1. Summary Information
|
|
|
Country |
India |
|
Company Name |
FUTURE VALUE
RETAIL LIMTED |
Principal Name 1 |
Mr. Chandra Prakash Toshniwal |
|
Status |
Good |
Principal Name 2 |
Mr. Vivek Biyani |
|
|
|
Registration # |
11-171524 |
|
Street Address |
Knowledge House,
Shyam Nagar, Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai-400060,
Maharashtra, India |
||
|
Established Date |
11.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-22-30841300 |
Business Style 1 |
Retail Chain Business |
|
Fax # |
91-22-66442222 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Foods |
|
|
# of employees |
Above 500 [Approximately] |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 664,999,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 100% |
Banking |
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
-- |
Pantaloon Retail (India) Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.06.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
11,961,700,000 |
Current Liabilities |
9,185,900,000 |
|
Inventories |
18,229,700,000 |
Long-term Liabilities |
27,022,200,000 |
|
Fixed Assets |
15,937,800,000 |
Other Liabilities |
990,400,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
37,198,500,000 |
|
Invest& other Assets |
2,482,900,000 |
Retained Earnings |
10,748,600,000 |
|
|
|
Net Worth |
11,413,600,000 |
|
Total Assets |
48,612,100,000 |
Total Liab. & Equity |
48,612,100,000 |
|
Total Assets (Previous Year) |
33,809,500,000 |
|
|
|
P/L Statement as of |
30.06.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
69,148,300,000 |
Net Profit |
1,130,000,000 |
|
Sales(Previous yr) |
29,917,100,000 |
Net Profit(Prev.yr) |
506,000,000 |
MIRA
INFORM REPORT
|
Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE VALUE RETAIL LIMTED (w.e.f. 16.11.2009) |
|
|
|
|
Formerly Known as : |
PANTALOON FUTURE VENTURES LIMITED |
|
|
|
|
Registered Office : |
Knowledge House, Shyam Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
11.06.2007 |
|
|
|
|
Com. Reg. No.: |
11-171524 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 664.999 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U52100MH2007PLC171524 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMF05801F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECP3041P |
|
|
|
|
Legal Form : |
A Closely Held Pubic Limited Liability Company |
|
|
|
|
Line of Business : |
Retail Chain Business of Food and Other Items. |
|
|
|
|
No. of Employees : |
Above 500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 45600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Pantaloon Retail ( It is an established company having fine track record. The management
has failed to file its latest financial i.e. 2012 with the government
department. As per previous year’s record, the financial position of the
company appears to be sound. Trade relations are reported as decent. Business
is active. Payments are reported to be regular and as per commitments. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A1 (Short Term Bank Facility) |
|
Rating Explanation |
Very strong degree of safety. It carry lowest credit risk. |
|
Date |
05.11.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A (Long Term Bank Facility) |
|
Rating Explanation |
Adequate degree of safety. It carry low credit risk. |
|
Date |
05.11.2012 |
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 PARTED BY
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-61190000 |
LOCATIONS
|
Registered Office / Zonal Office 1 : |
Knowledge House, Shyam Nagar, |
|
Tel. No.: |
91-22-30841300 / 67840400 |
|
Fax No.: |
91-22-66442222 / 67840400 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Future Retail Home Office, 247, Park Tower C, 9th Floor,
LBS Marg, Vikhroli (West), Mumbai-400079, Maharashtra, India |
|
Tel No.: |
91-22-6119000 |
|
|
|
|
Zonal Office 2 : |
Plot No.82, Sector-32, Gurgaon, Haryana, India |
|
Tel No.: |
91-124-44641000 |
|
E-mail: |
|
|
Website: |
|
|
|
|
|
Branch Offices : |
Located At:
|
DIRECTORS
AS ON 30.06.2011
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
Kanishka, Great
Eastern Link, Ram Mandir Road, Goregaon (West), Mumbai – 400 062,
Maharashtra, India |
|
Date of Birth/Age : |
20.09.1966 |
|
Date of Appointment : |
11.06.2007 |
|
DIN No.: |
00036303 |
|
|
|
|
Name : |
Mr. Vivek Biyani |
|
Designation : |
Director |
|
Address : |
304, Jeevan
Vihar, Manav Mandir Road, Malabar Hill, Mumbai-400006, Maharashtra, India |
