|
Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
HYPERCITY RETAIL (INDIA) LIMITED (w.e.f. 30.03.2007) |
|
|
|
|
Formerly Known
As : |
HYPERCITY RETAIL (INDIA) PRIVATE LIMITED (w.e.f. 04.03.2005) RAINBOW RETAIL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. C-30, Block ‘G’, Opposite SIDBI, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.05.2004 |
|
|
|
|
Com. Reg. No.: |
11-146577 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4610.873
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52510MH2004PLC146577 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MIUMR16595F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR8461K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company mainly operates in Retail Operations i.e. Trading of Food
Products, Household Items and Apparels. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 370000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Shopper stop Limited”. It is a well established company having a moderate track record. There
appears huge accumulated losses recorded by the company. The external borrowing
seems to be huge which act as a threat to the liquidity of the company. However, the company gets strong support from its holding companies.
The promoters seem to be well experience businessman. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities: BBB+ |
|
Rating Explanation |
Having moderate degree of safety regarding timely
servicing of financial obligation, it carry moderate credit risk. |
|
Date |
December, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management non-cooperative
Contact No.: 91-22-40695555/26002177
LOCATIONS
|
Registered Office : |
Plot No. C-30, Block ‘G’, Opposite SIDBI, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-26564000/ 26002177 |
|
Fax No.: |
91-22-26564909 |
|
E-Mail : |
prashant.mehta@shppersstop.com
rohit.mistry@hypercityindia.com
|
|
Website : |
|
|
Area : |
1000 Sq ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office 1 : |
“Paradigm”, A Wing, 1st Floor, Mindspace, |
|
Tel. No.: |
91-22-40695555 |
|
Fax No.: |
91-22-40032120 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office 2 : |
Eureka Towers, C Wing, Mindspace, Malad (West), Mumbai, Maharashtra,
India |
|
|
|
|
Retail Stores : |
Located at: ·
Mumbai ·
Thane ·
Jaipur ·
·
·
·
·
|
DIRECTORS
As on: 30.07.2012
|
Name : |
Mr. Chandru Lachmandas Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House 53, A Pali Hill, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
12.10.1940 |
|
Qualification : |
L.L.B |
|
Date of Appointment : |
27.05.2004 |
|
PAN No.: |
AAAPR5867Q |
|
DIN No.: |
00027979 |
|
|
|
|
Name : |
Mr. Ravi Chandru Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House 53, A Pali Hill, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
23.09.1971 |
|
Qualification : |
B.Com and M.B.A |
|
Date of Appointment : |
27.05.2001 |
|
PAN No.: |
AADPR5769A |
|
DIN No.: |
00028044 |
|
|
|
|
Name : |
Mr. Neel Chandru Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House 53, A Pali Hill, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
27.06.1974 |
|
Qualification : |
M.com and L.L.B |
|
Date of Appointment : |
27.05.2004 |
|
PAN No.: |
AAAPR5866R |
|
DIN No.: |
00029010 |
|
|
|
|
Name : |
Mr. Nagesh Satyanarayan Basavanhalli |
|
Designation : |
Vice Chairman |
|
Address : |
Park Plaza, 81 and 82, 8th Floor, B-Wing, New Yari
Road, Versova, Andheri (West), Mumbai –
400 061, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1959 |
|
Qualification : |
Masters Management Studies |
|
Date of Appointment : |
23.05.2005 |
|
PAN No.: |
AAEPB0301K |
|
DIN No.: |
00027595 |
|
|
|
|
Name : |
Mr. Deepak Keshav Ghaisas |
|
Designation : |
Director |
|
Address : |
B/61-62, Swapnashilp, Mahant Road, Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
|
Date of Birth/Age : |
19.11.1957 |
|
Qualification : |
B.Com, A.C.A, A.I.C.W.A, F.C.S |
|
Date of Appointment : |
04.08.2010 |
|
PAN No.: |
AABPG9317P |
|
DIN No.: |
00001811 |
|
|
|
|
Name : |
Mr. Nitin Jagubhai Sanghavi |
|
Designation : |
Director |
|
Address : |
15, Sunningdale Avenue, Leeds 17, London LS177SD, United Kingdom |
|
Date of Birth/Age : |
28.12.1948 |
|
Qualification : |
B.SC (Hons), Msc, PHD, D.M.S.C, F.R.S.A |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
00863107 |
|
|
|
|
Name : |
Mr. Govind Shridhar Shrikhande |
|
Designation : |
Director |
|
Address : |
Flat No. 1801, 18th Floor, Brooke Villa, Mughal Lane,
