|
|
|
MIRA INFORM REPORT
|
Report No. : |
507697 |
|
Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
LILLIPUT KIDSWEAR LIMITED (w.e.f.18.10.2006) |
|
|
|
|
Formerly Known
As : |
LILLIPUT KIDSWEAR PRIVATE LIMITED (w.e.f.15.07.2006) ANAND CHILDREN WEAR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-95, Phase-1, Okhla Industrial Area, New Delhi -
110020 |
|
Tel. No.: |
91-11-66462000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.08.2003 |
|
|
|
|
Com. Reg. No.: |
55-121787 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1129.527 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18202DL2003PLC121787 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAECA3031E1ZB |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA3031E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Apparels and Related
Accessories. [From Indirect
Sources] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
D |
|
Credit Rating |
Explanation |
Rating Comments |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
Status : |
Under Liquidation |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
As per Registrar of Companies the status of the company is shown as “Under
Liquidation”. Management has denied to provide information about the subject. It is also noted that the company is listed on “Official Liquidator, high court of Delhi” under “Liquidation Section IV”, Registration No. 66/2012. Further, it is also noted that the date of winding up of the company was 02.01.2014. No further information could be made available from any other sources. In view of under liquidation, we do not recommend any business dealing with the subject. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 07.05.2018
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 : |
Not Divulged |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-11-66462000 |
|
Date : |
06.05.2018 |
91-11-66462001 – Ringing
LOCATIONS
|
Registered Office : |
D-95, Phase-1, Okhla Industrial Area, New Delhi –
110020, India |
|
Tel. No.: |
91-11-66462000 |
|
Fax No.: |
91-11-26818282 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 403 - Sector 8,
IMT-Maneser-Gurugram, Haryana, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sanjeev Narula |
||||||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||||||
|
Address : |
E-109, GK Part II, New Delhi – 110048, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
26.08.1965 |
||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2006 |
||||||||||||||||||||||||
|
PAN No.: |
AABPN4342B |
||||||||||||||||||||||||
|
DIN No.: |
00774002 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Gajender Sarup Sharma |
||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||
|
Address : |
House No. 737,Vill-Mewla Maharajpur, Sector-28, Faridabad
-121008, Haryana,
India |
||||||||||||||||||||||||
|
Date of Appointment : |
14.03.2013 |
||||||||||||||||||||||||
|
DIN No.: |
06527788 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Gurpreet Singh |
||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||
|
Address : |
B-18 F, No. 101, Ground Floor, Vishwakarma Colony, M B
Road, New Delhi -110044, India |
||||||||||||||||||||||||
|
Date of Appointment : |
15.09.2014 |
||||||||||||||||||||||||
|
DIN No.: |
06930596 |
||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kunal Madaan |
|
Designation : |
Company Secretary |
|
Address : |
3159, Jawahar Colony, Faridabad -121005, Haryana, India |
|
Date of Appointment : |
05.12.2013 |
|
PAN No.: |
BCWPM1598Q |
MAJOR SHAREHOLDERS
AS ON 26.11.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sanjeev Narula |
|
111432024 |
|
Bindiya Narula |
|
600000 |
|
Madan Lal Narula |
|
12000 |
|
Sanjay Narula |
|
12000 |
|
Nirmal Narula |
|
895200 |
|
Seema Puri |
|
1200 |
|
Arun Jain |
|
20 |
|
|
|
|
|
Total |
|
112952444 |
|
Names of Allottee |
|
No. of Shares |
|
Sanjeev Narula |
|
6683750 |
|
|
|
|
|
Total |
|
6683750 |
AS ON 26.11.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturing and Selling of Apparels and Related
Accessories. [From Indirect
Sources] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity per annum |
Actual
Production |
|
|
|
|
|
|
|
Garments |
(Pieces) |
N.A |
12,000,000 |
10,220,531 |
|
|
|
|
|
|
Note:
The Company is not operating under the Licence hence the Licence capacity is not applicable.
