MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BUSINESS INDIA EXHIBITIONS – DIVISION OF BUSINESS INDIA PUBLICATIONS
LIMITED |
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Registered Office : |
Wadia Building, 17/19, Dalal Street, Fort, Mumbai- 400001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.05.1988 |
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Com. Reg. No.: |
11-47259 |
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CIN No.: [Company
Identification No.] |
U22100MH1988PLC047259 |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of Printing and Publication of
Magazines. |
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 3250000 |
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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 company having satisfactory
track. Directors are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Wadia Building, 17/19, Dalal Street, Fort, Mumbai- 400001,
Maharashtra, India |
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Tel. No.: |
91-22-22676855 |
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Fax No.: |
91-22-22673074 |
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E-Mail : |
ashok.advani@businessindiagroup.com hiroo.advani@advaniandco.com |
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Website : |
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Head Office : |
Ms.
Mohini Kewalramani |
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Tel. No.: |
91-22-2882536 /37 /38 /39 |
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Fax No.: |
91-22-2882540 |
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E-Mail : |
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Branches : |
Mr. Mahesh Thakur 268, Masjid Moth,
Near Uday Park, New Delhi - 110 049. Tel.:
91-11-26261048/ 26261049 Fax:
91-11-26254166 Email: biedel@biexh.com Mr. M. Natarajan Prasad Chambers,
A-7, 1st Floor, 97-A, Peters Road, Chennai - 600 086 Tel.:
91-44-28274964/ 28227713/14/15 Fax:
91-44-28227715/ 28283016 Email: bieche@biexh.com Mr. P. L. Baluja Krishna Villa,
100 Park Street, Kolkata 700 017 Tel.:
91-33-22478455 Fax:
91-33-22478455 Email: bieccu@biexh.com Mrs. Kavita Anis 68/1, 1st
Floor, 2nd Cross, Lavelle Road, Bangalore - 560 001 Tel.:
91-80-2296618/ 2279826 Telefax:
91-80-2279826 Email: bieblr@biexh.com Mrs. Asha
Kottampalli 6-3-248/H/6, 2nd
Floor, Prashanti Mansion, Road No. 1, Banjara Hills, Hyderabad - 500 034 Tel.: 91-40-3311631/
3311624 Fax:
91-40-3390233 Email: biehyd@biexh.com Mr. Chackochan Manakkal House,
27/3773, Alappat Cross Road (South End), Perumanoor, Kochi - 682 015 Tel.: 98460-91797 Fax:
91-484-382343 Email: biecok@biexh.com Mr. Anup Sachdeva Comffits
Marketing SCO-12-13 Sector
9D, Madhya Marg, Chandigarh - 160 009 Tel.:
91-172-2745627/ 2744012 Telefax:
91-172-2742753 Email: biechd@biexh.com Mr. Lovely Arora Comffits
Marketing, 33, Phiroze
Gandhi Market, Ludhiana, Punjab Tel.:
91-161-2410640/ 2402042 Email: biechd@biexh.com Ms. Nilam Karnik F-484,
Gandhinagar, Jaipur - 302 015. Tel.: 91-141-2703797/
2380312 Email: biejai@biexh.com Mr. Kunal Bhatia Shruti Textiles,
412, Indore Trade Center, 3/2, Sardar Patel Road, Indore 452001 Email: bieidr@biexh.com Mr. Simon Gomes/
Mr. Anand Pereira Luis &
Company, Designer Hardware, Near G.P.O.,
Panjim, Goa 403 001. Tel.:
91-832-2422541/ 2232100 Fax:
91-832-2235410 Email: biegoa@biexh.com |
PARTNERS
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Name : |
Mr. Ashok H. Advani |
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Designation : |
Director |
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Address : |
21, Framroze Court, Marine Drive, Mumbai – 400020, Maharashtra, India |
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Date of Birth/Age : |
14.09.1945 |
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Date of Appointment : |
04.05.1988 |
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Name : |
Mr. Hiroo H. Advani |
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Designation : |
Director |
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Address : |
Chelaram House, 5th Floor, Carmichael Road, Mumbai –
400026, Maharashtra, India |
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Date of Birth/Age : |
25.03.1947 |
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Date of Appointment : |
04.05.1988 |
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Name : |
Mr. Pheroza J. Bilimoria |
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Designation : |
Managing Director |
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Address : |
5, Battery House, 74, Bhulabhai Desai Road, Mumbai – 400026 |
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Date of Birth/Age : |
17.04.1951 |
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Date of Appointment : |
10.01.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Promoters |
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14800002 |
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Companies / Body Corporate |
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4563850 |
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Individuals |
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2525355 |
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Scheduled Commercial Banks |
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200000 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of Printing and Publication of
Magazines. |
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Products : |
