MIRA INFORM REPORT
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Report No. : |
337318 |
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Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SHOPPERS STOP LIMITED |
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Registered
Office : |
Eureka Towers, B Wing, 9th Floor, plot No. 504, Mindspace Link Road, Malad (West), Mumbai –
400064, Maharashtra |
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Tel. No.: |
91-22-42497000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
16.06.1997 |
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Com. Reg. No.: |
11-108798 |
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Capital
Investment / Paid-up Capital : |
Rs. 416.839 Million |
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CIN No.: [Company Identification
No.] |
l51900mh1997plc108798 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
mums39981E / MUMS22857C |
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PAN No.: [Permanent Account No.] |
AABCS4383A |
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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
: |
Subject
is engaged in the business of retailing a variety of household and consumer
products through departmental stores. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
A (66) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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NB |
New Business |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well-established and reputed company having fine track
record. The rating reflects company’s healthy financial risk profile marked by
established track record of business operation in the retail industry along
with strong brand loyalty among its consumers and adequate liquidity position
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 |
CRISIL |
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Rating |
Commercial Paper Programme: “A1” |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
23.01.2015 |
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 DENIED BY
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-42497000)
LOCATIONS
|
Registered/ Service Office: |
Eureka Towers, B-Wing, 9th Floor, plot No. 504, Mindspace Link Road, Malad (West), Mumbai –
400064, Maharashtra, India |
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Tel. No.: |
91-22-42497000 |
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Fax No.: |
91-22-28808877/ 28445060 |
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E-Mail : |
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Website : |
www.shoppersstop.com
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Store locations : |
Western Region 1. 211-D, S. V. Road, Andheri (West), Mumbai – 400058, Maharashtra, India 2. Krushal Commercial Complex, G. M. Road, Chembur (West), Mumbai – 400089, Maharashtra, India 3. Suburbia, Old Bandra Talkies, Linking Road, Bandra (West), Mumbai – 400050, Maharashtra, India 4. Nirmal Lifestyles, L. B. S. Marg, Mulund (West), Mumbai – 400080, Maharashtra, India 5. lnorbit Mall, Link Road, Malad (West), Mumbai – 400064, Maharashtra, India 6. Dynamix Mall, Sant Dhyaneshwar Marg, JVPD Scheme, Next to Chandan Cinema Hall, Vile Parle (West), Mumbai – 400049, Maharashtra, India 7. Godrej Eternia, B Wing, Shivaji Nagar, Mumbai-Pune Road, Pune – 411005, Maharashtra, India 8. HomeStop, lnorbit Mall, 2nd Floor, Link Road, Malad (West), Mumbai – 400064, Maharashtra, India 9. Prozone Mall, Plot Sector-C, Chikalthana Industrial Area, Masantpur, Aurangabad – 431210, Maharashtra, India 10. lnorbit Mall, Vashi, Navi Mumbai – 400705, Maharashtra, India 11. HomeStop, lnorbit Mall, 2nd Floor, Vashi, Navi Mumbai – 400705, Maharashtra, India 12. lnorbit Mall, Wadgaon Sheri, Nagar Road, Pune – 411014, Maharashtra, India 13. Alpha G, Near Vastrapur Lake, Vastrapur, Ahmedabad – 380054, Gujarat, India 14. R City Mall, LBS Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India 15. Pacific Mall, S. No 42, 43, Shankar Seth Road, Pune - 411037, Maharashtra, India 16. Opposite Alankar Talkies, Chainsukh Road, Latur – 413512, Maharashtra, India 17. HomeStop, lnorbit Mall, 2nd Floor, Wadgaon Sheri, Nagar Road, Pune – 411014, Maharashtra, India 18. HomeStop, R City, 2nd Floor, LBS Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India 19. HomeStop, FP No. 21 6, TP Scheme -1, Vastrapur, Ahmedabad – 380054, Gujarat, India 20. Koregaon Park Shopping Centre, S. No. 37, Hissa No. 4, Village Mouje, Gorpadi Taluka, Pune – 411001, Maharashtra, India 21.
Metro Junction Mall, Shil Road, Kalyan – 421306, Maharashtra,
India 22.
VR Mall, Near Magdalia Chokdi, Dumas Road, Surat – 395007, Gujarat, India 23.
