MIRA INFORM REPORT

Report No. :	308100
Report Date :	21.02.2015

IDENTIFICATION DETAILS

Name :	TRENT HYPERMARKET LIMITED
Registered Office :	Taj Building, 2^nd Floor, 210, D. N. Road, Fort, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2014 (Profits and Loss)
Date of Incorporation :	01.07.2008
Com. Reg. No.:	11-184184
Capital Investment / Paid-up Capital :	Rs. 2227.100 Millions
CIN No.: [Company Identification No.]	U51900MH2008PLC184184
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMT14830E
PAN No.: [Permanent Account No.]	AACCT9803D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The main business of the company is retailing.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

A (61)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 3000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of Trent Limited. It is a Tata Group Company. It’s an established company having good track. As per profit and loss statement of 2014, company has incurred operational loss. However, company gets strong financial support from its parent companies. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitments. In the view of strong holding company, subject can be considered normal for business dealings at usual trade terms and conditions. Note: Balance Sheet of Financial Year 2014 could not be available from any source.

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 Rating = AA
Rating Explanation	High degree of safety and very low credit risk.
Date	October 17, 2014

Rating Agency Name	CARE
Rating	Short Term Rating = A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	October 17, 2014

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 PARTED BY

Management non-cooperative (Tel No.: 91-22-67008000)

LOCATIONS

Registered Office :	Taj Building, 2^nd Floor, 210, D. N. Road, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-67194500
Fax No.:	91-22-22070216
E-Mail :	sanjay.gupta@trenthyper-tata.com

DIRECTORS

AS ON 28.07.2014

Name :

Mr. Noel Tata

Designation :

Chairman

Address :

Windmere, 55, Cufe Parade, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

12.11.1956

Date of Appointment :

30.09.2010

PAN No.:

00024713

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U63040MH1993PTC070465	DKI TRAVEL SERVICES PVT LTD	Director	01/06/1994	01/06/1994	18/04/2011	Active	NO
2	L24240MH1952PLC008951	TRENT LIMITED	Director	05/08/2011	18/12/1997	-	Active	NO
3	L29308MH1954PLC009371	VOLTAS LIMITED	Director	27/01/2003	27/01/2003	-	Active	NO
4	L74999TZ1984PLC001456	TITAN COMPANY LIMITED	Nominee director	07/08/2003	07/08/2003	-	Active	NO
5	U70101MH2004PTC145888	LORIMAR PROPERTIES PRIVATE LIMITED	Director	23/04/2004	23/04/2004	29/10/2012	Active	NO
6	L67200MH1937PLC002622	TATA INVESTMENT CORPORATION LIMITED	Director	09/06/2004	09/06/2004	-	Active	NO
7	U70102MH1994PTC076582	SATNAM DEVELOPERS AND FINANCE PRIVATE LTD	Nominee director	21/08/2004	21/08/2004	-	Amalgamated	NO
8	U91990MH2005GAP151959	RETAILERS ASSOCIATION OF INDIA	Director	14/03/2005	14/03/2005	-	Active	NO
9	U74899DL1995PLC073520	TRENT BRANDS LIMITED	Nominee director	27/04/2005	27/04/2005	10/05/2010	Active	NO
10	U70109MH2006PLC160918	LANDMARK LIMITED (PART IX)	Nominee director	31/03/2006	31/03/2006	-	Amalgamated	NO
11	U67190MH2005PLC153819	MILESTONE CAPITAL ADVISORS LIMITED	Director	10/05/2007	10/05/2007	09/09/2010	Active	NO
12	U74140MH2007PTC172569	IL&FS MILESTONE REALTY ADVISORS PRIVATE LIMITED	Director	26/09/2008	14/08/2007	09/09/2010	Active	NO
13	U67100MH2007PTC169947	TREXA ADMC PRIVATE LIMITED	Director	11/10/2008	21/09/2007	29/05/2012	Amalgamated	NO
14	U65991MH2007PTC169267	VIRTUOUS TRUSTEES PRIVATE LIMITED	Director	29/09/2008	21/09/2007	22/12/2009	Active	NO
15	L24202MH1920PLC000825	KANSAI NEROLAC PAINTS LIMITED	Director	24/06/2008	27/10/2007	-	Active	NO
16	U51900MH2008PLC184184	Trent Hypermarket Limited	Director	30/09/2010	12/08/2008	-	Active	NO
17	U74900HR2009FTC043768	Inditex Trent Retail India Private Limited	Director	27/10/2009	27/10/2009	-	Active	NO
18	U92411MH1933PLC002813	THE CRICKET CLUB OF INDIA LIMITED	Nominee director	09/04/2010	09/04/2010	-	Active	NO
19	U51900MH1962PLC012528	TATA INTERNATIONAL LIMITED	Managing director	26/08/2010	05/05/2010	-	Active	NO
20	U72900MH2000PLC126195	Drive India Enterprise Solutions Limited	Director	08/08/2011	01/11/2010	-	Active	NO
21	U18209TN1997PLC037515	BACHI SHOES LIMITED	Director	05/08/2011	24/12/2010	-	Active	NO
22	U52100HR2013FTC051280	MASSIMO DUTTI INDIA PRIVATE LIMITED	Director	12/12/2013	12/12/2013	-	Active	NO

