MIRA INFORM REPORT
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Report No. : |
306758 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MADURA GARMENTS LIFESTYLE RETAIL COMPANY LIMITED |
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Registered
Office : |
Indian Rayon Compound, Veraval – 362266, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.05.2007 |
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Com. Reg. No.: |
04-058604 |
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Capital
Investment / Paid-up Capital : |
Rs. 1088.889 Millions |
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CIN No.: [Company Identification
No.] |
U18101GJ2007PLC058604 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM11824B |
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PAN No.: [Permanent Account No.] |
AAFCM0483M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in designing, manufacturing,
distributing and retailing apparel for men, women, youth, and children and the
company also sells its products through exclusive and franchise stores,
shop-in-shops, multi-brand trade outlets, hypermarkets, and department
stores. |
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|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a 100% subsidiary of Aditya Birla Nuvo Limited (ABNL). It
is an established company having a satisfactory track record. The company has incurred an operational loss during FY 2013-14. Due to
which the reserves of company has declined to a considerable extent. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. In view of strong holding company, the subject can be considered normal
for 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 |
ICRA |
|
Rating |
NCDs “AA+” (Structural Obligation) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
August, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Mohna Sundaram |
|
Designation : |
Company Secretary |
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Contact No.: |
91-80-67881000 |
|
Date : |
05.02.2015 |
LOCATIONS
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Registered Office : |
Indian Rayon Compound, Veraval - 362266, Gujarat, India |
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Tel No.: |
91-2876-245711 |
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Fax No.: |
91-2876-243220 |
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E-Mail : |
mohana.sundaram@madura.adityabirla.com
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|
Website: |
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|
Area: |
4000 sq. ft. |
|
Location : |
Leased |
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|
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Factory : |
No.110 4th Cross, 5th Block, Koramangala
Industrial Layout, Koramangala, Bangalore - 560095, Karnataka, India |
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Tel. No.: |
91-80-66915000 / 66182000 |
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Fax No.: |
91-80-66915050 |
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E-Mail : |
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Website: |
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Area: |
4000 Sq. ft. |
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Location: |
Leased |
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Corporate
Office: |
Aditya Birla Group, 111-112, 3rd Cross, 1st
Main, 7th Block Koramangala, Bangalore - 560095, Karnataka, India |
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|
|
Bangalore Office
: |
Plot No. 5B, Regent Gateway, Doddanakundi Village, KIADB Industrial
Area, ITPL Road, Bangalore - 560048, Karnataka, India |
|
Tel No.: |
91-80-67881095/67881000 |
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Fax No.: |
91-80-67271616 |
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Email: |
DIRECTORS
As on 25.08.2014
|
Name : |
Mr. Pranab Barua |
|
Designation : |
Director |
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Address : |
D-1, Cedar Crest, 258, 10th Main Defence Colony,
Indiranagar, Bangalore - 560038, Karnataka, India |
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Date of Birth/Age : |
21.09.1952 |
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Qualification : |
BA Honours |
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Date of Appointment : |
27.01.2009 |
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DIN No.: |
00230152 |
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Name : |
Mr. Ashish Dikshit |
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Designation : |
Director |
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Address : |
E-405, Raheja Residency, 8th C, Main Road, Koramangala. 3rd
Block, Bangalore - 560034, Karnataka, India |
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Date of Birth/Age : |
