MIRA INFORM REPORT
|
Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE RETAIL LIMITED |
|
|
|
|
Formerly Known
As : |
RELIANCE CHEMICALS AND FIBERS PRIVATE LIMITED |
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|
|
|
Registered Office
: |
9th
Floor, Maker Chambers, IV, 222 Nariman Point, Mumbai – 400021, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.03.1998 |
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Com. Reg. No.: |
11-114010 |
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Capital
Investment / Paid-up Capital : |
Rs.57306.000 Millions |
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|
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CIN No.: [Company
Identification No.] |
U17120MH1998PLC114010 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR19886G |
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PAN No.: [Permanent
Account No.] |
AAACR7402E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturers and
Marketers of Fabrics, Polyester Filament Yarn, Polyester Staple Fibres, PTA, LAB,
Ethylene Glycol, PVC, PE, PP, Crude Oil, Gas, Norman Paraffin, Fibre Fill,
Ethylene, Propylene, Benzene, Xylene and Toluene. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 230000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Reliance Industries Limited”. It is a well established company having a satisfactory track record.
The latest financials are not available. As per previous year’s, there appears some accumulated losses. However, capital base of the company is strong subject gets strong
managerial and financial support from its holding company. In view of well experience promoters the company can be considered
normal for business dealings at usual trade terms conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 (91-22-22785000)
LOCATIONS
|
Registered Office : |
9th Floor,
Maker Chambers, IV, 222 Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-30325000/30327000/22785000/44770000 |
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Fax No.: |
91-22-30322268/44771882 |
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E-Mail : |
d-jain@kellog.northwestern.edu manoj.modi@ril.com |
|
Website : |
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Administrative Office : |
Chitrakoot, 2nd
Floor, Shree Ram Mills Compound, Ganpatrao Kadam Marg, Worli, Mumbai – 400
013, |
|
Tel. No.: |
91-22-24962780/
24981163/ 24981167/ 24981667-90 |
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Corporate Office : |
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Tel. No.: |
91-22-30327000 |
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Factory 1 : |
Patalganga Complex, B-4 Industrial Area, Patalganga, Off |
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Factory 2 : |
Naroda Complex, 103/106 Naroda Industrial Estate, Naroda,
Ahmedabad – 382 330, |
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Factory 3 : |
Hazira Complex, Village Mora, Bhatha P. O. Surat-Hazira Road,
Surat – 394 510, Gujarat State, India. |
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Factory 4: |
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Refinery Complex : |
Taluka Lalpur,
District |
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Branches : |
Chitrakoot, Shree
Ram Mills Compound, Ganpatrao Kadam Marg, Worli, Mumbai – 400018, |
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Retail Office : |
Reliance Corporate Park, Building NO. 4, Ground Floor, C Wing, Thane –
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|
Tel. No.: |
91-22-44770000 |
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Fax No.: |
91-22-29771882 |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Mukesh
Dhirubhai Ambani |
|
Designation : |
Director |
|
Address : |
“Sea Wind”, 39, Cuffe Parade, Colaba, Mumbai – 400005, |
|
Date of Birth/Age : |
19.04.1957 |
|
Qualification : |
Chemical Engineer from |
|
Date of Appointment : |
04.03.2006 |
|
DIN No.: |
00001695 |
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|
|
|
Name : |
Mr. Manoj Harjivandas
Modi |
|
Designation : |
Director |
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Address : |
10A/B Building,
26 Sudhakar Chsl Narayan, Dabhbolkar Raod, Mumbai – 400006, |
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Date of Birth/Age : |
03.07.1957 |
|
Date of Appointment : |
04.03.2006 |
|
DIN No.: |
00056207 |
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|
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Name : |
Mr. Dipak Chand
Jain |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
09.06.1957 |
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Date of Appointment : |
04.03.2006 |
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DIN No.: |
00228513 |
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|
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Name : |
