MIRA
INFORM REPORT
|
Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE CAPITAL ASSET MANAGEMENT LIMITED |
|
|
|
|
Registered
Office : |
‘H’ Block, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-220793 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 107.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910MH1995PLC220793 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR027433G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2668G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The
Company's principal activity is to act as an investment manager to Reliance
Mutual Fund ( the Fund'), to provide Portfolio Management Services ('PMS') to
clients under Securities and Exchange Board of India (SEBI) |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 44000000 |
|
|
|
|
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.
Latest financials i.e. 2011-12 are missing from the Government department. From
the available financial the company seems to be performing very well.
Financial position of the company is good. 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 the 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.
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 |
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 DENIED BY
|
Name : |
Ms. Namrata |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-30479400 |
|
Date : |
23.11.2012 |
LOCATIONS
|
Registered Office : |
‘H’ Block, 1st Floor, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30479800/ 30994600 |
|
Fax No.: |
91-22-30327202/ 30994699 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Corporate Office : |
570, Rectifier House, 2nd Floor, Naigaum Cross Road, Next
to Royal Industrial Estate, Wadala, Mumbai – 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479800 |
|
|
|
|
Branch Office : |
11th and 12th Floor, One India Bulls Centre,
Tower 1 Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinston Road,,
Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-30994600 |
|
Fax No.: |
91-22-30994699 |
DIRECTORS
AS ON 22.08.2012
|
Name : |
Mr. Kanu Harkisondas Doshi |
|
Designation : |
Director |
|
Address : |
102 Shivala, Khatau Road, Cuffe Parade, Mumbai - 400005, Maharashtra,
India |
|
Date of Birth/Age : |
13.04.1937 |
|
Qualification : |
B.Com, B A, FCA (Chartered Accountant) |
|
Date of Appointment : |
09.06.2006 |
|
DIN No.: |
00577409 |
|
|
|
|
Name : |
Mr. Sushil Chandra Tripathi |
|
Designation : |
Director |
|
Address : |
27 Sector 15 A, Noida - 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.01.1946 |
|
Qualification : |
M.Sc (Physics
Spl. Electronics), LLB, Postgraduate Diploma in Development Studies (Cantab),
AIMA Diploma in Management |
|
Date of Appointment : |
24.07.2007 |
|
DIN No.: |
00941922 |
|
|
|
|
Name : |
Mr. Soumen Ghosh |
|
Designation : |
Director |
|
Address : |
Flat No. 1501, Lodha Aria, Plot No. 6/207, Tokersey Jivraj Road,
Sewree (West), Mumbai – 400015, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1959 |
|
Qualification : |
B.Sc (Hons) Mechanical Engineering from University of London. ACA
Institute of Chartered Accountants England and Wales |
|
Date of Appointment : |
07.06.2010 |
|
DIN No.: |
01262099 |
|
|
|
|
Name : |
Yutaka Jitsuo Ideguchi |
|
Designation : |
Director |
|
Address : |
4-61, Tsukushino 3-Chome, Machida, Tokyo - 1940001 |
|
Date of Birth/Age : |
04.09.1963 |
|
Date of Appointment : |
22.08.2012 |
|
DIN No.: |
05340673 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Ramanlal Patel |
|
Designation : |
Manager |
|
Address : |
Flat No. 302, Mitasu Apartment, 05 Odhav Nagar, Near Ganesh Mandir,
Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1966 |
|
Date of Appointment : |
01.07.2012 |
|
PAN No.: |
AAHPP7269H |
|
|
|
|
Name : |
Mr. Gajendra Singh Thakur |
|
Designation : |
Secretary |
