MIRA
INFORM REPORT
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Report No. : |
335586 |
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Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
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Name : |
TRENT LIMITED |
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Registered
Office : |
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Tel. No.: |
91- 22-66658282 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
05.12.1952 |
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Com. Reg. No.: |
11-008951 |
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Capital
Investment / Paid-up Capital : |
Rs. 332.315 Million |
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CIN No.: [Company Identification
No.] |
L24240MH1952PLC008951 |
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IEC No.: |
0795011351 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACL1838J |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The subject is engaged into Retailing Business. |
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No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (74) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long Term Instruments-Non-Convertible
Debentures=AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
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Date |
13.03.2015 |
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Rating Agency Name |
CARE |
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Rating |
Bank Facilities-Non-Fund Based-ST-BG/LC=A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
13.03.2015 |
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
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pratik Shah |
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Designation : |
Accountant |
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Contact No.: |
91-22-67008487 |
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Date : |
04.08.2015 |
LOCATIONS
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Registered Office : |
Bombay House, 24, Homi Mody Street, Fort, Mumbai-400001, Maharashtra,
India |
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Tel. No.: |
91- 22-66658282/ 67008487/ 67009000 |
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Fax No.: |
91- 22-2204208/ 22042081 |
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E-Mail : |
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Website : |
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Corporate Office : |
Trent House, 10th Floor, G Block, Plot No. C-60, Next to
Citi Bank, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India |
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Tel. No.: |
91-22
- 67009000 |
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Fax No.: |
91-22
- 67008100 |
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E-Mail : |
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Stores : |
Located at: · Bangalore Chennai Hyderabad Kolkata Pune New Delhi Mumbai Nagpur Ahmedabad Indore Noida Vadodara Ghaziabad Jaipur Ludhiana Surat Rajkot Navi Mumbai Gurgaon Faridabad Nashik Hyderabad Raipur Mangalore Thane Kanpur Coimbatore Varanasi Jalandhar Guwahati Mysore Jammu Bhopal Aurangabad Sangli Jabalpur Dehradun Udaipur Bareilly Trichy Kurnool Vijayawada Allahabad Thrissur Kochi Siliguri |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Noel Naval Tata |
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Designation : |
Director |
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Address : |
Windmere Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
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Date of Appointment : |
05.08.2011 |
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DIN No.: |
00024713 |
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Name : |
Mr. Aspy Dady Cooper |
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Designation : |
Director |
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Address : |
Flat No. 502, Wing-A, 5th Floor, Vivarea Tower,, Sane Guruji Marg, Jacob Circle, Mahalaxmi, Mumbai-400011, Maharashtra, India |
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Date of Birth/Age : |
23.08.1940 |
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Qualification : |
·
B.Com F.C.A. |
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Experience : |
Mr. A. D. Cooper has varied experience in
field of Finance, Management and Audit. |
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Date of Appointment : |
14.08.2014 |
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DIN No.: |
00026134 |
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Name : |
Mr. Zubin Soli Dubash |
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Designation : |
Director |
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Address : |
4001/4101 Celesta Chs-Old Simplex Mills
Compound, 30 Keshavrao Khadye Marg, Mahalaxmi East, Mumbai-400011, Maharashtra,
India |
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Date of Birth/Age : |
16.08.1959 |
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Qualification : |
·
B. Com MBA (Wharton) A.C.A. (England and Wales) |
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Experience : |
Mr. Z. S. Dubash has varied experience in
