MIRA
INFORM REPORT
|
Report Date : |
17.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCEDIGITAL RETAIL LIMITED |
|
|
|
|
Registered Office : |
5th Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai –
400002, |
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|
|
Country : |
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|
|
Financials (as on) : |
31.03.2011 |
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|
|
|
Date of Incorporation : |
28.04.2007 |
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|
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|
Com. Reg. No.: |
11-170415 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.10.500 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U70102MH2007PLC170415 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR21871D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCR6320A |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business : |
Dealers of Samsung and Other Brands. |
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|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
Litigation : |
Clear |
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Comments : |
Subject is a part of Reliance Retail Ventures of Mukesh Ambani Group.
It is a company having moderate track. Profitability of the company appears to
be under pressure. There appears to be huge 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
Management Non Co-operative (Name not disclosed)
LOCATIONS
|
Registered Office/ Mall : |
5th Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai –
400002, Maharashtra, India |
|
Tel No.: |
91-22-44770000 |
|
Fax No.: |
91-22-29771882 |
|
E-Mail : |
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|
|
|
Corporate Office : |
9th Floor, Maker Chamber IV, Nariman Point, Mumbai – 400
023, |
|
Tel. No.: |
91-22-22786000 / 22785000 |
|
Fax No.: |
91-22-22786399 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Ajay Trilokinath Baijal |
|
Designation : |
Director |
|
Address : |
139, Flat G, Falcon Crest, 4th Main Defence Colny, Indira
Nagar, Bangalore-560038, |
|
Date of Birth/Age : |
21.11.1957 |
|
Date of Appointment : |
28.04.2007 |
|
Din No.: |
0004943 |
|
|
|
|
Name : |
Mr. Madhavan Ganesan |
|
Designation : |
Director |
|
Address : |
C Wing, 2004, 20th Floor, |
|
Date of Birth/Age : |
07.09.1964 |
|
Date of Appointment : |
06.12.2007 |
|
Din No.: |
01674529 |
|
|
|
|
Name : |
Bijaya Kumar Sahoo |
|
Designation : |
Director |
|
Address : |
47/A, 4th Floor, |
|
Date of Birth/Age : |
08.05.1966 |
|
Date of Appointment : |
31.12.2007 |
|
Din No.: |
01931278 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Retail Limited, |
|
1049994 |
|
Madhavan Ganesan Jointly with Reliance Retail Limited, |
|
1 |
|
A Ramaswamy* Jointly with Reliance Retail Limited, India |
|
1 |
|
Rajendra Madhav Kamath* Jointly with Reliance Retail Limited, India |
|
1 |
|
Subramaniam Venkatachalam* Jointly with Reliance Retail Limited, India
|
|
1 |
|
Sridhar Kothandaraman* Jointly with Reliance Retail Limited, India |
|
1 |
|
Sudhakar Saraswatula* Jointly with Reliance Retail Limited, India |
|
1 |
|
Total |
|
1050000 |
NOTE: * Beneficial Interest in the shares held
by Reliance Retail Limited
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers of Samsung and Other Brands. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel
West, Mumbai 400013, |
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Facilities : |
Notes : Loans from Holding Company. |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Mr. Chaturvedi and Shah Chartered Accountant |
|
Address: |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021,
Maharashtra, Inidia |
|
|
|
|
Name : |
S.V. Ghatalia and Associates Chartered Accountants |
|
Address: |
22, Camac Street, Block C, 3rd Floor Kolkata – 700016, West Bengal,
India |
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Ultimate Holding
Company: |
Reliance Industries Limited CIN No.: L17110MH1973PLC019786 |
|
|
|
|
Holding Company: |
Reliance Retail Limited CIN No.: U17120MH1998PLC114010 |
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|
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|
Subsidiary Company: |
RESQ Limited CIN No.: U52599MH2007PLC168275 |
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|
|
|
Fellow
Subsidiaries: |
·
Delight Proteins Limited ·
Reliance Agri Products Distribution Limited ·
Reliance Autozone Limited ·
Reliance Brands Limited ·
Reliance Corporate IT ParkLimited ·
Reliance Dairy Foods Limited ·
Reliance Digital Media Limited ·
Reliance Food Processing Solutions Limited ·
Reliance Fresh Limited ·
Reliance Gems and Jewels Limited ·
Reliance Home Store Limited ·
Reliance Hypermart Limited ·
Reliance Jamnagar Infrastructure Limited ·
Reliance Leisures Limited ·
Reliance Lifestyle Holdings Limited ·
Reliance Nutritional Food Processors Limited ·
Reliance People Serve Limited ·
Reliance Personal Electronics Limited ·
Reliance Supply Chain Solutions Limited ·
Reliance Trends Limited ·
Reliance Wellness Limited ·
Retail Concepts and Services (India) Limited ·
Strategic Manpower Solutions Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1050000 |
Equity Shares |
Rs.10/- each |
