MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
LIVING MEDIA
INDIA LIMITED |
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Registered
Office : |
K-9 Block,
Connaught Circus, New Delhi – 110 001 |
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Country: |
India |
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Financials (as
on): |
31.03.2006 |
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Date of
Incorporation : |
09.05.1962 |
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Com. Reg. No.: |
55-3714 |
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CIN No.: [Company Identification No.] |
U92132DL1962PLC003714 |
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TAN No.: [Tax Deduction & Collection Account No.] |
DELL02162G |
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PAN No.: [Permanent Account No.] |
AAACL0087H |
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Legal Form : |
A Closely Held
Public Limited Liability Company. |
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Line of
Business : |
Publishers of
Magazines & Books Like “India Today’, ‘Business Today’, ‘Target’, ‘Computers
Today’ and Journal of Applied Medicines etc |
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 3800 |
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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 part
of well known India Today Group having strong presence in media. Financial
position is good. Payments are usually correct & as per commitments. The company is
doing very well. It can be
considered good for any normal business dealings. It can be regarded as a
strong business partner on a medium to long – run |
LOCATIONS
|
Registered
Office : |
K-9 Block,
Connaught Circus, New Delhi – 110 001, INDIA |
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Tel. No.: |
91-11-2332 1273 /
332 1323 |
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Fax No.: |
91-11-2371 3405/
23712998 |
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Telex No.: |
031-62634 |
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Warehouse : |
W 18 & 19,
Sector 11, Noida, Dist. Ghaziabad, Uttar Pradesh, India |
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Factory 1 : |
q
P. O. Box
706, Faridabad – 121 007, Haryana, India Tel. No. 91-129-2285520 (5 Lines) Fax No. 91-129-2284511 Telex . 031-75414 q
B-315, Okhla
Industrial Area, Phase-I, New Delhi – 110 020, India Tel. No. 91-11-2681 8915 /2681 8920
/2681 2998 / 2688675 Fax No.91-11-2681 8670 Telex. 031-75414 |
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Branches : |
q
28-A & B,
Jolly Maker Chamber – 11, Nariman Point, Mumbai – 400 021, Maharashtra, India Tel. No. 91-22-2202 6152 Fax No. 91-22-2202 6164 Telex . 011-85373 THOM IN q
IInd Floor,
98-A, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004, Tamil Nadu, India q
12C Everest,
46-C, Chowringghee Road, Kolkata –
700 071, West Bengal, India q
201/204,
Richmond Towers, 12 Rich Mond Road, Bangalore – 560 025, Karnataka, India q
Somajiguda,
Hyderabad – 500 482, Andhra Pradesh, India Tel. No. 91-842-2211649 / 2211657 Telex 0845-2217 INTO IN q
B-315, Okhla
Phase – 1, New Delhi – 110 020, India Tel. No. 91-11-2681 8915 /2681
8920 / 2681 2998 / 2681 8675 Fax No. 91-11-2681 8670 Telex 31-75414 |
DIRECTORS
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Name : |
Mr. Mehra Anil |
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Designation : |
Managing Director |
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Address : |
B-223, Greater Kailash Part – I, New Delhi – 110 048, India |
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Date of Birth/Age : |
05.09.1944 |
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Other Directorships |
·
The All India Film Corporation Private Limited, India ·
Intergrated Database India Limited, India |
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Date of Appointment: |
08.04.1986 |
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Name : |
Mrs. Malhotra Neera |
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Designation : |
Director |
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Address: |
M-11, Greater Kailash Part – I, New Delhi – 110 048, India |
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Date of Birth/Age : |
15.06.1955 |
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Date of Appointment: |
27.10.1984 |
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Name : |
Mr. Ahluwalia Karan |
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Designation : |
Director |
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Address: |
S-366, Panchsheela Park, New Delhi – 110 017, India. |
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Date of Birth/Age : |
20.10.1950 |
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Date of Appointment: |
13.06.2001 |
KEY EXECUTIVES
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Name : |
Mr. A. K. Nair |
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Designation : |
General Manager –
Finance |
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Date of
Birth/Age : |
61 years |
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Qualification
: |
B.Sc. (Eco.)
