MIRA INFORM REPORT
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Report No. : |
353260.2 |
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Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
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Name : |
L&T INVESTMENT MANAGEMENT LIMITED (15.02.2010) |
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Formerly Known
As : |
DBS
CHOLAMANDALAM ASSET MANAGEMENT LIMITED CHOLAMANDALAM
CAZENOVE AMC LIMITED |
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Registered
Office : |
L&T House, Ballard Estate, P. O. Box 278, Mumbai - 400001, Maharashtra |
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Tel. No.: |
91-22-66554000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
25.04.1996 |
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Com. Reg. No.: |
11-229572 |
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Capital
Investment / Paid-up Capital : |
Rs.2408.754 Million |
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CIN No.: [Company Identification
No.] |
U65991MH1996PLC229572 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCC5819R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject principal activity is to act as an investment manager to L&T Mutual Fund (the "Fund") and to provide Portfolio Management Services ("PMS") to clients under Securities and Exchange Board of India ("SEBI") (Portfolio Managers) Regulations, 1993. (Registered Activity) |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Aaa (87) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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Status : |
Excellent Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
L&T Investment Management Limited is the investment manager of L&T Mutual Fund, is sponsored by L&T Finance Holdings Ltd. L&T Finance Holdings Limited is the flagship holding company of the financial services business of the L&T group. “Larsen & Tourbro Limited” is the ultimate parent of L&T Investment Management Limited. The rating factors on company’s significant growth into its income from its previous FY-14 marked by above average financial profile, strong capital structure along with zero debt balance sheet. Company receives sponsorship from L&T Finance Holdings Ltd. and the experience of the fund management team, as well as strong support in form of financial, managerial and technical from its ultimate holding company. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. In view of aforesaid, the subject 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Short term bank
facility = A1+ |
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Rating Explanation |
Very strong degree
of safety and carry lowest credit risk. |
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Date |
March 11, 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 BY
|
Name : |
Mr. Sandeep Somani |
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Designation : |
Chief Financial Officer |
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Contact No.: |
91-22-66554000 |
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Date : |
08.12.2015 |
LOCATIONS
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Registered Office : |
L&T House, Ballard Estate, P. O. Box 278, Mumbai - 400001, Maharashtra, India |
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Tel. No.: |
91-22-66554000 |
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Fax No.: |
91-22-66554002 |
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E-Mail : |
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Website : |
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Head / Corporate Office : |
6th Floor, Brindavan, Plot No 177, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India |
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CAMS Service
Centers : |
Located At :
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Collection Centre : |
Located At:
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TP Lite : |
Located At :
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Official Points of Acceptance : |
Locate At :
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Sales Branches : |
Located At :
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DIRECTORS
As on 23.07.2014
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Name : |
Mr. Ramamurthi Shankar Raman |
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Designation : |
Director |
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Address : |
Room No. 123, 12th Floor, Kalpataru Royale, Plot No.110, Road No. 29, SION (East), Mumbai - 400022, Maharashtra, INDIA |
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Date of Birth/Age : |
20.12.1958 |
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Date of Appointment : |
20.01.2010 |
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DIN No.: |
00019798 |
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Name : |
Mr. Hayagreeva Ravikumar Puranam |
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Designation : |
Director |
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Address : |
501 Yashowan Towers, Behind Mahim Post Office, T. H. Kataria Marg, Mahim - West, Mumbai - 400016, Maharashtra, India |
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Date of Birth/Age : |
20.07.1951 |
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Date of Appointment : |
17.04.2013 |
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DIN No.: |
00280010 |
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Name : |
Mr. Vishwanathan Mavila Nair |
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Designation : |
Director |
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Address : |
1902, A Wing, Vivarea Building, Hindustan Mills, Comp, Saatrasta, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
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Date of Birth/Age : |
03.03.1952 |
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Date of Appointment : |
01.04.2013 |
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DIN No.: |
02284165 |
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Name : |
Mr. Raji Vishwanathan |
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Designation : |
Director |
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Address : |
701, 'B', Swastik Plaza, Swastik Park, Chembur, Mumbai - 400071, Maharashtra, India |
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Date of Birth/Age : |
23.05.1959 |
