MIRA INFORM REPORT

 

 

Report No. :

508958

Report Date :

17.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

MUTHOOT MICROFIN LIMITED (w.e.f. 06.11.2012)

 

 

Formerly Known As :

PANCHRATNA SECURITIES LIMITED

 

PANCHRATNA STOCK AND INVESTMENT CONSULTANCY SERVICES LIMITED (w.e.f. 09.06.1994)

 

PANCHRATNA STOCK AND INVESTMENT CONSULTANCY SERVICES PRIVATE LIMITED

 

 

Registered Office :

13th Floor, Parinee Crescenzo, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra

Tel. No.:

91-484-4277500/ 4277580

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

06.04.1992

 

 

Com. Reg. No.:

11-066228

 

 

Capital Investment / Paid-up Capital :

INR 881.679 Million

 

 

CIN No.:

[Company Identification No.]

U65190MH1992PLC066228

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACP6227D1ZO

 

 

TIN No:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACP6227D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :
  • The operations of the Company are based on the Grameen model of lending. It is designed to promote entrepreneurship among women and inclusive growth. The Company provides financial assistance through micro loans to women engaged in small income generating activities. The company also facilitates entrepreneurship development and harnesses entrepreneurship skills through skill development workshops and financial literacy classes for its clients. In addition to the core business of providing micro-credit, the Company uses its distribution channel to provide loans to the members for the purchase of productivity-enhancing products such as solar lamps, mobile phones and water purifiers."
  • The company is primarily engaged in the business of Micro Finance. (Registered Activity)

 

 

No. of Employees :

Not Divulged

 

 

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

 

Maximum Credit Limit :

USD 5400000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “Muthoot Fincorp Limited” and incorporated in the year 1992 and it is having excellent track records.

 

For the financial year 2017, the company has increased in its revenue from operations as compared to previous year and maintained decent profitability margin of 15.21%.

 

Rating takes into consideration strong financial profile of the company marked by healthy networth base and average debt balance sheet.

 

Further, rating also derives strength from its strong holding company support, vast experience of the promoters, established brand equity through its group flagship business, particularly in the southern states and long track record of business operations along with market position and improvement in the revenue as well profitability profile during the year.

 

However, ratings strength is partially offset by high susceptibility to regulatory and legislative risks associated with the microfinance sector and Geographical concentration.

 

Trade relations are reported as fair. Business is active. Payment terms are seems to be regular.

 

In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Rating (A-)

Rating Explanation

Adequate degree of safety and low credit risk.

Date

30.04.2018

 

Rating Agency Name

CRISIL

Rating

Commercial Paper (A1)

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

30.04.2018

 

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 31-03-2018.

 

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 17.05.2018

 

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 :

Mrs. Renu

Designation :

HR Department

Contact No.:

91-484-4277500

Date :

12.05.2018

 

LOCATIONS

 

Registered Office :

13th Floor, Parinee Crescenzo, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

sadaf.sayeed@muthoot.com

info@muthootmicrofin.com  

Website :

http://www.muthootmicrofin.com

 

 

Administrative Office

5th Floor, Muthoot Towers, M.G. Road, Ernakulam, Kochi  – 682035, Kerala, India

Tel. No.:

91-484-4277500/ 4277580

Fax No.:

91-484-2351494

 

 

Branches:

Located At:

 

  • Kerala
  • Tamilnadu
  • Karnataka
  • Maharashtra
  • Goa
  • Gujarat
  • Punjab
  • Uttar Pradesh
  • Odisha
  • Haryana
  • Madhya Pradesh

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Thomas Muthoot

Designation :

Managing Director

Address :

Muthoot, 7/59 A, Near Kaniyampuzha Bridge Cherukad, Eroor, P. O. Ernakulam, Kochi-682306, Kerala, India

Date of Appointment :

08.05.2017

DIN No:

