MIRA
INFORM REPORT
|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
AVENUE SUPERMARTS LIMITED |
|
|
|
|
Formerly Known
As : |
AVENUE SUPERMARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Anjaneya CHS Limited, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.05.2000 |
|
|
|
|
Com. Reg. No.: |
11-126473 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5440.588
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2000PLC126473 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA8432H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of organized retail and
operates supermarkets. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects ASL’s strong business risk profile marked by its
established position in the organized retail market and adequate liquidity
position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 that 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 |
CRISIL |
|
Rating |
Long term rating = AA- |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
July 25, 2014 |
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Amar Manhas |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-30100121 |
|
Date : |
26.08.2014 |
LOCATIONS
|
Registered Office : |
Anjaneya CHS Limited, Orchard Avenue, Opposite Hiranandani Foundation School,
Powai, Mumbai – 400076, Maharashtra, India |
|
Tel. No.: |
91-22-40496501/ 30100121 |
|
Fax No.: |
91-22-40496503 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Ignatius Navil Noronha |
|
Designation : |
Managing director |
|
Address : |
D-102, Golden Square, Near MHB Colony, Sunder Nagar, Next to Kalina
University, Santacruz [West], Mumbai – 400098, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1974 |
|
Qualification : |
Masters in Marketing Management |
|
Date of Appointment : |
02.01.2006 |
|
PAN No.: |
ABVPN9447Q |
|
DIN No.: |
01787989 |
|
|
|
|
Name : |
Mr. Ramakant Baheti |
|
Designation : |
Director |
|
Address : |
A/501, Hercules Vasant Galaxy, Bangur Nagar, Goregaon [West], Mumbai –
400090, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1973 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
02.01.2006 |
|
PAN No.: |
AAEPB4932E |
|
DIN No.: |
00246480 |
|
|
|
|
Name : |
Mr. Ramesh Shrichand Damani |
|
Designation : |
Director |
|
Address : |
Sunshine, 6th Floor, 156, M. Karve Road, Mantralaya, Mumbai
– 400020, Maharashtra, India |
|
Date of Birth/Age : |
12.05.1957 |
|
Date of Appointment : |
09.09.2009 |
|
DIN No.: |
00304347 |
|
|
|
|
Name : |
Mrs. Manjri Aditya Chandak |
|
Designation : |
Director |
|
Address : |
C 501/602, Vastu Apartment, Near Devanand Bungalow, Juhu [West],
Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1985 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
03503615 |
KEY EXECUTIVES
|
Name : |
Mr. Amar Manhas |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Ashu Gupta |
|
Designation : |
Secretary |
|
Address : |
16, Divakar Naval Officers, Flats Sassoon Complex, Colaba, Mumbai –
400005, Maharashtra, India |
|
Date of Birth/Age : |
05.01.1975 |
|
Date of Appointment : |
03.07.2007 |
|
PAN No.: |
AKEPG6148D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
16.27 |
|
Directors
or relatives of directors |
80.51 |
|
Other
top fifty shareholders |
1.43 |
|
Others
|
1.79 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of organized retail and
operates supermarkets. |
|
|
|
|
Brand Name : |
“D-Mart” |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
· Citibank N. A. Citi Tower, 1st Floor, 61, Dr. S. S. Rao Road, Parel, Mumbai - 400012, Maharashtra, India · HDFC Bank Limited HDFC Bank House Senapati Bapat, Lower Parel [West], Mumbai - 400013,
Maharashtra, India · ING Vysya Bank Limited Mittal Towers, A-Wing, Ground Floor, 210 Nariman Point, Mumbai -
400021, Maharashtra, India · Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021,
Maharashtra, India · Axis Bank Limited Axis House, Corporate Banking Branch, Ground Floor, P.B. Marg, Worli,
Mumbai – 400025, Maharashtra, India · ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Shah Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFN4217G |
|
|
|
|
Associate : |
Nahar Seth and Jogani Associates |
|
|
|
|
Subsidiary company
: |
· Avenue Food Plaza Private Limited [U55200MH2004PTC146827] Align Retail Trades Private Limited
[U52190MH2006PTC164826] |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs. 7500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 5467.529
Millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 7500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
545,553,945 |
Equity Shares |
Rs. 10/- each |
Rs. 5455.539
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 7500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
544,058,845 |
Equity Shares |
Rs. 10/- each |
Rs. 5440.588
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 |
5440.588 |
5335.393 |
5058.500 |
|
(b) Reserves & Surplus |
2419.791 |
1460.857 |
785.990 |
|
(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) |
7860.379 |
6796.250 |
5844.490 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3711.622 |
