MIRA
INFORM REPORT
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Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
INFOMEDIA INDIA LIMITED |
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Registered Office : |
"A" Wing, Ruby House, J K Sawant Marg, Dadar (West), Mumbai
- 400 028, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
30.05.1955 |
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Com. Reg. No.: |
11-9551 |
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CIN No.: [Company
Identification No.] |
L22219MH1955PLC009551 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI05300B |
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PAN No.: [Permanent
Account No.] |
AAACT0190R |
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Legal Form : |
A public limited liability company. Company’s shares are listed on the
Stock Exchange. |
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Line of Business : |
The principal activities are printing annual report, greeting cards,
calendars, diaries, continuous stationery and other products. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having fine quality. The company is
progressing well. 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. Fundamentals are
strong and healthy. The company can
be considered normal for business dealings at usual trade terms and conditions.
The company can
be regarded as a promising business partner in a medium to long-run. |
LOCATIONS
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Registered Office : |
"A" Wing, Ruby House, J K Sawant Marg, Dadar (West), Mumbai
- 400 028, Maharashtra, India |
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Tel. No.: |
91 - 22 - 2423 2323 / 66666665 |
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Fax No.: |
91 - 22 - 2430 2707 |
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E-Mail : |
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Website : |
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Branch Office : |
Unit 901, Sakr III, Near Income Tax
Office, Ashram Road, Ahmedabad - 380014 |
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Tel. No.: |
91 - 79 - 2754 4242 – 46 |
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Fax No.: |
91 - 79 - 2754 1427 |
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E-Mail : |
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Branch Office : |
12th Floor, 'C' wing, Mittal Tower No.6,
M. G. Road, Bangalore - 560 001 |
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Tel. No.: |
91 - 80 - 2559 7282/ 83/ 84 |
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Fax No.: |
91 - 80 - 2559 7285 |
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E-Mail : |
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Branch Office : |
209, Shahid Nagar, 1st Floor, Bhubaneshwar
- 751 007, Orissa |
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Mobile No. : |
91-92383 08616 / 98614 13533 |
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Branch Office : |
6th Floor, Kannamai Building, 611 Anna
Salai, Chennai - 600 006 |
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Tel. No.: |
91 - 44 - 2829 5050 |
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Fax No.: |
91 - 44 - 2829 5060 |
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E-Mail : |
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Branch Office : |
1079-A Mettupalayum Road, 2nd Floor,
Nagappa Complex, Coimbatore |
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Tel. No.: |
91 - 422 - 2557 730/ 60/ 40 |
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Fax No.: |
91 - 422 - 2557 750 |
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E-Mail : |
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Branch Office : |
206, 2nd Floor, Meridian Plaza, Ameerpet,
Hyderabad - 500 016 |
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Tel. No.: |
91 - 40 - 66136613 |
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E-Mail : |
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Branch Office : |
304, Shalimar Corporate Centre, South
Tukoganj, Off RNT Marg, Indore - 452 001 |
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Tel. No.: |
91 - 731 - 2526 090/ 91/ 92/ 93 |
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Fax No.: |
91 - 731 - 2526 095 |
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E-Mail : |
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Branch Office : |
37/A, Bhagat Vatika, Civil Lines, Jaipur |
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Tel. No.: |
91 141 5566673/74 |
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Fax No.: |
91- 9829609966 |
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E-Mail : |
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Branch Office : |
35/682, Amas Chambers, 2nd
Floor, Janatha Junction, Palarivattam, Kochi - 682 028 |
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Tel. No.: |
91 - 484 - 5054370/380/390 |
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E-Mail : |
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Branch Office : |
113 Park Street, "Poddar Point",
Block-B,5th Floor, Kolkata - 700 016 |
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Tel. No.: |
91 - 33 - 2246 8637/ 38, 2246 2965/ 66 |
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Fax No.: |
91 - 33 - 2246 2964 |
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E-Mail : |
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Branch Office : |
F-F-12B, # 2553, Pearl Palace, Ghumar
Mandi, Ludhiana |
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Tel. No.: |
91 - 161 - 2403 929, 2404 012 |
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Fax No.: |
91 - 161 - 2412 521 |
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E-Mail : |
