MIRA INFORM REPORT
|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
KARVY FINANCIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Building No. 7, Office No. 762, 6th Floor, |
|
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|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.10.2001 |
|
|
|
|
Com. Reg. No.: |
11-227379 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1910.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67190MH2001PLC227379 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the business of leading against property, gold
and securities. |
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|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a subsidiary of “KARVY STOCK BROKING LIMITED”. It is a
well-established company having fine track record. The rating takes into consideration financial as well as managerial
support that company receives from its parent company supported by decent
capital base and healthy profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of strong holding support, 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.
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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow 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 |
ICRA |
|
Rating |
NCD Programme A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term debt A1+ (SO) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
December 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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Roshan Bhosale |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-67875300 |
|
Date : |
04.10.2014 |
LOCATIONS
|
Registered / Head Office : |
Building No. 7, Office No. 762, 6th Floor, Solitaire Park, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No. : |
91-22-67875300 |
|
Fax No. : |
91-22-67875334 |
|
E-Mail : |
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|
Website : |
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|
Group Office : |
46, Avenue 4, Street No.1, Banjara Hills, Hyderabad – 500034, Telangana, India |
|
Tel. No. : |
91-40-23311968 |
|
Fax No. : |
91-40-23312454 |
DIRECTORS
As on 13.05.2014
|
Name : |
Bhagwan Dass Narang |
|
Designation : |
Director |
|
Address : |
Flat No. 29, Dda Appts., Pocket-F, SFS Scheme, Sheikh Sarai, Phase-I,
New Delhi, 110017, India |
|
Date of Birth/Age : |
12.04.1946 |
|
Date of Appointment : |
31.10.2012 |
|
DIN No. : |
00038052 |
|
|
|
|
Name : |
Yugandhar Meka |
|
Designation : |
Director |
|
Address : |
Plot No 22, Nandagiri Hills, Road No 69, Jubilee Hills, Hyderabad -
500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.07.1951 |
|
Date of Appointment : |
22.03.2005 |
|
DIN No. : |
00012265 |
|
|
|
|
Name : |
Amit Saxena |
|
Designation : |
Whole-time director |
|
Address : |
Flat 401/402, 4th Flr, Vaibhav Bldg, Union Park, Pali Hill, Nr Blue
Restaurant, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1973 |
|
Date of Appointment : |
30.05.2012 |
|
DIN No. : |
05248652 |
|
|
|
|
Name : |
Sanjeev Sehrawat |
|
Designation : |
Director |
|
Address : |
1201, 12th Floor, Akruti Nova - A - Building, Saiwadi,, N S Phadke Road, Andheri (East), Mumbai - 400069, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1968 |
|
Date of Appointment : |
31.10.2012 |
|
DIN No. : |
02887484 |
|
|
|
|
Name : |
Mahesh Vijayagopal |
|
Designation : |
Director |
|
Address : |
Road No.7, Banjara Hills, 8-2-393/B/404,
Flat No.404, Mount Meru Apartments,, Hyderabad – 500034, Telangana,
India |
|
Date of Birth/Age : |
01.01.1965 |
|
Date of Appointment : |
17.07.2009 |
|
DIN No. : |
00800219 |
KEY EXECUTIVES
|
Name : |
Meenal Talesara |
|
Designation : |
Secretary |
|
Address : |
74, Kushal Pole, Near Bada Bazar, Udaipur - 313001, Rajasthan, India |
|
Date of Birth/Age : |
04.06.1987 |
|
Date of Appointment : |
1305.2014 |
|
PAN No.: |
AITPT2385C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.05.2014
|
Names of Shareholders (Equity Shareholders) |
No. of Shares |
|
Karvy Comtrsde Limited, India |
11000000 |
|
Karvy Stock Broking Limited, India |
26999994 |
|
Uma Maheshwara Reddy |
1 |
|
Comandur Parthasarathy |
1 |
|
Yugandhar Meka |
1 |
|
Shnasiva Ramakari Mulpuri |
1 |
|
Mahesh Vijayagopal |
1 |
|
Ramaswamy Janardhanan |
1 |
|
Karvy Holding Limited, India |
3000000 |
|
|
|
|
Total |
41000000 |
|
Names of Shareholders (Preference Shareholders) |
No. of Shares |
|
Karvy Holding Limited, India |
75000000 |
|
Karvy Realty (India) Limited, India |
75000000 |
|
|
|
|
Total |
150000000 |
As on 31.05.2014
|
Names of Allottee |
No. of Shares |
|
Karvy Realty (India) Limited, India |
5000000 |
|
|
|
|
Total |
5000000 |
As on 13.05.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of leading against property, gold and
securities. |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
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Bankers : |
Bank of Baroda, Mid Corporate Branch |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
BSRR and Company Chartered Accountants |
|
Address : |
Reliance Humsafar, IV Floor, Road No. 11, Banjara Hills, Hyderabad – 500034, Telangana, India |
|
PAN
No. : |
