MIRA INFORM REPORT
|
Report No. : |
333983 |
|
Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
STATE BANK OF INDIA |
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|
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Registered
Office : |
State
Bank Bhavan, Central Office, 8th Floor, Madame Cama Marg, Nariman
Point, Mumbai – 400021, Maharashtra |
|
Tel. No.: |
91-22-22830535 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Year of Establishment : |
1806 |
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Capital Investment
/ Paid-up Capital : |
Rs.7465.731 Million |
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Legal Form : |
Subject
is a Public Sector Commercial Bank Owned by the Government of India. The
Bank's Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Banking
Activities. |
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No. of Employees
: |
213238 (Approximately) [Officers=78540 / Assistants=94455 /
Sub-Staff=40243] |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (87) |
|
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 |
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a one of oldest and the largest bank in India. It is a
well-established and reputed bank having excellent track record. The ratings continue to reflect the SBI’s systemic importance and
dominant position in the Indian banking sector supported by strong resource
profile, adequate capitalization and comfortable liquidity profile of the
bank. Trade relations are reported as praiseworthy. Payments are reported to
be regular and as per commitments. The bank can be considered good for normal business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Tier II Bonds (Basel III Compliant): “AAA” |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
13.01.2014 |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. R. M. Pathanayak |
|
Designation : |
AGM |
|
Contact No.: |
91-22-22740841 |
|
Date : |
25.07.2015 |
LOCATIONS
|
Registered/ Corporate Office : |
State Bank Bhavan, Central
Office, 8th Floor, Madame Cama Marg, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
Tel. No.: |
91-22-22830535/ 22883888/ 22022678/ 22740841-48 |
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Fax No.: |
91-22-22855348 |
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E-Mail : |
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Website : |
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Central Office : |
State Bank Bhavan, P. B. No. 12, |
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Tel No.: |
91-22-22022426 |
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Fax No.: |
91-22-22852708/ 22040073/ 2385139 |
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Local Boards : |
Located
at :
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Overseas Branches
Office : |
Located
at :
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DIRECTORS
AS ON 22.05.2015
|
CENTRAL BOARD OF DIRECTORS |
|
|
Name : |
Smt. Arundhati Bhattacharya |
|
Designation : |
Chairman |
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Name : |
Shri. P. Pradeep Kumar |
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Designation : |
Managing Director |
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Name : |
Shri. B. Sriram |
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Designation : |
Managing Director |
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Name : |
Shri V. G. Kannan |
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Designation : |
Managing Director |
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Name : |
Shri Rajnish Kumar |
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Designation : |
Managing Director (w.e.f. 26-5-2015) |
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Name : |
Shri. A. Krishna Kumar |
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Designation : |
Managing Director |
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Name : |
Shri Sanjiv Malhotra |
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Designation : |
Independent Director |
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Name : |
Shri Sunil Mehta |
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Designation : |
Independent Director |
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Name : |
Shri M. D. Mallya |
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Designation : |
Independent Director |
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Name : |
Shri Deepak I. Amin |
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Designation : |
