|
|
|
MIRA INFORM REPORT
|
Report No. : |
443117 |
|
Report Date : |
11.05.2017 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE LIFESTYLE FASHIONS LIMITED (w.e.f. 04.12.2012) |
|
|
|
|
Formerly Known
As : |
FUTURE VALUE FASHION RETAIL LIMITED |
|
|
|
|
Registered
Office : |
Knowledge House, Shyam Nagar, Off. Jogeshwari - Vikhroli Link Road,
Jogeshwari (East), Mumbai – 400060, Maharashtra |
|
Tel. No.: |
91-22-30842336 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.05.2012 |
|
|
|
|
Com. Reg. No.: |
11-231654 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 380.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L52100MH2012PLC231654 |
|
|
|
|
IEC No.: |
0312079206 |
|
|
|
|
TAN No.: |
MUMF06915G |
|
|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
27AABCF9869N1ZQ |
|
|
|
|
TIN No : |
27860969669 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF9869N |
|
|
|
|
Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of fashion design related to textiles, wearing apparel, shoes, jewelry, furniture and other fashion goods/ accessories. (Registered Activity) |
|
|
|
|
No. of Employees
: |
9221 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was incorporated in the year 2012. It is a part of Future Group. The company is in the business of managing the lifestyle fashion segment of the Future Group. FLFL (Future Lifestyle Fashions Limited) has two major business divisions: fashion retailing and investments in fashion companies. It has a portfolio of fashion brands that cover a range of fashion categories including formal menswear, casual wear, active or sportswear, women’s ethnic wear, women’s denim wear, women’s casual wear, footwear and accessories. As per the quarterly results of December 2017, the company has achieved sales turnover of INR 12256 million along with average profit margin. The rating takes into consideration the company’s strong financial position marked by robust net worth base along with low debt balance sheet profile. The company has its share price trading at around INR 432.95 on BSE as on May 7, 2018 as against the Face Value (FV) of INR 2. Business is active. Payment seems to be regular. In view aforesaid, the company can be considered for 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 |
|
Rating |
Long term Loans = A- |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
11.07.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
11.07.2017 |
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
31-03-2018.
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 11.05.2018
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
MANAGEMENT NON CO-OPERATIVE (91-22-30842336)
LOCATIONS
|
Registered Office : |
Knowledge House, Shyam Nagar, Off. Jogeshwari - Vikhroli Link Road,
Jogeshwari (East), Mumbai – 400060, Maharashtra, India |
|
Tel. No. : |
91-22-30842336/28212295 / 66442200 |
|
Fax No. : |
91-22-66442201/30842501/619955019 |
|
E-Mail : |
sanjay.mutha@futurelifestyle.in
|
|
Website : |
|
|
|
|
|
Corporates
Office /Branch Home Office : |
Tower C, 247 Park, LBS Marg, Vikhroli (West), Mumbai – 400083,
Maharashtra, India |
|
Tel. No. : |
91-22-61190000 |
|
Fax No.: |
91-22-61995019 / 61995223 |
|
Email : |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Kishore Laxminarayan Biyani |
|
Designation : |
Managing Director |
|
Address : |
406, Jeevan Vihar, Manav Mandir Road, Malabhar Hill Mumbai - 400006,
Maharashtra, India |
|
Date of Appointment : |
06.12.2012 |
|
DIN No.: |
00005740 |
|
|
|
|
Name : |
Mr. Rakesh Biyani |
|
Designation : |
Director |
|
Address : |
Flat No 1903,19th Floor, B Wing, Vivarea Building Sane Guruji Marg,
Jacob Cir Cle, Mumbai - 400011, Maharashtra, India |
|
Date of Appointment : |
10.06.2013 |
|
DIN No.: |
00005806 |
|
|
|
|
Name : |
Mr. Shailesh Vishnubhai Haribhakti |
|
Designation : |
Director |
|
Address : |
10 and 11 Sahil Apartment, S K Barodawala Road, 14 Altamount Road,
Cumballa Hill, Mumbai - 400026, Maharashtra, India |
|
Date of Appointment : |
10.06.2013 |
|
DIN No.: |
00007347 |
|
|
|
|
Name : |
Ms. Sharda Ashwini Agarwal |
|
Designation : |
Director |
|
Address : |
1301, Marathon Heights P.B. Marg, Worli Mumbai -400013, Maharashtra,
India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
00022814 |
|
|
|
|
Name : |
Darlie Oommen Koshy |
|
Designation : |
Director |
|
Address : |
1402, Tower-2, Orchid Petals, Sector-49, Sohna Road, Gurugram -
122002, Haryana, India |
|
Date of Appointment : |
10.06.2013 |
|
DIN No.: |
00023527 |
|
|
|
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
