MIRA
INFORM REPORT
|
Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE BRANDS LIMITED (w.e.f. 17.12.2007) |
|
|
|
|
Formerly Known
As : |
RELIANCE BRANDS PRIVATE LIMITED |
|
|
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Registered
Office : |
5th Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao,
Mumbai – 400002, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
25.09.2007 |
|
|
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|
Com. Reg. No.: |
11-174470 |
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|
Capital
Investment/ Paid-up Capital: |
Rs. 808.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2007PLC174470 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR22340D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR7395F |
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|
Legal Form : |
A Closely held Public Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in ‘Organised Retail’ in |
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|
No. of
Employees: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
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 but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “Reliance Group”. It is an established company
having moderate track. Management is gradually developing its business highlighted by the growth
in sales volume but has reported consecutive losses which has led to its
accumulation during FY 13. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of upcoming ventures and affiliations backed by experienced
promoters and management, the company
can be considered for business dealings with some 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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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 DENIED
Management Non-Cooperative
Contact No.: 91-22-40613000
LOCATIONS
|
Registered Office : |
5th Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao,
Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-40613561 / 40613000 |
|
Fax No.: |
91-22-40613299 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Ramesh Kumar Damani |
|
Designation : |
Director |
|
Address : |
403, 4th Floor, Usha Kunj, 30D, Juhu Koliwada, Juhu tara
Road, Santacruz, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
06.05.1971 |
|
Date of Appointment : |
26.09.2007 |
|
DIN No. : |
00049764 |
|
|
|
|
Name : |
Pankaj Mohan Pawar |
|
Designation : |
Director |
|
Address : |
302, Archana, Saurabh Plot no.20, Sector – 7, koparkhairane, Navi
Mumbai – 400709, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1972 |
|
Date of Appointment : |
31.03.2010 |
|
DIN No. : |
00085077 |
|
|
|
|
Name : |
Timothy Ralph Wheeler |
|
Designation : |
Director |
|
Address : |
5150, Beech Bluff, Dr. Morganton, North Carolina, USA |
|
Date of Birth/Age : |
19.12.1954 |
|
Date of Appointment : |
29.02.2008 |
|
DIN No. : |
00863237 |
|
|
|
|
Name : |
Arthur Thomas Georg Engel |
|
Designation : |
Director |
|
Address : |
Ostermalmsgatan, 61, 4TR, Stockholm, Sweden |
|
Date of Birth/Age : |
21.11.1967 |
|
Date of Appointment : |
24.09.2008 |
|
DIN No. : |
02335700 |
KEY EXECUTIVES
|
|
|
|
Name : |
Dhirendra Narayan Nanda |
|
Designation : |
Manager and Secretary |
|
Address : |
Flat No.E-52, Dg(S) Housing Society, Plot No. 6, Sector -22, Dwarka, New Delhi –
110075, India |
|
Date of Birth/Age : |
05.06.1965 |
|
Date of Appointment : |
14.04.2011 |
|
PAN No. : |
ABQPN7698J |
|
Name : |
Mr. Darshan Mehta |
|
Designation : |
Chief Executive Officer |
|
Name : |
Mr. Sumeet Yadav |
|
Designation : |
Sr. Vice President |
|
Name : |
Mr. Nitin Chhabra |
|
Designation : |
Sr. Vice President |
|
Name : |
Mr. P K.X Thomas |
|
Designation : |
Sr. Vice President |
|
Name : |
Ms. Niragi Vasavada |
|
Designation : |
Sr. Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Reliance Retail Ventures Limited (Formerly Reliance
Commercial Associates Limited), India |
80859994 |
|
Sudhakar Saraswatula jointly with Reliance Retail Ventures
Limited |
1 |
|
Madhavan Ganesan jointly with Reliance Retail Ventures
Limited |
1 |
|
A Ramaswamy jointly with Reliance Retail Ventures Limited |
1 |
|
Rajendra Madhav Kamath jointly with Reliance Retail
Ventures Limited |
1 |
|
Rohit C Shah jointly with Reliance Retail Ventures Limited |
1 |
|
Sridhar Kothandaraman jointly with Reliance Retail
Ventures Limited |
1 |
|
|
|
|
Total |
80860000 |
AS ON 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in ‘Organised Retail’ in |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India |
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Facilities : |
Note : Term loans are
secured by hypothecation of vehicles and are repayable over a period of 4
years by way of equated monthly instalments. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, 212
Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
PAN No.: |
AAAFC0662N |
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|
|
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Ultimate Holding Company : |
Reliance Industries Limited L17110MH1973PLC019786 |
|
|
|
|
Holding Company: |
·
Reliance Universal Ventures Limited
U51109MH2007PLC167805 ·
Reliance Industrial Investments and Holdings
Limited U65910MH1986PLC041081 ( From 30-11-2012 and upto 05-03-2013) ·
Reliance Commercial Associates Limited (From
30-11-2012) ·
Reliance Retail Limited U17120MH1998PLC114010 (
Upto 29-11-2012) |
|
|
|
|
Subsidiary
company : |
·
Reliance Style Fashion India Private Limited
U51310MH2008PTC178078 ·
Reliance Styles India Limited
U17120MH2008PLC180309 ·
Reliance Lifestyle Holdings Limited U01403MH2007PLC172415 |
|
|
|
|
Joint Ventures: |
·
Diesel Fashion India Reliance Private Limited
U18101GJ2007PTC050985 ·
Reliance Paul and Shark Fashions Private Limited
U74994MH2008PTC180316 ·
