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|
|
MIRA INFORM REPORT
|
Report No. : |
498558 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ICICI SECURITIES LIMITED [w.e.f. 26.03.2007] |
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|
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|
Formerly Known
As : |
ICICI BROKERAGE SERVICES LIMITED |
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Registered
Office : |
ICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai – 400005,
Maharashtra |
|
Tel. No.: |
91-22-40701001 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
09.03.1995 |
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|
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|
Com. Reg. No.: |
11-086241 |
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|
Capital
Investment / Paid-up Capital : |
INR 1610.707 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120MH1995PLC086241 |
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|
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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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|
|
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PAN No.: [Permanent Account No.] |
AAACI0996E |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of broking (institutional and retail), merchant banking and advisory services. [Registered Activity] |
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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)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
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|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “ICICI Bank Limited”. The company was incorporated in the year 1995. It is engaged in providing wide range of financial services including investment banking, institutional broking, retail broking, private wealth management, and financial product distribution. For the financial year 2017, the company has achieved 26.17% growth in its revenue as compared to previous year revenue and has maintained healthy profitability margin of 26.50% during the year under review. The healthy financial profile of the company is marked by strong networth base along with strong debt coverage indicators due to low debt balance sheet profile. Rating takes into consideration strong financial and managerial support that the company receives from its holding entity backed by its well experienced management team. The rating also takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, rating strengths are partially offset by uncertainties inherent in capital market-related businesses. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered for good business dealings at usual trade terms and conditions. NOTE: As per the current press release the subject has received SEBI nod to float an initial public offering (IPO). The company had filed its draft papers with Securities and Exchange Board of India (SEBI) in December and received observations from the regulator on February 2. The public issue comprises sale of 64,428,280 equity shares, amounting to 20 per cent stake, by ICICI Bank. |
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 |
Long Term = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk |
|
Date |
07.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
07.11.2017 |
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 17.03.2018
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 (91-22-40701001)
91-22-26531414 – Not Working
LOCATIONS
|
Registered Corporate Office 1 / Institutional Services : |
ICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai – 400020,
Maharashtra, India |
|
Tel. No.: |
91-22-26531414 / 22882460 |
|
Fax No.: |
91-22-22826455 / 22845572 |
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E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
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|
|
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Corporate Office 2 : |
ICICI Bank Towers, 3rd Floor, NBCC Place, North Tower Pragati
Vihar, Bisham Pitamah Marg, Lodi Road, New Delhi – 110003, India |
|
Tel. No.: |
91-11-24390000 |
|
|
|
|
Direct Stores : |
Located at: ·
Agra ·
Ahmedabad ·
Ajmer ·
Allahabad ·
Amritsar ·
Aurangabad ·
Bangalore ·
Bhopal ·
Bhubneshwar ·
Bikaner ·
Chandigarh ·
Chennai ·
Coimbatore ·
Cuttack ·
Dehradun ·
Dhanbad ·
Dombivali ·
Faridabad ·
Ghaziabad ·
Greater Noida ·
Gurgaon ·
Guwahati ·
Howrah ·
Hubli ·
Hyderabad ·
Indore ·
Jaipur ·
Jalandhar ·
Jamnagar ·
Jamshedpur ·
Jodhpur ·
Kalyan ·
Kanpur ·
Kochi ·
Kolhapur ·
Kolkata ·
Kottayam ·
Kozhikode ·
Lucknow ·
Ludhiana ·
Madurai ·
Meerut ·
Mohali ·
Mumbai ·
Mysore ·
Nagpur ·
Nashik ·
Navi Mumbai ·
New Delhi ·
Noida ·
Panchkula ·
Patna ·
Pondicherry ·
Pune ·
Raipur ·
Rajahmundry ·
Rajkot ·
Ranchi ·
Salem ·
Secunderabad ·
Surat ·
Thane ·
Thrissur ·
Tirunelveli ·
Trichy ·
Tirupati ·
Trivandrum ·
Udaipur ·
Vadodara ·
Vapi ·
Visakhapatnam ·
Varanasi |
|
|
|
|
Overseas Office : |
Located at: · Singapore · New York · Oman |
DIRECTORS
AS ON 2018
|
Name : |
Ms. Shilpa Naval Kumar |
|
Designation : |
Managing Director |
|
Address : |
17, Sargent House, Jaallana Marg, Mumbai – 400039, Maharashtra, India |
|
Date of Birth/Age : |
12.09.1966 |
|
Qualification : |
B.