Viviana Mall, Eastern Express Highway, Thane –
400062, Maharashtra, India 24. Alembic Road, Subhanpura, Vadodara – 390003, Gujarat, India Southern Region 1. Garuda Star Mall, Magrath Road, Ashok Nagar, Bangalore – 560025, Karnataka, India 2. Commerce@Mantri, Ground Floor, N.S. Palya, Bannerghatta Road, Bangalore – 566076, Karnataka, India 3. Mantri Square, No. 1. Sampige Road, Malleshwaram, Bangalore – 560003, Karnataka, India 4. Salarpuriya Tower - II, Near Forum Mall, Kormangala Industiral Layout, Bangalore – 560095, Karnataka, India 5. Plot No. 1-11-251/1, Alladin Mansion, Begumpet, Hyderabad – 500016, Andhra Pradesh, India 6. No. 2, Harrington Road, Chetpet, Chennai – 600031, Tamilnadu, India 7. GVK One Mall, Road No. 01, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India 8. lnorbit Mall, Apiic Software Layout, Hitech City, Cyberabad, Hyderabad – 500081, Andhra Pradesh, India 9. Passenger Terminal Building, Shamshabad Airport, Rangareddy, Hyderabad – 500409, Andhra Pradesh, India 10. Passenger Terminal Building, Bengaluru International Airport, Devanahalli, Bangalore – 560300, Karnataka, India 11. HomeStop, Raheja Point No. 1712, Magrath Road, Bangalore – 560025, Karnataka, India 12. Rarnee Mall, 365, Anna Salai, Teynampet, Chennai – 600018, Tamilnadu, India 13. HorneStop, Royal Meenakshi Mall, Shop No - S008, Bannergetta Road. Opposite Meenakshi Temple, Bangalore – 560076, Karnataka, India 14. Homestop. LEPL Icon, Vijayawada – 520008, Andhra Pradesh, India 15. 1st and 2nd Floor, Celebros Shyarnala Towers, 13 Acrot Road, Saligramarn, Chennai – 600093, Tamilnadu, India 16. LEPL Icon Mall, Vijayawada – 520008, Andhra Pradesh, India 17. OMR, Ground Floor, Gopalan Signature Towers, Opposite RMZ Infinity, Old Madras Road, Bangalore – 560096, Karnataka, India 18. Mall of Mysore, lndira Nagar Extension, Nazarabad Mohalla, M.G. Road, Mysore – 570010, Karnataka, India 19. HorneStop. lnorbit Mall, Apiic Software Layout, Hitech City, Cyberabad, Hyderabad – 500081, Andhra Pradesh, India 20. Inorbit Mall – Whitefield, EPIP Area, Whitefield, Bengaluru – 560 066 21. E-City Mall, S-7, No. 474, Near Rangavilas Mill, Avinash Road, Near PSG Krishnamrnal College, Coirnbatore – 641004, Tamilnadu, India 22. HorneStop. E-City Mall, Near Rangavilas Mill, Avinash Road, Near PSG Krishnarnmal College, Coimbatore – 641004, Tamilnadu, India 23. "Soul Space Arena" Outer Ring Road, Doddanekkundi Village, K R Purarn Habli, Bangalore – 560037, Karnataka, India 24. Hornestop, Phoneix Market City, 142 Velachery Main Road, Velachery, Chennai – 600042, Tamilnadu, India 25. Homestop, Manjeera Trinity Mall, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India 26. The Grand Mall, No. 137, Dr. Seetharam Nagar, Velachery, Chennai - 600042, Tamilnadu, India 27. Homestop, SJR Padukone Plaza, (Shop in Shop Crossword), 18th Main Road, Koramangla, Bengaluru – 560034, Karnataka, India 28. Manjeera, Trinity Mall, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India 29. Homestop, Embassy Paragon, (Shop in Shop Hypercity), ITPL Main Road, Bengaluru – 560037, Karnataka, India Northern Region 1. Ansal Plaza, Hudco Palace, Aridrew Ganj, Khelgaon Marg, Near South Extension, New Delhi – 110049, India 2. The Metropolitan Mall, Mehrauli-Gurgaon Road, Gurgaon - 122002, Haryana, India 3. Shipra Mall, Shipra Suncity, 9 Vaibhav Khand, Indirapuram, Ghaziabad – 201012, Uttar Pradesh, India 4. HorneStop, Plot No. A/3, Select City Walk, District Centre, Saket, New Delhi – 110017, India 5. E - City Mall, Opposite Paryatan Bhavan, Beside Eldeco Green Compound, Gornti Nagar, Lucknow – 226010, Uttar Pradesh, India 6. Eros Mall, Shivaji Palace, Rajouri Garden, Rajouri, New Delhi – 110027, India 7. The Great lndi Palace, New Okhla Industrial Development Area, Noida - 201301, Uttar Pradesh , India 8. Metropoliian Mall, Press Enclave Road, District Centre Saket, Sector II, New Delhi – 110017, India 9. Suncity Triton Mall, Near Bhawani Niketan College, Off Sikar Road, Sitararnpura, Tehsil Sawai, Jaipur – 302012, Rajasthan, India 10. Alpha One Mall, MBN Farms, Sultan Wind, Main G. T. Road, Amritsar – 143010, Punjab, India 11. Ambience Mall, Nelson Mandela Road, Vasant Kunj, New Delhi – 110070, India 12. DB City Mall, Arm Hills, Bhopal - 462011, Madhya Pradesh, India 13. Spaze I, Tech Park, Gurgaon, Spaze Mall, Sohna Road, Gurgaon – 122002, Haryana, India 14. Rohini, Plot No. 3b1, Twin District Centre-1, Sector - 10, Adjacent to Rithala Metro Station, Rohini, New Delhi - 1 0085, India 15. BPK Star Building, Opposite Lig Gurudwam, A.B. Road, lndore – 452001, Madhya