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MIRA INFORM REPORT
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Report No. : |
484326 |
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Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ARVIND LIFESTYLE BRANDS LIMITED (w.e.f.09.06.2008) |
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Formerly Known
As : |
PINNACLE RISK ADVISORY SERVICES LIMITED [w.e.f.26.07.2002] HRM CONSULTING GROUP LIMITED [w.e.f.03.12.1999] CLEARCALL TELECOM LIMITED [w.e.f.27.03.1995] ARVIND TELECOM LIMITED |
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Registered
Office : |
Arvind Mills Premises, Naroda Road, Ahmedabad - 380025, Gujarat |
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Tel. No.: |
91-79-22203030 / 30138000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
13.02.1995 |
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Com. Reg. No.: |
04-024598 |
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Capital
Investment / Paid-up Capital : |
INR 336.351
Million |
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CIN No.: [Company Identification
No.] |
U64201GJ1995PLC024598 |
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IEC No.: |
0809021218 |
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GST No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACH7252A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
· Trader and Exporter of Readymade Garment Apparels and Accessories. (Confirmed by Management) · Subject is engaged in the business of Distribution and Retailing of Readymade Garment Apparels and Accessories. (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)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly-owned step-down subsidiary of “Arvind Limited” and is a licensee for marketing various global brands in India. The brands portfolio of the company includes some of the key national and international brands like Arrow, US Polo, GAP, Tommy Hilfiger, Calvin Klein, Gant, Izod, Nautica, Elle, Cherokee, Ed Hardy, Hanes and Geoffrey Beene. The company portfolio of owned brands includes Flying Machine, Excalibur, Ruggers, Colt and New Port University. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, the company has achieved growth of 15.32% in its revenue profile as compared to the previous year. The profitability margin stood at 0.91% during the year under review. Rating also takes into consideration the company’s adequate financial profile with improved net worth position, sound liquidity position and comfortable debt protection metrics. The ratings also derive strength from the wide experience of its promoters, long-standing operational track record of Arvind as an integrated textile manufacturer having a presence across the textile value. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered for normal business dealings at usual trade terms and condition. |
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 |
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Rating |
Long term Loans: AA |
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Rating Explanation |
High degree of safety and very low credit
risk. |
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Date |
16.11.2016 |
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Rating Agency Name |
CARE |
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Rating |
Short term Loans: A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
16.11.2016 |
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 06.01.2018.
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 [TEL. NO.: 91-79-22203030/ 30138000/
9845197710/ 9845939543]
LOCATIONS
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Registered/Corporate Office 1/ Headquarter : |
Arvind Mills Premises, Naroda Road, Ahmedabad – 380025, Gujarat, India |
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Tel. No.: |
91-79-22203030 / 30138000 |
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Mobile No.: |
91-9845197710 (Mr. Mani Kandan) 91-9845939543 (Mr. Kishor Kumar) |
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Fax No.: |
91-79-22200267 / 30138671 |
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E-Mail : |
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Website : |
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Corporate Office 2
: |
8th Floor, Duparc Trinity 17, M.G. Road Bangalore – 560001, Karnataka, India |
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Tel. No.: |
91-80-41550601 |
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Warehouse : |
Survey No.93, Archakara Halli, No.26/2 and 27/2, Kasaba Hobli, Ramnagar, Bangalore - 560032, Karnataka, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Suresh Jayaraman |
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Designation : |
Managing Director |
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Address : |
S02, Magnolai No. 170/5, Defence Colony, 5th Main Indira Nagar,
Bangalore-560038, |
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Date of Birth/Age : |
25.05.1960 |
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Date of Appointment : |
28.10.2010 |
