MIRA
INFORM REPORT
|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADITYA BIRLA MONEY MART LIMITED (w.e.f. 01.02.2010) |
|
|
|
|
Formerly Known
As : |
BIRLA SUN LIFE DISTRIBUTION COMPANY LIMITED |
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Registered
Office : |
Indian Rayon Compound, Veraval, Gujarat - 362266 |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.06.1997 |
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Com. Reg. No.: |
04-062406 |
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Capital
Investment / Paid-up Capital : |
Rs.1200.000 millions |
|
|
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|
CIN No.: [Company
Identification No.] |
U61190GJ1997PLC062406 |
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|
PAN No.: [Permanent
Account No.] |
AAACB8843M |
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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 denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 111000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Aditya Birla Nuvo Limited. It is a
established company having moderate track record. As per last available
financials there appears huge accumulated losses recorded by the company. However,
trade relations are reported to be fair. Business is active. Payments are
slow. In view of strong holding company can be considered for business
dealing with some caution. |
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 DECLINED
Management Non Co-Operative
LOCATIONS
|
Registered Office : |
Indian Rayon Compound, Veraval, Gujarat – 362266, India |
|
Tel. No. : |
91-2876-248895 |
|
Fax No. : |
91-2876-243220 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
One Indiabulls Centre, Tower-1, 14th Floor, 841, S.B. Marg,
Elphinstone Road, Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-43568300 |
|
Fax No.: |
91-22-43568310 |
DIRECTORS
As on 30.08.2012
|
Name : |
Mr. Bishwanath Mangilal Puranmalka |
|
Designation : |
Director |
|
Address : |
Antariksha Appartments, Flat No. 182, 95/96, Kakasaheb Gadgil Road,
Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1935 |
|
Date of Appointment : |
28.07.1998 |
|
DIN No.: |
00007432 |
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|
|
|
Name : |
Mr. Ajay Srinivasan |
|
Designation : |
Director |
|
Address : |
91/101, Narain Terraces, 7th, 8th Floor, Union
Park Road, Pali Hill, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1963 |
|
Date of Appointment : |
31.07.2007 |
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DIN No.: |
00121181 |
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Name : |
Mr. Pankaj Jawaharlal Razdan |
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Designation : |
Director |
|
Address : |
Sherwin Ark, Bunglow#3, Bellscot Tower, Opposite Kamath Club,
Lokhandwala Complex, Andheri (West), Mumbai-400058, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1968 |
|
Date of Appointment : |
23.05.2008 |
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DIN No.: |
00061240 |
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|
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Name : |
Mr. Sushil Agarwal |
|
Designation : |
Director |
|
Address : |
Ocean C.H.S Limited, 301, Ocean View Union Park, Khar West,
Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
13.06.1963 |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
00060017 |
KEY EXECUTIVES
|
Name : |
Mr. Abhijit Prabhakar Sanzgiri |
|
Designation : |
Manager |
|
Address : |
C-506, Wing ‘C’, Udyan-III, Co-Op Housing Limited, Udyan Complex, Off.
Military Road, Sakinaka, Mumbai-400072, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1978 |
|
Date of Appointment : |
01.07.2011 |
|
PAN No.: |
AABPS3172Q |
|
|
|
|
Name : |
Mr. Amber Gupta |
|
Designation : |
Secretary |
|
Address : |
C-506, Wing ‘C’, Udyan-III, Co-Op Housing Limited, Udyan Complex, Off.
Military Road, Sakinaka, Mumbai-400072, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1978 |
|
Date of Appointment : |
07.07.2008 |
|
PAN No.: |
AENPG6177P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2012
|
Names of Shareholders |
|
No. of Equity Shares |
|
Aditya Birla Financial Services Private Limited, India |
|
19999994 |
|
Aditya Birla Financial Services Private Limited Jointly with ABNL
Investment Limited, India |
|
1 |
|
Aditya Birla Financial Services Private Limited Jointly with Devendra
Bhandari |
|
1 |
|
Aditya Birla Financial Services Private Limited Jointly with Manoj
Shah |
|
1 |
|
Aditya Birla Financial Services Private Limited Jointly with Sudhir
Maheshwari, |
|
1 |
|
Aditya Birla Financial Services Private Limited Jointly with S.S.
