MIRA
INFORM REPORT
|
Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
DB CORP LIMITED |
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Registered Office : |
Plot No. 280, Sarkhej Gandhinagar Highway, Near YMCA Club , Makarba,
Ahmedabad – 380 054, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.10.1995 |
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Com. Reg. No.: |
47208 |
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CIN No.: [Company
Identification No.] |
U22210GJ1995PLC047208 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTD01424D / PTLD12325F |
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PAN No.: [Permanent
Account No.] |
AACCM5772G |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Publishers of Newspaper, Periodicals, Magazines, Pamphlets, Journals,
etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 4600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new company of Dainik Bhaskar (DB) Group. Available
information indicates high financial responsibility of the company and management.
Trade relations are fair. Payments are correct and as per commitments. The company can be considered good for any normal business dealings. It can be regarded as a promising business partner in a medium to long
run. |
LOCATIONS
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Registered Office : |
Plot No. 280, Sarkhej Gandhinagar Highway, Near YMCA Club , Makarba,
Ahmedabad – 380 054, Gujarat |
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E-Mail : |
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Website : |
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Administrative Office : |
Divya Bhaskar Unit No. of DB Corp Limited, Plot No. 280, Near YMCA
Club , Makarba -380 054 , Ahmedabad 380 054, Gujarat |
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Tel. No.: |
91-22-26925466 |
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Corporate Office : |
280 S G Highway , Near Tayota, Ahmedabad – 380 054, Gujarat, India |
DIRECTORS
|
Name : |
Mrs. Namita Agrawal |
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Designation : |
Director |
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Address : |
E -1/79, Arera Colony, Bhopal – 462 016, Madhya Pradesh, India |
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Date of Birth/Age : |
12.06.1972 |
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Date of Appointment : |
10.12.2005 |
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Date of Ceasing: |
22.09.2007 |
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Name : |
Mr. Ramesh Agarwal |
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Designation : |
Director |
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Address : |
E -1/79, Arera Colony, Bhopal – 462 016, Madhya Pradesh, India |
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Date of Birth/Age : |
24.03.1945 |
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Date of Appointment : |
10.12.2005 |
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Name : |
Mr. Sudhir Agarwal |
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Designation : |
Director |
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Address : |
E -1/79, Arera Colony, Bhopal – 462 016, Madhya Pradesh, India |
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Date of Birth/Age : |
20.07.1967 |
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Date of Appointment : |
10.12.2005 |
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Name : |
Mr. Girish Agarwal |
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Designation : |
Director |
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Address : |
E -1/79, Arera Colony, Bhopal – 462 016, Madhya Pradesh, India |
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Date of Birth/Age : |
10.07.1971 |
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Date of Appointment : |
27.10.1995 |
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Name : |
Mr. Pawan Agarwal |
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Designation : |
Director |
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Address : |
E -1/79, Arera Colony, Bhopal – 462 016, Madhya Pradesh, India |
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Date of Birth/Age : |
31.07.1974 |
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Date of Appointment : |
10.12.2005 |
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Name : |
Mrs. Jyoti Agarwal |
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Designation : |
Director |
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Address : |
E -1/79, Arera Colony, Bhopal – 462 016, Madhya Pradesh, India |
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Date of Birth/Age : |
01.04.1971 |
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Date of Appointment : |
27.10.1995 |
KEY EXECUTIVES
|
Name : |
Mrs. Ritu Varshney |
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Designation : |
Secretary |
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Address : |
35, Senior, Hig Katar Hills,
Bhopal – 462 043, Madhya Pradesh , India |
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Date of Birth/Age : |
17.04.1978 |
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Date of Appointment : |
12.12.2006 |
SHAREHOLDING
PATTERN
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
|
1 |
Foreign holdings (Foreign institutional
investor(s), Foreign companie(s), Foreign financial institution(s), Non – Resident
Indian(s) or Overseas corporate bodies or others |
7.14 |
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2 |
Bodies Corporate |
21.36 |
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3 |
Directors or relative of directors |
71.50 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publishers of Newspaper, Periodicals, Magazines, Pamphlets, Journals,
etc. |
GENERAL
INFORMATION
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No. of Employees : |
2000 |
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Bankers : |
NA |
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Financial Institutions: |
Rabo India Finance Limited Address: 1 A, Janpath, New Delhi – 110 001, India Email ID: sejal.jaradi@rabobank.com |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Gupta Navin K and Company Chartered Accountants |
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Address : |
Dal Bazar, Gwalior – 474 009, Madhya Pradesh, India |
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Associates/Subsidiaries : |
Name of the company: Synergy
Media Entertainment Limited CIN of the company
:U92132MP2005PLC18039 |
CAPITAL STRUCTURE
As on 31.03.2006:
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000000 |
Equity shares |
Rs. 10/- each |
Rs.2500.0000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
168788766 |
Equity shares |
Rs. 10/-
each |
Rs.1687.887
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
|
1136.664 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
1137.164 |
0.500 |
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LOAN FUNDS |
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1] Secured Loans |
|
3398.873 |
0.000 |
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2] Unsecured Loans |
|
182.062 |
0.000 |
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TOTAL BORROWING |
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3580.935 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
