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|
MIRA INFORM REPORT
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Report No. : |
490101 |
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Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CELIO FUTURE FASHION PRIVATE LIMITED (w.e.f. 12.05.2015) |
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Formerly Known
As : |
CELIO FUTURE FASHION LIMITED |
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Registered
Office : |
Unit No. 301 and 302, 3rd Floor, A Wing, Lotus Corporate
Park, Off. Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra |
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Tel. No.: |
91-22-42259500 |
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Country : |
India |
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Financials (as on)
: |
31.03.2017 |
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Date of
Incorporation : |
05.05.2008 |
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Com. Reg. No.: |
11-181891 |
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Capital
Investment / Paid-up Capital : |
INR 59.751
Million |
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CIN No.: [Company Identification
No.] |
U74994MH2008PTC181891 |
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IEC No.: |
0308034449 |
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GST No.: |
27AADCC3844J1ZK |
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TIN No.: |
27180674096 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCC3844J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Retail Sale of Readymade Garments, Hosiery Goods, Other Articles of Clothing and Clothing Accessories such as Gloves, Ties, Braces, etc. (Registered Activity) |
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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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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 wholly owned subsidiary of “Celio International, France
and was incorporated in the year 2008. The company operates in the single brand retailing of men’s wear and
accessories. The company has been incurring losses since last two financial years. The company has registered huge accumulated losses which has eroded
its entire networth. However, rating weakness is partially offset by strong financial and
managerial support that company receives from its holding entity backed by
its well experienced management team. Trade relations are reported as fair. Payments are slow but correct. In view of the aforesaid, 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
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
31-03-2016.
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 07.02.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-22-42259500]
[91-7718815752 not reachable]
LOCATIONS
|
Registered Office/ Warehouse : |
Unit No. 301 and 302, 3rd Floor, A Wing, Lotus Corporate
Park, Off. Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
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Tel. No.: |
91-22-42259500 |
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Fax No.: |
91-22-30842201 |
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E-Mail : |
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Branch Offices : |
Located At :
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Overseas Offices : |
Located At :
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DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Rakesh Biyani |
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Designation : |
Director |
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Address : |
Flat No. 1903,19th Floor, B Wing, Vivarea Building Sane Guruji Marg, Jacob Circle, Mumbai-400011, Maharashtra, India |
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Date of Birth/Age : |
05.04.1972 |
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Qualification : |
MBA Graduate |
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Date of Appointment : |
05.05.2008 |
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PAN No.: |
AAEPB3651L |
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DIN No.: |
00005806 |
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Name : |
Simon David Julien Teboul |
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Designation : |
Director |
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Address : |
16, Rue Mathieu Stillati Marseille 13003 France |
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Date of Birth/Age : |
10.07.1978 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.11.2016 |
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DIN No.: |
07658773 |
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|
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Name : |
Mr. Lalit Mathur |
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Designation : |
Director |
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Address : |
K-1/125, Lower Ground Floor, Chitranjan Park, New Delhi-110019, India |
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Date of Birth/Age : |
06.09.1974 |
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Qualification : |
LLB Graduate |
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Date of Appointment : |
05.05.2008 |
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PAN No.: |
ABCPM3418K |
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DIN No.: |
01444758 |
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Name : |
Pierre R G Parlongue |
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Designation : |
Director |
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Address : |