A-407.408,A-Wing, Oberoi Splendor, Jogeshwari Vikhroli Link Road,
Andheri (East), Mumbai -400060, Maharashtra, India |
|
Date of Appointment : |
02.03.2013 |
|
DIN No.: |
00036303 |
|
|
|
|
Name : |
Bijou Kurien |
|
Designation : |
Director |
|
Address : |
#33.2, Grant Road, Bangalore - 560001, Karnataka, India |
|
Date of Appointment : |
26.05.2016 |
|
DIN No.: |
01802995 |
|
|
|
|
Name : |
Avni Kishorkumar Biyani |
|
Designation : |
Director |
|
Address : |
406, Jeevan Vihar Manav Mandir Road, Malabar Hill, Mumbai - 400006,
Maharashtra, India |
|
Date of Appointment : |
07.06.2016 |
|
DIN No.: |
02177900 |
KEY EXECUTIVES
|
Name : |
Sanjay Kumar Mutha |
|
Designation : |
Company Secretary |
|
Address : |
D-103, Riviera CHS Limited Lokhandwala Township, Akurli Road, Kandi
Vali (East), Mumbai -400101, Maharashtra, India |
|
Date of Appointment : |
17.03.2015 |
|
PAN No.: |
AHYPM7787M |
|
|
|
|
Name : |
Mr. Kaleeswaran Arunachalam |
|
Designation : |
Chief Finance Officer |
|
Address : |
3b, Syrian Church Road No. 1 Coimbatore -641001, Tamilnadu, India |
|
Date of Appointment : |
26.05.2016 |
|
PAN No.: |
AGCPA7899K |
SHAREHOLDING PATTERN
AS ON March 2018
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter Group |
115241065 |
60.52 |
|
|
(B) Public |
75172772 |
39.48 |
|
|
Grand Total |
190413837 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
38933 |
0.02 |
|
|
Avni Kishorkumar Biyani |
19499 |
0.01 |
|
|
Ashni Kishore Biyani |
16770 |
0.01 |
|
|
Anil Biyani |
333 |
0.00 |
|
|
Gopikishan Biyani |
333 |
0.00 |
|
|
Kishore Biyani |
333 |
0.00 |
|
|
Laxminarayan Biyani |
333 |
0.00 |
|
|
Rakesh Biyani |
333 |
0.00 |
|
|
Sunil Biyani |
333 |
0.00 |
|
|
Vijay Biyani |
333 |
0.00 |
|
|
Vivek Biyani |
333 |
0.00 |
|
|
Any Other (specify) |
115202132 |
60.50 |
|
|
Future Enterprises Limited |
0.00 |
||
|
Ryka Commercial Ventures Private Limited |
104647747 |
54.96 |
|
|
Future Ideas Company Limited |
3600195 |
1.89 |
|
|
Central Departmental Stores Private Limited |
100 |
0.00 |
|
|
Future Capital Investment Private Limited |
2197 |
0.00 |
|
|
Akar Estate And Finance Private Limited |
333 |
0.00 |
|
|
Suhani Trading and Investment Consultants Private Limited |
6393522 |
3.36 |
|
|
Surplus Finvest Private Limited |
558038 |
0.29 |
|
|
Sub Total A1 |
115241065 |
60.52 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
115241065 |
60.52 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
|||
|
Mutual Funds/ |
10992725 |
5.77 |
|
|
L And T Mutual Fund Trustee Ltd-L And T India Value Fund |
7619297 |
4.00 |
|
|
IDFC Premier Equity Fund |
3049501 |
1.60 |
|
|
Venture Capital Funds |
6200000 |
3.26 |
|
|
PI Opportunities Fund I |
6200000 |
3.26 |
|
|
Alternate Investment Funds |
15527950 |
8.15 |
|
|
Pioneer Investment Fund |
15527950 |
8.15 |
|
|
Foreign Portfolio Investors |
10241915 |
5.38 |
|
|
Timf Holdings |
5104291 |
2.68 |
|
|
Hsbc Global Investment Funds - Indian Equity |
2141418 |
1.12 |
|
|
Financial Institutions/ Banks |
132385 |
0.07 |
|
|
Insurance Companies |
3814251 |
2.00 |
|
|
Life Insurance Corporation of India |
3611335 |
1.90 |
|
|
Sub Total B1 |
46909226 |
24.64 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
5621672 |
2.95 |
|
|
Individual share capital in excess of INR 0.200 Million |
9807149 |
5.15 |
|
|
Lata Bhanshali |
3497905 |
1.84 |
|
|
Any Other (specify) |
12834725 |
6.74 |
|
|
Trusts |
467 |
0.00 |
|
|
Foreign Nationals |
33 |
0.00 |
|
|
HUF |
444758 |
0.23 |
|
|
Non-Resident Indian (NRI) |
219349 |
0.12 |
|
|
Clearing Members |
332619 |
0.17 |
|
|
Bodies Corporate |
11837499 |
6.22 |
|
|
Bennett, Coleman And Company Limited |
4562748 |
2.40 |
|
|
Sub Total B3 |
28263546 |
14.84 |
|
|
B=B1+B2+B3 |
75172772 |
39.48 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of fashion design related to textiles, wearing apparel, shoes, jewelry, furniture and other fashion goods/ accessories. (Registered Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
9221 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
NGS and Company Chartered Accountants |
|
Address : |
B-46, Pravasi Industrial Estate, V.N. Road, Goregaon
(East), Mumbai-400063, Maharashtra, India |
|
Tel No.: |
91-22-42173337 |
|
Email: |
|
|
Website: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3313D |
|
|
|
|
Internal Auditor : |
Ernst & Young |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Companies : |
|
|
|
|
|
Subsidiary
Companies: |
|
|
|
|
|
Associate
Companies: |
|
|
|
|
|
Joint Ventures: |
|
|
|
|
|
Enterprises over
which key managerial personnel are able to exercise significant influence: |
|
CAPITAL STRUCTURE
After 29.08.2017
