Beruflich Dokumente
Kultur Dokumente
Profits
PBDITA 0.5 5,852.20 3,590.90 3,432.30
PBDITA net of P&E&OI&FI -1 2,718.00 3,526.40 3,487.50
Profit after tax (PAT) -3.4 232.8 185.5 294.7
PAT net of P&E -3.4 416.3 338.4 514.8
Current assets and loans & advances 48.1 22,742.90 21,689.60 22,083.00
Inventories 10,239.70 11,731.70 13,050.00
Trade & bills receivables 2,654.80 2,692.30 2,418.50
Cash & bank balance 1.7 2,710.80 596.6 146.2
Short term investments 3,785.30 3,436.90 3754.3
Short term loans & advances 45 2,669.30 2,852.20 2,143.30
Addendum Information
Net fixed assets net of reval 11,498.60 13,019.00 12,427.70
Tangible net worth 48 12,398.90 15,188.00 15,799.70
Total outside liabilities 0.1 26,107.50 24,272.90 26,731.10
Future Lifestyle Fashions Ltd.
Income & Expenditure Summary : Mar 2013 - Mar 2017 : Non-Annualised : Rs.
Million
Mar-13 Mar-14 Mar-15 Mar-16
11 mths 12 mths 12 mths 12 mths
-
Total income 1.5 32,392.40 33,319.30 35,009.20
Sales 29,074.70 33,101.90 34,844.30
Industrial sales
Income from non-financial services 0 29,074.70 33,101.90 34,844.30
Income from financial services 1.5 3,312.40 200.3 148.4
Interest income 1.5 14.7 61.8 39
Dividends 0 2.2 3.1 2.1
Income from treasury operations 3,295.50 135.4 107.3
Other income 5.3 17.1 16.5
Prior period and extraordinary income
Addendum Information
Total income net of P&E 1.5 32,392.40 33,319.30 35,009.20
Net sales 0 27,373.50 31,261.00 32,938.60
Cost of goods sold 0 23,423.80 24,386.80 25,852.30
Cost of sales 1 30,208.60 31,276.40 32,971.00
Cost of sales per day 0 82.8 85.7 90.3
4 5
1.466667 1.788889
0.8 0.533333
Kewal Kiran Clothing Ltd.
Executive Summary : Mar 2007 - Mar 2016 : Non-Annualised : Rs. Million
Profits
PBDITA 328.2 391.8 316.3 576
PBDITA net of P&E&OI&FI 256.6 314.1 239.4 483.4
Profit after tax (PAT) 186.5 211.1 142.6 325.2
PAT net of P&E 186 212.4 144.3 336.5
Addendum Information
Net fixed assets net of reval 354 449.1 400.3 405.8
Tangible net worth 1,412.20 1,512.50 1,751.90 1,977.60
Total outside liabilities 447.5 388.9 343.7 339.5
Addendum Information
Total income net of P&E 1,683.20 1,532.60 1,867.30 2,457.90
Net sales 1,604.20 1,454.00 1,763.40 2,349.10
Cost of goods sold 986.8 890.4 970.7 1,274.10
Cost of sales 1,326.70 1,263.90 1,335.10 1,736.20
Cost of sales per day 3.6 3.5 3.7 4.8
1 2 3 4 5
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths
Profits
PBDITA -135.2 -643.8 -53.3 1.4
PBDITA net of P&E&OI&FI -135.2 -608 -71.5 1.3
Profit after tax (PAT) -148.2 -798.5 -253.7 0.1
PAT net of P&E -148.2 -762.6 -217.3 0.1
Addendum Information
Net fixed assets net of reval 9.6 274.2
Tangible net worth -147.7 -927.4 -3.9 -3.8
Total outside liabilities 441.3 1,317.50 13 21.1
Addendum Information
Total income net of P&E 2.6 169.3 190.5 128
Net sales 2.3 168 135.8 127.9
Cost of goods sold 81.2 501.6 193.6 111.8
Cost of sales 138.6 840.6 255.1 126.6
Cost of sales per day 0.4 2.3 0.7 0.3
1 2 3 4 5
Mar-12 Mar-13 Mar-14 Mar-15 Mar-16
12 mths 12 mths 12 mths 12 mths 12 mths