Independent Director |
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Name : |
Shri S. K. Mukherjee |
|
Designation : |
Shri S. K. Mukherjee |
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|
Name : |
Dr. Rajiv Kumar |
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Designation : |
Director Nominated by GOI |
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|
Name : |
Shri Harichandra Bahadur Singh |
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Designation : |
Director Nominated by GOI |
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Name : |
Shri Tribhuwan Nath Chaturvedi |
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Designation : |
Director Nominated by GOI |
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Name : |
Dr. Hasmukh Adhia |
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Designation : |
Secretary, DFS Director Nominated by GOI |
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Name : |
Dr. Urjit R. Patel |
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Designation : |
DG, RBI Director Nominated by GOI |
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COMMITTEES OF THE BOARD |
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|
Executive Committee of the Central Board (ECCB) |
Mrs. Arundhati Bhattacharya, Chairman Shri P. Pradeep Kumar, Managing Directors Shri B. Sriram and Shri V. G. Kannan, Managing Directors Director
nominated under Section 19(f) of the SBI Act (Reserve Bank of India nominee),
viz. Dr. Urjit R. Patel, and all or any of the other Directors who are
normally residents or may for the time being be present at any place within
India where the meeting is held. |
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Audit Committee of the Board (ACB) |
Shri Sunil Mehta, Director – Chairman of the
Committee (w.e.f. 22-4-2015) Shri Sanjiv Malhotra, Director
– Member Shri M. D. Mallya, Director – Member Dr. Rajiv Kumar, Director - Member Dr. Hasmukh Adhia, GOI Nominee – Member Dr. Urjit R. Patel, RBI Nominee – Member Shri P. Pradeep Kumar, MD
and GE (IB) - Member (Ex-Officio) Shri B. Sriram, MD
and GE (NB) – Member (Ex-Officio) |
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Risk Management Committee of the Board (RMCB) |
Shri P. Pradeep Kumar, MD
and GE (CB) - Member (Ex-Officio) - Chairman of the Committee Shri B. Sriram, MD and GE (NB) - Member
(Ex-Officio) Shri Sanjiv Malhotra, Director
– Member Shri M. D. Mallya, Director – Member Shri Sunil Mehta, Director – Member Shri Deepak I. Amin, Director
– Member Dr. Rajiv Kumar, Director – Member Shri Tribhuwan Nath Chaturvedi, Director
– Member |
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Stakeholders Relationship Committee (SRC) |
Shri M. D. Mallya, Director
– Chairman of the Committee Shri Sunil Mehta, Director
– Member Shri Deepak I. Amin, Director
- Member Dr. Rajiv Kumar, Director
- Member Shri Harichandra Bahadur Singh, Director
- Member Shri B. Sriram, MD
and GE (NB) - Member (Ex-Officio) Shri V. G. Kannan, MD
and GE (A and S) – Member (Ex-Officio) |
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Special Committee of the Board for
Monitoring of Large Value Frauds (SCBMF) |
Shri P. Pradeep Kumar, MD
and GE (CB) - Member (Ex Officio) - Chairman of the Committee Shri B. Sriram, MD and GE (NB) - Member
(Ex-Officio) Shri Sanjiv Malhotra, Director
– Member Shri M. D. Mallya, Director – Member Shri Sunil Mehta, Director – Member Shri Deepak I. Amin, Director
– Member Shri Harichandra Bahadur Singh, Director
– Member Shri Tribhuwan Nath Chaturvedi, Director,
Member |
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|
Customer Service Committee of the Board (CSCB) |
Shri B. Sriram, MD and GE (NB) – Member
(Ex-Officio) - Chairman of the Committee Shri V. G. Kannan, MD and GE (A and S) – Member
(Ex-Officio) Shri M. D. Mallya, Director – Member Shri Sunil Mehta, Director – Member Shri Deepak I. Amin, Director
– Member Shri S. K. Mukherjee, Director
- Member Shri Harichandra Bahadur Singh, Director
– Member |
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IT Strategy Committee of the Board (ITSC) |
Shri Deepak I. Amin, Director
- Chairman of the Committee Shri Sanjiv Malhotra, Director
– Member Shri M. D. Mallya, Director
– Member Shri Sunil Mehta, Director
- Member Shri P. Pradeep Kumar, MD
and GE (CB) - Member (Ex-Officio) Shri B. Sriram, MD
and GE (NB) – Member (Ex-Officio) |
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Remuneration Committee of the Board |
Dr. Hasmukh Adhia, GOI
