MIRA
INFORM REPORT
|
Report Date : |
05.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED |
|
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Registered Office : |
The IL and FS Financial Centre, Plot C22, G Block, Bandra Kurla Complex,
Bandra East, Mumbai-400051, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
03.09.1987 |
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Com. Reg. No.: |
11-44571 |
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CIN No.: [Company
Identification No.] |
U65990MH1987PLC044571 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI00330B |
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|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
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|
Line of Business : |
Subject is an
Infrastructure development and finance companies |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 100000000 |
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|
Status : |
Good |
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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 having fine track.
Financial position of the company appears to be sound. Fundamentals are
strong and healthy. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for any normal 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Martin |
|
Designation : |
Accounts Departments |
|
Date : |
04.01.2011 |
LOCATIONS
|
Registered Office : |
The IL and FS Financial Centre, Plot C22, G Block, Bandra Kurla
Complex, Bandra East, Mumbai-400051, |
|
Tel. No.: |
91-22-26533333/3232 |
|
Fax No.: |
91-22-26533038/ 26533069 |
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E-Mail : |
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|
Website : |
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Branches : |
|
DIRECTORS
As on 25.09.2010
|
Name : |
Mr.
|
|
Designation : |
Chairman – IL and FS and Managing Director |
|
Address : |
1201/ 1202, Vinayak Angan, |
|
Date of Birth/Age : |
04.10.1952 |
|
Date of Appointment : |
06.07.1989 |
|
|
|
|
Name : |
Mr. Hari Sankaran |
|
Designation : |
Managing Director |
|
Address : |
29-B, |
|
Date of Birth/Age : |
19.02.1961 |
|
Date of Appointment : |
16.06.1998 |
|
|
|
|
Name : |
Mr. Arun K Saha |
|
Designation : |
Whole time Director |
|
Address : |
Flat No. E, Raheja Terrace, Aga Ali, Abbas Road, Bangalore-560025, |
|
Date of Birth/Age : |
27.03.1953 |
|
Date of Appointment : |
01.02.1995 |
|
|
|
|
Name : |
Mr. Yoshihiko Miyauchi |
|
Designation : |
Director |
|
Address : |
4-15-10, Takanwa, Minato- Ku, |
|
Date of Birth/Age : |
13.09.1935 |
|
Date of Appointment : |
23.03.1993 |
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|
|
|
Name : |
Mr. D K Mehrotra |
|
Designation : |
Director |
|
Address : |
A-1, Jeevan Jyot, |
|
Date of Birth/Age : |
05.05.1953 |
|
Date of Appointment : |
02.05.2006 |
|
|
|
|
Name : |
Mr. Sushobhan Sarker |
|
Designation : |
Director |
|
Address : |
61, Jeevan Akash Forjet Hill, Tardeo, Mumbai-400036, |
|
Date of Birth/Age : |
29.05.1954 |
|
Date of Appointment : |
31.01.2007 |
|
|
|
|
Name : |
Mr. S B Mathur |
|
Designation : |
Director |
|
Address : |
A-20, Geetanjali Enclave, New Delhi-110017, |
|
Date of Birth/Age : |
11.10.1944 |
|
Date of Appointment : |
30.01.2005 |
|
|
|
|
Name : |
Mr. Keki M Mistry |
|
Designation : |
Director |
|
Address : |
702-703, Hasmukh Mansion 39, Chitrkar Dhurandar Marg, 14th
Road Junction, Khar West, Mumbai-400011, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1954 |
|
Date of Appointment : |
01.02.2001 |
|
|
|
|
Name : |
Mr. Ramnath Pradeep |
|
Designation : |
Director |
|
Address : |
Flat no163-A, Jolly maker I, Cuffe Parade, Mumbai-400 005, |
|
Date of Birth/Age : |
06.09.1954 |
|
Date of Appointment : |
05.05.2008 |
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|
|
|
Name : |
Mr. RC Bhargava |
|
Designation : |
Director |
|
Address : |
House No. 220, Sector 15-Al, Noida, |
|
Date of Birth/Age : |
30.07.1934 |
|
Date of Appointment : |
20.08.1990 |
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|
|
|
Name : |
Mr. Gopi K Arora |
|
