MIRA
INFORM REPORT
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Report Date : |
11.12.2014 |
IDENTIFICATION DETAILS
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Name : |
INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED |
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Registered
Office : |
The IL and FS Financial Centre, Plot No. C-22, G Block, Bandra-Kurla Complex,
Bandra (East), Mumbai - 400051, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.09.1987 |
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Com. Reg. No.: |
11-044571 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5845.910 Millions |
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CIN No.: [Company Identification
No.] |
U65990MH1987PLC044571 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI00330B |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Commercialization and development of
infrastructure projects and creation of value added financial services. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (81) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established and reputed company having excellent
record. Financial position of the company seems to be sound. Fundamentals are
strong and healthy. The rating takes into consideration strong institutional ownership,
experienced management, expertise in providing advisory serives and financing
in infrastructure projects. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for any normal 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.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Non-convertible Debentures: “AAA” |
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Rating Explanation |
Have highest degree of safety and carry
lowest credit risk. |
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Date |
20.10.2014 |
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Rating Agency Name |
CARE |
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Rating |
Short term borrowing: “A1+” |
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Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
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Date |
20.10.2014 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-26533333)
LOCATIONS
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Registered Office/ Headquarter : |
The IL and FS Financial Centre, Plot No. C-22, G Block, Bandra-Kurla
Complex, Bandra (East), Mumbai-400051, |
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Tel. No.: |
91-22-26533333/ 3232 |
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Fax No.: |
91-22-26533038/ 26533069/ 26533042 |
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E-Mail : |
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Website : |
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Branch Offices : |
Located at: ·
Kolkata Chennai Gurgaon |
DIRECTORS
As on 22.09.2014
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Name : |
Mr. |
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Designation : |
Whole-time director |
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Address : |
1201/1202, Vinayak Angan, |
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Date of Birth/Age : |
04.10.1952 |
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Date of Appointment : |
06.07.1989 |
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Voter ID No.: |
MT/05/029/000986 |
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DIN No.: |
00002392 |
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Name : |
Mr. Vijay Kumar Sharma |
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Designation : |
Nominee Director |
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Address : |
6-A, Jeevan Jyot, |
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Date of Birth/Age : |
19.12.1958 |
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Date of Appointment : |
29.08.2013 |
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DIN No. : |
02449088 |
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Name : |
Mr. Supratim Bandyopadhyay |
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Designation : |
Nominee Director |
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Address : |
12, Antariksha 95/96, Kakasaheb Gadgil Marg, Dadar, Mumbai
- 400028, |
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Date of Birth/Age : |
17.01.1958 |
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Date of Appointment : |
29.08.2013 |
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DIN No. : |
03558215 |
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Name : |
Mr. Sunil Behari Mathur |
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Designation : |
Director |
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Address : |
A-20, Geetanjali Enclave, |
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Date of Birth/Age : |
11.10.1944 |
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Date of Appointment : |
30.01.2005 |
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DIN No.: |
00013239 |
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Name : |
Mr. Balkrishna Vinayak Chaubal |
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Designation : |
Nominee Director |
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Address : |
D-9, |
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Date of Birth/Age : |
22.12.1954 |
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Experience : |
22.05.2014 |
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DIN No. : |
06497832 |
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Name : |
Mr. Birupaksha Mishra |
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Designation : |
Nominee Director |
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Address : |
Flat No. 703, Wing I, Wallace Apartment, Naushir Barucha
Marg, |
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Date of Birth/Age : |
26.01.1961 |
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Date of Appointment : |
29.05.2014 |
