1. Summary Information
|
|
|
Country |
|
|
Company Name |
THE MOBILESTORE
LIMITED |
Principal Name 1 |
Mr. Rajiv Agarwal |
|
Status |
Moderate |
Principal Name 2 |
Mr. Somasundaram Subramaniam |
|
|
|
Registration # |
|
|
Street Address |
Essar House, 11,
K K Marg, Mahalaxmi, Mumbai- 400 034, Maharashtra |
||
|
Established Date |
22.03.2006 |
SIC Code |
-- |
|
Telephone# |
91-22-67447727/
66601100/ 40011100 |
Business Style 1 |
Chain of mobile stores that provides multi brand handsets |
|
Fax # |
91-22-67082177 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
4500
(approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.333,200,000 |
Product Name 3 |
-- |
|
Shareholders |
Essar Retail Holdings
Limited- 29278940 |
Banking |
Punjab National Bank |
|
Public Limited Corp. |
-- |
Business Period |
05 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
B
(30) |
|
Related
Company |
|||
|
Relation
Subsidiaries |
Country
India |
Company
Name |
Impact Retail Private Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
727,600,000 |
Current Liabilities |
1,668,200,000 |
|
Inventories |
1,063,300,000 |
Long-term Liabilities |
4,321,200,000
|
|
Fixed Assets |
1,160,800,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
5,989,400,000 |
|
Invest& other Assets |
797,300,000 |
Retained Earnings |
2,549,700,000 |
|
|
|
Net Worth |
(2,240,400,000) |
|
Total Assets |
3,749,000,000 |
Total Liab. & Equity |
3,749,000,000 |
|
Total Assets (Previous Year) |
3,383,000,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
11,445,100,000 |
Net Profit |
(1,708,800,000) |
|
Sales(Previous yr) |
11,005,900,000 |
Net Profit(Prev.yr) |
(1,865,300,000) |
MIRA
INFORM REPORT
|
Report Date : |
27.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
THE MOBILESTORE LIMITED (w.e.f 30.10.2007) |
|
|
|
|
Formerly Known As : |
ESSAR TELECOM RETAIL LIMITED |
|
|
|
|
Registered Office : |
Essar House, 11, K K Marg, Mahalaxmi, Mumbai- 400 034, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
22.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160647 |
|
|
|
|
Paid-Up Capital : |
Rs. 333.200 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51900MH2006PLC160647 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUME06487F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACFE1386K |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Chain of mobile stores that provides multi brand handsets,
accessories, etc. |
|
|
|
|
No. of Employees : |
4500 (approximately) [In Office] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Essar Group, having moderate track. Profitability
of the company is under severe pressure. The company has huge accumulated losses. However, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Balram Padhi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9819730558 |
LOCATIONS
|
Registered Office : |
Essar House, 11, K K Marg, Mahalaxmi, Mumbai- 400 034, Maharashtra,
India. |
|
Tel. No.: |
91-22-67447727/ 66601100/ 40011100/ 67335000 |
|
Mobile No.: |
91-9819730558 (Mr. Balram) |
|
Fax No.: |
91-22-67082177/ 66669435 / 67447530 / 66669426 |
|
E-Mail : |
|
|
Website : |
www.themobilestore.in |
|
Area : |
Leased |
|
|
|
|
Corporate Office : |
|
|
Tel. No.: |
91-22-67335000/60006363 |
|
Fax No.: |
91-22-67082177 |
|
E-mail : |
|
|
|
|
|
Warehouse : |
Located at: ·
Chembur West ·
Bhiwandi |
|
|
|
|
The |
Located At:
|
|
|
|
|
Retail Office |
Located At:
|
DIRECTORS
As On 30.09.2010
|
Name : |
Mr. Rajiv Agarwal |
|
Designation : |
Director |
|
Address : |
Panhar, No.5, |
|
Date of Birth : |
10.08.1963 |
|
Date of Appointment : |
22.03.2006 |
|
Date of Cessation : |
25.03.2010 |
|
DIN No.: |
00903635 |
|
|
|
|
Name : |
Mr. Somasundaram Subramaniam |
|
