MIRA INFORM REPORT
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Report No. : |
352749 |
|
Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
EDELWEISS
FINANCIAL SERVICES LIMITED (w.e.f. 10.08.2011) |
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Formerly Known
As : |
EDELWEISS CAPITAL LIMITED |
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Registered Office
: |
Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai –
400098, Maharashtra |
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Tel. No.: |
91-22-40094400 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
21.11.1995 |
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Com. Reg. No.: |
11-094641 |
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Capital
Investment / Paid-up Capital : |
Rs.791.750 Million |
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CIN No.: [Company Identification
No.] |
L99999MH1995PLC094641 |
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IEC No.: |
0308036492 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACE1461E |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is primarily engaged in investment banking services and provides development, managerial and financial support to the businesses of the Edelweiss group entities. (From Indirect Sources) |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was previously known as “Edelweiss Capital Limited”, it was incorporated in 1995 by Mr. Rashesh Shah and Mr. Venkat Ramaswamy. Edelweiss Financial Services Limited is the parent company of the Edelweiss group. The company on a stand-alone basis is primarily engaged in investment banking services and provides development, managerial and financial support to the businesses of the Edelweiss group entities. The businesses of Edelweiss are organized around five broad lines – credit including housing finance, commodities, financial markets, asset management and life insurance. The rating takes consideration on company’s diversified business profile, strong financial and operational position along with robust profitability margin and market position with comfortable liquidity profile.
The rating also takes into account the well-qualified and experienced management team, established institutional equity broking business and good retail distribution network. The rating is, however, constrained by substantial proportion of revenue from the capital markets, client concentration risk, increased gearing levels and competitive scenario in the capital markets. In view of aforesaid, the company can be considered good for business dealings at its 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Non-convertible
debenture = AA |
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Rating Explanation |
High degree of safety
and very low credit risk. |
|
Date |
October, 2015 |
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Rating Agency Name |
CARE |
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Rating |
Commercial paper =
A1+ |
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Rating Explanation |
Very strong degree
of safety and carry lowest credit risk. |
|
Date |
October, 2015 |
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
31-03-2015.
INFORMATION DENIED
Management non-cooperative (91-22-40094400)
LOCATIONS
|
Registered / Corporate Office : |
Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai –
400098, Maharashtra, India |
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Tel. No.: |
91-22-40094400 |
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Fax No.: |
91-22-22864400 |
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E-Mail : |
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Website : |
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EdelGive Foundation
: |
Edelweiss House, 14th Floor, Off C.S.T. Road, Kalina, Mumbai – 400098, Maharashtra, India |
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Tel. No.: |
91-22-40863535 |
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E-Mail : |
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Website : |
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Fountainhead : |
Alibaug Bamansure, Post Kihim, Alibaug - 402201, Maharashtra, India Tel. No.: 91-2141-304304 / 91-2141-247580 Email : reservations@fountainheadindia.in / feedback@fountainheadindia.in Mumbai Sales Office Edelweiss Financial Services, Edelweiss House, 5th Floor, Off C.S.T. Road, Kalina, Mumbai – 400098, Maharashtra, India |
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Branch Offices : |
Located at :
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Overseas Offices : |
Located At :
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DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Rashesh Chandrakant Shah |
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Designation : |
Managing Director |
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Address : |
