|
Report Date : |
26.11.2013 |
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) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-220793 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 114.700
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 |
|
|
|
|
Line of Business
: |
The Company's principal activity is to act as an investment manager to Reliance Mutual Fund ( the Fund'), to provide Portfolio Management Services ('PMS') to clients under Securities and Exchange Board of India (SEBI) |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 49000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Reliance Capital Limited”. It is a well – established and reputed company having fine track
record. There appears dip in the net profitability of the company. However,
net worth of the company appears to be strong. Financial position of the
company is sound and healthy. 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.
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 |
ICRA |
|
Rating |
Reliance Liquidity Fund: A1+MFS |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
September 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Reliance Floating Rate Fund – Short Term Plan: AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
September 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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-30994600)
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 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Corporate Office : |
570, Rectifier House, 2nd Floor, Naigaum Cross Road, Next to
Royal Industrial Estate, Wadala, Mumbai – 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479800 |
|
|
|
|
Branch Office : |
11th and 12th Floor, One India Bulls Centre,
Tower 1 Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinston Road, Mumbai
- 400013, Maharashtra, India |
|
Tel. No.: |
91-22-30994600 |
|
Fax No.: |
91-22-30994699 |
DIRECTORS
As on 27.06.2013
|
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 : |
Mr. Shinichi Okamoto |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
3-8-24-204, Higashikaigan Minami, Chigaski-Shi, Kanagawa, Japan –
253-0054 |
|
Date of Birth/Age : |
04.06.1969 |
|
Date of Appointment : |
27.06.2013 |
|
DIN No.: |
06587324 |
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 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.06.2013
|
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 Madan Chaturvedi |
100 |
0.00 |
|
Reliance Capital Limited, India jointly with Parul Jain |
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 |
Equity Share Break up (Percentage of Total Equity)
As on 27.06.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
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) |
||||
|
|
|
||||
|
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 N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Ultimate Holding
Company: |
·
Reliance Innoventures Private Limited |
|
|
|
|
Holding Company: |
·
Reliance Capital Limited |
|
|
|
|
Wholly Owned
Subsidiary: |
·
Reliance Asset Management (Mauritius) Limited ·
Reliance Asset Management (Singapore) Pte Limited ·
Reliance Capital Asset Management (UK) Plc. ·
Reliance Asset Management (Malaysia) SDN BHD |
|
|
|
|
Subsidiary: |
·
Reliance Capital Pension Fund Limited |
|
|
|
|
Fellow
Subsidiary: |
·
Reliance General Insurance Company Limited ·
Reliance Money Express Limited ·
Reliance Gilts Limited, India CIN: U66010MH2000PLC128301 ·
Reliance Capital Trustee Company Limited ·
Reliance Composite Insurance Broking Limited ·
Reliance Venture Asset Management Private Limited
(formerly Reliance Technology Ventures Private Limited ·
Reliance Money Precious Metals Private Limited
(formerly Reliance Capital Research Private Limited.) ·
Reliance Equity Advisors (India) Limited ·
Reliance Consultants (Mauritius) Limited ·
Reliance Equities International Private Limited ·
Reliance Home Finance Limited (formerly Reliance
Home Finance Private Limited) ·
Reliance Capital (Singapore) Pte Limited ·
Quant Investments Services Private Limited ·
Reliance Securities Limited ·
Reliance Commodities Limited ·
Reliance Financial Limited ·
Reliance Alternative Investments Services Private
Limited ·
Quant Broking Private Limited, India CIN: U67110TZ2007PTC015839 ·
Quant Capital Advisors Private Limited ·
Quant Capital Finance and Investments Private
Limited ·
Quant Capital Private Limited ·
Quant Commodities Private Limited ·
Quant Commodity Broking Private Limited ·
Quant Securities Private Limited ·
Reliance Exchangenext Limited ·
Indian Agri Services Private Limited ·
Emerging Money Mall Limited ·
Reliance Spot Exchange Infrastructure Limited ·
Reliance Wealth Management Limited ·
Reliance Investment Banking Services Limited ·
QOPPA Trading Private Limited ·
QCAP Trade Private Limited (Formerly Valankulam
Investments and Trading Private Limited) |
CAPITAL STRUCTURE
As on 27.06.2013
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 31.03.2013
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 |
|
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. 114.700 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 |
114.700 |
107.1000 |
107.100 |
|
(b) Reserves & Surplus |
12090.702 |
11902.539 |
11015.908 |
|
(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) |
12205.402 |
12009.639 |
11123.008 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
28.241 |
32.134 |
33.369 |
|
Total Non-current Liabilities (3) |
28.241 |
32.134 |
