MIRA
INFORM REPORT
|
Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MUKTA
ARTS LIMITED |
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Registered Office : |
6,
Bashiron, TPS III, 28th Road, Bandra (West), Mumbai-400050,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.09.1982 |
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Com. Reg. No.: |
11-28180 |
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CIN No.: [Company
Identification No.] |
L92110MH1982PTC028180 |
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Legal Form : |
Private
Limited Liability Company. The Company’s shares are listed on Stock
Exchanges. |
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Line of Business : |
Entertainment company with presence in Film Production,
Television Content production, Film Distribution and Equipment Hiring for
Film Making. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow
by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject
is an old company of Mr. Subhash Ghai, a well-known film producer. It
could not perform well on the Stock Exchanges as well in business as
company’s shares are traded at substantially lower price in comparison to
offer price. It’s
financial position is fast deteriorating with no significant profit. The
company can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered/ Head Office : |
6,
Bashiron, TPS III, 28th Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
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Tel. No.: |
91-22-26421332 |
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Fax No.: |
91-22-26405727 |
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E-Mail : |
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Website : |
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Creative
Office : |
Bait-ush-sharaf, 29th Road , T.P.S III, Bandra (W), Mumbai 400 050 |
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Tel.
No.: |
91-22-26458536 |
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Fax
No.: |
91 22 26426704 |
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Branches
: |
Whistling Woods
International |
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Tel.
No.: |
91-22-26400933 |
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Fax
No.: |
91-22-26458536 |
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Website
: |
DIRECTORS
|
Name : |
Mr.
Subhash Ghai |
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Designation : |
Chairman
and Managing Director |
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Date of Birth/Age : |
63
years |
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Qualification : |
B.Com,
Diploma in Cinema from FTII, Pune |
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Experience : |
37
years |
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Date of Appointment : |
07.09.1982 |
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Previous Employment : |
Promoter
of the Company |
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|
Name : |
Mr. Parvez
Farooqul |
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Designation : |
Executive
Director |
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|
Name : |
Mrs.
Meghna Ghai Puri |
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Designation : |
Director |
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|
Name : |
Mr.
Anil Harish |
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Designation : |
Director |
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Date of Birth/Age : |
52 |
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Qualification : |
B.A LLB |
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Other Directorships: |
Ø
Hotel
Leelaventure Limited Ø
Induslnd Bank
Limited Ø
Pantaloon
Retail (India) Limited Ø
Hinduja TMT
Limited Ø
Mahindra Gesco
Developers Limited Ø
Adore Welding
Limited Ø
Unitech Limited Ø
Advani Hotels
& Resorts (India) Limited Ø
Valecha
Engineering Limited Ø
Tolani Shipping
Co. Limited Ø
K.C.Maritime (India)
Limited Ø
Prebon Yamane
India Limited Ø
Tower Insurance
& Reinsurance Services (India) Limited Ø Induslnd Media & Communications Limited |
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Name : |
Mr.
Vijay Choraria |
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Designation : |
Director |
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Name : |
Mr.
Pradeep Guha |
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Designation : |
Director |
KEY EXECUTIVES
|
Name
: |
Mr.
Ravi B. Poplai |
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Designation
: |
Company
Secretary and Compliance Officer |
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Name
: |
Mr.
