MIRA
INFORM REPORT
|
Report Date : |
28.10.2006 |
IDENTIFICATION
DETAILS
|
Name : |
GROUP
M MEDIA INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
201
Peninsula Chamber, G. K. Marg, Lower Parel, Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
29.11.2001 |
|
|
|
|
Com. Reg. No.: |
11-134079 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74300MH2001PTC134079 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM14987A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCM7365H |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Providing
Advertising Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD
1000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established company having fine track. Trade relations are fair.
Financial position is good.
Payments are correct and as per commitments. The
company can be considered good for any normal business dealings at usual
trade terms and conditions. It can
be regarded as a promising business partner in a medium to long – run. |
LOCATIONS
|
Registered Office : |
201
Peninsula Chamber, G. K. Marg, Lower Parel, Mumbai – 400013, Maharashtra,
India |
|
Tel. No.: |
91-22-40958888/56638888 |
|
Fax No.: |
91-22-40958800/56638800 |
|
|
|
|
Branches
: |
Located
at : Mumbai,
Bangalore, Chennai, Delhi, Kolkata and Hyderabad |
DIRECTORS
|
Name : |
Mr.
Mahinder Kumar Khanna |
|
Designation : |
Director
|
|
Address : |
81/A,
Embassy Apartments, 46, Nepean Sea Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
30.10.1939 |
|
Date of Appointment : |
29.11.2001 |
|
|
|
|
Name : |
Mr.
Ranjan Mohanlal Kapur |
|
Designation : |
Director
|
|
Address : |
3,
Sorrento, Mount Pleasant Road, Malabar Hill, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
25.11.1942 |
|
Date of Appointment : |
29.11.2001 |
|
|
|
|
Name : |
Mr.
Anil Mahadeo Deorukhkar |
|
Designation : |
Director
|
|
Address : |
C -
52, Swapnashilp, Mahant Road, Vile Parle [East], Mumbai – 400057,
Maharashtra, India |
|
Date of Birth/Age : |
12.04.1952 |
|
Date of Appointment : |
29.11.2001 |
|
|
|
|
Name : |
Mr.
Sulbhanand Nathuram Rane |
|
Designation : |
Director
|
|
Address : |
19,
Sulbha, Sector 6, Chheda Nagar, Chembur, Mumbai – 400089, Maharashtra, India |
|
Date of Birth/Age : |
16.03.1950 |
|
Date of Appointment : |
29.11.2001 |
|
|
|
|
Name : |
Mr.
Rupert Michael Day |
|
Designation : |
Director
|
|
Address : |
128,
East, 7th Street, Apartment 4, NY NY 10009, U.S.A. |
|
Date of Birth/Age : |
21.07.1961 |
|
Date of Appointment : |
14.12.2001 |
|
|
|
|
Name
: |
Mr.
Geroge W. H. Yeoh |
|
Designation
: |
Director
|
|
Address
: |
Flat 2
G, Pine Mansion, Taikoo Shing, Hong Kong |
|
Date
of Birth/Age : |
20.05.1959 |
|
Date
of Appointment : |
14.12.2001 |
|
|
|
|
Name
: |
Mr.
John Alan Steedman |
|
Designation
: |
Director |
|
Address
: |
43,
Nelson Street, Gordon NSW, Australia |
|
Date
of Birth/Age : |
05.03.1954 |
|
Date
of Appointment : |
14.03.2003 |
|
|
|
|
Name
: |
Mr.
Piyush Pandey |
|
Designation
: |
Director |
|
Address
: |
1st
Floor, Krishna Kunj, Road No. 5, Off Cadell Road, Mahim, Mumbai – 400016,
Maharashtra, India |
|
Date
of Birth/Age : |
05.09.1955 |
|
Date
of Appointment : |
25.03.2004 |
|
|
|
|
Name
: |
Mr.
Vikram Sakhuja |
|
Designation
: |
Director
[Alternate to Mr. John Steedman] |
|
Address
: |
3rd
Floor, Hormuz Building, Shanti Road, Juhu, Mumbai – 400049, Maharashtra,
India |
|
Date
of Birth/Age : |
30.10.1961 |
|
Date
of Appointment : |
15.10.2004 |
|
|
|
|
Name
: |
Mr.