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PAN No.: |
AEPPJ7802Q |
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DIN No.: |
03033110 |
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Name : |
Mr. Jayesh Kantilal Shah |
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Designation : |
Director |
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Address : |
26, Amaltas Bunglows, Vastrapur, Ahmedabad-380015, |
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Date of Birth/Age : |
25.05.1960 |
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Date of Appointment : |
31.10.2009 |
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DIN No.: |
00008349 |
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Name : |
Mr. Sajaybhai Shrenikbhai Lalbhai |
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Designation : |
Director |
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Address : |
Lalbaug, Shahibaug, Ahmedabad-388004, |
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Date of Birth/Age : |
10.04.1954 |
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Date of Appointment : |
31.10.2009 |
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DIN No.: |
00008329 |
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Name : |
Mrs. Renuka Ramnath |
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Designation : |
Director |
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Address : |
D-4701/2, Floor: 47, Ashok Tower, 63/74, Dr. S. S. Rao Marg, Parel, Mumbai - 400012, Maharashtra, India |
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Date of Appointment : |
04.11.2014 |
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DIN No.: |
00147182 |
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Name : |
Mr. Bakul Harshadrai Dholakia |
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Designation : |
Director |
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Address : |
6, Asopalav Bungalow Thaltej, Ahmedabad – 380059, Gujarat, India |
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Date of Appointment : |
16.03.2015 |
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DIN No.: |
00005754 |
KEY EXECUTIVES
|
Name : |
Mr. B.S Vijay Kumar |
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Designation : |
Company Secretary |
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Address : |
No. 740, Eswari Industrial Estate, Gate 2, Hulimavu,
Bannerghatta Road, Bangalore – 560076, Karnataka, India |
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Date of Appointment : |
30.10.2015 |
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PAN No.: |
DAXPK9214C |
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Name : |
Mrs. Kannan Soundararajan |
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Designation : |
Chief Finance Officer |
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Address : |
Flat No. C-32, Oakyard Apartment, 38th Cross Jayanagar 9th
Block, East End Road, Bangalore – 560069, Karnataka, India |
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Date of Appointment : |
04.11.2014 |
|
PAN No.: |
ABSPK9188Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Arvind Fashions Limited, India |
54396997 |
|
Devanshu S Desai [Nominee of Arvind Fashions Limited, India] |
1 |
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Ramnik V Bhimani [Nominee of Arvind Fashions Limited, India] |
1 |
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Jayesh N Thakkar [Nominee of Arvind Fashions Limited, India] |
1 |
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Hemen H Joshi [Nominee of Arvind Fashions Limited, India] |
1 |
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Rohit S Jani [Nominee of Arvind Fashions Limited, India] |
1 |
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Bharat P Patel [Nominee of Arvind Fashions Limited, India] |
1 |
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Total
|
54397003 |
AS ON 26.09.2017
|
Names of Allottee (Equity Share) |
No. of Shares |
|
Arvind Fashions Limited, India |
26881720 |
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Total
|
26881720 |
AS ON 04.08.2017
|
Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters |
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Body corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Trader and Exporter of Readymade Garment Apparels and Accessories. (Confirmed by Management) · Subject is engaged in the business of Distribution and Retailing of Readymade Garment Apparels and Accessories. (Registered Activity) |
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Products : |
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Brand Names : |
· Arrow · Cherokee · ELLE · Mossimo · USPA · Megamart · Ed Hardy · Edge · GAP · Gant · Hanes · Izod · Nautica · U. S. POLO · IZOD · Debenhams · Flying Machine, etc. |
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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 : |
· Bank of Baroda · State Bank of India Commercial Branch, 3rd Floor, Paramasiddhi Complex, Near Mahakanth Building, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Financial Institution: |
Axis Trustee Services Limited |