Matunga (West), Mumbai – 400 016, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1960 |
|
Qualification : |
Graduate-Textiles and M.B.A |
|
Date of Appointment : |
25.07.2011 |
|
PAN No.: |
AMTPS0849J |
|
DIN No.: |
00029419 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat Kanaklal Sanghavi |
|
Designation : |
Company Secretary and Manager |
|
Address : |
202, Bhoomi Garden, Mahavir Nagar, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
Date of Birth/Age : |
05.04.1971 |
|
Date of Appointment : |
01.09.2010 |
|
PAN No.: |
APRPS4260C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.07.2012
|
Names of Shareholders |
|
No. of Equity
Shares |
|
|
|
|
|
Support Properties Private Limited jointly with Anbee Construction
Private Limited, |
|
1 |
|
Support Properties Private Limited jointly with Cape Trading Private
Limited, |
|
1 |
|
Support Properties Private Limited jointly with Capstan Trading
Private Limited, |
|
1 |
|
Support Properties Private Limited jointly with Casa Maria Properties
Private Limited, |
|
1 |
|
Support Properties Private Limited jointly with Palm Shelter Estate
Development Private Limited, |
|
1 |
|
Shopper’s Stop Limited, |
|
484500 |
|
Support Properties Private Limited, |
|
227995 |
|
Eternus Logistics Private Limited, |
|
228000 |
|
Palm Shelter Estate Development Private Limited , |
|
950 |
|
Anbee Construction Private Limited, |
|
950 |
|
Cape Trading Private Limited, |
|
950 |
|
Capstan Trading Private Limited, |
|
950 |
|
Casa Maria Properties Private Limited, |
|
950 |
|
Raghukool Estate Development Private Limited, |
|
950 |
|
|
|
950 |
|
Chandru Lachmandas Raheja |
|
950 |
|
Jyoti Chandru Raheja |
|
950 |
|
Neel Chandru Raheja |
|
950 |
|
|
|
|
|
Total |
|
950000 |
As on: 30.07.2012
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Casa Maria Properties Private Limited, India |
|
279000 |
|
Raghukool Estate Development Private Limited, India |
|
279000 |
|
Capstan Trading Private Limited, India |
|
279000 |
|
Palm Shelter Estate Development Private Limited, India |
|
279000 |
|
Anbee Constructions Private Limited, India |
|
279000 |
|
Cape Trading Private Limited, India |
|
279000 |
|
Chandru L Raheja |
|
279000 |
|
Jyoti C Raheja |
|
279000 |
|
Ravi C Raheja |
|
279000 |
|
Neel C Raheja |
|
279000 |
|
Shopper’s Stop Limited, India |
|
199990000 |
|
K Raheja Corp Private Limited |
|
55437255 |
|
Support Properties Private Limited, India |
|
66960000 |
|
Eternus Logistics Private Limited, India |
|
66960000 |
|
|
|
|
|
Total |
|
392137255 |
(AS ON 27.12.2012)
|
Names of Allottees (Preference
Shares) |
|
No. of Shares
Allotted |
|
|
|
|
|
Shopper’s Stop Limited, India |
|
11730000 |
|
K Raheja Corp Private Limited, India |
|
11270000 |
|
|
|
|
|
Total |
|
23000000 |
(AS ON 28.06.2013)
|
Names of Allottees (Preference
Shares) |
|
No. of Shares
Allotted |
|
|
|
|
|
Shopper’s Stop Limited, India |
|
10200000 |
|
Genext Hardware and Parks Private Limited, India |
|
9800000 |
|
|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.07.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.60 |
|
Directors or relatives of directors |
|
0.40 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company mainly operates in Retail Operations i.e. Trading of Food Products,
Household Items and Apparels. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th - 32nd Floor, Indiabulls Finance Centre, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
·
Shoppers Stop Limited CIN No.: L51900MH1997PLC108798 |
|
|
|
|
Fellow Subsidiaries : |
·
Crossword Bookstores Limited CIN No.: U52396MH1999PLC122528
CIN No.: U52100MH2007PLC170243 |
|
|
|
|
Companies under common control/ Significant influence : |
CIN
No.: U70100MH2002PTC137766
CIN
No.: U70100MH1982PTC026374
CIN
No.: U45200MH1999PTC117748
CIN
No.: U45200MH2005PTC157367
CIN
No.: U45200MH1973PTC017018
CIN No.: U60232KA2005PTC054207 |
|
|
|
|
Joint Venture : |
CIN
No.: U52100MH2007PLC170243 |
CAPITAL STRUCTURE
As on: 30.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
405000000 |
Preference Shares |
Rs.10/- each |
Rs.4050.000 Millions |
|
|
Total |
|
Rs.4100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500
Millions |
|
392137255 |
Preference Shares |
Rs.10/- each |
Rs.3921.373
Millions |
|
|
Total |
|
Rs.3930.873 Millions |
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
405000000 |
Preference Shares |
Rs.10/- each |
Rs.4050.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4100.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500
Millions |
|
460137300 |