00082099

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U92419KL2017NPL049120

MUTHOOT PAPPACHAN CENTRE OF EXCELLENCE IN SPORTS

15/05/2017

-

U55102KL1991PTC005999

THE RIGHT AMBIENT RESORTS PRIVATE LIMITED

15/04/2009

-

U72200KL2012PLC032664

MUTHOOT PAPPACHAN TECHNOLOGIES LIMITED

16/11/2012

-

U50100KL2011PTC028259

MUTHOOT AUTOMOBILE SOLUTIONS PRIVATE LIMITED

30/04/2011

-

U50100KL2010PTC027052

MUTHOOT AUTOMOTIVE (INDIA) PRIVATE LIMITED

19/11/2010

-

U66000KA2010PTC055941

MUTHOOT RISK INSURANCE AND BROKING SERVICES PRIVATE LIMITED

22/11/2010

-

U50101KL1993PTC006928

MUTHOOT MOTORS PVT LTD

28/06/2012

-

U14108KL1994PLC007975

MUTHOOT APT CERAMICS LTD

25/06/2010

-

L67120KL1994PLC007726

MUTHOOT CAPITAL SERVICES LIMITED

18/02/1994

-

U55101KL1999PTC013114

MPG HOTELS AND INFRASTRUCTURE VENTURES PRIVATE LIMITED

05/07/1999

-

U55204MH2010PTC207721

MUSK AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

16/09/2010

-

U55204MH2010PTC207720

LINDEN AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

16/09/2010

-

U55101MH2010PTC207911

FIREWORKS AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

20/09/2010

-

U55204MH2010PTC207297

FLAME AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED

30/08/2010

-

U55101MH2010PTC207264

DOUBLE TAILS AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

30/08/2010

-

U55100MH2010PTC207342

GOBLIN AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED

31/08/2010

-

U55101KL1997PTC022576

MUTHOOT HOTELS PRIVATE LIMITED

14/06/2001

-

U55101MH2010PTC205546

MUTHOOT DAIRIES AND AGRI VENTURES PRIVATE LIMITED

16/07/2010

-

U45202KL2007PTC022412

L. M. REALTORS PRIVATE LIMITED

29/09/2015

-

U55101MH2010PTC202836

MUTHOOT AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

07/05/2010

-

U01407MH2008PTC180423

MUTHOOT AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED

25/03/2008

-

U70102KL2008PTC022351

PALAKKAD INFRASTRUCTURE PRIVATE LIMITED

15/09/2009

-

U65922KL2010PLC025624

MUTHOOT HOUSING FINANCE COMPANY LIMITED

28/06/2012

-

U92412KL2008PTC023230

MPG SPORTS ACADEMY PRIVATE LIMITED

30/09/2008

-

List of LLP

LLPIN/FLLPIN

LLP Name

Begin Date

End Date

AAA-7628

MPG HOSPITALITY LLP

13/01/2012

-

AAA-7615

MPG AIR CATERING LLP

13/01/2012

-

AAA-7655

MPG AUTOMOBILES LLP

17/01/2012

-

AAA-7667

MPG ASSET MANAGEMENT LLP

19/01/2012

-

AAA-7619

MPG LAND AND ESTATE LLP

13/01/2012

-

AAA-7623

MPG REAL ESTATE LLP

13/01/2012

-

AAA-7639

MPG LAND DEVELOPERS LLP

16/01/2012

-

AAA-8649

MPG APEX MANAGEMENT LLP

02/04/2012

-

 

 

Name :

Mr. Thomas George Muthoot

Designation :

Director

Address :

Muthoot Towers, College Road, P.O.M G Road, Ernakulam, Kochi-682306, Kerala, India

Date of Appointment :

08.05.2017

DIN No:

00011552

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U55204MH2010PTC207830

MANDARIN AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

19/09/2010

-

U55204MH2010PTC207829

FOX BUSH AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

19/09/2010

-

U55204MH2010PTC207721

MUSK AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

16/09/2010

-

U66000KA2010PTC055941

MUTHOOT RISK INSURANCE AND BROKING SERVICES PRIVATE LIMITED

22/11/2010

-

U50100KL2010PTC027052

MUTHOOT AUTOMOTIVE (INDIA) PRIVATE LIMITED

19/11/2010

-

U50100KL2011PTC028259

MUTHOOT AUTOMOBILE SOLUTIONS PRIVATE LIMITED

30/04/2011

-

U72200KL2012PLC032664

MUTHOOT PAPPACHAN TECHNOLOGIES LIMITED

16/11/2012

-

U74300KL2014PTC037248

THE THINKING MACHINE MEDIA PRIVATE LIMITED

05/09/2014

-

U55204MH2010PTC207720

LINDEN AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

16/09/2010

-

U92419KL2017NPL049120

MUTHOOT PAPPACHAN CENTRE OF EXCELLENCE IN SPORTS

15/05/2017

-

U55101MH2010PTC207911

FIREWORKS AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

20/09/2010

-

U55101MH2010PTC207264

DOUBLE TAILS AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

30/08/2010

-

U55204MH2010PTC207090

BUTTERCUP AGRI PROJECTS AND HOSPITALITIES PRIVATE LIMITED

26/08/2010

-

U55101MH2010PTC207038

JUNGLE CAT AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

25/08/2010

-

U70100KL2010PTC025895

MUTHOOT PROPERTIES (INDIA) PRIVATE LIMITED

30/09/2015

-

U65922KL2010PLC025624

MUTHOOT HOUSING FINANCE COMPANY LIMITED

05/03/2010

-

U92412KL2008PTC023230

MPG SPORTS ACADEMY PRIVATE LIMITED

30/09/2008

-

U70102KL2008PTC022351

PALAKKAD INFRASTRUCTURE PRIVATE LIMITED

15/09/2009

-

U85110KL2007PTC021238

MUTHOOT PAPPACHAN MEDICARE PRIVATE LIMITED

27/09/2010

-

U65991TN1984NPL010689

FINANCE COMPANIES' ASSOCIATION (INDIA)

01/08/2009

-

U55101KL1997PTC022576

MUTHOOT HOTELS PRIVATE LIMITED

01/01/2007

-

U65190MH1992PLC066228

MUTHOOT MICROFIN LIMITED

10/05/2017

-

U55101KL1999PTC013114

MPG HOTELS AND INFRASTRUCTURE VENTURES PRIVATE LIMITED

05/07/2006

-

L67120KL1994PLC007726

MUTHOOT CAPITAL SERVICES LIMITED

18/02/1994

-

U14108KL1994PLC007975

MUTHOOT APT CERAMICS LTD

15/06/1994

-

List of LLP

LLPIN/FLLPIN

LLP Name

Begin Date

End Date

AAA-7628

MPG HOSPITALITY LLP

13/01/2012

-

AAA-7615

MPG AIR CATERING LLP

13/01/2012

-

AAA-7655

MPG AUTOMOBILES LLP

17/01/2012

-

AAA-7667

MPG ASSET MANAGEMENT LLP

19/01/2012

-

AAA-7619

MPG LAND AND ESTATE LLP

13/01/2012

-

AAA-7623

MPG REAL ESTATE LLP

13/01/2012

-

AAA-7639

MPG LAND DEVELOPERS LLP

16/01/2012

-

AAA-8649

MPG APEX MANAGEMENT LLP

02/04/2012

-

 

 

Name :

Mr. Thomas John Muthoot

Designation :

Director

Address :

TC 4/1008, (1) Kawdiar Kawdiar, P.o. Trivandrum-695003, Kerala, India

Date of Appointment :

08.05.2017

DIN No:

00011618

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U92419KL2017NPL049120

MUTHOOT PAPPACHAN CENTRE OF EXCELLENCE IN SPORTS

15/05/2017

-

U92490KL2017NPL048678

TRIVANDRUM CENTRE FOR PERFORMING ARTS

23/03/2017

-

U72200KL2012PLC032664

MUTHOOT PAPPACHAN TECHNOLOGIES LIMITED

16/11/2012

-

U50100KL2011PTC028259

MUTHOOT AUTOMOBILE SOLUTIONS PRIVATE LIMITED

30/04/2011

-

U50100KL2010PTC027052

MUTHOOT AUTOMOTIVE (INDIA) PRIVATE LIMITED

19/11/2010

-

U66000KA2010PTC055941

MUTHOOT RISK INSURANCE AND BROKING SERVICES PRIVATE LIMITED

22/11/2010

-

U55204MH2010PTC207835

MARIPOSA AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

19/09/2010

-

U55101KL1999PTC013114

MPG HOTELS AND INFRASTRUCTURE VENTURES PRIVATE LIMITED

05/07/1999

-

U55101KL1997PTC022576

MUTHOOT HOTELS PRIVATE LIMITED

01/01/2007

-

U45202KL2007PTC022412

L. M. REALTORS PRIVATE LIMITED

30/09/2008

-

U65929KL1997PLC011518

MUTHOOT FINCORP LIMITED

01/02/2013

-

U55204MH2010PTC207721

MUSK AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

16/09/2010

-

U45400KL2007PTC026496

EMMEL REALTORS AND DEVELOPERS PRIVATE LIMITED

30/09/2010

-

L67120KL1994PLC007726

MUTHOOT CAPITAL SERVICES LIMITED

18/02/1994

-

U55204MH2010PTC207720

LINDEN AGRI VENTURES AND HOSPITALITIES PRIVATE LIMITED

16/09/2010

-

U85110KL2007PTC021238

MUTHOOT PAPPACHAN MEDICARE PRIVATE LIMITED

27/09/2010

-

U55101MH2010PTC207911

FIREWORKS AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

20/09/2010

-

U14108KL1994PLC007975

MUTHOOT APT CERAMICS LTD

15/06/1994

-

U55101MH2010PTC207264

DOUBLE TAILS AGRI DEVELOPMENT AND HOSPITALITIES PRIVATE LIMITED

30/08/2010

-

U50101KL1993PTC006928

MUTHOOT MOTORS PVT LTD

18/01/1993

-

U70102KL2008PTC022351

PALAKKAD INFRASTRUCTURE PRIVATE LIMITED

06/05/2008

-

U92412KL2008PTC023230

MPG SPORTS ACADEMY PRIVATE LIMITED

30/09/2008

-

U65922KL2010PLC025624

MUTHOOT HOUSING FINANCE COMPANY LIMITED

05/03/2010

-

U67120KL2010PLC025792

MUTHOOT EQUITIES LIMITED

06/04/2010

-

U70100KL2010PTC025894

MUTHOOT BUILDTECH (INDIA) PRIVATE LIMITED

23/04/2010

-

U70102KL2010PTC025888

MUTHOOT LAND AND ESTATES PRIVATE LIMITED

23/04/2010

-

List of LLP

LLPIN/FLLPIN

LLP Name

Begin Date

End Date

AAA-7628

MPG HOSPITALITY LLP

13/01/2012

-

AAA-7615

MPG AIR CATERING LLP

13/01/2012

-

AAA-7655

MPG AUTOMOBILES LLP

17/01/2012

-

AAA-7667

MPG ASSET MANAGEMENT LLP

19/01/2012

-

AAA-7619

MPG LAND AND ESTATE LLP

13/01/2012

-

AAA-7623

MPG REAL ESTATE LLP

13/01/2012

-

AAA-7639

MPG LAND DEVELOPERS LLP

16/01/2012

-

AAA-8649

MPG APEX MANAGEMENT LLP

02/04/2012

-

 

 

Name :

Mr. Alok Prasad

Designation :

Director

Address :

144, Vista Villas, Opposite Unitech Cyber Park, Sector-46, Gurugram – 122001, Haryana, India

Date of Appointment :

10.05.2017

DIN No:

00080225

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U67120GJ1995PLC025373

FINCARE SMALL FINANCE BANK LIMITED

28/09/2017

-

U65922HR2016PTC057984

UMMEED HOUSING FINANCE PRIVATE LIMITED

21/08/2017

-

U74999KA2017PTC106847

ACCELA FIDUCIARY SERVICES PRIVATE LIMITED

27/11/2017

-

U65999HP2017PTC006793

GANG-JONG DEVELOPMENT FINANCE PRIVATE LIMITED

27/11/2017

-

 

 

Name :

Mr. Kenneth Dan Vander Weele

Designation :

