MIRA INFORM REPORT

Report No. :	326660
Report Date :	10.06.2015

IDENTIFICATION DETAILS

Name :	RHEA RETAIL PRIVATE LIMITED (w.e.f. 29.12.2007)
Formerly Known As :	RHEA INFRATECH PRIVATE LIMITED
Registered Office :	1E, Jhandewalan Extension, Naaz Cinema Complex, New Delhi - 110055
Tel. No.:	91-124-4855800
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.04.2007
Com. Reg. No.:	161760
Capital Investment / Paid-up Capital :	Rs. 777.332 Million
CIN No.: [Company Identification No.]	U45209DL2007PTC161760
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Readymade Garment.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1600000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	It is engaged in the business of wholesale distribution of women’s children and infant’s clothing and accessories. It is an established company having a moderate track. The company has incurred huge accumulated loss for the year 2014. However, the total income of the company has incurred to Rs. 1208.257 Million from Rs. 942.772 Million in the previous year and incurred a profit of Rs. 48.800 Million as compared to loss of Rs. 79.449 Million in the previous year. As per Director’s report, the company has 46 retail stores under the brand name MOTHERCARE as compared to 30 in the previous year. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Vinay
Designation :	Key Executive
Contact No.:	91-124-4855800
Date :	09.06.2015

LOCATIONS

Registered Office :	1E, Jhandewalan Extension, Naaz Cinema Complex, New Delhi – 110055, India
Tel. No.:	91-124-4855800
Fax No.:	Not Available
E-Mail :	corporateaffairs@dlfbrand.in
Location :	Owned
Locality :	Commercial
Showroom :	No 49850 shop No. 5/10 Express Avenue Mall, Basement, Whites Road, Royapettahi, Chennai – 600014, Tamilnadu, India
Corporate Office :	15^th Building No. 5, tower-A, DLF Cyber Terraces, DLF Phase III, N.H. 8, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-4855800
Fax No.:	91-124-4855900

DIRECTORS

As on 24.09.2014

Name :

Pia Singh

Designation :

Director

Address :

14 Aurangzeb Road, New Delhi – 110011, India

Date of Birth/Age :

26.12.1970

Date of Appointment :

18.03.2010

DIN No. :

