MIRA INFORM REPORT
|
Report Date : |
23.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE CAPITAL ASSET MANAGEMENT LIMITED |
|
|
|
|
Registered
Office : |
‘H’ Block, 1st Floor, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai - 400710, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-220793 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 107.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910MH1995PLC220793 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR027433G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2668G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The Company's principal activity is to act as an investment manager to Reliance Mutual Fund ( the Fund'), to provide Portfolio Management Services ('PMS') to clients under Securities and Exchange Board of India (SEBI) |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 48000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of
“Reliance Capital Limited” It is a well established and reputed company having fine track record. There appears increase in the overall profitability as well as net
worth. Financial position of the company is good. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. In view of strong holding and experienced promoters, the company can
be considered good 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.
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.: 9122-30994600)
LOCATIONS
|
Registered Office : |
‘H’ Block, 1st Floor, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30479800 / 30994600 /30479400 |
|
Fax No.: |
91-22-30327202 / 30994699 |
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E-Mail : |
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|
Website: |
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|
Corporate Office : |
570, Rectifier House, 2nd Floor, Naigaum Cross Road, Next
to Royal Industrial Estate, Wadala, Mumbai – 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479800 |
|
|
|
|
Branch Office : |
11th and 12th Floor, One India Bulls Centre,
Tower 1 Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinston Road,
Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-30994600 |
|
Fax No.: |
91-22-30994699 |
DIRECTORS
As on 22.08.2012
|
Name : |
Mr. Kanu Harkisondas Doshi |
|
Designation : |
Director |
|
Address : |
102, Shivala, Khatau Road, Cuffe Parade, Mumbai - 400005, Maharashtra,
India |
|
Date of Birth/Age : |
13.04.1937 |
|
Qualification : |
B.Com, B A, FCA (Chartered Accountant) |
|
Date of Appointment : |
09.06.2006 |
|
DIN No.: |
00577409 |
|
|
|
|
Name : |
Mr. Sushil Chandra Tripathi |
|
Designation : |
Director |
|
Address : |
27 Sector 15 A, Noida - 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.01.1946 |
|
Qualification : |
M.Sc (Physics
Spl. Electronics), LLB, Postgraduate Diploma in Development Studies (Cantab),
AIMA Diploma in Management |
|
Date of Appointment : |
24.07.2007 |
|
DIN No.: |
00941922 |
|
|
|
|
Name : |
Mr. Soumen Ghosh |
|
Designation : |
Director |
|
Address : |
Flat No. 1501, Lodha Aria, Plot No. 6/207, Tokersey Jivraj Road,
Sewree (West), Mumbai – 400015, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1959 |
|
Qualification : |
B.Sc (Hons) Mechanical Engineering from University of London. ACA
Institute of Chartered Accountants England and Wales |
|
Date of Appointment : |
07.06.2010 |
|
DIN No.: |
01262099 |
|
|
|
|
Name : |
Yutaka Jitsuo Ideguchi |
|
Designation : |
Director |
|
Address : |
4-61, Tsukushino 3-Chome, Machida, Tokyo - 1940001 |
|
Date of Birth/Age : |
04.09.1963 |
|
Date of Appointment : |
22.08.2012 |
|
DIN No.: |
05340673 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Ramanlal Patel |
|
Designation : |
Manager |
|
Address : |
Flat No. 302, Mitasu Apartment, 05 Odhav Nagar, Near Ganesh Mandir,
Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1966 |
|
Date of Appointment : |
01.07.2012 |
|
PAN No.: |
AAHPP7269H |
|
|
|
|
Name : |
Mr. Gajendra Singh Thakur |
|
Designation : |
Secretary |
|
Address : |
302, Samir, b-Wing, Sushil Samir CHS, Ashok Nagar, Kandivali
(East), Mumbai – 400101, Maharashtra,
India |
|
Date of Birth/Age : |