Avenue Des, Ramiers 35, Rixensart 1330, Belgium |
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Date of Birth/Age : |
07.06.1961 |
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Qualification : |
Graduate |
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Date of Appointment : |
26.09.2008 |
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DIN No.: |
02337302 |
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Name : |
Guillaume Yves Marie Joseph Motte |
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Designation : |
Director |
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Address : |
12b, Rue Du Belvedere Saint Germain Enclave 78100 France |
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Date of Birth/Age : |
07.01.1962 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.11.2016 |
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DIN No.: |
07658754 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Celio International S.A. |
5787887 |
96.87 |
|
FLFL Lifestyle Brands Limited |
187254 |
3.13 |
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|
|
|
|
Total |
5975141 |
100.00 |
AS ON: 06.04.2017
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Names of Allottee |
|
No. of Shares |
|
Celio International S.A., Belgium |
|
777202 |
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Total |
|
777202 |
AS ON: 04.07.2017
|
Names of Allottee |
|
No. of Shares |
|
Celio International S.A., Belgium |
|
1424870 |
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Total |
|
1424870 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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|
Promoters – Body Corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Retail Sale of Readymade Garments, Hosiery Goods, Other Articles of Clothing and Clothing Accessories such as Gloves, Ties, Braces, etc. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
“CELIO” |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
· Societe Generale Maker Chamber IV, 13th Floor, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
---- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
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Address : |
Maker Towers, E Cuffe Parade, Mumbai-400005, Maharashtra, India |
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PAN No.: |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Celio International S.A. |
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Joint venturer : |
· Future Lifestyle Fashions Limited, India [L52100MH2012PLC231654] [upto March 28, 2017] · FLFL Lifestyle Brands Limited (w.e.f. March 29, 2017) |
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Fellow Subsidiary
Company : |
Celio Sourcing Limited |
CAPITAL STRUCTURE
AFTER: 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8177213 |
Equity Shares |
INR 10/- each |
INR 81.772
Million |
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AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5975141 |
Equity Shares |
INR 10/- each |
INR 59.751
Million |
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|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 [12 Months] |
31.03.2016 [14 Months] |
31.01.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
59.751 |
53.501 |
47.025 |
|
(b) Reserves and Surplus |
(351.380) |
(297.645) |
(234.348) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
300.000 |
241.250 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
8.371 |
(2.894) |
(187.323) |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
4.375 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
1.500 |
4.600 |
0.000 |
|
(d) long-term
provisions |
7.903 |
4.696 |
6.129 |
|
Total Non-current
Liabilities (3) |
9.403 |
9.296 |
10.504 |
|
|
|
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|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
365.651 |
470.000 |
560.000 |
|
(b) Trade
payables |
154.034 |
202.279 |
250.968 |
|
(c) Other
current liabilities |
16.488 |
15.354 |
48.910 |
|
(d) Short-term
provisions |
115.498 |
154.510 |
100.222 |
|
Total Current
Liabilities (4) |
651.671 |
842.143 |
960.100 |
|
|
|
|
|
|
TOTAL |
669.445 |
848.545 |
783.281 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
111.397 |
136.474 |
167.458 |
|
(ii)
Intangible Assets |
1.129 |
6.143 |
9.708 |
|
(iii) Tangible assets
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
86.599 |
79.461 |
91.633 |
|
(e) Other Non-current
assets |
0.548 |
0.529 |
0.240 |
|
Total Non-Current
Assets |
199.673 |
222.607 |
269.039 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
169.956 |
213.725 |
255.373 |
|
(c) Trade
receivables |
286.958 |
366.081 |
237.477 |
|
(d) Cash and
bank balances |
6.042 |
33.960 |
14.203 |
|
(e)
Short-term loans and advances |
6.801 |
12.166 |
7.082 |
|
(f) Other
current assets |
0.015 |
0.006 |
0.107 |
|
Total
Current Assets |
469.772 |
625.938 |
514.242 |
|
|
|
|
|
|
TOTAL |
669.445 |
848.545 |
783.281 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [14 Months] |
31.01.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations [Net] |
1062.457 |
1255.010 |
929.872 |
|
|
Other Income |
7.944 |
5.791 |
8.803 |
|
|
TOTAL |
1070.401 |
1260.801 |
938.675 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
631.650 |
773.331 |
656.773 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
43.452 |
42.306 |
(99.274) |
|
|
Employee benefit expense |
197.226 |
200.093 |
193.236 |
|
|
Other expenses |
397.395 |
429.738 |
448.218 |
|
|
TOTAL |
1269.723 |
1445.468 |
1198.953 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(199.322) |
(184.667) |
(260.278) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
47.253 |
67.940 |
41.528 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(246.575) |
