MIRA
INFORM REPORT
|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
DEWAN HOUSING FINANCE CORPORATION LIMITED |
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Registered
Office : |
Warden House 2nd Floor Sir P M Road, Fort, Mumbai – 400001,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of Incorporation
: |
11.04.1984 |
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Com. Reg. No.: |
11-032639 |
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Capital
Investment / Paid-up Capital : |
Rs.1282.200 Millions |
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CIN No.: [Company Identification
No.] |
L6591MH1984PLC032639 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The business of providing loans to retail customers for construction
or purchase of residential property and loans against property. |
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No. of Employees
: |
1736 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
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 |
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Maximum Credit Limit : |
USD 129480000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a one of the largest housing finance companies in india. It
is a well-established and reputed company having fine track record. The rating reflects DHFL’s long-standing track record in housing finance
business and expertise in catering to middle and lower-middle class segment,
proactive management, and comfortable capital adequacy with demonstrated
capital raising ability and comfortable profitability parameters. Directors are reported to be experienced and respectable businessmen. Trade relations are as fair. Business is active. Payments are reported
to be regular and as per commitments. The company can be considered good for normal business dealings at
usual tarde 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
September 04, 2013 |
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
MANAGEMENT NON CO-OPERATIVE (91-22-22029900)
LOCATIONS
|
Registered Office : |
Warden House 2nd Floor Sir P M Road, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No. : |
91-22-2287 1985 |
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Fax No. : |
91-22 -2287 1985 |
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E-Mail : |
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Website : |
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Corporate Office : |
HDIL Towers, 6th
Floor, Anant Kanekar Marg, Station Road, Bandra (East), Mumbai - 400 051,
Maharashtra, India |
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Tel. No. : |
91-22-2658 3333 (30 Lines) |
|
Fax No. : |
91-22-2658 33 44 |
DIRECTORS
As on 31.03.2013
|
Name : |
Shri Kapil Wadhawan |
|
Designation : |
Chairman and Managing Director |
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|
Name : |
Shri Dheeraj Wadhawan |
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Designation : |
Director |
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|
Name : |
Shri R. P. Khosla |
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Designation : |
Director |
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Name : |
Shri G. P. Kohli |
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Designation : |
Director |
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Name : |
Shri Anthony Hambro |
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Designation : |
Nominee Director |
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Name : |
Shri Ajay Vazirani |
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Designation : |
Director |
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Name : |
Shri V. K. Chopra |
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Designation : |
Director |
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Name : |
Shri M. Venugopalan |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Shri S. Y. Sankhe |
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Designation : |
Company Secretery |
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Audit Committee |
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Name : |
Shri G. P. Kohli |
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Designation : |
Chairman |
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Name : |
Shri V. K. Chopra |
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Designation : |
Member |
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Name : |
Shri M. Venugopalan |
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Designation : |
Member |
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Remuneration and Compensation Committee |
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Name : |
Shri R. P. Khosla |
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Designation : |
Chairman |
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Name : |
Shri G. P. Kohli |
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Designation : |
Member |
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Name : |
Shri V. K. Chopra |
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Designation : |
Member |
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Shareholders’ / Investors’ Grievance Committee |
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Name : |
Shri Ajay Vazirani |
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Designation : |
Chairman |
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Name : |
Shri Kapil Wadhawan |
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Designation : |
Member |
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Finance Committee |
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Name : |
Shri Kapil Wadhawan |
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Designation : |
Chairman |
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Name : |
Shri Dheeraj Wadhawan |
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Designation : |
Member |
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Name : |
Shri G. P. Kohli |
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Designation : |
Member |
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Corporate Social Responsibility Committee |
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|
Name : |
Shri G. P. Kohli |
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Designation : |
Chairman |
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|
|
Name : |
Shri V. K. Chopra |
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Designation : |
Member |
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|
Name : |
Shri Kapil Wadhawan |
|
Designation : |
Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
28562281 |
22.26 |
|
|
21836541 |
17.02 |
|
|
50398822 |
39.27 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
50398822 |
39.27 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
269883 |
0.21 |
|
|
438801 |
0.34 |
|
|
35961422 |
28.02 |
|
|
1309475 |
1.02 |
|
|
11421570 |
8.90 |
|
|
11421570 |
8.90 |
|
|
49401151 |
38.50 |
|
|
|
|
|
|
19666924 |
15.33 |
|
|
|
|
|
|
4583529 |
3.57 |
|
|
3935998 |
3.07 |
|
|
339843 |
0.26 |
|
|
147015 |
0.11 |
|
|
192828 |
0.15 |
|
|
28526294 |
22.23 |
|
Total Public shareholding (B) |
77927445 |
60.73 |
|
Total (A)+(B) |
128326267 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
128326267 |
0.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Name of the
Shareholder |
Details of
Shares held |
|
|
No. of Shares held |
As a % of grand total |
|
|
Kapil Wadhawan |
1,01,22,836 |
7.89 |
|
Dheeraj Wadhawan |
93,08,998 |
7.25 |
|
Aruna Wadhawan |
79,80,447 |
6.22 |
|
Pooja D Wadhawan |
11,50,000 |
0.90 |
|
Wadhawan Holdings Private Limited |
1,16,15,755 |
9.05 |
|
Wadhawan Consolidated Holdings Private Limited |
20,00,000 |
1.56 |
|
Wadhawan Retail Venture Private Limited |
20,00,000 |
1.56 |
|
Wadhawan Housing Private Limited |
62,20,786 |
4.85 |
|
Total |
5,03,98,822 |
39.27 |
(*) The term encumbrance has the same meaning as assigned to it in regulation
28(3) of the SAST Regulations, 2011.
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
Caledonia Investments PLC (FDI) |
11421570 |
8.90 |
|
|
Hemisphere Infrastructure India Private Limited |
5358889 |
4.18 |
|
|
HSBC Bank (Mauritius) Ltd A/c Jwalamukhi Investment Holdings |
5285879 |
4.12 |
|
|
Galaxy Infraprojects & Developers Private Limited |
5217702 |
4.07 |
|
|
Ironwood Investment Holdings |
5196581 |
4.05 |
|
|
Silicon First Realtors Private Limited |
5047781 |
3.93 |
|
|
Asiabridge Fund I LLC |
3571352 |
2.78 |
|
|
Government of Singapore |
2744238 |
2.14 |
|
|
Govt Pension Fund Global |
2201379 |
1.72 |
|
|
Wellington Trust Company National Association Multipe Common Trust |
1954249 |
1.52 |
|
|
Morgan Stanley Asia singapore |
1692570 |
1.32 |
|
|
Citigroup Global Markets Mauritius Private Limited |
1392491 |
1.09 |
|
|
Caledonia Investments PLC |
1398467 |
1.09 |
|
|
Monetary Autority of Singapore |
1361964 |
1.06 |
|
|
Amber 2010 Limited |
1309475 |
1.02 |
|
|
Total |
55154587 |
42.98 |
|
Shareholding of securities (including shares, warrants,
convertible securities) of persons (together with PAC) belonging to the
category “Public” and holding more than 5% of the total number of shares of the
company
|
Name(s) of the shareholder(s)
and the Persons Acting in Concert (PAC) with them |
No. of Shares |
% of Total No. of Shares |
|
|
Caledonia Investments PLC |
12820037 |
9.99 |
|
|
Total |
12820037 |
9.99 |
|
BUSINESS DETAILS
|
Line of Business : |
The business of providing loans to retail customers for construction
or purchase of residential property and loans against property. |
GENERAL INFORMATION
|
No. of Employees : |
1736 (Approximately) |
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Bankers : |
Ø
Allahabad Bank Ø
Andhra Bank Ø
Axis Bank Limited Ø
Bank of Baroda Ø
Bank of India Ø
Bank of Maharashtra Ø
Canara Bank Ø
Central Bank of India Ø
Corporation Bank Ø
Dena Bank Ø
Deutsche Bank Ø
Federal Bank Limited Ø
H D F C Bank Limited Ø
I N G Vysya Bank Limited Ø
ICICI Bank Limited Ø
IDBI Limited Ø
Indian Bank Ø
Indian Overseas Bank Ø Karur Vysya Bank
Limited Ø
Kotak Mahindra Bank Limited Ø
Oriental Bank of Commerce Ø
Punjab & Sind Bank Ø
Punjab National Bank Ø
South Indian Bank Limited Ø
State Bank of Bikaner and Jaipur Ø
State Bank of Hyderabad Ø
State Bank of India Ø
State Bank of Mysore Ø
State Bank of Patiala Ø
State Bank of Travancore Ø
Standard Chartered Bank Ø
Syndicate Bank Ø
UCO Bank Ø
Union Bank of India Ø
United Bank of India Ø
Vijaya Bank Ø YES Bank Limited |
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Facilities : |
NOTE: LONG TERM
BORROWINGS 1.