Authorised Capital : INR
500.000 Million
Issued, Subscribed & Paid-up Capital : INR 380.827
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,00,00,000 |
Equity Shares |
INR 2/- each |
INR 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19,00,13,456 |
Equity Shares |
INR 2/- each |
INR 380.000 Million |
|
|
|
|
|
Reconciliation of
the number of shares
|
Equity Share of INR
2 each |
Number
of Shares |
|
At the beginning of the year |
18,96,12,458 |
|
Add : Issued during the year |
4,00,998 |
|
At the end of the
year |
19,00,13,458 |
Terms/Rights Attached
to Equity Shares
The Company has only one class of equity shares having a par value of INR 2/- per share. Each holder of equity share is entitled to one vote per share.
The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distributions will be in proportion to the number of equity shares held by the shareholders.
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Ryka Commercial Ventures Private Limited |
10,42,79,275 |
54.88 |
|
Pioneer Investment Fund |
1,55,27,950 |
8.17 |
|
PIL Industries Limited |
21,05,790 |
1.11 |
|
Future Corporate Resources Limited |
101 |
0.00 |
|
Future Enterprises Limited |
- |
- |
|
PI Opportunities Fund - I |
- |
- |
Shares allotted as
fully paid up without payment received in cash (during 5 years preceding March
31, 2017):
12,87,41,832 Equity Shares of INR 2 each fully paid-up pursuant to Composite Scheme of Arrangement and Amalgamation.
Share reserved for issue under Options and contracts, including the terms and amounts :
For details of Shares reserved for issue under the Employee Stock Options Scheme (ESOS) of the Company
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
380.000 |
379.200 |
372.400 |
|
(b) Reserves & Surplus |
16350.400 |
15853.200 |
15324.800 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Compulsory Convertible
Debentures |
0.000 |
0.000 |
300.000 |
|
Total
Shareholders’ Funds (1) + (2) |
16730.400 |
16232.400 |
15997.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2700.800 |
6739.800 |
10476.100 |
|
(b) Deferred tax liabilities
(Net) |
649.200 |
708.700 |
649.700 |
|
(c) Other long term
liabilities |
707.900 |
614.400 |
662.000 |
|
(d) long-term provisions |
125.000 |
87.100 |
70.600 |
|
Total
Non-current Liabilities (3) |
4182.900 |
8150.000 |
11858.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2122.900 |
2415.600 |
717.900 |
|
(b) Trade payables |
11330.800 |
9215.800 |
8287.500 |
|
(c) Other current liabilities |
3170.100 |
3694.300 |
2523.500 |
|
(d) Short-term provisions |
2.000 |
107.400 |
104.200 |
|
Total
Current Liabilities (4) |
16625.800 |
15433.100 |
11633.100 |
|
|
|
|
|
|
TOTAL |
37539.100 |
39815.500 |
39488.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12644.700 |
11995.000 |
12509.800 |
|
(ii) Intangible Assets |
98.900 |
432.700 |
509.200 |
|
(iii) Capital work-in-progress |
1898.200 |
1862.300 |
1721.200 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
70.100 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3718.100 |
3442.500 |
3058.900 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
18430.000 |
17732.500 |
17799.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
363.100 |
3754.300 |
3436.900 |
|
(b) Inventories |
14180.100 |
13050.000 |
11731.700 |
|
(c) Trade receivables |
1888.800 |
2418.500 |
2692.300 |
|
(d) Cash and cash equivalents |
298.000 |
146.200 |
596.600 |
|
(e) Short-term loans and
advances |
2235.400 |
2143.300 |
2852.200 |
|
(f) Other current assets |
143.700 |
570.700 |
379.900 |
|
Total
Current Assets |
19109.100 |
22083.000 |
21689.600 |
|
|
|
|
|
|
TOTAL |
37539.100 |
39815.500 |
39488.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
38770.700 |
33001.900 |
31340.900 |
|
|
Other Income |
66.300 |
164.900 |
217.400 |
|
|
TOTAL
|
38837.000 |
33166.800 |
31558.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
412.500 |
712.300 |
621.900 |
|
|
Purchases of Stock-in-Trade |
25188.900 |
21061.900 |
20069.300 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1149.200) |
(1318.800) |
(1497.500) |
|
|
Employees benefits expense |
2048.800 |
1885.600 |
1691.900 |
|
|
Other expenses |
8690.200 |
7409.300 |
7153.700 |
|
|
Exceptional Item |
2.800 |
0.000 |
0.000 |
|
|
TOTAL |
35194.000 |
29750.300 |
28039.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3643.000 |
3416.500 |
3519.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1172.100 |
1352.500 |
1583.300 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2470.900 |
2064.000 |
1935.700 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1869.100 |