Ravi Gupta |
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Designation
: |
Chief
Executive Officer |
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Date
of Birth/Age : |
54
years |
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Qualification
: |
M.Sc.,
M.B.A. |
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Experience
: |
31
years |
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Date
of Appointment : |
01.04.2004 |
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Previous Employment : |
Global
CEO, LMB Holdings Limited Isle of Man |
BUSINESS DETAILS
|
Line of Business : |
Entertainment company with presence in Film Production,
Television Content production, Film Distribution and Equipment Hiring for
Film Making. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Ø
Punjab
National Bank Limited Ø
HDFC
Bank Limited Ø
Standard
Chartered Bank |
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Facilities : |
Secured Loans :
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Banking Relations : |
Unknown |
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Auditors : |
Shamit
Majmudar Associates Chartered
Accountants |
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Associates/Subsidiaries : |
Companies : Ø
Whistling
Woods International Limited Ø
Mukta
Arts International Limited Ø
Mukta
Tele Media Limited Ø
Mukta
Adlabs Digital Exhibition Private Limited Ø
Mukta
Tele Arts Private Limited Firms : Ø
Mukta
Arts Ø
Metro
Films Trusts Ø
MAL
Employees Welfare Trust |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
24000000 |
Equity
Shares |
Rs.5/- each |
Rs.120.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
22581200 |
Equity
Shares |
Rs.5/- each |
Rs.112.906 millions |
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|
Add :
Forfeited Shares |
|
Rs.0.011 |
|
|
Total |
|
Rs.112.917 |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
112.917 |
112.917 |
112.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
975.255 |
1029.604 |
1199.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1088.172 |
1142.521 |
1312.400 |
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|
LOAN FUNDS |
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|
|
1] Secured Loans |
107.355 |
2.135 |
2.400 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
107.355 |
2.135 |
2.400 |
|
|
DEFERRED TAX LIABILITIES |
9.935 |
12.186 |
0.000 |
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TOTAL |
1205.462 |
1156.842 |
1314.800 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
184.057 |
204.734 |
215.400 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.700 |
|
|
|
|
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INVESTMENT |
631.070 |
620.617 |
754.100 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
273.714 |
37.515 |
129.000 |
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|
Sundry Debtors |
78.128 |
104.702 |
48.200 |
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|
Cash & Bank Balances |
22.863 |
25.231 |
49.800 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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|
Loans & Advances |
298.548 |
289.584 |
256.500 |
|
Total Current Assets |
673.253
|
457.032 |
483.500 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
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|
Current Liabilities |
|
|
39.200 |
|
|
Provisions |
|
|
130.500 |
|
Total Current Liabilities |
303.442
|
151.195 |
169.700 |
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|
Net Current Assets |
369.811
|
305.837 |
313.800 |
|
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|
|
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MISCELLANEOUS EXPENSES |
20.524 |
25.654 |
30.800 |
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|
|
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|
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TOTAL |
1205.462 |
1156.842 |
1314.800 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
436.008 |
511.629 |
313.700 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
(57.732) |
(167.555) |
58.400 |
|
Provision
for Taxation |
(114.188) |
(337.221) |
24.500 |
|
Profit/(Loss)
After Tax |
(56.456) |
(169.666) |
33.900 |
|
|
|
|
|
|
Export
Value |
5.227 |
32.890 |
NA |
|
|
|
|
|
|
Total
Expenditure |
491.374 |
679.162 |
255.300 |
QUARTERLY
/ SUMMARISED RESULTS
|
PARTICULARS |
|
30.06.2006 |
30.09.2006 |
|
Sales Turnover |
|
415.7 |
98.0 |
|
Other Income |
|
10.1 |
10.0 |
|
Total Income |
|
425.8 |
108.0 |
|
Total
Expenditure |
|
434.7 |
101.9 |
|
Operating
Profit |
|
(08.9) |
6.1 |
|
Interest |
|
0.1 |
0.2 |
|
Gross Profit |
|
(9.0) |
5.9 |
|
Depreciation |
|
5.5 |
5.6 |
|
Tax |
|
0.8 |
0.2 |
|
Reported PAT |
|
(14.7) |
0.7 |
Notes
200606 Quarter 1
EPS is Basic and
Diluted 1. Administrative and Office Expenses include last installment of
keyman insurance premium of CMD Rs.392.17 lakhs. The Total amount of Premium paid
towards CMD's Keymans Insurance is Rs. 235.302 millions. 2. During the quarter,
the Company has successfully released films 'Shaadi Se Pehle' and '36 China
Town'. 3. Whistling Woods Institute promoted by the company, was inaguarated on
18.07.2006. 4. The under production films 'Apna Sapna Money Money' and 'Good
Boy Bad Boy' are fast nearing completion. 5. The Auditors have conducted a
Limited Review of the above financial results for the quarter ended on
30.06.2006. 6. The above Unaudited Financial Results were reviewed by the Audit
committee on 29.07.2006 and taken on record by the Board of Directors in its
meeting held on 31.07.2006. 7. Information on Investor complaints for the
quarter-(Nos), Opening Balance-0, New - 1, Disposals - 2, Closing Balance - 0.
