MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
MOTILAL OSWAL SECURITIES LIMITED (w.e.f. 30.11.2000) |
|
|
|
|
Formerly Known
As : |
DEO SECURITIES PRIVATE LIMITED |
|
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|
Registered
Office : |
Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite
Parel ST Depot, Prabhadevi, Mumbai – 400025, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.07.1994 |
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Com. Reg. No.: |
11-079418 |
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Capital
Investment / Paid-up Capital : |
Rs.13.190 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1994PLC079418 |
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|
|
PAN No.: [Permanent Account No.] |
AAACD3654Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in brokerage related activity. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 one of India’s leading providers of capital market related services.
It offers a number of services such as retails and institutional broking,
wealth management, loan against shares, margin financing, commodities
broking, investment banking and provide equity management. It is
well-established and reputed company having fine track record. Profitability of the company has declined during financial year 2014. However, the rating takes into consideration company’s strong market
position in both the retails and institutional broking segments and ranks
among top five equity brokers in India supported by heathy financial risk
profile and adequate liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view established brand name back by experienced management team,
the company can be considered good for normal business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go slowly
on talks over coal supply contracts, uncertainty over cancellation of blocks
weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to sack
another 300 employees. The lay-offs follow a spate of senior-level exits over
the past two years, starting with of its founder. The overall lay-offs could
number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Billion Commercial Paper Programme = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
10.07.2014 |
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 (Tel No.: 91-22-39825500)
LOCATIONS
|
Registered Office : |
Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel
ST Depot, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-39804200 |
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Fax No.: |
91-22-30896842 |
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E-Mail : |
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Website : |
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Branch Office : |
Located At :
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DIRECTORS
As on 07.08.2014
|
Name : |
Mr. Balkumar Kapurchand Agarwal
|
|
Designation : |
Director |
|
Address : |
Flat No. 81, Praneet, J. Palkar Marg, Worli, Mumbai - 400030,
Maharashtra, India |
|
Date of Birth/Age : |
23.08.1942 |
|
Date of Appointment : |
30.04.2011 |
|
DIN No.: |
00001085 |
|
|
|
|
Name : |
Mr. Ajaykumar Sreedhara Menon |
|
Designation : |
Whole Time Director |
|
Address : |
B-404 Uranus, Vasant Galaxy, Bangur Nagar, Goregaon (West), Mumbai -
400090, Mumbai - 400090, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1974 |
|
Date of Appointment : |
02.04.2004 |
|
DIN No.: |
00024589 |
|
|
|
|
Name : |
Mr. Harsh Kanaiyalal Joshi |
|
Designation : |
Whole Time Director |
|
Address : |
Geeta Bhavan, C - Building, Ground Floor, Warden Road, Mumbai -
400036, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1970 |
|
Date of Appointment : |
20.10.2010 |
|
DIN No.: |
02951058 |
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|
|
|
Name : |
Mr. Sudhir Dhar |
|
Designation : |
Additional Director |
|
Address : |
Building No.15, Wing 'B', Flat No. B-502, Bhakti Park, Next To Imax Theatre,
Wadala (East), Mumbai - 400037, Maharashtra, India |
|
Date of Appointment : |
20.10.2010 |
|
DIN No.: |
06911441 |
MAJOR SHAREHOLDERS
As on 07.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Raamdeo Agarwal |
|
100 |
|
Motilal Oswal |
|
100 |
|
Vimla Oswal |
|
100 |
|
Suneeta Agrawal |
|
100 |
|
Navin Agarwal |
|
100 |
|
Pratiksha Oswal |
|
100 |
|
Ajaykumar Sreedhara Menon |
|
12 |
|
Motilal Oswal Financial Services Limited, India |
|
1318218 |
|
Total |
|
1318830 |
Equity Share Break up (Percentage of Total Equity)
As on 07.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
99.95 |
|
Directors or relatives of Directors |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in brokerage related activity. |
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Products / Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
701, Leela Business, Park, Andheri-Kurla Road, Andheri (East), Mumbai-400059, Maharashtra, India |
|
PAN No.: |
AAAFH2010F |
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|
|
|
Holding Company : |
Motilal Oswal Financial Services Limited CIN No.: L67190MH2005PLC153397 |
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Ultimate Holding
Company : |
Passionate Investment Management Private Limited CIN No.: U67120MH1995PTC092014 |
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Subsidiary
Companies : |
CIN No.: U67110MH2002PLC135075
CIN No.: U74140MH2006PTC165469
CIN No.: U67120MH2008PLC188186
CIN No.: U93090MH2008PLC188187
CIN No.: U65929MH2011PTC219141
CIN No.: U65923MH2013PLC248741 |
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Fellow Subsidiaries
: |
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CAPITAL STRUCTURE
As on 07.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 Millions |
|
6500000 |
Preference Shares |
Rs.10/- each |
Rs.65.000 Millions |
|
|
Total |
|
Rs.120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1318830 |