Com and PGDM - IIM Calcutta |
|
Date of Appointment : |
03.11.2016 |
|
DIN No.: |
02404667 |
|
|
|
|
Name : |
Ms. Chanda Deepak Kochhar |
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Designation : |
Director |
|
Address : |
CCI Chambers, Flat No.45, Dinshaw Vachha Road, Churchgate, Mumbai –
400028, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1961 |
|
Qualification : |
"MMS, ICWA, B.A. (Eco)" |
|
Date of Appointment : |
20.11.2008 |
|
DIN No.: |
00043617 |
|
|
|
|
Name : |
Mr. Ajay Radhey Shyam Saraf |
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Designation : |
Whole Time Director |
|
Address : |
Flat 1902, Tower B, Beaumonde, Appasaheb Marathe Marg, Old Mills Compound,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1969 |
|
Qualification : |
CA, ICWA |
|
Date of Appointment : |
25.05.2011 |
|
DIN No.: |
00074885 |
|
|
|
|
Name : |
Ms. Vishakha Vivek Mulye |
|
Designation : |
Nominee Director |
|
Address : |
A-303, Atria, Akruti Niharika Complex Prof. N.S. Phadke Marg, Andheri
(East), Mumbai – 400069, Maharashtra, India |
|
Date of Appointment : |
24.02.2016 |
|
DIN No.: |
00203578 |
|
|
|
|
Name : |
Mr. Vinod Kumar Dhall |
|
Designation : |
Director |
|
Address : |
Dewan Manohar House, B-88, Sector-51, Noida – 201301, Uttar Pradesh,
India |
|
Date of Appointment : |
26.06.2015 |
|
DIN No.: |
02591373 |
|
|
|
|
Name : |
Mr. Ashvin Dhirajlal Parekh |
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Designation : |
Director |
|
Address : |
501, 5th Floor, Raheja Princess, S K Bole Road, Prabhadevi, Mumbai –
400025, Maharashtra, India |
|
Date of Appointment : |
25.08.2016 |
|
DIN No.: |
06559989 |
|
|
|
|
Name : |
Mr. Subrata Nakul Chandra Mukherji |
|
Designation : |
Director |
|
Address : |
2402, Mahindra Heights, Tardeo, Mumbai – 400034, Maharashtra, India |
|
Date of Appointment : |
04.12.2017 |
|
DIN No.: |
00057492 |
|
|
|
|
Name : |
Mr. Vijayalakshmi Rajaram Iyer |
|
Designation : |
Director |
|
Address : |
C-1, Goodwill CHS Limited, Opposite Jankalyan Sahkari Bank, J.B.
Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Date of Appointment : |
04.12.2017 |
|
DIN No.: |
05242960 |
KEY EXECUTIVES
|
Name : |
Mr. Harvinder Jaspal |
|
Designation : |
Chief Financial Officer |
|
Address : |
C-3502, Orchid Woods, K.V. Marg, Goregaon (East), Mumbai –
400063, Maharashtra, India |
|
Date of Appointment : |
01.09.2017 |
|
PAN No.: |
ADWPJ5929J |
|
|
|
|
Name : |
Raju Nanikram Nanwani |
|
Designation : |
Company Secretary |
|
Address : |
503, B Wing, Building 1, Aakansha CHS Limited, Vasari Hill Sunder
Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India |
|
Date of Appointment : |
17.07.2007 |
|
PAN No: |
AABPN6479R |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
LIST OF SHAREHOLDERS
OF ICICI SECURITIES LIMITED AS ON MARCH 31, 2017:
|
Names of Shareholders |
No. of Shares |
|
ICICI Bank Limited *Ms. Shilpa Kumar *Mr. Ajay Saraf *Mr. Subir Saha *Ms. Vaijayanti Naik *Mr. Vineet Arora *Mr. Piyush Garg *ICICI Securities Primary Dealership Limited *(Shares held jointly with ICICI Bank Limited as its nominee) |
805353500 |
|
|
|
|
Total |
805353500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 09.06.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Banks)] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of broking (institutional and retail), merchant banking and advisory services. [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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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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Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat
Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
ACHFS9180N |
|
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|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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Holding Company : |
· ICICI Bank Limited |
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|
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|
Subsidiary
Companies : |
· ICICI Securities Holding Inc. · ICICI Securities Inc. |
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|
|
|
Fellow Subsidiaries
: |
· ICICI Securities Primary Dealership Limited · ICICI Prudential Life Insurance Company Limited · ICICI Lombard General Insurance Company Limited · ICICI Prudential Asset Management Company Limited · ICICI Home Finance Company Limited · ICICI Bank UK PLC · ICICI Venture Funds Management Company Limited |
|
|
|
|
Associate of
Holding Company : |
· ICICI Foundation for Inclusive Growth |
CAPITAL STRUCTURE
AS ON 09.06.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
