MIRA INFORM REPORT
|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HYPERCITY RETAIL (INDIA) LIMITED (w.e.f. 30.03.2007) |
|
|
|
|
Formerly Known
As : |
HYPERCITY RETAIL (INDIA) PRIVATE LIMITED (w.e.f. 04.03.2005) RAINBOW RETAIL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. C-30, Block ‘G’, Opposite SIDBI, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.05.2004 |
|
|
|
|
Com. Reg. No.: |
11-146577 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3720.873 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52510MH2004PLC146577 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MIUMR16595F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR8461K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company mainly operates in Retail Operations i.e. Trading of Food
Products, Household Items and Apparels. |
|
|
|
|
No. of Employees
: |
2283 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 320000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Shopper stop Limited”. It is a well established company having a moderate track record. There
appears huge accumulated losses recorded by the company. The external borrowing
seems to be huge which act as a threat to the liquidity of the company. However, the company gets strong support from its holding companies.
The promoters seem to be well experience businessman. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities: BBB+ |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation, it carry moderate credit risk. |
|
Date |
December, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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
MANAGEMENT NON-COOPERATIVE
Contact No.: 91-22-40695555
LOCATIONS
|
Registered Office : |
Plot No. C-30, Block ‘G’, Opposite SIDBI, Bandra Kurla Complex, Bandra
(East), Mumbai – 400 051, |
|
Tel. No.: |
91-22-26564000/ 26002177 |
|
Fax No.: |
91-22-26564909 |
|
E-Mail : |
prashant.mehta@shppersstop.com
rohit.mistry@hypercityindia.com
|
|
Website : |
|
|
Area : |
1000 Sq ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office 1 : |
“Paradigm”, A Wing, 1st Floor, Mindspace, |
|
Tel. No.: |
91-22-40695555 |
|
Fax No.: |
91-22-40032120 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office 2 : |
Eureka Towers, C Wing, Mindspace, Malad (West), Mumbai, Maharashtra,
India |
|
|
|
|
Retail Stores : |
Located at: ·
Mumbai ·
Thane ·
Jaipur ·
·
·
·
·
|
DIRECTORS
(AS ON 30.07.2012)
|
Name : |
Mr. Chandru Lachmandas Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House 53, A Pali Hill, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
12.10.1940 |
|
Qualification : |
L.L.B |
|
Date of Appointment : |
27.05.2004 |
|
DIN No.: |
00027979 |
|
PAN No.: |
AAAPR5867Q |
|
|
|
|
Name : |
Mr. Nagesh Satyanarayan Basavanhalli |
|
Designation : |
Vice Chairman |
|
Address : |
Park Plaza, 81 and 82, 8th Floor, B-Wing, New Yari
Road, Versova, Andheri (West), Mumbai
– 400 061, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1959 |
|
Qualification : |
Masters Management Studies |
|
PAN No.: |
AAEPB0301K |
|
Date of Appointment : |
23.05.2005 |
|
DIN No.: |
00027595 |
|
|
|
|
Name : |
Mr. Ravi Chandru Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House 53, A Pali Hill, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
23.09.1971 |
|
Qualification : |
B.Com and M.B.A |
|
Date of Appointment : |
27.05.2004 |
|
DIN No.: |
00028044 |
|
PAN No.: |
AADPR5769A |
|
|
|
|
Name : |
Mr. Neel Chandru Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House 53, A Pali Hill, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
27.06.1974 |
|
Qualification : |
M.com and L.L.B |
|
Date of Appointment : |
27.05.2004 |
|
DIN No.: |
00029010 |
|
PAN No.: |
AAAPR5866R |
|
|
|
|
Name : |
Mr. Deepak Keshav Ghaisas |
|
Designation : |
Director |
|
Address : |
B/61-62, Swapnashilp, Mahant Road, Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
|
Date of Birth/Age : |
19.11.1957 |
|
Qualification : |
B.Com, A.C.A, A.I.C.W.A, F.C.S |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
00001811 |
|
PAN No.: |
AABPG9317P |
|
|
|
|
Name : |
Mr. Nitin Jagubhai Sanghavi |
|
Designation : |
Director |
|
Address : |
15, Sunningdale Avenue, Leeds 17, London LS177SD, United Kingdom |
|
Date of Birth/Age : |
28.12.1948 |
|
Qualification : |
B.SC (Hons), Msc, PHD, D.M.S.C, F.R.S.A |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
