MIRA
INFORM REPORT
|
Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ADITYA BIRLA RETAIL LIMITED |
|
|
|
|
Formerly Known As : |
PUSHPAK FINANCE AND INVESTMENTS LIMITED |
|
|
|
|
Registered Office : |
“More. Centre”, Sahar Airport Road, Andheri (East), Mumbai – 400 099,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
14.07.1988 |
|
|
|
|
Com. Reg. No.: |
11-48117 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U65990MH1988PLC048117 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA28583C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACP2678Q |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business : |
Chain of Departmental Stores. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 910000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a pert of Aditya Birla Group. It was incorporated to
undertake nation wide retail business under the name and style of More. The
group has ambitious plans in hand and has incurred house promotional
expenditure which has been reflected in the Balance Sheet. Trade relations
are fair. Payments are usually correct and as per commitments. The company can be considered good for any normal business
dealings. |
LOCATIONS
|
Registered Office : |
“More. Centre”, Sahar Airport Road, Andheri (East), Mumbai – 400 099,
Maharashtra, India |
|
Tel. No.: |
91-22-22073341 / 66525000 / 24995000 |
|
Fax No.: |
91-22-66525841 / 24995841 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Rohit Dhoot |
|
Designation : |
Director |
|
Date of Birth/Age : |
29.09.1968 |
|
Date of Appointment : |
27.08.1992 |
|
|
|
|
Name : |
Mr. Shailesh Daga |
|
Designation : |
Director |
|
Date of Birth/Age : |
18.03.1968 |
|
Date of Appointment : |
27.08.1992 |
|
|
|
|
Name : |
Mr. Sumant Sinha |
|
Designation : |
Additional Director |
|
Address : |
33/34 Floor, Suraj Millenium Towers, Bhulabhai Desai Road, Mumbai –
400 026, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1965 |
|
Date of Appointment : |
10.11.2006 |
|
|
|
|
Name : |
Mr. Vikram Dhondu Rao |
|
Designation : |
Director |
|
Address : |
No. 395, 16th Main, II ‘A’ Cross, III Block, Koramangala,
Bangalore – 560 034, Karnataka, India |
|
Date of Birth/Age : |
10.09.1950 |
|
Date of Appointment : |
10.11.2006 |
|
|
|
|
Name : |
Mr. Girish Mohanlal Dave |
|
Designation : |
Additional Director |
|
Address : |
Dave and Girish and Company, Advocates, 1st Floor, Sethna
Building, 55 Maharshi Karve Road, Marine Lines, Mumbai – 400 002,
Maharashtra, India |
|
Date of Birth/Age : |
12.07.1938 |
|
Date of Appointment : |
22.04.2008 |
|
|
|
|
Name : |
Mr. Thomas Varghese |
|
Designation : |
Director |
|
Address : |
Flat No. 502, Park Lane Apartments, 26th Road, Tips – III,
St. Theresa’s School, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
03.03.1961 |
|
Date of Appointment : |
01.08.2008 |
|
|
|
|
Name : |
Mr. Kamlesh Shivji Vikamsey |
|
Designation : |
Additional Director |
|
Address : |
194, Kalpataru Habitat, Tower – A, Dr. S S Road, Parel, Mumbai – 400
012, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1960 |
|
Date of Appointment : |
22.04.2008 |
|
|
|
|
Name : |
Mr. Bimal Kumar Maheshwari |
|
Designation : |
Director |
|
Address : |
39, Upper Wood Street, 2nd Floor, Kolkata – 700 016, West
Bengal, India |
|
Date of Appointment : |
27.08.1992 |
|
|
|
|
Name : |
Mr. Lakhi Prasad Goenka |
|
Designation : |
Director |
|
Address : |
Seksana Building, 2nd Floor, Marine Drive, Mumbai – 400
020, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1935 |
|
Date of Appointment : |
27.08.1992 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.07.2006)
|
Names of Shareholders |
No. of Shares |
|
Peigeon Finance and Investment Private Limited |
50000 |
|
G K Tulsian |
10 |
|
Sushil Ganesham Agarwal |
10 |
|
Suresh Pitale |
10 |
|
Omprakash Jajodia |
10 |
|
Vivek Pendharkar |
10 |
|
Nitin Madhura |
10 |
|
Other Shareholders |
10 |
|
|
|
|
Total |
50070 |
List of Allotment (As on 08.07.2008)
|
Names of Allottees |
No. of Shares |
|
Kanishtha Finance and Investment Private Limited |
49949930 |
|
|
|
|
Total |
49949930 |
List of Allotment (As on 08.07.2008)
|
Names of Allottees |
No. of Shares |
|
Kanishtha Finance and Investment Private Limited |
50000000 |
|
|
|
|
Total |
50000000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Chain of Departmental Stores. |
GENERAL
INFORMATION
|
Bankers : |
Union Bank of India Yashwant Bhavan, P B marg, Lower Parel Branch, Lower Parel, Mumbai –
400 013, Maharashtra, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Maker Towers “E”, 4th Floor, Cuffe Parade, Mumbai – 400
005, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
·
Trinethra Superretail Private Limited CIN No.: U52520AP1990PTC011172 ·
H A S Two Holdings Private Limited CIN No.: U64202KA1999PTC025649 ·
Terrafirma Agroprocessing (India) Private Limited CIN No.: U15499AP2005PTC047082 ·
Fabmall (India) Private Limited CIN No.: U18101KA2002PTC031385 |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