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Branch Office : |
401-409, Prakashdeep Building, 7 Tolstoy
Marg, Connaught Place, New Delhi - 110 001 |
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Tel. No.: |
91 - 11 - 6630 3278/ 79/ 80/83 |
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Fax No.: |
91 - 11 - 2332 7884 |
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E-Mail : |
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Branch Office : |
5th Floor, Tara Heights, South Wing,
Mumbai-Pune Road, Wakdewadi, Pune - 411 003 |
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Tel. No.: |
91 - 20 - 2582 0446 / 49 |
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Fax No.: |
91 - 20 - 2400 8287 |
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E-Mail : |
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Branch Office : |
52/B, Kunj Society, 1st Floor, Above Sony
Service Station, Alkapuri, Vadodara - 390 007 |
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Tel. No.: |
91 - 265 - 2356 012, 2345 002 |
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Fax No.: |
91 - 265 - 2356 013 |
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E-Mail : |
DIRECTORS
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Name : |
Ms. Renuka Ramnath |
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Designation : |
Chairperson |
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Name : |
Mr. Prakash Iyer |
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Designation : |
Managing Director |
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Name : |
Mr. P. M. Devaiah |
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Designation : |
Director |
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Name : |
Mr. M. J. Subbaiah |
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Designation : |
Director |
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Name : |
Mr. Sanjay Asher |
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Designation : |
Director |
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Name : |
Mr. James A. Casella |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Saghan Srivastava |
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Designation : |
Company Secretary |
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Name : |
Mr. Yug Samrat |
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Designation : |
Company Secretary |
SHAREHOLDING
PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Shareholding of Promoter and Promoter Group |
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Indian |
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Bodies Corporate |
12396999 |
63.35 % |
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Public Shareholding |
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Institutions |
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Mutual Funds / UTI |
1320 |
0.01 % |
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Financial Institutions / Banks |
5221 |
0.03 % |
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Insurance Companies |
250370 |
1.28 % |
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Foreign Institutional Investors |
1496635 |
7.65 % |
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Non-Institutions |
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Bodies Corporate |
279186 |
1.43 % |
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Individual shareholders holding nominal share capital upto Rs. 0.1
Millions |
3561836 |
18.20 % |
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Individual shareholders holding nominal share capital in excess of Rs.
0.1 Millions |
1576266 |
8.06 % |
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Any Other [Trusts] |
270 |
0.00 % |
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Total |
19568103 |
100.01 % |
BUSINESS DETAILS
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Line of Business : |
The principal activities are printing annual report, greeting cards,
calendars, diaries, continuous stationery and other products. |
GENERAL
INFORMATION
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No. of Employees : |
-- |
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Bankers : |
Ø Bank of Baroda Ø Central Bank of
India |
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Facilities : |
-- |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
A. F. Ferguson & Company Chartered Accountants |
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Subsidiary : |
Cepha Imaging Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3,00,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
2,28,84,300 |
Equity Shares |
Rs. 10/- each |
Rs. 228.843
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
228.843 |
228.843 |
114.400 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1284.685 |
1262.996 |
1014.700 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1513.528 |
1491.839 |
1129.100 |
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LOAN FUNDS |
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1] Secured Loans |
40.236 |
0.392 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
40.236 |
0.392 |
0.000 |
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DEFERRED TAX LIABILITIES |
48.600 |
60.745 |
0.000 |
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TOTAL |
1602.364 |
1552.976 |
1129.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
322.514 |
325.254 |
404.200 |
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Capital work-in-progress |
9.122 |
0.280 |
1.400 |
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INVESTMENT |
511.535 |
934.049 |
600.100 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
146.643
|
111.132 |
83.500 |
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Sundry Debtors |
285.195
|
204.160 |
140.100 |