|
Address : |
302, Samir, b-Wing, Sushil Samir CHS, Ashok Nagar, Kandivali
(East), Mumbai – 400101, Maharashtra,
India |
|
Date of Birth/Age : |
24.07.1979 |
|
Date of Appointment : |
09.08.2012 |
|
PAN No.: |
ADEPT3605R |
|
|
|
|
Name : |
Madhusudan Kela |
|
Designation : |
Head - Equity |
|
Date of Birth/Age : |
42 years |
|
Qualification : |
B.Com, MMS |
|
Experience : |
16 Years |
|
|
|
|
Name : |
Sundeep Sikka |
|
Designation : |
Chief Executive
Officer |
|
Date of Birth/Age : |
38 years |
|
Qualification : |
B.Com, MBA |
|
Experience : |
15 Years |
|
|
|
|
Name : |
Sunil Singhania |
|
Designation : |
Head- Equity
Investments |
|
Date of Birth/Age : |
43 years |
|
Qualification : |
B.Com, CFA, FCA |
|
Experience : |
18 Years |
|
|
|
|
Name : |
Amitabh Mohanty |
|
Designation : |
Head – Fixed
Income |
|
Date of Birth/Age : |
39 years |
|
Qualification : |
M B A (IIM
Ahd.), B.E.(IIT Roorkee) |
|
Experience : |
15 Years |
|
|
|
|
Name : |
Ramanan
Venkateswaran |
|
Designation : |
Head-Research |
|
Date of Birth/Age : |
53 years |
|
Qualification : |
B.Sc. MBA |
|
Experience : |
25 Years |
|
|
|
|
Name : |
Himanshu Vyapak |
|
Designation : |
Head- Sales,
Product and Customer Service |
|
Date of Birth/Age : |
36 years |
|
Qualification : |
B.A. MBA |
|
Experience : |
14 Years |
|
|
|
|
Name : |
Sanjiv Gudal |
|
Designation : |
Head – Emerging
Business |
|
Date of Birth/Age : |
39 years |
|
Qualification : |
B.Com, DBM |
|
Experience : |
16 Years |
|
|
|
|
Name : |
Rajesh Derhgawen |
|
Designation : |
Head- HR, Admin
& Infrastructure |
|
Date of Birth/Age : |
44 years |
|
Qualification : |
B.Sc., PGDPM |
|
Experience : |
17 Years |
|
|
|
|
Name : |
Muneesh Sud |
|
Designation : |
Head - Legal,
Secretarial and Compliance |
|
Date of Birth/Age : |
41 years |
|
Qualification : |
ICWAI, ICSI, LLB |
|
Experience : |
19 Years |
|
|
|
|
Name : |
Shahzad Madon |
|
Designation : |
Head - Pms and
Alternative Assets |
|
Date of Birth/Age : |
45 years |
|
Qualification : |
B.Com, MMS |
|
Experience : |
23 Years |
|
|
|
|
Name : |
Chatterjee
Saugata |
|
Designation : |
Head - Distribution |
|
Date of Birth/Age : |
41 years |
|
Qualification : |
BE, MMS |
|
Experience : |
16 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.08.2012
|
Names of Equity Shareholders |
No. of Shares |
Percentage of
Shares |
|
Reliance Capital Limited, India jointly with Surendra Pipara |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Hasit Shukla |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Neeraj Dwivedi |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Chetan Raval |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with V R Mohan |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Yogesh Deshpande |
100 |
0.00 |
|
Nippon Life Insurance Company, Japan |
2995200 |
26.00 |
|
Reliance Capital Limited, India |
7514200 |
65.23 |
|
Reliance ADA Group Trustees Private Limited, India |
500000 |
4.34 |
|
EP Global Markets (Cayman) Limited, Cayman Islands |
510000 |
4.43 |
|
Total |
11520000 |
100.00 |
|
Names of Preference Shareholders |
No. of Shares |
Percentage of
Shares |
|
Reliance Securities Limited, India |
1899 |
9.50 |
|
Reliance CWT India Limited, India |
1900 |
9.50 |
|
Emerging Money Mall Limited, India |
16200 |
81.00 |
|
Total |
19999 |
100.00 |
AS ON 22.08.2012
|
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] |
|
30.43 |
|
Bodies
corporate |
|
69.57 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
Company's principal activity is to act as an investment manager to Reliance
Mutual Fund ( the Fund'), to provide Portfolio Management Services ('PMS') to
clients under Securities and Exchange Board of India (SEBI) |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai 400013, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Ultimate Holding Company: |
