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|
MIRA INFORM REPORT
|
Report No. : |
491273 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HOUSE OF ANITA DONGRE LIMITED (w.e.f. 13.07.2015) |
|
|
|
|
Formerly Known
As : |
AND DESIGNS INDIA LIMITED |
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|
Registered
Office : |
20/C, Pali Village, Opposite Saisa Club, Off 16th Road, Bandra (West), Mumbai-400 050, Maharashtra |
|
Tel. No.: |
91-7303355256 (Mr. Mangesh Patil) |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
14.03.1995 |
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|
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Com. Reg. No.: |
11-086449 |
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|
|
Capital
Investment / Paid-up Capital : |
INR 44.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17116MH1995PLC086449 |
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IEC No.: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AADCA2325A |
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GSTIN : |
Not Divulged |
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|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
The company is engaged in the business of Designing, Manufacturing, Exporting and Retailing Apparel and Accessories in India and across the Globe. (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 : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
House of Anita Dongre Limited was incorporated in the year 1995. It is engaged in the business of designing, manufacturing, exporting and retailing of apparel and accessories in India and across the globe. For the financial year 2017, the revenue of the company has increased by 6.63% along with average profit margin of 4.63%. The healthy financial position of the company marked by strong networth base along with negligible debt level. The company has decent earning per share (EPS) of INR 46.32 against the face value (FV) of INR 10. The rating also derive strength from the vast experience of the promoters in the fashion industry. The company has divided product into western wear indo-western wear and traditional wear segments, with manufacturing on job- work basis the presence in both economy “Pret” segment and luxury- end “Couture” segment. In the Pret segment it has two brands, the “Flagship” and which is into western wear and “Global Desi’’ which is into fusion wear. However, rating strengths are partially offset by intensive nature of the business and vulnerability of profitability to raw material prices, changing in tastes and preferences which carry across states and fashion trends that change fast. Trade relations are reported as fair. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based limits = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
15.06.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based limits = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
15.06.2017 |
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 10.02.2018
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 DENIED BY
|
Name : |
Ms. Sujatha Patel |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-7303355256 |
|
Date : |
08.02.2018 |
LOCATIONS
|
Registered Office / factory: |
20/C, Pali Village, Opposite Saisa Club, Off 16th Road, Bandra (West), Mumbai-400 050, Maharashtra, India |
|
Tel. No.: |
91-22-65812444 / 61907349 |
|
Mobile No.: |
91-7303355256 (Mr. Mangesh Patil) |
|
Fax No.: |
Not Available |
|
E-Mail : |
amol.raje@houseofanitadongre.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No. R-847/1/1, TTC Industrial Area, MIDC, Rabale, Navi Mumbai –
400701, Maharashtra, India |
|
Tel. No.: |
91-22-61907100 |
|
Note: They have 150 store in India |
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mukesh Kishinchand Sawlani |
|
Designation : |
Managing Director |
|
Address : |
G-1, Emly Apartment, 7th Floor, 15th Road, Khar West, Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
06.08.1970 |
|
Qualification : |
B.com |
|
Date of Appointment : |
23.03.2015 |
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PAN No.: |
AAQPS1597L |
|
DIN No.: |
00980418 |
|
|
|
|
Name : |
Mr. Milind Shripad Sarwate |
|
Designation : |
Director |
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Date of Birth/Age : |
23.09.1959 |
|
Qualification : |
