MIRA INFORM REPORT
|
Report No. : |
345101 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DSP BLACKROCK INVESTMENT MANAGERS PRIVATE LIMITED (w.e.f. 27.05.2009) |
|
|
|
|
Formerly Known
As : |
DSP BLACKROCK INVESTMENT MANAGERS LIMITED (w.e.f. 14.10.2008) DSP MERRILL LYNCH FUND MANAGERS LIMITED (w.e.f. 07.03.2003) DSP MERRILL LYNCH INVESTMENT MANAGERS LIMITED |
|
|
|
|
Registered
Office : |
Mafatlal Centre, 10th Floor, Nariman Point, Mumbai – 400021,
Maharashtra |
|
Tel. No.: |
91-22-22884822 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.05.1996 |
|
|
|
|
Com. Reg. No.: |
11-099483 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.200.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH1996PTC099483 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10223D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3069K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject operates as an “Asset Management Company” for schemes of DSP BlackRock Mutual Fund, registered with the Securities and Exchange Board of India (SEBI) in India, also renders non-binding investment management advisory services to offshore asset management entities. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having excellent track. For the financial year ended 2014, the company has healthy scale of operations
marked by decent top line growth along with the revenue of Rs.2664.500
Million as compared to Rs.2432.230 Million in previous year. It has achieved
profitability margin of 25.44%. The company has strong financial position, healthy liquidity profile
along with zero debt balance sheet profile. Trade relations are fair. Business is active. Payment are regular and
as per commitments. 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 |
ICRA |
|
Rating |
Fund based facilities = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
June, 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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Pritesh Majmudar |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-66578000 |
|
Date : |
12.10.2015 |
LOCATIONS
|
Registered Office : |
Mafatlal Centre, 10th Floor, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
Tel. No.: |
91-22-66578000 |
|
Fax No.: |
91-22-66578181 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Maker Chamber VI, Office No. 126/127, 12th Floor, Jamnalal Bajaj Road,
Nariman Point, Mumbai-400021, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Hemendra Mathuradas Kothari |
|
Designation : |
Director |
|
Address : |
57 Sea View, Worli Seaface, Mumbai-400025, |
|
Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
13.05.1996 |
|
DIN No.: |
00009873 |
|
|
|
|
Name : |
Mr. Uday Chander Khanna |
|
Designation : |
Director |
|
Address : |
Centrum Towers Flat 182, Centrum Co-operative Society Limited,
Barkatali Road, Wadala, Mumbai – 400037, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1949 |
|
Date of Appointment : |
30.08.2013 |
|
DIN No.: |
00079129 |
|
|
|
|
Name : |
Mr. Subrahmanian Rameseshan Venkata |
|
Designation : |
Director |
|
Address : |
8 Rushilla, 17-C, |
|
Date of Birth/Age : |
26.09.1933 |
|
Date of Appointment : |
18.10.1996 |
|
DIN No.: |
00005292 |
|
|
|
|
Name : |
Mr. Omkar Mihir Goswami |
|
Designation : |
Director |
|
Address : |
E-121, Masjid Moth, 1st Floor, Greater, Kailash III, New
Delhi-110048, |
|
Date of Birth/Age : |
29.08.1956 |
|
Date of Appointment : |
22.01.2001 |
|
DIN No.: |
00004258 |
|
|
|
|
Name : |
Mr. Ranjan K C Pant |
|
Designation : |
Director |
|
Address : |
Portion – B, 10-A, Kasturba Gandhi Marg, New Delhi-110001, |
|
Date of Birth/Age : |
29.06.1959 |
|
Date of Appointment : |
25.06.2002 |
|
DIN No.: |
00005410 |
|
|
|
|
Name : |
Mr. Piyush Gunwantrai Mankad |
|
Designation : |
Director |
|
Address : |
P 161, |
|
Date of Birth/Age : |
18.11.1941 |
|
Date of Appointment : |
21.10.2004 |
|
DIN No.: |
00005001 |
|
|
|
|
Name : |
Mr. Laurence Dauglos Fink |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
02.11.1952 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02519601 |
|
|
|
|
Name : |
Mr. Susan Albert Wagner |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
26.05.1961 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02519231 |
|
|
|
|
Name : |
Mr. John Richard Kushel |
|
Designation : |
Alternate Director |
|
Address : |
1135 Greacen Point Road, Mamaroneck-10543, USA |
|
Date of Birth/Age : |
31.05.1966 |
|
Date of Appointment : |
16.04.2009 |
|
DIN No.: |
02544270 |
|
|
|
|
Name : |
Mr. David Patric Graham |
|
Designation : |
Director |
|
Address : |
Marley Cottage, |
|
Date of Birth/Age : |
13.12.1955 |
|
Date of Appointment : |
05.08.2014 |
|
DIN No.: |
00005250 |
|
|
|
|
Name : |
Mr. Ryan David Stork |
|
Designation : |
Director |
|
Address : |
House 8, Three Bays, Stanley Beach Road, Tai Tam Bay, Hong Kong, 00000, Hong Kong |
|
Date of Appointment : |
05.08.2015 |
|
DIN No.: |
06931652 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Pillai |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Pritesh Niranjan Majmudar |
|
Designation : |
Company Secretary |
|
Address : |
D-706, Manish Park, Pump House, Andheri East, Mumbai-400093, |