15.07.1969 |
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Qualification : |
PGDM and BE |
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Date of Appointment : |
15.07.2009 |
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DIN No.: |
01842066 |
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|
|
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Name : |
Mr. Srinivasan Visvanathan |
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Designation : |
Director |
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Address : |
No. 481, First Floor, 15th Main, 16th Cross, HSR
Layout, Sector 4, Bangalore-560102, Karnataka, India |
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Date of Birth/Age : |
02.06.1960 |
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Qualification : |
Chartered Accountant and B. Com |
|
Date of Appointment : |
20.09.2009 |
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DIN No.: |
02312556 |
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|
|
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Name : |
Rajesh Kailashchandra Shah |
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Designation : |
Director |
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Address : |
4/404, Raheja Tipco Heights, Rani Sati Marg, Malad (East),
Mumbai - 400097, Maharashtra, India |
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Date of Birth/Age : |
29.08.1968 |
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Qualification : |
Chartered Accountant and B. Com. |
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Date of Appointment : |
31.10.2013 |
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DIN No. : |
06390775 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Dikshit |
|
Designation : |
Manager |
|
Address : |
E-405, Raheja residency, 8th C, Main Road, Koramangala, 3rd
Block, Bangalore - 560034, Karnataka. |
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Date of Birth/Age : |
15.07.1969 |
|
Qualification : |
Post Graduate |
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Date of Appointment : |
15.07.2009 |
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PAN No. : |
ADXPA0013B |
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|
|
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Name : |
Mr. Mohana Sundaram G |
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Designation : |
Secretary |
|
Address : |
No. 382, MSR Nagar, Bangalore-560054, Karnataka, India |
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Date of Birth/Age : |
17.10.1967 |
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Date of Appointment : |
15.10.2008 |
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PAN No. : |
AMIPS5440E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.08.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Aditya Birla Nuvo Limited, India |
98838896 |
|
ABNL Investment Limited, India |
49994 |
|
Total |
98888890 |
|
Names of Preference Shareholder |
No. of Shares |
|
ABNL Investment Limited, India |
10000000 |
|
Total |
10000000 |
As on 25.08.2014
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 designing, manufacturing,
distributing and retailing apparel for men, women, youth, and children and
the company also sells its products through exclusive and franchise stores,
shop-in-shops, multi-brand trade outlets, hypermarkets, and department
stores. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
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 management |
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Bankers : |
· HDFC Bank Limited, Municipal No. 8/24, Richmond Road, Corpn Div 61, Bangalore – 560025, Karnataka, India · State Bank of India, Ind Finance Branch Residency Plaza, Residency Road Bangalore - 560025, Karnataka, India · Dhanalakshmi Bank Limited, Ground Floor, Janmabhoomi Bhavan, Janmabhoomi Marg, Fort, Mumbai - 400001, Maharashtra, India · HDFC Bank Limited, Salco Centre, Richmond Road, Bangalore - 560025, Karnataka, India |
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Facilities : |
NOTE SHORT TERM
BORROWINGS Working Capital Borrowings from Banks - Secured: Working
Capital borrowings are secured by Second charge by way of hypothecation of Company's
entire Current assets including stocks of raw materials, semi-finished and
finished goods, consumable stores and spares and such other movables, book
debts, bills whether documentary or clean, outstanding monies, receivables,
both present and future. Corporate Guarantee issued by the Holding Company
Aditya Birla Nuvo Limited |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Center, Anchorage II, 100/2, Richmond Road, Bangalore -
560025, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Controlling Company
: |
Aditya Birla Nuvo Limited (ABNL) CIN No.: L17199GJ1956PLC001107 |
