MIRA INFORM REPORT
|
Report No. : |
338805 |
|
Report Date : |
01.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
IL AND FS EDUCATION AND TECHNOLOGY SERVICES LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Quadrant ‘D’, The IL and FS Financial Centre,
Plot C-22, G-Block, Bandra-Kurla Complex, Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-66947575 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
18.12.1997 |
|
|
|
|
Com. Reg. No.: |
11-112535 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.375.341 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80220MH1997PLC112535 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUM105436E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI2106H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subjects is to carry out operations in the field of education and technology. The Company’s operations include computer aided learning, multi-media syllabus based content, teacher training, vocational skills, English language training, and soft skills trainings. The Company is also engaged in trading of technology and educational products and also setting up of integrated technology based solutions. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is an old and established company incorporated during the year
1997 having a satisfactory track record. Available financial indicates company sound financial risk profile
marked by healthy networth position with low borrowings and good
profitability of the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In view of long track record and acceptable financial base, the
company can be considered normal for business dealings at usual trade terms
and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Rating |
|
Rating |
Long term issuer
rating = IND - A+ |
|
Rating Explanation |
Adequate degree of
safety and carry low credit risk. |
|
Date |
September, 12 2014 |
|
Rating Agency Name |
India Rating |
|
Rating |
Short term rating =
IND – A1 |
|
Rating Explanation |
Verly strong degree
of safety and carry lowest credit risk. |
|
Date |
September, 12 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Arvind |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67809292 |
|
Date : |
27.08.2015 |
LOCATIONS
|
Registered Office : |
3rd Floor, Quadrant ‘D’, The IL and FS Financial Centre,
Plot C-22, G-Block, Bandra-Kurla Complex, Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-67809292 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 21.08.2014
|
Name : |
Mr. Hari Sankaran |
|
Designation : |
Director |
|
Address : |
29 B, |
|
Date of Birth/Age : |
19.02.1961 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00002386 |
|
|
|
|
Name : |
Mr. Ravi Ramaswamy Parthasarathy |
|
Designation : |
Director |
|
Address : |
1201/1202, Vinayak Angan, 12th Floor, Near Bengal
Chemicals, Opposite V.I.P Lounge, Old Prabhadevi Road, Mumbai – 400018,
Maharashtra, India/ |
|
Date of Birth/Age : |
04.10.1952 |
|
Date of Appointment : |
12.01.1998 |
|
DIN No.: |
00002392 |
|
|
|
|
Name : |
Mr. Ramireddy Chandra Mowleeswar Reddy |
|
Designation : |
Managing Director |
|
Address : |
186, 1st Floor, Munrika Enclave, Opposite Vasant Vihar
Police Station, |
|
Date of Birth/Age : |
20.10.1963 |
|
Date of Appointment : |
21.01.2013 |
|
DIN No.: |
00060073 |
|
PAN No.: |
ACBPR7298E |
|
|
|
|
Name : |
Mr. Sudhir Gunvantray Mankad |
|
Designation : |
Director |
|
Address : |
Plot No. 192, Sector 8-C, Gandhinagar – 382007, |
|
Date of Birth/Age : |
05.08.1947 |
|
Date of Appointment : |
05.08.2008 |
|
DIN No.: |
00086077 |
|
|
|
|
Name : |
Mr. Arumugam Sakthivel |
|
Designation : |
Director |
|
Address : |
6, Kumaravel Colony, Tirupur - 641607, Tamilnadu, India |
|
Date of Appointment : |
10.02.2015 |
|
DIN No.: |
00027485 |
|
|
|
|
Name : |
Mr. Arvind Inder Malhotra |
|
Designation : |
Director |
|
Address : |
Plot No. 655, Shreenathji, Flat No. 703, 7th Floor, 16th
|
|
Date of Birth/Age : |
25.01.1947 |
|
Date of Appointment : |
19.01.1998 |
|
DIN No.: |
01312057 |
|
|
|
|
Name : |
Mr. Kumar Krishnan Iyer |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. 2002, 20th Floor, Odyssey II, |
|
Date of Birth/Age : |
28.05.1962 |
|
Date of Appointment : |
29.01.2010 |
|
DIN No.: |
01865617 |
|
|
|
|
Name : |
Mr. Pranay Shailesh Adhvaryu |
|
Designation : |
Nominee Director |
|
Address : |
23, Chola Building, Model Town, Near Four Bungalows, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1983 |
|
Date of Appointment : |
13.09.2013 |
|
DIN No.: |
03384491 |
|
Email : |
|
|
|
|
|
Name : |
Archana Niranjan Hingorani |