Director

Address :

445-E, North Water Streeterville Apartments, 2101, Chicago Illinois 606115566 United States

Date of Appointment :

27.12.2016

DIN No:

002545813

 

 

Name :

Pushpy Muricken

Designation :

Additional Director

Address :

44/1068, Kodiyatt 37, Elamkulam, Kochi-682020, Kerala, India

Date of Birth/Age :

08.05.1974

Date of Appointment :

31.03.2018

DIN No:

03431198

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74140KL2011PTC027684

BRAINSTREAM ADVISORS PRIVATE LIMITED

28/11/2011

-

 

 

Name :

Mr. Thomas Muthoot John

Designation :

Director

Address :

T.C.4/1008 (1) Kowdiar P.o., Trivandrum-695003, Kerala, India

Date of Appointment :

01.12.2016

DIN No:

07557585

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U15135KL2016PTC040041

PLANTERSTREASURE ENTERPRISES PRIVATE LIMITED

09/08/2016

-

 

 

Name :

Mr. Amitvikram Talgeri

Designation :

Additional Director

Address :

L1, Guruprasad, Hanuman Road, Near Kadaytha Hall, Vile Parle (East) Mumbai-400057, Maharashtra, India

Date of Birth/Age :

 28.07.1972

Date of Appointment :

31.03.2018

DIN No:

08098843

 

 

KEY EXECUTIVES

 

Name :

Mrs. Neethu Ajay

Designation :

Company Secretary

Address :

Kurikottu House, St. Vincent Convent Road Palarivattom P O., Kochi-682025, Kerala, India

Date of Appointment :

13.02.2014

DIN No:

BLYPA6306B

 

 

Name :

Mr. Thoroppady Praveen

Designation :

Chief Finance Officer

Address :

Thoroppady House, Thuruthy P.O, Ernakulam,  Kochi – 683545, Kerala, India

Date of Appointment :

26.12.2016

DIN No:

AHKPT6423D

 

 

Name :

Mr. Sadaf Sayeed

Designation :

Chief Executive Officer

Address :

3A-103, GC Grand, Vaibhav Khand, Indirapuram, Ghaziabad-201010, Uttar Pradesh, India

Date of Appointment :

01.08.2015

DIN No:

AYBPS0327F

 

Name :

PSN and Associates

Designation :

Company Secretary

Address :

Sreenarayan, SRA 24, Seevelinagar, Kaithamukku, P.O. Thiruvananthapuaram-695024, Kerala, India

Mobile No:

91-7510504001/ 7510604001

Email:

service@signps.com

companysecretary@signpsn.com

 

 

Name :

Mrs. Renu

Designation :

HR Department

 

 

Senior Management Team

Mr. Udeesh Ullas - Vice President, Operations

Mr. Subhransu Pattnayak - Vice President – HR & Products

Mr. Senthi V - Senior Associate Vice President – Agri Business

Mr. Dileep Pathak - Senior Associate Vice President – Internal Audit and Risk

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders (Equity Shares)

 

No. of Shares

Thomas Muthoot

 

4491496

Thomas George Muthoot

 

4471519

Thomas John Muthoot

 

4472929

Muthoot Fincorp Limited, India

 

70026532

Nina George

 

122870

Preethi John

 

121180

Remy Thomas

 

101460

Creation Investments India LLC, India  

 

43600

Total

 

83851586

 

Names of Shareholders (Preference Shares)

 

No. of Shares

Creation Investments India LLC, India  

 

4316358

Total

 

4316358

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 10.05.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

16.44

Promoters -Individual/Hindu Undivided Family-(Foreign National (Other than NRI)

83.51

Public/Other than promoters (Body corporate)

0.05

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • The operations of the Company are based on the Grameen model of lending. It is designed to promote entrepreneurship among women and inclusive growth. The Company provides financial assistance through micro loans to women engaged in small income generating activities. The company also facilitates entrepreneurship development and harnesses entrepreneurship skills through skill development workshops and financial literacy classes for its clients. In addition to the core business of providing micro-credit, the Company uses its distribution channel to provide loans to the members for the purchase of productivity-enhancing products such as solar lamps, mobile phones and water purifiers."
  • The company is primarily engaged in the business of Micro Finance. (Registered Activity)

 

 

Products / Services :

ITC/ NPCS Code No.