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Fellow Subsidiaries
: |
· Aditya Birla Finance Limited (ABFL) (100% Subsidiary of ABFSPL) CIN No.: LU65990GJ1991PLC064603 · Minacs Limited CIN No.: U99999KA1995PLC052040 · ABNL Investment Limited (ABNLInv) (100% Subsidiary of ABNL) CIN No.: U65910GJ1994PLC022685 · Aditya Birla Housing Finance Limited (ABHFL) (100.00% Subsidiary of ABFSPL) (earlier known as LIL Investment Limited) CIN No.: U65922MH2009PLC194378 · Birla Sun Life Insurance Company Limited (BSLICL) (74% Subsidiary) · Aditya Birla Minacs Worldwide Limited (ABMWL) (99.85% Subsidiary of ABNLIT and ITES) CIN No.: U99999KA1995PLC052040 · Aditya Birla Customer Services Private Limited (ABCSPL) (100% Subsidiary of ABFSPL) CIN No.: U93000MH2008PTC186669 · Pantaloons Fashion and Retail Limited (Formerly Peter England Fashions and Retail Limited) (PFRL) CIN No.: L18101MH2007PLC233901 |
CAPITAL STRUCTURE
As on 25.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
10,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98,888,890 |
Equity Shares |
Rs.10/- each |
Rs. 988.889 Millions |
|
10,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1088.889
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
1088.889 |
1088.889 |
200.000 |
|
(b) Reserves & Surplus |
134.307 |
487.116 |
(1596.804) |
|
(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) |
1223.196 |
1576.005 |
(1396.804) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
200.000 |
3200.000 |
4704.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
16.246 |
168.281 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
216.246 |
3368.281 |
4704.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
171.524 |
2.168 |
4.419 |
|
(b) Trade
payables |
398.404 |
534.855 |
246.457 |
|
(c) Other
current liabilities |
3581.726 |
65.296 |
41.305 |
|
(d) Short-term
provisions |
7.961 |
9.045 |
4.607 |
|
Total Current
Liabilities (4) |
4159.615 |
611.364 |
296.788 |
|
|
|
|
|
|
TOTAL |
5599.057 |
5555.650 |
3603.984 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
169.457 |
149.802 |
171.367 |
|
(ii)
Intangible Assets |
0.000 |
1.597 |
4.424 |
|
(iii)
Capital work-in-progress |
5.401 |
97.852 |
22.334 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4250.000 |
4250.000 |
3003.177 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
88.555 |
91.981 |
81.031 |
|
(e) Other
Non-current assets |
4.029 |
4.017 |
3.932 |
|
Total Non-Current
Assets |
4517.442 |
4595.249 |
3286.265 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
879.457 |
785.256 |
205.726 |
|
(c) Trade
receivables |
1.015 |
6.915 |
21.773 |
|
(d) Cash
and cash equivalents |
38.052 |
44.501 |
12.857 |
|
(e)
Short-term loans and advances |
147.688 |
120.036 |
76.403 |
|
(f) Other
current assets |
15.403 |
3.693 |
0.960 |
|
Total
Current Assets |
1081.615 |
960.401 |
317.719 |
|
|
|
|
|
|
TOTAL |
5599.057 |
5555.650 |
3603.984 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2966.781 |
2537.269 |
600.004 |
|
|
|
Other Income |
8.386 |
46.243 |
12.770 |
|
|
|
TOTAL (A) |
2975.167 |
2583.512 |
612.774 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1988.851 |
2181.455 |
463.802 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(94.202) |
(579.530) |
(68.785) |
|
|
|
Employees benefits expense |
128.712 |
108.363 |
74.704 |
|
|
|
Other expenses |
899.686 |
657.107 |
272.183 |
|
|
|
TOTAL (B) |
2923.047 |
2367.395 |
741.904 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
52.120 |
216.117 |
(129.130) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.070 |
5.438 |
39.984 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.050 |
210.679 |
(169.114) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
81.748 |
76.146 |
88.516 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(40.698) |
134.533 |
(257.630) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(40.698) |
134.533 |
(257.630) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1596.804) |
(1596.804) |
(1339.174) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.000 |
134.533 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1637.502) |
(1596.804) |
(1596.804) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.51) |
2.24 |
(26.70) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(1.37) |
5.30 |
(42.94) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.76 |
8.52 |
(21.52) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.03) |
11.14 |
(44.54) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03) |
0.09 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.30 |
2.03 |
(3.37) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.26 |
1.57 |
1.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
200.000 |
1088.889 |
1088.889 |
|
Reserves & Surplus |
(1596.804) |
487.116 |
134.307 |
|
Net
worth |
(1396.804) |
1576.005 |
1223.196 |
|
|
|
|
|
|
long-term borrowings |
