MIRA
INFORM REPORT
|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MADURA GARMENTS LIFESTYLE RETAIL COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Indian Rayon Compound, Veraval – 362266, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.05.2007 |
|
|
|
|
Com. Reg. No.: |
04-058604 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101GJ2007PLC058604 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM11824B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM0583M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Apparel Accessories. |
|
|
|
|
No. of Employees
: |
80 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of Aditya Birla Nuvo Limited. It is an established company having satisfactory track record. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. In view of strong holding the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non Convertible Debenture: AA+ |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
September, 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.
LOCATIONS
|
Registered Office : |
Indian Rayon Compound, Veraval 362266, Gujarat, India |
|
Tel No.: |
91-2876-245711 |
|
Fax No.: |
91-2876-243220 |
|
E-Mail : |
mohana.sundaram@madura.adityabirla.com
|
|
Website: |
|
|
Area: |
4000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
No.110 4th Cross, 5th Block, Koramangala Industrial
Layout, Koramangala, Bangalore-560095, Karnataka, India |
|
Tel. No.: |
91-80-66915000 / 66182000 |
|
Mobile No.: |
91-9886000837 |
|
Fax No.: |
91-80-66915050 |
|
E-Mail : |
|
|
Website: |
|
|
Area: |
4000 Sq. fts |
|
Location: |
Leased |
|
|
|
|
Corporate
Office: |
Aditya Birla Group, 111-112, 3rd Cross, 1st
Main, 7th Block Koramangala, Bangalore-560095, Karnataka, India |
|
|
|
|
Bangalore Office
: |
Plot No. 5B, Regent Gateway, Doddanakundi Village, KIADB Industrial
Area, ITPL Road, Bangalore-560048, Karnataka, India |
|
Tel No.: |
91-80-67881095/67881000 |
|
Fax No.: |
91-80-67271616 |
|
Email: |
DIRECTORS
(AS ON 14.07.2012)
|
Name : |
Mr. Pranab Barua |
|
Designation : |
Director |
|
Address : |
D-1, Cedar Crest, 258, 10th Main Defence Colony,
Indiranagar, Bangalore-560038, Karnataka, India |
|
Date of Birth/Age : |
21.09.1952 |
|
Date of Appointment : |
27.01.2009 |
|
DIN No.: |
00230152 |
|
|
|
|
Name : |
Mr. Ashish Dikshit |
|
Designation : |
Director |
|
Address : |
E-405, Raheja Residency, 8th C, Main Road, Koramangala. 3rd
Block, Bangalore 560034, Karnataka. |
|
Date of Birth/Age : |
15.07.1969 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
01.10.2007 |
|
DIN No.: |
01842066 |
|
|
|
|
Name : |
Mr. Srinivasan Visvanathan |
|
Designation : |
Director |
|
Address : |
No. 481 First Floor, 15th Main 16th Cross HSR
Layout, Sector 4, Bangalore-560102, Karnataka, India |
|
Date of Birth/Age : |
02.06.1960 |
|
Date of Appointment : |
20.09.2009 |
|
DIN No.: |
02312556 |
|
|
|
|
Name : |
Mr. Sushil Agarwal |
|
Designation : |
Director |
|
Address: |
Ocean CH Society Lmited, 301 Ocean View Union Park, Khar West,
Mumbai-400052, Maharashtra, India |
|
Date of Birth/ Age: |
13.06.1963 |
|
Date of Appointment: |
20.07.2009 |
|
DIN No.: |
00060017 |
|
|
|
|
Name : |
Mr. Devendra Bhandari |
|
Designation : |
Director |
|
Address: |
