MIRA
INFORM REPORT
|
Report Date : |
03.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
BIG SHOE BAZAAR INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Lower Ground Floor, 8, Balaji Estate, Guru Ravidas Karg, Kalkaji, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
11.05.2010 |
|
|
|
|
Com. Reg. No.: |
55-202511 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.179 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109DL2010PTC202511 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELB11626G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECB0925E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject Engaged in Online Retailing and Distribution of Footwear. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 280000 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company established itself gradually. The company has
achieved sizeable turnover in its very first year of operation. 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
cautions. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
Lower Ground Floor, 8, Balaji Estate, Guru Ravidas Karg, Kalkaji, |
|
Tel. No.: |
91-11-47283000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Nitin Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No.B-21, Nikash Skies Someshwar Wadi, Off |
|
Date of Birth/Age : |
19.08.1976 |
|
Date of Appointment : |
11.05.2010 |
|
DIN No.: |
00022157 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72200KA2000PTC052615 |
Indecomm Global
Services ( |
Director |
23-06-03 |
23-06-03 |
18-09-07 |
Active |
NO |
|
2 |
U45400DL2007PTC166375 |
Big Shoe Bazaar
.Com Private Limited |
Director |
24-08-09 |
01-06-09 |
01-06-10 |
Active |
NO |
|
3 |
U52100DL2009PTC191959 |
New Age Retail
Private Limited |
Director |
07-07-09 |
07-07-09 |
- |
Active |
NO |
|
4 |
U72900DL2009PTC195675 |
New Age
Technology Solutions Private Limited |
Director |
03-11-09 |
03-11-09 |
01-06-10 |
Active |
NO |
|
5 |
U52100DL2009PTC196855 |
Sirf Apparel
Private Limited |
Director |
14-12-09 |
14-12-09 |
- |
Active |
NO |
|
6 |
U51109DL2010PTC202511 |
Big Shoe Bazaar
India Private Limited |
Director |
11-05-10 |
11-05-10 |
- |
Active |
NO |
|
Name : |
Mr. Manmohan Agarwal |
|
Designation : |
Director |
|
Address : |
House No.2002, Sector – B, Pocket 2, Vasant kunj, |
|
Date of Birth/Age : |
01.09.1970 |
|
Date of Appointment : |
11.05.2010 |
|
DIN No.: |
01140141 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U11100BR1996PTC007091 |
Eastcoast Mining
Private Limited |
Director |
28-02-96 |
28-02-96 |
26-12-06 |
Active |
NO |
|
2 |
U65929DL2006PTC155058 |
First Asian
Credit Information And Rating Private Limited |
Director |
30-10-06 |
30-10-06 |
- |
Active |
NO |
|
3 |
U45500DL2007PLC171213 |
Vrl
Infrastructure Limited |
Director |
07-12-07 |
07-12-07 |
24-03-10 |
Active |
NO |
|
4 |
U74900DL2008PLC173420 |
Vrl Movers
Limited |
Director |
31-01-08 |
31-01-08 |
15-04-09 |
Active |
NO |
|
5 |
U74120DL2008PLC173834 |
Vrl Foods
Limited |
Director |
08-02-08 |
08-02-08 |
15-04-09 |
Active |
NO |
|
6 |
U45400DL2007PTC166375 |
Big Shoe Bazaar
.Com Private Limited |
Director |
24-08-09 |
01-06-09 |
01-06-10 |
Active |
NO |
|
7 |
U52100DL2009PTC191959 |
New Age Retail
Private Limited |
Director |
07-07-09 |
07-07-09 |
- |
Active |
NO |
|
8 |
U72900DL2009PTC195675 |
New Age
Technology Solutions Private Limited |
Director |
03-11-09 |
03-11-09 |
01-06-10 |
Active |
NO |
|
9 |
U52100DL2009PTC196855 |
Sirf Apparel
Private Limited |
Director |
14-12-09 |
14-12-09 |
- |
Active |
NO |
|
10 |
U51109DL2010PTC202511 |
Big Shoe Bazaar
India Private Limited |
Director |
11-05-10 |
11-05-10 |
- |
Active |
NO |
|
Name : |
Mr. Suvir Suren Sujan |
|
Designation : |
Nominee Director |
|
Address : |
Flat No.6AB, and Romeda Chs., 89, |
|
Date of Birth/Age : |
20.09.1971 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
01173669 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U65999MH2007PTC167234 |
