MIRA INFORM REPORT
|
Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE CAPITAL 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 : |
05.03.1986 |
|
|
|
|
Com. Reg. No.: |
11-165645 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2460.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L65910MH1986PLC165645 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR15405F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR5054J |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Subject is engaged in lending and investing activities. |
|
|
|
|
No. of Employees
: |
18675 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. In view of experienced and reputed promoters and directors, the
company can be considered normal for business dealing 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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles from
its Talegaon plant near Pune in the second half of 2014. GM was one of the few
global carmakers that was using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Rs. 75 Billion - Short term debt: “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
17.06.2014 |
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
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-30479800)
LOCATIONS
|
Registered Office : |
“H” Block, 1st Floor, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai – 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30479800 |
|
Fax No.: |
91-22-30327202 |
|
E-Mail : |
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|
Website : |
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|
Corporate Office : |
570, Rectifier House, 2nd Floor Naigaum Cross Road, Next to
Royal Industrial Estate, Wadala, Mumbai - 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479800 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Anil Dhirubhai Ambani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Amitabh Jhunjhunwala |
|
Designation : |
Vice Chairman |
|
|
|
|
Name : |
Mr. Rajendra P. Chitale |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Bidhubhusan Samal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V. N. Kaul |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. V. R. Mohan |
|
Designation : |
Company Secretary and Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of Shareholder |
Total No. of Shares |
Total
Shareholding as a % |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1166014 |
0.48 |
|
|
130216289 |
53.15 |
|
|
1600000 |
0.65 |
|
|
1600000 |
0.65 |
|
|
132982303 |
54.28 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
132982303 |
54.28 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1662897 |
0.68 |
|
|
591540 |
0.24 |
|
|
76393 |
0.03 |
|
|
10857082 |
4.43 |
|
|
49827840 |
20.34 |
|
|
63015752 |
25.72 |
|
|
|
|
|
|
6619263 |
2.70 |
|
|
|
|
|
|
37224638 |
15.19 |
|
|
3896968 |
1.59 |
|
|
1256841 |
0.51 |
|
|
1256841 |
0.51 |
|
|
48997710 |
20.00 |
|
Total Public shareholding (B) |
112013462 |
45.72 |
|
Total (A)+(B) |
244995765 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
637035 |
0.00 |
|
|
637035 |
0.00 |
|
Total (A)+(B)+(C) |
245632800 |
100.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl.No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % |
||
|
1 |
AAA Enterprises Private Limited |
9,84,14,206 |
40.07 |
|
2 |
AAA Infrastructure Consulting and Engineers Private Limited |
2,79,75,633 |
11.39 |
|
3 |
Rel Utility Engineers Limited |
32,50,000 |
1.32 |
|
4 |
Reliance ADA Group Trustees Private Limited - Trustees of RCAP ESOS
Trust |
16,00,000 |
0.65 |
|
5 |
Reliance Innoventures Private Limited |
5,76,450 |
0.23 |
|
6 |
Kokila D Ambani |
5,45,157 |
0.22 |
|
7 |
Anil D Ambani |
2,73,891 |
0.11 |
|
8 |
Tina A Ambani |
2,63,474 |
0.11 |
|
9 |
Jaianmol A Ambani |
83,487 |
0.03 |
|
10 |
Jaianshul A Ambani |
5 |
0.00 |
|
|
Total |
13,29,82,303 |
54.14 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % |
|
|
1 |
Janus Overseas Funds |
4188389 |
1.71 |
|
|
2 |
Life Insurance Corporation of India |
10512400 |
4.28 |
|
|
3 |
Blackrock Funds |
2780022 |
1.13 |
|
|
4 |
Vanguard Funds |
3265864 |
1.33 |
|
|
5 |
Janus Aspen Series Overseas Portfolio |
2639171 |
1.07 |
|
|
6 |
Abu Dhabi Investment Authority |
2732852 |
1.11 |
|
|
7 |
Credit Suisee (Singapore) Limited |
4110150 |
1.67 |
|
|
8 |
Stichting Funds |
2776899 |
1.13 |
|
|
|
Total |
33005747 |
13.44 |
Details of Depository Receipts (DRs)
|
Sl. No. |
Type of Outstanding DR (ADRs, GDRs, SDRs,
etc.) |
No. of Outstanding DRs |
No. of Shares Underlying |
Shares Underlying Outstanding DRs as % |
|
1 |
GDRs |
6,37,035 |
6,37,035 |
0.26 |
|
|
Total |
6,37,035 |
6,37,035 |
0.26 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in lending and investing activities. |
GENERAL INFORMATION
|
No. of Employees : |
18675 (Approximately) |
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Bankers : |
Reserve Bank of India |
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Facilities : |
NOTES: SHORT TERM
BORROWINGS a. Cash Credit amounting to Rs. 410.000 Millions (Previous year Rs. 1650.000 Millions) referred above are secured by pari passu first charge on all present and future book debts (only performing assets), receivables and loan assets pertaining only to the Company’s commercial finance division. b. Short term loan amounting to Rs. 5000.000 Millions (Previous year Rs. Nil) referred above are secured by pari passu first charge on all present and future book debts (only performing assets), receivables and loan assets pertaining only to the Company’s commercial finance division. c. In respect of Commercial papers maximum amount
outstanding during the year was Rs. 52960.000 Millions (Previous year Rs.