33.369 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
502.691 |
818.721 |
20.000 |
|
(c) Other current
liabilities |
347.207 |
267.507 |
1143.031 |
|
(d) Short-term provisions |
1918.590 |
1906.324 |
1905.341 |
|
Total Current Liabilities (4) |
2768.488 |
2992.552 |
3068.372 |
|
|
|
|
|
|
TOTAL |
15002.131 |
15034.325 |
14224.749 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
157.101 |
184.280 |
243.590 |
|
(ii) Intangible Assets |
36.502 |
10.656 |
8.539 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3135.684 |
2235.863 |
2196.936 |
|
(c) Deferred tax assets (net) |
80.741 |
83.606 |
75.923 |
|
(d) Long-term Loan and Advances |
7830.379 |
8267.345 |
3312.998 |
|
(e) Other Non-current assets |
34.190 |
31.874 |
0.672 |
|
Total Non-Current Assets |
11274.597 |
10813.624 |
5838.658 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2598.116 |
3774.345 |
8086.567 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
121.526 |
89.976 |
82.865 |
|
(d) Cash and cash
equivalents |
403.395 |
120.015 |
38.228 |
|
(e) Short-term loans and
advances |
558.506 |
223.387 |
173.193 |
|
(f) Other current assets |
45.991 |
12.978 |
5.238 |
|
Total Current Assets |
3727.534 |
4220.701 |
8386.091 |
|
|
|
|
|
|
TOTAL |
15002.131 |
15034.325 |
14224.749 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5899.817 |
5413.422 |
6269.624 |
|
|
|
Other Income |
1226.924 |
1009.478 |
722.659 |
|
|
|
TOTAL (A) |
7126.741 |
6422.900 |
6992.283 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
1325.232 |
1180.909 |
1270.597 |
|
|
|
Other expenses |
2586.252 |
1772.453 |
2419.982 |
|
|
|
Exceptional items |
556.411 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
4467.895 |
2953.362 |
3690.579 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2658.846 |
3469.538 |
3301.704 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2658.846 |
3469.538 |
3301.704 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
78.418 |
93.919 |
108.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2580.428 |
3375.619 |
3192.756 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
605.046 |
614.529 |
580.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1975.382 |
2761.090 |
2612.735 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8325.607 |
6350.249 |
5739.727 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
PMS Advisory Fees |
7.343 |
9.821 |
9.296 |
|
|
|
Interest income |
0.000 |
0.000 |
2.496 |
|
|
TOTAL EARNINGS |
7.343 |
9.821 |
11.792 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
177.93 |
262.71 |
248.59 |
|
|
|
Diluted |
177.00 |
260.23 |
248.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
27.72
|
42.99 |
37.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
43.74
|
62.36 |
50.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.89
|
26.55 |
26.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.28 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.41 |
2.73 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE
The registered
office of the company has been shifted from Reliance House, Near Mardia Plaza,
Off C G Road, Ahmedabad - 380006, Gujarat, India to the present address w.e.f.
23.07.2011
BACKGROUND
The Company was incorporated
on 24 February 1995.
The principal
shareholder of the Company as at 31 March 2013 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.
FINANCIALS
The standalone and
consolidated financial statements of the Company for the year ended March 31, 2013,
have been prepared under the historical cost convention, in accordance with the
generally accepted accounting principles in India and the provisions of the
Companies Act, 1956. The financial highlights (on a consolidated and standalone
basis) of the Company for the year ended March 31, 2013.
In accordance with
Circular No. 2/2011 dated 8th February, 2011, issued by the Ministry
of Corporate Affairs, Government of India, the Board of Directors has resolved
on April 19, 2013, to accord their consent for not attaching to the Company’s
annual accounts, the Balance sheets of its subsidiary companies. The
Consolidated Financial Statements of the Company, along with that of its
subsidiaries, for the year ended March 31, 2013 (duly audited by their respective
statutory auditors) are forming part of this Annual Report.
The annual
accounts of all the subsidiary companies and the related detailed information
will be made available to the shareholders of the Company seeking such
information at any point of time. The annual accounts of all the subsidiary
companies will also be kept at the Corporate Office of the Company, for
inspection by the shareholders. The Company shall furnish a hard copy of
details of accounts of subsidiaries to any shareholder on demand.
Awards and Recognition
RMF received
various awards and accolades during the year. Few of the prominent awards
received by RMF, are listed below:
Zee Business Brand
Excellence Awards
RCAM bagged 3
Awards at the Zee Business Brand Excellence Awards held in Mumbai on
22nd November 2012.
Brand Excellence
Award in BFSI Sector – RCAM
Best Customer
Centric Brand Award – RCAM
CEO of the year
Award (Private Sector) - Sundeep Sikka
This event was organized
by World Brand Congress along with Stars of the Industry Group. The Zee
Business Brand Excellence Award is an independent brand recognition exercise
initiated to give recognition to those brands, CEO's and marketers who have
achieved extraordinary success from the innovative leadership and effective
marketing practices.