500.000 |
0.501 |
0.101 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(317.777) |
(0.060) |
(0.039) |
|
|
NETWORTH |
182.223 |
0.441 |
0.062 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
6438.435 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
6438.435 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6620.658 |
0.441 |
0.062 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
119.999 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
6.430 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
6387.393 |
0.361 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.033
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
60.081
|
0.008 |
0.005 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
154.480
|
0.098 |
0.098 |
|
Total
Current Assets |
218.594
|
0.106 |
0.103 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
107.848
|
0.008 |
0.023 |
|
|
Provisions |
3.910
|
0.018 |
0.018 |
|
Total
Current Liabilities |
111.758
|
0.026 |
0.041 |
|
|
Net Current Assets |
106.836
|
0.080 |
0.062 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6620.658 |
0.441 |
0.062 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
10.041 |
0.000 |
0.000 |
|
|
Total Income |
10.041 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
(316.114) |
(0.020) |
(0.029) |
|
|
Provision for Taxation |
1.603 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
(317.717) |
(0.020) |
(0.029) |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Salaries, Wages, Bonus, etc. |
74.118 |
0.000 |
0.000 |
|
|
Payment to Auditors |
1.000 |
0.004 |
0.002 |
|
|
Interest |
1.938 |
0.000 |
0.000 |
|
|
Power & Fuel |
1.721 |
0.001 |
0.003 |
|
|
Depreciation & Amortization |
2.416 |
0.000 |
0.000 |
|
|
Other Expenditure |
244.962 |
0.015 |
0.024 |
|
Total Expenditure |
326.155 |
0.020 |
0.029 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
(3164.20)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(88.15)
|
(18.87) |
(28.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.73)
|
(0.05) |
(0.47) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
35.95
|
0.06 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.96
|
4.08 |
2.51 |
LOCAL AGENCY
FURTHER INFORMATION
Note
The Registered Office of the company has been shifted from Aditya Birla
Center, S K Ahire Marg, Worli, Mumbai –
400 030, Maharashtra, India to the present address w.e.f. 18.06.2008
Form No. 8
|
Corporate identity
number of the company |
U65990MH1988PLC048117 |
|
Name of the
company |
ADITYA BIRLA RETAIL LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Aditya Birla Center, S K Ahire Marg, Worli, Mumbai – 400 030,
Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Union Bank of India Yashwant Bhavan, P B marg, Lower Parel Branch, Lower Parel, Mumbai –
400 013, Maharashtra, India |
|
Nature of
instrument creating charge |
Composite
Hypothecation Deed (DS-20) |
|
Date of
instrument Creating the charge |
29.10.2007 |
|
Amount secured by
the charge |
Rs.2300.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest For Working Capital Facilities and Term Loan : @ 11.25% p.a. ·
Terms of
repayment Term Loan to be repaid in 20 quarterly installments. The repayment to
commence after 24 months from first disbursement ·
Margin For Working Capital Facilities : 25% and for Term Loan : 33% ·
Extent and
operation of the charge For Working Capital facilities, hypothecation of Stocks duly insured
with usual bank clauses and Book Debts For Term Loan, first charge on the fixed assets created out of the
loan. |
|
Particulars of
the property charged |
For Working
Capital facilities, hypothecation of Stocks belonging to the company wherever
situated and all the present and future Book Debts For Term Loan,
first charge on the fixed assets created out of the loan lying in the
premises of the company. |
Web Details
Aditya Birla Group has been a premier branded garments player in the
Indian retail market. The Group's entry into the food and grocery retail sector
started through the acquisition of Trinethra and Fabmall in 2007. They are
amongst the top two players in food and grocery in India already with
aggressive plans in all retail sectors. The retail business of the Aditya Birla
Group started with a simple mission, 'to change the way Indians shop', and to
achieve this goal, the team started with the understanding of the consumer -
her needs, her expectations and her areas of dissatisfaction. This study was
undertaken across twenty cities, covering large number of consumers, across age
groups and socio-economic class. What emerged from the study was a clear
direction of what the consumer expects from her retailer. Striving to fulfill
this growing need of the Indian consumer by offering a solution to the
inconvenience, inconsistency and the lack of variety that she experiences in
her everyday shopping ritual, the retail promise of the Aditya Birla Group is
aptly called more.