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Cash & Bank Balances |
475.003
|
336.138 |
29.800 |
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Other Current Assets |
1.582
|
0.520 |
0.000 |
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Loans & Advances |
324.063
|
200.896 |
429.700 |
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Total
Current Assets |
1232.486
|
852.846 |
683.100 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
382.007
|
324.943 |
380.500 |
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Provisions |
91.286
|
234.510 |
179.200 |
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Total
Current Liabilities |
473.293
|
559.453 |
559.700 |
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Net Current Assets |
759.193
|
293.393 |
123.400 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1602.364 |
1552.976 |
1129.100 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
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Sales Turnover |
1248.450 |
1257.132 |
1259.000 |
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Other Income |
62.990 |
53.411 |
237.300 |
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Total Income |
1311.440 |
1310.543 |
1496.300 |
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Profit/(Loss) Before Tax |
94.886 |
727.423 |
269.500 |
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Provision for Taxation |
21.009 |
155.625 |
27.600 |
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Profit/(Loss) After Tax |
73.877 |
571.798 |
241.900 |
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Expenditures : |
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Raw
Materials |
250.700
|
271.200
|
284.200
|
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Excise
Duty |
0.000
|
0.000
|
00.000
|
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Power
& Fuel Cost |
48.500
|
39.800
|
35.100
|
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Other
Manufacturing Expenses |
89.800
|
106.000
|
116.400
|
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Employee
Cost |
280.900
|
240.500
|
200.900
|
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Selling
and Administration Expenses |
367.000
|
317.900
|
329.300
|
|
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Miscellaneous
Expenses |
137.900
|
78.800
|
76.200
|
|
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Interest
& Financial Charges |
1.200
|
0.900
|
1.200
|
|
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Depreciation
|
70.800
|
87.500
|
183.500
|
|
Total Expenditure |
1246.800 |
1142.600 |
1226.800 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2006 |
30.09.2006 |
31.12.2006 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales
Turnover |
229.700 |
480.800 |
291.600 |
|
Other
Income |
10.000 |
6.600 |
2.900 |
|
Total
Income |
239.700 |
487.400 |
294.500 |
|
Total
Expenditure |
229.100 |
412.500 |
271.900 |
|
Operating
Profit |
10.600 |
74.900 |
22.600 |
|
Interest |
00.700 |
12.100 |
14.900 |
|
Gross
Profit |
09.900 |
62.800 |
7.700 |
|
Depreciation |
17.800 |
18.000 |
18.000 |
|
Tax |
[1.400] |
21.100 |
[7.300] |
|
Reported
PAT |
[ 6.500] |
23.700 |
[3.000] |
Notes
200606
Quarter 1 –
Exceptional Items Includes Doubtful Debts and Advances written
off Rs (32.004) million Profit on sale of Prabhadevi facilities Rs 30.000
million Licence fees for Prabhadevi Facilities Rs (19.733) million EPS is Basic
& Diluted 1. The above results were approved by the Board of Directors at
their meeting held on July 31, 2006. 2. During the Quarter the Company granted
17500 stock options to employees at a price of Rs 180.50 per share (each option
equivalent to one share). 3. Licence fee pending third party vacation and
delivery of Prabhadevi facilities to the vendor. 4. The status of investor
complaints for the quarter ended June 30,2006 was as follows: Pending at the
beginning of the quarter 4 Received during the quarter 28 Disposed off during
the quarter 32 Unresolved at the end of the quarter Nil 5. The Statutory
Auditors have completed a limited review for the quarter ended June 30 2006. 6.
The auditors report in respect of the annual accounts had stated that of the
managerial remuneration Rs.4.884 Millions paid/provided during 2005-06 is
subject to the company ontaining the approval of central Government. 7. The
results of June quarter 2006 stated above take into account the impact of the
revised Accounting standard 15 (Employee Benefits) applicable from 1st April
2006. In terms of the Standard the difference between transitional liability
(such liability under revised standard) and that liability that has been
recognised at 31st March 2006 (under the then existing AS-15) shall be adjusted
against opening balance of revenue and surplus.
200609
Quarter 2 –
1. The above results were approved by the Board of Directors
at their meeting held on October 27, 2006. 2, The status of investor complaints
for the quarter ended September 30,2006 was as follows: Pending at the
beginning of the quarter - Nil Received during the quarter - 34 Disposed off
during the quarter - 33 Unresolved at the end of the quarter - 1 3. The
statutory auditors have completed a linnfed review of the unaudited result for
the quarter acrd half year ended September 361, 2006, The erstwhile auditoes
had done a limited review of the unaudited resuIts for the quarter ended June
30, 2006. 4. The Company has completed the Scheme of Arrangement for buy-back
of equity shares as approved by the Honable High Court of Bombay and the
proceeds amounting to Rs, 812.468 Millions have been) disbursed in September
2006. The Share capital consists. of 19568103 shares and accordingly the EPS
has been calculated on the weighted average, number of shares outstanding
during the period. 5. Previous year's figures have been regrouped /restated
wherever necessary.