Reliance Innoventures Private Limited |
|
|
|
|
Holding Company: |
Reliance Capital Limited [L65910MH1986PLC165645] |
|
|
|
|
Wholly Owned Subsidiary: |
Ř Reliance Asset Management (Mauritius) Limited Ř Reliance Asset Management (Singapore) Pte Limited Ř Reliance Capital Asset Management (UK) Plc. Ř Reliance Capital Pension Fund Limited Ř
Reliance Asset
Management (Malaysia) SDN BHD Ř Reliance General Insurance Company Limited Ř Reliance Money Express Limited Ř
Reliance Gilts
Limited Ř Reliance Capital Trustee Company Limited Ř
Medybiz Private
Limited Ř
Reliance Venture
Asset Management Private Ltd (formerly Reliance Technology Ř
Ventures Private
Limited) Ř Reliance Capital Research Private Limited Ř Reliance Equity Advisors (India) Limited Ř Reliance Consultants (Mauritius) Limited Ř Reliance Equities International Private Limited [U72900MH2000PTC124367] Ř Reliance Home Finance Private Limited Ř Reliance Capital (Singapore) Pte Limited Ř
Reliance
Commercial Finance Private Limited (formerly known as Reliance Ř
Consumer Finance
Private Limited) Ř Reliance Securities Limited |
|
|
|
|
Fellow Subsidiary: |
Ř
Reliance
Commodities Limited Ř
Reliance
Financial Limited Ř
Reliance
Alternative Investments Services Private Limited Ř
Quant Broking
Private Limited Ř
Quant Capital
Advisors Private Limited Ř
Quant Capital
Finance and Investments Private Limited Ř
Quant Capital
Private Limited Ř
Quant Commodities
Private Limited Ř Quant Commodity Broking Private Limited Ř
Quant Securities
Private Limited Ř
Reliance Exchange
next Limited Ř
Reliance
Infrastructure Finance Private Limited Ř
Reliance Spot Exchange
Infrastructure Limited Ř
Reliance Wealth
Management Limited Ř Reliance Investment Banking Services Limited |
CAPITAL STRUCTURE
AFTER 22.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
350,000 |
Preference Shares |
Rs. 100/- each |
Rs. 35.000 Millions |
|
|
Total |
|
Rs. 155.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,520,000 |
Equity Shares |
Rs.10/- each |
Rs. 115.200
Millions |
|
19,999 |
Preference Shares |
Rs. 100/- each |
Rs. 2.000
Millions |
|
|
Total |
|
Rs. 117.200 Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,15,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 115.000 Millions |
|
3,50,000 |
Preference Shares |
Rs. 100/- each |
Rs. 35.000 Millions |
|
|
Total |
|
Rs. 150.000
Millions |
Issued, Subscribed :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,07,60,000 |
Equity Shares |
Rs.10/- each |
Rs. 107.600
Millions |
|
19,999 |
Preference Shares |
Rs. 100/- each |
Rs. 2.000
Millions |
|
|
Total |
|
Rs. 109.600 Millions |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,07,60,000 |
Equity Shares |
Rs.10/- each |
Rs. 107.600
Millions |
|
19,999 |
Preference Shares |
Rs. 100/- each |
Rs. 2.000
Millions |
|
|
Less: Forfeited Shares |
|
Rs. 2.500
Millions |
|
|
Total |
|
Rs. 107.100 Millions |
NOTE:
(A) Of the above 1,00,00,000 shares held by Reliance Capital Limited,
the holding company
(B) Of the above 1,00,00,000 shares held by Reliance Capital Limited,
the holding company
(C) 31.03.2011 19,999 1% Non-Cumulative Redeemable Preference shares of
Rs.100 each (Shares issued to erstwhile equity and preference shareholders of
RMIL pursuant to Scheme of Arrangement between Reliance Capital Asset
Management Limited (RCAM) and Reliance Money Infrastructure Limited (RMIL) for
acquisition of infrastructure division of RMIL) TOTAL Rs. 1.999 millions
(D) Amount recoverable from Reliance Capital Asset Management Employee
Benefit Trust (ESOP Trust), (2,00,000 Equity Shares of Rs.10 each allotted to
the Trust during the year 2007-08) Rs. 2.000 millions Amount recoverable from
Reliance Capital Asset Management Employee Benefit Trust (ESOP Trust), (50,000
Equity Shares of Rs.10 each allotted to the Trust during the year 2010-11) Rs.