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Auditors : |
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Name : |
Sorab S Engineer and Company Chartered Accountants |
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Address : |
902, Raheja Centre, Free Press Journal, Nariman Point, Mumbai-400021, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFS5191E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Arvind Brands and Retail Limited [U52609GJ2007PLC051974] |
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Ultimate Holding
company: |
Arvind Limited [L17119GJ1931PLC000093] |
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Enterprises which are owned, or have
significant influence of
or are partners with Key management personnel
and their relatives: |
Aura Securities Private Limited [U51909GJ2000PTC038248] |
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Fellow Subsidiary Company: |
· Arvind Internet Limited [U72400GJ2013PLC074576] · Arvind Infrastructure Limited [U45201GJ2008PLC055771] · Arvind Accel Limited [U29100GJ2008PLC053226] · Asman Investments Limited [U65910GJ1981PLC004408] · Arvind Beauty Brands Retail Private Limited [U52100GJ2015PTC082996] · Aura Securities Private Limited [U51909GJ2000PTC038248] |
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Other Related Parties: |
· Calvin Klein Arvind Fashion Private Limited [U52190GJ2011PTC084513] · Arvind Goodhill suit Manufacturing Private Limited [U17121GJ2012PTC071968] |
CAPITAL STRUCTURE
AFTER 04.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
85000000 |
Equity Shares |
INR 10/- each |
INR 850.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
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|
81278723 |
Equity Shares |
INR 10/- each |
INR 812.787 Million |
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AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33635100 |
Equity Shares |
INR 10/- each |
INR 336.351 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
336.351 |
299.351 |
279.351 |
|
(b) Reserves & Surplus |
4647.543 |
2612.748 |
2294.503 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4983.894 |
2912.099 |
2573.854 |
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1914.760 |
1491.788 |
1470.050 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
373.809 |
279.505 |
159.405 |
|
(d)
long-term provisions |
55.730 |
41.454 |
31.129 |
|
Total
Non-current Liabilities (3) |
2344.299 |
1812.747 |
1660.584 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
4344.768 |
4990.943 |
3886.610 |
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(b)
Trade payables |
6644.528 |
5582.995 |
4809.134 |
|
(c)
Other current liabilities |
1279.169 |
1196.486 |
1088.305 |
|
(d)
Short-term provisions |
105.335 |
91.630 |
68.393 |
|
Total
Current Liabilities (4) |
12373.800 |
11862.054 |
9852.442 |
|
|
|
|
|
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TOTAL |
19701.993 |
16586.900 |
14086.880 |
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|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2448.225 |
2051.827 |
2106.987 |
|
(ii)
Intangible Assets |
457.906 |
565.878 |
674.211 |
|
(iii)
Capital work-in-progress |
7.622 |
0.426 |
0.000 |
|
(iv) Intangible assets under development |
247.336 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.150 |
0.150 |
0.150 |
|
(c) Deferred tax assets
(net) |
447.006 |
508.683 |
192.086 |
|
(d) Long-term Loan
and Advances |
1738.644 |
1430.198 |
1375.997 |
|
(e)
Other Non-current assets |
0.685 |
4.503 |
17.875 |
|
Total
Non-Current Assets |
5347.574 |
4561.665 |
4367.306 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4528.397 |
5056.258 |
4093.191 |
|
(c)
Trade receivables |
8574.747 |
5960.835 |
4724.328 |
|
(d)
Cash and cash equivalents |
187.454 |
77.622 |
176.506 |
|
(e)
Short-term loans and advances |
1013.784 |
910.610 |
708.712 |
|
(f)
Other current assets |
50.037 |
19.910 |
16.837 |
|
Total
Current Assets |
14354.419 |
12025.235 |
9719.574 |
|
|
|
|
|
|
TOTAL |
19701.993 |
16586.900 |
14086.880 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
24272.983 |
21049.325 |
17420.492 |
|
|
|
Other Income |
63.568 |
49.566 |
(9.067) |
|
|
|
TOTAL |
24336.551 |
21098.891 |
17411.425 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
31.975 |
43.861 |
96.313 |
|
|
|
Purchases of Stock-in-Trade |
11868.687 |
11935.924 |
10155.336 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
521.600 |
(909.427) |
(1010.842) |
|
|
|
Employees benefits expense |
1947.739 |
1588.406 |
1281.385 |
|
|
|
Exceptional Items |
0.000 |
224.040 |
0.000 |
|
|
|
Other expenses |
8059.716 |
7152.826 |
5956.465 |
|
|
|
TOTAL |
22429.717 |
20035.630 |
16478.657 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1906.834 |
1063.261 |
932.768 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
755.472 |
858.280 |
647.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1151.362 |
204.981 |
285.190 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
867.890 |
682.172 |
585.141 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
283.472 |
(477.191) |
(299.951) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
61.677 |
(153.996) |
(85.142) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