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DIN No. : |
06884225 |
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Name : |
Mr. Yoshihiko Miyauchi |
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Designation : |
Nominee director |
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Address : |
4-15-10 Takanawa, Minato-ku, |
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Date of Birth/Age : |
13.09.1935 |
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Date of Appointment : |
23.03.1993 |
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DIN No.: |
00991171 |
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Name : |
Hiroshi Nishio |
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Designation : |
Nominee Director |
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Address : |
6-19-2, No. 420, Ikuta, Tama-Ku, Kawasaki-Shi, |
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Date of Birth/Age : |
05.08.1959 |
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Date of Appointment : |
04.03.2014 |
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DIN No. : |
06827437 |
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Name : |
Mr. Sanjeev Harsukh Doshi |
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Designation : |
Nominee director |
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Address : |
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Date of Birth/Age : |
30.12.1972 |
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Date of Appointment : |
11.07.2008 |
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DIN No.: |
02237584 |
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Name : |
Mr. Ravindra Chandra Bhargava |
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Designation : |
Director |
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Address : |
House No 220, Sector 15-A, Noida, District |
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Date of Birth/Age : |
30.07.1934 |
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Date of Appointment : |
20.08.1990 |
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DIN No.: |
00007620 |
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Name : |
Mr. Michael Philip Pinto |
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Designation : |
Director |
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Address : |
405, Shalaka, |
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Date of Birth/Age : |
27.05.1943 |
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Date of Appointment : |
07.07.2004 |
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DIN No.: |
00021565 |
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Name : |
Mr. Hari Sankaran |
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Designation : |
Managing director |
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Address : |
901/1001, Everglades, Shobha Sgar CHS, Plot 592, TPS III, 21st
Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
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Date of Birth/Age : |
19.02.1961 |
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Date of Appointment : |
16.06.1998 |
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DIN No.: |
00002386 |
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Name : |
Mr. Arun Kumar Saha |
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Designation : |
Whole-time Director |
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Address : |
Flat No. E, Raheja Terrace, |
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Date of Birth/Age : |
27.03.1953 |
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Date of Appointment : |
01.02.1995 |
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Voter ID No.: |
MT/08/036/207286 |
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DIN No.: |
00002377 |
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Name : |
Mr. Jaithirth Rao |
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Designation : |
Director |
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Address : |
61, Umang Kashibai Navrange Marg, Gamdevi, Mumbai – 400007,
Maharashtra, India |
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Date of Birth/Age : |
12.07.1952 |
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Date of Appointment : |
30.08.2012 |
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DIN No.: |
00025289 |
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Name : |
Mr. Harukazu Yamaguchi |
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Designation : |
Alternate director |
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Address : |
6-3-2-601 Kachidoki, Chuo-Ku, Tokyo 1040054, Japan |
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Date of Birth/Age : |
09.12.1962 |
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Date of Appointment : |
21.11.2012 |
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DIN No.: |
03535391 |
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Name : |
Mr. Makoto Shioda |
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Designation : |
Alternate director |
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Address : |
Grand Hyatt Service Apartments, Off Western Express Highway, Santacruz
(East), Mumbai - 400055, Maharashtra, India |
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Date of Birth/Age : |
10.03.1956 |
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Date of Appointment : |
22.04.2009 |
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DIN No.: |
02158375 |
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Name : |
Mr. Harish Hansubhai Engineer |
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Designation : |
Nominee Director |
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Address : |
B-11, Sea Face Park, 50, Bulabhai Desai Road, Mumbai -
400026, Maharashtra, India |
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Date of Birth/Age : |
01.09.1948 |
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Date of Appointment : |
04.03.2014 |