54650.000 Millions). |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
|
|
|
Name : |
B S R and Company Chartered Accountants |
|
|
|
|
Holding Company: |
Reliance Innoventures Private Limited |
|
|
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|
Subsidiary of
Holding Company: |
AAA Enterprises Private Limited |
|
|
|
|
Subsidiaries : |
· Reliance Capital Asset Management Limited · Reliance Money Express Limited · Reliance Capital Asset Management (UK) Plc · Reliance Composite Insurance Broking Limited · Reliance Asset Management (Malaysia) SDN BHD · Reliance Alternative Investments Services Private Limited · Reliance Asset Management (Mauritius) Limited · Reliance Capital (Singapore) Pte Limited · Reliance Asset Management (Singapore) Pte. Limited · Reliance Venture Asset Management Private Limited · Reliance Capital Pension Fund Limited · Reliance Equities International Private Limited · Reliance Capital Trustee Company Limited (merged with the company w.e.f. March 31, 2013) · Reliance General Insurance Company Limited · Emerging Money Mall Limited (w.e.f. February 20, 2013) · Reliance Gilts Limited (merged with the company w.e.f. March 31, 2013) · Reliance Home Finance Limited · QOPPA Trading Private Limited · Reliance Equity Advisors (India) Limited · Quant Broking Private Limited · Reliance Consultants (Mauritius) Limited · Quant Capital Advisors Private Limited · Reliance Exchangenext Limited · Quant Capital Finance And Investments Private Limited · Reliance Spot Exchange Infrastructure Limited · Quant Capital Private Limited · Indian Agri Services Private Limited (w.e.f April 30, 2012) · Quant Commodities Private Limited · Reliance Securities Limited · Quant Commodity Broking Private Limited · Reliance Wealth Management Limited · Quant Investments Services Private Limited · Reliance Financial Limited · Quant Securities Private Limited · Reliance Money Precious Metals Private Limited · QCAP Trade Private Limited · Reliance Commodities Limited · Quant Alternative Asset Management Private Limited · Reliance Investment Banking Services Limited (w.e.f. October 12, 2012) |
|
|
|
|
Partnership firm: |
· Reliance Capital Partners · Reliance Capital Infrastructure Partners (dissolved w.e.f. December 31, 2012) |
|
|
|
|
Associates : |
· Ammolite Holdings Limited Reliance Land Private Limited · Indian Commodity Exchange Limited · Reliance Life Insurance Company Limited · Reliance Asset Reconstruction Company Limited · Reliance Share & Stock Brokers Private Limited |
|
|
|
|
Fellow subsidiaries
: |
· AAA Entertainment Private Limited · Reliance Communications Limited · Big Flicks Private Limited · Reliance Infocomm Infrastructure Private Limited · Jump Games Private Limited · Reliance Webstore Limited · Reliance Big Entertainment Private Limited · Zapak Digital Entertainment Limited · Reliance Communications Infrastructure Limited |
|
|
|
|
Other related
parties with whom transactions have taken place during the year: |
Reliance Power Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs. 3000.000 Millions |
|
|
|
|
|
Issued, Subscribed :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
246977006 |
Equity Shares |
Rs.10/- each |
Rs.2470.000 Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
245632800 |
Equity Shares |
Rs.10/- each |
Rs.2450.000 Millions |
|
1344206 |
Add : Forfeited Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 2460.000 Millions
|
NOTE
(d) Equity shares held by holding company and subsidiaries of holding
company:
|
Name of the holder |
As at March 31,
2013 |
|
|
% |
Qty. |
|
|
Reliance Innoventures Private Limited (Holding company) |
0.23 |
576450 |
|
AAA Enterprises Private Limited (Subsidiary of holding company) |
40.07 |
98414206 |
|
AAA Infrastructure Consulting And Engineers Private Limited
(Subsidiary of holding company) |
11.39 |
27975633 |
(e) Equity shares in the company held by each shareholder holding more
than 5 percent:
|
Name of the holder |
As at March 31,
2013 |
|
|
% |
Qty. |
|
|
AAA Enterprises Private Limited |
40.07 |
98414206 |
|
AAA Infrastructure Consulting And Engineers Private Limited |
11.39 |
27975633 |
(f) The Company has one class of equity shares having a par value of Rs. 10
per share. Each shareholder is eligible for one vote per share held.
For the year ended March 31, 2013, the amount of per share dividend
recognised as distributable to equity shareholders is Rs. 8 (March 31, 2012 Rs.
7.50). The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting.
(g) Reconciliation of numbers of shares outstanding
|
Particulars |
As at March 31,
2013 |
|
|
No of Shares |
Rs. in Millions |
|
|
Equity shares |
|
|
|
Opening balance |
24 56 32 800 |
2450.000 |
|
Movement during the year |
-- |
-- |
|
Closing balance |
24 56 32 800 |
2450.000 |
(h) As on March 31, 2013, 5,07,101 equity shares (Previous year 9,74,329
equity shares) are held by custodian against which depository receipts have
been issued.
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 |
2460.000 |
2460.000 |
2460.000 |
|
(b) Reserves & Surplus |
112660.000 |
107980.000 |
67820.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
115120.000 |
110440.000 |
70280.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
124020.000 |
108650.000 |
107010.000 |
|
(b) Deferred tax liabilities (Net) |
60.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
140.000 |
0.000 |
10.000 |
|
(d) long-term
provisions |
300.000 |
250.000 |
280.000 |
|
Total Non-current
Liabilities (3) |
124520.000 |
108900.000 |
107300.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
41900.000 |
34530.000 |
49900.000 |
|
(b) Trade
payables |
10.000 |
70.000 |
10.000 |
|
(c) Other
current liabilities |
51710.000 |
45830.000 |
36860.000 |
|
(d) Short-term
provisions |
2310.000 |
2060.000 |
1730.000 |
|
Total Current
Liabilities (4) |
95930.000 |
82490.000 |
88500.000 |
|
|
|
|
|
|
TOTAL |
335570.000 |
301830.000 |
266080.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1310.000 |
1420.000 |
700.000 |
|
(ii)
Intangible Assets |
200.000 |
210.000 |
90.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
30.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
133090.000 |
132250.000 |
104390.000 |
|
(c) Deferred tax assets (net) |
0.000 |
30.000 |
270.000 |
|
(d) Long-term Loan and Advances |
101990.000 |
87130.000 |
86010.000 |
|
(e) Other
Non-current assets |
13440.000 |
9810.000 |
12170.000 |
|
Total Non-Current
Assets |
250060.000 |
230850.000 |
203630.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
3660.000 |
6000.000 |
7280.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
1930.000 |
170.000 |
|