CA, CS. ICWA, CII-Fulbright Fellow (1996, Carnegie Mellon University, Pittsburgh, PA, U S A.) |
|
Address : |
E-201/202, Sita Vihar, Near Damani Estate, L.B.S. Marg, Naupada, Thane-400602, Maharashtra, India |
|
Date of Appointment : |
30.09.2015 |
|
PAN No.: |
AAOPS7258N |
|
DIN No.: |
00109854 |
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|
|
|
Name : |
Mrs. Meena Yadvinder Sehra |
|
Designation : |
Director |
|
Address : |
9, Bharat Mahal, 86, Marine Drive, Mumbai -400002,
Maharashtra, India |
|
Date of Birth/Age : |
05.03.1965 |
|
Qualification : |
Diploma in Fashion Designing |
|
Date of Appointment : |
02.05.2003 |
|
PAN No.: |
ABDPS8525N |
|
DIN No.: |
00136459 |
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|
|
|
Name : |
Mr. Dalip Sehgal |
|
Designation : |
Director |
|
Address : |
8A, 8 Akash Ganga 89, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
27.12.1958 |
|
Qualification : |
Bachelor of Arts in Economics, MBA in Marketing |
|
Date of Appointment : |
29.09.2016 |
|
PAN No.: |
AALPS0798J |
|
DIN No.: |
00217255 |
|
|
|
|
Name : |
Mrs. Anita Pravin Dongre |
|
Designation : |
Director |
|
Address : |
203, Ocean View, Union Park, Khar West, Mumbai-400052,
Maharashtra, India |
|
Date of Birth/Age : |
03.10.1963 |
|
Qualification : |
Diploma in Fashion Designing |
|
Date of Appointment : |
14.03.1995 |
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PAN No.: |
AAIPD4054D |
|
DIN No.: |
00980491 |
|
|
|
|
Name : |
Mr. Sandeep Achyut Naik |
|
Designation : |
Director |
|
Address : |
A-203/204, Krishna Residency Sundar Nagar, Malad (West), Mumbai-400064, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1972 |
|
Date of Appointment : |
12.11.2013 |
|
DIN No.: |
02057989 |
|
|
|
|
Name : |
Mr. Shantanu Rastogi |
|
Designation : |
Director |
|
Address : |
Planet Godrej, Tower 2, 3601/02 30, K.K. Marg, Saatrasta,
Jacob Circle, M Ahalaxmi, Mumbai-400011, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1979 |
|
Date of Appointment : |
12.11.2013 |
|
DIN No.: |
06732021 |
KEY EXECUTIVES
|
Name : |
Almas Anwar Badar |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. A10, Nandadeep CHS, Swami Samartha Marg, Sector 16A, Behind Fire Brigade, Navi Mumbai – 400703, Maharashtra, India |
|
Date of Appointment : |
22.11.2017 |
|
PAN No.: |
AQPPB7802E |
|
|
|
|
Name : |
Arun Meenakshisundaram Ganapathy |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-1703, Lake Primrose, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Appointment : |
22.11.2017 |
|
PAN No.: |
AEBPG2552E |
|
|
|
|
Name : |
Ms. Sujatha Patel |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Anita Pravin Dongre |
|
848998 |
|
Mukesh Kishinchand Sawlani |
|
907436 |
|
Meena Yadvinder Sehra |
|
848999 |
|
General Atlantic Singapore Fund Pte. Ltd. |
|
1744840 |
|
Sangita Rohira |
|
62502 |
|
Hari Sawlani |
|
2 |
|
Deepikesh Hira |
|
380 |
|
Milind Sarwate |
|
801 |
|
Total |
|
4413958 |
Equity Share Break up (Percentage of Total Equity)
As on 23.08.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
59.03 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
1.44 |
|
Public - Bodies corporate |
39.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of Designing, Manufacturing, Exporting and Retailing Apparel and Accessories in India and across the Globe. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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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Auditors : |
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|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar, Dadar (West), Mumbai, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company
: |
U74120MH2015NPL270392
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
U18100MH2005PTC151989
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4869380 |
Equity Shares |
INR 10/- each |
INR 48.694 Million |
|
140620 |
Preference shares |
INR 10/- each |
INR 1.406 Million |
|
|
Total |
|
INR 50.100
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4413958 |
Equity Shares |
INR 10/- each |
INR 44.140 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
44.100 |
44.100 |
44.100 |
|
(b) Reserves and Surplus |
2534.200 |
2327.400 |
2012.300 |
|
(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) |
2578.300 |
2371.500 |
2056.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.300 |
7.100 |
3.300 |
|
