MIRA
INFORM REPORT
|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MUTHOOT FINANCE LIMITED |
|
|
|
|
Formerly Known
As : |
THE MUTHOOT FINANCE PRIVATE LIMITED MUTHOOT ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Muthoot Chambers, Opposite Saritha Theatre
Complex, Ernakulam-682018, Kerala |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
14.03.1997 |
|
|
|
|
Com. Reg. No.: |
09-011300 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3717.128 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L65910KL1997PLC011300 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNT00811G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT0343B |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Providing Financial Services and Power Generation. |
|
|
|
|
No. of Employees
: |
25351 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 170580000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a good track record. 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 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Convertible debenture AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
May 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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-484-2394712)
LOCATIONS
|
Registered / Head Office : |
2nd Floor, Muthoot Chambers, Opposite Saritha Theatre
Complex, Ernakulam -682018, Kerala, India |
|
Tel. No.: |
91-484-2396478 / 2394712 |
|
Fax No.: |
91-484-2396506 |
|
E-Mail : |
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|
Website : |
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|
Corporate Office : |
The Muthoot Group, Muthoot Towers - Alaknanda, New Delhi – 110019,
India |
|
Tel. No.: |
91-11-46697777 |
|
Fax No.: |
91-11-29841832 |
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|
|
|
Overseas Office : |
Located at: · United Arab Emirates · United Kingdom · USA |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. M. G. George Muthoot |
|
Designation : |
Chairman |
|
Address : |
Muthoot House G-74, East of Kailash, New Delhi-110063, |
|
Date of Birth/Age : |
02.11.1949 |
|
Qualification : |
B. Tech |
|
Experience : |
38 years |
|
|
|
|
Name : |
Mr. George Alexander Muthoot |
|
Designation : |
Managing Director |
|
Address : |
Muthoot House G-343, Panampilly Nagar, Ernakulam-682036, Kerala |
|
Date of Birth/Age : |
16.09.1955 |
|
Qualification : |
FCA |
|
Experience : |
32 years |
|
|
|
|
Name : |
Mr. George Thomas Muthoot |
|
Designation : |
Whole-time Director |
|
Address : |
Muthoot House H No. 9/324 A, Baker-686001, Kerala |
|
Date of Birth/Age : |
25.12.1950 |
|
Qualification : |
Under Graduate |
|
Experience : |
37 years |
|
|
|
|
Name : |
Mr. George Jacob Muthoot |
|
Designation : |
Whole-time Director |
|
Address : |
T C 4/2515, Muthoot House, Pattom. P. O-695014, Kerala |
|
Date of Birth/Age : |
21.09.1952 |
|
Qualification : |
B. Tech |
|
Experience : |
35 years |
|
|
|
|
Name : |
Mr. George Joseph |
|
Designation : |
Non –Executive Independent Director |
|
Date of Birth/Age : |
26.04.1949 |
|
Qualification : |
B.Com; CAIIB |
|
Date of Appointment : |
21.07.2010 |
|
Profile: |
George Joseph is
a first rank holder commerce graduate from Kerala University. He is also a
certified associate of the Indian Institute of Banking and Finance. He is the
former chairman and managing director of Syndicate Bank. He joined Syndicate
Bank as an executive director on April 01, 2006 and was elevated to the post
of Chairman and Managing Director on August 02, 2008 and subsequently retired
from office on April 30, 2009. Before joining the Syndicate Bank, George
Joseph was employed with Canara Bank for over 36 years. |
|
|
|
|
Name : |
Mr. P. George Varghese |
|
Designation : |
Non –Executive Independent Director |
|
Address : |
A 52, |
|
Date of Birth/Age : |
18.04.1948 |
|
|
|
|
Name : |
Mr. John K. Paul |
|
Designation : |
Non –Executive Independent Director |
|
Date of Birth/Age : |
28.03.1953 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
21.07.2010 |
|
Profile: |
John K Paul is a
graduate in engineering from the Regional Engineering College, Kozhikode and