Zegna South Asia Private Limited U51909MH2006PTC166092 ·
Iconix Lifestyle India Private Limited
U74999MH2012FTC226582 ·
Brooks Brothers India Private Limited
U74900MH2012PTC227437 |
|
|
|
|
Associate : |
Reliance Fresh Private Limited
U17120MH2008PTC180361 |
|
|
|
|
Fellow
Subsidiary company : |
·
Reliance Supply Chain Solutions Limited ·
Reliance digital Retail Limited
U70102MH2007PLC170415 ·
Strategic Manpower Solutions Limited
U74999MH2007PLC167704 ·
Reliance Retail Limited U01100MH1999PLC120563 ·
Reliance Trends Limited U51909MH2006PLC166165 ·
Reliance Gems and Jewels Limited
U25199MH1998PLC114011 ·
Reliance Leisures Limited U52100MH2007PLC175533 ·
Reliance Retail Limited U17120MH1998PLC114010 |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,860,000 |
Equity Shares |
Rs.10/- each |
Rs. 808.600 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 |
808.600 |
808.600 |
808.600 |
|
(b) Reserves & Surplus |
(483.794) |
(249.262) |
(62.335) |
|
(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) |
324.806 |
559.338 |
746.265 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2231.708 |
841.884 |
1.246 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
189.480 |
0.000 |
0.000 |
|
(d) long-term provisions |
13.474 |
14.344 |
3.073 |
|
Total
Non-current Liabilities (3) |
2434.662 |
856.228 |
4.319 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
84.490 |
65.436 |
27.743 |
|
(c) Other current liabilities |
40.384 |
27.835 |
6.337 |
|
(d) Short-term provisions |
0.247 |
0.266 |
2.817 |
|
Total
Current Liabilities (4) |
125.121 |
93.537 |
36.897 |
|
|
|
|
|
|
TOTAL |
2884.589 |
1509.103 |
787.481 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
403.516 |
362.617 |
274.304 |
|
(ii) Intangible Assets |
11.963 |
1.434 |
0.190 |
|
(iii) Capital work-in-progress |
54.956 |
2.829 |
2.379 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
982.198 |
411.458 |
291.058 |
|
(c) Deferred tax assets (net) |
246.659 |
117.448 |
29.861 |
|
(d) Long-term Loan and Advances |
856.883 |
432.789 |
134.278 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2556.175 |
1328.575 |
732.070 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
187.603 |
102.921 |
21.385 |
|
(c) Trade receivables |
45.848 |
20.178 |
0.126 |
|
(d) Cash and cash equivalents |
41.411 |
2.515 |
0.664 |
|
(e) Short-term loans and
advances |
53.552 |
54.914 |
33.236 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
328.414 |
180.528 |
55.411 |
|
|
|
|
|
|
TOTAL |
2884.589 |
1509.103 |
787.481 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
612.825 |
301.191 |
24.122 |
|
|
Other Income |
0.229 |
0.179 |
0.035 |
|
|
TOTAL
(A) |
613.054 |
301.370 |
24.157 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of Stock-in-Trade |
293.115 |
174.275 |
30.101 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(78.620) |
(81.536) |
(21.385) |
|
|
Employees benefits expense |
322.884 |
212.781 |
64.236 |
|
|
Other Expenses |
397.166 |
240.571 |
41.277 |
|
|
TOTAL
(B) |
934.545 |
546.091 |
114.229 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(321.491) |
(244.721) |
(90.072) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.818 |
0.296 |
0.145 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(322.309) |
(245.017) |
(90.217) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
41.434 |
29.497 |
1.979 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(363.743) |
(274.514) |
(92.196) |
|
|
|
|
|
|
|
Less |
TAX
(H) |
(129.211) |
(87.587) |
(29.861) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
(234.532) |
(186.927) |
(62.335) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Stores parts |
202.090 |
123.274 |
20.338 |
|
|
Capital Goods |
35.730 |
24.230 |
18.232 |
|
|
TOTAL
IMPORTS |
237.820 |
147.504 |
38.570 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.90) |
(2.31) |
(107.15) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(38.26) |
(62.03) |
(258.04) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(59.36) |
(91.14) |
(382.21) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(22.72) |
(28.09) |
(19.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.12) |
(0.49) |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.87 |
1.51 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.62 |
1.93 |
1.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
808.600 |
808.600 |
808.600 |
|
Reserves & Surplus |
(62.335) |
(249.262) |
(483.794) |
|
Net
worth |
746.265 |
559.338 |
324.806 |
|
|
|
|
|
|
long-term borrowings |
1.246 |
841.884 |
2231.708 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1.246 |
841.884 |
2231.708 |
|
Debt/Equity
ratio |
0.002 |
1.505 |
6.871 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
24.122 |
301.191 |
612.825 |
|
|
|
1,148.615 |
103.467 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
24.122 |
301.191 |
612.825 |
|
Profit/(Loss) After Tax |
(62.335) |
(186.927) |
(234.532) |
|
|
-258.42% |
-62.06% |
-38.27% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
2.219 |
0.999 |
0.642 |
|
|
|
|
|
|
Total |
2.219 |
0.999 |
0.642 |
|
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 |
No |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10402605 |
17/01/2013 |
10,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B67940015 |
|
2 |
10154315 |
30/03/2009 |
5,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A60806726 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from other |
2226.811 |
839.631 |
|
Total |
2226.811 |
839.631 |
|
Represents
amounts borrowed from the Ultimate holding Company and the holding Company
for the period of 3 and 5 years respectively. |
||
OPERATIONAL
REVIEW:
During the
year the Company signed license
agreements with Supergroup Plc for its brand “Superdry”, Dune Group U.K for its
flagship brand “Dune” and Stuart Weitzman LLC for its brand ?Stuart Weitzman?
