MIRA
INFORM REPORT
|
Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
IL AND FS EDUCATION AND TECHNOLOGY SERVICES LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Quadrant ‘D’, The IL and FS Financial Centre,
Plot C-22, G-Block, Bandra - Kurla Complex, Bandra (East), Mumbai – 400051, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.12.1997 |
|
|
|
|
Com. Reg. No.: |
11-112535 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 357.468 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80220MH1997PLC112535 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUM105436E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI2106H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Provide Integrated Learning Program for School and Large Scale Training and Development Program for
School. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6820000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Latest financial
i.e. 2011-12 are missing from the government department. From the financials of
2011, the company seems to be performing well. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long term rating : A+ |
|
Rating Explanation |
This rating denote low default risk. The
capacity for payment of financial commitment is considered. |
|
Date |
March 2012 |
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
31-03-2012.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Arvind Trivedi |
|
Designation : |
Deputy General Manager In Finance |
|
Contact No.: |
91-22-67809292 |
|
Date : |
04.12.2012 |
LOCATIONS
|
Registered/ Head Office : |
3rd Floor, Quadrant ‘D’, The IL and FS Financial Centre,
Plot C-22, G-Block, Bandra - Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra, India |
|
Tel. No.: |
91-22-67809292/ 66947575 |
|
Fax No.: |
91-22-66947700/ 67809222 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
|
3rd Floor, |
|
Tel. No.: |
91-120-2512823 / 2512267 |
|
|
|
|
Regional Offices: |
Located at: Ř Jharkhand Ř Karnataka Ř Kerala Ř Madhya Pradesh Ř
Ř Orissa Ř
Ř Rajasthan Ř Tamilnadu Ř Uttar Pradesh Ř Noida Ř
Ř Andhra Pradesh Ř
Ř
Ř
Ř Jammu and Kashmir Ř
|
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Ravi Ramaswamy Parthasarathy |
|
Designation : |
Chairman |
|
Address : |
Vinayak Angan, 12th Floor, Near Bengal Chemicals, Opposite V.I.P
Lounge, Old Prabhadevi Road, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1952 |
|
Qualification : |
Bachelors degree
in Science (B.Sc) from Madras University and a Post graduate degree in
management from IIM-Ahmedabad |
|
Date of Appointment : |
12.01.1998 |
|
DIN No.: |
00002392 |
|
|
|
|
Name : |
Mr. Hari Sankaran |
|
Designation : |
Vice Chairman |
|
Address : |
29 B, Carter Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
19.02.1961 |
|
Qualification : |
Masters in
Economics from the London School of Economics and Political Science
â€"London |
|
Date of Appointment : |
21.01.2010 |
|
DIN No.: |
00002386 |
|
|
|
|
Name : |
Mr. Ramireddy Chandra Mowleeswar Reddy |
|
Designation : |
Managing director |
|
Address : |
186, 1st Floor, Munrika Enclave, Opposite Vasant Vihar Police
Station, Delhi – 110067, India |
|
Date of Birth/Age : |
20.10.1963 |
|
Qualification : |
Indian
Administrative Service (IAS) |
|
Date of Appointment : |
21.01.2010 |
|
DIN No.: |
00060073 |
|
|
|
|
Name : |
Mr. Sudhir Gunvantray Mankad |
|
Designation : |
Director |
|
Address : |
Plot No. 192, Sector 8-C, Gandhinagar – 382007, Gujarat, India |
|
Date of Birth/Age : |
05.08.1947 |
|
Qualification : |
Mr. Mankad
joined the Indian Administrative Services in 1971. |
|
Date of Appointment : |
20.12.2007 |
|
DIN No.: |
00086077 |
|
|
|
|
Name : |
Mr. Alok Bhupendranath Bhargava |
|
Designation : |
Director |
|
Address : |
B-1201, Gulmohar Apartment, Ceaser Road, Amboli, Andheri (West),
Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1961 |
|
Qualification : |
An alumnus of
the Indian Institute of Management, Ahmedabad and The Indian Institute of
Technology, New Delhi. |
|
Date of Appointment : |
02.08.2001 |
|
DIN No.: |
00162746 |
|
|
|
|
Name : |
Mr. Arvind Inder Malhotra |
|
Designation : |
Director |
|
Address : |
Plot No. 655, Shreenathji, Flat No. 703, 7th Floor, 16th
Cross Road, Khar, Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1947 |
|
Qualification : |
Holds a
Bachelors degree in commerce (Honors). |
|
Date of Appointment : |
19.01.1998 |
|
DIN No.: |
01312057 |
|
|
|
|
Name : |
Mr. Abhishek Sharman |
|
Designation : |
Nominee director |
|
Address : |