(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 |
7.900 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
9.200 |
7.100 |
3.300 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
316.400 |
79.400 |
134.100 |
|
(b) Trade
payables |
515.200 |
314.000 |
392.600 |
|
(c) Other
current liabilities |
268.600 |
190.300 |
178.300 |
|
(d) Short-term
provisions |
94.300 |
50.700 |
46.700 |
|
Total Current
Liabilities (4) |
1194.500 |
634.400 |
751.700 |
|
|
|
|
|
|
TOTAL |
3782.000 |
3013.000 |
2811.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1178.900 |
1071.600 |
958.400 |
|
(ii)
Intangible Assets |
70.300 |
18.300 |
11.200 |
|
(iii) Tangible assets
capital work-in-progress |
8.100 |
4.300 |
4.000 |
|
(iv)
Intangible assets under development |
0.000 |
51.500 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
66.000 |
38.100 |
31.500 |
|
(d)
Long-term loans and advances |
450.700 |
373.900 |
299.700 |
|
(e) Other
Non-current assets |
2.300 |
2.200 |
0.300 |
|
Total Non-Current
Assets |
1776.400 |
1560.000 |
1305.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
362.100 |
361.400 |
309.600 |
|
(b)
Inventories |
1328.800 |
854.500 |
884.100 |
|
(c) Trade
receivables |
234.600 |
175.500 |
172.800 |
|
(d) Cash and
bank balances |
25.300 |
14.800 |
108.600 |
|
(e)
Short-term loans and advances |
54.200 |
46.600 |
31.000 |
|
(f) Other
current assets |
0.600 |
0.200 |
0.100 |
|
Total
Current Assets |
2005.600 |
1453.000 |
1506.200 |
|
|
|
|
|
|
TOTAL |
3782.000 |
3013.000 |
2811.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4414.000 |
4139.300 |
3220.100 |
|
|
Other Income |
10.900 |
4.900 |
24.000 |
|
|
TOTAL |
4424.900 |
4144.200 |
3244.100 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1146.700 |
865.700 |
904.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(434.100) |
(2.600) |
(386.900) |
|
|
Employee benefit expense |
998.700 |
853.500 |
617.700 |
|
|
CSR expenditure |
0.500 |
0.000 |
0.000 |
|
|
Other expenses |
2161.300 |
1791.600 |
1508.000 |
|
|
TOTAL |
3873.100 |
3508.200 |
2643.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
551.800 |
636.000 |
600.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20.900 |
14.500 |
7.400 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
530.900 |
621.500 |
593.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
213.300 |
132.500 |
72.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
317.600 |
489.000 |
520.300 |
|
|
|
|
|
|
|
Less |
TAX |
113.100 |
174.500 |
175.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
204.500 |
314.500 |
344.800 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
14.000 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
14.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
46.330 |
71.264 |
85.40 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.700 |
1.600 |
1.500 |
|
Net cash flows from (used in) operations |
199.600 |
517.300 |
287.800 |
|
Net cash flows from (used in) operating activities |
86.700 |
325.500 |
85.800 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
19.40 |
15.48 |
19.59 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
18.82 |
23.59 |
18.63 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
163.99 |
132.39 |
158.38 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.42 |
0.74 |
0.68 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.44 |
0.56 |
0.62 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.32 |
0.21 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.12 |
0.04 |
0.07 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ NetWorth) |
|
0.46 |
0.27 |
0.37 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.49 |
0.48 |
0.47 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
26.40 |
43.86 |
81.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
4.63 |
7.60 |
10.71 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
5.41 |
10.44 |
12.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
7.93 |
13.26 |
16.77 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.68 |
2.29 |
2.00 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.57 |
0.94 |
0.83 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.68 |
0.79 |
0.73 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
7.22 |
2.00 |
3.15 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.68 |
2.29 |
2.00 |
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 |
44.100 |
44.100 |
44.100 |
|