Designation : |
Director |
|
Address : |
House No. 181, Sector 15-A, Noida, District Ghaziabad-201301, Uttar
Pradesh, |
|
Date of Birth/Age : |
24.01.1934 |
|
Date of Appointment : |
07.07.2004 |
|
|
|
|
Name : |
Mr. Michael Pinto |
|
Designation : |
Director |
|
Address : |
405, |
|
Date of Birth/Age : |
27.05.1943 |
|
Date of Appointment : |
07.07.2004 |
|
|
|
|
Name : |
Mr. Makoto Shioda |
|
Designation : |
Alternate Director |
|
Address : |
The Grand Hyatt Service Apatments, Santacruz East, Mumbai-400055, |
|
Date of Birth/Age : |
10.03.1956 |
|
|
|
|
Name : |
Mr. S B Nayar |
|
Designation : |
Director |
|
Address : |
Flat B, Serene Apartments, AL 92, 9th |
|
Date of Birth/Age : |
06.09.1954 |
|
Date of Appointment : |
05.05.2008 |
|
|
|
|
Name : |
Mr. Makoto Inoue |
|
Designation : |
Alternate Director |
|
Address : |
2-12-27, 502, Shimotoda, Toa- shi, Saitama-335 0011, |
|
Date of Birth/Age : |
02.10.1952 |
|
Date of Appointment : |
22.04.2009 |
|
|
|
|
Name : |
Mr. Sanjeev Doshi |
|
Designation : |
Director |
|
Address : |
PO Box No.3600 AUH |
|
Date of Birth/Age : |
30.12.1972 |
|
Date of Appointment : |
11.07.2008 |
|
|
|
|
Name : |
Mr. Hideo Ichida |
|
Designation : |
Alternate Director |
|
Address : |
3-45, #1415, Kasama, Sakae-ku, Yakohoma- shi, Kanagava-247 0006, |
|
Date of Birth/Age : |
13.11.1959 |
|
Date of Appointment : |
22.04.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
13094327 |
|
Alok Bhargawa |
|
1808 |
|
Anil Chawla |
|
8100 |
|
Anil Somaiya |
|
1556 |
|
Arun K Saha |
|
5098933 |
|
Avinash Bagul |
|
1211 |
|
Bay Capital Investment, |
|
272727 |
|
Central Bank of |
|
9843386 |
|
Chandrakala Rao |
|
9679 |
|
G S. Mani |
|
18000 |
|
Gul Teckchandani |
|
12540 |
|
Hari Sankaran |
|
93105 |
|
Housing Development Finance Corporation Limited, |
|
14049500 |
|
Indira Discovery Fund Limited, |
|
559090 |
|
Life Insurance Corporation of |
|
29921511 |
As on 25.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Public financial
Company |
|
26.57 |
|
Nationalized or
other banks |
|
16.06 |
|
Mutual funds |
|
.84 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
34.81 |
|
Bodies
corporate |
|
12.48 |
|
Directors
or relatives of directors |
|
0.26 |
|
Other
top fifty shareholders |
|
8.94 |
|
Others
|
|
0.04 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is an
Infrastructure development and finance companies |
GENERAL INFORMATION
|
No. of Employees : |
Information Declined by the Management |
|
|
|
|
Bankers : |
|
|
|
|
|
Financial Institution: |
Centbank Financial Services Limited, Central bank |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloittee Haskins and Sells Chartered Accountant |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
|
|
|
Investing Parties: |
·
Life Insurance Corporation of ·
ORE Corporation, |
|
|
|
|
Collaborators : |
·
Andhra Pradesh Expressway Limited ·
Antenea Seguridad Y Medico Ambieenete S.A. ·
Apptex Manpower Development Services Limited ·
Apptex Marketing Services and
Solutions Limited ·
Centro De Investigacion Elipido Sanchez Marcos
S.A. ·
Chattisgarh Highway Development Company Limited ·
Control 7, ·
Cross Border Power Transmission Company Private
Limited ·
Dibrugarh Hotels Company Private Limited ·
East Hyderabad Expressway Limited ·
Ecoasphalt Construction Company Private Limited ·
Elsamex India Private Limited ·
Elsamex International, SL ·
Elsamex Portugal S.A. ·
Elsamex ·
ESM Mantenimiento Integral, S.A. DE C.V ·
Free Trade Warehousing Private Limited ·
Geotecnia 7, ·
Greater Noida Integrated Warehousing Private
Limited ·
Grusamar ·
Grusamar Ingenieria Y Consulting, SL (Grusamar) ·
·
Haldia Free Trade Warehousing Private Limited ·
Hazaribagh Ranchi Expressway Limited (From May
19,2009) ·
IL and FS Asian Infrastructure Managers Limited ·
IL and FS Cluster Development Initiative Limited ·
IL and FS Ecosmart Limited ·
IL and S
Education and Technology Services Limited ·
IL and FS Energy Development Company Limited ·
IL and FS Financial Services Limited ·
IL and FS Global Financial Services ( ·
IL and E Global Financial Services Pte Limited ·