|
Date of Appointment : |
06.01.2011 |
|
DIN No.: |
01977838 |
|
|
|
|
Name : |
Mr. Damodar Shyamsunder Mall |
|
Designation : |
Director |
|
Address : |
2A, Regency
Park, Eden Woods, Thane (west), Mumbai, 400601, Maharashtra, India |
|
Date of Appointment : |
13.05.2011 |
|
DIN No.: |
00043330 |
KEY EXECUTIVES
|
Name : |
Mr. Kuldeep R Sharma |
|
Designation : |
Secretary |
|
Address : |
601/A, Shiv Parvati,
Chincholi Bunder Road, Malad(West), Mumbai –
400064, Maharashtra, India |
|
Date of Appointment : |
15.11.2010 |
|
PAN No.: |
AAFPS9218R |
|
|
|
|
Name : |
Mr. Laxmikant Somani |
|
Designation : |
Finance Officer |
|
|
|
|
Name : |
Mrs. Rupali M Bhutade |
|
Designation : |
Secretary |
|
Date of Appointment : |
01.06.2010 |
|
PAN : |
AGVPB8438J |
|
|
|
|
Name : |
Mr. Amit Kumar |
|
Designation : |
Head-Fashion @ Big Bazaar |
|
|
|
|
Name : |
Mr. Sanjeev Agrawal |
|
Designation : |
Joint CEO - FVRL |
|
|
|
|
Name : |
Mr. Dupindera Sand hit |
|
Designation : |
GM - Category (Food
Bazaar) |
|
|
|
|
Name : |
Mr. Sadashiv Nayak |
|
Designation : |
Joint CEO - FVRL |
|
|
|
|
Name : |
Mr. G. R Venkatesh |
|
Designation : |
Head -People Office |
|
|
|
|
Name : |
Mr. Venkateshwar Kumar M |
|
Designation : |
Vice President-South |
|
|
|
|
Name : |
Mr. Hans Udeshi |
|
Designation : |
CEO - General
Merchandising |
|
|
|
|
Name : |
Mr. Rajiv Nambiar |
|
Designation : |
Chief People
Officer-Talent Design and Development |
|
|
|
|
Name : |
Ms.Suzette Sugathan |
|
Designation : |
Business Head - Health
& Beauty |
|
|
|
|
Name : |
Mr. Upamanyu Bhattacharya |
|
Designation : |
CEO-KB's Fair Price |
|
|
|
|
Name : |
Mr. Vinod Bajaj |
|
Designation : |
Head - Business
Development, Food Business |
|
|
|
|
Name : |
Mr. Saurabh Bhushan
Chadha |
|
Designation : |
Head - Operations |
|
|
|
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Department |
|
|
|
|
AUDIT COMMITTEE: |
|
|
|
|
|
Name : |
Mr. C P Toshniwal |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Vivek Biyani |
|
Designation : |
Member (w.e.f. 6 January 2011) |
|
|
|
|
Name : |
Mr. Damodar Mall |
|
Designation : |
Member (w.e.f. 13 May 2011) |
|
|
|
|
Name : |
Mr. Raghu Pillai |
|
Designation : |
Member (w.e.f. 6 January 2011 upto 10 April 2011) |
|
|
|
|
Name : |
Mr. Rajesh Kalyani |
|
Designation : |
Member (upto 6 January 2011) |
|
|
|
|
Name : |
Mr. Sanjay Rathi |
|
Designation : |
Member (upto 6 January 2011) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.08.2010
|
Names of Shareholders |
No. of Shares |
|
Pantaloon Retail (India) Limited, India |
66499905 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Rajesh
Kalyani |
1 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Chandra
Prakash Toshniwal |
1 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Sanjay Rathi |
1 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Dinesh
Maheshwari |
1 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Vimal Dhurve |
1 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Milind
Budhakar |
1 |
|
Pantaloon Retail (India) Limited, India Jointly with Mrs. Rupali
Bhutada |
1 |
|
Total |
66499912 |
AS ON 28.08.2010
|
Equity Share
Breakup Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retail Chain Business of Food and Other Items. |
|
|
|
|
Brand Names : |
Big Bazaar |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|||||||||||||||||||||||||||||||
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No. of Employees : |
Above 500 [Approximately] |
|||||||||||||||||||||||||||||||
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Bankers : |
|
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|
|||||||||||||||||||||||||||||||
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Facilities : |
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|||||||||||||||||||||||||||||||
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
NGS and Company Chartered Accountants |
|
Address : |
B-46, 3rd Floor, Pravasi Industrial Estate, |
|
|
|
|
Holding Company : |
Pantaloon Retail ( CIN No.: L52399MH1987PLC044954 |
|
|
|
|
Subsidiaries |
Future
Fresh Foods Limited |
|
|
|
|
Associates : |
Galaxy Entertainment Corporation Limited |
|
|
|
|
Fellow Subsidiaries : |
·
FSC Brand Distribution Services Limited (Formerly Known as
FLSL Distribution Services Limited) ·
Future Agrovet Limited ·
Future Capital Holdings Limited ·
Future E-Commerce Infrastructure Limited ·
Future Knowledge Services Limited ·
