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|
MIRA INFORM REPORT
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Report No. : |
492516 |
|
Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
KOTAK MAHINDRA BANK LIMITED (w.e.f. 21.03.2003) |
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Formerly Known As
: |
KOTAK MAHINDRA FINANCE LIMITED (w.e.f. 08.04.1986) KOTAK CAPITAL MANAGEMENT FINANCE LIMITED |
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Registered
Office : |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-66056825/ 66581100 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
21.11.1985 |
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Com. Reg. No.: |
11-038137 |
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Capital
Investment / Paid-up Capital : |
INR 9204.489 Million |
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CIN No.: [Company Identification
No.] |
L65110MH1985PLC038137 |
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IEC No.: |
0396038506 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK4409J |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Bank. The Bank’s Shares are Listed on the
Stock Exchanges. |
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Line of Business
: |
Subject provides a full suite of banking services to its customers
encompassing Retail Banking, Treasury and Corporate Banking. (Registered
Activity) |
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No. of Employees
: |
33013 (Approximately) |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Kotak Mahindra Bank Limited is a flagship of Kotak Group and was incorporated in the year 1985. It is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, Reserve Bank of India (RBI) gave the licence to Kotak Mahindra Finance Limited., the group's flagship company, to carry on banking business. With this, Kotak Mahindra Finance Limited became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited.
|
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 |
Lower Tier II Bonds=AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
27.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Certified of Deposits=A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
27.11.2017 |
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 19.02.2018
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 DENIED BY
|
Name : |
Mr. Subodh |
|
Designation : |
Trade Department |
|
Contact No.: |
91-22-66581100 |
|
Date : |
15.02.2018 |
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-61660001)
LOCATIONS
|
Registered Office : |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66056825/ 66581100/ 61660001 |
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Fax No.: |
91-22-67132403 |
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E-Mail : |
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Website : |
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Representative Office: |
Located at:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Uday Suresh Kotak |
|
Designation : |
Managing Director |
|
Address : |
62, NCPA Apartments, Sir Dorabji Tata Marg, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Date of Appointment : |
21.11.1985 |
|
DIN No.: |
00007467 |
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Name : |
Mr. Dipak Gupta |
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Designation : |
Whole-time Director |
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Address : |
Flat No. 32, A - Wing, Tanna Residency, 392, Veer Savarkar Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Appointment : |
01.10.1999 |
|
DIN No.: |
00004771 |
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|
Name : |
Mr. Chengalath Jayaram |
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Designation : |
Director |
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Address : |
Satguru Simran, 7th Floor, 3rd Road, Almeida Park, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Appointment : |
01.10.1999 |
|
DIN No.: |
00012214 |
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|
Name : |
Mr. Shankar Nath Acharya |
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Designation : |
Director |
|
Address : |
S-523A, Second Floor, Greater Kailash 2, New Delhi-110048, India |
|
Date of Appointment : |
20.05.2003 |