Non Convertible Debentures (NCD) (current and non
current portion) amounting to Rs. 34639.900 millions(Rs. 18502.000 lacs) are secured
by way of first charge read with Note 5.2 herein below and are redeemable at
par, in one or more instalments, on various dates, between June, 2013 and
December, 2022. Secured NCDs
also include amount outstanding for Zero Coupon Secured Redeemable Non-Convertible
Debentures (ZCD) aggregating to Rs. 799.600 millions(Rs. Nil), including Rs.
586.900 millions(Rs. Nil) of the amalgamating company read with note 5.3,
which are redeemable at premium on maturity. The accumulated premium payable
on outstanding ZCD accrued till 31st March, 2013 amounting to Rs. 75.600
millionsis included above and has been provided out of the securities premium
account 2.
All Secured loans (Current and Non Current
portion), from the National Housing Bank, other Banks, Asian Development
Bank, Financial Institutions and Secured Non Convertible Debentures / ZCD are
secured by way of first charge to and in favour of participating banks,
Institutions, National Housing Bank and Debenture Trustees jointly ranking
pari passu (read with Note 9.1), inter-se, on the Company’s whole of the
present and future book debts outstanding, investments including all the
receivables of the Company and other movable assets, wherever situated,
excluding SLR assets, read with Note 3 and 4 hereinafter. They are further
secured on pari passu basis by constructive delivery of various title deeds
of certain immovable properties of the Company, to Union Bank of India,
acting for itself and as an agent of other participating lenders and
Debenture trustees, and are also guaranteed by the promoter directors of the
Company. 3.
The secured loans (current and non current
portion) read with Note 9.1 availed by amalgamating company from various
lenders/ institutions are secured for the time being as under. However, the
Company is in discussions with its various lenders for re-alignment of
security clauses in terms of its existing debts. a.
Secured NCDs and ZCDs aggregating to Rs. 6691.900
millionsare secured by a first charge by way of hypothecation of book debts
of specific loan assets and by way of mortgage of certain land of the
Company. b.
The term loans from National Housing Bank
amounting to Rs. 4472.100 millionsare secured by mortgage of certain
immovable properties and a first exclusive charge by way of hypothecation of
all movable properties, excluding specific housing and property loans and
investments, of amalgamating Company. These loans are further secured by a
first exclusive mortgage/ charge by way of hypothecation of specific book
debts in respect of housing loans against which refinance has been availed. c.
The term loans from Banks aggregating to Rs.
40313.600 millionsare secured by a first charge by way of hypothecation of
book debts of specific loan assets of the amalgamating Company and some of
them are further secured by negative lien on the underlying specific
properties and / or secured by demand promissory notes. 4.
The National Housing Bank directives require all
HFC’s accepting public deposits to create a floating charge on the statutory
liquid assets maintained in favour of depositors through the mechanism of a
trust deed. The Company has accordingly appointed a SEBI approved trustee
Company as trustee for the above by executing the trust deed. 5.
Unsecured Redeemable Non Convertible Subordinated
Debentures aggregating to Rs. 11415.000 millions (Rs. 6550.000 millions),
outstanding as at 31st March, 2013, are subordinated to present
and future senior indebtedness of the company. It qualifies as Tier II
capital in accordance with National Housing Bank (NHB) guidelines for
assessing capital adequacy based on balance term to maturity. These
debentures are redeemable at par on maturity between August 2013 and October
2023. 6.
Fixed Deposits and Other Deposits, including
short term fixed deposits and short term other deposits, are repayable as per
individual contracted maturities ranging from 12 to 84 months from the date
of deposit. The interest is payable on contracted terms depending upon the
scheme opted by the depositor. 7.
Department of Company affairs vide their general
circular no. 4/2003 dated 16.01.2003, which has not been modified, has
clarified that Housing Finance Companies registered with National Housing
Bank are exempt from the requirement of creating Debenture Redemption Reserve
(DRR) in case of privately placed debentures. Since the Debenture issues of
the Company till day are through private placement, no DRR has been created. SHORT TERM
BORROWINGS Loans repayable
on demand and other short term loans comprising of Cash credit facilities
from banks includes borrowings of amalgamating company and are secured by a
first charge by way of hypothecation of book debts of specific loan assets of
the company and are further secured by negative lien on the underlying
specific properties and / or secured by demand promissory notes. Certain Cash
credit facilities are also secured by way of a first pari passu charge along
with other secured loans read with Note 5.2. All cash credit facilities are
repayable as per the contracted/ roll over term. |
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institutions/ Multilateral Agencies /
Other Lenders |
Ø
Asian Development Bank Ø
General Insurance Corporation of India Ø
International Finance Corporation Ø
Life Insurance Corporation of India Ø
National Housing Bank (NHB) Ø National
Insurance Company Limited |
|
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|
Auditors : |
|
|
Name : |
B. M. Chaturvedi and Company Chartered Accountants |
|
Address : |
32, Jolly Maker
Chambers II, Nariman Point, Mumbai 400 021, Maharashtra, India |
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|
Subsidiaries : |
Ø DHFL Holdings
Private Limited * Ø First Blue Home
Finance Limited.* (formerly known as Deutsche Postbank Home Finance Ltd.) |
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|
Associate: |
Ø DHFL Vysya
Housing Finance Limited. Ø DHFL Property
Services Limited. Ø Aadhar Housing
Finance Private Limited Ø DHFL Insurance
Services Limited. Ø Arthveda Fund
Management Private Limited Ø Dish Hospitality
Private Limited Ø Wadhawan
Holdings Private Limited Ø Wadhawan Retail
Private Limited Ø Avanse Financial