Hons., C.A. (England & Wales) |
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Experience : |
33 years |
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Previous
Employment |
Jagajit
Industries Limited, India |
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Name : |
Mr. C. V.
Vidyalingam |
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Designation : |
General
Manager-Sales |
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Date of
Birth/Age : |
49 years |
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Qualification
: |
B.Sc. |
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Experience : |
28 years |
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Previous
Employment |
Eve’s Weekly
Limited, India |
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Name : |
Mr. Aroon Purie |
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Designation : |
Chief Editor |
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Date of
Birth/Age : |
53 years |
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Qualification
: |
B.Sc. (Eco.)
University of London, F.C.A. (England & Wales) A.C.S. Associate Member of
ICSI |
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Experience : |
29 years |
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Previous
Employment |
Thomson Press India
Limited, India |
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Name : |
Mr. Dilip Bobb |
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Designation : |
Executive Editor |
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Date of
Birth/Age : |
51 years |
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Qualification
: |
B.A. (History) |
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Experience : |
28 years |
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Previous
Employment |
Duncan Brothers
Limited, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr. Aroon Purie |
9,188 |
4.19 |
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Mrs. Rekha Purie |
3,062 |
1.39 |
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Mr. Fawcett Purie
Mandira |
6,125 |
2.80 |
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Ms. Madhu Trehan |
6,125 |
2.80 |
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The All India
Investment Corporation Limited |
29,225 |
13.34 |
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Mast. Purie
Ankoor |
6,125 |
2.80 |
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World Media
Limited |
158,150 |
72.21 |
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Mr. Aroon Purie
(HUF) |
1,000 |
0.45 |
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Total: |
219000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Publishers of Magazines & Books Like “India Today’, ‘Business
Today’, ‘Target’, ‘Computers Today’ and Journal of Applied Medicines etc |
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Products : |
·
Video News Magazines- ‘Newstrack’, ·
Recorded Music Cassettes Etc
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Brand Names : |
India Today, Business Today, Target, Computers Today, Journal of
Applied Medicines. |
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Exports to : |
UK, USA, Middle East and South East Asia |
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Imports from : |
UK, USA and Germany |
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Terms : |
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Selling : |
Cash, L/C and Credit upto 30 days terms |
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Purchasing : |
Cash, Contract and Credit upto 30 to 60 days terms. |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
Actual Production |
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Periodicals – Own |
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NA |
58,226,426 Nos. |
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Video, Audio
Cassettes & CDs |
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NA |
434,657 Nos. |
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Books (Including
Diaries, Address Book) |
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NA |
57,210 Nos. |
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Print Sale |
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451,580,000 Std. Imp. |
99,760,000 Std. Imp. |
GENERAL
INFORMATION
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Suppliers : |
Thomson Press
(India) Limited, Faridabad, Haryana State, India |
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Customers : |
Wholesalers, Manufacturers
and Retailers. |
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No. of
Employees : |
500 |
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Bankers : |
Canara Bank,
Connaught Place, New Delhi – 110 001, India |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors : |
Price warehouse Chartered
Accountant |
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Address: |
P-1, Adithya
Vihar, Saldulajab, Opposite D-Block, Saket Mehrauli Badarpur Raod, New Delhi
– 110 030, India. |
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Tel. No.: |
91-11-41250000 |
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Fax No.: |
91-11-41250250 |
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Associates: |
·
All India
Finance & Commerce Private Limited, India ·
All India
Investment Corporation Limited, India ·
Nodia
Security Printers Private Limited ·
Active Media
Technologies Private Limited ·
Thomson Press
India Limited - (62.22%) ·
Integrated
Databases India Limited ·
The All
India Film Corporation Private Limited
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Subsidiaries : |
·
Living Media
International Limited ·
Radio Today
Broadcasting (Delhi) Limited ·
Radio Today Broadcasting
(Mumbai) Limited ·
Radio Today