B-233 10th Floor, Kalpataru Horizon-B, S K Ahire Marg, Worli, Mumbai - 400018, Maharashtra, India |
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Qualification : |
MBA From IIM |
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Experience : |
25 Years Of Diverse Experience In The Financial Market Sector. |
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Date of Appointment : |
21.11.1995 |
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DIN No.: |
00008322 |
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Name : |
Mr. Rujan Harchand Panjwani |
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Designation : |
Whole-Time Director |
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Address : |
26th Hemprabha Building, 7th Floor, Marine Drive, Mumbai - 400020, Maharashtra, India |
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Qualification : |
Electrical Engineer |
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Experience : |
15 years’ experience with Edelweiss Group |
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Date of Appointment : |
24.06.2013 |
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DIN No.: |
00237366 |
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Name : |
Mr. Venkatchalam Arakoni Ramaswamy |
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Designation : |
Whole-Time Director |
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Address : |
142, Beach Apartment, 14th Floor, P. Balu Road, Prabhadevi, Mumbai - 400025, Maharashtra, India |
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Qualification : |
Electronics Engineering, MBA |
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Date of Appointment : |
20.02.1995 |
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DIN No.: |
00008509 |
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Name : |
Mr. Pudugramam Narayanaswamy Venkatachalam |
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Designation : |
Director |
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Address : |
Flat No.3c, Settlur Manor, No.2, Sivaswamy Street, Opp:Dr.Radhakrishnan Salai, Mylapore, Chennai - 600004, Tamilnadu, India |
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Qualification : |
Master degree in Economics |
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Date of Appointment : |
09.08.2007 |
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DIN No.: |
00499442 |
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Name : |
Mr. Berjis Minoo Desai |
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Designation : |
Director |
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Address : |
Yezerina-Ii Road No 5, 740/741 Dadar Parsi Colony Dadar, Mumbai, 400014, Maharashtra, India |
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Qualification : |
Master degree in Law |
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Date of Appointment : |
18.11.2009 |
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DIN No.: |
00153675 |
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Name : |
Mr. Sanjiv Misra |
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Designation : |
Director |
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Address : |
House 27 East Sussex Lane, Singapore, 279813, , Singapore |
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Qualification : |
Master of management |
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Date of Appointment : |
16.05.2011 |
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DIN No.: |
03511635 |
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Name : |
Mr. Sunil Mitra |
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Designation : |
Director |
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Address : |
241, Shantipally, Kolkata, 700078, West Bengal, India |
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Qualification : |
Bachelor degree in Science |
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Date of Appointment : |
07.12.2011 |
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DIN No.: |
00113473 |
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Name : |
Mr. Navtej Singh Nandra |
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Designation : |
Director |
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Address : |
22 West 15 Street, 18a, New York, 10011, , United States Of America |
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Qualification : |
Bachelor degree in commerce |
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Date of Appointment : |
15.05.2013 |
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DIN No.: |
02282617 |
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Name : |
Mr. Kunnasagaran Chinniah |
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Designation : |
Director |
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Address : |