Reserves & Surplus |
2012.300 |
2327.400 |
2534.200 |
|
Net
worth |
2056.400 |
2371.500 |
2578.300 |
|
|
|
|
|
|
Long-term borrowings |
3.300 |
7.100 |
1.300 |
|
Short term borrowings |
134.100 |
79.400 |
316.400 |
|
Current maturities of
long-term debts |
1.500 |
1.600 |
0.700 |
|
Total
borrowings |
138.900 |
88.100 |
318.400 |
|
Debt/Equity
ratio |
0.068 |
0.037 |
0.123 |
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 |
3220.100 |
4139.300 |
4414.000 |
|
|
|
28.546 |
6.636 |
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 |
3220.100 |
4139.300 |
4414.000 |
|
Profit/ (Loss) |
344.800 |
314.500 |
204.500 |
|
|
10.71
% |
7.60
% |
4.63
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
44.100 |
44.100 |
|
(b) Reserves and Surplus |
|
2534.000 |
2327.300 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
2578.100 |
2371.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.300 |
7.100 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
7.900 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
9.200 |
7.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
316.400 |
79.400 |
|
(b) Trade
payables |
|
515.300 |
314.000 |
|
(c) Other
current liabilities |
|
268.700 |
190.400 |
|
(d) Short-term
provisions |
|
94.300 |
50.700 |
|
Total Current
Liabilities (4) |
|
1194.700 |
634.500 |
|
|
|
|
|
|
TOTAL |
|
3782.000 |
3013.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1178.900 |
1071.600 |
|
(ii)
Intangible Assets |
|
70.300 |
18.300 |
|
(iii) Tangible assets
capital work-in-progress |
|
8.100 |
4.300 |
|
(iv)
Intangible assets under development |
|
0.000 |
51.500 |
|
(b) Non-current Investments |
|
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
|
66.000 |
38.100 |
|
(d)
Long-term loans and advances |
|
450.700 |
373.900 |
|
(e) Other
Non-current assets |
|
2.300 |
2.200 |
|
Total Non-Current
Assets |
|
1776.400 |
1560.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
362.100 |
361.400 |
|
(b)
Inventories |
|
1328.800 |
854.500 |
|
(c) Trade
receivables |
|
234.600 |
175.500 |
|
(d) Cash and
bank balances |
|
25.300 |
14.800 |
|
(e)
Short-term loans and advances |
|
54.200 |
46.600 |
|
(f) Other
current assets |
|
0.600 |
0.200 |
|
Total
Current Assets |
|
2005.600 |
1453.000 |
|
|
|
|
|
|
TOTAL |
|
3782.000 |
3013.000 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
4414.000 |
4139.300 |
|
|
Other Income |
|
10.900 |
4.900 |
|
|
TOTAL |
|
4424.900 |
4144.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1146.700 |
865.700 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(434.100) |
(2.600) |
|
|
Employee benefit expense |
|
998.700 |
853.500 |
|
|
CSR expenditure |
|
0.500 |
0.000 |
|
|
Other expenses |
|
2161.400 |
1791.700 |
|
|
TOTAL |
|
3873.200 |
3508.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
551.700 |
635.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
20.900 |
14.500 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
530.800 |
621.400 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
213.300 |
132.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
317.500 |
488.900 |
|
|
|
|
|
|
|
Less |
TAX |
|
113.100 |
174.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
204.400 |
314.400 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
46.31 |
71.24 |
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 |
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 |
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 |
Note: The Registered Office of the company has been shifted from “Plot No 88, Marol Co-operative Industrial Estate, M V Road, Marol Andheri (East), Mumbai – 400059, Maharashtra, India” to the present address.
CORPORATE INFORMATION
Subject is a public company domiciled in India and incorporated under the provisions of the Companies Act,1956. The company is engaged in the business of designing, manufacturing and retailing apparel and accessories in India and across the globe.
PERFORMANCE
During the year under review, the company has clocked total revenues of INR 4414.000 Million as compared to INR 4139.300 Million in the previous year; an increase of over 6% over the previous year.
As on 31st March, 2017, the Company’s EBO store count grew to 143 for Global Desi (GD), 121 for AND, 12 for Anita Dongre and 3 for Grassroot, with another 750 points of sale in MBOs for and GD brands along with strengthening their presence in E-Commerce.
