MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MADURA GARMENTS LIFESTYLE RETAIL COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Indian Rayon Compound, Veraval – 362266, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.05.2007 |
|
|
|
|
Com. Reg. No.: |
04-058604 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1088.889 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
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of Aditya Birla Nuvo Limited (ABNL). It
is an established company having a satisfactory track record. The company is improving its performance and has wiped off its
accumulated losses by infusing funds through reserves. Profit margin appears
to be decent. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. In view of strong holding company, the subject 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.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy that
is struggling to transition from an investment-driven export-oriented economy
to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
NCDs : “AA+” (Structured Obligation) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
August 2013 |
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 DENIED BY
|
Name : |
Mr. Mohna Sundaram |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-80-67881000 |
|
Date : |
29.08.2013 |
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 |
|
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 15.07.2013
|
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 |
|
Qualification : |
BA |
|
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 : |
PGDM |
|
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 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment: |
20.07.2009 |
|
DIN No.: |
00060017 |
|
|
|
|
Name : |
Mr. Devendra Bhandari |
|
Designation : |
Director |
|
Address: |
A1601, Muktangan Upper Govind Nagar, Kailash Puri Road, Malad (East), Mumbai, Maharashtra, India |
|
Date of Birth/ Age: |
31.07.1953 |
|
Qualification : |
Company Secretary |
|
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 |
|
|
|
|
|
|
|
|
|
|
Name : |
Mr. Mohana Sundaram G |
|
Designation : |
Secretary |
|
Address: |
# 382, MSR Nagar, Bangalore-560054, Karnataka, India |
|
Qualification : |
17.10.1967 |
|
Date of Appointment : |
15.10.2008 |
|
Pan No.: |
AMIPS5440E |
|
|
|
|
Name : |
Mr. R Sathyajit |
|
Designation : |
Chief Operating Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.07.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Aditya Birla Nuvo Limited, India |
98838890 |
|
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 |
049994 |
|
Total |
98888890 |
|
Names of Preference Shareholders |
No. of Shares |
|
Aditya Birla Nuvo Limited, India |
10000000 |
|
Total |
10000000 |
As on 15.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Apparel Accessories. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
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||||||||||||||||||||||||
|
Bankers : |
HDFC
Bank Limited, Municipal No. 8/24, Richmond Road, Corpn Div 61, Bangalore –
560025, Karnataka, India |
||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||
|
Facilities : |
NOTE: SHORT TERMS
BORROWINGS Working Capital borrowings are secured by Second charge by way of hypothecation of Company's entire Current assets including stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables, book debts, bills whether documentary or clean, outstanding monies, receivables, both present and future and also Corporate Guarantee issued by the Holding Company Aditya Birla Nuvo Limited. |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Axis Trustee Services Limited, Axis House,Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
|
|
|
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 (ABNL) CIN No.: L17199GJ1956PLC001107 |
|
|
|
|
Fellow Subsidiaries
: |
· Aditya Birla Finance Limited (ABFL) (100% Subsidiary of ABFSPL) CIN No.: U65990GJ1991PLC064603 ABNL
Investment Limited (ABNLInv)(100% Subsdiary of ABNL ) CIN No.: U65910GJ1994PLC022685 Aditya
Birla Housing Finance Ltd. (ABHFL) (100.00% Subsdiary of ABFSPL) (earlier
known as LIL Investment Limited) CIN No.: U65922MH2009PLC194378 Birla
Sun Life Insurance Company Limited (BSLICL)(74% Subsdiary) Aditya
Birla Minacs Worldwide Limited (ABMWL) (99.85% Subsdiary of ABNLIT and ITES) CIN No.: U99999KA1995PLC052040 Aditya
Birla Customer Services Private Limited (ABCSPL) (100% Subsidiary of ABFSPL) CIN No.: U93000MH2008PTC186669 Pantaloons
Fashion and Retail Limited . (PFRL) (100% Subsdiary of ITSL ) CIN No.: U18101MH2007PLC233901 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
10000000 |
Preference Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98888890 |
Equity Shares |
Rs.10/- each |
Rs. 988.889 Millions |
|
10000000 |
Preference Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1088.889
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1088.889 |
200.000 |
200.000 |
|
(b) Reserves & Surplus |
487.116 |
(1596.804) |
(1339.174) |
|
(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) |
1576.005 |
(1396.804) |
(1139.174) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3200.000 |
4704.000 |
3581.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
159.539 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
3359.539 |
4704.000 |
3581.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2.169 |
4.419 |
54.347 |
|
(b) Trade payables |
534.855 |
246.457 |
137.740 |
|
(c) Other current
liabilities |
74.038 |
41.305 |
159.121 |
|
(d) Short-term provisions |
9.045 |
4.607 |
2.621 |
|
Total Current Liabilities (4) |
620.107 |
296.788 |
353.829 |
|
|
|
|
|
|
TOTAL |
5555.651 |
3603.984 |
2795.655 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
