MIRA
INFORM REPORT
|
Report Date : |
13.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE RETAIL LIMITED (w.e.f. 13.07.2013) |
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Formerly Known
As : |
RELIANCE FRESH LIMITED (w.e.f. 18.01.2008) RANGER FARMS LIMITED (w.e.f. 10.02.2007) RANGER FARMS PRIVATE LIMITED |
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Registered
Office : |
3rd Floor, Court House, Lokmanya Tilak Marg ,
Dhobi Talao, Mumbai - 400002, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
29.06.1999 |
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Com. Reg. No.: |
11-120563 |
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Capital
Investment / Paid-up Capital : |
Rs.10.500 Millions |
|
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CIN No.: [Company Identification
No.] |
U01100MH1999PLC120563 |
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|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR19954E |
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PAN No.: [Permanent Account No.] |
AABCR1718E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Departmental Stores. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “Reliance Group” a well known and a reputed
industrial house in the country. Management of the company has failed to file its financial for the year
2013 with the government department. As per previous year financial i.e. 2012, there appears huge
accumulated losses. The net worth of the company has been fully eroded. However, trade relations are fair. Business is active. Payment terms
are reported as slow. In view of strong holding company, subject can be considered for
business dealings with great caution. |
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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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
Management Non Cooperative. (91-22-44772522)
LOCATIONS
|
Registered Office : |
3rd Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai - 400002, Maharashtra, India |
|
Tel. No.: |
91-22-44770000 |
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Fax No.: |
91-22-44771882 |
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E-Mail : |
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Website : |
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Corporate Office : |
9th Floor, Maker Chambers IV, 222, Nariman Point, Mumbai – 400021,
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Tel. No.: |
91-22-44772522 |
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Fax No.: |
91-22-22785211 |
DIRECTORS
As on 04.08.2012
|
Name : |
Mr. Pankaj Mohan Pawar |
|
Designation : |
Whole Time Director |
|
Address : |
302, Archana, Surabh, Plot No.20, Sector 7, Koparkhairne, Navi Mumbai – 400709, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1972 |
|
Date of Appointment : |
01.04.2012 |
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DIN No.: |
00085077 |
|
|
|
|
Name : |
Mr. Pramod Madhukar Bhawalkar |
|
Designation : |
Director |
|
Address : |
236, Om Trimurti CHS, Bhaktidham Marg, Off Sion Trombay Road,
Chunabhati, Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
18.01.1957 |
|
Date of Appointment : |
04.08.2012 |
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DIN No.: |
01114946 |
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|
|
|
Name : |
Mr. Madhavan Ganesan |
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Designation : |
Whole Time Director |
|
Address : |
C-Wing, 2004/20th Floor, Shree Ji, Heights Plot, Sector 46A, Nerul, Navi Mumbai – 400706, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1964 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
01674529 |
MAJOR SHAREHOLDERS
LATEST SHAREHOLDING DETAILS ARE NOT AVAILABLE
As on 04.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Retail Limited, India |
|
1049994 |
|
Rajendra Madhav Kamath Jointly With Reliance Retail Limited, India |
|
1 |
|
Sudhakar Saraswatula Jointly With Reliance Retail Limited, India |
|
1 |
|
Sridhar Kothandaranman With Reliance Retail Limited , India |
|
1 |
|
Pankaj Mohan Pawar Jointly With Reliance Retail Limited, India |
|
1 |
|
Madhavan Ganesan jointly with Reliance Retail Limited, India |
|
1 |
|
A Ramaswamy jointly with Reliance Retail Limited, India |
|
1 |
|
Total |
|
1050000 |
Equity Share Break up (Percentage of Total Equity)
As on 04.08.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Departmental Stores. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai - 400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714/715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400 021, |