FUTURE PROSPECTS
As on 31st March, 2017, the Company’s EBO store count grew to 143 for Global Desi, 122 for AND, 11 for Anita Dongre and 5 for Grassroot, with another 759 points of sale in MBOs for both brands along with strengthening their presence in E-Commerce. The total points of sale were 1040 as on 31st March 2017.
GD and both reached their 100 store mark in this financial year.
The company has achieved a milestone of opening 100 EBOs in a single fiscal year for the first time, adding a significant number of stores in non-metro markets. The expansion has seen induction of new franchisee partners into their portfolio. Focus for the Financial Year 2017-18 also remains in expansion with more number of franchisee stores. In Financial Year 2017-18, they plan to add 45 new doors to their existing EBO portfolio.
Company has decided to invest its efforts in the Regional MBO channel and increase the foot print in Tier 2 and 3 markets. The Company has now presence in 43 SIS for and 47 SIS for GD in fiscal year 2016-17. This would also be a channel to test the market for future expansion through EBOs. Further, the Company will continue to cautiously grow this channel with potential counters.
The Company opened its flagship stores for and GD at Linking Road in Mumbai and Indiranagar in Bengaluru, where they had combined stores. This clearly lays the focus of running both brands and GD as two separate focused brands by getting away from doing any combined stores in future. Company shall continue to explore more opportunities of disintegrating the existing combined store to make it individual brand stores.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures others |
0.000 |
2.000 |
|
|
|
|
|
Total |
0.000 |
2.000 |
INDEX
OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C73428393 |
10608196 |
ICICI BANK LIMITED |
06/11/2015 |
- |
- |
4000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
2 |
C58105271 |
10578294 |
YES BANK LIMITED |
18/06/2015 |
- |
- |
300000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
3 |
C59357806 |
10580897 |
KOTAK MAHINDRA PRIME LIMITED |
28/03/2015 |
- |
- |
956324.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
4 |
C59357418 |
10580896 |
KOTAK MAHINDRA PRIME LIMITED |
19/12/2014 |
- |
- |
1311300.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
5 |
Y10258924 |
90159154 |
CITI BANK |
04/03/2003 |
- |
- |
500000.0 |
CITI 61DR SS RAO MARGPARELMUMBAIMH400012IN |
|
6 |
C57958407 |
10131075 |
DEVELOPMENT CREDIT BANK LIMITED |
20/10/2008 |
17/02/2012 |
01/07/2015 |
200000000.0 |
601 & 602, PENINSULA BUSINESS PARK, 6TH FLOOR,TOWER A, SENAPATI BAPAT MARG, LOWER PAREL,MUMBAIMH400013IN |
|
7 |
C04880811 |
10367556 |
DEVELOPMENT CREDIT BANK LIMITED |
23/07/2012 |
- |
02/05/2014 |
52500000.0 |
601 & 602, PENINSULA BUSINESS PARK, 6TH FLOOR,TOWER A, SENAPATI BAPAT MARG, LOWER PAREL,MUMBAIMH400013IN |
|
8 |
C04879037 |
10222153 |
DEVELOPMENT CREDIT BANK LIMITED |
26/04/2010 |
- |
02/05/2014 |
20000000.0 |
301, DELTA PLAZA414, VEER SAVARKAR MARG, PRABHADEVI,MUMBAIMH400025IN |
|
9 |
C04880316 |
10339316 |
DEVELOPMENT CREDIT BANK LIMITED |
17/02/2012 |
- |
02/05/2014 |
30000000.0 |
601 & 602, PENINSULA BUSINESS PARK, 6TH FLOOR,TOWER A, SENAPATI BAPAT MARG, LOWER PAREL,MUMBAIMH400013IN |
|
10 |
C04879920 |
10266375 |
DEVELOPMENT CREDIT BANK LIMITED |
01/02/2011 |
- |
02/05/2014 |
98000000.0 |
301, DELTA PLAZA414, VEER SAVARKAR MARG, PRABHADEVI,MUMBAIMH400025IN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Leasehold improvements
- 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, 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 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
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.