Future Learning and Development Limited ·
Future Media (India) Limited ·
Future Mobiles and Accessories Limited (till 29 th June
,2011) ·
Future Supply Chain Solutions Limited (Formerly known as
Future Logistic Solutions Limited) ·
Winner Sports Limited ·
Home solution Retail (India) Limited ·
Splendor Fitness Private Limited (Formerly Known as
Talwalkars Pantaioon Fitness private Limited) · Clarks Future Footwear Limited (till 26 December 2010) |
CAPITAL STRUCTURE
AS ON 30.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs. 10 each |
Rs. 1000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66,499,912 |
Equity Shares |
Rs. 10 each |
Rs. 665.000 millions |
|
|
|
|
|
NOTE:
Out of above 66499912 equity shares of Rs. 10 each
fully paid up are held by Pantaloon Retail India Limited, the holding company
26399912 equity shares of Rs. 10 each fully
paid up allotted as fully paid up Bonus share by capitalization of shares
premium
FINANCIAL DATA
[All figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2011 (12 Months) |
30.06.2010 (15 Months) |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
665.000 |
665.000 |
21.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10748.600 |
9618.600 |
264.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(1.928) |
|
|
NETWORTH |
11413.600 |
10283.600 |
283.072 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
16945.100 |
12976.300 |
0.000 |
|
|
2] Unsecured Loans |
10077.100 |
2313.400 |
0.000 |
|
|
TOTAL BORROWING |
27022.200 |
15289.700 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
780.000 |
563.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39215.800 |
26136.300 |
283.072 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15937.800 |
12070.300 |
0.000 |
|
|
Capital work-in-progress |
2383.100 |
2240.700 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
99.800 |
2.400 |
283.048 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18229.700
|
11325.400
|
0.000 |
|
|
Sundry Debtors |
1965.600
|
1475.000
|
0.000 |
|
|
Cash & Bank Balances |
409.500
|
634.800
|
0.043 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
9586.600
|
6060.900
|
0.000 |
|
Total
Current Assets |
30191.400
|
19496.100
|
0.043 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4146.700 |
3074.700 |
|
|
|
Current Liabilities |
5039.200
|
4404.900
|
0.019 |
|
|
Provisions |
210.400
|
193.600
|
0.000 |
|
Total
Current Liabilities |
9396.300
|
7673.200
|
0.019 |
|
|
Net Current Assets |
20795.100
|
11822.900
|
0.024 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39215.800 |
26136.300 |
283.072 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2011 (12 Months) |
30.06.2010 (15 Months) |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Operating Income |
69148.300 |
29917.100 |
0.000 |
|
|
|
Other Income |
37.700 |
11.000 |
0.200 |
|
|
|
TOTAL (A) |
69186.000 |
29928.100 |
0.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
51777.900 |
22430.500 |
0.000 |
|
|
|
Operating and other Expenses |
9443.300 |
4071.600 |
0.300 |
|
|
|
Personal Expenses |
2664.000 |
1144.600 |
0.000 |
|
|
|
TOTAL (B) |
63885.200 |
27646.700 |
0.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5300.800 |
2281.400 |
(0.100) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2397.000 |
1030.300 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2903.800 |
1251.100 |
(0.100) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1211.700 |
504.400 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1692.100 |
746.700 |
(0.100) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
562.100 |
240.700 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX (G-H) (I) |
1130.000 |
506.000 |
(0.100) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
254.100 |
(1.900) |
(1.800) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Debenture Redemption Reserve |
250.000 |
250.000 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1134.100 |
254.100 |
(1.900) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings through credit cards |
204.200 |
92.100 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
220.300 |
32.400 |
0.000 |
|
|
|
Finished Goods |
1077.400 |
222.200 |
0.000 |
|
|
TOTAL IMPORTS |
1297.700 |
254.600 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.99 |
13.99 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2011 (12 Months) |
30.06.2010 (15 Months) |
31.03.2009 |
|
PAT / Total
Income |
(%) |
1.63
|
1.69
|
