MIRA INFORM REPORT

 

 

Report No. :

357124

Report Date :

28.12.2015

 

IDENTIFICATION DETAILS

 

Name :

FUTURE RETAIL LIMITED

 

 

Registered Office :

Knowledge House Shyam Nagar Off. Jogeshwari – Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra

Tele. No. :

91-22-66442200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

12.10.1987

 

 

Com. Reg. No.:

11-044954

 

 

Capital Investment / Paid-up Capital :

Rs. 828.400 Million

 

 

CIN No.:

[Company Identification No.]

L52399MH1987PLC044954

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Subject is primarily engaged in the business of retail trade. (Registered Activity)

 

 

No. of Employees :

23,449 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (54)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 152800000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Future Retail Limited is the flagship company of the Future Group it is a well-established company incorporated in the year 1987 having good track record.

 

The company has progressed well during FY 2015. General financial position of the company is sound and healthy.

 

The ratings also continue to derive strength from the experienced promoters and management team, the company’s proven track record with a leading position in the organized retail business in India and pan- India presence across multiple formats.

 

Directors are reported to be well experienced and respectable businessmen.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered normal business dealings at usual trade and conditions.

 

Note:

On May 4, 2015 Future Retail Limited announced the merger with Bharti Retail Limited (BRL, Wholly owned subsidiary of Bharti Enterprises).

 

It is to be noted that as per Registrar of Companies the status of Future Retail Limited (FRL) is shown as active and it is separate entity till now. 

 

 

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

CARE

Rating

Long term bank facilities : AA-

Rating Explanation

High degree of safety and carry low credit risk.

Date

02.11.2015

 

Rating Agency Name

CARE

Rating

Short term bank facilities : A1+

Rating Explanation

Very Strong degree of safety and carry highest degree safety

Date

02.11.2015

 

 

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 31-03-2015.

 

INFORMATION DENIED

 

Management Non Co-Operative (Tel No.: 91-22-66442200)

 

 

LOCATIONS

 

Registered Office :

Knowledge House Shyam Nagar Off. Jogeshwari – Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India

Tel. No.:

91-22-66442200 / 30842336

Fax No.:

91-22-66442201 / 30842502

E-Mail :

roc.info@futuregroup.in 

investorrelations@futureretail.in

Website :

http://www.pantaloonreatil.in   

http://www.futureretail.co.in 

 

 

Plant Locations :

G-6, MIDC, Tarapur, Dist. Thane, Maharashtra, India

 

 

Zonal Office 1  :

03-097, Fourth Floor, Block No - BG,  Plot No.5, Action Area - 1B, Block By Block Shopping Mall, P.O. - New Town, (Near Indian Oil Petrol Pump), Kolkata – 700156, west Bengal, India

Tel. No.:

91-33-30917500 / 01

Fax No.:

91-33-30917502

 

 

Zonal Office 2  :

9th Floor, Tower C, 247 Park, LBS Marg, Vikhroli (West), Mumbai – 400083, Maharashtra, India

 

 

Zonal Office 3  :

3rd Floor, Zonal Office, City Gold Mall, 132 Feet Ring Road, Near Shyamal Cross Road, Satellite, Ahmedabad – 380015, Gujarat, India

Tel. No.:

91-79-30413700

Fax No.:

91-79-30413737

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Kishore Laxminarayan Biyani

Designation :

Managing Director

Address :

406, Jeevan Vihar, Manav Mandir Road,, Malabhar Hill, Mumbai-400006, Maharashtra, India

Date of Birth :

09.08.1960

Qualifications :

B.Com., PGD in Marketing Management

Experience :

35 Years

Date of Appointment :

01.09.1991

DIN No.:

00005740

 

 

Name :

Mr. Rakesh Biyani

Designation :

Joint Managing Director

Address :

Flat No 1903,19th Floor, B Wing, Vivarea Bldg, Sane Guruji Marg, Jacob Circle, Mumbai-400011, Maharashtra, India

Date of Appointment :

27.07.1992

DIN No.:

00005806

 

 

Name :

Mr. Vijay Biyani

Designation :

Whole time Director

Address :

305, Jeevan Vihar, Manav Mandir Road, Malabhar Hill, Mumbai-400006, Maharashtra, India

Date of Birth :

04.07.1959

Qualifications :

B.Com, Mumbai University

Experience :

31 Years

Date of Appointment :

26.09.2009

DIN No.:

00005827

 

 

Name :

Mr. Doreswamy Sheshagiri Rao

Designation :

Director

Address :

33/3, Juhu Shalimar, Gulmohar Crossroad No. 10, J.V.P.D. Scheme, Mumbai-400049, Maharashtra, India

Date of Appointment :

29.09.2000

DIN No.:

00042897

 

 

Name :

Mr. Anil Harish

Designation :

Director

Address :

13, C.C.I. Chambers, 1st Floor, Dinshaw Wacha Road, Mumbai-400020, Maharashtra, India

Date of Appointment :

24.08.2004

DIN No.:

00001685

 

 

