MIRA INFORM REPORT
|
Report No. : |
354141 |
|
Report Date : |
20.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARVIND LIFESTYLE BRANDS LIMITED (w.e.f. 09.06.2008) |
|
|
|
|
Formerly Known
As : |
PINNACLE RISK ADVISORY SERVICES LIMITED ARVIND TELECOM LIMITED |
|
|
|
|
Registered
Office : |
Arvind Mills Premises, Naroda Road, Ahmedabad - 380025, Gujarat |
|
Tel. No.: |
91-79-22203030 / 30138000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation
: |
13.02.1995 |
|
|
|
|
Com. Reg. No.: |
04-024598 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.299.351
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64201GJ1995PLC024598 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMF00436C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7252A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of distribution and Retailing of Readymade Garment Apparels and Accessories. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a step-down subsidiary of Arvind, the flagship company of
the Lalhai group, promoted in 1931 by Mr. Kasthurbhai Lalbhai, Mr. Chiman Lalbhai,
and Mr. Narottam Lalbhai. The company is engaged in manufacturer super-fine
fabrics and retailing of apparels. It retails apparels of brands Arrow, Gant,
U. S. Polo, Izod Flying Machine. The company possesses moderate operational performance and it has
incurred huge losses from its operational activities. The rating continue to reflect the strong support that company
receives from Arvind Limited, its diversified portfolio of brands, and
multi-channel marketing strategy. Trade relations are reported as fair. Payment terms are reported to be
usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
November 24, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
November 24, 2015 |
RBI DEFAULTER’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTER’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DECLINED
Management Non-Cooperative
LOCATIONS
|
Registered Office/ Corporate Office 1 : |
Arvind Mills Premises, Naroda Road, Ahmedabad – 380025, Gujarat, India |
|
Tel. No.: |
91-79-22203030 / 30138000 |
|
Mobile No.: |
91-9845197710 (Mr. Mani Kandan) |
|
Fax No.: |
91-79-22200267 / 30138671 |
|
E-Mail : |
|
|
Website : |
|
|
Owned : |
2000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office 2
: |
8th Floor, Duparc Trinity 17, M.G. Road Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-80-41550601 |
|
|
|
|
Warehouse : |
Survey No.93, Archakara Halli, No.26/2 and 27/2, Kasaba Hobli, Ramnagar, Bangalore - 560032, Karnataka, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Suresh Jayaraman |
|
Designation : |
Managing Director |
|
Address : |
S02, Magnolai No. 170/5, Defence Colony, 5th Main Indira Nagar,
Bangalore-560038, |
|
Date of Birth/Age : |
25.05.1960 |
|
Date of Appointment : |
04.11.2014 |
|
DIN No.: |
03033110 |
|
|
|
|
Name : |
Mr. Jayesh Kantilal Shah |
|
Designation : |
Director |
|
Address : |
26, Amaltas Bunglows, Vastrapur, Ahmedabad-380015, |
|
Date of Birth/Age : |
25.05.1960 |
|
Date of Appointment : |
24.09.2010 |
|
DIN No.: |
00008349 |
|
|
|
|
Name : |
Mr. Sajaybhai Shrenikbhai Lalbhai |
|
Designation : |
Director |
|
Address : |
Lalbaug, Shahibaug, Ahmedabad-388004, |
|
Date of Birth/Age : |
10.04.1954 |
|
Date of Appointment : |
24.09.2010 |
|
DIN No.: |
00008329 |
|
|
|
|
Name : |
Renuka Ramnath |
|
Designation : |
Director |
|
Address : |
D-4701/2, Floor: 47, Ashok Tower, 63/74, Dr. S. S. Rao Marg, Parel, Mumbai - 400012, Maharashtra, India |
|
Date of Appointment : |
04.11.2014 |
|
DIN No.: |
00147182 |
KEY
EXECUTIVES
|
Name : |
Venkatchalapahy Ke |
|
Designation : |
Secretary |
|
Address : |
Flat No. S1 Gold Woods 135/2 Rahat Bagh C V Raman Nagar Post,
