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MIRA INFORM REPORT
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Report No. : |
497564 |
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Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
RAYMOND APPAREL LIMITED [w.e.f 28.06.2010] |
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Formerly Known
As : |
SOLITAIRE FASHIONS LIMITED [w.e.f. 31.12.2009] GAS APPAREL LIMITED [w.e.f.27.03.2009] GAS APPAREL PRIVATE LIMITED [w.e.f. 21.12.2006] SOLITAIRE FASHIONS PRIVATE LIMITED |
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Registered
Office : |
Jekegram, Pokhran Road No.1, Thane – 400606, Maharashtra |
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Tel. No.: |
91-22-61527000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
26.10.2006 |
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Com. Reg. No.: |
11-262077 [New] 11-061384 [Old] |
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Capital
Investment / Paid-up Capital : |
INR 363.000 Million |
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CIN No.: [Company Identification
No.] |
U18109MH2006PLC262077[New] U18109TN2006PLC061384 [Old] |
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IEC No.: [Import-Export Code No.] |
0306073650 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAKCS3399H1ZS |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAKCS3399H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Designing and Branding of apparel and apparel accessories
which are either outsourced as traded goods or manufactured through contract
vendors. [Registered Activity] |
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No. of Employees
: |
Information denied 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 : |
Exist |
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Comments : |
Subject was incorporated in the year 2006 and is a subsidiary of Raymond Limited. The company is engaged in the business of manufacturing and marketing of readymade garments. 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 year ended 2016, the company has obtained sales growth rate of 19.88%. The net profit margin of the company has slightly increased from 2.21% in the FY 2015 to 2.56% in the FY 2016. The financial profile of the company seems to be good with above average net worth base, adequate liquidity position and low debt balance sheet. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long Term = A+ |
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Rating Explanation |
Adequate degree of safety and low credit
risk. |
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Date |
01.03.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short Term = A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
01.03.2017 |
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 16.03.2018.
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
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-22-40349999)
Given Number [91-22-26241312] – Wrong Number.
LOCATIONS
|
Registered Office : |
Jekegram, Pokhran Road No.1, Thane – 400606, Maharashtra, India |
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Tel. No.: |
91-22-61527000 |
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Fax No.: |
91-22-61528111 |
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E-Mail : |
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Website : |
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Corporate Office: |
Mahindra Towers, 2nd Floor, B wing, Pandurang Budhkar Marg,
Worli, Mumbai – 400018, Maharashtra, India |
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Tel No.: |
91-22-40349999 |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Gaurav Dalmia |
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Designation : |
Director |
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Address : |
Dalmia House 20F, Prithvi Raj Road, New Delhi – 110011, India |
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Date of Appointment : |
27.07.2011 |
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DIN No.: |
00009639 |
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Name : |
Ms. Asha Singhania |
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Designation : |
Director |
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Address : |
J.K. House, 59A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
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Date of Appointment : |
27.07.2011 |
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DIN No.: |
00020016 |
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Name : |
Dr. Vijaypat Singhania |
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Designation : |
Director |
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Address : |
J.K. House, 59A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
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Date of Appointment : |
27.07.2011 |
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DIN No.: |
00020063 |
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Name : |
Mr. Gautam Hari Singhania |
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Designation : |