Name :

Mr. Venkatesalu Palaniswamy

Designation :

Director

Address :

Tata Colony, Falcon Crest Flat# 102, G.D. Ambekar Marg, Parel, Mumbai – 400017, Maharashtra, India

Date of Birth/Age :

03.07.2008

Date of Appointment :

01.07.2008

DIN No.:

02190892

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U70109MH2006PLC160918	LANDMARK LIMITED (PART IX)	Director	16/09/2009	25/06/2008	-	Amalgamated	NO
2	U51900MH2008PLC184184	Trent Hypermarket Limited	Director	01/07/2008	01/07/2008	-	Active	NO
3	U74990PN1989PLC020632	FIORA SERVICES LIMITED	Director	30/09/2008	13/08/2008	-	Active	NO
4	U70100MH2005PLC155569	FIORA LINK ROAD PROPERTIES LIMITED	Director	16/09/2009	22/09/2008	-	Amalgamated	NO
5	U74899DL1995PLC073520	TRENT BRANDS LIMITED	Director	15/09/2009	23/09/2008	-	Active	NO
6	U74899DL1971PLC005728	NAHAR RETAIL TRADING SERVICES LIMITED	Director	16/09/2009	23/09/2008	-	Active	NO
7	U70102MH1994PTC076582	SATNAM DEVELOPERS AND FINANCE PRIVATE LTD	Director	16/09/2009	24/09/2008	-	Amalgamated	NO
8	U67100MH2007PTC169947	TREXA ADMC PRIVATE LIMITED	Director	28/09/2009	14/11/2008	-	Amalgamated	NO
9	U74900HR2009FTC043768	Inditex Trent Retail India Private Limited	Director	27/10/2009	27/10/2009	-	Active	NO
10	U22190TN2007PLC064265	Westland Limited	Director	29/07/2011	23/03/2011	-	Active	NO
11	U74140MH1992PLC252981	TRENT RETAIL SERVICES LIMITED	Additional director	04/05/2011	04/05/2011	23/05/2011	Active	NO
12	U67120MH1983PLC031632	SIMTO INVESTMENT CO LTD	Director	30/07/2014	24/10/2013	-	Active	NO
13	U52100HR2013FTC051280	MASSIMO DUTTI INDIA PRIVATE LIMITED	Director	12/12/2013	12/12/2013	-	Active	NO
14	U74120MH2014PLC254507	Fiora Hypermarket Limited	Director	18/03/2014	18/03/2014	-	Active	NO

Name :

Mr. Aspy Cooper

Designation :

Indenpedent Director

Address :

Flat No. 502,Wing-A, 5^th Floor, Vivarea Tower, Sane Guruji Marg, Jacob Circle, Mahalakshmi, Mumbai – 400 011