Nominee – Member (Ex-Officio) Dr. Urjit R. Patel, RBI
Nominee – Member (Ex-Officio) Shri M. D. Mallya, Director
– Member Shri Deepak I. Amin, Director
– Member |
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|
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|
Board Committee to Monitor Recovery (BCMR) |
Smt. Arundhati Bhattacharya, Chairman Shri P. Pradeep Kumar, MD
and GE (CB) – Member Shri B. Sriram, MD
and GE (NB) – Member Shri V. G. Kannan, MD
and GE (Aand S) - Member Dr. Hasmukh Adhia, GOI
Nominee – Member (Ex-Officio) |
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Corporate Social Responsibility Committee (CSR) |
Shri B. Sriram, MD
and GE (NB) – Member (Ex-Officio) - Chairman of the Committee Shri V. G. Kannan, MD
and GE (A and S) – Member (Ex-Officio) Shri Sanjiv Malhotra, Director
– Member Shri M. D. Mallya, Director
– Member Shri Sunil Mehta, Director
– Member Shri Deepak I. Amin, Director
– Member Shri Harichandra Bahadur Singh, Director
– Member |
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MEMBERS OF LOCAL BOARDS |
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|
Ahmedabad |
Shri A. N. Appaiah Chief General Manager (Ex-Officio) |
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Bangalore |
Smt. Rajni Mishra Chief General Manager (Ex-Officio) Smt. Sujaya Dinesh Alva |
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Bhopal |
Shri Riten Ghose Chief General Manager (Ex-Officio) Shri Anil Garg |
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Bhubaneswar |
Shri Krishna Mohan Trivedi Chief General Manager (Ex-Officio) Shri Sarat Chandra Bhadra |
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Chandigarh |
Shri Lingaraj Mahapatra Chief General Manager (Ex-Officio) Smt. Ravinder Kaur Shri Anil Arora |
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Chennai |
Shri P.S. Prakash Rao Chief General Manager (Ex-Officio) |
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Hyderabad |
Shri C. R. Sasikumar Chief General Manager (Ex-Officio) Shri M.V.Ranganath |
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Kolkata |
Shri Prashant Kumar Chief General Manager (Ex-Officio) |
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Lucknow |
Shri Karnam Sekar Chief General Manager (Ex-Officio) Shri Harichandra Bahadur Singh* Shri Munish Kumar Jain |
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Mumbai |
Shri Sudhir Dubey Chief General Manager (Ex-Officio) Shri Sanjiv Malhotra* Shri M.D. Mallya* Shri Sunil Mehta* Shri Deepak I. Amin* |
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Delhi |
Shri Pallav Mohapatra Chief General Manager (Ex-Officio) Dr. Rajiv Kumar* Shri T.N. Chaturvedi* Shri Dinesh Kumar |
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North Eastern |
Shri Sanjay Kumar Magoo Chief General Manager (Ex-Officio) |
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Patna |
Shri Ajit Sood Chief General Manager (Ex-Officio) Shri Sanjay Mandal |
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Kerala |
Shri Badal Chandra Das Chief General Manager (Ex-Officio) Shri Philip Mathew Shri A. Gopalakrishnan |
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*Directors on the Central Board nominated on the Local Boards as per Section 21(1) (b) of SBI Act. |
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
4475075262 |
60.38 |
|
|
4475075262 |
60.38 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
4475075262 |
60.38 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
398229546 |
5.37 |
|
|
14364926 |
0.19 |
|
|
2043987 |
0.03 |
|
|
972803085 |
13.13 |
|
|
873268723 |
11.78 |
|
|
2260710267 |
30.50 |
|
|
|
|
|
|
179791604 |
2.43 |
|
|
|
|
|
Individual shareholders holding nominal share capital up
to Rs.0.100 million |
435275603 |
5.87 |
|
Individual shareholders holding nominal share capital in
excess of Rs.0.100 million |
14312541 |
0.19 |
|
|
46104655 |
0.62 |
|
|
12692941 |
0.17 |
|
|
14412155 |
0.19 |
|
|
10000 |
0.00 |
|
|
9485495 |
0.13 |
|
|
4200 |
0.00 |
|
|
9499864 |
0.13 |
|
|
675484403 |
9.11 |
|
Total Public shareholding (B) |
2936194670 |
39.62 |
|
Total (A)+(B) |
7411269932 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
154938000 |
0.00 |
|
|
154938000 |
0.00 |
|
Total (A)+(B)+(C) |
7566207932 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
President of India |
4,47,50,75,262 |
59.15 |
|
Total |
4,47,50,75,262 |
59.15 |
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
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
Life Insurance Corporation Of India |
871125199 |
11.51 |
|