Item Code No. : 4801 Product Description : Printing & Publication of Magazines |
PRODUCTION STATUS
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Particulars |
Unit |
Actual
Production |
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Magazines : |
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Business India |
Qty. |
2325000 |
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Inside Outside |
Qty. |
598000 |
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Auto India |
Qty. |
268000 |
GENERAL
INFORMATION
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Bankers : |
ICICI Bank Limited Housing Development Finance Corporation Limited Oriental Bank of Commerce Bank of Punjab |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vasant D. Narkar Chartered Accountant |
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Address : |
216, T. V. Industries Estate, Off Annie Besant Road, Worli, Mumbai –
400025, Maharashtra, India |
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PAN No.: |
AAAPN4054B |
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Subsidiaries : |
Business India.Com Limited CIN No. : L72900MH2000PLC124677 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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18000000 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25520500 |
Equity Shares |
Rs. 10/- each |
Rs. 255.205
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
255.205 |
161.454 |
153.524 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
584.192 |
134.797 |
87.893 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
839.397 |
296.251 |
241.417 |
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LOAN FUNDS |
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1] Secured Loans |
796.749 |
778.490 |
755.332 |
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2] Unsecured Loans |
123.310 |
144.595 |
60.410 |
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TOTAL BORROWING |
920.059 |
923.085 |
815.742 |
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DEFERRED TAX LIABILITIES |
0.108 |
0.000 |
0.000 |
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TOTAL |
1759.564 |
1219.336 |
1057.159 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.460 |
311.799 |
282.940 |
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Capital work-in-progress |
308.462 |
0.000 |
0.000 |
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INVESTMENT |
8.550 |
0.750 |
0.750 |
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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 |
17.472
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8.187 |
8.267 |
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Sundry Debtors |
84.622
|
72.543 |
80.172 |
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Cash & Bank Balances |
27.760
|
4.637 |
2.026 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1609.575
|
1139.509 |
982.335 |
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Total
Current Assets |
1739.429
|
1224.876 |
1072.800 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
222.971
|
190.299 |
213.689 |
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Provisions |
78.419
|
127.896 |
85.896 |
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Total
Current Liabilities |
301.390
|
318.195 |
299.585 |
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Net Current Assets |
1438.039
|
906.681 |
773.215 |
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MISCELLANEOUS EXPENSES |
0.053 |
0.106 |
0.254 |
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TOTAL |
1759.564 |
1219.336 |
1057.159 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
37.266 |
362.747 |
325.310 |
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Other Income |
380.413 |
2.737 |
2.620 |
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Total Income |
417.679 |
365.484 |
327.930 |
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Profit/(Loss) Before Tax |
41.932 |
41.796 |
7.253 |
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Provision for Taxation |
17.102 |
5.503 |
0.466 |
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Profit/(Loss) After Tax |
24.830 |
36.293 |
6.787 |
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Earnings in Foreign Currency : |
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Export Earnings |
N.A. |
0.000 |
0.000 |
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Commission Earnings |
N.A. |
0.000 |
0.000 |
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Other Earnings |
N.A. |
5.357 |
2.572 |
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Total Earnings |
N.A. |
5.357 |
2.572 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
0.190 |
0.186 |
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Administrative Expenses |
0.000 |
41.787 |
52.193 |
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Consumption of Paper |
0.000 |
42.210 |
55.775 |
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Cost of Printing of Magazines |
0.000 |
22.004 |
26.662 |
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Preprinting Expenses |
0.000 |
8.526 |
4.616 |
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Personnel Cost |
0.000 |
29.781 |
31.545 |
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Exhibition Expenses |
0.000 |
41.787 |
52.193 |
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Cost of Books Sold |
0.000 |
127.965 |
95.582 |
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CD – Rom Expenses |
0.000 |
0.000 |
0.001 |