24.07.1979 |
|
Date of Appointment : |
09.08.2012 |
|
PAN No.: |
ADEPT3605R |
|
|
|
|
Name : |
Mr. Sundeep Sikka |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Sunil Singhania |
|
Designation : |
Head- Equity Investments |
|
|
|
|
Name : |
Mr. Amitabh Mohanty |
|
Designation : |
Head – Fixed Income |
|
|
|
|
Name : |
Mr. Ashwani Kumar |
|
Designation : |
Sr. Fund Manager - Investment Equity |
|
|
|
|
Name : |
Mr. Sailesh Bhan |
|
Designation : |
Sr. Fund Manager - Investment Equity |
|
|
|
|
Name : |
Mr. Govind Agrawal |
|
Designation : |
Fund Manager |
|
|
|
|
Name : |
Mr. Anand Gupta Devendra Gupta |
|
Designation : |
Vice President - Dealing (Equity) |
|
|
|
|
Name : |
Mr. Krishan Kumar Daga |
|
Designation : |
Vice Prsident - Equity Investment |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.08.2012
|
Names of Equity Shareholders |
No. of Shares |
Percentage of
Shares |
|
Reliance Capital Limited, India jointly with Surendra Pipara |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Hasit Shukla |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Neeraj Dwivedi |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Chetan Raval |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with V R Mohan |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Yogesh Deshpande |
100 |
0.00 |
|
Nippon Life Insurance Company, Japan |
2995200 |
26.00 |
|
Reliance Capital Limited, India |
7514200 |
65.23 |
|
Reliance ADA Group Trustees Private Limited, India |
500000 |
4.34 |
|
EP Global Markets (Cayman) Limited, Cayman Islands |
510000 |
4.43 |
|
Total |
11520000 |
100.00 |
|
Names of Preference Shareholders |
No. of Shares |
Percentage of
Shares |
|
Reliance Securities Limited, India |
1899 |
9.50 |
|
Reliance CWT India Limited, India |
1900 |
9.50 |
|
Emerging Money Mall Limited, India |
16200 |
81.00 |
|
Total |
19999 |
100.00 |
As on 22.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
30.43 |
|
Bodies
corporate |
|
69.57 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company's principal activity is to act as an investment manager to Reliance Mutual Fund ( the Fund'), to provide Portfolio Management Services ('PMS') to clients under Securities and Exchange Board of India (SEBI) |
||||
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|
||||
|
Products / Services: |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
1st Floor Lodha Excelus, Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding company : |
Reliance Capital Limited, India |
|
|
|
|
Ultimate Holding
Company : |
Reliance Innoventures Private Limited |
|
|
|
|
Wholly Owned
Subsidiary : |
|
|
|
|
|
Fellow Subsidiary: |
|
CAPITAL STRUCTURE
As on 22.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
350000 |
Preference Shares |
Rs. 100/- each |
Rs. 35.000 Millions |
|
|
Total |
|
Rs. 155.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11520000 |
Equity Shares |
Rs.10/- each |
Rs. 115.200
Millions |
|
19999 |
Preference Shares |
Rs. 100/- each |
Rs. 2.000 Millions |
|
|
Total |
|
Rs. 117.200 Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11500000 |
Equity Shares |
Rs. 10/- each |
Rs. 115.000 Millions |
|
350000 |
Preference Shares |
Rs. 100/- each |
Rs. 35.000 Millions |
|
|
Total |
|
Rs. 150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10760000 |
Equity Shares |
Rs.10/- each |
Rs. 107.600
Millions |
|
200000 |
Less : Amount recoverable from Reliance Capital Asset Management Employee Benefits Trust (ESOP Trust) |
Rs.10/- each |
Rs. 2.000
Millions |
|
50000 |
Less : Amount recoverable from ESOP Trust |
Rs.10/- each |
Rs. 0.500
Million |
|
19999 |
Preference Shares |
Rs. 100/- each |
Rs. 2.000
Millions |
|
|
Total |
|
Rs. 107.100 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
107.100 |
107.100 |
105.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11902.539 |
11015.908 |
10281.008 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12009.639 |
11123.008 |
10386.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12009.639 |
11123.008 |
10386.108 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
194.937 |
252.129 |