John Goodman |
|
Designation
: |
Director
|
|
Address
: |
D 6,
Seaface Park, 50 Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
|
Date
of Birth/Age : |
11.07.1959 |
|
Date
of Appointment : |
15.10.2004 |
|
Date
of Ceasing : |
22.06.2006 |
|
|
|
|
Name
: |
Mr.
Colvyn Harris |
|
Designation
: |
Director
|
|
Address
: |
1 – B,
Saker Apartments, 71, Pochkhanwala Road, Worli, Mumbai – 400025, Maharashtra,
India |
|
Date
of Birth/Age : |
12.10.1957 |
|
Date
of Appointment : |
15.10.2004 |
|
|
|
|
Name
: |
Mr.
Ashutosh Srivastava |
|
Designation
: |
Whole
Time Director |
|
Address
: |
3
Sanghi Residency, Palkhi Gully, Behind Twin Towers, Off. Cadell Road,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date
of Birth/Age : |
03.10.1962 |
|
Date
of Appointment : |
15.10.2004 |
|
|
|
|
Name
: |
Mr.
Ashok Sengupta |
|
Designation
: |
Whole
Time Director |
|
Address
: |
301,
Nisarg Apartments, Nargis Dutt Road, Pali Hill, Bandra [West], Mumbai –
400050, Maharashtra, India |
|
Date
of Birth/Age : |
22.03.1965 |
|
Date
of Appointment : |
14.04.2005 |
|
|
|
|
Name
: |
Mr.
Pratap Bose |
|
Designation
: |
Director
|
|
Address
: |
Flat
1401, 14th Floor, Vastu Bandra, Byramjee Jeejeebhoy Road, Bandra
[West], Mumbai – 400050, Maharashtra, India |
|
Date
of Birth/Age : |
29.10.1962 |
|
Date
of Appointment : |
22.06.2006 |
|
DIN
/ PAN No. : |
00116576 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Berkeley
Square Holding, BV |
|
5560000 |
|
Ogilv
& Mather Trust |
|
1101660 |
|
Med
Value Holdings Private Limited |
|
681840 |
|
Shashidhar
Rajadhyaksha |
|
27680 |
|
Pacella
Mendes |
|
22080 |
|
Shridhar
Madhusudan Joglekar |
|
18720 |
|
Deric
Jerome Henriques |
|
6560 |
|
Sulbha
Sitaram Kulkarni |
|
25280 |
|
Mr.
Prakash Vasudeo Datar |
|
10640 |
|
Ms.
Saumini Sumangal Velkar |
|
21200 |
|
Mr.
Ashutosh Srivastava |
|
36914 |
|
Ms.
Manjiri Girish Kumar |
|
13760 |
|
Mr. S.
Sunder Raman |
|
6590 |
|
Mr.
Sanjoy Chakraborty |
|
14320 |
|
Ms.
Sumitra Banerjee |
|
18800 |
|
Mr.
Piyush Kanti Sit |
|
19600 |
|
Mr.
Venkat Sanjay |
|
10640 |
|
Mr.
Goutam Sen Gupta |
|
7360 |
|
Mr.
Vijay Kumar Grover |
|
11600 |
|
Mr. S.
Naresh |
|
8000 |
|
Mr.
Lalit Kumar Gambhir |
|
8560 |
|
Mr. J.
Satyan |
|
5760 |
|
Mr. K.
Mohan Rai |
|
11360 |
|
Ms.
Shylaja Vijaykumar |
|
16320 |
|
Ms.
Meena Jacob |
|
8560 |
|
Mr. V.
A. Ravi |
|
12240 |
|
Mr. R.
K. Girish Menon |
|
8350 |
|
Mr.
Raghu N. Devadiga |
|
5680 |
|
Mr. R.
Srivatsan |
|
17120 |
|
Mr.
Vikram Sakhuja |
|
24012 |
|
Mr.
Parameshwar Choodamani |
|
9350 |
|
Mr.