INR 2/- each |
INR 2000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
805353500 |
Equity Shares |
INR 2/- each |
INR 1610.707 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1610.700 |
1610.700 |
1610.700 |
|
(b) Reserves & Surplus |
3239.800 |
2331.600 |
1910.600 |
|
(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) |
4850.500 |
3942.300 |
3521.300 |
|
|
|
|
|
|
(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 |
826.300 |
618.200 |
506.400 |
|
(d) Long-term
provisions |
338.100 |
267.600 |
160.700 |
|
Total Non-current
Liabilities (3) |
1164.400 |
885.800 |
667.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3954.100 |
1728.600 |
2265.300 |
|
(b) Trade
payables |
8713.600 |
5952.000 |
5601.000 |
|
(c) Other
current liabilities |
1668.000 |
1369.600 |
1515.700 |
|
(d) Short-term provisions |
51.000 |
41.900 |
41.000 |
|
Total Current
Liabilities (4) |
14386.700 |
9092.100 |
9423.000 |
|
|
|
|
|
|
TOTAL |
20401.600 |
13920.200 |
13611.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
241.900 |
250.600 |
252.400 |
|
(ii)
Intangible Assets |
104.400 |
103.200 |
95.700 |
|
(iii)
Capital work-in-progress |
0.400 |
3.800 |
6.900 |
|
(iv)
Intangible assets under development |
27.900 |
20.300 |
30.100 |
|
(b) Non-current Investments |
143.200 |
134.900 |
134.900 |
|
(c) Deferred tax assets (net) |
577.800 |
508.600 |
387.100 |
|
(d)
Long-term Loan and Advances |
1357.900 |
1255.600 |
1109.700 |
|
(e) Other
Non-current assets |
811.500 |
270.100 |
161.600 |
|
Total Non-Current
Assets |
3265.000 |
2547.100 |
2178.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.700 |
0.000 |
0.000 |
|
(b)
Inventories |
310.900 |
1412.700 |
338.100 |
|
(c) Trade
receivables |
7097.500 |
2920.400 |
1731.300 |
|
(d) Cash
and cash equivalents |
8669.900 |
6271.600 |
8432.700 |
|
(e)
Short-term loans and advances |
323.800 |
249.100 |
305.700 |
|
(f) Other
current assets |
733.800 |
519.300 |
625.200 |
|
Total
Current Assets |
17136.600 |
11373.100 |
11433.000 |
|
|
|
|
|
|
TOTAL |
20401.600 |
13920.200 |
13611.400 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
12738.800 |
10096.400 |
10917.200 |
|
|
Other Income |
1300.200 |
1139.200 |
1177.400 |
|
|
TOTAL |
14039.000 |
11235.600 |
12094.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
4735.500 |
3924.400 |
3848.500 |
|
|
CSR expenditure |
65.400 |
47.000 |
14.700 |
|
|
Other expenses |
3590.700 |
3140.700 |
3766.200 |
|
|
TOTAL |
8391.600 |
7112.100 |
7629.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
5647.400 |
4123.500 |
4465.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
283.000 |
253.700 |
306.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5364.400 |
3869.800 |
4159.100 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
154.600 |
159.400 |
162.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
5209.800 |
3710.400 |
3996.400 |
|
|
|
|
|
|
|
Less |
TAX |
1833.700 |
1353.000 |
1556.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3376.100 |
2357.400 |
2439.600 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.19 |
2.93 |
3.00 |
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 flows from (used in) operations |
3607.000 |
3849.600 |
3769.700 |
|
Net cash flows from (used in) operating activities |
1622.000 |
2297.100 |
2193.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
203.36 |
105.58 |
57.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.79 |
3.46 |
6.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
18.16 |
2.92 |
13.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
15.08 |
10.91 |
11.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.71 |
0.65 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.82 |
0.44 |
0.64 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.97 |
2.31 |
2.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.08 |
0.10 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
19.96 |
16.25 |
14.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
26.50 |
23.35 |
22.35 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
16.55 |
16.94 |
17.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
69.60 |
59.80 |
69.28 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.25 |
1.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.17 |
1.10 |
1.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.28 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.45 |
1.07 |
1.41 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.25 |
1.21 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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 |
1610.700 |
1610.700 |
1610.700 |
|
Reserves & Surplus |
1910.600 |
2331.600 |
3239.800 |
|
Net
worth |
3521.300 |