Name :

Mr. Bala Deshpande

Designation :

Director

Address :

Flat No. 2, Sanghi Residency,Palkhi Gully, Off. Cadell Road ,Prabhadevi, Mumbai-400025, Maharashtra, India

Date of Appointment :

09.08.2001

DIN No.:

00020130

 

 

Name :

Mr. Vijay Kumar Chopra

Designation :

Director

Address :

4 - A, 4th Floor, Harmony, Tower, Dr. E Moses Road, Worli, Mumbai-400018, Maharashtra, India

Date of Appointment :

24.07.2008

DIN No.:

02103940

 

 

KEY EXECUTIVES

 

Name :

Mr. Deepak Tanna

Designation :

Company Secretary

Address :

B-22, Vimal Nagar CHS Limited, S.V. Road, Kandivli (West), Mumbai-400067, Maharashtra, India

Date of Appointment :

26.04.2008

PAN No.:

AABPT3574H

 

 

Name :

Mr. Dinesh Maheshwari

Designation :

Chief Financial Officer

 

 

SHAREHOLDING PATTERN

 

As on 30.09.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

As a % of (A+B)

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

201205918

51.81

http://www.bseindia.com/include/images/clear.gifSub Total

201205918

51.81

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

201205918

51.81

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

6908268

1.78

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

5264854

1.36

http://www.bseindia.com/include/images/clear.gifInsurance Companies

4209828

1.08

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

57481179

14.80

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

17968437

4.63

http://www.bseindia.com/include/images/clear.gifForeign Portfolio Investments Corporation

17968437

4.63

http://www.bseindia.com/include/images/clear.gifSub Total

91832566

23.65

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

77506407

19.96

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

9662552

2.49

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

6613533

1.70

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

1500347

0.39

http://www.bseindia.com/include/images/clear.gifClearing Members

535846

0.14

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

338777

0.09

http://www.bseindia.com/include/images/clear.gifTrusts

312800

0.08

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

10000

0.00

http://www.bseindia.com/include/images/clear.gifHindu Undivided Families

302924

0.08

http://www.bseindia.com/include/images/clear.gifSub Total

95282839

24.54

Total Public shareholding (B)

187115405

48.19

Total (A)+(B)

388321323

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

388321323

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is primarily engaged in the business of retail trade. (Registered Activity)

 

 

Products :

Not Divulged 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

 

Selling :

Not Divulged 

 

 

Purchasing :

Not Divulged 

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

23,449 (Approximately)

 

 

Bankers :
  • Punjab National Bank , Large Corporate Branch, Maker Tower E, Ground Floor, Cuffe Parade, Mumabi- 400005, Maharashtra, India
  • Axis Bank Limited, Axis House, 2nd Floor, Wadia International Centre, Pandurang Bhudhkar Marg, Worli, Mumbai- 400025, Maharashtra, India
  • Bank of Baroda, Corporate Financial Services Branch, Fort, 4th Floor, 10/12 Mumbai Samachar Marg, Mumbai- 400023, Maharashtra, India
  • Syndicate Bank, Large Corporate Branch, Maker Tower E Wing, 2nd Floor, Cuffe Parade, Mumbai- 400005 , Maharashtra, India
  • Allahabad Bank
  • State Bank of Travancore
  • UCO Bank
  • Union Bank of India
  • Vijaya Bank
  • Andhra Bank
  • Bank of India
  • Central Bank of India
  • Corporation Bank
  • Dena Bank
  • IDBI Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2015

Rs. In Million

31.03.2014

Rs. In Million

LONG TERM BORROWINGS

 

 

Non-Convertible Debentures

14050.000

19525.000

Term Loans from Banks

14135.600

18027.000

Term Loan from Other

1000.000

00000

 

 

 

SHORT TERM BORROWINGS

 

 

Term Loans from Banks

1500.000

3000.000

Working Capital Loans from Banks

9685.700

9658.500

Total

40371.300

50210.500

 

 

Financial institution :

Centbank Financial Services Limited , Central Bank of India-MMO Building, 3rd Floor (East), 55 Mahatma Gandhi Road, Fort, Mumbai- 400001, Maharashtra , India

 

Auditors :

 

Name :

NGS and Company LLP

Chartered Accountants

 

 

Subsidiary Companies:
  • Future Bazaar India Limited
  • Future Knowledge Services Limited (till September 30, 2014)
  • Future Media (India) Limited
  • Future Agrovet Limited (till November 11, 2013)
  • Future Supply Chain Solutions Limited
  • FSC Brand Distribution Services Limited (till September 15, 2014)
  • Future Learning and Development Limited (till September 30, 2014)
  • Home Solutions Retail (India) Limited (till September 30, 2014)
  • Future Freshfoods Limited (till September 30, 2014)
  • Future Home Retail Limited (till September 30, 2014)
  • Future E-Commerce Infrastructure Limited (till March 31, 2014)
  • nuZone E-commerce Infrastructure Limited (till September 30, 2014)
  • Office Shop Private Limited
  • Staples Future Office Products Limited
  • Winner Sports Limited (till September 30, 2014)
  • Future Lifestyle Fashions Limited (till June 24, 2013)

