MIRA
INFORM REPORT
|
Report Date : |
26.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADITYA BIRLA FINANCIAL SHARED SERVICES LIMITED |
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Registered
Office : |
One |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.06.2008 |
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Com. Reg. No.: |
11-183695 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U65999MH2008PLC183695 |
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|
PAN No.: [Permanent Account No.] |
AAHCA1581A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Financial Services. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a Birla Group Company. It is an established company having moderate track. The company has
been successful in wiping of the accumulated losses of the previous year. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Dharmeshta |
|
Designation : |
Administrative Department |
|
Contact No.: |
91-9894029029 |
|
Date : |
21.03.2012 |
LOCATIONS
|
Registered Office : |
One India Bull Centre, Tower 1, 18th Floor, Jupiter Mill
Compound, 841 S. B. Marg, Elphistone Road, Mumbai – 400013, Maharashtra,
India |
|
Tel. No.: |
91-22-43567000 / 43568300 |
|
Mobile No.: |
91-9894029029 (Ms. Dharmeshta) |
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Fax No.: |
91-22-43568310 |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As on 15.09.2011
|
Name : |
Mr. Pankaj Jawaharlal Razdan |
|
Designation : |
Director |
|
Address : |
Sherwin Ark, Bungalow No.3, Belscot Chs, Lokhandwala Complex, Andheri
(West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1968 |
|
Date of Appointment : |
19.06.2008 |
|
DIN No.: |
00061240 |
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|
|
|
Name : |
Mr. Ajay Krishan Kakar |
|
Designation : |
Director |
|
Address : |
04, 3rd Floor, Lalit Building, 37, Nathalal, parekh Marg, Mumbai
– 400001, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1962 |
|
Date of Appointment : |
19.06.2008 |
|
DIN No.: |
02130368 |
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|
|
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Name : |
Mr. Venkataraman Gopalakrishnan Govindrajapuram |
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Designation : |
Director |
|
Address : |
Flat no.602, 6th Floor, Octavius Hiranandani, Hiranandani
Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1961 |
|
Date of Appointment : |
20.10.2008 |
|
DIN No.: |
02381008 |
KEY EXECUTIVES
|
Name : |
Ms. Dharmeshta |
|
Designation : |
Administrative Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
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|
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|
Aditya Birla Financial Services Limited Jointly With Laxminarayan Investment
Limited, India |
|
1 |
|
Aditya Birla Financial Services Limited Jointly With Pinky Mehta,
India |
|
1 |
|
Aditya Birla Financial Services Limited Jointly With Anil Rustogi,
India |
|
1 |
|
Aditya Birla Financial Services Limited, India |
|
49994 |
|
Aditya Birla Financial Services Limited Jointly With Sushil Agarwal,
India |
|
1 |
|
Aditya Birla Financial Services Limited Jointly With Manoj Kedia |
|
1 |
|
Aditya Birla Financial Services Limited Jointly With Devendra Bhandari |
|
1 |
|
Total |
|
50000 |
As on 15.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.000 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Financial Services. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management. |
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Bankers : |
HDFC Bank |
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Facilities : |
Note: (A) Lease Finance (Secured by
Fixed Assets) From Other than banks
Note: (A) Amount Payable within One Year Rs.11.702 Millions |
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Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Hewlett Packard
Financial Services (India) Private Limited, 3rd Floor, Calcot House, 8/10, M.P.