3942.300 |
4850.500 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2265.300 |
1728.600 |
3954.100 |
|
Total
borrowings |
2265.300 |
1728.600 |
3954.100 |
|
Debt/Equity
ratio |
0.643 |
0.438 |
0.815 |
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 |
10917.200 |
10096.400 |
12738.800 |
|
|
|
(7.518) |
26.172 |
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 |
10917.200 |
10096.400 |
12738.800 |
|
Profit/ (Loss) |
2439.600 |
2357.400 |
3376.100 |
|
|
22.35
% |
23.35
% |
26.50
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1610.700 |
1610.700 |
|
(b) Reserves and Surplus |
|
3285.100 |
2370.900 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4895.800 |
3981.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
826.500 |
627.500 |
|
(d) long-term
provisions |
|
338.100 |
267.600 |
|
Total Non-current
Liabilities (3) |
|
1164.600 |
895.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
3954.100 |
1728.600 |
|
(b) Trade
payables |
|
8699.300 |
5925.400 |
|
(c) Other
current liabilities |
|
1709.600 |
1402.300 |
|
(d) Short-term
provisions |
|
51.000 |
41.900 |
|
Total Current
Liabilities (4) |
|
14414.000 |
9098.200 |
|
|
|
|
|
|
TOTAL |
|
20474.400 |
13974.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
241.900 |
250.900 |
|
(ii)
Intangible Assets |
|
104.400 |
103.200 |
|
(iii) Tangible assets capital
work-in-progress |
|
0.500 |
3.800 |
|
(iv)
Intangible assets under development |
|
27.900 |
20.300 |
|
(b) Non-current Investments |
|
20.500 |
12.200 |
|
(c) Deferred tax assets (net) |
|
577.800 |
508.600 |
|
(d)
Long-term loans and advances |
|
1361.800 |
1292.700 |
|
(e) Other
Non-current assets |
|
811.500 |
270.100 |
|
Total Non-Current
Assets |
|
3146.300 |
2461.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.700 |
0.000 |
|
(b)
Inventories |
|
310.900 |
1412.700 |
|
(c) Trade
receivables |
|
7100.500 |
2933.300 |
|
(d) Cash and
bank balances |
|
8823.600 |
6394.200 |
|
(e)
Short-term loans and advances |
|
358.700 |
253.600 |
|
(f) Other
current assets |
|
733.700 |
519.300 |
|
Total
Current Assets |
|
17328.100 |
11513.100 |
|
|
|
|
|
|
TOTAL |
|
20474.400 |
13974.900 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
12741.800 |
10106.600 |
|
|
Other Income |
|
1300.500 |
1139.200 |
|
|
TOTAL |
|
14042.300 |
11245.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
|
4846.100 |
4013.700 |
|
|
CSR expenditure |
|
65.400 |
47.000 |
|
|
Other expenses |
|
3468.200 |
3026.100 |
|
|
TOTAL |
|
8379.700 |
7086.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
5662.600 |
4159.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
287.400 |
258.400 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
5375.200 |
3900.600 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
154.800 |
159.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
5220.400 |
3741.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
1834.500 |
1353.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
3385.900 |
2387.200 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
4.20 |
2.96 |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company, incorporated in 1995, is a public Company engaged in the business of broking (institutional and retail), merchant banking and advisory services.
BUSINESS PERFORMANCE
The Company continued to expand its client base across various business segments, assisting its customers in meeting their financial goals by providing them with research, advisory and execution services.
Broadly, the Corporate Finance business continued to build a deal pipeline of diverse products whereas the Institutional Broking segment enhanced corporate access through various conferences and events. On the retail front, the Broking business has continued strengthening its customer franchise, innovating its offering for deeper customer engagement and increased transactions. The counter-cyclical businesses like Wealth Management and Distribution have helped in maintaining the business performance despite the volatility in the equity markets for most part of the year.
CORPORATE FINANCE
During fiscal 2017, they saw robust fund raising exercises through IPOs and debt public issues.
The Company maintained its dominant position in managing mainboard IPOs and ranked 1st by managing 12 IPOs in fiscal 2017 with highest market share of 57.00% (in terms of issue size) during fiscal 2017 as compared to 9th rank with market share of 18.80% (in terms of issue size) in fiscal 2016.
The Company ranked 9th with market share of 14.9% (in terms of issue size) for QIPs managed in fiscal 2017 as compared to 5th rank with market share of 31.90% (in terms of issue size) in fiscal 2016.