 

 

Associates  :
  • Galaxy Entertainment Corporation Limited
  • Future E-Commerce Infrastructure Limited (w.e.f. April 1, 2014)

 

 

Joint Ventures   :
  • Apollo Design Apparel Parks Limited
  • Future Generali India Insurance Company Limited
  • Future Generali India Life Insurance Company Limited
  • Goldmohur Design and Apparel Park Limited
  • Integrated Food Park Private Limited
  • Sprint Advisory Services Private Limited
  • Shendra Advisory Services Private Limited

 

 

Enterprises over which Key Management Personnel are able to exercises significant influence  :
  • Future Corporate Resources Limited
  • Future Ideas Company Limited
  • Future Lifestyle Fashions Limited 
  • Vayuputra Realty Private Limited
  • Festive Realty Private Limited
  • Surplus Finvest Private Limited
  • Utsav Mall Management Company Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

450000000

Equity Shares

Rs.2/- each

Rs.900.000 Million

50000000

Equity Shares of Class B

Rs.2/- each

Rs.100.000 Million

3000000

 Preference Shares

Rs.100/- each

Rs.300.000 Million

 

Total

 

Rs.1300.000 Million

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

388417201

Equity Shares

Rs.2/- each

Rs.776.800 Million

25884872

Equity Shares of Class B

Rs.2/- each

Rs.51.800 Million

 

Total

 

Rs.828.600 Million

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

388321323

Equity Shares

Rs.2/- each

Rs.776.600 Million

25876379

Equity Shares of Class B

Rs.2/- each

Rs.51.800 Million

 

Total

 

Rs.828.400 Million

 

 

Reconciliation of the number of shares

 

Equity Shares of Class B (Series -1) of Rs. 2/- each

 

Particulars

Rs. In Million

Opening Balance

215653439

Shares Issued

172667884

Shares Issued on Conversion of Preference Shares

--

Closing Balance

388321323

 

Equity Shares of Class B (Series -1) of Rs. 2/- each

 

Particulars

Rs. In Million

Opening Balance

15929152

Shares Issued

9947227

Closing Balance

25876379

 

Terms/Rights Attached to Equity Shares

 

The Company has Equity Shares having a par value of Rs. 2/- each at the Balance Sheet Date. Equity Shares have been further classified in to Equity Shares carrying normal voting and dividend rights (Ordinary Shares) and Equity Shares carrying differential voting and dividend rights Class B (Series-1) Shares.

 

Each holder of Ordinary Shares, is entitled to one vote per member in case of voting by show of hands and one vote per Ordinary Shares held in case of voting by poll/ballot. Each holder of Equity Share is also entitled to normal dividend (including interim dividend, if any) as may declared by the Company. Each holder of Class B (Series -1) Shares, is entitled to one vote per member in case of voting by show of hands and three vote per four Class B (Series-1) shares held in case of voting by poll/ballot.

 

Each holder of Class B (Series-1) Share is also entitled to 2% additional dividend in addition to normal dividend (including interim dividend, if any) as may declaredby the Company. Further, the Company may declare dividend only for Class B (Series-1) Share up to 2% without declaring any dividend for Equity Shares.

 

All other rights would be same for both classes of Equity Shares.

 

The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the Annual General Meeting.

 

In the event of liquidation of company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distributions will be in proportion to the number of equity shares held by shareholder.

 

 

The Company does not have any holding Company.

 

 

Shares in the Company held by each shareholder holding more than 5 percent shares and number of Shares held areas under:

 

 

Details of equity shares held by shareholders holding more than 5% shares:

 

Name of Shareholder

Number of Shares

% holding

Future Corporate Resources Limited

15,75,96,398

40.58

PIL Industries Limited

3,78,98,109

9.76

ARISAIG Partners (Asia) PTE Limited A/c Arisaig India Fund Limited

3,16,37,118

8.15

Brand Equity Treaties Limited

2,49,99,999

6.44

Counseled Mercantile Private Limited

2,18,28,193

5.62

Bennett, Coleman and Company Limited

2,03,91,700

5.25

Equity Shares of Class B (Series-1) Shares

 

 

PIL Industries Limited

57,38,034

22.17

Gargi Developers Private Limited

45,50,000

17.58

Manz Retail Private Limited

15,79,103

6.10

 

 

(v) Pursuant to the provisions of the Companies Act, 1956 and Companies Act 2013, the issue of equity shares are kept in abeyance.

a) 11,400 Equity Shares of Rights Issue of 2006.

b) 84,478 Equity Shares of Rights Issue of 2015.

c) 8,493 Equity Shares of Class B (Series-1) of Rights Issue of 2015

 

(vi) Shares allotted as fully paid up without payment received in cash (during 5 years preceding March 31, 2015). Allotted 59,28,818 Equity Shares of Rs. 2/- each and 63,47,635, 0.01% Compulsory Convertible Preference Shares of Rs. 100/- each as fully paid up pursuant to Scheme of Arrangement.

