MIRA INFORM REPORT
|
Report No. : |
327509 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
FABINDIA OVERSEAS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
14 N, Block Market, Greater Kailash, Part-1, New Delhi - 110048 |
|
Tel. No.: |
91-11-46693725 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.12.1976 |
|
|
|
|
Com. Reg. No.: |
55-008436 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 22.527
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1976PTC008436 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF0782H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Designing, Logistic
Support, Contract Manufacturing, Procurement and Sale by way of retailing of
crafts and fabrics, garments and accessories, home furnishings, furniture, organic
food, handicraft/imitation jewellery, leather items, body care products and
other similar products. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 10100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and established company incorporated during the year
1976 having a good track record. Available financial indicates company strong financial risk profile
marked by healthy networth position and decent profitability of the company. Directors of the company are reported to be well experienced and
knowledgeable businessmen. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered good for normal 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = AA- |
|
Rating Explanation |
High degree of safety and carry very low
credit risk. |
|
Date |
February 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
February 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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Ashish Grover |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-11-40692000 |
|
Date : |
15.06.2015 |
LOCATIONS
|
Registered Office : |
14 N, Block Market, Greater Kailash, Part-1, New Delhi – 110048,
India |
|
Tel. No.: |
91-11-46693725/ 26811047/ 29232183/ 4/ 5 |
|
Fax No.: |
91-11-26811053 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
C-40, Okhla Industrial Area, Phase 2, New Delhi – 110020, India |
|
Tel. No.: |
91-11-40577720 |
|
Fax No.: |
91-11-26811053 |
|
E-Mail : |
DIRECTORS
AS ON 10.09.2014
|
Name : |
Mr. William Nanda Bissell |
|
Designation : |
Managing director |
|
Address : |
N 19, Panchsheel Park, New Delhi, New Delhi - 110019, India |
|
Date of Birth/Age : |
10.06.1966 |
|
Qualification : |
B.A from Wesleyan University B.A. |
|
Experience : |
24 Years |
|
Date of Appointment : |
08.08.2000 |
|
PAN No.: |
AGAPB2796G |
|
DIN No.: |
00012819 |
|
|
|
|
Name : |
Mr. Sunil Chainani |
|
Designation : |
Director |
|
Address : |
106, 17C, 5th Block, Koramangala, Bangalore - 560095, Karnataka, India |
|
Date of Birth/Age : |
30.12.1957 |
|
Date of Appointment : |
17.03.2003 |
|
PAN No.: |
ABHPC9064G |
|
Voter ID No.: |
MBQ0413518 |
|
DIN No.: |
00064052 |
|
|
|
|
Name : |
Mr. Madhukar Khera |
|
Designation : |
Director |
|
Address : |
646, Model Town, Panipat – 132103, Haryana, India |
|
Date of Birth/Age : |
18.12.1946 |
|
Date of Appointment : |
14.12.1976 |
|
PAN No.: |
AATPK0013G |
|
DIN No.: |
01043399 |
|
|
|
|
Name : |
Vijai Kumar Kapoor |
|
Designation : |
Director |
|
Address : |
1-A, Tata Apartments, 23, Prithaviraj Road, New Delhi – 110001, India |
|
Date of Birth/Age : |
13.09.1938 |
|
Date of Appointment : |
31.01.2006 |
|
PAN No.: |
AAFPK3550L |
|
DIN No.: |
01084371 |
|
|
|
|
Name : |
Ms. Charu Sharma |
|
Designation : |
Whole-time director |
|
Address : |
D-44, Anand Niketan, New Delhi – 110021, India |
|
Date of Birth/Age : |
12.02.1959 |
|
Qualification : |
Diploma in Hotel Management |
|
Experience : |
35 Years |
|
Date of Appointment : |
15.11.2006 |
|
PAN No.: |
AMQPS9686J |
|
Voter ID No.: |
DL/02/010/027299 |
|
DIN No.: |
01150944 |
|
|
|
|
Name : |
William Sean Sovak |