Services Private Limited Ø DHFL Sales and
Services Limited. |
* As per the
Scheme of Amalgamation, erstwhile First Blue Home Finance Limited and DHFL
Holdings Private Limited as approved by the respective Hon’ble High Court’s of
Judicature at Bombay and Delhi read with Note 27 was amalgamated with the
Company
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
748000000 |
Equity Shares |
Rs.10/- each |
Rs.7480.000 Millions |
|
75000000 |
Redeemable, non convertible preference shares |
Rs.10/- each |
Rs.750.000 Millions |
|
500000 |
Redeemable, non convertible preference shares of |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.8280.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
128218709 |
Equity Shares |
Rs.10/- each |
Rs.1282.200 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1282.200 |
1168.400 |
1044.300 |
|
(b) Reserves & Surplus |
31088.700 |
19158.800 |
14440.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
32370.900 |
20327.200 |
15484.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
265647.100 |
160186.000 |
129738.200 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
1.500 |
|
(c) Other long term liabilities |
27.700 |
0.000 |
158.500 |
|
(d) long-term provisions |
2636.000 |
1594.000 |
475.300 |
|
Total Non-current Liabilities (3) |
268310.800 |
161780.000 |
130373.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8759.800 |
9341.700 |
3425.600 |
|
(b) Trade payables |
5.800 |
486.000 |
402.400 |
|
(c) Other current
liabilities |
48120.800 |
22845.800 |
16476.800 |
|
(d) Short-term provisions |
462.300 |
390.300 |
653.300 |
|
Total Current Liabilities (4) |
57348.700 |
33063.800 |
20958.100 |
|
|
|
|
|
|
TOTAL |
358030.400 |
215171.000 |
166815.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1718.000 |
602.000 |
552.900 |
|
(ii) Intangible Assets |
74.200 |
40.200 |
8.800 |
|
(iii) Capital
work-in-progress |
2587.100 |
1822.600 |
1660.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1905.200 |
3874.600 |
3831.900 |
|
(c) Deferred tax assets (net) |
20.100 |
(213.300) |
0.000 |
|
(d) Long Term Housing and Property Loans |
323694.900 |
182429.800 |
129096.700 |
|
(e) Other
Long-term Loan and Advances |
330.000 |
133.400 |
94.400 |
|
(f) Other Non-current assets |
2719.300 |
2819.100 |
1184.600 |
|
Total Non-Current Assets |
333048.700 |
191508.400 |
136430.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
845.000 |
752.900 |
4874.800 |
|
(b) Trade receivables |
589.600 |
543.400 |
321.400 |
|
(c) Cash and cash
equivalents |
5125.600 |
7016.400 |
10442.700 |
|
(d) Short Term
Portion of Housing and Property Loans |
15322.300 |
11124.000 |
12123.100 |
|
(e) Other Short-term
loans and advances |
2872.600 |
4086.500 |
2575.000 |
|
(f) Other current assets |
226.500 |
139.400 |
48.800 |
|
Total Current Assets |
24981.600 |
23662.600 |
30385.800 |
|
|
|
|
|
|
TOTAL |
358030.400 |
215171.000 |
166815.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
41226.400 |
24677.600 |
14493.500 |
|
|
|
Other Income |
177.200 |
19.200 |
18.900 |
|
|
|
TOTAL (A) |
41403.600 |
24696.800 |
14512.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Remuneration & Benefits |
1406.900 |
877.600 |
598.600 |
|
|
|
Administrative & Other Expenses |
2161.700 |
1559.100 |
994.700 |
|
|
|
Provision for Contingencies |
450.000 |
237.000 |
90.000 |
|
|
|
Exceptional Item |
0.000 |
0.000 |
354.300 |
|
|
|
TOTAL (B) |
4018.600 |
2673.700 |
1329.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
37385.000 |
22023.100 |
13183.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31193.600 |
17992.300 |
9731.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6191.400 |
4030.800 |
3452.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
84.600 |
47.200 |
37.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
6106.800 |
3983.600 |
3414.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1588.300 |
920.000 |
763.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
4518.500 |
3063.600 |
2651.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1288.500 |
699.700 |
303.600 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2000.000 |
1000.000 |
1000.000 |
|
|
|
Contingency Reserve |
0.000 |
0.000 |
350.000 |
|
|
|
Special Reserve |
1000.000 |
100.000 |
0.000 |
|
|
|
Dividend |
234.200 |
0.000 |
365.700 |
|
|
|
Dividend for earlier year |
0.800 |
0.800 |
65.900 |
|
|
|
Tax on Dividend |
100.500 |
65.100 |
73.400 |
|
|
BALANCE CARRIED
TO THE B/S |
3622.800 |
1288.500 |
699.700 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
38.47 |
28.97 |
26.43 |
|
|
|
Diluted |
38.30 |
28.67 |
26.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.91
|
12.40 |
18.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.81
|
16.14 |
23.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.48
|
14.61 |
105.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.20 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.48
|
8.34 |
8.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.43
|
0.72 |
1.45 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term borrowing |
45995.700 |
21956.900 |
15313.400 |
|
|
|
|
|
|
Total |
45995.700
|
21956.900 |
15313.400 |
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
Stamp No.:- ITXAL/2944/2007 Filing
Dte:- 19.12.2007 |
|
|
Petitioner:- THE COMMISSIONER OF INCOMETAX, MUMBAI Petn.Adv.:- MRS. POONAM P. BHOSALE (0) District:- MUMBAI
|
Respondent:- M/S. GTL LIMITED – Resp.Adv.:- NA |
|
Bench:- SINGLE Status:- Pre-Admission Last Date:- 13.06.2013 Last Coram :- REGISTRAR (OS)PROTHONOTARY AND SR. MASTER
|
Category:-
TAX APPEALS Stage:- FOR REJECTION (ORIGINAL SIDE MATTERS) |
|
Act :- Income Tax Act, 1961 |
|
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Non-Convertible Debentures (Perpetual) |
1502.000 |
1252.000 |
|
Non-Convertible Debentures (Subordinated issue) |
11065.000 |
6100.000 |
|
Deposit |
|
|
|
Fixed Deposit (including Cumulative) |
9988.600 |
4495.600 |
|
Other Deposits |
43.200 |
13.200 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Fixed Deposits |
1956.700 |
4806.100 |
|
Other Deposits |
48.900 |
27.200 |
|
Other short term
loans and advances |
|
|
|
From Banks |
26.000 |
0.000 |
|
Commercial Papers |
5250.000 |
4014.000 |
|
Others |
290.000 |
450.000 |
|
|
|
|
|
Total |
30170.400 |
21158.100 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10465248 |
28/11/2013 |
1,500,000,000.00 |