4704.000 |
3200.000 |
200.000 |
|
Short term borrowings |
4.419 |
2.168 |
171.524 |
|
Total
borrowings |
4708.419 |
3202.168 |
371.524 |
|
Debt/Equity
ratio |
(3.371) |
2.032 |
0.304 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
600.004 |
2537.269 |
2966.781 |
|
|
|
322.875 |
16.928 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
600.004 |
2537.269 |
2966.781 |
|
Profit |
(257.630) |
134.533 |
(40.698) |
|
|
(42.94%) |
5.30% |
(1.37%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
3000.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Non-convertible debentures others |
200.000 |
200.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits |
101.000 |
0.000 |
|
Total |
301.000 |
200.000 |
|
NOTE LONG TERM
BORROWINGS 200 Zero Coupon fully and compulsorily Convertible Debentures of Rs 1,000,000/- each at par issued to ABNL Investment Limited The Company has issued 200 zero coupon, fully and compulsorily convertible Debentures of Rs 1,000,000/- each at par to ABNL Investment Limited on February 5th, 2010. The Debentures are convertible into Equity Shares on expiry of 60 months from the date of allotment i.e. (Compulsorily Conversion Date), or at the option of Investor, at any time after expiry of 24 months from the date of allotment but before 54 months with 3 months advance notice. The Conversion Ratio shall be determined mutually by the Company and Debenture holder at least 30 days prior to the Compulsorily Conversion Date or the Conversion Date as the case may be. The equity shares issued as above shall rank pari passu in all respects including with respect to dividend with the then existing fully paid up equity shares of the Company subject to the provisions of the Memorandum and Articles of Association of the Company.- As at 31st March 2014 (Rs.)- 200.000 Millions |
||
CHANGE OF ADDRESS
The Registered office of the company has been shifted from Regent Gateway, Plot No. 5B, Doddanekundi Village, KIADB Industrial Area, ITPL Road, Bangalore – 560048, Karnataka, India to the present address w.e.f. 20.10.2009.
CORPORATE INFORMATION
Subject is a subsidiary of Aditya Birla Nuvo Limited was incorporated in May 1, 2007 and is committed to developing a branded apparel and retail company, designs, manufactures, distributes, and retails apparel for men, women, youth, and children.The company sells its products through exclusive and franchise stores, shop-in-shops, multi-brand trade outlets, hypermarkets, and department stores.
REVIEW OF PERFORMANCE
The Company expanded its network of stores and operated Eight stores of The Collective in the financial year ended 31st March, 2014. The Company also operated three Hackett Mono Brands during the financial year.
The Collective stores continue to set benchmarks in retail experience, product offering and visual merchandising.
PROSPECTS
With the expansion of retail stores network and launch of international mono brand stores of the Company, this will strengthen its portfolio in premium and super premium market.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
a) Claims against the Company not acknowledged as debts |
-- |
-- |
|
b) Bill discounting and Bank guarantees |
-- |
-- |
|
c) Arrears of Preference Dividend |
40.110 |
32.110 |
|
d) Dividend Distribution tax thereon |
6.817 |
5.457 |
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
Intangible Assets
· Know-how
PRESS RELEASE
BIRLA SHORTLISTS PE COMPANIES FOR RETAIL COMPANY STAKE
Sep 4, 14
Aditya Birla Management Corporation Pvt. Ltd. has short-listed L Capital Management SAS, General Atlantic LLC, GIC Pte. Limited and Standard Chartered Private Equity Limited to raise $400 million for its consolidated retailing business unit, two people directly familiar with the matter said. Birla will raise $200 million each from two investors in the coming weeks, which values the new retail company at $2.2 billion in enterprise valuation, they added. It was reported in July 2014 that Birla had mandated Standard Chartered Bank to sell stake in the unit that's being created through a merger of Madura Fashion & Lifestyle, Pantaloons and More supermarkets. The four investors are completing due diligence process before Birla decides on the eventual picks. The chosen investors and their investment plan will be built into the scheme of merger being prepared for the three group companies. As part of the plan, Madura will be subsidiarized with public shareholding. Pantaloons and More will be merged with the demerged Madura subsequently. Several foreign investors had looked at the stake-buy opportunity but the aforesaid four names remain in the process. A source said one more sovereign wealth fund might still be in the fray. This could not be confirmed independently.
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.61.87 |
|
|
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.