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DIN No. : |
01843009 |
KEY EXECUTIVES
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Name : |
Mr. Avinash Atmaram Bagul |
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Designation : |
Secretary |
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Address : |
D-101, Shiv Chhaya CHS, Eksar Road, Borivali (West), Mumbai – 400091,
Maharashtra, India |
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Date of Birth/Age : |
26.09.1959 |
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Date of Appointment : |
01.08.2006 |
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PAN No.: |
AABPB5150B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 22.09.2014
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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Public financial companies |
25.34 |
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Nationalised or other banks |
15.32 |
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Mutual funds |
0.80 |
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Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
34.81 |
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Bodies corporate |
9.82 |
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Directors or relatives of Directors |
0.16 |
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Other top fifty shareholders |
13.45 |
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Others |
0.30 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Commercialization and development of infrastructure
projects and creation of value added financial services. |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
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Central Bank of India, Central Bank Mmo
Building, 6th Floor, 55 Mahatma Gandhi Marg, Fort, Mumbai -
400001, Maharashtra, India
Axis Bank Limited Bank of India Canara Bank Calyon Bank HDFC Bank Limited Indian Bank IDBI Bank Limited Punjab and Sind
Bank Punjab National
Bank Oriental Bank of
Commerce The Jammu and
Kashmir Bank Limited The Karur Vysya
Bank Limited The Ratnakar Bank
Limited Syndicate Bank State Bank of
Travancore State Bank of
Bikaner and Jaipur Union Bank of
India |
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Facilities : |
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Financial Institution : |
Centbank Financial Services Limited, 15-16 Bajaj Bhawan, 1st Floor, Opposite Inox Multiplex, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Auditors : |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
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Address : |
India Bulls Finance Centre,Tower 3,27 to 32nd Floor, Senapati Bapat Marg, Elphinstone Road (West), Worli, Mumbai – 400013, Maharashtra, India |
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Tel. No. : |
91-22-61854000 |
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Fax No. : |
91-22-61854501/ 4601 |
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Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Investing Parties : |
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Life
Insurance Corporation of India ORIX Corporation,
Japan |
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Subsidiaries - Direct : |
·
Andhra
Pradesh Expressway Limited (upto March 26, 2014) Avash Logistic
Park Private Limited (from November 29, 2013) Chhattisgarh
Highway Development Company Limited IIDC Limited
(formerly IL&FS Infrastructure Development Corporation Limited) CIN
No.: U45201DL1999PLC125988 IL&FS Academy
of Applied Development (from January 21, 2014) IL&FS
Airports Limited IL&FS
Education and Technology Services Limited IL&FS Energy
Development Company Limited CIN
No.: U40300DL2007PLC163679 IL&FS
Environmental Infrastructure and Services Limited CIN
No.: U90001DL2007PLC166554 IL&FS
Financial Services Limited CIN
No.: U65990MH1995PLC093241 IL&FS
Investment Managers Limited IL&FS Maritime
Infrastructure Company Limited CIN
No.: U45201MH2006PLC165803 IL&FS Paradip
Refinery Water Limited CIN
No.: U41000TN2009PLC073439 IL&FS
Portfolio Management Services Limited CIN
No.: U74140MH2006PLC165363 IL&FS
Securities Services Limited CIN
No.: U74992MH2006PLC163337 IL&FS
Township and Urban Assets Limited CIN
No.: U70109MH1969PLC014184 IL&FS
Transportation Networks Limited IL&FS Trust
Company Limited IL&FS Water
Limited CIN
No.: U45400TN2007PLC071125 Jharkhand
Accelerated Road Development Company Limited Khambhat Port
Limited CIN
No.: U63032MH2008PLC182489 MP Toll Roads
Limited Sealand
Warehousing Private Limited (from November 29, 2013) Tamil Nadu Water
Investment Company Limited |
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Subsidiaries - Indirect : |
·
Alcantarilla
Fotovltanica SA Andhra Pradesh
Expressway Limited (from March 27, 2014) Antenea Seguridad
Y Medico Ambieenete SA Apptex Manpower
Development Services Limited Apptex Marketing
Services and Solutions Limited Area De Servicio
Coiros SL Area de Servicio
Punta Umbria SL Avash Logistic
Park Private Limited (upto November 28, 2013) Badarpur Tollway
Operations Management Limited Baleshwar
Kharagpur Expressway Limited Barwa Adda
Expressway Limited (from April 23, 2013) Beasolarta, SLU Bhojpur Biomass
Power Company Limited Bhutan Education
City Private Limited Charminar
Robopark Limited Chenani Nashri
Tunnelway Limited CIESM Intevia SA Conservacion Sde
Infraestructuras De Mexico SD DE CV Control 7, S. A CriticaL Paradigm
Gestlat BPO Private Limited Cuddalore Solar
Power Private Limited (from May 24, 2013) Dehradun Rural
Development Initiative Limited East Delhi Waste
Processing Company Private Limited East Hyderabad
Expressway Limited Elsamex Brasil
LTDA Elsamex
Construcao E Manutentcao LTDA (Brazil) (from June 26, 2013) Elsamex India
Private Limited Elsamex
International, SL Elsamex LLC, USA
(from September 26, 2013) Elsamex
Maintenance Services Limited (from September 12, 2013) Elsamex Portugal
S.A Elsamex SA ESM Mantenimiento
Integral, S.A. DE C.V Free Trade
Warehousing Private Limited Futureage
Infrastructure India Limited GIFT Parking