(d) Cash
and cash equivalents |
7450.000 |
4360.000 |
9080.000 |
|
(e)
Short-term loans and advances |
70250.000 |
54000.000 |
42930.000 |
|
(f) Other
current assets |
4150.000 |
4690.000 |
2990.000 |
|
Total
Current Assets |
85510.000 |
70980.000 |
62450.000 |
|
|
|
|
|
|
TOTAL |
335570.000 |
301830.000 |
266080.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
38280.000 |
32680.000 |
18780.000 |
|
|
|
Other Income |
400.000 |
490.000 |
930.000 |
|
|
|
TOTAL |
38680.000 |
33170.000 |
19710.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefits expense |
1650.000 |
1410.000 |
1100.000 |
|
|
|
Other expenses |
7910.000 |
4640.000 |
3890.000 |
|
|
|
TOTAL |
9560.000 |
6050.000 |
4990.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
29120.000 |
27120.000 |
14720.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21790.000 |
20650.000 |
12570.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7330.000 |
6470.000 |
2150.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
290.000 |
260.000 |
140.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7040.000 |
6210.000 |
2010.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
420.000 |
1020.000 |
-280.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
6620.000 |
5190.000 |
2290.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
20.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
20.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
26.95 |
21.14 |
9.33 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
31.03.2014 |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
8390.000 |
8040.000 |
7670.000 |
7590.000 |
|
Total Expenditure |
1600.000 |
1720.000 |
1250.000 |
200.000 |
|
PBIDT (Excl OI) |
6790.000 |
6320.000 |
6420.000 |
7390.000 |
|
Other Income |
110.000 |
170.000 |
80.000 |
490.000 |
|
Operating Profit |
6900.000 |
6490.000 |
6500.000 |
7880.000 |
|
Interest |
5650.000 |
5700.000 |
5690.000 |
5750.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
1250.000 |
790.000 |
810.000 |
2130.000 |
|
Depreciation |
80.000 |
80.000 |
90.000 |
90.000 |
|
Profit Before Tax |
1170.000 |
710.000 |
720.000 |
2040.000 |
|
Tax |
20.000 |
90.000 |
50.000 |
390.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1150.000 |
620.000 |
670.000 |
1650.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1150.000 |
620.000 |
670.000 |
1650.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
17.11 |
15.65 |
11.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.39 |
19.00 |
10.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.48 |
3.66 |
1.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.06 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.44 |
1.30 |
2.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.86 |
0.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2460.000 |
2460.000 |
2460.000 |
|
Reserves & Surplus |
67820.000 |
107980.000 |
112660.000 |
|
Net
worth |
70280.000 |
110440.000 |
115120.000 |
|
|
|
|
|
|
long-term borrowings |
107010.000 |
108650.000 |
124020.000 |
|
Short term borrowings |
49900.000 |
34530.000 |
41900.000 |
|
Total
borrowings |
156910.000 |
143180.000 |
165920.000 |
|
Debt/Equity
ratio |
2.233 |
1.296 |
1.441 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
18780.000 |
32680.000 |
38280.000 |
|
|
|
74.015 |
17.136 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
18780.000 |
32680.000 |
38280.000 |
|
Profit |
2290.000 |
5190.000 |
6620.000 |
|
|
12.19% |
15.88% |
17.29% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current
Maturities of Long Term Debts |
|
|
|
|
Non-convertible
debentures |
|
|
|
|
Others |
13180.000 |
29850.000 |
1500.000 |
|
Related party |
850.000 |
1570.000 |
0.000 |
|
Inter corporate
deposits |
|
|
|
|
Others |
10.000 |
0.000 |
0.000 |
|
Related party |
1500.000 |
0.000 |
0.000 |
|
Total |
15540.000 |
31420.000 |
1500.000 |
|
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF BOMBAY |
||||
|
CASE DETAILS |
||||
|
BENCH:- BOMBAY |
||||
|
PRESENTATION DATE:- 09.05.2014 |
||||
|
STAMP NO:- NMSL/1208/2014 |
FAILING DATE:- 09/05/2014 |
|||
|
MAIN MATTER Lodging No.:
ARBPL/112/2012 |
||||
|
PETITIONER:- |
AUTOGRAPH CARS INDIA PRIVATE LIMITED |
RESPONDENT:- |
RELIANCE CAPITAL LIMITED |
|
|
PETN.ADV:- |
GAURI S RAO (1872) |
|
||
|
DISTRICT:- |
MUMBAI |
|||
|
BENCH:- |
SINGLE |
|||
|
STATUS:- |
PRE-ADMISSION |
CATEGORY:- |
TAX APPEALS |
|
|
LAST DATE:- |
09/06/2014 |
STAGE:- |
||
|
LAST CORAM:- |
REGISTRAR (OS)/PROTHONOTARY & SR. MASTER |
|||
|
ACT:- |
ARBITRATION AND CONCILIATION ACT 1996 |
|||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10504967 |
26/06/2014 |
3,000,000,000.00 |
ANDHRA BANK |
9/15, MAMA PARAMANAND MARG,, QUEEN'S ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA |
C08120875 |
|
2 |
10490591 |
27/03/2014 |
1,500,000,000.00 |
KARNATAKA BANK LIMITED |
CORPORATE FINANCE BRANCH, 294-A, HAROON HOUSE, PERIN
NARIMAN STREET, BEHIND RBI, FORT, MUMBAI, MAH |
C03833829 |
|
3 |
10495596 |
25/03/2014 |
3,000,000,000.00 |
ANDHRA BANK |
5-9-11, DR. PATTABHI BHAVAN, SAIFABAD, HYDERABAD, ANDHRA PRADESH - 500004, INDIA |
C03606787 |
|
4 |
10486467 |
14/03/2014 |
3,500,000,000.00 |
SYNDICATE BANK |
I.P. ESTATE BRANCH, BAHADUR SHAH ZAFAR MARG, NEW DELHI, DELHI - 110026, INDIA |
C01019462 |
|
5 |
10484225 |
14/03/2014 |
25,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA,
KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
C00110510 |
|
6 |
10474947 |
06/01/2014 |
2,250,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
MUMBAI METRO BO,1ST FLOOR ATLANTA BUILDING, V K SHAH MARG NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B95231809 |
|
7 |
10470524 |
17/12/2013 |
3,000,000,000.00 |
BANK OF BARODA |
J2/15, RAJOURI GARDEN, NAJAFGARH ROAD, NEW DELHI, |
B93633428 |
|
8 |
10457456 |
28/10/2013 |
1,500,000,000.00 |
DEUTSCHE BANK AG |
ECE HOUSE, 28, KG MARG, NEW DELHI, DELHI - 110001, INDIA |
B88469044 |
|
9 |
10449602 |
29/08/2013 |
2,000,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, UCO BANK BUILDING, DR. D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B85234094 |
|
10 |
10448352 |
19/08/2013 |
1,000,000,000.00 |
CITICORP FINANCE (INDIA) LIMITED |
8TH FLOOR, FIRST INTERNATIONAL FINANCIAL CENTRE, |
B84696970 |
|
11 |
10445519 |
19/08/2013 |
1,000,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, UCO BANK BUILDING, DR. D N ROAD, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B83272104 |
|
12 |
10447973 |
14/08/2013 |
500,000,000.00 |
KARNATAKA BANK LIMITED |
CORPORATE FINANCE BRANCH, 294 A, HAROON HOUSE, PERIN NARIMAN
STREET, BEHIND RBI, FORT, MUMBAI, MAHA |
B84525880 |
|
13 |
10442360 |
28/01/2014 * |