149.802 |
171.367 |
244.853 |
|
(ii) Intangible Assets |
1.597 |
4.424 |
7.245 |
|
(iii) Capital
work-in-progress |
97.853 |
22.334 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4250.000 |
3003.178 |
2253.177 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
91.981 |
81.031 |
58.813 |
|
(e) Other Non-current assets |
4.017 |
3.932 |
3.882 |
|
Total Non-Current Assets |
4595.250 |
3286.266 |
2567.970 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
785.256 |
205.726 |
136.941 |
|
(c) Trade receivables |
6.915 |
21.773 |
19.271 |
|
(d) Cash and cash
equivalents |
44.501 |
12.857 |
0.854 |
|
(e) Short-term loans
and advances |
120.036 |
76.402 |
66.911 |
|
(f) Other current
assets |
3.693 |
0.960 |
3.708 |
|
Total Current Assets |
960.401 |
317.718 |
227.685 |
|
|
|
|
|
|
TOTAL |
5555.651 |
3603.984 |
2795.655 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Revenue |
2537.269 |
600.004 |
461.944 |
|
|
|
Other Income |
46.243 |
12.770 |
163.209 |
|
|
|
TOTAL (A) |
2583.512 |
612.774 |
625.153 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in Trade |
2181.456 |
463.803 |
348.272 |
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock
in Trade |
(579.530) |
(68.785) |
(10.355) |
|
|
|
Employee Benefits Expenses |
107.071 |
74.704 |
104.710 |
|
|
|
Other Expenses |
658.735 |
272.183 |
256.415 |
|
|
|
TOTAL (B) |
2367.732 |
741.905 |
699.042 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
215.780 |
(129.131) |
(73.889) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.101 |
39.983 |
176.758 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
210.679 |
(169.114) |
(250.647) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION (F) |
76.146 |
88.516 |
124.812 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
134.533 |
(257.630) |
(375.459) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
134.533 |
(257.630) |
(375.459) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1596.804) |
(1339.174) |
(963.715) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
134.533 |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1596.804) |
(1596.804) |
(1339.174) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Inventory Purchase |
258.718 |
167.344 |
72.788 |
|
|
|
Capital goods Purchase |
19.131 |
0.163 |
12.414 |
|
|
|
Cost of Production testing |
0.245 |
0.095 |
0.131 |
|
|
TOTAL IMPORTS |
278.094 |
167.602 |
85.333 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.24 |
(26.70) |
(38.48) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.21
|
(42.04) |
(60.06) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.30
|
(42.94) |
(81.28) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.14
|
(44.54) |
(69.21) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.18 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.03
|
(3.37) |
(3.19) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.07 |
0.64 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
200.000 |
200.000 |
1088.889 |
|
Reserves & Surplus |
(1339.174) |
(1596.804) |
487.116 |
|
Net
worth |
(1139.174) |
(1396.804) |
1576.005 |
|
|
|
|
|
|
long-term borrowings |
3581.000 |
4704.000 |
3200.000 |
|
Short term borrowings |
54.347 |
4.419 |
2.169 |
|
Total
borrowings |
3635.347 |
4708.419 |
3202.169 |
|
Debt/Equity
ratio |
(3.191) |
(3.371) |
2.032 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
461.944 |
600.004 |
2537.269 |
|
|
|
29.887 |
322.875 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
461.944 |
600.004 |
2537.269 |
|
Profit |
(375.459) |
(257.630) |
134.533 |
|
|
(81.28%) |
(42.94%) |
5.30% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
NA |
0.000 |
125.000 |
|
|
|
|
|
|
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 |
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 |
Yes |
|
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 |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
200.000 |
3200.000 |
|
Deposit |
0.000 |
1504.000 |
|
|
|
|
|
Total |
200.000 |
4704.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10400758 |
26/09/2012 |
3,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE,WADIA
INTERNATIONAL CENTRE, PANDURANG |
B59088153 |
REVIEW OF PERFORMANCE
The Company expanded its network of stores and operated seven stores of The Collective in the financial year ended 31st March 2013. The Company also launched two Hackett Mono Brands stores during the above financial year.
During the current financial year the Company started operating and managing “Planet Fashion” Stores of Aditya Birla Nuvo Limited. The Company will be able to leverage its expertise in operating in retail sector.
The Collective stores continue to set benchmarks in retail experience, product offerings and visual merchandising.
PROSPECTS
With the expansion of retail stores network and launch of international mono branded stores the Company, with its portfolio of premium and super premium retail stores, is well positioned to be a major player in the super premium market.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
|
|
|
|
Arrears of Preference Dividend |
24.110 |
32.110 |
|
|
|
|
FIXED ASSETS
œ Buildings
œ
Plant
and Equipment
œ
Furniture
and Fixtures
œ
Vehicles
œ
Office
Equipment
œ
Computer
Equipments
PRESS RELEASE
MADURA GARMENTS' PREMIUM CHAIN TO DOUBLE STORES IN 18-24 MONTHS
Firm will invest Rs
50.00 millions per store; 8 outlets to come up in Chennai, Hyderabad, Kolkata,
NCR, Mumbai and Kochi
Chennai August
24, 2013
The Collective, the super-premium lifestyle retail chain of Aditya Birla Nuvo Group’s Madura Garments Lifestyle Retail Company (MGLRC), is planning to double its presence to 15 stores over the next 18-24 months. The company is launching its eighth store in the country, in Chennai.