00067233

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	U74899DL1988PTC030945	UTTAM BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	10/12/1992	10/12/1992	17/12/2010	Active	NO
2	U45201DL1988ULT031096	TRINITY HOUSING AND CONSTRUCTION COMPANY ( PVT. CO. WITH ULT LIAB)	Director	10/12/1992	10/12/1992	17/12/2010	Active	NO
3	U74899DL1988PTC030943	HITECH PROPERTY DEVELOPERS PRIVATE LIMITED	Director	10/12/1992	10/12/1992	17/12/2010	Active	NO
4	U74899DL1988PTC030946	SOLACE HOUSING AND CONSTRUCTION PRIVATE LIMITED	Director	10/12/1992	10/12/1992	-	Active	NO
5	U74899DL1955PTC002592	NORTHERN INDIA THEATRES PRIVATE LIMITED	Director	10/12/1992	10/12/1992	-	Active	NO
6	U74899DL1988PTC030947	SUKH SANSAR HOUSING PRIVATE LIMITED	Director	10/12/1992	10/12/1992	-	Active	NO
7	U00000DL1988PTC030949	PUSHPAK BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	10/12/1992	10/12/1992	-	Active	NO
8	U45201DL1988ULT031091	ARIHANT HOUSING COMPANY (A PRIVATE COMPANY WITH UNLIMITED LIABILITY)	Director	10/12/1992	10/12/1992	-	Active	NO
9	U74120DL1967PTC004795	Prem Traders Private Limited	Director	10/12/1992	10/12/1992	-	Converted to LLP	NO
10	U74900DL1973PTC006832	Jhandewalan Ancillaries Private Limited	Director	10/12/1992	10/12/1992	-	Converted to LLP and dissolved	NO
11	U70101DL1988ULT031093	UTTAM REAL ESTATES COMPANY (PVT. CO. WITH UNLIMITED LIABILITY)	Director	10/12/1992	10/12/1992	17/12/2010	Active	NO
12	U74999DL1973PTC006968	RAISINA AGENCIES PRIVATE LIMITED	Director	24/06/1994	24/06/1994	04/02/2008	Converted to LLP	NO
13	U74899DL1971PTC005568	DLF INVESTMENTS PRIVATE LIMITED	Director	24/06/1994	24/06/1994	17/12/2010	Active	NO
14	U74899DL1988PTC030951	ANUBHAV APARTMENTS PRIVATE LIMITED	Director	19/01/1996	19/01/1996	14/02/2008	Active	NO
15	L70101HR1963PLC002484	DLF Limited	Director	20/05/2015	18/02/2003	-	Active	NO
16	U65993HR1980PLC034800	DLF UNIVERSAL LIMITED.	Director	13/08/2007	13/08/2004	26/07/2010	Active	NO
17	U45201DL2006PLC147368	DLF BRANDS LIMITED	Director	29/09/2009	06/03/2009	-	Active	NO
18	U45209DL2007PTC161760	RHEA RETAIL PRIVATE LIMITED	Director	18/03/2010	18/03/2010	17/03/2015	Active	NO
19	U45400DL2007PTC161528	JUNO RETAIL PRIVATE LIMITED	Director	31/08/2010	31/08/2010	17/03/2015	Active	NO
20	U74899DL1988PTC030950	SUDARSHAN ESTATES PRIVATE LIMITED	Director	28/09/2011	11/02/2011	-	Converted to LLP and dissolved	NO
21	U74899DL1988ULT031095	SAMBHAV HOUSING AND DEVELOPMENT COMPANY (PVT.CO.WITH ULT LIAB)	Director	23/09/2011	14/03/2011	-	Active	NO
22	U45201DL1988ULT031999	MADHUKAR HOUSING AND DEVELOPMENT COMPANY (A PRIVATE COMPANY WITH UNLIMITED LIABILITY)	Director	23/09/2011	14/03/2011	-	Active	NO
23	U45201DL1988ULT031094	UDYAN HOUSING AND DEVELOPMENT COMPANY (PVT.CO.WITH ULT LIAB)	Director	23/09/2011	14/03/2011	-	Active	NO
24	U45201DL2006PTC147357	Herminda Builders & Developers Private Limited	Director	23/09/2011	14/03/2011	-	Active	NO
25	U74899DL1988PTC030944	EXCEL HOUSING CONSTRUCTION PVT LTD	Director	23/09/2011	14/03/2011	30/03/2012	Converted to LLP	NO
26	U80900DL2011PTC227374	Skills Academy Private Limited	Director	14/11/2011	14/11/2011	-	Active	NO
27	U22190HR2012PTC046708	YOGANANDA FILMS PRIVATE LIMITED	Director	17/09/2012	17/09/2012	-	Active	NO
28	U45209DL2007PTC161789	Ishtar Retail Private Limited	Director	02/09/2013	23/01/2013	-	Active	NO
29	U74920DL1999PTC175236	SUPER MART TWO PROPERTY MANAGEMENT SERVICES PRIVATE LIMITED	Director	25/06/2013	14/05/2013	-	Converted to LLP and dissolved	NO
30	U80903DL2013NPL261186	SKILLS FOR INDIA	Director	27/11/2013	27/11/2013	-	Active	NO
31	U85100DL2009PTC191587	A4e INDIA PRIVATE LIMITED	Director	26/09/2014	14/08/2014	-	Active	NO
32	AAB-4590	PREM TRADERS LLP	Designated Partner	12/04/2013	12/04/2013	-	Active	NO
33	AAB-5427	JHANDEWALAN ANCILLARIES LLP	Designated Partner	24/05/2013	24/05/2013	-	Active	NO
34	AAB-6988	SUPER MART TWO PROPERTY MANAGEMENT SERVICES LLP	Designated Partner	08/08/2013	08/08/2013	-	Active	NO
35	AAC-3102	SUDARSHAN ESTATES LLP	Body corporate as Designated Partner	20/05/2014	20/05/2014	-	Active	NO

Name :

Mr. Dhiraj Sarna

Designation :

Director

Address :

16 Aurangzeb Road, New Delhi – 110011, India

Date of Birth/Age :

07.08.1966

Date of Appointment :

18.03.2010

DIN No. :

01039973

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	U74899DL1985PTC021134	TRINITY ELASTOMERS PRIVATE LIMITED	Director	05/06/1985	05/06/1985	-	Strike off	NO
2	U74899DL1994PLC059794	SARNA EXPORTS LIMITED	Director	23/06/1994	23/06/1994	-	Active	NO
3	U45203DL1996PTC082767	CORONATION PROJECTS PRIVATE LIMITED	Director	18/10/1996	18/10/1996	02/09/2005	Strike off	NO
4	U17296DL1997PTC087857	S & S TOWELS INDIA PRIVATE LIMITED	Director	11/06/1997	11/06/1997	-	Strike off	NO
5	U70109DL1996PTC075924	ELEPHANTA ESTATES PRIVATE LIMITED	Director	14/08/2001	14/08/2001	-	Active	NO
6	U45201DL2006PTC147579	FERRAGAMO RETAIL INDIA PRIVATE LIMITED	Additional director	11/09/2008	11/09/2008	-	Active	NO
7	U27310DL2008PTC179369	Giorgio Armani India Private Limited	Director	08/09/2009	08/10/2008	-	Under liquidation	NO
8	U70102DL2007PTC161521	KAPO RETAIL PRIVATE LIMITED	Director	29/09/2010	18/03/2010	-	Active	NO
9	U45209DL2007PTC161760	RHEA RETAIL PRIVATE LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
10	U45209DL2007PTC161789	Ishtar Retail Private Limited	Director	25/08/2010	26/04/2010	14/02/2013	Active	NO
11	U45400DL2007PTC161528	JUNO RETAIL PRIVATE LIMITED	Director	31/08/2010	31/08/2010	-	Active	NO
12	U74900DL1973PTC006832	Jhandewalan Ancillaries Private Limited	Director	28/09/2011	14/01/2011	-	Converted to LLP and dissolved	NO
13	U45201DL1988ULT031091	ARIHANT HOUSING COMPANY (A PRIVATE COMPANY WITH UNLIMITED LIABILITY)	Director	22/09/2011	17/01/2011	-	Active	NO
14	U74899DL1988PTC030947	SUKH SANSAR HOUSING PRIVATE LIMITED	Director	23/09/2011	17/01/2011	-	Active	NO
15	U74899DL1988PTC030946	SOLACE HOUSING AND CONSTRUCTION PRIVATE LIMITED	Director	22/09/2011	17/01/2011	-	Active	NO
16	U00000DL1988PTC030949	PUSHPAK BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	22/09/2011	17/01/2011	-	Active	NO
17	U74899DL1988PTC030950	SUDARSHAN ESTATES PRIVATE LIMITED	Director	28/09/2011	11/02/2011	-	Converted to LLP and dissolved	NO
18	U45201DL2006PLC147368	DLF BRANDS LIMITED	Managing director	30/09/2011	30/09/2011	-	Active	NO
19	U74900HR2011PTC042833	MONARK INDIA Private Limited	Director	06/11/2012	21/03/2012	-	Active	NO
20	U74899DL1955PTC002592	NORTHERN INDIA THEATRES PRIVATE LIMITED	Director	21/09/2012	26/06/2012	-	Active	NO
21	U45400DL2007PTC161746	Diana Retail Private Limited	Director	28/09/2013	10/12/2012	-	Active	NO
22	U52399DL2013PTC254338	DAS RETAIL PRIVATE LIMITED	Director	26/06/2013	26/06/2013	17/03/2015	Active	NO
23	U45201DL2006PTC147354	Cian Retail Private Limited	Director	23/09/2014	29/09/2013	-	Active	NO
24	U74140HR2014PTC053942	DBL Kidskart Online Private Limited	Director	09/12/2014	09/12/2014	-	Active	NO
25	U74900HR2015PTC054637	DBL Cosmetics Private Limited	Director	19/02/2015	19/02/2015	-	Active	NO
26	AAB-5427	JHANDEWALAN ANCILLARIES LLP	Body corporate as Designated Partner	24/05/2013	24/05/2013	-	Active	NO
27	AAB-6988	SUPER MART TWO PROPERTY MANAGEMENT SERVICES LLP	Body corporate as Designated Partner	08/08/2013	08/08/2013	-	Active	NO

Name :

Mr. Sandeep Chadha

Designation :

Whole-time Director

Address :

BF-5D, Munirka DDA Flats, New Delhi – 110067, India

Date of Birth/Age :

19.03.1970

Date of Appointment :

24.09.2014

DIN No. :

06915300

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	U45400DL2007PTC161528	JUNO RETAIL PRIVATE LIMITED	Director	24/09/2014	24/09/2014	-	Active	NO
2	U45209DL2007PTC161760	RHEA RETAIL PRIVATE LIMITED	Whole-time director	24/09/2014	24/09/2014	-	Active	NO
3	U74140HR2014PTC053942	DBL Kidskart Online Private Limited	Director	09/12/2014	09/12/2014	-	Active	NO

Name :

Mr. Dipak Kumar Agarwal

Designation :

Additional Director

Address :

C-72, Belvedere Park, RBS, DLF-Phase -3, Gurgaon, Nathupur (67), Gurgaon – 122002, Haryana, India

Date of Appointment :

24.03.2015

DIN No. :

00740004

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	U74900DL2006PTC156092	Exotic R-Online Fashion Private Limited	Director	01/12/2006	01/12/2006	-	Active	NO
2	U45201DL2006PTC147579	FERRAGAMO RETAIL INDIA PRIVATE LIMITED	Additional director	12/06/2009	11/09/2008	20/07/2010	Active	NO
3	U27310DL2008PTC179369	Giorgio Armani India Private Limited	Director	08/09/2009	12/04/2009	-	Under liquidation	NO
4	U45209DL2007PTC161760	RHEA RETAIL PRIVATE LIMITED	Additional director	24/03/2015	18/03/2010	-	Active	NO
5	U70102DL2007PTC161521	KAPO RETAIL PRIVATE LIMITED	Director	29/09/2010	18/03/2010	10/07/2014	Active	NO
6	U45400DL2007PTC161528	JUNO RETAIL PRIVATE LIMITED	Additional director	24/03/2015	31/08/2010	-	Active	NO
7	U45400DL2007PTC162328	ROD RETAIL PRIVATE LIMITED	Director	29/09/2011	10/05/2011	01/07/2014	Active	NO
8	U45400DL2007PTC161746	Diana Retail Private Limited	Additional director	10/12/2012	10/12/2012	06/02/2013	Active	NO
9	U45201DL2006PTC147354	Cian Retail Private Limited	Additional director	29/09/2013	29/09/2013	23/09/2014	Active	NO
10	U74140HR2014PTC053942	DBL Kidskart Online Private Limited	Director	09/12/2014	09/12/2014	-	Active	NO
11	U74900HR2015PTC054637	DBL Cosmetics Private Limited	Director	19/02/2015	19/02/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vinay
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2014

Names of Shareholders	No. of Shares
DLF Brands Limited, India	54413235
Dipak Agarwal Jointly With DLF Brands Limited	1
Rashmi Sharma	1
Sumant kumar Bhargava	1
Mukesh Bindal	1
Saurabh Gupta	1
Ashish Rastogi	1
Mothercare UK Limited, united Kingdom	23319960
Total	77733201

As on 24.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	30.00
Bodies corporate	70.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of Readymade Garment.
Products :	Readymade Garment
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

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 :

50 (Approximately)

Bankers :

Banker Name	Yes Bank Limited
Branch Address	9^th Floor, Nehru Centre, discovery of India, Dr. Annie Besant Road, Worli Mumbai - 400018, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	Walker, Chandiok and Company LLP Chartered Accountants
Address :	21st Floor, DLF Square, Jaqaranda Marg, DLF Phase II, Gurgaon-122002, Haryana, India
PAN No.:	AAAFW4298E
Memberships :	Not Available
Collaborators :	Not Available
Holding company:	DLF Brands Limited
Fellow subsidiary companies at any time during the year (with whom there were transactions):	Eros Retail Private Limited Carreen Builders and Developers Private Limited Juno Retail Private Limited
Investing enterprise and entities under common control: ·	Mothercare UK Limited (Investing enterprise) Mothercare Sourcing India (Entity under control of investing enterprise) Mothercare -Yantian China (Entity under control of investing enterprise)
Other enterprise directly/indirectly under the common control of the key managerial personal and their relatives (with whom there were transaction):	Zigma Retail Private Limited

CAPITAL STRUCTURE

As on 24.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
85000000	Equity Shares	Rs. 10/- each	Rs. 850.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
77733201	Equity Shares	Rs. 10/- each	Rs.777.332 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	777.332	707.332	557.332
(b) Reserves & Surplus	(189.834)	(238.634)	(159.184)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	70.000	70.000
Total Shareholders’ Funds (1) + (2)	587.498	538.698	468.148
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	1.859	1.980
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.504	4.766	3.269
Total Non-current Liabilities (3)	6.504	6.625	5.249
(4) Current Liabilities
(a) Short term borrowings	0.595	0.000	0.000
(b) Trade payables	327.344	126.194	160.250
(c) Other current liabilities	39.949	17.016	25.267
(d) Short-term provisions	0.251	0.266	0.087
Total Current Liabilities (4)	368.139	143.476	185.604
TOTAL	962.141	688.799	659.001
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	159.725	98.786	104.782
(ii) Intangible Assets	23.163	25.370	27.578
(iii) Capital work-in-progress	4.758	4.614	3.749
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	3.715	0.000	0.000
(d) Long-term Loan and Advances	151.908	156.035	78.434
(e) Other Non-current assets	0.600	0.400	0.400
Total Non-Current Assets	343.869	285.205	214.943
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	538.819	307.459	413.466
(c) Trade receivables	18.153	45.259	5.103
(d) Cash and cash equivalents	11.371	10.693	4.145
(e) Short-term loans and advances	48.713	39.513	20.924
(f) Other current assets	1.216	0.670	0.420
Total Current Assets	618.272	403.594	444.058
TOTAL	962.141	688.799	659.001

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	1208.260	942.770	666.820
Less	TOTAL EXPENSES	1165.030	1022.340	708.030
	PROFIT/ (LOSS) BEFORE TAX	43.230	(79.570)	(41.210)
Less	TAX	(5.570)	(0.120)	0.000
	PROFIT/ (LOSS) AFTER TAX	48.800	(79.450)	(41.210)
	IMPORTS
	Trading goods	432.587	231.199	NA
	TOTAL IMPORTS	432.587	231.199	NA
	Earnings / (Loss) Per Share (Rs.)	0.63	(1.02)	(0.53)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	4.04	(8.43)	(6.18)
Return on Total Assets (PBT/Total Assets}	(%)	4.53	(11.63)	(6.29)
Return on Investment (ROI) (PBT/Networth)		0.07	(0.15)	(0.09)
Debt Equity Ratio (Total Liability/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.68	2.81	2.39

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	557.332	707.332	777.332
Reserves & Surplus	(159.184)	(238.634)	(189.834)
Share Application money pending allotment	70.000	70.000	0.000
Net worth	468.148	538.698	587.498
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.595
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.595
Debt/Equity ratio	0.000	0.000	0.001

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	666.820	942.770	1208.260
		41.383	28.161

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	666.820	942.770	1208.260
Profit	(41.210)	(79.450)	48.800
	(6.18%)	(8.43%)	4.04%

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	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
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	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OPERATION

The Company business has grown in the last year in size and scale and has taken steps to concentrate on its growth plan. The Company has 46 (Forty Six) retail stores under the brand name Mothercare as compared to 30 in the previous year.

During the year, the total income of the Company has increased to Rs. 1208.257 Million from Rs. 942.772 Million in the previous year and incurred a profit of 48.800 Million as compared to loss of Rs. 79.449 Million in the previous year. After optimization of volumes and margins, the Company has the potential to become a more profitable business in the years to come.

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Loans and advances	0.595	0.000
Total

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10227227	10/03/2012 *	600,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra -  400018, INDIA	B35118363

* Date of charge modification

FIXED ASSETS

• Furniture and fixtures
• Office equipment
• Computer equipments
• Other equipments
• Leasehold improvements

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. 63.94
UK Pound	1	Rs. 98.27
Euro	1	Rs. 72.37

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	RAS
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	4
--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		31

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.