1614.200 |
1700.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
601.800 |
449.800 |
234.800 |
|
|
|
|
|
|
|
Less |
TAX |
145.100 |
155.100 |
49.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
456.700 |
294.700 |
185.500 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
280.700 |
77.300 |
23.300 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
18.600 |
|
|
Dividend |
0.000 |
75.800 |
75.800 |
|
|
Tax on Dividend |
0.000 |
15.500 |
15.200 |
|
|
Total
(M) |
0.000 |
91.300 |
109.600 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
737.400 |
280.700 |
99.200 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Sales of Products - F.O.B.
Value of Exports |
394.600 |
350.800 |
279.400 |
|
|
TOTAL
EARNINGS |
394.600 |
350.800 |
279.400 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.400 |
0.900 |
2.000 |
|
|
Purchase of Stock-in-trade |
291.800 |
352.500 |
117.000 |
|
|
Capital Goods |
206.000 |
219.600 |
116.000 |
|
|
Accessories & Others |
16.200 |
0.000 |
2.500 |
|
|
TOTAL
IMPORTS |
514.400 |
573.000 |
237.500 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
2.410 |
1.550 |
1.070 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long-Term Borrowings |
2000.000 |
2250.000 |
1250.000 |
|
Cash generated from operations |
1315.200 |
151.600 |
(1193.900) |
|
Net Cash From Operating Activities |
5117.300 |
3583.600 |
2308.200 |
QUARTERLY RESULTS
|
Particulars |
(Unaudited) Quarter Ended
30.06.2017 |
(Unaudited) Quarter Ended
30.09.2017 |
(Unaudited) Quarter Ended
31.12.2017 |
|
|
1ST
Quarter |
2nd
Quarter |
3rd Quarter |
|
Net Sales |
10316.100 |
10217.200 |
11889.700 |
|
Total Expenditure |
9462.800 |
9334.000 |
10846.200 |
|
PBIDT (Excl OI) |
853.300 |
883.200 |
1043.500 |
|
Other Income |
62.500 |
59.100 |
113.700 |
|
Operating Profit |
915.800 |
942.300 |
1157.200 |
|
Interest |
231.400 |
239.500 |
224.600 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
684.400 |
702.800 |
932.600 |
|
Depreciation |
320.500 |
358.400 |
386.000 |
|
Profit Before Tax |
363.900 |
344.400 |
546.600 |
|
Tax |
128.700 |
110.500 |
170.100 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
235.200 |
233.900 |
376.500 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
235.200 |
233.900 |
376.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
17.78 |
26.75 |
31.35 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
20.53 |
13.65 |
11.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
161.54 |
154.48 |
146.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.26 |
0.26 |
0.30 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.25 |
0.24 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.57 |
0.61 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.41 |
0.70 |
0.78 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.99 |
0.95 |
0.73 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.88 |
0.88 |
0.92 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.11 |
2.53 |
2.22 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.18 |
0.89 |
0.59 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.22 |
0.74 |
0.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
2.73 |
1.82 |
1.16 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
1.43 |
1.86 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.30 |
0.59 |
0.86 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.45 |
0.41 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
17.96 |
30.08 |
33.42 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
1.43 |
1.86 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 02.00/- |
|
Market Value |
INR 432.95/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
372.400 |
379.200 |
380.000 |
|
Reserves & Surplus |
15324.800 |
15853.200 |
16350.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15697.200 |
16232.400 |
16730.400 |
|
|
|
|
|
|
long-term borrowings |
10476.100 |
6739.800 |
2700.800 |
|
Short term borrowings |
717.900 |
2415.600 |
2122.900 |
|
Current maturities of
long-term debts |
1250.000 |
2250.000 |
2000.000 |
|
Total
borrowings |
12444.000 |
11405.400 |
6823.700 |
|
Debt/Equity
ratio |
0.793 |
0.703 |
0.408 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Sales |
31340.900 |
33001.900 |
38770.700 |
|
|
|
5.300 |
17.480 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Sales |
31340.900 |
33001.900 |
38770.700 |
|
Profit |
185.500 |
294.700 |
456.700 |
|
|
0.59% |
0.89% |
1.18% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
|
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
380.900 |
|
(b) Reserves & Surplus |
|
|