00863107 |
|
|
|
|
Name : |
Mr. Govind Shridhar Shrikhande |
|
Designation : |
Director |
|
Address : |
Flat No. 1801, 18th Floor, Brooke Villa, Mughal Lane,
Matunga (West), Mumbai – 400 016, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1960 |
|
Qualification : |
Graduate-Textiles and M.B.A |
|
Date of Appointment : |
25.07.2011 |
|
DIN No.: |
00029419 |
|
PAN No.: |
AMTPS0849J |
KEY EXECUTIVES
|
Name : |
Mr. Bharat Kanaklal Sanghavi |
|
Designation : |
Company Secretary and Manager |
|
Address : |
202, Bhoomi Garden, Mahavir Nagar, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
Date of Birth/Age : |
05.04.1971 |
|
Date of Appointment : |
01.09.2010 |
|
PAN No.: |
APRPS4260C |
|
|
|
|
Name : |
Mr. Mark Ashman |
|
Designation : |
Chief Executive Officer |
|
Date of Birth/ Age : |
48 years |
|
Qualification : |
Kelsey Park School Beckenham Kent; 9’0 Level, ‘3 A level |
|
Experience : |
28 years |
|
Date of Appointment : |
16.09.2010 |
|
PAN No.: |
AMGPA3190H |
|
|
|
|
Name : |
Mr. Ashutosh Chakradeo |
|
Designation : |
Head – Buying and Merchandising |
|
Date of Birth/ Age : |
39 years |
|
Qualification : |
B. Com, Master in International Trade |
|
Experience : |
18 years |
|
Date of Appointment : |
06.12.2004 |
|
|
|
|
Name : |
Yakeen Gazi |
|
Designation : |
Head Central Operations |
|
Date of Birth/ Age : |
41 Years |
|
Qualification : |
B.Com |
|
Experience : |
20 years |
|
Date of Appointment : |
17.11.2005 |
|
|
|
|
Name : |
Mr. Veneeth Purushotaman |
|
Designation : |
Business Head technology |
|
|
|
|
Name : |
Ms. Darshana |
|
Designation : |
Business Head – Marketing and Visual Merchandising |
|
|
|
|
Name : |
Mr. Simon Hooper |
|
Designation : |
Chief of Operations |
|
Date of Birth/ Age : |
41 Years |
|
Qualification : |
Diploma in Retail Management Sir Thomas Piction School, 9GCSE "O
Levels", 2GCSE "A" Levels |
|
Experience : |
21 years |
|
Date of Appointment : |
18.07.2011 |
|
|
|
|
Name : |
Mr. Dharmendar Jain |
|
Designation : |
Vice President – Business Development, Finance and Supply Chain |
|
Date of Birth/ Age : |
43 years |
|
Qualification : |
M.Com, ICWA, Diploma in Business Finance |
|
Experience : |
22 years |
|
Date of Appointment : |
01.07.2009 |
|
|
|
|
Name : |
Mr. Siddharthan M |
|
Designation : |
Head – Human Resource and Administration |
|
Date of Birth/ Age : |
40 years |
|
Qualification : |
Master of Business Administration |
|
Experience : |
19 years |
|
Date of Appointment : |
01.07.2009 |
|
|
|
|
Name : |
Mr. Rajiv Nair |
|
Designation : |
Head General Merchandising |
|
Date of Birth/ Age : |
39 years |
|
Qualification : |
B. Com |
|
Experience : |
21 years |
|
Date of Appointment : |
01.07.2009 |
|
|
|
|
Name : |
Mr. John Wilcox |
|
Designation : |
Chief of Operations |
|
Date of Birth/ Age : |
45 years |
|
Qualification : |
IGD Diploma in retail management (Distinction)2 A Levels & 9 0
Levels |
|
Experience : |
28 years |
|
Date of Appointment : |
24.10.2006 |
|
|
|
|
Name : |
Mrs. Esha Anand |
|
Designation : |
Business Head - Marketing |
|
Date of Birth/ Age : |
38 years |
|
Qualification : |
Master of Business Administration |
|
Experience : |
16 years |
|
Date of Appointment : |
01.07.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.07.2012)
|
Names of Shareholders |
|
No. of Equity
Shares |
|
|
|
|
|
Support Properties Private Limited jointly with Anbee Construction
Private Limited, |
|
1 |
|
Support Properties Private Limited jointly with Cape Trading Private
Limited, |
|
1 |
|
Support Properties Private Limited jointly with Capstan Trading
Private Limited, |
|
1 |
|
Support Properties Private Limited jointly with Casa Maria Properties
Private Limited, |
|
1 |
|
Support Properties Private Limited jointly with Palm Shelter Estate
Development Private Limited, |
|
1 |
|
Shopper’s Stop Limited, |
|
484500 |
|
Support Properties Private Limited, |
|
227995 |
|
Eternus Logistics Private Limited, |
|
228000 |
|
Palm Shelter Estate Development Private Limited , |
|
950 |
|
Anbee Construction Private Limited, |
|
950 |
|
Cape Trading Private Limited, |
|
950 |
|
Capstan Trading Private Limited, |
|
950 |
|
Casa Maria Properties Private Limited, |
|
950 |
|
Raghukool Estate Development Private Limited, |
|
950 |
|
|
|
950 |
|
Chandru Lachmandas Raheja |
|
950 |
|
Jyoti Chandru Raheja |