Ashutosh Srivastava |
|
12336 |
|
Ms.
Sunita Gopalkrishnan |
|
27494 |
|
Mr.
Rajeev Berry |
|
9848 |
|
Mr.
Meenakshi Venkataraman |
|
8938 |
|
Ms.
Nirmala Gopalakrishnan |
|
6048 |
|
Mr. V.
Balasubramanium |
|
11370 |
|
Mr.
Debraj Tripathy |
|
6984 |
|
Mr. C.
V. L. Srinivas |
|
11676 |
BUSINESS DETAILS
|
Line of Business : |
Providing
Advertising Services. |
GENERAL
INFORMATION
|
No. of Employees : |
1500 |
|
|
|
|
Bankers : |
HSBC
Limited 52/60,
M. G. Road, Mumbai – 400001, Maharashtra, India ICICI
Bank Limited Free
Press House, 215, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
|
|
|
Banking Relations : |
Good |
|
|
|
|
Auditors : |
Deloitte
Haskins & Sells Chartered
Accountants, 12,
Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-56679000 |
|
Fax No.: |
91-22-56679025 |
|
|
|
|
Subsidiaries : |
Result
India Communications Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
8000000 |
Equity
Shares |
Rs. 1/- each |
Rs. 8.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
8000000 |
Equity
Shares |
Rs. 1/- each |
Rs. 8.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.000 |
8.000 |
8.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
248.426 |
125.502 |
63.927 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
256.426 |
133.502 |
71.927 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
565.378 |
234.478 |
186.030 |
|
|
TOTAL BORROWING |
565.378 |
234.478 |
186.030 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
821.804 |
367.980 |
257.957 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.681 |
4.255 |
9.692 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.193 |
4.193 |
4.168 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
2.797 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
3059.877 |
2063.596 |
507.636 |
|
|
Cash & Bank Balances |
73.293 |
31.302 |
38.634 |
|
|
Other Current Assets |
4.353 |
3.915 |
252.130 |
|
|
Loans & Advances |
1172.832 |
598.365 |
235.641 |
|
Total Current Assets |
4310.355 |
2697.178 |
1034.041 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3266.842 |
2120.875 |
|
|
|
Provisions |
243.583 |
216.884 |
|
|
Total Current Liabilities |
3510.425 |
2337.759 |
792.911 |
|
|
Net Current Assets |
799.930 |
359.419 |
241.130 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.113 |
0.170 |
|
|
|
|
|
|
|
|
TOTAL |
821.804 |
367.980 |
257.957 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
773.350 |
751.915 |
498.952 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
205.587 |
181.188 |
129.120 |
|
Provision
for Taxation |
0.000 |
0.000 |
50.199 |
|
Profit/(Loss)
After Tax |
205.587 |
181.188 |
78.921 |
|
|
|
|
|
|
Export
Value |
131.956 |
99.211 |
N.A. |
|
|
|
|
|
|
Total
Expenditure |
567.763 |
570.728 |
369.831 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
26.58
|
24.09 |
15.81 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
26.58
|
24.09 |
25.87 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
4.75
|
6.70 |
12.37 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.80
|
1.35 |
1.79 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
15.89
|
19.26 |
13.61 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.22
|
1.15 |
1.30 |
LOCAL AGENCY
FURTHER INFORMATION
FINANCIAL
RESULTS
The year
closed with a net profit of Rs. 0.721 million [previous year Rs. 0.516 million]
after meeting all expenses including provision for depreciation.
Their
revenue growth was contributed through acquisition of new clients in the
conventional business as well as strong growth in their non conventional
business in the form of Broadmind, ATG, Dialet and Mone. The company continued to excel &
consolidate its reputation in the media industry locally and in the region and
continued to enjoy its leadership position in the country.
During
the year the company provided advertising services to overseas client. The company is continuing its efforts to
explore possibilities to increase the foreign exchange earnings.
Fixed
Assets :
Office
Equipments, Furniture & Fixtures, Computers and Vehicles.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.84 |
|
UK
Pound |
1 |
Rs.85.55 |
|
Euro |
1 |
Rs.57.28 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|