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|
MIRA INFORM REPORT
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Report No. : |
502123 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE BRANDS LIMITED |
|
|
|
|
Registered
Office : |
Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road,
Jogeshwari (East), Mumbai – 400060, Maharashtra |
|
Tel. No.: |
91-22-66442200 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
22.11.2006 |
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|
|
|
Com. Reg. No.: |
11-165722 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 218.975 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2006PLC165722 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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TIN /CST No.: |
27111051610 |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCF0462H |
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|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCF0462H1ZW |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Future Ideas Company Limited”. The company was incorporated in the year 2006. For the financial year 2017, the company has achieved 23.57% growth in its revenue as compared to previous year revenue and has reported average profit margin of 0.60%. The moderate financial profile of the company is marked by low reserve base as compared to its capital along with poor debt coverage indicators due to high debt balance sheet profile. However, rating takes into consideration strong financial and managerial support that the company receives from its holding entity backed by its well experienced management team. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long-term bank facilities : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
08.03.2018 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 07.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Sanjay Rathi |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9322653564 |
|
Date: |
05.04.2018 |
Management non-cooperative (Tel
No.:91-22-66442200)
LOCATIONS
|
Registered Office : |
Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India |
|
Tel. No.: |
91-22-66442200 |
|
Mobile No.: |
91-9322653564 (Mr. Sanjay Rathi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Santosh Desai |
|
Designation : |
Managing Director |
|
Address : |
AR 705, The Aralias Sector 42, DLF Golf Link Road, DLF Phase-5, Gurugram 122009 , Haryana, India |
|
Date of Birth/Age : |
24.01.1963 |
|
Date of Appointment : |
29.01.2007 |
|
PAN No.: |
AAFPD6722M |
|
DIN No.: |
01237902 |
|
|
|
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
A-407/408,A-Wing, Oberoi Splendor, Jogeshwari Vikhroli Link Road,
Andheri (East), Mumbai - 400060, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1966 |
|
Date of Appointment : |
22.11.2006 |
|
DIN No.: |
00036303 |
|
|
|
|
Name : |
Ms. Ashni Biyani Kishore |
|
Designation : |
Director |
|
Address : |
406, Jeevan Vihar, Manav Mandir Road, Mumbai - 400006, Maharashtra,
India |
|
Date of Birth/Age : |
25.12.1984 |
|
Date of Appointment : |
14.08.2010 |
|
DIN No.: |
00058775 |
|
|
|
|
Name : |
Ravie Manoharlal Lalpurria |
|
Designation : |
Director |
|
Address : |
701, Shakti Building, Mistry Complex, Near Om Nagar, J.B. Nagar,
Andheri (East), Mumbai - 400059, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1964 |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
02707789 |
|
|
|
|
Name : |
Mr. Abhishek Taparia |
|
Designation : |
Director |
|
Address : |
A/203, 2nd Floor, A Wing, Nirman Residency CHS, Rajmata Jijabai Road, Pump
House, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1983 |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
06974437 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Future Ideas Company Limited, India |
|
19472494 |
|
Surplus Finvest Private Limited, India |
|
2000000 |
|
Future Corporate Resources Limited, India |
|
250000 |
|
C P Toshniwal, Ashni Biyani, Trustees – Future Brands Employees Stock Option Trust |
|
175000 |
|
Future Ideas Company Limited jointly with Sanjay Rathi |
|
1 |
|
Future Ideas Company Limited jointly with Chandra Prakash Toshniwal |
|
1 |
|
Future Ideas Company Limited jointly with Rajesh Kalyani |
|
1 |
|
Future Ideas Company Limited jointly with Pankaj Patel |
|
1 |
|
Future Ideas Company Limited jointly with Arun Bhandari |
|
1 |
|
Future Ideas Company Limited jointly with Vimal Dhruve |
|
1 |
|
Total |
|
21897500 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
88.93 |
|
Public/Other than promoters (Body corporate) |
10.27 |
|
Public/Other than promoters (Others-Trust) |
0.80 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products/
Services : |
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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 : |
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Facilities : |
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Finance Institution: |
L & T Finance Limited, L&T House, Ballard Estate,
Mumbai-400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Sapna Lakhotia and Company Chartered Accountants |
|
Address : |
D 80 Top Floor, Mansarovar Garden, New Delhi – 110015, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABDPK7300B |
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|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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Holding Company : |
CIN No.:U65900MH2006PLC159526 |
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Subsidiary
Companies : |
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|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
As on 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
111500000 |
Equity Shares |
INR 10/- each |
INR 1115.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21897500 |
Equity Shares |
INR 10/- each |
INR 218.975
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
218.975 |
218.975 |
218.975 |
|
(b) Reserves and Surplus |
183.165 |
229.614 |
208.246 |
|
(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) |
402.140 |
448.589 |
427.221 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5927.958 |
6108.549 |
3713.703 |
|
(b) Deferred tax liabilities (Net) |
98.443 |
75.270 |
65.548 |
|
(c) Other long-term
liabilities |
1500.000 |
1500.000 |
1500.000 |
|
(d) long-term
provisions |
10.026 |
8.622 |
8.839 |
|
Total Non-current
Liabilities (3) |
7536.427 |
7692.441 |
5288.090 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
75.127 |
93.532 |
87.416 |
|
(b) Trade
payables |
114.018 |
57.185 |
147.754 |
|
(c) Other
current liabilities |
1251.220 |
622.392 |
413.988 |
|
(d) Short-term
provisions |
0.226 |
1.617 |
1.725 |
|
Total Current
Liabilities (4) |
1440.591 |
774.726 |
650.883 |
|
|
|
|
|
|
TOTAL |
9379.158 |
8915.756 |
6366.194 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
347.092 |
449.028 |
4.187 |
|
(ii)
Intangible Assets |
1491.048 |
1718.003 |
1913.978 |
|
(iii) Tangible assets
capital work-in-progress |
1832.610 |
532.922 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
233.616 |
767.216 |
767.216 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
556.054 |
663.533 |
704.492 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4460.420 |
4130.702 |
3389.873 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
450.000 |
|
(c) Trade
receivables |
797.556 |
605.416 |
239.054 |
|
(d) Cash and
bank balances |
3.996 |
1.669 |
0.429 |
|
(e)
Short-term loans and advances |
4117.186 |
4177.969 |
2286.838 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4918.738 |
4785.054 |
2976.321 |
|
|
|
|
|
|
TOTAL |
9379.158 |
8915.756 |
6366.194 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
2106.961 |
1705.085 |
1269.703 |
|
|
Other Income |
35.760 |
17.490 |
0.084 |
|
|
TOTAL |
2142.721 |
1722.575 |
1269.787 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
610.000 |
393.616 |
436.464 |
|
|
Employee benefit expense |
134.679 |
112.860 |
120.663 |
|
|
Other expenses |
215.898 |
306.454 |
146.016 |
|
|
TOTAL |
960.577 |
812.930 |
703.143 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1182.144 |
909.645 |
566.644 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
709.663 |
486.452 |
367.164 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
472.481 |
423.193 |
199.480 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
436.593 |
392.103 |
177.379 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
35.888 |
31.090 |
22.101 |
|
|
|
|
|
|
|
Less |
TAX |
23.173 |
9.722 |
169.070 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
12.715 |
21.368 |
(146.969) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.58 |
0.98 |
(6.71) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1218.750 |
607.500 |
388.125 |
|
Net cash flows from (used in) operations |
1233.828 |
(958.777) |
34.267 |
|
Net cash flows from (used in) operating activities |
1233.828 |
(958.777) |
29.845 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
138.16 |
129.60 |
68.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.64 |
2.82 |
5.31 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
68.22 |
53.03 |
123.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
1.26 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.32 |
0.34 |