Date of Birth/Age :

23.08.1940

Date of Appointment :

28.07.2014

PAN No.:

00026134

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L24240MH1952PLC008951	TRENT LIMITED	Director	14/08/2014	29/05/1984	-	Active	NO
2	U74300MH1969PTC014391	LINTAS INDIA PRIVATE LIMITED	Alternate director	27/09/2006	26/07/1984	02/07/2007	Active	NO
3	U74899DL1995PLC073520	TRENT BRANDS LIMITED	Director	12/08/2014	06/05/1996	-	Active	NO
4	U70109MH2006PLC160918	LANDMARK LIMITED (PART IX)	Director	31/03/2006	31/03/2006	-	Amalgamated	NO
5	U51900MH2008PLC184184	Trent Hypermarket Limited	Director	28/07/2014	17/10/2008	-	Active	NO
6	U65990MH1994PLC077090	TATA ASSET MANAGEMENT LIMITED	Director	04/08/2014	15/09/2009	-	Active	NO
7	U22190TN2007PLC064265	Westland Limited	Director	11/08/2014	29/11/2011	-	Active	NO
8	U74899DL1971PLC005728	NAHAR RETAIL TRADING SERVICES LIMITED	Director	12/08/2014	16/11/2013	-	Active	NO
9	U74990PN1989PLC020632	FIORA SERVICES LIMITED	Director	02/08/2014	17/02/2014	-	Active	NO
10	U70102MH2012PTC228114	Godrej Landmark Redevelopers Private Limited	Director	28/07/2014	28/07/2014	-	Active	NO
11	U70102MH2011PTC213784	GODREJ PREMIUM BUILDERS PRIVATE LIMITED	Director	28/07/2014	28/07/2014	-	Active	NO
12	U70102MH2013PTC240297	Godrej Redevelopers (Mumbai) Private Limited	Director	30/07/2014	30/07/2014	-	Active	NO

Name :

Mr. Matthew Peter Edmonds

Designation :

Director

Address :

162, Sukumvit 33 Alley Room R5AB, F5 Floor Raveevan Tan Nuee, Vandhana, Bangkok

Date of Birth/Age :

03.05.1972

Date of Appointment :

03.06.2014

DIN No.:

06878575

Name :

Trevor John Masters

Designation :

Director

Address :

Blomfield House, Gliston Park, Gilston, Hertfordhire, CM20 2RG United Kingdom

Date of Birth/Age :

10.03.1963

Date of Appointment :

03.06.2014

DIN No.:

06879194

Name :

Kevin Paul Grace

Designation :

Director

Address :

High Curragh, West End, Ampletorth North Yorkshire, England, UO62 4DX, North Yorkshire

Date of Birth/Age :

30.06.1965

Date of Appointment :

03.06.2014

DIN No.:

06879209

Name :

Jamhsed Soil Daboo

Designation :

Managing Director

Address :

Flat No. R-07, Cusrow Bang, Shahid Bhagat Singh Road, Colaba, Causeway, Mumbai – 01, Maharashtra, India

Date of Birth/Age :

10.09.1962

Date of Appointment :

28.07.2014

DIN No.:

00050865

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U60300MH1977PLC019952	TAJ TRADE AND TRANSPORT COMPANY LIMITED	Director	07/12/2000	07/12/2000	15/05/2009	Active	NO
2	U74899DL1950PLC001861	UNITED HOTELS LIMITED	Director	07/07/2006	25/05/2006	15/05/2009	Active	NO
3	U55101MH1968PLC013960	PIEM HOTELS LIMITED	Director	20/08/2006	12/06/2006	15/05/2009	Active	NO
4	U70102MH2010PLC202740	VIRTUOUS SHOPPING CENTRES LIMITED	Director	02/12/2010	02/12/2010	-	Active	NO
5	U45200MH2006PLC161913	COMMON WEALTH DEVELOPERS LIMITED	Director	04/07/2012	11/11/2011	-	Active	NO
6	U51900MH2008PLC184184	Trent Hypermarket Limited	Managing director	28/07/2014	25/06/2014	-	Active	NO
7	U51909KA2008PTC047086	Tesco Hindustan Wholesaling Private Limited	Nominee director	13/01/2015	13/01/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjay Gupta
Designation :	Company Secretary
Address :	2B-114, Windnere Oshiwara, Main Road, Off Link Road, Andheri (West), Mumbai – 400058, Maharashtra, India
Date of Birth/Age :	15.04.1969
Date of Appointment :	30.10.2012