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Date of Appointment : |
31.03.2015 |
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DIN No.: |
02680148 |
KEY EXECUTIVES
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Name : |
Mr. Kailash Vasudeo Kulkarni |
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Designation : |
Chief Executive Officer |
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Address : |
A-203, Paradise, Raheja Vihar, Off Chandivali, Farm Road, Chandivali, Andheri (East), Mumbai - 400072, Maharashtra, India |
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Date of Appointment : |
01.06.2015 |
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PAN No.: |
AAJPK7900J |
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Name : |
Mr. Apurva Neeraj Rathod |
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Designation : |
Company Secretary |
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Address : |
42/D, Mangal Karini Society, 17, Siddharth Nagar, Goregaon (West), Mumbai - 400062, Maharashtra, India |
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Date of Appointment : |
01.09.2015 |
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PAN No.: |
AEVPJ3643P |
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Name : |
Mr. Sandeep Somani |
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Designation : |
Chief Financial Officer |
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Address : |
1/C- 603 Hdil Dreams, LBS Marg, Bhandup (West), Mumbai - 400078, Maharashtra, India |
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Date of Appointment : |
21.10.2015 |
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PAN No.: |
BBTPS4835A |
MAJOR SHAREHOLDERS
As on 23.07.2014
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Names of Shareholders |
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No. of Shares |
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Y. M. Deosthalee and L&T Finance Holding Limited, India |
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02 |
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R. Shankar Raman and L&T Finance Holding Limited, India |
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01 |
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N. Sivaraman and L&T Finance Holding Limited, India |
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01 |
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V. J. Shukla and L&T Finance Holding Limited, India |
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01 |
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N. Hariharan and L&T Finance Holding Limited, India |
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01 |
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Subhodh Shetty and L&T Finance Holding Limited, India |
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01 |
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L&T Finance Holding Limited, India |
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240875438 |
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Total |
|
240875445 |
As on 05.06.2015
|
Names of Allottee |
|
No. of Shares
Allotted |
|
L&T Finance Holding Limited, India |
|
10948884 |
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Total |
|
10948884 |
As on 23.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
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Total |
100.00 |
%2009-Dec-2015_files/image013.gif)
BUSINESS DETAILS
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Line of Business : |
Subject principal activity is to act as an investment manager to L&T Mutual Fund (the "Fund") and to provide Portfolio Management Services ("PMS") to clients under Securities and Exchange Board of India ("SEBI") (Portfolio Managers) Regulations, 1993. (Registered Activity) |
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Products : |
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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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Auditors : |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Fellow Subsidiary
company : |
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Ultimate Holding
company : |
Larsen And Toubro Limited |
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Holding company : |
L and T Finance Holdings Limited |
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Subsidiary company
: |
L and T Fund Management Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
551257920 |
Equity Shares |
Rs.10/- each |
Rs. 5512.579 Million |
|
3300000 |
Compulsory Convertible Preference Shares |
Rs. 10/- each |
Rs. 330.000 Million |
|
22000000 |
Non-Convertible Preference Shares |
Rs. 100/- each |
Rs. 2200.000 Million |
|
650000000 |
Non-Convertible Preference Shares |
Rs. 10/- each |
Rs. 6500.000 Million |
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Total |
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Rs. 14542.579
Million |
Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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|
240875445 |
Equity Shares |
Rs.10/- each |
Rs. 2408.754
Million |
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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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
2408.754 |
2358.572 |
2358.572 |
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(b) Reserves & Surplus |
2522.028 |
3175.882 |
4123.387 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
4930.782 |
5534.454 |
6481.959 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
500.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
1.112 |
23.740 |
25.635 |
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(d) long-term
provisions |
13.220 |
6.305 |
9.806 |
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Total Non-current
Liabilities (3) |
14.332 |
530.045 |
35.441 |
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(4)
Current Liabilities |
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(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade
payables |
178.756 |
137.743 |
176.743 |
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(c) Other
current liabilities |
553.150 |
67.013 |
162.367 |
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(d) Short-term
provisions |
20.827 |
13.896 |
11.393 |
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Total Current
Liabilities (4) |
752.733 |
218.652 |
350.503 |
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TOTAL |