|
Date of Birth/Age : |
18.08.1977 |
|
Date of Appointment : |
30.01.2009 |
|
PAN No.: |
AJUPM8866B |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Black Rock Advisors Singapore Pte Limited, |
8000000 |
40.00 |
|
DSP Adiko Holdings Private Limited, |
8000000 |
40.00 |
|
DSP HMK Holdings Private Limited, India |
4000000 |
20.00 |
|
Total |
20000000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
40.00 |
|
Bodies corporate |
60.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operates as an “Asset Management Company” for schemes of DSP BlackRock Mutual Fund, registered with the Securities and Exchange Board of India (SEBI) in India, also renders non-binding investment management advisory services to offshore asset management entities. |
||||
|
|
|
||||
|
Products / Services : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th-32nd Floor, Indiabulls Financial Centre, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
|
|
|
|
Others : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
200.000 |
200.000 |
200.000 |
|
(b) Reserves &
Surplus |
3715.829 |
3037.957 |
2464.161 |
|
(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) |
3915.829 |
3237.957 |
2664.161 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
17.598 |
12.915 |
5.999 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
60.437 |
58.584 |
38.772 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
78.035 |
71.499 |
44.771 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
193.640 |
212.450 |
353.830 |
|
(c) Other current
liabilities |
26.751 |
22.606 |
51.878 |
|
(d) Short-term provisions |
26.094 |
24.679 |
19.392 |
|
Total Current Liabilities
(4) |
246.485 |
259.735 |
425.100 |
|
|
|
|
|
|
TOTAL |
4240.349 |
3569.191 |
3134.032 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
101.433 |
112.357 |
141.211 |
|
(ii) Intangible Assets |
27.107 |
21.783 |
18.358 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
446.364 |
551.364 |
367.304 |
|
(c) Deferred tax assets
(net) |
91.306 |
88.106 |
60.150 |
|
(d) Long-term Loan and Advances |
273.132 |
241.547 |
252.836 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
939.342 |
1015.157 |
839.859 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2868.813 |
2185.975 |
1795.246 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
286.608 |
286.154 |
239.154 |
|
(d) Cash and cash
equivalents |
17.770 |
10.272 |
35.322 |
|
(e) Short-term loans and
advances |
30.375 |
35.048 |
85.875 |
|
(f) Other current assets |
97.441 |
36.585 |
138.576 |
|
Total Current Assets |
3301.007 |
2554.034 |
2294.173 |
|
|
|
|
|
|
TOTAL |
4240.349 |
3569.191 |
3134.032 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2664.500 |
2432.230 |
2201.300 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
905.840 |
761.000 |
686.060 |
|
|
|
|
|
|
|
Less |
TAX |
227.970 |
187.200 |
181.320 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
677.870 |
573.800 |
504.740 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
3035.560 |
2461.760 |
1957.020 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
3713.430 |
3035.560 |
2461.760 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Offshore Advisory fees |
217.112 |
246.833 |
292.290 |
|
|
TOTAL EARNINGS |
217.112 |
246.833 |
292.290 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Value of imported capital goods on CIF basis |
13.644 |
4.931 |
8.420 |
|
|
TOTAL IMPORTS |
13.644 |
4.931 |
8.420 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
33.89 |
28.69 |
25.24 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
673.189 |
605.228 |
477.942 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
25.44 |
23.59 |
22.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.46 |
25.98 |
25.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.24 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
13.39 |
9.83 |
5.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
200.000 |
200.000 |
200.000 |
|
Reserves & Surplus |
2464.161 |
3037.957 |
3715.829 |
|
Net worth |
2664.161 |
3237.957 |
3915.829 |
|
|
|
|
|
|
long-term borrowings |
5.999 |
12.915 |
17.598 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
5.999 |
12.915 |
17.598 |
|
Debt/Equity ratio |
0.002 |
0.004 |
0.004 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2201.300 |
2432.230 |
2664.500 |
|
|
|
10.491 |
9.550 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2201.300 |
2432.230 |
2664.500 |
|
Profit |
504.740 |
573.800 |
677.870 |
|
|
22.93% |
23.59% |
25.44% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
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 |
Note:
Registered address has been shifted from the 11th Floor West
Wingtulsiani Chambers, Narimani Point, Mumbai – 400021, Maharashtra, India to
the present address w.e.f. 17.01.2011
BACKGROUND
Subject was incorporated in India on May 13, 1996. The Company operates as an “Asset Management Company” for schemes of DSP BlackRock Mutual Fund, registered with the Securities and Exchange Board of India (SEBI) in India. The Company also renders non-binding investment management advisory services to offshore asset management entities.