Mr. Gwyn
Sundhagul |
|
Designation : |
Director |
|
Address : |
199/6, Moo 3 ,
Soi Ruammitrpattana, Taraeng, Bang Khen, |
|
Date of Birth/Age : |
09.08.1962 |
|
Date of Appointment : |
22.01.2010 |
|
DIN No.: |
0287324 |
KEY EXECUTIVES
|
Name : |
Mr. Sridhar Kothandaraman |
|
Designation : |
Secretary |
|
Address : |
Flat No.2101, 21st Floor, Cupola B Wing, Plot No. 1 and 2,
Sector – 18, Sanpada, Navi Mumbai, Thane - 400705, Maharashtra, India. |
|
Date of Birth/Age : |
29.12.1972 |
|
Date of Appointment : |
16.03.2006 |
|
PAN No.: |
AKPMK3675M |
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|
|
|
Name : |
Mr. Raja Kozhumum Ramachandran |
|
Designation : |
Manager |
|
Address : |
1703 / 1704, Building No. 1, Raheja Classique, New |
|
Date of Birth/Age : |
19.12.1956 |
|
Date of Appointment : |
07.03.2006 |
|
PAN No.: |
ADLPR6435Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
Bodies corporate |
99.79 |
|
Other |
0.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Marketers of Fabrics, Polyester Filament Yarn, Polyester Staple Fibres, PTA,
LAB, Ethylene Glycol, PVC, PE, PP, Crude Oil, Gas, Norman Paraffin, Fibre
Fill, Ethylene, Propylene, Benzene, Xylene and Toluene. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
HDFC
Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai –
400013, ·
HDFC
Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai –
400013, ·
ICICI
Bank Limited, ·
Andhra
Bank, Mumbai ·
Bank
of ·
Bank
of ·
Bank
of ·
Canara
Bank, Mumbai ·
Central
Bank of ·
Citibank
N. A., Mumbai ·
Corporation
Bank, Mumbai ·
Deutsche
Bank, Mumbai ·
Dena
Bank, Mumbai ·
Hongkong
Bank, Mumbai ·
IDBI
Bank Limited, Mumbai ·
Indian
Bank, Mumbai ·
Indian
Overseas Bank, Mumbai ·
Oriental
Bank of Commerce, Mumbai ·
Punjab
National Bank, Mumbai ·
State
Bank of ·
State
Bank of Saurashtra, Mumbai ·
Standard
Chartered Grindlays Bank Limited, Mumbai ·
Syndicate
Bank, Mumbai ·
Union
Bank of ·
Vijaya
Bank, Mumbai ·
ICICI
Bank Limited, ·
Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, ·
ABN
AMRO Bank, Mumbai ·
Allahabad
Bank, Mumbai |
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Facilities : |
Notes :- Loans are secured by way of lien on all term deposits. |
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Banking
Relations : |
-- |
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Auditors 1: |
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|
Name : |
S.V. Ghatalia and Associates Chartered Accountants |
|
Address : |
16th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai –
400028, Maharashtra, India |
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PAN No.: |
AACFS6921Q |
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Auditors 2: |
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|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714/715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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PAN No.: |
AAAFC0662N |
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Subsidiaries : |
CIN: U52100MH2007PLC175530
CIN: U74140MH2000PLC128398
CIN: U51900MH2007PLC174470
CIN: U51909MH2007PLC175652
CIN No. : U85190MH2000PLC126442
CIN: U65990MH2007PLC170804
CIN: U51101MH2007PLC175511
CIN: U51101MH2007PLC171321
CIN: U25199MH1998PLC114011
CIN: U51101MH2007PLC175510
CIN U51909MH2006PLC166163
CIN: U52599MH2007PLC176409
CIN: U51900MH2007PLC175640
CIN: U51909MH2007PLC167793
CIN: U52100MH2007PLC175533
CIN: U01403MH2007PLC172415
CIN: U51101MH2007PLC175624
CIN: U51109MH2008PLC185094
CIN: U52599MH2007PLC176414
CIN: U51109MH2008PTC185092
CIN: U93090MH2007PLC167786
CIN: U51109MH2007PLC176416
CIN: U51109MH2008PLC185068
CIN: U17110MH2000PLC123731
CIN: U67200MH2006PLC165651
CIN: U51900MH2007PLC175670
CIN: U63040MH2007PLC173923
CIN: U51109MH2008PLC185095
CIN: U52190MH2007PLC175508
CIN: U51900MH2007PLC175636
CIN: U51909MH2006PLC166165
CIN: U51109MH2007PLC167805
CIN: U52100MH2007PLC172129
CIN: U70102MH2007PLC170415
CIN: U52599MH2007PLC168275
CIN: U15130MH2003PLC139197
CIN: U74140MH2000PLC128371
CIN: U74999MH2007PLC167704
CIN:U51900MH2007PTC175638
|
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|
Joint Venture and Associates : |
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Fellow Subsidiary : |
Reliance Corporate IT Park Limited CIN:U74140MH2001PLC131458 |
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|
|
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Holding Company : |
Reliance
Industries Limited, India CIN No. :
L17110MH1973PLC019786 |
CAPITAL STRUCTURE
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000000 |
Equity Shares |
Rs.10/- each |
Rs. 100000.000 Millions |
|
5000000000 |
Preference Shares |
Rs. 10/-each |
Rs. 50000.000 millions |
|
|
Total |
|
Rs.
150000.000 |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5735902750 |
Equity Shares |
Rs.10/- each |
Rs.