A1601, Aster Tower, Film City Road, Malad (East), Mumbai, Maharashtra,
India |
|
Date of Birth/ Age: |
31.07.1953 |
|
Date of Appointment: |
08.07.2010 |
|
DIN No.: |
00339397 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Dikshit |
|
Designation : |
Manager |
|
Address : |
E-405, Raheja residency, 8th C, Main Road, Koramangala, 3rd Block, Bangalore
560034, Karnataka. |
|
Date of Birth/Age : |
15.07.1969 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
15.07.2009 |
|
|
|
|
|
|
|
Pan No.: |
ADXPA0013B |
|
|
|
|
Designation : |
Mr. Mohana Sundaram G |
|
Address : |
Secretary |
|
Address: |
# 382, MSR Nagar, Bangalore-560054, Karnataka, India |
|
Qualification : |
17.10.1967 |
|
Date of Appointment : |
15.10.2008 |
|
Pan No.: |
AMIPS5440E |
|
|
|
|
Name : |
Mr. George M Santacroce. |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Ms. Julie Woodhead |
|
Designation : |
General Merchandising Manager |
|
|
|
|
Name : |
Mr. Ram Narayan Iyer |
|
Designation : |
Director Operations |
|
|
|
|
Name : |
Mr. Dipanjal Bandupadyay |
|
Designation : |
Group of Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 14.07.2012)
|
Names of Shareholders |
No. of Equity Shares |
No. of Preference
Shares |
|
|
|
|
|
Aditya Birla Nuvo Limited, India |
9950000 |
10000000 |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Abnl Investments Limited, India |
49994 |
|
|
|
|
|
|
Total |
10000000 |
10000000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Apparel Accessories. |
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|
Products : |
|
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|
|
|
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|
Brand Names : |
“The Collective Store” |
GENERAL INFORMATION
|
No. of Employees : |
80 [Approximately] |
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|
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|
Bankers : |
·
Dhanlakshmi Bank Limited Ground Floor, Janmabhoomi Bhavan, Janmabhoomi Marg, Fort, Mumbai
400001, Maharashtra, India ·
HSBC Bank Limited M.G. Road, Bangalore 560025, Karnataka, India ·
HDFC Bank Limited Salco Centre,
Richmond Road, Bangalore 560025, Karnataka, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Center, Anchorage II, 100/2, Richmond Road, Bangalore-560025,
Karnataka, India |
|
PAN No.: |
AACFD3771D |
|
|
|
|
Holding Company
: |
·
Aditya Birla Nuvo Limited CIN No.:
L17199GJ1956PLC001107 |
|
|
|
|
Fellow Subsidiaries : |
·
Aditya Birla Finance Limited ·
ABNL Investment Limited ·
LIL Investment Limited ·
Birla Sunlife Insurance Company Limited ·
Aditya Birla Minacs IT Services Limited |
CAPITAL STRUCTURE
AS ON 14.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs. 10/- each |
Rs.1100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
108888890 |
Equity Shares |
Rs. 10/- each |
Rs.1088.889 Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
10000000 |
Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.
200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares * |
Rs.10/- each |
Rs.100.000 millions |
|
10000000 |
Redeemable Cumulative Preference Shares ** |
Rs.10/- each |
Rs.100.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.
200.000 Millions |
NOTE:
(A) 8% Redeemable Cumulative Preference Shares of Rs. 10 each.