the field of Finance, Management and Business Development |
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Date of Appointment : |
14.08.2014 |
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DIN No.: |
00026206 |
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Name : |
Mr. Bhaskar Bhat |
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Designation : |
Director |
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Address : |
No.884 Chaitanya Plot, Indiranagar First
Stage, Bangalore-560038, Karnataka, India |
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Date of Birth/Age : |
29.08.1954 |
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Qualification : |
·
IIT Chennai IIM Ahmedabad |
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Experience : |
Mr. B. Bhat is the Managing Director of
Titan Company Limited. He has rich experience in the areas of Sales,
Marketing, HR, International Business, etc. |
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Date of Appointment : |
05.08.2011 |
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DIN No.: |
00148778 |
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Name : |
Mr. Bahram Navroz Vakil |
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Designation : |
Director |
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Address : |
Neptune Court, First Floor,, 60,
Nepeansea Road,, Mumbai-400006, Maharashtra, India |
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Date of Birth/Age : |
12.09.1958 |
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Qualification : |
·
Bachelor of Law, Mumbai University Advocate Bar Council of Maharashtra and Goa LLM, Columbia University, New York, USA Member, New York State Bar
Association Solicitor, India |
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Experience : |
Mr. B. N. Vakil has varied experience in field of Infrastructure and
Project Finance, Banking, Finance and Derivatives, Joint Ventures,
Acquisitions, Restructuring of Companies, Corporate Law, Private Equity Funds
and Venture Capital |
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Date of Appointment : |
14.08.2014 |
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DIN No.: |
00283980 |
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Name : |
Mr. Harish Ramananda Bhat |
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Designation : |
Director |
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Address : |
No A-1053, Krest Park Apartments, 39 Old
Kanakapura Road, Basavanagudi, Bangalore-560004, Karnataka, India |
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Date of Birth/Age : |
08.11.1962 |
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Qualification : |
Alumnus of BITS Pilani and IIM Ahmedabad |
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Experience : |
Mr. H. Bhat is a member of the Group Executive Council (GEC) of Tata
Sons. During his career with the Tata Group, he has served in several senior
roles which include Managing Director and CEO of Tata Global Beverages, Chief Operating Officer of the Watches and Jewellery businesses of Titan
Company. |
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Date of Appointment : |
14.08.2014 |
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DIN No.: |
00478198 |
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|
Name : |
Mr. Simon Norman Susman |
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Designation : |
Director |
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Address : |
Po Box 680, Cape Town, Cape Town-8000, South Africa |
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Date of Birth/Age : |
01.05.1950 |
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Qualification : |
St. Andrew’s College Grahamstown (Mat.) |
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Experience : |
Mr. S. Susman has rich overseas experience in the retail business. Currently, he is the Chairman of Woolworths Holdings Limited, South Africa and is a Director of many eminent companies overseas. |
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Date of Appointment : |
14.08.2014 |
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DIN No.: |
03503013 |
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Name : |
Mr. Philip Noel Auld |
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Designation : |
Managing director |
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Address : |
Trent House, G-Block, Plot No. C-60, Beside Citi, Bank, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
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Date of Appointment : |
04.11.2014 |
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DIN No.: |
03543080 |
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Name : |
Mrs. Sonia Singh |
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Designation : |
Additional director |
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Address : |
GM, Konstancin- Jeziorna Woj Mazowieckie,
Bielawa Ul. Stanislawa Lema 1, Konstancin Jeziorna-05520, Poland |
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Date of Appointment : |
03.03.2015 |
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DIN No.: |
07108778 |
KEY EXECUTIVES
|
Name : |
Mr. Mehemosh Mirzban Surti |
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Designation : |