a businessman by profession. He is a director of Popular Vehicles and
Services Limited, leading and well reputed dealers of automobiles and
accessories from Kerala. He is also a trustee of the Kuttukaran Institute for
HRD, a institution offering professional courses. He was the president of the
Kerala Chamber of Commerce and Industry from 2005 to 2006. He was also the
president of both the Kerala Hockey Association from 2005 onwards and the
Ernakulam District Hockey Association from 2004 onwards. |
|
|
|
|
Name : |
Mr. K John Mathew |
|
Designation : |
Non –Executive Independent Director |
|
Address : |
|
|
Date of Birth/Age : |
09.05.1932 |
KEY EXECUTIVES
|
Name : |
Mr. Anjana Varghese |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
297797872 |
75.00 |
|
|
297797872 |
75.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
297797872 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
12751486 |
3.21 |
|
|
11738 |
0.00 |
|
|
56273929 |
14.17 |
|
|
69037153 |
17.39 |
|
|
|
|
|
|
3590061 |
0.90 |
|
|
|
|
|
|
4667254 |
1.18 |
|
|
902137 |
0.23 |
|
|
21069353 |
5.31 |
|
|
136 |
0.00 |
|
|
770684 |
0.19 |
|
|
237743 |
0.06 |
|
|
20060790 |
5.05 |
|
|
30228805 |
7.61 |
|
Total Public shareholding (B) |
99265958 |
25.00 |
|
Total (A)+(B) |
397063830 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
397063830 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Financial Services and Power Generation. |
GENERAL INFORMATION
|
No. of Employees : |
25351 (Approximately) |
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Bankers : |
Reserve Bank of India |
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|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rangamani and Company Chartered Accountant |
|
Address : |
17/598, IInd floor, Card Bank Building, West of YMCA Bridge, V.C.S.B.
Road, Alleppey – 688001 |
|
|
|
|
Associates : |
¨ Muthoot Vehicle
and Assets Finance Limited ¨ Muthoot Leisure
And Hospitality Services Private Limited ¨ MGM Muthoot
Medical Centre Private Limited ¨ Muthoot
Marketing Services Private Limited ¨ Muthoot
Broadcasting Private Limited ¨ Muthoot Exchange
Company Private Limited ¨ Backdrop
Advertising Private Limited ¨ Muthoot Global
Money Transfers Private Limited ¨ Emgee Board and
Paper Mills Private Limited ¨ Mar Gregorios
Memorial Muthoot Medical Centre ¨ Muthoot Precious
Metals Corporation ¨ GMG Associates ¨ Muthoot
Insurance Brokers Private Limited ¨ Emgee Muthoot
Benefit Funds (India) Limited ¨ Geo Bros Muthoot
Funds (India) Limited ¨ Muthoot
Investment Advisory Services Private Limited ¨ Muthoot
Insurance Brokers Private Limited ¨ Muthoot M George
Permanent Fund Limited ¨ Muthoot Medical
Centre, Kozhencherry ¨ 20. Muthoot
Securities Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : NA
Issued, Subscribed & Paid-up Capital : Rs.3717.128 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000000 |
Equity Shares |
Rs.10/- each |
Rs.4500.000 Millions |
|
5000000 |
|
Rs.1000/- each |
Rs.5000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.9500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
371712768 |
Equity Shares |
Rs.10/- each |
Rs.3717.128 Millions |
|
|
|
|
|
Terms and Rights attached to Equity Shares
The Company has only one class of equity share having face value ` 10/- per share. All these shares have the same rights and preferences with respect to the payment of dividend, repayment of capital and voting. The dividend proposed by your Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be enti tled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.
The reconciliation of the
number of shares outstanding and the amount of share capital as at 31st March, 2013 and
31st March, 2012 is set out below:
|
Particulars |
Equity Shares 31.03.2013 |
|
|
|
Number |
Amount |
|
Shares
outstanding at the beginning of the year |
371,712,768 |
3717.128 Millions |
|
Shares
Issued during the year |
-- |
-- |
|
Shares
outstanding at the end of the year |
371,712,768 |
3717.128 Millions |
Disclosure as to the shareholders holding
more than 5 percent shares
|
Name of
Shareholder |
As on 31.03.2013 |
|
|
|
No. of Shares held |
% of Holding |
|
M.
