MIRA INFORM REPORT
|
Report No. : |
356727 |
|
Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ICICI HOME FINANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
|
|
Tel. No.: |
91-22-26531414/ 40093480 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
28.05.1999 |
|
|
|
|
Com. Reg. No.: |
11-120106 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10987.500
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65922MH1999PLC120106 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI04738G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI6285N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in
providing financial assistance for specified interest and maturity to person/
persons for the purpose to acquire, construct, erect, improve, extend, alter,
repair, renovate, develop any house, flats or buildings or any form of real
estate or any part or portion thereof and also engaged in providing advisory,
consultancy, broking in property service, sourcing and servicing home loans.
(Registered Activity) |
|
|
|
|
No. of Employees
: |
527 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of ICICI Bank. It is
well-established company having excellent track record. The company possesses sound financial profile evident by healthy
capitalization levels, stable asset quality and comfortable liquidity profile
along with continued support from its parent company in order to manage and
grow its business operations. Management has witnessed a decent revenue as well as net profitability
margin of 20.06% in FY 15. Trade relations are trustworthy. Business is active. Payment terms are
reported as regular and as per commitments. In view of favourable business profile and reputation in the market,
the company can be considered for 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 |
CARE |
|
Rating |
Long Term Rating=AAA |
|
Rating Explanation |
Highest degree of safety and Carry lowest
credit risk |
|
Date |
August, 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 DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-22-33667777/ 26531414) (Continuously Ringing)
LOCATIONS
|
Registered Office : |
ICICI Bank Towers, Bandra-Kurla Complex, Mumbai – 400051, Maharashtra,
India |
|
Tel. No.: |
91-22-26531414/ 40093480 |
|
Fax No.: |
91-22-26531671/ 40093408 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 27.06.2014
|
Name : |
Mr. Rajiv Sabharwal |
|
Designation : |
Nominee director |
|
Address : |
Y-1301, 13th Floor, Callalily Nahar’s Amrit Shakti Off Saki
Vihar Road, Chandivali, Andheri East, Mumbai
- 400072, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
00057333 |
|
|
|
|
Name : |
Mr. Maninder Singh Juneja |
|
Designation : |
Nominee director |
|
Address : |
D - 1002, Mayfair Meridian Ceasar Road, Amboli, Andheri (West),
Mumbai-400058, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1966 |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
02680016 |
|
|
|
|
Name : |
Mr. Dileep Chinubhai Choksi |
|
Designation : |
Director |
|
Address : |
E-7, Sea Face Park, 50, Bhulabhai Desai Road, Mumbai - 400026,
Maharashtra, India |
|
Date of Birth/Age : |
26.12.1949 |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00016322 |
|
|
|
|
Name : |
Mr. Subramaniam Santhanakrishnan |
|
Designation : |
Director |
|
Address : |
Flat G5, Block 2, Prime Terrace 150, |
|
Date of Birth/Age : |
08.11.1944 |
|
Date of Appointment : |
24.07.2008 |
|
DIN No.: |
00005069 |
|
|
|
|
Name : |
Mr. Rohit Manmohan Salhotra |
|
Designation : |
Managing Director |
|
Address : |
703-C, Lokhandwala Residency, E Moses Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
18.07.1966 |
|
Date of Appointment : |
02.05.2012 |
|
DIN No.: |
03580929 |
KEY EXECUTIVES
|
Name : |
Mr. Pratap S. Salian |
|
Designation : |
Secretary |
|
Address : |
Paras Darshan, Modi Patel Street, Bhayander (West),
Mumbai-401101, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
11.04.2011 |
|
PAN No.: |
AQUPS7901E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
ICICI Bank Limited |
|
1098748900 |
|
# ICICI Securities Limited |
|
500 |
|
# ICICI Venture Funds Management Company
Limited |
|
100 |
|
# ICICI Investment Management Company
Limited |
|
100 |
|
# ICICI Lombard General Insurance Company
Limited |
