MIRA
INFORM REPORT
|
Report Date : |
13.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
BNY MELLON
INTERNATIONAL OPERATIONS (INDIA) PRIVATE LIMITED (w.e.f. 06.06.2008) |
|
|
|
|
Formerly Known
As : |
MELLON INDIA
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Tower III,
Cybercity, 3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-022163 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 834.737
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900PN2004FTC022163 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM9640E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company provides Business Process Outsourcing Services. |
|
|
|
|
No. of Employees
: |
information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ”MBC Investment corporation, Financial position of the company seems to be strong. Over all
fundamentals of the company seems to be sound and healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DENIED BY
Management non co-operative (91-20-66073600)
LOCATIONS
|
Registered Office : |
Tower III, Cybercity, 3rd Floor, |
|
Tel. No.: |
91-20-66073600 / 30456000/
30443228 |
|
Fax No.: |
91-20-66073604/ 30443001 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Dinesh Umeshchandra Deo |
|
Designation : |
Director |
|
Address : |
Flat No. 201, Amruta Apartment, CTS 55, FP 82, PL 8, Ashok Path, Erandawana,
Pune - 411004, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1970 |
|
Date of Appointment : |
15.02.2007 |
|
PAN No.: |
ABZPD6837C |
|
Qualification : |
CA, ICWA |
|
Experience : |
18.7 Years |
|
DIN No.: |
01662530 |
|
|
|
|
Name : |
Mr. Kathleen J Geis |
|
Designation : |
Director |
|
Address : |
1386, Royal Oka, DR
Wexford-15090, USA |
|
Date of Birth/Age : |
27.11.1959 |
|
Date of Appointment : |
31.05.2005 |
|
DIN No : |
02378052 |
|
|
|
|
Name : |
Mr. Frank Devid Dittrich |
|
Designation : |
Director |
|
Address : |
1642, Blackburn Hgts, Sewickley PA, Pennsylvania-15143, USA |
|
Date of Birth/Age : |
04.07.1957 |
|
Date of Appointment : |
08.01.2007 |
|
DIN No : |
01868692 |
|
|
|
|
Name : |
Mr. James C Mceleney |
|
Designation : |
Director |
|
Address : |
Flat A-1002, Waterfront SR No.212/A, South Avenue, Kalyani Nagar, Pune
- 411006, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1965 |
|
Date of Appointment : |
21.07.2009 |
|
DIN No : |
02726873 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil Subhash Kaswa |
|
Designation : |
Secretary |
|
Address : |
Flat No. 15, B2, Ganesh Mrket, Co-op Housing Society, Gangadham Chowk,
Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1980 |
|
Date of Appointment : |
20.10.2011 |
|
PAN No.: |
AQWPK8139L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
MBC Investments Corporation, USA |
|
83473665 |
|
The Bank of New York Mellon Corporation, New York |
|
1 |
|
Total |
|
83473666 |
As on 26.09.2014
Equity Share Break up (Percentage of Total Equity)
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company provides Business Process Outsourcing Services. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||
|
|
|
||||||||||||
|
Customers : |
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
information denied by management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Divulged |
|
Auditors : |
|
|
Name : |
B. S. R and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall
Clinic , Bund Garden Road, Pune – 411001, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
·
MBC Investments Corporation, USA |
|
|
|
|
Ultimate Holding Company : |
·
The Bank of New York Mellon Corporation, New York
|
CAPITAL STRUCTURE
As on 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83473666 |
Equity Shares |
Rs.10/- each |
Rs. 834.737
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 |
834.737 |
834.737 |
834.737 |
|
(b) Reserves & Surplus |
2225.895 |
1646.410 |
1214.503 |
|
(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) |
3060.632 |
2481.147 |
2049.240 |
|
|
|
|
|
|
(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 |
100.933 |
78.329 |
68.649 |
|
(d) long-term provisions |
105.975 |
91.426 |
37.249 |
|
Total Non-current Liabilities (3) |
206.908 |
169.755 |
105.898 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
81.688 |
83.074 |
95.590 |
|
(c) Other current
liabilities |
293.960 |
228.639 |
100.875 |
|
(d) Short-term provisions |
61.599 |
13.747 |
30.720 |
|
Total Current Liabilities (4) |
437.247 |
325.460 |
227.185 |
|
|
|
|
|
|
TOTAL |
3704.787 |
2976.362 |
2382.323 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
945.865 |
766.582 |
761.805 |
|
(ii) Intangible Assets |
6.959 |
11.548 |
0.012 |
|
(iii) Capital
work-in-progress |
2.822 |
81.080 |
0.000 |
|
(iv)
Intangible assets under development |
37.803 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
181.300 |
144.000 |
73.755 |
|
(d) Long-term Loan and Advances |
303.939 |
167.381 |
116.930 |
|
(e) Other Non-current assets |
1.000 |
2.350 |
3.835 |
|
Total Non-Current Assets |
1479.688 |
1172.941 |
956.337 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
825.616 |
630.218 |
542.326 |
|
(d) Cash and cash
equivalents |
1272.057 |
1070.459 |
802.205 |
|
(e) Short-term loans and
advances |
125.775 |
101.892 |
79.644 |
|
(f) Other current assets |
1.651 |
0.852 |
1.811 |
|
Total Current Assets |
2225.099 |
1803.421 |
1425.986 |
|
|
|
|
|
|
TOTAL |
3704.787 |
2976.362 |
2382.323 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4723.800 |
3634.200 |
2986.477 |
|
|
|
Other Income |
204.800 |
183.100 |
123.524 |
|
|
|
TOTAL |
4928.600 |
3817.300 |
3110.001 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
4099.600 |
3205.800 |
2600.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
829.000 |
611.500 |
509.872 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
268.300 |
187.100 |
169.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
560.700 |
424.400 |
340.752 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.72 |
5.08 |
4.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
11.87 |
11.68 |
11.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.80 |
22.23 |
22.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.09 |
5.54 |
6.28 |
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 |
834.737 |
834.737 |
834.737 |
|
Reserves & Surplus |
1214.503 |
1646.410 |
2225.895 |
|
Net
worth |
2049.240 |
2481.147 |
3060.632 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20298509_MIRA%2013-Dec-2014_files/image002.gif)
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 |
2986.477 |
3634.200 |
4723.800 |
|
|
|
21.689 |
29.982 |
%20PRIVATE%20LIMITED%20-%20298509_MIRA%2013-Dec-2014_files/image004.gif)
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 |
2986.477 |
3634.200 |
4723.800 |
|
Profit |
340.752 |
424.400 |
560.700 |
|
|
11.41% |
11.68% |
11.87% |
%20PRIVATE%20LIMITED%20-%20298509_MIRA%2013-Dec-2014_files/image007.gif)
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 |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PRESENT OUTLOOK
During this period, the Company made a profit of Rs. 560.700 millions on sales of Rs. 4723.800 millions. The revenue growth has been due to the steady increase in headcount during the period and expansion of business at Chennai location.
NOTE: NO CHARGES
EXIST FOR COMPANY
FIXED ASSISTS
· Furniture and fixtures
· Vehicles
· Computer Equipments
· Other Equipments
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 records 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.62.44 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.