250.171 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
6.596 |
|
|
|
|
|
|
|
|
INVESTMENT |
6010.209 |
10283.503 |
11226.877 |
|
|
DEFERRED TAX ASSETS |
83.606 |
75.923 |
57.785 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
89.976
|
82.865 |
165.119 |
|
|
Cash & Bank Balances |
120.015
|
38.228 |
33.442 |
|
|
Other Current Assets |
44.852
|
5.909 |
15.695 |
|
|
Loans & Advances |
8490.732
|
3486.192 |
370.511 |
|
Total
Current Assets |
8745.575
|
3613.194 |
584.767 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
53.576
|
20.000 |
1679.951 |
|
|
Other Current Liabilities |
1032.653
|
1143.031 |
10.944 |
|
|
Provisions |
1938.459
|
1938.710 |
49.193 |
|
Total
Current Liabilities |
3024.688
|
3101.741 |
1740.088 |
|
|
Net Current Assets |
5720.887
|
511.453 |
(1155.321) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12009.639 |
11123.008 |
10386.108 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5413.422 |
6269.624 |
6117.749 |
|
|
|
Other Income |
1009.478 |
722.659 |
424.730 |
|
|
|
TOTAL (A) |
6422.900 |
6992.283 |
6542.479 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
1180.909 |
1270.597 |
|
|
|
|
Other expenses |
1772.453 |
2419.982 |
|
|
|
|
TOTAL (B) |
2953.362 |
3690.579 |
3628.488 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
3469.538 |
3301.704 |
2913.991 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3469.538 |
3301.704 |
2913.991 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
93.919 |
108.948 |
121.504 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
3375.619 |
3192.756 |
2792.487 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
614.529 |
580.022 |
841.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
2761.090 |
2612.734 |
1951.255 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5741.727 |
5266.100 |
3303.298 |
|
|
|
|
|
|
|
|
|
Less |
Adjustment on account
of difference between the value of liabilities plus the amount credited as
preference share capital over the value of assets taken over on account of
demerger of infrastructure division of RMIL as per High Court order dated 13
January 2011 |
0.000 |
2.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1612.820 |
1614.002 |
|
|
|
|
Tax on Proposed Dividend |
261.639 |
261.832 |
|
|
|
|
Transfer to General Reserve |
276.109 |
261.273 |
|
|
|
BALANCE CARRIED
TO THE B/S |
6352.249 |
5739.727 |
5266.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
PMS Advisory Fees |
9.821 |
9.296 |
0.000 |
|
|
|
Interest income |
0.000 |
2.496 |
1.938 |
|
|
TOTAL EARNINGS |
9.821 |
11.792 |
1.938 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
262.71 |
248.59 |
185.66 |
|
|
|
Diluted |
260.23 |
248.04 |
185.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
42.99
|
37.37
|
29.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
62.36
|
50.92
|
45.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
37.76
|
82.60
|
334.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.29
|
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.89
|
1.16
|
0.34 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Brokerage Payable (other than micro and small scale enterprises) |
53.576
|
20.000 |
1679.951 |
|
|
|
|
|
|
Total |
53.576
|
20.000 |
1679.951 |
|
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 |
NOTE
The registered office
of the company has been shifted from Reliance House, Near Mardia Plaza, Off C G
Road, Ahmedabad - 380006, Gujarat, India to the present address w.e.f.
23.07.2011
BACKGROUND
Subject was incorporated on 24 February 1995.
The principal shareholder of the Company as at 31 March 2012 is Reliance Capital Limited.
The Company’s principal activity is to act as an investment manager to Reliance Mutual Fund (the Fund) and to provide Portfolio Management Services (PMS) to clients under Securities and Exchange Board of India (SEBI) (Portfolio Managers) Regulations, 1993. The Company is registered with SEBI under the SEBI (Mutual Funds) Regulations, 1996. The Company manages the investment portfolio of the Fund and provides various administrative services to the Fund as laid down in the Investment Management Agreement dated 12 August 1997.