221.795 |
(323.195) |
(214.809) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of traded goods exported |
320.973 |
279.097 |
267.094 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1457.087 |
1368.328 |
1012.642 |
|
|
|
components and spare parts |
31.632 |
69.691 |
2.032 |
|
|
|
Capital Goods |
43.180 |
9.975 |
1.480 |
|
|
TOTAL IMPORTS |
1531.899 |
1447.994 |
1016.154 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic |
6.86 |
(3.54) |
(7.83) |
|
|
|
Diluted
|
6.86 |
(11.53) |
(7.83) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
538.559 |
479.102 |
179.403 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(337.003) |
(1517.139) |
(1442.903) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
128.94 |
103.36 |
98.99 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.83 |
3.53 |
3.69 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
203.79 |
170.10 |
171.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.42 |
0.21 |
0.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.60 |
0.41 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.75 |
0.83 |
0.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.36 |
2.39 |
2.15 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.48 |
4.07 |
3.83 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.63 |
0.90 |
1.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.52 |
1.24 |
1.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.91 |
(1.54) |
(1.23) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.13 |
(1.95) |
(1.52) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.45 |
(11.10) |
(8.35) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.16 |
1.01 |
0.99 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.79 |
0.59 |
0.57 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.25 |
0.18 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
20.21 |
23.26 |
19.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.16 |
1.01 |
0.99 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
279.351 |
299.351 |
336.351 |
|
Reserves & Surplus |
2294.503 |
2612.748 |
4647.543 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2573.854 |
2912.099 |
4983.894 |
|
|
|
|
|
|
Long-term borrowings |
1470.050 |
1491.788 |
1914.760 |
|
Short term borrowings |
3886.610 |
4990.943 |
4344.768 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
179.403 |
479.102 |
538.559 |
|
Total
borrowings |
5536.063 |
6961.833 |
6798.087 |
|
Debt/Equity
ratio |
2.151 |
2.391 |
1.364 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
17420.492 |
21049.325 |
24272.983 |
|
|
|
20.831 |
15.315 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
17420.492 |
21049.325 |
24272.983 |
|
Profit/(Loss) |
(214.809) |
(323.195) |
221.795 |
|
|
(1.23%) |
(1.54%) |
0.91% |
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 |
No |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C62952569 |
10588819 |
AXIS TRUSTEE SERVICES LIMITED |
04/08/2015 |
- |
- |
1200000000.0 |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG, WORLI,MUMBAIMH400025IN |
|
2 |
B83787606 |
10446579 |
STATE BANK OF INDIA |
16/08/2013 |
- |
- |
3701200000.0 |
COMMERCIAL BRANCH, 3RD FLOORPARAMASIDDHI COMPLEX, NEAR MAHAKANTH BUILDINGAHMEDABADGJ380006IN |
|
3 |
B83787028 |
10446576 |
STATE BANK OF INDIA |
16/08/2013 |
- |
- |
750000000.0 |
COMMERCIAL BRANCH, 3RD FLOORPARAMASIDDHI COMPLEX, NEAR MAHAKANTH BUILDINGAHMEDABADGJ380006IN |
|
4 |
B45213782 |
10369345 |
STATE BANK OF INDIA |
12/06/2012 |
- |
- |
250000000.0 |
COMMERCIAL BRANCH, 3RD FLOORPARAMASIDDHI COMPLEX, NEAR MAHAKANTH BUILDINGAHMEDABADGJ380006IN |
|
5 |
B22254817 |
10309498 |
STATE BANK OF INDIA |
06/09/2011 |
- |
- |
200000000.0 |
MID CORPORATE GROUP, COMMERCIAL BRANCH,3RD FLOOR"PARAMSIDDHI"COMPLEX,NR.MAHAKANT BLDG.,ELLISBRIDGEAHMEDABADGJ380006IN |
|
6 |
C62871520 |
10309501 |
AXIS TRUSTEE SERVICES LIMITED |
06/09/2011 |
04/08/2015 |
- |
4613200000.0 |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG, WORLI,MUMBAIMH400025IN |
|
7 |
B09709700 |
10189726 |
STATE BANK OF INDIA |
26/11/2009 |
11/02/2011 |
- |
1182800000.0 |
MID CORPORATE GROUP, COMMERCIAL BRANCH,3RD FLOOR"PARAMSIDDHI"COMPLEX,NR.MAHAKANT BLDG.,ELLISBRIDGEAHMEDABADGJ380006IN |
|
8 |
B09711425 |
10190135 |
STATE BANK OF INDIA |
26/11/2009 |
11/02/2011 |
- |
650000000.0 |
MID CORPORATE GROUP, COMMERCIAL BRANCH,3RD FLOOR"PARAMSIDDHI"COMPLEX,NR.MAHAKANT BLDG.,ELLISBRIDGEAHMEDABADGJ380006IN |
|
9 |
C61055695 |
10275675 |
BANK OF BARODA |
11/02/2011 |
- |
03/08/2015 |
187500000.0 |
1ST FLOOR, BANK OF BARODA TOWERSELLISBRIDGEAHMEDABADGJ380006IN |
|
10 |
C61056438 |
10536592 |
BANK OF BARODA |
24/11/2014 |
- |
03/08/2015 |
500000000.0 |
CORPORATE FINANCIAL SERVICES BRANCH, 1ST FLOORBOB TOWERS, OPP. LAW GARDEN, ELLISBRIDGEAHMEDABADGJ380006IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Non-convertible debentures others |
750.000 |
0.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from |
749.316 |
532.624 |
|
Intercorporate borrowings |
897.470 |
1661.150 |
|
|
|
|
|
Total |
2396.786 |
2193.774 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from
AAA Hospital Premises, Naroda Road, Ahmedabad – 380025, Gujarat, India to the
present address w.e.f.21.01.2005.