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Raw Material Consumed |
54.678 |
0.000 |
0.000 |
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Salaries, Wages, Bonus, etc. |
45.553 |
0.000 |
0.000 |
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Managerial Remuneration |
1.057 |
0.000 |
0.000 |
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Payment to Auditors |
0.430 |
0.000 |
0.000 |
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Interest |
38.477 |
0.000 |
0.000 |
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Insurance Expenses |
0.230 |
0.000 |
0.000 |
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Depreciation & Amortization |
0.696 |
0.000 |
0.000 |
|
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Other Expenditure |
234.623 |
0.000 |
0.000 |
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Total Expenditure |
375.744 |
314.250 |
318.753 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
5.94
|
9.93 |
2.06 |
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Net Profit Margin (PBT/Sales) |
(%) |
10.03
|
11.43 |
2.21 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.40
|
2.71 |
0.53 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.14 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.45
|
4.18 |
4.61 |
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Current Ratio (Current Asset/Current Liability) |
|
5.77
|
3.84 |
3.58 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets :
Furniture & Fixtures, Office Equipments and Computers
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Name of the company |
BUSINESS INDIA
PUBLICATIONS PRIVATE LIMITED |
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Presented By |
BUSINESS INDIA
PUBLICATIONS PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Deed of hypothecation dated the 3rd day of December, 1997
executed by the Business India Publications Private Limited [therein and hereinafter
referred to as ‘the company’] jointly in favour of the Industrial Credit and
Investment Corporation of India Limited and Housing Development Finance
Corporation Limited and [therein and hereinafter collectively referred to as
‘the lenders’] a copy of which is enclosed |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rupee Term Loan of Rs. 175.000 millions |
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3) Short particular of the property charged. If the property acquired
is subject to charge, date of the acquired of the property should be given |
The whole of the moveable properties of the company situate at Wadia
Building, 17/19 Dalal Street, Mumbai – 400001 and at two commercial
properties measuring 56850 sq. ft. at Masjid both near Uday Park in New Delhi
or wherever else the same may be including the company’s moveable plant and
machinery, machinery spares, tools and accessories and other moveable both
present and future [therein and hereinafter referred to as the said goods]
all receivables subject to the charges created / to be created in favour of
Central Bank of India and Jai Hind Bank for its working capital facilities
for an amount not exceeding Rs. 100 millions short particulars whereof are
given in the Annexure |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
In consideration
the lenders having agreed to and advance to the company the loan, agreement
and declaration by the company inter alias follows 1. Covenant by
the company to repay the loan and pay interest and all other monies to the
lenders in the manner set out in the loan agreement between the company and
the lenders and to comply with the terms and conditions of the said loan
agreement 2. The said
goods were thereby hypothecated inter alia, to the lenders as and by way of
first charge as security for and be charged with the repayment of the loan
with all interest, commitment charge, liquidated damages, premia on
prepayment or on redemption, costs, charges and other expenses payable by the
company to the lenders in respect there of provided that the charge of the
lenders on the said goods will be subject to the charge or charges created
and / or to be created by the company in favour of its bankers on its stocks
of raw materials, semi finished and finished goods, consumable stores and
such other moveable as may be agreed to by the lenders for an amount not
exceeding rs. 100 millions to secure borrowings in the ordinary course of
business of the company for its working capital requirements 3. The company
to keep the said goods in marketable and good condition and also insured as
provided therein 4. Power of
entry, power to take charge and / or possession of, seize, recover, receive,
appoint receivers of an remove and / or sale by public auction or private
contract, dispatch for realization or otherwise dispose of or deal with all
or any part of the said goods; etc. as provided therein |
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5) Name and Address and description of the person entitled to the
charge. |
The Industrial
Credit and Investment Corporation of India Limited 163, Backbay
Reclamation, Bombay -400026 |
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6) Date and brief description
of instrument modifying the charge |
Nil |
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
Nil |
WEBSITE DETAILS
A highly successful division of The Business India Group, Business India
Exhibitions, organises trade shows and exhibitions in different parts of India
for a diverse range of industries. Established in 1988, it is recognised as
India's #1 business-to-business event management company.
