|
|
|
MIRA INFORM REPORT
|
Report No. : |
491952 |
|
Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE NIPPON LIFE ASSET MANAGEMENT LIMITED (w.e.f.05.05.2016) |
|
|
|
|
Formerly Known
As : |
RELIANCE CAPITAL ASSET MANAGEMENT LIMITED |
|
|
|
|
Registered
Office : |
Reliance Centre, 7th Floor, South Wing, Off Western,
Express Highway, Santacruz (East), Mumbai - 400055, Maharashtra, India |
|
Tel. No.: |
91-22-33031000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
24.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-220793 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 415.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L65910MH1995PLC220793 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GST No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2668G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
|
|
|
|
Line of Business
: |
The Company’s principal activity is to act as an
investment manager to Reliance Mutual Fund (‘the Fund’) and to provide Portfolio
Management Services (‘PMS’) and advisory services. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Reliance Nippon Life Asset Management Limited (RNLAM) is a subsidiary of “Reliance Capital Limited” (RCL) and it holds 51% of its total issued and paid- up equity share capital of RNLAM. Nippon Life Insurance Company (NLI) Holds 44.57% OF RNLAM”S total issued and paid up equity share capital. Reliance Nippon Life Asset Management Limited (RNLAM) is a part of the “Reliance ADA Group”. For the financial year ended 2017, the company has achieved 9.06% growth in its revenue as compared to previous year revenue and has maintained healthy profitability margin of 31.88% during the year under review. The robust financial profile of the company is marked by healthy networth base along with strong debt coverage indicators due to debt free balance sheet profile. The company has decent Earning Per Share (EPS) of INR 351.37 against the face value (FV) of INR 10. Rating takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. The company has its share price trading at around INR 279.35 Against the Face Value (FV) of INR 10 on BSE as on February 13, 2018. Rating also derives strength from company’s established track record of business. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for good 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 |
Reliance Liquidity Fund = A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
27.07.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Reliance Income Fund = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk |
|
Date |
27.07.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 15.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-22-33031000]
LOCATIONS
|
Registered/
Corporate Office : |
Reliance Centre, 7th Floor, South Wing, Off Western,
Express Highway, Santacruz (East), Mumbai - 400055, Maharashtra, India |
|
Tel. No.: |
91-22-33031000 |
|
Fax No.: |
91-22-33037662 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Ved Prakash Malik |
|
Designation : |
Director |
|
Address : |
251, Sector-6, Panchkula -134109, Haryana, India |
|
Date of Appointment : |
22.04.2016 |
|
Qualification: |
Graduate from Defence Services Staff College and MSc in Defence and Strategic Studies from the Madras University |
|
Pan No.: |
ADAPM5711F |
|
DIN No.: |
00006628 |
|
|
|
|
Name : |
Mr. Kanu Harkisondas Doshi |
|
Designation : |
Director |
|
Address : |
102, Shivala Building, Khatau Road, Colaba, Cuff Parade,
Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1937 |
|
Qualification : |
B.Com, B A, FCA (Char tered Accountant) |
|
Date of Appointment : |
09.06.2006 |
|
PAN No.: |
AAAPD4032B |
|
DIN No.: |
00577409 |
|
|
|
|
Name : |
Mr. Sushil Chandra Tripathi |
|
Designation : |
Director |
|
Address : |
27, Sector-15A, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.06.1946 |
|
Qualification : |
M.Sc (Physics Spl. Electronics), LL B, Postgraduate Diploma in Development Studies (Cantab), AIMA Diploma in Management |
|
Date of Appointment : |
24.07.2007 |
|
PAN No.: |
ACXPT9105A |
|
DIN No.: |
00941922 |
|
|
|
|
Name : |
Mr. Sundeep Sikka |
|
Designation : |
Whole-time Director |
|
Address : |
C- 2301, 23/24, Tower 1, Ashok Garden, Tokersey Jivraj Road, Swan Mills Compound, Sewree, Mumbai 400015, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1972 |
|
Date of Appointment : |
22.04.2016 |
|
Pan No.: |