200609 Quarter 2
Notes:
a. The Company has
assigned the Satellite Rights for Rs.220 millions in respect of its 12 old
films for 5 years to Zee Telefilms Ltd. Of these 12 films the rights for 10
film shall be effective from 28.02.2007, for 1 film from 31.12.2007 and for 1
film from 12.06.2008. Hence it has not been accounted for in this Quarter. b.
The music of 'Apna Sapna Money Money' was released in this quarter and the film
is scheduled for theatrical release in the month of November 2006. c. The
auditors have conducted a 'limited Review' of the above financial results for
the quarter ended on 30.09.2006. d. The above Unaudited Financial Results were
reviewed by the Audit Committee and taken on record by the Board of Directors
in its meeting held on 28.10.2006. e. Information on investor complaints for
the quarter-(Nos.): Opening balance=0, New=2, disposals=2, Closing Balance=0.
KEY
RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
0.05 |
0.00 |
0.00 |
|
Long Term Debt-Equity Ratio |
0.05 |
0.00 |
0.00 |
|
Current Ratio |
2.37 |
2.82 |
2.06 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
1.09 |
1.36 |
0.67 |
|
Inventory |
2.57 |
5.77 |
2.82 |
|
Debtors |
4.38 |
6.28 |
4.61 |
|
Interest Cover Ratio |
(95.33) |
(278.33) |
195.67 |
|
Operating Profit Margin(%) |
(6.80) |
(28.10) |
40.73 |
|
Profit Before Interest And Tax Margin(%) |
(14.30) |
(34.79) |
27.08 |
|
Cash Profit Margin(%) |
(6.63) |
(28.67) |
29.29 |
|
Adjusted Net Profit Margin(%) |
(14.13) |
(35.35) |
15.64 |
|
Return On Capital Employed(%) |
0.00 |
0.00 |
4.60 |
|
Return On Net Worth(%) |
0.00 |
0.00 |
2.59 |
STOCK PRICES
|
Face
Value |
Rs.10.00/- |
|
High |
Rs.64.80/- |
|
Low |
Rs.62.70/- |
LOCAL AGENCY
FURTHER INFORMATION
History :
Subject headed by Subhash Ghai, a well known Hindi film
personality is one of the complete entertainment company with presence in Film
Production, Television Content production, Film Distribution and Equipment
Hiring for Film Making.
It is the first Hindi film production company to tap the capital markets.
Established in 1982, it has several hits to its credit with a strong backing of
Subhash Ghai, its chairman. The company come out with a maiden Rs.1000 millions
public issue in July 2000. Out of which Rs.750 millions was the book built
portion. The allotment finalised in the last week of July resulted in high net
worth individuals getting 50% of the book-built portion (Rs.750 millions). It
has made its debut on the BSE at a premium of about 33% to its offer price of
Rs.165 for a Rs.5 paid-up share. The scrip got listed at Rs.220 on the Bombay
Stock Exchange (BSE).
Presently the company is the generation and distribution of contents forthe
entertainment industry. It has to its credit a long list of commercially
successful Hindi films. These films have been extensively appreciated by the
audience both in India and overseas. Subject is also engaged in the business of
hiring out cinematic equipment and owns a modern studio "Audeus"
which is equipped with sophisticated and state-of-the-art equipment for world
class production and post production operations. It has also forayed into the
distribution business.