IL and FS Hydro Energy Limited ·
IL and FS Infrastructure Development Corporation
Limited ·
IL and FS Investment Advisory LLC ·
IL and FS Investment Managers Limited ·
IL and FS Maritime Infrastructure Company Limited ·
IL and FS Maritime Offshore Pte Limited ·
IL and FS Nepal Infrastructure Development
Company Private Limited ·
IL and FS Offshore Natural Resources Pte Limited ·
IL and FS Paradip Refinery Water Limited (From
February 10,2010) ·
IL and FS Portfolio Management Services Limited ·
IL and FS Property Management and
Services Limited ·
IL and FS Renewable Energy Limited ·
IL and FS Securities Services Limited ·
IL and FS Singapore Asset Management Company Pte
Limited ·
IL and FS Tamil Nadu Power Company Limited ·
IL and FS Transportation Networks Limited ·
IL and FS Trust Company Limited ·
IL and FS Urban Infrastructure Managers Limited ·
IL and FS Urban Infrastructure Services Limited ·
IL and FS Waste Management and
Urban Service Limited ·
IL and FS Water Limited ·
IL and FS Wind Farms Limited ·
IL and FS Wind Power Limited ·
India Auto Ancillary Fund Company(Upto May 5,2009) ·
Instiuto Tecnico De La Vialidad Y Del Transporte,
S.A. ·
Integrated Electronic Waste Mgmt and Recycling Limited ·
Integrated Energy
and Coal Development
CompanyPrivate Limited (Upto March 2,
2010) ·
Integrated Rubplas Waste Solutions Limited ·
Integrated Trans Log Development Company Limited ·
Integrated Warehousing Kandla Project Development
Private Limited ·
Integrated Waste Mgmt and
Urban Services (TN) Private Limited ·
Intevial-Gestao Integral Rodoviaria S.A. ·
Inversiones Tyndrum S.A. ·
ITNL Enso Rail Systems Limited ·
ITNL International Pte Limited ·
ITNL Road Infrastructure Development Company
Limited ·
Jharkhand Accelerated Road Development Company
Limited ·
Jharkhand Road Project Implementation Company
Limited (From August 4, 2009) ·
Kanak Resources Management Limited ·
Khambat Port Limited ·
·
Manas Tourism Company Private Limited (Upto March 30,2010) ·
Mantenimiento Y ·
Meghalaya Ropeway Project Company Private Limited
(Upto March 30,2010) ·
Moradabad Bareily Expessway Limited (From
February 4,2010) ·
MP Toll Roads Limited ·
North East Tourism Development Company Private
Limited ·
North Karnataka Expressway Limited ·
Proyectos De Gestion Sistemas, Calculo Y Analysis
S.A ·
Proyectos Y Promociones Inmobillarias Sanchez
Marcos SL ·
Pt Bangun ·
Pt Mantimin Coal Mining (From December 3,2009) ·
Pune Sholapur Road Development Company Limited
(From September 25, 2009) ·
Rapid MetroRail Gurgaon Limited (From July 30,2009)
·
Shchez Marcos Seiializaci6n e Imagen, S.A ·
Se7en Factor Corporation (From December 3,2009) ·
Senalizacion Viales E Imagen, SA ·
Tamil Nadu Water Investment Company Limited ·
Vansh Nimay Infraprojects Private Limited ·
West Gujarat Expressway Limited ·
Yala Construction Company Private Limited ·
Unique Waste Processing Company |
|
|
|
|
Affiliates: |
·
AAF Trustee Company Private Limited ·
AIG Indian Equity Advisors LLC ·
Andhra Pradesh Power Development CompanyLimited
(Upto December 21,2009) ·
Assam Power Projects Development Company Private
Limited ·
Avash Logistic Park Private Limited ·
·
·
·
Bihar Power Infrastructure Company Private
Limited ·
Bodoland Infrastructure Development Company
Limited ·
Centro De Investigacion De Carreteras De
Andalucia S.A ·
CGI-8, ·
Chattisgarh U rja Vikas Private Limited (Upto
October 22,2009) ·
Damodar Valley Tourism Development Private
Limited ·
Canopy Housing and Infrastructure Private Limited ·
Delhi Mumbai Industrial Corridor Development
Corporation Limited ·
Development Investment Trustee Company Private
Limited ·
Dighi Port Limited ·
Dighi Project Development Company Limited ·
Elsamex Road Technology Company Limited ·
Elsamex ·
Gorakhpur Expressway Limited ·
Gujarat International Finance Tec-City Company
Limited ·
Gujarat Tourism Project Development Company
Limited ·
Gujrat Industrial Infrastructure Project Development
Company Limited (From December 28,2009) ·
Haldia Integrated Development Agency Limited ·
ILandE Milestone Realty Advisors Private Limited ·
ILandE Technologies Limited ·