57359.028 Millions |
|
2580000000 |
Preference Shares |
Rs. 10/-each |
Rs.25800.000 Millions |
|
|
Total |
|
Rs.83159.028 Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000000 |
Equity Shares |
Rs.10/- each |
Rs. 150000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5730600000 |
Equity Shares |
Rs. 10/-
each |
Rs.57306.000
Millions |
NOTE :-
- Out
of the above, Reliance Industries Limited, the holding company, holds
5220000000 (Previous Year 3,390,000,000) fully paid-up Equity Shares and
NIL (Previous Year 6,100,000,000) partly paid-up Equity Shares.
- The Company is
authorised to issue up to forty nine crore Restricted Stock Units
("RSUs") to eligible employees (including employees of Reliance
Industries Limited, the holding company) under Reliance Retail Restricted
Stock Unit Plan 2007. The RSUs vest on different dates over a period of
sixteen years from the date of grant of RSUs as per the scheme announced
and upon vesting, the employees are entitled to one Equity Share of Rs. 10
each for every RSU. As on March 31, 2011, RSUs in force total to four
crore fifty five lakh seventy one thousand one hundred eighty nine.
- In terms of the Scheme
of Arrangement (“the Scheme”) under Sections 391 to 394 of the Companies
Act, 1956, sanctioned by the Hon’ble High Court of Judicature at Bombay
vide Order dated 14th October, 2011 certain undertakings of the
Company’s nine subsidiaries namely Reliance Agri Products Distribution
Limited, Retail Concepts and Services (India) Limited, Reliance Food
Processing Solutions Limited, Reliance Home Store Limited, Reliance
Hypermart Limited, Reliance Integrated Agri Solutions Limited, Reliance
Lifestyle Holdings Limited, Reliance Supply Chain Solutions Limited and
Reliance Wellness Limited were demerged and vested with Reliance Fresh
Limited, a subsidiary of the Company and the issued but uncalled share
capital of the Company has been reduced along with simultaneous
consolidation and division of the issued share capital under Sections 100
and 94 of the Companies Act, 1956. The Scheme became effective on 1st
December, 2011, the Appointed Date being 1st April, 2010. The effect of
the Scheme has been considered in these financial statements for the year
ended 31st March, 2011.
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 |
57306.000 |
57300.000 |
40510.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(378.100) |
(137.500) |
(319.753) |
|
|
NETWORTH |
56927.900 |
57162.500 |
40190.247 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
42.900 |
215.100 |
443.710 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
42.900 |
215.100 |
443.710 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
56970.800 |
57377.600 |
40633.957 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
781.800 |
655.000 |
245.779 |
|
|
Capital work-in-progress |
483.900 |
636.800 |
1076.668 |
|
|
|
|
|
|
|
|
INVESTMENT |
3667.400 |
1761.000 |
1182.763 |
|
|
DEFERREX TAX ASSETS |
184.800 |
375.000 |
122.768 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
1916.700
|
1377.618
|
|
|
Sundry Debtors |
1.900
|
97.900
|
356.615
|
|
|
Cash & Bank Balances |
126.000
|
305.900
|
732.986
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
61538.700
|
54099.300
|
48299.926
|
|
Total
Current Assets |
61666.600
|
56419.800
|
50767.145
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
9784.400
|
2443.600
|
12585.898
|
|
|
Other Current Liabilities |
0.000
|
0.300
|
0.000
|
|
|
Provisions |
29.300
|
31.100
|
185.257
|
|
Total
Current Liabilities |
9813.700
|
2475.000
|
12771.155
|
|
|
Net Current Assets |
51852.900
|
53944.800
|
37995.990
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
5.000 |
9.989 |
|
|
|
|
|
|
|
|
TOTAL |
56970.800 |
57377.600 |
40633.957 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5806.200 |
2760.800 |
5840.752 |
|
|
|
Other Income |
328.300 |
37.100 |
299.839 |
|
|
|
TOTAL (A) |
6134.500 |
2797.900 |
6140.591 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
4732.600 |
1451.500 |
|
|
|
|
Employee Related Expenses |
479.500 |
320.100 |
|
|
|
|
Administrative Selling Other Expenses |
904.300 |
1046.200 |
|
|
|
|
TOTAL (B) |
6116.400 |
2817.800 |
6317.136 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.100 |
(19.900) |
(176.545) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
45.200 |
32.500 |
36.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(27.100) |
(52.400) |
(212.925) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.100 |
17.600 |
29.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(50.200) |
(70.000) |
(242.666) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(190.400) |
(252.200) |
40.212 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-I) (J) |
(240.600) |
182.200 |
(202.454) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(137.500) |
(319.700) |
(117.299) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(378.100) |
(137.500) |
(319.753) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
NA |
0.000 |
38.866 |
|
|
|
Capital Goods |
NA |
0.000 |
21.442 |
|
|
TOTAL IMPORTS |
NA |
0.000 |
60.308 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.04) |
0.04 |
(0.05) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(3.92) |
6.51 |
(3.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.86) |
(2.54) |
(4.15) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.08) |
(0.12) |
(0.47) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.17 |
0.05 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.28 |
22.80 |
3.97 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
0.000
|
0.000
|
0.000
|
|
Creditors due others |
9784.400
|
2443.600
|
12585.898
|
|
|
|
|
|
|
Total |
9784.400
|
2443.600
|
12585.898
|
|
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 |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
OVERVIEW OF OPERATIONS
During the year the
Company through its wholly-owned subsidiaries continued to expand presence of
its value and specialty formats by launching over 90 new stores across India.
