MIRA
INFORM REPORT
|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARCHIES LIMITED |
|
|
|
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Registered
Office : |
Plot No. 191 F, Sector 4, IMT Manesar, Gurgaon – 122050, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
22.05.1990 |
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|
|
|
Com. Reg. No.: |
11-041175 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.67.562 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L36999HR1990PLC041175 |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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|
|
Line of Business
: |
The company is engaged in the business of retailing of gift items,
greeting cards, perfumes and stationery items. |
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|
No. of Employees
: |
1538 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4400000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment terms
are reported to be regular as per commitment. The company can be considered for normal business dealing 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank Goldman
Sachs has upgraded its outlook on Indian markets as it expects positive impact
of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits: A |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
August, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Commercial Paper: A1 |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest 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.
LOCATIONS
|
Registered Office / Factory 1: |
Plot No. 191 F, Sector 4, IMT Manesar, Gurgaon – 122050, Haryana,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Factory 2: |
Plot No.260, Sector 6, IMT Manesar, Gurgaon, Haryana, India |
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|
|
|
Corporate Office : |
C-113, Naraina Industrial Area, Phase – I, New Delhi –
110028, India |
|
Tel. No.: |
91-11-41410000/ 41412222 |
|
Fax No.: |
91-11-41410070 |
DIRECTORS
(AS ON 31.03.2013)
|
Name : |
Mr. Anil Moolchandani |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Jagdish Moolchandani |
|
Designation : |
Executive Director |
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|
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|
Name : |
Mr. Promod Arora |
|
Designation : |
Joint Managing Director |
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|
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|
Name : |
Mr. Vijayant Chhabra |
|
Designation : |
Executive Director |
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|
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|
Name : |
Mr. Sunil Bhel |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Arun Singhal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ajit Ganpatlal Shah |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Prem Kumar Chadha |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Kumar Tak |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2014)
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
20854600 |
61.74 |
|
|
0 |
0.00 |
|
|
20854600 |
61.74 |
|
|
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
20854600 |
61.74 |
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
500 |
0.00 |
|
|
75000 |
0.22 |
|
|
2000 |
0.01 |
|
|
77500 |
0.23 |
|
|
|
|
|
|
|
|
|
|
2136560 |
6.32 |
|
|
|
|
|
|
|
|
|
|
9340377 |
27.65 |
|
|
834709 |
2.47 |
|
|
536254 |
1.59 |
|
|
2000 |
0.01 |
|
|
32250 |
0.10 |
|
|
178509 |
0.53 |
|
|
323495 |
0.96 |
|
|
12847900 |
38.03 |
|
|
|
|
|
Total Public shareholding (B) |
12925400 |
38.26 |
|
|
|
|
|
Total (A)+(B) |
33780000 |
100.00 |
|
|
|
|
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
|
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|
Total (A)+(B)+(C) |
33780000 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 Million 
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of retailing of gift items,
greeting cards, perfumes and stationery items. |
|
|
|
|
Brand Name : |
“ARCHIES” |
GENERAL INFORMATION
|
No. of Employees : |
1538 (Approximately) |
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Bankers : |
·
Citi Bank N. A. ·
Indusland Bank Limited ·
ICICI Bank Limited |
||||||||||||||||||||||||||||||||||||
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Facilities : |
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||||||||||||||||||||||||||||||||||||
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Uberoi Sood and Kapoor Chartered Accountants |
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|
|
|
Enterprises over
which key management personnel or their relatives exercise significant influence
: |
·
Empire Greetings and Gifts Private Limited ·
Rattanjee ·
Andani Corporation |
CAPITAL STRUCTURE
(AS ON 16.07.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6756000 |
Equity Shares |
Rs.10/- each |
Rs.67.560
millions |
|
|
Forfeited Shares |
|
Rs.0.002
millions |
|
|
|
|
|
|
|
Total |
|
Rs.67.562 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 |
67.562 |
67.562 |
67.562 |
|
(b) Reserves & Surplus |
1,039.534 |
986.275 |
906.964 |
|
(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) |
1,107.096 |
1,053.837 |
974.526 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5.086 |
9.142 |
23.899 |
|
(b) Deferred tax liabilities (Net) |
71.064 |
71.090 |
64.121 |
|
(c) Other long term liabilities |
62.253 |
67.332 |
47.619 |
|
(d) long-term provisions |
5.921 |
7.600 |
9.559 |
|
Total Non-current Liabilities (3) |
144.324 |
155.164 |
145.198 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