(50.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.45
|
2.49
|
(17.28) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.67
|
2.36
|
(232.55) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.07
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.19
|
2.23
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.21
|
2.54
|
2.26 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
Unsecured Loan |
30.06.2011 (12
Months) |
30.06.2010 (15
Months) |
|
|
[Rs. In Millions] |
|
|
Debenture |
|
|
|
Compulsory Convertible Debentures Series A |
5350.000 |
0.000 |
|
Compulsory Convertible Debentures Series B |
1500.000 |
0.000 |
|
From Banks |
0 |
0 |
|
Long Term |
2227.100 |
1933.300 |
|
Short Term |
1000.000 |
250.100 |
|
Inter Corporate Deposits |
0.000 |
130.000 |
|
TOTAL
|
10077.100 |
2313.400 |
COMMENCEMENT OF
VALUE RETAIL BUSINESS
The Company is 100%
subsidiary of Pantaloon Retail (
BUSINESS OVERVIEW,
GROWTH AND EXPANSION
The
Company is engaged in Value Retail Business since 1st January, 2010 as part of
the realignment initiative of the Future Group and its holding company
Pantaloon Retail (
During
the year, the Company opened new 26 Food Bazaars including SIS located within
the 19 new Big Bazaar stores between July 2010 and June 2011. In addition to
the above, other formats of the Company also saw a good growth in terms of
numbers as well as turnover.
A
crucial roll out for the forthcoming year is the launch of Food Hall - an
upgraded food store catering to a more evolved set of customers willing to pay
a higher price for more value added food products as well as international food
ingredients.
The
management is also concentrating in increasing its presence in fashion through
"fashion at Big Bazaar" [f@bb], providing multiple choice to value customer in fashion
segment.
With
such initiative and many more to be added, Management is positive of the growth
of the business and Company.
HOLDING
COMPANY
The
Company is 100% subsidiary of Pantaloon Retail (
DIRECTORS
With
deep regret, the report the sad and sudden demise of Mr. Raghu Piilai, then
Executive Director, on 10 April 2011. Mr. Raghu Pillai was associated with the
Company since December, 2010. In the short stint he had given right direction to the
Company operations. The Board places on record its appreciation for
contribution of Mr. Raghu Pillai during his tenure as Executive Director of the
Company. As per the applicable provisions of the Companies Act, 1956, the
resolution for approving his appointment for the period of his service and
remuneration paid to him during that period has been submitted to the members
for their consideration with recommendation of the Board.
During the
year, the Board had co-opted Ms. Ashni Biyani, Mr. Vivek Biyani, Ms. Rajni
Bakshi and Ms. Ranjana Kumar as Additional Directors of the Company with effect
from 6 January 2011.
Further
the Board had appointed Mr. Damodar Mall as an Additional Director of the
Company with effect from 13 May 2011. He has further been appointed as
Executive Director for a period of 3 years with effect from 13 May 2011 in
accordance with the recommendation of the Remuneration and Nomination
Committee. As per the applicable provisions of the Companies Act, 1956, the resolution
for approving his appointment and remuneration payable to him is being
submitted to the members for their consideration with recommendation of the
Board.
During the
year, Mr. Sanjay Rathi and Mr. Rajesh Kalyani resigned from the Directorship of
the Company with effect from 6 January 2011. The Board wishes to place on
record its appreciation for the valuable services rendered by them during their
tenure.
In terms
of Section 255 and 256 the Companies Act, 1956, Mr. C P Toshniwal retires at
the ensuing Annual General Meeting of the Company and being eligible, offers
himself for the appointment as Director.
In terms
of section 260 of the Companies Act, 1956, Ms. Ashni Biyani, Mr. Vivek Biyani,
Ms. Rajni S Bakshi, Ms. Ranjana Kumar and Mr. Damodar Mall hold office as
Additional Directors till the date of ensuing annual general meeting. The
Company is in receipt of notices pursuant to the provisions of Section 257 of
the Companies Act, 1956 read with Articles of Association of the Company from
the members proposing the candidature of Ms. Ashni Biyani, Mr. Vivek Biyani,
Ms. Rajni S Bakshi, Ms. Ranjana Kumar and Mr. Damodar Mall for the appointment
as Directors liable to retire by rotation.
