MIRA INFORM REPORT
|
Report No. : |
340213 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
NATURES BASKET LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 4, Pirojshanagar, 3rd Floor, Eastern Express Highway,
Vikhroli (East), Mumbai-400079, Maharashtra |
|
Tel. No.: |
91-22-25197788 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.05.2008 |
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Com. Reg. No.: |
11-182816 |
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Capital
Investment / Paid-up Capital : |
Rs. 1060.800 Million |
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CIN No.: [Company Identification
No.] |
U15310MH2008PLC182816 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN16232G |
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PAN No.: [Permanent Account No.] |
AACCN7803K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the gourmet food retailing
business. |
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No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Godrej Industries Limited, it is
incorporated during the year 2008. It has a moderate track record. For the financial year 2014, the company has moderate operational
activity marked by huge losses incurred by the company. Further, the company possesses modest financial risk profile along with
huge borrowings taken by the company and unfavourable gap between trade
payables and receivables. However, trade relations are fair. Payments terms are slow but
correct. In view of good holding company, it 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
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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-22-25197788)
LOCATIONS
|
Registered / Head Office : |
Gate No. 4, Pirojshanagar, 3rd Floor, Eastern Express Highway,
Vikhroli (East), Mumbai-400079, Maharashtra, India |
|
Tel. No.: |
91-22-25197788 |
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Fax No.: |
91-22-25197240 |
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E-Mail : |
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Website : |
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Regional Office : |
Located at: · Mumbai · Bangalore · Delhi · Pune ·
Hyderabad |
DIRECTORS
AS ON 20.08.2014
|
Name : |
Mrs. Tanya Arvind Dubash |
|
Designation : |
Director |
|
Address : |
Hasman Bunglow, 89B Bhulabhai Desai Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.03.2009 |
|
PAN No.: |
AHCPD2973J |
|
DIN No.: |
00026028 |
|
|
|
|
Name : |
Mr. Arumugam Mahendran |
|
Designation : |
Director |
|
Address : |
5, Bayview Apartments, Worli Seaface,
Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1955 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.03.2009 |
|
PAN No.: |
AAHPM4357R |
|
DIN No.: |
00242423 |
|
|
|
|
Name : |
Mr. Mohit Khatter |
|
Designation : |
Managing Director |
|
Address : |
B-1303, 13th Floor, Avalon Building, Hiranandani Garden, Powai, Mumbai- 400076, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.2009 |
|
PAN No.: |
ABHPK0526D |
|
Voter ID No.: |
CPJ0982280 |
|
DIN No.: |
02673201 |
KEY EXECUTIVES
|
Name : |
Mr. Shekhar Krishna Iyer |
|
Designation : |
Chief Financial Officer |
|
Address : |
Flat No 201, Grace B Wing, Vasant Oscar,
LBS Marg, Mulund (West), Mumbai- 400080, Maharashtra, India |
|
Date of Birth/Age : |
20.12.1968 |
|
Date of Appointment : |
14.07.2014 |
|
PAN No.: |
AABPI8040D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.08.2014
|
Names of Shareholders |
No. of Shares |
|
Godrej Industries Limited, India |
126579994 |
|
Godrej Industries Limited, India Jointly with A. B. Godrej |
1 |
|
Godrej Industries Limited, India Jointly with N. B. Godrej |
1 |
|
Godrej Industries Limited, India Jointly with T. A. Dubash |
1 |
|
Godrej Industries Limited, India Jointly with Clement Pinto |
1 |
|
Godrej Industries Limited, India Jointly with V. Srinivasan |
1 |
|
Godrej Industries Limited, India Jointly with N. S. Nabar |
1 |
|
Total |
126580000 |
AS ON 22.07.2015
|
Names of Allottee |
No. of Shares |
|
Godrej Industries Limited, India |
16260000 |
|
Total |
|
AS ON 20.08.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the gourmet food retailing
business. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
·
The Saraswat Co-Operative Bank Limited SME Vikhroli Branch,
Prabhat Bhavan, LBS Marg, Vikhroli (West), Mumbai - 400079, Maharashtra,
India ·
HDFC Bank Limited HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
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Facilities : |
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Financial Institution : |
Tata Capital Financial Services Limited, One Forbes, DR.