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DIN No.: |
00033242 |
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|
Name : |
Mr. Uday Chander Khanna |
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Designation : |
Director |
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Address : |
Centrum Towers, Flat 182, Centrum Co-Operative Society Limited, Barkat Ali Road, Wadala, Mumbai-400037, Maharashtra, India |
|
Date of Appointment : |
16.09.2016 |
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DIN No.: |
00079129 |
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Name : |
Mr. Prakash Krishnaji Apte |
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Designation : |
Director |
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Address : |
Flat No. 803, Wing - B, Blossom Boule Vard Koregaon Park, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
00196106 |
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|
Name : |
Mr. Amit Krishnakant Desai |
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Designation : |
Director |
|
Address : |
7 Shivthirth No. 16 B, Desai Road, Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
00310510 |
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|
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|
Name : |
Mr. Mark Edwin Newman |
|
Designation : |
Director |
|
Address : |
House 11, Kay Siang Road Singapore 248928 SG |
|
Date of Appointment : |
05.05.2015 |
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DIN No.: |
03518417 |
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|
Name : |
Mr. Mahendra Dev Sanjeeva Suryadevara |
|
Designation : |
Director |
|
Address : |
Directors Qtrs, Igidr Campus, Gen A. K. Vaidya Marg, Goregaon (East), Mumbai-400065, Maharashtra, India |
|
Date of Appointment : |
05.03.2013 |
|
DIN No.: |
06519869 |
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|
|
|
Name : |
Mrs. Farida Dara Khambata |
|
Designation : |
Director |
|
Address : |
3224 R Street N.W. Washington D.C. Washington 20007 US |
|
Date of Appointment : |
07.09.2014 |
|
DIN No.: |
06954123 |
KEY EXECUTIVES
|
Name : |
Bina Chandarana |
|
Designation : |
Company Secretary and Senior Executive Vice President |
|
Address : |
4/22, Alka Building, B Road, Mumbai-400020, Maharashtra, India |
|
Date of Appointment : |
19.03.2008 |
|
PAN No.: |
AACPC1607K |
|
|
|
|
Name : |
Mr. Subodh |
|
Designation : |
Trade Department |
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) Promoter and Promoter
Group |
572465964 |
30.06 |
|
|
(B) Public |
1332237816 |
69.94 |
|
|
Grand
Total |
1904703780 |
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 |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
571841408 |
30.02 |
|
|
UDAY SURESH KOTAK |
566927100 |
29.76 |
|
|
SURESH A KOTAK (HUF) |
110000 |
0.01 |
|
|
PALLAVI KOTAK |
1111580 |
0.06 |
|
|
SURESH AMRITLAL KOTAK |
200000 |
0.01 |
|
|
INDIRA SURESH KOTAK |
2300000 |
0.12 |
|
|
DINKARRAI KALIDAS DESAI |
793508 |
0.04 |
|
|
KUSUM DINKARRAI DESAI |
298260 |
0.02 |
|
|
JANAK DINKARRAI DESAI |
43600 |
0.00 |
|
|
AARTI NEAL CHANDARIA |
57360 |
0.00 |
|
|
Any Other (specify) |
624556 |
0.03 |
|
|
KOTAK TRUSTEE COMPANY
PRIVATE LIMITED BENEFICIAL OWNER UDAY S KOTAK |
624556 |
0.03 |
|
|
Sub Total A1 |
572465964 |
30.06 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
572465964 |
30.06 |
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 |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
133413641 |
7.00 |
|
|
SBI MUTUAL FUND |
29311793 |
1.54 |
|
|
Alternate Investment
Funds |
1594170 |
0.08 |
|
|
Foreign Portfolio
Investors |
750680498 |
39.41 |
|
|
EUROPACIFIC GROWTH FUND |
94161246 |
4.94 |
|
|
OPPENHEIMER DEVELOPING
MARKETS FUND |
33104945 |
1.74 |
|
|
NEW WORLD FUND INC |
21726619 |
1.14 |
|
|
CAPITAL WORLD GROWTH AND
INCOME FUND |
30148585 |
1.58 |
|
|
CAISSE DE DEPOT ET
PLACEMENT DU QUEBEC |
22257400 |
1.17 |
|
|
CANADA PENSION PLAN
INVESTMENT BOARD |
115163850 |
6.05 |
|
|
Financial Institutions/
Banks |
4284992 |
0.22 |
|
|
Insurance Companies |
31347157 |
1.65 |
|
|
Sub Total B1 |
921320458 |
48.37 |
|
|
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 |
84553436 |
4.44 |
|
|
Individual share capital
in excess of INR 0.200 Million |
105076088 |
5.52 |
|
|
NBFCs registered with RBI |
1267805 |
0.07 |
|
|
Any Other (specify) |
220020029 |
