MIRA
INFORM REPORT
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Report Date : |
16.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ADITYA
BIRLA MANAGEMENT CORPORATION LIMITED |
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Registered Office : |
C-1,
Aditya Birla Centre, S. K. Ahire Marg, Worli, Mumbai – 400030, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.02.1999 |
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Com. Reg. No.: |
11-118379 |
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CIN No.: [Company
Identification No.] |
U73100MH1999PLC118379 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB08159E |
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PAN No.: [Permanent
Account No.] |
AAACB9318D |
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Legal Form : |
A
closely held public limited liability company. |
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Line of Business : |
To
provide common corporate facilities to members. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD
2000000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company and part of Aditya Birla Group. The
company is progressing well. Directors are reported as experienced and
respectable businessmen. Trade relations are reported as fair. Business is
active. Payments are usually correct and as per commitments. Fundamentals
are strong and healthy. The
company can be considered normal for business dealings at usual trade terms
and conditions. The
company can be regarded as a promising business partner in a medium to
long-run. |
LOCATIONS
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Registered Office : |
C-1,
Aditya Birla Centre, S. K. Ahire Marg, Worli, Mumbai – 400030, Maharashtra,
India |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr.
Saurabh Satish Misra |
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Designation : |
Director |
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Address : |
Sorrento
Flat No. 2, Ground Floor, North West Side, Mumbai – 400006, Maharashtra,
India |
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Name : |
Mr.
Vikram Rao |
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Designation : |
Director
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Address : |
395,
16th Main, II Block, ‘A’ Cross, Koramangala, Bangalore – 560034,
Karnataka, India |
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Date of Birth/Age : |
10.09.1950 |
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Date of Appointment : |
29.08.2006 |
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Other Directorship : |
Aditya
Birla Nuvo Limited L17199GJ1982PLC00107 Madura
Garments Exports Limited U85110KA1994PLC016661 |
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Name : |
Mr.
Bihari Lal Shah |
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Designation : |
Director
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Name : |
Mr.
Mahesh Chandra Bagrodia |
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Designation : |
Director
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Name : |
Mr.
Bishwanath Puranmalka |
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Designation : |
Director
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BUSINESS DETAILS
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Line of Business : |
To
provide common corporate facilities to members. |
GENERAL
INFORMATION
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Bankers : |
Not
Available |
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Banking Relations : |
-- |
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Auditors : |
Suresh
Surana and Associates Chartered
Accountants 5th
Floor, Khetan Bhawan, 198, JT Road, Churchgate, Mumbai – 400020, Maharashtra,
India |
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Group companies : |
Hindalco Industries Limited Aditya Birla Nuvo Limited UltraTech Cement Limited
PSI Data Systems TransWorks Essel Mining & Industries Limited Shree Digvijay Cement Limited Idea Cellular Limited Birla NGK Insulators Bihar Caustic and Chemicals Limited
Thailand Thai Rayon Indo Thai Synthetics Century Textiles Thai Acrylic Fibre Thai Carbon Black Aditya Birla Chemicals (Thailand) Limited Thai Peroxide Philippines Indo Phil Textile Mills Indo Phil Cotton Mills Indo Phil Acrylic Manufacturing Corporation Indonesia PT Indo Bharat Rayon PT Elegant Textile Industry PT Sunrise Bumi Textiles PT Indo Liberty Textiles PT Indo Raya Kimia Egypt Alexandria Carbon Black Company S.A.E Alexandria Fiber Company China Liaoning Birla Carbon Canada AV Cell Inc AV Nackawic Inc Australia Aditya Birla Minerals Limited Laos Birla Laos Pulp and Paper Plantation Company Limited |
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Birla
Sun Life Insurance Birla
Sun Life Asset Management Company Limited Birla
Sun Life Distribution Company Limited Tanfac
Industries Limited |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.000 |
0.000 |
0.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.000 |
0.000 |
0.000 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
561.936 |
545.721 |
536.489 |
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TOTAL BORROWING |
561.936 |
545.721 |
536.489 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
561.936 |
545.721 |
536.489 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
140.508 |
119.125 |
109.737 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
46.545 |
24.807 |
32.319 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
271.888
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188.093 |
82.636 |
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Cash & Bank Balances |
13.750
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6.666 |
9.308 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
302.643
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346.837 |
362.554 |
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Total Current Assets |
588.281
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541.596 |
454.498 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
119.361
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78.793 |
22.869 |
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Provisions |
94.037
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61.014 |
37.196 |
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Total Current Liabilities |
213.398
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139.807 |
60.065 |
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Net Current Assets |
374.883
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401.789 |
394.433 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
561.936 |
545.721 |
536.489 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
982.925 |
863.132 |
721.795 |
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Total
Expenditure |
982.925 |
863.132 |
721.795 |
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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--
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-- |
-- |
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Current
Ratio (Current
Asset/Current Liability) |
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2.76
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3.87 |
7.57 |
LOCAL AGENCY
FURTHER INFORMATION
The name
of the company had been changed from “Birla Management Corporation Limited”
Limited to the present name of the company is “Aditya Birla Management
Corporation Limited”.
Fixed Assets
Buildings
Furniture
and Fixture
Computers
Office
Equipments
Vehicles
Intangible
Assets – Computer Software
Contingent Liabilities
Contingent
Liabilities not provided for are disclosed by way of Notes
Contingent
Liability not provided for – Corporate guarantees given to Bank for due
performance of Terms and Conditions of Leave Licence agreement for residential
accommodation taken for company’s employees.
Rs.
20.000 Millions
The
Company was promoted by some companies of Aditya Birla Group. The object of
this company is to provided a common pool of facilities and resources to its
members, with a view to optimise the benefits of specialisation and minimise
the cost for each member. The member companies have participated in the common
pool of facilities and shared the expenses incurred by the company and member
companies.
Rs.
0.113 Millions
Operation
During
the year Company continued to provide common corporate facilities to Member
Companies.
The Corporate Cells of The Aditya Birla Management Corporation Limited (ABMCL) act as a focal point for providing a strategic overview, vision and setting defined targets for all the Group Companies. Their agenda is to play a dominant role in functions that are generic to the Group such as issues relating to the development of our people and 'the Aditya Birla brand' — enhancing the Group's image internally and externally.
Identifying new areas of investments where the Group can become a lead player, portfolio decisions, target setting, tracking the competitive environment, and other matters of strategic importance also fall within their purview. Simply put, the Corporate Office is a value-adding activist centre and within it, Corporate Functions are centres of excellence.
- Central Cell
- Corporate
Technology Strategy and Services Cell (CTSS)
- Corporate
Communications Cell
- Corporate
HR Cell
- Corporate
Information Technology Cell
- Corporate
Finance Cell
- Corporate
Legal Cell
- Corporate
Management Audit Cell
- Corporate
Safety, Health and Environment Cell
- Corporate
Strategy and Business Development Cell
- Management
Services Cell
- World Class
Manufacturing Cell
- Corporate
Affairs and Development Cell
- Corporate
Economics Cell
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
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.09 |
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UK
Pound |
1 |
Rs.86.59 |
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Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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58 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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