Pareek, |
|
1 |
|
Aditya Birla Financial Services Private Limited Jointly with Anupam
Gupta |
|
1 |
|
Total |
|
20000000 |
|
Names of Shareholders |
|
No. of Preference Shares |
|
Aditya Birla Financial Services Private Limited, India |
|
100000000 |
|
Total |
|
100000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.08.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Financial Services. |
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Product/ Services: |
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GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
Scheduled Banks |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
Haribhakti and Company
Chartered Accountants,701, Leela Business Park, Andheri Kurla Road, Andheri
(East), Mumbai-400059, Maharashtra, India |
|
PAN No.: |
AAAFH2010F |
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|
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|
Holding company: |
Aditya Birla
Financial Services Private Limited PAN No.: AAGCA5936J CIN No.:U67120GJ2007PTC058890 Aditya Birla
Nuvo Limited CIN No.: L17199GJ1956PLC001107 |
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|
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Related Parties: |
Aditya Birla
Finance Limited PAN No.: AABCB5769M CIN No.: U65990GJ1991PLC064603 Aditya Birla
Financial Shared Services Limited PAN No.: AAHCA1581A CIN No.: U65999MH2008PLC183695 ADITYA BIRLA
INSURANCE BROKERS LIMITED PAN No.: AABCB8091L CIN No.: U99999GJ2001PLC062239 Aditya Birla
Minacs IT services Limited PAN No.: AAACP6092N CIN No.: U72200KA1976PLC027564 Birla Sun Life Insurance
Company Limited PAN No.: AABCB4623J CIN No.: U99999MH2000PLC128110 Aditya Birla
Money Limited PAN No.: AAACA7472K CIN No.: L65993GJ1995PLC064810 Aditya Birla
Commodities Broking Limited PAN No.: AAECA5414F CIN No.: U51501GJ2003PLC065196 ABNL Investment
Limited PAN No.: AAACL2757J CIN No.: U65910GJ1994PLC022685 |
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Ultimate Holding
company: |
Aditya Birla
Nuvo limited PAN No.: AAACI1747H CIN No.: L17199GJ1956PLC001107 |
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Subsidiary
company: |
Aditya Birla Money
Insurance Advisory Services Limited PAN No.: AABCB6777H CIN No.: U66030GJ2001PLC062240 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs. 10 each |
Rs.250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10 each |
Rs.200.000
millions |
Footnotes
(A) All the Equity Shares are held by the Holding Company, Aditya Birla
Financial Services Private Limited.
(B) It consists of 20,000,000 shares Equity Shares held by Aditya Birla
Nuvo Limited.
AS ON 03.08.2012
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
100000000 |
Preference Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
Total |
|
Rs.1250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.0000 Millions |
|
100000000 |
Preference Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
Total |
|
Rs.1200.000
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 |
200.000 |
200.000 |
71.749 |
|
|
2] Share Application Money |
1000.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
28.250 |
38.372 |
38.372 |
|
|
4] (Accumulated Losses) |
(1190.414) |
(164.289) |
(62.280) |
|
|
NETWORTH |
27.836 |
74.083 |
47.841 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
221.300 |
80.000 |
91.000 |
|
|
TOTAL BORROWING |
221.300 |
80.000 |
91.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
259.136 |
154.083 |
138.841 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.203 |
58.021 |
46.431 |
|
|
Capital work-in-progress |
0.000 |
0.228 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.900 |
4.902 |
20.400 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
64.819
|
81.000
|
40.843 |
|
|
Cash & Bank Balances |
29.582
|
11.383
|
5.784 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
267.453
|
137.003
|
88.872 |
|
Total
Current Assets |
361.854
|
229.386
|
135.499 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
107.874
|
108.066
|
44.367 |
|
|
Other Current Liabilities |
47.729
|
24.902
|
14.491 |
|
|
Provisions |
2.218
|
5.486
|
4.631 |
|
Total
Current Liabilities |
157.821
|
138.454
|
63.489 |
|
|
Net Current Assets |
204.033
|
90.932
|
72.010 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
259.136 |
154.083 |
138.841 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
641.457 |
528.202 |
223.028 |
|
|
|
Other Income |
3.091 |
5.005 |
10.263 |
|
|
|
TOTAL (A) |
644.548 |
