MIRA INFORM REPORT

Report No. :	310149
Report Date :	09.03.2015

IDENTIFICATION DETAILS

Name :	METRO SHOES LIMITED (w.e.f 14.05.2007)
Formerly Known As :	METRO SHOES PRIVATE LIMITED
Registered Office :	3^rd Floor, Metro House, Shahid Bhagat Singh Road, Colaba Causeway, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.01.1977
Com. Reg. No.:	11-019449
Capital Investment / Paid-up Capital :	Rs. 147.205 Million
CIN No.: [Company Identification No.]	U19200MH1977PLC019449
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is a retailer in fashion footwear, bags and accessories.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Aa (72)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 8000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The rating reflects MSL’s well-established market presence and strong brand recognition supported by strong financial base, unleveraged capital structure and comfortable liquidity position of the company. Trade relations are reported as fair. Business is active. Payments 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 – 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 Bank Facilities AA
Rating Explanation	High degree of safety and very low credit risk.
Date	23.01.2015

Rating Agency Name	CARE
Rating	Short-term Bank Facilities A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	23.01.2015

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 31-03-2014.

LOCATIONS

Registered Office :

3^rd Floor, Metro House, Shahid Bhagat Singh Road, Colaba Causeway, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-66560444/ 66560400

Fax No.:

91-22-66560490

E-Mail :

accounts@metroshoe.com

metroshoes@vsnl.com

info@metroshoe.com

Website :

http://www.metroshoes.net

Showrooms :

Located At:

Mumbai	Vijaywada
Thane	Chandigarh
Kalyan	Ludhiana
Navi Mumbai	Amritsar
Pune	Patiala
Nashik	Jalandhar
Nagpur	Baroda
Aurangabad	Ahmedabad
Nanded	Surat
Delhi	Rajkot
Kolkata	Jamnagar
Chennai	Lucknow
Coimbatore	Meerut
Madurai	Kanpur
Salem	Noida
Puducherry	Varanasi
Bangalore	Ghaziabad
Mangalore	Allahabad
Hyderabad	Gorakhpur
Secunderabad	Indore
Bhopal	Ambala
Jabalpur	Guwahati
Gwalior	Raipur
Kochi	Jodhpur
Calicut	Jaipur
Gurgaon	Dehradun

DIRECTORS

As on 26.09.2014

Name :

Rafique Abdul Malik

Designation :

Whole Time Director

Address :

23/C, 20^th Floor, Kangchenjunga, 72, Pedder Road, Mumbai – 400028, Maharashtra, India

Qualification :

B.Com., OPM Harvard, U.S.A.

Date of Appointment :

01.04.2013

DIN No.:

00521563

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	U70100MH1987PTC042453	METRO HOUSE PRIVATE LIMITED	Director	05/02/87	05/02/87	-	Active	NO
2	U19200MH1977PLC019449	METRO SHOES LIMITED	Whole-time director	01/04/13	05/02/87	-	Active	NO
3	U45200MH1990PTC056197	METRO SHOPPING PLAZA PRIVATE LIMITED	Director	19/07/91	19/07/91	-	Active	NO
4	U52190MH1991PTC062556	METRO SHOPPING ARCADE PRIVATE LIMITED	Director	19/07/91	19/07/91	-	Active	NO
5	U67120MH1991PTC063966	METRO HOLDINGS AND SECURITIES PRIVATE LIMITED	Director	12/11/91	12/11/91	-	Active	NO
6	U55101MH1986PTC041097	GREENCHIP ESTATES AND RESORTS PRIVATE LIMITED	Director	07/10/99	07/10/99	08/12/10	Active	NO
7	U45400MH2007PTC170418	MILLENIUM LAND DEVELOPERS PRIVATE LIMITED	Director	28/04/07	28/04/07	28/06/14	Active	NO
8	U19201MH2009PTC195829	METMILL FOOTWEAR PRIVATE LIMITED	Nominee director	16/09/09	16/09/09	-	Active	NO
9	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	10/08/10	03/11/09	-	Active	NO
10	U91200MH2011NPL211926	ALL INDIA FOOTWEAR MANUFACTURERS AND RETAILERS ASSOCIATION	Director	06/01/11	06/01/11	-	Active	NO
11	L32300MH1981PLC023637	MIRC ELECTRONICS LIMITED	Director	03/09/14	28/01/14	-	Active	NO
12	L31909KA1974PLC020010	ADOR FONTECH LIMITED	Additional director	30/01/15	30/01/15	-	Active	NO
13	AAA-1271	ORCHID PALACE LLP	Designated Partner	03/05/10	03/05/10	-	Active	NO
14	AAA-2074	ROSE PALACE LLP	Designated Partner	19/08/10	19/08/10	-	Active	NO
15	AAA-2075	LOTUS PALACE LLP	Designated Partner	19/08/10	19/08/10	-	Active	NO
16	AAB-9337	ALLIUM PROPERTY LLP	Designated Partner	16/12/13	16/12/13	-	Active	NO