52,847,100,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA,
KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B95763272 |
|
14 |
10436527 |
29/06/2013 |
5,000,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH, 25, SIR P.M. ROAD, 2ND |
B79477584 |
|
15 |
10426047 |
14/05/2013 |
6,477,400,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA,
KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B75210724 |
|
16 |
10415311 |
26/03/2013 |
2,000,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
11-13, ATLANTA BUILDING, 209, VINAY K. SHAH MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B71929889 |
|
17 |
10411569 |
15/03/2013 |
400,000,000.00 |
BANK OF BAHRAIN & KUWAIT B.S.C. |
6-3-550, AKASHGANGA, L B BHAWAN, SOMAJIGUDA, HYDE |
B70696612 |
|
18 |
10410974 |
12/03/2013 |
7,803,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA
COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B70228267 |
|
19 |
10395432 |
27/12/2012 |
4,501,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA
COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B64821978 |
|
20 |
10395012 |
24/12/2012 |
5,000,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
11-13, ATLANTA, 1ST FLOOR, 209, V. K. SHAH MARG, |
B65184871 |
|
21 |
10383905 |
30/10/2012 |
11,247,700,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA,
KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B60924602 |
|
22 |
10381825 |
27/09/2012 |
2,250,000,000.00 |
STATE BANK OF HYDERABAD |
CORPORATE FINANCE BRANCH, C-11, MITTAL TOWER,, FI |
B60193216 |
|
23 |
10386474 |
24/09/2012 |
4,000,000,000.00 |
INDIAN OVERSEAS BANK |
229, BAKHTAWAR BUILDING, GROUND FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B62076609 |
|
24 |
10377667 |
31/08/2012 |
1,000,000,000.00 |
KARNATAKA BANK LIMITED |
CORPORATE FINANCE BRANCH, 249-A, HAROON HOUSE, PERIN
NARIMAN STREET, BEHIND RBI, FORT, MUMBAI, MAH |
B58521279 |
|
25 |
10377690 |
31/08/2012 |
250,000,000.00 |
KARNATAKA BANK LIMITED |
CORPORATE FINANCE BRANCH, 249-A, HAROON HOUSE, PERIN
NARIMAN STREET, BEHIND RBI, FORT, MUMBAI, MAH |
B58526310 |
|
26 |
10369971 |
09/08/2012 |
3,340,300,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA
COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B45361334 |
|
27 |
10362517 |
12/06/2012 |
1,500,000,000.00 |
DEUTSCHE BANK |
4TH FLOOR, DLF SQUARE, JARCANDA MARG, NH - 8, GURGAON, HARYANA - 122002, INDIA |
B42412429 |
|
28 |
10361650 |
31/05/2012 |
1,500,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, ATLANTA, FIRST FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B42046920 |
|
29 |
10356717 |
24/05/2012 |
6,886,200,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK
BANDRA |
B39897111 |
|
30 |
10358205 |
21/05/2012 |
2,000,000,000.00 |
BANK OF INDIA |
NEW DELHI LARGE CORPORATE BRANCH, PTI BUILDING, 4 |
B40635989 |
|
31 |
10350713 |
30/03/2012 |
5,000,000,000.00 |
CENTRAL BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, CHANDER MUKHI, NARIMAN |
B37873379 |
|
32 |
10343276 |
06/03/2012 |
3,000,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, UCO BANK BUILDING, DR D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B35497502 |
|
33 |
10339373 |
15/07/2013 * |
5,608,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK
BANDRA |
B80038870 |
|
34 |
10331100 |
10/01/2012 |
5,000,000,000.00 |
CENTRAL BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, CHANDER MUKHI, NARIMAN |
B30354351 |
|
35 |
10317225 |
15/07/2013 * |
525,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA,
KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B80039233 |
|
36 |
10312235 |
22/09/2011 |
950,000,000.00 |
DBS BANK LIMITED |
5TH FLOOR, FORT HOUSE,, 221, DR. D N ROAD, FORT, |
B23276918 |
|
37 |
10311636 |
21/09/2011 |
3,000,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, 104, ATLANTA, FIRST FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B23118557 |
|
38 |
10304084 |
26/12/2012 * |
1,002,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA
COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA |
B65407512 |
|
39 |
10309049 |
10/08/2011 |
2,500,000,000.00 |
CORPORATION BANK |
CORPORATION BANKING BRANCH, 104, BHARAT HOUSE, G |
B22066815 |
|
40 |
10301286 |
20/07/2011 |
3,000,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH II, 2ND FLR, VERMA CHAMBERS, HOMJI STREET, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B18468512 |
|
41 |
10292536 |
15/07/2013 * |
5,700,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK
BANDRA |
B80039365 |
|
42 |
10277732 |
15/07/2013 * |
1,640,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK
BANDRA |
B79723185 |
|
43 |
10276062 |
04/03/2011 |
2,000,000,000.00 |
VIJAYA BANK |
MANEK CHAMBER IV, (REAR PORTION), NARIMAN ROAD, MUMBAI, MAHARASHTRA - 400021, INDIA |
B09158940 |
|
44 |
10274299 |
25/02/2011 |
600,000,000.00 |
PUNJAB & SIND BANK |
INDUSTRIAL FINANCE BRANCH, P 19/90, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B08488173 |
|
45 |
10274284 |
29/01/2011 |
2,000,000,000.00 |
BANK OF MAHARASHTRA |
632, YASHOMANGAL, GANDHI NAGAR, OPPOSITE MIG CLUB GROUND, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B08468456 |
|
46 |
10267626 |
24/12/2010 |
3,500,000,000.00 |
INDIAN OVERSEAS BANK |
BHAKTAWAR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B05936497 |
|
47 |
10259198 |
10/12/2010 |
5,000,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, 3, WALCHAND |
B02406874 |
|
48 |
10263424 |
08/12/2010 |
5,000,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH II, 2ND FLOOR, VERMA CHAMBERS, HOMJI STREET, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B02524510 |
|
49 |
10255377 |
16/11/2010 |
3,000,000,000.00 |
UCO BANK |
MID CORPORATE BRANCH, UCO BANK BLDG, 359, D. N. |
A99091423 |
|
50 |
10255971 |
03/11/2010 |
1,500,000,000.00 |
PUNJAB AND SIND BANK |
21, RAJENDRA PLACE,, NEW DELHI, DELHI - 110008, INDIA |
A99653438 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Non convertible
debentures |
|
|
|
Others |
9740.000 |
4830.000 |
|
Related party |
250.000 |
250.000 |
|
Inter corporate
deposits |
|
|
|
Others |
90.000 |
170.000 |
|
Related party |
5500.000 |
7800.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans from banks / financial
institutions |
|
|
|
Short term |
0.000 |
4000.000 |
|
Commercial paper |
|
|
|
Others |
33780.000 |
24060.000 |
|
Related party |
2710.000 |
4820.000 |
|
Total |
52070.000 |
45930.000 |
BACKGROUND
Reliance Capital Limited (‘the Company’) is registered as a Non-Banking Financial Company (‘NBFC’) as defined under Section 45-IA of the Reserve Bank of India Act, 1934. The Company is principally engaged in lending and investing activities.