12 Countryside Grove, Singapore 789967, Singapore, 789967, , Singapore |
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Qualification : |
Bachelor degree in Electrical Engineering |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
01590108 |
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Name : |
Mr. Himanshu Nalin Kaji |
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Designation : |
Whole-Time Director |
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Address : |
C/7 Ishwar Niwas Sicka Nagar, V. P. Road, Mumbai, 400004, Maharashtra, India |
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Qualification : |
Chartered Accountant with post graduate diploma in securities law |
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Date of Appointment : |
01.11.2011 |
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DIN No.: |
00009438 |
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Name : |
Ms. Vidya Rashesh Shah |
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Designation : |
Director |
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Address : |
B-223 9th Floor Kalpataru Horizon-B, S K Ahire Marg, Worli, Mumbai, 400018, Maharashtra, INDIA |
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Qualification : |
B.Com, MBA |
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Date of Appointment : |
01.08.2014 |
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DIN No.: |
00274831 |
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Name : |
Mr. Biswamohan Mahapatra |
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Designation : |
Director |
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Address : |
A-15,Dhanastra,122 Nathalal Parekh Marg,, Colaba, Mumbai, 400005, Maharashtra, India |
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Qualification : |
Master of Science in Management, MBA, M.A. |
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Date of Appointment : |
26.03.2015 |
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DIN No.: |
06990345 |
KEY EXECUTIVES
|
Name : |
B Renganathan |
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Designation : |
Company Secretary |
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Address : |
B 402, Keshav Kunj II, Sector 15, Sanpada, Navi Mumbai - 400705, Maharashtra, India |
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Date of Appointment : |
22.07.2008 |
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PAN No.: |
AADPB8630N |
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Name : |
Subramanian Ranganathan |
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Designation : |
Chief Financial Officer |
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Address : |
A- 407/408 4th Floor, Golf Scaape Sion Trombay,Chembur, Mumbai - 400071, Maharashtra, India |
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Date of Appointment : |
17.05.2014 |
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PAN No.: |
AADPR6519A |
SHAREHOLDING PATTERN
As on 30.09.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of
Shares |
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
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|
264435690 |
32.60 |
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|
41950000 |
5.17 |
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|
306385690 |
37.77 |
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|
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|
1000000 |
0.12 |
|
|
1000000 |
0.12 |
|
Total shareholding
of Promoter and Promoter Group (A) |
307385690 |
37.89 |
|
|
|
|
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
11705602 |
1.44 |
|
|
387053 |
0.05 |
|
|
146328843 |
18.04 |
|
|
158421498 |
19.53 |
|
|
|
|
|
|
21223093 |
2.62 |
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs.0.100 Million |
40903455 |
5.04 |
|
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million |
116199904 |
14.32 |
|
|
167108453 |
20.60 |
|
|
1604815 |
0.20 |
|
|
17293872 |
2.13 |
|
|
45411789 |
5.60 |
|
|
16214530 |
2.00 |
|
|
2453237 |
0.30 |
|
|
8081680 |
1.00 |
|
|
76048530 |
9.37 |
|
|
345434905 |
42.58 |
|
Total Public
shareholding (B) |
503856403 |
62.11 |
|
Total (A)+(B) |
811242093 |
100.00 |
|
|
|
|
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
811242093 |
0.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
Sl. No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total |
||
|
1 |
Rashesh Chandrakant Shah |
145301730 |
17.91 |
|
2 |
Venkat Ramaswamy |
58026560 |
7.15 |
|
3 |
Spire Investment Advisor LLP |
41950000 |
5.17 |
|
4 |
Vidya Rashesh Shah |
35031200 |
4.32 |
|
5 |
Kaavya Arakoni Venkat |
12000000 |
1.48 |
|
6 |
Aparna T C |
12000000 |
1.48 |
|
7 |
Sneha Sripad Desai |
1025000 |
0.13 |
|
8 |
Shilpa Urvish Mody |
1001200 |
0.12 |
|
9 |
Sejal Premal Parekh |
1000000 |
0.12 |
|
10 |
Arakoni Venkatachalam Ramaswamy |
