Quadrant Televentures Limited.
Regd. Office : Autocars Compound, Adalat Road, Aurangabad (Maharashtra)431005.
Statement of Unaudited Stand Alone Financial Results for the Quarter ended September 30, 2013
(Rs in Lacs)
    Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Sr. No Particulars Three months ended 30.09.13 Three months ended 30.06.13 Three months ended 30.09.12 Six months ended 30.09.2013 Six months ended 30.09.2012 Year ended 31.03.13
1 Income from operations            
  (a) Income from Operations/ Services 9,975.56 9209.63 8354.36 19185.19 16258.48 33583.66
  (b) Other Operating Income - - - - - -
               
  Total Income From Operations (net) 9,975.56 9,209.63 8,354.36 19,185.19 16258.48 33583.66
               
2 Expenses            
  (a) Employee benefits expenses 1,710.20 1,420.83 1,124.02 3131.03 2.247.22 4,833.23
  (b)Depreciation and amortization expenses 3,277.06 3,099.30 3,021.45 6,376.36 6,066.00 12,182.69
  (c)Network operation expenditure 3,791.72 2,574.30 2,525.78 6,366.02 5,054.55 8,009.28
  (d) Interconnect Usage Charges 6,550.69 2,589.90 2,498.77 9,140.59 4,693.24 9,357.00
  (e) Infrastructure sharing charges 1,369.42 1,305.97 1,263.85 2,675.39 2,491.25 4,525.41
  (f) Sales & Marketing Expenditure 1,044.71 574.10 628.66 1,618.81 1,223.78 2,293.66
  (g) Other Expenses 1,131.94 834.88 672.80 1,966.82 1,745.79 3,422.18
  Total expenses 18,875.74 12,399.28 11,735.33 31,275.02 23,521.83 44,623.45
               
3 Profit / (Loss) from operations before other income, finance costs and exceptional items (1-2) (8,900.18) (3,189.65) (3,380.97) (12,089.83) (7,263.35) (11,039.79)
4 Other income 63.41 108.48 53.01 171.89 117.73 277.81
5 Profit / (Loss) from ordinary activities before finance costs and exceptional items (3-4) (8,836.77) (3,081.17) (3,327.96) (11,917.94) (7,145.62) (10,761.98)
6 Finance costs 683.19 696.29 704.65 1,379.48 1,410.00 2,806.24
7 Profit / (Loss) from ordinary activities after finance costs but before exceptional items (5-6) (9,519.96) (3,777.46) (4,032.61) (13,297.42) (8,555.62) (13,568.22)
8 Exceptional items - - - - - -
9 Profit / (Loss) from ordinary activities before tax (7-8) (9,519.96) (3,777.46) (4,032.61) (13,297.42) (8,555.62) (13,568.22)
10 Tax expense - - - - - -
11 Net Profit / (Loss) from ordinary activities after tax (9-10) (9,519.96) (3,777.46) (4,032.61) (13,297.42) (8,555.62) (13,568.22)
12 Extraordinary items - - - - -
13 Net Profit / (Loss) for the period (9,519.96) (3,777.46) (4,032.61) (13,297.42) (8,555.62) (13,568.22)
14 Share of profit /(loss) of associates - - - - - -
15 Minority Interest - - - - - -
16 Net Profit / (Loss) after taxes, minority interest and share of of Profit / (Loss) of Associate (9,519.96) (3,777.46) (4,032.61) (13,297.42) (8,555.62) (13,568.22)
17 Paid up Equity Share Capital (Face Value - Rs. 10 each) 61,226.03 61,226.03 61,226.03 61,226.03 61,226.03 61,226.03
18 (a) Reserves excluding Revaluation Reserve 685.67 685.67 685.67 685.67 685.67 685.67
(b) Profit & Loss Account (Including accumulated losses) (181,151.61) (171,631.65) (162,841.59) (181,151.61) (162,841.59) (167,854.19)
19 (a) Basic and Diluted Earning Per Share before Extraordinary items (1.55) (0.62) (0.66) (2.17) (1.40) (2.22)
(b) Basic and Diluted Earning Per Share after Extraordinary items (1.55) (0.62) (0.66) (2.17) (1.40) (2.22)
Select information for the Quarter ended September 30,2013
    Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Sr. No Particulars Three months ended 30.09.13 Three months ended 30.06.13 Three months ended 30.09.12 Six months ended 30.09.2013 Six months ended 30.09.2012 Year ended 31.03.13
A Particulars of Shareholding
1 Public Shareholding
-No of Shares 285,555,268 285,555,268 285,555,268 285,555,268 285,555,268 285,555,268
- % of Shareholding 46.64% 46.64% 46.64% 46.64% 46.64% 46.64%
2 Promoters and Promoter Group Shareholding
(a) Pledged/Encumbered
Number of Shares 218,704,937 52,085,387 218,704,937 218,704,937 218,704,937 218,704,937
Percentage of Shares (as % of the total Shareholding of Promoter and Promoter group) 66.94% 15.94% 66.94% 66.94% 66.94% 66.94%
Percentage of shares (as a % of the total share capital of the Company) 35.72% 8.51% 35.72% 35.72% 35.72% 35.72%
(b) Non encumbered
Number of Shares 108,000,063 274,619,613 108,000,063 108,000,063 108,000,063 108,000,063
Percentage of Shares(as % of the total Shareholding of Promoter and Promoter group) 33.06% 84.06% 33.06% 33.06% 33.06% 33.06%
Percentage of shares (as a % of the total share capital of the Company) 17.64% 44.85% 17.64% 17.64% 17.64% 17.64%
Particulars Three months ended 30.09.13
B INVESTOR COMPLAINTS
Pending at the beginning of the quarter Nil
Received during the quarter Nil
Disposed of during the quarter Nil
Remaining unresolved at the end of the quarter Nil
Quadrant Televentures Limited.
Regd. Office : Autocars Compound, Adalat Road, Aurangabad (Maharashtra) – 431 005.
Statement of assets and liabilities as at September 30,2013
    Unaudited Audited
Sr. No Particulars Six months ended 30.09.2013 Six months ended 30.09.2012 Year ended 31.03.13
A EQUITY AND LIABILITIES
1 Shareholders' Funds
  (a)Share capital 83,710.57 83,710.57 83,710.57
(b) Reserves and surplus (180,465.95) (162,155.93) (167,168.53)
Sub-Total Shareholder,s funds (96,755.38) (78,445.36) (83,457.96)
2 Share application money pending allotment
3 Non-current liabilities
(a) Long-term borrowings 58,723.85 58,723.85 58,723.85
(b) Deferred tax liabilities (Net) - - -
(c) Other Long term liabilities 11,261.70 10,233.02 11,023.80
(d) Long-term provisions 432.81 343.31 407.51
Sub-Total Non-current liabilities 70,418.36 69,300.18 70,155.16
4 Current liabilities
(a) Short-term borrowings 603.09 1,598.99 1,587.07
(b) Trade payables 14,692.94 9,959.84 7,639.08
(c) Other current liabilities 76,193.72 70,165.33 73,441.81
(d) Short-term provisions 237.71 170.92 200.48
Sub-Total Current liabilities 91,727.46 81,895.08 82,868.44
TOTAL EQUITY AND LIABILITIES 65,390.44 72,749.90 69,565.64
B ASSETS
1 Non-current assets
(a) Fixed assets
(i) Tangible assets 38,014.98 42,373.51 40,963.58
(ii) Intangible assets 14,254.53 17,087.52 15,732.87
(iii) Capital work-in-progress 2,223.97 1,762.86 1,479.27
(b ) Non-current investments 1.00 1.00 1.00
(c) Long-term loans and advances 1,080.67 1,217.74 1,039.58
Sub-Total Non-current Assets 55,575.15 62,442.63 59,216.30
2 Current assets
(a) Current investments - - -
(b) Inventories 241.01 189.51 169.43
(c) Trade receivables 5,663.11 5,771.89 5,192.51
(d) Cash and cash equivalents 748.72 2,583.82 2,503.12
(e) Short-term loans and advances 3,136.75 1,750.47 2,460.88
(f) Other current assets 25.70 11.58 23.40
Sub-Total Non-current Assets 9,815.29 10,307.27 10,349.34
TOTAL ASSETS 65,390.44 72,749.90 69,565.64
         