The company plans to enter the television software arena with a library of
around 15 to 20 films. It will take the company another year or so to develop
this library. The company is also weighing the options to market these serials,
etc. to various channels, as the issues of control of rights, etc. have to be
looked into before venturing.
Further the company has set up a Story Development Workshops, the first of its
kind for the Hindi Cinema industry. This will help in creating a bank of
stories and scripts for content creation which can be used both for the film as
well as television medium.
The Company through its subsidiary Whistling Woods International Private
Limited is under processes of forming a Whistling Woods Institute, a joint
venture with the Maharashtra Film Stage and Cultural Development Corporation
Ltd, first of its kind, state of art film and television institute. It is
expected to start functioning on July 2005.
Industry Performance:
The film and television industry continued to be upbeat outpacing the
GDP (Gross Domestic Product) growth of the total Indian production and service
sectors. The entertainment industry has certainly benefited from the rapid
Indian economic growth. A paradigm shift is seen in the way content is
distributed which in turn will affect the way content is created. For the big
screen content has to have high production values, involving all the senses.
For the family screen (TV) content has to get interactive and have a hook that
keeps the viewer wanting to see the next episode, for the personal screen (lap
top and mobile) content has to be compelling, relevant and compressed. The
growth in the multiplexes continued at a significant pace with about 100
multiplexes already operational in India and another 100 in the pipeline. Owing
to the high ARPU (Average Realization Per Unit) in the multiplexes, the larger
number of shows, lower tax structures they are already contributing well over
50% of the theatrical collections for big releases and over the next few years
may account for over 75% of the gate collections for big releases. The other
area where significant growth was seen during the year is downloads on mobile
phones, of ringtones, singtones, polyphonic tones, video clippings, MMS
(Multimedia Messaging Service) etc. The downloads of ringtones provides a
silver lining to the otherwise faltering music industry and may bring
significant revenues from mobile phones in years to come reviving the fate of
the music industry and helping the film producers.
Television:
Many new channels were launched during the year. The biggest gainers
though seem to be the News channels. CAS (Conditional Access System) after
being given an unceremonious burial may be revived thanks to the Court ruling
directing the Government to implement the law on CAS. DTH (Direct to Home) has
taken off with two active operators despite several issues mainly relating to
the must carry directions of TRAI (Telecom Regulatory Authority of India). More
players are expected to get operational soon, key among them being TATA Sky in
which Star has a stake and SUN. Pay Per view has also made an entry through the
DTH route. Piracy continues to be a major factor affecting the music and movie
industry and will continue to affect the growth of VCD's, DVD's and other physical
and non physical formats. The Physical formats are increasingly likely to be
replaced by the non physical formats including downloads via the net and the
mobile phone.
A REVIEW OF OPERATIONS:
The Company has increased its activity levels significantly during the
year in production, distribution and exhibition. However the Company was unable
to distribute its film "Shaadi Se Pehle" which was ready towards the
end of the year as a release during the examination period would have been
commercially unwise. Music release of "36, China Town" and
"Shaadi Se Pehle" though was possible during the year. The revenues
and profits of this film therefore move into the next financial year impacting
both the top line and bottom line during the current year. During the year the
Company made a loss of Rs.56.46 millions after tax. The Company can be deemed
to have made operational profits if they keep in mind that Rs.39.20 millions of
the administration expenses the Keyman Insurance premium is really an
investment. Further the depreciation amount is Rs.29.98 millions. Thus
operationally the Company has made cash profits.
The revenues during the year are largely from exhibition and
distribution activities, accounting for over 50% of revenues. "Iqbal"
was the only film produced by the Company which was released during the year.
Additionally the Company acquired the negative rights of the film "Socha
Na Tha" adding one more film to the Company's growing library. They
further need to keep in mind that the costs of the film "Iqbal" and
the acquisition costs of the film "Socha Na Tha" have been fully
expensed during the year although the rights of both these films vest with the
Company in perpetuity and the films will continue to bring in revenues over a
period of time. The Company's biggest achievement during the year has been
completing the Whistling Woods project. Not only was the infrastructure
component completed successfully but the Intellectual component of a committed
Governing Council, an accomplished Dean and faculty, curriculum etc. has been
put in place. Whistling Woods has truly shaped into a World Class Institute
with tremendous promise and potential.