Secretary |
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Address : |
Glamourelen, 6TH Floor, Flat No. 23, 100, DR. Ambedkar Road, Bandra (West), Mumbai-400050, Maharashtra, India |
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Date of Appointment : |
01.04.2009 |
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PAN No.: |
AAAPS6585N |
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Name : |
Mr. Venkatesalu Palaniswamy |
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Designation : |
Chief Finance Officer |
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Address : |
Tata Colony Falcon Crest Flat No 102, G D Ambekar Marg, Parel Tank Road, Parel, Mumbai-400017, Maharashtra, India |
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Date of Appointment : |
28.05.2014 |
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PAN No.: |
ACRPV6412C |
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|
Name : |
Mr. Pratik Shah |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter
Group |
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|
|
10838015 |
32.61 |
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|
10838015 |
32.61 |
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Total shareholding of Promoter and Promoter
Group (A) |
10838015 |
32.61 |
|
(B) Public Shareholding |
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|
4050817 |
12.19 |
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|
7128 |
0.02 |
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|
1250223 |
3.76 |
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|
1119484 |
3.37 |
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|
6682020 |
20.11 |
|
|
517506 |
1.56 |
|
|
517506 |
1.56 |
|
|
13627178 |
41.01 |
|
|
|
|
|
|
2904181 |
8.74 |
|
|
|
|
|
|
5424861 |
16.32 |
|
|
344062 |
1.04 |
|
|
93247 |
0.28 |
|
|
1253 |
0.00 |
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|
91994 |
0.28 |
|
|
8766351 |
26.38 |
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Total Public shareholding (B) |
22393529 |
67.39 |
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Total (A)+(B) |
33231544 |
100.00 |
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
33231544 |
100.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
AS a
% |
|
1 |
Tata Sons Limited |
88,29,247 |
26.57 |
|
2 |
Tata Investment Corporation Limited |
15,20,754 |
4.58 |
|
3 |
Af-Taab Investment Company Limited |
3,87,714 |
1.17 |
|
4 |
Ewart Investments Limited |
1,00,000 |
0.30 |
|
5 |
Titan Industries Limited |
300 |
0.00 |
|
|
Total |
1,08,38,015 |
32.61 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
AS a
% |
|
1 |
Arisaig Partners Asia Pte Limited A/c Arisaig India Fund Limited |
3285000 |
9.89 |
|
2 |
Reliance Capital Trustee Company Limited A/c Reliance Equity Opportunities Fund |
2633977 |
7.93 |
|
3 |
Dodona Holdings Limited |
1781756 |
5.36 |
|
4 |
PI Opportunities Fund I |
921223 |
2.77 |
|
5 |
SBI Life Insurance Company Limited |
881094 |
2.65 |
|
6 |
Derive Trading Private Limited |
903061 |
2.72 |
|
7 |
Reliance Capital Trustee Company Limited A/c Reliance Tax Saver (ELSS) Fund |
603000 |
1.81 |
|
8 |
Master Trust Bank of Japan Limited As Trustee of Nissay India Equity Selection Mother Fund |
428341 |
1.29 |
|
9 |
Morgan Stanley Asia (Singapore) PTE |
349667 |
1.05 |
|
|
Total |
11787119 |
35.47 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons (together with PAC) belonging to the
category “Public” and holding more than 5% of the total number of shares of the
company
|
Sl. No. |
Name(s) of the shareholder(s)
and the Persons Acting in Concert (PAC) with them |
No. of Shares |
AS a
% |
|
1 |
Arisaig Partners Asia Pte Limited A/c Arisaig India Fund Limited |
3285000 |
9.89 |
|
2 |
Reliance Capital Trustee Company Limited A/c Reliance Equity Opportunities Fund |
2633977 |
7.93 |
|
3 |
Dodona Holdings Limited |
1781756 |
5.36 |
|
|
Total |
7700733 |
23.17 |
BUSINESS DETAILS
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Line of Business : |
The subject is engaged into Retailing Business. |
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Products : |
-- |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
3000 (Approximately) |
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Bankers : |
· Citibank N.A. ICICI Bank Limited HDFC Bank Limited |
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Facilities : |
Note: During the year 2010-11, the Company issued 1,000
Redeemable Non-Convertible Debentures April 10 Series-I of Rs. 1.000 million each
on private placement basis. These Debentures are free of interest and are
redeemable at a premium of Rs. 0.600 million each on 14th April 2015. The
Premium payable on redemption of these Debentures has been fully provided and
debited to Securities Premium Account net of deferred tax in 2010-11.These
Debentures are secured by way of charge on immovable property of the company
in favour of Debenture Trustees as stipulated in the Debenture Trust Deed and
1.25 times asset cover will be maintained by the company on continuous basis. |
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Banking
Relations : |
-- |
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Auditors : (As on 31.03.2014) |
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|
Name : |
N.M Raiji and Company Chartered Accountant |