2643.194 |
1920.325 |
|
(b) Deferred tax liabilities (Net) |
200.267 |
129.904 |
106.052 |
|
(c) Other long
term liabilities |
149.560 |
113.394 |
126.163 |
|
(d) long-term
provisions |
0.000 |
14.586 |
9.725 |
|
Total Non-current
Liabilities (3) |
4061.449 |
2901.078 |
2162.265 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
610.419 |
633.333 |
750.000 |
|
(b)
Trade payables |
971.957 |
642.441 |
465.584 |
|
(c)
Other current liabilities |
1315.230 |
853.062 |
507.376 |
|
(d) Short-term
provisions |
84.550 |
44.817 |
32.100 |
|
Total Current Liabilities
(4) |
2982.156 |
2173.653 |
1755.060 |
|
|
|
|
|
|
TOTAL |
14903.984 |
11870.981 |
9761.815 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
9351.533 |
7907.487 |
6176.945 |
|
(ii)
Intangible Assets |
30.837 |
17.740 |
15.883 |
|
(iii)
Capital work-in-progress |
1073.593 |
741.877 |
830.954 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
42.128 |
22.205 |
22.205 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
799.578 |
552.674 |
535.424 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
11297.669 |
9241.983 |
7581.411 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.120 |
80.120 |
629.538 |
|
(b)
Inventories |
2578.135 |
1852.649 |
1179.117 |
|
(c)
Trade receivables |
131.151 |
44.800 |
15.652 |
|
(d) Cash
and cash equivalents |
588.968 |
446.529 |
160.239 |
|
(e)
Short-term loans and advances |
290.060 |
178.820 |
186.717 |
|
(f)
Other current assets |
17.881 |
26.080 |
9.141 |
|
Total
Current Assets |
3606.315 |
2628.998 |
2180.404 |
|
|
|
|
|
|
TOTAL |
14903.984 |
11870.981 |
9761.815 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
33346.182 |
22026.010 |
16887.078 |
|
|
|
Other Income |
164.491 |
154.965 |
131.543 |
|
|
|
TOTAL (A) |
33510.673 |
22180.975 |
17018.621 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
29402.407 |
19566.793 |
14047.253 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(725.486) |
(673.532) |
(461.455) |
|
|
|
Employees benefits expense |
674.989 |
447.390 |
268.344 |
|
|
|
Other expenses |
1889.567 |
1337.091 |
2071.826 |
|
|
|
TOTAL (B) |
31241.477 |
20677.742 |
15925.968 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2269.196 |
1503.233 |
1092.653 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
424.075 |
260.200 |
192.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1845.121 |
1243.033 |
900.373 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
455.554 |
374.149 |
295.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1389.567 |
868.884 |
604.882 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
465.378 |
277.085 |
191.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
924.189 |
591.799 |
413.509 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
124.823 |
0.000 |
0.000 |
|
|
|
Capital Goods |
13.428 |
27.497 |
30.678 |
|
|
TOTAL IMPORTS |
138.251 |
27.497 |
30.678 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.72 |
1.17 |
1.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.76 |
2.67 |
2.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.17 |
3.94 |
3.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.08 |
7.82 |
6.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.13 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.55 |
0.48 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.21 |
1.24 |
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 |
5058.500 |
5335.393 |
5440.588 |
|
Reserves & Surplus |
785.990 |
1460.857 |
2419.791 |
|
Net
worth |
5844.490 |
6796.250 |
7860.379 |
|
|
|
|
|
|
long-term borrowings |
1920.325 |
2643.194 |
3711.622 |
|
Short term borrowings |
750.000 |
633.333 |
610.419 |
|
Total
borrowings |
2670.325 |
3276.527 |
4322.041 |
|
Debt/Equity ratio |
0.457 |
0.482 |
0.550 |
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 |
16887.078 |
22026.010 |
33346.182 |
|
|
|
30.431 |
51.395 |
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 |
16887.078 |
22026.010 |
33346.182 |
|
Profit |
413.509 |
591.799 |
924.189 |
|
|
2.45% |
2.69% |
2.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
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 |
925.363 |
530.238 |
316.525 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
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 |
LITIGATION
DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 23.07.2014 |
|
Lodging No: NMAL/1684/2014 Filing Date:
23.07.2014 Reg. No.: NMA/1044/2014 Reg. Date: 14.08.2014 |
|
Main Matter Lodging No: APPL/454/2014
Reg. No.: APP/347/2014 |
|
Petitioner: SUMER BUILDERS PRIVATE LIMITED - Respondent: AVENUE SUPERMARTS
LIMITED Petn. Adv : YASMIN BHANSALI & CO. (45) Resp. Adv.:
YASHPAL JAIN [RESP./APPLICANT] [I3077] District: MUMBAI |
|
Bench: DIVISION Status: Pre-Admission
Category: NOTICE OF
MOTION [APPEAL] Next Date: 03.09.2014
Stage: NOTICE OF MOTION FOR HEARING [ORIGINAL SIDE MATTERS] Coram: HON’BLE THE CHIEF JUSTICE HON’BLE SHRI JUSTICE M.S. SONAK Last Date: 20.08.2014
Stage: NOTICE OF MOTION FOR HEARING [ORIGINAL SIDE MATTERS] Last Coram: HON’BLE THE CHIEF JUSTICE HON’BLE SHRI JUSTICE M.S.