G. George Muthoot |
47,385,132 |
12.75% |
|
George
Alexander Muthoot |
44,464,400 |
11.96% |
|
George
Jacob Muthoot |
44,464,400 |
11.96% |
|
George
Thomas Muthoot |
44,464,400 |
11.96% |
|
Susan
Thomas |
29,985,068 |
8.07% |
Disclosure as to aggregate number and class of shares
allotted as pursuant to contract(s) without payment being received in cash,
fully paid up by way of bonus shares and shares bought back.
|
Particulars |
Aggregate No. of Shares issued in the financial years |
||||
|
|
2012-13 |
2011-12 |
2010-11 |
2009-10 |
2008-09 |
|
|
|
|
|
|
|
|
Equity Shares : |
|
|
|
|
|
|
Fully paid up pursuant to contract(s)
without payment being received in cash |
Nil |
Nil |
Nil |
Nil |
Nil |
|
Fully
paid up by way of bonus shares |
Nil |
Nil |
Nil |
252,000,000 |
42,000,000 |
|
Shares
bought back |
Nil |
Nil |
Nil |
Nil |
Nil |
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 |
3717.128 |
3717.128 |
3717.128 |
|
(b) Reserves & Surplus |
38928.634 |
33638.524 |
25540.192 |
|
(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) |
42645.762 |
37355.652 |
29257.320 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
69046.032 |
79529.419 |
62416.534 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
8975.081 |
5633.839 |
2686.933 |
|
(d) long-term provisions |
18.733 |
2.410 |
0.000 |
|
Total Non-current Liabilities (3) |
78039.846 |
85165.668 |
65103.467 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
60642.867 |
94802.406 |
92386.822 |
|
|
72431.871 |
327.059 |
392.237 |
|
(c) Other current
liabilities |
|
72828.861 |
43835.417 |
|
(d) Short-term provisions |
2178.394 |
3683.008 |
2746.756 |
|
Total Current Liabilities (4) |
135253.132 |
171641.334 |
139361.232 |
|
|
|
|
|
|
TOTAL |
255938.740 |
294162.654 |
233722.019 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3119.748 |
2888.081 |
2621.056 |
|
(ii) Intangible Assets |
6.066 |
5.696 |
5.840 |
|
(iii) Capital
work-in-progress |
83.785 |
95.964 |
38.948 |
|
(iv)
Intangible assets under development |
60.267 |
40.432 |
16.417 |
|
(b) Non-current Investments |
46.750 |
75.049 |
75.049 |
|
(c) Deferred tax assets (net) |
210.471 |
195.442 |
3.896 |
|
(d) Long-term Loan and Advances |
1019.452 |
1045.225 |
1098.701 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.522 |
|
Total Non-Current Assets |
4546.539 |
4345.889 |
3860.429 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
307.000 |
750.000 |
900.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
11639.680 |
11481.770 |
7340.232 |
|
(d) Cash and cash
equivalents |
20489.268 |
13419.988 |
7950.386 |
|
(e) Short-term loans and
advances |
218944.896 |
264131.088 |
213600.222 |
|
(f) Other current assets |
11.357 |
33.919 |
70.750 |
|
Total Current Assets |
251392.201 |
289816.765 |
229861.590 |
|
|
|
|
|
|
TOTAL |
255938.740 |
294162.654 |
233722.019 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
49278.820 |
53588.985 |
45366.721 |
|
|
|
Other Income |
195.545 |
282.382 |
123.836 |
|
|
|
TOTAL |
49474.365 |
53871.367 |
45490.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
5917.122 |
5452.749 |
4144.770 |
|
|
|
Rent |
1541.704 |
0.000 |
0.000 |
|
|
|
Advertisement |
702.158 |
0.000 |
0.000 |
|
|
|
Other expenses |
2205.244 |
3567.827 |
3393.183 |
|
|
|
Directors Remunerations |
0.000 |
192.000 |
192.000 |
|
|
|
Provisions and Write Offs |
438.087 |
895.463 |
419.971 |
|
|
|
TOTAL |
10804.315 |
10108.039 |
8149.924 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
38670.050 |
43763.328 |
37340.633 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
26259.880 |
28194.443 |
23698.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12410.170 |
15568.885 |
13641.640 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
474.615 |
454.430 |
329.169 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