AMALGAMATION
I Scheme of
Amalgamation between Company, Reliance Equities International Private Limited
(REIPL) and Emerging Money Mall Limited (EMML)
The Scheme of Amalgamation (“the Scheme”) under Sections 391 to 394 of the Companies Act, 1956 between Company, REIPL and EMML has been sanctioned by the Hon’ble High Court of Judicature at Bombay vide Order dated March 22, 2013. The scheme became effective on April 17, 2013 on filing with the Registrar of Companies (RoC) with effect from March 31, 2013 i.e. Appointed Date.
REIPL was incorporated with the main object of providing
broking services to institutional investors and EMML was incorporated with the
main object of e-commerce. The amalgamation has been accounted for under the “Purchase
method” as prescribed by Accounting Standard (AS-14) on “Accounting for
Amalgamation” notified under the Companies (Accounting Standards) Rules, 2006.
The Company has carried out the accounting treatment prescribed in the Scheme
as sanctioned by the Hon’ble High Court of Judicature at Bombay. The required
disclosures as per paragraph 42 of Accounting Standard (AS-14) ‘Accounting for
Amalgamations’ as prescribed under the Companies (Accounting Standards) Rules,
2006 has been provided.
Hence, in accordance with the Scheme:-
(i) As entire issued, subscribed and paid up share capital of REIPL and EMML was held by the Company, no shares of the Company have been allotted in lieu or exchange of its holding in REIPL and EMML. Consequent to the Scheme the share capital of REIPL and EMML stands cancelled.
(ii) On Scheme becoming effective with effect from Appointed Date, the Company has written off its cancelled investments amounting to Rs. 6800.000 Millions in REIPL and EMML to the Statement of Profit and Loss of the Company for the year and recorded all the assets aggregating to Rs. 11030.000 Millions and liabilities aggregating to Rs. 1880.000 Millions as appearing in the books of REIPL and EMML at their respective fair value as decided by the Board of Directors of the Company. The net assets taken over include:
(Rs. in Millions)
|
Assets /
Liabilities Taken Over |
REIPL |
EMML |
Total |
|
Assets |
|
|
|
|
Investments |
10600.000 |
20.000 |
10620.000 |
|
Balance with Schedule Bank (Rs. 5952310.000) |
30.000 |
-- |
30.000 |
|
Loans & Advances (Rs. 300000.000) |
380.000 |
-- |
380.000 |
|
Taxes Paid (Rs. 3941370.000) |
-- |
-- |
-- |
|
Total |
11010.000 |
20.000 |
11030.000 |
|
Liabilities |
|
|
|
|
Loans |
1870.000 |
10.000 |
1880.000 |
|
Other liabilities (Rs. 4860950.000, Rs. 5620240.000) |
-- |
-- |
-- |
|
Total |
1870.000 |
10.000 |
1880.000 |
|
Excess of Assets
over liabilities credit to Capital Reserve |
9140.000 |
10.000 |
9150.000 |
(iii) All Inter-company balances including liabilities on account of loans and advances amounting to Rs. 18060.000 Millions on Appointed Date also stand cancelled. Consequent upon the above Scheme of Amalgamation, there has been a reduction of Rs. 690.000 Millions in the value of investments in Viscount Management Services Limited which has been debited to Capital Reserve.
(iv) Difference aggregating to Rs. 8460.000 Millions after recording both above said items being the excess arising on transfer under the Scheme of assets and liabilities has been credited to Capital Reserve. The reserve created pursuant to the Scheme shall for all regulatory and accounting purposes be considered to be part of the owned funds / net worth of the Company.
(v) In accordance with the provisions of the Scheme of Amalgamation of Reliance Commercial Finance Private Limited (RCFPL) with the Company (“the 2011 Scheme”) sanctioned by the Hon’ble High Court of Judicature at Bombay vide order dated April 29,2011, an equivalent amount, equivalent to the investments written off amounting to Rs. 6800.000 Millions determined as an exceptional item by the Board of Directors of the Company, has been withdrawn from General Reserve to offset the same and credited to the Statement of Profit and Loss so that there is no impact on profit before tax for the year. Had both the Schemes not prescribed the above accounting treatment and Company has followed accounting treatment prescribed under Accounting Standard (AS - 14), the General reserve would have been higher by Rs. 6800.000 Millions and the balance in the statement of profit and loss would have been lower by Rs.6800.000 Millions.
II Scheme of
Amalgamation between Company and Viscount Management Services (Alpha) Limited
(VMSAL)
The Scheme of Amalgamation (“the Scheme”) under Sections 391 to 394 of the Companies Act, 1956 between Company and VMSAL was sanctioned by the Hon’ble High Court of Judicature at Bombay vide Order dated January 20, 2012. The scheme became effective on March 12, 2012 on filing with the Registrar of Companies (RoC) with effect from October 1, 2011 i.e. Appointed Date.
VMSAL was incorporated with the main object of business consultancy service. The amalgamation has been accounted for under the “Purchase method” as prescribed by Accounting Standard (AS-14) on “Accounting for Amalgamation” notified under the Companies (Accounting Standards) Rules, 2006. The Company has carried out the accounting treatment prescribed in the Scheme as sanctioned by the Hon’ble High Court of Judicature at Bombay. The required disclosures as per paragraph 42 of Accounting Standard (AS-14) ‘Accounting for Amalgamations’ as prescribed under the Companies (Accounting Standards) Rules, 2006 has been provided.