|
100 |
|
# ICICI Trusteeship Services Limited |
|
100 |
|
# ICICI Securities Primary Dealership
Limited |
|
100 |
|
# ICICI Securities Limited |
|
100 |
|
Total |
|
1098750000 |
# - Beneficial interest on the above shares
are held by ICICI Bank Limited
AS ON 27.06.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Nationalised or other banks |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in providing financial assistance for specified interest and maturity
to person/ persons for the purpose to acquire, construct, erect, improve,
extend, alter, repair, renovate, develop any house, flats or buildings or any
form of real estate or any part or portion thereof and also engaged in
providing advisory, consultancy, broking in property service, sourcing and
servicing home loans. (Registered Activity) |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
527 (Approximately) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited |
||||||||||||||||||||||
|
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· IDBI Trusteeship Services Limited Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(East), Mumbai-400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
ICICI
Bank Limited, India (L65190GJ1994PLC021012) |
|
|
|
|
Fellow Subsidiaries
: |
· ICICI Securities Limited · ICICI Securities Primary Dealership Limited · ICICI Prudential Life Insurance Company Limited · ICICI Lombard General Insurance Company Limited · ICICI Securities Inc. · ICICI Securities Holdings Inc. · ICICI Venture Funds Management Company Limited · ICICI Trusteeship Services Limited · ICICI Investment Management Company Limited · ICICI International Limited · ICICI Bank UK PLC · ICICI Bank Canada · ICICI Bank Eurasia LLC. · ICICI Eco-net Internet and Technology Fund (up to 30.12.2013) · ICICI Equity Fund · ICICI Emerging Sectors Fund (up to 31.12.2013) · ICICI Strategic Investments Fund · ICICI Prudential Asset Management Company Limited · ICICI Prudential Trust Limited · TCW/ICICI Investment Partners Limited (up to 30.06.2013) · ICICI Kinfra Limited · ICICI Prudential Pension Funds Management Company Limited · ICICI Venture Value Fund (IVVF) (up to 30.09.2013) · I-Ven Biotech Limited |
|
|
|
|
Associates Companies : |
· ICICI Foundation for Inclusive Growth · India Infra Debt Limited ·
I Process Services (India) Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2385000000 |
Equity Shares |
Rs.10/- each |
Rs. 23850.000 Million |
|
15000000 |
Preferences Shares |
Rs.10/- each |
Rs. 150.000 Million |
|
|
TOTAL
|
|
Rs. 24000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1098750000 |
Equity Shares |
Rs.10/- each
|
Rs.10987.500
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 |
10987.500 |
10987.500 |
10987.500 |
|
(b) Reserves & Surplus |
3929.100 |
4221.800 |
3658.300 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
14916.600 |
15209.300 |
14645.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
39707.300 |
39956.300 |
38686.700 |
|
(b) Deferred tax liabilities (Net) |
262.800 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
51.900 |
180.600 |
335.600 |
|
(d)
long-term provisions |
1509.400 |
1471.100 |
1441.700 |
|
Total
Non-current Liabilities (3) |
41531.400 |
41608.000 |
40464.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
7783.200 |
4645.000 |
1950.900 |
|
(b)
Trade payables |
192.200 |
237.100 |
181.100 |
|
(c)
Other current liabilities |
18299.300 |
10339.900 |
14526.900 |
|
(d)
Short-term provisions |
268.600 |
536.100 |
256.200 |
|
Total
Current Liabilities (4) |
26543.300 |
15758.100 |
16915.100 |
|
|
|
|
|
|
TOTAL |
82991.300 |
72575.400 |
72024.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
583.500 |
589.700 |
599.900 |
|
(ii)
Intangible Assets |
2.400 |
3.000 |
6.000 |
|
(iii)
Capital work-in-progress |
11.000 |
12.800 |
1.100 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1984.300 |
2108.000 |
2332.300 |
|
(c) Deferred tax assets
(net) |
0.000 |
511.100 |
472.900 |
|
(d) Long-term Loan
and Advances |
68896.600 |
59687.200 |
59666.600 |
|
(e)
Other Non-current assets |
200.000 |
5.900 |
16.200 |
|
Total
Non-Current Assets |
71677.800 |
62917.700 |
63095.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