|
Designation : |
Director |
|
Address : |
10, Jeevan Dhara, Dr. Ambedkar Raod, Bandra West, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.09.1965 |
|
Date of Appointment : |
05.08.2014 |
|
DIN No.: |
00028037 |
KEY EXECUTIVES
|
Name : |
Daisy Khanna |
|
Designation : |
Company Secretary |
|
Address : |
100, SFS Flats, Rajouri Apartments, Rajouri Garden, New Delhi, India |
|
Date of Birth/Age : |
11.08.1978 |
|
Date of Appointment : |
29.07.2013 |
|
PAN No.: |
AKZPK7280R |
|
|
|
|
Name : |
Mr. Amitabh Jain |
|
Designation : |
Chief Financial Officer |
|
Address : |
404, Aspire - 1, Supertech Emerald Court, Sector 93A, Expressway Noida, Noida, 201304, Uttar Pradesh, India |
|
Date of Appointment : |
12.05.2014 |
|
PAN No.: |
AAJPJ4481F |
MAJOR SHAREHOLDERS
As on 21.08.2014
SHAREHOLDERS FILE
ATTACHED
As on 21.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
26.12 |
|
Bodies corporate |
73.70 |
|
Other top fifty shareholders |
0.18 |
|
Total |
100.00 |
BUSINESS
DETAILS
|
Line of Business : |
Subjects is to carry
out operations in the field of education and technology. The Company’s
operations include computer aided learning, multi-media syllabus based
content, teacher training, vocational skills, English language training, and
soft skills trainings. The Company is also engaged in trading of technology
and educational products and also setting up of integrated technology based
solutions. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
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 : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Financial Institution: |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber, City Complex, DLF City, Phase II , Gurgaon-122002, Haryana, India |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company
: |
· Infrastructure Leasing and Financial Services Limited |
|
|
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Subsidiary
Company : |
· IL and FS Cluster Development Initiative Limited · IL and FS Skills Development Corporation Limited |
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|
|
|
Fellow Subsidiary Company: |
· IL And Fs Securities Services Limited · Skill Training Assessment Management Partners Limited · Issl Cpg Bpo Private Limited · ILand Fs Financial Services Limited · ILand Fs Transportation Networks Limited · Noida Toll Bridge Company Limited · IL and Fs Trust Company Limited · IL and Fs Energy Development Company Limited · IL and Fs TamIL Nadu Power Company Limited · IL and Fs Investment Managers Limited · IL and Fs Township and Urban Assets Limited · Nana Layja Power Company Limited · Sealand Ports Private Limited · IL and Fs Maritime Infrastructure Company Limited ·
IL and Fs Technologies Limited |
|
|
|
|
Other Related
Parties : |
· Bihar e-Governance Services and Technologies Limited, India · Jharkhand e-Governance Solutions and Services Limited, India · IL and FS Technologies Limited, India · Karnataka Enterprise Solutions Limited, India · Odisha e-Governance Services Limited, India ·
Bihar Power Infrastructure Company Private
Limited, India |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/-each |
Rs.750.000 Million |
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37534146 |
Equity Shares |
Rs.10/-each |
Rs.375.341
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 |
375.341 |
375.341 |
375.341 |
|
(b) Reserves &
Surplus |
1730.280 |
1589.771 |
1428.887 |
|
(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) |
2105.621 |
1965.112 |
1804.228 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
675.520 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.628 |
5.890 |
7.904 |
|
Total Non-current
Liabilities (3) |
682.148 |
5.890 |
7.904 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1371.418 |
2107.452 |
790.660 |
|
(b) Trade payables |
3391.402 |
664.239 |
1112.784 |
|
(c) Other current
liabilities |
1131.061 |
231.175 |
127.133 |
|
(d) Short-term provisions |
152.790 |
4.365 |
179.768 |
|
Total Current Liabilities
(4) |
6046.671 |
3007.231 |
2210.345 |
|
|
|
|
|
|
TOTAL |
8834.440 |
4978.233 |
4022.477 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
51.243 |
54.193 |
219.916 |
|
(ii) Intangible Assets |
79.635 |
119.026 |
99.318 |
|
(iii) Capital
work-in-progress |
82.316 |
18.223 |
1.794 |
|
(iv) Intangible assets
under development |
57.060 |
5.983 |
6.983 |
|
(b) Non-current
Investments |
747.491 |
695.938 |
658.135 |
|
(c) Deferred tax assets
(net) |
63.800 |
70.900 |
42.900 |
|
(d) Long-term Loan and Advances |
169.713 |
188.581 |
99.236 |
|
(e) Other Non-current