Hence, in accordance with the Scheme:-
(i) Before Scheme becomes effective the entire issued, subscribed and paid up share capital was held by the Company. No shares of the Company have been allotted in lieu or exchange of its holding in VMSAL and share capital of VMSAL stands cancelled.
(ii) On Scheme becoming effective with effect from Appointed Date, the Company has recorded all the assets aggregating to Rs. 58390.000 Millions and liabilities aggregating to Rs. 13850.000 Millions as appearing in the books of VMSAL at their respective fair value as decided by the Board of Directors of the Company. The net assets taken over include:
(Rs. in Millions)
|
Assets /
Liabilities Taken Over |
|
|
Assets |
|
|
Investments |
58390.000 |
|
Cash in Hand (Rs. 2 053) |
-- |
|
Balance with Schedule Bank (Rs. 3 529) |
-- |
|
Taxes Paid (Rs. 123640.000) |
-- |
|
Total |
58390.00 |
|
Liabilities |
|
|
Optionally Convertible Preference Share Capital including premium on redemption of Rs. 2040.000 Millions |
2110.000 |
|
Zero Coupon Optionally Fully Convertible Debenture including premium on redemption of Rs.3210.000 Millions |
11740.000 |
|
Short Term Provision (Rs. 275750.000) |
- |
|
Total |
13850.000 |
|
Excess of Assets
over liabilities credit to General Reserve |
44540.000 |
(iii) All inter-company balances including liabilities on account of debentures and inter-company investments amounting to Rs. 13850.000 Millions on appointed date stands cancelled. The excess amount of investments amounting to Rs. 6790.000 Millions has been debited to general reserve toward inter-company investments cancellation.
(iv) Difference aggregating to Rs. 37740.000 Millions after recording both above said items being the excess arising on transfer of assets and liabilities has been credited to General Reserve.
(v) Difference in accounting method between the Company and VMSAL amounitng to Rs. 620.000 Millions has been credited to General Reserve pursuant to the Scheme.
Had the Scheme not prescribed the above accounting treatments, the difference of Rs. 38370.000 Millions would have been
credited to Capital Reserve instead of General Reserve and General Reserve would have been lower by equivalent amount.
III In accordance with the provisions of the Scheme of Amalgamation of Reliance Commercial Finance Private Limited (RCFPL) with the Company (“the Scheme”) sanctioned by the Hon’ble High Court of Judicature at Bombay vide order dated April 29, 2011, the loss on sale of long term investments amounting to Rs. 1490.000 Millions determined as an exceptional item by the Board of Directors of the Company has been debited in the statement of profit and loss for the previous year ended March 31, 2012. As per the Scheme and legal opinion obtained by the Company equivalent amount has been withdrawn from General Reserve to adjust the same, which has been disclosed accordingly. Had such losses not been met from General Reserve, the Company would have reflected a profit before tax of Rs. 4720.000 Millions and Profit after tax for the year would have been Rs. 3700.000 Millions.
MANAGEMENT DISCUSSION
AND ANALYSIS
MACROECONOMIC
OVERVIEW
INDIAN ECONOMIC
ENVIRONMENT
Economic activities in India in 2012-13 remained weak due to both domestic and global factors. The slowdown in the global growth along with continued recession in the Euro zone hurt sentiment. However, steady monetary easing, aided by fiscal austerity measures in developed economies helped to revive global growth towards the end of the year. India’s GDP (Gross Domestic Product) growth decelerated continuously and steeply, moving from 9.2 per cent in the fourth quarter of 2010-11 to 4.5 per cent in third quarter of 2012-13, its slowest pace in four years.
GDP GROWTH
The GDP growth in the first nine months of 2012-13 was 5 per cent as compared to 6.6 per cent in the corresponding period in previous year. The slowdown in growth was broadbased across sectors. The manufacturing sector production fell from 3.6 per cent to 1.2 per cent. The growth slowdown was primarily due to the weakness in industrial activity aggravated by domestic supply bottlenecks, slowdown in the services sector reflecting weak external demand, high interest rates and low level of capital investments due to drop in overall demand. RBI expects a modest improvement in growth at 5.7 per cent in 2013-14 with a pick-up likely only in the second half of the year.
INDUSTRIAL PRODUCTION
In 2012-13, the Index of Industrial Production (IIP) grew at 0.9 per cent compared to 3.5 per cent in 2011-12 due to supply constraints (particularly in infrastructure), rising input costs and lower external and domestic demand.
CURRENT ACCOUNT
DEFICIT (CAD)
Imbalance in the external accounts was one of the primary concerns for investors and regulators alike, in 2012-13. CAD to GDP ratio widened to an all-time high of 6.7 per cent in the third quarter of 2012-13. Although, non-oil and non-gold imports have moderated in the last few months and decline in the global prices of gold and oil provided temporary relief in the last quarter, structural impediments still remain. The government has already taken a range of initiatives to attract capital flows into the country to finance the large CAD, including liberalisation
of FDI limit in various sectors, policy reforms to attract inflows from foreign investors, relaxation of FII debt limit, sharp cut in withholding tax to 5 per cent from 20 per cent on investments in domestic debt etc.
ABOUT RELIANCE
CAPITAL
Reliance Capital Limited (RCL) is a constituent of the Reliance Group and is one of India’s leading private sector financial services companies, and ranks amongst the top private sector financial services and banking groups, in terms of net worth. It is a constituent of CNX Nifty Junior and MSCI India.
Reliance Group is amongst India’s leading business houses with over 230 million customers. It has a strong presence across a wide array of high growth consumer facing businesses of financial services, telecom, energy, power, infrastructure, media and entertainment.
Reliance Capital has interests in asset management and mutual funds; life and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; private equity; asset reconstruction; proprietary investments and other activities in financial services.
ACHIEVEMENTS IN THE
FINANCIAL YEAR 2012-13:
Nippon Life, the largest private life insurer in Asia and is based in Japan, acquired 26 per cent stake in RCAM:
l The transaction pegs RCAM valuation at Rs. 56000.000 Millions (US$ 1 billion), translating to 7 per cent of AAUM at the time of deal.
l This is the largest FDI in Indian Mutual Fund Sector till date and the largest investment in any Indian AMC.
l Nippon Life is a 122 year old Global Fortune 100 company, and manages over Rs. 40 lakh crore (over US$ 800 billion) in assets, amongst the largest total assets in the world for any life insurer.
l Nippon Life invested Rs. 14500.000 Millions (US$ 267 million) for 26 per cent stake.