NOTES:
1 (a) Extract of audit qualification of current Quarter and previous financial year 2012-13
The Company has accounted for the impact of revised corporate debt restructuring ('CDR') Scheme as approved by CDR Cell after complying with the most of the terms and conditions stipulated therein however compliance of some of them is still in process.
(b) Management comments on above qualifications :
The Company has already allotted Redeemable Secured Non Convertible Debenture (NCDs) and is confident of fulfilling the remaining conditions in due course of business.
In compliance with the stipulations of CDR Package dated August 13, 2009, the Company had obtained the approval of shareholders for reduction of capital in Extra Ordinary General Meeting held on July 18, 2012. Post reduction the existing equity share Capital of Rs.612,26,02,680/- would stand reduced to 10% i.e. Rs. 61,22,60,268 subject to the confirmation by the Hon’ble Bombay High Court. BSE Ltd. vide its letter dated Oct 23, 2013 has issued its Observation Letter and conveyed its No Objection for filing the petition in the Hon'ble High Court. The Company is now in the process of filing the Petition with the High Court for seeking its confirmation to the Capital Reduction as proposed in terms of the CDR Package. The impact of theabove said Scheme on the financials will be considered upon implementation of the same.
2 As on 31.03.2013, 66.94% of Promoters shareholding (218,704,937 Equity Shares) stood pledged in favour of IDBI Bank (Lead Bank). In terms of revised CDR Scheme and in terms of the Debenture Trust Deed dated 21.1.2013, (51%) of the Promoters stake (166,619,550 Equity Shares) was required to be pledged in favour of Debenture Trustees i.e. IDBI Trusteeship Services Limited (ITSL). As on 30.06.2013, 166,619,550 Equity Shares released by IDBI Bank were in the process of being pledged in favour>of ITSL which has been done on 10.07.2013 . Therefore,as on 30.09.2013, 66.94% of Promoters shareholding (218,704,937 Equity Shares) stand pledged.
3 During the Quarter the terms and conditions of certain agreement were revised / finalized, which are effective from April 1, 2013. Accordingly, the expenses include Rs. 2,400.29 lacs pertaining to the period April to June-2013
4 The primary reporting of the Company has been performed on the basis of business segments. The Company has only one business segment, which is provision of unified telephony services. Accordingly, the amounts appearing in these financial results relate to this primary business segment. Further, the Company provides services only in the State of Punjab (including Chandigarh and Panchkula) and, accordingly, no disclosures are required under secondary segment reporting.
5 Previous period/years figures have been re-classified/re-grouped/re-stated wherever necessary, to make them comparable with those of the current period.
6 Above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in their meeting held on November 14, 2013. The same have been reviewed by the Statutory Auditor of the Company.
By Order of the Board
For QUADRANT TELEVENTURES LIMITED.
   
Place : Mohali (Mr. Vinay Kumar Monga) Director
Date : November 14, 2013