assets |
2992.598 |
1129.379 |
1100.845 |
|
Total Non-Current Assets |
4243.856 |
2282.223 |
2229.127 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
190.326 |
100.484 |
43.735 |
|
(c) Trade receivables |
1304.088 |
1523.287 |
993.632 |
|
(d) Cash and cash
equivalents |
710.976 |
15.652 |
89.828 |
|
(e) Short-term loans and
advances |
152.455 |
321.018 |
219.078 |
|
(f) Other current assets |
2232.739 |
735.569 |
447.077 |
|
Total Current Assets |
4590.584 |
2696.010 |
1793.350 |
|
|
|
|
|
|
TOTAL |
8834.440 |
4978.233 |
4022.477 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6255.935 |
2457.807 |
3442.773 |
|
|
Other Income |
19.831 |
161.407 |
2.176 |
|
|
TOTAL |
6275.766 |
2619.214 |
3444.949 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
1485.680 |
|
|
Purchases of
Stock-in-Trade |
137.452 |
810.168 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(82.793) |
(57.120) |
2.579 |
|
|
Employees benefits
expense |
276.323 |
195.861 |
264.311 |
|
|
Other expenses |
5044.611 |
1145.725 |
1134.165 |
|
|
TOTAL |
5375.593 |
2094.634 |
2886.735 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
900.173 |
524.580 |
558.214 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
405.073 |
254.932 |
91.160 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
495.100 |
269.648 |
467.054 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
75.940 |
101.545 |
97.910 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
419.160 |
168.103 |
369.144 |
|
|
|
|
|
|
|
Less |
TAX |
126.994 |
26.528 |
116.122 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
292.166 |
141.575 |
253.022 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
7.78 |
3.77 |
6.74 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
520.180 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
927.723 |
(894.773) |
178.912 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
4.67
|
5.76 |
7.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.38
|
21.34 |
16.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.32 |
4.01 |
11.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.09 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.97 |
1.07 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76 |
0.90 |
0.81 |
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 |
375.341 |
375.341 |
375.341 |
|
Reserves & Surplus |
1428.887 |
1589.771 |
1730.280 |
|
Net worth |
1804.228 |
1965.112 |
2105.621 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
675.520 |
|
Short term borrowings |
790.660 |
2107.452 |
1371.418 |
|
Total borrowings |
790.660 |
2107.452 |
2046.938 |
|
Debt/Equity ratio |
0.438 |
1.072 |
0.972 |
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 |
3442.773 |
2457.807 |
6255.935 |
|
|
|
(28.610) |
154.533 |
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 |
3442.773 |
2457.807 |
6255.935 |
|
Profit |
253.022 |
141.575 |
292.166 |
|
|
7.35% |
5.76% |
4.67% |
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 |
BACKGROUND
Subject was incorporated on December 18, 1997 under the provisions of the Companies Act, 1956 with the primary objective to carry out operations in the field of education and technology. The Company’s operations include computer aided learning, multi-media syllabus based content, teacher training, vocational skills, English language training, and soft skills trainings. The Company is also engaged in trading of technology and educational products and also setting up of integrated technology based solutions.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10543952 |
15/01/2015 |
1,500,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
C40867947 |
|
2 |
10526728 |
17/10/2014 |
1,500,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
C30344006 |
|
3 |
10525910 |
25/09/2014 |
250,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA , KURLA COMPLEX BANDRA EAST, MUMBAI - 400051, MAHARASHTRA , INDIA |
C29672870 |
|
4 |
10485187 |
11/03/2014 |
3,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA , KURLA COMPLEX BANDRA EAST, MUMBAI - 400051, MAHARASHTRA , INDIA |
C00602409 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Other Loans and Advances |
650.000 |
145.302 |
|
Total |
650.000 |
145.302 |
FIXED ASSETS
· Data Processing Equipment
· Office Equipment
· Mobile Phones
· Buildings
· Furniture and fixtures
· Vehicles
· Office equipment
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 exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.26 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
50 |
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.