Designation : |
Director |
|
Address : |
Flat No. 62, Sangeeta Apartments, |
|
Date of Birth : |
28.11.1960 |
|
Date of Appointment : |
28.07.2009 |
|
Date of Cessation : |
15.12.2009 |
|
DIN No.: |
01494407 |
|
|
|
|
Name : |
Mr. Rajiv Sawhney |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth : |
18.08.1960 |
|
Date of Appointment : |
28.07.2009 |
|
Date of Cessation : |
25.03.2010 |
|
DIN No.: |
02533775 |
|
|
|
|
Name : |
Mr. Ashish Rajgarhia |
|
Designation : |
Director |
|
Address : |
Madan Smruti, 1137,
Veer Sawarkar Marg, Cadel Road, Shivaji Park, Mumbai - 400025, Maharashtra,
India |
|
Date of Birth : |
16.07.1979 |
|
Date of Appointment : |
15.12.2009 |
|
DIN No.: |
01822280 |
|
|
|
|
Name : |
Mr. Suresh Sundaram |
|
Designation : |
Director |
|
Address : |
Flat No. 12B,
Jaldarshan, Napean Sea Road, Mumbai – 400036 Maharashtra, India |
|
Date of Birth : |
03.10.1942 |
|
Date of Appointment : |
15.12.2009 |
|
DIN No.: |
00063535 |
|
|
|
|
Name : |
Mr. Kamlesh Niranjan Sarangi |
|
Designation : |
Director |
|
Address : |
Plot No. 503, Floor 5, Lakshchandi Height, Gokuldham, Goregaon (E),
Mumbai - 400063, Maharashtra, India |
|
Date of Birth : |
28.11.1971 |
|
Date of Appointment : |
03.03.2010 |
|
DIN No.: |
02852838 |
|
|
|
|
Name : |
Mr. Girish Sathe |
|
Designation : |
Director |
|
Address : |
2, Neelkanth
Deep, Bhaskar Colony, Naupada, Thane, Mumbai – 400602, Maharashtra, India |
|
Date of Birth : |
16.08.1970 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
00022998 |
|
|
|
|
Name : |
Mr. Govindaraghavan Venkataraman |
|
Designation : |
Director |
|
Address : |
Flat No.
171/172, 17th Floor, Kalpataru Residency, Sion Circle, Sion (E), Mumbai -
400022, Maharashtra, India |
|
Date of Birth : |
16.07.1945 |
|
Date of Appointment : |
17.05.2010 |
|
DIN No.: |
00008683 |
KEY EXECUTIVES
|
Name : |
Ms. Neelam Vyas |
|
Designation : |
Secretary |
|
Address : |
Ambika
Tower, A Wing, Flat No. 202, Opposite Aghadi Nagar, Jija Mata Chowk, Near
Pump House, Andheri, East, Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1983 |
|
Date of Appointment : |
01.12.2007 |
|
PAN NO: |
AETPV3741C |
|
|
|
|
Name : |
Mr. Balram Padhi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Equity Shareholders |
|
No. of Shares |
|
Essar Retail Holdings Limited, India |
|
29278940 |
|
Essar Retail Holdings Limited and S. Shankarnarayanan –
India |
|
10 |
|
Essar Retail Holdings Limited and Madan Mundhra – India |
|
10 |
|
Essar Retail Holdings Limited and Girish K. Sathe – India |
|
10 |
|
Essar Retail Holdings Limited and B. Shivkumar – India |
|
10 |
|
Essar Retail Holdings Limited and V. Ganeshan – India |
|
10 |
|
Essar Retail Holdings Limited and Vipul Shah – India |
|
10 |
|
IL and FS Trust Company Limited on Behalf of Tara India Fund III Domestic Trust - – India |
|
10 |
|
Total |
|
29279010 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
IL and FS Trust Company Limited on Behalf of Tara India
Fund III Domestic Trust - – India |
|
4038473 |
As On 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Chain of mobile stores that provides multi brand handsets,
accessories, etc. |
|
|
|
|
Products : |
-
Telecom Products and Services |
|
|
|
|
Brand Name : |
“The MobileStore” |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
·
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
4500 (approximately) [In Office] |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
They have
consortium facility between 5 Banks ·
Punjab
National Bank – Foreshore Road ·
State
Bank of Patiala – Nariman Point Branch ·
UCO
Bank – Nariman Point Branch ·
Jammu
Kashmir Bank – Worli Branch ·
Axis
Bank – Nariman Point Branch |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