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.07.2014

Names of Shareholders	No. of Shares
Trent Limited	22370790
Trent Limited Jt. with Flora Services Limited	1
Trent Limited Jt. With Flora Link Road Properties Limited	1
Trent Limited Jt. With Nahar Theatres Private Limited	1
Trent Limited Jt. With Mr. Venkatesalu Palaniswamy	1
Trent Limited Jt. With Mr. Sudhir W. Kamal	1
Trent Limited Jt. With Mrs. Hutoxshi R. Wadia	1
Trent Limited	40036779
Tesco Overseas Investments Limited	62407575
Total	124815150

AS ON 28.07.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The main business of the company is retailing.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	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 :

Information declined by the management.

Bankers :

Not Available

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Debentures	250.000	250.000
Total	250.000	250.000

Financial Institution :	IDBI Trusteeship Services Limited, Asain Building, Ground Floor, 17 R. Kamani Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India
Auditors :
Name :	N M Raju and Company Chartered Accountants
Address :	6^th Floor, Universal Insurance Building, Pherozeshah Mehta Road, Mumbai – 400001, Maharashtra, India
PAN No.:	AAAFN4217G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 28.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
125000000	Equity Shares	Rs. 10/- each	Rs. 1250.000 Millions
150000000	Preference Shares	Rs. 10/- each	Rs. 1500.000 Millions
	Total		Rs. 2750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
124815150	Equity Shares	Rs. 10/- each	Rs. 1248.152 Millions

AFTER 28.07.2014

Authorised Capital : Rs. 2750.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 1468.350 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
250050000	Equity Shares	Rs. 10/- each	Rs. 2500.500 Millions
	Total		Rs. 2500.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
222709717	Equity Shares	Rs. 10/- each	Rs. 2227.100 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2227.100	734.200
(b) Reserves & Surplus	(1053.900)	(121.800)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1173.200	612.400
(3) Non-Current Liabilities
(a) long-term borrowings	1107.500	1807.500
(b) Deferred tax liabilities (Net)	0.600	8.500
(c) Other long term liabilities	250.900	191.700
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	1359.000	2007.700
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	1170.000	789.300
(c) Other current liabilities	239.900	175.100
(d) Short-term provisions	10.100	7.600
Total Current Liabilities (4)	1420.000	972.000
TOTAL	3952.200	3592.100
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1626.800	1594.900
(ii) Intangible Assets	18.600	23.800
(iii) Capital work-in-progress	145.500	41.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	419.200	419.200
(c) Deferred tax assets (net)	142.000	101.500
(d) Long-term Loan and Advances	168.100	186.700
(e) Other Non-current assets	0.000	0.500
Total Non-Current Assets	2520.200	2367.600
(2) Current assets
(a) Current investments	17.500	0.000
(b) Inventories	596.300	783.200
(c) Trade receivables	67.100	26.300
(d) Cash and cash equivalents	147.700	87.800
(e) Short-term loans and advances	532.800	307.500
(f) Other current assets	70.600	19.700
Total Current Assets	1432.000	1224.500
TOTAL	3952.200	3592.100

Note: Balance Sheet of Financial Year 2014 could not be available from any source.

