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MIRA INFORM REPORT
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Report No. : |
494244 |
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Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE GENERALE |
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India Branch
Office : |
19th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam
Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Tel. No.: |
91-22-66309500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
01.01.1900 |
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Com. Reg. No.: |
Not Divulged |
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Capital
Investment / Paid-up Capital : |
INR 7826.968 Million |
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FCRN No.: |
F00948 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Foreign Registered Bank |
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Line of Business
: |
Providing
financial services. (From indirect source) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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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 : |
Clear |
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Comments : |
Societe Generale S.A. is a foreign registered bank
headquartered in Paris.
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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
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
Not Available |
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 26.02.2018
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
Management Non-Cooperative (91-22-66309500)
LOCATIONS
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Registered office: |
Located at:
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India Branch Office/Head Office : |
19th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-66309500 |
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Fax No.: |
91-22-66309696 |
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E-Mail : |
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Website : |
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Branch office : |
Office No. 202, 2nd Floor, Tower B, World Mark I, Aero City,
NH – 8, New Delhi – 110037, India |
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Branch office : |
Unit No. 101/A, 1st Floor, Sarvoday Cooperative Housing
Society, Sub Plot No. 6, Near Sanand Highway, Sanand – 382110, Ahmedabad,
Gujarat, India |
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Branch office 3: |
The Canopy, 2nd Avenue, 2nd Floor Unit 1B,
Mahindra Post, Chengalpattu Taluk, Kanchi Puram – 603004, Tamilnadu, India |
MANAGEMENT
AS ON 31.03.2017
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Name : |
Mr. Evelyne Collin |
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Designation : |
Chief Executive and Chief Country Officer |
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Name : |
Mr. Lokesh Chaturvedi |
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Designation : |
Chief Operating Officer |
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Name : |
Mr. Ashok Krishnamoorthy |
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Designation : |
Chief Financial Officer |
BUSINESS DETAILS
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Line of Business : |
Providing
financial services. (From indirect source) |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
(INR
In Million)
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
19th Floor, Shaparh –V, S. G. Highway, Ahmedabad – 380015,
Gujarat, India |
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Tel. No.: |
91-79-66827300 |
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Fax No.: |
91-79-66827400 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2017
(INR
in Mullion)
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Capital |
31.03.2017 |
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As per last balance sheet |
7099.220 |
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Add: capital infusion during the year from
the head office |
727.748 |
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Total |
7826.968 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
CAPITAL &
LIABILITIES |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
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Capital |
7826.968 |
7099.220 |
7099.220 |
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Reserves & Surplus |
2490.046 |
2485.488 |
1909.548 |
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Deposits |
17892.292 |
35612.108 |
30019.977 |
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Borrowings |
5920.437 |
10480.586 |
12066.870 |
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Other Liabilities and Provisions |
5303.807 |
4026.240 |
16373.218 |
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TOTAL |
39433.550 |
59703.642 |
67468.833 |
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ASSETS |
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Cash and Balances with Reserve Bank of India |
1210.297 |
2125.762 |
1942.888 |
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Balances
with Banks and Money at Call and Short notice |
220.917 |
990.752 |
228.388 |
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Investments |
13738.998 |
16657.590 |
12085.508 |
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Advances |
18732.488 |
35497.178 |
36347.954 |
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Fixed Assets |
694.374 |
833.326 |
1068.837 |
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Other Assets |
4836.476 |
3599.034 |
15795.258 |
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TOTAL |
39433.550 |
59703.642 |
67468.833 |
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Contingent Liabilities |
422986.985 |
369931.029 |
480320.006 |
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Bills for Collection |
5092.518 |
2894.739 |
1815.573 |
PROFIT
& LOSS ACCOUNT
|
INCOME |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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Interest Earned |
3075.847 |
4049.179 |
3803.631 |
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Other Income |
535.690 |
764.846 |
587.680 |
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TOTAL |
3611.537 |
4814.025 |
4391.311 |
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EXPENDITURE |
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Interest Expended |
1872.185 |
2426.763 |
2405.473 |
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Operating Expenses |
1229.791 |
1272.352 |
1156.048 |
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Provisions and Contingencies |
505.003 |
538.970 |
434.691 |
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TOTAL |
3606.979 |
4238.085 |
3996.212 |
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PROFIT/LOSS |
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Net Profit/(Loss) for the year |
4.558 |
575.940 |
395.099 |
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Profit/(Loss) brought forward |
250.423 |
333.610 |
264.830 |
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TOTAL |
254.981 |
909.550 |
659.929 |
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APPROPRIATIONS |
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Transfer to Statutory |
1.553 |
143.985 |
98.774 |
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Reserves |
4.658 |
230.622 |
11.558 |
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Transfer to Capital Reserve |
-- |
-- |
-- |
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Transfer
(from)/to Investment Reserve |
-- |
-- |
-- |
|
Remitted
to H.O. during the year Remittable surplus retained for CRAR |
201.333 |
284.520 |
215.741 |
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Balance
c/o to balance sheet |
47.437 |
250.423 |
333.610 |
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TOTAL |
254.981 |
909.550 |
659.929 |
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 |
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Cash generated from operations |
NA |
NA |
NA |
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Net cash flows from (used in) operations |
1133.022 |
1834.596 |
(3816.754) |
FINANCIAL ANALYSIS
[all figures are
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 |
7099.220 |
7099.220 |
7826.968 |
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Reserves & Surplus |
1909.548 |
2485.488 |
2490.046 |
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Net worth |
9008.768 |
9584.708 |
10317.014 |
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Borrowing |
12066.870 |
10480.586 |
5920.437 |
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Total borrowings |
12066.870 |
10480.586 |
5920.437 |
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Debt/Equity ratio |
1.339 |
1.093 |
0.574 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
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|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
3803.631 |
4049.179 |
3075.847 |
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|
6.456 |
(24.038) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
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|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
3803.631 |
4049.179 |
3075.847 |
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Profit/(Loss) |
395.099 |
575.940 |
4.558 |
|
|
10.39% |
14.22% |
0.15% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
No |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
No |
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8 |
Designation of contact person |
No |
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9 |
Promoter’s background |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
No |
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17 |
Details of sister concerns |
Yes |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
Yes |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
Yes |
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25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
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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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: Head office of the
company has been shifted from “Maker Chamber-IV, Ground Floor, Nariman
Point, Bombay, Maharashtra, India” to the present address but the same has not been
updated in the government registry.
Background
The
accompanying financial statements for the year ended 31st March 2017 comprise
the accounts of the Indian branches of Societe Generale, which is incorporated
in France as a Public Limited Company. The Indian operations are located in
Mumbai, New Delhi and Sanand with Mumbai being the headquarters.
- Chief Executive Officer
- Chief Operating Officer
- Chief Financial Officer
- Chief Risk Officer
- Head –Corporate Banking
- Head – Treasury
- Head- Trade Finance
- Head – Internal Audit
- Head- HR
- Head- Legal And Compliance
- Head- Credit
- Head- Operations
- Head-Operational Risk
- Head- It
INDEX OF CHARGE: No Charges Exists for Company
FIXED ASSETS:
- Furniture and Fixture
- Office equipment
- Computers
- Software
- Motor vehicle
- Leasehold improvement
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
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Analysis Done by
: |
PRI |
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|
Report Prepared
by : |
NKTS |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.