0.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.92 |
0.84 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
17.96 |
15.18 |
9.81 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.58 |
1.73 |
1.52 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
9.13 |
6.02 |
4.49 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.67 |
1.87 |
1.54 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.60 |
1.25 |
(11.58) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.14 |
0.24 |
(2.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.16 |
4.76 |
(34.40) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.41 |
6.18 |
4.57 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
3.41 |
6.18 |
3.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.04 |
0.05 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
32.98 |
31.10 |
19.13 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.41 |
6.18 |
4.57 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
218.975 |
218.975 |
218.975 |
|
Reserves & Surplus |
208.246 |
229.614 |
183.165 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
427.221 |
448.589 |
402.140 |
|
|
|
|
|
|
Long-term borrowings |
3713.703 |
6108.549 |
5927.958 |
|
Short term borrowings |
87.416 |
93.532 |
75.127 |
|
Current maturities of
long-term debts |
388.125 |
607.500 |
1218.750 |
|
Total
borrowings |
4189.244 |
6809.581 |
7221.835 |
|
Debt/Equity
ratio |
9.806 |
15.180 |
17.959 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1269.703 |
1705.085 |
2106.961 |
|
|
|
34.290 |
23.569 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
1269.703 |
1705.085 |
2106.961 |
|
Profit/(Loss) |
(146.969) |
21.368 |
12.715 |
|
|
(11.58)% |
1.25% |
0.60% |
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 |
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 |
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 |
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 |
Yes |
|
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 |
BUSINESS OUTLOOK
The Company is involved in the business of creating, developing, managing, acquiring and dealing in consumer related brands and IPRs (Intellectual Property Rights). Its expertise lies in Brand Consulting, projects requiring deep cultural Insights and facilitating Brand Creation and Management for clients across sectors. It offers end-to-end culture-based solutions for brands and organizations.
The Company believe that brands need to evolve through a higher order of thinking. The Company focus is on analysing the consumer and assesses what the Brand means to consumer from its manifestations and actions.
Being the part of Future Group, The Company has led the activity through which the Future Group has built an attractive portfolio of some of the fastest growing consumer brands in India. The Company has created and will continue to create, develop, grow and protect the brand asset value of its trademarks across apparels, FMCG, household durables and general merchandise categories across Future Group formats.
REVIEW OF OPERATIONS
During the year, the Company had recorded a total income of INR.2142.721 million as against INR 1722.575 million during the year ended 31 March 2016 and incurred profit before Tax of INR 35.888 million as against profit before tax of INR 31.090 million for the year ended 31 March 2016.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures banks |
1695.500 |
657.000 |
|
Other loans and advances |
891.559 |
891.559 |
|
Short-term
Borrowings |
|
|
|
Other loans and advances |
0.000 |
15.000 |
|
|
2587.059 |
1563.559 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of satisfaction |
Amount |
Address |
|
1 |
C66027343 |
10594658 |
IFCI LIMITED |
11/09/2015 |
- |
- |
3000000000.0 |
IFCI TOWER 61 NEHRU PLACE NEW DELHI 110019 INDIA |
|
2 |
C34575696 |
10532796 |
IFCI LIMITED |
24/09/2014 |
- |
- |
1750000000.0 |
IFCI TOWER, 61, NEHRU PLACE, NEW DELHI- 110019 INDIA |
|
3 |
B84277284 |
10394294 |
Axis Trustee Services Limited |
24/11/2012 |
24/07/2013 |
- |
2800000000.0 |
AXIS HOUSE, 2ND FLOOR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI MAHARASHTRA 400025 INDIA |
|
4 |
G76580547 |
10136569 |
L & T FINANCE LIMITED |
26/12/2008 |
- |
12/02/2018 |
100000000.0 |
L&T HOUSE, BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claims Against the Company Not Acknowledged as Debts |
25.000 |
25.000 |
|
Guarantees |
3500.000 |
3500.000 |
FIXED ASSETS
- Land
- Buildings
- Furniture and fixtures
- Office equipment
- Leasehold improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.06 |
|
UK Pound |
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.