11935.555 |
15114.455 |
13312.471 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4134.866 |
5072.060 |
4392.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
7800.689 |
10042.395 |
8920.240 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13687.642 |
9569.276 |
5795.201 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Equity Dividend |
|
1672.707 |
1486.851 |
|
|
|
Corporate Dividend Tax |
|
271.355 |
241.204 |
|
|
|
Transfer to General Reserve |
|
1004.239 |
892.024 |
|
|
|
Transfer to Debenture Redemption Reserve |
NA |
967.249 |
742.038 |
|
|
|
Transfer to Statutory Reserve |
|
2008.479 |
1784.048 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
13687.642 |
9569.276 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
0.103 |
0.433 |
|
|
TOTAL IMPORTS |
NA |
0.103 |
0.433 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
20.99 |
27.02 |
24.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
15.77 |
18.64 |
19.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.22 |
28.20 |
29.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.67 |
5.15 |
5.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.40 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.04 |
4.67 |
5.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86 |
1.69 |
1.65 |
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 |
3717.128 |
3717.128 |
3717.128 |
|
Reserves & Surplus |
25540.192 |
33638.524 |
38928.634 |
|
Net
worth |
29257.320 |
37355.652 |
42645.762 |
|
|
|
|
|
|
long-term borrowings |
62416.534 |
79529.419 |
69046.032 |
|
Short term borrowings |
92386.822 |
94802.406 |
60642.867 |
|
Total
borrowings |
154803.356 |
174331.825 |
129688.899 |
|
Debt/Equity
ratio |
5.291 |
4.667 |
3.041 |
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 |
45366.721 |
53588.985 |
49278.820 |
|
|
|
18.124 |
(8.043) |
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 |
45366.721 |
53588.985 |
49278.820 |
|
Profit |
8920.240 |
10042.395 |
7800.689 |
|
|
19.66% |
18.74% |
15.83% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
|
|
|
|
Subordinated Debt |
NA |
408.023 |
|
(b) Other loans and
advances |
|
|
|
Subordinated Debt - Listed |
|
100.000 |
|
Subordinated Debt |
|
22592.949 |
|
|
|
|
|
Total |
NA |
23100.972 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10507556 |
01/07/2014 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR,17, R. KAMANI MARG, BALLARD ESTATE,
MUMBAI, Maharashtra - 400001, INDIA |
C09385436 |
|
2 |
10493770 |
31/03/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
C03919891 |
|
3 |
10494779 |
27/03/2014 |
2,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR,17, R. KAMANI MARG, BALLARD ESTATE,
MUMBAI, Maharashtra - 400001, INDIA |
C03125804 |
|
4 |
10490295 |
14/03/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
C03565553 |
|
5 |
10484224 |
27/02/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B98810971 |
|
6 |
10480334 |
07/02/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B96410923 |
|
7 |
10480337 |
04/02/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B96468772 |
|
8 |
10476149 |
31/01/2014 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR,17, R. KAMANI MARG, BALLARD ESTATE,
MUMBAI, Maharashtra - 400001, INDIA |
B95318507 |
|
9 |
10479221 |
20/01/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B96392907 |
|
10 |
10476280 |
17/01/2014 |
1,760,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
40/8815, 1ST FLOOR, M G ROAD, ERNAKULAM, Kerala - 682035, INDIA |
B95785986 |
|
11 |
10473911 |
10/01/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B94774338 |
|
12 |
10473913 |
03/01/2014 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B94773975 |
|
13 |
10474821 |
24/12/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B94390499 |
|
14 |