TL: Rs. 1831.400 Millions CC: Rs. 686.900 Millions
Note: 1. Term Loans are secured by way of first pari passu charge on all the
company immovable properties, moveable properties and any other fixed assets;
and second pari passu charge on the entire stock, inventory, receivables and
other chargeable current assets, both present and future. 2. Cash Credit Facilities are secured by way of first pari passu
charge on entire stock, inventory, receivables and other chargeable current
assets; arid second pari passu charge on all the company’s immovable
properties, moveable properties and any other fixed assets, both present and
future. 3. Secured Loans are secured by way of corporate guarantee |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountant |
|
Address : |
Jalan Mill Compound, 95 Ganatrao Marg, Lower Parel, Mumbai-400013, |
|
Tel. No.: |
91-22-40356300 |
|
Fax No.: |
91-22-40356400 |
|
Pan No.: |
AALFS0506L |
|
|
|
|
Holding Company: |
·
Essar Retail Holdings Limited (ERHL) CIN: U51909MH2006PLC164605 |
|
|
|
|
Ultimate Holding Company: |
· Essar Investments Limited (EIL) CIN: L99999MH1976PLC034721 |
|
|
|
|
Subsidiaries : |
· Impact Retail Private Limited CIN: U74120HR2007PTC039021 |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Share |
Rs.10/- each |
Rs.300.000 Millions |
|
5000000 |
Non-Cumulative Compulsorily Convertible Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs. 350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
29279010 |
Equity Share |
Rs.10/- each |
Rs.292.800
Millions |
|
4038473 |
0.001% Non Cumulative Compulsorily Convertible Preference Shares |
Rs. 10/- each |
Rs. 40.400 Millions |
|
|
Total |
|
Rs. 333.200 Millions |
Note:
29279000 (p.y 25958000) shares are held by
Essar Retail Holdings Limited, the Holding Company, together with its nominee and
10 (p.y nil) shares are held by Tarar India Fund II Domestic Trust.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
333.200 |
259.600 |
234.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2549.700 |
2246.200 |
2015.500 |
|
|
4] (Accumulated Losses) |
(5123.300) |
(3414.500) |
(1549.200) |
|
|
NETWORTH |
(2240.400) |
(908.700) |
700.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3238.900 |
3171.700 |
1442.400 |
|
|
2] Unsecured Loans |
1082.300 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4321.200 |
3171.700 |
1442.400 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2080.800 |
2263.000 |
2142.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1160.800 |
1371.800 |
770.400 |
|
|
Capital work-in-progress |
200.100 |
435.000 |
310.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
281.400 |
0.100 |
150.100 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1063.300
|
914.700
|
844.700 |
|
|
Sundry Debtors |
116.700
|
95.400
|
83.900 |
|
|
Cash & Bank Balances |
391.500
|
104.000
|
421.700 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
219.400
|
134.200
|
135.300 |
|
Total
Current Assets |
1790.900
|
1248.300
|
1485.600 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1509.100
|
901.000
|
491.700 |
|
|
Other Current Liabilities |
134.200
|
219.000
|
311.000 |
|
|
Provisions |
24.900
|
17.300
|
10.500 |
|
Total
Current Liabilities |
1668.200
|
1120.000
|
802.700 |
|
|
Net Current Assets |
122.700
|
128.300
|
682.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
LONG TERM DEPOSITS |
315.800 |
327.800 |
228.700 |
|
|
|
|
|
|
|
|
TOTAL |
2080.800 |
2263.000 |
2142.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue |
11445.100 |
11005.900 |
5944.900 |
|
|
|
Other Income |
0.700 |
3.300 |
13.100 |
|
|
|
TOTAL (A) |
11445.800 |
11009.200 |
5958.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
10345.100 |
10148.700 |
5618.800 |
|
|
|