|
Designation : |
Director |
|
Address : |
401, LA Paloma, St. Cyril Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1972 |
|
Date of Appointment : |
09.02.2006 |
|
PAN No.: |
CREPS9904E |
|
DIN No.: |
01161892 |
|
|
|
|
Name : |
Mr. Narayan Ramachandran |
|
Designation : |
Director |
|
Address : |
D-51, Sobha Ivory-II, 7/1, ST Johns Road, Ulsoor, Bangalore - 560042, Karnataka, India |
|
Date of Birth/Age : |
14.07.1962 |
|
Date of Appointment : |
20.01.2014 |
|
PAN No.: |
AJWPR4625B |
|
DIN No.: |
01873080 |
|
|
|
|
Name : |
Mr. Prakash Parthasarathy |
|
Designation : |
Director |
|
Address : |
404, Arcadia Bunglow, Bangalore Outer Circle, White Field, Bangalore – 560066, Karnataka, India |
|
Date of Birth/Age : |
04.03.1971 |
|
Date of Appointment : |
22.02.2012 |
|
PAN No.: |
APRPP2213A |
|
DIN No.: |
02011709 |
|
|
|
|
Name : |
Mr. Monsoon Latane Bissell |
|
Designation : |
Director |
|
Address : |
N-19, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
17.12.1969 |
|
Date of Appointment : |
27.06.2000 |
|
PAN No.: |
ADIPB5408Q |
|
DIN No.: |
02705935 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Grover |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Ms. Monika Uppal |
|
Designation : |
Secretary |
|
Address : |
11/141, Malviya Nagar, New Delhi-110017, India |
|
Date of Birth/Age : |
22.01.1981 |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AAQPU1770P |
|
|
|
|
Name : |
Mr. Subrata Dutta |
|
Designation : |
Chief Executive Officer |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B. Tech (Hons) IIT Kharagpur PGDM, IIM Bangalore |
|
Experience : |
26 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 10.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Venture Capital |
10.83 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
39.54 |
|
Bodies
corporate |
5.68 |
|
Directors
or relatives of directors |
39.34 |
|
Other
top fifty shareholders |
4.25 |
|
Others
|
0.36 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designing, Logistic
Support, Contract Manufacturing, Procurement and Sale by way of retailing of crafts
and fabrics, garments and accessories, home furnishings, furniture, organic
food, handicraft/imitation jewellery, leather items, body care products and
other similar products. |
|
|
|
|
Brand Names : |
“Fabindia” |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Imports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit [30 Days, 60 Days and 90 Days] |
|
|
|
|
Purchasing : |
Cash and Credit [30 Days, 60 Days and 90 Days] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users and OEMs
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
·
The Hongkong and Shanghai Banking
Corporation Limited Birla Towers, 25, Barakhamba Road,, New Delhi -
110001, Delhi, India ·
Kotak Mahindra Bank Limited 15-16, UGF Ambadeep Building, 14, K G Marg,
Connaught Place, New Delhi - 110001, Delhi, India ·
The Saraswat Co-Operative Bank Limited ·
Citibank N.A. Jeevan Vihar, 3 Sansad Marg, New Delhi - 110001,
Delhi, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohinder Puri and Company Chartered Accountants |
|
Address : |
1 A and C, Vandhna Building, 11 Tolstoy Marg, New
Delhi, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM9269R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary company : |
·
East Limited, United Kingdom ·
Artisans Micro Finance Private Limited
[U65921DL2007PTC158364] ·
Fabindia Artisans and Crafts Limited ·
Fabindia International Pte. Limited ·
Indigo Origins Pte. Limited · Rang Bandhej Retail Private Limited [U52590DL2011PTC227230] |
|
|
|
|
Associates : |
·
Bengal Artisans Craft Company Limited
[U17122WB2007PLC116612] ·
Dah Chanderi Limited
[U74994MP2007PLC019325] ·
Deccan Crafts and Weavers Limited
[U19129KA2008PLC045298] ·
Delhi Artisans Limited
[U62200DL2007PLC167242] ·
Desert Artisans Handicrafts Bhuj Limited