HDFC Trustee Company Limited - HDFC Equity Fund |
156284757 |
2.07 |
|
Total |
1027409956 |
13.58 |
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
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
Life Insurance Corporation Of India |
871125199 |
11.51 |
|
Total |
871125199 |
11.51 |
Details of Locked-in Shares
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
President of India |
36,04,52,430 |
4.76 |
|
President of India |
12,98,86,970 |
1.72 |
|
President of India |
11,21,86,850 |
1.48 |
|
President of India |
3,77,20,72,000 |
49.85 |
|
President of India |
10,04,77,012 |
1.33 |
|
Total |
4,47,50,75,262 |
59.15 |
Details of Depository Receipts (DRs)
|
Type
of Outstanding DR (ADRs, GDRs, SDRs, etc.) |
No. of Outstanding DRs |
No. of Shares Underlying |
Shares Underlying Outstanding DRs as
% of Total No. of Shares |
|
GDR |
1,54,93,800 |
15,49,38,000 |
2.05 |
|
Total |
1,54,93,800 |
15,49,38,000 |
2.05 |
BUSINESS DETAILS
|
Line of Business : |
Banking Activities |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
213238 (Approximately) [Officers=78540 / Assistants=94455 /
Sub-Staff=40243] |
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Bankers : |
Reserve Bank of India |
|
Bank’s Auditors : |
· S. Venkatram and Company Chennai, SCAs of Chennai Circle · V. P. Aditya and Company Kanpur, SCAs of Lucknow Circle · S. N. Nanda and Company New Delhi, SCAs of Patna Circle · S. Jaykishan Kolkata, SCAs of Bengal Circle · Dhamija Sukhija and Company Srinagar, SCAs of Delhi Circle · Sriramamurthy and Company Visakhapatnam, SCAs of Hyderabad Circle · Prakash and Santosh Kanpur, SCAs of Bhopal Circle · T. R. Chadha and Company New Delhi, SCAs of Mumbai Circle · K. B. Sharma and Company Jammu, SCAs of Chandigarh Circle · Mehra Goel and Company New Delhi, SCAs of Bangalore Circle · S. R. R. K. Sharma and Associates Bangalore, SCAs of Kerala Circle · M/s B. Chhawchharia and Company Kolkata, SCAs of Bhubneshwar Circle · S. N. Mukherji and Company Kolkata SCAs of North Eastern Circle · V. Sankar Aiyar and Company Mumbai, SCAs of Ahmedabad Circle |
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Collaborators : |
-- |
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Membership : |
-- |
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A) SUBSIDIARIES |
|
|
·
State Bank of Bikaner and Jaipur ·
State Bank of Hyderabad ·
State Bank of Mysore ·
State Bank of Patiala ·
State Bank of Travancore |
|
|
|
|
·
SBI (Mauritius) Limited ·
State Bank of India (Canada) ·
State Bank of India (California) ·
Commercial Indo Bank LLC, Moscow ·
PT Bank SBI Indonesia ·
Nepal SBI Bank Limited ·
State Bank of India (Botswana) Limited |
|
|
|
|
·
SBI Capital Markets Limited ·
SBI DFHI Limited ·
SBI Mutual Fund Trustee Company Private Limited ·
SBICAP Securities Limited ·
SBICAP Ventures Limited ·
SBICAP Trustee Company Limited ·
SBI Cards and Payment Services Private Limited ·
SBI Fund Management Private Limited ·
SBI Life Insurance Company Limited ·
SBI Pension Funds Private Limited ·
SBI – SG Global Securities Services Private
Limited ·
SBI Global Factors Limited ·
SBI General Insurance Company Limited ·
SBI Payment Services Private Limited |
|
|
|
|
·
SBICAP (UK) Limited ·
SBI Funds Management (International) Private
Limited ·
SBICAP (Singapore) Limited |
|
|
|
|
B)
JOINTLY CONTROLLED
ENTITIES |
·
GE Capital Business Process Management Services
Private Limited ·
C-Edge Technologies Limited ·
Macquarie SBI Infrastructure Management Pte.
Limited ·
Macquarie SBI Infrastructure Trustee Limited ·
SBI Macquarie Infrastructure Management Private
Limited ·
SBI Macquarie Infrastructure Trustee Private
Limited ·
Oman India Joint Investment Fund – Management
Company Private Limited ·
Oman India Joint Investment Fund – Trustee
Company Private Limited |
|
|
|
|
C) ASSOCIATES |
|
|
i.
Regional Rural Banks |
·
Andhra Pradesh Grameena Vikas Bank ·
Arunachal Pradesh Rural Bank ·
Chhattisgarh Rajya Gramin Bank ·
Ellaquai Dehati Bank ·
Meghalaya Rural Bank ·
Langpi Dehangi Rural Bank ·
Madhyanchal Gramin Bank ·
Mizoram Rural Bank ·
Nagaland Rural Bank ·
Purvanchal Bank ·
Saurashtra Gramin Bank ·
Utkal Grameen Bank ·
Uttarakhand Gramin Bank ·
Vananchal Gramin Bank ·
Marudhara Gramin Bank (upto 31.03.2014) ·
Rajasthan Marudhara Gramin Bank (formed on
amalgamation of Marudhara Gramin Bank- sponsored by SBBJ and Mewar Aanchalik
Gramin Bank sponsored by ICICI Bank limited w.e.f. 01.04.2014) ·
Telangana Grameena Bank (erstwhile Deccan
Grameena Bank) w.e.f. 20th Oct 2014 ·
Kaveri Grameena Bank ·
Malwa Gramin Bank |
|
|
|
|
ii.