18842.800 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Compulsory Convertible
Debentures |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
19223.700 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
2700.800 |
|
(b) Deferred tax liabilities
(Net) |
|
|
724.300 |
|
(c) Other long term
liabilities |
|
|
707.900 |
|
(d) long-term provisions |
|
|
129.600 |
|
Total
Non-current Liabilities (3) |
|
|
4262.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
2122.900 |
|
(b) Trade payables |
|
|
12247.500 |
|
(c) Other current liabilities |
|
|
3175.900 |
|
(d) Short-term provisions |
|
|
2.000 |
|
Total
Current Liabilities (4) |
|
|
17548.300 |
|
|
|
|
|
|
TOTAL |
|
|
41034.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
12917.100 |
|
(ii) Intangible Assets |
|
|
352.400 |
|
(iii) Capital work-in-progress |
|
|
3405.900 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
65.600 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
3725.300 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
20466.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
363.100 |
|
(b) Inventories |
|
|
15057.600 |
|
(c) Trade receivables |
|
|
2748.500 |
|
(d) Cash and cash equivalents |
|
|
299.400 |
|
(e) Short-term loans and
advances |
|
|
1956.000 |
|
(f) Other current assets |
|
|
143.700 |
|
Total
Current Assets |
|
|
20568.300 |
|
|
|
|
|
|
TOTAL |
|
|
41034.600 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
38770.700 |
|
|
Other Income |
|
|
66.300 |
|
|
TOTAL
|
|
|
38837.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
412.500 |
|
|
Purchases of Stock-in-Trade |
|
|
25179.900 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(1138.200) |
|
|
Employees benefits expense |
|
|
2050.800 |
|
|
Other expenses |
|
|
8694.000 |
|
|
Exceptional Item |
|
|
0.800 |
|
|
TOTAL |
|
|
35199.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
3637.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
1172.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
2465.200 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
1869.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
595.600 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
145.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
450.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
2.37 |
LEGAL CASE
Civil Court Senior Division, Thane
Case Details
Case Type: Spl.C.S. -
Spl.Civ.Suit
Filing Number: 1068/2017Filing Date: 22-03-2017
Registration Number: 216/2017Registration Date: 23-03-2017
CNR Number: MHTH02-001068-2017
Case Status
First Hearing Date: 01st
April 2017
Next Hearing Date: 14th July 2017
Stage of Case: First Order
Court Number and Judge: 1-Civil Judge Senior Division Thane
Petitioner and Advocate
1) Fashion Lifestyles (India) Pvt.
Ltd. Thr. Rohit Shah
Address - 4th Level, Centre One Shopping Mall, Sector
30/A, Plot No. 33, Vashi 400705
Advocate- Yakshay Chheda
Respondent and Advocate
1) Future Lifestyle Fashions Ltd.
Address - Knowledge House, Shaym Nagar, Off. Jogeshwari
Vikhroli Link Road, Jogeshwari East, Mumbai 400060
Acts
|
Under Act(s) |
Under Section(s) |
|
Specific Relief Act |
34 |
|
History of Case Hearing |
|
|
Registration Number |
Judge |
Business On Date |
Hearing Date |
Purpose of hearing |
|
216/2017 |
Civil Judge Senior Division Thane |
01-04-2017 |
04-04-2017 |
First Order |
|
216/2017 |
Civil Judge Senior Division Thane |
04-04-2017 |
25-04-2017 |
First Order |
|
216/2017 |
Civil Judge Senior Division Thane |
25-04-2017 |
14-07-2017 |
First Order |
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 |
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 |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
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 |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
MANAGEMENT DISCUSSION
AND ANALYSIS
GLOBAL ECONOMY
There has been significant improvement in confidence on the Global Economy. A recovery in industrial activity has coincided with a pick-up in global trade, after two years of marked weakness. In emerging market and developing economies (EMDEs), obstacles to growth among commodity exporters are gradually diminishing, while activity in commodity importers remains generally robust. As a result, and despite substantial policy uncertainty, global growth is projected to accelerate to 2.7 percent in 2017, up from a post-crisis low of 2.4 percent in 2016, before strengthening further to 2.9 percent in 2018-19, broadly in line with January projections. Global economy has also witnessed steady rise in consumption and M&A's continue to play a key role in industry consolidation.