[U17299GJ2007PLC050120] ·
Desert Artisans Handicrafts Jaipur Limited
[U74994RJ2007PLC023598] ·
Desert Artisans Handicrafts Jodhpur Limited
[U74994RJ2007PLC023599] ·
Dilli Karigari Limited
[U18204DL2007PLC167281] ·
Krishna Weavers Limited
[U74999TG2008PLC059430] ·
Mumbai Vastra Kala Limited
[U51311MH2007PLC174763] ·
Naugaon Artisans Handicrafts Limited
[U17239UP2007PLC033378] ·
Nilgiri Artisans Limited
[U36998TN2008PLC066042] ·
Orissa Artisans and Weavers Limited
[U17226OR2010PLC012597] ·
Rangsutra Crafts India Limited
[U52511RJ2006PLC026497] ·
Saptrangi Craft Limited
[U36900GJ2007PLC051883] ·
UP Artisans Sutradhar Limited
[U74991UP2007PLC033947] ·
Weavers India General Trading LLC, Dubai ·
FABINDIA S.r.l., Italy ·
Organic India Private Limited [U74130UP1997PTC021420] |
CAPITAL STRUCTURE
AFTER 10.09.2014
Authorised Capital : Rs. 25.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 23.027
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,365,170 |
Equity Shares |
Rs. 10/- each |
Rs. 23.652
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,240,170 |
Equity Shares [Fully paid up] |
Rs. 10/- each |
Rs. 22.402
Million |
|
|
Equity Shares [Not fully paid up] |
|
Rs. 0.125
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 22.527 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 |
22.527 |
22.527 |
22.027 |
|
(b) Reserves & Surplus |
3522.852 |
3084.048 |
2402.843 |
|
(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) |
3545.379 |
3106.575 |
2424.870 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1.245 |
0.926 |
0.526 |
|
(d)
long-term provisions |
81.654 |
71.293 |
32.923 |
|
Total
Non-current Liabilities (3) |
82.899 |
72.219 |
33.449 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
235.452 |
0.000 |
157.672 |
|
(b)
Trade payables |
194.322 |
89.985 |
83.018 |
|
(c)
Other current liabilities |
355.402 |
281.900 |
239.527 |
|
(d)
Short-term provisions |
218.101 |
154.580 |
138.597 |
|
Total
Current Liabilities (4) |
1003.277 |
526.465 |
618.814 |
|
|
|
|
|
|
TOTAL |
4631.555 |
3705.259 |
3077.133 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
978.593 |
823.167 |
769.510 |
|
(ii)
Intangible Assets |
163.025 |
159.454 |
57.454 |
|
(iii)
Capital work-in-progress |
18.123 |
23.972 |
26.377 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
962.395 |
638.953 |
479.047 |
|
(c) Deferred tax assets
(net) |
43.048 |
20.154 |
17.069 |
|
(d) Long-term Loan
and Advances |
257.576 |
228.419 |
182.723 |
|
(e)
Other Non-current assets |
0.010 |
14.511 |
10.864 |
|
Total
Non-Current Assets |
2422.770 |
1908.630 |
1543.044 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
82.500 |
0.000 |
0.000 |
|
(b)
Inventories |
1744.262 |
1265.863 |
1072.238 |
|
(c)
Trade receivables |
36.887 |
37.701 |
40.368 |
|
(d)
Cash and cash equivalents |
93.790 |
381.056 |
330.558 |
|
(e)
Short-term loans and advances |
246.513 |
107.519 |
88.168 |
|
(f)
Other current assets |
4.833 |
4.490 |
2.757 |
|
Total
Current Assets |
2208.785 |
1796.629 |
1534.089 |
|
|
|
|
|
|
TOTAL |
4631.555 |
3705.259 |
3077.133 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
6045.061 |
5424.928 |
4847.684 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE PRIOR PERIOD ADJUSTMENTS, EXCEPTIONAL AND EXTRAORDINARY ITEMS AND
TAX |
818.242 |
711.495 |
618.690 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PRIOR PERIOD
ADJUSTMENTS |
0.832 |
62.108 |
0.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
817.410 |
649.387 |
617.970 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
273.186 |
218.616 |
214.834 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
544.224 |
430.771 |
403.136 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
230.10 |
182.13 |
174.13 |
|
Expected Sales (2014-2015): Rs. 6500.000 Million
The above information has been parted by Mr. Ashish Grover (Accounts
Manager)
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) |
(%) |
9.00 |
7.94 |
8.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.66 |
21.49 |
24.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.21 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.07 |
0.00 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20 |
3.41 |
2.48 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
22.027 |
22.527 |
22.527 |
|
Reserves & Surplus |
2402.843 |
3084.048 |
3522.852 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2424.870 |
3106.575 |
3545.379 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
157.672 |
0.000 |
235.452 |
|
Total
borrowings |
157.672 |
0.000 |
235.452 |
|
Debt/Equity ratio |
0.065 |
0.000 |
0.066 |
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) |
|
Revenue from Operations |
4847.684 |
5424.928 |
6045.061 |
|
|
|
11.908 |
11.431 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from Operations |
4847.684 |
5424.928 |
6045.061 |
|
Profit |
403.136 |
430.771 |
544.224 |
|
|
8.32% |
7.94% |
9.00% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
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 |
Yes |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10428008 |
10/10/2013 * |
350,000,000.00 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
BIRLA TOWERS, 25,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B86809902 |
|
2 |
10271179 |
21/01/2014 * |
250,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
7TH FLOOR,
AMBADEEP BUILDING, 14, KG MARG, NEW DELHI, DELHI - 110001, INDIA |
B96638036 |
|
3 |
10008302 |
27/01/2014 * |
350,000,000.00 |
STANDARD CHARTERED
BANK |
CREDIT RISK
CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
B97124499 |
|
4 |
80003418 |
20/02/2014 * |
311,000,000.00 |
CITIBANK N.A |
JEEVAN BHARTI BUILDING,
4TH FLOOR, 124 CONNAUGHT |
B96885231 |
|
5 |
90049362 |
14/01/2003 * |
80,000,000.00 |
THE BANK OF
NOVASCOTIA |
MG ROAD BRANCH,
BANGALORE, KARNATAKA - 560001, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
The Company is a private company domiciled in India and incorporated
under the provisions of the Companies Act, 1956.
The Company is engaged in the business of designing, logistic support, contract manufacturing, procurement and sale by way of retailing of crafts and fabrics, garments and accessories, home furnishings, furniture, organic food, handicraft/imitation jewellery, leather items, body care products and other similar products under a single brand name “Fabindia”.
OPERATIONAL HIGHLIGHTS STANDALONE BASIS
Profit
before Prior period adjustments, Exceptional and Extraordinary Items and Tax
increased to Rs. 818.200 Million from Rs. 711.500 Million in the previous year,
a growth of 15%. As compared to the previous year, the Revenue from operations
increased by 11.43% from Rs. 5424.900 Million to Rs. 6045.000 Million.
NEW STORES
During
the Financial year 2013-2014, the Company has opened 17 new retail outlets,
taking the number of stores to 175 at the time of writing this report. The
company now has a presence across 73 cities of the country and has
international presence through retail stores in countries like Italy,
Singapore, Nepal, Mauritius and UAE.
AWARDS, RECOGNITION AND ACCOLADES
During
the year, the Company was named amongst India’s top eight distinctive brands at
EMERGING INDIA AWARDS 2013 for Outstanding Achievement, promoted by CNBC TV18
and ICICI Bank, to honour Indian SMEs creating remarkable impact.
FIXED ASSETS:
·
Land
·
Buildings
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
·
Brands and trade marks
·
Computer software
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. 64.03 |
|
|
1 |
Rs. 99.27 |
|
Euro |
1 |
Rs. 71.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
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 |
|
64 |
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.