Broadcasting (Kolkata) Limited ·
TV Today
Network Limited ·
Harper
Collins Publishers India Limited ·
World Media
International Limited ·
Universal
Learn Today Limited ·
India Today
Online Limited ·
Radio Today
Broadcasting Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
230,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.300 Millions |
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20,000 |
Redeemable
Preference Shares |
Rs. 10/- each |
Rs. 0.200 Millions |
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Total
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Rs. 2.500 Millions |
Issued
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
219000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.190 Millions |
Subscribed
& Paid-up Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
225 |
Equity Shares |
Rs. 10/- each |
Rs. 0.002 Millions |
|
218775 |
Equity Shares
(Rs. 3 Called up) |
Rs. 10/- each |
Rs. 0.656 Millions |
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Total: |
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Rs. 0.658 Millions |
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 |
0.700 |
0.700 |
0.658 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
960.200 |
807.100 |
722.356 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
960.900 |
807.800 |
723.014 |
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LOAN FUNDS |
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1] Secured Loans |
198.300 |
258.600 |
134.429 |
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2] Unsecured Loans |
134.900 |
61.900 |
174.923 |
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TOTAL BORROWING |
333.200 |
320.500 |
309.352 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
1294.100 |
1128.300 |
1032.366 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
416.400 |
367.500 |
354.973 |
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Capital work-in-progress |
0.000 |
0.000 |
4.794 |
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INVESTMENT |
349.300 |
299.900 |
299.884 |
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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 |
330.200
|
198.600 |
148.099
|
|
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Sundry Debtors |
494.100
|
454.200 |
402.591
|
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Cash & Bank Balances |
480.900
|
109.100 |
112.546
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
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Loans & Advances |
693.400
|
950.800 |
498.888
|
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Total
Current Assets |
1998.600
|
1712.700 |
1712.700 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1123.900
|
976.200 |
748.532
|
|
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Provisions |
346.300
|
275.900 |
41.475
|
|
Total
Current Liabilities |
1470.200
|
1252.100 |
790.007 |
|
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Net Current Assets |
528.400
|
460.600 |
372.117 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.300 |
0.598 |
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TOTAL |
1294.100 |
1128.300 |
1032.366 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
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Sales Turnover |
2421.800 |
2095.800 |
1857.600 |
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Other Income |
264.700 |
120.400 |
233.900 |
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Total Income |
2686.500 |
2216.200 |
2091.500 |
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Profit/(Loss) Before Tax |
194.400 |
96.600 |
305.600 |
|
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Provision for Taxation |
40.600 |
11.100 |
41.500 |
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Profit/(Loss) After Tax |
153.800 |
85.500 |
264.100 |
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Expenditures : |
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Stock Adjustments |
4.800 |
[4.700] |
4.400 |
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Manufacturing Expenses |
560.200 |
481.600 |
451.100 |
|
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Miscellaneous Expenses |
230.500 |
214.500 |
174.100 |
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Raw Material Consumed |
531.800 |
422.700 |
379.000 |
|
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Selling and Distribution Expenses |
613.100 |
527.300 |
344.100 |
|
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Salaries, Wages, Bonus, etc. |
440.900 |
372.900 |
325.200 |
|
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Interest |
43.000 |
37.800 |
49.700 |
|
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Power & Fuel |
15.400 |
15.300 |
13.300 |
|
|
Depreciation & Amortization |
52.400 |
52.200 |
45.000 |
|
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Other Expenditure |
0.000 |
0.000 |
0.000 |
|
Total Expenditure |
2492.100 |
2119.600 |
1785.900 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt Equity Ratio |
0.37 |
0.40 |
0.68 |
|
Long Term Debt Equity Ratio |
0.37 |
0.40 |
0.68 |
|
Current Ratio |
1.36 |
1.36 |
1.47 |
|
TURNOVER RATIOS |
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|
Fixed Assets |
3.98 |
3.87 |
3.53 |
|
Inventory |
9.16 |
12.09 |
12.74 |
|
Debtors |
5.11 |
4.89 |
4.79 |
|
Interest Cover Ratio |
2.05 |
3.56 |
4.16 |
|
Operating Profit Margin (%) |
5.80 |
8.90 |
13.54 |
|
Profit Before Interest and Tax Margin (%) |
3.64 |
6.41 |
11.12 |
|
Cash Profit Margin (%) |
3.64 |
6.57 |
9.72 |
|
Adjusted Net Profit Margin (%) |
1.47 |
4.08 |
7.30 |
|
Return on Capital Employed (%) |
7.27 |
12.50 |
20.39 |
|
Return on Net Worth (%) |
4.04 |
11.17 |
22.42 |
LOCAL AGENCY
FURTHER INFORMATION
DONATIONS AND
CONTRIBUTIONS
The Company made donation of Rs.0.025 Million
to private trusts and bodies.
