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|
%20COMMUNICATIONS%20PRIVATE%20LIMITED%20-%20502491%2017-Apr-2018_files/image015.jpg){kind=small}
%20COMMUNICATIONS%20PRIVATE%20LIMITED%20-%20502491%2017-Apr-2018_files/image016.jpg)
%20COMMUNICATIONS%20PRIVATE%20LIMITED%20-%20502491%2017-Apr-2018_files/image017.gif)
MIRA INFORM REPORT
|
Report No. : |
502491 |
|
Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TELENOR (INDIA) COMMUNICATIONS PRIVATE LIMITED (w.e.f. 21.08.2015) |
|
|
|
|
Formerly Known
As : |
TELEWINGS COMMUNICATIONS SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DBS Business Centre, First Floor, World Trade Tower, Barakhamba Lane,
Connaught Place, New Delhi-110001 |
|
Tel. No.: |
91-11-49095688 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
24.02.2012 |
|
|
|
|
Com. Reg. No.: |
55-231991 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 19231.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64200DL2012PTC231991 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECT1511C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing telecommunication,
broadcasting and Information supply services. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Telenor South Asia Investment Pte Ltd”, Singapore. The company was incorporated in the year 2012. It is engaged in providing Telecommunication, Broadcasting and Information supply services. As per the available financial of 2016, the revenue of the company has increased by 6.56% but has incurred operational loss. The moderate financial profile of the company is reflected by negative networth base and unfavourable gap between trade payables and trade receivables along with negligible debt level. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings on fully and secured trade terms and conditions. Note1: The correct name of the company is “Telenor (India) Communications Private Limited”. Note2: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. Note3: As per the current press release, CCI has approved the proposed merger of Telenor (India) Communications Pvt Ltd with Bharti Airtel,” the Sunil Mittal-led telco said in filings to the Bombay Stock Exchange and National Stock Exchange on Tuesday. Last week, Bharti Airtel had received approvals from the Securities & Exchange Boad of India (Sebi), BSE and NSE for its proposed merger with Telenor India. Airtel and Telenor India have also filed a joint company application before the Delhi bench of the National Company Law Tribunal for approval of the proposed scheme of merger. Note4: Telecom tribunal TDSAT has asked DoT to grant approval to Airtel-Telenor merger without any bank guarantee, according to a Bharti spokesperson. The Department of Telecom on April 3 had asked Bharti Airtel to submit bank guarantee of around INR 17000 million before approving its merger with Telenor India. The guarantee included INR 14990 million for one-time spectrum charge for the radiowaves allocated to Airtel without auction, and over INR 2000 million for spectrum payment which Telenor has to make. "Regarding the demand for bank guarantee, on Airtel's petition, TDSAT has yesterday directed the DoT to take the merger on record without the need to furnish a bank guarantee. We hope to get the final approval from the DoT soon," Bharti spokesperson said. DoT has also sought undertaking from Airtel that the company will be liable to any pending dues with respect to merger of the two companies and all demands which may be raised by any wing of the department for Telenor India. "A letter of compliance has already been submitted to the DoT on all the mentioned points," Bharti spokesperson said. The merger will bolster Airtel's spectrum footprint in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band. Telenor India runs operations in seven circles-- Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. DoT has asked Airtel to reduce its market share based on adjusted gross revenue (money earned from telecom services) in Bihar service area to the limit of 50 per cent, within one year from the date merger of two companies is approved. The National Company Law Tribunal (NCLT) had approved the proposed merger of Telenor India with Bharti Airtel on March 8. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 17.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.:91-124-3329000)
LOCATIONS
|
Registered Office : |
DBS Business Centre, First Floor, World Trade Tower, Barakhamba Lane,
Connaught Place, New Delhi-110001, India |
|
Tel. No.: |
91-11-49095688 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
The Masterpeice, Plot No.10,