11.55 |
|
|
Trusts |
9497876 |
0.50 |
|
|
Overseas corporate bodies |
8406960 |
0.44 |
|
|
NRI – Repat |
4208594 |
0.22 |
|
|
NRI – Non- Repat |
2813009 |
0.15 |
|
|
Clearing Members |
1614169 |
0.08 |
|
|
Bodies Corporate |
61024876 |
3.20 |
|
|
I E P F |
2452525 |
0.13 |
|
|
FOREIGN BODIES-DR |
34400 |
0.00 |
|
|
FOREIGN BANK |
32800000 |
1.72 |
|
|
SUMITOMO MITSUI BANKING
CORPORATION |
32800000 |
1.72 |
|
|
FOREIGN CORPORATE BODIES |
97166170 |
5.10 |
|
|
CALADIUM INVESTMENT PTE
LTD |
25966992 |
1.36 |
|
|
ING MAURITIUS INVESTMENTS
I |
71199178 |
3.74 |
|
|
FOREIGN NATIONALS |
1450 |
0.00 |
|
|
Sub Total B3 |
410917358 |
21.57 |
|
|
B=B1+B2+B3 |
1332237816 |
69.94 |
BUSINESS DETAILS
|
Line of Business : |
Subject provides a full suite of banking services to its customers
encompassing Retail Banking, Treasury and Corporate Banking. (Registered
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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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
33013 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400 028, Maharashtra, India |
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Tel. No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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|
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|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
|
|
|
Subsidiary
Companies : |
|
|
|
|
|
Associates / Others
: |
|
|
|
|
|
Enterprises over
which KMP / relatives of KMP have control / significant influence : |
|
CAPITAL STRUCTURE
As on 20.07.2017
Authorised Capital : INR
15000.000 Million
Issued, Subscribed & Paid-up Capital : INR 9526.380
Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
INR 5/- each |
INR 15000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1840897877 |
Equity Shares |
INR 5/- each |
INR 9204.489
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
CAPITAL AND LIABILITIES |
|
|
|
|
Capital |
9204.489 |
9171.911 |
3861.763 |
|
Employees' Stock Options (Grants) Outstanding |
18.676 |
34.136 |
29.969 |
|
Reserves and Surplus |
266956.201 |
230418.691 |
137549.099 |
|
Deposits |
1574258.599 |
1386430.224 |
748603.088 |
|
Borrowings |
210954.809 |
209753.382 |
121497.132 |
|
Other Liabilities and Provisions |
84506.802 |
86789.561 |
48579.696 |
|
Total |
2145899.576 |
1922597.905 |
1060120.747 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Cash and Balances with Reserve Bank of |
74924.258 |
69034.348 |
39282.964 |
|
Balances with Banks and Money at Call and Short Notice |
150795.841 |
39762.806 |
23340.613 |
|
Investments |
450741.873 |
512602.202 |
286591.051 |
|
Advances |
1360821.288 |
1186652.952 |
661607.126 |
|
Fixed Assets |
15376.279 |
15515.922 |
12067.051 |
|
Other Assets |
93240.037 |
99029.675 |
37231.942 |
|
Total |
2145899.576 |
1922597.905 |
1060120.747 |
|
Contingent Liabilities |
1930675.359 |
2426102.845 |
636721.604 |
|
Bills for Collection |
203182.634 |
149640.490 |
44199.924 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I. INCOME |
|
|
|
|
Interest earned |
176989.329 |
163841.838 |
97198.670 |
|
Other Income |
34771.584 |
26122.341 |
20284.539 |
|
Total |
211760.913 |
189964.179 |
117483.209 |
|
|
|
|
|
|
II. EXPENDITURE |
|
|
|
|
Interest expended |
95727.841 |
94838.100 |
54961.348 |
|
Operating expenses |
56184.953 |
54715.197 |
32547.314 |
|
Provisions and
Contingencies |
25733.141 |
19513.092 |
11314.761 |
|
Total |
177645.935 |
169066.389 |
98823.423 |
|
|
|
|
|
|
III. PROFIT |
|
|
|
|
Net Profit for the year |
34114.978 |
20897.790 |
18659.786 |
|
Add: Balance in Profit and Loss Account brought
forward from previous year |
82141.193 |
50952.636 |
40052.917 |
|
Add: Additions on Amalgamation |
0.000 |
18000.896 |
0.000 |
|
Less: Adjustments on Amalgamation |
0.000 |
1253.799 |
0.000 |
|
Total |
116256.171 |
88597.523 |
58712.703 |
|
|
|
|
|
|
IV. APPROPRIATIONS |
|
|
|
|
Transfer to Statutory Reserve |
8528.800 |
5224.500 |
4665.000 |
|
Transfer to General Reserve |
0.000 |
0.000 |
933.000 |
|
Transfer to Capital Reserve |
105.500 |
91.700 |
59.100 |
|
Transfer to Special Reserve u/s 36(1)(viii) of Income Tax Act, 1961 |
550.000 |
450.000 |
280.000 |
|
Transfer to / (from) Investment Reserve Account |
(484.902) |
(415.180) |
866.500 |
|
Proposed Dividend |
0.702 |
918.355 |
820.654 |
|
Corporate Dividend Tax |
