MIRA INFORM REPORT
|
Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
LIFE STYLE INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
77, Town Centre, Building No. 3, West Wing, Off Hal Airport Road,
Yamlur P.O., Bangalore – 560037, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.11.1997 |
|
|
|
|
Com. Reg. No.: |
08-046775 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1220.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52190KA1997PTC046775 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRL00427A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL2937J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of retailing a variety of household
and consumer products through departmental stores. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 14800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflect LIPL’s established market position in the departmental
stores category supported by its diversified revenue profile, adequate
liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
CRISIL |
|
Rating |
Long term rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
June 26, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit
risk. |
|
Date |
June 26, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Laxmi Narayan |
|
Designation : |
Accountant |
|
Contact No.: |
91-80-41796565 |
|
Date : |
14.11.2014 |
LOCATIONS
|
Registered Office : |
77, Town Centre, Building No. 3, West Wing, Off Hal Airport Road,
Yamlur P.O., Bangalore – 560037, Karnataka, India |
|
Tel. No.: |
91-80-41796565 |
|
Fax No.: |
91-80-41528349 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Store Locator : |
Located at: · Ahmedabad · Amritsar · Bangalore · Bhopal · Chandigarh · Chennai · Coimbatore · Dehradun · Delhi · Ghaziabad · Gurgaon · Hyderabad · Jaipur · Jalandhar · Jammu · Kanpur · Kolkata · Ludhiana · Mangalore · Mohali · Mumbai · Nagpur · Noida · Pune · Surat · Vijayawada |
DIRECTORS
AS ON 30.08.2013
|
Name : |
Mr. Kabir Lumba |
|
Designation : |
Managing director |
|
Address : |
242, Time Apartments, Plot 268, 6th Cross, Indiranagar, 1st
Stage, Bangalore – 560038, Karnataka, India
|
|
Date of Birth/Age : |
16.08.1968 |
|
Date of Appointment : |
01.12.2012 |
|
DIN No.: |
00181791 |
|
|
|
|
Name : |
Mrs. Renuka Mukesh Jagtiani |
|
Designation : |
Director |
|
Address : |
82 Seagull, Carimichael Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
11.03.1955 |
|
Date of Appointment : |
28.09.2012 |
|
PAN No.: |
AFKPJ7680N |
|
DIN No.: |
00180922 |
|
|
|
|
Name : |
Mr. Ramanathan Hariharan |
|
Designation : |
Director |
|
Address : |
Villa 13, Meadows 5, Street 6 PO Box 25030 Dubai United Arab Emirates |
|
Date of Birth/Age : |
24.06.1955 |
|
Date of Appointment : |
04.02.2013 |
|
DIN No.: |
00323959 |
|
|
|
|
Name : |
Mr. Manohar Gurmukhdas Jewsani |
|
Designation : |
Director |
|
Address : |
502, Trishal
Garden, Sindhi Society, Chembur, Mumbai - 400071, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1954 |
|
Date of Appointment : |
19.12.1997 |
|
DIN No.: |
00181023 |
|
|
|
|
Name : |
Mr. Nani Byram Javeri |
|
Designation : |
Director |
|
Address : |
Flat 9, IV Orine,
154 M Karve Road, Mumbai – 400020, Maharashtra, India |
|
Date of Birth/Age : |
04.04.1946 |
|
Date of Appointment : |
04.08.2013 |
|
DIN No.: |
02731854 |
|
|
|
|
Name : |
Mr. Sayed Parvez Mustafa |
|
Designation : |
Director |
|
Address : |
4 Alhambra, First Floor, 3 Carmichael Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
01.07.1949 |
|
Date of Appointment : |
02.11.2013 |
|
DIN No.: |
00014427 |
|
|
|
|
Name : |
Mr. Vasanth Kumar Muthuvale |
|
Designation : |
Whole-time director |
|
Address : |
G-1104, Spring Field Apartments, Sarjapur Road, Bellandur Gate, Bangalore
- 560102, Karnataka, India |
|
Date of Birth/Age : |
23.07.1961 |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AADPK7654H |
|
DIN No.: |
00318913 |
KEY EXECUTIVES
|
Name : |
Mr. Laxmi Narayan |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Ramaprasad Suswaram |
|
Designation : |
Secretary |
|
Address : |
No. 22, 8th Cross, Central Excise Layout, Bhoopasandra,
RMV, 2nd Stage, Bangalore – 560094, Karnataka, India |
|
Date of Birth/Age : |
12.07.1966 |
|
Date of Appointment : |
14.08.2012 |
|
PAN No.: |
ABHPS4814J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.08.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
42.88 |
|
Directors
or relatives of directors |
51.73 |
|
Other
top fifty shareholders |
5.39 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of retailing a variety of household
and consumer products through departmental stores. |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
GENERAL INFORMATION
|
Suppliers : |
-- |
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||||||||||||||||||||||||
|
Customers : |
-- |
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|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited Corporate Banking Branch, Express Building, 2nd Floor, No 1, Queens Road, Bangalore - 560001, Karnataka, India · Kotak Mahindra Bank Limited 27 BKC, C27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India The Hongkong and Shanghai Banking Corporation Limited No.7, Mahatma Gandhi Road, Bangalore - 560001, Karnataka, India · HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Standard Chartered Bank 3rd Floor, Vaishnavi Serenity, 112,