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Customers : |
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|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
K.M. Agarwal And Company Chartered Accountants |
|
Address : |
36, Netaji Subhash Marg, Daryaganj, New Delhi, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives (as on 31.03.2012): |
Apex Travel and Tours |
|
|
|
|
Subsidiaries (as on 31.03.2012): |
· Lilliput Kidswear (Sourcing) Limited [U51909DL2011PLC216352] · Lilliput E-commerce Limited [U72200DL2011PLC221010] · Lilliput Middle - East Holding (W.L.L) ·
Lilliput Kidswear China Limited |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 10/- each |
INR 1500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
119636194 |
Equity Shares |
INR 10/- each |
INR 1196.362
Million |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 10/- each |
INR 1500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
112952744 |
Equity Shares |
INR 10/- each |
INR 1129.527
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
1129.527 |
282.381 |
|
(b) Reserves & Surplus |
|
176.367 |
2823.587 |
|
(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) |
|
1305.894 |
3105.968 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2611.169 |
1013.556 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
52.219 |
|
(c)
Other long term liabilities |
|
45.524 |
50.580 |
|
(d)
long-term provisions |
|
7.765 |
7.765 |
|
Total
Non-current Liabilities (3) |
|
2664.458 |
1124.120 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
6005.967 |
1756.312 |
|
(b)
Trade payables |
|
693.687 |
509.139 |
|
(c)
Other current liabilities |
|
404.542 |
76.878 |
|
(d)
Short-term provisions |
|
4.876 |
4.576 |
|
Total
Current Liabilities (4) |
|
7109.072 |
2346.905 |
|
|
|
|
|
|
TOTAL |
|
11079.424 |
6576.993 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3427.189 |
2273.011 |
|
(ii)
Intangible Assets |
|
14.460 |
18.058 |
|
(iii)
Capital work-in-progress |
|
69.964 |
271.891 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
1.000 |
6.861 |
|
(c) Deferred tax assets
(net) |
|
707.870 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
10.216 |
8.938 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
4230.699 |
2578.759 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
4267.437 |
2269.685 |
|
(c)
Trade receivables |
|
1720.275 |
845.355 |
|
(d)
Cash and cash equivalents |
|
108.358 |
244.491 |
|
(e)
Short-term loans and advances |
|
744.774 |
631.997 |
|
(f)
Other current assets |
|
7.881 |
6.706 |
|
Total
Current Assets |
|
6848.725 |
3998.234 |
|
|
|
|
|
|
TOTAL |
|
11079.424 |
6576.993 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
236.184 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1111.167 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1347.351 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1346.940 |
|
|
2] Unsecured Loans |
|
|
489.180 |
|
|
TOTAL BORROWING |
|
|
1836.120 |
|
|
DEFERRED TAX LIABILITIES |
|
|
51.305 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3234.776 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1523.409 |
|
|
Capital work-in-progress |
|
|
33.511 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
7.404 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1009.829 |
|
|
Sundry Debtors |
|
|
591.205 |
|
|
Cash & Bank Balances |
|
|
322.915 |
|
|
Other Current Assets |
|
|
3.296 |
|
|
Loans & Advances |
|
|
275.042 |
|
Total
Current Assets |
|
|
2202.287 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
296.890 |
|
|
Other Current Liabilities |
|
|
228.460 |
|
|
Provisions |
|
|
6.485 |
|
Total
Current Liabilities |
|
|
531.835 |
|
|
Net Current Assets |
|
|
1670.452 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3234.776 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5822.555 |
6565.761 |
3391.691 |
|
|
|
Other Income |
96.379 |
161.494 |
115.336 |
|
|
|
TOTAL |
5918.934 |
6727.255 |
3507.027 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1016.344 |
1504.967 |
|
|
|
|
Purchases of Stock-in-Trade |
4181.158 |
2403.718 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1784.393) |
(1156.265) |
|
|
|
|
Employees benefits expense |
901.801 |
782.763 |
|
|
|
|
Other expenses |
2880.986 |
2192.307 |
|
|
|
|
Extraordinary Items |
348.320 |
0.000 |
|
|
|
|
TOTAL |
7544.216 |
5727.490 |
2833.335 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(1625.282) |
999.765 |
673.692 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
589.362 |
254.398 |
191.107 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(2214.644) |
745.367 |
482.585 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