Director |
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Address : |
J.K. House, 59A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
09.09.1965 |
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Date of Appointment : |
27.07.2011 |
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DIN No.: |
00020088 |
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Name : |
Mr. Ishwar Das Agarwal |
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Designation : |
Director |
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Address : |
1701, 17th Floor, Tower-1 (Terra) Plan Et Godrej, 30k, Khadye Marg, Mahalaxmi (East), Mumbai – 400011, Maharashtra, India |
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Date of Birth/Age : |
01.01.1941 |
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Date of Appointment : |
27.07.2011 |
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DIN No.: |
00293784 |
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Name : |
Mr. Nirvik Singh |
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Designation : |
Director |
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Address : |
Zirad Alibaug, Raigad – 402201, Maharashtra, India |
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Date of Birth/Age : |
23.08.1963 |
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Date of Appointment : |
27.07.2011 |
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DIN No.: |
01570572 |
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Name : |
Mr. Joydeep Bhattacharya |
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Designation : |
Director |
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Address : |
J-205, Som Vihar Apartments, RK Puram, New Delhi -110022, India |
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Date of Birth/Age : |
26.07.1972 |
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Date of Appointment : |
27.07.2011 |
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DIN No.: |
01779735 |
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Name : |
Mr. Sanjay Kumar Behl |
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Designation : |
Director |
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Address : |
Flat No. C-302, Avantika Corporate Housing Society, Birla Lane, Near Tulip Star Hotel, Vile Parle (West) , Juhu, Mumbai – 400049, Maharashtra, India |
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Date of Appointment : |
24.11.2014 |
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DIN No.: |
07003899 |
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PAN No.: |
AADPB1738M |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kumar Behl |
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Designation : |
Manager |
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Address : |
Flat No. C-302, Avantika Chs, Birla Lane, Near Tulip Star Hotel, Vile Parle (West) , Juhu, Mumbai – 400049, Gujarat, India |
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Date of Appointment : |
29.10.2014 |
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PAN No.: |
AADPB1738M |
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Name : |
Ms. Priti Nitin Alkari |
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Designation : |
Company Secretary |
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Address : |
6 D, Bay House, Eden Woods Society Off Pokhran Road No. 2, Thane – (West), Thane – 400610, Maharashtra, India |
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Date of Appointment : |
15.02.2011 |
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PAN No.: |
AEAPA1852J |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Raymond Limited |
|
2218119 |
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Raymond Limited j/w S.L. Pokharna |
|
541 |
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Raymond Limited j/w Rameez Shaikh |
|
108 |
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Raymond Limited j/w Vijay Patil
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|
108 |
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Raymond Limited j/w Priti Alkari |
|
108 |
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Raymond Limited j/w Arun Agarwal
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|
108 |
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Raymond Limited j/w Thomas Fernandes |
|
108 |
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Total |
|
2219200 |
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Names of Shareholders [Preference Shares] |
|
No. of Shares |
|
Raymond Limited |
|
3430000 |
AS ON 02.06.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Bodies corporate] |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designing and Branding of apparel and apparel accessories which
are either outsourced as traded goods or manufactured through contract
vendors. [Registered Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Dalal and Shah LLP Chartered Accountants |
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Address : |
252, Veer Sawarkar, Marg ,Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
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PAN No.: |
AAAFD0907D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Raymond Limited, India [CIN No.: L17117MH1925PLC001208] |
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Subsidiary Company: |
Colorplus Fashions Limited [CIN No.: U51102MH1987PLC260720] |
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Fellow Subsidiary
Companies : [As On 31.03.2016] |
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Joint Ventures: [As On 31.03.2016] |
Raymond Uco Denim Private Limited |
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Related Party which
has significant influence: [As On 31.03.2016] |
J.K. Investors (Bombay) Limited |
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Other Related
Parties where significant influence exists: [As On 31.03.2016] |
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CAPITAL STRUCTURE
AS ON 02.06.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23500000 |
Equity Shares |
INR 10/- each |
INR 235.000 Million |
|
5280000 |
Preference Shares |
INR 100/- each |
INR 528.000 Million |
|
|
Total |
|
INR 763.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2219200 |
Equity Shares |
INR 10/- each |
INR 22.192 Million |
|
3430000 |
Preference Shares |
INR 100/- each |
INR 343.000 Million |
|
|
Total |
|
INR 365.192
Million |
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23500000 |
Equity Shares |
INR 10/- each |
INR 235.000 Million |
|
5280000 |
Preference Shares |
INR 100/- each |
INR 528.000 Million |
|
|
Total |
|
INR 763.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
3430000 |
Preference Shares |
INR 100/- each |
INR 343.000 Million |
|
|
Total |
|
INR 363.000
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
363.000 |
363.000 |
363.000 |
|
(b) Reserves and Surplus |
1495.476 |
1280.410 |
1352.526 |
|
(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) |
1858.476 |
1643.410 |
1715.526 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
45.596 |
394.200 |
457.800 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
68.126 |
72.063 |
72.878 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
113.722 |
466.263 |
530.678 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1013.148 |
654.162 |
673.340 |
|
(b) Trade
payables |
1171.906 |
1046.997 |
608.737 |
|
(c) Other
current liabilities |
513.633 |
353.957 |
160.877 |
|
(d) Short-term
provisions |
39.994 |
67.684 |
26.182 |
|
Total Current
Liabilities (4) |
2738.681 |
2122.800 |
1469.136 |
|
|
|
|
|
|
TOTAL |
4710.879 |
4232.473 |
3715.340 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
256.736 |
209.608 |
187.520 |
|
(ii)
Intangible Assets |
12.396 |
16.678 |
18.763 |
|
(iii) Tangible assets
capital work-in-progress |
10.560 |
20.055 |
0.723 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
634.451 |
634.451 |
634.451 |
|
(c) Deferred tax assets (net) |
199.231 |
181.615 |
175.076 |
|
(d)
Long-term loans and advances |
303.142 |
312.047 |
296.803 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1416.516 |
1374.454 |
1313.336 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2207.410 |
1975.316 |
1568.230 |
|
(c) Trade
receivables |
1003.862 |
814.102 |
753.968 |
|
(d) Cash and
bank balances |
2.059 |
3.285 |
9.754 |
|
(e)
Short-term loans and advances |
69.978 |
49.733 |
53.781 |
|
(f) Other
current assets |
11.054 |
15.583 |
16.271 |
|
Total
Current Assets |
3294.363 |
2858.019 |
2402.004 |
|
|
|
|
|
|
TOTAL |
4710.879 |
4232.473 |
3715.340 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
8401.373 |
7008.382 |
5934.677 |
|
|
Other Income |
64.338 |
22.577 |
36.695 |
|
|
TOTAL |
8465.711 |
7030.959 |
5971.372 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
559.042 |
590.109 |
691.895 |
|
|
Purchases of
Stock-in-Trade |
3884.784 |
3443.755 |
1871.677 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(179.319) |
(490.926) |
121.705 |
|
|
Employee benefit expense |
521.538 |
432.803 |
383.175 |
|
|
CSR expenditure |
1.100 |
2.600 |
0.000 |
|
|
Other expenses |
3087.824 |
2641.012 |
2538.548 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
10.460 |
|
|
TOTAL |
7874.969 |
6619.353 |
5617.460 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
590.742 |
411.606 |
353.912 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
112.064 |
77.128 |
137.090 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
478.678 |
334.478 |
216.822 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
147.728 |
102.129 |
144.617 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
330.950 |
232.349 |
72.205 |
|
|
|
|
|
|
|
Less |
TAX |
115.884 |
77.461 |
(9.652) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
215.066 |
154.888 |
81.857 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
126.864 |
116.991 |
94.402 |
|
|
TOTAL EARNINGS |
126.864 |
116.991 |
94.402 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
20.179 |
39.220 |
10.321 |
|
|
Components and spare
parts |
852.046 |
692.395 |
563.779 |
|
|
Capital Goods |
0.000 |
0.000 |
0.231 |
|
|
TOTAL IMPORTS |
872.225 |
731.615 |
574.331 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
107.53 |
65.06 |
28.89 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
348.600 |
63.600 |
63.600 |
|
Net cash flows from (used in) operations |
257.314 |
354.389 |
620.453 |
|
Net cash flows from (used in) operating activities |
171.903 |
295.940 |
592.479 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
43.61 |
42.40 |
46.37 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
8.37 |
8.61 |
7.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
96.26 |
94.74 |
86.67 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.27 |
0.21 |
0.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.11 |
1.67 |
1.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.67 |
0.61 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.76 |
0.68 |
0.70 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.47 |
1.29 |
0.86 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.15 |
0.15 |
0.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
5.27 |
5.34 |
2.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
2.56 |
2.21 |
1.38 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.57 |
3.66 |
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
11.57 |
9.42 |
4.77 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.20 |
1.35 |
1.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.40 |
0.42 |
0.57 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.39 |
0.39 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.88 |
3.06 |
3.29 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.20 |
1.35 |
1.63 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
363.000 |
363.000 |
363.000 |
|
Reserves & Surplus |
1352.526 |
1280.410 |
1495.476 |
|
Net
worth |
1715.526 |
1643.410 |
1858.476 |
|
|
|
|
|
|
Long Term borrowings |
457.800 |
394.200 |
45.596 |
|
Short Term borrowings |
673.340 |
654.162 |
1013.148 |
|
Current Maturities of Long term debt |
63.600 |
63.600 |
348.600 |
|
Total
borrowings |
1194.740 |
1111.962 |
1407.344 |
|
Debt/Equity
ratio |
0.696 |
0.677 |
0.757 |
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
|
5934.677 |
7008.382 |
8401.373 |
|
|
|
18.092 |
19.876 |
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
|
5934.677 |
7008.382 |
8401.373 |
|
Profit |
81.857 |
154.888 |
215.066 |
|
|
1.38% |
2.21% |
2.56% |
LEGAL
CASE
HIGH COURT
|
KAMGAR UTKARSHA SABHA VS RAYMOND APPAREL LIMITED |
|
high court-Mumbai |
|
Case no:30. WP/7731/2010 |
|
Case status:Pending |
|
Judge:HON'BLE SMT. JUSTICE RANJANA DESAIHON'BLE SMT. JUSTICE V.K. TAHILRAMANI |
|
Date:2010-12-10T00:00:00Z |
HIGH COURT
|
MATA HARSHA RAMPHER MISHR A VS MS. RAYMOND APPAREL LIMITED AND ANR |
|
high court-Mumbai |
|
Case no:57. FA/1422/2010 |
|
Case status:Pending |
|
Judge:REGISTRAR (JUDICIAL - I) |
|
Date:2011-04-15T00:00:00Z |
HIGH COURT
|
MATA HARSHA RAMPHER MISHR A VS MS. RAYMOND APPAREL LIMITED AND ANR FOR |
|
high court-Mumbai |
|
Case no:10. CAF/3655/2010 |
|
Case status:Pending |
|
Judge:HON'BLE SHRI JUSTICE V.C. DAGA |
|
Date:2010-10-19T00:00:00Z |
HIGH COURT
|
MATA HARSHA RAMPHER MISHR A VS MS. RAYMOND APPAREL LIMITED AND ANR AS PER COURTS ORDER DT OF DOCUMENT TILL |
|
high court-Mumbai |
|
Case no:96. FA/1422/2010 |
|
Case status:Pending |
|
Judge:REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
Date:2011-02-18T00:00:00Z |
HIGH COURT
|
PR. COMMISSIONER OF INCOM VS MS. RAYMOND APPAREL LIMITED Assessment Year 20082009. |
|
high court-Maharashtra |
|
Case no:ITXA/377/2015 Lower Court Details : Case No.-ITXA/720/2012, Decision Dt.-27/08/2014, |
|
Case status:Pending |
|
Judge:HON'BLE SHRI JUSTICE S.V. GANGAPURWALA HON'BLE SHRI JUSTICE A.M. BADAR |
|
Date:2017-07-26 |
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 |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: The registered
address of the company has been shifted From C10, Industrial Estate, Ambattur,
Chennai – 600058, Tamilnadu, India to the present registered address.
GENERAL INFORMATION
[As On 31.03.2016]
Subject is one of India’s largest and most respected Branded apparel company. The Company brings to the consumers best of fabric and style through some of the country’s most prestigious brands – Park Avenue, Parx and Raymond Ready to Wear.
The Company focuses on designing and branding of apparel and apparel accessories which are either outsourced as traded goods or manufactured through contract vendors. The Company sells primarily in India through independent retailers, large format stores and its own retail outlets.
FINANCIAL SUMMARY /
PERFORMANCE OF THE COMPANY (STANDALONE): [As On 31.03.2016]
This Company brings to the customers the best of fabrics and styling through some of India’s most prestigious brands – Raymond Premium Apparel, Park Avenue and Parx. The Gross Revenue of the Company for FY 2016 stood at INR 8402.300 million (Previous Year: INR 7023.100 million). Profit after tax for the year stood at INR 215.100 million (Previous Year: INR 154.900 million).
The growth is driven by strong performance across all three Brands. Multiple strategic initiatives undertaken have helped to reduce input costs and improve design and quality, thus resulting in higher efficiency and effective supply chain management.
There are no material changes or commitments affecting the financial position of the Company which have occurred between the end of the financial year and the date of this Report.
