MIRA INFORM REPORT
|
Report No. : |
344120 |
|
Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
TATA UNISTORE LIMITED (w.e.f
13.05.2015) |
|
|
|
|
Formerly Known
As : |
TATA INDUSTRIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Bombay House, 1st Floor, 24 Homi Mody Street, Fort, Mumbai
- 400001, Maharashtra |
|
Tel. No.: |
91-22-66658282 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-173035 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 196.856 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2007PLC173035 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT7290E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Online Retail Portal |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of Tata Industries Limited and is
a part of well-known Tata Group. It was erstwhile known as a “Tata Industrial
Services Limited” was a certified company in Aerospace and defence for
Program Management, supply chain Management, Quality Assurance Services
including supply of products for Aerospace. However, recently on 13th May 2015, the name of the company
has been changed to “Tata Unistore Limited” and with the new name the company
is entering into online retailing venture. It was incorporated in the year 2007 and having moderate track. The company has reported losses from its earlier business operations
since 2012 which has resulted in erosion of its networth position. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. In view of strong group holding and support, the company can be considered
for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Ashish Nikanth Diwnji |
|
Designation : |
Chief Financial Manager |
|
Contact No.: |
91-22-66657940 |
|
Date : |
06.10.2015 |
LOCATIONS
|
Registered Office : |
Bombay House, 1st Floor, 24 Homi Mody Street, Fort, Mumbai
- 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66658282 |
|
Fax No.: |
91-22-66657974 |
|
E-Mail : |
dbhagwagar@tata.com |
|
Website: |
www.tata.com www.tisl.in |
DIRECTORS
As on 03.09.2014
|
Name : |
Mr. Kanwar Rameshwar Singh Jamwal |
|
Designation : |
Director |
|
Address : |
181-B, Maker Towers, Co-operative Housing Society, Cuffe Parade,
Colaba, Mumbai - 400005, Maharashtra, India |
|
Date of Birth/Age : |
11.10.1965 |
|
Date of Appointment : |
12.08.2011 |
|
DIN No.: |
03129908 |
|
|
|
|
Name : |
Mr. Sriram Sethuraman |
|
Designation : |
Director |
|
Address : |
K-503, Dara Enclave, Army Colony, Sector 9, Nerul, Navi Mumbai - 400706, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1965 |
|
Date of Appointment : |
29.08.2013 |
|
DIN No.: |
05320597 |
|
|
|
|
Name : |
Mr. Nirmalya Kumar |
|
Designation : |
Additional Director |
|
Address : |
28, North Park, Gerrards Cross, Sl9 8jn, United Kingdom, 000000 |
|
Date of Appointment : |
04.09.2014 |
|
DIN No.: |
00364637 |
|
|
|
|
Name : |
Mr. Harish Ramananda Bhat |
|
Designation : |
Additional Director |
|
Address : |
No A-1053, Krest Park Apts, 39 Old Kanakapura Road, Basavanagudi, Bangalore - 560004, Karnataka, India |
|
Date of Appointment : |
06.01.2015 |
|
DIN No.: |
00478198 |
|
|
|
|
Name : |
Mr. Venkataraman Coimbatore Krishnamurthy |
|
Designation : |
Additional Director |
|
Address : |
L 141, 7th Main, Sector-10, LIC Housing Colony Nal 3rd Stage, Bangalore - 560075, Karnataka, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
05228157 |
|
|
|
|
Name : |
Mrs. Richa Arora |
|
Designation : |
Additional director |
|
Address : |
D-3106, Ashoka Towers-D, Parel, Mumbai - 400012, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07144694 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Nikanth Diwnji |
|
Designation : |
Chief Financial Manager |
|
Address : |
B1/101, Vedant Phase Ii Chs Limited,, Vartak Nagar, Pokhran Road - 1, Thane (West) - 400606, Maharashtra, India |
|
Date of Appointment : |
23.02.2015 |
|
PAN No.: |
AASPD2921M |
|
Name : |
Mr. Deepika Hoshi Bhagwagar |
|
Designation : |
Manager/Secretary |
|
Address : |
201, Sai Prabha, Plot No.140, 10th Road, Khar (West), Mumbai - 400052, Maharashtra, India |
|
Date of Birth/Age : |
23.04.1964 |
|
Date of Appointment : |
01.09.2013 |
|
PAN No.: |
ACHPB5445M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 03.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Tata Industries Limited |
|
19685610 |
|
Tata Industries Limited Jointly with D.H. B.H Agwagar |
|
1 |
|
Tata Industries Limited JTLY with Aman Kumar |
|
1 |
|
Tata Industries Limited JTLY with Dhirendra Singh Kushwah |
|
1 |
|
Tata Industries Limited JTLY with Anurag Sapre |
|
1 |
|
Tata Industries Limited JTLY with Sriram |
|
1 |
|
Tata Industries Limited JTLY Kamlesh Bhatt |
|
1 |
|
|
|
|
|
Total |
|
19685616 |
As on 07.07.2015
|
Names of Allotees |
|
No. of Shares |
|
Tata Industries Limited, India |
|
36000000 |
|
Trent Limited, India |
|
4000000 |
|
Total |
|
40000000 |
Equity Share Break up (Percentage of Total Equity)
As on 03.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Online Retail Portal |
||||||
|
|
|
||||||
|
Products/Services : (As on 31.03.2014) |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
|
|
|
Auditors : |
|
|
Name : |
M A Parikh and Company Chartered Accountants |
|
Address : |
Yusuf Building, 2nd Floor, 43 M G Road, Fort, Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFM1433H |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company: |
CIN No.:U44003MH1945PLC004403 |
|
|
|
|
Fellow Subsidiary
company: |
CIN No.:U85110MH2000PLC128425
CIN No.:U65921MH2006PLC238745
CIN No.:U74990TG2008PLC077969
CIN No.:U85110KA1989PLC013224 |
|
|
|
|
Associate: |
CIN No.:U74899DL1995PLC066685 |
CAPITAL STRUCTURE
After 03.09.2014
Authorised Capital : Rs. 2500.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1441.175
Million
As on 03.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19685616 |
Equity Shares |
Rs.10/- each |
Rs. 196.856
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 |
196.856 |
196.856 |
196.856 |
|
(b) Reserves & Surplus |
(381.439) |
(333.388) |
(252.893) |
|
(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) |
(184.583) |
(136.532) |
(56.037) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
113.000 |
138.080 |
59.480 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.353 |
0.353 |
|
(d) long-term
provisions |
22.949 |
24.272 |
21.210 |
|
Total Non-current
Liabilities (3) |
135.949 |
162.705 |
81.043 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
18.821 |
6.813 |
8.938 |
|
(c) Other current
liabilities |
61.232 |
21.187 |
2.180 |
|
(d) Short-term
provisions |
14.140 |
15.348 |
13.646 |
|
Total Current
Liabilities (4) |
94.193 |
43.348 |
24.764 |
|
|
|
|
|
|
TOTAL |
45.559 |
69.521 |
49.770 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2.721 |
3.503 |
7.164 |
|
(ii)
Intangible Assets |
0.907 |
0.072 |
0.327 |
|
(iii)
Capital work-in-progress |
0.000 |
1.351 |
1.285 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.067 |
12.197 |
10.861 |
|
(e) Other Non-current
assets |
0.175 |
1.916 |
4.875 |
|
Total Non-Current
Assets |
13.870 |
19.039 |
24.512 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
23.611 |
14.872 |
9.687 |
|
(d) Cash
and cash equivalents |
3.586 |
31.622 |
11.118 |
|
(e)
Short-term loans and advances |
4.331 |
2.866 |
4.247 |
|
(f) Other
current assets |
0.161 |
1.122 |
0.206 |
|
Total
Current Assets |
31.689 |
50.482 |
25.258 |
|
|
|
|
|
|
TOTAL |
45.559 |
69.521 |
49.770 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
61.339 |
28.758 |
26.971 |
|
|
Other Income |
4.858 |
3.960 |
3.784 |
|
|
TOTAL
|
66.197 |
32.718 |
30.755 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
41.300 |
20.794 |
21.268 |
|
|
Exceptional Items |
0.000 |
2.800 |
0.472 |
|
|
Employees benefits expense |
47.083 |
49.737 |
40.843 |
|
|
Other expenses |
24.539 |
38.556 |
39.294 |
|
|
TOTAL
|
112.922 |
111.887 |
101.877 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(46.725) |
(79.169) |
(71.122) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(46.725) |
(79.169) |
(71.122) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1.326 |
1.327 |
3.014 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(48.051) |
(80.496) |
(74.136) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(48.051) |
(80.496) |
(74.136) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(333.388) |
(252.892) |
(178.756) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(381.439) |
(333.388) |
(252.892) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.44) |
(4.09) |
(3.93) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
59.480 |
0.000 |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flows from (used in) operations |
(4.440) |
(58.110) |
(71.433) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(78.34) |
(279.91) |
(274.87) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(76.18) |
(275.29) |
(263.70) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(105.47) |
(118.08) |
(152.91) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.59 |
1.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(0.93) |
(1.01) |
(1.06) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.34 |
1.16 |
1.02 |
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 |
196.856 |
196.856 |
196.856 |
|
Reserves & Surplus |
(252.893) |
(333.388) |
(381.439) |
|
Net
worth |
(56.037) |
(136.532) |
(184.583) |
|
|
|
|
|
|
long-term borrowings |
59.480 |
138.080 |
113.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
59.480 |
138.080 |
113.000 |
|
Debt/Equity
ratio |
(1.061) |
(1.011) |
(0.612) |
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 |
26.971 |
28.758 |
61.339 |
|
|
|
6.626 |
113.294 |
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 |
26.971 |
28.758 |
61.339 |
|
Profit |
(74.136) |
(80.496) |
(48.051) |
|
|
(274.87)% |
(279.91)% |
(78.34)% |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS:
The Company was promoted, as a wholly-owned subsidiary of Tata Industries Limited to leverage supply chain integration opportunities in the aerospace and defence sectors in India. The Company addresses two key market opportunities, viz. sourcing requirements as a result of offset obligations of global original equipment manufacturers (OEMs), and low cost sourcing opportunities for global aerospace and defence OEMs. The Company’s service portfolio includes identification of competent Indian manufacturing sources, establishing quality process as per OEM requirements, overseeing and monitoring contracts, and undertaking contractual responsibility of the programs.
BUSINESS AND OUTLOOK:
The Company acquired AS9100C certification both for services & sub - contract management for supply of products during FY 2012-13. As the offset opportunity is driven by defence equipment acquisitions by the Government of India, the Company has made efforts to build a sustainable order book by identifying and engaging with foreign OEMs in the aerospace and defence sector . Amongst its many customers, the Company has developed relations in particular with global OEMs in the rotorcraft, and aero engines segments
In respect of the low cost sourcing opportunity, the Company has an ongoing contract with a large overseas OEM. As part of this contract, the Company acts as a supply chain integrator in India, and the Company expects that the growing relationship will enable greater revenue, opportunities in the future.
The Company is also engaged with Indian Defense Public Sector Undertakings (DPSUs), and has created supply solutions for small, but critical supply needs covering small machined parts and toolings. These solutions are for important programs that the DPSUs is discharging for the Indian Defence forces. Disclosures under Section 217 of the Companies Act, 1956:
The Company earned Rs.51.307 Million (Previous Year: Rs. 24.159 Million income in foreign currency during the current year and incurred expenditure in foreign currency amounting to Rs. 0.295 Million (Previous Year: Rs. 0.535 Million) on business related travel overseas and capital goods during the year.
There are no other particulars to furnish pursuant to the requirements under the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988.
The particulars of employees, as required to be disclosed in accordance with the provisions of Section 217(2A) of the Companies Act, 1956 and the Companies (Particulars of Employees) Rules, 1975, are given in the statement annexed hereto and form part of this report.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
113.000 |
138.080 |
|
|
|
|
|
Total |
113.000 |
138.080 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Computer
- Office equipment
- Vehicles
- Furniture and
- Fixtures
- Office equipment
WEBSITE DETAILS
NEWS
TATA GROUP'S NEW HYBRID
ONLINE RETAIL VENTURE TO TAP BEST OF ONLINE AND OFFLINE
Group firm Tata Industrial Services, which changed its name to Tata Unistore Limited will spearhead a the venture
19.06.2015
KOLKATA/MUMBAI: The Tata Group will launch the country's first hybrid online retailing venture, a combination of a portal that will list brands and handle payment transactions and brick-and-mortar stores that will set prices, deliver products and provide customer support.
Group firm Tata Industrial Services, which changed its name to Tata Unistore Limited, will spearhead the venture that's likely to be piloted before the Diwali shopping season. The venture's brand name is yet to be finalised.
The salt-to-software conglomerate is in advanced talks with top brands across categories to complete the integration with their offline stores, with major focus on smartphones, consumer electronics and fashion, which account for 80% of e-commerce sales in India, said five senior executives, two of whom are attached with the group. Even in rural areas, orders will be dispatched by designated offline stores.
"The Tata e-commerce venture will act as a frontline sales hook for offline stores and will play on customer experience, assured aftersales support and wide reach. It is expected to drive sales of high-ticket items whose online sales are still limited," one of the Tata group executives said.
A Tata Group spokesperson said, "Indeed e-commerce is of interest to the Tata Group. We will share more information at the appropriate moment."
Unlike online entities Flipkart and Amazon, which push sales through deep-discounts, Tata's venture will not indulge in price wars. Discounts will be decided by the brands and won't vary much from their in-store promotions. Unistore officials have informed brands they should not sell below the price at which they sell to retailers.
"The integration of the brand's offline stores will mean there will be no conflict among the trade partners at all," the Tata executive said.
"Online with an offline plug does make a difference and their model looks sustainable and legitimate," said Devangshu Dutta, chief executive officer at retail consultancy Third Eyesight. "Discounting isn't a sustainable model and many players have started to realise the pitfalls of attracting consumers just through pricing."
The venture will ensure complete warranty and after-sales support for categories such as smartphones, televisions and appliances, a stark difference from products sold online that don't always come with such benefits. For categories like apparel, customers will be able to exchange the product, pick the correct size or return it at the nearest offline store.
While Tata Unistore officials have tried cutting exclusive deals with leading brands such as Apple, Samsung, Sony and LG, it remains iffy. "Instead, the brands are ready to offer exclusive models," an official said.
The country's e-commerce market is expected to quadruple to $60-70 billion in the next five years, according to the Boston Consulting Group and the Retailers Association of India, boosted by increasing Internet access through affordable smartphones and efforts by online retailers to develop payment channels such as cash on delivery, mobile wallets and streamlined logistics infrastructure.
Brick-and-mortar companies including Future Group, Reliance and the Aditya Birla Group are planning online retail initiatives across product categories to take advantage of the increasing adoption of e-commerce.
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 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.65.25 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.