%20PRIVATE%20LIMITED%20-%20139823%2025-Apr-2011_files/image002.jpg){kind=small}
1. Summary Information
|
|
|
Country |
|
|
Company Name |
WOOLWORTHS WHOLESALE INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Hagai Yahuda Arad |
|
Status |
Moderate |
Principal Name 2 |
Mr. Thomas William Pockett |
|
|
|
Registration # |
11-159768 |
|
Street Address |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri
(East), Mumbai – 400093, |
||
|
Established Date |
15.02.2006 |
SIC Code |
-- |
|
Telephone# |
91-22-67332000 |
Business Style 1 |
Trader |
|
Fax # |
91-22-67332055 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
machineries equipment accessories |
|
|
# of employees |
-- |
Product Name 2 |
domestic appliances |
|
Paid up capital |
Rs. 65,487,730/- |
Product Name 3 |
entertainment products |
|
Shareholders |
Foreign holdings 100.00%) |
Banking |
JP Morgan |
|
Public Limited Corp. |
No |
Business Period |
5 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
27.06.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
498,696,000 |
Current Liabilities |
656,295,000 |
|
Inventories |
658,604,000 |
Long-term Liabilities |
465,218,000
|
|
Fixed Assets |
84,487,000 |
Other Liabilities |
9,392,000 |
|
Deferred Assets |
0 |
Total Liabilities |
1,130,905,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
496,947,000 |
|
|
|
Net Worth |
110,882,000 |
|
Total Assets |
1,241,787,000 |
Total Liab. & Equity |
1,241,787,000 |
|
Total Assets (Previous Year) |
913,298,000 |
|
|
|
P/L Statement as of |
27.06.2010 |
(Unit: Indian Rs.) |
|
|
Sales (Total Income) |
10,493,355,000 |
Net Profit |
46,790,000 |
|
Sales(Previous yr) |
6,593,627,000 |
Net Profit(Prev.yr) |
(143,883,000) |
MIRA
INFORM REPORT
|
Report Date : |
25.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
WOOLWORTHS WHOLESALE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri
(East), Mumbai – 400093, Maharasahtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
27.06.2010 |
|
|
|
|
Date of
Incorporation : |
15.02.2006 |
|
|
|
|
Com. Reg. No.: |
11-159768 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2006PTC159768 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of consumer electronics, domestic appliances, entertainment products,
machineries equipment accessories, communication equipments. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 443000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri
(East), Mumbai – 400093, |
|
Tel. No.: |
91-22-67332000 |
|
Fax No.: |
91-22-67332055 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 14.12.2010
|
Name : |
Mr. Hagai Yahuda Arad |
|
Designation : |
Managing Director |
|
Address : |
501, Emporis, |
|
Date of Birth/Age : |
08.03.1954 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03175769 |
|
|
|
|
Name : |
Mr. Thomas William Pockett |
|
Designation : |
Director |
|
Address : |
47, |
|
Date of Birth/Age : |
04.01.1958 |
|
Date of Appointment : |
17.03.2006 |
|
DIN No.: |
01922408 |
|
|
|
|
Name : |
Mr. Debra Jane Singh |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
20.07.1958 |
|
Date of Appointment : |
15.12.2006 |
|
DIN No.: |
01637264 |
KEY EXECUTIVES
|
Name : |
Mr. Vikram Jain |
|
Designation : |
Company Secretary |
|
Address : |
3/ 9, Parijat CHS Limited, 1st Cross, Dindayal Road,
Vishnunagar, Dombivli (West), Thane – 421 202, |
|
Date of Birth/Age : |
30.09.1973 |
|
Date of Appointment : |
08.01.2008 |
|
PAN.: |
ACCPJ9384Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 14.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Woolworths (International) Private Limited, |
|
6548772 |
|
Woolworths Management Private Limited, |
|
1 |
|
Total |
|
6548773 |
Equity Share breakup (Percentage of total Equity)
As on 20.12.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of consumer electronics, domestic appliances, entertainment
products, machineries equipment accessories, communication equipments. |
GENERAL INFORMATION
|
Bankers : |
JP Morgan, Nariman Point Branch and Kalina, Santacruz Branch |
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|||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd floor, Near Gujarat Vidhyapith, off |
|
Tel. No.: |
91-079-27582542/ 27582543 |
|
Fax No.: |
91-079-27582551 |
|
PAN.: |
AABFD7919A |