Koramangala Industrial Area 5th Block, Koramangala, Bangalore -
560095, Karnataka, India ·
Indian Overseas Bank Commercial and
Institutional Credit Branch, 98-A, Dr. Radhakrishnan Salai, Mylapore, Chennai
- 600004, Tamilnadu, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
UB City Canberra
Block, 12th Floor, No. 24, Vittal Mallya Road, Bangalore - 560001, Karnataka,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Related Parties : |
· Citymax Hospitality (India) Private Limited [U92199KA2005PTC037615] · Citymax Hotels (India) Private Limited [U55101KA2005PTC037255] · Home Centre LLC · LMG Brands India Private Limited [U52190KA2005PTC035884] · LMG International Limited · Landmark Fitness Private Limited · Landmark Institution for Skills Training Private Limited [U80904KA2011NPL058386] · Max Hypermarket India Private Limited [U52190KA2004PTC037768] · RNA Resources Group Limited ·
Splash Fashions India Private Limited
[U52399KA2005PTC037310] |
CAPITAL STRUCTURE
AS ON 30.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
140,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
121,846,465 |
Equity Shares |
Rs. 10/- each |
Rs. 1218.465 Millions |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
140,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1220.000 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 |
1220.000 |
1220.000 |
1210.990 |
|
(b) Reserves & Surplus |
3960.000 |
2890.000 |
2512.903 |
|
(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) |
5180.000 |
4110.000 |
3723.893 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1000.000 |
1230.000 |
1560.110 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
140.000 |
150.000 |
106.836 |
|
(d)
long-term provisions |
180.000 |
90.000 |
40.223 |
|
Total
Non-current Liabilities (3) |
1320.000 |
1470.000 |
1707.169 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1010.000 |
890.000 |
1574.416 |
|
(b)
Trade payables |
2980.000 |
2350.000 |
1988.372 |
|
(c)
Other current liabilities |
2840.000 |
2420.000 |
2673.887 |
|
(d)
Short-term provisions |
1080.000 |
720.000 |
565.020 |
|
Total
Current Liabilities (4) |
7910.000 |
6380.000 |
6801.695 |
|
|
|
|
|
|
TOTAL |
14410.000 |
11960.000 |
12232.757 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3980.000 |
3700.000 |
3782.704 |
|
(ii)
Intangible Assets |
120.000 |
150.000 |
129.445 |
|
(iii)
Capital work-in-progress |
150.000 |
70.000 |
69.489 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.026 |
|
(c) Deferred tax assets
(net) |
820.000 |
640.000 |
640.275 |
|
(d) Long-term Loan
and Advances |
2460.000 |
2100.000 |
2184.049 |
|
(e)
Other Non-current assets |
0.000 |
10.000 |
5.010 |
|
Total
Non-Current Assets |
7530.000 |
6670.000 |
6810.998 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5520.000 |
4200.000 |
4567.451 |
|
(c)
Trade receivables |
250.000 |
320.000 |
201.749 |
|
(d)
Cash and cash equivalents |
420.000 |
230.000 |
75.147 |
|
(e)
Short-term loans and advances |
630.000 |
480.000 |
572.684 |
|
(f)
Other current assets |
60.000 |
60.000 |
4.728 |
|
Total
Current Assets |
6880.000 |
5290.000 |
5421.759 |
|
|
|
|
|
|
TOTAL |
14410.000 |
11960.000 |
12232.757 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Other Retail Operating Income |
34450.000 |
27330.000 |
23260.000 |
|
|
|
Other Income |
80.000 |
90.000 |
10.000 |
|
|
|
TOTAL |
34530.000 |
27420.000 |
23270.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
31970.000 |
25970.000 |
22930.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2560.000 |
1450.000 |
340.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
940.000 |
870.000 |
750.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1620.000 |
580.000 |
(410.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
580.000 |
240.000 |
(320.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1040.000 |
340.000 |
(90.000) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
780.000 |
440.000 |
530.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1820.000 |
780.000 |
440.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
470.000 |
387.600 |
960.000 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
8.52 |
2.79 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.02 |
1.24 |
(0.39) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.05 |
5.16 |
(3.56) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.14 |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.39 |
0.52 |
0.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.83 |
0.80 |
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 |
1210.990 |
1220.000 |
1220.000 |
|
Reserves & Surplus |
2512.903 |
2890.000 |
3960.000 |
|
Net
worth |
3723.893 |
4110.000 |
5180.000 |
|
|
|
|
|
|
Long-term borrowings |
1560.110 |
1230.000 |
1000.000 |
|
Short term borrowings |
1574.416 |
890.000 |
1010.000 |
|
Total
borrowings |
3134.526 |
2120.000 |
2010.000 |