0.500 million Total Rs.2.500 millions
(E) Amount recoverable from Reliance Capital Asset Management Employee
Benefit Trust (ESOP Trust), (2,00,000 Equity Shares of Rs.10 each allotted to
the Trust during the year 2007-08) Rs. 2.000 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 |
107.100 |
105.100 |
105.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11015.907 |
10281.008 |
8318.206 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
11123.007 |
10386.108 |
8423.306 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11123.007 |
10386.108 |
8423.306 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
252.129 |
250.171 |
283.421 |
|
|
Capital work-in-progress |
5.624 |
6.596 |
1.514 |
|
|
|
|
|
|
|
|
INVESTMENT |
10283.503 |
11226.877 |
8189.844 |
|
|
DEFERREX TAX ASSETS |
75.923 |
57.785 |
41.690 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
82.865
|
165.119 |
39.435 |
|
|
Cash & Bank Balances |
38.899
|
33.442 |
2.491 |
|
|
Other Current Assets |
5.237
|
15.695 |
6.842 |
|
|
Loans & Advances |
3474.040
|
370.511 |
390.033 |
|
Total
Current Assets |
3601.041
|
584.767 |
438.801 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1130.390
|
1679.951 |
409.323 |
|
|
Other Current Liabilities |
44.022
|
10.944 |
39.816 |
|
|
Provisions |
1920.801
|
49.193 |
82.825 |
|
Total
Current Liabilities |
3095.213
|
1740.088 |
531.964 |
|
|
Net Current Assets |
505.828
|
(1155.321) |
(93.163) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11123.007 |
10386.108 |
8423.306 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
6269.624 |
6117.749 |
3768.049 |
|
|
|
Other Income |
722.886 |
424.730 |
675.487 |
|
|
|
TOTAL (A) |
6992.510 |
6542.479 |
4443.536 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Remuneration |
1266.012 |
1210.025 |
1040.456 |
|
|
|
Diminution in Value of Investment |
0.000 |
0.000 |
7.738 |
|
|
|
Administrative Expenses |
2424.706 |
2418.463 |
786.972 |
|
|
|
Marketing and Publicity Expenses |
0.000 |
0.000 |
748.459 |
|
|
|
TOTAL (B) |
3690.718 |
3628.488 |
2583.625 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3301.792 |
2913.991 |
1859.911 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3301.792 |
2913.991 |
1859.911 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.949 |
121.504 |
91.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
3192.843 |
2792.487 |
1768.594 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
580.109 |
841.232 |
439.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2612.734 |
1951.255 |
1329.454 |
|
|
|
|
|
|
|
|
|
|
AMOUNT TRANSFERRED
RESERVES |
0.000 |
11.547 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5266.100 |
3303.298 |
1973.844 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
|
|
|
|
Dividend |
2137.107 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5741.727 |
5266.100 |
3303.298 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
PMS Advisory Fees |
9.296 |
0.000 |
0.000 |
|
|
|
Interest income |
2.496 |
1.938 |
1.569 |
|
|
TOTAL EARNINGS |
11.792 |
1.938 |
1.569 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
248.59 |
185.66 |
126.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
37.36
|
29.82 |
29.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
50.93
|
45.65 |
46.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
82.86
|
334.45 |
244.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.27 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28
|
0.17 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
0.34 |
0.82 |
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 |
1130.390
|
1679.951 |
409.323 |
|
Sundry Creditors |
1130.390
|
1679.951 |
409.323 |
|
|
|
|
|
|
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 |
No |
|
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
NOTE: The registered office of the company has
been shifted from Reliance House, Near Mardia Plaza, Off C G Road, Ahmedabad -
380006, Gujarat, India to the present address w.e.f. 23.07.2011
BACKGROUND
The Company
was incorporated on 24 February 1995. The principal shareholder of the Company
as at 31 March 2010 is Reliance Capital Limited.
The
Company's principal activity is to act as an investment manager to Reliance
Mutual Fund ( the Fund'), to provide Portfolio Management Services ('PMS') to
clients under Securities and Exchange Board of India (SEBI) (Portfolio
Managers) Regulations, 1993 The Company is registered with SEBI under the SEBI
(Mutual Funds) Regulations, 1996 The Company manages the investment portfolios
of the Fund and provides various administrative services to the Fund as laid
down in the Investment Management Agreement dated 12 August 1997.
FUTURE OUTLOOK
The Indian Mutual
Fund industry is one of the fastest growing industries in the financial
services sector with 38 AMCs currently operating in the country. The industry
AAUM has grown at a CAGR of 25% since 1965 and at a CAGR of 32% in the last
three years, with Rs. 7005370.000 Millions of average assets as on March 31,
2011.
The Company
intends to aggressively pursue growth opportunities in the mutual fund industry
both domestic and international and therefore be the most preferred investment
choice for investors. The Company expects that an emerging market like India
would experience a sustained higher growth rate. Given the country’s high
household savings rate along with the current low levels of investments by
retail investors where only less than 3% of the household savings is channeled
into capital markets, your Company believes that the Mutual Fund Industry is
still in a nascent stage and has a huge opportunity for growth and expansion.
Being a market leader, the Company will continue investing in growing the
market size, achieving product innovation, educating the investors, increasing
the distribution reach, enhancing customer service infrastructure with
aggressive expansion strategies.
During the
forthcoming year, the PMS division of the Company intends to venture into
rendering of advisory services in the Real Estate space.
