MIRA
INFORM REPORT
|
Report No. : |
307787 |
|
Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BIRLA SUN LIFE ASSET MANAGEMENT COMPANY LIMITED |
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|
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|
Registered
Office : |
One |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.09.1994 |
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Com. Reg. No.: |
11-080811 |
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Capital
Investment / Paid-up Capital : |
Rs. 180.000 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U65991MH1994PLC080811 |
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|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB05956G |
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PAN No.: [Permanent Account No.] |
AAACB6134D |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Asset Management and Portfolio Management Service. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established asset management company having good
track record. Financial position of the company is sound. Fundamentals of the
company are strong and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered normal 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 |
ICRA |
|
Rating |
Birla Floating Rate : Short Term Plan :
AAAmfs |
|
Rating Explanation |
Highest credit quality and lowest credit
risk. |
|
Date |
April 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Birla Cash Plus Fund : A1+mfs |
|
Rating Explanation |
Highest credit quality and lowest credit
risk. |
|
Date |
April 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-43568000]
LOCATIONS
|
Registered Office : |
One India Bulls, Tower 1, 17th Floor, Jupiter Mills
Compound, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013,
Maharashtra, India |
|
Tel. No.: |
91-22-43568009/ 43568000 |
|
Fax No.: |
91-22-43568110 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Donald Alexander Stewart |
|
Designation : |
Director |
|
Address : |
Sun Life Financial Services Inc., 150, King Street West, 6th Floor, Toronto, Onm5hij9, Canada |
|
Date of Birth/Age : |
06.11.1946 |
|
Qualification : |
FIA, FCIA |
|
Date of Appointment : |
29.09.2000 |
|
DIN No.: |
00438164 |
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|
|
|
Name : |
Mr. Kumar Mangalam Birla |
|
Designation : |
Director |
|
Qualification : |
C.A., M.B.A. (London Business School) |
|
Date of Appointment : |
28.10.1995 |
|
DIN No.: |
00012813 |
|
|
|
|
Name : |
Mr. Ajay Srinivasan |
|
Designation : |
Director |
|
Address : |
91 / 901, Narain Tarraces, 7TH , 8TH Floor, Union Park Road, Pali Hill, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1963 |
|
Qualification : |
B.A. Economics (Hons.), PGDM, IIM – Ahmedabad |
|
Date of Appointment : |
02.08.2007 |
|
DIN No.: |
00121181 |
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|
|
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Name : |
Mr. Pankaj Jawaharlal Razdan |
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Designation : |
Director |
|
Address : |
Sherwin Ark, Bungalow No. 3, Bellscot CHS Lokhandwala Complex, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1968 |
|
Qualification : |
B. Tech (Electronics), B. S C (Electronics) |
|
Date of Appointment : |
21.10.2009 |
|
DIN No.: |
00061240 |
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|
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|
Name : |
Mr. Navalkishor Naginlal Jambusaria |
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Designation : |
Director |
|
Address : |
401, Bakers Field, A – 22, Shastri Nagar, Near Lokhandwala Complex,
Andheri, Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1933 |
|
Qualification : |
M. Com, Fellow of the Institute of Actuaries, London, F.A.S.I. (Fellow
of the Actuarial Society of India) |
|
Date of Appointment : |
19.06.2001 |
|
DIN No.: |
00055760 |
|
|
|
|
Name : |
Mr. Sandeep Asthana |
|
Designation : |
Director |
|
Address : |
A - 403, Golden Oak, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
16.04.1968 |
|
Qualification : |
B. Tech (IIT, Mumbai), MBA (IIM, Lucknow) |
|
Date of Appointment : |
27.04.2011 |
|
DIN No.: |
00401858 |
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|
|
|
Name : |
Mr. Naresh Chand Singhal |
|
Designation : |
Director |
|
Address : |
D-107, Poornima, Pedder Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1936 |
