MIRA INFORM REPORT
|
Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
COLOR PLUS FASHIONS LIMITED |
|
|
|
|
Registered
Office : |
C-3, Ambattur Industrial Estate, Ambattur, Chennai – 600058, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.06.1987 |
|
|
|
|
Com. Reg. No.: |
18-014467 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51102TN1987PLC014467 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC3401B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Readymade Garments and Accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “RAYMOND APPAREL LIMITED”. It is an established
company having satisfactory track record. The company has incurred loss from operational activities during the
financial year 2014. However, the rating takes into consideration financial and managerial
support that company receives from parent company marked by wide distribution
network, low reliance on debt and decent liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong parent support, the company can be considered for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
January 16, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
January 16, 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
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-61528178 / 61528024]
LOCATIONS
|
Registered Office : |
C-3, Ambattur Industrial Estate, Ambattur, Chennai – 600058, Tamilnadu, India |
|
Tel. No.: |
91-44-26255172 |
|
Fax No.: |
91-44-26254594 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Pokhran Road No.1, Jekegram, Thane - 400606, Maharashtra, India |
|
Tel. No.: |
91-22-61528178/ 61528024 |
DIRECTORS
AS ON 06.06.2014
|
Name : |
Mr. Gautam Hari Singhania |
|
Designation : |
Director |
|
Address : |
J.K. House, 59A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
09.09.1965 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
21.02.2003 |
|
DIN No.: |
00020088 |
|
|
|
|
Name : |
Mr. Nabankur Gupta |
|
Designation : |
Director |
|
Address : |
11, Jayshree, 75, Worli Sea Face, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1948 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
21.02.2003 |
|
DIN No.: |
00020125 |
|
|
|
|
Name : |
Mr. Shantilal Pokharna |
|
Designation : |
Director |
|
Address : |
A-1801/1802, Girija Building, Neelakant Heights, Shivai Nagar, Pokhran
Road No. 2, Thane (West), Thane – 400606, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1953 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
01289850 |
|
|
|
|
Name : |
Robert Apolin Lobo |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
RH 25, Customs Colony, B CHS Limited, Military Road, Marol, Andheri
(East), Mumbai – 400059, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1960 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
18.01.2013 |
|
DIN No.: |
00074035 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Raymond Apparel Limited, India |
|
99993 |
|
Raymond Apparel Limited joint with D. Gyanmal |
|
1 |
|
Raymond Apparel Limited joint with Alkari Nitin Priti |
|
1 |
|
Raymond Apparel Limited joint with Thakker Subhash |
|
1 |
|
Raymond Apparel Limited joint with Acharya A. Bhaskar |
|
1 |
|
Raymond Apparel Limited joint with Fernandes Thomas |
|
1 |
|
Raymond Apparel Limited joint with Deshmukh Aniruddha |
|
1 |
|
Raymond Apparel Limited joint with Pokharna Shantilal |
|
1 |
|
|
|
|
|
Total |
|
100000 |
AS ON 06.06.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Readymade Garments and Accessories. |
||||||
|
|
|
||||||
|
Products/ Services : |
|
||||||
|
|
|
||||||
|
Brand Name : |
“Colorplus” |
||||||
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|
|
||||||
|
Exports : |
-- |
||||||
|
|
|
||||||
|
Imports : |
-- |
GENERAL INFORMATION
|
Suppliers : |
-- |
|||||||||||||||
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|
|
|||||||||||||||
|
Customers : |
-- |
|||||||||||||||
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|
|||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Axis Bank Limited Corporate Banking
Branch, Ground Floor, Axis House, Bombay Dyeing Mills Compound, P. B. Marg,
Worli, Mumbai - 400025, Maharashtra, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai -
400013, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Shah Chartered Accountants |
|
Address : |
252 Veer Savarkar Marg, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFD0907D |
|
|
|
|
Ultimate Holding
company : |
Raymond Limited |
|
|
|
|
Holding company : |
Raymond Apparel Limited |
|
|
|
|
Joint venture : |
· Raymond UCO Denim Private Limited [U17115MH2006PTC162450] ·
Raymond Zambaiti Limited (Upto 17-09-2013) |
|
|
|
|
Fellow Subsidiary
company : |
· Silver Spark Apparel Limited [U72900MH2000PLC127831] · Celebrations Apparel Limited [U18100PN2004PLC140524] · Raymond Luxury Cottons Limited [U17120MH2004PLC149276] · Raymond Zambaiti Limited (w.e.f. 18-09-2013) |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
550,000 |
Preference Shares |
Rs. 100/- each |
Rs. 55.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 75.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
548,000 |
Preference Shares |
Rs. 100/- each |
Rs. 54.800 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 64.800 Millions
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
827.370 |
887.467 |
862.866 |
|
(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) |
837.370 |
897.467 |
872.866 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
4.050 |
4.200 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
4.050 |
4.200 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
135.387 |
0.000 |
48.091 |
|
(b)
Trade payables |
475.765 |
222.666 |
194.369 |
|
(c)
Other current liabilities |
20.913 |
21.246 |
40.107 |
|
(d)
Short-term provisions |
4.743 |
8.713 |
4.978 |
|
Total
Current Liabilities (4) |
636.808 |
252.625 |
287.545 |
|
|
|
|
|
|
TOTAL |
1478.228 |
1154.292 |
1160.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
216.962 |
275.619 |
272.433 |
|
(ii)
Intangible Assets |
5.797 |
3.129 |
4.662 |
|
(iii)
Capital work-in-progress |
5.204 |
9.889 |
3.193 |
|