Employee cost |
701.000 |
784.100 |
365.600 |
|
|
|
Operating expenses |
781.500 |
780.300 |
433.700 |
|
|
|
Administrative and other expenses |
206.300 |
240.200 |
144.000 |
|
|
|
Marketing and selling expenses |
146.900 |
194.400 |
385.500 |
|
|
|
Impairment Provision |
26.000 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
12206.800 |
12147.700 |
6947.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(761.000) |
(1138.500) |
(989.600) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
413.200 |
332.700 |
134.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE/(LOSS) TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(1174.200) |
(1471.200) |
(1124.300) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
534.600 |
385.700 |
127.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
(1708.800) |
(1856.900) |
(1251.800) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
8.400 |
105.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-I) (J) |
(1708.800) |
(1865.300) |
(1357.100) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3414.500) |
(1549.200) |
(192.100) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(5123.300) |
(3414.500) |
(1549.200) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Merchandise |
113.900 |
42.900 |
16.000 |
|
|
|
Capex |
1.500 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
115.400 |
42.900 |
16.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
-
Basic |
(61.54) |
(78.59) |
(244.83) |
|
|
|
-
Diluted |
(60.83) |
(78.59) |
(244.83) |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (approximately) |
|
|
14000.000 |
The above information has been parted by Mr. Balram Padhi (Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(14.93)
|
(16.94)
|
(22.78) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.93)
|
(16.87)
|
(21.06) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(57.89)
|
(70.87)
|
(55.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.76
|
2.04
|
(1.79) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.67)
|
(4.72)
|
3.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.11
|
1.85 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND AND
NATURE OF OPERATIONS
Subject formerly known as Essar Telecom Retail Limited was originally
incorporated on 22.03.2006. The company is engaged in the business of retailing
and marketing of telecom and related products and services including mobile
handsets, accessories, connections, recharge talk time, entertainment, value
added services, repairs and after sales services across India through its chain
of retail stores having brand name “The MobileStore”.
The Company is subsidiary of Essar Investments Limited, the Ultimate
Holding Company.
FINANCIAL RESULTS
AND OPERATIONS:
Subject formerly known as Essar
Telecom Retail Limited was originally incorporated on 22.03.2006. The Company
is engaged in the business of all kind of goods including but not limited to
consumers electronics, domestic appliances1 entertainment products,
machineries, equipments, media and content in all Its forms,, components and
spares, accessories, communication services including pre-paid and postpaid
connections,, internet packages, all kinds of telecom related products
includinng but not limited to mobile handsets other telecom apparatus etc. and
all kinds of services including but not limited to repairs, after sales
services, food vending services across India through Its chain of retail stores
having brand name ‘The MobileStore”.
The Company has commenced its
business activity in December, 2006 and as at 31.03.2010 the Company operated
through 1206 retail stores (901 Stores and 305 Shop on Shops) located across 187
cites in India,
Contingent
Liabilities:
Rs.