The amount raised through equity public issuances managed by the Company during fiscal 2017 was INR 160.86 billion, which included the IPOs by ICICI Prudential Life Insurance Company Limited, Avenue Supermarts Limited, Equitas Holdings Limited, Ujjivan Financial Services Limited, Thyrocare Technologies Limited, Quess Corp Limited, Larsen & Toubro Infotech Limited, Music Broadcast Limited, Advanced Enzyme Technologies Limited, RBL Bank Limited, Sheela Foam Limited and HPL Electric & Power Limited. These IPOs received positive response from the market.
The amount raised through two qualified institutional placements (QIPs) issuances managed by the Company during fiscal 2017 was INR 20.43 billion which included the QIPs by Motherson Sumi Systems Limited and Greenply Industries Limited.
The Company successfully managed the two Offer For Sale (“OFS”) issues for Hindustan Copper Limited and Bharat Electronics Limited. The Company handled four open offers in fiscal 2017, inter aila, ADC India Communications Limited, DFM Foods Limited, Excel Crop Care Limited and Sharp India Limited.
During fiscal 2017, the Company successfully managed to place equity shares held by the entities through block deals aggregating to INR 126.82 billion.
The Company managed four debt public issuances with aggregate fund raising to the tune of INR 21.29 billion in fiscal 2017. The debt issuances during the year included NCDs for private sector NBFCs, viz., Muthoot Finance Limited, Mahindra & Mahindra Financial Services Limited and SREI Infrastructure Finance Limited.
The Company was ranked fifth among all financial advisors for M&A deals for the calendar year 2016. The Company rendered advisory services in several transactions during the year in sectors ranging across pharmaceuticals, energy, cement, healthcare, consumer, logistics, financial services, etc.
INSTITUTIONAL BROKING
During the year, the institutional sales team successfully marketed and placed IPOs and other equity offerings (QIPs, Rights & FPOs). The increase in traction with clients across geographies got recognized which has resulted in higher broking income.
The institutional research team increased its coverage to 204 companies, spread across 23 diversified sectors and large and mid-cap stocks. The research team is dedicated to servicing clients around the world through its differentiated approach and commitment to address client queries well within deadlines. The research team has published a variety of sector thematic reports which have been highly appreciated by clients for insight, value and differentiation.
During fiscal 2017, the Company hosted several conferences and delegations to provide its clients an opportunity for interaction with policy makers and corporate leaders. The 15th India Unlimited conference held during fiscal 2017 attracted over 32 corporates as well as the speakers / sector experts with participation of several funds. Overall, the conference saw numerous investor meetings. Besides, they hosted seven distinct sector conferences in Mumbai during the year.
RETAIL BROKING
The Company witnessed robust growth in its overall volumes and market share. In fiscal 2017, Company’s volume increased by 89%. This was fuelled by introduction of bullet brokerage plan for intra-day derivative traders.
The Company continued to expand its client base across various customer segments and touched a milestone of 4 million customers in fiscal 2017 which is distinctively the highest amongst retail brokers.
The Company in fiscal 2017 introduced a new approach of educating and reaching out to retail investors on financial products, investment suitability and creating awareness by conducting investor conference calls directly with product experts and analysts. This witnessed overwhelming response from retail investors who participated in the Investor conference calls.
The Company has a retail research team covering 241 companies spread across various sectors. A strong mutual fund, technical and derivatives desk delivers quality research to over four million customers of ICICIdirect.com. In addition to the quarterly earnings reports and regular event updates, the team published various sector reports, thematic reports, model portfolio, IPO recommendations, mutual fund advice and technical and derivative picks. The Company continued to strengthen its customer base and market share across the retail segment by introducing several new features in a challenging market scenario.
DISTRIBUTION OF
RETAIL FINANCIAL PRODUCTS
The Company has one of the largest pan-India distribution networks of over 178 ICICI direct offices, over 701sub-brokers and a team of over 4,034Investment Associates/Independent Financial Associates across 446 cities & towns in India.
In fiscal 2017 the Company continued its growth with a focus on increasing the number of clients and their AUM with us. They further strengthened their Mutual Fund proposition by introducing many new client centric features on ICICIdirect.com. This has helped the Company grow its SIP book at an aggressive pace. The Company further consolidated its position among the leading mutual fund distributors.
Apart from mutual funds, the Company also continued to be among the leading players in other distribution products.
The Company was amongst the top mobilisers for Sovereign Gold bonds and CPSE ETF FFO (Further Fund Offer).
The Company has been one of the largest players in the National Pension System (NPS) and also services a large number of corporate clients who contribute into NPS for their employees.