India Telecom Mra Limited ·
Indraprastha Energy andWaste Mgmt Company Private
Limited ·
Infrastructure Development Company of Nagaland
Private Limited ·
Infrastructure Development Corporation of Assam
Limited ·
Integrated Infra log Private Limited (Upto July
6,2009) ·
Investment Trustee Company (Orissa) Private
Limited ·
Iridium India Telecom Limited ·
ITNL Toll Management Services Limited ·
Jharkhand e-Governance Solutions and Services
Limited (From April 2,2009) ·
Jharkhand Infrastructure Development Corporation
Limited ·
Kanpur Unnao Leather Cluster Development Company
Limited ·
Kanpur Waste Management Company Private
Limited Karnataka Enterprise Solutions
Limited ·
KSIIDC-ILandFS Project Development Company
Limited ·
Labtec Ensayos Tecnicos Canarios, SA ·
Mangalore SEZ Limited ·
Maytas Infra Limited (From December 31,2009) ·
MPPL Enterprise Limited ·
Nandan Project Development Company Private
Limited (Upto December 31,2009) ·
Narketpally Addanki Expressway Limited (From
December 29,2009) ·
Naya Raipur Project Development Company Limited ·
New Tirupur Area Development Corporation Limited ·
Noida Toll Bridge Company Limited (Upto March
25,2010) ·
ONGC Mangalore Petrochemicals Limited ·
ONGC Tripura Power Company Limited ·
Orissa e-Governance Services Limited ·
Orissa Project Development Company Private
Limited ·
ORR Auto Infrastructure Services Limited ·
Ovira Logistics Limited ·
PDCOR Limited Power Transmission Company of Nepal
Limited ·
·
Pune Waste Management Company Private Limited ·
Road Infrastructure Deve. Company of Rajasthan
Limited ·
SAIL Salem SEZ Private Limited ·
Sara Fund Trustee Company Private Limited ·
Sealand Ports Private Limited ·
Sealand Warehousing Private Limited ·
Sociedad Concessionaria Autovia A-4 ·
South Coast Infrastructure Dev Company of AP
Limited ·
Syniverse Technologes ( ·
Tamil Nadu Road Development Company Limited (Upto
November 12,2009) ·
Thiruvananthapuram Road Development Company
Limited ·
Tourism Infrastructure Development Company of AP
Limited ·
Urban Mass Transit Company Limited ·
Uttarkhand Infrastructure Projects Company
Private Limited ·
VCS-Elsarnex Company Private Limited ·
Vibrant Special Zone Development Private Limited ·
Warora Chandrapur Ballarpur Toll Road Limited
(From January 11,2010) ·
Wilbur Smith Associates Private Limited ·
Yala Construction Company Limited ·
Zhejiang Elsamex Road Machinery Company Limited ·
Zhejiang Elsamex Road Technology Company Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity shares |
Rs. 10/- each |
Rs.1500.000 Millions |
|
15000000 |
Redeemable Cumulative Preference Shares |
Rs. 100/- each |
Rs.1500.000 Millions |
|
|
Total |
|
Rs.3000.000
Millions |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
113970751 |
Equity shares |
Rs. 10/- each |
Rs.1139.710
millions |
Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
112607839 |
Equity shares |
Rs. 10/- each |
Rs.1126.080
millions |
|
1362912 |
Equity shares of Rs.10/- each, Rs.1/- Each paid up |
|
Rs.1.360
millions |
|
|
Total |
|
Rs.1127.440 millions |
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity shares |
Rs. 10/- each |
Rs.1500.000 Millions |
|
15000000 |
Redeemable Cumulative Preference Shares |
Rs. 100/- each |
Rs.1500.000 Millions |
|
|
Total |
|
Rs.3000.000
Millions |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
115333663 |
Equity shares |
Rs. 10/- each |
Rs.115.334 millions
|
Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
112607839 |
Equity shares |
Rs. 10/- each |
Rs.1126.078
millions |
|
2725824 |
Equity shares of Rs.10/- each, Rs.1/- Each paid up |
|
Rs.2.726
millions |
|
|
Total |
|
Rs.1128.804 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1127.441 |
1108.204 |
1090.330 |
|
|
2] Share Warrant |
0.000 |
1.787 |
3.575 |
|
|
3] Reserves & Surplus |
23757.544 |
22401.231 |
19779.775 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
24884.985 |
23511.222 |
20873.680 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24315.717 |
20074.596 |
17716.564 |
|
|
2] Unsecured Loans |
14374.910 |
14250.410 |
9234.160 |
|
|
TOTAL BORROWING |
38690.627 |
34325.006 |