Rs.10.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1050000 |
Equity Shares |
Rs.10/- each |
Rs.10.500 Millions |
|
|
|
|
|
Note: All the
above 1050000 Equity Shares of Rs. 10 each are held by Reliance Retail Limited,
the holding company along with its nominees.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(501.813) |
(215.251) |
(154.863) |
|
|
NETWORTH |
(491.313) |
(214.751) |
(154.363) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.571 |
1.396 |
3.754 |
|
|
2] Unsecured Loans |
2949.057 |
2042.389 |
1468.551 |
|
|
TOTAL BORROWING |
2951.628 |
2043.785 |
1472.305 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2460.315 |
1829.034 |
1317.942 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1048.467 |
544.847 |
398.455 |
|
|
Capital work-in-progress |
93.184 |
500.016 |
452.515 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.598 |
0.598 |
0.598 |
|
|
DEFERREX TAX ASSETS |
232.426 |
104.563 |
67.440 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1468.652
|
826.349
|
460.291 |
|
|
Sundry Debtors |
162.926
|
102.650
|
44.326 |
|
|
Cash & Bank Balances |
22.934
|
13.066
|
20.269 |
|
|
Other Current Assets |
0.026
|
0.000
|
0.000 |
|
|
Loans & Advances |
450.769
|
315.709
|
264.991 |
|
Total
Current Assets |
2105.307
|
1257.774
|
789.877 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1008.419
|
568.078
|
367.033 |
|
|
Other Current Liabilities |
0.000
|
0.011
|
0.000 |
|
|
Provisions |
11.248
|
10.675
|
23.910 |
|
Total
Current Liabilities |
1019.667
|
578.764
|
390.943 |
|
|
Net Current Assets |
1085.640
|
679.010
|
398.934 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2460.315 |
1829.034 |
1317.942 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6814.575 |
4113.004 |
3160.770 |
|
|
|
Other Income |
0.651 |
1.383 |
0.942 |
|
|
|
TOTAL (A) |
6815.226 |
4114.387 |
3161.712 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
5955.872 |
3490.187 |
0.000 |
|
|
|
Manufacturing service costs |
0.000 |
0.000 |
0.000 |
|
|
|
Employee related expenses |
201.497 |
90.365 |
0.000 |
|
|
|
Administrative selling other expenses |
1014.609 |
584.818 |
0.000 |
|
|
|
Purchase |
0.000 |
0.000 |
2973.663 |
|
|
|
Operating and Other Expenses |
0.000 |
0.000 |
466.897 |
|
|
|
Variation in Stocks |
0.000 |
0.000 |
(132.753) |
|
|
|
TOTAL (B) |
7171.978 |
4165.370 |
3307.807 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(356.752) |
(50.983) |
(146.095) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.223 |
0.363 |
0.642 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(356.975) |
(51.346) |
(146.737) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.450 |
46.165 |
30.536 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
(414.425) |
(97.511) |
(177.273) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(127.863) |
(37.123) |
(50.617) |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-H) (I) |
(286.562) |
(60.388) |
(126.656) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(215.251) |
(154.863) |
(28.207) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(501.813) |
(215.251) |
(154.863) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
3.109 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1133.82) |
(1207.76) |
(2533.12) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(4.20) |
(1.47)
|
(4.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.08) |
(2.37)
|
(5.61) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.14) |
(5.41)
|
(14.92) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.84) |
0.45
|
1.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(8.08) |
(12.21)
|
(12.07) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06 |
2.17
|
2.02 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
No |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. In Millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
|
|
|
|
|
Creditors due
small micro enterprises |
0.000 |
0.000 |
|
|
Creditors due
Others |
1008.419 |
568.078 |
|
|
Total |
1008.419 |
568.078
|
367.033 |
NOTE :
The registered office address of the company has been shifted from
Reliance Corporate Park, Building No.4,Ground Floor, 'C' Wing, Thane- Belapur
Road, Ghansoli Navi Mumbai- 400701, Maharashtra, India to 5th Floor, Court
House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra, India
w.e.f. 15.12.2011
OPERATIONAL AND
FINANCIAL REVIEW
The Company operates
its stores in three formats namely – ‘Reliancedigital’ for the entire range of
consumer electronics, appliances, IT and telecom products and services ‘Digital
Express’, the smaller format of Reliancedigital for laptop, mobile phones,
personal electronics and all associated accessories and services and ‘iStore by
Reliancedigital’, Apple Premium Reseller, which retails Apple branded products
and associated accessories. During the year the Company has embarked on a
re-charged growth strategy with a new brand promise - ‘We bring technology to
life for you’ and provides customers with a well differentiated value and
experience. The Company has expanded its retail presence by launching more
stores and it presently operates 29 Reliancedigital stores, 1 Digital Express
store and 17 iStores across major cities and towns in India.
