MIRA INFORM REPORT

 

 

Report Date :

17.09.2014

 

IDENTIFICATION DETAILS

 

Name :

YES BANK LIMITED

 

 

Registered Office :

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.11.2003

 

 

Com. Reg. No.:

11-143249

 

 

Capital Investment / Paid-up Capital :

Rs.3606.336 Millions

 

 

CIN No.:

[Company Identification No.]

L65190MH2003PLC143249

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMY01286F

 

 

Legal Form :

Public Limited Liability Bank. The Bank’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Banking Activities

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (68)

 

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

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a well-established and reputed private sector bank having fine track.

 

Financial position of the bank is sound. Fundamentals of the bank is healthy.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitments.

 

The Bank 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 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

Lower Tier II Debt Programme=AA

Rating Explanation

Have high degree of safety and carry very low credit risk.

Date

March, 2014

 

 

Rating Agency Name

ICRA

Rating

CD Programme=A1+

Rating Explanation

Have very strong degree of safety and carry lowest credit risk.

Date

March, 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 DECLINED

 

Management non-cooperative

 

(Tel. No.: 91-22-66699000)

 

 

LOCATIONS

 

Registered Office/ Corporate Headquarters :

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India

Tel. No.:

91-22-66699000

Fax No.:

91-22-24900314

E-Mail :

shareholders@yesbank.in

yestouch@yesbank.in

Website :

http://www.yesbank.in

 

 

Northern Regional Corporate Office :

48, Nyaya Marg, Chanakya Puri, New Delhi – 110 021, India

Tel. No.:

91-11-66569000

Fax No.:

91-11-51680144

 

 

Branch Network :

NORTH: Agra, Ajnala, Aligarh, Allahabad, Alipur, Alwar, Ambala Cantt, Amritsar, Anantnag, Anupshahr, Baddi, Badli, Badshahpur, Baghpat, Bahadurgarh, Banga, Banur, Bara Banki, Bareilly, Barnala, Bawal, Begowal, Behror, BhangRola, Bhatinda, Bhiwadi, Bilari, Bishanpura, Chandigarh (3), Cheeka, Damdama, Daula, Dasna, Dasuya, Dayalbagh, Debai, Dehradun, Derabassi, Dhampur, Dhand, Dharamsala, Dharuhera, Dhuri, Dundahera, Faridabad, Fatehabad, Firozabad, Firozpur, Gajraula, Ganaur, Garhi Harsaru, Ghaziabad(2), Gohana, Gorakhpur, Goraya, Greater Noida, Gulaothi, Gurgaon (6), Haileymandi, Hayatpur, Jalandhar, Jammu, Jandiala, Jaspur.Jhajjar.Jhansi, Jind, Kaithal, Kalka, Kangra, Kanpur, Kapurthala, Karnal, Karola, Kartarpur, Kasana, Kashipur, Katra, Khairthal, Khandewla, Khandsa, Kharar (2), Khekra, Kherla, Kisangarh, Kosi Kalan, Kunda, Kundli, Kurali, Lohian Khas, Lucknow, Ludhiana (2), Mahilpur, Manali, Mandi Gobindgarh, Manesar, Mathura, Meerut, Modinagar, Mohali, Moradabad, Morinda, Mukerian, Muktsar, Mussoorie, Nakodar, Nangal, Narnaul, Narwana, Nawada Fatehpur, Nawanshahr, Neemrana, New Delhi (44), Noida (2), Nurmahal, Panchkula, Panipat, Paonta Sahib, Pathankot, Patiala, Phullanwala, Pinjore, Rai, Rajpura, Ramnagar, Rayya, Rehtoj, Rishikesh, Rudrapur, Rupnagar (Ropar), Safidon, Saharanpur, Sahnewal, Samalkha, Sankhoi, Sardhana, Shakarpur, Shikarpur, Shimla, Shrinagar (Hathras), Siana, Sohana, Solan, Sonepat, Srinagar, Sultanpur Lodhi, Taoru, Tohana, Udhampur, Una, Urmar Tanda, Wazirabad, Yamuna Nagar, Zirakpur (2)

 

WEST: Abu Road, Adalaj, Ahmadnagar, Ahmedabad (5), Anand, Aurangabad, Balotra, Banswara, Bardoli, Barmer, Baroda, Bavla, Bharuch, Bhavnagar, Bhorwadi, Bhilwara, Bhinmal, Bhopal, Bilara, Bodakdev, Bodeli, Butibori, Calangute, Chakan, Chikhli, Chimbhali, Chiplun, Chrttaurgarh, Curchorem, Dahej, Daman, Deesa (M), Deogarh, Deoli, Dewas, Dwarka, Gandhinagar, Halol, Igatpuri, Indore, Itrasi, Jaipur (2),Jalgaon, Jalor, Jodhpur, Kolhapur, Kota, Mandideep, Mapusa, Margao, Merta City, Mumbai Metropolitan Region (49), Nagaur, Nagpur, Nashik(2), Nasirabad, Nathdwara, Neem-Ka-Thana, Niwai, Nokha, Ozar, Padra, Panjim, Pen, Pilani, Ponda, Por, Pune (6), Rajgurunagar (Khed), Rajkot, Rajsamand, Roha, Sachin, Sanand, Sehore, Sendhwa, Shahpura, Sihorli, Silvassa, Sinnar, Sumerpur, Surat (3), Udaipur, Ujjain, Urn red, Unjha, Vallabh Vidyanagar, Vapi, Varca, Vijapur, Waluj, Warulwadi, Yeola