New Schemes Launched
:
During the year under review, RMF launched the following new schemes
· Reliance Dual Advantage Fixed Tenure Fund II
· Reliance Fixed Horizon Fund XX
· Reliance Fixed Horizon Fund XXI
· Reliance Fixed Horizon Fund XXII
As on March 31, 2012, RMF has a well rounded portfolio of 47 schemes under various categories such as Equity, Debt, Liquid, Gold, Exchange Traded Fund, Fixed Maturity Plans and Interval Funds.
Reliance DUAL
ADVANTAGE FIXED TENURE FUND II Plan A
Reliance Dual Advantage Fixed Tenure Fund II Plan A is a 3 year close-ended hybrid scheme that seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure. The investment philosophy of the scheme would be to invest into a combination of fixed income instruments maturing on or before the maturity of the scheme and equity and equity related instrument (predominantly through long call options). The fixed income allocation to the portfolio would be predominantly deployed into securities maturing on or before the maturity of the fund. The strategy would be to buy-and-hold the securities, thereby minimizing any interest rate volatility. Therefore, the fixed income portion of the investment would be largely on an accrual basis. The equity portfolio exposure would be in equity and equity-related instruments, primarily
AWARDS AND
RECOGNITION
RMF continued to receive various awards and accolades during the year. Few of prominent awards received by RMF are listed below:
- ICRA Mutual fund Awards 2012
RMF won 4 awards in the 9th Annual ICRA Mutual Fund Awards 2012.
· Reliance Liquidity Fund was ranked "A Seven Star Fund" and awarded "Gold Award" in Open Ended Ultra Short Term Category for 3 year period ending December 31 2011.
· Reliance Equity Opportunities Fund was ranked "A Five Star Fund" in Open Ended Equity - Dynamic for 1 year and 3 year period ending December 31 2011.
· Reliance Growth Fund has received "A Five Star Fund" in Open Ended Equity - Dynamic for 1 year period ending December 31 2011.
2. CNBC- TV -18
CRISIL MUTUAL FUND AWARD 2012
RMF won two awards in the CNBC- TV -18 CRISIL Mutual Fund Award 2012. The awards are:
1. Most Investor Friendly Fund House of The Year; and
2. Most Innovative Fund of The Year for Reliance Gold Savings Fund
3. Top 50 Financial
Inclusion Projects in India
On January 5, 2012, regarded as the Financial Inclusion Day in India by Skoch Consultancy Services Private Limited, two (2) projects of Reliance Mutual Fund were rated among Top 50 Financial Inclusion Projects in India during 2011, which are:
·Reliance AnyTime Money Card
· Edge - The Learning Academy
These projects have been recognized from the banking and financial services sector for promoting inclusive growth and helping poverty alleviation from across urban and rural India. These projects will be published as best practice case studies in Inclusion magazine and global edition books and included in Skoch Online Knowledge Repository on Best Practices - one of the World's largest online knowledge repositories.
4. RMF was nominated for the ET Retail Awards in the 'Innovative Operating Idea of the year' category for the initiative 'Reliance Any Time Money Card'.
5. Money Life, a personal finance magazine, has awarded the ?Best Fund House 2011? to RMF based on 5 year performance of Equity Funds.
6. RCAM has been adjudged ?Best BFSI Asset Management Company by Business and Economy Magazine.
7. Wealth Forum Advisor Confidence Survey - Best AMC in terms of Innovation (Innovative Products, Services and New Sales Ideas) and amongst the Top 3 in Distributor Engagement, Training and support.
8. Shine HR
Leadership Awards , Star News HR and Leadership Awards
These awards are a part of the World HRD Congress Initiatives, and presented by Ascent.