COMPANY PROFILE
The Company is the Investment Manager to DSP BlackRock Mutual Fund, a mutual fund registered under SEBI (Mutual Fund) Regulation 1996, in terms of the approval granted by SEBI vide letter no. IIMARP/201/97 dated January 30, 1997. The Company also offers non-binding investment advisory services to BlackRock India Equities Fund (Mauritius) Limited and BlackRock Asset Management North Asia Limited for investment in Indian securities in terms of approval granted by SEBI. The Company also offers investment advisory services to DSP BlackRock Investment Managers (Mauritius) Limited (“Mauritius IMC”), a wholly owned subsidiary of the Company, which is an asset management company to an offshore fund based in Mauritius. The Company is also Investment Manager to DSP BlackRock Alternative Investment Fund - Category III an Alternative Investment Fund registered under SEBI (Alternative Investment Funds) Regulations, 2012.
The Company also serves as Sponsor to DSP BlackRock Pension Fund Managers Private Limited (“DSPBLK-PFM”), subsidiary of the Company, as per Pension Fund Regulatory and Development Authority of India (“PFRDA”) (Registration of Pension Funds for Private Sector) Guideline 2012 (“Guidelines”). DSPBLK-PFM received the certificate of registration from PFRDA on April 17, 2013 to serve as Pension Fund Manager (“PFM”) under the National Pension System (“NPS”) and the Certificate of Commencement of Business on June 25, 2013. Subsequently on January 16, 2014, the PFRDA issued a Request for Proposal (RFP) for fresh selection of PFM for the Private Sector. Under the RFP, the lowest commercial bid (“L1”) discovered for Investment Management Fee was 0.01% p.a. The Company has decided not to match the L1, since it is commercially unviable. Consequently, the aforesaid certificate of registration from PFRDA got ceased with effect from August 1, 2014.
REVIEW OF OPERATIONS
A. Mutual Fund - Schemes and Assets under
Management (AUM)
The Company is required to manage the schemes of the Fund in accordance with the provisions of the Investment Management Agreement executed by the Company with DSP BlackRock Trustee Company Private Limited the Trust Deed constituting the Fund, SEBI (Mutual Funds) Regulations, 1996 and the investment objectives of each of the scheme.
As on March 31, 2014, the Assets under Management (AUM) of the Company under its Mutual Fund business was Rs. 311.66 billion as against Rs. 316.63 billion as of March 31, 2013.
B. ALTERNATIVE INVESTMENT FUND
The Company initiated its Alternative Investment Fund
business and launched its first scheme, DSP BlackRock India Enhanced Equity
Fund under DSP BlackRock Alternative Investment Fund - Category III on May 1,
2014. The total AUM under the AIF Scheme is Rs. 977.55 million as on June 30,
2014.
C. SERVICE STANDARDS
The Fund services a client base of more than 2.9 million accounts through AMC Offices as well as offices of its Registrar and Transfer Agent, Computer Age Management Services Pvt. Ltd. (CAMS) in about 200 locations across India. Additionally, the AMC has three dedicated Call Centres at Mumbai, New Delhi and Ahmedabad to service investors and distributors.