The Company was amongst the largest mobilisers of corporate fixed deposits and bonds.
In the life insurance space, the Company continued its focus on improving persistency.
FINANCIAL LEARNING
AND INVESTOR AWARENESS:
The Company continued its effort to expand the financial market by focusing on creating informed investors and better finance professionals through its learning division ICFL (ICICI Direct Centre for Financial Learning).
In addition to classroom workshops and online programs, ICFL also introduced live virtual programs on basics of investments to reach out to learners across the country. To engage learners and continue post program learning, ICFL added online videos and e-Learning programs to its offering of classroom workshops. ICFL started new programs in association with academic institutions including a Post Graduate Certificate Program in Finance with IIM-Indore, an Executive course on Financial Modeling with XLRI-Jamshedpur, a programme on Financial Research with Frankfurt School, an Advanced Certification in Financial Markets with NISM and a program on Wealth Management with AIMA to promote financial training and certification.
All these programmes are delivered through live virtual classrooms and the student has the flexibility to attend the programme from home or an ICFL Learning Centre. With an objective to provide access to college students to contemporary courses in Finance, the Company also associated with select colleges/universities in the form of Centre for Excellence in Finance.
The Company continued its initiatives of educating college students on stock markets and investments through Stock MIND – Season 5, a national contest on stock markets. For the past four years, this nationwide initiative has successfully created stock investing awareness in over 400,000 students from varied disciplines including engineering, science, commerce, management, medical, etc., in an exciting and risk-free manner. This year Stock MIND – Season 5 received enthusiastic response from colleges in over 80 cities spread across Tier I, II and III. Stock MIND continued its focus on female students’ participation and had special rewards for the female winners in the college as well as national round. Stock MIND – Season 5 reached out to 244,422 students from 576 colleges.
The Company furthered its initiative to create more awareness for financial planning through ‘I Pledge’ prompting people to pledge to invest for the secure financial future of their loved ones. It also launched ‘Vision for Wealth’ campaign offering free financial planning.
PRIVATE WEALTH
MANAGEMENT
In fiscal 2017, the Company continued to strengthen its Private Wealth Management business. The Company maintained its focus on core competence in financial services and strived to ensure diversification in business through multiple products and diverse revenue streams. The Company capitalised on its unique proposition of strong relationship driven people along with a robust product and advisory platform which aimed to offer best in class financial solutions to its clients and maintained the organisation’s competitive positioning.
OUTLOOK
The macro-economic indicators remained largely stable in terms of CPI, current account deficit, forex reserves and Indian currency barring the short-term impact of demonetisation on H2-fiscal 2017 GDP growth and the liquidity deluge in the banking system. The outlook for fiscal 2018 remains sanguine coupled with the Union Budget 2018 which has been a fine balancing act. Staying the course of fiscal consolidation amidst moderating revenue growth, the budget: (a) laid emphasis on rural and social sectors; (b) made significant allocation for productive capital expenditure; and (c) granted tax exemptions to spur private consumption. On the other hand, the budget dispelled fears by: (a) not imposing long-term capital gains tax for equity investors; and (b) refraining from populist moves involving fiscal largesse.
Despite the marginally expansionary fiscal deficit target of 3.2% for FY2018, the expected net borrowing programme of the government in fiscal 2018 is likely to be lower than the previous year and can have a positive impact on borrowing rates.
Globally, the narrative on growth is improving led by the US economy which could be beneficial for Indian exports, which is showing signs of turning the corner.
One of the benefits of recent demonetisation over the medium term could be encouraging tilt towards financial assets like equity and bonds.
A structural shift towards digitization of the economy coupled with increased focus on channelisation of financial savings is likely to keep the Indian financial market buoyant, amid a bout of global volatility.
CORPORATE FINANCE
There is visibility of strong IPO pipeline on the back of interest by corporates to raise capital through the capital markets route. They have also seen an active interest of insurance sector and Small Finance Banks (SFBs) to list the securities through public issue in next few years in order to meet the capital requirements.
The Company is also liaising with stakeholders and regulators to develop new and innovative products like Infrastructure Investment Trusts (INVITs) and Real Estate Investment Trusts (REITs). Many of these are awaiting regulatory clearances and are expected to hit the market in the next financial year. The Company will continue its pursuits with the Government divestments through OFS and through newer products like ETFs.