Banglore-560093, Karnataka, India |
|
Date of Birth/Age : |
29.10.1962 |
|
Date of Appointment : |
12.09.2013 |
|
PAN No.: |
ABMPV1986B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
|
Arvind Brands and Retail Limited, India |
29935094 |
|
Devanshu S. Desai |
1 |
|
Ramnik V. Bhimani |
1 |
|
Jayesh N. Thakkar |
1 |
|
Hemen H. Joshi |
1 |
|
Rohit S. Jani |
1 |
|
Bharat P. Patel |
1 |
|
Total
|
29935100 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of distribution and Retailing of Readymade Garment Apparels and Accessories. (Registered Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
FLYING MACHINE |
||||
|
|
|
||||
|
New Brand Name : |
|
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Sorab S Engineer and Company Chartered Accountants |
|
Address : |
381, Dr D N Road, Ismail Building, Fort, Mumbai – 400001, Maharashtra, India |
|
PAN No.: |
AAAFS5191E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Arvind Brands and Retail Limited, India U52609GJ2007PLC051974 |
|
|
|
|
Ultimate Holding
company : |
Arvind Limited, India L17119GJ1931PLC000093 |
|
|
|
|
Fellow Subsidiary
Company : |
U29100GJ2008PLC053226
U45201GJ2008PLC055771
U72400GJ2013PLC074576 |
|
|
|
|
Related Parties : |
CIN No.: U51909GJ2000PTC038248
CIN No.: U65910GJ1981PLC004408
U52190GJ2011PTC084513
U17121GJ2012PTC071968 |
CAPITAL STRUCTURE
AS ON 30.09.2015
Authorised Capital : Rs.500.000 Million
Issued, Subscribed & Paid-up Capital : Rs.336.351 Million
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29935100 |
Equity Shares |
Rs.10/- each |
Rs.299.351 Million |
|
|
|
|
|
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 |
299.351 |
279.351 |
210.501 |
|
(b) Reserves & Surplus |
2612.748 |
2294.503 |
2215.312 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
62.850 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2912.099 |
2573.854 |
2488.663 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1491.788 |
1470.050 |
505.818 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
279.505 |
159.405 |
99.749 |
|
(d) long-term provisions |
41.454 |
31.129 |
22.271 |
|
Total
Non-current Liabilities (3) |
1812.747 |
1660.584 |
627.838 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4990.943 |
3886.610 |
2895.940 |
|
(b) Trade payables |
5582.995 |
4809.134 |
4401.373 |
|
(c) Other current liabilities |
1196.486 |
1088.305 |
610.030 |
|
(d) Short-term provisions |
91.630 |
68.393 |
50.174 |
|
Total
Current Liabilities (4) |
11862.054 |
9852.442 |
7957.517 |
|
|
|
|
|
|
TOTAL |
16586.900 |
14086.880 |
11074.018 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2051.827 |
2106.987 |
1780.184 |
|
(ii) Intangible Assets |
565.878 |
674.211 |
771.168 |
|
(iii) Capital work-in-progress |
0.426 |
0.000 |
18.556 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.150 |
0.150 |
0.154 |
|
(c) Deferred tax assets (net) |
508.683 |
192.086 |
106.944 |
|
(d) Long-term Loan and Advances |
1430.198 |
1375.997 |
1118.966 |
|
(e) Other Non-current assets |
4.503 |
17.875 |
1.397 |
|
Total
Non-Current Assets |
4561.665 |
4367.306 |
3797.369 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5056.258 |
4093.191 |
3224.892 |
|
(c) Trade receivables |
5960.835 |
4724.328 |
3284.488 |
|
(d) Cash and cash equivalents |
77.622 |
176.506 |
230.660 |
|
(e) Short-term loans and
advances |
910.610 |
708.712 |
522.248 |
|
(f) Other current assets |
19.910 |
16.837 |
14.361 |
|
Total
Current Assets |
12025.235 |
9719.574 |
7276.649 |
|
|
|
|
|
|
TOTAL |
16586.900 |
14086.880 |
11074.018 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
21049.325 |
17420.492 |
12854.715 |
|
|
Other Income |
49.566 |
(9.067) |
74.449 |
|
|
TOTAL
(A) |
21098.891 |
17411.425 |