(6.831) |
186.955 |
135.813 |
|
Balance carried over to Balance Sheet |
107562.902 |
82141.193 |
50952.636 |
|
Total |
116256.171 |
88597.523 |
58712.703 |
|
|
|
|
|
|
V. EARNINGS PER SHARE (FACE VALUE OF INR 5/-) |
|
|
|
|
Basic |
18.57 |
11.42 |
12.10 |
|
Diluted |
18.55 |
11.40 |
12.07 |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Unaudited |
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Interest Earned |
46557.800 |
47601.400 |
50092.000 |
|
Income On Investments |
8857.900 |
9734.000 |
9607.800 |
|
Interest On Balances With Rbi Other Inter Bank Funds |
2152.700 |
1490.900 |
2072.300 |
|
Interest / Discount On Advances / Bills |
34781.500 |
35594.700 |
37658.800 |
|
Others |
765.700 |
781.800 |
753.100 |
|
Other Income |
9068.800 |
9538.800 |
10398.200 |
|
Total Income |
55626.600 |
57140.200 |
60490.200 |
|
Interest Expended |
24102.300 |
24474.800 |
26154.800 |
|
Operating Expenses |
15570.700 |
15417.300 |
16134.900 |
|
Total Expenditure |
15570.700 |
15417.300 |
16134.900 |
|
Operating Profit Before Provisions and Contingencies |
15953.600 |
17248.100 |
18200.500 |
|
Exceptional Items |
NA |
NA |
NA |
|
Provisions and contingencies |
2037.400 |
2165.300 |
2127.700 |
|
Profit Before Tax |
13916.200 |
15082.800 |
16072.800 |
|
Tax |
4788.900 |
5139.700 |
5540.700 |
|
Profit After Tax |
9127.300 |
9943.100 |
10532.100 |
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 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
144076.173 |
61337.216 |
44631.934 |
STOCK
PRICES
|
Face Value |
INR 5.00/- |
|
Market Value |
INR 1054.05/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
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 |
|
Total Income |
117483.209 |
189964.179 |
211760.913 |
|
|
|
61.695 |
11.474 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Total Income |
117483.209 |
189964.179 |
211760.913 |
|
Profit/(Loss) |
18659.786 |
20897.790 |
34114.978 |
|
|
15.88% |
11.00% |
16.11% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
CAPITAL AND LIABILITIES |
|
|
|
|
Capital |
9204.489 |
9171.911 |
3861.763 |
|
Reserves and Surplus |
375703.944 |
324434.499 |
217671.387 |
|
Minority Interest |
4744.261 |
3955.985 |
3356.912 |
|
Employees' Stock Options (Grants) Outstanding |
18.676 |
34.136 |
29.969 |
|
Deposits |
1555399.984 |
1359487.601 |
728434.592 |
|
Borrowings |
496899.092 |
437297.936 |
314148.793 |
|
Policyholders’ Funds |
187928.768 |
151482.783 |
137926.095 |
|
Other Liabilities and Provisions |
131976.373 |
122170.908 |
80328.109 |
|
Total |
2761875.587 |
2408035.759 |
1485757.620 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Cash and Balances with Reserve Bank of |
75122.255 |
69249.004 |
39451.165 |
|
Balances with Banks and Money at Call and Short Notice |
180763.235 |
46745.080 |
29583.250 |
|
Investments |
684615.381 |
702738.989 |
455888.861 |
|
Advances |
1671249.109 |
1447928.152 |
886322.146 |
|
Fixed Assets |
17552.021 |
17575.969 |
13815.528 |
|
Other Assets |
132539.392 |
123764.371 |
60662.476 |
|
Goodwill on Consolidation |
34.194 |
34.194 |
34.194 |
|
Total |
2761875.587 |
2408035.759 |
1485757.620 |
|
Contingent Liabilities |
1961720.654 |
2447118.640 |
664470.942 |
|
Bills for Collection |
203182.634 |
149640.490 |
44199.924 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I. Income |
|
|
|
|
Interest earned |
223242.067 |
204016.360 |
133188.866 |
|
Other Income |
116595.592 |
76307.283 |
81521.957 |
|
Total |
339837.659 |
280323.643 |
214710.843 |
|
|
|
|
|
|
II. Expenditure |
|
|
|
|
Interest expended |
114575.099 |
111229.729 |
69661.022 |
|
Operating expenses |
142454.072 |
108940.849 |
97492.643 |
|
Provisions and
Contingencies |
33317.656 |
25841.852 |
16906.389 |
|
Total |
290346.827 |
246012.430 |
184060.054 |
|
|
|
|
|
|
III. Profit |
|
|
|
|
Net Profit for the year |
49490.832 |
34311.213 |
30650.789 |
|
Less: Share of Minority Interest |
788.276 |
651.942 |
595.122 |
|
Add: Share in profit / (loss) of Associates |
701.782 |
929.217 |
398.835 |
|
Consolidated
Profit for the year attributable to the Group |
49404.338 |
34588.488 |
30454.502 |
|
Add: Balance in Profit and Loss Account brought
forward from previous year |
162238.798 |
118641.309 |
97191.920 |
|
Add: Additions on Amalgamation |
0.000 |
18041.086 |
0.000 |
|
Less: Adjustments on Amalgamation |
0.000 |
1253.799 |
0.000 |
|
