MIRA INFORM REPORT
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Report Date : |
05.01.2007 |
IDENTIFICATION DETAILS
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Name : |
THE HIND SAMACHAR LIMITED |
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Registered Office : |
207-R, Model Town,
Jalandhar – 144003, Punjab |
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Country : |
India
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.08.1949 |
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Com. Reg. No.: |
16-1529 |
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CIN No.: [Company Identification No.] |
L22121PB1949PLC001529 |
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TAN No.: [Tax Deduction & Collection Account No.] |
DELT04710G |
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PAN No.: [Permanent Account No.] |
AAIPC6242Q |
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Legal Form : |
Closely
Held Public Limited Liability Company |
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Line of Business : |
Traders
and Publishers of Newspaper. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1750000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Unknown |
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Comments : |
Subject
is a well established and reputed publishers of newspapers and
periodicals. Directors are reported
as experienced and respectable businessmen.
Trade relations are fair.
Payments are however reported as slow but correct. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
207 – R, Model Town,
Jalandhar - 144003, Punjab, India |
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Tel. No.: |
91 – 181 – 2280104 to 6 |
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Press : |
91 – 181 – 2280106 |
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Fax No.: |
91 – 181 – 2280113 / 2280111 |
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E-mail : |
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Area : |
500 sq. mtrs. |
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Location : |
Owned
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Head Office/Mines : |
Hind Samachar Street, Pucca
Bagh, Civil Lines, Jalandhar - 144 001, Punjab, India |
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Tel. No.: |
91 – 181 – 2280104 to 6 |
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Fax No.: |
91 – 181 – 2280113 / 2280111 |
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Area : |
15000
sq. mtrs. |
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Location : |
Owned |
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Branches : |
☻
Romesh Bhawan, Plot
No. 2, Printing Press Complex, Near Wazirpur, DTC Depot, Lawrence Road, New
Delhi - 110 027, India ☻
Shanti Bhawan,
Jagadhari Road, Near DAV School, Ambala Cantt., Haryana, India Located
at : Punjab
Kesri, Jalandhar Punjab
Kesri, Ambala Punjab
Kesri, Delhi Hind
Samachar, Jalandhar Hind
Samachar, Ambala Hind
Samachar, Jag Bani, Jalandhar |
DIRECTORS
|
Name : |
Mr. Vijay Kumar Chopra |
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Designation : |
Chairman & Managing
Director |
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Address : |
Model
Town, Jalandhar, Punjab |
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Date of Birth/Age : |
56
years |
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Qualification : |
Graduate
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Experience : |
35
years |
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Name : |
Mr. Ashwani Kumar Chopra |
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Designation : |
Director |
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Address : |
Model Town, Jalandhar, Punjab |
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Date of Birth/Age : |
39
years |
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Qualification : |
MBA |
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Experience : |
10
years |
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|
Name : |
Mr. Tilak Raj Suri |
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Designation : |
Director
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Name : |
Mr. Bhag Singh Sidhu |
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Designation : |
Director
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Name : |
Mrs. Sudarshan Chopra |
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Designation : |
Director
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Address : |
Model Town, Jalandhar, Punjab |
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Date of Birth/Age : |
53
years |
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Qualification : |
Graduate
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Name : |
Mrs. Swadesh Chopra |
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Designation : |
Director
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Name : |
Mr. Avinash Chopra |
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Designation : |
Director
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Address : |
Model Town, Jalandhar, Punjab |
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Qualification : |
Graduate
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Experience : |
7
years |
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Name : |
Mr.