|
950 |
|
Neel Chandru Raheja |
|
950 |
|
|
|
|
|
Total |
|
950000 |
(AS ON 30.07.2012)
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Casa Maria Properties Private Limited, India |
|
279000 |
|
Raghukool Estate Development Private Limited, India |
|
279000 |
|
Capstan Trading Private Limited, India |
|
279000 |
|
Palm Shelter Estate Development Private Limited, India |
|
279000 |
|
Anbee Constructions Private Limited, India |
|
279000 |
|
Cape Trading Private Limited, India |
|
279000 |
|
Chandru L Raheja |
|
279000 |
|
Jyoti C Raheja |
|
279000 |
|
Ravi C Raheja |
|
279000 |
|
Neel C Raheja |
|
279000 |
|
Shopper’s Stop Limited, India |
|
199990000 |
|
K Raheja Corp Private Limited |
|
55437255 |
|
Support Properties Private Limited, India |
|
66960000 |
|
Eternus Logistics Private Limited, India |
|
66960000 |
|
|
|
|
|
Total |
|
392137255 |
(AS ON 27.12.2012)
|
Names of Allottees (Preference
Shares) |
|
No. of Shares
Allotted |
|
|
|
|
|
Shopper’s Stop Limited, India |
|
11730000 |
|
K Raheja Corp Private Limited, India |
|
11270000 |
|
|
|
|
|
Total |
|
23000000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.60 |
|
Directors or relatives of Directors |
|
0.40 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company mainly operates in Retail Operations i.e. Trading of Food
Products, Household Items and Apparels. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
2283 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Industrial Development Bank of India Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra,
India ·
Yes Bank Limited 9th Floor, Nehru Centre, Discover of India, Dr. Annie
Besant Road, Worli, Mumbai – 400018, Maharashtra, India ·
Indian Overseas Bank Bandra (West) Branch, Radhaswami Apartments, 36th TPS III,
Mumbai – 400050, Maharashtra, India ·
Oriental Bank of Commerce 181-A, Maker Tower (East) 18th Floor, Cuffe Parade, Mumbai
– 400005, Maharashtra, India ·
Kotak Mahindra Bank Nariman Point Branch, Mumbai, Maharashtra, India ·
IDBI Bank Limited 47, Opus Centre, Opposite Tunga Paradise, Central Road, MIDC,
Andheri (East), Mumbai – 400093, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax. No.: |
91-22-66679100 |
|
PAN.: |
AACFD4815A |
|
|
|
|
Holding Company : |
· Shoppers Stop Limited CIN
No.: L51900MH1997PLC108798 |
|
|
|
|
Fellow Subsidiaries : |
· Crossword Bookstores Limited CIN No.: U52396MH1999PLC122528 |
|
|
|
|
Companies
under common control/ Significant influence : |
·
Avacado Properties and Trading India Private
Limited CIN No.: U70100MH2002PTC137766 ·
Ivory Properties and Hotels Private Limited CIN No.: U70100MH1982PTC026374 · Inorbit Malls(India) Private Limited CIN No.: U45200MH1999PTC117748 ·
Trion Properties Private Limited CIN No.: U45200MH2005PTC157367 · K. Raheja Private Limited CIN No.: U45200MH1973PTC017018 |
|
|
|
|
Joint Venture : |
·
Gateway Multichannel Retail (India) Limited (up
13th November, 2011)_ CIN
No.: U52100MH2007PLC170243 |
CAPITAL STRUCTURE
(AFTER –
30.07.2012)
Authorised Capital : Rs.5000.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.4610.873 Millions
(AS ON 30.07.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
405000000 |
Preference Shares |
Rs.10/- each |
Rs.4050.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500
Millions |
|
392137255 |
Preference Shares |
Rs.10/- each |
Rs.3921.373
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.3930.873 Millions |
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
405000000 |
Preference Shares |
Rs.10/- each |
Rs.4050.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4100.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500
Millions |
|
371137255 |
Preference Shares |
Rs.10/- each |
Rs.3711.373
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.3720.873 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3720.873 |
2799.500 |
2109.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(3640.266) |
(2753.879) |
(2067.771) |
|
|
NETWORTH |
80.607 |
45.621 |
41.729 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1505.477 |
861.624 |
1335.691 |
|
|
2] Unsecured Loans |
860.000 |
1247.800 |
883.234 |
|
|
TOTAL BORROWING |
2365.477 |
2109.424 |
2218.925 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2446.084 |
2155.045 |
2260.654 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1675.202 |