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PAN.: |
AAAFC0662N |
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|
|
|
Name : |
S. V. Ghatalia and Associates Chartered Accountants |
|
Address : |
16th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai 400028, Maharashtra, India |
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PAN.: |
AACFS6921Q |
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Ultimate holding company: (As on 31.03.2012) |
Reliance Industries Limited, India CIN: L17110MH1973PLC019786 |
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|
|
|
Holding company: (As on 31.03.2012) |
Reliance Retail Limited, India CIN: U17120MH1998PLC114010 |
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Subsidiaries: (As on 31.03.2012) |
·
Delight Proteins Limited, India CIN: U74140MH2000PLC128371 ·
LPG Infrastructure (India) Limited, India CIN: U65990MH1992PLC067949 ·
Reliance Agri Products Distribution Limited (upto 30th January, 2012) ·
Reliance Autozone Limited, India (from 31st
January, 2012) CIN: U74140MH2000PLC128398 ·
Reliance Dairy Foods Limited, India (from 31st January, 2012) CIN: U15419MH2006PLC165826 ·
Reliance Digital Media Limited (from 31st January, 2012) ·
Reliance F and B Services Limited, India CIN: U85190MH2000PLC126442 ·
Reliance Food Processing Solutions Limited, India CIN: U51101MH2007PLC175511 ·
Reliance Gems and Jewels Limited (upto 30th January, 2012) ·
Reliance Home Products Limited, India CIN: U52599MH2007PLC176409 ·
Reliance Home Store Limited (upto 30th January,
2012) ·
Reliance Hypermart Limited (upto 25th March,
2012) ·
Reliance Integrated Agri Solutions Limited (upto 30th January, 2012) ·
Reliance Leisures Limited (upto 30th January, 2012) ·
Reliance Lifestyle Holdings Limited (upto 30th
January, 2012) ·
Reliance Loyalty and Analytics Limited,
India (from 31st January, 2012) CIN: U51101MH2007PLC175624 ·
Reliance Petro Marketing Limited, India CIN: U74210MH1999PLC120377 ·
Reliance Replay Gaming Limited, India (from 31st
January, 2012) CIN: U51109MH2008PLC185068 ·
Reliance Review Cinema Limited, India (from 31st January, 2012) CIN: U51109MH2008PLC185095 ·
Reliance Supply Chain Solutions Limited (upto 30th January, 2012) ·
Reliance Vantage Retail Limited (upto 25th March, 2012) ·
Reliance Wellness Limited (upto 25th March, 2012) ·
Retail Concepts and Services (India) Limited (upto 30th January, 2012) ·
Two Sisters Foods India Limited, India CIN: U51109MH2008PLC185094 |
|
Fellow subsidiaries: (As on 31.03.2012) |
·
Indiawin Sports Private Limited, India CIN: U51109MH2007PTC176254 ·
Infotel Broadband Services Limited, India CIN: U72900MH2007PLC234712 ·
Reliance Autozone Limited (upto 30th January,
2012) ·
Reliance Brands Limited, India CIN: U51900MH2007PLC174470 ·
Reliance Commerical Land and Infrastructure
Limited ·
Reliance Corporate IT Park Limited, India CIN: U74140MH2001PLC131458 ·
Reliance Dairy Foods Limited (upto 30th January, 2012) ·
Reliance Digital Media Limited, India (upto 30th January, 2012) CIN: U51909MH2007PLC175652 ·
Reliance Financial Distribution and Advisory Services
Limited, India CIN: U65990MH2007PLC170804 ·
Reliance Commercial Land and Infrastructure
Limited, India CIN: U51109MH2008PLC185389 ·
Reliance Footprint Limited, India CIN: U51101MH2007PLC171321 ·
Reliance Gems and Jewels Limited, India (from 31st January, 2012) CIN: U25199MH1998PLC114011 ·
Reliance Home Store Limited, India (from 31st
January, 2012) CIN: U51101MH2007PLC175510 ·
Reliance Industrial Investments and Holdings
Limited, India CIN: U65910MH1986PLC041081 ·
Reliance Agri Products Distribution Limited,
India (from 31st January, 2012) CIN: U52100MH2007PLC175530 ·
Reliance Infrastructure Management Services
Limited, India CIN: U51900MH2007PLC175640 ·
Reliance Integrated Agri Solutions Limited,
India (from 31st January, 2012) CIN: U51909MH2007PLC167793 ·
Reliance Jamnagar Infrastructure Limited, India CIN: U45300GJ1999PLC036347 ·
Reliance Leisures Limited, India (from 31st
January, 2012) CIN: U52100MH2007PLC175533 ·
Reliance Lifestyle Holdings Limited, India (from 31st January, 2012) CIN: U01403MH2007PLC172415 ·
Reliance Office Solutions Private Limited, India CIN: U51109MH2008PTC185092 ·
Reliance Payment Solutions Limited, India CIN: U65923MH2007PLC173923 ·
Reliance People Serve Limited, India CIN: U93090MH2007PLC167786 ·
Reliance Polyolefins Limited, India CIN: U99999MH1992PLC065847 ·
Reliance Retail Insurance Broking Limited, India CIN: U67200MH2006PLC165651 ·