8,463.20 37.8
3.2
3.2
10.8
6.7
5.7
Profits
PBDITA 1,986.00 2,010.80 1,109.20 1,024.40
PBDITA net of P&E&OI&FI 1,971.30 1,770.10 608.4 782.9
Profit after tax (PAT) 1,641.90 1,686.50 782.2 598.9
PAT net of P&E 1,643.10 1,685.90 780.2 597.6
Addendum Information
Net fixed assets net of reval 1,141.30 1,155.30 1,442.00 4,346.40
Tangible net worth 1,984.70 14,276.60 14,889.30 15,284.80
Total outside liabilities 3,918.70 2,761.30 2,561.40 2,519.10
Addendum Information
Total income net of P&E 2,406.40 3,459.70 3,875.10 5,030.50
Net sales 2,345.20 3,298.60 3,507.40 4,741.20
Cost of goods sold 1,617.40 2,277.50 2,592.00 3,673.60
Cost of sales 2,108.00 2,960.10 3,317.70 4,417.70
Cost of sales per day 5.8 8.1 9.1 12.1
1 2 3 4 5
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths
-3.1
-3.1
6.3
Profits
PBDITA 344.4 573.2 653.1 738.2
PBDITA net of P&E&OI&FI 326.4 485.3 360.3 528.3
Profit after tax (PAT) 196 258 294.6 283.5
PAT net of P&E 197.7 265.5 294 280.9
Addendum Information
Net fixed assets net of reval 317 435.4 623.8 690
Tangible net worth 2,625.90 3,201.60 6,893.00 7,020.80
Total outside liabilities 927.8 2,084.70 2,020.70 2,821.80
Addendum Information
Total income net of P&E 2,406.40 3,459.70 3,875.10 5,030.50
Net sales 2,345.20 3,298.60 3,507.40 4,741.20
Cost of goods sold 1,617.40 2,277.50 2,592.00 3,673.60
Cost of sales 2,108.00 2,960.10 3,317.70 4,417.70
Cost of sales per day 5.8 8.1 9.1 12.1
1 2 3 4 5
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths
3.6 0.6 0
Column1
Mean -0.74444
Standard Error 6.006049
Median 1.7
Mode #N/A
Standard Deviation 30.03024
Sample Variance 901.8155
Kurtosis 3.724364
Skewness -1.77343
Range 133.6667
Minimum -94.9667
Maximum 38.7
Sum -18.6111
Count 25
ROCE Mean -8.29
1.9 SD 31.66
-16.3
-50.7
-74.3
-105.1
7.9
3.2
7.2
5.4 Gretaer
7.466667 Greater than m+1.5 sd 7
-25.8 m+ 1.5Sd 39.20 6.00 6
-49.3 m+1.25Sd 31.29 4.00 5
-16.5 Median m+.5sd 7.54 3.00 4
-21.2333 M -1sd -39.95 2.00 3
-0.94444 M - 1.25 Sd -79.53 1.00 2
24.5 Less than M -1.3 SD -49.45 0.00 1
21.7
21.6
19.7
19
6.4
2.4
3.2
0.8
0.533333
Provogue 1.9 -16.3 -50.7 -74.3 -105.1 -48.9
7.9 3.2 7.2 5.4 7.466667
Aditya -25.8 -49.3 -16.5 -21.2333 -0.94444 -22.7556
Kewal 24.5 21.7 21.6 19.7 19 21.3
Future 6.4 2.4 3.2 0.8 0.533333 2.666667
Column1
Mean -8.29111
Standard Error 6.33271
Median 2.4
Mode 3.2
Standard Deviation 31.66355
Sample Variance 1002.58
Kurtosis 2.830502
Skewness -1.7017
Range 129.6
Minimum -105.1
Maximum 24.5
Sum -207.278
Count 25
1.Risk
I.Risk parameter : Industry
Factor:Importance toCharacteristics
the Economy
Range Actual
Policies such as duties, prices controls, licensing policy as well as environment norms
affect the working of the industry
No
Yes Yes
III. Risk factor: Growth Potential/Outlook
The outlook or the potential for the industry to grow with reference to the Economic
Growth for next 3 years calculated on an average annual basis would give an idea of
chances of the Industry to perform Well.