United Bank of India |
Corporate Finance Branch,, 2nd Floor, 25, Sir, P. M. Road,, Mumbai,
Maharashtra - 400001, INDIA |
B91579185 |
|
2 |
10454968 |
09/10/2013 |
3,500,000,000.00 |
National Housing Bank |
Core 5 A India habitant Centre, Lodhi Road, New |
B87521316 |
|
3 |
10452608 |
26/09/2013 |
4,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI,
Maharashtra - 400018, INDIA |
B86493558 |
|
4 |
10449347 |
11/09/2013 |
2,000,000,000.00 |
United Bank of India |
Corporate Finance Branch,, 25, 2nd Floor, Sir P.M . Road,, Mumbai,
Maharashtra - 400001, INDIA |
B85135895 |
|
5 |
10451303 |
07/09/2013 |
5,000,000,000.00 |
Bank of India |
Star House,Plot No. C-5, G- Block, Bandra Kurla Complex, Bandra (E),
Mumbai, Maharashtra - 400051, INDIA |
B85840668 |
|
6 |
10446632 |
12/11/2013 * |
30,000,000,000.00 |
GDA TRUSTEESHIP LIMITED |
GDA House, First Floor, Plot No. 85, S. No. 94 & 95, Bhusari
Colony (Right), Kothrud, Pune, Maharashtra - 411038, INDIA |
B91290205 |
|
7 |
10448620 |
27/08/2013 |
2,500,000,000.00 |
CORPORATION BANK |
Corporate Banking Branch, Branch 104, Bharat House, M.S. Marg,
Fort, MUMBAI, Maharashtra - 400023, |
B84809664 |
|
8 |
10445939 |
21/08/2013 |
6,000,000,000.00 |
IDBI Bank Limited |
224-A, "A" WING, MITTAL COURT, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B83509562 |
|
9 |
10445160 |
08/08/2013 |
1,500,000,000.00 |
INDIAN BANK |
210, MITTAL TOWER - B WING, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
B83113035 |
|
10 |
10419422 |
20/03/2013 |
5,000,000,000.00 |
Canara Bank |
Prime Corporate Br. - I, Maker Tower F,, 20th Flr, 85 Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
B73084535 |
|
11 |
10411234 |
11/03/2013 |
5,000,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, 10/12 MUMBAI SAMACHAR MARG, FORT,
MUMBAI, Maharashtra - 400023, INDIA |
B70596358 |
|
12 |
10410711 |
15/02/2013 |
10,000,000,000.00 |
State Bank of India |
Overseas Branch, The Arcade, 2nd floor, World Trade Centre, Cuffe
Parade, Colaba, Mumbai, Maharashtra - 400005, INDIA |
B70413752 |
|
13 |
10433993 |
09/02/2013 |
2,000,000,000.00 |
STATE BANK OF PATIALA |
Atlanta, 1st floor, Jamnalal Bajaj Marg, Nariman |
B73150773 |
|
14 |
10436314 |
09/02/2013 |
3,000,000,000.00 |
Syndicate Bank |
Large Corporate Branch, 3rd Flr., No.10 Homji Str |
B72955651 |
|
15 |
10441766 |
09/02/2013 |
5,000,000,000.00 |
Corporation Bank |
Corporate Banking Br., 104, Bharat House,, Ground |
B73150302 |
|
16 |
10406560 |
01/02/2013 |
1,000,000,000.00 |
The South Indian Bank Ltd. |
SIB House, 1st Floor,, 266, Linking Road, Bandra |
B69013910 |
|
17 |
10410381 |
17/01/2013 |
1,000,000,000.00 |
Andhra Bank |
Nanavati Mahalaya, 18, Homi Modi Street,, Fort, Mumbai, Maharashtra -
400001, INDIA |
B70285275 |
|
18 |
10410393 |
17/01/2013 |
2,500,000,000.00 |
Andhra Bank |
Nanavati Mahalaya, 18, Homi Modi Street,, Fort, m |
B70289129 |
|
19 |
10398840 |
09/01/2013 |
3,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B66428665 |
|
20 |
10402212 |
09/01/2013 |
3,000,000,000.00 |
ING VYSYA BANK LIMITED |
NARAIN MANZIL, GROUND FLOOR, SHOP NO.G1, BARAKHA |
B67789503 |
|
21 |
10399184 |
29/12/2012 |
500,000,000.00 |
State Bank of Bikaner and Jaipur |
16, Community Centre, Saket, New Delhi, Delhi - 1 |
B66534108 |
|
22 |
10393478 |
14/12/2012 |
1,000,000,000.00 |
Bank of Maharashtra |
Advances Dept. Fort Br.,1st Flr., Janmangal,, 45/ 47 Mumbai Samachar
Marg, Fort, Mumbai, Maharashtra - 400023, INDIA |
B64719552 |
|
23 |
10394930 |
14/12/2012 |
1,000,000,000.00 |
AXIS BANK LTD. |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, Delhi -
110001, INDIA |
B65149999 |
|
24 |
10391027 |
12/12/2012 |
2,000,000,000.00 |
National Housing Bank |
Core 5-A, Indian Habitat Centre,, Lodhi Road, New Delhi, Delhi - 110003,
INDIA |
B63768436 |
|
25 |
10392415 |
11/12/2012 |
3,500,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS,, BANDRA KURLA COMPLEX, MUMBAI, |
B64307176 |
|
26 |
10392282 |
27/11/2012 |
1,500,000,000.00 |
State Bank of Travancore |
Commercial Branch, Travancore House, Kasturba Gan |
B64256936 |
|
27 |
10390083 |
17/11/2012 |
5,000,000,000.00 |
State Bank of India |
Commercial Branch, Vardhman Trade Centre, Plot 3 & 4, 2nd Floor,
DDA Building, Nehru Place, New Delhi, Delhi - 110019, INDIA |
B63345714 |
|
28 |
10384785 |
05/11/2012 |
10,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ba |
B61358503 |
|
29 |
10386553 |
27/09/2012 |
2,000,000,000.00 |
STATE BANK OF TRAVANCORE |
Commercial Branch Ernakulam, Malankara Centre, M.G. Rd, ERNAKULAM,
Kerala - 695001, INDIA |
B62092796 |
|
30 |
10378277 |
12/11/2013 * |
10,000,000,000.00 |
GDA TRUSTEESHIP LIMITED |
GDA House, First Floor, Plot No. 85, S. No. 94 & |
B91284950 |
|
31 |
10382111 |
27/09/2012 |
3,000,000,000.00 |
DENA BANK |
Corporate Business Branch, C-10, G- Block, Bandra- Kurla Complex,
Bnadra(East), Mumbai, Maharashtra - 400051, INDIA |
B60306024 |
|
32 |
10377383 |
17/09/2012 |
2,750,000,000.00 |
National Housing Bank |
Core 5-A, Indian Habitat Centre,, Lodhi Road, New Delhi, Delhi -
110003, INDIA |
B58438995 |
|
33 |
10379407 |
14/09/2012 |
1,000,000,000.00 |
INDIAN BANK |
210, MITTAL TOWER - B WING, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
B59255455 |
|
34 |
10377549 |
06/09/2012 |
5,000,000,000.00 |
UNION BANK OF INDIA |
239, Vidhan Bhavan Marg, IFB, 1 floor, Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
B58487299 |
|
35 |
10377551 |
06/09/2012 |
5,000,000,000.00 |
SYNDICATE BANK |
Large Corporate Branch,, 3rd Floor, Homji Street, |
B58487893 |
|
36 |
10377161 |
28/08/2012 |
1,000,000,000.00 |
State Bank of Hyderabad |
Corporate Finance Branch, 11C, Mittal Tower, Nari |
B58367640 |
|
37 |
10373518 |
11/08/2012 |
1,125,000,000.00 |
Standard Chartered Bank |
23, Narain Manzil,, Barakhamba Road,, New Delhi, Delhi - 110001, INDIA
|
B56814734 |
|
38 |
10369674 |
07/08/2012 |
2,000,000,000.00 |
IDBI Bank Limited |
3rd Floor, Red Cross Society, Red Cross Road, New Delhi, Delhi -
110001, INDIA |
B45368289 |
|
39 |
10372917 |
06/08/2012 |
500,000,000.00 |
Bank of India |
Large Corporate Branch, 4, PTI Building, Sansad Marg, New Delhi, Delhi
- 110001, INDIA |
B56516040 |
|
40 |
10375131 |
04/08/2012 |
1,000,000,000.00 |
Vijaya Bank |
Corporate Banking Br.- Mumbai,, Maker Chamber IV (Rear Portion) 222,
Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B57536385 |
|
41 |
10370123 |
01/08/2012 |
3,500,000,000.00 |