ADNPS7006G |
|
DIN No.: |
02553654 |
|
|
|
|
Name : |
Mrs. Ameeta Sonjoy |
|
Designation : |
Director |
|
Address : |
Flat No. 10, 10th Floor, Sanghi Residency, Prabhadevi,
Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1972 |
|
Qualification : |
Post Graduate Diploma in Management from Indian Institute of Management, Bangalore and B.Com(Hons) from Lady Sriram College for Women, Delhi University |
|
Date of Appointment : |
24.03.2015 |
|
PAN No.: |
AADPT6373J |
|
DIN No.: |
03010772 |
|
|
|
|
Name : |
Mr. Kazuhide Toda |
|
Designation : |
Director |
|
Address : |
18, Marina Boulevard #05-13 Marina Bay Residences, Singapore 018980 |
|
Date of Birth/Age : |
10.06.1963 |
|
Qualification : |
Bachelor of Economics, Sophia University |
|
Date of Appointment : |
22.04.2016 |
|
DIN No.: |
06861167 |
|
|
|
|
Name : |
Mr. Takayuki Murai |
|
Designation : |
Director |
|
Address : |
22-29, Sakuradai, Aoba-Ku, Yokohama-Shi Kanagawa 2270061 Jp |
|
Date of Appointment : |
22.04.2017 |
|
DIN No.: |
07789455 |
|
|
|
|
Name : |
Mr. Vijayendra Nath Kaul |
|
Designation : |
Director |
|
Address : |
W-75 G/F, Greater Kailash II, New Delhi 110048, India |
|
Date of Appointment : |
07.06.2017 |
|
DIN No.: |
03070263 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Mukhija |
|
Designation : |
Company Secretary |
|
Address : |
1302, Hema Park Tower, Bhandup (East), Mumbai -400042,
Maharashtra, India |
|
Date of Appointment : |
20.12.2016 |
|
PAN No.: |
AJSPM8298F |
|
|
|
|
Name : |
Mr. Prateek Jain |
|
Designation : |
Chief Finance Officer |
|
Address : |
E-403, Oberoi Splendor, Jogeshwari Vikhroli Link Road,
Opposite Majas Bus Depot, Jogeshwari East, Mumbai-400060, Maharashtra, India |
|
Date of Appointment : |
28.07.2014 |
|
PAN No.: |
ABWPJ8382R |
|
|
|
|
Name : |
Mr. Ajay Ramanlal Patel |
|
Designation : |
Manager |
|
Address : |
Flat No. 302 , Mitasu Apartment , 05, Odhav Nagar Near
Ganesh Mandir, Borivali (East), Mumbai-400066, Maharashtra, India |
|
Date of Appointment : |
01.07.2015 |
|
PAN No.: |
AAHPP7269H |
|
|
|
|
Name : |
Mr. Sundeep Sikka |
|
Designation : |
Chief Executive Officer |
|
Address : |
C- 2301, 23/24, Tower 1, Ashok Garden, Tokersey Jivraj
Road, Swan Mills Compound, Sewree, Mumbai-400015, Maharashtra, India |
|
Date of Appointment : |
28.07.2014 |
|
PAN No.: |
ADNPS7006G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.12.2017
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
(A) Promoter & Promoter Group |
524790000 |
85.75 |
|
(B) Public |
87210000 |
14.25 |
|
|
|
|
|
Total |
612000000 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Any Other
(specify) |
262395000 |
42.88 |
|
|
Reliance Capital
Limited |
262395000 |
42.88 |
|
|
Sub Total A1 |
262395000 |
42.88 |
|
|
A2) Foreign |
0.00 |
||
|
Any Other
(specify) |
262395000 |
42.88 |
|
|
Nippon Life
Insurance Company |
262395000 |
42.88 |
|
|
Sub Total A2 |
262395000 |
42.88 |
|
|
A=A1+A2 |
524790000 |
85.75 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
27427568 |
4.48 |
|
|
HDFC Trustee
Company Limited |
19603291 |
3.20 |
|
|
Alternate
Investment Funds |
16541214 |
2.70 |
|
|
IIFL Special
Opportunities Fund |
8024348 |
1.31 |
|
|
Foreign Portfolio
Investors |
18047514 |
2.95 |
|
|
Financial
Institutions/ Banks |
80556 |
0.01 |
|
|
Any Other
(specify) |
8440 |
0.00 |
|
|
Foreign
Institutional Investors |
8440 |
0.00 |
|
|
Sub Total B1 |
62105292 |
10.15 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share capital
upto INR 0.200 Million |
7462352 |
1.22 |
|
|
Individual share
capital in excess of INR 0.200 Million |
1398796 |
0.23 |
|
|
Employee Trusts |
11300 |
0.00 |
|
|
Any Other
(specify) |
16232260 |
2.65 |
|
|
NRI |
151754 |
0.02 |
|
|
Clearing Members |
790332 |
0.13 |
|
|
Bodies Corporate |
4493474 |
0.73 |
|
|
Valiant Mauritius
Partners FDI Limited |
10796700 |
1.76 |
|
|
Sub Total B3 |
25104708 |
4.10 |
|
|
B=B1+B2+B3 |
87210000 |
14.25 |
BUSINESS DETAILS
|
Line of Business : |
The Company’s principal activity is to act as an
investment manager to Reliance Mutual Fund (‘the Fund’) and to provide
Portfolio Management Services (‘PMS’) and advisory services. [Registered Activity] |
||||
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
||||
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||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
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Imports : |
Not Divulged |