In Millions
|
|
31.03.2010 |
31.03.2009 |
|
Claims against the company not a acknowledged as debts (VAT) |
119.600 |
1.100 |
Form 8:
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U51900MH2006PLC160647 |
|
Name of the
company |
The MobileStore
Limited |
|
Address of the
registered office or of the principal place of business in |
Essar House, 11 K K Marg, Mahalaxmi, Mumbai- 400 034, Maharashtra,
India. |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
Punjab National
Bank, Foreshore Road Branch,1st Floor, Raheja Chambers, Nariman
Point,Mumbai-400021, Maharashtra, India. |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Joint deed of
hypothecation |
|
Date of
instrument Creating the charge |
22.10.2008 |
|
Amount secured by
the charge |
Rs.706.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1. Axis Bank limited
- bplr-2% p.a. presently 13.75% payable monthly 2. Jammu and
Kashmir bank limited - plr-0.75% p.a. presently 13.75%, payable monthly 3. 4. State Bank of 5. UCO bank -
bplr-0.75% p.a. presently 13.75%
payable monthly Terms of
Repayment On Demand Margin 1. Axis Bank
Limited - Fund Based - RM, stock in process, FG 25% and Book Debts 30%; NFB-
cash margin 5% 2. Jammu And
Kashmir Bank Limited - Fund Based - Inventories 25%; NFB - Cash margin 25% 3. Punjab
National Bank - Fund Based -
Inventories 25%; NFB - Cash margin 25% 4. State Bank Of 5. UCO Bank -
Fund Based - Inventories - 25% Extent and
Operation of the charge First charge by
way of hypothecation of all the current assets of the Borrower as detailed in
Annexure II on pari passu basis in favour of Working Capital Lenders viz.
Axis Bank Limited, Jammu and Kashmir Bank Limited, Punjab National Bank,
State Bank of Patiala, Uco Bank and second pari passu charge on movable fixed
assets. |
|
Short particulars
of the property charged |
All current
assets of the Borrower. |
Trade References:
·
HCL
·
Tele Mart India Limited
Fixed
Assets:
·
Leasehold Improvements
·
Furniture and Fixture
·
Office Equipments
·
Computer
·
Software
WEBSITE DETAILS:
Profile:
Mr. Srikant Gokhale, CEO. The MobileStore Limited, heads
Subject format is a one stop mobile solution shop that provides, multi brand handsets, accessories, connections, repairs, VAS etc all under one roof.
Subject currently has more than 1050 outlets and the vision
is to have a network of 2500 stores by 2010 across 650 cities, thus covering
virtually every major town in every state across
Subject outlets are in three formats: Large - 1000-1500 square feet, Medium- 800-1000 square feet and Corner-150-200 square feet, with smaller formats located primarily in large malls.
Key thrust areas for the retail format are:
Subject caters to the Indian consumer's choice of the widest and most comprehensive range of mobile phones with special offers from all the key brands available across the globe. Subject offers complete telecom solutions right from handset purchase to the choice of service operator and miscellaneous services like monthly bill collections etc., the stores also offer connections (pre paid and post paid), accessories and VAS including the latest ring tones, wallpapers and gaming and prompt after sales service, available not only in the city of purchase but in all The MobileStore outlets across the country.
Subject has undertaken an extensive training program to equip all its employees with in-depth knowledge of the products and brands available at the store, thereby allowing them to provide the right kind of guidance to the customer.
Subject has categorized its mobile device offerings into consumer segments keeping in mind the profiles and needs of different consumers. The unique segments available in The MobileStore The MobileStore are: Business - PDA and Smart phones, Emails, data transfer etc., Lifestyle - Fashion phones, Look and elegance, Fun - Multimedia & music, camera, games, wacky ring tones and wallpapers, Value for Money - Special offers, discounts and budget phones.
All major handset brands like Nokia, Sony Ericsson, LG, Samsung, Motorola, Fly, Sagem, HP, iMate, Dopod, HTC and Blackberry are available at the store. The MobileStore has also tied up with all leading operators including Airtel, Vodafone, BPL, Idea, MTNL/BSNL and Reliance, Tata Indicom.
All major handset brands like Nokia, Sony Ericsson, LG, Samsung, Motorola, Fly, Sagem, HP, iMate, Dopod, HTC and Blackberry are available at the store. The MobileStore has also tied up with all leading operators including Airtel, Vodafone, BPL, Idea, MTNL/BSNL and Reliance, Tata Indicom.
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.46.05 |
|
|
1 |
Rs.75.19 |
|
Euro |
1 |
Rs.66.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
30 |
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.