200612
Quarter 3 –
Expenditure Includes (Increase)/Decrease in Stock in Trade
Rs (14.796)million Consumption of Raw Materials / Purchase for resale Rs 82.611
million Staff Cost Rs 72.662 million Postage & Courier Charges Rs 15.344
million Other Expenditure Rs 116.087 million Tax Includes Provision / (credit)
for Taxation Rs (9.500)million Fringe Benefit Tax Rs 2.151 million EPS is Basic
Status of Investor Complaints for the quarter ended December 31, 2006 Complaints
Pending at the beginning of the quarter 01 Complaints Received during the
quarter 01 Complaints disposed off during the quarter 01 Complaints unresolved
at the end of the quarter 01 1. The above results were approved by the Board of
Directors at their meeting held on January 25, 2007. 2. The statutory auditors
have completed a limited review of the unaudited standalone financial result
for the quarter and Nine months ended December 31, 2006. 3. The Company has
completed the Scheme of Arrangement for buy-back of equity shares as approved
by the Honable High Court of Bombay and the proceeds amounting to Rs 812.468
million have been disbursed in September 2006. The Share capital consists of
19568103 shares and accordingly the EPS has been calculated on the weighted
average number of shares outstanding during the period. 4. Previous year's
figures have been regrouped/restated wherever necessary.
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity
Ratio |
0.01 |
0.00 |
0.00 |
|
Long
Term Debt-Equity Ratio |
0.00 |
0.00 |
0.00 |
|
Current
Ratio |
1.75 |
1.30 |
1.43 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed
Assets |
1.10 |
1.14 |
1.23 |
|
Inventory |
9.69 |
12.91 |
15.01 |
|
Debtors |
5.10 |
7.30 |
9.85 |
|
Interest
Cover Ratio |
80.08 |
174.56 |
91.75 |
|
Operating
Profit Margin(%) |
13.37 |
19.46 |
23.32 |
|
Profit
Before Interest And Tax Margin(%) |
7.70 |
12.50 |
8.75 |
|
Cash
Profit Margin(%) |
11.59 |
16.73 |
23.71 |
|
Adjusted
Net Profit Margin(%) |
5.92 |
9.77 |
9.13 |
|
Return
On Capital Employed(%) |
6.31 |
11.99 |
10.14 |
|
Return
On Net Worth(%) |
4.92 |
9.37 |
10.59 |
STOCK PRICES
|
Face Value |
Rs.10.00/- |
|
High |
Rs.147.00/- |
|
Low |
Rs.144.30/- |
LOCAL AGENCY
FURTHER INFORMATION
History
Incorporated as a commercial printing press in 1862 by the
name of Tata Press, and later renamed Tata Donnelley, Tata Infomedia Limited
was taken over by the Tata Publicity Corporation and, in 1931, became a
division of Tata Sons. In a significant move, the company recently signed a MoU
with R R Donnelly & Sons, the world's largest printing company, to expand
its business in the Indian sub-continent.
A part of the Tata group and the largest commercial printer in India, the
company is a leader in every area of commercial printing. It prints several of
India's top-circulation magazines and is also one of the country's leading book
printers. It also has a range of personal stationery which includes greeting
cards, diaries, calendars marketed under the Touchstone brand. It is among the
few printing houses which offer clients a range of services ranging from design
to despatch. The company has an in-house print promotion agency known as Design
Shop (India).
Tata Infomedia entered the information service business in 1991 with the
publication of the business directory (popularly known as Yellow Pages) for
Bombay. Since then, it has built a leadership position in this field and has
broadened its canvas of operations to include other cities like Delhi,
Bangalore, Madras, Ahmedabad, Pune and Calcutta. It has also launched a
specialised directory for exporters. Its database services division provides
creative direct marketing solutions to its client in addition to its own
innovative mailer campaigns.
The company's special internet publication division growing with the launch of
AvMax, India's first Audio-Video magazine. During the year-2000, company also
launched the Better Photography Black Book, top class photograph by Indian
photographers & is also planning further title launches.
Yellow Line, the Company's call centre for yellow pages has now started in
Mumbai and Delhi with a soft launch in April 2001.
The company has changed its name from Tata Infomedia Limited to Infomedia India
Limited
Operating
Results and Performance
The overall revenue of the Company from business operations remained flat at Rs
1311 Millions. A more detailed analysis of the financial performance of the
company is given in the management discussion and analysis section.