1445.871 |
1372.960 |
|
|
Capital work-in-progress |
11.283 |
81.351 |
57.502 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
923.013
|
707.749
|
542.652
|
|
|
Sundry Debtors |
32.815
|
57.775
|
68.854
|
|
|
Cash & Bank Balances |
37.535
|
92.107
|
20.105
|
|
|
Other Current Assets |
54.879
|
64.479
|
0.000
|
|
|
Loans & Advances |
570.094
|
466.372
|
907.604
|
|
Total
Current Assets |
1618.336
|
1388.482
|
1539.215
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
609.938
|
461.639 |
623.578 |
|
|
Other Current Liabilities |
243.630
|
292.147
|
80.039
|
|
|
Provisions |
5.169
|
6.873
|
5.406
|
|
Total
Current Liabilities |
858.737
|
760.659
|
709.023
|
|
|
Net Current Assets |
759.599
|
627.823
|
830.192
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2446.084 |
2155.045 |
2260.654 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7220.507 |
5671.569 |
3110.980 |
|
|
|
Other Income |
30.697 |
36.365 |
242.001 |
|
|
|
TOTAL (A) |
7251.204 |
5707.934 |
3352.981 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
5933.784 |
4664.279 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(215.264) |
(165.097) |
3431.990 |
|
|
|
Employee benefit expense |
582.996 |
446.069 |
|
|
|
|
Other Expenses |
1354.612 |
1048.549 |
|
|
|
|
TOTAL (B) |
7656.128 |
5993.800 |
3431.990 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(404.924) |
(285.866) |
(79.009) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
320.693 |
273.638 |
395.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(725.617) |
(559.504) |
(474.109) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
160.770 |
126.602 |
95.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(886.387) |
(686.106) |
(550.949) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(886.387) |
(686.106) |
(550.949) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2753.879) |
(2067.773) |
(1516.821) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3640.266) |
(2753.879) |
(2067.770) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Foreign currency and foreign credit Card collection on sale of
merchandise |
112.927 |
97.329 |
70.835 |
|
|
TOTAL EARNINGS |
112.927 |
97.329 |
70.835 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Merchandise |
111.211 |
87.189 |
20.609 |
|
|
|
Capital Goods |
2.197 |
8.226 |
2.721 |
|
|
|
Software |
1.223 |
2.755 |
3.354 |
|
|
TOTAL IMPORTS |
114.631 |
98.170 |
26.684 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1201.94) |
(925.89) |
(732.04) |
|
%20LIMITED%20-%20217841%2016-Apr-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(12.22)
|
(12.02) |
(16.43) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(12.28)
|
(12.10) |
(17.71) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(26.91)
|
(24.21) |
(18.92) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(10.99)
|
(15.04) |
(13.20) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
29.35
|
46.24 |
53.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.83 |
2.17 |
LOCAL AGENCY FURTHER INFORMATION
CASE
DETAILS
Bench
– Bombay
|
Stamp No.: |
CRAST/11011/2013 |
Filing
Date: |
08.04.2013 |
|
|
|
|
|
|
Petitioner: |
Mahindra Logistics Limited |
Respondent: |
Hypercity Retail (India) Limited |
|
Petn. Adv.: |
NG and Partners |
|
|
|
District : |
Mumbai |
|
|
|
|
|
|
|
|
Bench: |
Single |
Stage: |
-- |
|
Status: |
Pre-Admission |
|
|
|
Next Date: |
15.04.2013 |
|
|
|
Coram: |
Registrar (Judicial) |
|
|
|
|
|
|
|
|
Act: |
Code of Civil Procedure 1908 |
|
|
------------------------------------------------------------------------------------------------------------------------------
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
609.938
|
461.639 |
623.578 |
|
|
|
|
|
|
Total |
609.938
|
461.639 |
623.578 |
------------------------------------------------------------------------------------------------------------------------------
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Loans and advances from others (Loan from Shoppers
Stop Limited, the holding company is a long term loan and is repayable as
mutually decided in terms of the arrangement) |
860.000 |
1247.800 |
|
|
|
|
|
Total |
860.000 |
1247.800 |
NOTE
The Registered Office of the company has been shifted
from Construction House, ‘A’ 24th Road, Khar (West), Mumbai -
400052, Maharashtra, India to the present address w.e.f. 08.07.2008.