(B) All the above mentioned Preference Shares are held by the Holding
Company Aditya Birla Nuvo Limited
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
200.000 |
200.000 |
|
(b) Reserves & Surplus |
|
(1596.804) |
(1339.174) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
4704.000 |
3581.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
4.438 |
54.347 |
|
(b) Trade payables |
|
257.185 |
137.740 |
|
(c) Other current
liabilities |
|
42.106 |
159.121 |
|
(d) Short-term provisions |
|
4.607 |
2.621 |
|
TOTAL |
|
3615.532 |
2795.655 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
171.367 |
244.853 |
|
(ii) Intangible Assets |
|
4.424 |
7.245 |
|
(iii) Capital
work-in-progress |
|
22.334 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
3003.177 |
2253.177 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
80.961 |
58.813 |
|
(e) Other Non-current assets |
|
3.932 |
3.882 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
205.726 |
136.941 |
|
(c) Trade receivables |
|
21.773 |
19.271 |
|
(d) Cash and cash
equivalents |
|
12.877 |
0.854 |
|
(e) Short-term loans and
advances |
|
76.863 |
66.911 |
|
(f) Other current assets |
|
12.098 |
3.708 |
|
TOTAL |
|
3615.532 |
2795.655 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
200.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(963.714) |
|
|
NETWORTH |
|
|
(763.714) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
534.117 |
|
|
2] Unsecured Loans |
|
|
791.300 |
|
|
TOTAL BORROWING |
|
|
1325.417 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
561.703 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
284.323 |
|
|
Capital work-in-progress |
|
|
100.554 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
126.585
|
|
|
Sundry Debtors |
|
|
31.027
|
|
|
Cash & Bank Balances |
|
|
14.818
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
140.453
|
|
Total
Current Assets |
|
|
312.883 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
121.605
|
|
|
Other Current Liabilities |
|
|
11.013
|
|
|
Provisions |
|
|
3.439
|
|
Total
Current Liabilities |
|
|
136.057
|
|
|
Net Current Assets |
|
|
176.826
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
561.703 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Revenue |
599.990 |
461.944 |
302.663 |
|
|
|
Other Income |
13.329 |
163.209 |
1.468 |
|
|
|
TOTAL (A) |
613.319 |
625.153 |
304.131 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in Trade |
463.802 |
348.271 |
|
|
|
|
Employee Benefits Expenses |
73.621 |
104.710 |
|
|
|
|
Amortization of Intangible Liabilities
|
2.821 |
5.820 |
463.714 |
|
|
|
Other Expenses |
273.813 |
256.415 |
|
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock
in Trade |
(68.786) |
(10.355) |
|
|
|
|
TOTAL (B) |
745.271 |
704.861 |
463.714 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(131.952) |
(79.708) |
(159.583) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.983 |
176.759 |
138.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(171.935) |
(256.467) |
(297.930) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION (F) |
85.695 |
118.992 |
70.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
(257.630) |
(375.459) |
(368.917) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
(257.630) |
(375.459) |
(368.917) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(963.715) |
(594.798) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(1339.174) |
(963.715) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Inventory Purchase |
NA |
72.788 |
91.450 |
|
|
|
Capital Goods |
NA |
12.414 |
9.289 |
|
|
|
Cost of Production testing |
NA |
0.131 |
1.324 |
|
|
TOTAL IMPORTS |
NA |
85.333 |
102.063 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(26.70) |
(38.48) |
(37.59) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(42.00)
|
(60.06)
|
(121.30)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(42.94)
|
(81.27)
|
(145.20)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(43.66)
|
(69.21)
|
(61.77)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.33
|
(0.48)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(3.37)
|
(3.19)
|
(1.74)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
0.64
|
2.30
|
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 |
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 |
----- |
|
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 |
No |
|
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) |
|
|
|
|
|
|
LONG TERM
BORROWINGS |
|
|
|
Deposits |
1504.000 |
26.000 |
|
|
|
|
|
Total |
1504.000 |
26.000 |
NOTE:
Registered office of the company has been shifted from Plot No. 5B, Regent Gateway, Doddanekundi Village, KIADB Industrial Area, ITPL Road, Bangalore – 560 048, Karnataka to the present address w.e.f. 20.10.2009
REVIEW OF
PERFORMANCE
The Company operated three stores of The Collective in the financial
year ended 31 st March 2012. A fourth store of The Collective has been launched
in April 2012.
The Company has also launched 2 retail stores as a franchisee of Planet
Fashion.
The Collective stores continue to set benchmarks in retail experience,
product offerings and visual merchandising.