Others |
·
SBI Home Finance Limited (under liquidation) ·
The Clearing Corporation of India Limited ·
Bank of Bhutan Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000000 |
Equity Shares |
Re.1/- each * |
Rs.50000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7465730920 |
Equity Shares |
Re.1/- each |
Rs.7465.731 Million |
|
|
|
|
|
[The above includes 16,04,31,560 Equity Shares
of Re.1 each
(Previous Year 1,58,73,554 Equity Shares of Rs.10 each) represented by 1,60,43,156 (Previous
Year 79,36,777) Global Depository Receipts]**
* The face value of the equity shares of the
Bank was reduced from Rs.10 per share to Re.1 per share vide resolution dated September 24,
2014 w.e.f. November 22, 2014 (Record Date November 21, 2014).
** GDR/ Equity Share ratio was changed from 1:2
to 1:10 w.e.f. November 24, 2014.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
CAPITAL AND
LIABILITIES |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
Share Capital |
7465.731 |
7465.731 |
6840.300 |
|
Reserves and Surplus |
1276916.534 |
1175356.765 |
981996.500 |
|
|
|
|
|
|
Deposits |
15767932.450 |
13944085.048 |
12027395.700 |
|
Borrowings |
2051502.926 |
1831308.826 |
1691827.200 |
|
Other
Liabilities and Provision |
1376980.357 |
969266.538 |
954053.000 |
|
|
|
|
|
|
TOTAL |
20480797.998 |
17927482.908 |
15662112.700 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and balances
with Reserve Bank of |
1158838.435 |
849556.605 |
658304.100 |
|
Balance with Banks and Money at call and short notice |
589774.602 |
475939.722 |
489897.500 |
|
Investments |
4950273.952 |
3987995.713 |
3508775.000 |
|
Advance |
13000263.929 |
12098287.192 |
10456165.500 |
|
Outside India |
93291.642 |
80021.551 |
70050.200 |
|
Fixed Assets |
688355.438 |
435682.125 |
478920.400 |
|
|
|
|
|
|
TOTAL |
20480797.998 |
17927482.908 |
15662112.700 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
INCOME |
|
|
|
|
Interest Earned |
|
1523970.742 |
1363508.039 |
|
Others Income |
|
225758.926 |
185529.164 |
|
TOTAL |
|
1749729.668 |
1549037.203 |
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
Interests Expended |
|
973818.236 |
870686.325 |
|
Operating Expenses |
|
386776.414 |
357258.513 |
|
Provision and Contingencies |
|
258119.298 |
212180.648 |
|
TOTAL |
|
1618713.948 |
1440125.486 |
|
|
|
|
|
|
PROFIT |
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
|
|
Current Tax |
|
|
|
|
Deferred Tax |
|
|
|
|
Profit after tax |
|
131015.720 |
108911.717 |
|
Profit brought forward |
|
3.248 |
3.393 |
|
|
|
|
|
|
TOTAL |
|
131018.968 |
108915.110 |
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
Transfer to Statutory Reserve |
|
40290.798 |
33396.191 |
|
Transfer to Capital Reserve |
|
1055.044 |
2167.530 |
|
Transfer to Revenue and other Reserves |
|
58890.556 |
47966.350 |
|
Dividend for the previous year paid during the year (including Tax on Dividend) |
|
-- |
0.145 |
|
Dividend for the current year |
|
|
|
|
- Interim dividend |
|
-- |
11198.596 |
|
- Final Dividend Proposed |
|
26481.728 |
11198.596 |
|
Tax on Dividend for the Current year |
|
4297.594 |
2984.454 |
|
Balance carried
forward to Balance Sheet |
|
3.248 |
3.248 |
|
|
|
|
|
|
TOTAL |
|
131018.968 |
108915.110 |
|
|
|
|
|
|
Basic Earnings per Share |
|
17.55 |
15.68 |
|
Diluted Earnings per Share |
|
17.55 |
15.68 |
|
PARTICULARS |
|
|
31.03.2013 |
|
INCOME |
|
|
|
|
Interest Earned |
|
|
1196551.000 |
|
Others Income |
|
|
160368.400 |
|
TOTAL |
|
|
1356919.400 |
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
Interests Expended |
|
|
753258.000 |
|
Operating Expenses |
|
|