736.700 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
103.000 |
100.700 |
138.000 |
|
(d)
Cash and cash equivalents |
2052.600 |
1943.700 |
1338.200 |
|
(e)
Short-term loans and advances |
8562.100 |
7081.600 |
6090.600 |
|
(f)
Other current assets |
595.800 |
531.700 |
626.400 |
|
Total
Current Assets |
11313.500 |
9657.700 |
8929.900 |
|
|
|
|
|
|
TOTAL |
82991.300 |
72575.400 |
72024.900 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
9841.400 |
9230.300 |
9145.000 |
|
|
|
Other Income |
35.900 |
126.900 |
108.000 |
|
|
|
TOTAL (A) |
9877.300 |
9357.200 |
9253.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
387.600 |
347.500 |
310.400 |
|
|
|
Establishment and Other Expenses |
726.200 |
570.600 |
508.900 |
|
|
|
Expenses Recovered |
(21.100) |
(17.100) |
(16.900) |
|
|
|
Provision/ Write offs (net) |
62.400 |
39.400 |
76.200 |
|
|
|
TOTAL (B) |
1155.100 |
940.400 |
878.600 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8722.200 |
8416.800 |
8374.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5743.000 |
5288.300 |
5326.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2979.200 |
3128.500 |
3047.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.400 |
18.500 |
19.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2956.800 |
3110.000 |
3028.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
981.100 |
881.800 |
826.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1975.700 |
2228.200 |
2202.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
1.80 |
2.03 |
2.00 |
|
|
|
Diluted |
1.80 |
2.03 |
2.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
|
|
|
Secured |
2056.900 |
0.000 |
2000.000 |
|
Unsecured |
14545.600 |
8728.200 |
10766.600 |
|
Total |
16602.500 |
8728.200 |
12766.600 |
|
|
|
|
|
|
Cash Generated from Operations |
(8021.800) |
1334.600 |
3448.500 |
|
|
|
|
|
|
Net Cash from Operating Activities |
(9021.300) |
719.600 |
2526.500 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
20.08 |
24.14 |
24.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
88.63 |
91.19 |
91.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.65 |
4.45 |
4.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.20 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.30 |
3.51 |
3.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.43 |
0.61 |
0.53 |
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 |
10987.500 |
10987.500 |
10987.500 |
|
Reserves & Surplus |
3658.300 |
4221.800 |
3929.100 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
14645.800 |
15209.300 |
14916.600 |
|
|
|
|
|
|
Long-term borrowings |
38686.700 |
39956.300 |
39707.300 |
|
Short term borrowings |
1950.900 |
4645.000 |
7783.200 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
12766.600 |
8728.200 |
16602.500 |
|
Total
borrowings |
53404.200 |
53329.500 |
64093.000 |
|
Debt/Equity
ratio |
3.646 |
3.506 |
4.297 |
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 |
9145.000 |
9230.300 |
9841.400 |
|
|
|
0.933 |
6.621 |
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 |
9145.000 |
9230.300 |
9841.400 |
|
Profit |
2202.200 |
2228.200 |
1975.700 |
|
|
24.08% |
24.14% |
20.08% |
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10529240 |
30/09/2014 |
10,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND FLOOR,
17, R. KAMANI MARG, |
C30544555 |
|
2 |
10207534 |
21/01/2010 |
4,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BLDG., GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A79415154 |
|
3 |
10159224 |
20/05/2009 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BLDG., GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI- 400 001, MAHARASHTRA - 400001,
INDIA |
A62831706 |
|
4 |
10142556 |
05/12/2008 |
1,800,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BLDG., GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI- 400 001, MAHARASHTRA - 400001,
INDIA |
A52652872 |
|
5 |
10063486 |
10/08/2009 * |
3,116,900,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BLDG., GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A67710525 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Debenture
/ Bonds |
|
|
|
Debentures / Bond –
private placement |
2640.000 |
3150.000 |
|
Debenture / Bond –