|
Qualification : |
Post Graduate in Economics, Statistics and Administration, Has
received professional education from institutes like IIM (Ahmedabad,
Calcutta), IIT Kanpur, and ISI Calcutta |
|
Date of Appointment : |
20.05.2002 |
|
DIN No.: |
00004916 |
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|
|
|
Name : |
Mr. Bobby Kanubhai Parikh |
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Designation : |
Director |
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Address : |
4, Seven on the Hill, Auxilium Convent Road, Pali Hill, Bandra (West),
Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
30.04.1964 |
|
Qualification : |
B.Com, C.A. |
|
Date of Appointment : |
03.02.2012 |
|
DIN No.: |
00019437 |
|
|
|
|
Name : |
Mr. Sundara Raman Subramaniam |
|
Designation : |
Director |
|
Address : |
304, Cypress, Marigold Premises, Kalyan Nager, Pune – 411014,
Maharashtra, India |
|
Date of Birth/Age : |
30.06.1937 |
|
Qualification : |
B.Com (Hons.), C. A. , Post Graduate in Business Management |
|
Date of Appointment : |
15.11.1999 |
|
DIN No.: |
00308407 |
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|
|
|
Name : |
Mr. Vaidyanathan Ramamurthy |
|
Designation : |
Director |
|
Address : |
226, Panduranga Nagar, Bannerghatta Road, Bangalore – 560076,
Karnataka, India |
|
Date of Birth/Age : |
21.12.1951 |
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Qualification : |
M. Stat, PhD in Finance |
|
Date of Appointment : |
21.10.2009 |
|
DIN No.: |
00221577 |
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|
|
|
Name : |
Mr. Kevin David Strain |
|
Designation : |
Director |
|
Address : |
180, Watson Ave, Oakville, Ontario, Canada – L6A 3T8 |
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Date of Birth/Age : |
31.08.1966 |
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Date of Appointment : |
28.04.2012 |
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DIN No.: |
05262340 |
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|
Name : |
Mr. Bharat Vithalbhai Patel |
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Designation : |
Director |
|
Address : |
52, Mlami Apartments, Bhulabhai Desai Road, Breach Candy, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1944 |
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Date of Appointment : |
27.06.2012 |
|
DIN No.: |
00060998 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Rajghor |
|
Designation : |
Deputy Finance Manager |
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|
Name : |
Mr. Rajiv Vinodchandra Joshi |
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Designation : |
Secretary |
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Address : |
A/6, Jeevan Sudha, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
07.05.1963 |
|
Date of Appointment : |
25.04.2008 |
|
PAN No.: |
AACPJ1462H |
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|
Name : |
Mr. A Balasubramanian |
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Designation : |
Chief Executive Officer |
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|
Name : |
Mr. Parag Joglekar
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|
Designation : |
Head - Finance and Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
Aditya Birla Financial Services Private Limited and its Nominees |
|
9179980 |
|
Sun Life (India) AMC Investment Inc Canada |
|
8820000 |
BUSINESS DETAILS
|
Line of Business : |
Providing Asset Management and Portfolio Management Service. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
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 : |
Not Available |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
701, Leela Business Park, Andheri Kurla
Road, Andheri (East), Mumbai - 400059,
Maharashtra, India |
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Tel. No.: |
91-22-61326999/ 66729999 |
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Fax No.: |
91-22-22856237/ 66729777 |
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E-Mail : |
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PAN No.: |
AAAFH2010F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Parties Where Control Exist (Subsidiaries) : |
·
India Advantage Fund Limited Birla Sun Life AMC (Mauritius)
Limited Aditya Birla Sun Life AMC
Limited, Dubai Aditya Birla Sun Life AMC Pte.