292844.200 |
|
Provision and Contingencies |
|
|
111308.300 |
|
TOTAL |
|
|
1157410.500 |
|
|
|
|
|
|
PROFIT |
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
199508.900 |
|
Current Tax |
|
|
59538.800 |
|
Deferred Tax |
|
|
(1079.700) |
|
Profit after tax |
|
|
141049.800 |
|
Profit brought forward |
|
|
3.400 |
|
|
|
|
|
|
TOTAL |
|
|
141053.200 |
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
Transfer to Statutory Reserve |
|
|
44178.600 |
|
Transfer to Capital Reserve |
|
|
64724.300 |
|
Transfer to Revenue and other Reserves |
|
|
|
|
Dividend for the previous year paid during the year (including Tax on Dividend) |
|
|
0.000 |
|
Dividend for the current year (including interim dividend and tax on dividend) |
|
|
32146.900 |
|
Balance carried
forward to Balance Sheet |
|
|
3.400 |
|
|
|
|
|
|
TOTAL |
|
|
141053.200 |
|
|
|
|
|
|
Basic Earnings per Share |
|
|
210.06 |
|
Diluted Earnings per Share |
|
|
210.06 |
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 generated from/ (used in) operating activities |
475664.337 |
141074.183 |
216612.327 |
STOCK
PRICES
|
Face Value |
Rs.1.00/- |
|
Market Value |
Rs.263.25/- |
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 |
6840.300 |
7465.731 |
7465.731 |
|
Reserves & Surplus |
981996.500 |
1175356.765 |
1276916.534 |
|
Net
worth |
988836.800 |
1182822.496 |
1284382.265 |
|
|
|
|
|
|
Borrowings |
1691827.200 |
1831308.826 |
2051502.926 |
|
Total
borrowings |
1691827.200 |
1831308.826 |
2051502.926 |
|
Debt/Equity
ratio |
1.711 |
1.548 |
1.597 |
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 |
|
Interest Earned |
1196551.000 |
1363508.039 |
1523970.742 |
|
|
|
13.953 |
11.768 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Interest Earned |
1196551.000 |
1363508.039 |
1523970.742 |
|
Profit |
141049.800 |
108911.717 |
131015.720 |
|
|
11.79% |
7.99% |
8.60% |
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 |
No |
|
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 |
Yes |
|
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:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ECONOMIC BACKDROP AND BANKING ENVIRONMENT
Global Economic
Scenario
There is
a whiff of optimism in the air. The outlook for global growth seems to be
turning for the better with the Euro Area Q1 GDP growth at 0.4%, a bright spot
in a weak global economy. The International Monetary Fund (IMF) continues to
project the global output growth at 3.5% in 2015, which is a marginal
improvement over the 3.4% achieved in 2014. While the advanced economies (AE)
have shown some improvement, the growth across AE and emerging bloc continues
to diverge substantially. Emerging market and developing economies accounted
for three-fourths of global growth in 2014 and this trend is unlikely to tilt
in favour of AE in near future.
As far
as Euro Area was concerned, only the German performance was the big surprise on
the downside although the setback was largely on the external front with
domestic demand remaining strong. In contrast, Spain, France and Italy’s growth
accelerated on the back of strong household consumption (albeit helped by
energy consumption), defying the negative messages from the persistently weak
manufacturing PMIs.
While
the Q1 growth data caution against expecting a big growth bounce in the Euro
Area, we are confident that the fundamental macro drivers remain in place to
lift activity further going forward. Greece though remains a serious concern.
However, if the strong growth momentum continues, potential spill overs from a
Greek accident on to the rest of Europe may be limited.