subordinate debt private placement |
2573.000 |
2573.000 |
|
Debenture
/ Bonds - ZCB |
850.000 |
3490.000 |
|
Add: Premium accrued on
redemption (net
of unamortized discount) |
157.400 |
93.700 |
|
|
|
|
|
Term loans Loans from banks |
9634.400 |
12384.000 |
|
|
|
|
|
Deposits Fixed deposits including unclaimed fixed deposits |
1196.500 |
1565.300 |
|
|
|
|
|
Loans and
advances from related parties |
|
|
|
Loans from holding company - subordinated debts |
0.000 |
676.300 |
|
Loans from holding company – other loans |
5848.000 |
7224.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Fixed Deposit |
63.000 |
24.600 |
|
Commercial Paper |
6750.000 |
4250.000 |
|
Less : Unamortised interest |
(303.400) |
(170.200) |
|
Loans from holding company (Overdraft) |
1273.600 |
540.600 |
|
|
|
|
|
Total |
30682.500 |
35801.300 |
CORPORATE INFORMATION
ICICI Home Finance Company Limited
(the Company) is a public company domiciled in India and incorporated under the
provisions of the Companies Act, 1956. The Company is engaged in providing
financial assistance for specified interest and maturity to person/ persons for
the purpose to acquire, construct, erect, improve, extend, alter, repair,
renovate, develop any house, flats or buildings or any form of real estate or
any part or portion thereof. The Company is also providing financial assistance
to any person for specified purpose against the security of any immovable
property. The Company is also engaged in providing advisory, consultancy,
broking in property service, sourcing and servicing home loans.
BUSINESS REVIEW/STATE OF
THE COMPANY’S AFFAIRS
MARKET OVERVIEW
The mortgage market
continues to grow, especially in Tier III and IV cities, driven by primary
consumption. This has led to increased focus by most organized lenders into
these markets. Absorption and supply in such markets is balanced leading to
stable prices. Their Company continues to focus on these emerging markets,
which provide a reasonable growth opportunity. We will continue to invest and
build distribution and organisational capabilities and offer mortgage related
products and services in this markets.
OPERATIONAL REVIEW
They have in the course of
the year achieved reasonable traction in retail mortgages and construction
finance business. Supported by a strong growth of 73% in retail mortgages
business, the loan assets of the Company grew to Rs. 77,074.400 million during
the year. The Property Services and Mortgage valuation groups have sustained
their growth momentum, contributing 19% of the total operating income of the
Company. The Company continues to stay committed and focused on partnering the
developers and end consumers at all stages of the Real Estate Value chain.
CONTINGENT
LIABILITIES (AS ON 31.03.2015):
(a)
Contingent liabilities
The Company is involved in
various litigations, aggregating to Rs. 4,045.800 millions (Rs. 2,808.800 as
March 31, 2014) the outcome of which are considered possible and probable as at
March 31, 2015. In respect of obligations which are considered probable, the
company has made provision of Rs. 3,519.300 millions ( Rs. 2,477.900 as March
31, 2014) and for obligation which are possible, the contingent liabilities are
as follows:
(i)
Income tax matters in appeal – Rs. 517.100 million (March 2014 – Rs. 315.100
million)
(ii)
Service tax matters in appeal – Rs. 0.700 million (March 2014 – Rs. 0.700
million)
(iii) The contingent
liability on account of claims filed against the company not acknowledged as
debt is Rs. 8.700 million (March 2014 – Rs. 15.100 million).
(vi)
As per management, the company has good chances of winning the cases
accordingly no provision for any liability has been made in the financial
statement.
FIXED ASSETS:
Tangible Assets
· Office Building
· Improvements to Leasehold Property
· Computers
· Office Equipments
· Furniture and Fixtures
Intangible Asset
· Software
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. 66.20 |
|
|
1 |
Rs. 98.30 |
|
Euro |
1 |
Rs. 72.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
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 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
73 |
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.