Reliance Retail Travel and Forex Services
Limited ·
Reliance Security Solutions Limited, India CIN: U51109MH2008PLC185401 ·
Reliance Strategic Investments Limited, India CIN: U65990MH1999PLC120918 ·
Reliance Supply Chain Solutions Limited,
India (from 31st January, 2012) CIN: U52190MH2007PLC175508 ·
Reliance Trade Services Centre Limited, India CIN: U51900MH2007PLC175636 ·
Reliance Trends Limited, India CIN: U51909MH2006PLC166165 ·
Reliance Universal Ventures Limited, India CIN: U51109MH2007PLC167805 ·
Reliance Wellness Limited (From 26th March, 2012) ·
Reliance digital Retail Limited, India CIN: U70102MH2007PLC170415 ·
Reliance Haryana SEZ Limited, India CIN: U70109HR2006PLC036416 ·
RESQ Limited, India CIN: U52599MH2007PLC168275 ·
Retail Concepts and Services (India) Limited,
India (from 31st January, 2012) CIN: U15130MH2003PLC139197 ·
Strategic Manpower Solutions Limited, India CIN: U74999MH2007PLC167704 |
CAPITAL STRUCTURE
After 04.08.2012
Authorised Capital : Rs.150000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.49895.417
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1050000 |
Equity Shares |
Rs.10/- each |
Rs. 10.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1050000 |
Equity Shares |
Rs.10/- each |
Rs. 10.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.500 |
10.500 |
|
(b) Reserves & Surplus |
|
(12950.900) |
(10213.300) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
(12940.400) |
(10202.800) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
58728.300 |
47581.700 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
108.800 |
70.000 |
|
Total Non-current Liabilities (3) |
|
58837.100 |
47651.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
3085.500 |
2073.100 |
|
(c) Other current
liabilities |
|
1089.500 |
563.400 |
|
(d) Short-term provisions |
|
5.600 |
15.200 |
|
Total Current Liabilities (4) |
|
4180.600 |
2651.700 |
|
|
|
|
|
|
TOTAL |
|
50077.300 |
40100.600
|
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
23244.200 |
23629.300 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
3811.700 |
3221.900 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2455.400 |
19.100 |
|
(c) Deferred tax assets (net) |
|
6165.100 |
4677.400 |
|
(d) Long-term Loan and Advances |
|
5861.900 |
4017.800 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
41538.300 |
35565.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
5313.700 |
3237.000 |
|
(c) Trade receivables |
|
1480.900 |
295.100 |
|
(d) Cash and cash
equivalents |
|
203.200 |
144.200 |
|
(e) Short-term loans and
advances |
|
1541.100 |
858.800 |
|
(f) Other current assets |
|
0.100 |
0.000 |
|
Total Current Assets |
|
8539.000 |
4535.100 |
|
|
|
|
|
|
TOTAL |
|
50077.300 |
40100.600 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(4119.319) |
|
|
NETWORTH |
|
|
(4118.819) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5.893 |
|
|
2] Unsecured Loans |
|
|
21002.895 |
|
|
TOTAL BORROWING |
|
|
21008.788 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16889.969 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6018.618 |
|
|
Capital work-in-progress |
|
|
5288.751 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4.900 |
|
|
DEFERREX TAX ASSETS |
|
|
2010.473 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2146.706
|
|
|
Sundry Debtors |
|
|
522.187
|
|
|
Cash & Bank Balances |
|
|
179.364
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
2105.282
|
|
Total
Current Assets |
|
|
4953.539
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1331.294
|
|
|
Other Current Liabilities |
|
|
0.040
|
|
|
Provisions |
|
|
54.978
|
|
Total
Current Liabilities |
|
|
1386.312
|
|
|
Net Current Assets |
|
|
3567.227
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16889.969 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
38378.400 |
28670.000 |
20827.300 |
|
|
|
Other Income |
8.500 |
256.400 |
12.800 |
|
|
|
TOTAL (A) |
38386.900 |
28926.400 |
20840.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
33270.800 |
24295.500 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(2034.700) |
105.400 |
|
|
|
|
Employee benefit expense |
1752.800 |
1078.300 |
|
|
|
|
Other expenses |
7564.100 |
7163.100 |
|
|
|
|
TOTAL (B) |
40553.000 |
32642.300 |
22347.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(2166.100) |
(3715.900) |
(1507.200) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.400 |
1.600 |
0.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2168.500) |
(3717.500) |
(1508.000) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2056.800 |