In-store initiatives, wider product choice and value merchandising enabled
Subject to achieve robust growth during the year. Subject has the highest
geographical footprint with over 1000 stores across 86 cities and is also the
largest food retailer in India. Subject has the largest diversified portfolio
in terms of formats among all retailers in the Country. Every week over 2.5
million customers shop in stores across value and specialty format.
Subject
established partnerships with several leading international brands aimed at meeting
customer aspirations. During the year, Subject doubled the presence of its
partner businesses and operated over 160 stores spread across major States in
India. In partnership with GrandVision, 51 new stores were opened during the
year in the eyecare business taking the total presence to over 100 stores
across the Country. During the year Subject launched the iconic Hamley’s toy
stores in India, beginning a new era in the evolution of toy market in India.
In the fashion and apparel segment over 40 stores with leading brand partners
like Marks and Spencer, Diesel, Paul & Shark, Zegna and Timberland were in
operation. Subject through its subsidiary Reliance Brands Limited also entered
into exclusive licensing agreements with two leading international brands,
‘Steve Madden’, a leading designer and retailer of fashion-forward footwear and
‘Quiksilver’, the world’s leading outdoor sports Lifestyle Company.
Subject’s
RelianceOne membership program has patronage of over 7 million customers across
India and continues to grow at a rapid pace.
In the coming
year, Subject will continue to focus on its core purpose of ‘Bettering the
lives of Indians everyday’ and on attaining the market leadership in value as
well as specialty segment. With the continued expansion of the Company and
sharing of strong sourcing capabilities and relationships with a large network
of vendors combined with strategic partnerships with international brands, the
directors are upbeat on strong performance of the Company and its subsidiaries
in the coming years.
FIXED ASSETS
- Freehold Land
- Plant and Machinery
- Electric Installations
- Equipments
- Furniture and Fixtures
- Vehicles
- Leasehold Improvement
PRESS RELEASE
RELIANCE INDUSTRIES CLOSER TO BEING NO 1 RETAILER
APRIL
17, 2013
Reliance Industries Ltd (RIL), the country’s highest valued
company, is on the way to becoming the number one retailer in India, seven
years after it diversified into this sector from its mainstay of refining and
the petrochemicals business.
This evening, it announced Rs 108000.000 Millions revenue by its retail arm for
the year ending March 31, a 42 per cent growth.
Kishore Biyani’s Pantaloon Retail’s latest financial result, reported for the
18 months ending December 31, showed net sales of Rs 197800.000 Millions. On an
annualised basis, this comes to Rs 131870.000 Millions, at an annual growth
rate of 10.2 per cent. Analysts’ estimate 15 per cent of this or about Rs
19800.000 Millions came from the apparel and fashion business that has been
recently sold to Aditya Birla Nuvo. The company has since been rechristened
Future Retail and its financial results for the quarter ending March is
awaited.
If one deducts the revenue of the sold business, the anualised revenue for
Future Retail would come to Rs 112090.000 Millions. “Future Retail’s financial
figures without the sold Pantaloon format is still awaited,” says Dhvani Modi,
analyst with domestic brokerage ICICI Direct. “However, as per the latest
numbers of Reliance Retail, it has come in neck to neck competition with Future
Retail in terms of turnover."
Future Retail executives were not available for comment. A mail sent did not
get any response.
The importance of the retail arm has risen in importance, given RIL’s
challenges in the petroleum exploration business, with depleting gas levels at
its KG-D6 basin. The company has cash equivalents of Rs 829750.000 Millions in
its books, which need to be deployed for better return on capital
“It (petro exploration) is one business which is dragging on Reliance
Industries for many years,” says A K Prabhakar, senior vice- president, equity
research, Anand Rathi Financial Services. “So, they are heavily banking on
retail and telecom and I think next year onwards, these will start making
profits.”
Reliance Retail faltered initially on a plan to set up 4,000 stores by 2010. In
the five years since it started operations in 2006, it could manage to set up
just 1,300 stores. Its much- hyped ‘farm to fork’ strategy wouldn’t take off,
following opposition in many states, dashing Ambani’s high hopes. In 2008-09,
Reliance Retail had to shut 50 shops, downsize its employee strength by a
little over 1,000 and exit two formats — Reliance Kitchen, which sold modular
kitchen furniture, and Reliance Wellness, a beauty and lifestyle
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.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.