Positive Outlook Positive Outlook
Moderate
2.Risk parameter : Competitive forces
Gross Profit Margin
Range Actual
This aspect is to identify the competition between various Players in the market whether
multinational or otherwise
Least Competition
Moderate Competition(Oligopolistic Market) Yes
II.Risk Factor:Barriers to entry for New Players
Sensitivity of the Industry to Govt. Policies
> 44.3%
36.79% and < 44.30%
14.27% and < 36.79%
-30.77% and < 14.27% 14
-68.31% and < -30.77%
-39.78% and < -68.31%
< -39.78%
3. Risk parameter: Industry Financial
III Risk Factor: Earning Stability
The ability of the Industry to earn a stable income over a period of 3 Years
Stable Business
Yes
Cyclical Business
ristics
nomy
36
6 6
0
olicies
6 6 18
3
Industry
6 6 36 Characteristics SWS TW WS
2 90 18 5.00
rces
6 6
3 18
Players
olicies
6 6 36
0
olicies
eap Chinese imports. In Indian Conditions unorganized sectors whose
s threat
3 6 72 18 4.00
6
5
4 6 24
3
2
1
0
ars)
6
5
4
3 6 18
2
1
0
cial
Industry Financial
6 5 30 TW SWS WAS
2 17 72 4.24
1.Risk
I.Risk parameter : Industry
Factor:Importance toCharacteristics
the Economy
Range Actual
Policies such as duties, prices controls, licensing policy as well as environment norms
affect the working of the industry
No
Yes Yes
III. Risk factor: Growth Potential/Outlook
The outlook or the potential for the industry to grow with reference to the Economic
Growth for next 3 years calculated on an average annual basis would give an idea of
chances of the Industry to perform Well.
Positive Outlook Positive Outlook
Moderate
2.Risk parameter : Competitive forces
Gross Profit Margin
Range Actual
This aspect is to identify the competition between various Players in the market whether
multinational or otherwise
Least Competition
Moderate Competition(Oligopolistic Market) Yes
II.Risk Factor:Barriers to entry for New Players
Sensitivity of the Industry to Govt. Policies
> 44.3%
36.79% and < 44.30%
14.27% and < 36.79%
-30.77% and < 14.27%
-68.31% and < -30.77% -44.43
-39.78% and < -68.31%
< -39.78%
3. Risk parameter: Industry Financial
III Risk Factor: Earning Stability
The ability of the Industry to earn a stable income over a period of 3 Years
Stable Business
Yes
Cyclical Business
ristics
nomy
36
6 6
0
olicies
6 6 18
3
Industry
6 6 36 Characteristics SWS TW WS
2 90 18 5.00
rces
6 6
3 18
Players
olicies
6 6 36
0
olicies
eap Chinese imports. In Indian Conditions unorganized sectors whose
s threat
3 6 72 18 4.00
6
5
4
3
2 6 12
1
0
ars)
6
5
4
3
2 6 12
1
0
cial
Industry Financial
6 3 18 TW SWS WAS
2 15 42 2.80
1.Risk
I.Risk parameter : Industry
Factor:Importance toCharacteristics
the Economy
Range Actual
Policies such as duties, prices controls, licensing policy as well as environment norms
affect the working of the industry
No
Yes Yes
III. Risk factor: Growth Potential/Outlook
The outlook or the potential for the industry to grow with reference to the Economic
Growth for next 3 years calculated on an average annual basis would give an idea of
chances of the Industry to perform Well.
Positive Outlook Positive Outlook
Moderate
2.Risk parameter : Competitive forces
Gross Profit Margin
Range Actual
This aspect is to identify the competition between various Players in the market whether
multinational or otherwise
Least Competition
Moderate Competition(Oligopolistic Market) Yes
II.Risk Factor:Barriers to entry for New Players
Sensitivity of the Industry to Govt. Policies
> 44.3%
36.79% and < 44.30%
14.27% and < 36.79%
-30.77% and < 14.27% -3.0889
-68.31% and < -30.77%
-39.78% and < -68.31%
< -39.78%
3. Risk parameter: Industry Financial
III Risk Factor: Earning Stability
The ability of the Industry to earn a stable income over a period of 3 Years
Stable Business
Yes
Cyclical Business
ristics
nomy
30
5 6
0
olicies
6 6 12
2
Industry
6 6 36 Characteristics SWS TW WS
2 78 18 4.33
rces
6 6
3 18
Players
olicies
6 6 36
0
olicies
eap Chinese imports. In Indian Conditions unorganized sectors whose
s threat
3 6 72 18 4.00
6
5
4
3 6 18
2
1
0
ars)
6
5
4
3 6 18
2
1
0
cial
Industry Financial
6 4 24 TW SWS WAS
2 16 60 3.75
Future Kewal Kiran
2014 2015 2016 Average 2014 2015 2016
Future
X1 Net Working Capital (NWC)/Total Asset (liquidity) 1.2 0.24233564
X2 Retained Earnings/Total Asset (cumulative profitability) 1.4 #DIV/0!