COMPANY BACKGROUND
The company was incorporated
on May 27, 2004 as a Private Limited Company. The Company became a Public
Limited Company on March 30, 2007. The Company is engaged in the business of
retailing mainly food and grocery, health and beauty products, fruits and
vegetables, homeware and homecare products, furniture, appliances, multimedia,
sports, toys and readymade garments. The Company has recently made a foray into
the Real Estate business. As at 31 March 2012, the Company operated through 12
Hypercity stores located in different cities of India.
PERFORMANCE REVIEW
The company opened
3 new hypermarket stores at Bengaluru, Pune and Ahmedabad. The total retail
space has increased by 26% from 9.8 Lacs sq ft. to 12.3 lacs sq ft. The total
revenues (net of taxes) for the company was Rs.7070.300 Millions (previous year
Rs.5543.000 Millions), registering a growth of 28 % year on year basis.
The company has
operated 7 stores for full year and has got encouraging, same store sales
growth of 9% over the preceding year.
The company achieved
positive chain level Store EBIDTA for last 3 consecutive quarters (after having
Store EBIDTA loss in first quarter of FY 2011-12). Store EBIDTA for the FY11-12
is at Rs (3.700) Millions. Like to like store EBIDTA was Rs 114.100 Millions.
The company added
2.2 Lacs Discovery club members during the year and total member base increased
to 3.84 Lacs. Discovery club\ contributed 48% to overall sales mix.
FINANCE
The company
continues with various initiatives for bringing down the cost of borrowings which
includes reduction in working capital, application of various financial
instruments so as to meet short term and long term requirement and reduce
interest cost.
During the year,
they have entered into financial borrowing arrangement with Yes Bank Limited,
for working capital requirements. They have also got enhanced borrowing limits
from Kotak Mahindra Bank Limited. They
continue to enjoy credit facility from Indian Overseas Bank and IDBI
Bank Limited.
The company
prepaid term loan outstanding of Oriental Bank of Commerce Limited of
Rs.192.977 Million to bring down the cost of borrowings.
FORM 8
|
Corporate identity number of the company |
U52510MH2004PLC146577 |
|
Name of the company |
HYPERCITY RETAIL (INDIA) LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Plot No. C-30, Block ‘G’, Opposite SIDBI, Bandra Kurla Complex, Bandra
(East), Mumbai – 400 051, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10007721 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) |
|
Particular of charge holder |
IDBI Bank Limited 47, Opus Centre, Opposite Tunga Paradise, Central Road, MIDC, Andheri (East), Mumbai - 400093, Maharashtra, India CIN No.: L65190MH2004GOI148838 E-mail: cy.dhuri@idbi.co.in
|
|
Nature of instrument creating charge |
Letter Reference No.454/IDBI/CBG/Andheri/12-13 dated November 8, 2012.