533.207 |
233.291 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee related expenses |
318.192 |
|
344.239 |
|
|
|
Administrative selling other expenses |
348.056 |
338.478 |
|
|
|
|
Research development expenditure |
1.077 |
0.667 |
|
|
|
|
Exceptional Income Expenses |
973.219 |
0.000 |
|
|
|
|
TOTAL (B) |
1640.544 |
612.748 |
344.239 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(995.996) |
(79.541) |
(75.871) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.316 |
9.661 |
1.552 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1023.312) |
(89.202) |
(77.423) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.718 |
12.807 |
12.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(1036.030) |
(102.009) |
(89.665) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.217 |
0.000 |
1.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(1036.247) |
(102.009) |
(91.210) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(164.289) |
(62.280) |
28.929 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
(10.122) |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
(1190.414) |
(164.289) |
(62.281) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(51.81) |
(6.60) |
(12.71) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(160.77)
|
(19.13)
|
(39.09) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(161.51)
|
(19.31)
|
(40.20) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(251.43)
|
(35.49)
|
(49.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(37.22)
|
(1.38)
|
(1.87) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
13.62
|
2.95
|
3.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.29
|
1.66
|
2.13 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
107.874
|
108.066
|
44.367 |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
Yes |
|
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:
Registered office of the company has been shifted from One India Bulls Centre, Tower 1, 14 Floor, Jupiter Mill Compund, 841 Senapati Bapat marg, Elphinstone Road, Mumbai 400013, Maharashtra, India to the present address w.e.f. 04.08.2010
COMPANY PERFORMANCE
The Company
achieved gross revenue of Rs. 644.550 Millions during the year as against the
gross revenue of Rs. 533.210 Millions during the previous year, an increase of
20.88%. The total loss before depreciation and tax was Rs. 50.091 Millions as
against a loss of Rs. 89.200 Millions in previous year. During the year, the
company incurred one time exceptional loss of Rs. 973.218 Millions on account
of certain trades of it's clients, which was provided in the books of account.
As a result, the loss after tax (after exception item) was at Rs. 1036.246
Millions against a loss of Rs. 102.010 Millions in the previous year.
The Company
diversified into distribution of various other asset classes of financial
products and expanded its range of product offering for its client, from
traditionally mutual fund to broking, fixed deposits, real estate, alternate
assets. During the year, The Company mobilized aggregate funds under different
asset classes to the tune of Rs. 2762 billion. The Assets Under Advice (AUA) as
at March 31, 2011 was Rs. 138.61 billion as against Rs. 163.87 billion last
year. The market share of the Company’s average AUA stood at 2.34%, which makes
it second largest Corporate Distributors in terms of Closing AUA as on 31st
March 2011 (as per CAMS report).
SHIFTING OF REGISTERED OFFICE
The registered
office of the Company was shifted from State of Maharashtra (One Indiabulls
Centre, Tower-1, 14th floor, Jupiter Mill Compound, 841, Senapati Bapat Marg,
Elphinstone Road, Mumbai - 400 013) to State of Gujarat (Indian Rayon Compound,
Veraval, Gujarat – 362266), in terms of Company Law Board order dated 4th
August, 2010. The Registrar of Companies, Gujarat issued certificate of
registration under section 18(3) of the Companies Act, 1956 on 24th September,
2010.
SUBSIDIARY COMPANY
The Company’s
wholly owned subsidiary - Aditya Birla Money Insurance Advisory Services
Limited (ABMIAS), which is engaged in distribution of life insurance products
as a Corporate Agent of Birla Sun Life Insurance Company Limited, got its
corporate agency license renewed for a further period of 3 years w.e.f.
18.11.2010.
During the year,
ABMIAS posted total revenue of Rs. 94.556 Millions as against Rs. 102.237
Millions last year. The loss before tax was Rs. 108.527 Millions compared to
loss of Rs. 13.481 Millions in previous year.