Facilities Limited (from January 9, 2014) Goodearth
Shipbuilding Private Limited Greater Noida
Integrated Warehousing Private Limited GRICL Rail Bridge
Development Company Limited (from February 24, 2014) Grusamar Albania
SHPK Grusamar
Engenharia and Consultoria Brasil LTDA (from August 29, 2013) Grusamar India
Limited Grusamar
Ingenieria Y Consulting, SL (Grusamar) Gujarat
Integrated Maritime Complex Private Limited Gujarat Road and
Infrastructure Company Limited Haldia Free Trade
Warehousing Private Limited Hazaribagh Ranchi
Expressway Limited IIML Advisors LLC IIML Asset
Advisors Limited IIML Fund
Managers (Singapore) Pte Limited IIPL USA LLC
(from November 20, 2013) IL&FS AMC
Trustee Limited IL&FS Asian
Infrastructure Managers Limited IL&FS Broking
Services Private Limited (formerly Avendus Securities Private Limited) (from
September 30, 2013) IL&FS Capital
Advisors Limited IL&FS Cluster
Development Initiative Limited IL&FS Global
Financial Services (HK) Limited IL&FS Global
Financial Services (ME) Limited IL&FS Global
Financial Services (UK) Limited IL&FS Global
Financial Services Pte Limited IL&FS Hydro
Energy Limited IL&FS Infra
Asset Management Limited IL&FS
Investment Advisors LLC IL&FS Kamal
International Container Terminals Limited (from July 1, 2013) IL&FS
Maritime International FZE IL&FS
Maritime Offshore Pte Limited IL&FS Nepal
Infrastructure Development Company Private Limited IL&FS Offshore
Natural Resources Pte Limited IL&FS Prime
Terminals FZC IL&FS Rail
Limited IL&FS
Renewable Energy Limited IL&FS Skills
Development Corporation Limited IL&FS Solar
Power Limited IL&FS Tamil
Nadu Power Company Limited IL&FS Urban
Infrastructure Managers Limited IL&FS Wind
Farms Limited IL&FS Wind
Power Investment Pte Limited (from August 21, 2013) IL&FS Wind
Power Management Pte Limited (from May 15, 2013) IL&FS Wind
Power Services Limited (formerly IL&FS Wind Power Services Private
Limited) (from May 21, 2013) IMICL Dighi
Maritime Limited India Tourist and
Heritage Village Private Limited Integrated Trans
Log Development Company Limited Integrated
Warehousing Kandla Project Development Private Limited Integrated Waste
Management and Urban Services Company (Tamil Nadu) Limited Intevial-Gestao
Integral Rodoviaria S.A ISSL Market
Services Limited (formerly Development Investment Trustee Company Private
Limited) ISSL Settlement
and Transaction Services Limited ITNL Africa
Projects Limited ITNL International
JLT ITNL
International Pte Limited ITNL Offshore Pte
Limited ITNL Road
Infrastructure Development Company Limited Jaipur Rural
Development Initiative Limited Jharkhand Road
Projects Implementation Company Limited Kanak Resources
Management Limited Karyavattom
Sports Facilities Limited Khandke Wind
Energy Private Limited Khed Sinnar
Expressway Limited (from April 19, 2013) Kiratpur Ner
Chowk Expressway Limited Lalpur Wind
Energy Private Limited Mantenimiento Y
Conservacion De Vialidades, S.A. DE C.V Maritime
International Offshore Pte Limited Moradabad Bareily
Expressway Limited MP Border
Checkpost Development Company Limited Nakhatrana
Biomass Energy Limited Nana Layja Power
Company Limited North East
Tourism Development Company Private Limited North Karnataka
Expressway Limited Patiala Bio Power
Company Limited Porto Novo
Maritime Limited Pt Bangun Asia
Persada Pt Mantimin Coal
Mining Pune Sholapur
Road Development Company Limited Rajsamand Rural
Development Initiative Limited Rapid MetroRail
Gurgaon Limited Rapid MetroRail
Gurgaon South Limited Ratedi Wind Power
Limited (formerly IL&FS Wind Power Limited) Rohtas Bio Energy
Limited Sabarmati Capital
One Limited Sabarmati Capital
Two Limited Se7en Factor
Corporation Sealand Ports
Private Limited Sealand
Warehousing Private Limited (upto November 28, 2013) Senalizacion
Viales E Imagen, SA Sharjah General
Services LLC (from October 9, 2013) Shendra Green
Energy Limited Sikar Bikaner
Highway Limited Tadas Wind Energy
Private Limited Unique Waste Processing
Company Limited Vansh Nimay
Infraprojects Limited Vaspeth Wind
Energy Limited West Gujarat
Expressway Limited Wind Urja India
Private Limited Yala Construction
Company Private Limited |
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Joint Ventures - Direct : |
·
Bihar e-Governance
Services and Technologies Limited Gujarat International
Finance Tec-City Company Limited Haldia Integrated
Development Agency Limited IKG Associates IL&FS DoC Project
Development Fund Jharkhand e-Governance
Solutions and Services Limited Karnataka Enterprise
Solutions Limited Model Economic Township
Limited Odisha e-Governance
Services Limited Road Infrastructure
Development Company of Rajasthan Limited |
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Joint Ventures - Indirect : |
·
Assam
Power Projects Development Company Limited Bengal Integrated
Infrastructure Development Limited Bengal Urban
Infrastructure Development Limited Bihar Power
Infrastructure Company Private Limited Bodoland
Infrastructure Development Company Private Limited Chongqing Yuhe
Expressway Company Limited Consorcio De
Obras Civilies Conciviles. SRL Cross Border
Power Transmission Limited Damodar Valley
Tourism Development Private Limited Future Retail
Destination Limited Geotecnia Y
Control De Qualitat SA Gujarat
Industrial Infrastructure Project Limited Gujarat Tourism
Opportunity Limited IL&FS
Milestone Realty Advisors Private Limited Indraprastha
Energy and Waste Management Company Limited Infrastructure
Development Company of Nagaland Private Limited Infrastructure
Development Corporation of Assam Limited Jharkhand
Infrastructure Development Corporation Limited Jorabat Shillong
Expressway Limited Kamal Bagamoyo
Energy Ltd (from December 4, 2013) KSIIDC-IL&FS
Project Development Company Limited NAM Expressway
Limited Naya Raipur
Project Development Company Private Limited (upto February 2, 2014) Noida Toll Bridge
Company Limited Orissa Project
Development Company Private Limited PDCOR Limited Power
Transmission Company Nepal Limited South Coast
Infrastructure Development Company of Andhra Pradesh Limited Standard