Basis World bank report on global economic prospects growth
in major advanced economies has strengthened, and their short-term outlook has
improved, despite elevated policy uncertainty. A modest recovery should continue,
with output gaps narrowing and inflation gradually converging toward central
bank targets. U.S. monetary policy normalization is expected to proceed at a
measured pace. China's policy guided gradual transition to slower but more
sustainable growth continues as expected.
INDIAN ECONOMY
Regional output expanded by an estimated 6.7 percent in 2016, despite temporary disruptions associated with the November withdrawal and replacement of large-denomination currency notes in India, the region's largest economy.
In general, South Asian economies benefited from an improvement in exports, low oil prices, infrastructure spending, and supportive macroeconomic policies last year. In India, activity was underpinned by favourable monsoon rains that supported agriculture and rural consumption, an increase in infrastructure spending, and robust government consumption.
A pickup in regional growth is underway in 2017. In India,
recent data indicate a rebound this year, with the easing of cash shortages and
rising exports (World Bank 2017). An increase in government spending in India,
including on capital formation, has partially offset soft private investment.
While manufacturing Purchasing Managers’ Indexes have generally picked up,
industrial production has been mixed.
India’s growth is forecast to increase to 7.2 percent in FY2017 (April 1, 2017 - March 31, 2018) and accelerate to 7.7 percent by the end of the forecast horizon—slightly below previous projections. This outlook mainly reflects a more protracted recovery in private investment than previously envisaged.
Nonetheless, domestic demand is expected to remain strong, supported by ongoing policy reforms, especially the introduction of the nationwide Goods and Services Tax (GST). Significant gains by the ruling party in state elections should support the government's economic reform agenda, which aims at unlocking supply constraints, and creating a business environment that is more conducive to private investment.
The Government of India announced demonetisation of high denomination bank notes of 1000 and 500, with effect on November 8, 2016, in order to eliminate black money and the growing menace of fake Indian currency notes, thereby creating opportunities for improvement in economic growth. In the Union Budget 2017-18, the Finance Minister verified that the major push of the budget proposals is on growth stimulation, providing relief to the middle class, providing affordable housing, curbing black money, digitalisation of the economy, enhancing transparency in political funding and simplifying the tax administration in the country. India's unemployment rate has declined to 4.8 per cent in February 2017 compared to 9.5 per cent in August 2016, as a result of the Government's increased focus towards rural jobs and the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme.
INDUSTRY OVERVIEW AND
OUTLOOK
Retail in India continues to be dynamic, fast paced and ever evolving on the base of existing players and new entrants. It accounts for over 10 per cent of the country's Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world's fifth-largest global destination in the retail space. With the size of retail market expected to reach around USD 1 trillion by 2020 up from current levels of USD 600 billion, modern retail is expected to grow twice the pace of overall retail market growth at around 20% p.a.
Indian retail is one of the pillars of the Indian economy and accounts for ~25% of its GDP which is amongst the highest in the world. Indian retail has experienced high growth over the last decade with a noticeable shift towards organised retailing. In the process, India retail has become more complex and is changing at an ever-increasing speed. Factors like shifting demographics, digital penetration and acceptance, growing disposable income, competitive intensity and the war for talent, require the industry to quickly adjust and modify existing models, approaches and processes to satisfy the needs of future consumers in order to be profitable. Currently Indian retail is in a dynamic and exciting phase.
Modern Retail the overall retail market in India is
estimated to be USD ~630 billion of which modern retail is estimated to be
9%-10% i.e. USD ~60 billion. The sector has grown at ~12% over the last decade,
continues to be dynamic and going forward expected to grow at a moderately
higher rate. Between 2005-2015, overall retail market has grown at a CAGR OF
12-13% with organised retail growing at ~22%. The overall retail market is
expected to be USD 1100-1200 billion by 2020, of which modern retail share
expected to be USD 140-160 billion.
INDIAN FASHION
INDUSTRY
The Indian retail market is expected to demonstrate a promising year-on-year growth of 6% to reach USD 865 billion, by 2023, from the current USD 490 billion. The share of apparel in India's retail market is 8%, corresponding to a value of USD 40 billion. In addition to fashion apparel, the growing demand for fashion accessories makes the Indian fashion market both interesting and lucrative.
The Indian fashion retail market has witnessed several
fascinating changes and challenges in recent years, which are indicators of the
country's evolving fashion retail market. The challenges associated with these
changes need to be addressed in the most efficient and prudent manner in order
to harness the concomitant benefits.