Amit Chopra |
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Designation : |
Director
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Address : |
Model
Town, Jalandhar, Punjab |
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Qualification : |
Graduate |
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|
Name : |
Mr. Arvind Chopra |
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Designation : |
Director
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Address : |
Model
Town, Jalandhar, Punjab |
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Qualification : |
Graduate |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
Percentage of Holding |
|
Directors and their family
members. |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders
and Publishers of Newspaper. |
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Products : |
☻
Newspaper Publishing |
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Brand Names : |
“Punjab
Kesari”, “Jag Bani”, “Hind Samachar” |
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Agencies Held : |
Carrier
Aircone |
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Exports to : |
U.K.,
U.S.A., Canada, South Africa, Nepal and Sri Lanka [Punjab Kesri] |
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Imports from : |
Canada,
Scandenevia, Russia, Singapore, USA and Germany [Papers] |
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Terms : |
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Selling : |
Cash
and Credit (60/90 days) |
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Purchasing : |
Cash
and Credit [60 days] |
PRODUCTION STATUS
|
Particulars |
|
Unit |
Actual Production |
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Newspaper |
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Copies |
300000 per day |
GENERAL INFORMATION
|
Suppliers : |
˜
Mysore Paper Mills
Limited ˜
Hindustan Newsprints
Limited ˜
Nepa Limited, Nepa
Nagar ˜
Coates of India
Limited ˜
Rama Newsprint
Limited, Surat, Gujarat ˜
Shree Rajeshwaranand
Paper Mills Limited |
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Customers : |
Local
Customers Retailers Wholesalers
End
Users Government
Bodies |
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No. of Employees : |
700 |
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Bankers : |
Ø
Punjab & Sind
Bank, Jalandhar Ø
Union Bank of India Ø
State Bank of India,
Jalandhar Ø
Punjab National Bank,
Jalandhar Ø
Bank of India Ø
Bank of Punjab
Limited, Civil Lines, Jalandhar, Punjab |
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Facilities : |
Credit Limits : Punjab National Bank :Rs.
20.000 millions Punjab & Sind Bank : Rs.
15.000 millions |
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Banking Relations : |
Unknown
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Auditors : |
S.
C. Vasudeva and Company Chartered
Accountants, E-1,
Connaught Place, New Delhi-110001 Tel.
No. : 91-11-23328655 S.
C. Vasudeva and Company Chartered
Accountants, Raj
TPT Bldf, Gill Road, Ludhiana |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
34700 |
‘A’ class Equity Shares |
Rs. 100/- each |
Rs. 3.470 millions |
|
3000 |
‘B’ class Equity Shares |
Rs. 10/- each |
Rs. 0.030 million |
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Total |
|
Rs. 3.500 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
34700 |
‘A’ class Equity Shares |
Rs. 100/- each |
Rs. 3.470 millions |
|
3000 |
‘B’ class Equity Shares |
Rs. 10/- each |
Rs. 0.030 million |
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Total |
|
Rs. 3.500 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
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|
31.03.2006 |
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SHAREHOLDERS
FUNDS |
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1]
Share Capital |
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|
3.500 |
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2]
Reserves & Surplus |
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|
462.000 |
NETWORTH
|
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|
465.500 |
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LOAN
FUNDS |
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1]
Secured Loans |
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78.000 |
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2]
Unsecured Loans |
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|
23.000 |
TOTAL
BORROWING
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|
101.000 |
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TOTAL
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566.500 |
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APPLICATION
OF FUNDS |
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FIXED
ASSETS [Net Block] |
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525.600 |
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Capital
work-in-progress |
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|
0.000 |
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INVESTMENTS |
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7.500 |
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CURRENT
ASSETS, LOANS & ADVANCES |
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Inventories |
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|
81.000 |
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Sundry
Debtors |
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|
4.900 |
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Cash
& Bank Balances |
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|
40.500 |
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Other
current assets |
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|
0.000 |
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Loans
& Advances |
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|
24.600 |
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Total Current Assets |
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|
151.000 |
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Less:
CURRENT LIABILITIES & PROVISIONS |
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Current
Liabilities |
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|
124.600 |
|
Provisions |
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|
0.000 |
Total Current Liabilities
|
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|
124.600 |
Net
Current Assets
|
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|
26.400 |
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MISCELLANEOUS EXPENSES |
|
|
7.000 |
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TOTAL
|
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566.500 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales
Turnover [including other income] |
|
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1660.500 |
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Profit/(Loss)
Before Tax |
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168.500 |
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Provision
for Taxation |
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|
42.000 |
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Profit/(Loss)
After Tax |
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|
126.500 |
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Import
Value |
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|
35.000 |
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Total
Expenditure
|
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1492.000 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
PAT / Total Income
|
(%)
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7.61 |
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Net Profit Margin
(PBT/Sales) |
(%) |
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10.14 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
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24.90 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.36 |
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Debt Equity Ratio
(Total Liability/Networth) |
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0.48 |
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Current Ratio
(Current Asset/Current
Liability) |
|
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|
1.21 |
LOCAL AGENCY FURTHER INFORMATION
The company is trading as
“Punjab Kesari”.