10469916 |
05/12/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B93170181 |
|
15 |
10463866 |
29/11/2013 |
2,850,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B90629130 |
|
16 |
10469915 |
16/11/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B93169621 |
|
17 |
10463453 |
29/10/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B90125675 |
|
18 |
10457134 |
09/10/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B87254082 |
|
19 |
10456986 |
26/09/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B87248795 |
|
20 |
10449290 |
17/09/2013 |
2,850,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR,17, R. KAMANI MARG, BALLARD ESTATE,
MUMBAI, Maharashtra - 400001, INDIA |
B84837012 |
|
21 |
10452944 |
06/09/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B85774537 |
|
22 |
10449702 |
31/08/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B85052397 |
|
23 |
10448518 |
12/08/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B84054667 |
|
24 |
10446255 |
30/07/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B82196197 |
|
25 |
10446182 |
09/07/2013 |
300,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B82195447 |
|
26 |
10436330 |
29/06/2013 |
1,000,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
40/8815, 1ST FLOOR, M G ROAD, ERNAKULAM, Kerala - 682035, INDIA |
B79394474 |
|
27 |
10435971 |
24/06/2013 |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B79003505 |
|
28 |
10426326 |
18/04/2013 |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B74724246 |
|
29 |
10418656 |
26/03/2013 |
2,500,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 1/32, ULSOOR ROAD CROSS, ULSOOR ROAD, BANGALORE,
Karnataka - 560042, INDIA |
B72871163 |
|
30 |
10420730 |
25/03/2013 |
1,000,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
40/8815, 1ST FLOOR, M. G. ROAD, ERNAKULAM, Kerala - 682035, INDIA |
B73396186 |
|
31 |
10413014 |
06/03/2013 |
500,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
FIRST FLOOR, AMRITHA TOWERS, KPCC JUNCTION, M G ROAD, ERNAKULAM,
Kerala - 682011, INDIA |
B71080683 |
|
32 |
10412833 |
28/02/2013 |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKKAVATTOM,
KOCHI, Kerala - 682019, INDIA |
B70346754 |
|
33 |
10401898 |
14/01/2013 |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B67543447 |
|
34 |
10392162 |
18/12/2012 |
2,000,000,000.00 |
UCO BANK |
M G ROAD, RAVIPURAM, ERNAKULAM, Kerala - 682016, |
B64216005 |
|
35 |
10389304 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B75056259 |
|
36 |
10383971 |
25/10/2012 |
2,900,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR,17,R. KAMANI MARG, BALLARD ESTATE,
MUMBAI, Maharashtra - 400001, INDIA |
B60718871 |
|
37 |
10381957 |
27/09/2012 |
3,000,000,000.00 |
THE FEDERAL BANK LTD |
PB NO.1927, BANERJI ROAD, ERNAKULAM NORTH, KOCHI, Kerala - 682018,
INDIA |
B60249927 |
|
38 |
10378415 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B73484677 |
|
39 |
10375333 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B73484206 |
|
40 |
10365113 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B73483141 |
|
41 |
10356912 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B73482663 |
|
42 |
10353898 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B73481913 |
|
43 |
10352638 |
16/04/2012 |
2,750,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI,
Maharashtra - 400001, INDIA |
B37749827 |
|
44 |
10341571 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B73481426 |
|
45 |
10340130 |
05/05/2012 * |
1,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI,
Maharashtra - 400001, INDIA |
B40377525 |
|
46 |
10332639 |
29/01/2013 * |
2,000,000,000.00 |
STATE BANK OF MYSORE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM,
ERNAKULAM, Kerala - 682019, INDIA |
B68010800 |
|
47 |