Scheme of Arrangement u/s 391 of the Companies Act,
1956
With a view to return a portion of the shareholder's wealth back and in a
profitable way, the Board of the Company in its meeting on 11th January 2006,
has approved a scheme of buy back of equity shares of the Company u/s 391 of
the Companies Act, 1956. The scheme envisaged a 14% reduction in the equity
share capital of the Company at a premium of Rs 235/- per equity share. In
order to retain the shareholding pattern, the scheme was devised to ensure a
proportionate reduction in the equity capital. The scheme gave the option to
shareholders holding less than 50 shares to exercise their option of
surrendering all their equity shares. Subsequently the petition was filed with
the Honorable High Court in Mumbai on the 18th January 2006 and also with
BSE/NSE for seeking their clearances. Based on the directive of the Honorable
High Court, the Extraordinary General Meeting of the shareholders and the
creditors were held on the 22nd March 06. The scheme was approved in both these
meetings, besides the meeting of the shareholders of the Company. The
Chairman's report on these meetings was filed with the Honorable High Court and
the Court heard the petition on the 16th June 2006. You will be pleased to know
that the Court has approved the scheme of arrangement.
Shifting of Registered
Office
The Company had sold the property at 414, Veer Savarkar Marg, Prabhadevi,
Mumbai 400 025 in January 2005. The sale of the property was approved in the
Extraordinary General Meeting of the Company called in January 2005. The
registered office of the company has subsequently moved in September 2005 to a
new address at Ruby House, A Wing, J K Sawant Marg, Dadar (West) Mumbai 400
028. This office space is being taken on a 99 month lease by the company.
Subsidiary
and Associate Companies
The Company had acquired two legal entities in the publishing business process
outsourcing space in December 2005. One of them, M/s Cepha Imaging Private
Limited (Cepha) is based in Bangalore and provides services in print and beyond
print requirements for the publishers around the world. The services of Cepha
include typesetting, composition, pagination, copyediting, indexing, graphics,
design, XML, multimedia solutions and project management. Cepha is registered
with Software Technology Park of India under registration number EIG/Cepha
Imaging/ 13123 dated 27th March 2000 and enjoys income tax exemption till
2008-09.
The post acquisition revenue and profit before tax from Cepha for the period
ended 31st March 2006 were Rs 28.100 Millions and Rs. 9.600 Millions
respectively.
The other entity, M/s Keyword Group Limited (Keyword) is registered with the
Companies Office Registrar in Surrey, United Kingdom. The principal activity of
Keyword includes typesetting, artwork, prepress, editorial and production
services to publishers. The post acquisition revenue from Keyword for the
period ended 31st March 2006 was 342,145 pound sterling.
Joint Venture Company
The Company has signed a joint venture agreement with M/s Reed Business
Information (RBI) in October 2005. RBI is a part of the Reed Elsevier group and
is one of the largest publishers of b2b titles in the world. Their portfolio
includes more than 100 titles, besides 75 web sites and a range of services,
including web development, custom publishing, research, business lists,
databases, and industry events. The joint venture company is incorporated as
M/s Reed Infomedia India Private Limited with the Registrar of Companies in
India with an authorized share capital of Rs 100 Millions. Some of the titles
that the joint venture company will introduce in India will include Variety,
JCK, Logistic Management, Control Engineering, ICIS Chemical Business and
Flight International.
Foreign
Exchange Earnings/Outgo
The export earnings during the year amounted to Rs 14.122 Millions (previous
year Rs. 10.997 Millions). The total foreign exchange utilized, mainly for
import of raw materials and spare parts for machinery not available
indigenously, amounted to Rs. 95.536 Millions (previous year: Rs. 97.128
Millions).
Fixed
Assets
Ø
Goodwill
Ø
Land freehold
Ø
Land leasehold
Ø
Buildings
Ø
Ownership flats
Ø
Plant, machinery and equipment
Ø
Computer equipment, etc
Ø
Furniture, fixtures, electrical and office equipment
Ø
Vehicles
As Per
Website
Undoubtedly, one of India’s leading media companies,
Infomedia India has a strong market presence - their diverse business areas are
spread across Business Directories,
Magazine Publishing, Printing services, and Publishing Outsourcing. They are the
undisputed market leaders in Yellow Pages and Special Interest Publishing, and
are one of the most respected contract printers in the country. With offices
panning 22 Indian cities manned by an over 1,600-strong team, they
have a national footprint, supplemented by a rock-solid all-India network for
ad sales and distribution.
Infomedia India Limited is a publicly listed company and is
listed on Bombay Stock Exchange
as well as the National Stock Exchange.