 

(vii) Share reserved for issue under options and contracts including the terms and amounts: For Detail of shares reserved for issue under the Employee Stock Options Plan (ESOP) of the company. (Refer Note 48).

 

(viii) The Company has issued 1,34,98,300 Class-B warrants where each warrant would entitle one Equity Shares of Class B at price of Rs. 68.69 per Share. An amount equivalent to 25% of Rs. 927.200 Million i.e. Rs. 231.800 Crore has been received on allottment of the warrants.

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

(12 Months)

31.03.2014

(15 Months)

31.12.2012

(18 Months)

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

828.400

463.200

463.200

(b) Reserves & Surplus

50919.000

32053.300

32762.300

(c) Equity Warrants

231.800

0.000

0.000

(d) Optionally Fully Convertible Debenture

0.000

0.000

8000.000

(e) Compulsory Convertible Debenture

0.000

1500.000

0.000

(f) Optionally Convertible Debenture

1500.000

2500.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

53479.200

36516.500

41225.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

29185.600

37552.000

18544.200

(b) Deferred tax liabilities (Net)

1674.800

1801.800

949.900

(c) Other long term liabilities

0.000

0.000

1500.000

(d) long-term provisions

191.200

160.300

53.200

Total Non-current Liabilities (3)

31051.600

39514.100

21047.300

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

11323.700

13486.000

5511.800

(b) Trade payables

20420.300

12240.200

8100.200

(c) Other current liabilities

9547.600

11540.700

9809.100

(d) Short-term provisions

342.500

198.400

335.300

Total Current Liabilities (4)

41634.100

37465.300

23756.400

 

 

 

 

TOTAL

126164.900

113495.900

86029.200

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

45975.800

41125.800

21862.900

(ii) Intangible Assets

2340.800

2276.700

970.200

(iii) Capital work-in-progress

2749.200

3638.200

2097.300

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

12951.600

13495.200

22802.300

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

4781.900

3709.900

7640.100

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

68799.300

64245.800

55372.800

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

35226.800

31132.900

21402.400

(c) Trade receivables

3979.700

3139.800

1650.100

(d) Cash and cash equivalents

1044.900

1024.800

555.300

(e) Short-term loans and advances

17023.800

13793.300

6909.900

(f) Other current assets

90.400

159.300

138.700

Total Current Assets

57365.600

49250.100

30656.400

 

 

 

 

TOTAL

126164.900

113495.900

86029.200

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

(12 Months)

31.03.2014

(15 Months)

31.12.2012

(18 Months)

 

SALES

 

 

 

 

 

Revenue from operations

103416.600

115774.400

69877.300

 

 

Other Income

267.300

277.400

277.000

 

 

TOTAL                                     (A)

103683.900

116051.800

70154.300

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

166.700

218.500

252.100

 

 

Purchases of Stock-in-Trade

78034.900

84988.700

48151.100

 

 

Changes in Inventories of Finished Goods, Work-in-Progress and

Stock-in-Trade

(4119.800)

(230.700)

(3959.300)

 

 

Employee Benefit Expenses

3818.700

4239.400

3363.100

 

 

Other Expenses

14355.700

16161.000

14307.300

 

 

Exceptional Items

(1005.100)

(306.600)

(2566.000)

 

 

TOTAL                                     (B)

91251.100

105070.300

59548.300

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

12432.800

10981.500

10606.000

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

6690.400

6925.400

4604.100

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

5742.400

4056.100

6001.900

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

5128.800

4043.400

3118.700

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

613.600

12.700

2883.200

 

 

 

 

 

Less

TAX                                                                  (H)

(127.000)

(15.400)

150.600

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

740.600

28.100

2732.600

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

686.400

6540.700

5063.500

 

 

 

 

 

Less

On Composite Schemes of Arrangements

0.000

4516.200

0.000

 

 

 

 

 

Less

Adjustment Relating to Fixed Assets

32.100

0.000

0.000

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

 

Debenture Redemption Reserve

0.000

1200.000

693.800

 

 

Transfer to General Reserve

74.100

2.800

273.000

 

 

Proposed Dividend on Preference Shares

249.600

139.700

255.400

 

 

Tax on Dividend

49.900

23.700

41.400

 

BALANCE CARRIED TO THE B/S

1021.300

686.400

6540.700

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Basis

707.000

884.300

851.300

 

TOTAL EARNINGS

707.000

884.300

851.300

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

2.500

0.900

2.700

 

 

Stores & Spares/ Stock in Trade

1367.000

1338.000

1159.800

 

 

Capital Goods

318.200

297.600

101.800

 

 

Accessories and Others

12.500

13.400

13.900

 

TOTAL IMPORTS

1700.200

1649.900

1278.200

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.75

0.12

12.08

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

(12 Months)

31.03.2014

(15 Months)

31.12.2012

(18 Months)

Current Maturities of Long term debt

6218.200

7641.500

3015.300

Cash generated from operations

9860.700

583.400

84.600

Net Cash From Operating Activities

9662.600

(716.900)