CONTINGENT
LIABILITIES: [AS ON 30.06.2011]
- Amount outstanding for guarantees given by
banks on behalf of the company and group companies is Rs 90.400 Millions
(2010: Rs. 34.900 Millions)
- Amount outstanding for Corporate guarantee
given to banks on behalf of Holding company is Rs.613.200 Millions (2010 :
Rs.NIL)
- Claims against the company not acknowledged as
debts : Rs. 02.400 Millions (2010: Rs.Nil)
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U52100MH2007PLC171524 |
|
Name of the
company |
FUTURE VALUE RETAIL LIMTED |
|
Address of the
registered office or of the principal place of business in |
Knowledge House, Shyam Nagar, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank, 2nd Floor E Wing, Axis House, Bombay Dying Mills
Compound, Pandurang Budhkar Marg, Worli, Mumbai 400025, Maharashtra, India |
|
Nature of
instrument creating charge |
Indenture of
Mortgage dated 25th March 2011 between the Company and Axis Bank
Limited(security trustee) |
|
Date of
instrument Creating the charge |
25.03.2011 |
|
Amount secured by
the charge |
Rs. 1250.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest mutually agreed
between Company and the Lender Terms of repayment As per sanction
letter. Extent and operation of the charge The Company has
created residual charge on fixed assets (both movable and immovable) and current
assets in favour of Axis Bank Limited (security Trustee) to secure the
repayment of the working capital facilities of Rs. 1250.000 millionss with
all interest, fees, premia, cost, charges, expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Residual Charge
on fixed asset of the Company situated at Flat no 10 1, Building Ostwal Empire, Boisar, Tal
Palghar, District Thane and on current assets of the Company |
FIXED ASSETS:
·
Building and Leasehold Improvement
·
Plant and Machinery
·
Office Equipments
·
Computers and Software
·
Furniture and Fittings
·
Vehicles
·
Air Conditioners
PRESS RELEASES:
BIG
BAZAAR ANNOUNCES "INDIA'S MOST STYLISH HOMES" FESTIVAL
DECEMBER
05, 2012
Leading TV personalities Ram Kapoor and
Sakshi Tanwar can be your guests – Win Big Bazaar’s `India’s Most Stylish
Homes’ contest Amazing deals on the latest and widest range of products to
style your home is your home stylish? Is it the neighbor’s envy? Do people
praise your home every time you have them over If yes, then it’s time to visit
Big Bazaar’s `India’s Most Stylish Homes’ festival from 22nd December 2012 to
1st January 2013. You can avail the hottest deals and best offers on a wide and
stylish range of Home makeover products. Also part of the festival is a contest
to judge India’s Most Stylish Homes. What’s more is that if you win the
contest, you can have Indian television’s hottest onscreen couple Ram Kapoor
and Sakshi Tanwar visiting your home and being your guests. To add to this,
there are also free Home Makeovers to be won for 31 city winners and 106 store
winners.
India’s Most Stylish Homes festival will
have the most amazing deals on home fashion, home needs, luggage, and footwear
categories. The festival running across India in 31 cities starting from 22nd
December 2012 to 1st January 2013 will offer customers the best offers on a
wide range of products to style their homes at the most affordable price.
Some of the amazing offers on the home
makeover products are Flat 40% off on carpets with an MRP of Rs 1000 and above,
Flat 25% off on curtains and 10% off on the entire range of Dreamline
kitchenware and entire range of Milton and Cello casseroles. There’s also Flat
50% off on Milestone soft/hard trolleys and wheel duffle bags. Speaking about
this mega home festival, Mr. Sadashiv Nayak, CEO, Big Bazaar said, “When it
comes to home, we have a wide range of products for the living room, kitchen,
bedroom and bathroom. For these 11 days, we have spanned the entire space of
furniture; appliances, storage, and crockery to create an exciting range with
the best offers to bring the whole home come alive. We want to help every
Indian achieve their dream of owning a stylish home”. Participating in Big Bazaar’s
`India’s Most Stylish Homes’ is simple and easy. You are immediately entitled
to participate once you make a purchase of Rs. 300 at any of the Big Bazaar
outlets. This contest is being held across 106 Big Bazaar outlets in over 31
cities.
The process of participating in the contest
is really simple.
• You can enter the contest by registering
through your Facebook account
• If you don’t have a Facebook account, you
can always Email the photograph of your stylish home or
• Or you can use the specially created Big
Bazaar drop box at the Big
Bazaar store to participate in the contest.
When asked why the brand associated with Ram and Sakshi, Mr. Nayak explained,
“The idea was to come up with a prize that the customer would remember forever.
That’s when we decided to get Sakshi Tanwar and Ram Kapoor who are both well
known celebrities and feature in the popular Hindi serial on television called
‘Bade Ache Lagte Hain’. They have a certain degree of unique style element to
them which makes them the ideal couple for our contest.”