Equity Shares |
Rs.10/- each |
Rs.13.190 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
13.190 |
13.190 |
13.190 |
|
(b) Reserves & Surplus |
6,437.400 |
6,587.130 |
6,103.570 |
|
(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) |
6,450.590 |
6,600.320 |
6,116.760 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
153.010 |
185.260 |
34.780 |
|
(c) Other long term
liabilities |
3.740 |
0.000 |
0.000 |
|
(d) long-term
provisions |
31.170 |
34.280 |
39.210 |
|
Total Non-current
Liabilities (3) |
187.920 |
219.540 |
73.990 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.810 |
0.000 |
0.000 |
|
(b) Trade
payables |
3,398.530 |
2,540.660 |
2,452.260 |
|
(c) Other
current liabilities |
170.830 |
405.050 |
214.800 |
|
(d) Short-term
provisions |
283.720 |
282.830 |
245.100 |
|
Total Current
Liabilities (4) |
3,853.890 |
3,228.540 |
2,912.160 |
|
|
|
|
|
|
TOTAL |
10,492.400 |
10,048.400 |
9,102.910 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1,349.100 |
1,449.790 |
1,647.870 |
|
(ii)
Intangible Assets |
48.710 |
51.970 |
76.670 |
|
(iii)
Capital work-in-progress |
-0.010 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2,260.390 |
1,123.270 |
746.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
163.350 |
142.850 |
136.040 |
|
(e) Other
Non-current assets |
16.620 |
0.610 |
31.260 |
|
Total Non-Current
Assets |
3,838.160 |
2,768.490 |
2,638.440 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
704.380 |
255.070 |
0.000 |
|
(b) Inventories |
606.270 |
1,385.700 |
1,573.840 |
|
(c) Trade
receivables |
2,374.010 |
1,946.410 |
1,850.270 |
|
(d) Cash
and cash equivalents |
978.060 |
1,628.780 |
2,137.130 |
|
(e)
Short-term loans and advances |
1,827.360 |
1,722.260 |
129.880 |
|
(f) Other
current assets |
164.160 |
341.690 |
773.350 |
|
Total
Current Assets |
6,654.240 |
7,279.910 |
6,464.470 |
|
|
|
|
|
|
TOTAL |
10,492.400 |
10,048.400 |
9,102.910 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2,969.780 |
3,185.700 |
3,555.630 |
|
|
|
|
Other Income |
247.920 |
183.140 |
76.350 |
|
|
|
|
TOTAL (A) |
3,217.700 |
3,368.840 |
3,631.980 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Employee Benefits Expenses |
761.450 |
710.970 |
847.960 |
|
|
|
|
Other Expenses |
1,554.620 |
1,582.200 |
1,602.250 |
|
|
|
|
Exceptional Items |
497.000 |
(344.570) |
(129.870) |
|
|
|
|
TOTAL (B) |
2,813.070 |
1,948.600 |
2,320.340 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
404.630 |
1,420.240 |
1,311.640 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
21.660 |
28.810 |
35.630 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
382.970 |
1,391.430 |
1,276.010 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
143.150 |
160.290 |
114.910 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
239.820 |
1,231.140 |
1,161.100 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
69.040 |
410.370 |
345.890 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
170.780 |
820.770 |
815.210 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6,321.310 |
5,919.830 |
5,439.060 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed dividend |
138.480 |
145.070 |
72.540 |
|
|
|
|
Interim Dividend |
134.530 |
145.070 |
145.070 |
|
|
|
|
Dividend Distribution Tax |
47.520 |
47.070 |
35.310 |
|
|
|
|
Transfer to General Reserve |
17.080 |
82.080 |
81.520 |
|
|
|
BALANCE CARRIED
TO THE B/S |
6,154.480 |
6,321.310 |
5,919.830 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
||
|
|
|
Earnings on royalty |
0.480 |
0.440 |
0.460 |
|
|
|
|
Earnings on professional and consultation fees |
112.980 |
104.930 |
108.350 |
|
|
|
TOTAL EARNINGS |
113.460 |
105.370 |
108.810 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Capital Goods |
0.000 |
0.000 |
32.170 |
|
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
32.170 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
170.78 |
820.77 |
815.21 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.75 |
25.76 |
22.93 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.62 |
44.58 |
36.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.91 |
13.79 |
13.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.19 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
2.25 |
2.22 |
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 |
13.190 |
13.190 |
13.190 |
|
Reserves & Surplus |
6103.570 |
6587.130 |
6437.400 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6116.760 |
6600.320 |
6450.590 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.810 |
|
Total
borrowings |
0.000 |
0.000 |
0.810 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
3,555.630 |
3,185.700 |
2,969.780 |
|
|
|
(10.404) |
(6.778) |
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
|
3,555.630 |
3,185.700 |
2,969.780 |
|
Profit |
815.210 |
820.770 |
170.780 |
|
|
22.93% |
25.76% |
5.75% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
Case Details |
||||||||||
|
Bench:- Bombay |
||||||||||
|
Lodging No.:- |
RPAL/151/2010 |
Filing Date:- |
08/11/2010 |
Reg. No.:- |
RPA/42/2010 |
Reg. Date:- |
19/11/2010 |
|||
|
Main Matter |
||||||||||
|
Lodging No.:- |
ITXAL/242/2010 |
Reg No.:- |
ITXA/1531/2010 |
|||||||
|
|
||||||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX – CENTRAL - II |
Respondent:- |
MOTILAL OSWAL SECURITIES LIMITED |
|||||||
|
Petn.Adv:- |
A R Malhotra (I3164) |
Resp. Adv.: |
0 (0) |
|||||||
|
District:- |
MUMBAI |
|||||||||
|
Bench:- |
DIVISION |
|||||||||
|
Status:- |
Pre-Admission |
Category:- |
REVIEW(APPEAL) |
|||||||
|
Last Date:- |
24/03/2011 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|||||||
|
Last Date:- |
06/01/2014 |
|||||||||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|||||||||
REVIEW OF
OPERATIONS AND FUTURE OUTLOOK
During the year, Motilal Oswal Securities Limited (MOSL) recorded total revenues of Rs.3,217.690 million, a decline of 4.49% from the previous year.