10333503 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKAVATTOM, ERNAKULAM,
Kerala - 682019, INDIA |
B76038942 |
|
48 |
10333101 |
12/01/2012 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI,
Maharashtra - 400001, INDIA |
B29801008 |
|
49 |
10322318 |
15/12/2011 |
2,000,000,000.00 |
UCO BANK |
M G ROAD, RAVIPURAM, ERNAKULAM, Kerala - 682016, INDIA |
B27540871 |
|
50 |
10323996 |
30/09/2013 * |
2,250,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD, BANGALORE, BANGALORE, Karnataka - 560001, INDIA |
B87821864 |
|
51 |
10323129 |
05/04/2013 * |
9,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKKAVATTOM,
KOCHI, Kerala - 682019, INDIA |
B73480857 |
|
52 |
10326318 |
30/11/2011 |
8,000,000,000.00 |
ICICI BANK LIMITED |
AGRI BUSINESS GROUP, II FLOOR, ADONAI TOWERS, S A |
B29032067 |
|
53 |
10318690 |
18/03/2013 * |
3,000,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, ATLANTA, FIRST FLOOR, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B72067929 |
|
54 |
10314375 |
26/09/2011 |
1,000,000,000.00 |
ORIENTAL BANK OF COMMERCE |
OPERA HOUSE BRANCH, SHREEJI CHAMBERS, TATA ROAD, NO: 2, OPERA HOUSE,
MUMBAI, Maharashtra - 400004, |
B24008823 |
|
55 |
10312398 |
22/09/2011 |
500,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
40/8815, 1ST FLOOR, M G ROAD, ERNAKULAM, Kerala - 682035, INDIA |
B23315161 |
|
56 |
10310706 |
05/04/2013 * |
10,000,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKKAVATTOM,
KOCHI, Kerala - 682019, INDIA |
B73485245 |
|
57 |
10307559 |
07/09/2011 |
7,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate, MUMBAI,
Maharashtra - 400001, INDIA |
B20232096 |
|
58 |
10308313 |
08/08/2011 |
5,000,000,000.00 |
PUNJAB NATIONAL BANK |
M.G.ROAD, ERNAKULAM, Kerala - 682016, INDIA |
B21566542 |
|
59 |
10302449 |
27/02/2012 * |
5,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI,
MUMBAI, Maharashtra - |
B35513530 |
|
60 |
10295520 |
05/04/2013 * |
10,000,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKKAVATTOM,
KOCHI, Kerala - 682019, INDIA |
B75054601 |
|
61 |
10296328 |
19/03/2012 * |
2,000,000,000.00 |
PUNJAB & SIND BANK |
M G ROAD, ERNAKULAM, Kerala - 682011, INDIA |
B36145670 |
|
62 |
10276470 |
05/04/2013 * |
10,000,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROA |
B73477812 |
|
63 |
10263803 |
11/03/2013 * |
4,000,000,000.00 |
CORPORATION BANK |
M.G. ROAD, ERNAKULAM, Kerala - 682016, INDIA |
B72364342 |
|
64 |
10263029 |
30/01/2013 * |
3,000,000,000.00 |
ANDHRA BANK |
ERNAKULAM BRANCH, AJAY VIHAR, M.G ROAD, ERNAKULAM, Kerala - 682016,
INDIA |
B68639889 |
|
65 |
10258378 |
05/04/2013 * |
12,000,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKKAVATTOM,
KOCHI, Kerala - 682019, INDIA |
B73477218 |
|
66 |
10265549 |
25/11/2010 |
800,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B03636156 |
|
67 |
10260642 |
11/02/2013 * |
8,950,000,000.00 |
SYNDICATE BANK |
SAI PADMAM BUILDING, DESHABHIMANI JUNCTION, KALOOR, ERNAKULAM, Kerala
- 682017, INDIA |
B68987627 |
|
68 |
10241944 |
05/04/2013 * |
8,500,000,000.00 |
JOLY VARGHESE |
CHARTERED ACCOUNTANT, 30/1998 C I, PONNURUNNI ROAD, CHALIKKAVATTOM,
KOCHI, Kerala - 682019, INDIA |
B73476590 |
|
69 |
10244081 |
28/06/2011 * |
6,000,000,000.00 |
CENTRAL BANK OF INDIA |
ERNAKULAM BRANCH, M.G. ROAD, NORTH END, ERNAKULAM, Kerala - 682035,
INDIA |
B18589150 |
|
70 |
10240764 |
17/07/2010 |
1,000,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL |
A93921880 |
* Date of charge modification
FIXED ASSETS
œ Land
œ Building
œ Furniture and Fixtures
œ Plant and Machinery
œ Computer
œ Motor car
œ Wind Mill
œ Computer Software
PRESS RELEASE
MUTHOOT FINANCE MAY DECIDE ON SEEKING BANK LICENCE SOON
March
3, 2013
Gold financing major, Muthoot Finance Limited is considering to become a bank under the new guidelines laid out by the Reserve Bank of India (RBI).