ORIENTAL BANK OF COMMERCE |
Large Corporate Br., 181- A, Maker Tower E, 18th |
B45536950 |
|
42 |
10368493 |
17/07/2012 |
500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B44888303 |
|
43 |
10368324 |
26/06/2012 |
3,000,000,000.00 |
Indian Overseas Bank |
New Marine Lines Branch,, Merchant Chambers, Gr. Flr., Opp. SNDT College,
Mumbai, Maharashtra - 400020, INDIA |
B44814788 |
|
44 |
10365513 |
26/06/2012 |
2,000,000,000.00 |
Punjab & Sind Bank |
Branch Office (B0385), J K Somani Building, Brit |
B43641026 |
|
45 |
10365222 |
18/06/2012 |
1,000,000,000.00 |
Dena Banlk |
M - 36, Connaught Circus, New Delhi, Delhi - 1100 |
B43513894 |
|
46 |
10369100 |
12/06/2012 |
3,000,000,000.00 |
Bank of India |
Nariman Point Large Corporate Branch, 92-93, Free Press House, 215,
Nariman Point,, Mumbai, Maharashtra - 400021, INDIA |
B45113701 |
|
47 |
10360644 |
25/05/2012 |
700,000,000.00 |
Bank of Maharashtra |
Advances Dept. Fort Br.,1st Flr., Janmangal, 45/47, Mumbai Samachar
Marg, Fort, Mumbai, Maharashtra - 400023, INDIA |
B41633512 |
|
48 |
10357512 |
07/05/2012 |
1,000,000,000.00 |
ICICI Bank Limited |
ICICI Tower, NBCC Palace, Bhishma Pitamah Marg, Pragati Vihar, New
Delhi, Delhi - 110003, INDIA |
B40312332 |
|
49 |
10357534 |
07/05/2012 |
500,000,000.00 |
ICICI Bank Limited |
ICICI Tower, NBCC Palace, Bhishma Pitamah Marg, Pragati Vihar, New Delhi,
Delhi - 110003, INDIA |
B40326621 |
|
50 |
10351413 |
23/03/2012 |
3,000,000,000.00 |
National housing Bank |
Core 5 A India Habitant Centre, Lodhi Road, New Delhi, Delhi - 110003,
INDIA |
B38085122 |
|
51 |
10343430 |
20/03/2012 |
2,000,000,000.00 |
Axis Bank Limited |
STATESMAN HOUSE,, 148, BARAKHAMBA ROAD, NEW DELHI |
B35549351 |
|
52 |
10354688 |
20/03/2012 |
2,000,000,000.00 |
ALLAHABAD BANK |
37, Mumbai Samachar Marg,, Fort, Mumbai, Maharashtra - 400023, INDIA |
B39318092 |
|
53 |
10354702 |
20/03/2012 |
1,000,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
SIB House, 1st Floor,, 266, Linking Road, Bandra |
B39324371 |
|
54 |
10354764 |
20/03/2012 |
1,000,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
SIB House, 1st Floor,, 266, Linking Road, Bandra |
B39331079 |
|
55 |
10354766 |
20/03/2012 |
2,000,000,000.00 |
ALLAHABAD BANK |
37, Mumbai Samachar Marg,, Fort, Mumbai, Maharashtra - 400023, INDIA |
B39331954 |
|
56 |
10339246 |
01/03/2012 |
1,000,000,000.00 |
State Bank of Mysore |
3,4 & 5, DDA Building, Nehru Place, New Delhi, Delhi - 110019,
INDIA |
B33725714 |
|
57 |
10337053 |
23/01/2012 |
1,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ba |
B32047961 |
|
58 |
10328876 |
29/12/2011 |
1,000,000,000.00 |
Vijaya Bank |
Corporate Banking Br.- Mumbai,, Maker Chamber IV (Rear Portion) 222,
Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B29644291 |
|
59 |
10330465 |
21/12/2011 |
2,000,000,000.00 |
Canara bank |
Prime Corporate Branch - 1, No.1, D.D.A Building, |
B30113492 |
|
60 |
10323058 |
16/12/2011 |
4,800,000,000.00 |
GDA TRUSTEE AND CONSULTANCY LIMITED |
SHRINIWAS, APTE ROAD,, 1202/29, SHIVAJI NAGAR, PUNE, Maharashtra -
411004, INDIA |
B27505528 |
|
61 |
10322653 |
15/12/2011 |
2,400,000,000.00 |
National Housing Bank |
Core 5 A India Habitant Centre,, Lodhi Road, New |
B27682608 |
|
62 |
10323292 |
08/12/2011 |
1,000,000,000.00 |
Vijaya Bank |
Corporate Banking Branch, 31 C, 3rd Floor, DDA Shopping Centre, Defence
Colony, New Delhi, Delhi - |
B27924919 |
|
63 |
10320383 |
28/11/2011 |
500,000,000.00 |
Central Bank of India |
Jeevan Tara Building, 5, Parliament Street, New Delhi, Delhi - 110001,
INDIA |
B26474551 |
|
64 |
10321934 |
23/11/2011 |
6,000,000,000.00 |
State Bank of India |
Overseas Branch, The Arcade, 2nd Floor, World Trade Centre, Cuffe
Parade, Colaba,, Mumbai, Maharashtra - 400005, INDIA |
B27308584 |
|
65 |
10316710 |
18/10/2011 |
3,000,000,000.00 |
Union Bank of India |
Industrial Finance Branch, M-11, 1st floor,, Midd |
B24948556 |
|
66 |
10312613 |
07/10/2011 |
1,000,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
CLPC Kamanwala Chambers,, Sir P.M. Road, Fort,, Mumbai, Maharashtra -
400001, INDIA |
B23362759 |
|
67 |
10314062 |
27/09/2011 |
2,000,000,000.00 |
Indian Overseas Bank |
DLF Phase - II, Qutab enclave,, Gurgaon, Haryana - 122002, INDIA |
B23891369 |
|
68 |
10316579 |
27/09/2011 |
1,000,000,000.00 |
Oriental Bank of Commerce |
M/1/2/3, Connaught Circus, New Delhi, Delhi - 110001, INDIA |
B24895724 |
|
69 |
10309936 |
26/09/2011 |
2,000,000,000.00 |
State Bank of Patiala |
Commercial Branch, Atlanta, First Floor Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
B22440382 |
|
70 |
10316578 |
26/09/2011 |
1,000,000,000.00 |
Axis Bank Limited |
Trishul, 3rd Floor, opp. Samartheshwar Temple, Law Garden Ellis
Bridge, Ahmedabad, Gujarat - 380006, INDIA |
B24895641 |
|
71 |
10306802 |
16/09/2011 |
1,000,000,000.00 |
State Bank of Mysore |
No. 3, 4 & 5, DDA Building, Nehru Place, New Delhi, Delhi -
110019, INDIA |
B20783551 |
|
72 |
10308330 |
13/09/2011 |
5,000,000,000.00 |
Syndicate Bank |
Large Corporate Branch, 3rd Flr., No.10 Homji Str |
B21578083 |
|
73 |
10309817 |
13/09/2011 |
1,000,000,000.00 |
State Bank of Bikaner and Jaipur |
CHITOOR ROAD, ERNAKULAM, Kerala - 682011, INDIA |
B22393847 |
|
74 |
10310210 |
12/09/2011 |
2,000,000,000.00 |
Syndicate Bank |
Corporate Finance Branch, 1st Floor, Sarojini House, 6, Bhagwan Dass
Road, New Delhi, Delhi - 11000 |
B22552079 |
|
75 |
10309686 |
06/09/2011 |
5,000,000,000.00 |
Canara Bank |
Prime Corporate Br., Maker Tower F, 20th Flr, 85 Cuffe Parade, Mumbai,
Maharashtra - 400005, INDIA |
B22335830 |
|
76 |
10312611 |
06/09/2011 |
2,500,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LCB, CUFFE PARADE, 18th Floor, Maker Tower-E, MUMBAI, Maharashtra -
400005, INDIA |
B23362387 |
|
77 |
10311481 |
30/08/2011 |
1,000,000,000.00 |
State Bank of Bikaner and Jaipur |
16, Community Centre, Saket, New Delhi, Delhi - 1 |
B23058696 |
|
78 |
10303216 |
17/08/2011 |
2,000,000,000.00 |
STATE BANK OF PATIALA |
ATLANTA, 1ST FLOOR,, JAMNALAL BAJAJ MARG, NARIMAN |
B19188150 |
|
79 |
10300614 |
11/07/2011 |
5,000,000,000.00 |
Central Bank of India |
Churchgate Branch, Kasturi Building, J.Tata Road, Mumbai, Maharashtra
- 400020, INDIA |
B18201392 |
|
80 |
10299542 |
11/07/2011 |
2,000,000,000.00 |
Indian Bank |
Nariman Point Branch,, Nariman Point, MUMBAI, Maharashtra - 400021,
INDIA |
B17829003 |
|
81 |
10302281 |