1106.100 |
662.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(4225.300) |
(4823.600) |
(2170.900) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1487.700) |
(1365.400) |
(819.300) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(2737.600) |
(3458.200) |
(1351.600) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(10213.300) |
(4119.278) |
(2767.678) |
|
|
|
|
|
|
|
|
|
|
Transferred on Demerger |
0.000 |
(2635.800) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(12950.900) |
(10213.300) |
(4119.278) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
NA |
NA |
136.740 |
|
|
|
Capital Goods |
NA |
NA |
0.141 |
|
|
TOTAL IMPORTS |
NA |
NA |
136.881 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share |
(2607.24) |
(13536.01) |
(27032.82) |
|
_MIRA%2013-Jan-2014_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(7.13)
|
(11.96) |
(6.49) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.01)
|
(16.82) |
(10.42) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.22)
|
(14.99) |
(19.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.33)
|
(0.47) |
(0.53) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(4.54)
|
(0.47) |
(5.43)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04
|
1.71 |
3.57
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
58708.000 |
47573.600 |
|
Total |
58708.000 |
47573.600 |
OPERATIONAL
REVIEW:
During the year, the Company witnessed strong growth in sales from
existing stores and also added new stores. The Company operates Value Format that
comprises of Reliance Fresh, Reliance Super, Reliance Mart, Delight and
Autozone. Together these formats consist of over 700 stores and contribute to
dominant share of retail space and turnover.
The Company is the largest grocery retailer in the Country.
The neighborhood format catering to daily shopping needs Reliance Fresh
continues to grow with strong same store sales growth.
The Company launched its new prototype of Reliance Mart and Reliance Super
during the year and has received an overwhelming response from customers. The
Company will be rolling out more stores in Financial Year 2012-13, which are
currently in various stages of construction and planning.
The Company launched its first wholesale format under the name of
Reliance Market in Ahmedabad. Reliance Market is infusing new life in
traditional transactions with professional customers and boosting their
entrepreneurial capacity. It is generating sustained value by creating
employment and most importantly, self-belief in small shopkeepers, as it
partners with the traditional trade. The first pilot store boasting of an area
of 100,000 sq ft caters to kirana stores, small businesses, restaurants and
various other institutional buyers. Encouraged by the success, the company will
rapidly expand the format.
Having built a strong foundation for growth and the continuous focus on
providing superior value propositions, the directors are confident of robust
performance by the Company in the coming years
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10344114 |
01/03/2012 |
42,500,000.00 |
HDFC Bank Limited |
HDFC Bank house Senapati Bapat Marg, Lower Parel West, Mumbai- 400013,
Maharashtra, India |
B35773571 |
|
2 |
10154320 |
30/03/2009 |
22,500,000.00 |
HDFC Bank Limited |
HDFC Bank house Senapati Bapat Marg, Lower Parel West, Mumbai- 400013,
Maharashtra, India |
A60806841 |
|
3 |
10044047 |
30/03/2007 |
35,000,000.00 |
ICICI Bank Limited |
Landmark Race Cource Circle, Alkapuri, Baroda 390015, Gujarat, India |
A13253638 |
|
4 |
10065388 |
28/02/2007 |
100,000,000.00 |
HDFC Bank Limited |
HDFC Bank house Senapati Bapat Marg, Lower Parel West, Mumbai- 400013,
Maharashtra, India |
A12463303 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
Guarantees |
112.000 |
89.300 |
|
Estimated amount of contracts remaining to
be executed on capital account and not provided for |
392.100 |
337.700 |
FIXED ASSETS
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
AS PER WEBSITE
NEWS:
RIL'S RETAIL UNITS SET FOR MERGER
Reliance Industries Limited (RIL) is set to carry out a major restructuring exercise. Nine of its retail units would be merged with Reliance Retail and Reliance Fresh. Last month, the Bombay High Court had approved the merger. The nine companies - Retail, Reliance Footprint, Reliance Gems and Jewels, Reliance Leisures, Reliance Trends, Reliance Autozone, Reliance Digital Media, Reliance Replay Gaming and RESQ - are wholly-owned subsidiaries of Reliance Fresh which, in turn, is a wholly-owned subsidiary of Reliance Retail.