50000 |
0.01 |
|
|
Total |
307385690 |
37.89 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Public and holding more than 1% of the total number of
shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
First Carlyle Ventures Mauritius |
68048557 |
8.39 |
|
|
2 |
Edelweiss Employees Welfare Trust |
37595270 |
4.63 |
|
|
3 |
Privatbank Ihag Zurich AG |
31952620 |
3.94 |
|
|
4 |
Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Midcap Fund |
9658453 |
1.19 |
|
|
5 |
Saif Advisors Mauritius Ltd A/c Saif India IV FII Holdings Limited |
25633505 |
3.16 |
|
|
6 |
FIL Investments (Mauritius) Limited |
14190821 |
1.75 |
|
|
7 |
BIH SA |
14043180 |
1.73 |
|
|
8 |
Fidelity Investment Trust Fidelity International Discovery Fund |
16390474 |
2.02 |
|
|
9 |
Rujan Harchand Panjwani |
12316380 |
1.52 |
|
|
10 |
Naresh Lakshmansingh Kothari |
12106220 |
1.49 |
|
|
11 |
Amansa Holdings Private Limited |
11900000 |
1.47 |
|
|
12 |
Priya Khubchandani |
10723142 |
1.32 |
|
|
13 |
Jhunjhunwala Rakesh Radheshyam |
10000000 |
1.23 |
|
|
14 |
Shriram Venkiteswaran Iyer |
8378612 |
1.03 |
|
|
|
Total |
282937234 |
34.88 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
(together with PAC) belonging to the category “Public” and holding more than 5%
of the total number of shares of the company
|
Sl. 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 |
|
|
1 |
First Carlyle Ventures Mauritius |
68048557 |
8.39 |
|
|
2 |
Privatbank Ihag Zurich AG |
31957830 |
3.94 |
|
|
3 |
BIH SA |
14043180 |
1.73 |
|
|
|
Total |
114049567 |
14.06 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in investment banking services and provides development, managerial and financial support to the businesses of the Edelweiss group entities. (From Indirect Sources) |
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Products / Services : |
Investment Banking Services |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Statutory Auditors : |
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Name : |
B S R and Associates Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries which are controlled by the company : |
(Related party
details Attach) |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 791.750 Million
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
791.750 |
769.050 |
718.940 |
|
(b) Reserves &
Surplus |
13908.780 |
13016.700 |
11188.630 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
42.410 |
0.080 |
22.500 |
|
Total Shareholders’ Funds
(1) + (2) |
14742.940 |
13785.830 |
11930.070 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2375.750 |
3057.090 |
2304.060 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
37.250 |
3.060 |
13.530 |
|
Total Non-current
Liabilities (3) |
2413.000 |
3060.150 |
2317.590 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
45034.280 |
5431.850 |
6728.540 |
|
(b) Trade payables |
128.610 |
65.420 |
65.790 |
|
(c) Other current
liabilities |
2271.410 |
156.630 |
398.550 |
|
(d) Short-term provisions |
501.860 |
249.310 |
150.160 |
|
Total Current Liabilities
(4) |
47936.160 |
5903.210 |
7343.040 |
|
|
|
|
|
|
TOTAL |
65092.100 |
22749.190 |
21590.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
31.280 |
40.490 |
45.900 |
|
(ii) Intangible Assets |
20.450 |
19.040 |
18.860 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
14732.350 |
13639.550 |
14297.980 |
|
(c) Deferred tax assets
(net) |
108.630 |
75.320 |
27.550 |
|
(d) Long-term Loan and Advances |
2959.770 |
3025.820 |
536.730 |
|
(e) Other Non-current
assets |
1.960 |
4.140 |
0.000 |
|
Total Non-Current Assets |
17854.440 |
16804.360 |
14927.020 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
265.710 |
213.710 |
122.880 |
|
(d) Cash and cash
equivalents |
837.410 |
146.310 |
193.930 |
|
(e) Short-term loans and
advances |
45676.810 |
5225.470 |
6062.560 |
|
(f) Other current assets |
457.730 |
359.340 |
284.310 |
|
Total Current Assets |
47237.660 |
5944.830 |
6663.680 |
|
|
|
|
|
|
TOTAL |
65092.100 |
22749.190 |
21590.700 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
2478.260 |
2149.090 |
1568.080 |
|
|
Other Income |
3.340 |
1.730 |
0.610 |
|
|
TOTAL |
2481.600 |
2150.820 |
1568.690 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
516.790 |
311.190 |
388.940 |
|
|
Other expenses |
329.410 |
397.930 |
298.810 |
|
|
TOTAL |
846.200 |
709.120 |
687.750 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1635.400 |
1441.700 |
880.940 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
236.690 |
611.790 |
390.350 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1398.710 |
829.910 |
490.590 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.180 |
27.140 |
19.490 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1369.530 |
802.770 |
471.100 |
|
|
|
|
|
|
|
Less |
TAX |
254.720 |
69.810 |
3.190 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1114.810 |
732.960 |
467.910 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