Shetty Marg, Tamarind Street, Fort, Mumbai - 400023, Maharashtra, India |
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Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
42, Free Press House, 4th Floor, 215, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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PAN.: |
AAAFH2010F |
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Holding Companies : |
·
Aditya Birla Financial Services Private Limited |
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Fellow
Subsidiary : |
·
Aditya Birla Minacs Worldwide Limited CIN
NO.: U99999KA1995PLC052040 ·
Aditya Birla Minacs IT Services Limited CIN
NO.: U72200KA1976PLC027564 ·
Aditya Birla Money Mart Limited CIN
NO.: U61190GJ1997PLC062406 ·
Aditya Birla Capital Advisors Private Limited CIN
NO.: U74140MH2008PTC179360 ·
Aditya Birla Money Limited CIN
NO.: L65993GJ1995PLC064810 ·
Aditya Birla Insurance Brokers Limited CIN
NO.: U99999GJ2001PLC062239 ·
Aditya Birla Finance Limited CIN
NO.: U65990GJ1991PLC064603 ·
Birla Sun Life Insurance Company Limited CIN
NO.: U99999MH2000PLC128110 ·
Aditya Birla Capital Limited |
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|
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Joint Venture : |
·
Birla Sun Life Asset Management Company Limited CIN
NO.: U65991MH1994PLC080811 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
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|
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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 |
0.500 |
0.500 |
0.500 |
|
|
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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|
4] (Accumulated Losses) |
0.000 |
(0.403) |
(0.403) |
|
|
NETWORTH |
0.500 |
0.097 |
0.097 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
20.094 |
13.606 |
0.000 |
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|
2] Unsecured Loans |
36.527 |
24.925 |
0.000 |
|
|
TOTAL BORROWING |
56.621 |
38.531 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
57.121 |
38.628 |
0.097 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
48.771 |
38.045 |
0.000 |
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Capital work-in-progress |
6.680 |
11.705 |
0.000 |
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|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
7.703
|
5.638 |
0.000 |
|
|
Cash & Bank Balances |
2.800
|
4.757 |
0.219 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
16.830
|
9.399 |
0.000 |
|
Total
Current Assets |
27.333
|
19.794 |
0.219 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.617
|
18.721 |
0.000 |
|
|
Other Current Liabilities |
8.461
|
11.632 |
0.122 |
|
|
Provisions |
0.585
|
0.563 |
0.000 |
|
Total
Current Liabilities |
25.663
|
30.916 |
0.122 |
|
|
Net Current Assets |
1.670
|
11.122 |
0.097 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
57.121 |
38.628 |
0.097 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
98.507 |
108.111 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
98.507 |
108.111 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee related expenses |
25.788 |
51.386 |
|
|
|
|
Administrative selling other expenses |
48.999 |
47.846 |
|
|
|
|
TOTAL (B) |
74.787 |
99.232 |
0.403 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
23.720 |
8.879 |
(0.403) |
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
5.401 |
1.743 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.319 |
7.136 |
(0.403) |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.824 |
7.136 |
0.000 |
|
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|
|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
0.495 |
0.000 |
(0.403) |
|
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|
|
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|
Less |
TAX (I) |
0.092 |
0.000 |
0.000 |
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|
PROFIT AFTER TAX
(G-I) (J) |
0.403 |
0.000 |
(0.403) |
|
|
|
|
|
|
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|
|
|
BALANCE CARRIED
TO THE B/S |
0.403 |
0.000 |
(0.403) |
|
|
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|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.06 |
0.00 |
(8.06) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.41
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.50
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.65
|
0.00 |
(184.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.99
|
0.00 |
(4.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
164.57
|
715.95 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
0.64 |
1.80 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
16.617
|
18.721 |
0.000 |
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
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 |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Operational
Performance:
The Company
provides a common pool of facilities and resources like technology,
application, business processes etc., to Companies of the Aditya Birla Financial
Services Group (‘ABFSG’), with a view to optimize the benefits of
specialization and minimize cost for each such company. Accordingly, there has
been no income and expenditure for the Company. All expenses are shared by the
respective ABFSG companies and hence there is no income earned.
Nature of Operations:
Subject was
incorporated on 19th June 2008. It is a subsidiary of Aditya Birla Financial
Services Private Limited. The object of this Company is to provide a common
pool of facilities and resources like providing technology, application and
business process services to its group companies, with a view to optimize the
benefits of specialisation and minimize the cost for each member company. The
member companies have participated in the common pool of facilities and shared
the expenses incurred by Subject and member companies.
Fixed Assets:
·
Office Equipments
·
Computers and Servers
·
Furniture and Fixtures
·
Vehicles
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.50.91 |
|
|
1 |
Rs.80.77 |
|
Euro |
1 |
Rs.67.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.