26950.724 |
|
|
DEFERRED TAX LIABILITIES |
204.000 |
306.900 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
63779.612 |
58143.128 |
47824.404 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8409.130 |
8475.610 |
8662.730 |
|
|
Capital work-in-progress |
1234.399 |
1164.529 |
223.611 |
|
|
|
|
|
|
|
|
INVESTMENT |
32657.908 |
29037.643 |
26016.795 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
477.800 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000
|
|
|
Sundry Debtors |
302.396
|
788.791 |
175.966
|
|
|
Cash & Bank Balances |
4627.507
|
748.867 |
217.311
|
|
|
Other Current Assets |
4467.924
|
3838.481 |
5041.217
|
|
|
Loans & Advances |
19990.065
|
21715.544 |
13999.473
|
|
Total
Current Assets |
29387.892
|
27091.683 |
19433.967
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1090.650
|
1457.270 |
910.590 |
|
|
Other Current Liabilities |
2171.529
|
2194.314 |
3100.470
|
|
|
Provisions |
4647.538
|
3974.753 |
2979.439
|
|
Total
Current Liabilities |
7909.717
|
7626.337 |
6990.499
|
|
|
Net Current Assets |
21478.175
|
19465.346 |
12443.468
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
63779.612 |
58143.128 |
47824.404 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5736.260 |
6595.840 |
7718.700 |
|
|
|
Other Income |
1104.630 |
2645.500 |
1093.340 |
|
|
|
TOTAL (A) |
6840.890 |
9241.340 |
8812.040 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative and Operating Expenses |
847.930 |
1189.130 |
760.680 |
|
|
|
Other Service Charges |
56.570 |
71.850 |
40.980 |
|
|
|
Amount set aside/ written off for non performing assets |
10.010 |
23.790 |
10.780 |
|
|
|
Amount set aside for investment Valuation |
0.000 |
0.000 |
20.150 |
|
|
|
Provision for General Contingency |
600.000 |
800.000 |
500.000 |
|
|
|
TOTAL (B) |
1514.51 |
2084.770 |
1332.590 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5326.380 |
7956.570 |
7485.450 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3307.320 |
3253.510 |
2059.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2019.060 |
4703.060 |
5425.480 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
134.040 |
142.350 |
123.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1885.020 |
4560.710 |
5295.490 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(59.400) |
1413.900 |
499.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1944.420 |
3146.810 |
4796.490 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6383.860 |
4807.970 |
2609.700 |
|
|
|
|
|
|
|
|
|
|
Excess
Provision for Dividend Tax |
94.170 |
83.390 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Special Reserve I |
388.890 |
629.360 |
959.300 |
|
|
|
Special Reserve II |
87.000 |
62.000 |
63.000 |
|
|
|
General Reserve |
194.440 |
314.680 |
500.000 |
|
|
|
Dividend |
|
|
|
|
|
|
Proposed dividend on Equity Shares |
620.090 |
554.100 |
490.650 |
|
|
|
Tax on Dividend |
102.990 |
94.170 |
156.290 |
|
|
|
Interim Divided on Equity Shares |
0.000 |
428.980 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
7029.040 |
6383.860 |
4807.970 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
17.53 |
28.86 |
44.72 |
|
|
|
Diluted |
16.63 |
28.54 |
43.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
27.56
|
34.05 |
54.43
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
32.86
|
69.15 |
68.61
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.99
|
12.82 |
18.85
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.19 |
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.87
|
1.78 |
1.63
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.72
|
3.55 |
2.78
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors (Other than
Micro, Medium and small Enterprises) |
1090.650 |
1457.270 |
910.590 |
CAPITAL:
The Company had issued
5,362,278 warrants in three Series viz, Series A, Series B and Series C of
1,787,426 warrants each to the IL and FS Employees Welfare Trust (IL and FS
EWT). Each warrant is convertible into one equity share of Rs 10/- each at a
premium of Rs 75.06 per share. IL and FS EWT has the option to convert the