EQUIPMENT DIVISION:
No new equipment was purchased during the year and competition from
equipment and service suppliers has been stiff. Management had taken a decision
last year to close down the Audeus Studio which has been making losses.
Accordingly the Audeus complex has been demolished and plans have been
finalized and approved for construction of a commercial complex which is being
executed through an outsourced development agreement. The work on the complex
will begin by September 2007 and the building is expected to be ready in 2009.
Significant revenues are expected from the sale/lease of the Company's share in
the commercial complex. This will release a lot of unlocked value from the
prime property where Audeus was housed. A part of the equipment has been leased
out to Whistling Woods International at Film City and a part of the equipment
has been relocated at the Company's other offices.
Equipment revenue from production services will continue and be more
profitable.
DISTRIBUTION
The income from the equipment division has been more or less stagnant.
This has to do with the fact The Company has increased its bandwidth is
distribution and exhibition. During the year it has distributed and/or
exhibited over 25 films in part territories. These included "Paheli",
"Harry Potter", "Family", "Waqf, 'Garam Masala",
"Iqbal", 'Ek Ajnabi', 'Barsaat", "Taj Mahal" and others.
Mukta Movies Distributors (MMD) has now become a key player in the distribution
business in the major territories of Punjab and Delhi-UP.
The Company continued its expansion of the exhibition activity and now
controls about 30 theatres for programming and booking particularly in the
areas of Delhi, U. P. and Punjab. All major multiplex chains are now included
for programming with the addition of two Adlabs sites in UP.
OTHER INCOME:
The investments of surplus funds in debt related mutual funds and permissible
investments have yielded decent returns. Amount of revenue from this area
remained stable inspite of increased capital requirement for four films. A loan
of Rs.150 millions has also been given to its subsidiary Whistling Woods
International Limited.
TELEVISION:
During the year the Company has undertaken the production of a feature
film tentatively titled "Raasta Pyar Ka" for Zee Network to launch
Zee's winner's of India's Best talent hunt. Although other offers for
television programming were received by the Company, the Company did not
consider it adequately rewarding to produce content where it did not hold any
IPR. The Company believes that just doing job work for television channels may
add to the top line but is not necessarily the best use of the Company's
creative resources. Company is exploring IVR deals on TV with major C&S
players.
OUTLOOK:
During the forthcoming year the Company expects to complete and release
four films with three more films set to go on the floors soon. "Shaadi Se
Pehle" a film by Satish Kaushik and "36 China Town" a film by
Abbas Mastan have been released in the 06-07 financial year. Both the films
have booked decent profits. Apart from that they would be releasing "Apna
Sapna Money Money" a film by Sangeet Sivan and "Good Boy Bad
Boy" a film by Ashwini Chowdhary. They also hope to release "Raasta
Pyar Ka" a film made for Zee where they hold the IPR for theatrical
release, Music and other rights. Whistling Woods International has taken off
very well operating over the targeted capacity for the first semester. It will
achieve full capacity by fourth semester and may break even earlier than
planned. WWI is expected to create a valuable talent pool in the years to come
that could augment the Company's own talent needs as well as contribute to the
industry. Other potential areas of revenue may include franchising, resource
leasing, consultancy, R&D for industry and Government. The library of 12
films currently with Sony Entertainment Television India for the satellite
rights is due for recycling in the next financial year and is expected to yield
significant revenues.