After achieving a leadership position in the IPO market, the Company continues to strengthen the advisory business by building a robust deal pipeline which includes deals in the M&A, Private Equity (PE), Structured Finance. Many of these deals will see the closures in the next fiscal year. The focus also continues to be on PE exits through secondary sales in both public as well as private markets. The Company will work towards continuing the trend of delivering high quality IPOs and Advisory deals and engaging with clients with their expertise across a wide range of products.
INSTITUTIONAL BROKING
They continue to invest in technology and focus on higher yielding business segments, while continuing to explore new segments of clients and enhancing products and services to maintain their leadership position.
With focused action plan and servicing to their clients across geographies, they will continue to add value to their investment decisions.
RETAIL BROKING
While the new government has launched several initiatives to drive growth, investments and competitiveness which has improved the macro situation, global risks are likely to prevail and be a significant trigger of volatility in financial markets. On the earnings side, FY14-17E has been largely flat and this is also key trigger to watch out.
The Company will continue to strive towards its objective of expanding the financial markets, bringing financial literacy, innovating its offering by leveraging technology for long term wealth creation for its customers.
DISTRIBUTION OF
RETAIL FINANCIAL PRODUCTS
During fiscal 2017, the mutual fund equity inflows remained net positive largely assisted by inflows through Systematic Investment Plans (SIPs) that witnessed record high inflows. Demonetisation also resulted in higher inflows and investor participation across financial assets. This trend is likely to continue as physical assets like real estate and gold might no longer be the preferred investment option. SEBI has proposed that mutual fund distributors will not be permitted to provide incidental or basic investment advice in respect of mutual fund products. The Company is registered with SEBI as a Registered Investment Adviser and is well positioned to undertake both distribution and advisory functions. The proposed change on offering incidental or basic investment advice could have an impact on the mutual fund industry. Inflows and assets under management (AUM) would depend upon the market conditions.
PRIVATE WEALTH
MANAGEMENT
The long-term fundamentals of the Indian economy, based on a positive demographic divide, are intact which will lead to increase in consumption and savings. This is likely to lead to increase in the overall HNI population in India which in turn is likely to increase the addressable market for savings and investment needs.
The Company expects to continue to build its competitive advantage through innovative products, strong advisory services and a customer-centric focus for all its services. The Company is continuously expanding and improving its client base through a wider geographical reach and by acquiring large family office relationships.
The Distribution and Wealth Management business is witnessing a phase of change and competition from new-age firms as the easing of the KYC requirement and digitization of financial services provide a positive impetus for new players. However, the disparity in wealth, rising income levels and different customer investment expectations across various segments of the population continues to provide an opportunity for the Company to offer investment guidance that can be made available to all segments of investors through its Distribution and Wealth Management Business.
The short-term outlook of the Distribution and Wealth Management business is subject to impact of the market conditions and any potential regulatory changes. The Company remains well positioned for sustained growth in the medium to long-term due to its diversified customer profile and a broad product–mix that provides opportunities to deliver an integrated solution across market conditions and supported by a comprehensive and continually developing digital platform.
AWARDS &
RECOGNITION
During the year, the Company received several accolades for its initiatives.
During the year, the Company has been awarded the “India Equity House of the Year” at 2016 IFR Asia Awards by IFR Asia for outstanding achievement and success. The Company also won the 2016 Finance Asia Achievement Awards for the BEST INDIA DEAL – ICICI Prudential Life Insurance's US$912.0 million IPO. Further, the Company not only led the IPO league table, but also managed the largest QIP of Motherson Sumi and handled seven overnight block trades including INR 39 billion sell down of Castrol India Limited. The key achievements highlighted among others are listed below:
Most active banker in the Indian IPO market handling 12 IPOs;
Deals across sectors including first IPO in the Insurance Sector raising INR 60.57 billion for ICICI Prudential Life Insurance Company Limited; and
Worked closely with Department of Investment and Public Asset Management (“DIPAM”) and instrumental in completing OFS deals and two block deals for Specified Undertaking of Unit Trust of India (“SUUTI”).
The retail division of the Company, ICICI direct, continued to win accolades for its leading position as well as innovative products. The Company won the Outlook Money Award in the Best Retail Broker category for the 12th consecutive time.
The Company also won the maiden Outlook Money Best Institutional Financial Distributor award.