ORGANISED RETAIL: THE
WAY FORWARD
While India is one of the fastest growing economy significant amount of trade and revenue contributed by unorganised sector. This phenomenon in retail and fashion industry is as high as 70% of a market which is worth about USD 50 billion on the fashion side. Some of the key factors like rapid urbanisation in India coupled with a young nation where the average age being less than 30 augurs very well for the fashion segment. The country has also witnessed significant increase in the disposable income of families which would turn out to be a key driver of consumption in discretionary items. This backed with introduction of GST and demonetisation is supposed to trigger a more pronounced shift to organised retail. Some of the categories within fashion categories like women, Kids etc. are supposed to grow at higher pace, keeping in mind the ever evolving demographic trends in the country.
INCREASING ACCEPTANCE
OF DIGITAL TECHNOLOGY
Technology has become an inevitable part of consumer
lifestyles. The increasing access to the Internet, at a more affordable cost,
and the higher penetration of digital devices has influenced consumers' buying
patterns substantially. Today's consumer has greater access to fashion products
through the Internet and digital devices. He/she compares products, prices,
brand offerings, service levels, and the feedback/opinions of fellow consumers
before making any purchase decision.
BUSINESS OVERVIEW
Future Lifestyle Fashions Limited is an integrated branded
fashion company with presence across key segments within the fashion industry
i.e. design to distribution. The business has been designed to capture the
trend of consumers getting more attuned to fashion and brand preferences. We
have a portfolio of fashion brands that covers the entire gamut of fashion
categories including formal menswear, casual wear, active or sportswear, ethnic
wear, denim wear, footwear and accessories for men and women that are present
across various price points and retailed thru customer centric retail formats.
FLF is a unique player in the fashion industry that is primed to gain
leadership in building both fashion brands and fashion retailing in India. As
an integrated fashion company with presence across all key segments within the
fashion industry, FLF benefits from operating mature businesses that have built
its presence and strengths for over a decade.
REVIEW OF PERFORMANCE
The Company recorded an increase of 17.48% in revenue from operations at INR 38770.700 Million as compared to INR 33001.900 Million in the previous financial year. The Company reported an increase of 33.79% in net profit before tax of INR 601.800 Million for the year under review as compared to INR 449.800 Million for the previous financial year.
The Company’s fashion brands are marketed through exclusive
brand outlets (EBOs), department stores, multi brand outlets (MBOs) as well as
the Company’s operated retail chains such as Central, Brand Factory and EBOs,
which are spread in 372 stores in more than 90 cities across the country and
cover over 5.40 million sq. ft. of retail space. These retail chains
collectively attracted over 51 million customer footfalls during the year under
review. These chains are backed by strong sourcing network, in house
trend-spotting and design teams, coupled with robust logistics and warehousing
network. Further, the Company’s distribution network includes 35 Central
Stores, 53 Brand Factory Outlets along with 284 Sport Stores and EBOs.
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED
DECEMBER 31, 2017
(INR In Million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Nine Months Ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
11889.700 |
10217.200 |
32423.000 |
|
Other Operating Income |
113.700 |
59.100 |
235.300 |
|
Total
Income from Operations |
12003.400 |
10276.300 |
32658.300 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
34.700 |
109.500 |
205.400 |
|
Purchase of Stock in Trade |
7961.700 |
5831.900 |
21846.900 |
|
Changes in inventories of finished goods and
work-in-progress |
(320.000) |
439.700 |
(1439.600) |
|
Excise duty on Sales |
0.000 |
0.000 |
2.500 |
|
Employee benefits expense |
621.600 |
619.700 |
1811.500 |
|
Depreciation and Amortization expenses |
386.000 |
358.400 |
1065.000 |
|
Rent |
1128.400 |
1053.900 |
3374.100 |
|
Other Expenditure |
1419.800 |
1279.300 |
3842.200 |
|
Finance cost |
224.600 |
239.500 |
695.500 |
|
Total
Expenses |
11456.800 |
9931.900 |
31403.500 |
|
Profit
/ (Loss) before Tax |
546.600 |
344.400 |
1254.800 |
|
Tax Expense |
170.100 |
110.500 |
409.300 |
|
Profit
/ (Loss) after Tax |
376.500 |
233.900 |
845.500 |
|
Paid-up Equity Share Capital (Face value INR 2/- per
share) |
380.800 |
380.800 |
380.800 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings per Share (EPS) - INR |
|
|
|
|
Basic
and Diluted EPS (in INR) |
1.99 |
1.24 |
4.46 |
Note:
1. The above results were reviewed and recommended by the Audit Committee and were thereafter approved by the Board of Directors of the Company at its meeting held on 13 February, 2018. The Statutory Auditors of the Company have also carried out a limited review of the above results.
2. The Company has adopted Indian Accounting Standards
("Ind AS") from April 1, 2017 and accordingly these financial results
have been prepared in accordance with recognition and measurement principles
laid down in the Ind AS 34 Interim Financial Reporting prescribed under Section
133 of the Companies Act, 2013 read with the relevant rules issued thereunder.