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Address : |
Universal Insurance Building, Pherozeshah Mehta Road, Mumbai-400001, Maharashtra,
India |
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Tel. No.: |
91-22-22870068/ 22873463 |
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Fax No.: |
91-22-22828646/ 22650578 |
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E-Mail : |
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Solicitors: (As on 31.03.2014) |
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Name : |
AZB and Partners |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates (As on 31.03.2014): |
Tata Sons Limited (Holds more than 20% of the Share Capital of the Company) |
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Joint Ventures : (As on 31.03.2014) |
Inditex Trent Retail India Private Limited (49% Equity Share Capital is held by Trent Limited as at 31st March,
2014) |
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Subsidiaries : (As on 31.03.2014) |
(100% Equity Share Capital is held by Trent Limited as at 31st March, 2014)
(89.88% Equity Share Capital is held by Trent Brands Limited as at 31st March, 2014)
(100% Equity Share Capital is held by Trent Limited as at 31st March, 2014)
(100% Equity Share Capital is held by Trent Limited as at 31st March, 2013)
(85.94% Equity Share Capital is held by Trent Limited as at 31st March, 2013) (14.06% Equity Share Capital is held by Fiora Link Road Properties Limited as at 31st March, 2013)
(96.64% Equity Share Capital is held by Trent Limited as at 31st March, 2014)
(100% Equity Share Capital is held by Trent Limited on account of merger ; as at 31st March, 2014)
(100% Equity Share Capital is held by Trent Limited as at 31st March, 2014)
(100% Equity Share Capital is held by Trent Limited as at 31st March, 2014)
(100% Equity Share Capital is held by Trent Limited as at 31st March, 2013)
(100% Equity Share Capital is held by Trent Limited w.e.f 29th March , 2014)
(51% Equity Share Capital is held by Westland Limited as at 31st March,2014)
(66.66% Equity Share Capital is held by Trent Hypermarket Limited as at 31.03.2014) (33.34 % Equity Share Capital is held by Trent Limited as at 31.03.2014)
(100% Equity Share Capital is held by Virtuous Shopping Centres Limited as at 31st March, 2014) |
* The company has merged with Trent Limited in Current year.
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 332.315 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47250000 |
Equity Shares |
Rs. 10/- each |
Rs. 472.500 Million |
|
3000000 |
Unclassified Shares |
Rs. 10/- each |
Rs. 30.000 Million |
|
1630000 |
Preference Shares |
Rs. 100/- each |
Rs. 163.000 Million |
|
70000 |
Preference Shares |
Rs.1000/- each |
Rs. 70.000 Million |
|
12000000 |
Cumulative Convertible Preference shares |
Rs. 10/- each |
Rs. 120.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 855.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33231544 |
Equity Shares |
Rs. 10/- each |
Rs. 332.300 Million |
|
|
|
|
|
Details of share issued for consideration other than cash
70000 Cumulative Redeemable preference shares were
allotted as fully paid pursuant to scheme of Amalgamation without payment being
received in cash during the financial year 2009-2010.
Terms/ Rights attached to equity shares
The company has equity share having par value of Rs. 10 per share. Each holder of equity shares is entitled to
one vote per share. The shareholders have the right to receive interim
dividends declared by the Board of Directors and final dividends proposed by
the Board of Directors and approved by the shareholders. In the event of
liquidation of the company, the holders of equity shares will be entitled to
receive In the event of liquidation of the Company, the holders of Equity shares
will be entitled to receive any of the remaining assets of the Company, after
distribution of Preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders. The equity shareholders
have all other rights as available to the equity shareholders as per the
provisions of Companies Act, 1956 read together with the Memorandum of
Association and Articles of Association of the Company as applicable.
Terms/rights attached to Preference shares
(i)
The Company has 0.1% Cumulative Redeemable
Preference Shares having a par value of Rs. 1000/- each. The shares are
entitled for a dividend of 0.1% per annum on the capital for the time being
paid up there on. The voting rights of the persons holding the said shares
shall be in accordance with the provisions of Sec 87 of the Companies Act,
1956. The said shares rank for dividend in priority to the equity shares for
the time being of the Company. The said shares shall, in the case of winding of
entitled to rank, as regards repayment of Capital and arrears of dividend,
whether declared or not up to the commencement on the winding up, in priority
to equity shares but shall not be entitled to any further participation in
profits or assets. The term of the 0.1% Cumulative Redeemable Preference Shares
is of 20 years from 26th March 2010, being the date of allotment, with an
option to the Company to redeem the Preference Shares at any time after 36
months from the date of allotment. The Board of Directors at their meeting held
on 26th April 2010 have fixed 1st June 2013 as the date of redemption of the
Preference Shares.