The top company official informed that the decision will soon be taken at a
meeting of the board of directors of the company next month.
"We are moving closer to apply for a bank license. Muthoot is positive
after the RBI's new guidelines for new bank licenses. We will put the matter to
the board of directors at their next meeting. They will take a final decision
on the same," said George Alexander Muthoot, MD, Muthoot Finance.
Last month, the RBI had issued guidelines for non-banking financial companies
and broking houses for taking banking license.
However, under the said guidelines, NBFCs can become a bank if all the
activities undertaken by them are allowed to be undertaken by a bank
departmentally.
Further, these NBFCs can still seek a banking license given that they divest
those activities which banks are not allowed to undertake.
Muthoot has set ambitious plan to become a full-fledged bank since the
gold-loan business appears to be on a consolidation.
"There seems to be a kind of a consolidation happening in the gold loan business. The growth is there but the pace of growth will be around 5-10 per cent or almost flat," said Muthoot.
The company has close to 4,000 branches with 60 per cent of them being in the
southern market.
Muthoot has over 6 million credit accounts with a total outstanding gold loan
worth Rs 25,388 crore as on December 31, 2012.
Once RBI clears bank license, Muthoot stake to get diluted
Senior Vice
President of Muthoot said that once decision is announced they will approach
SEBI for necessary approvals
February 18, 2014
Promoters of Muthoot Finance may dilute their stake once their application for bank licence is cleared by the Reserve Bank of India, a senior executive of the gold loan company said today.
George M Alexander, senior vice president of Muthoot also said they expect some
decision on the licence issue by the end of February from the RBI and
accordingly the company will approach SEBI
for necessary approvals.
"We have time till May 2014 (on promoters' stake dilution). Maybe in the
next two to three months, we will be deciding what needs to be done. We would
like to hear what RBI says for our banking
licences.
"Only then we would like to do the stake sale. If we get banking licence,
then we need to bring in more share capital," Alexander told reporters
here.
"We will request the SEBI that RBI is yet to come out with the licences
issue. We might ask SEBI to give more time in case there is a delay from RBI on
licence issue," he added.
Currently, promoters of Muthoot Finance hold 80.12% stake in the company.
Replying to a query, he said the company is in advantageous position with
regard to setting up of white label ATMs.
According to him, for banks it works out to nearly Rs 1 lakh per month,
including real estate cost, security and cash loading for maintaining an ATM.
"We want to keep ATMs in our own branches. We are going to do the cash
loading ourselves. We are not going to have any external agency to do
that," he explained.
Muthoot Finance has a branch network of 4,200 spread across 21 states and four
union territories. Around 60% of this branch network is spread across Tier-II,
Tier-III and Tier-IV cities.
Muthoot Finance has also recently received in-principle approval from RBI to
set up White Label ATMs. The company has chalked out plans to set up 9,000 ATMs
in the next three years.
Muthoot Finance seeks RBI nod to launch pre-paid cards
April
30, 2014
MUMBAI: Gold financier Muthoot Finance, which has entered the white label ATM space, today said it has sought Reserve Bank's permission to pre-load a part of a gold loan in dedicated cards.
"We have written to the RBI to allow us to disburse money through cards under which an amount can be pre-loaded on them and withdrawn by the gold loan customer whenever needed," Muthoot Finance Chief Executive (ATM division) P E Mathai told PTI here.
Such a scheme will benefit both the company as well as borrowers, he said, adding interest charging can start after the withdrawal of the amount.
The money can be withdrawn at any ATM or among the 9,000 white label cash vending machines which Muthoot Group is targeting to put up in the next three years, he said.
Commercial banks already offer a similar scheme under their Kisan Credit Card programme for farmers.
Muthoot Finance has also requested the RBI to allow it to launch a special card to take care of remittances, under which a receiver could be able to make use of ATMs to withdraw transfered amounts, Mathai said.
Explaining the proposal, he said "anybody can send money into the card and it can be withdrawn by the beneficiary from an ATM," and added this will be applicable for both the domestic and international remittances.