CAPITAL STRUCTURE
As on 27.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6548773 |
Equity Shares |
Rs.10/- each |
Rs. 65.488 Millions |
Note:
6,548,773 (Previous Year; 6548773) equity shares
of Rs. 10/ each, fully paid [6548772 (Previous Year: 6548772) equity shares are
held by Woolworths |International Private Limited, the holding company and 1
equity share is held by its nominee, Woolworths Management Private Limited]
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
27.06.2010 |
28.06.2009 |
29.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
65.488 |
65.488 |
38.743 |
|
|
2] Share Application Money |
0.000 |
0.006 |
0.006 |
|
|
3] Reserves & Surplus |
496.947 |
496.947 |
293.691 |
|
|
4] (Accumulated Losses) |
(451.553) |
(498.343) |
(354.460) |
|
|
NETWORTH |
110.882 |
64.098 |
(22.020) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
450.000 |
390.000 |
0.000 |
|
|
TOTAL BORROWING |
450.000 |
390.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
FINANCE LEASE OBLIGATION |
15.218 |
25.492 |
160.000 |
|
|
|
|
|
|
|
|
TOTAL |
576.100 |
479.590 |
137.980 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
84.487 |
93.510 |
66.005 |
|
|
Capital Advance |
0.000 |
0.002 |
0.695 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
658.604
|
441.050 |
390.409 |
|
|
Sundry Debtors |
188.874
|
161.667 |
69.794 |
|
|
Cash & Bank Balances |
70.446
|
68.813 |
10.503 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
239.376
|
148.256 |
59.208 |
|
Total
Current Assets |
1157.300
|
819.786 |
529.914 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
649.608
|
410.777 |
431.159 |
|
|
Other Current Liabilities |
6.687
|
17.095 |
14.181 |
|
|
Provisions |
9.392
|
5.836 |
13.294 |
|
Total
Current Liabilities |
665.687
|
433.708 |
458.634 |
|
|
Net Current Assets |
491.613
|
386.078 |
71.280 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
576.100 |
479.590 |
137.980 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
27.06.2010 |
28.06.2009 |
29.06.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
6593.627 |
3767.180 |
|
|
|
Other Income |
|
124.820 |
33.997 |
|
|
|
TOTAL (A) |
10493.355 |
6718.447 |
3801.177 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
6520.837 |
3724.837 |
|
|
|
Employee Costs |
|
72.031 |
51.897 |
|
|
|
Operating and
Administrative Expenses |
|
203.797 |
208.188 |
|
|
|
TOTAL (B) |
10431.085 |
6796.665 |
3984.922 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Depreciation and Financial) |
(78.218) |
(183.745) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
41.909 |
8.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.270 |
(120.127) |
(192.565) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.480 |
24.671 |
11.471 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.790 |
(144.798) |
(204.036) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
NA |
(0.915) |
2.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
46.790 |
(143.883) |
(206.403) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(498.343) |
(354.460) |
(148.057) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(451.553) |
(498.343) |
(354.460) |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
130.273 |
43.876 |
5.339 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.14 |
(31.52) |
(53.49) |
|
%20PRIVATE%20LIMITED%20-%20139823%2025-Apr-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20139823%2025-Apr-2011_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
27.06.2010 |
28.06.2009 |
29.06.2008 |
|
PAT / Total Income |
(%) |
0.44 |
(2.14)
|
(5.43) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
-- |
(2.20)
|
(5.42) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.77 |
(15.85)
|
(34.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
(2.26)
|
9.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.20 |
13.25
|
(28.09) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74 |
1.89
|
1.15 |
LOCAL AGENCY FURTHER INFORMATION
Change of
Registered Office:
Registered Office of the company has been shifted from 5th Floor,
Peninsula Chambers,
Fixed Assets:
- Plant and Equipment
- Office Equipment
- Computer Hardware
- Furniture and Fixtures
- Plant – Motor Vehicles
- Software
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.