||||
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|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
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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|
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|
Bankers : |
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
Lodha Excellus Apollo Mills Compound, NM Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary of
Holding Company: |
· Reliance Asset Management (Singapore) Pte. Limited · Reliance Asset Management (Mauritius) Limited · Reliance Capital Pension Fund Limited · Reliance AIF Management Company Limited · Reliance Capital Trustee Co. Limited · Reliance General Insurance Company Limited · Reliance Nippon Life Insurance Company Limited (formerly Reliance Life Insurance Company Limited) · Reliance Commercial Finance Limited (formerly Reliance Gilts Limited) · Reliance Money Precious Metals Private Limited · Reliance Home Finance Limited · Reliance Securities Limited · Reliance Commodities Limited · Reliance Financial Limited · Reliance Wealth Management Limited · Reliance Money Solutions Private Limited · Reliance Exchangenext Limited · Reliance Spot Exchange Infrastructure Limited · Reliance Capital AIF Trustee Company Private Limited · Quant Capital Private Limited · Quant Broking Private Limited · Quant Securities Private Limited · Quant Investment Services Private Limited |
|
|
|
|
Subsidiary Company: |
· Reliance Asset Management (Singapore) Pte Limited · Reliance Asset Management (Mauritius) Limited · Reliance Asset Management (UK) Limited ( upto 14th June 2016) · Reliance Capital Pension Fund Limited · Reliance AIF Management Company Limited |
|
|
|
|
Holding company: |
Reliance Capital Limited [L65910MH1986PLC165645] |
|
|
|
|
Fellow Subsidiary
company: |
· Reliance Money Solutions Private Limited [U72900MH2000PTC128384] · Reliance Nippon Life Insurance Company Limited [U66010MH2001PLC167089] · Reliance Securities Limited [U65990MH2005PLC154052] · RELIANCE Commercial Finance Limited [U66010MH2000PLC128301] · Reliance General Insurance Company Limited [U66603MH2000PLC128300] |
|
|
|
|
Enterprises which are owned, or have
Significant influence of or are partners with Key management personnel and
their relatives: |
· Nippon Life Insurance Company · Reliance IDC Limited [U72900MH2001PLC131600] · Reliance Webstore Limited [U72900MH2000PLC128101] · Zapak Digital Entertainment Limited [U99999MH2005PLC158036] · Reliance Communications Limited [L45309MH2004PLC147531] · Reliance Communications Infrastructure Limited [U64203MH1997PLC166329] |
CAPITAL STRUCTURE
AFTER 28.06.2017
Authorised Capital : INR 10300.000 Million
Issued, Subscribed & Paid-up Capital : INR 6120.000
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
|
3000000 |
Preference Shares |
INR 100/- each |
INR 300.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 420.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11520000 |
Equity Shares |
INR 10/- each |
INR 115.200 Million |
|
3000000 |
Preference Shares |
INR 100/- each |
INR 300.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 415.200
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
415.200 |
415.200 |
412.700 |
|
(b) Reserves and Surplus |
18088.326 |
14040.575 |
13045.854 |
|
(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) |
18503.526 |
14455.775 |
13458.554 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
112.114 |
74.405 |
32.121 |
|
Total Non-current
Liabilities (3) |
112.114 |
74.405 |
32.121 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1031.667 |
588.542 |
860.759 |
|
(c) Other
current liabilities |
454.454 |
711.745 |
455.455 |
|
(d) Short-term
provisions |
96.846 |
3035.892 |
1831.054 |
|
Total Current
Liabilities (4) |
1582.967 |
4336.179 |
3147.268 |
|
|
|
|
|
|
TOTAL |
20198.607 |
18866.359 |
16637.943 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
84.771 |
83.335 |
42.275 |
|
(ii)
Intangible Assets |
2424.520 |
33.577 |
26.714 |
|
(iii) Tangible assets
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 |
6366.487 |
5615.943 |
4338.947 |
|
(c) Deferred tax assets (net) |
75.873 |
122.120 |
121.281 |
|
(d)
Long-term loans and advances |
1368.933 |
3771.893 |
2950.391 |
|
(e) Other
Non-current assets |
72.909 |
77.523 |
39.375 |
|
Total Non-Current
Assets |
10393.493 |
9704.391 |
7518.983 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
