MIRA INFORM REPORT
|
Report No. : |
345099 |
|
Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MOTILAL OSWAL SECURITIES LIMITED (w.e.f. 30.11.2000) |
|
|
|
|
Formerly Known
As : |
DEO SECURITIES PRIVATE LIMITED |
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|
Registered Office
: |
Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite
Parel ST Depot, Prabhadevi, Mumbai – 400025, Maharashtra |
|
Tel. No.: |
91-22-39804200 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
05.07.1994 |
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|
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|
Com. Reg. No.: |
11-079418 |
|
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|
Capital
Investment / Paid-up Capital : |
Rs.13.190 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1994PLC079418 |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
PAN No.: [Permanent Account No.] |
AAACD3654Q |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in brokerage related activity. |
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No. of Employees
: |
Information denied by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 subsidiary of “Motilal Oswal Financial Services Limited”.
It offers wealth management, broking and distribution, commodity broking, portfolio
management services, institutional equities, private equity and investment
banking services. With respect to the operational performance of 2014, revenue of the
company has marginally declined by 4.48% whereas, net profit has declined by
79.26% during the year under a review. However, the company has a strong market position in both retail and
institutional broking segments and ranks among the top five equity brokers in
India. It also continues to have a healthy market position in the institutional
broking segment despite increasing competition backed by its established
track record, strong execution capabilities, and well-recognised research
team. Rating also takes into consideration its healthy financial base driven
by adequate net worth base along with low gearing and financial support
extended by its holding entity. However, rating strength partially offset by its main business remain
exposed to economic, political, and social factors that driven investor
sentiments. The cyclical nature of the industry along with brokerage volumes
and earnings are highly dependent on the level of trading activity in the
capital market. Trade relations are reported as fair. Payments are reported to be
regular and as per commitment. In view of aforesaid, the company can be considered good for normal
business dealings at usual trade terms and conditions. Note: Site visit was
conducted at the main administrative office of the subject company which is
located at palm spring center, 2ed floor, palm court, new link road Malad
west. During the visit security guard has not allowed our executive to step
inside the premises. As per our executive observation, locality seem to be commercial. It
is 8 storey building and the subject company is situated on 2ed floor of the
premises. Name board of the company was also sighted at the premises. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Commercial Paper Programme : A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
30.09.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED
Management Non-cooperative (Tel No.: 91-22-39825500)
LOCATIONS
|
Registered Office : |
Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel
ST Depot, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-39804200 |
|
Fax No.: |
91-22-30896842 |
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E-Mail : |
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Website : |
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Branch Office : |
Located At :
|
/DIRECTORS
As on 07.08.2014
|
Name : |
Mr. Praveenkumar Ramniranjan Tripathi |
|
Designation : |
Director |
|
Address : |
Row House No 5, Ashirwad Gokul Concorde Co-Operative Housing Society Limited, Surya Village, W.E. Highway Kandivali (East), Mumbai, 400101, Maharashtra, India |
|
Date of Appointment : |
31.07.2015 |
|
DIN No.: |
03154381 |
|
|
|
|
Name : |
Mr. Ajaykumar Sreedhara Menon |
|
Designation : |
Whole Time Director |
|
Address : |
B-404 Uranus, Vasant Galaxy, Bangur Nagar, Goregaon (West), Mumbai - 400090, Mumbai - 400090, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1974 |
|
Date of Appointment : |
02.04.2004 |
|
DIN No.: |
00024589 |
|
|
|
|
Name : |
Mr. Harsh Kanaiyalal Joshi |
|
Designation : |
Whole Time Director |
|
Address : |
Geeta Bhavan, C - Building, Ground Floor, Warden Road, Mumbai - 400036, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1970 |
|
Date of Appointment : |
20.10.2010 |
|
DIN No.: |
02951058 |
|
|
|
|
Name : |
Mr. Sudhir Dhar |
|
Designation : |
Additional Director |
|
Address : |
Building No.15, Wing 'B', Flat No. B-502, Bhakti Park, Next To Imax Theatre, Wadala (East), Mumbai - 400037, Maharashtra, India |
|
Date of Appointment : |
20.10.2010 |
|
DIN No.: |
06911441 |
|
|
|
|
Name : |
Rekha Utsav Shah |
|
Designation : |
Director |
|
Address : |
Flat 10, Plot 409, Jolly Bhavan 1B, Jolly Friends Co-Operative Housing Society Limited, 15th Road, TPS III, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
30.01.2015 |
|
DIN No.: |
07072417 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 07.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Raamdeo Agarwal |
|
100 |
|
Motilal Oswal |
|
100 |
|
Vimla Oswal |
|
100 |
|
Suneeta Agrawal |
|
100 |
|
Navin Agarwal |
|
100 |
|
Pratiksha Oswal |
|
100 |
|
Ajaykumar Sreedhara Menon |
|
12 |
|
Motilal Oswal Financial Services Limited, India |
|
1318218 |
|
Total |
|
1318830 |
Equity Share Break up (Percentage of Total Equity)
As on 07.08.2014
|
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 |
99.95 |
|
Directors or relatives of Directors |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in brokerage related activity. |
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Products / Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by Management. |
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Bankers : |
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Facilities : |
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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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PAN No.: |
AAAFH2010F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Motilal Oswal Financial Services Limited CIN No.: L67190MH2005PLC153397 |
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Ultimate Holding
Company : |
Passionate Investment Management Private Limited CIN No.: U67120MH1995PTC092014 |
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Subsidiary
Companies : |
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Fellow Subsidiaries
: |
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CAPITAL STRUCTURE
As on 07.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 Million |
|
6500000 |
Preference Shares |
Rs.10/- each |
Rs.65.000 Million |
|
|
Total |
|
Rs.120.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1318830 |
Equity Shares |
Rs.10/- each |
Rs.13.190 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 |
13.190 |
13.190 |
13.190 |
|
(b) Reserves & Surplus |
6437.400 |
6587.130 |
6103.570 |
|
(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) |
6450.590 |
6600.320 |
6116.760 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
153.010 |
185.260 |
34.780 |
|
(c) Other long term
liabilities |
3.740 |
0.000 |
0.000 |
|
(d) long-term
provisions |
31.170 |
34.280 |
39.210 |
|
Total Non-current
Liabilities (3) |
187.920 |
219.540 |
73.990 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.810 |
0.000 |
0.000 |
|
(b) Trade
payables |
3398.530 |
2540.660 |
2452.260 |
|
(c) Other
current liabilities |
170.830 |
405.050 |
214.800 |
|
(d) Short-term
provisions |
283.720 |
282.830 |
245.100 |
|
Total Current
Liabilities (4) |
3853.890 |
3228.540 |
2912.160 |
|
|
|
|
|
|
TOTAL |
10492.400 |
10048.400 |
9102.910 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1349.100 |
1449.790 |
1647.870 |
|
(ii)
Intangible Assets |
48.710 |
51.970 |
76.670 |
|
(iii) Capital
work-in-progress |
(0.010) |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2260.390 |
1123.270 |
746.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
163.350 |
142.850 |
136.040 |
|
(e) Other
Non-current assets |
16.620 |
0.610 |
31.260 |
|
Total Non-Current
Assets |
3838.160 |
2768.490 |
2638.440 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
704.380 |
255.070 |
0.000 |
|
(b)
Inventories |
606.270 |
1385.700 |
1573.840 |
|
(c) Trade
receivables |
2374.010 |
1946.410 |