Flat C 204, Wasoodew Co- operative Housing Society Limited, Surya Apartments,
79 Hill Road, Opposite Holy Family Hospital, Bandra West, Mumbai, India |
|
Date of Birth/Age : |
03.08.1980 |
|
Qualification : |
Received a
Management Degree from the Indian Institute of Management, Calcutta and an
Engineering degree from the Indian Institute of Technology, Delhi |
|
Date of Appointment : |
21.01.2010 |
|
DIN No.: |
01329800 |
|
|
|
|
Name : |
Mr. Kumar Krishnan Iyer |
|
Designation : |
Nominee director |
|
Address : |
Flat No. 2002, 20th Floor, Odyssey II, Hiranandani Gardens,
Powai, Mumbai – 400076, India |
|
Date of Birth/Age : |
28.05.1962 |
|
Qualification : |
Received a
Bachelorâ€(tm)s degree in Chemical Engineering from the Indian Institute of
Technology, Mumbai, |
|
Date of Appointment : |
21.01.2010 |
|
DIN No.: |
01865617 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Trivedi
|
|
Designation : |
Deputy General Manager In Finance |
|
|
|
|
Name : |
Mrs. Varsha Shivaji Sawant |
|
Designation : |
Company Secretary |
|
Address : |
F/7-C, Viceroy Court, |
|
Date of Birth/Age : |
02.05.1966 |
|
Date of Appointment : |
19.06.2008 |
|
PAN No.: |
ARKPS2471E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Shareholding details file attached
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
26.12 |
|
Other
top fifty shareholders |
|
73.88 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide Integrated Learning Program for School and Large Scale Training and Development Program for
School. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Cash |
|
|
|
|
Purchasing : |
L/C and Cash |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
400 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Ř Yes Bank, Worli
Branch, Mumbai, Maharashtra, India Ř
Oriental
Bank of Commerce, H-15, Connaught Circus, Delhi – 110001, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Note: (A) The
abovementioned debentures were during the year converted into 3,428,571
equity shares at a premium of Rs. 165 per share. (B) Letter of Credit Payable (Secured by first exclusive charge on
book debts and current assets of the company with cover of 1.25 times) |
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor,
Building 10, Tower B, DLF Cyber, City Complex, DLF City, Phase II,
Gurgaon-122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD2095B |
|
|
|
|
Holding Company : |
Infrastructure Leasing
and Financial Services Limited [U65990MH1987PLC044571] |
|
|
|
|
Subsidiary Company : |
Direct Ř IL&FS
Cluster Development Initiative Company Limited (from 14th Jan, 2010)
[U70109DL2006PLC153767] Ř IL&FS Skill Development
Corporation Limited (from 28th Jan, 2011) [U80904DL2011PLC213135] Indirect Ř Appex Manpower
Development Services Limited Ř Appex Marketing
Services and Solutions Limited |
|
|
Ř |
|
Fellow Subsidiaries : |
Ř IL&FS Financial
Services Limited [U65990MH1995PLC093241] Ř IL&FS
Property Management and Services Limited (upto 1st Oct. 2010) Ř IL&FS Trust
Company Limited [U66020MH1995PLC095507] Ř IL&FS
Securities Services Limited [U74992MH2006PLC163337] Ř IL&FS Transportation
Network Limited [L45203MH2000PLC129790] Ř IL&FS
Investment Managers Limited Ř IL&FS
Ecosmart Limited [U72900DL2000PLC187530] Ř IL&FS
Investment Trust – IV Ř IL&FS
Infrastructure Development Company Limited Ř IL&FS
Cluster Development Initiative Company Limited (till 13th January,2010) Ř IL&FS
Maritime Infrastructure Company Limited [U45201MH2006PLC165803] Ř IL&FS
Tamilnadu Power Company Limited [U72200TN2006PLC060330] Ř Moradabad
Barerilly Expressway Limited [U45208MH2010PLC198737] Ř Chenani Nashri
Tunnelway Limited [U45400MH2010PLC203614] Ř IL&FS
Windpower Limited [U40102MH2007PLC176369] Ř A2Z Infra
Management & Services Limited [U74999HR1991PLC043720] Ř Jharkhand
Accelerated Road Development Company Limited [U45203JH2008PLC013085] Ř IL & FS
INVESTMENT MANAGERS LIMITED [L65999MH1986PLC147981] |
|
|
Ř |
|
Affiliates |
Ř Kanpur Unnao
Leather Cluster Development Company Limited ( upto 28th Sept. ,2010 ) Ř Orix Auto
Infrastructure Service Limited [U99999MH1995PLC086014] Ř Bihar e-Governance
Services and Technologies Limited [U72200BR2006PLC012666] Ř Jharkand
e-Governance Solutions and Services Limited [U72200JH2008PLC013151] Ř IL&FS
Technologies Limited [U74999MH1993PLC070724] Ř PDCOR Limited
[U74140RJ1997PLC014517] Ř Wilbur Smith
Associates Private Limited [U74210KA2001PTC030670] Ř Orissa
e-Governance Services Limited [U72200OR2008PLC009813] |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,746,806 |
