MIRA
INFORM REPORT
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Report Date : |
16.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SPENTA MULTIMEDIA |
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Registered Office : |
2nd Floor, Piramy Spenta, Mathuradas Mill Compound, N. M. Joshi
Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Contract Publisher for specialised and corporate needs / magazines
‘HAIR’ Indian Market. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
2nd Floor, Piramy Spenta, Mathuradas Mill Compound, N. M. Joshi
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-24811010 / 24811038 |
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Mobile No.: |
91-9821022501 |
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Fax No.: |
91-22-24811021 |
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E-Mail : |
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Website : |
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Area : |
7000 sq. ft. [Owned] |
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Press : |
Minoo Davar, PiramydSpenta, Mathuradas Mill Compound, N.
M. Joshi Marg, Lower Parel, Mumbai - 400 013, |
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Tel. No.: |
91-22-2481 1050/51 |
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Fax No.: |
91-22-2481 1021 |
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Area : |
20000 sq. ft. [Owned] |
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Branches : |
Located at :
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SOLE PROPRIETOR
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Name : |
Mr. Maneck Davar |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
B. A. |
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Experience : |
29 Years |
BUSINESS DETAILS
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Line of Business : |
Contract Publisher for specialised and corporate needs / magazines
‘HAIR’ Indian Market. |
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Exports : |
Magazines [ |
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Imports : |
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Products : |
Paper |
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Countries : |
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Terms : |
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Selling : |
Contractual |
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Purchasing : |
L/C, Cash, Credit and CAD |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
180 [In Office : 20 and in Factory : 160] |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Spenta Publisher |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 100.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 100.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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360.000 |
Expected Sales (2007-08) : Rs.400.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Jet Airways
AS PER WEBSITE
History
Subject was established in 1995 with the vision of tapping a hitherto unfulfilled need in the Indian publishing industry, namely, contract publishing for specialized and corporate needs. To fulfil this need, Spenta set about building resources, which would enable it to offer its clients complete publishing and printing solutions, ranging from conceptualization to editorial, design, printing, distribution, and advertisement sales.
Spenta began with a single magazine – Jetwings, the
in-flight magazine of
Spenta's success in growing the custom publishing
market enabled the company to invest in its own printing facility. This led to
a second revenue stream for Spenta,
namely, designing and high-end printing of books, art catalogues, brochures and
other print collateral for both corporates and individual customers.
Having established itself as a reputed player in the custom/contract
publishing and high-end printing space, Spenta
now plans to expand and strengthen its position in the publishing business by
foraying into customer newsstand publications.
Today, Spenta's range of
products and services includes custom/contract publishing, and printing, to be
followed by consumer newsstand titles.
Custom Publications
The Americans call it Custom Publishing. The British prefer the
term Contract Publishing. At Spenta, they believe it is all about Relationship
Publishing.
Internationally, custom or contract publishing is a specialized
outsourced activity, with publishers understanding the requirements of
corporates for fulfilling the information needs of carefully defined audiences.
This business is essentially all about building and strengthening
relationships. Which is why, at subject,
they prefer to use the phrase Relationship Publishing.
At Spenta, this
signifies more than just the relationship that each of the magazines it
publishes enjoys with its readers. It also represents the relationships that
Spenta has built with its clients over the years, understanding their unique
needs, which has led to Spenta growing into the position of
Spenta’s credo of working in accordance with various
client needs has also led to Spenta
offering a range of business models to suit an increasingly diverse and global
publishing, printing and corporate communications market. These business models
include:
a. Contract Publishing: A full service solution encompassing conceptualization,
editorial, design, printing, marketing, advertisement sales and distribution or
a model that constitutes elements of the above.
b. Newsstand Publications: As a co-publisher, licensee or a
design, content, printing, and advertisement sales resource or combinations
thereof.
c. Outsourcing: Spenta’s expertise and resources in the
contract/custom publishing space makes it an ideal international outsourcing
partner for content creation, editing, design and printing.
Promoter
Subject is a proprietary firm established in 1995 by
Maneck Davar. Maneck Davar has 28 years experience in print journalism and
publishing having written for and worked with major Indian newspapers and
magazines - The Times of
EDITORIAL
Vandana Berjis Desai
Simarpreet Kaur
Tyrel Rodricks
Ruchika Vyas
Abha Gupta
Anaita Vazifdar
DESIGN
Rishita Patel
Vishnu Kadam
Vaishali Kapadia
Yogita Vartak
Gargi Khobrekar
Debasish Mukherjee
Shailesh Salvi
Vilas Salve
Ghanshyam Dixit
Vikas Kinjawadekar
Vikas Padloskar
ADMINISTRATION
Bobby Daniel
Arjun Talekar
Jerbanoo Kolah
Sanjivani Shedge
ACCOUNTS
Sanjay Pawar
Farrokh Pariwalla
Uday Mogaveera
Seema Suvarna
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.97 |
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1 |
Rs.80.73 |
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Euro |
1 |
Rs.54.56 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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