Chartered IL&FS Management Singapore Pte Limited Syniverse
Technologies (India) Private Limited Tierra Enviro
Private Limited Uttarakhand
Infrastructure Projects Company Private Limited Vias Y
Construcciones, Viacon, S.R.L. |
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Associates - Direct : |
·
Ascend
Telecom Infrastructure Private Limited Dighi Port
Limited Dighi Project
Development Company Limited Gorakhpur
Expressway Limited IL&FS
Engineering and Construction Company Limited IL&FS
Technologies Limited Iridium India
Telecom Limited Mangalore SEZ
Limited |
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Associates - Indirect : |
·
Bengal
Aerotropolis Projects Limited Canopy Housing
and Infrastructure Limited Centro De
Investigacion De Carreteras De Andalucia S.A (upto June 11, 2013) CGI-8, S.A Elsamex Road Technology
Company Limited Empresas Pame SA
DE CV Hill County
Properties Limited (formerly Maytas Properties Limited) Investment
Trustee Co (Orissa) Private Limited ITNL Toll
Management Services Limited KSIDC IL&FS
IDC Infrastructure Limited Labtec Ensayos
Tecnicos Canarios, SA (upto September 12, 2013) New Tirupur Area
Development Corporation Limited ONGC Tripura
Power Company Limited Punjab Biomass
Power Limited Ramky Elsamex
Hyderabad Ring Road Limited Sara Fund Trustee
Company Private Limited Sociedad Concessionaria
Autovía A-4 Madrid SV Power Private
Limited Thiruvananthapuram
Road Development Company Limited Urban Mass
Transit Company Limited Urjankur Shree
Datta Power Company Limited Urjankur Shree
Tatyasaheb Korewarna Power Company Limited VCS Enterprises
Limited Vizag Agriport
Private Limited Warora Chandrapur
Ballarpur Toll Road Limited |
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Other Enterprises over which
Il & FS has Control : |
·
IFIN
Realty Trust IL&FS IIDC Fund IL&FS Infrastructure
Equity Fund IL&FS Infrastructure Equity
Fund - I IL&FS Investment
Trust - I IL&FS Investment
Trust - IV IL&FS ORIX Trust ITNL Road Investment
Trust Kohinoor Investment Trust
(Investment Square Trust) Saffron Investment Trust |
CAPITAL STRUCTURE
As on 22.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 3500.000 Millions |
|
860,000 |
Redeemable Cumulative Preference Shares |
Rs. 7,500/- each |
Rs. 6450.000 |
|
5,000,000 |
Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 50.000 |
|
|
|
|
|
|
|
Total |
|
Rs. 10000.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118,059,489 |
Equity Shares |
Rs.10/- each |
Rs. 1180.595 Millions |
|
800,000 |
Redeemable Cumulative Preference Shares |
Rs. 7,500/- each |
Rs. 6000.000 Millions |
|
5,000,000 |
Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 7230.595 Millions |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 3500.000 Millions |
|
860,000 |
Redeemable Cumulative Preference Shares |
Rs. 7,500/- each |
Rs. 6450.000 |
|
5,000,000 |
Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 50.000 |
|
|
|
|
|
|
|
Total |
|
Rs. 10000.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118,059,489 |
Equity Shares |
Rs.10/- each |
Rs. 1180.590 Millions |
|
800,000 |
Redeemable Cumulative Preference Shares |
Rs. 7,500/- each |
Rs. 6000.000 Millions |
|
5,000,000 |
Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 7230.590
Millions |
Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118,059,489 |
Equity Shares |
Rs.10/- each |
Rs. 1180.590 Millions |
|
615,376 |
Redeemable Cumulative Preference Shares |
Rs. 7,500/- each |
Rs. 4615.320 Millions |
|
5,000,000 |
Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 5845.910
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
5845.910 |
1218.330 |
1154.700 |
|
(b) Reserves & Surplus |
32822.730 |
26215.300 |
23380.373 |
|
(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) |
38668.640 |
27433.630 |
24535.073 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
63383.020 |
55990.610 |
51961.896 |
|
(b) Deferred tax liabilities (Net) |
322.000 |
344.000 |
307.000 |
|
(c) Other long term liabilities |
2241.990 |
2208.830 |
1260.445 |
|
(d) long-term provisions |
6196.730 |
4755.860 |
4106.339 |
|
Total Non-current Liabilities (3) |
72143.740 |
63299.300 |
57635.680 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6330.050 |
5379.600 |
4820.262 |
|
(b) Trade payables |
287.270 |
414.520 |
342.735 |
|
(c) Other current
liabilities |
5265.870 |
6283.560 |
5017.142 |
|
(d) Short-term provisions |
1123.960 |
2026.110 |
1867.487 |
|
Total Current Liabilities (4) |
13007.150 |
14103.790 |
12047.626 |
|
|
|
|
|
|
TOTAL |
123819.530 |
104836.720 |
94218.379 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2833.620 |
2888.940 |
2970.094 |
|
(ii) Intangible Assets |
44.310 |
21.280 |
28.532 |
|
(iii) Capital
work-in-progress |
768.510 |
788.840 |
757.654 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
78982.320 |
64429.440 |
59428.690 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28053.820 |
24669.110 |
21399.962 |
|
(e) Other Non-current assets |
2497.990 |
1222.810 |
859.821 |
|
Total Non-Current Assets |
113180.570 |
94020.420 |
85444.753 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
176.000 |
36.000 |
36.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
3954.160 |
515.720 |
707.746 |
|
(d) Cash and cash
equivalents |
5864.030 |
6691.620 |
3942.106 |
|
(e) Short-term loans and
advances |
455.000 |
3190.810 |
3656.458 |
|
(f) Other current assets |
189.770 |
382.150 |
431.316 |
|
Total Current Assets |
10638.960 |
10816.300 |
8773.626 |
|
|
|
|
|
|
TOTAL |
123819.530 |
104836.720 |
94218.379 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14269.090 |
12596.280 |
9740.450 |
|
|
|
Other Income |
1061.630 |
1181.460 |
1134.100 |
|
|
|
TOTAL (A) |
15330.720 |
13777.740 |
10874.550 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
960.710 |
1075.060 |
869.060 |
|
|
|
Other Operating and Administrative Expenses |
858.100 |
936.390 |
810.930 |
|
|
|
Amount set aside for Investment Valuation/ write off |
1.190 |
7.880 |
(722.860) |
|
|
|
Contingent provision against standard assets |
32.750 |
1.470 |
17.120 |
|
|
|
Provision and Contingencies |