UNSECURED LOANS:
|
Particulars |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Fully convertible debentures intercorporate |
0.000 |
285.000 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
186.452 |
72.316 |
|
Total |
186.452 |
357.316 |
INDEX OF CHARGE:
|
S.No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B23515687 |
90240704 |
BANK OF MAHARSHTRA |
29/07/2000 |
28/09/2011 |
- |
1500000000.0 |
NAUPADA BRANCH GOKHALE ROAD, THANE WEST, THANE – 400602, MAHARASHTRA, INDIA |
|
2 |
G75520460 |
10404750 |
BANK OF MAHARASHTRA |
24/01/2013 |
- |
03/01/2018 |
300000000.0 |
NAUPADA BRANCH GOKHALE ROAD, THANE WEST, THANE – 400606, MAHARASHTRA, INDIA |
|
3 |
C05327739 |
90241645 |
BANKI OF MAHARASHTRA |
16/11/2005 |
- |
12/05/2014 |
15000000.0 |
NAUPAD BR.; GOKHALE ROAD, THANe -400602, MAHARASHTRA, INDIA |
|
4 |
B93926657 |
10090755 |
BANK OF MAHARASHTRA |
21/12/2007 |
- |
23/12/2013 |
250000000.0 |
NAUAPDA BRANCH, GOKHALE ROAD, THANE WEST, THANE – 400602, MAHARASHTRA, INDIA |
|
5 |
B44830271 |
10034201 |
BANK OF MAHARASHTRA |
18/12/2006 |
- |
16/07/2012 |
250000000.0 |
NAUPADA BRANCH, GOKHALE ROAD, THANE – 400602, MAHARASHTRA, INDIA |
|
6 |
B03736089 |
10081654 |
BANK OF MAHARASHTRA |
07/11/2007 |
- |
20/01/2011 |
60000000.0 |
INDUSTRIAL FINANCE
BRANCH,DR. V.B. GANDHI MARG, FORT, MUMBAI – 400001, MAHARASHTRA, INDIA |
|
7 |
A98733934 |
10125750 |
BANK OF MAHARASHTRA |
28/08/2008 |
- |
11/11/2010 |
253600000.0 |
NAUPADA BRANCH GOKHALE ROAD, THANE WEST, THANE – 400602, MAHARASHTRA, INDIA |
|
8 |
A98731839 |
10125749 |
BANK OF MAHARASHTRA |
28/08/2008 |
- |
11/11/2010 |
115000000.0 |
NAUPADA BRANCH GOKHALE ROAD, THANE WEST, THANE – 400602, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
Claims against company not acknowledged as debt |
53.691 |
26.074 |
FIXED ASSETS:
Tangible Assets
· Plant and equipment
· Furniture and Fixture
· Computer
· Vehicles
· Motor vehicles
· Office equipment
· Computer Equipments
· Leasehold improvements
Intangible assets
- Computer software
WEBSITE DETAILS
PRESS RELEASE/ NEWS:
RAYMOND SLIPS AFTER
NCLT APPROVES AMALGAMATION OF SUBSIDIARIES
NCLT, Mumbai Bench on
Wednesday has sanctioned the composite Scheme of Arrangement of Raymond Apparel
Limited.
August 03, 2017
ational Company Law Tribunal (NCLT), Mumbai Bench on Wednesday has sanctioned the composite Scheme of Arrangement of Raymond Apparel Limited (RAL) wholly-owned subsidiary of the company and Color Plus Fashions wholly-owned subsidiary of RAL.
Post development, the stock on Thursday’s trade slipped over 1% at INR 768.70
per share on BSE at 1130 hours. The stock on NSE has attracted a traded volume
of 228272 shares and a traded value INR 174.815 million. The stock has been
maintaining a dividend payout of 24.75%. It has delivered a growth of
8.16% over past 5 years and has a return on equity of 4.97% for last 3 years.
Raymond is an Indian lifestyle, textile and branded Apparel
Company. The company is engaged in Wool and Wool Blended Fabric, and Shirting
Fabric. Its segments are Textile, which includes Branded Fabric; Denim &
Shirting.
Stock view:
Raymond Ltd is currently trading at INR 768.6, down by INR 8.1 or 1.04% from
its previous closing of INR 776.7 on the BSE.
The scrip opened at INR 778 and has touched a high and low of INR 778 and INR
756.6 respectively. So far 372593(NSE+BSE) shares were traded on the counter.
The current market cap of the company is INR 47674.500 million.
The BSE group 'A' stock of face value INR 10 has touched a 52 week high of INR
839.8 on 06-Jul-2017 and a 52 week low of INR 398.15 on 23-Aug-2016. Last one
week high and low of the scrip stood at INR 813.85 and INR 774.3 respectively.
The promoters holding in the company stood at 42.56 % while Institutions
and Non-Institutions held 27.43 % and 28.71 % respectively.
The stock is currently trading above its 50 DMA.
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 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 64.94 |
|
|
1 |
INR 90.72 |
|
Euro |
1 |
INR 80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.