warrants in three consecutive years. The preferential issue of warrants to IL
and FS EWT is with the object of providing a long-term incentive plan for IL
and FS Group personnel
During the year;
the last tranche of the warrants (Series C) was converted into 1,787,426 equity
shares of Rs.10 each. This has resulted in increase in the paid-up equity
capital of the Company from Rs.1,108.20 million to Rs.1,126.08 million The
Shareholders of the Company at the Meeting held on August 11, 2008 had
authorized Issue of 5,451,650 equity shares to the IL and FS EWT on terms and
conditions s may be decided by the Board Committee of Directors of the Company.
Accordingly,
during June 2009 the Company had issued 1,362,912 equity shares of face value
of Rs 10 each pad up to the extent of Rs.1 per share
OPERATING
ENVIRONMENT:
FY 2010 began on a
somber note but sentiment improved from the second quarter supported by
positive macro-economic data
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80039344 |
|
Corporate
identity number of the company |
U65990MH1987PLC044571 |
|
Name of the
company |
INFRASTRUCTURE LEASING
AND FINANCIAL SERVICES LIMITED |
|
Address of the
registered office or of the principal place of business in |
The Il and Fs
Finanacial Centreplot No C-22 G Block, Bandra-Kurla Complex, Mumbai-400051, |
|
Type of charge |
Immovable
Property Others |
|
Particular of
charge holder |
Central Bank of
India, Central Bank MMO Building, 6th Floor, 55 Mahatma Gandhi Road, Fort,
Mumbai-400023, Maharashtra,
India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
No Objection
Certificate dated June 29, 2010 issued by Central Bank of |
|
Date of
instrument Creating the charge |
29.06.2010 |
|
Amount secured by
the charge |
Rs.75.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be agreed
between the Company and the Lending Bank from time to time Terms of
Repayment As may be agreed
between the Company and the Lending Bank from time to time Margin A minimum margin
of 1.33 : 1 outstanding amount of loan Extent and
Operation of the charge Central Bank of |
|
Short particulars
of the property charged |
I)
Residential
Premises situated in Flat No 801 on 8th Floor in E building known as Emerald
Isle, Royal Palms, at village Marol Maroshi II)
Others
assets |
|
Particulars of
the present modification |
The financial facilities
extended by DBS Bank Ltd were reduced from Rs.150 million to Rs.75 million
due to part transfer of facility by the Company to IL and FS Financial
Services Limited |
Fixed Assets:
·
·
Premises
·
Improvement to Leasehold Property
·
Furniture, Office Equipments and Data Processing
Equipments
·
Vehicles
·
Plant and Machinery
·
Intangibles
·
Leased Assets
·
AS PER WEBSITE
OVERVIEW:
Background:
Subject is infrastructure development and finance companies
Subject was promoted by the Central Bank of India (CBI), Housing Development
Finance Corporation Limited (HDFC) and Unit Trust of India (UTI). Over the
years, IL and FS has broad-based its shareholding and inducted Institutional
shareholders including State Bank of India, Life Insurance Corporation of
India, ORIX Corporation - Japan and Abu Dhabi Investment Authority
Subject has a distinct mandate - catalysing the development of infrastructure in
the country. The organisation has focussed on the commercialisation and
development of infrastructure projects and creation of value added financial
services From concept to execution, IL and FS houses the expertise to provide
the complete array of services necessary for successful project completion:
visioning, documentation, development, finance, management, technology and
execution
Beyond Infrastructure:
At Company, they understand infrastructure to be more than the sum of
its parts. They mix brick, mortar, technology and management with warmth, hope,
promise and potential
Infrastructure is all-pervading. Be it the ultra-modern metropolis or
the rural backwater, infrastructure is pivotal to all that is involved in the
daily business of living. From households to hospitals, public parks to
businesses, entertainment to education, agriculture to industry, infrastructure