X3 Profit before Interest and Tax (PBIT)/total assets 3.3 0.108361
X4 Inside Liabilities/Outside Liabilities 0.6 #DIV/0!
X5 Sales/Total Assets (sales generating ability) 0.999 0.81654021
Z 1.2*X1 + 1.4*X2 + 3.3*X3 + 0.6*X4 + 0.999*X5 #DIV/0!
al Kiran Aditya Birla Phonix Provogue
Average 2014 2015 2016 Average 2014 2015 2016 Average 2014
0 0 0 0
Provogue
2015 2016 Average
Risk Category (Financial Risk)
II.Risk Factor
ROCE
12%
10%and <12%
8%and <10%
6%and <8% 7.54%
4%and <6%
2%and <4%
<2%
2.Risk Parameter: Leverage Ratio :Risk Parameter
Risk factor: (TOL / TNW)
<1.00
1.00and <2.00 1.20
2.00and<3.00
3.00and<4.00
4.00and<4.500
4.5 and<5.0
>5.00
3.Risk Parameter: Liquidity Ratio
Risk Factor: Current Ratio
1.5
1.33 and <1.5 1.42
1.20 and<1.33
1.15<1.20
1.10<1.15
1<1.10
>1
4. Efficiency of Working Capital Management : Risk Parameter
3
2.5 and <3
2and <2.5 2.2
1.5 and <2
1and <1.5
0.5and <1
6. Risk Parameter
Statutory Auditors Qualifications in the Balance Sheet
Observation
No qualification of auditor
2 Leverage
3 Liquidity
4 Efficiency of Working Capital Management
5 Cash Flow Adequacy
Auditors Qualifications in the Balance
6 Sheet
Total
meter
n
Score Weight Weighted Score
6 6
5 30
4
3
2
1
0
6 5
5
4
3 15.00
2
1 SWS WS
0 Profitability 45 4.09
:Risk Parameter
W)
6 5
5 25
4
3 LVR
2
1 WS
0 5
y Ratio
atio
6 5
5
4 25
3
2 LR
1 WS
0 5
ment : Risk Parameter
6 6
5
4 30
3
2
1
0
terms of Months Sales)
6 6 18
5
4
3 EWCM
2
1 SWS TW WS
0 72 18 4.00
ACY
e Ratio (DSCR)
6 6.0
5
4
3 18
2
1 WS
0 3
he Balance Sheet
6 3 18
3 WS
0 6
Risk)
Score Weight Weighted Score
4 6 24.5
5 5 25.0
5 4 20.0
4 6 24.0
3 6 18.0
6 3 18.0
30 130
4.32 WS
Risk Category( Business Risk)
1.Risk parameter : Business Growth
I.Risk Factor:Business Growth in term of growth in Sales/Income/Receipts.
Range Actual Score
>20% 21.6% 6
18% and <20% 5
16% and <18% 4
14% and <16% 3
12% and <14% 2
10% and <12% 1
<10% 0
II. Risk factor: Percentage increase in Net Profit Margin over the Previous years margin
>2% 6
1.5% and <2% 1.5% 5
1% and <1.5% 4
0.5% and <1%
3
0.25% and <0.5% 2
0% and <0.25% 1
<0%
0
Yes 6
Moderate Moderate 3
No 0
II.Risk Factor: Whether Raw Material and or Labour/Other relevant inputs as required for the business is easily availa
cost.