Equity Shares |
Rs.10/- each |
Rs. 357.468 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
357.468 |
323.182 |
323.182 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1349.812 |
712.834 |
510.371 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1707.280 |
1036.016 |
833.553 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
374.710 |
600.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
374.710 |
600.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2081.990 |
1636.016 |
833.553 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
267.900 |
154.460 |
99.279 |
|
|
Capital work-in-progress |
12.284 |
10.349 |
30.413 |
|
|
|
|
|
|
|
|
INVESTMENT |
600.499 |
600.000 |
6.000 |
|
|
DEFERREX TAX ASSETS |
14.400 |
44.200 |
87.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.371
|
40.911
|
53.098 |
|
|
Sundry Debtors |
1058.323
|
810.683
|
515.225 |
|
|
Cash & Bank Balances |
31.541
|
80.404
|
34.507 |
|
|
Other Current Assets |
335.624
|
1.911
|
9.993 |
|
|
Loans & Advances |
380.356
|
183.588
|
316.642 |
|
Total
Current Assets |
1860.215
|
1117.497
|
929.465 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
481.416
|
223.841
|
155.130 |
|
|
Other Current Liabilities |
64.396
|
44.168
|
56.707 |
|
|
Provisions |
127.496
|
22.481
|
106.767 |
|
Total
Current Liabilities |
673.308
|
290.490
|
318.604 |
|
|
Net Current Assets |
1186.907
|
827.007
|
610.861 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2081.990 |
1636.016 |
833.553 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1733.675 |
1163.808 |
917.618 |
|
|
|
Other Income |
66.009 |
37.693 |
37.458 |
|
|
|
TOTAL (A) |
1799.684 |
1201.501 |
955.076 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
532.352 |
147.945 |
|
|
|
|
Employee related expenses |
254.518 |
213.014 |
|
|
|
|
Administrative selling other expenses |
684.142 |
495.312 |
|
|
|
|
TOTAL (B) |
1471.012 |
856.271 |
711.006 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
328.672 |
345.230 |
244.070 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.955 |
2.718 |
0.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
320.717 |
342.512 |
243.632 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
62.744 |
36.113 |
25.203 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
257.973 |
306.399 |
218.429 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
70.100 |
103.900 |
28.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
187.873 |
202.499 |
190.235 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
260.457 |
57.994 |
(471.691) |
|
|
|
|
|
|
|
|
|
Add |
TRANSFERRED
FROM SECURITIES PREMIUM ACCOUNT |
0.000 |
0.000 |
130.757 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT FOR
CAPITAL REDUCTION |
0.000 |
0.000 |
323.182 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
0.000 |
20.000 |
|
|
|
Dividend |
100.000 |
0.000 |
80.795 |
|
|
|
Tax on Dividend |
16.609 |
0.036 |
13.694 |
|
|
|
|
136.609 |
0.036 |
114.489 |
|
|
BALANCE CARRIED
TO THE B/S |
311.721 |
260.457 |
57.994 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Services |
87.534 |
2.162 |
2.973 |
|
|
|
Export of Goods – FOB Basis |
0.000 |
0.000 |
2.000 |
|
|
TOTAL EARNINGS |
87.534 |
2.162 |
4.973 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
|
|
|
|
Basic
|
5.52 |
6.27 |
4.71 |
|
|
|
Diluted
|
5.52 |
6.15 |
4.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
10.44 |
16.85
|
19.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.88 |
26.33
|
23.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.12 |
24.09
|
21.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.30
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.61 |
0.86
|
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.76 |
3.85
|
2.92 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
481.416 |
223.841 |
155.130 |
|
Sundry creditors |
481.416 |
223.841 |
155.130 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS:
The business of the
Company is organized around five Groups: Education, Skill Development,
e-Governance, Health Initiatives and Cluster Development. Major portion of
Skills and all the Cluster Initiatives are operated through Cluster Development
Initiative Ltd, wholly owned subsidiary of the Company:
(A) Education Group:
(1) ICT @Schools: During the year the Company
has been able to achieve a breakthrough in ICT and CAL segment. It has bagged
ICT mandates in 5 States to set up and operate computer labs in over 2000 schools.