Fixed Assets:
Land – Free
hold, Building, Plant & Machinery, Furniture & Fixtures, Vehicles etc.
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Name of the company |
LIVING MEDIA
INDIA LIMITED |
|
Presented By |
Mr. Anil Mehra, Director |
|
1) Date and description of instrument creating the change |
Charge created on 26.04.1980 and registred 13.01.1981. Modified on various
dates lastly on 31.01.2002 and registered on 01.03.2002 for Rs. 105.000
Millions |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 0.500 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 |
Imported prints & paper of various sizes and length and such other
goods belonging to the company, and lying at the premises of their printers
Thomson Press (India) Limited, Faridabad. |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest @ 7.5%
pa.a. over RBI rate with a minimum of 16.5% p.a. on 26.04.1980 and
subsequently modified from time to time. |
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5) Name and Address and description of the person entitled to the
charge. |
Canara Bank, F-19, Connaught Circus, New Delhi |
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6) Date and brief description
of instrument modifying the charge |
Supplemental Agreement dated 13.01.2005. |
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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. |
OCC/ WCDL/ FCNR limit secured by pari passu first charge with The Hong
Kong & Shanghai Banking Corporation Limited, Standard Chartered Bank,
State Bank of Travancore, UCO Bank, ABN Amro Bank, N. V. and ICICI Bank
Limited, New Delhi by way of hypothecation of the company’s entore stock of
paper, Paper in process and Book Debts (Advertising and Sales) not exceeding 120 days both present &
future stands enhanced from Rs. 105.000 Millions to Rs. 115.000 Millions. Interest
over ongoing BPLR with a minimum of 10.65% p.a. with monthly rests or at such
other rates as may be agreed from time to time. Other terms and conditions
remaining unchanged. |
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Name of the company |
LIVING MEDIA INDIA LIMITED |
|
Presented By |
Mr. Anil Mehra, Director |
|
1) Date and description of instrument creating the change |
Agreement for hypothecation of Goods to secure a Demand Cash Credit
and Agreement for Hypothecation of Book Debts both dated 23.07.2001.
Registerd on 20.08.2001. |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 20.000 Millions |
|
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 |
Stocks of paper in transit and paper in process both existing and
future and all present & future book debts (Advertising Debtors not
exceeding 120 days only.) |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
First charge on
a pari passu basis with canara bank, Standard Chartered Bank, Sate Bank of
Travancore, The Hong Kong & Shanghai Banking Corporation Limited and the
Bank of Nova Scotia, New Delhi. |
|
5) Name and Address and description of the person entitled to the
charge. |
UCO Bank, Connaught Place, New Delhi – 110 001. |
|
6) Date and brief description
of instrument modifying the charge |
Agreement for Hypothecation of Goods to secure a Demand Cash Credit and
Agreement for Hypothecation of Book Debts both dated 21.03.2005. |
|
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. |
The fund based working capital limit has been increased from Rs.
20.000 Millions to Rs. 25.000 Millions secured by stocks of paper, Paper in
process and book debts (Advertising and Sales) not exceeding 120 days
(Present & Future) on a pari passu basis with canara bank, Standard
Chartered Bank, Sate Bank of Travancore, ABN Amro Bank N.V., The Hongkong
& Shanghai Banking Corporation Limited and ICICI Bank Limited, New Delhi.