Elsewhere
2015 will be the year when global economy will witness a structural break owing
to complex forces such as population ageing and declining potential growth;
global shocks, such as lower oil prices and many country or region-specific
factors, such as crisis legacies and exchange rate swings triggered by actual
and unexpected changes in monetary policies. China’s shift to ‘new normal’ is
judged by many as a one such major structural shift, which may have cascading
effects across the globe. Over the next five to ten years, the ‘new normal’
strategy will recalibrate China’s domestic economy towards domestic consumption
by reducing the share of investments in GDP and correcting the twin surplus in
its balance of Payments thus altering demand for capital and commodities.
Although
full global recovery that is realising pre-crisis levels of growth - have still
not been met; normalisation of fiscal and monetary policies continues to be the
agenda of Governments across the world. Equally important, there is now a
greater realisation among members of global community that balance of economics
influence has changed and supporting institutions have not caught up. This
realisation was clearly visible when the BRICS announced the formation of New
Development Bank and a large number of countries joined the China led of
Asia
Infrastructure Investment Bank to fill the vacuum unaddressed by existing
institutions.
India’s
Economic Scenario
The
Indian economy is poised for a gradual recovery. GDP based on new series grew
by 7.3% in FY2015 compared to 6.9% in FY2014 and 5.1% in FY2013. Central
Statistical Organisation (CSO) introduced a new measure of growth called Gross
Value Added (GVA) in line with the international perspective. On GVA basis,
economy is expected to grow by 7.5% in FY2015 on the back of robust growth in
services (10.5%) and industry (5.6%).
The
forecast for deficit monsoon this year is a matter of concern given the fact
that unseasonal rains, accompanied by hailstorm and frost during early part of
March 2015 in various parts of the country, had adversely impacted Rabi crops.
Hence, the country’s food-grain production is expected to decline by 3.2% to
257 million tonnes in FY2015 crop year (July to June) from the record 265
million tonnes in FY2014. However, the good news is that rain fall in the
initial phase of monsoon was 12% more than normal.
Industrial
growth, however, recently gained momentum and grew by 2.8% in FY2015 (4.1% in
April 2015), as compared to negative growth of 0.1% in the previous fiscal,
still way below its potential level. While mining and manufacturing sub-sector
grew in the range of 1-2%, it is the electricity sub-sector which continued to
generate some optimism in the industrial scenario, but its buoyancy was
inadequate to counter the weakness of other constituent sectors.
Inflation,
both Wholesale Price Index (WPI) and Consumer Price Index (CPI), remained
modest during the latter part of FY2015. During FY2015, WPI inflation stood at
2.1% (average) compared to 6.0% in the previous fiscal. The sharp contraction
in fuel prices contributed to the decline in the WPI. CPI inflation, based on
new base, also declined to 6% (from 9.6% in last fiscal).
On the
external front, improvement in the current account deficit (CAD) from 1.7% of
GDP in FY2014 to 1.3% for FY2015 is a positive sign. Exports for FY2015
declined by 1.23% and settled at US$310.5 billion, mainly due to sluggish
economic recovery among major trade partners. Similarly, imports for FY2015 was
US$447.5 billion as against US$ 450.2 billion in FY2014, a contraction of 0.59%
over the same period last year. Merchandise trade deficit for the year ended
31st March 2015 widened by US$1.3 billion at US$137 billion despite the
windfall gains from lower crude imports.
Financing
the CAD is no more an issue for the economy as the net portfolio capital
inflows (FII) in FY2015 has registered a massive growth of 415% over the
previous year inflows to reach US$45.7 billion and net foreign direct
investment (FDI) for FY2015 has crossed US$34.9 billion, 61.2% higher than the
net FDI inflow of the corresponding period last year. Net FII and FDI inflow
together have crossed US$80.6 billion in FY2015, highest inflow ever since
FY1991. Notably, stable capital flows (portfolio equity and direct investment
to total reserves) are now at 15.6%, a 5 year high with import cover of more
than 9 months, a 4 year high.
Banking
Environment
Due to
the sluggish economic environment, banking business has been impacted. In the
year FY2015 (fortnight ended 20th March, 2015), credit growth of the ASCB stood
at 9.00%, compared to FY2014 (21st March, 2014) growth of 13.9%. The sharp
deceleration in credit is due to a high base effect, reduced corporate demand
for bank loans, finance from other non-bank sources such as QIP and ECB.
Meanwhile, deposits growth was at 10.7%, compared to last year’s growth of
14.1%. This reduced growth in deposits is due to high base effect, since RBI
allowed banks to mobilize deposits through FCNR (B) in September, 2013.