V. B. Gandhi Marg, Fort, Mumbai-400001, Maharashtra, India |
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Auditors : |
|
|
Name : |
Kalayaniwala
and Mistry Chartered Accountants |
|
Address : |
Kalyaniwalla and Mistry,
Kalpataru Heritage,127, M. G. Road, Mumbai-400023, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFK7554R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Godrej
Industries Limited, India (L24241MH1988PLC097781) |
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|
Ultimate Holding Company: |
Godrej
and Boyce Manufacturing Company Limited, India |
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|
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|
Fellow Subsidiary Companies : |
·
Godrej Agrovet Limited, India
(U15410MH1991PLC135359) ·
Godrej Consumer Products Limited, India
(L24246MH2000PLC129806) ·
Godrej Properties Limited, India
(L74120MH1985PLC035308) ·
Ensemble Holdings and Finance Limited,
India (U67120MH1992PLC065457) ·
Godrej International Limited ·
Godrej International Trading and Investment
Private Limited, Singapore ·
Swadehi Detergents Limited, India
(U24243MH1974PLC017488) ·
Godrej Infotech Limited, India
(U32100MH1997PLC106135) ·
Wadala Commodities Limited, India
(L15142MP1984PLC002382) ·
Godrej (Malaysia) Sdn. Bhd, Malaysia ·
Godrej (Singapore) Pte Limited ·
Veromat IC International BV ·
Busbar Systems (India) Limited, India
(U31200KA2009PLC049167) ·
Mercury Manufacturing Company Limited,
India (U28112TN1992PLC023798) |
CAPITAL STRUCTURE
AFTER 20.08.2014
Authorised Capital : Rs. 2350.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1927.100 Million
AS ON 20.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
155000000 |
Equity Shares |
Rs. 10/- each |
Rs.1550.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
126580000 |
Equity Shares |
Rs. 10/- each |
Rs.1265.800
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
110000000 |
Equity Shares |
Rs. 10/- each |
Rs.1100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
106080000 |
Equity Shares |
Rs. 10/- each |
Rs.1060.800
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 |
1060.800 |
725.500 |
434.500 |
|
(b) Reserves & Surplus |
(1020.530) |
(707.294) |
(429.875) |
|
(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) |
40.270 |
18.206 |
4.625 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
367.313 |
266.147 |
135.822 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
1.032 |
1.028 |
0.411 |
|
Total
Non-current Liabilities (3) |
368.345 |
267.175 |
136.233 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
52.000 |
65.000 |
65.000 |
|
(b)
Trade payables |
270.948 |
181.235 |
117.069 |
|
(c)
Other current liabilities |
146.793 |
97.219 |
71.571 |
|
(d)
Short-term provisions |
0.176 |
0.205 |
0.133 |
|
Total
Current Liabilities (4) |
469.917 |
343.659 |
253.773 |
|
|
|
|
|
|
TOTAL |
878.532 |
629.040 |
394.631 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
385.320 |
280.883 |
149.908 |
|
(ii)
Intangible Assets |
14.101 |
12.319 |
4.610 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
4.279 |
|
(d) Long-term Loan
and Advances |
102.810 |
73.732 |
91.819 |
|
(e)
Other Non-current assets |
3.069 |
2.962 |
2.523 |
|
Total
Non-Current Assets |
505.325 |
369.921 |
253.164 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
162.220 |
125.601 |
78.065 |
|
(c)
Trade receivables |
24.402 |
14.665 |
13.358 |
|
(d)
Cash and cash equivalents |
85.045 |
80.512 |
32.078 |
|
(e)
Short-term loans and advances |
101.540 |
38.341 |
17.966 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
373.207 |
259.119 |
141.467 |
|
|
|
|
|
|
TOTAL |
878.532 |
629.040 |
394.631 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1735.974 |
1273.868 |
820.988 |
|
|
|
Other Income |
7.599 |
6.516 |
1.479 |
|
|
|
TOTAL (A) |
1743.573 |
1280.384 |
822.467 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1378.615 |
1038.657 |
677.610 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(36.619) |
(48.027) |
(37.752) |
|
|
|
Employees benefits expense |
135.851 |
104.052 |
72.265 |
|
|
|
Other expenses |
478.920 |
387.029 |
249.894 |
|
|
|
TOTAL (B) |
1956.767 |
1481.711 |
962.017 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(213.194) |
(201.327) |
(139.550) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.359 |
34.189 |
18.792 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
(260.553) |
(235.516) |
(158.342) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
52.683 |
37.624 |
23.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(313.236) |
(273.140) |
(181.432) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
4.279 |
0.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(313.236) |
(277.419) |
(181.845) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(707.294) |
(429.875) |
(248.031) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1020.530) |
(707.294) |
(429.876) |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(3.49) |
(5.03) |
(4.19) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
37.968 |
18.175 |
10.008 |
|
|
|
|
|
|
Cash Generated from Operations |
(223.730) |
(161.601) |
(164.543) |
|
|
|
|
|
|
Net Cash Flow from Operating Activities |
(225.575) |
(162.777) |
(165.431) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(18.04) |
(21.78) |
(22.15) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(12.28) |
(15.80) |
