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|
|
MIRA INFORM REPORT
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Report No. : |
504131 |
|
Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TATA COMMUNICATIONS PAYMENT SOLUTIONS LIMITED (w.e.f. 03.01.2013) |
|
|
|
|
Formerly Known
As : |
TATA COMMUNICATIONS BANKING INFRASOLUTIONS LIMITED (w.e.f. 09.06.2009) BANKING ATM INFRASOLUTIONS LIMITED |
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|
|
|
Registered
Office : |
C-21/ C-36, ‘G’ Block, Bandra Kurla Complex, Mumbai – 400098,
Maharashtra |
|
Tel. No.: |
91-22-22-66592000/ 66591966 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
28.02.2008 |
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Com. Reg. No.: |
11-179551 |
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Capital
Investment / Paid-up Capital : |
INR 7544.574 Million |
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|
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CIN No.: [Company Identification
No.] |
U72900MH2008PLC179551 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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TIN No.: |
27795216319 |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCB3924G |
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GSTN : [Goods & Service Tax
Registration No.] |
27AADCB3924G1ZV |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged into end-to-end ATM deployment, end-to-end POS enablement, hosted core banking, end to end financial inclusion and card issuance and related managed services, switching services to banking sector. [Registered Activity] |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Tata Communication Limited” and was incorporated in the year 2008. It is a banking and financial services organization offering a one stop 'plug-and-play' infrastructure management solution. The company also provides payment solutions such as managed ATM services, managed hosted core banking solutions, point of sale (POS) solutions, card issuance & management and financial inclusion solutions. The company has strong financial base and healthy capital structure along with low debt balance sheet. Rating takes into consideration strong managerial and financial support received to the company from its holding entity. However, rating strength is partially offset due to continuously losses incurred by the company which has reported negative reserves position. Trade relations are reported as fair. Business is active. Payments are slow but correct. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating = AA |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
05.02.2018 |
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Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
05.02.2018 |
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
31-03-2016.
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 18.04.2018
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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-22-66592000/ 66591966]
LOCATIONS
|
Registered Office : |
C-21/ C-36, ‘G’ Block, Bandra Kurla Complex, Mumbai – 400098,
Maharashtra, India |
|
Tel. No.: |
91-22-66592000/ 66591966 |
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Fax No.: |
91-22-67251962 |
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E-Mail : |
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Website : |
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Branch Office 1: |
VSB 1/18, CIT Road, Scheme VII-M, Ultadanga, Kolkata-700054, West
Bengal, India |
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Tel No.: |
91-33-66116600 |
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Branch Office 2: |
Next Gen Tower, Outer Ring Road, GK-1, New Delhi-110048, India |
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Tel No.: |
91-11-66505058 |
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Branch Office 3: |
Pune-Alandi Road, Dighi, Pune-411015, Maharashtra, India |
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Tel No.: |
91-20-67347774 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Aadesh Goyal |
|
Designation : |
Director |
|
Address : |
C-1/45 Palam Vihar, Gurugram – 122017, Haryana, India |
|
|
11.05.1963 |
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|
Professional |
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Date of Appointment : |
03.03.2015 |
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DIN No.: |
00044337 |
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|
Name : |
Mr. Srinivasa Rao Addepalli |
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Designation : |
Director |
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Address : |
1002, Dosti Daisy, Dosti Acres Near Antop Hill, Wadala (East), Mumbai
– 400030, Maharashtra, India |
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Date of Birth/Age : |
23.03.1975 |
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Qualification : |