(ii)
During the year 2010-11, the Company had issued
4451414 0. 1% Cumulative Compulsorily Convertible Preference Shares (CCPS)
Series A of Rs. 10/- @Rs 550 each and 4451414 0.1% Cumulative Compulsorily
Convertible Preference Shares (CCPS) Series B of Rs. 10/- @Rs. 550 each to the
Equity Shareholders on Right basis in the ratio of 4 CCPS(2 series A and 2
Series B) for every 9 Equity Shares held. Each CCPS of Series A is Convertible
into 1 Equity Share of Rs.10 each at premium of Rs. 540 automatically on 1st
September 2011 and the same has been converted into equity shares during the
year 2011-12 and each CCPS of Series B has been converted in to Equity Share of
Rs. 10/- each premium of Rs. 540/- during the year. Until conversion, CCPS of
both series will be eligible for a dividend of 0.1% p.a on their face value.
The voting rights of the persons holding the CCPS shall be in accordance with
the provisions of Sec 87 of the Companies Act, 1956. The CCPS rank for dividend
in priority to the equity shares for the time being of the company. The CCPS
shall, in the case of winding up, entitled to rank, as regards repayment of
Capital and arrears of dividend, whether declared or not up to the commencement
on the winding up, in priority to equity shares, but shall not be entitled to
any further participation in profits or assets.
Reconciliation of Share Capital
|
Particular |
Number
of Shares |
Rs.
In Million |
|
i)
Equity shares |
|
|
|
Number of shares at the beginning |
33231544 |
332.300 |
|
Number of shares
at the end |
33231544 |
332.300 |
|
ii)
0.1% Cumulative Redeemable Preference shares |
|
|
|
Number of shares at the beginning and at the end |
70000 |
70.000 |
|
Less: Redeemed during the year |
70000 |
70.000 |
The details of shareholders holding more than 5 % shares are as under:
|
Particular |
Number
of Shares |
% to total shares |
|
Tata Sons Limited |
8744247 |
26.31 |
|
Arisag Partners ( |
3285000 |
9.89 |
|
Reliance Capital Trustee Co Limited A/c Reliance Equity Opportunities
Fund* |
2353845 |
7.08 |
|
0.1% Cumulative Redeemable Preference shares |
|
|
|
Hemlatha Ramaiah |
-- |
-- |
The above details in respect of (i) and (iii) are as certified by the Registrar
and Share transfer Agents and in respect of (ii) is as per the maintained by
the company
Details of shares reserved for issue under options
As at 31.03.2014, the Company does not have any outstanding options
(i)
During the year the Company issued 1530611 Equity
Shares of Rs. 10/- each @ Rs. 980 per share to certain entities of the Promoter
group on preferential basis in compliance with SEBI Preferential Issue
Guidelines.
*Authorised share capital:
Landmark Limited, Fiora Link Road Properties Limited and Trexa ADMC Private Limited have been merged with Trent vide order of Bombay High Court dt 21st march 2014. Appointed date of the merger is 1st April 2013. In terms of scheme of merger authorised share capital of Landmark Limited, Fiora Link Road Properties Limited and Trexa ADMC Private Limited have been added to the authorised share capital of Trent.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
332.315 |
332.300 |
402.300 |
|
(b) Reserves & Surplus |
13386.924 |
12831.900 |
14988.000 |
|
(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) |
13719.239 |
13164.200 |
15390.300 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
750.000 |
2250.000 |
2250.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
5.800 |
0.000 |
|
(c) Other long
term liabilities |
26.075 |
26.100 |
0.000 |
|
(d) long-term
provisions |
367.257 |
1098.200 |
1081.200 |
|
Total Non-current
Liabilities (3) |
1143.332 |
3380.100 |
3331.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1426.352 |
1634.200 |
1191.600 |
|
(c)
Other current liabilities |
2139.478 |
536.500 |
548.000 |
|
(d) Short-term
provisions |
1192.971 |
309.900 |
310.200 |
|
Total Current
Liabilities (4) |
4758.801 |
2480.600 |
2049.800 |
|
|
|
|
|
|
TOTAL |
19621.372 |
19024.900 |
20771.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4339.398 |
3356.000 |
2777.300 |
|
(ii)
Intangible Assets |
0.000 |
73.400 |
49.900 |
|
(iii)
Capital work-in-progress |
0.000 |
363.600 |
260.100 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10128.082 |
7548.000 |
9889.700 |