Preference Shares |
Rs.10/- each |
Rs. 4601.373
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4610.873 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4610.873 |
3720.873 |
2799.500 |
|
(b) Reserves & Surplus |
(4517.583) |
(3640.266) |
(2753.879) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
93.290 |
80.607 |
45.621 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1372.500 |
1447.499 |
1472.788 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
4.149 |
|
Total Non-current
Liabilities (3) |
1372.500 |
1447.499 |
1476.937 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
979.310 |
917.978 |
636.636 |
|
(b) Trade payables |
690.106 |
594.654 |
461.639 |
|
(c) Other current liabilities |
210.276 |
258.914 |
292.147 |
|
(d) Short-term provisions |
7.960 |
5.169 |
2.724 |
|
Total Current
Liabilities (4) |
1887.652 |
1776.715 |
1393.146 |
|
|
|
|
|
|
TOTAL |
3353.442 |
3304.821 |
2915.704 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1494.678 |
1597.459 |
1408.648 |
|
(ii) Intangible Assets |
80.391 |
77.743 |
37.223 |
|
(iii) Capital work-in-progress |
41.850 |
11.283 |
54.603 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
26.748 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
474.135 |
431.812 |
387.874 |
|
(e) Other Non-current assets |
12.998 |
33.697 |
0.000 |
|
Total Non-Current
Assets |
2104.052 |
2151.994 |
1915.096 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
982.287 |
923.013 |
707.749 |
|
(c) Trade receivables |
74.094 |
33.687 |
57.775 |
|
(d) Cash and cash equivalents |
74.633 |
37.535 |
92.107 |
|
(e) Short-term loans and advances |
94.676 |
137.410 |
78.498 |
|
(f) Other current assets |
23.700 |
21.182 |
64.479 |
|
Total Current Assets |
1249.390 |
1152.827 |
1000.608 |
|
|
|
|
|
|
TOTAL |
3353.442 |
3304.821 |
2915.704 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
7802.302 |
7220.507 |
5671.569 |
|
|
|
Other Income |
19.361 |
30.697 |
36.365 |
|
|
|
TOTAL (A) |
7821.663 |
7251.204 |
5707.934 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
6122.407 |
5931.689 |
4664.279 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(59.274) |
(215.264) |
(165.097) |
|
|
|
Employee benefit expense |
604.994 |
577.213 |
446.069 |
|
|
|
Other expenses |
1489.089 |
1362.925 |
1048.549 |
|
|
|
TOTAL (B) |
8157.216 |
7656.563 |
5993.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(335.553) |
(405.359) |
(285.866) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
328.110 |
320.258 |
273.638 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(663.663) |
(725.617) |
(559.504) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
213.654 |
160.770 |
126.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(877.317) |
(886.387) |
(686.106) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(877.317) |
(886.387) |
(686.106) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3640.266) |
(2753.879) |
(2067.773) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(4517.583) |
(3640.266) |
(2753.879) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Foreign currency and foreign credit Card collection on sale of
merchandise |
113.380 |
112.927 |
97.329 |
|
|
TOTAL EARNINGS |
113.380 |
112.927 |
97.329 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Merchandise |
155.181 |
111.211 |
87.189 |
|
|
|
Capital Goods |
1.452 |
2.197 |
8.226 |
|
|
|
Software |
2.083 |
1.223 |
2.755 |
|
|
TOTAL IMPORTS |
158.716 |
114.631 |
98.170 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1269.24) |
(1201.94) |
(925.89) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(11.21) |
(12.22) |
(12.02) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.25) |
(12.28) |
(12.10) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(26.49) |
(26.91) |
(24.21) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(9.41) |
(10.99) |
(15.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
25.21 |
29.35 |
46.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.65 |
0.71 |
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 |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
50.000 |
130.000 |
176.668 |
|
|
|
|
|
|
Total |
50.000 |
130.000 |
176.668 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advance from related parties |
835.000 |
860.000 |
|
|
|
|
|
Total |
835.000 |
860.000 |
NOTE: The Registered Office of the company has been shifted
from Construction House, ‘A’ 24th Road, Khar (West), Mumbai -
400052, Maharashtra, India to the present address w.e.f. 08.07.2008.