27/06/2011 |
2,000,000,000.00 |
Dena Bank |
M - 36, Connaught Circus, New Delhi, Delhi - 1100 |
B18826487 |
|
82 |
10296256 |
15/06/2011 |
2,000,000,000.00 |
Punjab & Sind Bank |
J. K. Somani Building, British Hotel Lane,, Fort, |
B16544249 |
|
83 |
10296290 |
15/06/2011 |
3,000,000,000.00 |
Andhra Bank |
18, Homi Modi Street, Nanavathi Mahalaya,, Fort, Mumbai, Maharashtra -
400001, INDIA |
B16542391 |
|
84 |
10296092 |
03/06/2011 |
3,000,000,000.00 |
Union Bank of India |
Industrial Fin. Br., 1st floor, Union Bank Bhavan, |
B16526030 |
|
85 |
10293372 |
30/05/2011 |
1,000,000,000.00 |
Bank of India |
4, PTI Building, Sansad Marg, New Delhi, Delhi - |
B15415060 |
|
86 |
10284473 |
28/04/2011 |
500,000,000.00 |
Axis Bank Limited |
Trishul, 3rd Floor, opp. Samartheshwar Temple, Law Garden Ellis
Bridge, Ahmedabad, Gujarat - 380006, INDIA |
B12172037 |
|
87 |
10281190 |
12/04/2011 |
180,000,000.00 |
Deutsche Bank AG |
4th Floor,DLF Square, Jacaranda Marg, DLF Phase-II, Gurgaon, Haryana -
122002, INDIA |
B10865368 |
|
88 |
10278321 |
31/03/2011 |
2,500,000,000.00 |
Corporation Bank |
Corporate Banking Br., 104, Bharat House,, Ground Floor, Mumbai
Samachar Marg, Fort, Mumbai, Maharashtra - 400023, INDIA |
B09943671 |
|
89 |
10278322 |
25/03/2011 |
5,000,000,000.00 |
Punjab National Bank |
Large Corporate Branch, Maker Tower 'E',, Cuffe P |
B09944125 |
|
90 |
10282344 |
25/03/2011 |
1,500,000,000.00 |
South Indian Bank Ltd |
SIB House, 1st Floor,, 266, Linking Road, Bandra |
B10743037 |
|
91 |
10279889 |
23/03/2011 |
500,000,000.00 |
Axis Bank |
Trishul, 3rd Floor, Opp. Samartheshwar Temple, Law Garden, Ellis
Bridge, Ahmedabad, Gujarat - 380006, INDIA |
B10485506 |
|
92 |
10273233 |
09/03/2011 |
500,000,000.00 |
State Bank of Bikaner & Jaipur |
16, Community Centre, Saket,, New Delhi, Delhi - |
B08551814 |
|
93 |
10273450 |
24/02/2011 |
1,000,000,000.00 |
THE FEDERAL BANK LTD. |
Corporate Banking Branch, 1st floor, 32,, Raja Bahadur Mansion, Mumbai
Samachar Marg,, Mumbai, Maharashtra - 400001, INDIA |
B07694987 |
|
94 |
10270766 |
11/02/2011 |
1,000,000,000.00 |
State Bank of Hyderabad |
11C, Mittal Tower, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B07296296 |
|
95 |
10264894 |
19/01/2011 |
1,000,000,000.00 |
State Bank of Bikaner and Jaipur |
PO BOX NO.1064, ASWATHI, 36/825(A)1, CHITOOR ROAD, ERNAKULAM, Kerala -
682011, INDIA |
B04697900 |
|
96 |
10264901 |
19/01/2011 |
1,000,000,000.00 |
STATE BANK OF HYDERABAD |
Mangalore Branch, K. S. Rao Road, Mangalore, Karnataka - 575003, INDIA
|
B04699344 |
|
97 |
10259392 |
07/01/2011 |
5,000,000,000.00 |
GDA TRUSTEE AND CONSULTANCY LIMITED |
SHRINIWAS 1202/29SHIWAJINAGAR, PUNE, Maharashtra - |
B02562288 |
|
98 |
10257457 |
22/12/2010 |
1,000,000,000.00 |
Bank of India |
4 PTI building, Sansad Marg, New delhi, Delhi - 1 |
B02004596 |
|
99 |
10265097 |
15/12/2010 |
3,000,000,000.00 |
UNION BANK OF INDIA |
Industrial Finance Branch, 1st Flr.,Union Bank Bh |
B04655247 |
|
100 |
10252434 |
12/11/2010 |
2,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ba |
A99744542 |
* Date of charge modification
CORPORATE INFORMATION
The Company was incorporated in India on 11th
April, 1984 and is carrying on the business of providing loans to retail
customers for construction or purchase of residential property and loans
against property. The company is registered with National Housing Bank under
section 29A of the National Housing Bank Act, 1987. DHFL has its registered
office in Mumbai and has 166 branches, 75 service centres, 31 camp locations,
18 zonal/ regional office, 2 disbursement hub and 4 collection centers in India
and 2 representative offices in UAE and UK.
MANAGEMENT DISCUSSION AND ANALYSIS
ECONOMIC OVERVIEW
Even as India
evolves into an open-market economy, legacy influences remain. In the last two
years, Indian economy has slowed following a deliberately tight monetary policy
to counter inflation, which resulted in investment decline, investor pessimism,
increased fuel subsidy expenditure (arising out of high crude prices), rising
fiscal deficit and worsening current account deficit. It was only in late 2012
that the Indian government announced reforms and deficit-reduction measures
even as a number of its challenges - poverty, inadequate infrastructure
(physical and social), limited non-agricultural employment opportunities,
inadequate education and rural-to-urba
migration - remained unaddressed. However, India’s mediumtermappears
positive for some good reasons: young population, low dependency ratio, healthy
savings cum investments and progressive global integration.
Following the
announcement in the Union Budget 2012-13, it was decided to allow external
commercial borrowings (ECBs) for low-cost affordable housing projects as
permissible end use under the approval route. ECBs can be availed by
developers/builders for low cost affordable housing projects as well as Housing
Finance Companies or National Housing Bank for financing the prospective owners
of low-cost affordable housing units.
HOUSING INDUSTRY OUTLOOK
The slow growth in
India’s manufacturing and services sectors had a trickle-down impact on the
country’s housing sector, even as its impact was mitigated on account of
increased regulation, funding controls, risk management and asset protection.
India retained its position as one of the world’s fastest growing realty
markets, attracting developers and international investors. The sector appeared
poised to sustain double-digit growth on the back of a growing population,
strengthening incomes, rising aspirations, accelerating urbanization and
transforming demographics. These realities provide the optimism that household
numbers could rise in line with age changes in the younger population group,
increase in the working population, growing incomes, robust housing demand,
growing preference for mortgage as against a long standing taboo against taking
debt, appreciation in real estate values, government fiscal incentives making
net interest rates affordable, customized product offerings and an increased
availability of housing stock.
The Indian housing
industry is dominated by affordable housing (value and volume) for the
low-income group. The mediumincome housing segment is reporting attractive
growth, especially in Tier-1 and Tier-2 cities, which could extend to robust
luxury housing prospects for the long-term.