(49.200)

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

 

30.06.2015

30.09.2015

Type

 

1st Quarter

2nd Quarter

Net Sales

 

28994.600

30984.200

Total Expenditure

 

26142.800

28212.100

PBIDT (Excl OI)

 

2851.800

2772.100

Other Income

 

92.300

131.900

Operating Profit

 

2944.100

2904.000

Interest

 

1510.800

1352.900

Exceptional Items

 

NA

NA

PBDT

 

1433.300

1551.100

Depreciation

 

1342.100

1358.400

Profit Before Tax

 

91.200

192.700

Tax

 

30.200

56.100

Provisions and contingencies

 

NA

NA

Profit After Tax

 

61.000

136.600

Extraordinary Items

 

NA

NA

Prior Period Expenses

 

NA

NA

Other Adjustments

 

NA

NA

Net Profit

 

61.000

136.600

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

(12 Months)

31.03.2014

(15 Months)

31.12.2012

(18 Months)

Net Profit Margin

(PAT/Sales)

(%)

0.72

0.02

3.91

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

12.02

9.49

15.18

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.56

0.01

4.72

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.00

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.76

1.40

0.58

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.38

1.31

1.29

 

 

STOCK PRICES

 

Face Value

Rs.2.00

Market Value

Rs.153.40

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.12.2012

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

463.200

463.200

828.400

Reserves & Surplus

32762.300

32053.300

50919.000

Equity Warrants

0.000

0.000

231.800

Optionally Fully Convertible Debenture

8000.000

0.000

0.000

Compulsory Convertible Debenture

0.000

1500.000

0.000

Optionally Convertible Debenture

0.000

2500.000

1500.000

Net worth

41225.500

36516.500

53479.200

 

 

 

 

long-term borrowings

18544.200

37552.000

29185.600

Short term borrowings

5511.800

13486.000

11323.700

Current maturities of long-term debts

3015.300

7641.500

6218.200

Total borrowings

27071.300

58679.500

46727.500

Debt/Equity ratio

0.657

1.607

0.874

 

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2012

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

69877.300

115774.400

103416.600

 

 

65.682

(10.674)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2012

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

69877.300

115774.400

103416.600

Profit

2732.600

28.100

740.600

 

3.91%

0.02%

0.72%

 

 

 

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

Yes

10

Date of Birth of Proprietor / Partners / Directors

No

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

Bench:- Bombay

Presentation Date:- 26/11/2015

Lodging No. :

ARBPL/2142/2015

Failing Date:-

26/11/2015

Reg. No.:-

ARBP/1874/2015

Reg. Date:-

23/12/2015

 

 

 

 

Petitioner:-

CENTRUM CAPITAL LIMITED

Respondent:-

FUTURE RETAIL LIMITED

Petn.Adv:-

BHARUCHA & PARTNERS (190)

Res. Adv.:-

0(0)

District:-

MUMBAI

Bench:-

SINGLE

Category:-

ARBITRATION ACT.

Status:-

Pre-Admission

Stage:-

FOR AD-INTERIM RELIEF [ORIGINAL SIDE MATTERS]

Next Date:-

02/02/2016

Stage:-

FOR AD-INTERIM RELIEF [ORIGINAL SIDE MATTERS]

Coram:-

HON'BLE SMT. JUSTICE R.P. SONDURBALDOTA

 

 

Last Date:-

18/12/2015

 

 

Last Coram:-

HON'BLE SMT. JUSTICE R.P. SONDURBALDOTA

 

 

Act. :

Arbitration and Conciliation Act 1996

Under Section:

9

 

 

UNSECURED LOANS:

 

Particulars

31.03.2015

Rs. In Million

31.03.2014

Rs. In Million

SHORT TERM BORROWINGS

 

 

Loans from Related Parties

138.000

827.500

Total

138.000

827.500

 

 

 

INDEX OF CHARGE:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10608785

10/11/2015

3,000,000,000.00

Centbank Financial Services Limited

Central Bank of India-MMO Building, 3rd Floor (East), 55 Mahatma Gandhi Road, Fort, Mumbai, Maharashtra 
- 400001, INDIA

C71518674

2

10608786

10/11/2015

1,000,000,000.00

Centbank Financial Services Limited

Central Bank of India-MMO Building, 3rd Floor (East), 55 Mahatma Gandhi Road, Fort,, Mumbai, Maharashtra 
- 400001, INDIA

C71521793

3

10599450

16/10/2015

3,000,000,000.00

Punjab National Bank

Large Corporate Branch, Maker Tower E, Ground Floor, Cuffe Parade,, Mumabi, Maharashtra - 400005, INDIA

C68600196

4

10604983

03/10/2015

1,500,000,000.00

Axis Bank Limited

Axis House, 2nd Floor, Wadia International Centre, Pandurang Bhudhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA

C71548937

5

10601254

21/09/2015

500,000,000.00

Axis Bank Limited

Axis House, 2nd Floor, Wadia International Centre, Pandurang Bhudhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA

C69476513

6

10588944

03/09/2015

2,000,000,000.00

Syndicate Bank

Large Corporate Branch, Maker Tower E Wing, 2nd Floor, Cuffe Parade,, Mumbai, Maharashtra - 400005 , INDIA

C63073696

7

10588564

30/07/2015

2,000,000,000.00

Bank of Baroda

Corporate Financial Services Branch, Fort, 4th Floor, 10/12 Mumbai Samachar Marg., Mumbai, Maharashtra - 400023, INDIA

C62847207

8

10587617

24/07/2015

500,000,000.00

Centbank Financial Services Limited

Central Bank of India-MMO Building, 3rd Floor (East), 55 Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, INDIA

C61747770

9

10588574

24/07/2015

1,150,000,000.00

Centbank Financial Services Limited

Central Bank of India-MMO Building, 3rd Floor (East), 55 Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, INDIA

C61748679

10

10587621

24/07/2015

350,000,000.00

Centbank Financial Services Limited

Central Bank of India-MMO Building, 3rd Floor (East), 55 Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, INDIA

C61749230

 

 

*Date of modification Charges

 

 

REVIEW OF PERFORMANCE

 

This was first full year of performance after realignment of all value retail business under one Company. The Company is now operating in supermarket, home fashion and electronic business which interalia includes formats like Big Bazaar, Food Bazaar, fbb, Food Hall, Home Town and eZone.

 

They are pleased to inform you that the Retail business of the Company has been showing growth trend during the financial year under review. During the year the Company has recorded growth through increase in presence in various cities. Income from operations for the financial year 2014-15, for the year under review was at Rs. 103416.600 Million, which was at Rs. 115774.400 Million (on 12 months ended March 2014 basis Rs. 92411.600 Million) during the financial period of 2013‑14. EBIDTA excluding exceptional items, stood at Rs. 11427.600 Million during the financial year 2014‑15, which was at Rs. 10675.000 Million (on 12 months ended March 2014 basis Rs. 8871.100 Million) in the previous financial period. PAT for the financial year was Rs. 740.600 Million, which was at Rs. 28.100 Million (on 12 months ended March 2014 basis Rs. 77.100 Million) for the preceding financial period. Due to various realignment exercises undertaken by the Company and different duration of the current financial year and previous financial period, the current financial year result is not comparable with the previous financial period result, which was of fifteen months.

 

During the financial year 2014-15, the Company is operating through 11.360 million square feet of retail space, spread over pan India basis.

 

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

Operational Overview

 

With its efforts to optimise productivity per store basis, the management was reviewing the available retail space and product mix and striving to provide better productivity in terms of increased customer foot fall, higher ticket size and improved profitability, by reducing overall costs as well as increasing margins earned from upgraded products offering to customers.

 

In a bid to provide improved and upgraded product mix, the fashion products offered through fbb proved very helpful. The newer food categories and offering of food products of Sunkist and Nilgiris among other newer categories, gave wider choice to customers resulting in higher ticket size. Hub and spoke approach for the electronics stores also resulted in increased productivity per store and better customer satisfaction in terms of product offerings and after sales service. In home fashion segment as well the revamped furniture and home furnishings saw better through put and increased turnover in home fashion stores.

 

The Company has also undertaken various analytical studies of customer behaviour and spending pattern as well as improved technology platform at store level and back end, enabled to improve customer experience in terms of better and accessible store layouts, more payment options, faster check-outs etc. Uniform store layouts and resource planning enabled reduced time frame for opening of new stores.

 

Customer and Marketing Overview

 

During the year, the company continued to carry out various activities and promotional events to engage with the customer across formats. Various promotional event includes, Weekly Promotional Event, Wednesday Bazaar, Public Holiday Sale, Independence Sale, Sabse Saste 4 Din and other format specific promotional events. Further at group level, the Company was also part of Free Future Group Shopping Festival. Various promotional events, activities and initiatives resulted in higher footfalls during promotions as well as acquisition of new customers. Events like Future Group Shopping Festival ensured that customer visiting any of the Future Group shopping formats at least once in a month. Cross promotional events ensured that the customers of one format visit other format

 

In its fbb format, the Company has created new fashion wave, at affordable price. Celebrity endorsements and association of fbb with Femina Miss India 2015, continued to highlight its latest fashion wear collection, and customer frequently patronise fbb for its fashion needs.

 

The campaign “Making India Beautiful” has been a good success, connecting new customers to Big Bazaar stores. As the campaign was for newer categories, for aspirational and premium products, it brought new categories of customers to Big Bazaar, who contributed in overall revenue generation.