12929.164 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
43.861 |
96.312 |
86.499 |
|
|
Purchases of Stock-in-Trade |
11935.924 |
10155.336 |
6995.880 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(909.427) |
(1010.841) |
(605.312) |
|
|
Employees benefits expense |
1588.406 |
1281.385 |
871.962 |
|
|
Exceptional Items |
224.039 |
0.000 |
0.000 |
|
|
Other expenses |
7152.826 |
5956.465 |
4847.145 |
|
|
TOTAL
(B) |
20035.629 |
16478.657 |
12196.174 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
1063.262 |
932.768 |
732.990 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
858.280 |
647.578 |
462.146 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
204.982 |
285.190 |
270.844 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
682.172 |
585.141 |
463.016 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(477.190) |
(299.951) |
(192.172) |
|
|
|
|
|
|
|
Less |
TAX (H) |
(153.995) |
(85.142) |
(61.267) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(323.195) |
(214.809) |
(130.905) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
267.094 |
190.392 |
|
|
TOTAL
EARNINGS |
NA |
267.094 |
190.392 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
1012.642 |
699.913 |
|
|
Components and Stores parts |
NA |
2.032 |
4.806 |
|
|
Capital Goods |
NA |
1.48 |
0.271 |
|
|
TOTAL
IMPORTS |
NA |
1016.154 |
704.990 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(3.54) |
(7.83) |
(4.97) |
Expected Sales (2014-15) : Rs.21000.000 Million
The above information has been parted by Mr. Vinit Shah.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
479.102 |
290.003 |
179.403 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(1480.135) |
(1442.903) |
(921.285) |
|
Net cash flows from (used in) operating activities |
(640.149) |
(827.757) |
(491.393) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
PAT / Sales |
(%) |
(1.54) |
(1.23) |
(1.02) |
|
|
|
|
|
|
|
Net Profit Margin (PBDIT/ Total Income) |
(%) |
5.05 |
5.35 |
5.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.97) |
(2.16) |
(1.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
(0.12) |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.39 |
2.19 |
1.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
0.99 |
0.91 |
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 |
210.501 |
279.351 |
299.351 |
|
Reserves & Surplus |
2215.312 |
2294.503 |
2612.748 |
|
Money received against share
warrants |
0.000 |
0.000 |
62.850 |
|
Net
worth |
2425.813 |
2573.854 |
2974.949 |
|
|
|
|
|
|
long-term borrowings |
505.818 |
1470.050 |
1491.788 |
|
Short term borrowings |
2895.940 |
3886.610 |
4990.943 |
|
Current Maturities Of
Long-Term Debts |
179.403 |
290.003 |
479.102 |
|
Total
borrowings |
3581.161 |
5646.663 |
6961.833 |
|
Debt/Equity
ratio |
1.476 |
2.194 |
2.340 |
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 |
12854.715 |
17420.492 |
21049.325 |
|
|
|
35.518 |
20.831 |
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 |
12854.715 |
17420.492 |
21049.325 |
|
Profit |
(130.905) |
(214.809) |
(323.195) |
|
|
(1.02%) |
(1.23%) |
(1.54%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: The registered
office of the company has been shifted from AAA Houspital Premises, Naroda
Road, Ahmedabad – 380025, Gujarat, India to the present address w.e.f.
24.10.2008.
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
The Company has posted a sales turnover of Rs.21927.163 Million during the year.
The year was challenging on many fronts. The company has completed yet another significant year in which it has achieved a sustained growth in terms of Turnover and in profitability.
The directors are continuously looking for avenues for future growth of the Company.