247.470 |
0.000 |
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TOTAL |
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4965.569 |
0.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1357.865 |
0.000 |
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Capital work-in-progress |
|
5.029 |
0.000 |
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INVESTMENT |
|
700.868 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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559.897 |
0.000 |
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Sundry Debtors |
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1146.710 |
0.000 |
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Cash & Bank Balances |
|
79.581 |
0.000 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
1606.599 |
0.470 |
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Total
Current Assets |
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3392.787 |
0.470 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
361.119 |
0.005 |
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Provisions |
|
151.165 |
0.000 |
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Total
Current Liabilities |
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512.284 |
0.005 |
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Net Current Assets |
|
2880.503 |
0.465 |
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MISCELLANEOUS EXPENSES |
|
21.304 |
0.035 |
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TOTAL |
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4965.569 |
0.500 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
|
31.03.2006 |
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Sales Turnover |
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|
1746.948 |
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Other Income |
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3582.997 |
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Total Income |
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5329.945 |
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Profit/(Loss) Before Tax |
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|
509.973 |
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Provision for Taxation |
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|
0.000 |
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Profit/(Loss) After Tax |
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|
509.973 |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
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|
303.435 |
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Managerial Remuneration |
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|
0.890 |
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Payment to Auditors |
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|
0.600 |
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Interest |
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|
182.727 |
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Insurance Expenses |
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|
5.729 |
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Power & Fuel |
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|
86.572 |
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Depreciation & Amortization |
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84.536 |
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Other Expenditure |
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1414.861 |
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Total Expenditure |
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2079.350 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
9.56 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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29.19 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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10.72 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.44 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.59 |
0.01 |
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Current Ratio (Current Asset/Current Liability) |
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6.62 |
94.00 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U22210GJ1995PLC047208 |
|
Name of the company |
DB CORP LIMITED |
|
Address |
Plot No. 280, Sarkhej Gandhinagar Highway, Near YMCA Club , Makarba
-380 054, Ahmedabad, Gujarat |
|
This Form is for |
Creation of charge |
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Type of Charges |
Book debts Others |
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Particular of the charge holder
|
Rabo India Finance Limited Address: 1 A, Janpath, New Delhi – 110 001, India Email ID: sejal.jaradi@rabobank.com
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Nature or description of the instrument creating charge |
Deed of hypothecation |
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Date of the instrument creating charge |
04.05.2007 |
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Amount Secure by the charge |
Rs. 1400.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interest : A variable interest rate linked to RIF Reference Rate. This interest
rate currently works out to 11.25% p.a. The interest rate shall be reset on
annual basis at the end of every year from the date of disbursal based on RIF
‘s reference rate. Terms of repayment: In 18 equal quarterly installment starting at the end of 9 month from
date of first drawdown Margin: Not applicable Extent and operation of the
charge: 1st charge on pari passu basis with yes Bank Limited for
term loan of Rs. 700.000 millions on all movable properties, both present and
future, including, but not limited to plant and machinery, etc. pertaining to
“Dainik Bhaskar” Centres,/ Location At Chandigarh, Panipat, Hissar, Noida,
Faridabad, Delhi, Bhopal / Govindpura (Bhopal), Indore, Raipur, Bilaspur,
Jaipur, Udaipur, Kota, Ajmer, Jodhpur, and Bikaner with a rest as per the
optional attachment. Others: Pursuant to the scheme of arrangement between Writers and Publishers
Limited and DB Corp Limited Sanctioned buy hon’ble high court of Gujarat vide
its order dated 10.10.2006, Writers and Publishers writers is demerged into
DB Corp Limited w.e.f. 12.12.2006. Therefore this hypothecation deed is
executed to secure the term loan of Rs. 1400.000 millions which was the Term
loan of Writers and Publishers limited prior to de-merger, and as per the
scheme is now the Term loan of DB Corp Limited. |
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Short particulars of the
Property charged |
The whole of the movable properties of the borrower pertaining to
“Dainik Bhaskar centres” / location as more particularly described in the
schedule I of the hypothecation deed and the whole of the current assets of
the borrower’s stock of raw materials, semi finished and finished goods,
stores and spares not relating to plant and machinery (consumable stores and
Spares), Bills receivables and book debts and all other movables , both
present and future whether lying -rest as per the optional attachment. |
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 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.39.41 |
|
UK Pound |
1 |
Rs.79.81 |
|
Euro |
1 |
Rs.57.58 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
---- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
|