Pradesh, India 16. Hornestop 2nd Floor, Fun Republic Mall, Gomti Nagar, Lucknow – 206010, Uttar Pradesh, India 17. MBD Neopolis Mall, Civil Lines, Beside Hotel Raddison, BMC Chowk, GT Road, Jalandar – 144001, Punjab, India 18. World Trade Park, South Block, 1JLN Marg, Malviya Nagar, Jaipur – 302017, Rajasthan, India 19. Elante Mall, Industrial Area Phase -1, Chandigarh – 160 002 20. New Udaan Bhawan, Indira Gandhi International Airport, New Delhi – 110 037 21. OMaxe SRK Mall, Nagala Padi, Agra – 280002, Uttar Pradesh, India 22. Jaipur International Airport (Departure - Level 2), New Terminal Building T-2, Jaipur – 302011, Rajasthan, India 23. HomeStop, Elante Mall, Industrial Area Phase -1, Chandigarh – 160002 (U.T.), India 24. HomeStop, Gaurav Towers 2, Indira Palace, Malaviya Nagar, Jaipur – 302017, Rajasthan, India 25. Gaur Central Mall, Rajnagar, Ghaziabad – 201002, Uttar Pradesh, India Eastern Region 1. 10/3, Lala Lajpat Rai Sarani (Elgin Road), Kolkata – 700020, West Bengal, India 2. City Centre, DC-1, Sector-1, Salt Lake, Kolkata – 700064, West Bengal, India 3. South City Mall, 375, Prince Anwar Shah Road, Opposite Jodhpur Park, Kolkata – 700068, West Bengal, India 4. Junction Mall, Mouza - Faridpur, J. L. No. 74, City Centre, Durgapur – 713216, West Bengal, India 5.
City Centre, Siliguri Uttomyon Township, NH -
31, Matigara, Siliguri – 734010, West Bengal, India 6.
Vidhan
Sabha Road, Village Mowa, Raipur – 492005, Chhattisgarh, India 7.
New
Integrated Terminal Building, Swami Vivekanand Airport, Raipur – 492001, Chhattisgarh,
India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Chandru Raheja |
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Designation : |
Chairman |
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Name : |
B. S. Nagesh |
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Designation : |
Vice Chairman |
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Name : |
Govind Shrikhande |
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Designation : |
Managing Director |
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Name : |
Mr. Ravi C. Raheja |
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Designation : |
Director |
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Name : |
Mr. Neel C. raheja |
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Designation : |
Director |
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Name : |
Mr. Gulu L. Mirchandani |
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Designation : |
Director (Upto 31.07.2014) |
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Name : |
Mr. Shahzaad S. Dalal |
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Designation : |
Director (Upto 31.07.2014) |
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Name : |
Mr. Nitin Sanghavi |
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Designation : |
Director |
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Name : |
Mr. Deepak Ghaisas |
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Designation : |
Director |
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Name : |
Nirvik Singh |
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Designation : |
Director |
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Name : |
Avnish Bajaj |
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Designation : |
Director |
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Date of Appointment : |
25.10.2013 |
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Name : |
Abanti Sankaranarayanan |
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Designation : |
Director |
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Date of Appointment : |
19.06.2014 |
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Name : |
Mr. Manish Chokhani |
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Designation : |
Director (w.e.f. 31.07.2014) |
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Name : |
Mr. Gereth Thomas |
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Designation : |
Director (w.e.f. 05.11.2014) |
KEY EXECUTIVES
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Name : |
Mr. Prashant Mehta |
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Designation : |
Vice President - Legal and Company Secretary |
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Audit Committee : |
· Deepak Ghaisas - Chairman · Ravi C. Raheja - Member · Nitin Sanghavi - Member · Manish Chokhani - Member |
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Remuneration/ Nomination Committee : |