|
(c) Deferred tax assets (net) |
39.561 |
0.000 |
58.300 |
|
(d) Long-term Loan and Advances |
716.061 |
1474.000 |
2024.800 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
15223.102 |
12815.000 |
15060.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
246.369 |
1076.000 |
514.700 |
|
(b)
Inventories |
2503.667 |
2645.300 |
1852.300 |
|
(c)
Trade receivables |
22.094 |
38.600 |
29.400 |
|
(d) Cash
and cash equivalents |
286.208 |
328.500 |
1433.300 |
|
(e)
Short-term loans and advances |
1331.519 |
2047.400 |
1835.200 |
|
(f) Other
current assets |
8.413 |
74.100 |
46.300 |
|
Total
Current Assets |
4398.270 |
6209.900 |
5711.200 |
|
|
|
|
|
|
TOTAL |
19621.372 |
19024.900 |
20771.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13232.964 |
12544.000 |
9358.000 |
|
|
|
Other Income |
1091.674 |
648.100 |
603.900 |
|
|
|
TOTAL (A) |
14324.638 |
13192.100 |
9961.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
13.747 |
9.100 |
16.900 |
|
|
|
Purchases of Stock-in-Trade |
6658.237 |
6853.000 |
4937.400 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
138.379 |
(168.500) |
(56.700) |
|
|
|
Employees benefits expense |
1239.898 |
1044.800 |
728.700 |
|
|
|
Other expenses |
4980.826 |
4538.000 |
3260.100 |
|
|
|
Exceptional items |
(564.017) |
(93.300) |
22.800 |
|
|
|
TOTAL (B) |
12467.070 |
12183.100 |
8909.200 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1857.568 |
1009.000 |
1052.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
70.336 |
70.500 |
78.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1787.232 |
938.500 |
973.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
398.358 |
256.000 |
166.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1388.874 |
682.500 |
807.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
388.577 |
140.100 |
185.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1000.297 |
542.400 |
622.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1011.900 |
921.600 |
701.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Proposed
Dividend on Equity share |
NA |
232.600 |
232.600 |
|
|
|
Proposed
Dividend on Preference Shares |
NA |
0.000 |
0.100 |
|
|
|
Tax
on Dividend |
NA |
39.500 |
39.500 |
|
|
|
Transfer
to Debenture Redemption Reserve |
NA |
50.000 |
50.000 |
|
|
|
Transfer
to general reserve |
NA |
60.000 |
80.000 |
|
|
|
Transfer to Capital Redemption Reserve |
NA |
70.000 |
0.000 |
|
|
|
BALANCE CARRIED TO THE
B/S |
NA |
1011.900 |
921.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
Sales of Goods |
NA |
226.800 |
159.600 |
|
|
|
TOTAL EARNINGS |
NA |
226.800 |
159.600 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Finished Goods |
NA |
644.900 |
391.800 |
|
|
|
Capital Goods |
NA |
7.300 |
5.400 |
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
NA |
652.200 |
397.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.10 |
16.32 |
20.34 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
50.900 |
555.300 |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
79.900 |
408.800 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.56 |
4.31 |
11.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.04 |
8.04 |
11.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.69 |
4.86 |
9.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.04 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.05 |
0.17 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
2.50 |
2.79 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
|
|
|
Market Value |
Rs. 1204.00/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
402.300 |
332.300 |
332.315 |
|
Reserves & Surplus |
14988.000 |
12831.900 |
13386.924 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15390.300 |
13164.200 |
13719.239 |
|
|
|
|
|
|
Long-term borrowings |
2250.000 |
2250.000 |
750.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
2250.000 |
2250.000 |
750.000 |
|
Debt/Equity
ratio |
0.146 |
0.171 |
0.055 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
9358.000 |
12544.000 |
13232.964 |
|
|
|
34.046 |
5.492 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
9358.000 |
12544.000 |
13232.964 |
|
Profit |
1052.700 |
540.306 |
1000.297 |
|
|
11.25% |
4.31% |
7.56% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 05/01/2015 |