Big Bazaar’s `India’s Most Stylish Homes’
will be judged on various parameters including Space Utilization, Aesthetics
and Innovation. Winners from each of the 106 Big Bazaar stores, areas and
cities will be announced separately. The Eminent Jury Panel will comprise
renowned Interior decorators’ and the top management of Big Bazaar. All of city
and store winners will compete to be the National winner who will be chosen by
Ram Kapoor and Sakshi Tanwar. The contest begins from December 22nd at all Big
Bazaar outlets and will conclude by January 1st 2013.
ABOUT BIG BAZAAR:
Big Bazaar is the
flagship hypermarket retail chain from Future Group, having 163 stores across the
country. With its motto of “Naye India ka bazaar”, Big Bazaar ensures that all
the products are of good quality and offered at the lowest prices. Promising
'more for less', Big Bazaar, offers 1.6-lakh mass-market product ranges that
are sought
by a majority of
Indian consumers. It also offers a host of value-added services. The special
discounts and promotional offers, which are available at regular intervals,
make the format very unique and distinct. The consumer experiences a new level
of standard in price, convenience, comfort, quality and store service levels.
ABOUT FUTURE
GROUP:
Future Group is
among India’s leading business houses with multiple businesses spanning across
the consumption space. The group operates some of India’s leading retail chains
like Pantaloons, Big Bazaar, Food Bazaar, Central, Home Town and eZone and also
has allied businesses in life and non-life insurance, logistics infrastructure
and supply chain and brand and IPR development. The group operates around 16.5
million square feet of retail space in over 90 cities and towns and 60 rural
locations across India. The group’s retail formats connect over 300 million
customers to over 30,000 small, medium and large enterprises that supply
products and services to its retail chains. Future Group believes in developing
strong insights on Indian consumers and building businesses based on Indian
ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s
corporate credo is, ‘Rewrite rules, Retain values.’
BIG BAZAAR REDEFINES THE CONCEPT OF CUSTOMER SERVICE
FEBRUARY 23, 2012
Bengaluru, February 23, 2012: Big Bazaar, the hypermarket retail chain of Future Group, launched the new Rajajinagar Family Centre outlet with a format that promises to revolutionize the history of Indian retail. Focusing on its unique service offering ‘Seva’, the Rajajinagar outlet will redefine the way customers shop henceforth.
Radiating ‘Seva’ warmth to all its customers, the new Big Bazaar format will be seen offering services that will redefine the time spent in Indian kitchens henceforth. Not only will the new Big Bazaar store offer customer services that are unique and exemplary, but will also be focusing on going back to our traditional roots.
A few of the sevas that will be on offer are free cutting and dicing of vegetables purchased, in different styles, according to specifics mentioned by the customer. For those who enjoy healthy multi grain rotis, customers have the option of choosing the grains that go into their roti doughs. The grains will not only be ground and made into doughs, but will also be made into fresh, hot and healthy rotis by the Seva staff (Sevaks) at Big Bazaar. Also available at the new Big Bazaar store will be a Bangalore One Counter that will offer a bouquet of services. Offering a multitude of such services, the new Big Bazaar format stands to be a forerunner in the race of future outstanding retail customer servicing in the country.
Mr. Venkateshwar Kumar, Head- South, Big Bazaar, says, “We are pleased to announce the launch of our new ‘Seva’ initiative through our Rajajinagar Big Bazaar store. This will be the first Big Bazaar store in India with the new format. The initiative focuses on the needs of our customers where we at Big Bazaar will strive to make them truly feel like a King. This initiative will be a first for the organized retailing sector in India.”
ABOUT FUTURE GROUP
Big Bazaar is part of the retail network of Future Group. Future Group operates
some of India’s most popular retail chains including Pantaloons, Central, Big
Bazaar, Food Bazaar, Home Town and eZone and also has allied businesses in
consumer finance, life and non-life insurance, logistics infrastructure and
supply chain and brand development. The group operates over 17 million square
feet of retail space in over 90 cities and towns and 60 rural locations across
India. The group’s retail formats connect over 300 million customers to over
30,000 small, medium and large enterprises that supply products and services to
its retail chains. Future Group believes in developing strong insights on
Indian consumers and building businesses based on Indian ideas, as espoused in
the group’s core value of ‘Indianness.’ The group’s corporate credo is,
‘Rewrite rules, Retain values.
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] 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.55.52 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.