5697.847 |
6283.151 |
6867.903 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
24.442 |
48.589 |
11.796 |
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(ii) Intangible
Assets |
4321.294 |
5030.517 |
17.346 |
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(iii)
Capital work-in-progress |
0.193 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.837 |
4.566 |
0.000 |
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(b) Non-current Investments |
15.500 |
0.000 |
6314.082 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
424.851 |
319.456 |
96.124 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current
Assets |
4787.117 |
5403.128 |
6439.348 |
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(2)
Current assets |
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(a)
Current investments |
300.013 |
685.000 |
256.396 |
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(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
93.025 |
48.594 |
77.200 |
|
(d) Cash
and cash equivalents |
14.602 |
19.424 |
34.992 |
|
(e) Short-term
loans and advances |
503.090 |
127.005 |
59.967 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
910.730 |
880.023 |
428.555 |
|
|
|
|
|
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TOTAL |
5697.847 |
6283.151 |
6867.903 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
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SALES |
|
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Income |
1265.125 |
858.993 |
330.616 |
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Other Income |
49.866 |
49.144 |
12.062 |
|
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TOTAL |
1314.991 |
908.137 |
342.678 |
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|
Less |
EXPENSES |
|
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|
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Employees benefits expense |
516.223 |
480.605 |
309.311 |
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Other expenses |
691.598 |
405.823 |
472.548 |
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Exceptional items before tax |
0.000 |
0.000 |
139.308 |
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TOTAL |
1207.821 |
886.428 |
921.167 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
107.170 |
21.709 |
(578.489) |
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|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
107.170 |
21.709 |
(578.489) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
755.922 |
720.906 |
6.434 |
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PROFIT/ (LOSS)
BEFORE TAX |
(648.752) |
(699.197) |
(584.923) |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT/ (LOSS)
AFTER TAX |
(648.752) |
(699.197) |
(584.923) |
|
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|
|
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|
|
Earnings Per
Share (Rs.) |
(2.70) |
(2.96) |
(3.17) |
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 |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(497.785) |
(153.575) |
(384.288) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(51.28) |
(81.40) |
(176.92) |
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Operating Profit Margin (PBIDT/Sales) |
(%) |
8.47 |
2.53 |
(174.97) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(11.42) |
(11.14) |
(105.62) |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.13) |
(0.13) |
(0.09) |
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Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.09 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
1.21 |
4.02 |
1.22 |
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 |
2358.572 |
2358.572 |
2408.754 |
|
Reserves & Surplus |
4123.387 |
3175.882 |
2522.028 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6481.959 |
5534.454 |
4930.782 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
500.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
500.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.090 |
0.000 |
%2009-Dec-2015_files/image015.gif)
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 |
330.616 |
858.993 |
1265.125 |
|
|
|
159.816 |
47.280 |
%2009-Dec-2015_files/image017.gif)
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 |
330.616 |
858.993 |
1265.125 |
|
Profit |
(584.923) |
(699.197) |
(648.752) |
|
|
(176.92%) |
(81.40%) |
(51.28%) |
%2009-Dec-2015_files/image019.gif)
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from Darehouse No. 2, N.S.C. Bose Road, Parrys, Chennai – 600001,
Tamilnadu, India to the present address w.e.f.
26.10.2010.
BACKGROUND
Subject is a public company domiciled in India. The principal shareholder of the Company as at 31st March, 2015 is L&T Finance Holdings Limited. The Company’s principal activity is to act as an investment manager to L&T Mutual Fund (the "Fund") and to provide Portfolio Management Services ("PMS") to clients under Securities and Exchange Board of India ("SEBI") (Portfolio Managers) Regulations, 1993. The Company is registered with Securities and Exchange Board of India ("SEBI") under the SEBI (Mutual Funds) Regulations, 1996 (the "SEBI" regulation). The Company manages the investment portfolios of the Fund and provides various administrative services to the Fund as laid down in the Investment Management Agreement dated 23rd October, 1996.
FINANCIAL
RESULTS/HIGHLIGHTS
The point of highlight is that the Company has reported a business profit of Rs. 54.528 Million during the financial year 2014-2015 before amortization of the intangible assets. The net worth of the Company has increased from Rs. 499.371 Million as at March 31, 2014 to Rs. 608.651 Million as at March 31, 2015 with increase in operating profits and issue of share capital to the holding company.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from others |
0.000 |
500.00 |
|
Total |
0.000 |
500.00 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and
Fixture
- Vehicles
- Computer
Equipments
- Leasehold
Improvement
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 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. 66.80 |
|
UK Pound |
1 |
Rs. 100.49 |
|
Euro |
1 |
Rs. 72.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO / PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
10 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
10 |
|
--LIQUIDITY |
1~10 |
10 |
|
--LEVERAGE |
1~10 |
10 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
87 |
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.