Products/Services Description

99711400

Microfinance Lending

 

 

NIC Code

Products/Services Description

64990

Lending

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :
  • Axis Bank Limited
  • Bandhan Bank
  • Bank of Maharashtra
  • Catholic Syrian Bank
  • DCB Bank Limited
  • Dhanlaxmi Bank Limited
  • HDFC Bank Limited
  • IDBI Bank Limited
  • IndusInd Bank Limited
  • Lakshmi Vilas Bank
  • Oriental Bank of Commerce
  • State Bank of India
  • State Bank (Mauritius) Limited
  • State Bank of Travancore
  • South Indian Bank
  • SIDBI
  • Syndicate Bank
  • Tamilnad Mercantile Bank
  • The Federal Bank Limited
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank
  • Yes Bank Limited

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Redeemable non-convertible debentures

2050.000

0.000

Finance Lease Obligation

0.537

0.000

Term Loans

 

 

From Banks

7342.052

2985.646

From other financial Institutions

1670.726

1142.723

Total (A)

11063.315

4128.369

 

 

 

Less:

 

 

Term Loans

 

 

From Banks

3035.973

1373.172

From other financial Institutions

791.085

511.758

Current Maturities of finance lease obligations

0.107

0.000

Total (B)

3827.165

1884.930

Total  (A-B) C

7236.150

2243.449

 

Auditors :

 

Name :

Walker Chandiok and Co. LLP

Chartered Accountants

Address :

7th Floor, Prestige Polygon, 471, Anna Salai, Teynampet, Chennai – 600018, Tamilnadu, India

Tel. No.:

91-44-42940000

Fax No.:

91-44-42940044

Income-tax PAN of auditor or auditor's firm :

AAAFW4298E

 

 

Internal Auditors

 

Name :

Thomas Jacob and Company

Chartered Accountants

Address :

TC 13/386, MRA 186, Vanchiyoor P.O., Trivandrum - 695 035, Kerala, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:

Muthoot Fincorp Limited (CIN No:U65929KL1997PLC011518)

 

 

Entities in which KMP are able to exercise control or have significant influence:

  • Muthoot Pappachan Technology Limited
  • MML Employss Welfare Trust
  • Muthoot Pappachan Foundation

 

 

 

CAPITAL STRUCTURE

 

After: 10.05.2017

 

Authorised Capital : INR 2000.000 million

 

Issued, Subscribed & Paid-up Capital : INR 1141.705 million

 

 

AS ON: 10.05.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150000000

Equity Shares

INR 10/- each

INR 1500.000 Million

50000000

Preferences Shares

INR 10/- each

INR 500.000 Million

 

Total

 

INR 2000.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

83851586

Equity Shares

INR 10/- each

INR 838.516 Million

4316358

Preferences Shares

INR 10/- each

INR 43.163  Million

 

Total

 

INR 881.679 Million

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

31.03.2015

I.      EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

881.679

600.000

55.000

(b) Reserves & Surplus

1008.480

91.815

(2.286)

(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)

1890.159

691.815

52.714

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

7486.150

2243.439

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

15.803

12.299

0.000

(d) long-term provisions

38.059

22.466

0.000

Total Non-current Liabilities (3)

7540.012

2278.204

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

0.000

0.000

0.000

(c) Other current liabilities

5059.737

2279.678

0.156

(d) Short-term provisions

88.129

29.394

0.008

Total Current Liabilities (4)

5147.866

2309.072

0.164

 

 

 

 

