Financial Services Sector

India has a diversified financial sector undergoing rapid expansion,

both in terms of strong growth of existing financial services firms
and new entities entering the market.
The sector comprises commercial banks, insurance companies,
non-banking financial companies, co-operatives, pension funds,
mutual funds and other smaller financial entities
However, the financial sector in India is predominantly a banking
sector with commercial banks accounting for more than 64 per
cent of the total assets held by the financial system.
The financial services sector has been an important contributor to
the country gross domestic product (GDP) accounting for nearly 6
per cent share in 2014-15..
The size of banking assets in India reached US$ 1.4 trillion as on
August 21, 2015 and is expected to touch US$ 28.5 trillion by
FY25.

Paul Merchants
Vision:
To be a market leader, better known for its corporate culture
where TOTAL QUALITY and TOTAL COMPLIANCE are two
religions, where the mission is to provide Total Services under
One Roof in Financial Services Sector to the utmost satisfaction of
the customer
Company profile:
The illustrious Journey of PML started in the year 1991 with its
founder Mr Sat Paul Bansal acquiring an existing Company known
as Brite Agro Mills Ltd from its then promoters.
The company has diversified interests in Forex, International
Money Transfer, Tours, Travels and Holidays Packages and Air
Ticketing.
Franchise of western union financial services.
Capital details:
Authorized Capital: Rs.2,00,00,000.00
Paid-up Capital: Rs.1,02,80,000.00

Services Offered
Foreign Exchange
PML is rated amongst top sellers of American Express (AMEX) Travellers
Cheques in India and is offering the services of Foreign Exchange from its
offices situated in all major cities across the length and breadth of the
country.
International Money Transfer:
PML is ranked as the top Principal Agent of Western Union in whole of Asia
Pacific Region.
The sub agents of PML includes Banks, big Corporates, PSUs, FFMCs & big
Retail chains
The company is providing this service from as many as more than 20000
locations all over India
Tours & Travels:
In the year 2007, PML made foray into the highly promising sector of
International Tours, Ticketing & Holiday Packages (Both Domestic &
International)
PML also has tie ups with IRCTC for railway booking and a number of
Foreign Suppliers for offering all types of travel packages
It
operates
online
through
www.pmlholidays.com
(B2B
Site),www.travelyatra.com (B2C Site) and incredibleindiaexcursions.com.

Financial Highlights
Particulars
Operating Profit
Margin(%)

2015

2014

1.28

1.33

Net Profit Margin(%)

0.73

0.82

Return On Capital
Employed(%)

20.54

14.22

Current Ratio

2.01

0.99

Debt Equity Ratio

0.16

0.89

Earnings Per Share

154.30

160.31

P/E ratio

26.28

Accounting Policies
The financial statements are prepared under the historical cost
convention.
Own Fixed Assets:
Fixed Assets are stated at cost net of recoverable taxes and includes
amounts added on revaluation, less accumulated depreciation and
impairment loss, if any.
All costs, including financing costs, net charges on foreign exchange
contracts and adjustments arising from exchange rate variations
attributable to the fixed assets are capitalised.
Depreciation:
Depreciation on fixed assets is provided to the extent of depreciable
amount on written down value method (WDV) at the rates and in the
manner prescribed in Schedule XIV to the Companies Act.
Revenue Recognition:
Revenue is recognized only when it can be reliably measured and it is
reasonable to expect ultimate collection.
Revenue from operations includes sale of Foreign Exchange and Services.
Dividend income is recognized on receipt basis.
Interest income is recognized on time proportion basis taking into
account the amount outstanding and rate applicable.

Accounting Policies(contd)
Foreign Currency Transactions:
The Company undertakes Inward Money Transfer Services in
Association with Western Union Financial Service Inc. U.S.A. and in
the process receives the remittances from Western Union in US
Dollars, which are credited to the Companys Bank account at the
exchange rates prevailing on the date of receipt.
Foreign Currency Fixed Deposits, Balances in Foreign Currency
Bank Accounts and other Foreign Currency receivables or payables
are valued at year end rates and gains/losses due to exchange
rate differences have been adjusted in Profit & Loss Account.
Inventories:
Stock of Foreign Currency/TC and Stock of Shares held for trading
purposes has been valued at cost.
Provisions, Contingent Liabilities and Contingent Assets:
Contingent Liabilities are not recognised but are disclosed in the
notes.
Contingent Assets are neither recognized nor disclosed in the
financial statements.

Management Discussion & Analysis

International Remittance Industry:
Revenue from this Division stood at Rs. 11417 Lacs as against
the previous
year figures of Rs. 11491 lacs
Forex Division:
The total turnover from this division increased to Rs. 2012.55
crores as
compared to previous year figures of Rs. 1840.38 crores,
registering a growth
of 9.36%.
Tourism:
Earnings (FEEs) from tourism in terms of US dollar grew by 7.1
per cent during
January- December 2014 as compared to 5.9 per cent over the
corresponding
period of 2013

Directors Report

No dividend in order to reinvest the earnings in

the growth of business.
The Company has adopted a policy for
prevention of Sexual Harassment of Women at
workplace and has set up Committee for
implementation.
Conservation of energy, technology absorption,
foreign exchange earning
The Company has in place comprehensive risk
assessment and minimization procedures, which
are reviewed by the Board periodically

Intangible Asset
As on 31 March 2015 -- Intangible
Assets (Computer Software) under
Development worth Rs 12 lac

SWOT Analysis

Strength
Good market share
Favorable access to
distribution network
Global brand
Segmented tourist
packages
Weakness
Poor transport
infrastructure
High cost of operation
Fluctuation in foreign
exchange rate.

Opportunity
- Focus of the Govt. on
increasing the Industrial
production
- New Emerging corridors like
Australia, New Zealand
- Migration
-Rising income level
Threat
- Rising competition and rising
cost of operation
- Stiffening regulatory
environment
-Currency risk

Thank You