AAKFB1884H |
|
|
|
|
Holding Company : |
v
Karvy Stock Broking Limited |
|
|
|
|
Fellow subsidiary company : |
v Karvy Comtrade Limited v Karvy Insurance Broking Limited v Karvy Realty (India) Limited v Karvy Data Management Services Limited (KDMSL) v Karvy Investor Services Limited v Karvy Capital Limited v Karvy Holdings Limited |
|
|
|
|
Enterprises where KMP exercise
significant Influence : |
v Karvy Consultants Limited v Karvy Computershare Private Limited |
CAPITAL STRUCTURE
After 13.05.2014
Authorised Capital : Rs. 2050.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1510.000
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 Millions |
|
150000000 |
Preference Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2050.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41000000 |
Equity Shares |
Rs.10/- each |
Rs.410.000 Millions |
|
150000000 |
Preference Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1910.000
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 |
1910.000 |
1910.000 |
1160.000 |
|
(b) Reserves & Surplus |
1720.758 |
1646.272 |
1538.517 |
|
(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) |
3630.758 |
3556.272 |
2698.517 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7828.646 |
6823.622 |
4020.237 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
11.077 |
16.248 |
3.557 |
|
(d) long-term provisions |
40.003 |
23.180 |
11.382 |
|
Total Non-current Liabilities (3) |
7879.726 |
6863.050 |
4035.176 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3044.230 |
2908.180 |
2508.790 |
|
(b) Trade payables |
47.100 |
5.888 |
9.356 |
|
(c) Other current
liabilities |
3266.502 |
2413.344 |
603.517 |
|
(d) Short-term provisions |
21.640 |
39.535 |
18.117 |
|
Total Current Liabilities (4) |
6379.472 |
5366.947 |
3139.780 |
|
|
|
|
|
|
TOTAL |
17889.956 |
15786.269 |
9873.473 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
61.236 |
60.718 |
37.035 |
|
(ii) Intangible Assets |
27.015 |
31.333 |
48.283 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
1.462 |
4.926 |
4.927 |
|
(b) Non-current Investments |
66.043 |
75.908 |
75.908 |
|
(c) Deferred tax assets (net) |
13.827 |
9.024 |
0.914 |
|
(d) Long-term Loan and Advances |
12508.328 |
7247.374 |
3957.519 |
|
(e) Other Non-current assets |
1.021 |
0.000 |
0.000 |
|
Total Non-Current Assets |
12678.932 |
7429.283 |
4124.586 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
9.865 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
31.033 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
197.693 |
22.359 |
68.135 |
|
(e) Short-term loans and
advances |
4398.265 |
7721.603 |
5415.814 |
|
(f) Other current assets |
605.201 |
613.024 |
233.905 |
|
Total Current Assets |
5211.024 |
8356.986 |
5748.887 |
|
|
|
|
|
|
TOTAL |
17889.956 |
15786.269 |
9873.473 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2940.186 |
2412.829 |
1380.821 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
2940.186 |
2412.829 |
1380.821 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
170.660 |
153.326 |
60.968 |
|
|
|
Employees benefits expense |
324.700 |
283.320 |
172.927 |
|
|
|
Other expenses |
238.769 |
207.663 |
98.016 |
|
|
|
TOTAL |
734.129 |
644.309 |
331.911 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2206.057 |
1768.520 |
1048.910 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1629.589 |
1229.568 |
643.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
576.468 |
538.952 |
405.299 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
24.702 |
22.914 |
14.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
551.766 |
516.038 |
391.208 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
188.302 |
169.733 |
124.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
363.464 |
346.305 |
267.147 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.16 |
6.07 |
7.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
12.36 |
14.35 |
19.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.77 |
21.39 |
28.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.10 |
3.29 |
4.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.15 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.99 |
2.74 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82 |
1.56 |
1.83 |
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 |
1160.000 |
1910.000 |
1910.000 |
|
Reserves & Surplus |
1538.517 |
1646.272 |
1720.758 |
|
Net worth |
2698.517 |
3556.272 |
3630.758 |
|
|
|
|
|
|
long-term borrowings |
4020.237 |
6823.622 |
7828.646 |
|
Short term borrowings |
2508.790 |
2908.180 |
3044.230 |
|
Total borrowings |
6529.027 |
9731.802 |
10872.876 |
|
Debt/Equity ratio |
2.419 |
2.737 |
2.995 |
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) |
|
Revenue from operations |
1380.821 |
2412.829 |
2940.186 |
|
|
|
74.739 |
21.856 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
1380.821 |
2412.829 |
2940.186 |
|
Profit |
267.147 |
346.305 |
363.464 |
|
|
19.35% |
14.35% |
12.36% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
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 |
NOTE:
The registered address of the company has been shifted from 46, ST No.
Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India to the present address
w.e.f 17.11.2011
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 25.06.2014 |
|
Lodging No.:- ARBPL/1001/2014 Filing Date:- 25.06.2014 |
|
Petitioner: BIRLA POWER SOLUTIONS LIMITED AND ANR Respondent: KARVY FINANCIAL
SERVICES LIMITED Petn. Adv : CHITNIS AND COMPANY (I6358) District: MUMBAI |
|
Bench: SINGLE Status: Pre-Admission
Category: ARBITRATION ACT.
Last Date: 23.09.2014 Stage: FOR REJECTION (ORIGINAL SIDE MATTERS) Last Coram: REGISTRAR(OS)/PROTHONOTARY
AND SR. MASTER |
|
Act: Arbitration and Conciliation Act 1996 UNDER SECTION: 34 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Banks |
498.000 |
0.000 |
|
From Other Party |
385.052 |
250.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
From Others |
|
|
|
Working capital demand loan |
157.711 |
282.494 |
|
Commercial papers |
1500.000 |
1100.000 |
|
Inter corporate
deposit |
|
|
|
From related parties |
59.200 |
154.200 |
|
From others |
570.000 |
0.000 |
|
|
|
|
|
Total |
3169.963 |
1786.694 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10521439 |
18/09/2014 |
500,000,000.00 |
State Bank of Hyderabad |
1204, Ashok Mahal, Tulloch Road, Colaba,
Mumbai, |
C21973599 |
|
2 |
10518728 |
27/08/2014 |
250,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
Fort Mumbai Branch, Bharat House, 104, B S Marg, Fort,
Mumbai, Maharashtra - 400001, INDIA |
C19704386 |
|
3 |
10510290 |
10/07/2014 |
500,000,000.00 |
IDBI Bank Limited |
224-A, MITTAL COURT, A-WING, 2ND FLOOR,
NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
C12259230 |
|
4 |
10493194 |
28/03/2014 |
300,000,000.00 |
Kotak Mahindra Bank Limited |
Kotak Mahindra Bank Limited, Capitale, 11th
Floor, 555, Annasalai, Teynampet, Chennai, Tamil Nadu - 600018, INDIA |
C03423936 |
|
5 |
10502671 |
27/03/2014 |
500,000,000.00 |
DENA BANK |
C-10, G- Block, Bandra Kurla Complex,
Bandra- East, Mumbai, Maharashtra - 400051, INDIA |
C06468144 |
|
6 |
10495000 |
15/03/2014 |
1,000,000,000.00 |
Canara Bank |
PRIME CORPORATE BRANCH, TRS Complex, S P
Road, Secunderabad, Andhra Pradesh - 500003, INDIA |
C03553880 |
|
7 |
10480762 |
06/01/2014 |
500,000,000.00 |
BANK OF BARODA |
MID CORPORATE BRANCH, 3-6-262/6,TIRUMALA
ESTATES, 3RD FLOOR,HIMAYAT NAGAR, HYDERABAD, Andhra Pradesh - 500029, INDIA |
B97666077 |
|
8 |
10445276 |
23/07/2013 |
1,500,000,000.00 |
BANK OF INDIA LIMITED |
Mumbai Large Corporate Branch, Oriental
Building, |
B82933466 |
|
9 |
10437191 |
28/06/2013 |
250,000,000.00 |
State Bank of Mauritius |
101, Raheja Centre, Free Press Journal
Road, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B79605903 |
|
10 |
10436969 |
21/06/2013 |
500,000,000.00 |
Bank of Maharashtra |
Fort Branch, Advance Department, 1st Floor,
Janma |
B79604534 |
|
11 |
10410516 |
14/02/2013 |
250,000,000.00 |
VIJAYA BANK |
INDUSTRIAL FINANCE BRANCH, NEW EXCELSIOR
BUILDING, 2ND FLOOR, FORT MUMBAI, MUMBAI, Maharashtra - 400001, INDIA |
B70175534 |
|
12 |
10410052 |
13/02/2013 |
500,000,000.00 |
The Jammu and Kashmir Bank Limited |
15/24, Samarth Vaibhav, Off New Link Raod,
Oshiwara, Andheri (West), Mumbai, Maharashtra - 400053, |
B70067194 |
|
13 |
10403267 |
24/01/2013 |
500,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
Corporate Finance Branch, Chander Mukhi,
Ground |
B68224286 |
|
14 |
10393324 |
07/12/2012 |
500,000,000.00 |
State Bank of Hyderabad |
1204, Ashok Mahal, Tulloch Road, Colaba,
Mumbai, |
B64655194 |
|
15 |
10386175 |
01/11/2012 |
500,000,000.00 |
CORPORATION BANK |
Corporate Banking Branch, 104 Bharat House,
B.S. Marg, Mumbai - 400 023., Mumbai, Maharashtra - 40 0023, INDIA |
B61987533 |
|
16 |
10374981 |