SONAK |
|
Act: Arbitration and Conciliation Act 1996 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10496682 |
06/05/2014 |
230,700,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C05171665 |
|
2 |
10495245 |
11/04/2014 |
94,400,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE SENAPATI
BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C04662573 |
|
3 |
10481193 |
12/02/2014 |
150,000,000.00 |
ING VYSYA BANK
LIMITED |
MITTAL
TOWERS,A-WING, GROUND FLOOR, 210 NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021,
INDIA |
B97889281 |
|
4 |
10482661 |
12/02/2014 |
1,000,000,000.00 |
ING VYSYA BANK
LIMITED |
22,GROUND
FLOOR,ING VYSYA HOUSE, M.G.ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B98510316 |
|
5 |
10476571 |
29/01/2014 |
256,744,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE SENAPATI
BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B95923017 |
|
6 |
10467700 |
12/12/2013 |
321,600,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B92557420 |
|
7 |
10468817 |
11/04/2014 * |
282,100,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C04658290 |
|
8 |
10427948 |
02/05/2013 |
1,000,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN BHAVAN,
227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B75856625 |
|
9 |
10380633 |
27/09/2012 |
50,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B59722223 |
|
10 |
10372903 |
14/08/2012 |
57,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B56511413 |
|
11 |
10372208 |
31/07/2012 |
750,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN BHAVAN,
227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B56271000 |
|
12 |
10352008 |
18/04/2012 |
213,100,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38314019 |
|
13 |
10352010 |
17/04/2012 |
259,900,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38314209 |
|
14 |
10348474 |
20/02/2014 * |
200,000,000.00 |
AXIS BANK
LIMITED |
AXIS HOUSE, CORPORATE
BANKING BRANCH, GROUND FLOOR, P.B. MARG, WORLI, MUMBAI, MAHARASHTRA - 400025,
INDIA |
C00166488 |
|
15 |
10328046 |
01/06/2012 * |
1,000,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B42221382 |
|
16 |
10325558 |
24/11/2011 |
200,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B28770683 |
|
17 |
10321408 |
23/11/2011 |
420,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE SENAPATI
BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B27032143 |
|
18 |
10289353 |
24/05/2011 |
500,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B13933247 |
|
19 |
10230047 |
29/06/2010 |
500,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A89396212 |
|
20 |
10194676 |
23/06/2010 * |
1,250,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN BHAVAN,
227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A88284922 |
|
21 |
10223918 |
21/12/2009 |
55,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A78929841 |
|
22 |
10188271 |
01/07/2014 * |
200,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
27BKC, C 27, G
BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
C13851274 |
|
23 |
10154526 |
06/05/2014 * |
1,293,700,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C05175492 |
|
24 |
10074564 |
14/01/2013 * |
180,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B68579077 |
|
25 |
10057904 |
17/05/2007 |
100,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A18043760 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
400.000 |
600.000 |
|
|
|
|
|
Total |
400.000 |
600.000 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 903, Dalamal
House, 206, J B Marg, Nariman Point, Mumbai - 400021, Maharashtra, India to the
present address w.e.f.02.04.2007.
GENERAL INFORMATION
Subject is engaged in the business of organized retail and
operates supermarkets under the brand name of D-Mart having presence in west
and south regions of India. The Company is having 62 operational stores as at
March 31, 2013.
PERFORMANCE REVIEW
The Company has recorded yet another year of exponential growth even at a time of a highly competitive environment in the Retail Sector. The Company has opened Seven new stores during the year as at 31st March, 2013 taking the total number of Stores to 62.
The Income from Operations has increased to Rs. 33346.182
Millions as against the previous year's income of Rs. 22026.010 Millions,
registering a steady growth of 51.39% on a y-o-y basis. The Company has earned
a Net Profit of Rs. 924.189 Millions.
FIXED ASSETS:
· Land
Buildings
Office building
Plant and equipment
Other plant and equipment
Furniture and fixtures
Vehicles
Motor vehicles
Office equipment
Computer equipments
Other equipments
Leasehold improvements
Brands and trade marks
Computer software
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. 60.47 |
|
|
1 |
Rs. 100.15 |
|
Euro |
1 |
Rs. 79.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.