In a petition to the court, RIL had said the restructuring would lead to better
cash management, enabling Reliance Fresh to improve its financials. It would
also result in an increased asset base and help expand. An RIL spokesperson did
not reply to calls by Business Standard. The operations of these firms might be
divided into domestic and international segments.
The restructuring is aimed at housing all domestic operations of these
companies under a single company---Reliance Fresh---and all international
operations under a different company---Reliance Trends.
The merger of the companies with Reliance Fresh would result in the activities
connected to organised retail being consolidated into a single company.
"The restructuring will also result in an improvement in cash management,
enabling Reliance Fresh to improve its financial position, have an increased
asset base and expand operations," the RIL counsel said.
The court order said the restructuring would strengthen the leadership, in terms
of revenues, product range and volumes, resulting in enhanced shareholder
value. The process would also simplify business structure by eliminating
multiple entities engaged in similar activities; connected operations can be
conveniently combined, creating a single unified entity in place of a holding
company and subsidiary companies.
RELIANCE CLUBS NINE
ARMS WITH RELIANCE FRESH
Thu, Mar 29 2012.
Mumbai: Reliance Retail Limited, an arm of India’s most-valued company Reliance Industries Limited, has integrated nine of its loss-making subsidiaries with Reliance Fresh Limited, under a scheme of arrangement proposed to the Bombay high court.
The structure was approved by the court on 26 December and came into effect on 30 December, when the court order was submitted to the Registrar of Companies.
The integration will allow the company to “exclusively focus on one area of business and also have a greater capacity to raise finance and expand operations,” Reliance says in its proposal, a copy of which Mint has reviewed.
The nine companies merged with Reliance Fresh are: Reliance Agri Products Distribution Limited, Reliance Food Processing Solutions Limited, Reliance Home Store Limited, Reliance Hypermart Limited, Reliance Integrated Agri Solutions Limited, Reliance Lifestyle Holdings Limited, Reliance Supply Chain Solutions Limited, Reliance Wellness Limited and Reliance Concepts and Services India Limited.
These companies, including Reliance Fresh, incurred a combined loss of `360.47 crore on a revenue of Rs 3,380.16 crore in fiscal 2011, according to data culled from RIL’s 2011 annual report.
Other than Reliance Fresh, the retail business includes Reliance Digital, Reliance Trends and Reliance Brands. None of these are listed on BSE Limited.
An email sent to RIL on Thursday remained unanswered.
An RIL official, speaking on condition of anonymity, said the restructuring was contemplated during a phase of consolidation at Reliance Retail on the basis that companies with similar operations should be merged into one.
According to the scheme of arrangement, the holding company decided to restructure the operations to “segregate similar trading and related operations and to house the same in a single company Reliance Fresh Limited, instead of several companies carrying on the same business.”
It added that “the demerger would also achieve synergies and economies of scale by reducing duplication of costs and improving administrative and operational efficiency.”
Financial ed about the merger on 16 September and CNBC TV18 on 5 March.
India’s largest listed retailer by revenues, Pantaloons Retail India Limited, executed a similar restructuring two years ago by bringing brands like Big Bazaar and Food Bazaar under a single entity Future Value Retail Limited, thus separating the lifestyle and apparel retail arms as it looked to raise money and expand the business.
“The procurement requirements for many of the formats is the same,” said the same Reliance official. “Also, some of the entities that were merged used to provide back-end logistical support. So there were operational synergies.”
“Aligning formats with needs of business into one structure would help rationalise costs and give economies of scale as companies look at profitability,” said Rajan Divekar, senior director, Deloitte Touche Tohmatsu India Pvt. Limited.
After forming Reliance Fresh, Reliance Retail passed a special resolution for an investment of Rs 4,500 crore on 31 December at its annual general meeting.
The restructuring follows the induction in July of top executives—Rob Cissell, former chief operating officer of WalMart China as chief executive-value formats, and Shawn Gray, former vice-president, Walmart China, as chief operations officer—to turnaround the retail business.
“The management changes and the restructuring signal a commitment of the parent to the retail business,” said Arvind Singhal, chairman of retail advisory firm Technopak India Pvt. LimitedRIL expects integration to give the company greater capacity to raise finance and expand operations.
He added, though, that it was too early to decide whether such moves will result in any operational efficiencies as Reliance’s retail business is still young.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.61.94 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
31 |
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.