3371.148 |
3641.198 |
4110.069 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
406.491 |
469.948 |
155.782 |
|
(d) Cash and
bank balances |
47.424 |
418.271 |
242.870 |
|
(e)
Short-term loans and advances |
5709.988 |
4492.991 |
4442.248 |
|
(f) Other
current assets |
270.063 |
139.560 |
167.991 |
|
Total
Current Assets |
9805.114 |
9161.968 |
9118.960 |
|
|
|
|
|
|
TOTAL |
20198.607 |
18866.359 |
16637.943 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
12696.333 |
11641.972 |
8218.472 |
|
|
Other Income |
1308.039 |
1068.725 |
1082.678 |
|
|
TOTAL |
14004.372 |
12710.697 |
9301.150 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
1815.626 |
2018.039 |
1510.880 |
|
|
CSR expenditure |
90.000 |
76.730 |
69.427 |
|
|
Other expenses |
6099.169 |
5610.864 |
3129.213 |
|
|
Exceptional items |
0.000 |
4.029 |
1.675 |
|
|
Extraordinary items |
0.000 |
0.000 |
29.139 |
|
|
TOTAL |
8004.795 |
7709.662 |
4740.334 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
5999.577 |
5001.035 |
4560.816 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5999.577 |
5001.035 |
4560.816 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
178.487 |
42.320 |
127.638 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
5821.090 |
4958.715 |
4433.178 |
|
|
|
|
|
|
|
Less |
TAX |
1773.340 |
1256.961 |
859.837 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
4047.750 |
3701.754 |
3573.341 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
PMS and Advisory Fees |
262.345 |
199.779 |
48.910 |
|
|
TOTAL EARNINGS |
262.345 |
199.779 |
48.910 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
351.37 |
321.33 |
323.21 |
|
|
Diluted |
351.37 |
321.33 |
3222.82 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
7067.490 |
3735.156 |
630.569 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
5573.748 |
2322.661 |
(337.291) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
11.69 |
14.73 |
6.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
31.23 |
24.77 |
52.76 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.39 |
42.78 |
66.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.08 |
0.23 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.09 |
0.30 |
0.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.14 |
0.01 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
31.88 |
31.80 |
43.48 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
20.04 |
19.62 |
21.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
21.88 |
25.61 |
26.55 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
6.19 |
2.11 |
2.90 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
6.19 |
2.11 |
2.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.92 |
0.77 |
0.81 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
6.19 |
2.11 |
2.90 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
|
|
|
Market Value |
INR 279.35/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
412.700 |
415.200 |
415.200 |
|
Reserves & Surplus |
13045.854 |
14040.575 |
18088.326 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
13458.554 |
14455.775 |
18503.526 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
8218.472 |
11641.972 |
12696.333 |
|
|
|
41.656 |
9.057 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
8218.472 |
11641.972 |
12696.333 |
|
Profit/ (Loss) |
3573.341 |
3701.754 |
4047.750 |
|
|
43.48
% |
31.80
% |
31.88
% |
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 |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
CHANGE OF ADDRESS:
The Registered address of the Company has been shifted from 'H' Block,
1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Mumbai –
400710, Maharashtra, India to the present address.
BACKGROUND
The Company was incorporated on 24 February 1995.
The principal shareholder of the Company as at 31 March 2017 is Reliance Capital Limited.
The Company’s principal activity is to act as an investment manager to Reliance Mutual Fund (‘the Fund’) and to provide Portfolio Management Services (‘PMS’) and advisory services to clients under Securities and Exchange Board of India (SEBI) Regulations. The Company is registered with SEBI under the SEBI (Mutual Funds) Regulations, 1996. The Company manages the investment portfolio of the Fund and provides various administrative services to the Fund as laid down in the Investment Management Agreement dated 12 August 1997.