FIXED ASSETS:
· Leasehold Improvements
· Plant and Machinery
· Computer and Accessories
· Office Equipments
· Fixture and Fittings
· Vehicles
PRESS RELEASE
MADURA F&L GETS ISO 27001 CERTIFICATION
The certification covers all its factories,
warehouse and regional and corporate offices across all functions
Madura Fashion and Lifestyle (Madura F&L), a division of Aditya Birla Nuvo Limited, one of India's fastest growing branded apparel companies and a premium lifestyle player in the retail sector, has received ISO 27001 certification covering all of its factories, warehouse and regional and corporate offices across all functions.
ISO 27001 is an information security management system (ISMS) standard
published in October 2005 by the International Organization for Standardization
(ISO) and the International Electrotechnical Commission (IEC). It is known as
ISO/IEC 27001:2005 – Information technology – Security techniques – Information
security management systems – Requirements.
ISO/IEC 27001 formally specifies a management system that is intended to bring
information security under explicit management control. Being a formal
specification means that it mandates specific requirements and organisations
who adopt this standard can be formally audited and certified compliant with
the standard.
The key reasons to adopt ISO 27001 are:
· It is suitable for protecting critical and sensitive information
· It provides a holistic, risk-based approach to secure information and compliance
· Demonstrates credibility, trust, satisfaction and confidence with stakeholders, partners, and customers
· Demonstrates security status according to internationally accepted criteria
· Creates a market differentiation due to prestige, image and external goodwill
The certification audit was conducted by an external accredited certification agency, the British Standards Institution (BSI) during February-March, 2013. BSI Group is the world’s largest certification body, which audits and provides certification to companies worldwide who implement management systems standards.
MADURA FASHION AND
LIFESTYLE RECEIVES RETAIL RECOGNITION
~ Madura F&L shines at Star Retailer Awards by
Franchise India ~
Bangalore: Madura
Fashion and Lifestyle (Madura F&L), a division of Aditya Birla Nuvo
Limited, is one of India's fastest growing branded apparel companies and a
premium lifestyle player in the retail sector, which has revolutionised India's
readymade apparel and retail market. Madura F&L, a name that is synonymous
with panache and modernity, is defined by its brands – Louis Philippe, Van
Heusen, Allen Solly, Peter England, Esprit, The Collective, Planet Fashion and
People.
Recently, Madura
F&L won a series of accolades to its name at the Star Retailer awards,
organised by Franchise India, the only award-of-its-kind for the retail
industry. Madura F&L was presented with the 'Fashion Retailer of the Year'
award. Mr. Ashish Dikshit, CEO, Madura F&L and the driving force behind
Madura F&L was presented with the 'Retail Face of the Year' and Van Heusen,
the premium men's formal wear brand from Madura F&L was awarded the
'Licensee of the Year' award.
Over the years,
Madura F&L has developed a vast network comprising more than 1,100
exclusive stores and a growing presence in over 1,500 premium multi-brand trade
outlets.
Garnering the awards
from Franchise India's award ceremony for retailers, acknowledges the brand's
growth and development in the right direction.
About Madura Fashion
and Lifestyle
A division of Aditya Birla Nuvo Limited, Madura Fashion and Lifestyle (Madura
F&L) is one of India's fastest growing branded apparel companies and a
premium lifestyle brand in the retail sector, which has revolutionised India's
readymade apparel and retail market. Over the years, it has developed a vast
network comprising more than 1,100 exclusive stores and has a growing presence
in over 1,500 premium multi-brand trade outlets.
Madura F&L
clocked a turnover of Rs.21150.000 Millions in FY 2011-12 and is poised to grow
more than twice its current size. The company plans to achieve a turnover of $1
billion (about Rs.55000.000 Millions) in the next three to four years.
Madura F&L, a
name that is synonymous with panache and modernity, is defined by its brands –
Louis Philippe, Van Heusen, Allen Solly, Peter England, Esprit, The Collective,
Planet Fashion and People - brands that personify style, attitude, luxury and
comfort.
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.57.73 |
|
|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.