Business India Exhibitions produces a variety of events every year,
covering office automation, financial products, interior décor, building
materials, furniture, furnishings, computer education and information
technology. An estimated half a million people visited the trade shows and
exhibitions organised by Business India Exhibitions last year. The Division
plans to double its turnover each year over the next few years, as it
introduces new titles, and takes some of its existing brands to new cities.
Business India Exhibition's multi-city annual exhibitions on interior
design, furniture, furnishings and building material products, the "Inside
Outside Mega Show" are among the most successful shows in the country. The
"Living In Style", "Computer Quest", "BIE Networks"
and "BIE Multimedia Showcase" titles of the Division are also
well-established brands in the exhibitions business.
Inside Outside
Mega Show
INSIDE OUTSIDE MEGA SHOW is a joint production by Inside Outside- the Indian
Design Magazine, and Business India Exhibitions, the premier exhibitions
company of India. The largest event of the interior design, building and
construction industries in India, it is the only Indian Industry Trade Show
that has regularly expanded its Exhibition centers since its inception in 1988.
Currently it is scheduled to be held in 15 cities.
Grown from 25 booth units in 1988 to more than 800 booth units at
present, because of its high profile, exhibitors have used it extensively as
their launch pad for their new products: visitors have looked at it as the only
genuine information source for new products in the industry.
The aim of Inside Outside, the magazine, has been to spread awareness of
good design, believing that this awareness adds to the essential harmony of
life and promotes a balance in the elements. Inside Outside Designer Of The
Year showcases the work of Indian architects, and is a further effort by the
magazine to encourage the spread of this awareness, as also to inform and educate
the reading public. A booth dedicated to the award winners of Inside Outside
Designer of the Year draws a lot of attention at INSIDE OUTSIDE MEGA SHOW.
INSIDE OUTSIDE MEGA SHOW is the integration of three of the industry's
leading shows :
Intex, an interiors show, which brings in the country's leading
architects, designers and decorators.
Buildmat an annual event for construction and building professionals, attended
by industry professionals, as well as government officials such as town
planners, and representatives of municipal bodies. Furniture and Furnishing
caters especially to interior designers, furniture dealers, exporters and of
course homemakers.
The integration of the three companies and the subsequent expansion of its
reach led to the famous brand name -
INSIDE OUTSIDE MEGA SHOW!
With the sheer variety of products displayed, from bathroom fittings to
floor furnishings to laminates, veneers, wood coatings, furniture accessories,
designer bed linen and much more, it is not only a business visitors delight,
but also a compass charting future trends in interior and exterior design
business.
BIE Networks
BIE Networks India's premier networking show was necessitated by the
coming together of computers and telecommunication: almost ¾ of the computers
sold are used on networks. The first half of the 1990s saw the Indian
networking industry grow by a whopping 175%, 1 in 5 PCs sold in India is hooked
to a network. Almost every major Indian corporation has set up its own
nationwide computer network.
So Business India Exhibitions put together India's most talked about
networking event. The show was divided into three broad areas. Exhibition: The
perfect arena for interactive demonstrations and buyer-seller meets. Tutorials:
Lectures & demonstrations by industry experts on various aspects of
networking and interoperability. Networks Showcase: Featuring existing
networking solutions in India and abroad across a broad spectrum of
applications.
A Networking Conference
A forum where people who are shaping the world of networks will speak to
an eager audience of specialists and end-users, covering a host of vital
issues.
IT WORLD- COMDEX
INDIA
IT WORLD- COMDEX INDIA the first major Event on Information Technology
in 1992 made the name of Business India Exhibitions famous for showcasing what
was yet a fledgling industry. It's all encompassing nature made it the only
"umbrella" event-embracing every segment of the IT industry.