(252.607) |
(301.806) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
42.160 |
54.214 |
54.205 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(288.735) |
(306.821) |
(356.011) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(288.735) |
(306.821) |
(356.011) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(49.07) |
(60.07) |
(75.71) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 [12 Months] |
31.03.2016 [14 Months] |
31.01.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
30.000 |
|
|
|
|
|
|
Net used in operations |
(145.549) |
(245.384) |
(402.051) |
|
|
|
|
|
|
Net cash flows used in operating activities |
(145.549) |
(245.384) |
(402.051) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [14 Months] |
31.01.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
98.58 |
106.47 |
93.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.70 |
3.43 |
3.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
89.01 |
95.47 |
139.47 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(1.17) |
(0.86) |
(1.02) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(1.77) |
(1.29) |
(1.47) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [14 Months] |
31.01.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.97 |
0.99 |
1.27 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
43.68 |
(162.40) |
(3.17) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
77.85 |
(291.00) |
(5.13) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
13.44 |
(49.28) |
(0.95) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(4.22) |
(2.72) |
(6.27) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 [12 Months] |
31.03.2016 [14 Months] |
31.01.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(27.18) |
(24.45) |
(38.29) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(43.13) |
(36.16) |
(45.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(3449.23) |
10601.97 |
190.05 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [14 Months] |
31.01.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.72 |
0.74 |
0.54 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.46 |
0.49 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.01 |
0.00 |
(0.24) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.12 |
8.78 |
12.64 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.72 |
0.74 |
0.54 |
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 |
31.01.2015 |
31.03.2016
[14
Months] |
31.03.2017
[12
Months] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
47.025 |
53.501 |
59.751 |
|
Reserves & Surplus |
(234.348) |
(297.645) |
(351.380) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
241.250 |
300.000 |
|
Net
worth |
(187.323) |
(2.894) |
8.371 |
|
|
|
|
|
|
Long-term borrowings |
4.375 |
0.000 |
0.000 |
|
Short term borrowings |
560.000 |
470.000 |
365.651 |
|
Current maturities of
long-term debts |
30.000 |
0.000 |
0.000 |
|
Total
borrowings |
594.375 |
470.000 |
365.651 |
|
Debt/Equity
ratio |
(3.173) |
(162.405) |
43.681 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.01.2015 |
31.03.2016
[14
Months] |
31.03.2017
[12
Months] |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
929.872 |
1255.010 |
1062.457 |
|
|
|
34.966 |
(15.343) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.01.2015 |
31.03.2016
[14
Months] |
31.03.2017
[12
Months] |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
929.872 |
1255.010 |
1062.457 |
|
Profit/ (Loss) |
(356.011) |
(306.821) |
(288.735) |
|
|
(38.29
%) |
(24.45
%) |
(27.18
%) |
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 |
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 |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C34605329 |
10247637 |
Societe Generale |
14/10/2010 |
16/08/2013 |
21/11/2014 |
160000000.0 |
Maker Chamber IV, 13th Floor,Nariman Point,MumbaiMH400021IN |
|
2 |
C34572206 |
10247638 |
Societe Generale |
14/10/2010 |
06/07/2011 |
21/11/2014 |
120000000.0 |
Maker Chamber IV, 13th Floor,Nariman Point,MumbaiMH400021IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
250.000 |
345.000 |
|
Loans repayable on demand from banks |
115.651 |
125.000 |
|
|
|
|
|
Total |
365.651 |
470.000 |
CORPORATE INFORMATION
Celio Future Fashion Private Limited is a joint venture between Celio International S.A and Future Lifestyle Fashions Ltd (upto March 28, 2017) and Celio International S.A. and FLFL Lifestyle Brands Limited (w.e.f. March 29, 2017) . The Company operates in the single brand retailing of mens wear and accessories under the brand name "Celio". The Company is registered under the Companies Act, 1956.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against
the company not acknowledged as debts, comprising of: |
|
|
|
Value added tax Note: Future cash
outflows in respect of the above matter is determinable only on receipt of
judgement/ decision pending with the appeliate authority. |
1.303 |
0.000 |
STATE OF COMPANY’S
AFFAIRS
The management of the company continued with the core business
activities of the company. There is no change in the nature of business of the
company. The Directors further report that post completion of the year till the
present reporting date, there was neither any material change nor any
commitment made, which otherwise could affect the financial position of the
company.
FIXED ASSETS:
Tangible Assets
·
Electrical Installations
·
Plant and Equipment
·
Furniture and Fixtures
·
Office Equipment
·
Computer
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 records 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 64.27 |
|
UK Pound |
1 |
INR 89.72 |
|
Euro |
1 |
INR 79.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
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.