1400.000 |
629.500 |
202.610 |
|
|
|
TOTAL (B) |
3252.750 |
2650.300 |
1176.860 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
12077.970 |
11127.440 |
9697.690 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7429.150 |
6580.160 |
5278.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4648.820 |
4547.280 |
4419.180 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
132.970 |
124.370 |
123.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
4515.850 |
4422.910 |
4296.050 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1318.000 |
895.000 |
821.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3197.850 |
3527.910 |
3474.550 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Profit on sale of investments |
2641.220 |
3657.250 |
2800.800 |
|
|
|
Dividend Income |
0.000 |
0.000 |
3.710 |
|
|
|
Other Income |
0.000 |
19.000 |
0.000 |
|
|
TOTAL EARNINGS |
2641.220 |
3676.250 |
2804.510 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
27.06 |
30.44 |
30.34 |
|
|
|
Diluted
|
27.06 |
29.97 |
29.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
22.41 |
28.01 |
35.67 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
84.64 |
88.34 |
99.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.25 |
11.16 |
12.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.16 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.80 |
2.24 |
2.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82 |
0.77 |
0.73 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1154.700 |
1218.330 |
5845.910 |
|
Reserves & Surplus |
23380.373 |
26215.300 |
32822.730 |
|
Net
worth |
24535.073 |
27433.630 |
38668.640 |
|
|
|
|
|
|
long-term borrowings |
51961.896 |
55990.610 |
63383.020 |
|
Short term borrowings |
4820.262 |
5379.600 |
6330.050 |
|
Total
borrowings |
56782.158 |
61370.210 |
69713.070 |
|
Debt/Equity
ratio |
2.314 |
2.237 |
1.803 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9740.450 |
12596.280 |
14269.090 |
|
|
|
29.319 |
13.280 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9740.450 |
12596.280 |
14269.090 |
|
Profit |
3474.550 |
3527.910 |
3197.850 |
|
|
35.67% |
28.01% |
22.41% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities
of Long Term Debt |
|
|
|
|
|
|
|
|
|
Secured |
|
|
|
|
|
|
|
|
|
Debentures |
|
|
|
|
From Banks |
50.000 |
15.000 |
750.000 |
|
From Related Parties |
6.880 |
0.000 |
0.000 |
|
From Other Parties |
1538.700 |
2178.020 |
1207.430 |
|
|
|
|
|
|
Term Loans |
|
|
|
|
From Banks |
0.000 |
0.000 |
0.000 |
|
From Other Parties |
292.520 |
286.840 |
255.560 |
|
|
|
|
|
|
Unsecured |
|
|
|
|
|
|
|
|
|
Term Loans |
|
|
|
|
Banks |
0.000 |
500.000 |
0.000 |
|
From Other Parties |
430.600 |
393.570 |
391.780 |
|
|
|
|
|
|
Inter Corporate
Deposit |
|
|
|
|
From Related Parties |
160.000 |
110.000 |
225.270 |
|
From Other Parties |
180.000 |
267.900 |
100.000 |
|
Total |
2658.700 |
3751.330 |
2930.040 |
|
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 |
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 27/11/2014 |
|
Lodging No: ITXAL/2015/2014 Filing Date: 27/11/2014 |
|
Petitioner: PRINCIPAL COMMISSIONER OF INCOME TAX Respondent: INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED Petn. Adv: ARVIND PINTO (I1583) District: MUMBAI |
|
Bench: DIVISION Status: Pre-Admission Category: TAX APPEALS Last Date: 04/12/2014 State: Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
Act: Income Tax Act, 1961 UNDER SECTION: 206A |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10528139 |
18/10/2014 |
500,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 4TH FLOOR, 55, MAHATMA |
C31540768 |
|
2 |
10528138 |
18/10/2014 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 4TH FLOOR, 55, MAHATMA |
C31539018 |
|
3 |
10528164 |
18/10/2014 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 4TH FLOOR, 55, MAHATMA |
C31543838 |
|
4 |
10528169 |
18/10/2014 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 4TH FLOOR, 55, MAHATMA |
C31536402 |
|
5 |
10528162 |
18/10/2014 |
1,500,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 4TH FLOOR, 55, MAHATMA |
C31532187 |
|
6 |
10459396 |
31/10/2013 |
8,000,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
15-16 BAJAJ BHAWAN, 1ST FLOOR, OPP INOX MULTIPLEX, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B88914809 |
|
7 |
10458291 |
31/10/2013 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MAHATMA |
B88815824 |
|
8 |
10458293 |
31/10/2013 |
2,000,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MAHATMA |
B88816202 |
|
9 |
10458295 |
31/10/2013 |
3,000,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MAHATMA |
B88817010 |
|
10 |
10449081 |
19/08/2013 |
5,000,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
15-16 BAJAJ BHAWAN, 1ST FLOOR, OPP INOX MULTIPLEX, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B84629732 |
|
11 |
10413641 |
05/03/2013 |
465,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B70828157 |
|
12 |
10413643 |
05/03/2013 |
500,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B70828538 |
|
13 |
10413635 |
05/03/2013 |
1,000,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B70827688 |
|
14 |
10413634 |
05/03/2013 |
3,900,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B70827258 |
|
15 |
10411857 |
22/02/2013 |
2,000,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MAHATMA |
B70779277 |
|
16 |
10357942 |
30/05/2012 |
2,100,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B40346371 |
|
17 |
10357931 |
30/05/2012 |
2,900,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B40346116 |
|
18 |
10357911 |
30/05/2012 |
3,000,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B40340333 |
|
19 |
10321929 |
29/02/2012 * |
250,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MG ROAD, |
B34816033 |
|
20 |
10321903 |
17/11/2011 |
250,000,000.00 |
CENTRAL BANKOF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MG ROAD |
B27289115 |
|
21 |
10321912 |
17/11/2011 |
250,000,000.00 |
CENTRAL BANKOF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MG ROAD |
B27294495 |
|
22 |
10321926 |
17/11/2011 |
250,000,000.00 |