Name :

Jalaluddin Jafferali Kamdar

Designation :

Whole Time Director

Address :

A-41, Yuwan Apts, 413/414, Mount Mary Road, Bandra West, Mumbai – 400050, Maharashtra, India

Qualification :

B.Com. (Hons.) F.C.A.

Date of Appointment :

01.04.2012

DIN No.:

00521577

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	U19200MH1977PLC019449	METRO SHOES LIMITED	Whole-time director	01/04/12	05/12/00	-	Active	NO

Name :

Farah Malik Bhanji

Designation :

Managing Director

Address :

203, 2^nd Floor, Samundra Daurav Apartments, A. G. Road, Worli Sea Face, Worli, Mumbai – 400025, Maharashtra, India

Qualification :

B.A., B.B.A. in Finance(USA)

Date of Appointment :

01.04.2013

DIN No.:

00530676

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	U45200MH1990PTC056197	METRO SHOPPING PLAZA PRIVATE LIMITED	Director	18/12/01	18/12/01	-	Active	NO
2	U67120MH1991PTC063966	METRO HOLDINGS AND SECURITIES PRIVATE LIMITED	Director	18/12/01	18/12/01	-	Active	NO
3	U52190MH1991PTC062556	METRO SHOPPING ARCADE PRIVATE LIMITED	Director	18/12/01	18/12/01	-	Active	NO
4	U70100MH1987PTC042453	METRO HOUSE PRIVATE LIMITED	Director	18/12/01	18/12/01	-	Active	NO
5	U19200MH1977PLC019449	METRO SHOES LIMITED	Managing director	01/04/13	18/12/01	-	Active	NO

Name :

Aziza Rafique Malik

Designation :

Whole Time Director

Address :

23/C, 20^th Floor, Kanchanjunga, 72, Peddar Road, Mumbai – 400028, Maharashtra, India

Qualification :

B.Com.

Date of Appointment :

01.04.2012

DIN No.:

00167534

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	U19200MH1977PLC019449	METRO SHOES LIMITED	Whole-time director	01/04/12	08/08/92	-	Active	NO
2	U45200MH1990PTC056197	METRO SHOPPING PLAZA PRIVATE LIMITED	Director	08/10/92	08/10/92	-	Active	NO
3	U67120MH1991PTC063966	METRO HOLDINGS AND SECURITIES PRIVATE LIMITED	Director	08/10/92	08/10/92	-	Active	NO
4	U52190MH1991PTC062556	METRO SHOPPING ARCADE PRIVATE LIMITED	Director	18/10/92	18/10/92	-	Active	NO
5	U70100MH1987PTC042453	METRO HOUSE PRIVATE LIMITED	Director	18/02/94	18/02/94	-	Active	NO
6	U45400MH2007PTC170418	MILLENIUM LAND DEVELOPERS PRIVATE LIMITED	Director	28/04/07	28/04/07	29/03/10	Active	NO
7	AAA-1271	ORCHID PALACE LLP	Designated Partner	03/05/10	03/05/10	-	Active	NO
8	AAA-2074	ROSE PALACE LLP	Designated Partner	19/08/10	19/08/10	-	Active	NO
9	AAA-2075	LOTUS PALACE LLP	Designated Partner	19/08/10	19/08/10	-	Active	NO
10	AAB-9337	ALLIUM PROPERTY LLP	Designated Partner	16/12/13	16/12/13	-	Active	NO

Name :

Rakesh Radheshyam Jhunjhunwala

Designation :

Director

Address :

16 C, 16^th Floor IL Palazzo, LT GI Road, M Hill, Mumbai-400006, Maharashtra, India

Date of Appointment :

14.03.2007

DIN No.:

00777064

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	U12000MH1999PTC119259	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED	Director	31/03/08	02/08/01	-	Active	NO
2	L27101PN1985PLC038031	PRAJ INDUSTRIES LIMITED	Director	02/03/04	02/03/04	28/07/07	Active	NO
3	L72200AP1990PLC011146	NCC LIMITED	Director	10/03/04	10/03/04	27/09/13	Active	NO
4	L28939PN1987PLC043953	BILCARE LIMITED	Director	31/03/04	31/03/04	04/07/09	Active	NO
5	U24110MH2001PLC134105	INNOVASSYNTH TECHNOLOGIES (INDIA ) LIMITED	Director	14/06/04	14/06/04	25/06/08	Active	NO
6	L92100MH1997PLC108981	PRIME FOCUS LIMITED	Director	22/08/04	22/08/04	26/07/13	Active	NO
7	U80210MH2004PTC148177	OHM EDUCOM FOUNDATION PRIVATE LIMITED	Director	24/08/04	24/08/04	17/06/10	Active	NO
8	U24230GJ1984PLC007440	CONCORD BIOTECH LIMITED	Director	13/12/04	13/12/04	30/06/08	Active	NO
9	L22100MH1981PLC024052	NEXT MEDIA WORKS LIMITED	Director	31/01/05	31/01/05	20/04/10	Active	NO
10	L67120KL1994PLC008403	GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED	Director	28/03/05	28/03/05	-	Active	NO
11	U74920MH1982PLC027283	TOPS SECURITY LIMITED	Director	23/05/05	23/05/05	22/07/08	Active	NO
12	L55101AP1965PLC001048	VICEROY HOTELS LIMITED	Director	11/08/05	11/08/05	15/10/12	Active	NO
13	L72900MH2000PLC123841	APTECH LIMITED	Director	28/10/05	28/10/05	-	Active	NO
14	U19200MH1977PLC019449	METRO SHOES LIMITED	Director	14/03/07	14/03/07	-	Active	NO
15	U72200GA2006PTC004816	INVENTURUS KNOWLEDGE SOLUTIONS PRIVATE LIMITED	Director	26/03/07	26/03/07	-	Active	NO
16	U74140DL2004PTC124402	ASPIRE HUMAN CAPITAL MANAGEMENT PRIVATE LIMITED	Director	30/09/08	24/11/07	20/02/09	Active	NO
17	L52602MH1996PLC192090	FUTURE CONSUMER ENTERPRISE LIMITED	Director	30/09/08	20/02/08	04/08/10	Active	NO
18	U45201TG1993PLC057762	DHARTI DREDGING AND INFRASTRUCTURE LIMITED	Director	09/03/08	09/03/08	07/01/09	Active	NO
19	U24230MH1985PLC036952	MANEESH PHARMACEUTICALS LIMITED	Director	30/12/08	27/03/08	15/10/10	Active	NO
20	L34300PN1996PLC104510	AUTOLINE INDUSTRIES LIMITED	Director	27/09/08	27/06/08	08/08/11	Active	NO
21	L74999HR2002PLC034805	A2Z INFRA ENGINEERING LIMITED	Director	30/09/09	01/07/09	15/10/12	Active	NO
22	L65493PN1990PLC058817	DELTA CORP LIMITED	Director	26/09/11	29/10/10	-	Active	NO

Name :

Utpal Hemendra Sheth

Designation :

Alternate Director

Address :

2901, 29^th Floor, B Wing, Beaumonde,, A.S. Marathe Marg, PBD, Mumbai – 400006, Maharashtra, India

Date of Appointment :

14.03.2007

DIN No.:

00081012

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	U65990MH1991PTC063580	INSIGHT ASSET MANAGEMENT (INDIA) PRIVATE LIMITED	Director	11/10/91	11/10/91	-	Active	NO
2	U67120MH1997PTC105571	HRS INSIGHT FINANCIAL INTERMEDIARIES PRIVATE LIMITED	Director	31/01/97	31/01/97	-	Active	NO
3	U67100MH2005PTC151400	CHANAKYA CORPORATE SERVICES PRIVATE LIMITED	Director	18/02/05	18/02/05	-	Active	NO
4	U51900MH1998PTC116557	TRUST TRADE AND INVESTMENT COMPANY PRIVATE LIMITED	Director	19/10/06	19/10/06	-	Strike off	NO
5	L72900MH2000PLC123841	APTECH LIMITED	Director	28/10/06	28/10/06	-	Active	NO
6	U19200MH1977PLC019449	METRO SHOES LIMITED	Alternate director	14/03/07	14/03/07	-	Active	NO
7	L27101PN1985PLC038031	PRAJ INDUSTRIES LIMITED	Director appointed in casual vacancy	28/07/07	28/07/07	28/07/14	Active	NO
8	U17120MH1993PTC074456	RARE EQUITY PRIVATE LIMITED	Additional director	01/11/07	01/11/07	-	Active	NO
9	U65910MH1986PTC040671	CLUE LEASING AND FINANCE PRIVATE LIMITED	Director	01/11/07	01/11/07	03/02/15	Active	NO
10	U67120MH1988PTC049423	HILLCROFT INVESTMENTS COMPANY PRIVATE LIMITED	Additional director	01/11/07	01/11/07	03/02/15	Active	NO
11	U45400MH2008PTC177951	MOSS ESTATES PRIVATE LIMITED	Director	11/02/08	11/02/08	-	Strike off	NO
12	U45400MH2008PTC177950	MOSS PROPERTIES PRIVATE LIMITED	Director	11/02/08	11/02/08	-	Strike off	NO
13	U24110MH2001PLC134105	INNOVASSYNTH TECHNOLOGIES (INDIA ) LIMITED	Director	30/09/09	25/06/08	26/09/12	Active	NO
14	L72200TG1993PLC015939	ZEN TECHNOLOGIES LIMITED	Director	12/09/08	30/06/08	28/09/13	Active	NO
15	U74920MH1982PLC027283	TOPS SECURITY LIMITED	Director	15/12/08	22/07/08	22/01/14	Active	NO
16	U70102MH2008PTC183684	RACE AHEAD PROPERTIES PRIVATE LIMITED	Director	20/08/08	20/08/08	-	Active	NO
17	L72200AP1990PLC011146	NCC LIMITED	Director	25/09/14	31/10/09	-	Active	NO
18	U24230GJ1984PLC007440	CONCORD BIOTECH LIMITED	Director	14/09/10	04/12/09	-	Active	NO
19	L92142MH2002PLC135964	CINELINE INDIA LIMITED	Director	19/09/13	28/07/10	-	Active	NO
20	U65991MH2010PTC206150	TRUST-PLUTUS WEALTH MANAGERS ( INDIA) PRIVATE LIMITED	Director	31/07/10	31/07/10	-	Active	NO
21	U34300MH1994PLC081463	KLT AUTOMOTIVE AND TUBULAR PRODUCTS LIMITED	Director	29/09/11	25/09/10	18/03/14	Active	NO
22	U67110MH2011PTC215357	TRUST CAPITAL HOLDINGS PRIVATE LIMITED	Director	26/03/11	26/03/11	-	Active	NO
23	L92490TN1986PLC013044	STERLING HOLIDAY RESORTS (INDIA) LIMITED	Director	23/07/12	07/11/11	14/03/14	Active	NO
24	L93030DL2011PLC262151	CINEMAX INDIA LIMITED	Additional director	24/05/12	24/05/12	08/01/13	Amalgamated	NO
25	U67190MH2011PTC220268	CAERUS ADVISORS PRIVATE LIMITED	Director	25/07/12	25/07/12	-	Active	NO
26	U55101MH2005PTC158245	KANAKIA HOSPITALITY PRIVATE LIMITED	Director	28/09/13	05/02/13	-	Active	NO
27	U65923MH2013PTC245798	TRUSTPLUTUS FAMILY OFFICE & INVESTMENT ADVISERS (INDIA) PRIVATE LIMITED	Director	17/07/13	17/07/13	-	Active	NO
28	U67190MH2013PTC248869	CHANAKYA WEALTH CREATION PRIVATE LIMITED	Director	04/10/13	04/10/13	-	Active	NO
29	U72200GA2006PTC004816	INVENTURUS KNOWLEDGE SOLUTIONS PRIVATE LIMITED	Additional director	03/12/14	03/12/14	-	Active	NO
30	U45201TG1993PLC057762	DHARTI DREDGING AND INFRASTRUCTURE LIMITED	Additional director	05/02/15	05/02/15	-	Active	NO
31	AAA-0155	INSYNC CAPITAL PARTNERS LLP	Designated Partner	28/08/09	28/08/09	-	Active	NO
32	AAA-2697	CHANAKYA VALUE CREATION LLP	Designated Partner	02/11/10	02/11/10	-	Active	NO
33	AAB-0266	ZEN SUPERSTRUCTURE LLP	Designated Partner	18/07/12	18/07/12	-	Active	NO
34	AAD-2898	GOLDCREST ADVISORS LLP	Designated Partner	02/02/15	02/02/15	-	Active	NO

Name :

Manoj Madangopal Maheshwari

Designation :

Director

Address :

Maheshwari House, 36 L Jagmohandas Marg, Mumbai – 400036, Maharashtra, India

Date of Appointment :

24.09.2009

DIN No.:

00012341

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	U67120MH1946PTC004728	MAHESWARI INVESTORS PRIVATE LIMITED	Director	29/09/75	29/09/75	-	Active	NO
2	U74900MH1976PTC018960	IGNITE EDUCATION PRIVATE LIMITED	Director	15/04/76	15/04/76	-	Active	NO
3	L17118MP1980PLC001697	HIND SYNTEX LIMITED	Director	03/12/80	03/12/80	18/02/11	Active	NO
4	U51103MH1990PTC058761	KARJAN ENTERPRISES PRIVATE LIMITED	Director	30/10/90	30/10/90	-	Amalgamated	NO
5	U72400MH1992PTC065736	AUROVISION SOLUTIONS (INDIA) PRIVATE LIMITED	Director	05/03/92	05/03/92	18/06/12	Active	NO
6	L32300MH1981PLC023637	MIRC ELECTRONICS LIMITED	Director	24/05/93	24/05/93	26/03/14	Active	NO
7	U51900MH1946PTC013532	GOPAL TRADERS PRIVATE LIMITED	Director	15/04/94	15/04/94	27/07/12	Active	NO
8	U74999MH1999PTC121254	MW COM (INDIA)PRIVATE LIMITED	Director	12/08/99	12/08/99	30/09/09	Active	NO
9	U36911WB1920PLC003632	HAMILTON & COMPANY LIMITED	Director	29/12/99	29/12/99	-	Active	NO
10	U32200MH1985PTC035379	AUROVISION PRIVATE LIMITED	Director	20/03/03	20/03/03	01/08/13	Active	NO
11	U29299MH1963PLC019745	MAHINDRA HINODAY INDUSTRIES LIMITED	Nominee director	06/01/07	29/09/03	06/11/08	Amalgamated	NO
12	L24239MH1967PLC013739	BRABOURNE ENTERPRISES LIMITED	Director	08/07/04	08/07/04	18/06/08	Amalgamated	NO
13	L70100MH1951PLC008647	ADOR WELDING LIMITED	Director	28/03/05	28/03/05	-	Active	NO
14	U67120MH1976PTC018954	R J INVESTMENT PRIVATE LIMITED	Director	08/04/05	08/04/05	-	Active	NO
15	U72200KA2006PTC040763	INMOBI TECHNOLOGIES PRIVATE LIMITED	Director	06/12/06	06/12/06	21/04/08	Active	NO
16	L24232MH2007PLC169354	RPG LIFE SCIENCES LIMITED	Director	25/09/14	06/02/08	-	Active	NO
17	U72900MH2007PTC170259	QUADRUM SOLUTIONS PRIVATE LIMITED	Director	06/08/08	04/03/08	20/09/14	Active	NO
18	L99999MH1962PLC012542	MAHINDRA UGINE STEEL COMPANY LIMITED	Director	05/08/14	23/10/08	-	Amalgamated	NO
19	U19200MH1977PLC019449	METRO SHOES LTD	Director	24/09/09	24/07/09	-	Active	NO
20	L27100MH1999PLC121285	MAHINDRA CIE AUTOMOTIVE LIMITED	Director	29/09/14	04/10/13	-	Active	NO

Name :

Aruna Bhaawan Advani

Designation :

Director

Address :

6 / 65, Shyam Niwas, Bhulabhai, Desai Road, Mumbai – 400026, Maharashtra, India

Date of Appointment :

21.09.2010

DIN No.:

00029256

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	U51900MH1925PTC004217	J B ADVANI AND COMPANY PRIVATE LIMITED	Director	27/05/80	27/05/80	-	Active	NO
2	L85110KA1948PLC000545	ADOR MULTI PRODUCTS LIMITED	Director	09/04/86	09/04/86	31/01/14	Active	NO
3	U31103PN1995PLC084268	ADOR POWERTRON LIMITED	Director	28/07/06	28/07/06	-	Active	NO
4	L70100MH1951PLC008647	ADOR WELDING LIMITED	Whole-time director	01/05/14	21/03/07	-	Active	NO
5	U74999MH2008PTC186104	ADOR GREEN-ENERGY PRIVATE LIMITED	Director	22/08/08	22/08/08	-	Active	NO
6	U19200MH1977PLC019449	METRO SHOES LIMITED	Director	21/09/10	27/07/10	-	Active	NO
7	U74900MH2011PTC221677	GREENLINE INDUSTRIAL SYSTEMS PRIVATE LIMITED	Director	08/09/11	08/09/11	-	Active	NO
8	U74900PN2012PTC144148	ADOR WELDING ACADEMY PRIVATE LIMITED	Director	24/07/12	24/07/12	-	Active	NO

KEY EXECUTIVES

Name :	JJ Desai
Designation :	Secretary
Address :	Flat No. A/3, Kaustubh Apartments, adarsh Colony, Kopri, Thane East – 400603, Maharashtra, India
Qualification :	B.com. (Hons), L.L.B., (Gen) A.C.A, A.C.S.
Date of Appointment :	22.11.2012
PAN No.:	AEGPD3198E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Note: Shareholders File Attached

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Directors or relatives of Directors	99.23
Other top fifty shareholders	0.67
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is a retailer in fashion footwear, bags and accessories.
Products :	Fashion Footwear Bags
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

No. of Employees :

Not Available

Bankers :

• ICICI Bank Limited, 240, Navsari Building, D. N. Road, Fort Branch, Mumbai-400001, Maharashtra, India
• Axis Bank Limited
• HDFC Bank Limited
• Standard Chartered Bank
• State Bank of India
• Yes Bank Limited

Auditors :
Name :	Billimoria Zubin Framroze Chartered Accountants
Address :	3 Rd Floor Heritage Near Gujrathvidya Pith, Offashram Road,Ahmedabad -380014
PAN N Income-tax PAN of auditor or auditor's firm :	AABFD7919A
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Metmill Footwear Private Limited (U19201MH2009PTC195829)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Metro Shopping Arcade Private Limited Metro Shopping Plaza Private Limited Design Matrix Associates Private Limited Metro Shoes

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Shares	Rs.10/- each	Rs.150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14,720,455	Equity Shares	Rs.10/- each	Rs.147.205 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	147.205	147.107	48.980
(b) Reserves & Surplus	2558.375	2030.887	1703.846
(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)	2705.580	2177.994	1752.826
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	17.612
(c) Other long term liabilities	25.233	21.291	15.834
(d) long-term provisions	0.000	0.000	6.548
Total Non-current Liabilities (3)	25.233	21.291	39.994
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	711.606	554.808	516.305
(c) Other current liabilities	312.900	78.598	60.467
(d) Short-term provisions	33.809	31.198	92.674
Total Current Liabilities (4)	1058.315	664.604	669.446
TOTAL	3789.128	2863.889	2462.266
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	661.235	569.683	543.565
(ii) Intangible Assets	7.609	10.705	12.159
(iii) Capital work-in-progress	9.736	16.841	0.000
(iv) Intangible assets under development	6.628	0.000	0.000
(b) Non-current Investments	1.275	1.275	1.275
(c) Deferred tax assets (net)	14.275	10.277	0.000
(d) Long-term Loan and Advances	228.110	198.870	225.144
(e) Other Non-current assets	2.714	2.265	0.000
Total Non-Current Assets	931.582	809.916	782.143
(2) Current assets
(a) Current investments	785.031	354.747	70.812
(b) Inventories	1840.655	1440.669	1445.616
(c) Trade receivables	11.403	24.990	20.488
(d) Cash and cash equivalents	77.053	111.318	59.862
(e) Short-term loans and advances	139.853	120.134	80.300
(f) Other current assets	3.551	2.115	3.045
Total Current Assets	2857.546	2053.973	1680.123
TOTAL	3789.128	2863.889	2462.266

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	6360.910	5590.752	4641.539
	Other Income	47.719	36.237	32.336
	TOTAL (A)	6408.629	5626.989	4673.875
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000	0.000
	Purchases of Stock-in-Trade	3421.147	2735.318	2685.090
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(345.956)	38.899	(394.555)
	Prior period items	0.000	49.551	0.000
	Employees benefits expense	384.438	300.019	189.310
	Other expenses	1759.557	1558.435	1294.529
	TOTAL (B)	5219.186	4682.222	3774.374
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1189.443	944.767	899.501
Less	FINANCIAL EXPENSES (D)	0.000	0.843	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1189.443	943.924	899.501
Less/ Add	DEPRECIATION/ AMORTISATION (F)	109.946	76.432	39.803
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1079.497	867.492	859.698
Less	TAX (I)	363.488	278.397	276.301
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	716.009	589.095	583.397
	Earnings / (Loss) Per Share (Rs.)
	Basic earnings per equity share	48.66	40.05	39.67
	Diluted earnings per equity share	48.66	40.04	39.66

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	11.26	10.54	12.57
Operating Profit Margin (PBIDT/Sales)	(%)	18.70	16.90	19.38
Return on Total Assets (PBT/Total Assets}	(%)	28.73	30.59	34.93
Return on Investment (ROI) (PBT/Networth)		0.40	0.40	0.49
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.70	3.09	2.51

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	48.980	147.107	147.205
Reserves & Surplus	1703.846	2030.887	2558.375
Net worth	1752.826	2177.994	2705.580
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	4641.539	5590.752	6360.910
		20.450	13.776

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	4641.539	5590.752	6360.910
Profit	583.397	589.095	716.009
	12.57%	10.54%	11.26%

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	Yes
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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

BUSINESS PERFORMANCE

During the year under review the Indian economy has faced many challenges, such as high inflation, lower GDP growth, high interest rates, subdued business sentiment and low demand from the consumers.

The Company recorded growth of 15.10% in total earnings to 7707.600 Million (including other income of 47.700 Million) compared to total earnings of 6696.700 Million for the previous year.

The Profit Before Tax (PBT) and Prior Period Item was 1079.500 Million (previous year 917.000 Million), growth of 17.72% and Profit After Tax (PAT) was at 716.000 Million (previous year 589.100 Million), up by 21.54%. The improvement in profitability is mainly due to improved gross margin.

The Company opened first stores in 13 cities - Ajmer (Rajasthan), Belgaum (Karnataka), Bhilai (Chattishgarh), Bikaner (Rajasthan), Haldwani (Uttarakhand), Hubli (Karnataka), Karnal (Haryana), Kottayam (Kerala), Nanded (Maharashtra), Pathankot (Punjab), Ranchi (Jharkhand) Silchar (Assam) and Trichy (Tamilnadu). The Company opened 52 new showrooms during the year and closed 10 stores of which 5 were shop-in-shops for value line format. The total number of stores was 281 as of March 2014.

During the year, store renovations were carried out in the Company’s stores at R.C. Dutt Road (Vadodara), Colaba (Mumbai), Forum Mall (Kolkata), Forum Mall (Bangalore), Abids (Hyderabad), Metro Junction Mall (Kalyan), Mall Road (Ludhiana) and Malad (Mumbai).

The number of high fashion stores increased from 204 stores to 244 stores and contributed sales of 7379.800 Million as against 6442.000 Million for the previous year, registering growth of 14.56% during the year.

The value line stores increased from 35 to 37 of which standalone stores increased from 13 to 20 and shop-in-shops reduced from 22 to 17. These stores contributed sales of 263.700 Million compared to 218.500 Million of previous year, registering growth of 20.69% during the year.

The ecommerce sales were at 16.440 Million against 7.889 Million during the previous year. In order to reach more potential customers online, the Company has tied-up with online retailers like Flipkart, Amazon, Snapdeal, Jabongs and Fashos. The Company has also introduced Cash on Delivery facility to attract more customers. E-commerce business has tremendous potentials and the Company is studying various options to accelerate growth without compromising on profitability and without affecting growth of fashion stores.

The Loyalty club members have increased to 1.650 Million (previous year 1.100 Million) during the year, an increase of 50%. The Company is focusing on increasing the loyalty club members as they are expected to drive sales in future.

In order to ensure good quality of footwear the Company has started trading in a few footwear components on a small scale by supplying the components to the manufacturers of footwear for the Company.

The Company has shifted its operations in Bhiwandi to a larger warehouse of 120,000 sq. fts. from September 2013.

The Company faced major challenges at the beginning of the current Financial Year as there were three incidents of fire. In back to back incidents in April 2014, Company’s store at Jayanagar (Bangalore) and Depot at Byculla (Mumbai) were totally damaged. In July 2014 the Company’s

Notes:

No Charges Exist for Company.

FIXED ASSETS:

Tangible assets

· Plant and equipment

· Vehicles

· Office equipment

· Computer equipment’s

· Leasehold improvements

Intangible assets

· Trade marks

· Computer software

· Copyrights, patents and other operating rights

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.20
UK Pound	1	Rs.94.71
Euro	1	Rs.68.60

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		72

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.