The retail offerings in the Indian market from the stable of Company. currently
comprises of the following two formats: supermarkets and hypermarkets. Other
new formats are in the planning and/or prototyping phase.
Supermarkets
more. for - The convenient neighbourhood supermarket. Conveniently located in
neighbourhoods cater to the monthly, daily and weekly shopping needs of
consumers. The product offerings include a wide range across fresh fruits and
vegetables, groceries, personal care, home care, general merchandise and a
basic range of apparels. Currently, there are over 600 more. for supermarkets
across the country.
Hypermarkets
more. MEGASTORE - very large and spacious, is a one-stop shopping destination
for the entire family. Besides a large range of products across fruits and
vegetables, groceries, FMCG products, the hypermarkets also have a strong
emphasis on general merchandise, apparels and CDIT.
Currently, the Group has two hypermarkets operating under the brand
more. MEGASTORE in Mysore and Vadodara.
Aditya Birla Group has been a
premier branded garments player in the Indian retail market. The entry into the
food and grocery retail sector started through acquiring Trinethra and Fabmall
in 2007. They are amongst the top 2 players in food and grocery in India
already with aggressive plans in all retail sectors. The retail business of the
Aditya Birla Group
started with a simple mission, 'to change the way Indians shop', and to achieve
this goal, the team started with the understanding of the consumer - her needs,
her expectations and her areas of dissatisfaction. This study was undertaken
across twenty cities, covering large number of consumers, across age groups and
socio-economic class. What emerged from the study was a clear direction of what
the consumer expects from her retailer. Striving to fulfil this growing need of
the Indian consumer by offering a solution to the inconvenience, inconsistency
and the lack of variety that she experiences in her everyday shopping ritual,
the retail promise of the Aditya Birla
Group is aptly called more.
The retail offerings in the Indian market from the stable of Company. currently comprises of the
following two formats: Supermarkets and Hypermarkets. Many other new formats
are in the planning and/or prototyping phase.
Supermarket
With a vision is to be among the leading retail players in India, Subject launched its first
supermarket, more. for you in May, 2007. Since its launch,
the more.
for you has an aggressive roll out, reaching a total count of
over 600 stores across India today more. for you is the
neighborhood supermarket which takes care of the everyday household needs and
more. Spread across a wide range of products of food and non food items,
ranging from basic necessities such as, fruits and vegetables, staples,
personal care, home care, household care products, general merchandise, and
dairy products, more. for you provide a one stop solution for
your grocery shopping needs. Also in store are essentials such as, innerwear,
kids essentials, and a pharmacy, bakery and a mobile store.
The more.
for you promises a world class shopping experience, with a modern
store layout, easy to shop with friendly staff at hand to provide assistance,
electronic billing facilities and a colorful ambience. At more. for you they
offer branded food and grocery products sourced from the leading brands from
all over India, along with private label brands from the own portfolio -
available in a broad selection for, always giving the best possible value for
the money.
Hypermarket
With the launch of more.MEGASTORE
- a hypermarket, in March 2008, Subject
expanded its footprint in large format retailing, which features both food and
non-food products.
Hypermarkets are what can be described as a complete destination shopping area,
where one can enjoy a day out with the entire family because of a simple fact
that hypermarket consists of variety of options under just one roof. The result
is a very large retail facility which carries an enormous range of products
like grocery, fruits and vegetables, general merchandise, electronics,
computers, mobile phones, apparel, footwear sports and FMCG products, with
national, international and house brands all under a single roof.