COMPANY BACKGROUND
The company is engaged in the business of distribution and Retailing of Readymade Garment Apparels and Accessories. True to being the pioneer in Apparel designing and retailing in India, ALBL launched first ever Denim Brand in India in the early 80’s, brought first international brand Arrow to India in early 90’s and also opened first exclusive brand outlet in India. With close to 600 stores covering 6 Lac plus square feet of Retail space panning the length and breadth of the country, ALBL today has some of the best known international portfolio brands, the likes of ARROW, GANT, U. S. POLO, IZOD, ELLE, NAUTICA, DEBENHAMS, NEXT and HANES apart from our very own Denim brand FLYING MACHINE spread across. The company has recently added two New Brands in GAP and TCP to strengthen its presence in Bridge to Lifestyle and Kidswear segment respectively. Megamart, a division of ALBL is engaged in the business of Value Retailing of Apparels. Again taking Pioneer position,
Megamart introduced the concept of Apparel Value retailing business in India and dominates the Branded Apparel Value-Retailing market in India. Megamart also introduced International Brands like Cherokee, Mossimo and Geoffrey Beane in the Value Retailing segment and created a big market excitement. With more than 135 regular format stores and 5 Big Format stores, Megamart operates with more than 8 million square feet of Retail space across India.
Both Brands and Megamart retail presence touches 800+ stores and 14.2Mn Retail space.
REVIEW OF
BUSINESS OPERATIONS AND FUTURE PROSPECTS
The Company has posted Revenue from operations (gross) for the current year at INR 25328.630 which was at INR 21927.162 million during the previous year, showing growth of 15.51%. The Profit before interest, depreciation, tax and exceptional items stands at INR 1906.833 million which was at INR. 1287.301 million during the previous year.
The year was challenging on many fronts. The company has completed yet another significant year in which it has achieved a sustained growth in terms of Turnover and increase in profitability.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
PRESS RELEASES
ARVIND DIVESTS 10% IN
SUBSIDIARY TO PRIVATE EQUITY FIRM FOR INR 7400.000 MILLION
October 26, 2016
Arvind Limited, one of India's largest integrated textile and apparel companies, has divested 10 per cent stake in its brand business subsidiary Arvind Lifestyle Brands to Multiples, the private equity firm founded by Renuka Ramnath.
At an enterprise value of INR 80000.000 million, the deal is valued at INR 7400.000 million which would be used by Arvind to reduce its debt. Post this deal, effective November 2016, the overall debt on the group level of the conglomerate would decline to INR 25000.000 million.
"Arvind has completed a deal under which 10 per cent stake in Arvind's brand business arm has been acquired by Multiples, promoted by Renuka Ramnath. Our brand business has been growing at phenomenal rate over the years. So, the value of our brand business subsidiary is worked out at INR 80000.000 million," said Sanjay Lalbhai, chairman and managing director, Arvind Limited.
Arvind's brand portfolio is among the strongest in India and has many power brands that have growth at a phenomenal pace. The business clocked a turnover of INR 23000.000 million for the financial year 2015-16 and is one of the fastest growing businesses in the country with a compounded annual growth rate (CAGR) of 25 per cent over the last three years.
The unmatched portfolio includes global marquee brands such as Calvin Klein, Tommy Hilfiger, US Polo Assn, Ed Hardy, Hanes, Arrow, Gant and Nautica among others.