ACQUISITION OF SCHEMES OF GOLDMAN SACHS
MUTUAL FUND
During the year, the company consummated the transaction to take over the asset management rights of the schemes of Goldman Sachs Mutual Fund in India(“GSMF”),from the asset management company and the trustee Company of GSMF. Overall 12 (twelve) schemes were transferred o the Company. The said transfer of schemes was also accompanied with taking over a team of 20 people/ employees of GSMF. With the acquisition of the said schemes, along with human capital of a cumulative work experience of 290 years, the Company has augmented its strength in exchange traded fund space and the Company hopes to grow from strength to strength in this niche space.
OPERATIONAL
HIGHLIGHTS
ASSET MANAGEMENT:
In terms of the authorization from SEBI, the Company acts as the asset manager to Reliance Mutual Fund (“RMF”), which is the third largest Mutual Fund in India, in terms of the Quarterly Average Assets under Management (QAAUM)asonMarch31,2017.
The QAAUM of RMF as on March 31, 2017 was approx. INR 2108910.000 million comprising of INR 570110.000 million of Equity, INR 1031370.000 million of Debt, INR 379950.000 million of Liquid Funds and INR 127480.000 million of ETF assets. It may be noted that the QAAUM of RMF as on March 31, 2016 was approx. INR 1584080.000 million comprising of INR 476680.000 million of Equity, INR 754220.000 million of Debt, INR 335430.000 million of Liquid Funds; and INR 17750.000 million of ETF assets.
Overall QAAUM of RMF has shown positive growth of around 33.1% during the financial year 2016-17, while the Indian Mutual Fund Industry witnessed an overall positive growth of approx 35.2% in terms of QAAUM (Source: AMFI).
NEW SCHEMES
LAUNCHED:
During the year, RMF launched the following new schemes:
|
Scheme Name |
Type |
Structure |
|
Reliance Fixed Horizon Fund – XXXI |
Debt |
Close - ended |
|
Reliance Fixed Horizon Fund – XXXII |
Debt |
Close - ended |
|
Reliance Fixed Horizon Fund - XXXXIII |
Debt |
Close - ended |
|
Reliance Dual Advantage Fixed Tenure Fund X |
Debt |
Close - ended |
|
Reliance ETF Long Term Gilt |
ETF |
Close - ended |
As on March 31, 2017, RMF has a well rounded portfolio of 90 schemes under various categories such as Equity, Debt, Exchange Traded Fund, Fixed Maturity Plans and Interval Funds.
PORTFOLIO MANAGEMENT:
The Company has been rendering Portfolio Management Services (“PMS”) since August 2004. It currently offers discretionary and advisory portfolio management services to various categories of clients. The PMS business continued its positive performance through the year. As at the year end, the total AUM of the PMS business (including discretionary and advisory services and also including EPFO and CMPFO portfolio) stood at INR 1425100.000 million as against INR 1236310.00 million for the last financial year.
Going forward, the PMS division of the Company will endeavor to identify suitable opportunities for launching equity portfolios and rendering investment advisory services. Our focus on providing customized offerings to high net-worth individuals & corporates will continue via PMS in Financial Year 2017-18.
The Company is one of the four fund houses who are managing the prestigious Employees Provident Fund Organization (EPFO) mandate since last few years. As on March 31, 2017, the EPFO portfolio stood at INR 1217480.000 million and CMPFO stood at INR 207620.000 million.
ALTERNATIVE INVESTMENT BUSINESS:
Alternative Assets remains an area of great interest in investment management space. The term Alternative Assets, is generally used to describe all assets other than the conventional listed equity and investment grade debt. Hence, this includes non-conventional/ non-benchmarked strategies in equities, non-investment grade debt/ high yield debt, assets like real estate, commodities, distress debt, etc. Reliance AIF Management Company Limited (“RAIF”), which is a subsidiary of the Company, is engaged in this business of managing alternative investment funds.
During the year, RAIF has undertaken final closure of Reliance Yield Maximiser AIF Scheme III, its third scheme in the Secured Real Estate space. To date, a total commitment of ~ INR 13000.000 million has been raised across all offerings. During the year, RAIF has aimed to diversify across asset classes and have launched two additional schemes in the Sector Agnostic Debt and Commercial Real Estate space respectively. Going forward, RAIF will continue to focus on profitable growth and include more asset classes.
