MIRA
INFORM REPORT
|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ICICI HOME FINANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.05.1999 |
|
|
|
|
Com. Reg. No.: |
11-120106 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10987.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65922MH1999PLC120106 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI04738G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Loans For Purchase, Construction, Repairs and Renovation
etc., of Houses / Flats to Individuals, Corporate Bodies, Builders and
Co-operative Housing Societies. |
|
|
|
|
No. of Employees
: |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 58580000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of ICICI Bank. It is a
well-established company having fine track. Liquidity of the company appears
to be strong and healthy. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitment. The company can be considered for good business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AAA [Long Term Bonds Programme] |
|
Rating Explanation |
Highest degree of safety and lowest credit risk. |
|
Date |
November 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1+ [Short Term Debt Programme] |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
November 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management non co-operative [91-22-26531414/ 26537482]
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-26531414 |
|
Fax No.: |
91-22-26531215/ 26531671 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 24.05.2013
|
Name : |
Mr. Rohit Manmohan Salhotra |
|
Designation : |
Managing director |
|
Address : |
703-C, Lokhandwala Residency, E Moses Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
18.07.1966 |
|
Date of Appointment : |
22.05.2012 |
|
DIN No.: |
03580929 |
|
|
|
|
Name : |
Mr. Jayesh Manhar Gandhi |
|
Designation : |
Director |
|
Address : |
A/4, Mewawala Apartment, 53-D St. Mary Road, Vile Parle West, Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
09.01.1962 |
|
Date of Appointment : |
18.11.2006 |
|
DIN No.: |
00221855 |
|
|
|
|
Name : |
Mr. Subramaniam Santhanakrishnan |
|
Designation : |
Director |
|
Address : |
Flat G5, Block 2, Prime Terrace 150, |
|
Date of Birth/Age : |
08.11.1944 |
|
Date of Appointment : |
24.07.2008 |
|
DIN No.: |
00005069 |
|
|
|
|
Name : |
Mr. Dileep Chinubhai Choksi |
|
Designation : |
Director |
|
Address : |
E-7, Sea Face Park, 50, Bhulabhai Desai Road, Mumbai - 400026,
Maharashtra, India |
|
Date of Birth/Age : |
26.12.1949 |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00016322 |
|
|
|
|
Name : |
Mr. Rajiv Sabharwal |
|
Designation : |
Nominee director |
|
Address : |
Y-1301, 13th Floor, Callalily Nahar’s Amrit Shakti Off Saki
Vihar Road, Chandivali, Andheri East, Mumbai
- 400072, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
00057333 |
|
|
|
|
Name : |
Mr. Maninder Singh Juneja |
|
Designation : |
Nominee director |
|
Address : |
D - 1002, Mayfair Meridian Ceasar Road, Amboli, Andheri (West),
Mumbai-400058, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1966 |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
02680016 |
KEY EXECUTIVES
|
Name : |
Mr. Pratap S. Salian |
|
Designation : |
Secretary |
|
Address : |
19/102, Sanskriti 90 Feet Road, Asha Nagar, Kandivli (East), Mumbai -
400101, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
11.04.2011 |
|
PAN No.: |
AQUPS7901E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.05.2013
|
Names of Shareholders |
|
No. of Shares |
|
ICICI Bank Limited, |
|
1098748900 |
|
ICICI Securities Limited, |
|
500 |
|
ICICI Bank Limited, |
|
100 |
|
ICICI Lombard General Insurance Company Limited, |
|
100 |
|
ICICI Investments Management Company Limited, |
|
100 |
|
ICICI Trusteeship Services Limited, |
|
100 |
|
ICICI Venture Funds Management Company Limited, |
|
100 |
|
ICICI Securities Primary Dealership Limited, |
|
100 |
|
ICICI Securities Limited, |
|
100 |
|
|
|
|
|
TOTAL
|
|
1098750100 |
AS ON 24.05.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Nationalized
or other banks |
|
99.99 |
|
Bodies
corporate |
|
0.01 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Loans For Purchase, Construction, Repairs and Renovation
etc., of Houses / Flats to Individuals, Corporate Bodies, Builders and Co-operative
Housing Societies. |
GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management |
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Bankers : |
ICICI Bank Limited, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountant |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(East), Mumbai-400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
PAN No: |