326.200 |
205.290 |
283.440 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
111.480 |
73.300 |
46.790 |
|
|
Interim Dividend |
630.980 |
422.970 |
421.670 |
|
|
Proposed Dividend |
159.640 |
115.780 |
76.740 |
|
|
Dividend distribution tax |
56.250 |
0.000 |
0.860 |
|
|
Total |
958.350 |
612.050 |
546.060 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
482.660 |
326.200 |
205.290 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
|
Basic |
1.43 |
0.95 |
0.62 |
|
|
Diluted |
1.36 |
0.95 |
0.60 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(38634.620) |
457.620 |
15216.170 |
|
Net cash flows from operating activities |
NA |
NA |
NA |
QUARTERLY RESULTS
|
Particulars (Unaudited) |
30.06.2015 |
30.09.2015 |
|
1st Quarter |
2nd Quarter |
|
|
Net Sales |
750.800 |
593.700 |
|
Total Expenditure |
305.300 |
230.700 |
|
PBIDT (Excl OI) |
445.500 |
363.000 |
|
Other Income |
0.000 |
0.400 |
|
Operating Profit |
445.500 |
363.400 |
|
Interest |
69.900 |
33.300 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
375.600 |
330.100 |
|
Depreciation |
6.800 |
6.200 |
|
Profit Before Tax |
368.800 |
323.900 |
|
Tax |
73.100 |
38.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
295.700 |
285.300 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
295.700 |
285.300 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
44.98 |
34.11 |
29.84 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
65.99 |
67.08 |
56.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.73 |
8.89 |
6.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.06 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.22 |
0.62 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.01 |
0.91 |
STOCK
PRICES
|
Face Value |
Rs.1.00/- |
|
Market Value |
Rs.59.00/- |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
718.940 |
769.050 |
791.750 |
|
Reserves & Surplus |
11188.630 |
13016.700 |
13908.780 |
|
Share Application money
pending allotment |
22.500 |
0.080 |
42.410 |
|
Net worth |
11930.070 |
13785.830 |
14742.940 |
|
|
|
|
|
|
long-term borrowings |
2304.060 |
3057.090 |
2375.750 |
|
Short term borrowings |
6728.540 |
5431.850 |
45034.280 |
|
Total borrowings |
9032.600 |
8488.940 |
47410.030 |
|
Debt/Equity ratio |
0.757 |
0.616 |
3.216 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1568.080 |
2149.090 |
2478.260 |
|
|
|
37.052 |
15.317 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1568.080 |
2149.090 |
2478.260 |
|
Profit |
467.910 |
732.960 |
1114.810 |
|
|
29.84% |
34.11% |
44.98% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
SL/112/2012 |
Failing Date:- |
17.01.2012 |
Reg. No.:- |
S/612/2012 |
Reg. Date:- |
09.03.2012 |
|
Petitioner:- |
NEW INDIA ASSURANCE COMPANY LIMITED |
Respondent:- |
EDELWEISS FINANCIAL SERVICES LIMITED |
||||
|
Petn.Adv:- |
NAVDEEPVORA AND ASSOCIATES |
Resp. Adv.: |
THAKORE JARIWALA AND ASSOCIATES |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
Category:- |
CIVIL SUITS |
||||
|
Status:- |
TRANSFERRED |
Stage:- |
TRANSFERRED TO CITYCIVIL COURT, |
||||
|
Transfer Date:- |
03.10.2012 |
||||||
|
|
|
||||||
|
Act. : |
CODE OF CIVIL PROCEDURE 1908 |
||||||
SEGMENT REPORT
The company’s business is organized and
management reviews the performance based on the business segments as mentioned
below:
|
Segment |
Activities Covered |
|
Agency Business |
Advisory and transactional services |
|
Holding Company Activities |
Development, managerial and financial
support to the businesses of edelweiss group entities |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10536167 |
12/11/2014 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
C36127231 |
|
2 |
10490796 |
17/04/2014 |
2,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
C03303930 |
|
3 |
10042105 |
01/03/2007 |
15,087,438.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, VADODARA - 390015, GUJARAT, INDIA |
A12601704 |
* Date of charge modification
FINANCIAL PERFORMANCE
HIGHLIGHTS
The year FYI5 has been a satisfying year for Edelweiss as the strategy of diversification of businesses continued to stand in good stead. With the macro-economic indicators starting to improve and capital markets turning positive, we saw all the businesses being in the right place at the right time to garner our share of growth. They accordingly maintained the trend of our quarterly profits of FYI5 improving consistently since Q2FY12. Contribution from the new businesses and efficiency and productivity improvement resulted in our net profit for FYI5 going up to 73,287 million, a growth of 49% over FY14. One heartening feature of our profitability growth is that increasingly their profits are being contributed by a diverse set of businesses eliminating volatility and building sustainability in our performance. With significant improvement in our profitability in FY15, their capital and operating efficiency also improved simultaneously in FY15.