matters, deeply
For Company, the vision of the end result, motivates the process. An
aspiration fulfilled. A community empowered. A region enriched. Such is the
impetus that drives them to catalyse small developments that make big impacts
Public Private Partnership:
Subject is widely recognised as the pioneer of Public Private
Partnership in
Today Subject has evolved into a prominent institution that harnesses the power
of Public Private Partnership, to develop and finance infrastructure projects
across a variety of sectors. Almost uniquely, IL and FS has succeeded in
turning infrastructure capacity creation into a commercially viable proposition
The infrastructure projects are developed in conjunction with Governments,
financing agencies, private sector partners and communities. This unique Public
Private Partnership helps to leverage limited public funds, reduce life cycle
cost, develop and execute more projects on a sustainable basis
ILandFS is committed to providing projects with financial investment,
managerial expertise and inputs that ensure efficiency in service delivery.
They offer a full range of financial, project development and management
services. These services include investment banking, project financing, project
development, management and implementation, asset management, merchant banking,
corporate advisory services and back office services
Successful infrastructure projects require the close involvement of an
array of stakeholders. IL and FS has sponsored various projects in the
infrastructure space in association with a range of partners that encompass
both State Governments as well as Private Sector Partners, including
communities. IL and FS identifies need-driven projects (e.g. roads, bridges,
power, ports, water supply, area development etc.) which can be commercially
viable. IL and FS then uses innovative structural / financial techniques to
enhance project viability and has already successfully pioneered several such
projects
Over the years, building on experience gained in the infrastructure
space, IL and FS has widened its business scope from mere development of
infrastructure projects to encompass a full range of related activities.
To know more about these activities, click on the following links:
- Project
Development
- Project
Finance / Financial Services
- Operations
and Maintenance
Road Ahead:
Subject’s infrastructure development initiatives have been sectorally
and geographically diverse. Strategic relations with State Governments across
Subject has continually judged project effectiveness by outcomes - outcomes
such as increased exports and employment after an Area Development project in
Tamil Nadu; vigorous economic activity witnessed in a region after the
development of a major road link. By focussing on project outcomes, IL and FS
has helped garner the economic potential of projects for all stakeholders. In
the process, IL and FS is transcending from project development and management
to capacity building and value realization
Infrastructure:
Infrastructure Leasing and Financial Services Limited (IL and FS) is one
of
IL and FS was promoted by the Central Bank of India (CBI), Housing Development
Finance Corporation Limited (HDFC) and Unit Trust of India (UTI). Over the
years, IL and FS has broad-based its shareholding and inducted Institutional
shareholders including State Bank of India, Life Insurance Corporation of
India, ORIX Corporation - Japan and Abu Dhabi Investment Authority ILandFS has a distinct mandate -- catalysing
the evelopment of infrastructure in the
country.
The organisation has focussed on the commercialisation and development of
infrastructure projects and creation of value added financial services
From concept to execution, IL and FS houses the expertise to provide the
complete array of services necessary for successful project completion:
visioning, documentation, finance, development, management, technology and
execution
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.84 |
|
|
1 |
Rs.69.32 |
|
Euro |
1 |
Rs.59.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.