Their promoters and chief shareholders are ICICI Venture, the
private equity arm of ICICI Bank, one of India's largest financial
institutions. Professional managers led by the Managing Director, Mr.
Prakash Iyer, run Infomedia. For the year 2005-06, they had a turnover
of Rs 1.357 billion and an EBITDA (before exceptional items) of Rs 195
million.
Consolidating as India’s leading player in the Publishing
BPO sector
Independent estimates peg the size of the rapidly growing
publishing vertical in the BPO space in India to be at approximately USD 250
million. Infomedia India Limited has successfully forayed into this segment and
is poised to play a unique role going forward. Their carefully drawn up
strategy involves consolidation and scale-up of their India operations,
building partnerships with key international publishers and taking advantage of
operational efficiencies and resultant economies of scale. This will enable
them to provide a clear cost advantage for their customers.
They entered this space in December 2005 through the
acquisition of Cepha Imaging in Bangalore and Keyword Group Limited in the UK.
In April 2006, Infomedia acquired International Typesetting and Composition
(ITC), operating through its two legal entities, a front-end called Software
Services, LC, a limited liability company based in Florida, USA and back-end
operations at American Devices India Private Limited, based out of Noida,
India. American Devices India Private Limited is one of the leading providers
of pre-press and publishing services catering primarily to the North American
market. Key customers include McGraw-Hill, Thomson Learning, Wolters Kluwer,
Pearson Education, Taylor and Francis, and the World Bank.
Together, these acquisitions provide Infomedia with an
excellent platform for growth. Being the market leader in India’s publishing
industry, Infomedia’s competencies blend effectively with the huge potential
offered by the Publishing Outsourcing segment.
Apart from customer interface in the 2 major markets in the
world, the UK and the US, these acquisitions have also provided the company a
clientele spanning several of the finest book publishers across the
world.
Strengthening their Publishing business
Infomedia's publishing activities are focused at two broad
categories - Special Interest Consumer Publishing and Business-to-business
(B2B) / Trade publishing. At the moment, Infomedia has stamped its authority,
publishing 20 titles spread across 8 Consumer magazines and 12 Trade
magazines.
Strategic partnerships
As part of their endeavour to incorporate international
standards as well as globally acclaimed brands into Indian publishing, they
have entered into a Joint Venture (JV) with Reed Business International (a part
of Reed-Elsevier), arguably the world’s largest B2B publishers. The JV will be
launching Indian editions of Reed titles.
Their partnership with Ringier continues to grow with a
steady flow of advertising from Chinese publications. The alliance with Ringier
also covers conferences.
Their partnership with Future Publishing Limited saw the
launch of T3 in India, while
they launched Disney Adventures
in collaboration with Walt Disney India Private Limited. They also tied up with
Wisden, UK to launch the print edition of Cricinfo catering to cricket enthusiasts in India. Chip is published under a license from
Vogel Burda, Germany, part of the Vogel Group, one of Germany's largest
publishers. Cricinfo is being published
under a licensing arrangement with the UK-based Wisden Group, the World's
leading cricket publisher and the company behind cricinfo.com, the World's
largest single-sports site.
They have also tied up with Google, Nokia and STAR India
with a view to transcending media platforms and strengthening their position as
a comprehensive directories and publishing solutions provider.
It’s a clear indicator - Infomedia India continues to
retain its premier standing in the market - whether it is Business Directories, Magazine Publishing, Printing services or Publishing Outsourcing.
Mr.
Vijay Kumar joins Infomedia board
The Board of Directors of Infomedia India Limited, at their
meeting held on 25th January 2007 has appointed Mr. Vijay Kumar as Additional
Director of the Company.
Having extensively worked in the banking and information technology sectors in
a career spanning over 30 years, Mr Vijay Kumar brings in-depth experience in
the areas of corporate strategy, finance, mergers and acquisitions. He has been
involved in various specialized areas such as set up of strategic alliances,
joint ventures and subsidiaries as well as in the areas of project financing
and investment banking.
Currently Mr. Vijay Kumar is working with the NIIT Group, designated as Group
Executive Vice President and his areas of responsibility include strategic
corporate finance and new initiatives.
Mr. Vijay Kumar is an MBA from FMS, University of Delhi and B.Tech from I.I.T,
Delhi.
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.43.66 |
|
UK Pound |
1 |
Rs.85.91 |
|
Euro |
1 |
Rs.58.44 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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 |
|