|
|
Name of the company |
LIVING MEDIA INDIA LIMITED |
|
Presented By |
Mr. Anil Mehra, Director |
|
1) Date and description of instrument creating the change |
Agreement for Cahs Credit – Hypothecation of Goods and Agreement for
cash credit – Hypothecation of Debts both dated 17.08.1993, Registered on
28.04.1998 Subsequently modified on 10.11.2000, 16.11.2001 and 31.01.2002
registered on 25.02.202 and agreement for L/C and Bank guarantee Limit dated
17.08.1993 registered on 28.04.1998, modified on 31.01.2002 and registered on
25.02.2002. |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 30.000 Millions for fund based facility (Cash Credit /WCDL) and
Rs. 15.000 Millions for Non Fund based facility (L/C / Bank Guarantee). |
|
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 |
Stocks of paper in transit and paper in process both existing and
future and all present & future book debts (Advertising Debtors not
exceeding 120 days only.) |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
First charge on
a pari passu basis with canara bank, Standard Chartered Bank, Sate Bank of
Travancore, The Hong Kong & Shanghai Banking Corporation Limited and the
Bank of Nova Scotia, and UCO Bank, New Delhi for fund based facility (Cash
Credit/ WCDL) and first charge on pari passu basis with Canara Bank and UCO
Bank, New Delhi for Non-fund based facility (L/C and Bank Guarantee). |
|
5) Name and Address and description of the person entitled to the
charge. |
State Bank of Travancore 3, Bhikaji Cama Place, Ansal Chamber – 1, R. K. Puram, New Delhi – 110
066. |
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6) Date and brief description
of instrument modifying the charge |
Agreement for Hypothecation of Goods and Assets dated 26.07.2005 |
|
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. |
The fund based working capital limit has been increased from Rs.
42.500 Millions to Rs. 45.000 Millions secured by stocks of paper, Paper in
process and book debts (Advertising and Sales) not exceeding 120 days
(Present & Future) on a pari passu basis with canara bank, Standard
Chartered Bank, Sate Bank of Travancore, ABN Amro Bank N.V., The Hongkong
& Shanghai Banking Corporation Limited and ICICI Bank Limited, New Delhi
and renewal of Non fnd based facility (L/C and Bank Guarantee) of Rs. 15.000
Millions secured by stocks of paper, paper in process and book debts
(Advertising and Sales) not exceeding 120 days (Present & Future) on a
pari passu basis with canara bank and UCO Bank. |
|
Name of the company |
LIVING MEDIA INDIA LIMITED |
|
Presented By |
Mr. Anil Mehra, Director |
|
1) Date and description of instrument creating the change |
Agreement for hypothecation of Goods to secure a Demand Cash Credit
and Agreement for Hypothecation of Book Debts both dated 23.07.2001.
Registerd on 20.08.2001. |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 20.000 Millions |
|
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 |
Stocks of paper in process and book debts (Advertising and Sales not
exceeding 120 days (Present & Future). |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
First charge on
a pari passu basis with canara bank, Standard Chartered Bank, Sate Bank of
Travancore, The Hong Kong & Shanghai Banking Corporation Limited and UCO
Bank, New Delhi. |
|
5) Name and Address and description of the person entitled to the
charge. |
ABN Amro Bank N.V. Hansalya Building, 15 Barakhamba Road, New Delhi – 110 001 |
|
6) Date and brief description
of instrument modifying the charge |
Supplemental Facility cum Hypothecation Agreement dated 18.07.2005. |
|
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. |
The fund based working capital limit has been increased from Rs.
32.500 Millions to Rs. 35.000 Millions secured by stocks of paper, Paper in
process and book debts (Advertising and Sales) not exceeding 120 days
(Present & Future) on a pari passu basis with canara bank, Standard
Chartered Bank, Sate Bank of Travancore, ABN Amro Bank N.V., The Hongkong
& Shanghai Banking Corporation Limited and ICICI Bank Limited, New Delhi.