INTERNATIONAL BUSINESS:
GLOBAL ECONOMIC ENVIRONMENT:
Year 2016-17 has been an eventful year from the Global social and economic perspective. From concerns around hard landing of the Chinese economy to Brexit event to a rise in the negative yield-bearing assets globally to the stupendous demonetization drive in India to the U Spresidential election victory of Donald Trump, the year has been action-packed to say the least.
Despite the volatility, Indian economy appears well primed to continue its journey towards a sustainable recovery with the Nifty starts recovering in the last quarter of the year 2016-17.
After a lackluster out-turn in the year 2016-17, economic activity is projected to pick up pace in 2017-18, especially in emerging markets and developing economies. The economic recovery in India is strongly supported by favorable factors like fiscal stability, lower inflation, policy reforms like demonetization, passage of the GST bill, modification in FDI policy and continued Government spending.
AWARDS AND RECOGNITION
During the year, the Company and the Reliance Mutual Fund have been bestowed with the following awards and recognitions:
Stevie Award in the following categories:
· Innovation in Customer Service - Financial Services Industries (Status: Silver Stevie Winner)
· National Sales Team of the Year (Status: Bronze Stevie Winner);
· Reliance Mutual Fund featured in Best BFSI Brands 2016 by Economic Times;
· Finnoviti Award 2017 for ‘Simply Save & Instant Redemption’ mobile solutions;
· National Awards for Excellence in Digital Marketing & Social Media - Best Progressive Digital Marketing Company;
· National Awards to Reliance Mutual Fund for Excellence in Digital Marketing & Social Media - Simply Save - Digital Application of the year;
· BBC Knowledge - National Digital Marketing Awards - Best Financial Website to Reliance Mutual Fund;
· BBC Knowledge - National Digital Marketing Awards - Best Consumer Mobile App to Reliance Mutual Fund;
· Asset Benchmark Research Awards - Top Investment Houses in Asian Local Currency Bonds, India, Rank 3;
· The Company featured in Economic Times Coffee Table Book as Mumbai’s Trending Workplaces for Organization Creating an Enabling Culture of the employees.
FUTURE OUTLOOK
During the year, the Indian Mutual Fund Industry witnessed an overall positive growth of approx. 35% in terms of QAAUM, from an amount of approx. INR 13534440.000 million as at March 31, 2016 to an amount of approx. INR 18295830.000 million as at March 31, 2017 (Source: AMFI) with following:
34.37 Lakh Net New SIPs registered during the Financial Year (as on February 2017) Around 48 Lakh Equity folios have been added this year so far (as on February 2017) Government led various measures (e.g. Demonetization, GST) have already started showing positive impact in the economy. The Mutual Fund Industry has reflected stronger growth this year.
It has been a good year for the Company, as well. The Company continues to be amongst the largest AMCs managing assets of around INR 3558000.000 million (USD 55 Billion) across Mutual Funds, PMS, Pension Funds and Offshore strategies. The Company continues to aggressively pursue growth opportunities in the fund management and investment advisory space, both at domestic as well as at the international level.
There is significant growth potential for mutual fund Industry. There are only 5.4 Cr investor folios reflecting deep under penetration in adoption of mutual fund products in India. They continue to focus on geographical and retail penetration. Their Industry first initiative “Mutual Fund Day” is directed effort to increase retail participation across the country. As per latest data available on AMFI, over 85% of the Industry AUM originates from the Top 15 cities. This provides opportunities for expansion in smaller locations. The Company has been focusing on bringing new investors to unlock untapped potential. Inline with the SEBI regulations, they intend to improve penetration levels in Tier III, Tier IV locations and increase use of technology to improve the investor experience.
The smart phone user base in India is growing rapidly and provides them an opportunity to connect with large investor base through their digital interfaces. The digital space has the potential to significantly improve the service quality and also help ease in first-time investors to the Industry.
The Company has one of the most integrated Digital platforms in the Industry, and they intend to continue building on it to further improve the investors’ experience. Being one of the largest players in the Industry, the Company will continue investing in growing the market size, achieving product innovation, educating the investors, increasing the distribution reach and enhancing customer service infrastructure with aggressive expansion strategies.