Interestingly,
despite a high interest rate regime in India, home loan demand remained robust
during the year India’s dwelling unit
shortage was most visible in its mid-income and low-income segments. The market
for home loan demand in India is likely to sustain on the basis of extensive
housin shortage coupled with
historically low mortgage penetration. India is one of the most attractive
mortgage markets in the world. Mortgage penetration in India is around 9% of
GDP compared with more than 50% in large developed economies and doubledigit
penetration in peer ASEAN countries.
FURTHER INITIATIVES
The Company
intends to grow its loan book, income and profits through the following
initiatives:
·
Deepening reach in existing regions and expanding
to new regions
·
Continued focus on under-penetrated markets
·
Protecting high asset quality through a sustained
risk management priority
·
Accessing low cost, diversified fund sources
·
Maintaining low operating costs.
OUTLOOK, 2013-14
During 2013-14,
the Company proposes the following:
Ø Expand operations
through new business centres
Ø Widen distribution
through the appointment of agents
Ø Incentivize and
motivate marketing intermediaries
Ø Mobilise debt at
attractive rates and terms
Ø Strengthen the
existing Risk Management System
Ø Strengthen lender
relationships with the objective to reduce overall fund cost
Ø Improve recovery
ratio and eliminate NPAs
Ø Review lending
rates at quarterly intervals, passing on benefits of declining rates to
customers
Ø Strengthen the Information
Technology platform with the objective to provide prompt and effective service
Ø Invest in brand
building to enhance corporate and product awareness
Ø Engage in
competitive loan pricing to attract more customers
FINANCIAL ANALYSIS OF OPERATIONS
The Scheme of
Amalgamation of First Blue Home Finance Limited and DHFL Holdings Private
Limited with the Company under Sections 391 to 394 of the Companies Act, 1956
was sanctioned by Hon’ble High Court of Bombay vide Order dated 27th July, 2012
and Hon’ble Delhi High Court dated 4th January, 2013. Thus, the
standalone figures of the previous year (2011-12) are not comparable with the
figures of financial year 2012-13.
INFORMATION TECHNOLOGY
During the year ,
the Company invested in businessintegrating software solutions and upgrading
infrastructure (high availability servers and network equipment).
DHFL invested a
cumulative Rs. 8 crore in IT during the financial year ended 31st March, 2013
with the objective to accelerate organisational efficiency, integrate
processes, minimise manual and duplication and enhance productivity.
A decline in
manual intervention has enhanced information accuracy, reduced rework,
eliminated process duplication, rationalised the turnaround time in responding
to loan requests and strength ened the MIS with real time transparency leading
to proactive remedial action.
The Company’s core
application is being revamped following DHFL’s integration with erstwhile First
Blue, integrating the best features from both organisations on a common
application platform. Following the amalgamation of First Blue Home Finance
Limited, the Company is ensuring a seamless transition for erstwhile First Blue
cusomers/deposits. Going ahead, the Company intends to invest in a new Data
Centre Environment
around the highest data and equipment security, server optimization and
holistic software applications (covering human resources, general ledger,
customer relationship management, wealth management and treasury functions).
The Company expects that these investments will translate into increased
customer convenience, lower customer complaints and quicker turnaround.
FIXED ASSETS
Ø
Land and Building
Ø Leasehold Premises
Ø Furniture and
Fixture
Ø Office Equipments
Ø Vehicles
Ø Computer
(Hardware)
Ø
Computer (Software)
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND
SIX MONTHS ENDED 30TH SEPTEMBER 2013
(Rs. In Millions)
|
|
Particulars |
Quarter Ended |
|||
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
||
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||
|
1. |
(a) Revenue From
Operation |
11668.230 |
8166.388 |
22930.707 |
|
|
|
(b) Other lncome |
3.846 |
11.446 |
7.807 |
|
|
|
Total Income |
11672.076 |
8177.834 |
22938.514 |
|
|
|
|
|
|
|
|
|
2. |
EXPENDITURE |
99470.009 |
6997.299 |
19623.132 |
|
|
|
(a)
Interest Expenses |
8786.690 |
6100.351 |
17166.456 |
|
|
|
(b)
Staff Expenses |
403.495 |
275.810 |
796.313 |
|
|
|
(c)
Other Expenses |
732.524 |
608.039 |
1612.875 |
|
|
|
(d)
Depreciation |
24.300 |
13.828 |
47.488 |
|
|
3. |
Profit before tax |
1725.067 |
1180.535 |
3315.380 |
|
|
4. |
Provision for
Taxation |
433.700 |
322.000 |
821.000 |
|
|
5. |
Profit After Tax
|
1291.367 |
858.535 |
2494.382 |
|
|
6. |
Paid up Equity Share Capital (Face Value Rs. 10/ each) |
1283.263 |
1170.774 |
1283.263 |
|
|
7. |
Reserve excluding Revaluation Reaseve |
-- |
-- |
-- |
|
|
8. |
Earning per
Shares (of Rs. 10/- each) |
|
|
|
|
|
|
Basic |
10.07 |
7.34 |
19.44 |
|
|
|
Diluted |
10.06 |
7.28 |
19.42 |
|
|
9. |
Debt Equity
Ratio |
-- |
-- |
9.57 |
|
|
10. |
Debt Servioe Coverage Ratio |
-- |
-- |
0.226 |
|
|
11. |
Interest
Services Coverage Ratio |
-- |
-- |
1.19 |
|
|
12. |
Paid up Debt Capital |
-- |
-- |
356148.382 |
|
|
|
|
|
|
|
|
|
PART - II SELECT INFORMATION FOR THE QUARTER AND SIX
MONTHS ENDED 30TH SEPTEMBER 2013 |
|||||
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
|
a. |
Number of shares |
77927445 |
75778565 |
77927445 |
|
|
b. |
Percentage of shareholding |
60.73 |
64.73 |
60.73 |
|
2 |
Promoters and promoter group shareholding |
|
|
|
|
|
|
a. |
Pledged/Encumbered |
|
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
|
|
|
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
-- |
-- |
-- |
|
|
|
Percentage of shares (as a % of the total share capital of the
Company) |
-- |
-- |
-- |
|
|
b. |
Non-encumbered |
|
|
|
|
|
Number of shares |
50398822 |
41298817 |
50398822 |
|
|
|
|
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
100.00 |
100.00 |
100.00 |
|
|
|
Percentage of shares (as a % of the total share capital of the
Company) |
39.27 |
35.27 |
39.27 |
|
Particulars |
Quarter ended 30.09.2013 |
|
B INVESTOR COMPLAINTS (Nos.) |
|
|
Pending at the beginning of the quarter |
-- |
|
Received during the quarter |
9 |
|
Disposed of during the quarter |
9 |
|
Remaining unresolved at the end of the quarter |
-- |
Note:
1. STANDALONE STATEMENT OF ASSETS AND
LIABILITIES
(Rs. In Millions)
|
Particular |
30.09.2013 |
|
EQUITY AND
LIABILITIES |
|
|
Shareholders’
funds |
|
|
(a) Share capital |
1283.263 |
|
(b) Reserves and surplus |
33242.707 |
|
Sub-total
- Shareholders' funds |
34525.970 |
|
|
|
|
Non-current
liabilities |
|
|
(a) Long-term Liabilities |
290176.780 |
|
(b) Deferred Tax Liabilities (Net) |
28.748 |
|
(c) other long term liability |
13.159 |
|
(d)long term provision |
2864.534 |
|
Sub-total
- Non-current liabilities |
293083.221 |
|
|
|
|
Current
liabilities |
|
|
(a)short term Borrowings |
14225.099 |
|
(b) Trade payables |
175.800 |
|
(c) Other current liabilities |
56834.404 |
|
(d)Short-term provision |
0.000 |
|
Sub-total - Current
liabilities |
71235.303 |
|
|
|
|
TOTAL - EQUITY AND
LIABILITIES |
398844.494 |
|
|
|
|
ASSETS |
|
|
Non-current
assets |
|
|
(a) Fixed assets |
|
|
(i) Tangible assets |
1686.451 |
|
(ii) Intangible Assets |
91.322 |
|
(iii) Capital
work-in-progress |
7836.741 |
|
(b) Non-current investments |
2432.088 |
|
(c) Long-term housing and property loans |
341725.677 |
|
(d) Other long term loans and
advances |
181.658 |
|
(e) Other non current assets |
426.880 |
|
Sub-total
- Non-current assets Current assets |
354380.817 |
|
Current assets |
|
|
(a) Current Investment |
2035.651 |
|
(b) Trade receivables |
944.424 |
|
(c) Cash and cash equivalents |
21255.149 |
|
(d) Short-term portion of housing and property loans |
16332.313 |
|
(e) Other current assets |
236.342 |
|
Sub-total
- Current assets |
44463.677 |
|
|
|
|
TOTAL
- ASSETS |
398844.494 |
NOTE:
2.