CENTRAL BANKOF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MG ROAD |
B27299437 |
|
23 |
10321927 |
17/11/2011 |
250,000,000.00 |
CENTRAL BANKOF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MG ROAD |
B27300615 |
|
24 |
10321922 |
17/11/2011 |
1,500,000,000.00 |
CENTRAL BANKOF INDIA |
CENTRAL BANK MMO
BUILDING, 6TH FLOOR, 55 MG ROAD |
B27297274 |
|
25 |
10322035 |
31/10/2011 |
250,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26924720 |
|
26 |
10322038 |
31/10/2011 |
250,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26925305 |
|
27 |
10322116 |
31/10/2011 |
494,800,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26929042 |
|
28 |
10322115 |
31/10/2011 |
750,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26927954 |
|
29 |
10322327 |
31/10/2011 |
750,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26928473 |
|
30 |
10322033 |
31/10/2011 |
1,456,800,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26922971 |
|
31 |
10322039 |
31/10/2011 |
1,500,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26926592 |
|
32 |
10322041 |
31/10/2011 |
1,500,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26927350 |
|
33 |
10322326 |
31/10/2011 |
1,500,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26923862 |
|
34 |
10322117 |
31/10/2011 |
3,000,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
B26929778 |
|
35 |
10322031 |
12/06/2013 * |
3,250,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
15-16 BAJAJ BHAWAN, 1ST FLOOR, OPP INOX MULTIPLEX, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B77643351 |
|
36 |
10238214 |
17/08/2010 |
1,500,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
A93603223 |
|
37 |
10238213 |
17/08/2010 |
3,500,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
A93602761 |
|
38 |
10222556 |
01/06/2010 |
3,000,000,000.00 |
CENTBANK FINANCIAL SERVICES LIMITED |
CENTRALBANK MMO
BLDG6TH FLOOR 55 MAHATMA, GANDHI |
A86496460 |
|
39 |
10208625 |
09/03/2010 |
500,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE
SECTION, 6TH FLOOR,, CENTRAL BA |
A81668303 |
|
40 |
10208637 |
09/03/2010 |
500,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE
SECTION, 6TH FLOOR,, CENTRAL BA |
A81677866 |
|
41 |
10208949 |
09/03/2010 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE
SECTION, 6TH FLOOR,, CENTRAL BA |
A81864001 |
|
42 |
10208950 |
09/03/2010 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE
SECTION, 6TH FLOOR,, CENTRAL BA |
A81864274 |
|
43 |
10208951 |
09/03/2010 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE
SECTION, 6TH FLOOR,, CENTRAL BA |
A81864456 |
|
44 |
10194994 |
14/01/2010 |
1,000,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE
SECTION, 6TH FLOOR,, CENTRAL BA |
A76852110 |
|
45 |
10194992 |
14/01/2010 |
1,250,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE
SECTION, 6TH FLOOR,, CENTRAL BA |
A76851526 |
|
46 |
10198473 |
14/01/2010 |
250,000,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK MMO
BLDG, 6TH FLOOR, 55 MG ROAD, FOR |
A78139268 |
|
47 |
10183323 |
14/10/2009 |
40,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE SECTION, 6TH FLOOR, CENTRAL BANK MMO BUILDING, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A72568470 |
|
48 |
10183326 |
14/10/2009 |
100,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE SECTION, 6TH FLOOR, CENTRAL BANK MMO BUILDING, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A72570096 |
|
49 |
10183322 |
14/10/2009 |
151,500,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE SECTION, 6TH FLOOR, CENTRAL BANK MMO BUILDING, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A72567738 |
|
50 |
10183320 |
14/10/2009 |
500,000,000.00 |
CENTRAL BANK OF INDIA |
DEBENTURE TRUSTEE SECTION, 6TH FLOOR, CENTRAL BANK MMO BUILDING, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A72567050 |
* Date of charge modifications
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Sub-ordinated Debt |
|
|
|
-
From Related Parties |
1068.540 |
1068.540 |
|
-
From Other Parties |
1080.000 |
1080.000 |
|
|
|
|
|
Term Loans |
|
|
|
-
From Other Parties# |
1804.090 |
2121.100 |
|
|
|
|
|
Inter Corporate Deposits |
|
|
|
-
From Other Parties |
47.500 |
0.000 |
|
|
|
|
|
Covered Warrants |
|
|
|
- From Related Parties |
1693.000 |
1693.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Inter Corporate Deposits |
|
|
|
-
From Related Parties |
212.060 |
50.000 |
|
-
From Other Parties |
196.440 |
1601.070 |
|
|
|
|
|
Commercial Papers (CP) |
|
|
|
- From Other Parties |
6140.000 |
3800.000 |
|
Less : Unexpired discount on CP |
255.510 |
(124.020) |
|
Total |
11986.120 |
11289.690 |
NOTE
LONG TERM
BORROWINGS
*
Includes Rs. 2039.310 mn (Previous Year : Rs. 2281.140 mn) guaranteed by the
Government of India and Rs.
585.000 mn
(Previous Year : Rs.
630.000 mn)
guaranteed by United States Agency for International Development (USAID)
#
Guaranteed by the Government of India
GENERAL INFORMATION
Subject is one of India's leading infrastructure development and finance
companies. IL&FS has a distinct mandate of catalysing the development of
infrastructure in the country. The organisation has focussed on the
commercialisation and development of infrastructure projects and creation of
value added financial services. From concept to execution, IL&FS houses the
expertise to provide the complete array of services necessary for successful
project completion, visioning, documentation, development, finance, management,
technology and execution
IL&FS is registered with the Reserve Bank of India (RBI) as a
Systemically Important Core Investment Company (CIC-ND-SI). As per the RBI CIC
framework, the Company invests in and provides loans to its group companies
OPERATING ENVIRONMENT
(A) GLOBAL ECONOMY
The
global economic recovery remained steady across major global economies in the
US, the UK and Japan with a subdued pickup in Europe and developing economies.
In May 2013, the US Fed indication on tapering of Quantitative Easing (QE)
created turbulence in the global financial markets especially in major emerging
economies, which had an impact on the currencies of these countries.