Limited, Singapore |
|
|
|
|
Ultimate Holding Company : |
Aditva Birla Nuvo Limited |
|
|
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Holding Company : |
Aditya Birla Financial Services Private Limited |
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Other Related Party : |
Sun Life (India) AMC Investments Inc; Canada |
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Fellow Subsidiaries of Ultimate Holding Company : |
·
Birla Sun Life Insurance Company Limited Birla Sun Life Trustee Company
Private Limited Aditva Birla Money Mart Limited
ABNL Investment Limited Aditya Birla Finance Limited Aditya Birla Money Limited Aditya Birla Financial Shared
Services Limited Aditya Birla Minacs Worldwide
Limited Aditya Birla Money Insurance
Advisory Services Limited Aditya Birla Customer Services
Private Limited IDEA Cellular Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 180.000
Millions |
|
|
|
|
|
Term/right attached to equity shares:
The company has only one class of equity
shares having a per value of Rs. 10 per share. Each holder of equity shares is one
vote per share. The company declares and pays dividend in Indian rupees. Any
proposed Dividend by the Board of Directors is subject to the approval of the
shareholders in the ensuring Annual General Meeting.
In the event of liquidation of the company,
the holders of the equity shares will be entitled to receive the remaining
assets of the company after distributions of all preferential amounts. However,
no such preferential amount exist currently. The distribution will be in the
proportion to the number of equity shares held by the shareholders.
Reconciliation of the shares outstanding at the beginning and at the end
of the period.
|
Particulars |
31.03.2014 |
|
|
No of Shares |
Rs. In Millions |
|
|
No. of shares outstanding at the beginning of
the period |
18000000 |
180.000 |
|
Issued during the period |
-- |
-- |
|
No. of shares outstanding at the end of the period |
18000000 |
180.000 |
Shares in the company held by each shareholder holding more than 5 percent
shares specifying the number of shares held.
|
Particulars |
31.03.2014 |
|
|
No of Shares |
% of total
paid-up equity shares capital |
|
|
Aditya Birla Financial Services Private Limited and its Nominees |
9179980 |
50.99 % |
|
Sun Life (India) AMC Investment Inc Canada |
8820000 |
49.00 % |
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
180.000 |
180.000 |
180.000 |
|
(b) Reserves & Surplus |
4763.276 |
3706.881 |
2833.792 |
|
(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) |
4943.276 |
3886.881 |
3013.792 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
11.190 |
10.634 |
62.567 |
|
(d) long-term provisions |
0.000 |
4.207 |
43.407 |
|
Total Non-current Liabilities (3) |
11.190 |
14.841 |
105.974 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
199.218 |
547.841 |
472.453 |
|
(c) Other current
liabilities |
484.197 |
99.109 |
34.716 |
|
(d) Short-term provisions |
375.283 |
426.586 |
287.621 |
|
Total Current Liabilities (4) |
1058.698 |
1073.536 |
794.790 |
|
|
|
|
|
|
TOTAL |
6013.164 |
4975.258 |
3914.556 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
52.691 |
78.611 |
95.691 |
|
(ii) Intangible Assets |
87.332 |
138.919 |
193.086 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
16.819 |
4.409 |
0.000 |
|
(b) Non-current Investments |
1053.340 |
426.171 |
573.480 |
|
(c) Deferred tax assets (net) |
44.664 |
28.685 |
29.260 |
|
(d) Long-term Loan and Advances |
1082.782 |
393.071 |
1046.762 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2337.628 |
1069.866 |
1938.279 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2765.930 |
2128.682 |
1133.269 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
134.372 |
139.464 |
76.801 |
|
(d) Cash and cash
equivalents |
24.302 |
40.658 |
45.466 |
|
(e) Short-term loans and
advances |
644.724 |
1147.163 |
370.394 |
|
(f) Other current assets |
106.208 |
449.425 |
350.347 |
|
Total Current Assets |
3675.536 |
3905.392 |
1976.277 |
|
|
|
|
|
|
TOTAL |
6013.164 |
4975.258 |
3914.556 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4886.060 |
3963.896 |
3073.508 |
|
|
|
Other Income |
252.868 |
386.631 |