The Company seeks
to fulfill the dream of every customer, through its nationwide network of
conveniently located stores, its presence in the web and by providing a
delightful shopping experience of products and solutions and helping customers
bring home the latest and best technology from the widest selection at the
lowest assured price with complete peace of mind through lifelong support. The
Company has incurred a loss of Rs. 286.562 millions for the financial year
ended March 31, 2011. As new stores are being rolled out across the Country,
the Company is confident of posting better results in the future.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U70102MH2007PLC170415 |
|
Name of the
company |
RELIANCEDIGITAL
RETAIL LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Reliance Corporate
Park, Building No.4,Ground Floor, 'C' Wing,
Thane- Belapur Road, Ghansoli, Navi Mumbai – 400701, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of charge
holder |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai
–400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement for
Autoloan No. 3271538 / 528 / 573 / 555 / 570 / 567/ 561 dated 30.03.2009. |
|
Date of
instrument Creating the charge |
30/03/2009 |
|
Amount secured by
the charge |
Rs. 10.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at such rate/s
as may be determined by the bank from time to time. Terms of repayment As per Schedule B
to the Agreement for Autoloan Margin Nil Extent and operation of the charge First and exclusive charge on the present and
future vehicles (purchased under the loan facility) hypothecated and the
charge shall stand as security to the repayment and payment by the Company to
the Bank for all monies payable under the Agreement for Autoloan entered into
between the Company and the Bank. Other Nil |
|
Short particulars
of the property charged (Including location of the property) |
Vehicles as
detailed in Schedule B to the Agreement for Autoloan, including future
vehicles to be purchased under the loan facility. |
FIXED ASSETS:
·
Leasehold Improvements
·
Plant and Machinery
·
Electrical Installation
·
Equipments
·
Furniture and Fixtures
·
Vehicles
Press Releases
July 31st, 2012
Mission Happiness by Reliance Digital
Experience
shopping like never before
Reliance
Digital, the consumer electronics and durables arm of Reliance Retail and
India’s largest CDIT player has come up with a novel initiative for its
customers to get a feel of a “never-before” electronics shopping experience.
Come August and Reliance Digital has embarked on a campaign named “Mission
Happiness” where the entire shopping experience for electronic and digital
products has undergone a unique transformation.
Starting
4th August 2012, Reliance Digital is focusing on three major areas that help
its customers in getting maximum value
out of their electronics shopping. The first is ‘Technology and Entertainment
Experience Zones’ inside every Reliance Digital store where customers can see,
touch and feel technology from the best brands before actually deciding to buy.
These specially designed ‘Zones’ will help customers get a real-life feel of
all the latest electronics brands. Another key objective of ‘Mission Happiness’
is to provide expert sales advice to customers through sales advisors who have undergone
extensive training. These sales advisors are always ready to provide in-depth
information about electronics as well as technology solutions so that the
customer is able to make well-informed decisions.
And
finally, to make electronics shopping completely worry-free, there is an added
focus on Reliance Digital’s in-house service arm Reliance resQ that provides
‘Lifetime product and service support’ through a single window. Reliance resQ –
a unique service centre, offers lifetime support across most of the major
brands and covers both pre and post sales service. Key features about resQ are
365 days support, pre-installation guidance, demonstration, preventive care,
repair and diagnostics as well as extended warranty at affordable rates.