SWOT Analysis
Strengths: The Company has a long term vision, a reputed creative leader
in Subhash Ghai, proven strength in content creation, distribution and
marketing, a good size library of films that is fully amortized in he books of
accounts, a band width in management and significant real estate. Weakness (and
action management is taking to address these): Its overdependence on one
creative individual (management is working towards engaging independent film
directors), its heavy dependence on film production which accounts for the bulk
of revenues (management has de-risked by stepping up distribution, exhibition
activities; in the current year over 50% revenues are on account of
distribution/exhibition), failure to enter into Television content
(managements' efforts to produce TV content where Company can hold some IPR
such as Tele Films, Formatted shows continues), heavy dependence on the success
of films at box-office (management has de-risked by judiciously selling and
distributing rights so as to minimize risks and maximize profits), lock-in of
capital in unproductive areas such as Audeus, MADEL (management has closed down
Audeus and exited from MADEL) Opportunities: Management sees great
opportunities in Animation, Special Effects, Gaming, Mobile Content,
Advertisement, Media Education, New Technologies including HD, 3D, Digital Film
Making etc and is working towards appropriate tie-ups to be able to cash in on
these opportunities. Threats: Independent Producers, Media Corporate Houses,
International Players entering the Indian media space, New Technologies and
failure to keep pace with them, churn of key personnel. Management is fully
aware of and takes these threats seriously and is continuously working to
keep its powders dry.
Company’s
fixed assets include Ownership Premises, Plant and Machinery, Motor Vehicles,
Furniture Fixture and Office Equipments, Computer software and Exhibition
Rights
Website Details :
Subject
has always dreamt of and committed all their endeavors towards integrating a
world class Studio culture from education to exhibition, production to
distribution, thereby equipping the company to lead and enrich the world of
entertainment.
Started 28
years ago, Subject is one of the most reputed companies in the Indian
entertainment industry and has pioneered many firsts, which has been a
benchmark for other companies in this sector. Mr. Subhash Ghai, the name behind
Subject and an institution in himself, is the founder and creative head of the
company and it’s his vision, which has capitulated subject to where it has
today.
The
present business of subject is the generation and distribution of contents for
the entertainment industry. It has to its credit a long list of commercially
successful Hindi films. These films have been extensively appreciated by the
audiences both in India and overseas. These films also have considerable
archival value, which ensures a steady flow of revenue into the company. In
addition to this the company also controls over 50 multiplex and single screens
in the North of India. These include some of the biggest chains in the country
like PVR, Fun Republic and Adlabs. This gives the company major distribution and
exhibition strength which it passes on, not just for its own films but also for
those from outside producers.
During the
last 28 years, the company has produced over 20 films and growing, all of which
have generated tremendous profits for the company. Most of these films have
been directed by Mr. Ghai and some of them are amongst the most popular hindi
films in recent times. Films like Karz,
Hero, Karma, Ram Lakhan, Saaudagar, Khalnayak, Pardes, Taal and Yaadein are memorable blockbusters
which have a huge fan following. In addition to this, the company has also
produced some memorable movies with outside directors including major hits like
Jogger’s Park, Aitraaz, Iqbal and
their most recent film 36 Chinatown.
Movies like Joggers Park and Iqbal demonstrate that the company
has a varied definition of quality cinema which spans across budget, genre and
scale making Subject films some of the most sought after products with
audiences, critics and the trade.
Subject
has been scaling up its productions and this year, it has already released two
big films, Satish Kaushik’s Shaadi Se
Pehle and Abbas-Mustaan’s 36
Chinatown. Also on floor and to be released this year are Sangeet
Sivan’s Apna Sapna Money Money
and Ashwini Chaudhary’s Good Boy Bad
Boy. Mukta is now finalizing its future slate that will include films
with Abbas-Mustaan, Nagesh Kukunoor and of course Mr. Ghai’s next highly
anticipated extravaganza.
The most
prestigious project for Subject currently is The Whistling Woods Institute for Film, Television and Media Arts (WWI). WWI will be India’s leading
private film school nestled in Film City on twenty acres of landscaped grounds.
The Institute will prepare gifted, raw talent for careers in the Entertainment
Industry by providing unparalleled training in all aspects of filmmaking and
television production – the aesthetic, the technical and the professional.