|
|
Name of the company |
LIVING MEDIA INDIA LIMITED |
|
Presented By |
Mr. Anil Mehra, Director |
|
1) Date and description of instrument creating the change |
Facility cum Hypothecation Agreement dated 15.03.2003 and registered
on 09.04.2003 |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 30.000 Millions |
|
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 |
Stocks of paper in transit and paper in process both existing and
future and all present & future book debts (Advertising Debtors not
exceeding 120 days only.) |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
First charge on
a pari passu basis with canara bank, Standard Chartered Bank, Sate Bank of
Travancore, The Hong Kong & Shanghai Banking Corporation Limited and the
Bank of Nova Scotia, New Delhi. |
|
5) Name and Address and description of the person entitled to the
charge. |
UCO Bank, Connaught Place, New Delhi – 110 001. |
|
6) Date and brief description
of instrument modifying the charge |
Agreement for Hypothecation of Goods to secure a Demand Cash Credit
and Agreement for Hypothecation of Book Debts both dated 21.03.2005. |
|
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. |
The fund based working capital limit has been increased from Rs.
20.000 Millions to Rs. 25.000 Millions secured by stocks of paper, Paper in
process and book debts (Advertising and Sales) not exceeding 120 days
(Present & Future) on a pari passu basis with canara bank, Standard
Chartered Bank, Sate Bank of Travancore, ABN Amro Bank N.V., The Hongkong
& Shanghai Banking Corporation Limited and ICICI Bank Limited, New Delhi.
|
Website Details
:
In December 1975,
Living Media India Ltd started a fortnightly English news-magazine, India
Today, with a print order of 5,000 copies. Today, with a total
readership of 15.9 million across all its editions, India Today is the most
widely read magazine in the country and has made Living Media India the largest
magazine publisher in the country. The group's success continues with a number
of trusted titles in English as well as several Indian languages. Over the last
few years, LMI's interests have come to include television programming, music,
art and education.
Publications
India
Today (English), with a circulation of 4,17,505
(July-Dec 1998, Audit Bureau of Circulation figures) is the highest read
publication (Readership 5.9 million, Indian Readership Survey 99) in India in
any language. The magazine focuses on politics and current affairs and has a
lively back-of-the-book section that reports on art, music, people, sport,
books, entertainment and social trends. An experienced and talented team of
editors, journalists, photographers and designers at India Today maintains the
highest standards of journalism in the country (frequency: weekly). India Today
has four language editions: Hindi (circulation figures 2,87,530); Tamil
(77,587), Telugu (68,743); Malayalam (80,711). India Today (combined) enjoys a
weekly circulation of 9,32,079 and readership of over 15.9 million.
India Today International, launched in April 1982, caters to the Indian
community abroad and incorporates special community sections. The North
America, UK and Gulf editions are circulated in 109 countries. The North
America Special Edition, launched in June 1992, covers USA and Canada.
According to a readership survey conducted by Blackstone Market Facts India Pvt
Ltd in 1998, 81 percent respondents in the US said the magazine was the best
source of news from India. Two out of five respondents have been reading it for
over a decade.
Business
Today, launched in January 1992, has captured 41 per cent
of India's business magazine market, making it the country's largest selling
magazine in its segment. It has a circulation of 1,27,378 (ABC figures,
Jan-June 98). The magazine focuses on issues related to management, strategic
thinking and analysis of business events (frequency: fortnightly).
Computers
Today, launched in
1985, is India's highest read Infotech magazine with a readership figure of
5,25,000 (as per NRS 97). In 1998 Computers Today was revamped with a new logo
and the frequency was changed to a fortnightly. The magazine covers the latest
in the infotech industry and focuses on the trends and future events. It equips
readers to stay in touch with the rapidly changing IT world.
Teens
Today, launched in 1996, is the only magazine of its kind in
India. The magazine, aimed at individualistic and demanding teenagers, keeps
them updated on the latest trends in music, fashion, movies, books, sports,
careers and everything that teens think about (frequency: monthly).
India
Today Plus, launched in 1996 as a leisure and lifestyle
magazine, is an authoritative guide to good living. The magazine has an
international canvas and concentrates on subjects like exotic holidays, wines,
cigars, luxury cruises, golf and tennis in addition to some of the best things
that life has to offer. This bi-monthly publication has a circulation of
89,000.