Golf Course Road, Sector 54, DLF Phase 5, Gurugram-122002, Haryana,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sharad Mehrotra |
|
Designation : |
Wholetime Director |
|
Address : |
B-4/140, 2nd Floor, Safdarjung Enclave, New Delhi-110029, India |
|
Date of Birth/Age : |
07.08.1967 |
|
Qualification : |
BE in Electronics from Pune University & MBA in Marketing management |
|
Date of Appointment : |
21.01.2016 |
|
PAN No.: |
AAMPM0898G |
|
DIN No.: |
07344741 |
|
|
|
|
Name : |
Mr. Pankaj Kumar Sharma |
|
Designation : |
Wholetime Director |
|
Address : |
House No. 267, Espace Nirvana Country, Sector 50, Gurugram-122018, Haryana, India |
|
Date of Appointment : |
14.12.2017 |
|
DIN No.: |
07912136 |
|
|
|
|
Name : |
Mr. Arnstein Sletmoe |
|
Designation : |
Director |
|
Address : |
Eilert Sundts Gate 57 0355 Oslo NA NO |
|
Date of Birth/Age : |
27.04.1965 |
|
Qualification : |
BSc Business Administration from Norwegian School of Management/BI. |
|
Date of Appointment : |
21.01.2016 |
|
DIN No.: |
07339205 |
KEY EXECUTIVES
|
Name : |
Mr. Sharad Mehrotra |
|
Designation : |
Chief Executive Officer (KMP) |
|
Address : |
B-4/140, 2nd Floor, Safdarjung Enclave, New Delhi-110029, India |
|
Date of Appointment : |
01.11.2015 |
|
PAN No.: |
AAMPM0898G |
|
|
|
|
Name : |
Mr. Suresh Bagrodia |
|
Designation : |
Company Finance Officer (KMP) |
|
Address : |
Flat No.601/2, Green Acres, Building No.1/B, Lokhandwala Complex, Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Appointment : |
17.08.2015 |
|
PAN No.: |
ADRPB3174E |
|
|
|
|
Name : |
Mr. Deepak Goyal |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 701, Empire Tower, Omaxe Heights, Sector 86, Faridabad-121002, Haryana, India |
|
Date of Appointment : |
18.06.2016 |
|
PAN No.: |
AJMPG4485G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Telenor South Asia Investment Pte Limited, Singapore |
|
1923076922 |
|
Telenor South East Asia Investment Pte Limited, Singapore |
|
1 |
|
Total |
|
1923076923 |
AS ON 28.07.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Bodies corporate |
100.00 |
|
Total |
100.00 |
%20COMMUNICATIONS%20PRIVATE%20LIMITED%20-%20502491%2017-Apr-2018_files/image018.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing telecommunication,
broadcasting and Information supply services. [Registered Activity] |
||||
|
|
|
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|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
“Telenor” |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
Golf View Corporate, Tower-B, Sector-42, Sector Road, Gurugram-122002, Haryana, India |
|
PAN No.: |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : (As on 2017) |
Telenor South Asia Investment Pte Limited, Singapore |
|
|
|
|
Ultimate Holding
Company : |
Telenor ASA, Norway |
|
|
|
|
Fellow Subsidiary
Companies : |
CIN No.: U45400DL2007PTC166910
CIN No.: U74999DL2009PTC189153
|
CAPITAL STRUCTURE
AS ON 28.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2003000000 |
Equity Shares |
INR 10/- each |
INR 20030.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1923076923 |
Equity Shares |
INR 10/- each |
INR 19230.769 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
19231.000 |
19231.000 |
19231.000 |
|
(b) Reserves and Surplus |
(32555.000) |
(9548.000) |
7638.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(13324.000) |
9683.000 |
26869.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38937.000 |
33125.000 |
25063.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
2046.000 |
2025.000 |
1508.000 |
|
(d) long-term
provisions |
2838.000 |
2745.000 |
2142.000 |
|
Total Non-current
Liabilities (3) |
43821.000 |
37895.000 |
28713.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
16005.000 |
11500.000 |
3000.000 |
|
(b) Trade
payables |
13732.000 |
10991.000 |
12158.000 |
|
(c) Other
current liabilities |
7651.000 |
5617.000 |
4505.000 |
|
(d) Short-term
provisions |
475.000 |
66.000 |
52.000 |
|
Total Current
Liabilities (4) |
37863.000 |
28174.000 |
19715.000 |
|
|
|
|
|
|
TOTAL |
68360.000 |
75752.000 |
75297.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11401.000 |
17135.000 |
17756.000 |
|
(ii)
Intangible Assets |
43418.000 |
46059.000 |
41470.000 |
|
(iii) Tangible assets
capital work-in-progress |
2641.000 |
1303.000 |
1900.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
2379.000 |
2099.000 |
6682.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
59839.000 |
66596.000 |
67808.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
11.000 |
7.000 |
9.000 |
|
(c) Trade
receivables |
367.000 |
266.000 |
474.000 |
|
(d) Cash and
bank balances |