CASE
DETAILS
Bench
– Bombay
|
Stamp No.: |
CRAST/11011/2013 |
Filing
Date: |
08.04.2013 |
|
|
|
|
|
|
Petitioner: |
Mahindra Logistics Limited |
Respondent: |
Hypercity Retail (India) Limited |
|
Petn. Adv.: |
NG and Partners |
|
|
|
District : |
Mumbai |
|
|
|
|
|
|
|
|
Bench: |
Single |
Stage: |
-- |
|
Status: |
Pre-Admission |
|
|
|
Next Date: |
15.04.2013 |
|
|
|
Coram: |
Registrar (Judicial) |
|
|
|
|
|
|
|
|
Act: |
Code of Civil Procedure 1908 |
|
|
COMPANY BACKGROUND
The company was
incorporated on May 27, 2004 as a Private Limited Company. The Company became a
Public Limited Company on March 30, 2007. The Company is engaged in the
business of retailing mainly food and grocery, health and beauty products,
fruits and vegetables, home ware and homecare products, furniture, appliances,
multimedia, sports, toys and readymade garments. The Company has recently made
a foray into the Real Estate business. As at 31 March 2012, the Company
operated through 12 Hypercity stores located in different cities of India.
PERFORMANCE REVIEW
During the year, the total revenues (net of taxes) of the Company was Rs.7589.300 millions (previous year Rs. 7070.265 millions), registering a growth of 7.3 %, year on year basis.
The Company has operated 12 stores for full year and has got same store sales growth of 4.5% over the preceding year.
Gross Margin was at 20.9% (against 20.7% Previous year*). Like to Like Opex growth (excluding rentals) was 0.4% and SOH income grew by 30% on Like to Like basis.
The above helped the Company achieve positive chain level Store EBIDTA for 7 consecutive quarters. Store EBIDTA for the FY12-13 is at Rs 42.800 Millions (previous year Rs (3.800) millions). LTL Store EBIDTA was Rs. 101.900 millions (previous year Rs 37.500 millions)
The Company added 0.275 million Discovery club members during the year and total member base increased to 0.659 million. Discovery club contributed 56% to overall sales mix.
During the year company transferred low margin Mobile business to 3 rd party operator and also right sized Amritsar store by reducing the chargeable area from 141k sq. ft to 62k sq. ft.
* Previous year numbers are adjusted for Mobile business transferred to 3rd party operator.
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10436453 |
03/07/2013 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B79447595 |
|
2 |
10348733 |
17/10/2012 * |
500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B60330594 |
|
3 |
10310399 |
26/12/2011 * |
750,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B30294359 |
|
4 |
10230974 |
09/04/2012 * |
500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B37003878 |
|
5 |
10007721 |
08/11/2012 * |
450,000,000.00 |
IDBI BANK LIMITED |
47, Opus Centre, Opp. Tunga Paradise, Central Road, MIDC, Andheri (East), MUMBAI, Maharashtra - 400093, INDIA |
B61711123 |
|
6 |
10027473 |
10/12/2010 * |
200,000,000.00 |
INDIAN OVERSEAS BANK |
BANDRA (WEST) BRANCH, RADHASWAMI APARTMENTS, 36TH TPS III, MUMBAI, Maharashtra - 400050, INDIA |
B02504520 |
* Date of charge modification
FIXED ASSETS:
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Other equipments
·
Computer
·
Leasehold Improvements
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. 62.24 |
|
|
1 |
Rs. 99.90 |
|
Euro |
1 |
Rs. 84.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.