Nexus India
Capital Advisors Private Limited |
Managing
director |
12-08-08 |
24-01-07 |
- |
Active |
NO |
|
2 |
U74899DL1995PTC065551 |
C.E. Info
Systems Private Limited |
Director |
31-08-07 |
26-07-07 |
- |
Active |
NO |
|
3 |
U72200MH2006PTC160271 |
Whats On India
Media Private Limited |
Nominee director |
30-09-08 |
30-09-08 |
- |
Active |
NO |
|
4 |
U72200KA2009PTC051448 |
Magic Rooms
Solutions ( |
Nominee director |
18-01-10 |
18-01-10 |
28-03-11 |
Active |
NO |
|
5 |
U51109DL2010PTC202511 |
Big Shoe Bazaar
India Private Limited |
Nominee director |
01-07-10 |
01-07-10 |
- |
Active |
NO |
|
6 |
U72300DL2007PTC168097 |
Jasper Infotech
Private Limted |
Nominee director |
03-01-11 |
03-01-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Priyanka Gulati |
|
Designation : |
Secretary |
|
Address : |
F-2/10, Malviya Nagar, |
|
Date of Birth/Age : |
28.10.1986 |
|
Date of Appointment : |
02.08.2011 |
|
PAN No.: |
APMPG1946G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
Preference
Shares |
Equity Shares |
|
|
No. of Shares |
|
|
Anish Ahmed |
-- |
2585 |
|
Manmohan Agarwal |
-- |
2500 |
|
Rajul Jain |
-- |
2500 |
|
Nitin Agarwal |
-- |
2754 |
|
Nexus |
-- |
05 |
|
Nexus |
7212 |
-- |
|
Bhaskar Prabhakara |
-- |
272 |
|
Infovisory |
-- |
661 |
|
Catamaran |
1047 |
-- |
|
Catamaran Fund CB, |
2094 |
-- |
As on 01.07.2010
|
Names of Shareholders |
Preference
Shares (Series A) |
Equity Shares |
|
|
No. of Shares |
|
|
Nexus |
5519 |
5 |
|
Total |
5519 |
5 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
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 |
34.67 |
|
Bodies corporate |
13.80 |
|
Directors or relatives of Directors |
45.50 |
|
Other top fifty shareholders |
6.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject Engaged in Online Retailing and Distribution of Footwear. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R R and Company Chartered Accountants |
|
Address : |
|
|
PAN.: |
AAKFB1884H |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38475 |
Equity Shares |
Rs.10/- each |
Rs.0.385 Million |
|
11525 |
Preference Shares |
Rs.10/- each |
Rs.0.115 Million |
|
|
Total |
|
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12365 |
Equity Shares |
Rs.10/- each |
0.124
Million |
|
10353 |
Preference Shares |
Rs.10/- each |
0.103
Million |
|
|
Total |
|
Rs.0.227 Million |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38475 |
Equity Shares |
Rs.10/- each |
Rs.0.385 Million |
|
5525 |
Convertible Preference Shares (Series A) |
Rs.10/- each |
Rs.0.055 Million |
|
6000 |
Convertible Preference Shares (Series B) |
Rs.10/- each |
Rs.0.060 Million |
|
|
Total |
|
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12365 |
Equity Shares |
Rs.10/- each |
0.124
Million |
|
|
0.0001 % Compulsory Convertible Preferences
Shares (Series A) |
Rs.10/- each |
0.055
Million |
|
|
Total |
|
0.179 Million |
*Compulsorily
convertible at the option of Investor. Any Series A Preference Shares not already
optionally converted into equity shares will be compulsorily converted, upon
earlier of 19 years from the closing date, (1 July 2010), or on the happening
of a public offer, whichever is earlier. The ratio of conversion for a
preference share into equity share is 1:1.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.179 |
|
|
2] Share Application Money |
|
|
45.000 |
|
|
3] Reserves & Surplus |
|
|
100.072 |
|
|
4] (Accumulated Losses) |
|
|
(75.316) |
|
|
NETWORTH |
|
|
69.935 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.935 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7.004 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
60.807 |
|
|
Sundry Debtors |
|
|
10.353 |
|
|
Cash & Bank Balances |
|
|
43.465 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
9.165 |
|
Total
Current Assets |
|
|
123.790 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
51.835 |
|
|
Other Current Liabilities |
|
|
6.753 |
|
|