118.000 |
187.000 |
496.000 |
|
(e)
Short-term loans and advances |
7371.000 |
8112.000 |
5906.000 |
|
(f) Other
current assets |
654.000 |
584.000 |
604.000 |
|
Total Current
Assets |
8521.000 |
9156.000 |
7489.000 |
|
|
|
|
|
|
TOTAL |
68360.000 |
75752.000 |
75297.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
45233.000 |
42446.000 |
12634.000 |
|
|
Other Income |
180.000 |
446.000 |
371.000 |
|
|
TOTAL |
45413.000 |
42892.000 |
13005.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
3217.000 |
2822.000 |
1473.000 |
|
|
Other expenses |
43559.000 |
44215.000 |
13375.000 |
|
|
TOTAL |
46776.000 |
47037.000 |
14848.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(1363.000) |
(4145.000) |
(1843.000) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5508.000 |
3810.000 |
1929.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(6871.000) |
(7955.000) |
(3772.000) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
16136.000 |
9231.000 |
2789.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(23007.000) |
(17186.000) |
(6561.000) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(23007.000) |
(17186.000) |
(6561.000) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
41.000 |
55.000 |
83.000 |
|
|
TOTAL EARNINGS |
41.000 |
55.000 |
83.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
8625.000 |
3171.000 |
543.000 |
|
|
TOTAL IMPORTS |
8625.000 |
3171.000 |
543.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(11.96) |
(8.94) |
(5.18) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
1277.000 |
791.000 |
0.000 |
|
Net cash flows from (used in) operations |
2038.000 |
(4024.000) |
(2106.000) |
|
Net cash flows from (used in) operating activities |
2038.000 |
(4024.000) |
(2128.000) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
2.96 |
2.29 |
13.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sunday
Debtors) |
123.25 |
159.57 |
26.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(123.91) |
(592.14) |
(204.78) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.02) |
(0.06) |
(0.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.14 |
0.82 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(4.22) |
4.69 |
1.04 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(2.84) |
2.91 |
0.73 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(4.31) |
6.66 |
2.27 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(0.25) |
(1.09) |
(0.96) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
(50.86) |
(40.49) |
(51.93) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(33.66) |
(22.69) |
(8.71) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
172.67 |
(177.49) |
(24.42) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.23 |
0.32 |
0.38 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.22 |
0.32 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.19) |
0.13 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.92 |
2.36 |
1.46 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.23 |
0.32 |
0.38 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
19231.000 |
19231.000 |
19231.000 |
|
Reserves & Surplus |
7638.000 |
(9548.000) |
(32555.000) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
26869.000 |
9683.000 |
(13324.000) |
|
|
|
|
|
|
Long-term borrowings |
25063.000 |
33125.000 |
38937.000 |
|
Short term borrowings |
3000.000 |
11500.000 |
16005.000 |
|
Current maturities of
long-term debts |
0.000 |
791.000 |
1277.000 |
|
Total
borrowings |
28063.000 |
45416.000 |
56219.000 |
|
Debt/Equity
ratio |
1.044 |
4.690 |
(4.219) |
%20COMMUNICATIONS%20PRIVATE%20LIMITED%20-%20502491%2017-Apr-2018_files/image019.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
12634.000 |
42446.000 |
45233.000 |
|
|
|
235.966 |
6.566 |
%20COMMUNICATIONS%20PRIVATE%20LIMITED%20-%20502491%2017-Apr-2018_files/image020.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
12634.000 |
42446.000 |
45233.000 |
|
Profit/ (Loss) |
(6561.000) |
(17186.000) |
(23007.000) |
|
|
(51.93%) |
(40.49%) |
(50.86%) |
%20COMMUNICATIONS%20PRIVATE%20LIMITED%20-%20502491%2017-Apr-2018_files/image021.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OVERVIEW
During the year, the Company has changed its name from Telewings Communications Services Private Limited to Telenor (India) Communications Private Limited and also changed its brand name from Uninor to Telenor.
The Company is providing telecom services in six telecom circles namely Andhra Pradesh, Bihar, Gujarat, Maharashtra, Uttar Pradesh- East and Uttar Pradesh- West (Six Telecom Circles) and is in the process of rolling out its network in the telecom circle of Assam.