|
|
Date of instrument Creating the charge |
08.11.2012 |
|
Amount secured by the charge |
Rs.300.000 Millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest Cash Credit: BPLR – 2% (Present effective - 11.25% p.a.) Working Capital Demand Loan: To be decided at the time of draw down. Terms of Repayment Cash Credit/ Working Capital Demand Loan - Repayable on demand / due
date Letter of Credit - Honoring of commitments on due date Bank Guarantee - Return of original Guarantee on or before the date of
expiry Margin Cash Credit / Working Capital Demand loan - 25% Inventory and 25% on
book debts Letter of Credit, Bank Guarantee and Treasury Limit – NIL Extent and Operation of the charge For CC / WCDL, Letters of Credit/ Buyers Credit and Bank Guarantee -
First pari passu charge on all current Assets and Second Pari Passu Charge on
entire movable fixed assets. |
|
Short particulars of the property or asset(s) charged |
CC / WCDL, Letters of Credit/ Buyers Credit and Bank Guarantee - first
pari passu charge on all current assets and second pari passu charge on
entire movable fixed assets. |
|
Date of
instrument modifying the charge |
28.03.2008 |
|
Particulars of the present modification |
The amount secured by charge has been reduced from Rs.600.000 Millions
to Rs.300.000 Millions detailed as below : Cash Credit (CC)/ Working Capital Demand Loan (WCDL) - Rs.200.000
Millions. Letters of Credit / Buyers Credit - Rs.100.000 Millions Bank Guarantee (Inner Limit of Letters of Credit) - Rs. 50.000
Millions The term loan of Rs.300.000 Millions has been repaid in full. |
FIXED ASSETS:
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Other equipments
·
Computer
·
Leasehold Improvements
PRESS RELEASE
HYPERCITY RETAIL PARTNERS WITH ORACLE FOR INVENTORY MANAGEMENT TECH
APRIL 19, 2012
Hypercity Retail India Limited, the hypermarket arm of Shoppers Stop
Limited, has partnered with Oracle Retail Solutions to ramp up its in-store
technology system for better management of inventory, store data, orders,
promotions, payments, delivery and customer services.
This partnership will help the large-format retailer improve centralised
inventory, financial processes and information governance across store
locations, and reduce their integration costs. Oracle's point-of-service, central
and back office applications will enable Hypercity to create a single platform
for its hypermarket operations.
"This will help us offer a more personalised experience to our
customers, and help us match their demands with our merchandise, daily promotions
and other services," said Mark Ashman, chief executive officer of
Hypercity. "It will also help us in optimising our store operations and
improving store-level functionality."
In a highly competitive retail environment, retaining customers is critical
and most retail companies have been looking to make better use of advanced
technology, in order to improve backend operations as well as point-of-sale
services.
"Hypercity's approach to leveraging technology to build an
experience platform that delivers a more holistic view of its stores, inventory
and customer information will be the key to driving business performance and
optimising the customer experience," said Mike Webster, senior vice
president and general manager, Oracle Retail.
HYPERCITY PLANS 10
STORES, LAUNCHES COMPACT FORMAT
APRIL 13, 2013
K Raheja group retail company HyperCITY Retail (India)
Limited on Friday announced plans to open 10 more stores to cash in on the
booming organised retail sector in India.
With the expansion, the seven-year-old company will have around 24 stores
across the country in the next 3-4 years, with focus on Tier-I cities.
HyperCITY has been successful in opening 13 stores across Bangalore, Amritsar,
Bhopal, Pune, Ludhiana, Mumbai and Hyderabad.
Talking to Deccan Herald, HyperCITY Chief Executive Officer Mark Ashman said,
“We have signed agreements to establish the said stores in Tier-I markets, and
a majority of these stores will be roughly 50,000 sq ft,” adding that the
stores will encompass various formats of standalone stores, stores inside malls
and so on.
“Most of our stores, which are in sizes between 50,000 and 1.2 lakh sq ft, are
on rented spaces, based on a blend of fixed minimum guarantee and
revenue-sharing model,” Ashman said. The company has already begun on-site work
in stores in Mumbai, Hyderabad and Vadodara.
“The strategy is to have more stores in fewer cities, which will improve
efficiency, bring forth market dominance and cut logistical and marketing
costs,” he said, referring to the reason behind HyperCITY being focussed on
bigger cities.
Ashman informed that the period for a store in a Tier-I city to break even is
around 12 months, which makes the proposition to open stores here very
conducive. The cost to set up HyperCITY stores ranges between Rs.50.000
Millions and Rs.80.000 Millions, excluding land cost.
Compact stores
HyperCITY has come out with a new store concept, which includes setting up of
smaller hyper markets, occupying an area of 30,000 sq ft, across the country. Unlike
its larger siblings, which stack everything from food products, clothing, toys,
accessories, sports equipment, furniture and electronics among others, the
compact store will stack merchandise on a smaller scale sans furniture and
electronics.
The compact stores, the company believes, will help it secure better profits.
“The idea is to either downsize existing larger stores or set up small
individual stores. The new concept will enable us to reduce costs on staffing,
rental, electricity and maintenance, which will considerably help our overall
business grow,” Ashman added. HyperCITY inaugurated its first compact store in
Bangalore on Thursday, following which it is exploring other markets as well.
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 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.54.44 |
|
|
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
39 |
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.