ACHFS9180N |
|
|
|
|
Holding Company : |
ICICI Bank Limited CIN No.:
L65190GJ1994PLC021012 |
|
|
|
|
Fellow Subsidiaries / Fellow Entity : |
·
ICICI Securities Limited ·
ICICI Securities Primary Dealership Limited ·
ICICI Prudential Life Insurance Company Limited ·
ICICI Lombard General Insurance Company Limited ·
ICICI Securities Inc. ·
ICICI Securities Holdings Inc. ·
ICICI Venture Funds Management Company Limited ·
ICICI Trusteeship Services Limited ·
ICICI Investment Management Company Limited ·
ICICI International Limited ·
ICICI Bank UK PLC ·
ICICI Bank Canada ·
ICICI Bank Eurasia LLC ·
ICICI Eco-net Internet and Technology Fund ·
ICICI Equity Fund ·
ICICI Emerging Sectors Fund ·
ICICI Strategic Investments Fund ·
ICICI Prudential Asset Management Company Limited ·
ICICI Prudential Trust Limited ·
TCW/ICICI Investment Partners Limited ·
ICICI Kinfra Limited ·
ICICI Prudential Pension Funds Management Company
Limited ·
ICICI Venture Value Fund (IVVF) ·
I-Ven Biotech Limited ·
ICICI Foundation For Inclusive Growth ·
India Infra Debt Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2385000000 |
Equity Shares |
Rs.10/- each |
Rs.23850.000 Millions |
|
15000000 |
Preferences Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
TOTAL
|
|
Rs.24000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1098750000 |
Equity Shares |
Rs.10/- each
|
Rs.10987.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10987.500 |
10987.500 |
10987.500 |
|
(b) Reserves & Surplus |
3658.300 |
3097.700 |
2416.700 |
|
(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) |
14645.800 |
14085.200 |
13404.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38714.400 |
38485.900 |
51784.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
307.900 |
264.900 |
350.800 |
|
(d) long-term provisions |
1441.700 |
1460.900 |
1181.100 |
|
Total Non-current Liabilities (3) |
40464.000 |
40211.700 |
53316.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1950.900 |
2032.200 |
1724.200 |
|
(b) Trade payables |
181.100 |
192.300 |
120.100 |
|
(c) Other current
liabilities |
14526.900 |
17536.800 |
23237.100 |
|
(d) Short-term provisions |
256.200 |
218.400 |
227.700 |
|
Total Current Liabilities (4) |
16915.100 |
19979.700 |
25309.100 |
|
|
|
|
|
|
TOTAL |
72024.900 |
74276.600 |
92029.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
599.900 |
35.700 |
42.900 |
|
(ii) Intangible Assets |
6.000 |
10.100 |
10.700 |
|
(iii) Capital
work-in-progress |
1.100 |
0.800 |
0.400 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
1.100 |
|
(b) Non-current Investments |
2332.300 |
3541.000 |
3508.300 |
|
(c) Deferred tax assets (net) |
472.900 |
469.500 |
398.700 |
|
(d) Long-term Loan and Advances |
59658.000 |
61577.800 |
75260.400 |
|
(e) Other Non-current assets |
16.200 |
15.600 |
264.100 |
|
Total Non-Current Assets |
63086.400 |
65650.500 |
79486.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
736.700 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
138.000 |
80.600 |
46.900 |
|
(d) Cash and cash
equivalents |
1338.200 |
2042.200 |
1924.100 |
|
(e) Short-term loans and
advances |
6099.200 |
5140.800 |
8913.300 |
|
(f) Other current assets |
626.400 |
1362.500 |
1659.000 |
|
Total Current Assets |
8938.500 |
8626.100 |
12543.300 |
|
|
|
|
|
|
TOTAL |
72024.900 |
74276.600 |
92029.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9193.000 |
10609.800 |
12366.900 |
|
|
|
Other Income |
108.000 |
100.100 |
96.900 |
|
|
|
TOTAL (A) |
9301.000 |
10709.900 |
12463.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
310.400 |
236.700 |
309.500 |
|
|
|
Establishment and Other Expenses |
633.100 |
830.400 |
747.300 |
|
|
|
Expenses Recovered |
(16.900) |
(39.300) |
(181.400) |
|
|
|
TOTAL (B) |
926.600 |
1027.800 |
875.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8374.400 |
9682.100 |
11588.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
5326.600 |
6141.000 |
8284.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3047.800 |
3541.100 |
3304.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
19.100 |
9.700 |
10.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
3028.700 |
3531.400 |
3293.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
826.500 |
934.900 |
960.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2202.200 |
2596.500 |
2332.900 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.00 |
2.38 |
2.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
23.67
|
24.24 |
18.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
32.95
|
33.28 |
26.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.37
|
5.02 |
3.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.77
|
2.87 |
3.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.53