35.239 |
52.520 |
103.033 |
|
(b) Trade payables |
58.417 |
45.973 |
61.222 |
|
(c) Other current
liabilities |
113.231 |
131.064 |
206.719 |
|
(d) Short-term provisions |
22.844 |
24.408 |
21.370 |
|
Total Current Liabilities (4) |
229.731 |
253.965 |
392.344 |
|
|
|
|
|
|
TOTAL |
1,481.151 |
1,462.966 |
1,512.068 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
646.883 |
656.801 |
603.246 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
11.644 |
6.410 |
6.224 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
134.599 |
118.496 |
113.045 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
4.743 |
|
Total Non-Current Assets |
793.126 |
781.707 |
727.258 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
441.215 |
455.548 |
562.565 |
|
(c) Trade receivables |
185.646 |
167.552 |
162.751 |
|
(d) Cash and cash
equivalents |
30.064 |
20.140 |
15.643 |
|
(e) Short-term loans and
advances |
31.100 |
38.019 |
43.851 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
688.025 |
681.259 |
784.810 |
|
|
|
|
|
|
TOTAL |
1,481.151 |
1,462.966 |
1,512.068 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2,012.772 |
2,011.312 |
1,881.877 |
|
|
|
Other Income |
3.695 |
8.603 |
11.925 |
|
|
|
TOTAL (A) |
2,016.467 |
2,019.915 |
1,893.802 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
156.777 |
162.934 |
167.873 |
|
|
|
Purchases of Stock-in-Trade |
608.751 |
468.124 |
617.535 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(14.239) |
123.909 |
(72.430) |
|
|
|
Employees benefits expense |
281.874 |
272.325 |
236.374 |
|
|
|
Other expenses |
806.987 |
769.956 |
712.437 |
|
|
|
TOTAL (B) |
1,840.150 |
1,797.248 |
1,661.789 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
176.317 |
222.667 |
232.013 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.480 |
37.629 |
26.592 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
153.837 |
185.038 |
205.421 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.749 |
45.904 |
45.326 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
105.088 |
139.134 |
160.095 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
35.013 |
44.119 |
51.821 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
70.075 |
95.015 |
108.274 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.000 |
15.000 |
15.000 |
|
|
|
Final Dividend (Propose) |
13.512 |
13.512 |
13.512 |
|
|
|
Tax on Dividend |
2.296 |
2.192 |
2.192 |
|
|
BALANCE CARRIED
TO THE B/S |
39.267 |
64.311 |
77.570 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
37.753 |
40.111 |
62.688 |
|
|
TOTAL EARNINGS |
37.753 |
40.111 |
62.688 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
8.282 |
41.965 |
28.724 |
|
|
|
Traded Goods |
302.800 |
239.627 |
331.060 |
|
|
|
Capital Goods |
3.166 |
5.613 |
5.239 |
|
|
|
Others |
0.827 |
4.930 |
10.790 |
|
|
TOTAL IMPORTS |
315.075 |
292.135 |
375.813 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.07 |
2.81 |
3.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.48 |
4.70 |
5.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.22 |
6.92 |
8.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.15 |
9.55 |
10.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.13 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04 |
0.06 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.99 |
2.68 |
2.00 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
67.562 |
67.562 |
67.562 |
|
Reserves & Surplus |
906.964 |
986.275 |
1039.534 |
|
Net worth |
974.526 |
1053.837 |
1107.096 |
|
|
|
|
|
|
long-term borrowings |
23.899 |
9.142 |
5.086 |
|
Short term borrowings |
103.033 |
52.520 |
35.239 |
|
Total borrowings |
126.932 |
61.662 |
40.325 |
|
Debt/Equity ratio |
0.130 |
0.059 |
0.036 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from
Operations |
1,881.877 |
2,011.312 |
2,012.772 |
|
|
|
6.878 |
0.073 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
1,881.877 |
2,011.312 |
2,012.772 |
|
Profit |
108.274 |
95.015 |
70.075 |
|
|
5.75% |
4.72% |
3.48% |
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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
PERFORMANCE REVIEW
During the year the company
recorded a turnover of Rs.2012.772 Millions as compared to Rs.2011.312
Millions in the previous financial year, up by 0.07%. The Net Profit for the
same period stands at Rs.70.075 Millions as against Net profit of Rs.95.015 Millions
in the previous year.
In the challenging
market scenario the company has managed to maintain marginal improvement in the
turnover but there has been dip in the Profitability. The turnover of the
company constitutes of:
• The Turnover of
the Gift segment is Rs.1248.648 Millions as compared to Rs.1232.072
Millions previous year, up by 1.35%.
• The Turnover of
the Greeting card segment is Rs.485.456 Millions as compared to Rs.529.101 Millions
previous year, down by 8.25%.
• The stationery
sale is Rs.261.329 Millions as compared to Rs.235.504 Millions in the previous year, up by
10.97%.
The Company owned /
managed stores have significantly contributed towards turnover and the profits.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE AND DEVELOPMENT
The Social Expressions Industry is still unorganized in India. There are number of small players whose operations are restricted in their respective regions. Besides them, there are very few serious players having nationwide presence. Greeting Cards are more of a fashion than culture in India and the Industry is driven by retailers and distributors rather than consumers.