|
Debt/Equity ratio |
0.842 |
0.516 |
0.388 |
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 |
23260.000 |
27330.000 |
34450.000 |
|
|
|
17.498 |
26.052 |
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 |
23260.000 |
27330.000 |
34450.000 |
|
Profit/ (Loss) |
(90.000) |
340.000 |
1040.000 |
|
|
(0.39%) |
1.24% |
3.02% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10453104 |
19/03/2014 * |
500,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, EXPRESS BUILDING, 2ND FLOOR, NO 1, QUEENS ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
C00623231 |
|
2 |
10434055 |
19/03/2014 * |
400,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC,C27,G BLOCK,, BANDRA KURLA COMPLEX,BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
C16665820 |
|
3 |
10301531 |
19/03/2014 * |
600,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
NO.7, MAHATMA
GANDHI ROAD, BANGALORE, KARNATAKA - |
C00716134 |
|
4 |
10264460 |
19/03/2014 * |
675,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C07231715 |
|
5 |
10223548 |
19/03/2014 * |
570,000,000.00 |
STANDARD CHARTERED BANK |
3RD FLOOR,
VAISHNAVI SERENITY, 112, KORAMANGALA |
C00197285 |
|
6 |
10223551 |
19/03/2014 * |
980,000,000.00 |
STANDARD CHARTERED BANK |
3RD FLOOR,
VAISHNAVI SERENITY, 112, KORAMANGALA |
C00196337 |
|
7 |
10177740 |
23/12/2011 * |
600,000,000.00 |
INDUSIND BANK LIMITED |
DU PARC TRINITY,1ST FLOOR,, NO.17, M.G.ROAD,, BANGALORE, KARNATAKA - 560001, INDIA |
B31915184 |
|
8 |
90290246 |
19/03/2014 * |
980,000,000.00 |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
NO. 7, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
C00713446 |
|
9 |
90288990 |
19/05/2005 * |
119,000,000.00 |
THE HONGKONG AND SHJANGHAI BANKING CORPN. LIMITED |
NO. 3; RAJAJI SALAI, CHENNAI, TAMILNADU - 600001, INDIA |
- |
|
10 |
90300975 |
17/01/2002 * |
119,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORP LIMITED |
NO 30 RAJAJI SALAI,
CHENNAI, TAMIL NADU - 600001, |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Foreign currency term loans from banks |
0.000 |
260.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances |
410.000 |
420.000 |
|
|
|
|
|
Total |
410.000 |
680.000 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 3rd,
7th and 8th Floor, Delta Tower, Sigma Soft Tech Park,
No.7, Whitefield Main Road, Bangalore – 560066, Karnataka, India to the present
address.
COMPANY
PERFORMANCE
The Company registered a Gross Retail Turnover of Rs 37320.000 Millions
and a Profit before Tax of Rs. 1620.000 Millions compared to the Profit Before
Tax of Rs 580.000 Millions during the previous year. The Company achieved a
growth of 25.4% in sales and added 5.14 Lakh sq.ft. of retail space.
Lifestyle Department Stores achieved a turnover of Rs. 22590.000
Millions during the year under review, a strong growth of 23.5% over the
previous year. Same store sales posted a growth of 14.6%. As part of its
continuous endeavour to grow and penetrate the market, the Company opened 5
department stores during the year, one each at Chennai, Thane, Dehradun,
Amritsar and Kolkata, taking the total number of stores to 40. Continued focus
on improving operating efficiencies and tighter control on inventory and
operating costs helped the division to improve its bottom line significantly.
Home Centre, the Furniture and Household division of the Company
achieved a turnover of Rs. 4890.000 Millions, a growth of 21% over the previous
year. Same store sales posted a growth of 18.6%. With the opening of a
stand-alone store in Thane, the total number of stand-alone stores went up to
15 while the number of shop-in-shop stores stood at 16. Sustained efforts in
customizing products to meet consumer needs as well as improvement in supply
chain efficiencies helped the division to improve the business performance.
Max performance has been quite remarkable this year with the division
achieving a turnover of Rs. 9840.000 Millions, a growth of 32.6% over the
previous year. The division registered same store sales growth of 14.3%. In
addition to its presence in top 6 cities in the country.
Max has established its footprint in 36 tier 2 cities. Max opened 20
stores during the year taking the total number of stores to 96. Max is expected
to contribute significantly to the Company’s sales and profits in the coming
years.
OUTLOOK
The overall economic outlook is expected to improve with the change of
government at the Centre leading to improved consumer sentiment and spending.
The e-commerce players getting aggressive in the retail space with high
promotional offerings is likely to impact the conventional retail businesses to
a certain extent. The company is also drawing up plans for investment in
e-commerce as an alternate channel to support the physical stores. The Company
is confident of growing its market share and posting a strong growth for the FY
2014-15.
FIXED ASSETS:
·
Land
·
Buildings
·
Office building
·
Plant and equipment
· Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer 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 : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.