TOTAL

14578.037

5279.091

52.878

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

70.632

22.264

0.009

(ii) Intangible Assets

1.152

0.712

0.000

(iii) Capital work-in-progress

5.254

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

34.831

17.943

1.062

(d) Long-term Loan and Advances

34.010

5.603

0.765

(e) Loan Receivables

3341.374

1630.425

0.409

(f) Other Non-current assets

567.990

170.157

0.000

Total Non-Current Assets

4055.243

1847.104

2.245

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

17.760

7.214

0.000

(d) Cash and cash equivalents

3463.800

602.877

49.374

(e) Short-term loans and advances

5.604

0.166

0.150

(f) Loan Receivables

6577.492

2685.943

0.439

(g) Other Non-current assets

458.138

135.788

0.670

Total Current Assets

10522.794

3431.987

50.633

 

 

 

 

TOTAL

14578.037

5279.091

52.878

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

2438.412

521.545

3.803

 

Other Income

0.027

0.016

0.000

 

TOTAL

2438.439

521.561

3.803

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Employees benefits expense

652.310

83.344

0.872

 

Other expenses

386.328

81.422

5.191

 

TOTAL

1038.638

164.766

6.063

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1399.801

356.795

(2.260)

 

 

 

 

 

Less

FINANCIAL EXPENSES

817.859

210.614

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

581.942

146.181

(2.260)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

9.730

0.166

0.034

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

572.212

146.015

(2.294)

 

 

 

 

 

Less

TAX

201.830

51.914

(0.709)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

370.831

94.101

(1.585)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

4.88

2.10

(0.29)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

3827.165

1884.930

0.000

Cash generated from operations

(4484.162)

(3890.052)

(3.837)

Net cash flows from (used in) operating activity

(4688.900)

(3956.312)

(4.213)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

2.66

5.05

0.00

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

137.30

72.30

0.00

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

18.17

15.53

-251.11

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

1.13

1.22

0.00

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

5.99

5.97

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.72

3.34

0.00

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.04

0.03

0.00

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.71

1.69

0.00

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

15.21

18.04

(41.68)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

2.54

1.78

(3.00)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

19.62

13.60

(3.01)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.04

1.49

308.74

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.04

1.49

308.74

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.13

0.13

1.00

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

12.83

6.88

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.04

1.49

308.74

 

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

55.000

600.000

881.679

Reserves & Surplus

(2.286)

91.815

1008.480

Net worth

52.714

691.815

1890.159

 

 

 

 

long-term borrowings

0.000

2243.439

7486.150

Short term borrowings

0.000

0.000

0.000

Current maturities of long-term debts

0.000

1884.930

3827.165

Total borrowings

0.000

4128.369

11313.315

Debt/Equity ratio

0.000

5.967

5.985

 

 

 

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

3.803

521.545

2438.412

 

 

13,614.042

367.536

 

 

 

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

3.803

521.545

2438.412

Profit /(Loss)

(1.585)

94.101

370.831

 

(41.68%)

18.04%

15.21%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

STATE OF COMPANY’S AFFAIRS:

 

The Company is a NBFC-MFI registered with Reserve Bank of India. And being an MFI the company is dedicated to serve the bottom of pyramid section of society by providing customized financial services to the needy, underserved and those who have limited access to regular financial institutions and banks. Microfinance operations of the company is based on the Grameen model of lending; it is designed to promote entrepreneurship among women and inclusive growth. The Company provides financial assistance through micro loans to women engaged in small income generating activities.

 

During the year, the Company has made progress in its business operation as projected. As on 31st March 2017, the total disbursements of loans under different products were INR 20285.600 Million. The Company had 399 Branches spread across 11 States of India i.e., Kerala, Tamil Nadu, Karnataka, Maharashtra, Goa, Gujarat, Punjab, Uttar Pradesh, Odisha, Haryana and Madhya Pradesh. The Company’s borrower base is 765541 and the portfolio outstanding as on March 31, 2017 is INR 17745.800 Million (including managed/ securitized portfolio of INR 7693.900 Million)

 

During the year, the Company’s Revenue from Operations and other income was INR 2438.439 million with a net profit of INR 370.831 million. The funding source for the Company was through private placement of Non-Convertible Debentures (“NCDs”) and borrowings from banks/ financial institutions by way of term loans as summarized below.