Currently two hypermarkets are operating under the brand name more.MEGASTORE in
Mysore and Vadodara.
Aditya Birla
Retail Re-Brands Fabmall
Subject re-brands its Fabmall grocery supermarkets to more., a name reflective of its commitment to offering consumers a more fulfilling retail experience. The re-branding follows the acquisition of the Trinethra Super Retail that includes the retail brands Fabmall, Trinethra and FabCity by subject in January 2007. As a result of the integration process, 68 Fabmall stores in Karnataka will be re-branded under the umbrella of more., the retail brand from the Aditya Birla Group.
With the underlying objective to enhance the shopping
experience for consumers, the new stores will continue to be built around the
proposition of quality, affordability and convenience with new in-store
merchandise and a whole new retail experience. The more. stores will offer a
wide range of product categories including fruits and vegetables, staples,
personal care, home care, household general merchandise and dairy products.
Speaking on the occasion, Mr. Sumant Sinha, CEO, Aditya Birla
Retail Limited said, "The retail market in India is reaching a point of
saturation. With the endeavour to improve the shopping experience for the
consumers, they promise more satisfaction for every consumer at the store. They
are happy to unveil the new retail brand and will continue to offer more value
to customers. This is an exciting period for the Indian grocery retail industry
and they are delighted to participate in the growth of the market."
The acquisition of Trinethra Super Retail has provided subject with a
strong retail footprint in South India extending to 275 stores and over more
than half a million square feet in Andhra Pradesh, Karnataka, Tamil Nadu and
Kerala, where it is the leading food and grocery retailer. Currently Aditya
Birla Retail has 60 stores in Bangalore, eight stores in Mysore and 10 stores
in Mangalore.
All Fabmall stores will be re-branded to more. by January end.
Mr. Sinha added
that subject’s vision is to be among the leading retail players in India. With
the launch of more. neighbourhood supermarkets, destination hypermarkets which
will address monthly and event-based shopping needs will soon follow. The Group
already has stores in other parts of India and envisions having a pan India
presence covering tier 1 and tier 2 markets in the not-so-distant future.
The more. stores have
been developed after in-depth research to understand the needs and expectations
of the Indian consumers. more. is the answer to the shopping needs of the
Indian housewife who wants a modern and convenient retail destination in her
neighborhood, with an attractive and a consistent range of products. more.
assures consumers the best quality products at the best market price.
more. also has its
own label across value, premium and select ranges. The products follow
stringent quality norms and are available in attractive packaging. To ensure
the freshest supply of fruits and vegetables to consumers, Subject is building
direct linkages with farmers. It is also investing in back-end infrastructure
to develop a robust supply chain connecting households more directly with
farmers.
The more. chain of supermarkets is spread over convenient locations and
with layouts that allow ease of navigation. The project display is
well-orgranised and facilitates ease of choice. The stores have been designed
by Fitch, the leading international retail design firm. Demographic
movements in India over the last two decades have made organised retail a
necessity. The rapid growth of this industry is confirmation that the idea of orgranised
retailing has taken root in India. The industry is today valued at around US$
320 billion. Within the organised retail sector, food and groceries account for
around 14 per cent of the total market with potential to garner an even bigger
share of the market.
About Aditya Birla
Retail Limited
Subject is the
retail arm of the Aditya Birla Group, a US$ 24 billion corporation with a
market capital of US$ 31.5 billion and in the league of Fortune 500 companies.
In May 2007, Subject, launched its first store, more. in Pune and currently has
100 stores across the country. With the acquisition of Trinethra Super Retail,
the company will increase its retail foothold to 300 plus stores with
re-branding of Trinethra and Fabmall stores in South India.
Press Release
Aditya Birla
Retail — To be among the leading players
- "Our mission is to change the way
people shop. We will give them more." says Mr. Kumar Mangalam
Birla
Mr. Kumar Mangalam
Birla, Chairman, Aditya Birla Group, today unveiled the brand name under which
the Group's retail business will operate
Addressing the
media in Mumbai, Mr. Birla said, "We believe that the Indian consumer
today is underserved. Even though we have many shopping outlets in India, many
of them do not offer the kind of shopping experiences that people in most other
parts of the world are used to, and even take for granted. As a result, spends
by Indian consumers on their day-to-day needs and special shopping occasions
are much less than they ought to be."