 

The Company also continued with its loyalty programs and also introduction of Big Bazaar Profit Club further ensured customer loyalty of a new set of customers who are looking at every opportunity of saving. Big Bazaar Profit Club has proved to be a valuable loyalty program that brings back customers to stores at least twelve times in a year, resulting in higher frequency and cumulatively higher annual sales. These programs are further leveraged for driving promotions and direct communication with customers offering customized merchandise. The Company has been recognised for its operations in retail sector in following manner. • Future Retail won the Dun & Bradstreet (D&B) Corporate Award 2015 for its leading performance in Retail sector. • Food Bazaar won the ‘Images Excellence Awards for Largest National Expansion’ for the year 2014. • Big Bazaar won the ‘Images Most Admired Food & Grocery Retailer’ for the Year in Food and Grocery category.

 

Business Outlook

 

In FY 2015-16, FRL will emerge as a core retail company with an enhanced distribution network. The Company is also increasing its presence in online as well as in omni channel. Revenue growth will be driven by store additions, increased productivity and efficiency and thereby increased per store and per square feet revenue. The management is striving to reduce overall cost as well as increase high margin product mix to improve profitability. Further exponential growth in overall revenue due to proposed acquisitions of retail business, it will also be able to establish once again among the leader in retail industry. With revised emphasis on reducing financing cost and curb overall debt equity ratio, the Company would be able to increase the value for its shareholders and with its approach for overall development will be able to satisfy its other stakeholders as well.

 

With overall stability and country’s economy poised for growth, the consumption sector will also experience new and much required thrust for increased consumer demand. Further, the Company would be in better position to get maximum benefit by the increased consumer spending, due to its presence in areas of high consumption cities and strategic locations of its various formats as well as its presence in other sectors through its omni channel. With improved debt equity ratio, due to increase in net worth of the Company and subsequent reduction of the debts, the Credit Analysis and Research Limited (CARE), has revised its rating for Short Term borrowings to CARE A1+ [A One Plus] and Long Term borrowings as well as Long Term Non-Convertible Debentures to CARE AA- [Double A Minus] as of March 31, 2015.

 

 

AWARDS AND RECOGNITIONS

 

·         Hat-trick of Awards at INTEROP Awards 2014

Business Technology Services Scores A Hat-trick of Awards at INTEROP Awards 2014.

 

·         Asia Pacific HRM Congress 2014

Future Learning triumphs at Asia Pacific HRM Congress 2014 in the ‘Innovation in Retention’ category.

 

·         ‘Power To The People’ and ‘From Grocery to Gift’ at the esteemed EFFIE Awards

Big Bazaar was awarded with ‘Power To The People’ and ‘From Grocery to Gift’ at the esteemed EFFIE Awards.

 

·         Images Most Admired Food & Grocery Retailer of the Year

Big Bazaar won the ‘Images Most Admired Food & Grocery Retailer of the Year in Food & Grocery category.

 

·         Images Excellence Awards for Largest National Expansion

Food Bazaar won the ‘Images Excellence Awards for Largest National Expansion’ for the year 2014

 

·         Dun & Bradstreet (D&B) Corporate Award 2015

Future Retail won the Dun & Bradstreet (D&B) Corporate Award 2015 for its leading performance in the Retail sector.

 

 

CONTINGENT LIABILITIES

 

Particulars

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

A. Claims Against the Company Not Acknowledged as Debts

 

 

i) Value Added Tax Act/Income Tax

1939.400

416.300

ii) Others

3008.200

3416.300

B. Corporate Guarantees Given on Behalf of Group Companies

345.400

345.400

 

 

STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2015

 

(Rs. In Million)

Sr.

No

 

 

Particulars

Standalone

Quarter Ended

30.06.2015

Unaudited

1

Income From Operations

 

 

a. Net Sales/ Income from  Operations

(Net of Excise Duty)

28468.400

 

b. Other Operating Income

526.200

 

Total Income from Operations (Net)

28994.600

2

Expenditure

 

 

a. Cost of material Consumed

54.800

 

b. Purchase of Stock-in trade

21641.300

 

c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade

(726.900)

 

d. Employees Benefit Expenses

1068.800

 

e. Depreciation and Amortisation Expenses

1342.100

 

f. Rent Including Lease rental  

1513.300

 

f. Other expenses

2591.500

 

Total Expenses

27484.900

3

Profit from Operations before Other Income, Interest and Exceptional Items

1509.700

4

Other Income

92.300

5

Profit from ordinary activities before finance cost & exceptional items

1602.00

6

Finance Costs

1510.800

7

Profit from ordinary activities after finance costs & exceptional items

91.200

8

Exceptional items

--

9

Profit from ordinary activities before tax

91.200

10

Tax Expense

30.200

11

Net Profit from ordinary activity after tax

61.000

12

Extraordinary Items

--

13

Net Profit After Tax

61.000

14

Paid-up equity share capital (face value of Rs.10 per share)

828.400

15

Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year

 

16

Earning Per Share (of Rs.10 each) (not annualized)

 

 

Basic EPS 

 

 
  1. Equity Shares

0.14

 
  1. Class B shares (Series1)

0.18

 

Diluted EPS

 

 
  1. Equity Shares

0.14

 
  1. Class B shares (Series1)

0.18

A

PARTICULARS OF SHAREHOLDING

 

17

Public Shareholding

 

 