Professional |
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Date of Appointment : |
28.02.2008 |
|
DIN No.: |
00362918 |
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|
|
|
Name : |
Mr. Uday Babubhai Desai |
|
Designation : |
Director |
|
Address : |
B - 104, Lakeside, IIT, Mumbai-400076, Maharashtra, India |
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|
14.02.1951 |
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Qualification : |
Professional |
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Date of Appointment : |
16.03.2017 |
|
DIN No.: |
01735464 |
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|
|
|
Name : |
Mr. Ramanathan Kumar |
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Designation : |
Director |
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Address : |
No.102, Kesava Dugar Apartments, 1st Floor, Keshava Perumalpuram, Chennai – 600028, Tamilnadu, India |
|
|
18.10.1961 |
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Qualification : |
Professional |
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Date of Appointment : |
28.03.2015 |
|
DIN No.: |
06364297 |
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|
|
|
Name : |
Mr. Tri Luu Pham |
|
Designation : |
Director |
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Address : |
8, Cuscaden Walk, 26-2, 249692, Singapore |
|
Date of Birth/Age : |
04.08.1965 |
|
Qualification : |
Professional |
|
Date of Appointment : |
18.11.2013 |
|
DIN No.: |
06746192 |
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|
|
|
Name : |
Mr. Sumeet Mahendra Walia |
|
Designation : |
Director |
|
Address : |
7, Flamingo, ST Alexius Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
08.04.1971 |
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Qualification : |
Professional |
|
Date of Appointment : |
18.11.2013 |
|
DIN No.: |
06758031 |
|
|
|
|
Name : |
Mr. Hiroo Mirchandani |
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Designation : |
Director |
|
Address : |
Flat-D1601,Ireo Uptown, Sector 66, Golf Course Extension Road, Gurgaon 122101, Haryana, India |
|
|
17.06.1961 |
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Qualification : |
Professional |
|
Date of Appointment : |
28.03.2015 |
|
DIN No.: |
06992518 |
KEY EXECUTIVES
|
Name : |
Mr. Rishabh Nath Aditya |
|
Designation : |
Secretary |
|
Address : |
A-604, Dheeraj Gaurav, Heights – II, Off. New Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1991 |
|
Date of Appointment : |
24.07.2012 |
|
PAN No.: |
AACPA4865F |
|
|
|
|
Name : |
Mr. Sanjay Agarwal |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
39/1003 NRI Complex Sector 54/56/58 Nerul Navi Mumbai – 400706, Maharashtra, India |
|
|
01.12.1991 |
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Qualification : |
Professional |
|
Date of Appointment : |
08.05.2015 |
|
PAN No.: |
ACEPA5351J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Tata Communications Limited, India |
|
754456815 |
|
Tata Communications Jointly Held with Rajesh Prabhakaran |
|
100 |
|
Tata Communications Jointly Held with Ridhi Sood |
|
100 |
|
Tata Communications Jointly Held with Aroon Dasappa |
|
100 |
|
Tata Communications Jointly Held with Sudipto Das |
|
100 |
|
Tata Communications Jointly Held with Rishabh Aditya |
|
100 |
|
Tata Communications Jointly Held with Ashok Someshwar |
|
100 |
|
|
|
|
|
Total |
|
754457415 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Tata Communications Limited, India |
|
355000000 |
|
|
|
|
|
Total |
|
355000000 |
AS ON: 11.07.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into end-to-end ATM deployment, end-to-end POS enablement, hosted core banking, end to end financial inclusion and card issuance and related managed services, switching services to banking sector. [Registered Activity] |
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Products : |
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Brand Names : |
“Indicash” |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 27-32 Floors, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400013, Maharashtra, India |
|
PAN No.: |
AAAFS7376P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Holding company: |
Tata Communications Limited [L64200MH1986PLC039266] |
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|
Associate of
Holding Company : |
STT Global Data Centres India Private Limited [U74999MH2007PTC176737] |
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Fellow
Subsidiaries*: |
· Tata Communications Data Centers Private Limited (upto 18 October 2016) · Tata Communication (Ireland) Limited · Tata Communication (UK) Limited |
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|
|
Investing Parties (Promoters) of Parent
Company and its affiliates* : |
· TRIL Infopark Limited [U45200TN2008PLC066931] · Tata Consultancy Services Limited · Tata Business Support Services Limited · Tata Teleservices Limited |
Note: *Where transactions have taken place / there are balances.