"Part of the
reason for the underdevelopment of the Indian shopping environment is the lack
of suitable infrastructure — whether it be the lack of economically viable real
estate, a developed supply chain, the availability of trained manpower or
backward linkages with suppliers. Our mission is to change the way people shop.
We will give the Indian consumers a fundamentally better shopping experience.
We will offer them than what they expect. Hence the brand.",
averred Mr. Birla.
"We intend to
be among the leading players in India," stated Mr. Birla. Elaborating on
Aditya Birla Retail's strategy, he said that they would provide multi-shopping
formats, a series of conveniently located neighbourhood supermarkets that would
stock the daily and weekly household shopping needs and destination
hypermarkets that cater to monthly and event-based shopping needs. The Group
envisions having a national presence with both these formats in the
not-so-distant future.
Mr. Birla
announced that the first supermarkets under the brand name would open shortly
in Pune and then quickly expand to other major cities in India.
Aditya Birla
Retail intends to differentiate itself by providing very competitive prices and
the right selection of products in a friendly and exciting environment. Over
time, they will be developing their own products.
To ensure the
freshest supply of fruits and vegetables to customers, the company is building
linkages directly with the farmers. They are also in the process of
architecting a supply chain to connect households more directly to farmers and
towards this invest appropriately in backend infrastructure.
In January this
year, the Group had acquired Trinethra Super Retail which has given them more
than half a million square feet of selling area and a strong presence in the
supermarket business in the four southern states of Andhra Pradesh, Karnataka,
Tamil Nadu and Kerala, where it is the No.1 retailer.
Plans to increase
its penetration in the south and initiate a pan-India roll-out are on the
anvil. Across all of Aditya Birla Retail's formats, the brand name will be
common
The company does
not intend having a joint venture partner given that the Aditya Birla Group has
the necessary competencies inhouse. The investment in retail will not be out of
any of the listed companies in the Aditya Birla Group, informed Mr. Birla.
Mr. Sumant Sinha,
the CEO of the retail business said, is an aspirational brand for an
aspirational country. We have a bright and committed, enthusiastic team that
represents the best experience from India and globally. Already on board are
Mr. Andrew Denby to head the supermarkets, and Mr. Russell Berman, for the
hypermarkets. We are all very excited about our business".
Aditya Birla Retail Limited expands retail
breadth with entry into the hypermarket category
~Launches more. megastore – largest
hypermarket in Baroda~
Aditya Birla
Retail Limited, the retail arm of Aditya Birla Group, strengthens its
presence in the retail industry through the launch of its first hypermarket “more. megastore” today. Sprawling over
1, 00,000 sq. ft., the largest hypermarket in Baroda was inaugurated by Mr. Kumar Managalam Birla, Chairman, Aditya
Birla Group. The launch follows the success of the Group’s existence in
supermarket format, thereby foraying into the hypermarket category.
more. megastore proposes to serve
all regular shopping requirements of an Indian household. Shoppers will have an
option to choose from a wide and contemporary range of innovative products
sourced from both local and international markets, which include groceries, fruits & vegetables, home
care products, personal care and cosmetics, apparels, footwear and accessories,
general merchandise, electronics,
books, jewellery and much more.
Keeping with the company’s underlined
objective, more. megastore will
give customers variety, quality, great
deals, convenience and a delightful shopping experience for the entire
family, thus assuring best
quality products at the best market price.
Mr. Kumar
Mangalam Birla, Chairman, Aditya Birla Group said, “”
The retail environment, the store
atmospherics and the store planning have all been developed after in-depth
research to understand the needs and expectations of the Indian consumers. The
key feature of the store is wide aisles, suitably designed for customer ease
serving over 60,000 unique products. Consumers can now look forward to better
interaction with products through a minimalistic shelf design, eliminating any
barrier between the customer and the product.
more. megastore will have 31 check-out counters aimed at
reducing customer wait time. Free
parking facilities have been provided for customers, where over 300 cars
can be accommodated in the parking lot. For the shopper’s convenience, more. megastore will have basic
facilities available such as ATM machine,
florist and a cafeteria, providing quality food and
beverages for ready consumption. The store has over 300 staff who are highly
skilled and trained customer sales representatives to ensure best customer
service.
more. megastore is located at Padmatex Mill Compound, Near Lalbaug
Crossing, Manjalpur, Vadodara and will remain open from 8:30 a.m. to 10:00 p.m. seven days a week.
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 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.96 |
|
UK Pound |
1 |
Rs.83.91 |
|
Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|