An annual landmark event with the longest running history since its debut in 1992,
it is perhaps the most well known IT event in Asia. The exhibition has
undergone several changes in not only the structure but also the name -
changing from IT ASIA to what it is now called IT WORLD - COMDEX INDIA.
COMDEX is the largest Exhibitions company in the U.S. showcasing the IT
industry and is BIE's partner in co-producing this event. As such, the
Exhibition has always had access to the leading edge technology of the USA, the
acknowledged leader in this fie, as also wide representation from the U.S.A as
well as Taiwan, Korea and Singapore.
The concurrent Technology Conference has the leading intellects of the
IT field as speakers-the Conference acts as a Technology compass highlighting
the future "hot" areas of IT.
It has always had the largest number of exhibitors and attendees - the
largest event occupied a gross area of 20,000 sq meters with a contracted
Exhibitor area of almost 9000 sq meters with over 250 exhibitors. The venue for
the past few years has been Pragati Maidan, Delhi and the exhibition is known
as one of the very few Indian exhibitions of world class standard.
Computer Quest :
India's only national exhibition on Computer Training and related areas,
Computer Quest established itself as the exhibition that brings various
computer training institutes face to face with students, executives and all
those interested in knowing more about computers and its applications. It gave
the opportunity to all the visitors to interact with the various computer
training institutes and get instant feedback about their training programs and
products.
CQ became a national event in its very second year of operations, when a
need was felt for an organized effort to bring the computer training institutes
in the city together. The convenience of computer institutes talking about
their curricula and their training programs was irresistible to prospective
students looking for promising careers.
Multimedia :
1995: The time and the year when the advent of computerization in India
was causing excitement, hope, anticipation, dreams of untold wealth in the
heart of the common man. A euphoric feeling was in the air. Combined with the
mystery of a new and as yet unknown technology that would help India to
leapfrog into the 21st century, providing unlimited work opportunities to the
youth of India, it was a time of being on the edge. Anything and everything was
possible.
Enter Business India Exhibitions. This feeling, this hope, this
anticipation, this need to explain what exactly multimedia was and what it
could, and would, accomplish was harnessed and presented as the raisin d'etre
for The Multimedia Showcase. This was the exhibition that demonstrated a
computer based method of presenting information by using more than one medium
of communication such as text, graphics and sound, emphasizing interactivity.
The Exhibitor Profile: Manufacturers, developers, and marketers pf
hardware and software, OEMs, VARs, multimedia integrators and titleholders in
the areas of information technology, and publishing.
The Visitor Profile: Industry professionals eager to interact with
multimedia marketers and dealers, corporate users, key decision makers and
influencers, also users in the home entertainment and education sections.
Living in Style
Conceived as a B2C Show, the Exhibitor profile includes anything and
everything that makes for a comfortable and stylish home and business
environment. In its own way this is also an "umbrella" show. In its
current format, Living In Style capitalises on the influx of MNCs and the
sudden proliferation of consumer products, and brings you the whole gamut under
one roof in one location, giving the end user the benefit of a truly
comprehensive perspective.
Office Show
Today's office environment must offer not only state-of-the-art
technology but the right atmosphere and ambience for productive work that will
be competitive in a global context. The everyday jargon of office workers?
Ambition, opportunities galore, long work hours, business efficiency, climbing
the corporate ladder - as organizers, we feel an obligation to make this
corporate climb as effortless and comfortable as possible.
Office equipment is indeed a fast moving segment of the market economy, and
the Business India Office Show provides an ideal platform. Business India
Office Show is for the exhibitor to display the latest in office systems and
décor. If it is in an office, it belongs on the show floor. This show covers
everything - laptops, computers, accessories, peripherals, refrigerators, water
coolers, furniture. Even courier services! The place to look for
teleconferencing paraphernalia, product demonstrations and displays, even
humblest pin, this show will put your business on the map and take you places!
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
|
UK Pound |
1 |
Rs.85.54 |
|
Euro |
1 |
Rs.58.23 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|