In financial year 2012-13, out of the top performing 10 Equity schemes of Rs. 10 billion and above in the MF industry, 3 schemes belong to Reliance Mutual Fund.
RCAM continued to expand its institutional business in Singapore and raised over US$600 million in financial year 2012-13 across India offshore debt products.
Investor / Distributor (Branch Walk-in) Overall Satisfaction consistently above 95 per cent as per Internal CSAT Survey. RCAM has enhanced its focus on the digital space to improve investor experience. There are over 6.8 lakh fans of the RMF Facebook page, the highest for any Mutual Fund in India.
OUTLOOK
Globally, 2012-13 was another difficult year, impacted by the ongoing Euro debt crisis and slow global growth. However, global growth is expected to improve by the second half of 2013- 14. Domestically, the investor sentiment improved significantly by second half of last fiscal as the Government undertook several initiatives to alleviate concerns regarding the policy and tax environment in India as well as continuing on the path of fiscal consolidation. With central banks in advanced economies remaining in easing mode, inflows of foreign capital increased. But improvement in domestic growth will be slow and gradual with some pick-up in second half of the year, assuming normal monsoon. Growth momentum can be increased by improving governance, easing the supply bottlenecks, and stepping up public investment, alongside continuing commitment to fiscal consolidation.
The financial sector achieved mixed success in 2012-13. New business premiums for the life insurance sector remained flat. Lending margins improved marginally as benefits from the lowering of interest rates by the RBI were partially offset by flat yields, while growth in profitability was limited by low credit offtake amid slow industrial recovery. Mutual Fund industry AUMs rose in the later part of the year, driven by favourable regulations, improved
capital market sentiment and rise in the retail debt penetration. Broking revenues continued to be weak due to low retail interest. Investors expect a continuance of the growth-oriented regulatory changes, initiated in the second half of 2012-13, for 2013-14 to fare significantly better than the previous one.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
i) Guarantees to Banks and Financial Institutions on behalf of third parties |
12810.000 |
9830.000 |
|
ii) Claims against the Company not acknowledge as debt |
200.000 |
220.000 |
STATEMENT OF
STANDALONE AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2014
(Rs.
In. Millions)
|
Particulars |
Quarter Ended |
Year ended |
||
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
Unaudited |
Unaudited |
Audited |
|
|
Income from operations |
|
|
|
|
|
(a) Income from operations |
7490.000 |
7390.000 |
31000.000 |
|
|
(b) Other operating income |
100.000 |
280.000 |
690.000 |
|
|
Total income from operations (net) |
7590.000 |
7670.000 |
31690.000 |
|
|
Expenses |
|
|
|
|
|
(a) Cost of materials consumed |
-- |
-- |
-- |
|
|
(b) Purchases of stock-in-trade |
-- |
-- |
-- |
|
|
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
-- |
-- |
-- |
|
|
(d) Employee benefits expense |
400.000 |
390.000 |
1480.000 |
|
|
(e) Depreciation and amortisation expense |
90.000 |
90.000 |
340.000 |
|
|
(f) Professional Fees |
260.000 |
240.000 |
900.000 |
|
|
(g) Provision for NPA and doubtful debt / Written off (Net) |
(300.000) |
340.000 |
880.000 |
|
|
(h) Provision for Diminution in the Value Investments / MTM Loss |
(590.000) |
(150.000) |
(230.000) |
|
|
(i) Other expenses |
430.000 |
430.000 |
1740.000 |
|
|
Total expenses |
290.000 |
1340.000 |
5110.000 |
|
|
Profit from Operations before other income,
finance costs and exceptional Items (1-2) |
7300.000 |
6330.000 |
26580.000 |
|
|
Other Income |
490.000 |
80.000 |
850.000 |
|
|
Profit / (Loss) from ordinary activities before
finance costs and exceptional items (3 + 4) |
7790.000 |
6410.000 |
27430.000 |
|
|
Finance costs |
5750.000 |
5690.000 |
22790.000 |
|
|
Profit / (Loss) from ordinary activities
after finance costs but before exceptional items (5 - 6) |
2040.000 |
720.000 |
4640.000 |
|
|
Exceptional items |
-- |
-- |
-- |
|
|
Profit / (Loss) from Ordinary Activities before Tax (7-8) |
2040.000 |
720.000 |
4640.000 |
|
|
Tax expense (Net) |
390.000 |
50.000 |
550.000 |
|
|
Net Profit (+) / Loss (-) from Ordinary Activities
after Tax (9-10) |
1650.000 |
670.000 |
4090.000 |
|
|
Extraordinary Items |
-- |
-- |
-- |
|
|
Net Profit / (Loss) for the period (11 -12) |
1650.000 |
670.000 |
4090.000 |
|
|
Paid-up equity Share Capital of Rs. 10 each |
2440.000 |
2460.000 |
2440.000 |
|
|
Reserves excluding revaluation reserves as
per balance sheet of previous accounting year |
|
|
113900.000 |
|
|
Ratios |
|
|
|
|
|
(a) Capital Adequacy Ratio |
|
|
16.31% |
|
|
(b) Earning Per Share of Rs.