"The transaction reflects the confidence of the investor community in the overall business strategy, the robustness of the platform and quality of our leadership team. The deal is an important milestone in our journey to be a fashion, apparel and accessories powerhouse," said Lalbhai.
Arvind has got a very interesting and comprehensive portfolio of brands. It has many growth engines. Arvind has a wide portfolio relevant for various sectors including men, women and children; and various kinds of value propositions including luxury, premium and value. Arvind has crystalised its potential by bringing in an investor through selling 10 per cent equity in the brand subsidiary.
"We believe that the new investor will add value to the company. We estimate this business to reach the phenomenal heights in the next five years. I have been saying since long that India has not achieved its full potential in terms of growth in textiles sector. Consumers would start investing in their wardrobe once Indians achieve a sizeable per capita income," said Lalbhai.
With India becoming the fastest growing economy in the world, Arvind estimates the future growth momentum to continue.
"We estimate our business to treble in the next five years from the INR 32000.000 million now to INR 90000.000 million by 2022," said Suresh J, Managing Director and Chief Executive Officer, Arvind Limited
ARVIND: BRANDS
BUSINESS STAKE SALE LEADS TO HIGH EXPECTATIONS
Nov 03 2016
The 10% stake sale in its branded apparel business not only upped the expectations about Arvind Ltd but also of its peer Aditya Birla Fashion and Retail Limited.
The deal values Arvind’s brand business at 22-24 times one-year forward EV/Ebitda. That is higher than what the Street was assigning and triggered gains in the stock, which is up around 15% from when the deal was announced. (EV/Ebitda is enterprise value to earnings before interest tax depreciation and amortization. It is a measure of the value of the stock and the company.)
Compared to Arvind, Aditya Birla Fashion’s brands business is said to be more mature, as Arvind still has brands that are in the investment phase. So Aditya Birla Fashion should get superior valuations, analysts at Edelweiss Securities Ltd argue. “Considering overall brand size, better penetration, better return ratios (Madura’s RoCE of 46% versus Arvind brands ~7%), we believe Aditya Birla Fashion should command better multiples,” Edelweiss said in a note. “At current market price, the Aditya Birla Fashion stock trades at 16.7x FY19E EV/Ebitda. With the Arvind deal at richer valuations, we expect this to aid re-rating of Aditya Birla Fashion’s business too.” Madura is the apparel brand unit of Aditya Birla Fashion. RoCE is return on capital employed.
For Arvind, the stake sale transaction will strengthen its financial position through debt reduction and infusion of funds for investments. As profitability improves and the brands business becomes self-sustaining, the stock can re-rate and it may even pave the way for a separate listing, ICICI Securities Ltd says. “We believe that, as in the case of Arvind Infrastructure, Arvind Lifestyle & Brands could also be possibly carved out as a separate listed entity in the foreseeable future which would unlock value for minority shareholders,” ICICI Securities said in a note.
These expectations have driven up the stock. While it is up 49% from a year ago, the valuation and the current Street expectations could be affected if the company does not deliver on the brands business. Despite strong growth, the unit generates single digit margins and trails peers like Aditya Birla Fashion on a full-year basis (2015-16).
As the brands business attains economies of scale, Arvind expects profitability to improve. But that is easier said than done. Its power brands are doing well, clocking double-digit margins. The trouble is with emerging brands where it continues to lose money and requires investments. A breakthrough here can create enduring value for the shareholders.
AGE GAP NO BAR FOR TECHNOLOGY: ARVIND LIFESTYLE'S J. SURESH
AUG 22, 2016
For the average person, who
does not qualify as a tech nerd, it can often be difficult to get a grip on the
constantly changing development in technology
However, J Suresh, MD and CEO, Arvind Lifestyle,
has observed that two types of age groups don't let new gadgets intimidate
them. "I've seen that kids below five and senior citizens above 70 are
smart with adapting to technology. Give them a phone and they will explore it
completely," says Suresh with a laugh
Speaking on the sidelines of a smart shirt's launch, Suresh said that even though he wouldn't consider himself extremely tech savvy, he is yet to go on a 'phone detox'. "I'm glued to my phone. Every time I wake up in the middle of the night, I end up responding to a few emails. That works best in situations when the mail is from companies in the US, saving a lot of time."
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.38 |
|
UK Pound |
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
ARC |
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.