The above financial
results have been reviewed by the Audit Committee of For Directors
and subsequently approved by the Board of
Directors at their meeting held on
21" October, 201 3
3.
The results for the quarter / half year ended 30th September, 2013 have been subjected to
"limited Review" by the Statutory Auditors of the Company in
compliance with the requirement
of the Listing Agreement with Stock Exchanges.
4.
The main business of the Company is to provide loans for
purchase or construclion of residential houses and all other activities of the
Company revolve around the main buslness and as such there are no separate reportable segments as specled in hunting Standard (AS-17) on
"Segment Reporting, which needs to be reported.
5.
Housing Loans sanctioned during the Quarter ended 30th September,
2013 amounted to Rs. 44143.000 milions
as against Rs.32702.700 millions during the
previous corresponding period, showing an increase of 35%. Disbursement during the Quarter ended 30 th September, 2013
amounted to Rs. 32589.100 millions
as against Rs.
24467.500 millions lam during the previous
corresponding period showing an increase of 33%. Housing Loans sanctioned during the half year ended 30th September, 2013 amounted to Rs. 91957.000 millions as against Rs. 66805.300 millions during
the previous corresponding period, showing an increase of 38%. Disbursements
during the half year ended 30th September,
2013 amounted to Rs. 68740.800 millions as against Rs. 51230.800 millions during the
previous corresponding period showing an increase of 34%.
6. Revenue from Operations for the Quarter ended
30th September, 2013 includes
Operational treasury in come consisting of Income from mutual fund operationRs. 213.300 millions
(Rs. 149.600 millions), Dividend Income Rs.
5.600 millions (Rs. 3.000 millions),
profit on sale of investments Rs. 15.100 millions (Rs. 12.600 millions).
Revenu from Operations for the
half year ended 30th
September, 2013 includes Operational treasury income
consisting of Income from mutual fund operatton
Rs. 410.200 millions (Rs.204.400 millions), Dlvidend Income Rs.
5.600 millions (Rs. 3.600 millions],
prifit on sale of investment Rs. 39.400 million (Rs. 16.500 millions)
7.
During the quarter ended and half year ended 36 September, 2013, the Company has securitised
/ assigned pool of housing and pr
aggregating to Rs.3973.000
millions and Rs. 8245.600 millions respectively. These assets have been
de-recognised in the books of the Company.
The Company responsible for collection and getting servicing of the securitized
portfolio on behalf of the buyer
/ investor. In terms of the securitization the Company pays to buyer / investor
on monthly basis the collection amount, subject to retention of agreed interest margin for the company.
8.
During the half
year ended 30th September, 2013, the Company had issued and allotted 107,568 no of Equity shares of Rs. 10/- each, pursuant to exercise of stock options by eligible
employees and said shares were ranked pari-passu
in all respects including didend
entitlement
9.
Figures have ken regrouped, rearranged and
reclassified wherever necessary. Figures in brackets are of corresponding previous Results
for the quarter1 half year ended 30th
September, 2012 are of the standalone pre-amalgrnated entity, therefore
are nM ownparable
with ourrent perid figures.
PRESS RELEASE:
DHFL and Prudential Financial, Inc. complete ownership transfer of life
insurance joint venture in India
DHFL, along with its promoters’ entities, has acquired a 74 percent
stake in the joint venture
18 December 2013 New Delhi India
Dewan Housing
Finance Corporation Limited (DHFL) and Prudential Financial, Inc. (PFI)
announced today that they have closed their previously announced joint venture
(JV) transaction, following regulatory approval, to provide life insurance
products to customers in India. Under the agreement, DHFL, along with its
promoters’ entities, has acquired DLF’s 74 percent stake in DLF Pramerica Life
Insurance Company Ltd. (DPLI). DHFL has capped its stake at 50 percent in
accordance with National Housing Bank (NHB) requirements, while the two other
promoter entities have each acquired a 12 percent stake.
DHFL is India’s
second largest private housing finance company with presence spread across the country.
PFI is a global financial services company which does business under the trade
name Pramerica in select countries outside the United States.
The name of the
life insurance company shall be changed to DHFL Pramerica Life Insurance
Company Ltd. (DHFL Pramerica) very shortly, subject to regulatory approval. In
addition to the Managing Director, the Board of the joint venture company shall
comprise three Directors from DHFL; two from PFI and two Independent Directors.
Statement from Mr.
Kapil Wadhawan, Chairman and Managing Director, DHFL:
“DHFL is thrilled
to begin this new life insurance partnership with PFI. Together, we can help
broaden the company’s ability to meet the life insurance needs of consumers
across India. We are committed to working with PFI and the team at the joint
venture company to grow the business, which we believe will generate long-term
value for DHFL shareholders.”
Statement from Mr.
Tim Feige, Senior Vice President and International Insurance Group Executive at
PFI:
“We are pleased to
join forces with DHFL to enhance significantly the platform for the long-term
growth of the life insurance joint venture company. For more than five years,
the joint venture has been helping families across India meet their protection
needs. With access to DHFL’s strong branch network and retail financial
services expertise, the life insurance joint venture will have the ability to
reach even more people with its high-quality products and services.”
Both shareholders
are committed to supporting and building the joint venture company over the
long term. The joint venture life insurance company is expected to benefit
significantly from the long-term exclusive commitment of the strong
distribution network of DHFL and its other associate companies, including
Aadhar Housing Finance Ltd, DHFL Vysya Housing Finance Ltd and Avanse Financial
Services Pvt Limited, with their network of branches across the country. The
legacy of a 138-year old financial institution like PFI with its life insurance
expertise, coupled with DHFL’s strong knowledge of the Indian retail financial
services market, will further strengthen the foundation of the life insurance
joint venture company.
The joint venture
will help DHFL extend its philosophy of financial inclusion by broadening the
range of products and services available to its customers, as well as other
customers, across India, especially in Tier 2 and Tier 3 cities / towns. For
DHFL, such a partnership with a global financial services company like PFI will
generate significant long-term value for its shareholders.
About DHFL
DHFL was founded
in 1984 by Late Shri Rajesh Kumar Wadhawan with a vision to provide financial
access to the lower and middle income segments of society. Today, led by Mr.
Kapil Wadhawan, CMD, DHFL, the company is one of India’s leading mortgage
finance institutions with presence in over 450 locations across the country, in
addition to representative offices in Dubai and London.
Throughout its
years of growth, DHFL has stayed with its core vision of financial inclusion.
The company’s wide network, coupled with insights into local customer needs,
has enabled the company to provide meaningful financial access to customers
even in India’s smallest towns. With a strong business foundation an extensive distribution network, proven
industry expertise and a deep understanding of the Indian customer, DHFL is one
of India’s largest financial services companies.
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.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
70 |
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.