|||||||
|
Lodging No:- |
ARBPL/19/2015 |
Filing Date:- |
05/01/2015 |
Reg. No.:- |
ARBP/685/2015 |
Reg. Date:- |
24./04/2015 |
|
|
|||||||
|
Petitioner:- |
AMAZON DEVELOPERS AND 4 ORS. |
Respondent:- |
TRENT LIMITED AND 2 ORS.- |
||||
|
Petn. Adv.: |
M/S. THAKORE JARIWALA AND ASSOCIATES |
|
|||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
SINGLE |
||||||
|
Status:- |
Pre-Admission |
Category:- |
ARBITRATION ACT. |
||||
|
Last Date:- |
31/03/2015 |
Stage:- |
FOR REJECTION [ORGINIAL SIDE MATTERS] |
||||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|
|||||
|
Act:- |
Arbitration and Conciliation Act 1996 |
Under Section:- |
34 |
||||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|
|
||||
|
|
|||||||
|
Act:- |
Income Tax Act, 1961 |
Under Section:- |
260A |
||||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10123036 |
02/08/2008 |
200,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL WEST |
A45907193 |
|
2 |
10052735 |
16/04/2007 |
191,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL WEST |
A15667512 |
|
3 |
10022189 |
08/09/2006 |
80,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL
WEST |
A05624945 |
|
4 |
10008058 |
21/02/2013 * |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL |
B70824859 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
Non-Convertible Debentures - June 10 Series 1 |
450.000 |
|
Non-Convertible Debentures - June 10 Series 2 |
300.000 |
|
Non-Convertible Debentures - April 10 Series 2 |
500.000 |
|
Total |
1250.000 |
Note:
During the year 2010-11, the Company issued 500 Redeemable Non-Convertible Debentures April 10 Series 2 of Rs.1.000 million each on private placement basis. These Debentures carry a coupon rate of 5%p.a of interest and are redeemable at a premium of Rs.0.300 million each on 27th April 2015.The Premium payable on redemption of these Debentures has been fully provided and debited to Securities Premium Account net of deferred tax in 2010-11.
(3) During the year 2010-11, the Company issued 450
Redeemable Non-Convertible Debentures June 2010 Series 1 of Rs.1.000 million
each and 300 Redeemable Non-Convertible Debentures June 2010 Series 2 of
Rs.1.000 million each on private placement basis. Series I Debentures will
carry an interest @ 9.75%p.a and are redeemable at par on 30th June 2017 and
series 2 Debentures are free of Interest and will be redeemed at premium of
Rs.0.900 million on 30th June 2017 .The premium payable on redemption of Series
2 Debentures has been fully provided and debited to Securities Premium Account
net of deferred tax in 2010-11.
FINANCIAL RESULTS (As
on 31.03.2014)
Income for the year at Rs. 13192.100 millions increased by 32.43% from the previous year’s Rs. 9961.900 millions while profit after tax for the year at Rs. 542.400 millions decreased by 12.88% from the previous year’s Rs. 622.600 millions. The operating results of the Company for the year ended 31st March 2014 are lower consequent to the merger of Landmark Limited, Fiora Link Road Properties Limited and Trexa ADMC Private Limited with the Company.
SCHEME
OF AMALGAMATION AND ARRANGEMENT (As
on 31.03.2014)
The Hon’ble High Court of
Judicature at Bombay on 21st March 2014 approved the Scheme of Amalgamation and
Arrangement between Landmark Limited, Fiora Link Road Properties Limited and
Trexa ADMC Private Limited with Trent Limited (“the Company”) and their respective
Shareholders and Creditors (“the Scheme”). The Scheme became effective on 23rd
April 2014 upon obtaining all sanctions and approvals as required under the
Scheme. The Appointed Date for the merger is 1st April 2013. As Landmark
Limited, Fiora Link Road Properties Limited and Trexa ADMC Private Limited were
wholly owned subsidiaries of the Company, no shares of the Company were issued
and allotted pursuant to the Scheme.
FIXED ASSETS:
Tangible Assets
- Leasehold
Land
- Building
- Plant and
Equipment
- Furniture and
Fixtures
- Office
Equipment
- Computers
- Vehicle
Intangible Assets
- Brands /
Trademarks
- Computer
Software
- Non Compute
Fees
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. 63.93 |
|
|
1 |
Rs. 99.82 |
|
Euro |
1 |
Rs. 70.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
74 |
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.