Subsequently, since January 2014, the US
Federal
Reserve reduced its monthly asset purchases from USD 85 billion to USD 55
billion as its economic activity showed progress and labour market outlook
improved. The US GDP growth for the 2013 came in at 1.9% while the unemployment
rate fell below 7% for the first time in 5 years. The tightening of stimulus in
the US and reports of slowdown in major emerging economies resulted in biggest
sell off in few of the emerging market currencies. The countries that were
affected the most - Argentina, Turkey, Russia and South Africa among others
In
Japan, the economy showed signs of improvement after it adopted the weak
currency policy to spur growth and
reverse
the deflationary trend. In its latest policy, the Bank of Japan has decided to
continue the monetary easing at an annual pace of 60 – 70
trillion yen with the objective of achieving a 2% inflation target in the next
one year. In China, amidst concerns of a slowdown, the GDP growth for FY 2013
was almost at the same level as FY 2012
(B) INDIAN ECONOMY
Growth
in the Indian Economy for FY 2014 is expected to be at 4.5%. This has been
hampered by a host of factors – policy paralysis, high cost
of capital, high inflation, lack of investment etc. Structural bottlenecks like
shortages of power, coal and natural gas, stoppage of mining activity in some
States following legal enforcements on illegal mining, continued to be a major
constraining factor for industrial growth
The
US Fed indication on tapering of QE in the first quarter of FY 2014 resulted in
a sharp depreciation of the Rupee against the Dollar. However, measures taken
by the Reserve Bank of India (RBI) helped stabilize the currency at around Rs. 60 levels
Current
Account Deficit (CAD) for the first 9 months of FY 2014 came in at 2.3% of GDP
as improving global demand coupled with the Rupee depreciation helped in the
turnaround of export growth while imports, mostly Gold, declined as a result of
restrictions by the RBI
In
spite of growth being at a decade low, the continuous uptick in inflation on
rising food and oil prices prompted the RBI to increase the repo rate by an
overall 50 bps during FY 2014. As per the recommendations of Dr. Urjit Patel
Committee, the Central Bank has shifted its focus to CPI inflation and has set
an inflation target of sub 8% by January 2015 and sub 6% by January 2016. The
average CPI inflation for FY2014 stood at 9.5%
MANAGEMENT DISCUSSION AND
ANALYSIS
INDUSTRY OVERVIEW
During
the year, the US Economy shown signs of recovery, despite a slow start,
expanded at a pace of 4% which is highest in two years coupled with reduced
unemployment rate. The Chinese economy registered a growth rate of over 7%. The
Eurozone also reported signs of recovery. Global economic environment shows
signs of recovery
The
Indian GDP growth for FY 2014 remained at sub 5% levels, which is the lowest in
a decade. The GDP remained subdued for most part of the financial year. The
last quarter has seen some positive signs viz (i) the Trade deficit fell
sharply due to increased exports and moderated imports, (ii) the Balance of
Payment decline mainly on account of sharp fall in gold imports
Due
to the General Elections in the country, it is anticipated the policy paralysis
would continue till the Q2 of FY 2015, till the new Government assumes charge.
The Government's focus on increased infrastructure spending as a means to boost
the slowing economy is also seen as part of the efforts to support economic
growth. Given the emphasis of the Government on PPPs, it is expected that
opportunities for private sector players will sustain
The
Infrastructure Projects consume a significant amount of time in securing
required clearances from appropriate
authorities.
In order to reduce the time delays in obtaining the requisite clearances, the
Supreme Court has approved delinking the Environmental Clearances with Forest
Clearances. In addition, the Central Government has constituted a Regulatory
Authority for Roads and Highways to deal with and address issues with regard to
financial closure, construction risks and contract management that are stalling
the road projects
In
addition, the National Highways Authority of India (NHAI) on its part has
formulated a framework that allows the
developers
of highway project to exit the project with the consent of majority of project
lenders. The foregoing would provide flexibility to the developers to exit a
project in case of difficulty in executing, at the same time it provides an
opportunity for big players to acquire projects that are at various stages of
development at attractive valuations
The
above measures coupled with increased importance accorded to infrastructure
sector and availability of incremental liquidity in the banking system are
expected to contribute favourably to infrastructure industry as a whole.
OUTLOOK
The
Company has established itself well in India, is in process of establishing its
foothold in international level, to
explore,
identify and capture the opportunities stemming in the infrastructure as well
as financial services space. Since a number of foreign initiatives have been
undertaken by IL&FS Group in the areas of infrastructure development and
financial services, these initiatives would position the Company as an
integrated Group offering a wider canvas of products and services encompassing “Concept-to-Commissioning”
abilities in project execution
All
major Business Verticals of IL&FS Group are now operational and are playing
a vital role in contributing towards the Group Profitability. With a steady
pipeline of opportunities stemming from these initiatives, the IL&FS Group
is well positioned to take advantage of the opportunities and to address the
challenges that may arise in the years to come
The
Company would continue to strive to broad-base its resource pool by accessing
the new markets, avenues and devising new financial products to enhance its
ability to mobilise large quantum of funds needed to meet the resource
requirements of the Group. The Company's focus would continue to be on closing
the existing initiatives
and
recycling the capital by unlocking the value of the initiatives progressively
through induction of strategic or PE investors, listing of the matured project
initiatives at reasonable valuations and monetizing non-core assets to fund the
existing projects and initiatives in the long run.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.201 (Rs.
In Millions) |
|
Guarantees (including letters of credit, performance security and other financial guarantees) issued to third parties by the Company’s bankers on behalf of Group Companies in the normal course of business for which Company has also received Counter Guarantee from the respective Group Companies |
6427.570 |
3453.140 |
|
Corporate Guarantees given by the Company on behalf of Group Companies |
0.170 |
0.170 |
|
Sales Tax liability that may arise in respect of matters in appeal - Gujarat Commercial Tax |
0.000 |
0.130 |
|
Employee State Insurance |
0.000 |
0.130 |
|
Service
Tax liability that may arise in respect of matters in appeal |
76.820 |
0.000 |
FIXED ASSETS
·
Leasehold
Land
Premises
Plant and Machinery
Furniture and Fixtures
Vehicles
Office Equipments
Data Processing Equipments
Electricals Installation
Improvement to Leased Property
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
|
|
1 |
Rs.96.90 |
|
Euro |
1 |
Rs.76.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
81 |
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.