10 each (not annualised) |
|
|
|
|
|
i. Before extraordinary items |
|
|
|
|
|
Basic |
6.74 |
2.74 |
16.67 |
|
|
Diluted |
6.74 |
2.74 |
16.67 |
|
|
ii. After extraordinary items |
|
|
|
|
|
Basic |
6.74 |
2.74 |
16.67 |
|
|
Diluted |
6.74 |
2.74 |
16.67 |
|
|
(c) NPA Ratios |
|
|
|
|
|
i) Gross NPA |
|
|
343 |
|
|
ii) Net NPA |
|
|
256 |
|
|
iii) % of Gross NPA / Gross Advances |
|
|
1.88% |
|
|
iv) % of Net NPA / Net Advances |
|
|
1.41% |
|
|
(d) Return on Assets (not
annualised) [ PBT / Total Assets ] |
|
|
1.27% |
|
|
|
|
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
|
Public shareholding |
|
|
|
|
|
- Number of Shares |
112650497 |
112650497 |
112650497 |
|
|
- Percentage of shareholding |
45.86% |
45.86% |
45.86% |
|
|
Promoter and Promoter Group
Shareholding a) Pledged / Encumbered |
|
|
|
|
|
- Number of shares |
-- |
-- |
-- |
|
|
- Percentage of shares (as a
% of the total shareholding of promoter and |
0.00% |
0.00% |
0.00% |
|
|
promoter group) |
|
|
|
|
|
- Percentage of shares (as a
% of the total share capital of the Company) |
0.00% |
0.00% |
0.00% |
|
|
b) Non encumbered |
|
|
|
|
|
- Number of Shares |
132982303 |
132982303 |
132982303 |
|
|
- Percentage
of shares (as a % of the total shareholding of promoter and |
100.00% |
100.00% |
100.00% |
|
|
promoter group) |
|
|
|
|
|
- Percentage of shares (as a
% of the total share capital of the Company) |
54.14% |
54.14% |
54.14% |
|
|
Particulars |
Quarter ended March 31, 2014 |
|
INVESTOR COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
2 |
|
Disposed off during the quarter |
2 |
|
Remaining unresolved at the end of the quarter |
Nil |
AUDITED STANDALONE SEGMENT REPORTING FOR THE QUARTER AND YEAR
ENDED 31st MARCH, 2013
(Rs.
In Millions)
|
Particulars
|
Quarter Ended |
Year ended |
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
Unaudited |
Unaudited |
Audited |
|
Segment Revenue |
|
|
|
|
Finance & Investments |
3550.000 |
3230.000 |
14770.000 |
|
Commercial Finance |
4530.000 |
4530.000 |
17800.000 |
|
Total |
8080.000 |
7760.000 |
32570.000 |
|
Inter segment |
-- |
(10.000) |
(30.000) |
|
Net Income |
8080.000 |
7750.000 |
32540.000 |
|
Segment Results |
|
|
|
|
Finance & Investments |
730.000 |
(160.000) |
1010.000 |
|
Commercial Finance |
1310.000 |
880.000 |
3640.000 |
|
Total Segment Profit before Tax |
2040.000 |
720.000 |
4650.000 |
|
Unallocated expenses |
|
|
(10.000) |
|
[*Rs. 32 94 942,**Rs. 27 81 041 ] |
|
|
|
|
Profit before Tax |
2040.000 |
720.000 |
4640.000 |
|
Capital Employed |
|
|
|
|
Finance & Investments |
94900.000 |
96960.000 |
94900.000 |
|
Commercial Finance |
21440.000 |
20590.000 |
21440.000 |
|
Total |
116340.000 |
117550.000 |
116340.000 |
NOTES :
1 The figures of the quarter ended March 31, 2014 are the balancing figures behveen the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year. The previous financial year/period figures have been regrouped/reclassified wherever necessary to conform to current quarter and year ended presentation.
2 The Company has reported segment wise information as per Accounting Standard (AS 17) on 'Segment Reporting', in terms of Companies (Accounting Standards) Rules, 2006. The operations of the Company are conducted within India, there is no separate reportable geographical segment and the Company reported the following business segments :
(i) Finance and lnvestments comprising of the investments and corporate lending business of the Company.
(ii) Commercial finance comprising of the commercial finance business of the Company.
3 In terms of SEBl (ESOS and ESPS) Guidelines, 1999 and recent opinion of the Expert Advisory Committee (EAC) of the Institute of Chartered Accountants of India ('ICAI') the accounting treatment for the equity shares of the Company held by the RCAP ESOS Trust as at 31st March, 2014 has been given in Standalone Financial Results of the Company. The said Trust is holding 16,00,000 equity shares of Rs.10 each of the Company. Face value of the said equity shares are presented as deduction from the paid up share capital and balance Rs.60 crore being an amount exceeding the said face value are presented as deduction from the Securities Premium with corresponding adjustment to the loan receivable from the Trust.
4 The Board of Directors have recommended a dividend of Rs.8.50 per equity share of Rs.10 each for the year subject to the approval of the members of the Company.
5 The above results were reviewed by the Audit Committee. The Board of Directors at its meeting held on May 2, 2014 approved the above results and its release.
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
(Rs.
In Millions)
|
Particulars
|
31.03.2014 (Rs. In Millions) |
|
EQUITY AND LIABILITIES |
|
|
Shareholders' funds |
|
|
(a) Share capital |
2440.000 |
|
(b) Reserves and surplus |
113900.000 |
|
Sub-total - Shareholders' funds |
116340.000 |
|
Non-Current Liabilities |
|
|
(a) Long-term borrowings |
121280.000 |
|
(b) Deferred tax liabilities (net) |
120.000 |
|
(c) Other Long-term liabilities |
820.000 |
|
(d) Long-Term provisions |
360.000 |
|
Sub-total - Non-current liabilities |
122580.000 |
|
Current Liabilities |
|
|
(a) Short-term borrowings |
67540.000 |
|
(b) Trade payables |
90.000 |
|
(c) Other current liabilities |
56200.000 |
|
(d) Short-term provisions |
2400.000 |
|
Sub-total - Current liabilities |
126230.000 |
|
|
|
|
TOTAL - EQUITY AND LIABILITIES |
365150.000 |
|
ASSETS |
|
|
Non-current assets |
|
|
(a) Fixed assets |
1820.000 |
|
(b) Non-Current investments |
131030.000 |
|
(c) Long-term loans and advances |
127380.000 |
|
(d) Other non-current assets |
17560.000 |
|
Sub-total - Non-current assets |
277790.000 |
|
Current assets |
|
|
(a) Current investments |
4670.000 |
|
(b) Trade receivables |
50.000 |
|
(c) Cash & Bank balances |
18480.000 |
|
(d) Short-term loans and advances |
59320.000 |
|
(e) Other current assets |
4840.000 |
|
Sub-total - Current assets |
87360.000 |
|
Total Assets |
365150.000 |
FIXED ASSETS
Tangible Assets
· Plant and Equipments
· Data processing Machineries
· Vehicles
· Buildings
· Data processing Machineries
· Furniture and Fixtures
· Office Equipments
· Leasehold Improvement
Intangible Assets
· Computer Software / Licensing Cost
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.59.72 |
|
|
1 |
Rs.102.45 |
|
Euro |
1 |
Rs.81.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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.