The subscriber base and market share of the Company grew by 15% and 0.7% respectively during the period from April 01, 2015 to March 31, 2016. During the period the Company has done exceptionally well in basic Internet services to address the evolving needs of its customers.
CORPORATE INFORMATION
The Company was incorporated on February 24, 2012 under the erstwhile Companies Act, 1956 as a Private Company with limited liability, with the name of Telewings Communications Services Private Limited. The name was subsequently changed to Telenor (India) Communications Private Limited (‘the Company’) on August 21, 2015.
On October 26, 2012 a Share Subscription and Shareholder’s Agreement (‘SSHA’) was signed among Telenor South Asia Investment Pte Ltd. (‘TSAIP’), Lakshdeep Investments & Finance Private Limited (‘Lakshdeep’) and the Company.
The Foreign Investment Promotion Board (‘FIPB’) vide its letter dated September 24, 2014 granted its approval for foreign investment by Telenor Mobile Communication AS, Norway through TSAIP for increasing foreign investment from 74% to 100% in the Company. Pursuant to the FIPB approval, TSAIP on October 16, 2014 acquired the entire 26% stake held by Lakshdeep in the Company and the Company became 100% subsidiary of Telenor group.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
Long-term
Borrowings |
|
|
|
Term loans from banks |
6000.000 |
0.000 |
|
Loans and advances from related parties |
19258.000 |
18170.000 |
|
Other loans and advances |
13679.000 |
14955.000 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Term loans from banks |
16005.000 |
11500.000 |
|
Total |
54942.000 |
44625.000 |
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
149.000 |
58.000 |
|
Guarantees |
1966.000 |
8710.000 |
|
Total |
2115.000 |
8768.000 |
FIXED ASSETS:
- Plant and equipment
- Furniture and Fixture
- Office equipment
- Computer equipments
- Leasehold improvements
- Vehicles
PRESS RELEASE /
WEBSITE DETAILS
BHARTI AIRTEL
RECEIVES CCI NOD FOR MERGER WITH TELENOR INDIA
Date: Jun 07, 2017
KOLKATA: Bharti Airtel
NSE -0.33 %, the country’s No. 1 phone company, received statutory approval on
Tuesday from the Competition Commission of India (CCI) for its proposed merger
with the Indian unit of Norway’s Telenor.
“CCI has approved the proposed merger of Telenor (India) Communications Private
Limited with Bharti Airtel,” the Sunil Mittal-led telco said in filings to the
Bombay Stock Exchange and National Stock Exchange on Tuesday.
Last week, Bharti Airtel had received approvals from the Securities and Exchange Board of India (Sebi), BSE and NSE for its proposed merger with Telenor India. Airtel and Telenor India have also filed a joint company application before the Delhi bench of the National Company Law Tribunal for approval of the proposed scheme of merger.
Airtel had entered an agreement with Telenor South Asia Investments Pte back in
February to buy Telenor India’s operations in Andhra Pradesh, Bihar,
Maharashtra, Gujarat, UP (East), UP (West) and Assam. These seven circles
contribute about 35% to Airtel’s total revenue. Airtel will also take on some
of the Nordic telco’s local liabilities.
The acquisition is slated to bolster Airtel’s 4G spectrum holdings and revenue market share, strengthening its hand in the battle against Reliance Jio Infocomm. Airtel will pocket 43.4 units of 4G spectrum in 1800 MHz band once the Telenor deal is concluded.
Airtel will also take over Telenor India’s outstanding spectrum payments of
some INR 16500.000 million and other operational contracts, including tower
leases with Bharti Infratel and Indus Towers, besides employees and 44 million
customers.
Airtel had said Telenor circles represent a high population concentration and thus offer a high growth potential.
Telenor had a rough ride ever since it rolled out operations in late 2009 in
partnership with real estate company Unitech under the Uninor brand. Although
it won licences to offer nationwide services, all of them were cancelled in the
judgment on the 2G scam five years ago.
The company fell out with its partner, which soon had troubles of its own, but
decided to persevere in the fiercely competitive India market, taking sole
ownership of its local unit in 2014, after rules were changed in 2013 to allow
this.
Having bought back spectrum in separate auctions in the seven circles, the
rechristened Telenor India played the price card, offering services at almost
half that of its bigger rivals to gain subscribers.
But with Jio, it struggled to compete as all operators
slashed prices and it started losing subscribers, market share and revenue.
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 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
|
INR |
|
US Dollar |
1 |
INR 65.45 |
|
|
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.