CAPITAL STRUCTURE
AFTER: 11.07.2017
Authorised Capital : INR 21000.000 Million
Issued, Subscribed & Paid-up Capital : INR 9870.918
Million
AS ON: 11.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000000 |
Equity Shares |
INR 10/- each |
INR 8000.000 Million |
|
1100000000 |
Preference Shares |
INR 10/- each |
INR 11000.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 19000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
754457415 |
Equity Shares |
INR 10/- each |
INR 7544.574
Million |
|
355000000 |
Preference Shares |
INR 10/- each |
INR 3550.000
Million |
|
|
|
|
|
|
|
Total |
|
INR 11094.574
Million |
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000000 |
Equity Shares |
INR 10/- each |
INR 8000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
754457415 |
Equity Shares |
INR 10/- each |
INR 7544.574
Million |
|
|
|
|
|
Notes:
a. During the financial year 2015-16, the Authorised equity share capital of the Company increased by 300,000,000 shares as approved by the shareholders of the Company at the Extra-ordinary General Meeting held on 11 March 2016
b. During the financial year 2016-17, the Authorised equity share capital of the Company increased by 100,000,000 lakhs shares as approved by the shareholders of the Company at the Extra-Ordinary General Meeting held on 20 December 2016
c. During the financial year 2015-16, 435,000,000 12% Convertible Preference Shares (CPS) have been converted into 290,000,000 equity shares of Rs. 10 each at carrying value. Consequently, on the date of conversion INR 17,122.40 pertaining to converted portion of CPS transferred to security premium reserve.
d. During the financial year 2016-17, the terms of issue conversion of 12% Convertible Preference Shares (CPS) of INR 10/- each have been modified by the Equity Shareholders at their Extra-ordinary General Meeting held on 2 August 2016 and special resolution passed by the Preference Shareholders at their General Meeting held on 2 August 2016. As per new terms of conversion 495,000,000 number of 12% Convertible Preference Shares (CPS) will be converted into 324,377,500 number of shares. Conversion price is fixed at INR 15.26 per share for face of INR 10 per equity shares.
e. During
the financial year 2016-17, the Company has allotted 91,743,131 equity shares
at a premium of INR 5.26 each against 140,000,000 12% Convertible Preference Shares (CPS) of INR
10/- each, vide resolution passed by the Board of Directors in the meeting held
on 22 December 2016.
f. Number
of shares held by each shareholder holding more than 5% of the issued share capital:
|
Tata Communications Limited |
As at 31
March 2017 |
|
|
(Holding Company) |
No of shares |
Percentage
of Holding |
|
Equity shares |
754457415 |
100% |
g. Terms/Rights attached to shares:
The Company has only one class of equity shares having a
face value of INR 10 per share. Equity shareholders are entitled to one vote
per share at any General Meeting of Shareholders. In the event of liquidation
of the Company, the holders of equity shares will be entitled to receive
remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7544.574 |
6627.143 |
12227.143 |
|
(b) Reserves & Surplus |
(1666.830) |
(911.037) |
(3769.552) |
|
(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) |
5877.744 |
5716.106 |
8457.591 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
1810.528 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
11.396 |
3.526 |
0.000 |
|
(d)
long-term provisions |
43.929 |
40.190 |
83.155 |
|
Total
Non-current Liabilities (3) |
55.325 |
1854.244 |
83.155 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3069.879 |
3663.138 |
730.367 |
|
(b)
Trade payables |
1659.889 |
1784.869 |
1478.029 |
|
(c)
Other current liabilities |
241.994 |
366.186 |
565.745 |
|
(d)
Short-term provisions |
2.507 |
2.650 |
3.575 |
|
Total
Current Liabilities (4) |
4974.269 |
5816.843 |
2777.716 |
|
|
|
|
|
|
TOTAL |
10907.338 |
13387.193 |
11318.462 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4788.955 |
5594.641 |
6082.408 |
|
(ii)
Intangible Assets |
20.435 |
24.073 |
16.717 |
|
(iii)
Capital work-in-progress |
69.245 |
39.478 |
165.545 |
|
(iv) Intangible assets under development |
0.000 |
3.899 |
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 Loan
and Advances |
0.000 |
0.000 |
559.057 |
|
(e)
Other Non-current assets |
458.838 |
643.076 |
0.000 |
|
Total
Non-Current Assets |
5337.473 |
6305.167 |
6823.727 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
995.461 |
736.512 |
812.196 |
|
(d)
Cash and cash equivalents |
4254.577 |
6067.532 |
3229.822 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
452.717 |
|
(f)
Other current assets |
319.827 |
277.982 |
0.000 |
|
Total
Current Assets |
5569.865 |
7082.026 |
4494.735 |
|
|
|
|
|
|
TOTAL |
10907.338 |
13387.193 |
11318.462 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
5281.048 |
5664.613 |
5156.672 |
|
|
|
Other Income |
36.761 |
65.870 |
22.503 |
|
|
|
TOTAL |
5317.809 |
5730.483 |
5179.175 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
152.334 |
164.736 |
0.000 |
|
|
|
Employees benefits expense |
342.999 |
366.021 |
355.575 |
|
|
|
Other expenses |
4732.219 |
5148.941 |
5382.416 |
|
|
|
Exceptional Items |
0.000 |
18.375 |
0.000 |
|
|
|
TOTAL |