and entered into a Joint Venture agreement with Brooks Brothers Group, Inc.
USA.
During the year
Company launched Kenneth Cole’ and Thomas Pink? brands by opening their first
mono brand store in Mumbai and Delhi, respectively.
The Company
currently operates 11 mono brand stores and 11 Shop-In-Shop’s for its brand ‘Timberland’
and 7 mono brand stores for its brand ‘Steve Madden’ and during the year
launched its first mono brand ecommerce website - stevemadden.in.
SUBSIDIARY
COMPANIES:
The audited
statement of accounts of Reliance Style Fashion India Private Limited, Reliance
Styles India Limited and Reliance Lifestyle Holdings Limited, wholly owned
subsidiaries of the Company, together with the Reports of the Board of
Directors and Auditors for the year ended March 31, 2013 are attached as
required under Section 212 of the Companies Act, 1956.
NOTE
The registered office of the company has been shifted from Reliance
Corporate Park, Building No. 4, Ground Floor, ‘C’ Wing, Thane- Belapur Road,
Gansoli, Navi Mumbai-400701, Maharashtra, India to the present address.
FIXED ASSETS
·
Plant and Machinery
·
Equipments
·
Furniture and Fixture
·
Vehicles
·
Office Equipment
·
Computer
WEBSITE DETAILS
NEWS
RELIANCE BRANDS TO LAUNCH AMERICAN FASHION LABEL BCBG MAX
AZRIA
Jun 14, 2014
MUMBAI: Reliance Brands, a unit of Reliance
Industries, has signed a long-term franchise agreement with American fashion
house BCBG Max Azria, famous for dressing up scores of Hollywood A-listers like
Angelina Jolie and Halle Berry. BCBG will be the first women's only apparel
brand in Reliance's portfolio, which includes Kenneth Cole, Diesel, Brooks
Brothers besides a dozen other brands. The Mukesh Ambani-led Reliance will open
standalone stores of BCBG Max Azria, the flagship label of the billion dollar
group, and BCBGeneration, the lower priced, younger brand from the stable here
in India by next year, a company executive told TOI in an exclusive
interaction.
The prices for the flagship BCBG Max Azria will range from Rs 6,000 and Rs 20,000 while that for Generation
will be between Rs 4,000-12,000.
The Tunisian-born French designer Max Azria,
founded the group 25 years ago in Los Angeles, is credited for offering fashion
at affordable prices much before brands like Zara and H&M democratised
fashion. BCBG stands for 'bon chic, bon genre,' a Parisian slang which means
'good style, good attitude.'
Darshan Mehta, president & CEO,
Reliance Brands, said the first two stores for BCBC Max Azria will open in
Delhi and Mumbai next year followed by stores for BCBGeneration. " BCBG is
a brand which will be aspirational for most Indian women, who want to graduate
from consuming only fast fashion, but accessible due to its affordable
pricing," he said. Internationally, BCBG competes with the likes of Max Mara
and Theory.
Sophie Rietdyk, president of licensing and
international at BCBG Max Azria group said, "In collaboration with
Reliance we will become an influential force in the India fashion and lifestyle
arena." The fashion house has been faced with financial woes over the past
few years with talks of Max Azria losing control of his eponymous label to
Guggenheim Partners which holds a big chunk of the company's debt. The LA-based
group also runs Max Azria Atelier and a luxury line Herve Leger by Max Azria.
It has presence across 700 standalone and shop-in-shop stores globally.
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.60.43 |
|
|
1 |
Rs.97.25 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
33 |
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.