ABMIAS continues
to increase its focus on growth and expansion in life insurance business and
tap the opportunities presented by this sector in significantly enhancing its
business volume.
PRESS REALEASE
Allahabad Bank and
Aditya Birla Money enter into a strategic tie-up
~Will provide
Allahabad Bank customers the convenience of investing
in financial
products online~
~ Will enable
Aditya Birla Money to tap Allahabad Bank’s 27 million
customer base ~
Kolkata, October 15, 2011: Allahabad Bank, the oldest joint stock bank in India with a customer base
of 27 million has entered into a strategic alliance with Aditya Birla Money,
the broking, wealth management and retail distribution arm of Aditya Birla
Financial Services Group (ABFSG). A Memorandum of Understanding (MoU) to this
effect was signed by Sri M.R. Nayak, Executive Director, Allahabad Bank and Mr.
Sudhakar Ramasubramanian, MD, Aditya Birla Money on October 15, 2011 at
Kolkata.
Under the backdrop
of growing financial services opportunity and the increasing surge in internet
penetration levels, this tie up serves as a win-win proposition for both
partners. With online trading gaining significant momentum, this strategic
tie-up will enable Aditya Birla Money (ABM) to tap the 27 million customer base
of Allahabad Bank and provide them with online trading facilities.
Through this
tie-up Allahabad Bank will be able to extend its offerings beyond the realm of
traditional banking, creating significant value for their customers and
providing them a superior trading experience with seamless integration of
state-of-the-art technology. The bank’s account holders can benefit from Aditya
Birla Money’s single window interface to invest in equities, derivatives,
commodities and IPOs.
About Aditya Birla Money
Aditya Birla Money
is a single brand offering the combined products and services of Aditya Birla
Money Limited and Aditya Birla Money Mart Limited.
Aditya Birla Money
Limited is a broking and distribution player, offering Equity and Derivative
trading through NSE and BSE and Currency derivative on MCX-SX. It is registered
as Depository Participant with both NSDL and CDSL and also provides commodity
trading on MCX and NCDEX through its subsidiary company.
Aditya Birla Money
Mart Limited is a wealth management and distribution player, offering third
party products like company deposits, mutual funds, insurance, structured
products, alternate investments, property services and has a premier wealth
management service arm to cater to HNI customers.
These offerings
are delivered through a strong pan India distribution network of about 1000 own
and franchisee branches, a robust online and offline model with a strong
technology backbone to a large customer base, in excess of 4 lakhs.
About Aditya Birla Financial Services Group
(ABFSG) :
Aditya Birla
Financial Services Group (ABFSG) has built a significant presence across its
verticals, viz life insurance, asset management, NBFC, private equity, broking,
wealth management and distribution and general insurance advisory services.
The seven
companies representing Aditya Birla Financial Services Group are Birla Sun Life
Insurance Company Ltd., Birla Sun Life Asset Management Company Limited, Aditya
Birla Finance Limited, Aditya Birla Capital Advisors Private Limited, Aditya
Birla Money Limited, Aditya Birla Money Mart Limited and Aditya Birla Insurance
Brokers Limited ABFSG is committed to being a leader and role model in a broad
based and integrated financial services business. Its 7 lines of businesses,
with about 5.5 million customers manages assets worth Rs. 922590.000 Millions
(USD 20.5 billion) and prides itself for having a talent pool of about 15,000
committed employees. ABFSG has its wings spread across more than 500 cities in
India through over 1,700 points of presence and about 200,000 channel partners.
This allows ABFSG to offer its customers virtually anything under financial
services except a savings or current account. With over Rs. 62960.000 Millions
(FY2010-11) in revenues, ABFSG is a significant non-bank player.
ABFSG is a part of
Aditya Birla Nuvo Limited (ABNL), a USD 4 billion conglomerate having
leadership position across its manufacturing as well as services sector
businesses. ABNL is a part of the Aditya Birla Group, a USD 35 billion Indian
business house operating in 33 countries across the globe.
FIXED ASSETS:
- Trade Names
and Other Business Rights
- Computer
Softwares
- Leasehold
Improvements
- Computer
- Equipments
- 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 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 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.53.07 |
|
|
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
2 |
|
--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 |
|
26 |
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.