Add: MTM Gain on Derivatives (net of tax) |
8.946 |
0.000 |
0.000 |
|
Total |
211652.082 |
170017.084 |
127646.422 |
|
|
|
|
|
|
IV. Appropriations |
|
|
|
|
Transfer to Statutory Reserve |
8528.800 |
5224.500 |
4665.000 |
|
Transfer to Special Reserve u/s 45 IC of RBI Act,
1934 |
1422.600 |
1312.700 |
1227.800 |
|
Transfer to Special Reserve u/s 36(1)(viii) of Income
Tax Act, 1961 |
550.000 |
450.000 |
280.000 |
|
Transfer to General Reserve |
10.000 |
0.000 |
940.500 |
|
Transfer to Capital Reserve |
105.500 |
91.700 |
59.100 |
|
Transfer (from) / to Investment Reserve Account |
(484.902) |
(415.180) |
866.500 |
|
Proposed Dividend |
0.702 |
918.355 |
820.654 |
|
Corporate Dividend Tax |
(6.227) |
196.211 |
145.559 |
|
Balance carried over to Balance Sheet |
201525.609 |
162238.798 |
118641.309 |
|
Total |
211652.082 |
170017.084 |
127646.422 |
|
|
|
|
|
|
V. Earnings Per Share (Face Value of INR 5/-) |
|
|
|
|
Basic |
26.89 |
18.91 |
19.75 |
|
Diluted |
26.86 |
18.87 |
19.70 |
LEGAL CASES
|
Bench:- Bombay |
||||
|
Presentation Date:- 27/06/2017 |
||||
|
Lodging No. : |
ITXAL/1571/2017 |
Failing Date:- |
27/06/2017 |
|
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX-2- |
Respondent:- |
KOTAK MAHINDRA BANK LIMITED (SUCCESSOR , KOTAK MAHINDRA FINANCE LIMITED) |
|
|
Petn.Adv:- |
SURESH KUMAR (I2100) |
|||
|
District:- |
MUMBAI |
|||
|
Bench:- |
SINGLE |
Category:- |
TAX APPEALS |
|
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
|
Last Date:- |
21/09/2017 |
|||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|||
|
|
|
|||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
||
|
Bench:- Bombay |
||||
|
Presentation Date:- 27/06/2017 |
||||
|
Lodging No. : |
ITXAL/1572/2017 |
Failing Date:- |
27/06/2017 |
|
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX-2- |
Respondent:- |
KOTAK MAHINDRA BANK LIMITED (SUCCESSOR , KOTAK MAHINDRA FINANCE LIMITED) |
|
|
Petn.Adv:- |
SURESH KUMAR (I2100) |
|||
|
District:- |
MUMBAI |
|||
|
Bench:- |
SINGLE |
Category:- |
TAX APPEALS |
|
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
|
Last Date:- |
21/09/2017 |
|||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|||
|
|
|
|||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
||
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 |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
BACKGROUND
In February 2003, Kotak Mahindra Finance Limited was given a license to carry out banking business by the Reserve Bank of India (“RBI”). It was the first Non Banking Finance Company (NBFC) in India to be converted into a Bank. Kotak Mahindra Bank Limited (“Kotak Mahindra Bank”, “Kotak” or “the Bank”) provides a full suite of banking services to its customers encompassing Retail Banking, Treasury and Corporate Banking in India and also has a representative office in Dubai. The Bank set up and commenced operations in May 2016, at its International Financial Services Center Banking Unit (IBU) in Gujarat International Finance Tec (GIFT) City, Gujarat which is India’s first global financial and IT services hub designed on the lines of global financial centres.
MANAGEMENT’S
DISCUSSION AND ANALYSIS
Macro-economic
environment
Against the backdrop of global volatilities, India macro fundamentals continued to fare well in FY2017 and steady progress is being made with regard to India’s own medium-term pothential. FY2017 was marked by two major domestic policy developments, demonetisation of specified Bank Notes (SBNs) i.e. INR 500 and INR 1000 bank notes prevailing as on 8th November 2016 and the passage of the Constitutional amendment and follow-up legislation, paving way for GST implementation. On external sector front, current account deficit remains within comfortable limits. Fiscal consolidation at central government level has continued with an improvement in spending quality by shifting expenditures away from current to capital expenditures. However, state government finances appeared to be under stress in FY2017. Inflation eased further, which helped RBI ease 50 bps in FY2017.
Overall, the economic fundamentals have fared reasonably well in FY2017. Despite the short-term costs, Demonetisation holds the potential for longterm benefits. Over the medium term, consistent traction in policy reforms, increasing digitisation and successful GST implementation will improve India’s growth potential.