Sensitivity of the Industry to Govt. Policies
Yes 6
Moderate Moderate 3
No 0
III. Risk Factor: Whether Marketing, Distribution Selling Storage arrangements as required for the business are adequa
Yes 6
Moderate Moderate 3
No 0
IV. Risk Factor: Advantage available in terms of range and quality of the products/goods/output/services of the borrow
Yes Yes 6
Moderate 3
No 0
Yes 6
Moderate Moderate 3
No 0
Weighted Average Score of Business Risk Category
S. No. Risk Parameter Risk Score
1 Business Growth 5.50
2 Operating efficiency 3.75
Total
WAS
me/Receipts.
Weight Weighted Score
6 36
6
30
Business Growth
TW SWS WAS
12 66 5.5
6
18
6
18
6
18
6 36 Operating Eficiency
TW SWS WAS
24 90 3.75
6
18
y
Weight Weighted Score
6 33.00
6 22.50
12 55.50
4.63
Industrial Risk Subrat Bhai and Soumyashree
Management Risk Rashmi Sansy
Financial Risk Pawa Shalina
Formula and Assumptions to be
Business Risk Tushar Pallabi mentioned in every page.
Data and Trend Shalina
Final Rating Agarwal
Altzman Score Rounak
Risk Category(Management Risk)
Range
100% of the target
90% but < 100% of target
80% but < 90% of target
70% but < 80% of target
< 70% of target
3.Risk Parameter(RF) : Capability of the Promoters/Management to run the business i.e. either they have the busine
Excellent
Very Good
Good
Satisfactory
Otherwise
Yes
No
II. Risk factors : Whether the promoters or their group conce
adequate financial resources to assist the borrower in case o
2
3
7
Risk Category(Management Risk)
Actual Score
114.0% 6
5
4
3
0
2.Risk Parameter(RF) : Achievement by Borrower (during last completed year) of targeted Net Profit (after tax)
of targeted Net Sales/Income/Receipts was to be extent of
4
3
52.0% 2
1
0
ter(RF) : Capability of the Promoters/Management to run the business i.e. either they have the business skills to run the business and/or have emplo
Excellent 6
5
4
3
0
4.Risk Parameter(RF) :No. of years of experience of the
Promoter(s)/Management in the line of business.
Yes 6
5
4
5.Risk Parameter :Financial Support to the borrowing firm from the Promoters/Group
Promoter(s)/Management in the line of business.
Yes 6
0
II. Risk factors : Whether the promoters or their group concerns have
adequate financial resources to assist the borrower in case of need.
Yes
6
4
0
6.Risk Parameter (RF) : Succession Plan for running the borrower's business in future.
Whether in absence of the Principal promoter(s), the business can be run by identified successors.
6
Moderate 3
0
Risk Parameter (RF) : Retention of Net Profits (in the borrowing firm) generated from the borrower's business profit last year is to the extent of
6
41.00% 5
0
Total
WAS
s.
6.00
12
2
run the business and/or have employed professionals
6
18
3
6 36
/Group
3 18
6 36 Financial Support
TW TWS WAS
9 54 6.00
uture.
ssors.
6
18
3
fit last year is to the extent of
2 10.00
5.00
y
Weight Weighted Score
6 24
6 18
5 30
3 15
3 18
2 12
2 10
27 127
4.70
Weighted Score Rating
No of Slabs
6.00- 5.40
AAA
1
5.39 5.10
AA
2
5.09 - 4.50
A
3
4.50 3.30
BBB
4
2.39-1.00
B
6
0.9 > 0.00
C
7
8 0
D
Overall weights assigned to the ra
Description
Categories
An exceptionally high position of strength. Very High degree of Financial Risk
sustainability..Minimum Risk 1
A high degree of strength on a factor among the peer group. High Industry Risk
degree of sustainability..Marginal Risk 2
A moderate degree of strength with positive outlookModerate Business Risk
Risk 3
A moderate degree of strength with stable or marginally negative Management Risk
outlook.Average Risk 4
A fundamental weakness with regard to the factor. Unlikely to Total
improve under normal circumstances..High Risk
Caution & Not Acceptable JKTL Average Weighted
Score
Default
erall weights assigned to the rating categories are:
S. No.
Risk Score Weight Weighted Score
1
4.32 6 25.91
2
4.51 4 18.05
3
4.63 4 18.50
4
4.70 4 18.81
5
18 81.3
6
4.52
7
8
Weighted Average Score Credit Rating Description of risk