The categories in which the Company had participated and have won at Shine are:
· The Award for HR Champion – CEO
· Award for Best Learning and Development Strategy
· Award for Best HR practices in Rewards and Recognition strategies
9. Star News HR and
Leadership Awards
The Company won at Star News HR and Leadership Awards:
Award for Learning and Talent Initiative Excellence
· Award for Best Talent Management Strategy
10. Global HR Excellence Awards
The category in which the Company won at Global HR Excellence Awards is Organization with Innovative HR practices.
11. Asia's Best
Employer Brand Awards:
The category in which the Company won at Asia's Best Employer Brand Awards are:
· Award for Innovative Retention Strategy
· Award for Excellence in Training
12. RCAM bagged the Asia's 10 th Best Employer of the Year Award for 2011-12.
FUTURE OUTLOOK
The Indian Mutual Fund industry is growing steadily in the financial services sector with 44 AMCs currently operating in the country. The industry AAUM has grown at a CAGR of 25% since 1965 and at a CAGR of 10% in the last three years, with Rs 6648240.000 millions of average assets as on March 31, 2012.
The Company intends to aggressively pursue growth opportunities in the fund management and investment advisory space, both at the domestic as well as at the international level. The Company expects that an emerging market like India would experience a sustained growth rate. Given the country’s high household savings rate coupled with the current low levels of investments by retail investors where only less than 3% of the household savings are channeled into capital markets, the Company believes that the Mutual Fund Industry has a huge opportunity for growth and expansion. Being one of the largest players in the Industry, the Company will continue investing in growing the market size, achieving product innovation, educating the investors, increasing the distribution reach and enhancing customer service infrastructure with aggressive expansion strategies.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Guarantees to Banks and Financials Institutions |
101.692 |
|
Claims against the Company not acknowledged as debts |
22.683 |
|
Income tax demand not acknowledged as debts |
10.682 |
|
Total |
135.057 |
FIXED ASSETS
v
Tangible
assets
- Computer
- Vehicle
- Office Equipment
- Furniture
- Leasehold Improvements
v
Intangible
assets
- Software
WEBSITE DETAILS
UBS GLOBAL ASSET MANAGEMENT AND RELIANCE CAPITAL ASSET MANAGEMENT SIGN
MOU
Under the Memorandum
of Understanding (MoU) signed, UBS Global Asset Management and Reliance Capital
Asset Management (RCAM) will explore opportunities for developing, structuring,
managing and distributing/marketing each other's investment products,
capabilities and services, both inside and outside India.
Hong Kong, 1 February 2013 - Under the MoU both companies
will pursue opportunities presented by the Indian asset management market which
has grown by around 13% per annum since 2008. Currently worth USD 160 billion,
not only is the market expected to post compound annual growth of
10% over the next several years but it is also characterized by low penetration
levels, increasingly sophisticated investors, and positive momentum in pension
reform.
"UBS has rich experience across all major traditional and alternative
asset classes and is one of the largest asset managers in the world with extensive
product management and distribution capabilities in every region. Its
experience globally, coupled with best-in-class international practices, will
help us significantly expand our global footprint.
"In return, RCAM offers its deep understanding and best-in-class India
investment capabilities. Together we can offer world-class investment
opportunities to both retail and institutional investors in India and
abroad," said Sundeep SIKKA, CEO of Reliance Capital Asset Management.
"The MoU allows UBS Global Asset Management to leverage Reliance's strong
capabilities and performance in its home market and provide our clients with
access to high-quality products and services in India's fast-growing fund
management industry. At the same time, RCAM will benefit from UBS's
international expertise and client reach," said Kai SOTORP, Head of Asia
Pacific of UBS Global Asset Management.
NIPPON LIFE INSURANCE PICKS 26% STAKE IN RELIANCE CAPITAL ASSET FOR RS
14500.000 MILLIONS
NEW DELHI, JANUARY 19
Reliance Capital Asset Management has sold 26 per cent stake to Nippon Life Insurance Company in a deal signed in Mumbai on Thursday for Rs 14500.000 millions. This values the company at Rs 56000.000 millions.