 

SOUTH: Ambur, Bangalore (7), Chennai (5), Coimbatore, Devanahalli, Hosur, Hubli -Dharwad, Hyderabad (6), Kannur, Kochi, Kurichi, Malapuram, Mangalore, Narasaraopet, Salem, Shamshabad, Sriperumbudur, Suryapet, Thiruvanantapuram, Vijayawada, Vizag, Vizianagaram, Warangal

 

EAST: Adityapur, Agartala, Aizwal, Asansol, Bardhaman, Bhubhaneshwar, Bidhan Nagar, Chas - Bokaro, Dhanbad, Durg Bhilai, Durgapur, Gangtok, Guwahati, Howrah, Itanagar, Jorhat, Kalyani, Kolkata (4), Patna, Puri, Raipur, Ranchi, Rourkela, Shillong, Silchar, Tezpur

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Rana Kapoor

Designation :

Managing Director and Chief Executive Officer

 

 

Name :

Ms. Radha Singh

Designation :

Independent Director

 

 

Name :

Mr. Ajay Vohra

Designation :

Independent Director

 

 

Name :

LT. Gen. (Retired) Mr. Mukesh Sabharwal

Designation :

Independent Director

 

 

Name :

Mr. Diwan Arun Nanda

Designation :

Independent Director

 

 

Name :

Mr. M. R. Srinivasan

Designation :

Non-Independent Director From June, 2013 – till date

 

 

Name :

Mr. Ravish Chopra

Designation :

Non-Independent Director

 

 

Name :

Brahm Dutt

Designation :

Non-Independent Director

 

 

Name :

Mr. Saurabh Srivastava

Designation :

Independent Director

 

 

Name :

Vasant V Gujarathi

Designation :

Independent Director

 

 

KEY EXECUTIVES

 

MANAGEMENT TEAM

 

Name :

Mr. Abhay Sapru

 

Designation :

President and Country Head Infrastructure and Network Management

 

 

Name :

Abhishek Bhagat

Designation :

President

 

 

Name :

Mr. Aditya Sanghi

Designation :

President and Senior Managing Director Investment Banking

 

 

Name :

Mr. Ajay Desai

Designation :

President and Chief Financial Inclusive Officer and Social Banking

 

 

Name :

Ajay Mehta

Designation :

President

 

 

Name :

Akash Prasad

Designation :

President

 

 

Name :

Akshay Sapru

Designation :

President

 

 

Name :

Amit Sureka

Designation :

Senior President

 

 

Name :

Amit Dhawan

Designation :

Senior President

 

 

Name :

Amit Kumar

Designation :

Senior President

 

 

Name :

Anand Ganesan

Designation :

President

 

 

Name :

Anand Bajaj

Designation :

President

 

 

Name :

Arun Agrawal

Designation :

Group President

 

 

Name :

Ashish Agarwal

Designation :

Group President

 

 

Name :

Ashish Chandak

Designation :

President

 

 

Name :

Asit Oberoi

Designation :

Senior President

 

 

Name :

Aspy Engineer

Designation :

President

 

 

Name :

Astitwa Pandey

Designation :

President

 

 

Name :

Chitra Pandeya

Designation :

President

 

 

Name :

Deodutta Kurane

Designation :

Group President

 

 

Name :

Devamalya Dey

Designation :

Group President

 

 

Name :

Devang Rawal

Designation :

President

 

 

Name :

Dhavan Shah

Designation :

President

 

 

Name :

Guljiv Sahwney

Designation :

Group Executive Vice President

 

 

Name :

Hariharan K.

Designation :

Group Executive Vice President

 

 

Name :

Jaideep Iyer

Designation :

Group President

 

 

Name :

Jyoti Prasad Ratho

Designation :

President

 

 

Name :

K. Somasundaram

Designation :

Senior President

 

 

Name :

Kanwar Vivek

Designation :

Senior President

 

 

Name :

Kapil Juneja

Designation :

Senior President

 

 

Name :

Karan Ahluwalia

Designation :

President

 

 

Name :

Kingshuk Chakraborty

Designation :

Senior President

 

 

Name :

Lata Dave

Designation :

President

 

 

Name :

Malcolm Athaide

Designation :

Senior President

 

 

Name :

Manish Vora

Designation :

Senior President

 

 

Name :

Manoj Ralhan

Designation :

President

 

 

Name :

Munindra Verma

Designation :

President

 

 

Name :

Namita Vikas

Designation :

Senior President

 

 

Name :

Narendra Dixit

Designation :

President

 

 

Name :

Nikhil Sahni

Designation :

Senior President

 

 

Name :

Nipun Jain

Designation :

President

 

 

Name :

Nirav Dalal

Designation :

Senior President

 

 

Name :

Nitin Puri

Designation :

President

 

 

Name :

Nitin Sane

Designation :