345.220 |
176.520 |
104.416 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(2559.864) |
568.847 |
378.169 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(759.790) |
171.134 |
128.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1800.074) |
397.713 |
250.126 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods at FOB value |
1278.299 |
1714.959 |
1170.433 |
|
|
|
Royalty Income |
0.000 |
4.254 |
4.600 |
|
|
TOTAL EARNINGS |
1278.299 |
1719.213 |
1175.033 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
76.263 |
30.958 |
|
|
|
Finished Goods and Accessories |
|
734.613 |
76.222 |
|
|
|
Capital Goods |
|
71.891 |
0.000 |
|
|
TOTAL IMPORTS |
NA
|
882.767 |
107.180 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic
|
(15.94) |
3.53 |
2.31 |
|
|
|
Diluted
|
(15.94) |
3.53 |
2.28 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
107.84 |
46.99 |
63.62 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.38 |
7.77 |
5.74 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
48.71 |
47.54 |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.38) |
0.44 |
0.67 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.46) |
0.39 |
0.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.88 |
0.51 |
0.63 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
6.60 |
0.89 |
1.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
5.44 |
0.76 |
0.76 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.69 |
0.83 |
1.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(2.76) |
3.93 |
3.53 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(30.92) |
6.06 |
7.37 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(16.25) |
6.05 |
6.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(137.84) |
12.80 |
18.56 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.96 |
1.70 |
2.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.36 |
0.74 |
1.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.12 |
0.47 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.63 |
9.81 |
7.77 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.96 |
1.70 |
2.16 |
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 |
31.03.2011 |
31.03.2012 |
|
|
INR In Million |
INR In Million |
|
Share Capital |
282.381 |
1129.527 |
|
Reserves & Surplus |
2823.587 |
176.367 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net worth |
3105.968 |
1305.894 |
|
|
|
|
|
long-term borrowings |
1013.556 |
2611.169 |
|
Short term borrowings |
1756.312 |
6005.967 |
|
Total borrowings |
2769.868 |
8617.136 |
|
Debt/Equity ratio |
0.892 |
6.599 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
3391.691 |
6565.761 |
5822.555 |
|
|
|
93.584 |
(11.319) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
3391.691 |
6565.761 |
5822.555 |
|
Profit
/(Loss) |
250.126 |
397.713 |
(1800.074) |
|
|
7.37% |
6.06% |
(30.92%) |
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 |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (INR
In Million) |
31.03.2011 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
183.766 |
0.000 |
|
Commercial paper |
108.200 |
350.000 |
|
Other loans and advances |
1225.773 |
226.262 |
|
|
|
|
|
Total |
1517.739 |
576.262 |
NATURE OF OPERATIONS
The Company is engaged in the business of manufacturing/selling of apparels and related accessories.
FINANCIAL RESULTS/
OPERATIONS
There is difference of INR 17.600 Millions in disclosed figures for the Financial Year 2011 in finance cost due to regrouping of figures for previous year, however it has no effect on Profit/ Loss of that year due to regrouping.
The year has been very challenging for the Company. As the members are aware that during the year the Company was planning to bring its Initial Public Offering (‘IPO’) hence the Company was on an aggressive expansion plan. However in September 2011, the representatives of then shareholders namely BC India Private Investors I and Star Markets Asia Inc. received certain anonymous calls about certain financial irregularities in the Company. Acting on such baseless anonymous calls, they withdrew their consent to the IPO and hence started the dispute among its shareholders interse. The company and the Promoter went into litigation against the investors against such unreasonable withdrawal. Although the same was a internal matter to the Company but due to high profiling of the company and investor shareholders, the matter was covered extensively in financial media which created negative publicity for the Company and resulted in the Banking facilities of the Company being put on hold as both the investors and the Banks sought the scrutiny of the Books of Accounts of the Company.
The main lender Bank had appointed Aggarwal Anil and Company Chartered Accountants as Special Auditors for conducting special audit as per scope assigned by the Bank who conducted detailed audit into the operations and books of accounts and submitted satisfactory report to the bankers. However due to the exaggerated reaction from all the corners, the business suffered. The bankers stopped releasing sanctioned limits and went into panic mode for reducing their exposures, thereby aggravating liquidity position of the company. Aggressive expansion plans went awry and company suffered heavy losses due to capital expenditure already committed. The primary reason for the panic among the suppliers was that the Banks started dishonoring the LC?s that they had issued to suppliers by pointing out minor discrepancies and returning the documents unpaid which created insecurity among the suppliers who then in turn refused to deliver the merchandise without 100% advance payment. Although the dispute was over domestic business of the company, its ramifications spilled over to the export division also as due to their investors profile the matter was covered by US media also and the buyers became apprehensive about financial stability of the company and timely deliveries of the export orders, hence they shifted/cancelled the orders already confirmed which resulted in extra-ordinary losses. Due to prolonged dispute, operations of the company suffered due to financial crunch. Although they decided to consolidate their operations and focus on the sustaining the retail operations of the Company, the operations of the Company suffered greatly therefore though they were able to retain their sales their margins came really under pressure as the stores were offering discount on merchandise throughout the year then and because they had to take such a huge write off due to these extra-ordinary reasons.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 (INR
In Millions) |
31.03.2011 (INR
In Millions) |
|
Other cases* |
Amount unascertainable |
Amount unascertainable |
|
Letters of Credit discounted with the bank |
0.000 |
339.582 |
|
|
|
|
|
Total |
0.000 |
339.582 |
|
* The Company has some pending legal cases against which the amount is
not ascertainable. On the basis of current status of individual case and as
per legal advice obtained by the Company, wherever applicable, the Company is
confident of winning the above cases and is of view that no provision is
required in respect of these cases. |
||
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
B86538196 |
10452757 |
ALLAHABAD BANK
(LEAD BANK) |
13/08/2013 |
- |
8521200000.0 |
INTERNATIONAL
BANKING BRANCH17, PARLIAMENT STREETNEW DELHIDL110001IN |
|
2 |
B80556434 |
10439346 |
STANDARD CHARTERED
BANK |
06/06/2013 |
- |
245300000.0 |
CREDIT
DOCUMENTATION UNITNARAIN MANZIL, 23 BARAKHAMBA ROADNEW DELHIDL110001IN |
|
3 |
B80819485 |
10439942 |
BANK OF INDIA |
06/06/2013 |
- |
1063700000.0 |
NEW DELHI LARGE
CORPORATE BRANCHPTI BUILDING, 4, PARLIAMENT STREETNEW DELHIDL110001IN |
|
4 |
B45330537 |
10369582 |
ALLAHABAD BANK |
07/08/2012 |
- |
4220900000.0 |
INTERNATIONAL
BRANCH17, PARLIAMENT STREETNEW DELHIDL110001IN |
|
5 |
B41600180 |
10360545 |
ORIENTAL BANK OF
COMMERCE |
21/05/2012 |
- |
89700000.0 |
OVERSEAS
BRANCHM-33 GREATER KAILASH PART-2NEW DELHIDL110048IN |
|
6 |
B44484509 |
10360551 |
ORIENTAL BANK OF
COMMERCE |
21/05/2012 |
30/06/2012 |
917000000.0 |
OVERSEAS
BRANCHM-33 GREATER KAILASH PART-2NEW DELHIDL110048IN |
|
7 |
B41601295 |
10360548 |
ORIENTAL BANK OF
COMMERCE |
21/05/2012 |
- |
275700000.0 |
OVERSEAS
BRANCHM-33 GREATER KAILASH PART-2NEW DELHIDL110048IN |
|
8 |
B38132163 |
10351495 |
BANK OF INDIA |
18/04/2012 |
- |
250000000.0 |
NEW DELHI LARGE
CORPORATE BRANCHPTI BUILDING, 4 SANSAD MARGNEW DELHIDL110001IN |
|
9 |
B19247220 |
10303378 |
FIRST LEASING
COMPANY OF INDIA LIMITED |
15/07/2011 |
- |
150000000.0 |
749, ANNA
SALAI,CHENNAITN600002IN |
|
10 |
B18891325 |
10302432 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
13/07/2011 |
- |
940000000.0 |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
·
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,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.77 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.