(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) |
69.116 |
34.902 |
28.115 |
|
(d) Long-term Loan
and Advances |
197.133 |
177.348 |
118.545 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
494.212 |
500.887 |
426.948 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
688.537 |
456.272 |
602.039 |
|
(c)
Trade receivables |
216.239 |
154.251 |
77.480 |
|
(d)
Cash and cash equivalents |
20.830 |
15.579 |
8.285 |
|
(e)
Short-term loans and advances |
57.025 |
26.688 |
43.532 |
|
(f)
Other current assets |
1.385 |
0.615 |
2.127 |
|
Total
Current Assets |
984.016 |
653.405 |
733.463 |
|
|
|
|
|
|
TOTAL |
1478.228 |
1154.292 |
1160.411 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2095.729 |
1859.682 |
1904.603 |
|
|
|
Other Income |
4.195 |
3.506 |
15.487 |
|
|
|
TOTAL (A) |
2099.924 |
1863.188 |
1920.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
60.564 |
161.193 |
260.913 |
|
|
|
Purchases of Stock-in-Trade |
1198.816 |
532.282 |
640.305 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(254.074) |
117.841 |
(109.998) |
|
|
|
Employees benefits expense |
147.409 |
210.181 |
233.015 |
|
|
|
Other expenses |
937.856 |
763.628 |
763.214 |
|
|
|
TOTAL (B) |
2090.571 |
1785.125 |
1787.449 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.353 |
78.063 |
132.641 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
13.811 |
3.159 |
3.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(4.458) |
74.904 |
129.378 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
50.563 |
43.500 |
40.851 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(55.021) |
31.404 |
88.527 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.076 |
6.803 |
21.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(60.097) |
24.601 |
67.163 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB Basis |
46.303 |
25.771 |
35.305 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11.705 |
2.743 |
7.577 |
|
|
|
Stores & Spares |
0.000 |
0.329 |
0.000 |
|
|
|
Capital Goods |
0.000 |
2.223 |
50.261 |
|
|
TOTAL IMPORTS |
11.705 |
5.295 |
57.838 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(600.97) |
246.01 |
671.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(2.87) |
1.32 |
3.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
0.45 |
4.20 |
6.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.92) |
2.83 |
7.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
0.03 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16 |
0.00 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55 |
2.59 |
2.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
862.866 |
887.467 |
827.370 |
|
Net
worth |
872.866 |
897.467 |
837.370 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
48.091 |
0.000 |
135.387 |
|
Total
borrowings |
48.091 |
0.000 |
135.387 |
|
Debt/Equity ratio |
0.055 |
0.000 |
0.162 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1904.603 |
1859.682 |
2095.729 |
|
|
|
(2.359) |
12.693 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1904.603 |
1859.682 |
2095.729 |
|
Profit/ (Loss) |
67.163 |
24.601 |
(60.097) |
|
|
3.53% |
1.32% |
(2.87%) |
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10502194 |
03/05/2014 |
400,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, GROUND FLOOR, AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND, P. B. MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
C06208169 |
|
2 |
10071370 |
15/10/2008 * |
220,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A51390771 |
* Date of charge modification
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from C-10,
Industrial Estate, Ambattur, Chennai – 600058, Tamilnadu, India to the present
address w.e.f.22.10.2013.
GENERAL INFORMATION
Subject is one of India’s most respected branded apparel companies. The
Company brings to the consumers best of fabric and style through its brand
‘Colorplus’. The Company sells primarily in India through independent
retailers, large format stores and its own retail outlets.
FINANCIAL RESULTS
The Company’s Net turnover FY 2014 was Rs. 2095.700 Millions (Previous Year: Rs. 1859.600 Millions). The Company had a (Loss)/ Profit after tax of Rs. (60.000) Millions (Previous year: Rs. 24.600 Millions). Company in order to conserve the resources of the Company, your Directors does not recommend any dividend for the year.
During the year, the Company shut down the manufacturing operations at Chennai. Consequently it has offered a Voluntary Retirement (VRS) to the workmen and sold one of the owned plots and machineries lying at the manufacturing locations. The total cost incurred for VRS of Rs 58.253 lakhs and net of gain from sale of land and machineries of Rs 18.963 lakhs has been shown as exceptional item.
OPERATIONAL REVIEW
PERFORMANCE
The Company continues to be a market leader in the premium casual wear segment. The Company is focusing on operational efficiencies, innovation, market serviceability and will continue its focus on offering more innovative products and styles to retain its market leadership in the premium casual segment. The Company’s centralized supply chain operations and Centralised Trade distribution are expected to yield better results.
In the near future, the Company is gearing up to retain the leadership position. The Company has continued to take up new initiatives on brand communication, new look and feel of retail stores, etc.
AWARDS AND RECOGNITION
ColorPlus has won the prestigious award for Retail Excellence - Customer Loyalty from Asia Retail Congress during the year. The Company has also received an accredition for 50 Hot Brands - Chennai by Paul and writer during the year.
This is a recognition of our dedication and commitment towards providing an unforgettable and unmatchable experience to the discerning Indian male consumer and should help your Company to deliver best-in-class wardrobe solutions.
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
· 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. 61.65 |
|
|
1 |
Rs. 96.54 |
|
Euro |
1 |
Rs. 76.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.