Lipper Awards
In the Mixed Asset
INR Aggressive
RRSF Balanced Growth ranked Best Fund for 5 year period out of 37
schemes in the class.
In the Equity
India Classification –
Reliance Growth
Fund ranked Best Fund for 10 year period out of 7 schemes in the category.
India Pension Fund
Congress 2012
Reliance Capital
Pension Fund Ltd (RCPFL, subsidiary of RCAM) won the Best Product Innovation
Award in the India Pension Fund Congress 2012. This high profile event was
organized by Assocham, Morningstar and Edge Advisory Services along with
Investment Pension Asia. This award category had nominations from all pension
fund providers in India, including insurance companies like LIC, SBI etc and
the award was bagged by RCPFL.
Corporate Counsel
Leadership Summit and Awards, 2013
RCAM's Legal Team
was adjudged "Best In-House Legal Team of the Year" in the
"Banking and Finance Sector" [Corporate Counsel Leadership Summit and
Awards, 2013 held on 25th January, 2013 at Ramada Inn, Mumbai]
Legal Counsel
Congress and Awards, 2013 Mr. Muneesh Sud [Head of Legal, Secretarial and
Compliance] was the Runner- up in the "General Counsel of the Year"
category of awards [Legal Counsel Congress and Awards, 2013 held on 8th
January, 2013 at Trident, BKC, Mumbai].
7th Social and
Corporate Governance Awards
RCAM has won the Best
Corporate Social Responsibility Practice Award at the 7th Social and
Corporate Governance Awards at a grand function held on 18th February, 2013
at Taj Lands End, Mumbai.
This is in
recognition of RCAM?s efforts in the field of CSR.
Best Conservative
Allocation Fund - Reliance Monthly Income Plan
Reliance Monthly
Income Plan was awarded Category Winner: Best Conservative Allocation Fund by
MORNINGSTAR at the award ceremony held on March 20, 2013
Asian LandD
Leadership Awards Dubai
RCAM bagged the
prestigious Asian Learning and Development Leadership Awardsfor Outstanding
contribution to the cause of Learning in Dubai on 25th September, 2012 at a
function held at The Taj Palace, Dubai. Many leading Indian and international
organisations had participated these awards.
RCAM bagged this
award in recognition of many of our best practices to develop our empanelled
partners and thereby helping the cause of learning at large, besides ensuring
quality and consistency in training nitiatives.
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 assets have grown at a CAGR of
24.2% since 1965 and at 22.8% in FY 2012-13, with Rs 8.16 lakh Crs of assets as
per quarter ended Mar 2013.
The Company
continues to aggressively pursue growth opportunities in the fund management
and investment advisory space, both at the domestic as well as at the
international level. 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. The Company expects that an emerging market like India
would experience a sustained growth rate. Over 74% of the Industry AUM
originates from the Top 5 cities which leaves untapped potential in other
locations. In line with the SEBI regulations, the Company intends to improve
penetration levels in Tier III, Tier IV locations and increase use of technology
to improve the investor experience. 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.
FIXED ASSETS
Tangible assets
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipment’s
·
Other equipment’s
·
Leasehold improvements
Intangible assets
·
Computer software
PRESS RELEASES
RELIANCE
CAPITAL ASSET MANAGEMENT HIKES STAKE IN HT MEDIA
OCTOBER 04, 2013
Reliance Capital Asset Management has increased its stake in HT Media by 1.06 percent, by acquiring 25 lakh shares in the open market.
Reliance Capital Asset Management has increased its stake in HT Media by 1.06 percent, by acquiring 2.500 Millions shares in the open market. Reliance Capital Asset Management, which had 4.03 percent stake earlier, hiked its shareholding in the company to 5.10 percent by acquiring shares on October 1 2013, HT Media said in a filing to the BSE. During the first quarter ended June 30, 2013, HT Media reported 21 percent increase in consolidated net profit at Rs 515.800 Millions as against Rs 426.000 Millions in the same period a year ago, driven by higher revenues from advertising. Net sales during the quarter went up by 10 percent to Rs 5322.000 Millions. Advertising revenues went up by 10 percent to Rs 4095.000 Millions as against Rs 3725.000 Millions in the corresponding quarter a year ago. Also Read: Cabinet nod to Jet-Etihad stake sale deal Rel Capital stock price On November 26, 2013, at 11:18 hrs Reliance Capital was quoting at Rs 367.00, up Rs 1.90, or 0.52 percent. The 52-week high of the share was Rs 508.00 and the 52-week low was Rs 290.00. The company's trailing 12-month (TTM) EPS was at Rs 12.59 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 29.15. The latest book value of the company is Rs 467.67 per share. At current value, the price-to-book value of the company is 0.78.
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.62.58 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.