1850.270 |
|
(d) Cash
and cash equivalents |
978.060 |
1628.780 |
2137.130 |
|
(e)
Short-term loans and advances |
1827.360 |
1722.260 |
129.880 |
|
(f) Other
current assets |
164.160 |
341.690 |
773.350 |
|
Total
Current Assets |
6654.240 |
7279.910 |
6464.470 |
|
|
|
|
|
|
TOTAL |
10492.400 |
10048.400 |
9102.910 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2969.780 |
3185.700 |
3555.630 |
|
|
|
|
Other Income |
247.920 |
183.140 |
76.350 |
|
|
|
|
TOTAL (A) |
3217.700 |
3368.840 |
3631.980 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Employee Benefits Expenses |
761.450 |
710.970 |
847.960 |
|
|
|
|
Other Expenses |
1554.620 |
1582.200 |
1602.250 |
|
|
|
|
Exceptional Items |
497.000 |
(344.570) |
(129.870) |
|
|
|
|
TOTAL (B) |
2813.070 |
1948.600 |
2320.340 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
404.630 |
1420.240 |
1311.640 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
21.660 |
28.810 |
35.630 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
382.970 |
1391.430 |
1276.010 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
143.150 |
160.290 |
114.910 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
239.820 |
1231.140 |
1161.100 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
69.040 |
410.370 |
345.890 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
170.780 |
820.770 |
815.210 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6321.310 |
5919.830 |
5439.060 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed dividend |
138.480 |
145.070 |
72.540 |
|
|
|
|
Interim Dividend |
134.530 |
145.070 |
145.070 |
|
|
|
|
Dividend Distribution Tax |
47.520 |
47.070 |
35.310 |
|
|
|
|
Transfer to General Reserve |
17.080 |
82.080 |
81.520 |
|
|
|
BALANCE CARRIED
TO THE B/S |
6154.480 |
6321.310 |
5919.830 |
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Earnings on royalty |
0.480 |
0.440 |
0.460 |
|
|
|
|
Earnings on professional and consultation fees |
112.980 |
104.490 |
108.350 |
|
|
|
TOTAL EARNINGS |
113.460 |
104.930 |
108.810 |
||
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|
IMPORTS |
|
|
|
||
|
|
|
Capital Goods |
0.000 |
0.000 |
32.170 |
|
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
32.170 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
170.78 |
820.77 |
815.21 |
||
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 |
1205.240 |
4.420 |
1023.260 |
|
Net cash flows from (used in) operating activities |
1068.660 |
(232.05) |
728.120 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.75 |
25.76 |
22.93 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.62 |
44.58 |
36.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.91 |
13.79 |
13.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.19 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
2.25 |
2.22 |
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 |
13.190 |
13.190 |
13.190 |
|
Reserves & Surplus |
6103.570 |
6587.130 |
6437.400 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
6116.760 |
6600.320 |
6450.590 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.810 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.810 |
|
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 Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
3555.630 |
3185.700 |
2969.780 |
|
|
|
(10.404) |
(6.778) |
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 |
3555.630 |
3185.700 |
2969.780 |
|
Profit |
815.210 |
820.770 |
170.780 |
|
|
22.93% |
25.76% |
5.75% |
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 |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
Case Details |
||||
|
Bench:- Bombay |
||||
|
Lodging No.:- |
ITXAL/865/2015 |
Filing Date:- |
26.06.2015 |
|
|
|
||||
|
Petitioner:- |
PR.COMMISSIONER OF INCOME TAX – CENTRAL - II |
Respondent:- |
MOTILAL OSWAL SECURITIES LIMITED |
|
|
Petn.Adv:- |
PADMA DIVAKAR (I3287) |
Resp. Adv.: |
-- |
|
|
District:- |
MUMBAI |
|||
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
|
Last Date:- |
03.07.2015 |
Stage:- |
-- |
|
|
Last Date:- |
-- |
|||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|||
|
|
|
|||
|
Act : |
Income Tax Act, 1961 |
|||
|
Under section |
260A |
|||
REVIEW OF
OPERATIONS AND FUTURE OUTLOOK
During the year, Motilal Oswal Securities Limited (MOSL) recorded total revenues of Rs.3,217.690 million, a decline of 4.49% from the previous year.