RBI
kept the key interest rates unchanged till 15th January, 2015 but
thereafter reduced 75 bps three times (25 bps each) to enhance the credit
offtake in the system. Further, to ease pressure on liquidity, RBI has slashed
SLR by 100 bps to 21.5%. However, as a part of monetary transmission, deposit
rate of major banks for more than one year maturity softened from 8.00%-9.25%
in FY2014 to 8.00%-8.75% in FY2015, and base rate of major banks remains steady
at 10.00%-10.25% throughout the year. To push the retail loans, a number of
banks have reduced lending rates in some business segments such as housing,
auto loans etc., without reducing the base rate of the Bank.
Growth
deceleration impinging on corporate profitability and move to system-driven
identification of NPAs, the pressure on asset quality of the banks continued,
due to a variety of reasons both internal and external. Broad money (M3) growth
remained low during Q3 and Q4 of FY2014. With credit and deposit growth moving
broadly in tandem, liquidity conditions in the system remained comfortable
throughout, barring transient liquidity mismatches due to frictional factors
alluded to earlier.
To
provide banking facilities to every household in the country by 26th January,
2015, the Prime Minister launched a nation-wide new programme, namely ‘Pradhan
Mantri Jan Dhan Yojana’ (PMJDY) on 28th August, 2014. This ambitious programme
targeted the poor who have no access to financial services, with an objective
that easy access to the banking system can materially lift India’s economic
prosperity. Also the Direct Benefits Transfers (DBTs) will plug the loopholes
in the system to stop leakages in PDS, subsidy and other social welfare schemes
in the country by centre/states/municipalities etc. The banks have crossed the
target of opening 7.5 crores bank accounts by a huge margin opening 12.5 crores
accounts in phase I.
In a
new development, RBI is likely to issue new bank licenses to “Small Finance
Banks (SFB)” and “Payments Banks” during FY2016, which apart from providing an
impetus to financial inclusion, is expected to intensify competition in banking
sector in the medium term. Further, Government has allowed PSU banks to reduce
the Government‘s stake up to 51%, to meet the capital requirements under Basel
III.
Outlook
India’s
growth outlook is quite optimistic in the coming years. Various institutions
such as IMF and the World Bank are also very confident about India’s growth and
even according to the IMF, India’s growth would outpace China’s growth in 2016.
Initiatives such as ‘Make in India’ and ‘Pradan Mantri Jan Dhan Yojna’, etc.
and the plethora of reform measures taken by the Government have renewed fresh
hope and optimism around the Indian economy.
In a
recent development, the Indian Meteorological Department’s (IMD) forecast of
deficit rains have triggered widespread discussions about India’s food grain
production, agriculture’s GDP growth and its contribution to the economy and
concerns about food inflation in the current fiscal. Whatever may be the course
of Monsoon 2015 going forward, fears of drought are unfounded at this point of
time.
There
is a great rejuvenated optimism among corporates and industrialists regarding
improving investment climate and fast project clearances. On the one hand, the
quantum of projects stalled/abandoned has been reduced significantly and on the
other hand announcement/ commencements of new projects are also increasing.
FY2015
ended with a missed target for exports. Gradual recovery of the major trade
partners is expected to ease the concern in the current fiscal. FY2016 CAD is
expected to be at 1.5% of GDP. Change in the domestic GDP base and improvement
in the external demand sentiment is expected to push the exports further.
Declining crude oil, metal and commodity prices in the international market are
expected to ease trade deficit.
The
much awaited Foreign Trade Policy (FTP) 2015-20 unveiled by Government on 1st
April, 2015, provides a framework for increasing exports of goods and services,
generation of employment and increasing value addition in the country, in keeping
with the “Make in India” vision of Prime Minister. The focus of the new FTP is
to support both manufacturing and services sectors, with a special emphasis on
improving the ‘ease of doing business’ by providing a stable and sustainable
policy environment for foreign trade in both merchandise and services. However,
the new FTP target of a US$900 billion of goods and services export by 2020 is
almost double the present level. To achieve the target, exports need to grow by
about 15% in nominal dollar terms every year, roughly at a higher rate than the
economy grows. But comparing the target with the actual performance of the
sector, it seems to be an achievable one.
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.64.03 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
10 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--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 |
YES |
|
--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.