(17.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(35.66) |
(43.42) |
(46.48) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(7.78) |
(15.00) |
(39.23) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
11.36 |
19.19 |
45.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79 |
0.75 |
0.56 |
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 |
434.500 |
725.500 |
1060.800 |
|
Reserves & Surplus |
(429.875) |
(707.294) |
(1020.530) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4.625 |
18.206 |
40.270 |
|
|
|
|
|
|
Long-term borrowings |
135.822 |
266.147 |
367.313 |
|
Short term borrowings |
65.000 |
65.000 |
52.000 |
|
Current Maturities of
Long-Term Debts |
10.008 |
18.175 |
37.968 |
|
Total
borrowings |
210.830 |
349.322 |
457.281 |
|
Debt/Equity
ratio |
45.585 |
19.187 |
11.355 |
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 |
820.988 |
1273.868 |
1735.974 |
|
|
|
55.163 |
36.276 |
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 |
820.988 |
1273.868 |
1735.974 |
|
Profit/ (Loss) |
(181.845) |
(277.419) |
(313.236) |
|
|
(22.15%) |
(21.78%) |
(18.04%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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 |
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 |
COMPANY
OVERVIEW:
Subject engages in the gourmet food retailing business
in India. The company’s stores offer breakfast items, including oats, muesli,
cornflakes, bran flakes, and granola bars; carbonated beverages, juices,
squashes and syrups, water, tea and coffee, and sports and health drinks;
bakery products comprising breads, muffins, dry cakes, croissants, and
patisseries; condiments, cooking pastes, dry grocery, flours and grains, ghee,
oils, and ready to cook mixes; and Indian and imported fruits and vegetables.
Its stores also offer fresh poultry, lamb, sea food, cold cuts, sausages,
pates, caviar, and frozen non veg foods; chocolates, confectionery, biscuits,
cookies, crackers, dry fruits, and ice cream; cooking aids, such as wine
accessories, sushi mats, cutting and chopping knives, and nic-nacs; antipasti,
cooking and serving sauces, dessert mixes and sauces, and dips and spreads;
red, white, rose, and sparkling wines, as well as champagne, fortified wine,
beer, ale, and craft beer; soft, hard, semi hard, blue, fresh, and flavored
cheese; and meat and cheese platters. In addition, the company sells its
products through Internet.
REVIEW OF OPERATIONS AND
FUTURE OUTLOOK:
Natures Basket continued to
grow well. It extended its footprint from 27 stores in 12-13 to 33 stores by
the end of FY 13-14. It also replaced its old flagship store in Delhi with a
larger and more conveniently located store besides refreshing some of its
earlier stores in Mumbai.
The business clocked a
robust growth of nearly 36% and achieved Net income of 1743.500 Million (Gross
income of nearly 1860.000 Million). In keeping with emerging socio-economic
trends of growing health concerns, it took positive steps to bolster its in-store
health section with a wider assortment.
The look, feel, ambience as
well as in-store consumer experience was maintained at the highest levels
thereby ensuring that the business continues to be seen as aspirational and
connects easily with the very discerning consumers.
Greater focus on
strengthening the gifting portfolio both in terms of dedicated presence in
stores as well as creation of a distinctive and appealing gifting portfolio
ensured that sales through gifting grew at a very healthy clip of 82% over last
year.
The business also undertook
several initiatives to grow its margins. These included self import of
preselected products as well as development and launch of its own private label
portfolio of products. The business introduced 2 distinct brands exclusif and
Healthy Alternatives to introduce its own range of indulgence and health
products respectively. About 150 SKUs introduced so far under these 2 labels
have been well received by consumers and holds out great hope for FY 14-15.
Natures Basket also focused
on strengthening its loyalty platform and online sales operation with both
growing at more than 100% over the previous years. It sharpened its marketing
mix to target and connect with consumers on social platforms. This approach
paid off as it was able to create buzz and relevance at comparatively lower
costs.
The
business was rewarded across retail platforms with wins at the Coca Cola Golden
Spoon awards, India retail Forum, Asia Retail Congress and several others as
well.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits |
52.000 |
65.000 |
|
Total |
52.000 |
65.000 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10511474 |
18/07/2014 |
400,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
C13972690 |
|
2 |
10475869 |
15/01/2014 |
20,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD- 380006,
GUJARAT, IN |
B95608717 |
|
3 |
10442918 |
31/07/2013 |
90,000,000.00 |
AXIS BANK LIMITED |
R. R. REALITY,
L.B.S MARG, BHANDUP (WEST), MUMBAI- 400078, |
B82058835 |
FIXED ASSETS:
Tangible Assets
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
· Leasehold Improvements
Intangible Assets
·
Goodwill
·
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. 66.61 |
|
|
1 |
Rs. 102.30 |
|
Euro |
1 |
Rs. 74.61 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
34 |
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.