5227.552 |
5698.073 |
5737.991 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
90.257 |
32.410 |
(558.816) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
253.460 |
480.798 |
133.782 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(163.203) |
(448.388) |
(692.598) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1554.212 |
1568.206 |
1023.765 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1717.415) |
(2016.594) |
(1716.363) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1717.415) |
(2016.594) |
(1716.363) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(2.50) |
(5.22) |
(5.77) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(357.501) |
397.094 |
(147.828) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(180.846) |
320.731 |
(243.565) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
68.80 |
47.46 |
57.49 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.31 |
7.69 |
6.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
3977.18 |
3954.67 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.000 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.02 |
0.01 |
(0.09) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.46 |
0.57 |
0.25 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.52 |
0.96 |
0.09 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.85 |
1.02 |
0.33 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.83 |
0.99 |
0.74 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.36 |
0.07 |
(4.18) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(32.52) |
(35.60) |
(33.28) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(15.75) |
(15.06) |
(15.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(29.22) |
(35.28) |
(20.29) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.12 |
1.22 |
1.62 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.12 |
1.22 |
1.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.54 |
0.43 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.41 |
0.83 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.12 |
1.22 |
1.62 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
12227.143 |
6627.143 |
7544.574 |
|
Reserves & Surplus |
(3769.552) |
(911.037) |
(1666.830) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
8457.591 |
5716.106 |
5877.744 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
1810.528 |
0.000 |
|
Short term borrowings |
730.367 |
3663.138 |
3069.879 |
|
Total
borrowings |
730.367 |
5473.666 |
3069.879 |
|
Debt/Equity
ratio |
0.086 |
0.958 |
0.522 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
5156.672 |
5664.613 |
5281.048 |
|
|
|
9.850 |
(6.771) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
5156.672 |
5664.613 |
5281.048 |
|
Profit/ (Loss) |
(1716.363) |
(2016.594) |
(1717.415) |
|
|
(33.28%) |
(35.60%) |
(32.52%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Redeemable preference shares |
0.000 |
1593.768 |
|
Other loans and advances, others |
0.000 |
216.760 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
390.000 |
0.000 |
|
Loans repayable on demand from banks |
2679.879 |
3663.138 |
|
|
|
|
|
Total |
3069.879 |
5473.666 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Entry Tax / Value Added Tax / Sales Tax/Income Tax |
15.748 |
8.340 |
|
Other Claims |
0.000 |
27.100 |
CORPORATE INFORMATION
Subject
was incorporated in India on 28 February 2008 to engage in the business of
providing infrastructure managed services and incidental activities to banking
sector and has obtained authorization from Reserve Bank of India to set up, own
and operate White Label ATMs under the Payment and Settlement Systems Act,
2007. The Company operates under the brand name ‘Indicash’. The Company is
responsible for end-to-end ATM deployment, end-to-end POS enablement, hosted
core banking, end to end financial inclusion and card issuance and related
managed services and switching services and in turn is paid by the card issuer
bank on a pay per use model. The Company is a wholly owned subsidiary of Tata
Communications Limited (Parent Company).
The Company is domiciled in India and its registered office is at Plot No. C21 & C36 ‘G’ Block Bandra Kurla Complex Mumbai - 400098
STRATEGIC OVERVIEW
AND OPERATIONS
The
Company was incorporated with an objective to be in the business of providing infrastructure
services to the Banking & Financial Services Industry. The services and
solutions offered by the Company include those relating to automated teller
machines (ATM), electronic transaction processing solutions (ETPS), core
banking solutions (CBS) and other equipment which could be used for banking
operations. The Company has commenced commercial operations with effect from
1st April, 2009. The Company has put in place a highly experienced team of
professionals from the banking and financial services industry for managing the
operations of the company.
FIXED ASSETS:
· Computer software
· Plant and Machinery
· Leasehold Improvements
· Furniture
· Office equipment
· Computers & Servers
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 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 65.61 |
|
UK Pound |
1 |
INR 94.21 |
|
Euro |
1 |
INR 81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
RUP |
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.