419.764 |
|
|
|
TOTAL (A) |
5138.928 |
4350.527 |
3493.272 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
1100.155 |
980.322 |
808.296 |
|
|
|
Administrative and other expenses |
621.589 |
612.119 |
614.914 |
|
|
|
Scheme Expenses |
1802.101 |
1433.705 |
882.146 |
|
|
|
TOTAL (B) |
3523.845 |
3026.146 |
2305.356 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
1615.083 |
1324.381 |
1187.916 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
6.495 |
1.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1615.083 |
1317.886 |
1186.034 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
102.815 |
104.189 |
124.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1512.268 |
1213.697 |
1061.726 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
455.873 |
340.609 |
298.627 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1056.395 |
873.088 |
763.099 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3611.791 |
2738.703 |
1975.604 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4668.186 |
3611.791 |
2738.703 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
58.69 |
48.50 |
42.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
21.62
|
22.03 |
24.83 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
33.05
|
33.42 |
38.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.87 |
26.88 |
32.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.31 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.47 |
3.64 |
2.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
180.000 |
180.000 |
180.000 |
|
Reserves & Surplus |
2833.792 |
3706.881 |
4763.276 |
|
Net
worth |
3013.792 |
3886.881 |
4943.276 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3073.508 |
3963.896 |
4886.060 |
|
|
|
28.970 |
23.264 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3073.508 |
3963.896 |
4886.060 |
|
Profit |
763.099 |
873.088 |
1056.395 |
|
|
24.83% |
22.03% |
21.62% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT
MATURITY LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
------------ |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
------------ |
|
22] |
Litigations
that the firm / promoter involved in |
Yes |
|
23] |
Banking
Details |
No |
|
24] |
Banking facility
details |
No |
|
25] |
Conduct of
the banking account |
----------- |
|
26] |
Buyer visit
details |
----------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
COMPANY OVERVIEW
Birla Sun Life Assets Management Company
Limited (the company) was incorporated on September 5, 1994. The Company is a joint
venture between the Aditya Birla Group and Sun Life Financial Inc. The share
capital of the company is owned by Aditya Birla Financial Services Private
Limited (Wholly owned Subsidiary of Aditya Birla Nuvo Limited) and Sun Life
(India) AMC Investments Inc. (wholly owned subsidiary of Sun Life Financial,
Inc.)
The Company is registered with Securities and
Exchange Board of India (SEBI) under the SEBI (Mutual Funds) Regulations 1996
and the principal activity is to act as an investment manager to Birla Sun Life
Mutual Fund. The company manages the investment portfolio of Birla Sun Life
Mutual Fund, India Advantage Fund Limited, Mauritius, India Excel (Mauritius)
Fund. The Company is also registered the SEBI (Portfolio Managers) Regulations,
1993 and Providers Portfolio management services and investment advisory
services to offshore funds and high net worth investors.
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 19/09/2014 |
|
|
|
Reg. No.:- CHS/1015/2014 Reg. Date :- 14/10/2014 |
|
Main
Matter Lodging No.:- SL/2790/2009
Reg. No.:- S/2443/2009 |
|
MANAGEMENT
COMPANY LIMITED Resp. Adv.:- MANIAR SRIVASTAVA ASSOCIATES (I1862) District: MUMBAI |
|
Status: PRE-ADMISSION
Category: CHAMBER SUMMONS.
Next Date: 18/02/2015 Stage:
NOTICE OF MOTION FOR HEARING
[ORIGINAL
SITE MATTERS] Last Coram: HON'BLE SHRI JUSTICE K.R. SRIRAM |
|
Act: Code of Civil Procedure 1908 |
INDEX OF CHARGES
NO CHARGES EXIST FOR THE COMPANY.
FIXED ASSETS
·
Computer
·
Furniture and Fixture
·
Vehicles
·
Office Equipments
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. 62.14 |
|
|
1 |
Rs. 95.78 |
|
Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.