The date of transition is April 1, 2016. The impact of transition has been
accounted for in opening reserves and the results for the corresponding period
have been restated accordingly.
3. During the quarter under review, an aggregate of 2,32,358
Equity Shares of INR 2 each were issued and allotted under the Company's
Employee Stock Option Scheme - 2013 and Employee Stock Option Plan - 2015.
Consequently, the issued and paid-up Share Capital of the Company as on
December 31, 2017 stands increased by INR 0.465 Million.
4. During the quarter under review, the Company
has opened 2 Central, 3 Brand Factory, 1 aLL & 4 EBOs and closed 13 EBOs.
5. According to the requirements of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, revenue from operation for the
quarter and nine months ended December 31, 2016 was reported inclusive of
excise duty. Goods and Services Tax ("GST") was implemented with
effect from July 1, 2017, which replaced excise duty and other input taxes. As
per Ind AS 18 revenue from operations for the quarter ended December 31, 2017
is reported net of GST. Therefore revenue from operations for the current
periods are not comparable with the corresponding earlier periods.
6. The financial results and other financial information for the quarter and nine months ended December 31, 2016 have been reviewed and presented based on the information compiled by the management after making the necessary adjustments to give a true and fair view of the results in accordance with Ind AS.
7. Figures of the previous period(s) have been regrouped /
reclassified wherever necessary.
8. The Company has only one business segment i.e. "Fashion".
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Amount |
Address |
|
1 |
G83287003 |
100167716 |
STATE BANK OF INDIA |
14/03/2018 |
3900000000.0 |
COMMERCAL BRANCH, N G N VAIDYA MARG, BANK STREET, HORNIMAN CIRCLE, MUMBAIMH400001IN |
|
2 |
G77382885 |
100156761 |
CENTBANK FINANCIAL SERVICES LIMITED |
06/02/2018 |
3500000000.0 |
CENTRAL BANK OF INDIA-MMO BLDG, 3RD FLR (EAST),55 MAHATMA GANDHI ROAD, FORT,MUMBAIMA400001IN |
|
3 |
G43816370 |
100097298 |
IDBI TRUSTEESHIP SERVICES LIMITED |
28/03/2017 |
4500000000.0 |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARGBALLARD ESTATEMUMBAIMH400001IN |
|
4 |
G39517875 |
100086346 |
AXIS BANK LIMITED |
04/03/2017 |
1000000000.0 |
12-A MITTAL TOWERNARIMAN POINTMUMBAIMH400021IN |
|
5 |
G38348272 |
100056421 |
IFCI LIMITED |
29/09/2016 |
1250000000.0 |
IFCI TOWERNEHRU PLACENEW DELHIDL110019IN |
|
6 |
G08156424 |
100040585 |
ALLAHABAD BANK |
11/07/2016 |
3244100000.0 |
INDUSTRIAL FINANCE BRANCH (IFB), 2ND FLOOR,ALLAHABAD BANK BLDG, 37, MUMBAI SAMACHAR MARG,FORTMUMBAIMH400023IN |
|
7 |
C67602045 |
10597725 |
TAMILNAD MERCANTILE BANK LIMITED |
24/09/2015 |
500000000.0 |
HEMPRAKASH BUILDING, GROUND FLOOR, NO.92,KAZI SYED STREET, MANDVIMUMBAIMH400003IN |
|
8 |
C56834302 |
10575685 |
LAKSHMI VILAS BANK LIMITED |
11/06/2015 |
500000000.0 |
BHARAT HOUSE, 104, B. S. MARG,FORTMUMBAIMH400001IN |
|
9 |
C17000860 |
10515637 |
AXIS BANK LIMITED |
11/08/2014 |
1000000000.0 |
SECOND FLOOR, E - WING, WADIA INTERNATIONAL CENTERPANDURANG BUDHAKAR MARG, WORLIMUMBAIMH400025IN |
|
10 |
C07871171 |
10504726 |
AXIS BANK LIMITED |
05/06/2014 |
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2017 |
31.03.2016 |
|
A. Claims against the Company not acknowledged as debts |
41.300 |
35.900 |
|
B. Corporate Guarantees given |
762.000 |
262.000 |
|
C. Guarantees given by the bank on behalf of the Company |
164.000 |
187.200 |
FIXED ASSETS:
Tangible Asset
- Freehold Land
- Leasehold Improvements
- Plant & Equipments
- Office Equipments
- Computers
- Furniture, Fixtures and Other Fittings
- Vehicles
Intangible Asset
- Computer Software
- Licence Rights
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 67.38 |
|
|
1 |
INR 91.38 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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 |
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.