Also, retail sale of the Multimedia Community Learning product: K-Yan has risen
by 200% in comparison with the previous year. The ICT business which was
largely confined to the sale of K-Yans and CAL has now been expanded to include
establishment of and operation of computer labs on BOT basis, making ICT
@schools a leading business practice to watch out for
(2) School Infrastructure: This practice offers
end to end solutions for designing, construction and management of schools in
both private and government school markets. During the year, this Practice has
successfully leveraged its experience in Delhi Schools Project and is providing
advisory services to over 60 Government schools in Gujarat, Karnataka, Bihar
and Mumbai
(3) Community and Supplementary Education: The
Company is actively implementing community and supplementary education projects
with the support of CSR initiatives of leading corporates, including IL&FS
group companies, in the states of Karnataka, Maharashtra, Uttar Pradesh,
Jharkhand, West Bengal and Tripura. These mandates are aimed at imparting soft
skills, life management and computer skills to the community at large
(4) Web and Mobile based e-Learning Solutions:
Mobile based learning solutions were conceived and executed during the year.
Within short span of one year, the Practice was able to develop strong
foundation in terms of content and partnerships with the telecom companies. At
present, around 19 products like 'English Seekho' are live on 7 telecom
companies with 300,000 users. Plans have been drawn up to scale up the user
base significantly during FY-12
During the year,
another web-based solution "Exploriments" was launched in India and
USA, which catered to the school segment. This solution aims at providing
greater conceptual understanding of critical aspects in Science &
Mathematics
(B) Skill Development Group:
(1) Placement Linked Skill Development Programmes:
Under the placement linked skill development programmes, the Company has been
able to train over 110,000 rural BPL youth and place more than 90% of the
trained candidates in apparel, leather, retail, construction and other
industries, over the past 3 years of them 58,000 were trained and placed during
one year of FY-11 alone. Given the encouraging response, plans have been drawn
up to train and place 100,000 rural BPL youth in FY-12
(2) Good Governance Training: During the year,
the Company has imparted training to approximately 60,000 PRI functionaries and
local Government officials in the States of UP, Haryana and Madhya Pradesh
(3) Corporate Training: On the Corporate
Training mandates, approximately, 10,000 employees of HDFC Bank, Bank of
Rajasthan and Axis Bank were trained in soft & domain specific skills
(4) IL&FS Skill Development Corporation: SPV
has been set up in partnership with National Skill Development Corporation
(NSDC) to establish and operate 100 multi skills schools over next 4 years.
These Schools, at steady state, are expected to train 2 million people over
next 10 years. As per the agreed Business Plan, the first skills school at
Palladam, near Coimbatore, has become operational. Work on remaining 12 Schools
that are to be set up during FY-12 is in progress
(C) E Governance Group:
(1) ICT @ Government: During the year the Company
was engaged in several consulting/transaction advisory mandates with the IT
Departments of the State Governments. However, the focus has shifted from
consulting to implementation mandates and first such mandate obtained during
the year was computerization of primary Agricultural Co-Op Societies (PACS) in
West Bengal
(2) UID Enrollment: The Company has undertaken
enrolment of people for unique identification, in the name of IL&FS, the
parent company. IL&FS has been empanelled with Unique Identification
Authority of India (UIDAI) for the purpose of enrolment throughout the country.