“In 2008, we started the brand with a store in Bangalore. We are launching the
eight store in Chennai...On an average, the investment would be around Rs
50.000 millions per store,” said R Satyajit, COO – International Brands and
Businesses, MGLRC.
He said the company would be looking at launching the store in Hyderabad and
Kolkata, after Chennai. It would also open stores in Noida in National Capital
Region and one more in Mumbai. Besides, it would explore the possibility of
opening stores in smaller cities like Kochi. It has launched stores in Mumbai,
Delhi, Chandigarh and Pune.
The company has international brands like Hackett, Etiqueta Negra, Paul and
Shark, Robert Graham and Hugo Boss Green and bag brands in women’s accessories
range including Michael Kors, Lulu Guinness, Love Moschino, Ted Baker,
Coccinelle and others.
Apart from the international brands for men’s wear, accessories for men and
women, the company is also planning to showcase Indian designers’ collections,
in the stores, he added.
“Our business from the repeat customers is around 65 per cent today,” said
Satyajit, who added that the loyalty of the customer is important in the
success of the model.
MADURA GARMENTS PLANS CHAIN FOR WOMEN WEAR
Aug 27, 2013
Chennai : Buoyed by an impressive response to its menswear offering, ‘The Collective’, the super-premium retail concept/ chain store from Madura Garments of Aditya Birla Nuvo group is ready to explore womenswear in a big way. It is in talks with global vendors, such as dsquared, Ted Baker, Fred Perry, and other apparel majors to bring in a range of clothing line for women. ‘The Collective’ has not only decided to double the number of stores to 16 in next two years, but also plans to contribute at least 15% to the Rs,6000.000-millions Madura Garments in the same period with womenswear too, said R Satyajit, chief operating officer, international brands and new businesses, at Madura Garments Lifestyle Retail Company. Speaking to FE, he said: “The luxury products market in India is pegged at $5 billion in India and multi-brand apparel and related accessories hold 15%. The segment itself is growing 30% annually, which shows huge potential.”
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
27 November 2012
~ 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.
MADURA FASHION & LIFESTYLE ENTERS INTO JOINT VENTURE WITH HACKETT
LONDON
12 September 2012
Bangalore: Madura Fashion and Lifestyle (MFL) has announced a joint venture with Hackett London - the quintessential British men’s luxury clothing and accessories brand. This move comes as part of Hackett continuing its global expansion plans and marks MFL’s foray into the luxury mono brand business.
Mr. Ashish Dikshit, CEO, Madura Fashion and Lifestyle comments: “As part of our international brand strategy, we aim to launch select international brands within the Madura F&L portfolio. Our partnership with Hackett London clearly establishes our intent and we plan to bring in few more brands to India from around the globe. This is in line with our vision to strengthen our leadership position across various segments in the apparel industry.”
The quintessentially British brand Hackett has been flying the Union Jack high around the world for many years, so it is fitting that in this, a Jubilee year, HM Queen Elizabeth has honoured Hackett with a Queen's Award for Enterprise in International Trade. Hackett’s commercial success has been linked to the export of its very British take on things to countries around the world, which will now extend to India.
Mr Vicente Castellano, Managing Director of Hackett London said: “Hackett London has been expanding rapidly over the last few years as part of our ambition to become a global brand and we were proud to be awarded The Queen’s Award for Enterprise in recognition of this expansion. India, as one of the key growth economies of the world, has been on our radar for some time and now with our recently concluded joint venture with Madura, we have the right partner to tackle India successfully. Madura’s undoubted understanding of the Indian men’s fashion market combined with the appeal of Hackett London will enable us to build a strong business in India and bring our “Essentially British” world to the Indian consumer.”
The first store will open in Emporio Delhi in the second week of September followed immediately by another store opening in UB City, Bangalore. The third store slated for FY13 will open in SS13 in Chandigarh.
About Madura Fashion
and Lifestyle:
Madura Fashion and Lifestyle (MF&L) is one of India’s fastest growing branded apparel companies and a premium lifestyle player in the retail sector. MF&L’s portfolio includes product lines that range from affordable and mass-market to luxurious, high-end brands and caters to every age group, from children and youth to men and women. MF&L is defined by its world renowned brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England and People. These brands personify style, attitude, luxury and comfort. Planet Fashion, the multi-brand, apparel-retailing arm of MFL, retails not only the company's brands but also other leading brands in apparel. Apart from its own premium brands, the company has a distribution agreement with Esprit, one of the leading premium lifestyle brands in Europe. MF&L also manages retailing of luxury brands through a multi-brand format called ‘The Collective’. MF&L reaches its discerning customers through an extensive network comprising more than 1,000 exclusive and franchise stores occupying more than 1 million sq ft of retail space. It has a strong presence in over 1,500 multi-brand outlets and over 300 shop-in-shops in over 125 department stores across the country.
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.61.34 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
|
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.