Mathai claimed the banking regulator has given an "in-principle" approval for both the proposals, but is yet to formally communicate it to the company.
Meanwhile, the company today launched its 15th ATM - the first in the Mumbai metropolitan region - at Virar, a distant suburb.
Mathai said the ATMs, being put up at Muthoot Finance's own branches to start with, will be feasible only if around 70-80 transactions take place on a daily basis.
ATMs at non-branch locations will need to log at least 150 transactions a day to become feasible as cost of rentals and security get added at these sites, he said.
Muthoot Finance completes Institutional Placement Programme
May 05, 2014
KOCHI: Muthoot Finance Ltd, India's largest gold loan company, the flagship company of Muthoot Group, has successfully concluded its Institutional Placement Program (IPP) as per the Sebi guidelines to comply with the regulatory norms for minimum public shareholding of 25 per cent.
Under the IPP, the offer was made only to Qualified Institutional Buyers.
MFL had done an Initial Public Offering of its equity shares in April 2011 and listed the shares on Stock Exchanges on May 6, 2011. The public shareholding as on that date was 19.88 per cent and SEBI Guidelines stipulated that this should be increased to 25 per cent within 3 years from the date of listing.
Under IPP, the company offered fresh 25,351,062 equity shares of Rs 10 each.The Issue opened and closed on Apr 25 and was made under the book building route with a price band of Rs 155 to Rs 165 per equity share.
The Issue was oversubscribed 1.80 times at the upper end of the price band for a total bid amount of Rs 754.64 crores. The Company decided to allot shares at the upper end of the price band at Rs.165 per share.
Speaking on the occasion, M G George Muthoot, chairman of Muthoot Finance Ltd said the company was committed and focused on the growth of the gold loan business and would take all necessary steps for the sector's healthy growth.
George Alexander Muthoot, Managing Director, Muthoot Finance Ltd said the Company had complied with the Sebi Minimum Public Shareholding stipulation well before the May 5 deadline. With the regulatory environment on the sector turning positive, Muthoot would see active interest from domestic and international investors on the company, he said.
"The company could attract investments at a tight discount of 2.40 per cent to the opening market price of Rs 169 per share as on the date of opening of the issue. It shows increased level of confidence in the company after successfully going through the severe regulatory changes in the last two years."
Well known and diversified set of QIBs participated in the Issue, which saw participation from investors, including FIIs, sovereign funds, life insurance companies and large mutual funds both domestic and international.
ICICI Securities Ltd, Kotak Mahindra Capital Company Limited and Espirito Santo Securities India Private Limited were the Book Running Lead Managers to the Issue.
AZB & Partners, Bangalore were the Indian Legal Counsel and DLA Piper Singapore Pte. Ltd., Singapore were the International Legal Counsel.
Muthoot Finance to set up 100 white-label ATMs this quarter
May 19, 2014
CHENNAI: Gold finance company Muthoot has planned to set up 100 white-label ATMs across the country this quarter with the focus on rural and semi-urban areas.
The company today inaugurated its first ATM in Chennai, also the 29th in the country, Kerala-based Muthoot Finance said in a statement.
"With this launch, we have gone an extra mile by challenging ourselves to set up 9,000 WLAs (white-label ATMs) within three years with our aim to launch 100 ATMs in this quarter," Muthoot Group Director George M Jacob said.
A white-label ATM is similar to a normal bank ATM with facilities of cash withdrawal and balance enquiry but are owned and operated by non-banking companies.
Muthoot Finance has partnered with FIS Payment Solutions and Services India, which would act as technical partner for the project and Federal Bank Ltd as the sponsor Bank.
The Reserve Bank has permitted four non-bank entitites to establish white label ATMs in India. Tata Communications Payment Solutions Ltd, Prizm Payment Services, Muthoot Finance Ltd and Vakrangee Ltd for setting up the white label ATMs.
"Being the industry leader, Muthoot Finance will drive on its existing strength, including a strong presence in under-served rural and semi-urban markes for setting up WLAs (White Label ATMs) in various geographical locations,", they said in a statement.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.60.10 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
61 |
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.