Provisions |
|
|
2.271 |
|
Total
Current Liabilities |
|
|
60.859 |
|
|
Net Current Assets |
|
|
62.931 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.935 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
122.134 |
|
|
|
Other Income |
|
|
4.496 |
|
|
|
TOTAL |
|
|
126.630 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
201.946 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(75.316) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(75.316) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(6238.00) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
(59.48) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(61.67) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(57.59) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(1.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.03 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered address of the company has been sifted from “M-7, 2nd
Floor, Greater Kailash – II New Delhi – 110048,
BACKGROUND
Big Shoe Bazaar India Private Limited („the Company‟) was incorporated on 11 May 2010 as a private company in
OERATION AND FUTURE PROSPECTS
During the period,
the Company has achieved a sales turnover of Rs.122.100 Millions with a Net
Loss of Rs.75.000 Millions due to investments done in marketing activities for
creation of Brand awareness and promoting of Brand value. Company has grown
substantially subsequently and will grow even further with the distribution
channels expanding across the country. The Company will invest further in
marketing, logistics and inventory in order to cater to the growing demand and
increasing the value provided to the customers.
PAID UP SHARE CAPITAL
During the year, Company has raised the 12,365 Equity share
and 5519 Compulsory Convertible preference shares (Series A)
Equity Share Capital
During the period under review following equity share
capital has been issued
·
1699
equity shares of Rs.10 each at a premium of Rs.54 (Rupees Fifty Four only) per
equity shares aggregating to an issue price of Rs.64/- to private individual.
·
661
equity shares of Rs.10 each at a premium of Rs.54 (Rupees Fifty Four) per equity
shares aggregating to an issue price of Rs.64/-to Infovisory LLC
·
5
equity shares of Rs.10 each at a premium of Rs.18,093 (Eighteen Thousand Ninty
Three only) per equity share aggregating to an issue price of Rs.18,103 /- to
Nexus India Direct Investment II-Series A
Preference Share Capital
During the period under review following issue preference
share capital issue has been completed
·
5519
Compulsory convertible Preference Shares* of Rs.10 each at a premium of
Rs.18,093 (Eighteen Thousand Ninty Three only) per equity share aggregating to
an issue price of Rs.18,103 /- to Nexus India Direct Investment II-Series A
* 0.00001% Compulsorily Convertible Preference Shares (Series A).
Compulsorily convertible at the option of Investor. Any Series A Preference
Shares not already optionally converted into equity shares will be compulsorily
converted, upon earlier of 19 years from the closing date, (1 July 2010), or on
the happening of a public offer, whichever is earlier. The ratio of conversion
for a preference share into equity share is 1:1.
CONTINGENT
LIABILITIES
Bank guarantees include performance guarantees of Rs.4.000 Millions.
These guarantees have been given in the normal course of the Company’s operations. On the basis of the Company fulfilling its ordinary
commercial obligations and are not expected to result in any loss to the
Company.
FIXED ASSETS:
- Computers
- Furniture and Fixtures
- Office Equipments
- 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 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.53.30 |
|
|
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.68.91 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--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 |
|
27 |
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.