President

 

 

Name :

P. Rakesh

Designation :

Managing Director

 

 

Name :

Parag Gorakshakar

Designation :

Senior President

 

 

Name :

Pralay Mondal

Designation :

Senior Group President

 

 

Name :

Pramesh Khanna

Designation :

President

 

 

Name :

Pran Jain

Designation :

President

 

 

Name :

Punit Malik

Designation :

Group President

 

 

Name :

R. Ravichander

Designation :

Group President

 

 

Name :

Rajat Monga

Designation :

Senior Group President

 

 

Name :

Rajeev Mahajan

Designation :

Senior President

 

 

Name :

Rajesh Jhunjhunwala

Designation :

President

 

 

Name :

Rajiv Anand

Designation :

President

 

 

Name :

Rajnish Datta

Designation :

Senior President

 

 

Name :

Rakesh Arya

Designation :

Senior President

 

 

Name :

Ramanand Pulavarti

Designation :

President

 

 

Name :

Rinki Dhingra

Designation :

President

 

 

Name :

Sanjay Palve

Designation :

Senior Group President

 

 

Name :

Sanjay Agrawal

Designation :

Senior President

 

Name :

Sanjay Mandavkar

Designation :

Senior President

 

 

Name :

Sanjay Nambiar

Designation :

Group President

 

 

Name :

Sanjeev Pandey

Designation :

President

 

 

Name :

Sanjiv Misra

Designation :

President

 

 

Name :

Satya Mohapatra

Designation :

President

 

 

Name :

Shivanand Shettigar

Designation :

Group Executive Vice President

 

 

Name :

Shubhada Rao

Designation :

Senior President

 

 

Name :

Subramanian Ayyar

Designation :

President

 

 

Name :

Sumit Gupta

Designation :

Group President

 

 

Name :

Sumit Kakkar

Designation :

Senior President

 

 

Name :

Surendra Jalan

Designation :

Group President

 

 

Name :

Surendra Shetty

Designation :

Senior President

 

 

Name :

Sushil Budhia

Designation :

Managing Director

 

 

Name :

Tushar Pandey

Designation :

Senior President

 

 

Name :

Umesh Gore

Designation :

President

 

 

Name :

Vijay Kumar

Designation :

President

 

 

Name :

Vikas Dawra

Designation :

Managing Director

 

 

Name :

Vinod Bahety

Designation :

Senior President

 

 

Name :

Vivek Bansal

Designation :

President

 

Name :

Yogesh Budhiraja

Designation :

President

 

 

Name :

Yogesh Kapoor

Designation :

President

 

 

Name :

Yogesh Shetye

Designation :

President

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.06.2014

 

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

 

 

As a % of (A+B)

(A) Shareholding of Promoter and Promoter Group

 

 

(1) Indian

 

 

Individuals / Hindu Undivided Family

55125000

13.29

Bodies Corporate

37017450

8.93

Sub Total

92142450

22.22

(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

92142450

22.22

 

 

 

(B) Public Shareholding

 

 

(1) Institutions

 

 

Mutual Funds / UTI

32205192

7.77

Financial Institutions / Banks

781843

0.19

Insurance Companies

51771932

12.48

Foreign Institutional Investors

186768355

45.04

Qualified Foreign Investor

700

0.00

Sub Total

271528022

65.47

(2) Non-Institutions

 

 

Bodies Corporate

10297557

2.48

Individuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

24377323

5.88

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

12082731

2.91

Any Others (Specify)

4282290

1.03

Clearing Members

866514

0.21

Non Resident Indians

2316307

0.56

Trusts

360803

0.09

Hindu Undivided Families

738666

0.18

Sub Total

51039901

12.31

Total Public shareholding (B)

322567923

77.78

 

 

 

Total (A)+(B)

414710373

100.00

 

 

 

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

(1) Promoter and Promoter Group

0

0.00

(2) Public

0

0.00

Sub Total

0

0.00

 

 

 

Total (A)+(B)+(C)

414710373

100.00

 

 

 

 

SHAREHOLDING BELONGING TO THE CATEGORY "PROMOTER AND PROMOTER GROUP"

 

Sr.No.

Name of the Shareholder

Details of Shares held

Encumbered shares (*)

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

No. of Shares held

As a % of grand total (A)+(B)+(C)

No

As a percentage

As a % of
grand total
(A)+(B)+(C) of sub-clause (I)(a)

1

Rana Kapoor

2,00,00,000

4.82

0

0.00

0.00

4.82

2

Madhu Kapur and Family

3,51,25,000

8.47

3335000

9.49

0.80

8.47

3

Yes Capital (India) Private Limited

1,51,25,000

3.65

0

0.00

0.00

3.65

4

Morgan Credits Private Limited

1,40,50,000

3.39

0

0.00

0.00

3.39

5

Mags Finvest Private Limited

78,42,450

1.89

0

0.00

0.00

1.89

 

Total

9,21,42,450

22.22

3335000

3.62

0.80

22.22

 

SHAREHOLDING BELONGING TO THE CATEGORY "PUBLIC" AND HOLDING MORE THAN 1% OF THE TOTAL NO. OF SHARES

 

Sr. No.