- Broking and related revenues declined by 3.38% to Rs.2,503790 million this year. Daily volumes in the equity markets reached Rs 2.0 trillion in FY14, up 20.43% from last year. The uptick was almost entirely led by the options segment, yet again. Options increased 22.84% YoY, and comprised 77.38% of overall market volumes in FY14. Futures were up 18.1% YoY, and comprised 16.1% of market volumes, same as last year. Cash equities at Rs 132.680 billion in FY14 was just marginally up by 1.84% as compared to FY13. Within this, the high-yield delivery segment showed an uptick of 3.97%. The fact that cash equities volumes have held in the Rs 130-140 billion range since last three years possibly indicates that cash volumes might have bottomed out at last. Our overall equity market share increased marginally from 1.53% to 1.60% on a YoY basis. As on March 31, 2014, total client base has increased to 800,385 which includes 701,845 retail broking and distribution clients, while Pan-India distribution reach stood at 1,534 business locations across 507 cities.
- Income from arbitrage operations decreased by 35.14% to Rs.167.480 million
- PMS distribution fees increased by 30.38% to Rs.82.140 million.
- Other operating income registered a decrease of 20.78% to Rs.216.370 million.
- Other income increased by 35.37% to Rs.247.910 million due to higher interest income.
In terms of expense items, operating expenses fell by 2.62% to Rs.946.780 million, on account of lower brokerage sharing with intermediaries this year. Personnel costs increased by 7.10% to Rs.761.450 million. Administration and other expenses declined marginally by 0.34% to Rs.7.850 million. As a result, total expenditure (before depreciation, interest and exceptional item) increased marginally by 1% to Rs.2,316.080 million. Profit before interest, depreciation and exceptional items declined by 16.18% to Rs.901.610 million this year.
The company had exposure to National Spot Exchange Limited (NSEL). However, NSEL has not been able to adhere to its payment obligations, and the company has perused legal action against it. Pending final outcome which is uncertain, the company has provided for 496.99 million (pretax) in respect of these positions during the year, which is disclosed under Exceptional Items.
Reported net profit for the year is Rs.170.780 million, a decrease of 79.19% from the last financial year.
After a volatile year, the Indian Stock Markets delivered strong returns in March, 2014 as investor sentiments seem to be building up in light of the stability in certain macro indicators, as well as the evolving political scenario. The index was up 18.85% for the year, with maximum gains coming in September, October and March, coinciding with months of high FII net inflows. On a relative basis, India outperformed leading Emerging Markets and Asia-Pacific benchmarks during this fiscal in US$ terms. Sustenance of macro indicators at reasonable levels, along with a revival in the capex cycle and manufacturing segment following clarity on the political front should help improve overall sentiments and help increase activity levels in capital markets.
They believe that the long-term Indian growth story is intact. Backed by strong savings, it would present several growth opportunities for financial services. During the current year, they have made sustained investments in technology, people and infrastructure which they believe will lay the foundation for growth as market activity eventually picks up.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10503093 |
27/03/2014 |
4,500,000,000.00 |
HDFC |
HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai, Maharashtra - 400013, India |
C06692743 |
|
2 |
10368616 |
13/06/2012 |
700,000,000.00 |
ICICI BANK LIMITED |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B44936532 |
|
3 |
10294326 |
11/05/2011 |
500,000,000.00 |
HDFC Bank Limited |
Asaf Ali Road, , Delhi - 110001, India |
B15866981 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 re
seized, blocked, frozen or ordered forfeited for violation of money laundering
or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
60 |
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.