|
0.43 |
0.50 |
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 |
10987.500 |
10987.500 |
10987.500 |
|
Reserves & Surplus |
2416.700 |
3097.700 |
3658.300 |
|
Net worth |
13404.200 |
14085.200 |
14645.800 |
|
|
|
|
|
|
long-term borrowings |
51784.700 |
38485.900 |
38714.400 |
|
Short term borrowings |
1724.200 |
2032.200 |
1950.900 |
|
Total borrowings |
53508.900 |
40518.100 |
40665.300 |
|
Debt/Equity ratio |
3.992 |
2.877 |
2.777 |
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 |
12366.900 |
10609.800 |
9193.000 |
|
|
|
(14.208) |
(13.354) |
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 |
12366.900 |
10609.800 |
9193.000 |
|
Profit |
2332.900 |
2596.500 |
2202.200 |
|
|
18.86% |
24.47% |
23.96% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
|
|
|
|
|
|
Current Maturities of Long Term Debt |
|
|
|
|
Secured |
2000.000 |
0.000 |
NA |
|
Unsecured |
10766.600 |
15424.700 |
NA |
|
TOTAL |
12766.600 |
15424.700 |
NA |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
CASE DETAILS BENCH: BOMBAY LODGING NO.: ITXAL/800/2013
FILING DATE: 29/05/2013 REG. NO.: ITXA/2002/2013
REG. DATE: 17/10/2013
|
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10207534 |
21/01/2010 |
4,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG,, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA,
INDIA |
A79415154 |
|
2 |
10159224 |
20/05/2009 |
3,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG,, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA,
INDIA |
A62831706 |
|
3 |
10142556 |
05/12/2008 |
1,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG,, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA,
INDIA |
A52652872 |
|
4 |
10129372 |
10/10/2008 |
2,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG,, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA,
INDIA |
A49496052 |
|
5 |
10063486 |
10/08/2009 * |
3,116,900,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG,, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA,
INDIA |
A67710525 |
|
* Date of charge modification |
||||||
CORPORATE
INFORMATION:
ICICI Home Finance Company
Limited (the company) is a public company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The Company is engaged in the
providing financial assistance for specified interest and maturity to person/
persons for the purpose to acquire, construct, erect, improve, extend, alter,
repair, renovate, develop any house, flats or buildings or any form of real
estate or any part or portion-thereof. The Company is also providing financial
assistance to any person for specified purpose against the security of any
immovable property. The Company is engaged in providing advisory, consultancy,
broking in property service, sourcing and servicing home loans.
MARKET OVERVIEW:
The mortgage market
in India continues to grow, especially as cities beyond the Tier I and II
cities expand with a steady demand in residential segment. The residential
segment in Tier Ill and IV markets also have been attractive in the last few
months with stable prices and have witnessed a pickup in project launches and
construction activity. Absorption and supply in most markets is balanced,
providing grounds for stable prices. Their company continues to focus on
emerging markets, which provide a new growth opportunity.
The office market
segment has seen some slowdown, largely due to lower economic growth and higher
supply relative to the absorption in the commercial cities. Developers have
deferred their construction schedules to temper the supply to this segment and
pricing has been flexible to increase off take. With the entry of global
retailers to India, the retail real estate market is expected to witness growth
during the coming years.
OPERATIONAL REVIEW
They have grown
their mortgages footprint to now cover the upcoming markets. They have already
attained significant market share in some of these key locations. The portfolio
has been closely tracked to ensure they maintain good quality since the overall
book has been declining. Revenues of their Real Estate advisory business have
also grown. The Mortgage Valuations group expanded its footprint to cover the
requirement of their Mortgages Business and also for ICICI Bank. Technology
arid automation have been a key focus to achieve better productivity and service
levels to their customers. The Company continues to stay committed and focused
on partnering the developers at all stages of the Real Estate Value chain.
FIXED ASSETS:
·
Office Building
·
Leasehold Property
·
Computer
·
Office Equipment
·
Furniture
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
69 |
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 |
-- |