The growth
environment
On growth front, real GDP seems to have slowed in FY2017 from FY2016. As per CSO, the second advance estimate of growth for FY2017 stood at 7.1% as against the upwardly revised 7.9% in FY2016. On value added basis, real GVA (grossa value added) growth estimate for FY2017 has been revised down to 6.7% from 7.8%. On the positive side, the economy was buoyed by government consumption, as the 7th Pay Commission salary recommendations were implemented. Besides, a good monsoon helped keep agricultural production buoyant. However, private investment has remained anaemic. Ground realities, such as low capacity industrial utilisation, continued debt overhang of corporates and worsening NPA position of banking sector remain the biggest impediment to private investment. Demonetisation also seems to have further added, albeit marginally, to slowdown in growth. A part of real GVA growth slowdown in FY2017 owed to first half which slowed to 6.8% as against 8.1% in same period in FY2016. The Q3FY2017 – the period where demonetisation took place – slowed further to 6.6%.
Domestic price
dynamics
The overall domestic price pressures remained contained in FY2017. The CPI inflation averaged 4.5% in FY2017 (as against 4.9% in FY2016), and has displayed a downward trend, largely helped by sharp correction in food inflation due to good Kharif and pulses production and managed vegetables inflation. Core CPI inflation, on the other hand, has averaged 4.7% in FY2017 as against 4.3% in FY2016. WPI inflation, on the other hand, picked up in FY2017 due to reversal of favourable base effect and pick in oil and other commodity prices. However, for the year as a whole, the CPI inflation was comfortably below the RBI’s target of 5%, a trend partly likely to be helped by demonetisation. Despite easing headline CPI inflation, RBI has now shifted its stance to neutral from accommodative, premised on possible second-round impact of sticky-to-rising core inflation, tighter global financial conditions, foreign exchange volatility and higher commodity prices.
Outlook for Kotak
Group
Kotak Mahindra Group’s results for the financial year demonstrate the strong fundamental growth in India. However, concerns remain on the global economic scenario’s impact on the Indian economy. The Group believes that with sound risk management and strong capital adequacy ratio, India of the future offers opportunities for growth.
The Bank will look forward to capitalise on inorganic opportunities, including acquisition and resolution of stressed assets through, amongst others, potentially participating in a “Bad Bank”, and additional avenues of organic growth such as opportunities in digital expansion, domestic lending, international lending and investments, for growth of subsidiaries.
INDEX
OF CHARGES
|
Charges Registered |
|||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
Y10350056 |
90242419 |
UTI BANK LIMITED |
20/03/2003 |
15/07/2004 |
1800000000.0 |
MAKER TOWER F13TH FLOOR; CUFFE PARADE; COLABA MUMBAI MAHARASHTRA 400005 INDIA |
|
2 |
Y10348590 |
90240953 |
STATE BANK OF PATIALA |
24/01/2003 |
- |
200000000.0 |
COMMERCIAL BRANCHCHANDRALOK BLDG; JANPATH NEW DELHI INDIA |
|
3 |
Y10350041 |
90242404 |
UTI BANK LIMITED |
20/01/2003 |
16/01/2003 |
2950000000.0 |
MAKER TOWER F13TH FLOOR; CUFFE PARADE; COLABA MUMBAI MAHARASHTRA 400005 INDIA |
|
4 |
Y10350022 |
90242385 |
UTI BANK LIMITED |
25/10/2002 |
15/07/2004 |
580000000.0 |
MAKER TOWER F13TH FLOOR; CUFFE PARADE; COLABA MUMBAI MAHARASHTRA 400005 INDIA |
|
5 |
Y10348549 |
90240912 |
BANK OF INDIA |
10/10/2002 |
23/10/2002 |
250000000.0 |
MUMBAI CORPORATE BANKING BRANCHBANK OF INDIA BLDG; 4TH FLORO FORT G MUMBAI MAHARASHTRA 400021 INDIA |
|
6 |
Y10350011 |
90242374 |
UTI BANK LIMITED |
24/07/2002 |
15/07/2004 |
1325000000.0 |
MAKER TOWER F13TH FLOOR; CUFFE PARADE; COLABA MUMBAI MAHARASHTRA 400005 INDIA |
|
7 |
Y10350002 |
90242365 |
UTI BANK LIMITED |
15/04/2002 |
15/07/2004 |
670000000.0 |
MAKER TOWER F13TH FLOOR; CUFFE PARADE; COLABA MUMBAI MAHARASHTRA 400005 INDIA |
|
8 |
Y10348504 |
90240867 |
THE VYSYA BANK LIMITED |
26/03/2002 |
- |
250000000.0 |
MITTAL TOWER; A WING NARIMAN POINT BOMBAY MAHARASHTRA 400021 INDIA |
|
9 |
Y10348490 |
90240853 |
THE LAKSHMI VILAS BANK LIMITED |
02/03/2002 |
09/05/2003 |
150000000.0 |
MOUNT RD CHENNAI TAMILNADU 600001 INDIA |
|
10 |
Y10348487 |
90240850 |
BANK OF INDIA |
18/02/2002 |
18/02/2002 |
100000000.0 |
MUMBAI CORPORATE BANKING BRANCH 70/80; M.G. RD BOMBAY MAHARASHTRA 400023 INDIA |
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE
MONTHS ENDED 31st DECEMBER, 2017
(INR
In Million)
|
Sr. No: |
Description |
Quarter Ended |
Nine Months
Ended |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1 |
Interest Earned/Net
Income from sales/services |
50092.000 |
47601.400 |
144251.200 |
|
|
a)
Interest / discount on Advances / bills |
37658.800 |
35594.700 |
108035.000 |
|
|
b)
Income on Investments |
9607.800 |
9734.000 |
28199.700 |
|
|
c)
Interest on Balances with RBI & other inter
bank funds |
2072.300 |
1490.900 |
5715.900 |
|
|
d)
Others |
753.100 |
781.800 |
2300.600 |
|
2 |
Other Income |
10398.200 |
9538.800 |
29005.800 |
|
3 |
Total Income |
60490.200 |
57140.200 |
173257.000 |
|
4 |
Interest Expended |
26154.800 |
24474.800 |
74731.900 |
|
5 |
Operating Expenses |
16134.900 |
15417.300 |
47122.900 |
|
|
Employee Cost |
7342.100 |
7229.600 |
21633.300 |
|
|
Other operating expenses |
8792.800 |
8187.700 |
25489.600 |
|
6 |
Total Expenditure |
42289.700 |
39892.100 |
121854.800 |
|
7 |
Operating Profit (excluding
provisions and contingencies) |
18200.500 |
17248.100 |
51402.200 |
|
8 |
Provisions (other than
tax) and Contingencies |
2127.700 |
2165.300 |
6330.400 |
|
9 |
Exceptional Item |
-- |
-- |
-- |
|
10 |
Profit/ Loss from Ordinary
Activities before Tax |
16072.800 |
15082.800 |
45071.800 |
|
11 |
Tax |
5540.700 |
5139.700 |
15469.300 |
|
12 |
Net Profit (+)/ Loss (-)
from Ordinary Activities after Tax |
10532.100 |
9443.100 |
29602.500 |
|
13 |
Extraordinary Items |
-- |
-- |
-- |
|
14 |
Net Profit |
10532.100 |
9943.100 |
29602.500 |
|
15 |
Paid up equity share
capital (of face value INR 5 per share) |
9523.500 |
9520.300 |
9523.500 |
|
16 |
Reserves (excluding
revaluation reserves) |
|
|
|
|
17 |
Analytical Ratio |
|
|
|
|
|
|
-- |
-- |
-- |
|
|
|
17.09 |
18.36 |
17.09 |
|
|
|
|
|
|
|
- Basic |
5.53 |
5.22 |
15.64 |
|
|
- Diluted |
5.52 |
5.22 |
15.61 |
|
|
|
|
|
|
|
|
a)
Gross NPA |
37149.900 |
38141.700 |
37149.900 |
|
|
b)
Net NPA |
17279.600 |
19188.300 |
17279.600 |
|
|
c)
% of Gross NPA to Gross Advances |
2.31 |
2.47 |
2.31 |
|
|
d)
% of Net NPA to Net Advances |
1.09 |
1.26 |
1.09 |
|
|
V. Return on Assets (average) – not annualised |
0.44 |
0.44 |
1.30 |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars |
Quarter Ended |
Nine Months
Ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. Segment Revenue |
|
|
|
|
Corporate / Wholesale
Banking |
23153.500 |
21770.300 |
66361.700 |
|
Retail Banking |
28843.100 |
27714.000 |
83687.100 |
|
Treasury, BMU &
Corporate Centre |
14292.700 |
14016.900 |
41616.000 |
|
Sub Total |
66289.300 |
63501.200 |
191664.800 |
|
Less: Inter Segment
Revenue |
5799.100 |
6361.000 |
18407.800 |
|
Total |
60490.200 |
57140.200 |
173257.000 |
|
2. Segment Result |
|
|
|
|
Corporate / Wholesale
Banking |
7837.100 |
6851.300 |
22008.700 |
|
Retail Banking |
3916.600 |
3408.600 |
10110.500 |
|
Treasury, BMU &
Corporate Centre |
4319.100 |
4822.900 |
12952.600 |
|
Total Profit Before Tax |
16072.800 |
15082.800 |
45071.800 |
|
3. Segment Assets |
|
|
|
|
Corporate / Wholesale Banking |
944683.500 |
922833.200 |
944683.500 |
|
Retail Banking |
1332326.000 |
1293714.400 |
1332326.000 |
|
Treasury, BMU & Corporate Centre |
865590.200 |
811385.500 |
865590.200 |
|
Other
Banking business |
-- |
-- |
-- |
|
Sub Total |
3142599.700 |
3027933.100 |
3142599.700 |
|
Less: Inter Segment Assets |
658468.200 |
660776.000 |
658468.200 |
|
Total |
2484131.500 |
2367157.100 |
2484131.500 |
|
Add: Unallocated Assets |
2325.800 |
2538.300 |
2325.800 |
|
Total Assets as per
Balance Sheet |
2486457.300 |
2369695.400 |
2486457.300 |
|
Segment Liabilities |
|
|
|
|
Corporate / Wholesale
Banking |
837340.000 |
823286.400 |
837340.000 |
|
Retail Banking |
1231534.400 |
1196839.700 |
1231534.400 |
|
Treasury, BMU &
Corporate Centre |
712968.000 |
657452.400 |
712968.000 |
|
Other
Banking business |
-- |
-- |
-- |
|
Sub Total |
2781842.400 |
2677578.500 |
2781842.400 |
|
Less: Inter Segment Liabilities |
658468.200 |
660776.000 |
658468.200 |
|
Total |
2123374.200 |
2016802.500 |
2123374.200 |
|
Add:
Unallocated Liabilities |
112.300 |
832.800 |
112.300 |
|
Add:
share Capital and reserves and surplus |
362970.800 |
352060.100 |
362970.800 |
|
Total Liabilities as per
balance sheet |
2486457.300 |
2369695.400 |
2486457.300 |
Notes:
The above financial results have been approved by the Board of Directors at its meeting held on 19th January, 2018. The results for the quarter and nine months ended 31st December, 2017 have been subjected to limited review by the statutory auditors, S.R. Batliboi and Company LLP, Chartered Accountants and there are no qualifications in the limited review report.
Other Income includes non-fund based income such as commission earned from guarantees / letters of credit, financial advisory fees, selling of third party products, earnings from foreign exchange transactions and profit / loss from the sale of securities
Provisions and contingencies are net of recoveries made against accounts which have been written off as bad in the previous period / year. Break up of provisions (other than tax) and contingencies:
|
Particulars |
Quarter Ended |
Nine Months
Ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Provisions towards
advances/ Others (including provisions for exposures to entities with Unhedged
Foreign Currency Exposure) |
1697.800 |
2054.800 |
5681.000 |
|
Provision/ (write back of
provisions) towards investments (net) |
429.900 |
110.500 |
649.400 |
|
Total
provisions (Other than Tax) and contingencies |
2127.700 |
2165.300 |
6330.400 |
During the quarter, the Bank has granted 16800 options under employee stock option scheme. Stock options aggregating to 699,478 were exercised during the quarter and 10716219 stock options were outstanding with employees of the Bank and its subsidiaries as at 31st December, 2017.
RBI circular DBOD.No.BP.BC. 1/21.06.201/2015-16 dated 1st July, 2015 on 'Basel III Capital Regulations' read together with the RBI circular DBR.No.BP.BC.80/21.06.201/2014-15 dated 31st March, 2015 on 'Prudential Guidelines on Capital Adequacy and Liquidity Standards-Amendments' requires banks to make applicable Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. There has been no change to significant accounting policies during the quarter and nine months ended 31st December, 2017.
Figures for the previous periods / year have been regrouped wherever necessary to conform to current period's presentation.
CONTINGENT
LIABILITIES:
(INR in million)
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims not acknowledged as debts |
12382.279 |
13040.884 |
|
Liability on account of Outstanding Forward Exchange
Contracts |
1164196.265 |
1657248.872 |
|
Guarantees on behalf of Constituents |
248803.125 |
240135.682 |
|
Acceptances, Endorsements and other obligations |
115154.901 |
106140.681 |
|
Other Items for which the Bank is contingently liable : |
|
|
|
a. Liability in respect of interest rate and currency swaps and forward rate agreements |
335850.914 |
378440.694 |
|
b. Liability in respect of Options Contracts |
51839.782 |
29075.596 |
|
c. Capital commitments not provided |
1089.000 |
880.000 |
|
d. Unclaimed Customer balances transferred to RBI DEAF Scheme |
1359.093 |
1140.436 |
|
Total |
1930675.359 |
2426102.845 |
FIXED ASSETS
·
Premises
·
Improvement
to leasehold premises
·
Office
equipments (High capacity chillers, Transformers, UPS DG set, Fire Supression,
HVAC, PAC and Elevators)
·
Office
equipments (other than above)
·
Computers
·
Furniture
and Fixtures
·
Vehicles
·
ATMs
· Software (including development) expenditure
· Forex Broking Business Rights
· Goodwill
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 63.90 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
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 |
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.