16/08/2012 |
300,000,000.00 |
Andhra Bank |
16th Floor, Earnest House, NCPA Marg,,
Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B57469538 |
|
17 |
10370016 |
14/08/2012 |
1,500,000,000.00 |
State Bank of India |
Corporate Accounts Group - Mumbai, Neville
House, |
B45489838 |
|
18 |
10367861 |
06/07/2012 |
500,000,000.00 |
IDBI Bank Limited |
224-A, MITTAL COURT, A-WING, 2ND FLOOR,
NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B44627768 |
|
19 |
10341825 |
14/03/2012 |
250,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
Fort Branch, Bharat House, 104, B S Marg, Fort,
Mumbai, Maharashtra - 400001, INDIA |
B34879577 |
|
20 |
10337730 |
28/12/2011 |
1,000,000,000.00 |
ORIENTAL BANK OF COMMERCE |
181 -A, Maker Tower 'E' 18th Floor, Cuffe
Parade, |
B33039330 |
|
21 |
10313072 |
27/09/2011 |
500,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
CENTRAL LOAN PROCESSING CELL, PNO. 1414,
KAMANWALA CHAMBERS, SIR P M ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B23510837 |
|
22 |
10313242 |
10/07/2014 * |
1,700,000,000.00 |
Indian Overseas Bank |
Mid Corporate Branch, 8-2-120/117/S-1, 1st
Floor, |
C11808284 |
|
23 |
10295085 |
15/06/2011 |
500,000,000.00 |
IDBI Bank Limited |
224-A, MITTAL COURT, A-WING, 2ND FLOOR,
NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B16153082 |
|
24 |
10250449 |
22/11/2011 * |
1,000,000,000.00 |
Axis Bank Limited |
Fort Branch, Jeevan Prakash Building, Sir P
M Road, Fort, Mumbai, Maharashtra - 400004, INDIA |
B25991274 |
|
25 |
10244490 |
27/06/2014 * |
748,200,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
C09028622 |
* Date of charge modification
REVIEW OF OPERATIONS:
The Company has been constantly focused on improving its revenue and maintaining a sustainable growth. This is evident from the financial performance of the Company during the year. The directors are pleased to inform you that, the company was able to counter this slowdown and manage the product mix strategically which helped the Company to grow at a healthy level during the year. The Company registered a growth in revenues of 22% resulting in an increase of 5% in the profit after tax. The directors are pleased to report that, for the year, the company's income stood at Rs. 2940.186 millions, with a profit after tax of Rs. 363.464 millions, as compared to an income of Rs. 2412.829 millions and a profit after tax of Rs. 346.305 millions in the previous year.
During the year, the company continued to add new products while extending its foot prints to new geographical areas. The Company's product range continues to be well diversified, and includes secured business loans, securities finance, commodities finance, and gold loans. The directors are of the opinion that despite challenges ahead, the company would continue to grow well in future.
OUTLOOK AND
INITIATIVE:
The general economic conditions across the globe faced multiple challenges during 2013-2014. However, the directors are confident of another good year of performance for the company. For FY 2014-15, the strategy of the company will be to firmly establish and grow the business lines viz. securities finance, commodities finance, secured business loans, micro enterprise secured business loan, small commercial vehicle and loan against gold. The directors see high potential and opportunity in the market place and are confident of taking all the businesses to a higher level. The company plans to raise more capital in tune with the growth plans of the company.
FIXED ASSETS
œ Computer and related assets
œ Furniture and Fixture
œ Office Equipment
œ Software Development
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.