Name of the Shareholder

No. of Shares held

Shares as % of Total No. of Shares

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

1

Life Insurance Corporation Of India Along With Its Various Schemes

30598096

7.38

7.38

2

DB International (Asia) Limited

11890743

2.87

2.87

3

Swiss Finance Corporation (Mauritius) Limited

9765033

2.35

2.35

4

Bajaj Allianz Life Insurance Company Limited

8548651

2.06

2.06

5

Franklin Templeton Investment Fund

8522720

2.06

2.06

6

Goldman Sachs (Singapore) Pte

7848855

1.89

1.89

7

Credit Suisse (Singapore) Limited

4674192

1.13

1.13

8

Reliance Life Insurance Company Limited

4627858

1.12

1.12

9

Fullerton Fund Management Company Limited A/C BNP Paribas Trust Services Singapore Ltd As Trustee Offullerton Alpha - Asia Focus Equities Fund

4200000

1.01

1.01

 

Total

90676148

21.86

21.86

 

 

SHAREHOLDING BELONGING TO THE CATEGORY "PUBLIC" AND HOLDING MORE THAN 5% OF THE TOTAL NO. OF SHARES

 

Sr. No.

Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them

No. of Shares

Shares as % of Total No. of Shares

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

1

Life Insurance Corporation Of India Along With Its Various Schemes

30598096

7.38

7.38

 

Total

30598096

7.38

7.38

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Banking Activities

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Reserve Bank of India

 

 

Facilities :

Borrowings

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

I. Innovative Perpetual Debt Instruments (IPDI) and Tier II Debt

 

 

A. Borrowing in India

 

 

i) IPDI

7410.000

7510.000

ii) Upper Tier ll Borrowings

19367.000

19367.000

iii) Lower Tier II Borrowings

30255.000

31255.000

TOTAL (A)

57032.000

58132.000

B. Borrowings outside India

 

 

i) IPDI

299.575

271.425

ii) Upper Tier ll Borrowings

10382.401

9334.984

iii) Lower Tier II Borrowings

0.000

0.000

TOTAL (B)

10681.976

9606.409

TOTAL (A+B)

67713.976

67738.409

II. Other Borrowings*

 

 

A. Borrowing in India

 

 

i) Reserve Bank of India

35020.000

48958.900

ii) Other banks

26610.000

30832.500

iii) Other institutions and agencies **

31554.417

24759.375

TOTAL (A)

93184.417

104550.775

B. Borrowings outside India (B)

52244.469

36932.288

TOTAL (A+B)

145428.886

141483.063

 

 

 

TOTAL (I+II)

213142.862

209221.472

 

* Of the above, secured borrowings are Rs.31300.000 millions (March 31, 2013: Rs. 49896.031 millions).

** Including refinance borrowing.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S.R. Batliboi and Company LLP

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Subsidiary :

Yes Securities (India) Limited

 

 

CAPITAL STRUCTURE

 

AS ON 14.06.2014

 

Authorised Capital : Rs.6000.000 millions

 

Issued, Subscribed & Paid-up Capital : Rs.4156.585 millions

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

600000000

Equity Shares

Rs.10/- each

Rs.6000.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

360,633,626

Equity Shares

Rs.10/- each

Rs.3606.336 Millions

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

CAPITAL AND LIABILITIES

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

Capital

3606.336

3586.223

3529.874

Reserve and Surplus

67611.074

54490.482

43236.486

Deposits

741920.153

669555.852

491517.050

Borrowings

213142.862

209221.472

141564.874

Other Liabilities and Provisions

63877.474

54187.245

56408.508

TOTAL

1090157.899

991041.274

736256.792

ASSETS

 

 

 

Cash and balance with Reserve Bank of India

45415.683

33387.586

23325.440

Balance with banks money at call and short notice

13500.955

7270.011

12529.966

Investments

409503.624

429760.421

277573.491

Advances

556329.622

469995.663

379886.419

Fixed Assets

2934.694

2295.452

1771.038

Other Assets

62473.321

48332.141

41170.438

TOTAL

1090157.899

991041.274

736256.792

 

 

 

 

Contingent Liabilities

2010168.222

2478043.530

1614270.735

Bills for collection

9970.631

6773.965

4020.545

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

I.

INCOME

 

 

 

 

Interest Earned

99813.521

82939.991

63073.581

 

Other Income

17215.774

12574.326

8571.206

 

TOTAL

117029.295

95514.317

71644.787

 

 

 

 

 

II.

EXPENDITURE

 

 

 

 

Interest expended

72650.918

60752.092

46917.212

 

Operating Expenses

17498.719

13345.367

9325.343

 

Provision and Contingencies

10701.856

8410.051

5632.248

 

TOTAL

100851.493

82507.510

61874.803

 

 

 

 

 

III.

PROFIT

 

 

 

 

Net profit for the year

16177.802

13006.807

9769.984

 

Profit brought forward

23383.674

16583.936

11150.578

 

TOTAL

39561.476

29590.743

20920.562

 

 

 

 

 

IV.

APPROPRIATIONS

 

 

 

 

Transfer to Capital Reserve

41.359

348.646

253.337

 

Transfer to Statutory Reserve

4044.451

3251.702

2442.496

 

Transfer to Investment Reserve

4.385

97.136

0.228

 

Dividend paid for last year and tax thereon

4.026

7.559

(0.439)

 

Tax on dividend paid last year

17.307

1.227

0.000

 

Proposed Dividend

2885.069

2151.734

1411.950

 

Tax (including surcharge and education cess) on Dividend

490.317

349.065

229.054

 

Balance carried over to balance sheet

32074.562

23383.674

16583.936

 

TOTAL

39561.476

29590.743

20920.562

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

 - Basic

44.92

36.53

27.87

 

 - Diluted

44.35

35.55

27.13

 

 

 

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

3529.874

3586.223

3606.336

Reserves & Surplus

43236.486

54490.482

67611.074

Net worth

46766.360

58076.705

71217.410

 

 

 

 

Borrowings

141564.874

209221.472

213142.862

Total borrowings

141564.874

209221.472

213142.862

Debt/Equity ratio

3.027

3.603

2.993

 

 

 

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)

Interest Earned

63073.581

82939.991

99813.521

 

 

31.497

20.344

 

 

NET PROFIT MARGIN

 

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Interest Earned

63073.581

82939.991

99813.521

Net profit for the year

9769.984

13006.807

16177.802

 

15.49%

15.68%

16.21%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

DETAILS OF CURRENT MATURITIES OF LONG TERM DEBT: NOT AVAILABLE

 

Check List by Info Agents

 

Available in Report (Yes / No)

1) Year of Establishment

Yes

2) Locality of the firm

Yes

3) Constitutions of the firm

Yes

4) Premises details

No

5) Type of Business

Yes

6) Line of Business

Yes

7) Promoter’s background

No

8) No. of employees

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

No

32) PAN of Proprietor/Partner/Director, if available

No

33) Voter ID No of Proprietor/Partner/Director, if available

No

34) External Agency Rating, if available

Yes

 


LITIGATION DETAILS

 

 

LITIGATION DETAILS

                                                        Bench:- Bombay

 

Lodging No.:-

SL/2016/2011

Filling Date:-

15.07.2011

Reg. No.:-

S/2001/2011

Reg. Date:-

10.08.2011

 

Petitioner:-

ZOOM DEVELOPERS PRIVATE LIMITED AND 10 OTHERS

Respondent:-

YES BANK LIMITED

Petn. Adv.:-

CRAWFORD BAYLEY AND COMPANY

Resp. Adv.:-

M.V. KING AND COMPANY

District:-

MUMBAI

 

Bench:-

SINGLE

Category:-

SUITS FOR DAMAGES

Status:-

PRE-ADMISSION

Stage:-

FOR WRITTEN STATEMENT

 

Last Date:-

10.12.2012

Last Coram:-

REGISTRAR(OS)/ PROTHONOTARY AND SR. MASTER

 

 

Act:-

CODE OF CIVIL PROCEDURE 1908

 

 

Note: No charges exist for bank.

 

BACKGROUND

 

The Bank is a private sector Bank promoted by the late Mr. Ashok Kapur and Mr. Rana Kapoor. YES BANK Limited is a publicly held bank engaged in providing a wide range of banking and financial services. YES BANK Limited is a banking company governed by the Banking Regulation Act, 1949. The Bank was incorporated as a limited company under the Companies Act, 1956 on November 21, 2003. The Bank received the licence to commence banking operations from the Reserve Bank of India (‘RBI’) on May 24, 2004. Further, YES BANK was included to the Second Schedule of the Reserve Bank of India Act, 1934 with effect from August 21, 2004.

 

FINANCIAL PERFORMANCE

 

The Bank posted net revenues (Net Interest Income and other income) of C 4,4380 Million and Net Profit of C 1,6170 Million for the Financial Year 2013-14. The Net Revenues and Net Profit for the Financial Year 2012- 13 was C 3,4760 Million and C 1,3010 Million respectively. Appropriations from the Net Profit have been effected as per the table given above. Please refer to the section on financial and operating performance in the Management Discussion and Analysis for a detailed analysis of financial data.

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

EXECUTIVE OVERVIEW

 

MACRO-ECONOMIC AND INDUSTRY OVERVIEW

 

In 2013, global growth remained largely unchanged. As per IMF estimates (January 2014), global GDP growth was estimated at 3% in 2013 vis-à-vis 3.1% in 2012. The year under review was marked by a variance in growth and financial market conditions. The first half of the year evidenced weak global growth with an instability in the financial markets following a change in perception about a tapering of the US Federal Reserve’s quantitative easing programme; this precipitated a sell-off in emerging market assets amid a hardening of US interest rates. Thereafter, financial markets normalised with green shoots of growth led by advanced economies like the US, the eurozone, the UK and Japan.

 

The US economic growth appeared robust with a significant contribution from inventory accumulation, consumption and investment. On the other hand, the eurozone moved from recession to register growth gathering pace in the second quarter of 2013. This growth was largely export-driven with domestic activity turning positive for the first time since the recession. In China, domestic demand firmed with GDP growth touching 7.7% in 2013.

 

Since the 2008 global financial crisis, major central banks have moved largely in accordance with their provision of conventional and unconventional monetary stimulus. However, 2013 was marked by a divergence in the tone and tenor of the central banks. With the US economy gaining momentum, the Federal Reserve voted to gradually reduce its massive economic stimulus programme in December 2013. In the eurozone, the spectre of deflation and high unemployment compelled the European Central Bank to sustain its unconventional monetary policy. The Bank of Japan underscored the divergence with its December 2013 pledge to buy assets until it achieved its inflation target of 2%.

 

India’s growth slackened through FY 2012-13 and FY 2013-14. The Reserve Bank of India reduced policy rates by 100 bps in FY 2012-13 and 25 bps in May 2013. Before its June 2013 policy review, following risks of external sectoral instability, the US Federal Reserve hinted at a gradual withdrawal of quantitative easing. This put EM assets under pressure, with countries running high current account deficits. Between May 2013 and August 2013, the rupee depreciated by 16.3% on the back of a USD 12.6 billion portfolio capital outflow from India’s domestic equity and bond markets.

 

The RBI undertook several policy measures to restore stability. In consultation with the Central Government, gold imports were restricted to reduce the pressure on CAD. Interest rates increased by 200 bps bringing the MSF rate to 10.25%, resulting in tightening of liquidity. There was a cap on overnight repo borrowing at 0.5% of NDTL, OMO sales of G-secs and a hike in the daily CRR maintenance requirement from 70% to 99%. The RBI provided an unconventional dollar swap window to public sector oil marketing companies (for oil imports) and banks {for FCNR(B) deposits and Tier-I Capital} for a limited period till November 2013. These measures restored confidence in the rupee; the currency strengthened from a low of C68.82 against the US dollar on August 28th, 2013 to C59.89 on March 28th, 2014.

 

As per advance estimates released by the government, GDP growth in FY 2013-14 is expected at 4.9%, the second successive year of a sub-5% growth. The country’s GDP growth was dragged down by contraction in industrial output, which registered a growth of -0.1% during April-February period in FY 2013-14 compared to a 0.9% growth in the same period of FY 2012-13. Stalled infrastructure projects and subdued corporate investments contributed to the slowdown. To improve the investment climate and address infrastructural bottlenecks, the Cabinet Committee on Investment cleared 296 projects worth C6.6 trillion by January 2014. The agriculture sector witnessed a record production of rice, wheat, pulses, oilseeds and cotton on the back of a satisfactory monsoon.

 

 

After closing FY 2012-13 at 10.2%, average consumer price inflation began to moderate in FY 2013-14. However, food prices, especially perishables, stayed volatile. consumer price index inflation rose to an alltime high of 11.2% in November 2013 due to a spike in vegetable prices but subsequently, consumer price index inflation declined to 8.1% in February 2014. Average consumer price index inflation for April- February FY 2013-14 moderated to 9.6% and inflation at the wholesale level also followed a similar trajectory. WPI inflation averaged 5.9% during April-February FY 2013-14 compared to an average 7.4% in FY 2012-13.

 

India’s current account deficit touched a record 4.8% of GDP in FY 2012-13. During Q1 FY 2013-14, current account deficit deteriorated to 4.9% on the back of a surge in imports (especially gold). Domestic policy intervention and improvement in the external economic environment inspired a sharp decline in CAD to 1.2% in Q2 FY 2013-14 and 0.9% in Q3 FY 2013-14. An improvement in exports and moderation in imports helped mitigate India’s external vulnerability.

 

Even as fiscal targets were largely met in FY 2013-14, the quality of fiscal adjustment remained a concern. Fiscal deficit is expected to remain at 4.6% of the GDP (revised budgetary estimates). On account of a growth slowdown, gross tax revenue recorded a shortfall of 6.2% against the budgeted level while non-tax revenue exceeded budgeted targets due to higher dividend receipts. The shortfall in tax revenue receipts was offset by a sharp contraction in the 12th Five Year Plan expenditure (14.4% vis-à-vis budgeted target), indicating no improvement in fiscal adjustment.

 

A stability in the rupee since September 2013 encouraged the RBI to start normalising its monetary policy. The MSF-repo rate spread, which had risen to 300 bps in July 2013, was moderated to 200 bps in September 2013 with a 75 bps cut in the MSF rate to 9.50% and a simultaneous 25 bps increase in the repo rate to 7.50%. The daily CRR maintenance requirement was relaxed from 99% to 95%. The MSFrepo rate spread was restored to the usual 100 bps in October 2013 with another 75 bps cut in the MSF rate to 8.75% and a simultaneous 25 bps increase in the repo rate to 7.75%. The repo rate was later increased to 8.00% (with MSF rate calibrated at 9.00%) in the January 2014 policy review to guard against inflation and calibrate the policy rate with the objective to achieve an 8% consumer price index target by January 2015 (recommended by the Urjit Patel Committee Report, January 2014).

 

The RBI introduced the term money market in October 2013 to enhance monetary policy transmission and provide a term money-yield curve. Liquidity to banks through the term money window increased from C19,5000 Million in end-October 2013 to C1,20,0000 Million in end-March 2014.