- Broking and related revenues declined by 3.38% to Rs.2,503790 million this year. Daily volumes in the equity markets reached Rs 2.0 trillion in FY14, up 20.43% from last year. The uptick was almost entirely led by the options segment, yet again. Options increased 22.84% YoY, and comprised 77.38% of overall market volumes in FY14. Futures were up 18.1% YoY, and comprised 16.1% of market volumes, same as last year. Cash equities at Rs 132.680 billion in FY14 was just marginally up by 1.84% as compared to FY13. Within this, the high-yield delivery segment showed an uptick of 3.97%. The fact that cash equities volumes have held in the Rs 130-140 billion range since last three years possibly indicates that cash volumes might have bottomed out at last. Our overall equity market share increased marginally from 1.53% to 1.60% on a YoY basis. As on March 31, 2014, total client base has increased to 800,385 which includes 701,845 retail broking and distribution clients, while Pan-India distribution reach stood at 1,534 business locations across 507 cities.
- Income from arbitrage operations decreased by 35.14% to Rs.167.480 million
- PMS distribution fees increased by 30.38% to Rs.82.140 million.
- Other operating income registered a decrease of 20.78% to Rs.216.370 million.
- Other income increased by 35.37% to Rs.247.910 million due to higher interest income.
In terms of expense items, operating expenses fell by 2.62% to Rs.946.780 million, on account of lower brokerage sharing with intermediaries this year. Personnel costs increased by 7.10% to Rs.761.450 million. Administration and other expenses declined marginally by 0.34% to Rs.7.850 million. As a result, total expenditure (before depreciation, interest and exceptional item) increased marginally by 1% to Rs.2,316.080 million. Profit before interest, depreciation and exceptional items declined by 16.18% to Rs.901.610 million this year.
The company had exposure to National Spot Exchange Limited (NSEL). However, NSEL has not been able to adhere to its payment obligations, and the company has perused legal action against it. Pending final outcome which is uncertain, the company has provided for 496.99 million (pretax) in respect of these positions during the year, which is disclosed under Exceptional Items.
Reported net profit for the year is Rs.170.780 million, a decrease of 79.19% from the last financial year.
After a volatile year, the Indian Stock Markets delivered strong returns in March, 2014 as investor sentiments seem to be building up in light of the stability in certain macro indicators, as well as the evolving political scenario. The index was up 18.85% for the year, with maximum gains coming in September, October and March, coinciding with months of high FII net inflows. On a relative basis, India outperformed leading Emerging Markets and Asia-Pacific benchmarks during this fiscal in US$ terms. Sustenance of macro indicators at reasonable levels, along with a revival in the capex cycle and manufacturing segment following clarity on the political front should help improve overall sentiments and help increase activity levels in capital markets.
They believe that the long-term Indian growth story is intact. Backed by strong savings, it would present several growth opportunities for financial services. During the current year, they have made sustained investments in technology, people and infrastructure which they believe will lay the foundation for growth as market activity eventually picks up.
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10564684 |
20/03/2015 |
750,000,000.00 |
INDUSIND BANK LIMITED |
BARAKHAMBA BRANCH, DR. GOPAL DAS BHAWAN, 28, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
C51385771 |
|
2 |
10560395 |
05/02/2015 |
750,000,000.00 |
YES BANK LIMITED |
INDIABULLS FINANCE CENTRE, TOWER 2, 23RD FLOOR, SENAPATI BAPAT MARG,ELPHINSTONE (W), MUMBAI - 400013, MAHARASHTRA, INDIA |
C49584717 |
|
3 |
10565098 |
08/12/2014 |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA- 390015, GUJARAT, INDIA |
C51527638 |
|
4 |
10503093 |
27/03/2014 |
4,500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL |
C06692743 |
|
5 |
10368616 |
13/06/2012 |
700,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B44936532 |
|
6 |
10294326 |
11/05/2011 |
500,000,000.00 |
HDFC BANK LIMITED |
ASAF ALI ROAD, NEW DELHI - 110001, INDIA |
B15866981 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.64.96 |
|
|
1 |
Rs.100.51 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
68 |
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.