As mentioned earlier, over last 12 years, their total revenue has grown at a CAGR of 64% and net profit has increased at a CAGR of 73% as at the end of FY15. In more recent times since the completion of their diversification phase, over the past three years their total revenue has grown at a CAGR of 33% and net profit has increased at a CAGR of 37% as at the end of FY15. This noteworthy growth in the past three years has to be viewed in the backdrop of the fact that FYI3 and FYI4 had challenging business environment with the Indian economy recording sub-5% GDP growth (in terms of the old series) in each of these two years.
SUBSIDIARIES
During the year ended March 31, 2015, the following companies became the subsidiaries of the Company:-
- Forefront Capital Management Private Limited;
- Forefront India Capital Management;
- Edelweiss Integrated Commodity Management Limited;
- Edelweiss Commodities (Chad) SARL;
- Olive Business Centre Limited;
- Eternity Business Centre Limited;
- Auris Corporate Centre Limited;
- Burlington BusinessSolutions Limited;
- Serenity Business Park Limited; and
- Arum Investments Private Limited.
Ecap International Limited, Mauritius, ceased to be the subsidiary of the Company with effect from April 3, 2014. Edelweiss Financial Advisors Limited ceased to be a subsidiary with effect from December 9, 2014, on merger with Edelweiss Broking Limited, a wholly owned subsidiary of the Company.
STANDALONE
FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30.09.2015
(Rs. In Million)
|
Particulars |
Quarter Ended 30.09.2015 |
Quarter Ended 30.06.2015 |
Half Year Ended 30.09.2015 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Income
from operations |
|
|
|
|
Net sales/ Income from operation (net of excise duty) |
564.600 |
750.500 |
1315.100 |
|
Other operating income |
29.100 |
0.300 |
29.400 |
|
Total
income from Operations(net) |
593.700 |
750.800 |
1344.500 |
|
Expenditure |
|
|
|
|
Employees benefit expenses |
131.200 |
175.700 |
306.900 |
|
Depreciation and amortization expenses |
6.200 |
6.800 |
13.000 |
|
Other expenditure |
99.500 |
129.700 |
229.200 |
|
Total expenses |
236.900 |
312.200 |
549.100 |
|
Profit
from operations before other income and financial costs |
356.800 |
438.600 |
795.400 |
|
Other income |
0.400 |
0.100 |
0.500 |
|
Profit from
ordinary activities before finance costs |
357.200 |
438.700 |
795.900 |
|
Finance costs |
33.300 |
69.900 |
103.200 |
|
Profit from
ordinary activities before tax Expense: |
323.900 |
368.800 |
692.700 |
|
Tax expenses |
38.600 |
73.100 |
111.700 |
|
Net Profit / (Loss)
from ordinary activities after tax |
285.300 |
295.700 |
581.000 |
|
Paid-up equity share capital (Nominal value Re.1/- per share) |
811.200 |
802.600 |
811.200 |
|
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
Earnings per share
of Re.1/- each (not annualized): |
|
|
|
|
Basic |
0.35 |
0.37 |
0.72 |
|
Diluted |
0.34 |
0.35 |
0.69 |
|
A.
Particulars of shareholding |
|
|
|
|
1.
Public Shareholding |
|
|
|
|
- Number of shares |
503856403 |
503893066 |
503856403 |
|
- Percentage of shareholding |
62.11% |
62.78% |
62.11% |
|
2.
Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
147683000 |
160183000 |
147683000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
48.04% |
53.62% |
48.04% |
|
Percentage of shares (as a % of total share capital of the
company) |
18.20% |
19.96% |
18.20% |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
159702690 |
138532690 |
159702690 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
51.96% |
46.38% |
51.96% |
|
Percentage of shares (as a % of total share capital of the
company) |
19.69% |
17.26% |
19.69% |
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
|
NIL |
|
|
Receiving during the quarter |
|
15 |
|
|
Disposed of during the quarter |
|
15 |
|
|
Remaining unreserved at the end of the quarter |
|
NIL |
|
STANDALONE STATEMENT
OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2015
(Rs. In Million)
|
Particulars (Unaudited) |
30.09.2015 |
|
|
|
|
Equity And Liabilities |
|
|
Shareholders’ Funds |
|
|
Share Capital |
811.200 |
|
Reserves and Surplus |
15178.400 |
|
Sub-total Shareholders fund |
15989.600 |
|
Share Application money pending allotment |
18.800 |
|
|
|
|
Non-current liabilities |
|
|
Long term borrowings |
1662.000 |
|
Long term provisions |
37.500 |
|
Sub-total non-current liabilities |
1699.500 |
|
Current liabilities |
|
|
Short term borrowings |
39881.700 |
|
Trade payables |
124.000 |
|
Other current liabilities |
2099.400 |
|
Short term provisions |
488.900 |
|
Sub-total current liabilities |
42594.000 |
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
60301.900 |
|
|
|
|
ASSET |
|
|
Non-current assets |
|
|
Fixed assets |
44.600 |
|
Non-current investment |
14623.000 |
|
Deferred tax assets (net) |
141.700 |
|
Long term loans and advances |
3242.100 |
|
Other non-current assets |
0.300 |
|
Sub-total non-current assets |
18051.700 |
|
Current assets |
|
|
Trade receivables |
533.300 |
|
Cash and Bank balances |
330.100 |
|
Short term loans and advances |
38539.700 |
|
Other current assets |
2847.100 |
|
Sub-total current assets |
42250.200 |
|
|
|
|
TOTAL ASSETS |
60301.900 |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED, UNDER CLAUSE 41 OF
THE LISTING AGREEMENT
(Rs. In Million)
|
Particulars |
Quarter Ended 30.09.2015 |
Quarter Ended 30.06.2015 |
Half Year Ended 30.09.2015 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Segment
Revenue |
|
|
|
|
(Net
Sale/Income) |
|
|
|
|
Chemicals |
978.558 |
836.925 |
1815.483 |
|
Drugs |
847.869 |
755.268 |
1603.137 |
|
Unallocated |
6.769 |
4.116 |
10.885 |
|
Total |
1833.196 |
1596.309 |
3429.505 |
|
Less:
Inter segment revenue |
248.497 |
224.020 |
472.517 |
|
Net
sales/Income from operation |
1584.699 |
1372.289 |
2956.988 |
|
|
|
|
|
|
Segment
Results |
|
|
|
|
Profit(+)/
(Loss) (-) before tax and interest from each segment |
|
|
|
|
Chemicals |
(162.027) |
(171.272) |
(333.299) |
|
Drugs |
163.797 |
118.451 |
282.248 |
|
Total |
1.770 |
(52.821) |
(51.051) |
|
Less: Interest |
154.099 |
145.374 |
299.473 |
|
Less : Other
un-allocable expenditure net of Unallocable income |
(6.077) |
(0.602) |
(6.679) |
|
Total profit /
(Loss) before tax and extraordinary items |
(146.252) |
(197.593) |
(343.845) |
|
|
|
|
|
|
Capital Employed |
|
|
|
|
(Segment Assets –
Segment Liabilities) |
|
|
|
|
Chemicals |
427.339 |
508.223 |
427.339 |
|
Drugs |
1294.442 |
1315.188 |
1294.442 |
|
Unallocated |
103.812 |
117.492 |
103.812 |
|
Total |
1825.593 |
1940.883 |
1825.593 |
Note:
- The financial results for the quarter and half year ended September 30, 2015 of EFSL, on standalone basis, have been subjected to a 'Limited Review' by the Statutory Auditors of the Company and the auditors have issued an unqualified review report.
- The Company conducts its operations along with its subsidiaries and associates. The consolidated financial statements are prepared in accordance with the principles and procedures for the preparation and presentation of consolidated accounts as set out in the Accounting Standards (AS 21 and AS 23) prescribed by Companies (Accounting Standards) Rules. 2015.
- During the quarter ended September 30, 2015, the Company has issued 8,633,337 equity shares of face value of Rs. 1 each to the employees on exercise of employee stock options.
- Agency includes investment banking; Holding Company activities comprise of development, managerial and financial support to the businesses of subsidiaries/associates and investment activities.
- The previous year/period figures have been regrouped/reclassified wherever necessary to conform to current year's/period's presentation.
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.66.51 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KYP |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.