According to BL Research Bureau data, at Rs 14500.000 millions for a 26 per cent stake, the deal values Reliance Mutual Fund at 6.8 per cent of its assets under management (as of December 2011 quarter).
Industry experts unanimously agree that the current valuation is fairly priced. “The valuation is fair for a lot of reasons. Their leadership, retail investor spread, high equity allocation and the fact that the deal is happening at the worst of times, all call for a fair valuation,” said Mr Dhirendra Kumar, CEO, Value Research. Equities constitute a significant portion — about 40 per cent — of the mutual fund house's assets under management.
Mr Jagannadham Thunuguntla, Strategist and Head of Research, SMC Global Securities, concurs on the valuation, but adds that the money is going into Reliance Capital Asset Management as a whole, and that its mutual fund arm may not be a direct beneficiary. “The overall market mood is subdued. So, by selling stake, the company will be able to get new inflow as the mutual fund business is not picking very much.”
Reliance Mutual Fund is the second largest asset management company in the country with a total asset base of Rs 823050.000 millions at the quarter ending December 2011. The current market share of the company is around 12 per cent, down from 14.5 per cent for the quarter ending March 2011.
In the last calendar year, Reliance Mutual Fund lost about 20 per cent of its AUM owing to poor equity market performance. At the beginning of the year, the AUM of the fund house stood at Rs 1 lakh crore.
This is the second investment by Nippon Life Insurance in the Anil Ambani-promoted Reliance Capital group. Last year in March, Nippon Life Insurance bought 26 per cent stake in Reliance Life Insurance for Rs 30620.000 millions, making for a valuation of Rs. 115000.000 millions for the latter.
RELIANCE CAPITAL ASSET MANAGEMENT FORMS DISTRIBUTION TIE-UP
WITH INDIAN OVERSEAS BANK
INDIAN OVERSEAS BANK TO DISTRIBUTE RELIANCE MUTUAL FUND SCHEMES
TO ITS 24 MILLION CUSTOMERS ACROSS INDIA
RELIANCE MUTUAL FUND SCHEMES TO BE SOLD ACROSS 2,689 INDIAN OVERSEAS
BANK BRANCHES IN INDIA
TIE-UP TO FOCUS ON REACHING OUT TO BANK CUSTOMERS
IN TIER II AND III CITIES
RELIANCE TO FACILITATE PRODUCT AND SOFT SKILLS TRAINING
TO SUPPORT DISTRIBUTION
Chennai, September
13, 2012: Reliance Capital Asset Management (RCAM), part of Reliance Capital
Limited,
today announced a
distribution tie-up with Indian Overseas Bank (IOB), one of the leading
nationalized banks in
India.
This was announced
today by Mr. Sundeep Sikka, CEO, RCAM and Mr. M Narendra, Chairman and Managing
Director, Indian
Overseas Bank, here today.
As per the
agreement, Indian Overseas Bank will be selling Reliance Mutual Fund schemes
through its 2,689
branches spread
across the country.
“We are delighted
to join hands with Indian Overseas Bank as a distribution partner and are
confident that this agreement would help us expand our customer base,
especially in Tier II and III cities, leveraging on the wide network of Indian
Overseas Bank branches across the country’’ said Mr. Sikka.
RCAM will be
reaching out to over 24 million IOB customers across the country through this
initiative. The bank
has a strong
footprint in the Tier-I and Tier II cities, a key focus for RCAM.
“Our continuous
effort is to provide one stop banking and investment solutions to our
customers. We are proud to
be associated with
Reliance Capital Asset Management. This association will help us work together
to enhance business opportunities. This would enable the Indian Overseas Bank
branches to operate as a financial super market and help in strengthening the
relationship of the existing and potential customer base, providing an
opportunity to cross-sell,’ said Mr. M Narendra, Chairman and Managing
Director, Indian Overseas Bank.
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 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] on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
65 |
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.