Mr
Brian Bade, Chief Executive Officer, Reliance Digital said “Through Mission Happiness, our aim is to ensure that
our customers derive maximum satisfaction while shopping at our stores. We want
our customers to get a real feel of the product and be completely convinced
before buying it. We believe in building long-term relationships with our
customers and hence it is our endeavour to provide them with lifetime support
through our customer-friendly service offerings”. Reliance Digital with 89
stores across 33 cities is now India’s leading CDIT player. During the past
year, it has tripled the number of stores from 27 to 75.
About
Reliance Digital
Reliance
Digital is the consumer durables and information technology concept from
Reliance Retail. Reliance Digital seeks to fulfil the dream of every Indian, be
it through its nationwide network of conveniently located stores or through its
presence on the web, by providing a delightful shopping experience of products
and solutions and helping them bring home the latest and best in technology
from the widest selection at the lowest assured price with complete peace of
mind through lifelong support.
With
over 200 international and national brands and over 5000 products at amazing
prices, Reliance Digital has the largest display of models to help you find the
right solution that fits your lifestyle. The range at Reliance Digital spans
Audio and Video products (3D, LED, LCD and Plasma TVs, DVD players, Home
Theatres), Digital Cameras, Durables like Air Conditioners, Refrigerators,
Washing Machines, Water Purifiers, Kitchen and Home Appliances, Gaming Consoles
and Games, Computers and Peripherals, Mobile and Fixed line instruments as well
as a wide range of accessories covering all major product categories. The
entire range of Apple products are also available. At Reliance Digital, you get
to touch, try and feel every product before you make your decision. The
specially designed Experience Zones (for high-end entertainment systems like
home theatres, televisions, smartphones, laptops and IT products) simulate
exact conditions to familiarize you with your product. The trained staff will
be only too happy to understand and advise on the optimum choice of products
meeting customers’ needs. What’s more, Reliance Digital is backed by Reliance
ResQ, the service arm that is available for support all 7 days and fully geared
to provide end to end solutions.
About
Reliance Retail Limited:
Reliance
Retail Limited (RRL), a subsidiary of Reliance Industries Limited opened its
first retail store in November 2006 and today operates more than 1,300 stores
spread across 18 states with over 6.5 million square feet of retail space,
serving over 2.5 million customers every week. RRL’s loyalty membership program
Reliance One has over 9 million members. RRL is a multi-format retailer that
operates:
1. Reliance Market - a concept for local traders and
small businesses
2. Reliance Fresh - a neighborhood store concept
3. Reliance Super- a super mart concept
4. Reliance Mart - a hyper market concept
5. Delight - a non-vegetarian offering
6. Reliance Digital - a consumer durables and
information technology concept
7. iStore by Reliance Digital- an Apple specialty
store concept
8. Reliance Trends - an apparel specialty concept
9. Reliance Footprint -a footwear concept
10. Reliance Jewels - a jewelry concept
11. Reliance TimeOut- a books, music and entertainment
concept
12. Reliance Living - a Furniture, Furnishing, Homeware
and Home kitchen concept
13.
Reliance AutoZone - an automotive specialty concept
Reliance
Retail is the largest grocery retailer in the country. Reliance Digital,
Reliance Trends and Reliance Footprints are the leaders in their respective
formats with the largest number of stores.
About
Reliance Industries Limited:
Reliance Industries
Limited (RIL) is India’s largest private sector company on all major financial
parameters with a turnover of INR 339,792 crore (US$ 66.8 billion), cash profit
of INR 31,994 crore (US$ 6.3 billion) and net profit of INR 20,040 crore (US$
3.9 billion) as of March 31, 2012. RIL is the first private sector company from
India to feature in the Fortune Global 500 list of 'World's Largest
Corporations' and is the first private sector company in India to feature in
the top 100. It ranks 99th amongst the world's Top 200 companies in terms of
revenue. RIL ranks 68th in the Financial ‘Times FT Global 500’ list of the
world's largest companies. RIL is ranked amongst the ’50 Most Innovative
Companies - 2010' in the World in a survey conducted by the US financial
publication - Business Week in collaboration with the Boston Consulting Group
(BCG). In 2010, BCG also ranked RIL as the second highest ‘Sustainable Value
Creators’ for creating the most shareholder value over the decade in the world.
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.54.73 |
|
|
1 |
Rs.88.61 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
2 |
|
--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 |
|
26 |
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.