The Fund continues to provide value added services to investors and distributors with a view to provide easier and better means of transacting, seeking information, etc.
For the convenience of its investors and distributors, the AMC initiated following key facilities during the year:
- Introduction of One Time Mandate (OTM) facility, which was the first of its kind in the industry. Through this facility the investor can register a debit mandate for a specified amount through a simple registration process. Thereafter the investor can subscribe to any scheme by sending a sms or through its website or Call Centre or even submit a physical purchase request without a cheque.
- Transacting experience was made simpler for the investors who have registered OTM.
- Further, investors who have registered an OTM mandate can register multiple SIPs with different Schemes, amount and SIP dates through a simple process.
- The Fund now sends sms as well as emails on receipt of transactions i.e. Transaction Receipt Alerts to acknowledge the receipt of transactions and also to alert the investor in case of any fraudulent transactions. This is in addition to the sms and emails which are sent after processing the transactions.
- The website of the Fund was enhanced to enable investors to generate their PIN (Personal Identification Number) and access portfolio online without the need of submitting a physical request.
- For the benefit of distributors, the Fund started daily automated emails to inform them about list of all SIP/STP/SWP/OTM registrations / cancellations and help them to service their investors better.
- For the benefit of investors and distributors, monthly email reminders are sent about FMP / FTP / DAF maturities occurring in the following month which will help them to plan re- investment on maturity.
- Regular reminders are sent to alert investors and distributors on any unclaimed dividend and redemptions. The Fund also calls the investors where the redemption payment instrument is unencashed within 60 days of sending the instrument.
- The AMC has put up Insta Phone facility at most of the AMC Branches for investors visiting the branch, to connect to the Call Centre for query resolutions without having to wait in a queue at the front office counters.
D. SUBSIDIARY UPDATES
Mauritius IMC
The Company has a wholly owned subsidiary in Mauritius viz., DSP BlackRock Investment Managers (Mauritius) Limited (“Mauritius IMC”), which acts as the Investment Manager to an offshore fund viz DSP BlackRock India Investment Fund (“Mauritius Fund”). The key objective of the Mauritius Fund is to invest in Indian securities, including mutual funds. The Mauritius Fund is registered with SEBI as a sub-account under the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995. As on March 31, 2014 the AUM of Mauritius Fund stood at USD 101.39 million.
DSPBLK-PFM
DSPBLK-PFM had received the certificate of registration from PFRDA on April 17, 2013 to serve as PFM under the NPS and the Certificate of Commencement of Business on June 25, 2013. Subsequently on January 16, 2014, the PFRDA issued a RFP for fresh selection of PFM for the Private Sector and the lowest commercial bid discovered for Investment Management Fee was 0.01% p.a. The Company decided not to match the lowest bid, since it is commercially unviable. Consequently, the aforesaid certificate of registration got ceased with effect from August 1, 2014.
CONTINGENT
LIABILITIES
(Rs. In Million)
|
Particulars |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
Claims against the Company not acknowledged as debt |
4.635 |
4.604 |
|
Interest on claims relating to service tax matters contested by the Company |
2.412 |
2.412 |
|
Income tax matters contested by the Company |
4.244 |
2.210 |
|
Total |
11.291 |
9.226 |
INDEX OF CHARGES
|
S.
No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10593347 |
14/09/2015 |
1,305,369.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C65357840 |
|
2 |
10557072 |
17/03/2015 |
1,284,184.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C47752290 |
|
3 |
10519834 |
04/09/2014 |
1,702,083.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C20537619 |
|
4 |
10504262 |
11/06/2014 |
1,171,891.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C07381429 |
|
5 |
10501821 |
28/05/2014 |
382,211.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C06044036 |
|
6 |
10494748 |
09/05/2014 |
1,178,278.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C04552154 |
|
7 |
10490347 |
22/04/2014 |
1,341,422.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C03827268 |
|
8 |
10486724 |
19/03/2014 |
899,139.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
C01110972 |
|
9 |
10479359 |
10/02/2014 |
1,190,282.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
B97100804 |
|
10 |
10479094 |
03/02/2014 |
745,253.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL West, MUMBAI - 400013, Maharashtra, INDIA |
B96999230 |
* Date of charge modification
FIXED ASSETS
- Furniture fixtures
- Other Equipments
- Vehicles
- Leasehold properties
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 records 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.65.02 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.73.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--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 |
|
75 |
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.