The Company announced a strategic partnership with Saxo Bank, the online multi-asset trading and investment specialist, to offer Saxo's trading and investment capabilities via a digital platform to Indian Investors. The partnership will enable the Company’s four million clients on ICICIdirect.com, India's leading investment portal, to diversify their investments outside of the Indian domestic market and access multi-asset investment opportunities on 36 stock exchanges across 24 countries, through SaxoTraderGO. The clients opting for these services to invest outside of India will gain access to third party research with TradingFloor.com.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Commercial paper |
3954.100 |
1728.600 |
|
|
|
|
|
Total |
3954.100 |
1728.600 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G48542542 |
10272126 |
ICICI Bank Limited |
05/01/2011 |
19/06/2017 |
- |
3500000000.0 |
Capital Market Division, 122, Mistry Bhawan, Dinshaw Vachha Road, Fort, Mumbai 400001, Maharashtra, India |
FIXED ASSETS:
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Leasehold improvements
ICICI SECURITIES GETS
SEBI'S NOD FOR IPO
FEBRUARY 06, 2018
NEW DELHI: ICICI Securities, a subsidiary of private sector lender ICICI Bank, has received markets regulator Sebi's go-ahead to raise an estimated INR 30000.000-40000.000 million through an initial public offering.
The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in December and received 'observations' from the regulator on February 2, as per the latest update with the markets watchdog.
The 'observations' are very important to any company for launching public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.
Going by the draft red herring prospectus (DRHP), the public issue comprises sale of 64,428,280 equity shares, amounting to 20 per cent stake, by ICICI Bank.
The offer includes a reservation of up to 32.21 lakh shares for individual as well as Hindu Undivided Family (HUF) shareholders of ICICI Bank.
According to merchant banking sources, the IPO is expected to garner INR 30000.000-40000.000 million.
ICICI SECURITIES IPO
TO OPEN ON MARCH 22, PRICE BAND SET AT RS 519-520 PER SHARE
MARCH 16, 2018
ICICI Securities, an arm of ICICI Bank, has fixed a narrow price band at INR 519-520 per share for its IPO to raise little over INR 40000.000 million
Mumbai:
ICICI Securities Ltd, the brokerage and investment banking arm of ICICI Bank
Limited, on Thursday said it will launch its INR 40170.000 million
initial public offering (IPO) on 22 March.
ICICI Securities
has set a price band of Rs519-520 per share for the IPO. At the upper end of
the price band, the share sale values the company at INR 167510.000 million.
The latest valuation is lower than the initially targeted valuation of INR
250000.000 million at the time of filling its draft red herring prospectus
(DRHP). The offer will close on 26 March.
The share sale is a
pure secondary offering that will see the parent ICICI Bank sell a total of
77.24 million shares. The secondary offering will include a reservation of 3.86
million shares for ICICI Bank’s shareholders.
Incorporated in
1995, ICICI Securities offers financial services such as retail and
institutional broking, financial product distribution, investment banking,
merchant banking and advisory services to financial institutions, corporates,
retail investors and high net-worth individuals.
According to Chanda
Kochhar, chairperson of ICICI Securities, the company has been the largest
equity broking firm since 2014. “We will continue to grow on the back of
technological innovation and our growing network,” said Kochhar.
With the launch of
ICICI direct in 2000, the company started offering brokerage services online.
According to Shilpa
Kumar, MD and CEO of ICICI Securities, approximately 95% of its brokerage
transactions are done online.
“90% of our total
brokerage revenues comes from the retail,” said Kumar, adding that “40% of our
total revenues come from non-broking business.”
According to Kumar,
ICICI Securities will capitalize on Indian financial savings environment that
is undergoing a fundamental transformation with the initiative of government
such as demonetization, Aadhaar, financial inclusion and direct benefit
transfer, and also on digital transformation trend.
“We will continue
to invest in technology and innovation, strategically expand our financial
product distribution business through cross-selling and diversify revenue
streams,” added Kumar.
In 2016-17, ICICI
Securities reported total revenue of INR 14030.000 million, up 25% from the
previous fiscal. The company’s profit rose by 43% to INR 3376.100 million in
2016-17 from a year earlier.
DSP Merrill Lynch
Limited, Citigroup Global Markets India Private Limited, CLSA India Private
Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited and SBI
Capital Markets Limited are managing the ICICI Securities IPO.
ICICI Securities
will be the third company from the ICICI group to go public.
Last year, ICICI
Lombard General Insurance Co. Limited raised INR 57000.000 million in an IPO,
the first public offering by an Indian general insurance company.
In 2016, ICICI
Prudential Life Insurance Co. Limited raised INR 60000.000 million in an
initial share sale, the first public offering by an Indian life insurance
company.
In 2017, 33
companies raised INR 659230.000 million through IPOs, a record for the Indian primary
market, according to data from primary market tracker Prime Database. In 2016,
26 companies had raised INR 264938.000 million from the IPO market.
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 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKT |
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.