 

Liquidity conditions remained in the deficit during FY 2013-14. Liquidity deficit (after adjusting for CRR maintenance) tightened from C47,8720.000 Million in end- June 2013 to C1,36,9010 Million in end-September

2013 on account of various measures by the RBI and dollar sales by RBI worth USD 12 billion during July- September 2013. Even as liquidity deficit improved to C69,2310 Million in end-November 2013 following a near USD 34 billion inflow under the dollar swap window provided to banks, the comfort was shortlived. Currency leakage worth approximately C70,0000 Million and the government’s drive to curb expenditure and meet fiscal targets during December 2013 and March 2014 resulted in tighter liquidity conditions. The year-end liquidity deficit was C1,78,5000 Million as of March 31st, 2014.

 

BUSINESS SEGMENT OVERVIEW

 

YES BANK launched ‘Version 2.0’ in April 2010, its most stimulating initiative to build scale, granularity and diversity. The Bank completed four years of the implementation of ‘Version 2.0’, delivering highly satisfactory results in challenging environments. On back of a rapidly expanding branch network of desired maturity, the Bank stood at an inflection point with regard to their liabilities base. The Bank offered the gamut of retail asset products and is poised to grow this range in order to achieve its ‘Version 2.0’ vision. The Bank continued to pursue its targets through a differentiated business model. The Bank leveraged robust management frameworks, constant innovation and cutting-edge technologies. The Bank’s approach was validated through recognition, awards and accolades from media houses, consulting organizations and thought leadership forums.

 

 

CONTINGENT LIABILITIES

 

Particulars

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

i. Claims against the bank not acknowledged as debts

 

--

ii. Liability for partly paid investments

 

--

iii. Liability on account of outstanding forward exchange contracts

1104666.493

1500302.096

iv. Liability on account of outstanding derivative contracts

 

--

- Single currency Interest Rate Swaps

498750.662

659577.736

- Others

95971.508

48188.523

v. Guarantees given on behalf of constituents

 

--

- In India

104640.628

85701.999

- Outside India

 

--

vi. Acceptances, endorsement and other obligations

164442.130

152629.077

vii. Other items for which the bank is contingently liable

 

--

- Value dated purchase of securities

206.475

107.240

- Capital commitments

238.440

255.584

- Foreign Exchange Contracts (Tom and Spot)

41251.886

31281.275

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2014

 

(Rs. in millions)

Sr. No.

 

 

PARTICULARS

 

 

For the quarter ended

 

 

30.06.2014

 

 

(Unaudited)

1

Interest earned (a)+(b)+(c)+(d)

 

 

26,796.000

 

 

 

 

 

(a)

Interest/discount on advances/bills

 

 

18,458.600

(b)

Income on investments

 

 

8218.700

(c)

Interest on balances with Reserve Bank of India and other inter-bank funds

 

 

118.700

(d)

Others

 

 

4256.100

2

Other Income

 

 

31052.100

A.

TOTAL INCOME (1+2)

 

 

 

3

Interest Expended

 

 

19342.600

4

Operating Expenses (e)+(f)

 

 

5267.200

(e)

Payments to and provisions for employees

 

 

2247.200

(f)

Other operating expenses

 

 

3020.000

B.

Total Expenditure (3)+(4) (excluding provisions and contingencies)

 

 

24609.800

C.

Operating Profit (before Provisions and Contingencies)(A-B)

 

 

6442.300

D.

Provisions (other than Tax ) and Contingencies

 

 

237.400

E.

Exceptional Items

 

 

--

F.

Profit from ordinary activities before tax (C-D-E)

 

 

6204.900

G.

Tax Expense

 

 

1810.100

H.

Net profit from Ordinary Activities after tax (F-G)

 

 

4394.800

I.

Extraordinary Items (Net of tax)

 

 

--

J.

NET PROFIT (H-I)

 

 

4394.800

5

Paid-up equity Share Capital (Face value of Rs.10 each)

 

 

4,147.100

6

Reserves & Surplus excluding revaluation reserves

 

 

 

7

Analytical ratios :

 

 

 

(i)

Percentage of Shares held by Government of India

 

 

Nil

(ii)

Capital Adequacy ratio

 

 

 

(a)

BASEL II

 

 

--

(b)

BASEL III

 

 

17.60

(iii)

Earning per share for the period / year

(before and after extraordinary items)

 

 

 

 

- Basic (Rs.)

 

 

11.70

 

- Diluted (Rs.)

 

 

11.50

Not Annualized

 

 

 

 

 

(iv)

NPA ratios-

 

 

 

a

Gross NPA

 

 

1979.600

b

Net NPA

 

 

428.100

c

% of Gross NPA

 

 

0.33%

d

% of Net NPA

 

 

0.07%

(v)

Return on assets (average) (annualized)

 

 

1.6%

8

Aggregate Public shareholding

 

 

 

 

- Number of shares

 

 

32,25,67,923

 

- Percentage of shareholding

 

 

77.78%

9

Promoter and Promoter Group Shareholding

 

 

 

a

Pledged / Encumbered

 

 

 

 

Number of Shares (Total)

 

 

4135000

 

Madhu Kapur

 

 

3335000

 

Mags Finvest Private Limited

 

 

800000

 

- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

 

 

4.49%

 

-Percentage of Shares (as a % of the total share capital)

 

 

1.15%

b

Non- encumbered

 

 

 

 

1a. Rana Kapoor - Promoter

 

 

20000000

 

1b. Yes Capital (India) Private Limited

 

 

15125000

 

1c. Morgan Credit Private Limited

 

 

14050000

 

2a. Madhu Kapur

 

 

31790000

 

2b. Mags Finvest Private Limited

 

 

7842450

 

- Number of shares (Total)

 

 

88007450

 

- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

 

 

96.38%

 

-Percentage of Shares (as a % of the total share capital)

 

 

21.42%

 

*Except for disclosure regarding 'Aggregate Public Shareholding' and 'Promoters and Promoter Group Shareholding' which are unaudited.

 

NOTES:

 

1.       The results have been taken on record by the Board of Directors of the Bank at its meeting held on July 23, 2014. The results have been subject to "Limited Review" by the Statutory Auditors of the Bank.



2. The figures for the quarter ended March 31, 2014 are the balancing figures between audited figures in respect of the full financial year ended March 31, 2014 and the published year to date figure up to the end of third quarter of the financial year ended March 31, 2014.



3. During the quarter ended June 30, 2014, the Bank has issued 53,492,272 equity shares of Rs. 10 each for cash pursuant to a Qualified Institutional Placement (QIP) at Rs. 550 aggregating to Rs. 29,420.75 million. The Bank has utilized these funds in line with the use of proceeds mentioned in the Placement Document.



4. During the quarter ended June 30, 2014, the Bank allotted 584,475 shares pursuant to the exercise of stock options by certain employees.



5. Other income includes non fund based income such as commission earned from guarantees, letters of credit, financial advisory fees, selling of third party products, earnings from foreign exchange transactions and profit/(loss) from sale of securities.

6. Return on assets is computed using a simple average of total assets at the beginning and at the end of the relevant period.

7. The disclosures for NPA referred to in point 7(iv) above correspond to Non Performing Advances.

8. The total capital infused and outstanding in Yes Securities (India) Limited (wholly owned subsidiary) as at June 30, 2014 is Rs. 2,50.0 Millions.



9. In accordance with RBI circular dated July 01, 2013, Banks are required to make Pillar 3 disclosures under Basel III capital requirements. The Pillar III disclosures have not been subjected to limited review by the statutory auditors.

10. As the business of the Bank is concentrated in India; the segment disclosures made pertain to domestic segment for geographic segment purposes.



11. Previous period figures have been regrouped /reclassified wherever necessary to conform to current period's classification.

 

 

B

INVESTOR COMPLAINTS :

Quarter Ended

30.06.2014

 

Pending at the beginning of the quarter

Nil

 

Received during the quarter

34

 

Disposed of during the quarter

34

 

Remaining unresolved at the end of the quarter

Nil

 

 

SEGMENTAL RESULTS

(Rs. in millions)

Sr. No.

 

 

PARTICULARS

 

 

For the Quarter Ended

 

 

 

30.06.2014

 

 

(Unaudited)

1

Segment revenue

 

 

 

(a)

Treasury

 

 

6104.100

(b)

Corporate Banking

 

 

20538.00

(c)

Retail Banking

 

 

1986.400

(d)

Other Banking Operations

 

 

80.500

 

TOTAL

 

 

28709.100

 

Add / (Less): Inter Segment Revenue

 

 

2342.700

 

Income from Operations

 

 

31051.800

2

Segmental Results

 

 

 

(a)

Treasury

 

 

3870.800

(b)

Corporate Banking

 

 

6602.000

(c)

Retail Banking

 

 

(547.000)

(d)

Other Banking Operations

 

 

19.100

 

TOTAL

 

 

9953.900

 

Unallocable costs net of unallocable income

 

 

3749.000

 

Profit before Tax

 

 

6204.900

 

Taxes

 

 

1810.100

 

Profit after Tax

 

 

4394.800

3

Capital Employed

 

 

 

(a)

Treasury

 

 

310563.700

(b)

Corporate Banking

 

 

17618.600

(c)

Retail Banking

 

 

(150523.800)

(d)

Other Banking Operations

 

 

(3169.300)

(e)

Unallocated

 

 

(69510.600)

 

Total

 

 

104978.600

 

 

SEGMENT

PRINCIPAL ACTIVITIES

Treasury

Includes investments, all financial markets activities undertaken on behalf of the Bank's customers, proprietary trading, maintenance of reserve requirements and resource mobilisation from other banks and financial institutions.

Corporate Banking

Includes lending, deposit taking and other services offered to corporate customers.

Retail Banking

Includes lending, deposit taking and other services offered to retail customers.

Other Banking Operations

Includes para banking activities like third party product distribution, merchant banking etc.

 

 

FIXED ASSETS:

 

·         Office Equipment

·         Computer Hardware

·         Computer Software

·         Vehicles

·         Furniture and Fixtures

·         Leasehold improvements to premises

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.60.99

UK Pound

1

Rs.99.10

Euro

1

Rs.79.03   

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

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

7

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--MARGINS

-5~5

68

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

 

68

 

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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.