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULT FOR THE QUARTER AND
NINE MONTHS ENDED DECEMBER 31, 2017
(INR IN MILLION)
|
Particulars |
Quarter Ended |
Nine Months Ended |
|
|
|
31.12.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
Revenue |
|
|
|
|
Revenue from operations |
3940.000 |
3720.000 |
1120.000 |
|
Other income |
610.000 |
510.000 |
1370.000 |
|
Total revenue |
4550.000 |
4230.000 |
12570.000 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Employee benefit expenses |
560.000 |
520.000 |
1450.000 |
|
Administration and other expenses |
770.000 |
700.000 |
2200.000 |
|
Marketing and publicity expense |
1270.000 |
1190.000 |
3610.000 |
|
Depreciation and amortization expense |
90.000 |
80.000 |
250.000 |
|
Total expenses |
2690.000 |
2490.000 |
7510.000 |
|
|
|
|
|
|
Profit before tax |
1860.000 |
1740.000 |
5060.000 |
|
|
|
|
|
|
Tax expense |
|
|
|
|
Current tax |
540.000 |
520.000 |
1470.000 |
|
(Excess)/ short precision of tax relating to earlier years (net) |
20.000 |
0.000 |
20.000 |
|
Deferred tax |
20.000 |
20.000 |
60.000 |
|
Total tax expenses |
580.000 |
540.000 |
1540.000 |
|
|
|
|
|
|
Net profit after
tax |
128.000 |
1200.000 |
3520.000 |
|
|
|
|
|
|
Earning per equity
share face value of INR 10 each fully paid (not annualized) |
|
|
|
|
Basic |
2.15 |
2.04 |
5.93 |
|
Diluted |
2.15 |
2.04 |
5.92 |
NOTES:
1. The Company has issued bonus shares of 50 Equity shares for every one Equity share held on the record date i.e. August 10, 2017 through capitalisation of amount standing to the credit of capital redemption reserve account and securities premium account. Accordingly, the Company has issued 57,60,00,000 equity shares as bonus shares during the quarter ended September 30, 2017. The Earning Per Share figures for the quarter and nine months ended December 31, 2016 have been restated to give effect to the allotment of the bonus shares, as required by Accounting Standard (AS 20) - Earnings per share.
2. Pursuant to Initial Public offering ('IPO'), sale of 6,12,00,000 equity
shares of face value of INR. 10 each at INR. 252 per equity share consisting of
fresh issue of 2,44,80,000 equity shares and offer for sale by Reliance Capital
Limited and Nippon Life Insurance Company ('selling shareholders') of
1,12,30,200 equity shares and 2,54,89,800 equity shares, respectively was
completed. The equity shares of the Company were listed on National Stock
Exchange Limited ('NSE') and Bombay Stock Exchange Limited ('BSE') on November
6, 2017.
3. The details of utilisation of IPO proceeds INR 5888.500 million (net of IPO
related expenses) are as follows:
|
Particulars |
Net Proceeds as per
IPO |
Utilised upto
December 31, 2017 |
Unutilised amount
as of December 31, 2017 |
|
Setting up new branches and relocating certain existing branches |
383.100 |
0.000 |
383.100 |
|
Upgrading the IT system |
406.500 |
0.000 |
406.500 |
|
Advertising, marketing and brand building activities |
720.900 |
0.000 |
720.900 |
|
Lending to our Subsidiary (Reliance AIF Management Company Limited) for investment of continuing interest in the new AIF schemes managed by Reliance AIF Management Company Limited |
1250.000 |
0.000 |
1250.000 |
|
Investing towards our continuing interest in new mutual fund schemes |
1000.000 |
300.000 |
700.000 |
|
Funding inorganic growth and strategic initiatives |
1650.000 |
0.000 |
1650.000 |
|
General corporate purposes |
478.000 |
398.900 |
79.100 |
|
Total |
5888.500 |
698.900 |
5189.600 |
4. The Company had estimated INR. 512.600 million (inclusive of taxes) as IPO expenses. Of such IPO related expenses, certain expenses (such as Counsel Fees, Auditor Fees, Marketing, Printing & Stationery) aggregating to INR 182.000 million (inclusive of taxes) are directly attributable to the Company. Remaining IPO related expenses aggregating to INR 330.600 million (inclusive of taxes), have been allocated between the Company and selling shareholders in proportion to equity shares offered by them. Expenses to be borne by the selling shareholder has been shared equally by both the shareholders. Till December 31, 2017 an amount of INR 443.300 million is paid against IPO related expenses and the balance will be paid in due course. As at December 31, 2017, the total expenses attributable to the Company of INR 280.400 million has been adjusted against Securities Premium Account.