As per the UIDAI work processes, the designated Registrars like the state
governments and banks, appoint the Enrolment Agencies, out of the empanelled
ones, through competitive bidding process. The Company has actively
participated in such bids and obtained mandates from various state governments
(AP, HP and Jharkhand) and banks (SBI, CBI, BoB and Allahabad Bank) to enroll
approximately 50 million people
(3) Financial Inclusion: Company has procured
mandates from Punjab National Bank, Central Bank of India and Himachal Grameen
Bank for opening and maintaining one million bank accounts of the financially
excluded people in 500 villages in the states of UP, MP, HP, Gujarat and
Rajasthan. Approximately 150,000 accounts have been opened as on March 31,
2011, and it is targeted to open the balance bank accounts (out of one million
mandate) during FY-12
(D) Health Initiatives Group:
(1) Management of Project for Prevention of
HIV/AIDS from Mother to Child: The Company has been designated as the
'Principal Recipient' by UN Global Fund, Geneva to manage one of the components
of HIV/AIDS prevention programmes, related to transmission of virus from Mother
to Child. The implementation of this Project has commenced
(2) Telemedicine Projects: Company has been
implementing very innovative tele medicine projects for ophthalmology and
Homeopathy in Tripura, apart from ayuervedic project in Bihar
(E) Cluster Development Group:
(1) There is increased recognition in the Government
and the industry that the Cluster based approach is the most cost effective and
sustainable framework for the competitive enhancement of the manufacturing
industry. The cluster development projects are implemented through IL&FS
Cluster Development Initiative Ltd, the wholly owned subsidiary of the Company
(2) Textile Clusters: Development of Greenfield
textile cluster parks under the Scheme for Integrated Textile Parks (SITP), GoI
has been the flagship mandate of the Company. Out of 33 such Parks, 21 parks
have become operational as of March 2011. The Government has decided to take up
additional 20 textile clusters and the company is hopeful of obtaining PMC
mandate for these, as well
(3) Other Cluster Development projects: Other
significant interventions include PMA to the Ministry of Food Processing, GOI
for setting up of 10 mega Food Parks in the Country and to the Department of
AYUSH, GOI for setting up of 10 cluster CFCs. The Company is also engaged in
comprehensive improvement of Narsapur (AP) Lace Cluster, to promote &
strengthen livelihood of 100,000 women artisans under Mega Clusters scheme of
GoI
(4) Africa Engagement: In addition, the Company
has done significant ground work in facilitating Indian investments in cotton
& textile sector in Ethiopia, under a mandate given by Ministry of
Commerce, GoI. Based on this successful experience, the GOI has mandated the
Company for Value Chain study pertaining to the Cotton in the "Cotton 4 Countries:
viz Male, Bucino Faco, Benin and Chad
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U80220MH1997PLC112535 |
|
Name of the
company |
IL AND FS
EDUCATION AND TECHNOLOGY SERVICES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3rd Floor, Quadrant ‘D’, The IL and FS Financial Centre,
Plot C-22, G-Block, Bandra - Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra, India Email: varsha.sawant@ilfsets.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Others (Current
Assets) |
|
Particular of
charge holder |
Oriental Bank of
Commerce, H-15, Connaught Circus, Delhi – 110001, India Email: bm0633@obc.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
17.02.2012 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 1.75
% p.a (Present Base rate of the Bank
is 10.75 %) Terms of Repayment Tenor for WCDL :
Min 1 month and Max 12 Months Tenor for Cash
Credit : 1 Year Margin 25% Extent and Operation of the charge Rs. 500.000
Millions against charge on the whole
of the stocks of raw material, stock in process, finished goods,
stores and spares and receivables of
the company on pari- passu basis with yes bank under multiple banking
arrangements To avail working
capital facility (as described in the
deed of hypothecation dated February 17, 2012 ) |
|
Short particulars
of the property charged |
Whole of the stocks of raw material, stock in
process, finished goods, stores and spares and receivables |
CONTINGENT LIABILITIES:
Claims not acknowledged as debt comprises
(Rs.
in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
a) Customs Duty claims disputed by the Company relating to issues of
classification. The case is pending with Supreme Court. |
5.272 |
5.272 |
|
b) Value of Sales Tax "C"
forms" not received. |
2.808 |
0.635 |
|
c) Bank guarantees issued on behalf of the Company. |
124.723 |
24.260 |
|
d) Corporate guarantee given by the Company to its holding Company as
counter guarantee, for guarantee given to third parties by the holding
Company. |
15.941 |
21.097 |
FIXED ASSETS:
Ř Building
Ř Data Processing Equipment
Ř Furniture and Fixtures
Ř Office Equipments
Ř Vehicles
Ř Moulds
Ř Intellectual Property Rights
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 d 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. 54.95 |
|
|
1 |
Rs. 88.42 |
|
Euro |
1 |
Rs. 71.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
52 |
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.