Outfitted
with state-of-the-art facilities and running in conjunction with a fully
operational professional shooting studio, the Whistling Woods Institute will be
a benchmark facility in South Asia. Leading educators, filmmakers, technicians
and professionals from the Indian industry and abroad will form the core
faculty, with a student body selected from the best of Indian, Asian, NRI and
international candidates.
A
broad-based curriculum, designed in affiliation with one of the world’s premier
film schools will offer students a modern, thorough and balanced curriculum and
a platform from which to enter into the film and television industries. With a
well-rounded foundation programme, concentrated specialization programme,
internship programmes and access to the Research and Development Center for
Advanced Media Studies, students will be given a uniquely effective pathway to
success
Production Services
One of India's leading
production houses, Subject provides extensive production facilities to other
production houses and independent producers. Subject has substantial
infrastructure to facilitate any kind of film production.
Production facilities include:
Generator vans
Arri III, Arricam cameras with Hawk Lens
Lights
Grip equipments
Remote control pheonix crane, Height 48ft.
Location Sync sound system
Press Release :
Round Two of Subhash Ghai’s Black & White
-First schedule completed at various locations in
Delhi-
Mumbai, 15th December 06 :
Subhash Ghai’s latest directorial venture Black &
White is all set for round two - their 2nd schedule will commence on the 16th
of December to 29thDecember in Mumbai with the entire star cast. The film stars
Anil Kapoor, Shefali Shah and introduces new find Anurag Sinha and Aditi Sharma
as the lead pair.
The cast & crew of Black & White recently
returned from its first schedule of 15 days in Delhi. The film was launched on
24th October 06 on the Subject anniversary.
The film is slated for a mid 2007 release
Produced by Subhash Ghai and directed by Sangeeth Sivan the
director of ‘Kya Kool Hai Hum’
Apna Sapna Money Money revolves around a bunch of madcap characters that eat,
drink, sleep and
worship money. A fast-paced situational comedy, it is glorified by
an ensemble of assorted and interesting characters. The story revolves around a
mechanic, a conman, a club dancer, an upright cop, an obsessed father & his
homely daughter, a tabela owner, a ruthless gangster, a deadly don & his
moll and an unpredictable dog. A journey filled with rib-tickling moments
throughout. If one runs after money, the other runs after love and the one who
runs after love eventually runs after money. A hilarious journey of 11, a
limitless quest for money, and a twisting and turning tale of love; the money
swings around them and creates amusing and maddening circumstances. A dramatic
turn evolves when all the characters starts looking for the hidden diamonds
that are worth a lump-sum! Greed. Craze. Obsession. Fun. Takes over. And a
madcap comedy of crime, love and complete zaniness continues... don’t be too
surprised if by the end it turns into your own Sapna Money Money
Integrated Ideas
Kinetic Blaze is the firth launch from Kinetic’s seven-vehicle Italiano series.
With its aggressive and glamorous Italian design, the very special Blaze makes
an instant celebrity of its rider.
Blaze is all about style, comfort, convience and ‘Shortcut to Fame’ and the
movie is called ‘Apna Sapna Money Money’ fits with the theme of the movie where
bunch of characters looking for diamonds in there chase for ‘Shortcut to Money’
The promo was sales driven promo, wherein those who test ride the
new kinetic blaze could get a chance to meet the actress I.e. Riya, Celina and
Koena from Apna Sapna Money Money.
About the Deal
An innovative plateform where the client gets to create a whole new TVC and the
stars of the movie as indirect endorsers for the brand.
Details:
Co branded TVCM
Meet and greet the star’s with the Kinetic dealers
Sales driven contest organized in eight cities
Win Win
Brands receives visibility worth 8.0 millions at the cost of just 1.9 millions
media spend.
Meet and greet with the stars which would have come to an exorbitant cost.
P9 gets their commission for the deal.
Both the companies are benefiting from the deal by combining their synergies.
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.44.34 |
|
UK
Pound |
1 |
Rs.87.61 |
|
Euro |
1 |
Rs.57.61 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |
|