COMPANY BACKGROUND
Subject is engaged in the business of distribution and Retailing of Readymade Garment Apparels and Accessories. True to being the pioneer in Apparel designing and retailing in India, ALBL launched first ever Denim Brand in India in the early 80’s, brought first international brand Arrow to India in early 90’s and also opened first exclusive brand outlet in India. With close to 600 stores covering 6 Lac plus square feet of Retail space panning the length and breadth of the country, ALBL today has some of the best known international portfolio brands, the likes of ARROW, GANT, U. S. POLO, IZOD, ELLE, NAUTICA, DEBENHAMS, NEXT and HANES apart from our very own Denim brand FLYING MACHINE spread across. The company has recently added two New Brands in GAP and TCP to strengthen its presence in Bridge to Lifestyle and Kidswear segment respectively.
Megamart, a division of ALBL is engaged in the business of Value Retailing of Apparels. Again taking Pioneer position, Megamart introduced the concept of Apparel Value retailing business in India and dominates the Branded Apparel Value-Retailing market in India. Megamart also introduced International Brands like Cherokee, Mossimo and Geoffrey Beane in the Value Retailing segment and created a big market excitement. With more than 135 regular format stores and 5 Big Format stores, Megamart operates with more than 8 million square feet of Retail space across India.
Both Brands and Megamart retail presence touches 800+ stores and 14.2Mn Retail space.
COMPANY BACKGROUND
Subject has been a pioneer in bringing international brands to India. The company has licensing relationships with many international Brands including U.S. POLO ASSN., Gant, Arrow, Izod, Nautica, Elle, Ed Hardy, Hanes, Cherokee, Mossimo and Geoffrey Beene. Arvind also has a portfolio of 12 of its own brands including Flying Machine and also runs the India retail operations of British retailers Debenhams and Next.
It also runs India’s largest value retail chain, Megamart. Megamart today is the largest player in the Branded Apparel Value-Retailing concept. With more than 188 Megamart stores and 9 Large Format stores, Megamart operates with more than 7 Lac square feet of Retail space across India.
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
532.624 |
260.068 |
|
Intercorporate borrowings (Inter Corporate Deposits carry interest @ 11% per annum.) |
1661.149 |
983.716 |
|
Total |
2193.773 |
1243.784 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10536592 |
24/11/2014 |
500,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, 1ST FLOOR, B |
C36951077 |
|
2 |
10446576 |
16/08/2013 |
750,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 3RD FLOOR, PARAMASIDDHI COMPLE |
B83787028 |
|
3 |
10446579 |
16/08/2013 |
3,701,200,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 3RD FLOOR, PARAMASIDDHI COMPLE |
B83787606 |
|
4 |
10369345 |
12/06/2012 |
250,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 3RD FLOOR, PARAMASIDDHI COMPLE |
B45213782 |
|
5 |
10309498 |
06/09/2011 |
200,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, COMMERCIAL BRANCH,3RD FLOOR, |
B22254817 |
|
6 |
10309501 |
21/02/2014 * |
4,051,200,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, COMMERCIAL BRANCH, 3RD FLOOR, |
B98642416 |
|
7 |
10275675 |
11/02/2011 |
187,500,000.00 |
BANK OF BARODA |
1ST FLOOR, BANK OF BARODA TOWERS, ELLISBRIDGE, AH |
B09046319 |
|
8 |
10190135 |
11/02/2011 * |
650,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, COMMERCIAL BRANCH,3RD FLOOR, |
B09711425 |
|
9 |
10189726 |
11/02/2011 * |
1,182,800,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, COMMERCIAL BRANCH,3RD FLOOR, |
B09709700 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
Claims against company not acknowledged as debt |
25.690 |
35.492 |
|
Other money for which company is contingently liable |
392.366 |
47.952 |
FIXED ASSETS
v
Tangible
Assets
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
· Leasehold Improvements
v
Intangible
Assets
· Brands and Trade Marks
· Computer Software
· Licenses and Franchise
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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
RBI |
YES/NO |
NO |
|
EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.