 

 

BACKGROUND

 

The Company was incorporated as a private limited company in the year 1992 under the erstwhile Companies Act, 1956. Effective 18 March 1998, the Company was registered as a non-deposit accepting Non-Banking Financial Company ('NBFC-ND') under the rules and regulations framed by the Reserve Bank of India ('the RBI'). In accordance with the Notification issued by the RBI vide reference no. RBI/2011-12/290, DNBS.CC.PD.No.250/03.10.01/2011-12, dated 2 March, 2011, the Company has obtained registration under the category of Non-Banking Financial Company - Micro Finance Institutions ('NBFC-MFI'), w.e.f 25 March 2015. During the current year, the Company had its non-convertible debentures listed on the Bombay Stock Exchange ('BSE').

 

The operations of the Company are based on the Grameen model of lending. It is designed to promote entrepreneurship among women and inclusive growth. The Company provides financial assistance through micro loans to women engaged in small income generating activities. The company also facilitates entrepreneurship development and harnesses entrepreneurship skills through skill development workshops and financial literacy classes for its clients.

 

In addition to the core business of providing micro-credit, the Company uses its distribution channel to provide loans to the members for the purchase of productivity-enhancing products such as solar lamps, mobile phones and water purifiers."

 

CONTINGENT LIABILITIES

 

Credit enhancements (cash collateral and principal subordination) provided by the Company towards securitization transactions aggregating to INR 63.322 Million (31 March 2016: INR 116.748 million).

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Term Loans

 

 

From other financial Institutions

250.000

0.000

Total

250.000

0.000

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G82386202

100165282

MAANAVEEYA DEVELOPMENT & FINANCE PRIVATE LIMITED

15/03/2018

-

-

350000000.0

HOUSE NO. 8-2-293/82/2/208/A and 208/A/1M.L.A's COLONY, BANJARA HILLS, ROAD NO. 12HYDERABADTe500034IN

2

G79378980

100160321

YES BANK LIMITED

26/02/2018

-

-

1500000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

3

G77738987

100156430

HERO FINCORP LIMITED

30/01/2018

-

-

250000000.0

09, COMMUNITY CENTRE, BASANT LOKVASANT VIHARNEW DELHIDL110057IN

4

G77146389

100155089

SHINHAN BANK

30/01/2018

-

-

250000000.0

Survey no:69/4A1, Bangalore Highway Road,Thandalam Village,Sriperumbudur Taluk,KancheepuramKancheepuramTN602105IN

5

G76869346

100154514

KOTAK MAHINDRA BANK

04/01/2018

-

-

500000000.0

GROUND FLOOR, CHERUKARA TOWERSCOLLECTORATEKOTTAYAMKL686001IN

6

G73367823

100146296

State Bank of India

30/12/2017

-

-

1000000000.0

COMMERCIAL BRANCH, SREE GANESH KRIPA,JAS HOTEL ROAD, THYCAUD, THIRUVANANTHAPURAMTHIRUVANANTHAPURAMKL695014IN

7

G72966443

100145127

ANDHRA BANK

29/12/2017

-

-

500000000.0

AJAY VIHAR, MG ROAD,ERNAKULAM,ERNAKULAMKL682016IN

8

G73197501

100145820

WOORI BANK

22/12/2017

-

-

400000000.0

LOTTE INDIA,2ND FLOOR, No.4/169,RAJIV GANDHI SALAI(OMR), KANDHANCHAVADI,PERUNGUDI TALUKCHENNAITN600096IN

9

G73196412

100145816

MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED

19/12/2017

-

-

500000000.0

GATEWAY BUILDING, APOLLO BUNDER,MUMBAIMa400001IN

10

G70348651

100140371

United Bank of India

29/11/2017

-

-

250000000.0

MADRAS BRANCH, NO.117,ARMENIAN STREETCHENNAITN600001IN

 

 

FIXED ASSETS

  • Computer and Accessories
  • Furniture and Fixture
  • Office Equipment
  • Vehicles
  • Electrical Fittings

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 67.83

UK Pound

1

INR 91.68

Euro

1

INR 80.29

 

 

INFORMATION DETAILS

 

Information Gathered by :

TJL

 

 

Analysis Done by :

PSD

 

 

Report Prepared by :

MTN

 

 

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)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.