5.The Company is in the business of providing asset management services to the
Reliance Mutual Fund and portfolio management service to clients. The primary
segment is identified as asset management services. As such the Company’s
financial statements is largely reflective of the asset management business and
there is no separate reportable segment.
Pursuant to Accounting Standard (AS 17) Segment Reporting, no segment
disclosure has been made in these financial statements, as the Company has only
one geographical segment and no other separate reportable business
segment.
6. The Board of Directors at its meeting held on January 16, 2018 has approved
an Interim dividend of INR 5/- per equity share.
7. The Standalone Financial Results for the quarter and nine months ended
December 31, 2017 of the Company is subject to "Limited Review" by
the Statutory Auditors of the Company.
8.The above results were reviewed by the Audit committee and approved by the
Board of Directors at its meeting held on January 16, 2018.
9. Previous period's / year's figures have been regrouped / reclassified wherever
necessary to conform current period's classification / disclosure.
10. The amounts reflected as "0" in the Financial Results are values
with less than rupees one million.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Guarantees to Banks and Financial Institutions (against Fixed deposits) |
111.094 |
110.900 |
|
Claims against the Company not acknowledged as debts |
58.722 |
50.576 |
|
|
|
|
|
|
|
|
|
Total |
169.816 |
161.476 |
FIXED ASSETS:
- Furniture and fixtures
- Vehicles
- Computer Equipment’s
- Office equipment
- Leasehold improvements
- Furniture and fixtures
PRESS RELEASE
RELIANCE NIPPON LIFE
ASSET MANAGEMENT PLANS IPO IN 2017-18, TO SELL 10% STAKE
Jun 08 2017
Mumbai: Reliance Nippon Life Asset Management Ltd, India’s third largest mutual fund manager, plans to sell shares amounting to a 10% stake in an initial public offering (IPO) as it seeks to tap an equity boom that has propelled stock prices to record highs.
The share sale will happen in 2017-18 and the company would sell more shares over the next four years, adding up to a 25% stake by 2021, chief executive Sundeep Sikka said at a press conference on Wednesday.
“The idea is to be in a state of readiness for both growth opportunities that lies ahead and even more (for) the consolidation that will happen,” Sikka said, offering a rationale for the fund raising.
“The proceeds will be used for both organic and inorganic opportunities and growth for this company,” added Sikka. The asset management company (AMC) will now approach the Securities and Exchange Board of India for approval.
An investment banker, who did not wish to be identified, said the company could be valued at around 5% of assets under management (AUM), as is the case with most AMCs.
Reliance Nippon Life Asset Management’s AUM is around INR 3.6 trillion, giving it a valuation of about INR 180000.000 Million at 5% of AUM.
Sikka said Reliance and Nippon Life would both participate in the IPO, but added that the two would continue their shareholding in equal proportion after the listing.
Reliance Capital owns 51% of the company and Nippon Life 49%, according to Sikka.
“It is a very good development. We have not had a listing of an AMC for ages. With the rising size of industry, listing will bring more transparency to the business,” said Prithvi Haldea, founder and chairman of Prime Database, which tracks the primary market.
“I believe gradually other AMCs will follow suit, and it gives them more strength by infusing more capital too... Elsewhere in the developed world, most AMCs are usually listed,” added Haldea.
India’s mutual fund industry has around Rs19 trillion worth of assets under management, up from around Rs14 trillion three years ago.
The number is expected to cross INR 20 trillion this year.
The BSE Sensex has risen from 26,595.45 on 2 January to 31,271.28 on 7 June.
Reliance Nippon Life Asset Management is the only AMC to have the mandate for fund management by the Employees’ Provident Fund Organisation, the Pension Fund Regulatory and Development Authority and the Coal Mines Provident Fund Organisation.
The mutual fund house managed INR 3.58 trillion of assets as on 31 March.
It also acts as the adviser for India-focused equity and fixed income funds in Japan, launched by Nissay Asset Management Corp., and South Korea, launched by Samsung Asset Management.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.
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 records 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
|
INR |
|
US Dollar |
1 |
INR 64.13 |
|
UK Pound |
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.