166 |
16871.867 |
15937.559 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2400.043 |
484.102 |
(2358.611) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1563.498 |
1723.184 |
1343.342 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
836.545 |
(1239.082) |
(3701.953) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4625.872 |
1742.348 |
1035.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(3789.327) |
(2981.430) |
(4737.239) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(3789.327) |
(2981.430) |
(4737.239) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(3.25) |
(2.82) |
(5.11) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(16.50)
|
(17.18)
|
(34.89) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(16.57)
|
(17.24)
|
(34.99) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(21.93)
|
(26.60)
|
(71.94) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.19
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(0.81)
|
(0.62)
|
(0.70) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.05
|
0.06
|
0.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
9836.089 |
11065.600 |
11680.356 |
|
Reserves & Surplus |
(27764.708) |
(27918.263) |
(30927.563) |
|
Net
worth |
(17928.619) |
(16852.663) |
(19247.207) |
|
|
|
|
|
|
long-term borrowings |
7375.000 |
6371.901 |
6641.810 |
|
Short term borrowings |
5103.441 |
3166.044 |
8875.365 |
|
Total
borrowings |
12478.441 |
9537.945 |
15517.175 |
|
Debt/Equity
ratio |
(0.696) |
(0.566) |
(0.806) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13538.087 |
17296.997 |
22864.733 |
|
|
|
27.765 |
32.189 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13538.087 |
17296.997 |
22864.733 |
|
Profit |
(4737.239) |
(2981.43) |
(3789.327) |
|
|
(34.99%) |
(17.24%) |
(16.57%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
4527.712 |
5959.804 |
1875.000 |
|
|
|
|
|
|
Total |
4527.712 |
5959.804 |
1875.000 |
|
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 |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Term loans from banks |
4510.208 |
1871.901 |
|
SHORT-
TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
1500.000 |
0.000 |
|
Foreign currency term loans from banks |
1717.474 |
305.647 |
|
Intercorporate deposits |
1310.000 |
500.000 |
|
Deposits from others |
250.000 |
0.000 |
|
Other loans and advances |
500.669 |
1511.556 |
|
|
|
|
|
Total |
9788.351 |
4189.104 |
OPERATIONS
The DTH sector in India is a six-player industry with about 56 million connections reported by March 2013. About 10.5 million fresh connections got added during this financial year. Tata Sky had about 26% share of the fresh additions of the year and about 31% of the gross additions by March 2013 retaining the leadership position in gross additions throughout the year. During the year, the Company reached the milestone of 11.5 million connections
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10461291 |
22/10/2013 |
3,500,000,000.00 |
IDBI Bank Limited |
IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B89987176 |
|
2 |
10454027 |
19/09/2013 |
2,000,000,000.00 |
Axis Trustee Services Limited |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG
BUDHKAR MARG, WORLI, MUMBAI, MAHARAS |
B87051868 |
|
3 |
10418178 |
07/03/2013 |
1,600,000,000.00 |
Axis Trustee Services Limited |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG
BUDHKAR MARG, WORLI, MUMBAI, MAHARAS |
B72069446 |
|
4 |
10169999 |
16/06/2009 |
3,000,000,000.00 |
Bank of India |
ANDHERI CORPORATE BANKING BRANCH, MDI BUILDING, 1ST FLOOR, 28 S V ROAD, ANDHERI (W), MUMBAI, MAHARASHTRA - 400058, INDIA |
A67222521 |
|
5 |
10152794 |
26/04/2013 * |
3,010,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
1ST FLOOR, 16 VEER NARIMAN ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B75567784 |
|
6 |
10136836 |
27/03/2010 * |
6,450,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A81837858 |
|
7 |
10077688 |
24/05/2011 * |
2,500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA |
B14382865 |
FIXED ASSET
Tangible Assets
- Computer Equipment
- Office Equipment
- Plant and Machinery
- Broadcast Centre Equipments
- Customer Premises Equipment
- Furniture and Fixtures
- Vehicles
- Leasehold Improvements
Intangible Assets
- Computer Software
- Licenses and Franchise
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.59.26 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
– |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
49 |
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.