The Company, which pioneered the concept in the Indian market, is the leader with more than 50% share of the organized sector.
Technology in the form of e-greeting and SMS had its toll on the growth of the greeting cards business in general. However, this segment has the potential to bounce back in the years to come.
The Company has developed into a gifting solution destination for the consumers and has enhanced its reach to come near to the Customers, with opening of retail outlets in various cities in India. As on 31.03.2013 the Company is having 238 Company owned and operated retail outlets and is planning to open more stores.
This business is based on sentiments both at the micro and macro level.
OUTLOOK
The Greeting Cards
business during the year, is under pressure. But the company is working on
various strategies to counter the negative effects. With tie-up with UNICEF and
Hallmark we are quite confident that Greeting Cards business should show
positive signs in the coming years.
The turnover of the
Gifts segment has been higher than the Greeting Card segment. During the year
the Gift segment has shown a growth of 1.35.%. The Company has a positive
outlook in the gift segment and expects a good growth in the future.
The Stationary
segment has been continuously doing well and in the current year it has grown
by 10.97%. They are hopeful that this segment is going to perform better.
The company's
efforts to open company owned/managed stores will continue in the upcoming
shopping malls and high streets across the country on selective basis. Tie up
with Hallmark has opened the opportunity to open Hallmark Stores in India which
will be owned /managed by the company. The company has opened 13 Hallmark
stores during the year and the total no. of Archies and Hallmark Stores opened
by the company in PAN India as on 31.03.2013 is 238.
The main
concentration is on the core business of Greeting Cards, gifts and retail and
every effort of the Company is aimed at maximizing the profitability of the
company.
The company has
plans to open additional 130 stores in various shopping malls and high streets
across the country in phased manner over a period of next 3 years. The
management expects that the Company will benefit only if it opens retail stores
in selective malls and also open shops on high streets with premium locations.
The company has
plans to expand its business overseas.
FINANCIAL PERFORMANCE WITH RESPECT TO OPERATING
PERFORMANCE
The Company recorded
a turnover of Rs.2012.772 Millions for the financial year
2012-13 as compared to Rs.2011.312
Millions in the previous year up by 0.07%. The sale of Gifts Segment was up by
1.35%, Greeting Cards Segment sale was down by around 8.25% and Stationery were
up by 10,97%.
Inventory as at 31st
March 2013 stands at Rs.441.214
Millions as against Rs.455.548
Millions during previous year.
Debtors as at 31st
March 2013 stand at Rs.185.646 Millions
as against Rs.167.552 Millions during the previous year.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In
Millions) |
|
|
Income Tax Demand (Block Period) |
34.027 |
34.027 |
|
Dispute of Rent Escalation and CAM Charges |
0.660 |
0.088 |
|
Dispute of VAT/CST/ Entry Tax |
0.000 |
0.189 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10295402 |
14/07/2011 |
3,166,000.00 |
RELIGARE FINVEST LIMITED |
D3, P3B, District Centre,
Saket, New Delhi, Delhi - 110017, India |
B16274284 |
|
2 |
10295446 |
14/07/2011 |
1,833,000.00 |
RELIGARE FINVEST LIMITED |
D3, P3B, District Centre,
Saket, New Delhi, Delhi - 110017, India |
B16275745 |
|
3 |
10269280 |
23/02/2011 |
4,358,000.00 |
RELIGARE FINVEST LIMITED |
D3, P3B, District Centre,
Saket, New Delhi, Delhi - 110017, India |
B06437941 |
|
4 |
10059561 |
12/01/2011 * |
80,000,000.00 |
Citibank N.A |
Jeevan Bharti Building,
4th Floor, 124, Connaught |
B03877149 |
|
5 |
90051604 |
22/04/2013 * |
90,000,000.00 |
ICICI BANK LTD. |
9A, PHELPS BUILDING, CONNAUGHT
PLACE, NEW DELHI - 110001, INDIA |
B75117606 |
|
6 |
80034839 |
26/08/2011 * |
130,000,000.00 |
INDUSIND BANK LTD. |
2401 GEN THIMMAYYA ROAD,
CONTONMENT, PUNE, Maharashtra - 411001, INDIA |
B20468765 |
|
7 |
90049164 |
19/07/2011 * |
110,000,000.00 |
Citibank N.A |
Jeevan Bharti Building,
4th Floor, 124, Connaught |
B16917197 |
|
8 |
90057391 |
11/01/2001 |
408,656.00 |
KOTAK MAHINDRA FINANCE
LTD |
5C-II MITTAL COURT, 224 NARIMAN
POINT, MUMBAI, Ma |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Factory Building
· Building
· Plant and Machinery
· Furniture and Fittings
· Office Equipments
· Computers
· Vehicles
· Pollution Control Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered
forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.