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	8150.200	7811.200	6477.500
		Other Income	57.400	40.700	17.600
		TOTAL (A)	8207.600	7851.900	6495.100
Less	EXPENSES
		Cost of Materials Consumed	180.200	181.300	190.500
		Purchases of Stock-in-Trade	6283.600	6151.100	5180.400
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	84.700	117.000	-156.500
		Employees benefits expense	570.200	513.500	405.400
		Other expenses	1513.100	1409.400	1284.900
		TOTAL (B)	8631.800	8372.300	6904.700
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(424.200)	(520.400)	(409.600)
Less	FINANCIAL EXPENSES (D)		79.700	101.000	269.900
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(503.900)	(621.400)	(679.500)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		133.700	119.600	109.000
Less	EXCEPTIONAL ITEMS BEFORE TAX		(60.300)	(20.000)	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(697.900)	(761.000)	(788.500)
Less	TAX (H)		(4.900)	(40.500)	(45.500)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(693.000)	(720.500)	(743.000)
	Earnings / (Loss) Per Share (Rs.)		(5.55)	(5.77)	(5.95)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	(8.50)	(9.22)	(11.47)
Operating Profit Margin (PBDIT/Sales)	(%)	(5.20)	(6.66)	(6.32)
Return on Total Assets (PBT/Total Assets}	(%)	NA	(23.45)	(26.02)
Return on Investment (ROI) (PBT/Networth)		NA	(0.65)	(1.29)
Debt Equity Ratio (Total Debt/Networth)		NA	0.94	2.95
Current Ratio (Current Asset/Current Liability)		NA	1.01	1.26

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	734.200	2227.100
Reserves & Surplus	(121.800)	(1053.900)
Net worth	612.400	1173.200
long-term borrowings	1807.500	1107.500
Short term borrowings	0.000	0.000
Total borrowings	1807.500	1107.500
Debt/Equity ratio	2.952	0.944

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	6477.500	7811.200	8150.200
		20.590	4.340

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	6477.500	7811.200	8150.200
Profit	(743.000)	(720.500)	(693.000)
	(11.47%)	(9.22%)	(8.50%)

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
16]	Details of sister concerns	No
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	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10362081	30/05/2012	250,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA	B42187856

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Debentures	857.500	1557.500
Total	857.500	1557.500

FIXED ASSETS

• Buildings
• Plant and Equipments
• Furniture and Fixture
• Vehicles
• Office Equipments
• Computer

PRESS RELEASE

TRENT SURGES 18% ON TESCO BUYING STAKE IN THL

Trent shares surged 18% during early trade Wednesday following news of UK-based Tesco buying 50% stake in Trent Hypermarkets through FDI route

Trent Ltd (Trent) surged 18% during early trade Wednesday on the news of Tesco PLC (Tesco), United Kingdom’s largest retailer, planning to buy 50% stake in the company’s unit. Trent Hypermarket Ltd (THL) is wholly owned subsidiary of Trent that operates retail business under the name of ‘Star Bazaar’.  

No financial details were provided, but quoting an official at Indian trade ministry,Reuters, said, “Tesco has made an application to India's Foreign Investment Promotion Board (FIPB) and plans to invest $110 million.

Share price of Trent has been moving higher, especially over the past two months, it is witnessed higher trends. Between 3rd November to 17th December, Trent increased 15.8% to Rs 0.001 Million.

“We believe that our understanding of the Indian Market coupled with Tesco’s unparalleled global retail expertise will allow us to leverage the tremendous potential of the market to the benefit of all the stakeholders,” said Noel Tata, vice chairman of Trent Limited, in a press release.

In a regulatory filing, Trent said Tesco is in the process of making an application to the FIPB with respect to the proposed investment. Tesco will enter into the partnership with 50% stake in THL, subject to FIPB approval.

“THL currently operates 16 stores across the southern and western regions of India. The proposed partnership will operate and build on the existing portfolio of Star Bazaar stores in Maharashtra and Karnataka. The application envisages a minimum FDI in line with the application multi brand retail trading policy,” said THL in a press release.

Trent closed Wednesday 10.7% higher at Rs1181 on the BSE, while the Sensex ended 1.2% up 20,859.

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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 62.25
UK Pound	1	Rs. 95.57
Euro	1	Rs. 71.01

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUM
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		61

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	--

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