· Nirvik Singh - Chairman · Avnish Bajaj - Member · Nitin Sanghavi - Member |
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Corporate Social Responsibility Committee : |
· Abanti Shankarnarayanan - Chairman · Ravi C. Raheja - Member · Gereth Thomas - Member · Govind Shrikhande - Member |
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Stakeholders
Relationship Committee : |
· Ravi C. Raheja - Chairman · Neel C. Raheja - Member · B. S. Nagesh - Member |
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Management Team : |
· Govind Shrikhande · Sail Nair · Anil Shankar · Ashwin Babbar · BVM Rao · CK Nair · Gopal Asthana · Manohar Kamath · Prashant Mehta · Sanjay Chakravarti · Vinay Bhatia |
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
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|
3695000 |
4.43 |
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|
52334674 |
62.76 |
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|
56029674 |
67.19 |
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Total
shareholding of Promoter and Promoter Group (A) |
56029674 |
67.19 |
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(B) Public
Shareholding |
||
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|
11143038 |
13.36 |
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|
8725 |
0.01 |
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|
3414541 |
4.09 |
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|
14566304 |
17.47 |
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|
10319389 |
12.38 |
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Individual shareholders holding nominal share capital up to Rs.0.100
Million |
998039 |
1.20 |
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Individual shareholders holding nominal share capital in excess of
Rs.0.100 Million |
1422029 |
1.71 |
|
|
51087 |
0.06 |
|
|
40904 |
0.05 |
|
|
3683 |
0.00 |
|
|
6500 |
0.01 |
|
|
12790544 |
15.34 |
|
Total Public
shareholding (B) |
27356848 |
32.81 |
|
Total (A)+(B) |
83386522 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
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Total
(A)+(B)+(C) |
83386522 |
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 |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total |
||
|
1 |
Palm Shelter Estate Development Private Limited |
11813300 |
14.17 |
|
2 |
Raghukool Estate Development Private Limited |
8263300 |
9.91 |
|
3 |
Capstan Trading Private Limited |
8129768 |
9.75 |
|
4 |
Casa Maria Properties Private Limited |
7913300 |
9.49 |
|
5 |
Anbee Construction Private Limited |
6511762 |
7.81 |
|
6 |
Cape Trading Private Limited |
6261040 |
7.51 |
|
7 |
K Raheja Corp Private Limited |
3382204 |
4.06 |
|
8 |
Neel Chandru Raheja |
1150000 |
1.38 |
|
9 |
Ravi Chandru Raheja |
1100000 |
1.32 |
|
10 |
Jyoti Chandru Raheja |
747500 |
0.90 |
|
11 |
Chandru Lachmandas Raheja |
697500 |
0.84 |
|
12 |
Inorbit Malls India Private Limited |
20000 |
0.02 |
|
13 |
Ivory Properties And Hotels Private Limited |
20000 |
0.02 |
|
14 |
K Raheja Private Limited |
20000 |
0.02 |
|
Total |
56029674 |
67.19 |
|
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 held |
Shares as % of Total No. of Shares |
|
|
1 |
Reliance Capital Trustee Company Limited A/C Reliance Equity
Opportunities Fund |
5508132 |
6.61 |
|
|
2 |
Miraj Marketing Company LLP |
1856250 |
2.23 |
|
|
3 |
Zodiacclothing Companylimited |
1713750 |
2.06 |
|
|
4 |
Lo Funds - Emerging Consumer |
1515000 |
1.82 |
|
|
5 |
Reliance Capital Trustee Company Limited - A/C Reliance Tax Saver
(Elss) Fund |
1359000 |
1.63 |
|
|
6 |
Birla Sun Life Trustee Company Private Limited A/Cbirla Sun Life Tax
Relief 96 |
1329084 |
1.59 |
|
|
7 |
The Master Trust Bank Of Japan, Limited As Trustee Of Nissay India
Equity Selection Mother Fund |
1285550 |
1.54 |
|
|
8 |
Hasham Investment And Trading Company Private Limited |
1250000 |
1.50 |
|
|
9 |
Vidya Investment And Trading Company Private Limited |
1223009 |
1.47 |
|
|
10 |
Bajaj Allianz Life Insurance Company Limited |
1214051 |
1.46 |
|
|
11 |
ICICI Prudential Life Insurance Company Limited |
848566 |
1.02 |
|
|
|
Total |
19102392 |
22.91 |
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 |
Shares as % of Total No. of Shares |
|
|
1 |
Reliance Capital Trustee Company Limited A/C Reliance Equity
Opportunities Fund |
5508132 |
6.61 |
|
|
|
Total |
5508132 |
6.61 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of retailing a variety of household and consumer products
through departmental stores. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