A)    Equity Shares - No. of shares

190545678

 

- Percentage of shareholding

49.07%

 

 

 

 

B)    Class B Shares (Series1)

19065108

 

- Percentage of shareholding

42.37%

18

Promoter & Promoter Group Shareholding

 

 

a) Pledged/Encumbered

 

 

- No. of Equity shares

146073250

 

- No. of Class B shares

2488034

 

- Percentage of Equity shares (as a % of the total shareholding of promoter and promoter group)

73.86%

 

- Percentage of Class B shares (as a % of the total shareholding of promoter and promoter group)

16.89%

 

- Percentage of Equity shares (as a % of the total share capital of the company)

37.62%

 

- Percentage of Class B shares (as a % of the total share capital of the company)

9.62%

 

b) Non-encumbered

 

 

- No. of Equity shares

51702395

 

- No. of Class B shares

12423237

 

- Percentage of Equity shares (as a % of the total shareholding of promoter and promoter group)

26.14%

 

- Percentage of Class B shares (as a % of the total shareholding of promoter and promoter group)

83.31%

 

- Percentage of Equity shares (as a % of the total share capital of the company)

13.31%

 

- Percentage of Class B shares (as a % of the total share capital of the company)

48.01%

 

 

 

Particulars

Quarter ended

30.06.2015

B

Investor Complaints

 

 

Pending at the beginning of the quarter

Nil

 

Received during the quarter

7

 

Disposed off during the quarter

7

 

Remaining unresolved at the end of the quarter

Nil

 

Note :

 

1. The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors of the Company at its meeting held on August 07, 2015 Statutory Auditors have issued Limited Review report on the same.


2. Out of the total issue proceeds of Rs. 15878.000 Million, Rs. 14444.800 Million has been utilised till June 30, 2015 and further identified debts of Rs. 37.500 Million has been repaid after June 30, 2015 till date of announcement of the financial results for quarter 1 of 2015-16. Taking aggregate utilisation to Rs. 14482.300 Million 91.20% of Rights issue proceeds The Company proposes to repay the balance of identified debts during the first six months of the current financial year.


3. Figures for the previous financial period have been re-arranged and re-grouped wherever necessary.


4. The Company has only one business segment i.e. "Retail".

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

 

Website Details

 

Press Release/ NEWS

 

Future Group to tie up with Baba Ramdev's Patanjali

 

December 24, 2015

 

Kishore Biyani's Future Group is all set to announce a tie-up with Baba Ramdev’s Patanjali. The former will get exclusively right to sell the latter’s products in Future outlets like Nilgiris, Food Bazaar, Food Hall and Big Bazaar.

 

Fast moving consumer goods (FMCG) major Patanjali is no small fish in the market. The company has surpassed listed companies like Proctor and Gamble, Emami and Jyothy Labs  in terms of annual revenue.

 

With revenue of Rs 25000.000 Million, its valuation goes up to a whopping Rs 140000.000 Million.

 

Patanjali Group is targeting revenues of about Rs 50000.000-100000.000 Million in the next few years. It also plans to launch new products including instant noodles, malted food and oral care.

 

Sources say that Future Retail  is also eyeing close to Rs 15000.000 Million revenue from this deal and is expected to expands its customer base by one crore people.

 

One interesting fact about Patanjali is that though all its products have Baba Ramdev’s face on it, the yoga guru does not own any stake in the company.

 

 

FUTURE RETAIL ALLOTS RS 7500.000 MILLION NON CONVERTIBLE DEBENTURES

 

October 5, 2015

 

The NCDs shall be listed on Wholesale Debt Market segment of BSE, the filing said. In last two days, Future Retail has allotted NCDs totaling Rs 1200.000 Million.

 

Future Retail  said it has allotted non-convertible debentures (NCDs) totaling Rs. 7500.000 Million on private placement basis. The committee of directors of the company has approved allotment of 7,500 NCDs of Rs 1.000 Million each, Future Retail said in a BSE filing.

 

"The Committee at its meeting held today considered, approved and allotted 7,500, 10.10 percent secured redeemable NCDs of Rs 1.000 Million each, aggregating to Rs. 7500.000 Million, on private placement basis," it added.

 

The NCDs shall be listed on Wholesale Debt Market segment of BSE, the filing said. In last two days, Future Retail has allotted NCDs totaling Rs 1200.000 Million.

 

Future Retail stock price

 

On December 24, 2015,

 

Future Retail closed at Rs 154.00, up Rs 1.15, or 0.75 percent. The 52-week high of the share was Rs 172.85 and the 52-week low was Rs 87.30.

 

The company's trailing 12-month (TTM) EPS was at Rs 0.83 per share as per the quarter ended September 2015.

 

The stock's price-to-earnings (P/E) ratio was 185.54. The latest book value of the company is Rs 124.40 per share. At current value, the price-to-book value of the company is 1.24.

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.66.20

UK Pound

1

Rs.98.29

Euro

1

Rs.72.41

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYTK

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--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

 

54

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NB

NEW BUSINESS

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.