The Hon’ble
Finance Minister of India, Mr. Pranab Mukherjee, in the Finance Act 2011, has
allowed foreign investors** to directly invest in the equity mutual fund
schemes of mutual funds registered with the SEBI. While the detailed guidelines
on the aforesaid proposal are awaited, it will open up the market to foreign
investors (including foreign nationals) in the equity markets of the country.
The development is also positive from the Indian capital market perspective as
it will become much more broad based.
**At present, only
foreign institutional investors and sub-accounts registered with the SEBI and
non-resident Indians are allowed to invest in mutual fund schemes.
CONTINGENT LIABILITIES:
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Guarantees to Banks and Financial Institutions |
6.605 |
6.613 |
|
Claims against the Company not acknowledged as debts |
4.046 |
0.000 |
|
Estimated amount
of contracts remaining to be executed on capital account and not provided for
(net of advances of Rs. 5.624 Millions and previous year Rs. 6.596 Millions) |
14.784 |
7.711 |
|
Income tax demand not acknowledged as debts |
10.682 |
0.000 |
FIXED ASSETS:
Tangible assets:
Ř
Computer
Ř
Motor Car
Ř
Office Equipment
Ř
Furniture
Ř
Leasehold improvements
Intangible assets:
Ř
Software
WEBSITE DETAILS
MEDIA RELEASE
Q2 CONSOLIDATED NET PROFIT ROSE TO
RS. 4010.000 MILLIONS (US$ 73 MILLION) AN INCREASE OF 1,100%
Q2 CONSOLIDATED TOTAL INCOME OF RS.
24370.000 MILLIONS (US$ 441 MILLION) AN INCREASE OF 55%
NET WORTH OF RS.
117120.000 MILLIONS (US$ 2.2 BILLION)
- YOY GROWTH OF 49% RANKS No. 1 AMONGST INDIAN FINANCIAL SERVICES COMPANIES
NET DEBT TO EQUITY
IMPROVED TO 1.67 FROM 2.57 AT THE END OF Q2 FY12
TOTAL ASSETS OF
RS. 390070.000 MILLIONS (US$ 7.4 BILLION)
- INCREASE OF 16% Q2 CONSOLIDATED PROFIT BEFORE TAX WAS RS. 543 CRORE (US$ 98
MILLION) AN INCREASE OF 650%
BUSINESSES
RCAM MANAGED RS. 1,552.140 MILLIONS
(US$ 28.1 BILLION), ACROSS MUTUAL FUNDS, PENSION FUNDS, MANAGED ACCOUNTS AND
HEDGE FUNDS
RCAM Q2 PROFIT BEFORE TAX AT RS.
580.000 MILLIONS (US$ 10 MILLION) AGAINST PROFIT OF RS. 660.000 MILLIONS IN Q2
FY12
RELIANCE LIFE INSURANCE - PROFIT OF
RS. 310.000 MILLIONS (US$ 6 MILLION) AGAINST PROFIT OF RS. 8 CRORE IN Q2 FY12 -
UP 276%
RELIANCE LIFE INSURANCE - FURTHER
SURPLUS ARISING FROM NON-PARTICIPATING BUSINESS AT RS. 1050.000 MILLIONS (US$
19 MILLION) IN Q2 FY13
RELIANCE LIFE INSURANCE - TOTAL FUNDS
UNDER MANAGEMENT AT RS. 194170.000 MILLIONS (US$ 3.7 BILLION) - UP 16%
RELIANCE COMMERCIAL FINANCE - ASSETS
UNDER MANAGEMENT AT RS. 156300.000 MILLIONS (US$ 3.0 BILLION) - UP 4%
RELIANCE COMMERCIAL FINANCE - PROFIT
AT RS. 720.000 MILLIONS (US$ 13 MILLION) - UP 31%, DRIVEN BY HIGHER YIELDS
RELIANCE GENERAL INSURANCE - GROSS
WRITTEN PREMIUM AT RS. 4900.000 MILLIONS (US$ 89 MILLION) - UP 31%
Mumbai, November 6, 2012: Reliance Capital Limited (RCL) today announced its
financial results for the quarter ended September 30, 2012. The performance
highlights are:
Consolidated - Quarter ended September 30, 2012
Q2 FY13 Total income of Rs. 24370.000 Millions (US$ 441 million), against
Rs. 15730.000 Millions in the corresponding previous period - an
increase of 55%, driven by increase in topline of Commercial Finance and gains accrued from the
stake sale in Reliance Capital Asset Management
Q2 FY13 Consolidated Net profit of Rs. 4010.000 Millions (US$ 73
million), against profit of Rs. 330.000 Millions in the corresponding
previous period
Q2 FY13 Consolidated Profit before tax was Rs. 5430.000
Millions (US$ 98 million), against
profit before tax of Rs. 720.000 Millions in the corresponding previous
period
Q2 FY13 Earnings per share of Rs. 16.27 (US$ 0.29) as against EPS of Rs.
1.36 in the corresponding previous period
Net worth: As on September 30, 2012, the net worth of the Company
stood at Rs. 117120.000 Millions (US$ 2.2 billion) - an increase of 49%.
The company ranks No. 1 amongst Indian financial services
companies in terms of net worth.
Credit Rating:
The Company’s net debt equity ratio improved to 1.67 as on September 30, 2012, as against
2.57 as on September 30, 2011. It enjoys the highest ratings of ‘A1+’
by ICRA and CRISIL, for its short term borrowing program and ‘CARE AAA’
by CARE for its long term borrowing program.
Operational Review:
As on September 30, 2012, the total assets of the Company
stood at Rs. 390070.000 Millions (US$ 7.4 billion) - an increase of 16%.
The investment portfolio of listed equities as on September
30, 2012, amounted to Rs. 14740.000 Millions (US$ 280 million), at cost.
The Company has not raised any fixed deposits from the
public.
Group Companies:
Reliance Capital Asset Management
Ř Reliance Mutual Fund
Reliance Capital Asset Management
(RCAM) managed Rs. 1552.140 Millions (US$ 28.1 billion) as on September
30, 2012, across mutual funds, pension funds, managed accounts and hedge funds
Ř Reliance Mutual Fund (RMF) is among the top two mutual
funds in India, in terms of AUM, with market share of 12%
Ř The average assets under
management (AAUM) of RMF, for the period ended September 30, 2012 stood at Rs.
86,327 crore (US$ 15.6 billion)
Ř The Systematic Investment Plan (SIP)
and Systematic Transfer Plan (STP) investor accounts stood at 1.44 Million - the highest in the industry
Ř The unique retail Gold Savings Fund
launched by RMF in February 2011, garnered nearly Rs. 29000.000 Millions
(US$ 525 million) in AAUMs for the quarter ended September 30, 2012, a YoY
increase of 51%, capturing a healthy market share of 27% in the gold
fund category
Ř RMF had a wide distribution network
with 235 branches across India, as on September 30, 2012
Ř As on September 30, 2012, there were
total of 43 schemes comprising 21 equity oriented schemes, 19 debt
oriented schemes, 2 exchange traded funds and 1 Fund of funds
Ř RCAM’s income from its operations
was Rs. 1600.000 Millions (US$ 29 million) for the quarter ended September
30, 2012, as against Rs. 1630.000 Millions for the corresponding
previous period - a decrease of 2%
Ř The profit before tax of RCAM was
Rs. 580.000 Millions (US$ 10 million) for the quarter ended September 30,
2012, a decrease of 12% over the corresponding previous period, as MF AAUMs
fell by 5%, in line with the diminution in the industry
Reliance Life Insurance
Ř Reliance Life Insurance (RLI) is
amongst the leading private sector life insurance companies in terms of new
business premium with a market share of 4.8% of the private sector life
insurance industry
Ř The Total Premium (net of
reinsurance) was Rs. 10030.000 Millions (US$ 182 million) for the
quarter ended September 30, 2012
Ř RLI achieved a profit of Rs.
310.000 Millions (US$ 6 million) for the quarter ended September 30, 2012, an
increase of 276% over the corresponding previous period. The declared results
of Reliance Capital include consolidation of 38% stake in Reliance Life
Insurance
Ř The total funds under management, as
on September 30, 2012, stood at Rs. 194170.000 Millions (US$ 3.7 billion),
an increase of 16%
Ř The distribution network stood at 1,230 offices as on
September 30, 2012, while the number of agents were approximately 1,16,000
Reliance General Insurance
Ř Reliance General Insurance (RGI)
offers insurance solutions for auto, health, home, property, travel, marine,
commercial and other speciality products
Ř RGI is amongst the leading private
sector general insurance companies in India. It has a private sector market
share of 8%, in terms of gross written premium, of the Indian private
sector general insurance industry
Ř The Gross Written Premium for
the quarter ended September 30, 2012 was Rs. 4900.000 Millions (US$ 89
million) as against Rs. 3730.000 Millions for the quarter ended
September 30, 2011
Ř The Loss for the quarter was Rs.
1050.000 Millions (US$ 19 million), as the full impact of the FY13
provisioning for the third party motor claims reserves has been taken in this
quarter
Ř The total capital invested in
the business, is Rs. 17470.000 Millions (US$ 332 million)
Ř At the end of June 30, 2012, the investment
book stood at Rs. 31060.000 Millions (US$ 589 million), an increase of
36%
Ř RGI had a distribution network of
131 branches and over 8,700 intermediaries, as on September 30, 2012
Reliance Commercial Finance
Ř Reliance Commercial Finance (RCF)
offers a wide range of products which include Home loans, Loans against
property, SME loans, Vehicle loans, Loans for Construction equipment, and
Infrastructure financing
Ř RCF is amongst the leading lenders in
the Indian non banking finance space. The focus in this business continues to
be on asset backed lending and productive asset creation. As on September 30,
2012, nearly 100% of the loan book was secured, as against 99% as
on September 30, 2011
Ř The disbursements for the
quarter ended September 30, 2012 were Rs. 22820.000 Millions (US$ 413
million) as against Rs. 23440.000 Millions for corresponding
previous period
Ř As on September 30, 2012, the assets
under management (including securitized portfolio) was Rs. 156300.000
Millions (US$ 3.0 billion) as against Rs. 150350.000 Millions as on
September 30, 2011, an increase of 4%
Ř The outstanding loan book as
on September 30, 2012 was at Rs. 141450.000 Millions (US$ 2.7 billion),
against Rs. 139270.000 Millions as on September 30, 2011, an increase
of 2%. This loan book is spread across nearly 78,500 customers from
top 18 Indian metros
Ř The total income for the quarter
ended September 30, 2012 was Rs. 5340.000 Millions (US$ 97 million) as
against Rs. 4980.000 Millions for the corresponding previous period, an
increase of 7%
Ř RCF achieved a profit before tax of
Rs. 720.000 Millions (US$ 13 million) for the quarter, as against Rs. 550.000
Millions for the corresponding previous period, an increase of 31%,
driven by higher yields
Broking businesses
Ř Reliance Capital’s broking business
consists of Reliance Securities, one of the leading retail broking houses in
India, that provides retail customers with access to equities, equity options,
wealth management, mutual funds, IPOs and investment banking, and Quant
Capital, which caters to the wholesale client segment, including foreign and
domestic institutions, corporations and ultra high net worth individuals
Ř The key focus is on the business
verticals of broking, wealth management and investment banking
Ř In equity broking, as on
September 30, 2012, the business had 7,00,000 broking accounts, an increase
of 4%, with an average daily equities turnover of Rs. 24910.000 Millions
(US$ 451 million), an increase of 7%
Ř In commodity broking, as on
September 30, 2012, the commodity broking accounts increased by 2% to
nearly 37,500, with an average daily commodities turnover at Rs.
11400.000 Millions (US$ 206 million), an increase of 44%
Ř In wealth management, the AUMs
as on September 30, 2012 increased to Rs. 7040.000 Millions (US$ 134
million), an increase of 116%
Ř The business had revenues of Rs.
650.000 Millions (US$ 12 million) for the quarter ended September 30, 2012,
an increase of 12%
Ř Profit before tax stood at Rs. 100.000 Millions (US$
2 million) for the quarter ended September 30, 2012, as against a loss of
Rs. 30.000 Millions for the
corresponding previous period
Distribution business
Ř The distribution business of Reliance
Capital, branded as ‘Reliance Money’ is a comprehensive financial
services and solutions provider, providing customers with access to mutual
funds, insurance products, gold coins, money transfer and currency exchange
Ř Reliance Money is amongst the leading
domestic distributors of financial products with a pan India presence with
over 6,350 outlets
Ř In the gold coin business,
through its pan India presence, Reliance Money has sold over 200 kgs. of gold
in Q2 FY13
Ř Reliance Money, largest private
sector partner for Western Union Money Transfer handled nearly 6 lakh
money transfer transactions during the quarter
Ř The business generated revenues of
Rs. 280.000 Millions (US$ 5 million) for the quarter ended September 30,
2012, as against Rs. 220.000 Millions for the corresponding previous
period, an increase of 31%
Shareholding Pattern as on September 30, 2012:
|
Category |
No. of Shares |
Shareholding (%) |
|
Promoters |
132,982,272 |
54.1% |
|
Foreign Investors - FIIs, NRIs and others |
53,139,672 |
21.6% |
|
Domestic institutions/ Banks / Mutual Funds |
13,940,277 |
5.7% |
|
Indian Public |
45,570,579 |
18.6% |
|
TOTAL - 1.2 million shareholders |
245,632,800 |
100.0% |
Background:
Reliance Capital, a part of the Reliance Group, is one of India’s
leading private sector financial services companies. It ranks amongst the top
four private sector financial services and banking groups, in terms of net worth.
The company is a constituent of CNX Nifty Junior and MSCI India. Reliance Group
is amongst India’s leading business houses with over 230 million customers. The
Group has a strong presence across a wide array of high growth consumer-facing
businesses of financial services, telecom, energy, power, infrastructure and
media and entertainment. Reliance Capital has interests in asset management and
mutual funds; life and general insurance; commercial and home finance; stock
broking; investment banking; wealth management services; distribution of
financial products; exchanges; private equity; asset reconstruction;
proprietary investments and other activities in financial services.
RELIANCE CAPITAL ASSET MANAGEMENT FORMS DISTRIBUTION TIE-UP WITH INDIAN
OVERSEAS BANK
INDIAN OVERSEAS BANK TO DISTRIBUTE RELIANCE MUTUAL FUND SCHEMES TO ITS
24 MILLION CUSTOMERS ACROSS INDIA
RELIANCE MUTUAL FUND SCHEMES TO BE SOLD ACROSS 2,689 INDIAN OVERSEAS
BANK BRANCHES IN INDIA
TIE-UP TO FOCUS ON REACHING OUT TO BANK CUSTOMERS IN TIER II AND III
CITIES
RELIANCE TO FACILITATE PRODUCT AND SOFT SKILLS TRAINING TO SUPPORT
DISTRIBUTION
Chennai, September
13, 2012: Reliance Capital Asset Management (RCAM), part of Reliance Capital
Limited, today announced a distribution tie-up with Indian Overseas Bank (IOB),
one of the leading nationalized banks in India.
This was announced
today by Mr. Sundeep Sikka, CEO, RCAM and Mr. M Narendra, Chairman and Managing
Director, Indian Overseas Bank, here today.
As per the
agreement, Indian Overseas Bank will be selling Reliance Mutual Fund schemes
through its 2,689 branches spread across the country.
“We are delighted
to join hands with Indian Overseas Bank as a distribution partner and are
confident that this agreement would help us expand our customer base,
especially in Tier II and III cities, leveraging on the wide network of Indian
Overseas Bank branches across the country’’ said Mr. Sikka.
RCAM will be
reaching out to over 24 million IOB customers across the country through this
initiative. The bank has a strong footprint in the Tier-I and Tier II cities, a
key focus for RCAM.
“Our continuous
effort is to provide one stop banking and investment solutions to our
customers. We are proud to be associated with Reliance Capital Asset Management.
This association will help us work together to enhance business opportunities.
This would enable the Indian Overseas Bank branches to operate as a financial
super market and help in strengthening the relationship of the existing and
potential customer base, providing an opportunity to cross-sell,’ said Mr. M
Narendra, Chairman and Managing Director, Indian Overseas Bank.
RCAM will provide
soft skills and product training support to the bank to help them effectively facilitate
sales across all IOB branches in the country, besides facilitating marketing
and promotional materials of all the MF schemes.
“We see a huge
untapped potential in the tier-1 and tier-2 cities in India. Our partnership
with banks will help us reach out to investors in smaller towns and cities and
facilitate the banks to offer a complete set of financial products to their
customers”, said Mr Sikka.
About Reliance
Capital Asset Management
www.reliancemutual.com
Reliance Capital
Asset Management Limited (RCAM) is the largest AMC, in terms of AUM, and most
profitable fund house in India. The company manages approximately Rs.
1400000.000 Millions (US$ 27.5 billion) across mutual funds, government, government
sponsored public funds, managed accounts and hedge funds.
RCAM is the only
AMC in India to have been chosen to manage both public funds sponsored by the
Indian government - the Provident Fund and Pension Fund.
The company offers
a well-rounded portfolio of products that meet varying requirements and
constantly endeavors to launch innovative products and customer service
initiatives to enhance value for its investors.
RCAM is part of Reliance Capital, one of
India’s largest financial services companies with over 20 million customers.
About Indian
Overseas Bank
www.IndianOverseasbank.in
Indian Overseas
Bank is one of the leading Public Sector Banks having pan India presence. The
Bank was established in 1925 and was nationalized in July 1969. The Bank got
listed on Stock Exchanges in India in the year 1999. Further dilution in
ownership was done through a Follow-on Public Offer (FPO) in 2005. Currently
the Government of India (GoI) holding is at 66.47%.
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 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. 55.34 |
|
|
1 |
Rs. 88.30 |
|
Euro |
1 |
Rs. 71.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
63 |
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.