Trade Reference :
Carrier Aircone Limited
The following are the
Newspapers published by the company :
˜
Daily Punjab Kesari (Hindi)
˜
Daily Jag Bani (Punjabi)
˜
Daily Hind Samachar
(Urdu)
The company’s fixed assets of
important value include land, plant & machinery, building, furniture &
fixtures, and building under construction.
Publication listings - Hind Samachar
Head
Office
Hind
Samachar, Hind Samachar Building, Civil Lines, Jallandhar, Punjab – 144001
Language
: Urdu
Category : Newspaper
Periodicity : Daily
City
: Jallandhar
Contact
: 91-181-280104-10
Fax
: 91-181-280111
Branches
Ambala,
Jaipur,
Ahmedabad,
Bangalore,
Mumbai,
Kolkata, Chandigarh,
New Delhi,
Kanpur,
Chennai,
Secunderabad
DELHI
Romesh
Bhawan, 2, Printing Press Complex, Near Wazirpur DTC Depot. Ring Road,
Delhi-110052
Branch Contact : 91-11-27181133, 27187248,
27182957
AMBALA
Shanti
Bhawan, Jagadhri Road, Ambala Cantt.-133001
Branch Contact : 644902, 644903, 644904,
644905
JAIPUR
Plot
No. 5-C, Jahalana Dungri Institutional Area, Jaipur-302004
Branch Contact : 91-141-513530, 519431-35-36/ Fax
519435
AHMEDABAD
Mr. P. I. Dave, Sukhsagar Flat, Hira Baugh Railway
Crossing, Vasant Kunj Bus Stand, Near Sarda Mandir Road, Pali, Ahmedabad-380007
Branch Contact : 91-79-413340
BANGALORE
Mr.
Sudhir Salaria, 617-B, Mittal Towers, M.G. Road, Bangalore-560001
Branch Contact : 91-80-5550821, (R) 5245265
MUMBAI
Mr.
Sudhakar Shetty, The Hind Samachar Ltd., 113, Motlibai Wadia Building, 1st
Floor (Next to Bombay Samachar), 22-D, S.A. Brelvi Road, Fort, Mumbai-400001
Branch Contact : 91-22- 22872464, 22025303, 22025306
(O) / (R) 28163311
Fax
: 91-22-22872464
Kolkata
Mr. Rajesh Varma, Rajesh Associates, 209,
A.J.C. Bose Road, Flat No. 66A, 2nd Floor, Karmani Estate, Kolkata-700017
Branch Contact : 91-33-2478407. Fax 91-33-2408181
CHANDIGARH
Sh. Ashoka Nirdosh, 3905, Sector 22-D, Chandigarh
Branch Contact : 91-712-7110066, 7110008. (R)
603302/ Fax 91-712-7110005
NEW
DELH
Sh.
T.J.L. Kutty, 5/5 INS Building, Rafi Marg, New Delhi-110001
Branch Contact : 91-11-23714473, 23353257, 23715401,
23353258, (R) 22712931/ Fax 23715112
KANPUR
Mr.
J.K. Awasthi, Awasthi Associates, 111/325, Ashok Nagar, Kanpur-12
Branch Contact : 290827
CHENNAI
Mr.
L. Prakasam, Praksam Associates, 4/2, Thiruveedhi, Amman Koil Street, West
Mambalam, Chennai-600033
Branch Contact : 91-44-24850832
SECUNDERABAD
K.V.R.
Associates, Prachara Nilayam, 29-1380/2, Deendayal Nagar, Ramakrishnapuram
P.O., Secunderabad-500056 (AP).
Tel.
No. : 91-40-27121588, 27124698. Fax 91-40-27124698
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.44.30 |
|
UK
Pound |
1 |
Rs.85.83 |
|
Euro |
1 |
Rs.57.92 |
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 |
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions