MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
HSBC INVESTDIRECT SECURITIES (INDIA) LIMITED (w.e.f 15.07.2009) |
|
|
|
|
Formerly Known
As : |
IL AND FS INVESTSMART SECURITIES LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.02.2006 |
|
|
|
|
Com. Reg. No.: |
11-159988 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1553.109
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120MH2006PLC159988 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI07259A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI4193G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Retail Broking Services. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of HSBC InvestDirect ( There appear accumulated losses recorded by the company. Profitability
of the company is under pressure. However, trade relations are fair. Payments
are reported to be usually correct and as per commitments. In view of strong holding, the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the outbreak
of the global financial crisis, the world economy continues to remain fragile.
The Indian economy demonstrated remarkable resilience in the initial years of
the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood opportunities
for the millions living in poverty as also the large contingent of young people
joining the job market every year.
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-COOPERATIVE (Tel. No.: 91-22-61872888)
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-67897777 / 61872888 / 61946600 |
|
Fax No.: |
91-22-61946699 / 67897968 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office 1 : |
HSBC Umang, Fifth Floor, Mind Space, |
|
|
|
|
Branch Office 2 : |
Also located at: |
DIRECTORS
As on 05.09.2012
|
Name : |
Mr. Sanjay Sankaran Nair |
|
Designation : |
Director |
|
Address : |
Flat No.72, 7th Floor, Blue Haven Co-operative Housing
Society Limited, Mt Pleasant Road, Malabar Hill, Mumbai – 40006, Maharashtra,
India |
|
Date of Birth/Age : |
12.04.1968 |
|
Qualification : |
B.Com, ACA, ICWA |
|
Date of Appointment : |
05.09.2012 |
|
DIN No. : |
00765215 |
|
|
|
|
Name : |
Mr. Dilip Balvantrai Mehta |
|
Designation : |
Director |
|
Address : |
B-204, Maitri Residence II CHS Limited, 90 Feet Road, Borsapada, Next
to Poinsur Gymkhana, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1969 |
|
Date of Appointment : |
05.09.2012 |
|
DIN No. : |
05265758 |
|
|
|
|
Name : |
Mr. Vipul Kirit Malkan |
|
Designation : |
Director |
|
Address : |
A/1203, 12th Floor, Bhoomi Samkit, Mahavir Nagar, Near Pancsheel
Garden, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Birth/Age : |
19.02.1975 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
05.09.2012 |
|
DIN No. : |
05158393 |
|
|
|
|
Name : |
Ms. Kashmira Joji Mathew |
|
Designation : |
Director |
|
Address : |
Flat No. G 1, |
|
Date of Birth/Age : |
14.12.1970 |
|
Qualification : |
B.Com, ACS |
|
Date of Appointment : |
18.02.2009 |
|
DIN No. : |
02341875 |
|
|
|
|
Name : |
Mr. Kapil Deepak Seth |
|
Designation : |
Director |
|
Address : |
B-61, Cozihom Co-Operative Housing Society, |
|
Date of Birth/Age : |
15.01.1974 |
|
Date of Appointment : |
13.09.2011 |
|
DIN No. : |
03596866 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Kumar Mishra |
|
Designation : |
Manager |
|
Address : |
Flat # 102, Kadambari Apartments, Plot #22, Sector 1, Sanpada (East),
Navi Mumbai – 400 705, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1977 |
|
Date of Appointment : |
01.04.2010 |
|
PAN No. : |
AHYPM1872F |
|
|
|
|
Name : |
Manisha Kapoor |
|
Designation : |
Secretary |
|
Address : |
Flat No. H 701, Green Woods, Andheri – Kurla Road, Chakala, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1976 |
|
Date of Appointment : |
28.06.2012 |
|
PAN No.: |
ARNPK0784F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
HSBC InvestDirect ( |
|
43310877 |
|
HSBC InvestDirect ( |
|
1 |
|
HSBC InvestDirect ( |
|
1 |
|
HSBC InvestDirect ( |
|
1 |
|
HSBC InvestDirect ( |
|
1 |
|
HSBC InvestDirect ( |
|
1 |
|
HSBC InvestDirect ( |
|
1 |
|
Total |
|
43310883 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
HSBC Securities and Capital Markets ( |
|
10700000 |
|
HSBC InvestDirect (India) Limited, India |
|
2500000 |
|
Total |
|
13200000 |
Allottees as on 10.05.2013
|
Names of Allottees |
|
No. of Shares |
|
HSBC InvestDirect ( |
|
4411764 |
|
HSBC Securities and Capital Markets ( |
|
5882352 |
|
Total |
|
10294116 |
As on 05.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Retail Broking Services. |
||||
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|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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|
|
||||||||||||
|
Bankers : |
Providing Retail Broking Services. |
||||||||||||
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|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
|
PAN No. : |
AAAFB9852F |
|
|
|
|
Holding Company : |
HSBC InvestDirect (India) Limited, India U67120MH1997PLC110386 |
|
|
|
|
Enterprises that
have Control over the Company : |
· HSBC Securities and Capital Markets (India) Private Limited HSBC Holdings Plc HSBC Finance (Netherland) HSBC Holdings BV HSBC Investment Bank Holdings BV HSBC Violet Investments (Mauritius) Limited The Hongkong and Shanghai Banking Corporation Limited,
Hongkong The Hongkong and Shanghai Banking Corporation Limited,
India HSBC Asia Holdings BV HSBC Asia Holdings, UK |
|
|
·
|
|
Fellow Subsidiaries
: |
· HSBC InvestDirect Academy for Insurance and Finance (India) Limited HSBC InvestDirect Distribution Services (India) Limited Investsmart Financial Services Limited |
CAPITAL STRUCTURE
After 05.09.2012
Authorised Capital : Rs. 1920.000 millions
Issued, Subscribed & Paid-up Capital : Rs. 1445.112 millions
As on 05.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Millions |
|
13200000 |
Preference Shares |
Rs.100/- each |
Rs. 1320.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1920.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43310883 |
Equity Shares |
Rs.10/- each |
Rs. 433.109 Millions |
|
13200000 |
Preference Shares |
Rs. 100/- each |
Rs. 1320.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1753.109
Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Millions |
|
13200000 |
Preference Shares |
Rs.100/- each |
Rs. 1320.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1920.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43310883 |
Equity Shares |
Rs.10/- each |
Rs. 433.109 Millions |
|
11200000 |
Preference Shares |
Rs. 100/- each |
Rs. 1120.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1553.109
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1553.109 |
1303.109 |
|
(b) Reserves & Surplus |
|
(1041.745) |
(497.448) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
511.364 |
805.661 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
13.089 |
22.769 |
|
(d) long-term provisions |
|
0.000 |
4.003 |
|
Total Non-current Liabilities (3) |
|
13.089 |
26.772 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1191.900 |
604.900 |
|
(b) Trade payables |
|
445.058 |
695.652 |
|
(c) Other current
liabilities |
|
77.825 |
106.765 |
|
(d) Short-term provisions |
|
19.932 |
33.913 |
|
Total Current Liabilities (4) |
|
1734.715 |
1441.230 |
|
|
|
|
|
|
TOTAL |
|
2259.168 |
2273.663 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
63.032 |
107.985 |
|
(ii) Intangible Assets |
|
161.550 |
201.410 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
68.222 |
71.123 |
|
(e) Other Non-current assets |
|
145.050 |
141.252 |
|
Total Non-Current Assets |
|
437.854 |
521.770 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
578.180 |
534.823 |
|
(d) Cash and cash
equivalents |
|
661.580 |
293.555 |
|
(e) Short-term loans and
advances |
|
546.477 |
894.613 |
|
(f) Other current assets |
|
35.077 |
28.902 |
|
Total Current Assets |
|
1821.314 |
1751.893 |
|
|
|
|
|
|
TOTAL |
|
2259.168 |
2273.663 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1252.327 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1001.672 |
|
|
4] (Accumulated Losses) |
|
|
(1502.774) |
|
|
NETWORTH |
|
|
751.225 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
200.000 |
|
|
2] Unsecured Loans |
|
|
434.900 |
|
|
TOTAL BORROWING |
|
|
634.900 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1386.125 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
389.604 |
|
|
Capital work-in-progress |
|
|
3.161 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
877.302
|
|
|
Cash & Bank Balances |
|
|
938.127
|
|
|
Other Current Assets |
|
|
36.846
|
|
|
Loans & Advances |
|
|
967.423
|
|
Total
Current Assets |
|
|
2819.698
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1643.239 |
|
|
Other Current Liabilities |
|
|
115.643
|
|
|
Provisions |
|
|
67.456
|
|
Total
Current Liabilities |
|
|
1826.338
|
|
|
Net Current Assets |
|
|
993.360
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1386.125 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
665.144 |
1003.153 |
1212.532 |
|
|
|
Other Income |
1.080 |
4.513 |
1.574 |
|
|
|
TOTAL (A) |
666.224 |
1007.666 |
1214.106 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
491.063 |
|
|
|
|
|
Other expenses |
530.492 |
710.044 |
|
|
|
|
TOTAL (B) |
1021.555 |
1360.852 |
1488.553 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(355.331) |
(353.186) |
(274.447) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
93.417 |
90.064 |
61.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(448.748) |
(443.250) |
(335.679) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
95.549 |
151.705 |
156.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(544.297) |
(594.955) |
(492.344) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.609 |
0.539 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(544.297) |
(595.564) |
(492.883) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2098.338) |
(1502.774) |
(1009.891) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2642.635) |
(2098.338) |
(1502.774) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
(12.57) |
(15.23) |
(13.17) |
|
|
|
- Diluted |
(12.57) |
(15.23) |
(13.17) |
|
%20LIMITED%20-%20233120%2026-Aug-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(81.70)
|
(59.10) |
(40.60) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(81.83)
|
(59.31) |
(40.60) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.09)
|
(26.17) |
(15.34) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.06)
|
(0.74) |
(0.66) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.33
|
0.75 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.22 |
1.54 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
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 |
CURRENT MATURITIES OF
LONG TERM DEBTS : NOT AVAILABLE
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
NOTE
The registered office of the company has been shifted from HSBC Umang, Fifth
Floor, MindSpace Link Road, Malad (West), Mumbai – 400064, Maharashtra, India
to the present address w.e.f. 14.05.2012
UNSECURED LOANS
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
1091.900 |
604.900 |
|
Total |
1091.900 |
604.900
|
OPERATIONS AND
OUTLOOK FOR THE CURRENT YEAR
During the financial year 2011-12, HISL incurred net loss of Rs. 544.000 Mn. as against Rs. 595.000Mn. incurred in the previous year.
Revenues earned from Equity broking reduced by 35% from Rs. 719.5 Mn. during financial year 2010-11 to Rs. 468.9 Mn. during the financial year 2011-12 and income earned from distribution of financial products increased by 5% from Rs. 60.000 Mn. to Rs. 63.000 Mn. during the current year. The overall revenues from operations of business have fallen by 34% from Rs. 1003.000 Mn to Rs. 665.000 Mn.
HISL opened 17,677 new Trading accounts during the year taking the total customers base to 1,57,286 and also opened 11,050 Depository Participant accounts during the same period.
In order to develop centre of excellence in dealing, improved client engagement and providing segmented services, HISL has set up 10 Central Dealing Rooms (CDRs) across the country. In order to pilot the transition from a monoline retail broker to a preferred wealth management service provider for premium customers, HISL has set up 3 LITE Branches in Mumbai.
The LITE branch is a branch with no dealing set up and is a sales outlet which will focus on customer acquisition, sales of wealth products, sales and referrals of NBFC products, Mortgages.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Income Tax |
10.796 |
0.744 |
|
Legal and other matters |
10.796 |
6.108 |
|
Total |
21.592 |
6.852 |
FIXED ASSETS
v
Tangible Assets
· Furniture and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
v
Intangilble Assets
Goodwill
Brands
and Trade Marks
Computer
Software
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.64.69 |
|
|
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.