· Deutsche Bank AG · IDBI Bank Limited · ICICI Bank Limited · Kotak Mahindra Bank Limited · HDFC Bank Limited · Bank of India ·
Yes Bank Limited |
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Facilities : |
NOTE LONG TERM
BORROWINGS 2015:
Term Loans are secured by a first pari passu charge on stock, book debts,
hypothecation charge on credit card/debit card receivables (Escrow account)
and all the movable fixed assets of the Company, both present and future
except ICICI Bank Term loans which is secured by first pari passu charge on
the current assets and all the movable fixed assets of the Company both
Present and Future excluding leasehold rights, lease deposits and Shoppers
Stop Brands. SHORT TERM
BORROWINGS 2015:
Term Loans are secured by a first pari passu charge on stock, book debts,
hypothecation charge on credit card/debit card receivables (Escrow account)
and all the movable fixed assets of the Company, both present and future
except ICICI Bank Term loans which is secured by first Pari Passu charge on
the current assets and all the movable fixed assets of the Company both
Present and Future excluding leasehold rights, lease deposits and Shoppers
Stop Brands. |
|
Statutory Auditors : |
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|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 27th - 32nd Floor, Elphinstone
Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai - 400013,
Maharashtra, India |
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Internal Auditors : |
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Name : |
KPMG Chartered Accountants |
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Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg,
Mahalaxmi, Mumbai – 400011, Maharashtra, India |
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Advocates and Solicitors : |
Wadia Ghandy and Company |
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Subsidiaries : |
·
Upasna Trading Limited ·
Shoppers Stop.com (India) Limited ·
Shoppers Stop Services (India) Limited ·
Crossword Bookstores Limited ·
Gateway Multi channel Retail (India) Limited ·
Hypercity Retail (India) Limited |
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Joint Ventures : |
·
Nuance Group (India) Private Limited ·
Timezone Entertainment Private Limited |
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Other Related Parties : |
·
Ivory Properties and Hotels Private Limited ·
K. Raheja Corp. Private Limited ·
K. Raheja Private Limited ·
Inorbit Malls (India) Private Limited ·
Avacado Properties and Trading India Private
Limited ·
Chalet Hotels Limited ·
Trion Properties Private Limited ·
Magna Warehousing and Distribution Private
Limited ·
IL&FS Investment Advisors LLC Br ·
Retailers Association of India ·
Sanghavi Associates Limited |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.5/- each |
Rs.1000.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83367805 |
Equity Shares |
Rs.5/- each |
Rs.416.839 Million |
Reconciliation of
shares outstanding at the beginning and end of the year:
|
Particulars |
31.03.2015 |
|
|
Numbers |
Rs. In Million |
|
|
Equity shares |
|
|
|
At the beginning of the year |
83215760 |
416.079 |
|
Issued during the year - ESOP |
152045 |
0.760 |
|
At the end of the year |
83367805 |
416.839 |
Shares reserved for
issue under options:
|
Employee Stock
Option Plan (ESOP) |
31.03.2015 |
|
Employee Stock Option Plan (ESOP) |
(Nos) |
|
Options exercised during the year |
152045 |
|
Option
Outstanding as at |
504637 |
Details of shareholders
holding more than 5% shares as at 31 March:
|
Particulars: |
31.03.2015 |
|
|
Numbers |
% of Shares held |
|
|
Palm Shelter Estate Development Private Limited |
11813300 |
14.17% |
|
Raghukool Estate Development Private Limited |
8263300 |
9.91% |
|
Capstan Trading Private Limited |
8129768 |
9.75% |
|
Casa Maria Properties Private Limited |
7913300 |
9.49% |
|
Anbee Construction Private Limited |
6511762 |
7.81% |
|
Cape Trading Private Limited |
6261040 |
7.51% |
|
Reliance
Capital Trustee Company Limited A/C Reliance |
5209410 |
6.25% |
Other disclosures:
The
Company has one class of equity shares having a par value of Rs. 5 per share.
Each equity shareholder is eligible for one vote per share held. Each equity
shareholder is entitled to dividends as and when the Company declares and pays
dividend after obtaining shareholders’ approval. Dividends
are paid in Indian Rupees.
During the year ended 31st March 2015, the amount of per share final dividend recognized as distribution to equity shareholders was Rs. 0.75 per share (2014: Rs. 0.75 per share).
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 |
416.839 |
416.079 |
414.898 |
|
(b) Reserves & Surplus |
7236.041 |
6870.647 |
6523.322 |
|
(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) |
7652.880 |
7286.726 |
6938.220 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
2253.571 |
1998.333 |
1125.000 |
|
(b) Deferred tax liabilities (Net) |
95.575 |
99.619 |
62.543 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2349.146 |
2097.952 |
1187.543 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short-term borrowings |
2325.526 |
1748.071 |
1943.371 |
|
(b) Trade
payables |
3313.540 |
3096.950 |
2817.492 |
|
(c) Other
current liabilities |
2144.370 |
2252.130 |
1360.986 |
|
(d) Short-term
provisions |
117.542 |
106.626 |
102.807 |
|
Total Current
Liabilities (4) |
7900.978 |
7203.777 |
6224.656 |
|
|
|
|
|
|
TOTAL |
17903.004 |
16588.455 |
14350.419 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5717.337 |
5267.908 |
4429.828 |
|
(ii)
Intangible Assets |
245.776 |
222.370 |
129.332 |
|
(iii)
Capital work-in-progress |
142.462 |
318.717 |
274.486 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4064.947 |
3875.992 |
3309.474 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3422.916 |
3011.938 |
2754.034 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
79.045 |
|
Total Non-Current
Assets |
13593.438 |
12696.925 |
10976.199 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3296.133 |
2955.357 |
2438.249 |
|
(c) Trade
receivables |
223.352 |
260.030 |
203.636 |
|
(d) Cash
and cash equivalents |
49.047 |
87.340 |
117.213 |
|
(e)
Short-term loans and advances |
625.525 |
439.749 |
470.271 |
|
(f) Other
current assets |
115.509 |
149.054 |
144.851 |
|
Total
Current Assets |
4309.566 |
3891.530 |
3374.220 |
|
|
|
|
|
|
TOTAL |
17903.004 |
16588.455 |
14350.419 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
30419.880 |
27135.732 |
22542.236 |
|
|
Other Income |
176.549 |
133.888 |
172.147 |
|
|
TOTAL |
30596.429 |
27269.620 |
22714.383 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchase of stock-in-trade |
19105.105 |
17421.593 |
14377.025 |
|
|
Changes in inventories of stock in trade |
(340.776) |
(517.108) |
(317.848) |
|
|
Employee benefits expense |
2270.329 |
2044.450 |
1610.641 |
|
|
Other expenses |
7495.852 |
6650.192 |
5608.311 |
|
|
TOTAL |
28530.510 |
25599.127 |
21278.129 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2065.919 |
1670.493 |
1436.254 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
512.223 |
418.910 |
318.814 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1553.696 |
1251.583 |
1117.440 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
858.071 |
617.789 |
507.471 |
|
|
|
|
|
|
|
Less
|
EXCEPTIONAL ITEM |
0.000 |
(6.740) |
(7.406) |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
695.625 |
627.054 |
602.563 |
|
|
|
|
|
|
|
Less |
TAX |
288.272 |
257.007 |
210.878 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
407.353 |
370.047 |
391.685 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2029.415 |
1750.889 |
1451.600 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Adjustment of depreciation charge Sch. II |
6.930 |
0.000 |
0.000 |
|
|
Proposed Dividend (incl. Dividend Distribution tax) |
75.254 |
73.019 |
72.812 |
|
|
Transfer to General Reserve |
20.368 |
18.502 |
19.584 |
|
|
Total (M) |
102.552 |
91.521 |
92.396 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2334.216 |
2029.415 |
1750.889 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Foreign currency and foreign credit card collection on sale of merchandise |
597.214 |
619.401 |
539.336 |
|
|
TOTAL EARNINGS |
597.214 |
619.401 |
539.336 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
32.592 |
35.262 |
38.146 |
|
|
Purchase of Merchandise |
314.211 |
398.610 |
388.305 |
|
|
TOTAL IMPORTS |
346.803 |
433.872 |
426.451 |
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
|
|
|
Basic
|
4.89 |
4.46 |
4.73 |
|
|
Diluted
|
4.88 |
4.45 |
4.71 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
604.763 |
766.667 |
225.000 |
|
Cash generated from operations |
1542.477 |
1383.059 |
1282.753 |
|
Net cash from operating activities |
1299.250 |
1253.160 |
1123.564 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.34 |
1.36 |
1.74 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.79 |
6.16 |
6.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.08 |
5.06 |
5.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.68 |
0.62 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.55 |
0.54 |
0.54 |
STOCK
PRICES
|
Face Value |
Rs.5.00 /- each |
|
Market Value |
Rs.402.70/- each |
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 |
414.898 |
416.079 |
416.839 |
|
Reserves & Surplus |
6523.322 |
6870.647 |
7236.041 |
|
Net worth |
6938.220 |
7286.726 |
7652.880 |
|
|
|
|
|
|
long-term borrowings |
1125.000 |
1998.333 |
2253.571 |
|
Short term borrowings |
1943.371 |
1748.071 |
2325.526 |
|
Current Maturities of
Long Term Debt |
225.000 |
766.667 |
604.763 |
|
Total borrowings |
3293.371 |
4513.071 |
5183.860 |
|
Debt/Equity ratio |
0.475 |
0.619 |
0.677 |
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 |
22542.236 |
27135.732 |
30419.880 |
|
|
|
20.377 |
12.103 |
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 |
22542.236 |
27135.732 |
30419.880 |
|
Profit |
391.685 |
370.047 |
407.353 |
|
|
1.74% |
1.36% |
1.34% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
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 |
No |
|
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 |
--------------- |
|
33 |
Market information |
--------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10537812 |
26/11/2014 |
500,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA |
C37588720 |
|
2 |
10515419 |
25/07/2014 |
250,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
C16751596 |
|
3 |
10454947 |
08/10/2013 |
500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA |
B87513917 |
|
4 |
10448537 |
12/09/2013 |
1,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B84778430 |
|
5 |
10419607 |
22/03/2013 |
250,000,000.00 |
BANK OF INDIA |
ANDHERI LARGE CORPORATE BRANCH, M. D. I BUILDING, 1ST FLOOR, 28, S. V ROAD, ANDHERI (WEST), MUMBAI - 400058, MAHARASHTRA, INDIA |
B73152175 |
|
6 |
10410564 |
12/03/2013 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B70349535 |
|
7 |
10333964 |
12/01/2012 |
350,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B31437163 |
|
8 |
10265194 |
27/11/2014 * |
500,000,000.00 |
BANK OF INDIA |
ANDHERI LARGE CORPORATE BRANCH, M. D. I BUILDING, 1ST FLOOR, 28, S. V ROAD, ANDHERI (WEST), MUMBAI - 400058, MAHARASHTRA, INDIA |
C37595089 |
|
9 |
10106164 |
29/04/2010 * |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA |
A85798684 |
|
10 |
10076458 |
23/06/2010 * |
400,000,000.00 |
AXIS BANK LIMITED |
UNIVERSAL INSURANCE BUILDING, SIR P. M ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A89704936 |
|
11 |
90154070 |
18/11/2014 * |
250,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA |
C35923267 |
|
12 |
90153993 |
09/10/2012 * |
565,000,000.00 |
IDBI BANK LIMITED |
47, OPUS CENTRE, OPP. TUNGA PARADISE, CENTRAL ROAD, MIDC, ANDHERI (EAST), MUMBAI - 400093, MAHARASHTRA, INDIA |
B59711002 |
|
13 |
90153990 |
23/06/2010 * |
350,000,000.00 |
AXIS BANK LIMITED |
UNIVERSAL INSURANCE BUILDING, SIR P. M ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A89702302 |
|
14 |
90153655 |
10/01/2013 * |
220,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B67474049 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs. In Million) |
31.03.2014 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans from bank |
99.803 |
99.005 |
|
Commercial
papers (maximum amount outstanding during the year Rs. 850.000 Million; Previous year Rs. 250.000 Million) |
850.000 |
0.000 |
|
Total |
949.803 |
99.005 |
COMPANY
BACKGROUND
Subject
was incorporated on 16 June 1997. The Company is engaged in the business of
retailing a variety of household and consumer products through departmental
stores. As at 31 March 2015, the Company operated through 72 such departmental
stores located in different cities of India.
PERFORMANCE REVIEW
The
Company has opened 5 departmental stores i.e., one store each at Ludhiana,
Ahmedabad, Pune, Visakhapatnam and Mangalore taking its chain of stores to 71
stores (including four airport stores) spread across India. Further, the
Company has also opened 1 Home Stop store at Pune taking its tally to 19
stores.
The
revenue of the Company is Rs.30596.429 Million (previous year Rs.27269.620
Million), registering a growth of 12.20 % y-o-y basis. The net profit achieved
was Rs.407.353 Million (previous year Rs.370.047 Million).
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2015 (Rs. In Million) |
31.03.2014 (Rs.
In Million) |
|
a) Claims against the Company not acknowledged as debts, comprising
of: |
|
|
|
(i) Income-tax
claims disputed by the Company relating to disallowances aggregating |
79.787 |
96.871 |
|
(ii) Service tax,
Sales tax and other Indirect tax claims disputed by the Company relating to
issues of applicability and classification aggregating |
161.188 |
151.298 |
|
(iii) Third party claims arising from disputes relating to contracts
aggregating |
49.352 |
49.352 |
|
b) Other matters |
22.725 |
22.725 |
|
c) Estimated
amount of contracts remaining to be executed on capital account and not
provided for |
306.963 |
393.524 |
|
d) Corporate
guarantee given jointly and severally with joint venture partners to banks for
loans taken by Joint venture entities |
82.500 |
82.500 |
|
e) Corporate
guarantee given jointly and severally with the promoter group company for
loans taken by Hypercity Retail (India) Limited |
2350.000 |
1950.000 |
|
f) Bank
Guarantees |
54.756 |
37.136 |
|
NOTE: Future
cash outflows in respect of (a) above are determinable only on receipt of
judgements/decisions pending with various forums/authorities. |
||
STATEMENT
OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2015
|
Particulars |
30.06.2015 Quarter ended |
|
|
(Unaudited) |
|
Turnover |
|
|
Retail
Turnover |
|
|
Own Merchandise (Including concession sales) |
7127.047 |
|
Consignment Merchandise |
628.310 |
|
|
7755.357 |
|
Less
: Value Added Tax / Sales Tax |
364.004 |
|
Cost of consignment merchandise |
413.045 |
|
Income
from operations |
6978.308 |
|
Other operating income |
133.214 |
|
Total
income from Operations(net) |
7111.522 |
|
Expenditure |
|
|
Purchases of stock in trade |
4605.286 |
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(278.385) |
|
Employees benefit expenses |
574.659 |
|
Depreciation and amortization expenses |
198.844 |
|
Lease Rent and Hire Charges |
734.159 |
|
Electricity Charges |
232.189 |
|
Other expenditure |
916.305 |
|
Total expenses |
69830.570 |
|
Profit
from operations before other income and financial costs |
128.465 |
|
Other income |
51.192 |
|
Profit from
ordinary activities before finance costs |
179.657 |
|
Finance costs |
139.222 |
|
Profit from
ordinary activities after finance costs but before exceptional items |
40.435 |
|
Exceptional Items |
238.100 |
|
(Loss) / Profit
from ordinary activities before tax |
(197.665) |
|
Tax expenses |
16.702 |
|
Net Profit / (Loss)
from ordinary activities after tax (9-10) |
(214.367) |
|
Paid-up equity share capital (Nominal value Rs.5/- per share) |
416.933 |
|
Reserve (excluding Revaluation Reserves) |
--- |
|
Earnings per share (In Rs.) not annualized : |
|
|
Basic |
(2.57) |
|
Diluted |
(2.57) |
|
A.
Particulars of shareholding |
|
|
1.
Public Shareholding |
|
|
- Number of shares |
27356848 |
|
- Percentage of shareholding |
32.81 |
|
2.
Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
7077204 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
12.63 |
|
Percentage of shares (as a % of total share capital of the
company) |
8.49 |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
48952470 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
87.37 |
|
Percentage of shares (as a % of total share capital of the
company) |
58.70 |
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
3 |
|
Disposed of during the quarter |
3 |
|
Remaining unreserved at the end of the quarter |
Nil |
Note:
1. The company is primarily engaged in the business of retail trade through retail and departmental store facilities, which constitute a single reportable segment.
2. During the quarter, 18717 equity shares were issued and allotted under the company’s Employee Stock Scheme.
3. Pursuant to levy of service tax on renting of immovable properties given for commercial use, retrospectively with effect from 1 June 2007 by the Finance Act, 2010, the company has based on a legal advice, challenged the said levy and, inter-alia, its retrospective application. Consistent with the treatment in earlier periods, pending the final disposal of the matter, the company not to provide for the retrospective levy aggregating Rs. 165.956 Million (paid under protest) for the period 1st June, 2007 to 31st March, 2010.
4. The company has a financial involvement aggregating Rs.4327.037 Million in Hypercity Retail (India) Limited (‘Hypercity’), a subsidiary company. Consistent with the earlier periods, in view of Hypercity’s business plans with strategic growth projections, the company considers that there is no loss for which a provision is currently necessary.
5. Figures of the previous period / year have been regrouped / reclassified wherever necessary.
6. The Standalone financial results have been reviewed by the Audit Committee on 30 July 2015 and approved by the Board of Directors at their meeting held on 31 July 2015. The statutory auditors of the company has carried out a limited review of the Company’s financial results for the quarter ended 30 June 2015.
FIXED ASSETS
TANGIBLE ASSETS
·
Leasehold
improvements
·
Air
conditioning and other equipment
·
Furniture,
fixtures and other fittings
·
Office
Equipment
·
Computers
·
Vehicles
INTANGIBLE ASSETS
·
Trademarks
· 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.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.