Cosmopolitan, launched in 1996, is published under licence from Hearst Corporation,
USA. The Indian edition has created a niche with the modern working woman in
metropolitan India. Published monthly, the magazine has a circulation of 78,000
(ABC figures, Jan-June 98). Frequency: monthly
Chartered Accountant, published by Living Media India on behalf of the Institute
of Chartered Accountants of India, is subscribed to by every qualified
chartered accountant in India. The magazine is available on the newsstand as
well (frequency: monthly).
TIME magazine,
the world's leading newsmagazine, has been marketed and distributed in India by
Living Media India since 1991. It has a circulation of 35,000 copies
(frequency: weekly).
Harvard Business Review, brought out by Harvard Business School Publishing, a
division of the world's premier business research and management training
institution. HBR is marketed and distributed by LMI for the entire India, Nepal
and Bhutan region.
Services
Syndications
Today is the arm of Living Media India Ltd that caters to the content demand of
the media, publishers, websites, ad agencies, international databases, authors
and researchers. It offers rights to clients to reproduce and redistribute
text, photographs and illustrations - content that is generated by the LMI
divisions.
Music
Music Today, launched in 1990, has played an
important role in reviving public interest in Indian classical music. The music
label has been meticulously recording the works of great Maestros of Hindustani
music; it has used innovative and strong editorial concepts to offer thematic
compilations; has ensured excellence in recording quality; and has encouraged
the finest contemporary talent in Indian music.
Music
Today's catalogue overflows with a shining galaxy of artistes who have found
appeal in markets as diverse as Europe, the Middle East, Australia and USA. In
1997 Music Today signed an agreement with Alam Madina Music Productions, the
music label of California-based sarod maestro Ustad Ali Akbar Khan. The result
was an album, Legacy, which was nominated for two Grammy Awards.
Music
Today also has a tie up with Warner which gives it an
exclusive licence to access and market thousands of titles on Warner labels as
well as its affiliates in 67 countries.
Humanitarian Assistance
Over the last 25 years,
India Today gradually realised simple reporting wasn’t enough. Whenever stories
of disasters were published, offers for help from readers came flooding in, but
there was never an opportunity to properly tap this wellspring of goodwill. On
August 1999, the India Today group set up Care Today, a registered society.
It’s mandate is simple: use financial contributions from readers of India Today
to directly help people who need help, report back on the progress through the
pages of the magazine, and now through its website. In less than a year, Care
Today has launched three projects: the "Lest we Forget Fund" to
rehabilitate 19 soldiers disabled in the Kargil conflict; the "Hope for
Orissa Fund" to resettle victims of the 1999 supercylone in Orissa; and
the "Fight the Drought Fund", to provide short and long-term help to
victims of the 2000 drought.
Television
TV Today Network
The India Today Group's foray into
the electronic medium was marked by the incorporation of TV Today Network
(TVTN) in 1988. The success story of TVTN started with the launch of the first
investigative video newsmagazine titled Newstrack. Since then, there has been
an impressive list of programmes, all of which have managed to carve a niche
for themselves.
TV
Today Network pioneered the first Hindi news and current affairs programme,
"Aaj Tak" in the year 1995. Aired at 10.00-p.m. daily on Doordarshan
Metro channel, Aaj Tak became increasingly popular for its style and
comprehensive coverage. Over 6 million viewers across India have been watching
Aaj Tak as a daily habit, placing it way ahead of any other news and current
affairs programme in the country. The key to Aaj Tak's popularity is its
rapport with its audience. Whether it's been in selection or presentation of
news, Aaj Tak has sought to be innovative, energetic and strived for a touch of
flair.
The
group has also established its credibility in successfully presenting some of
the major live events like Union Budget'97 and Election Results Live'98 &
99.
To
further the journalistic tradition of the Group and the brand value of its
programme Aaj Tak, the group has launched a 24-hour Hindi news & current
affairs channel. The prime objective of the channel is in line with the path
the Group has followed since inception of TV Today Network. The group believes
in creating a totally new
idiom
in news television in India, which is completely different from the present
fare that tends to be formal, traditional, serious, repetitive and boring.
India is a vast and exciting country and we have a channel that captures the
very essence of this happening country.
The
aim of the channel is to capture the rapid transformation in India in all
fields at the fastest pace in the most imaginative, memorable and accurate
manner. To achieve the same, the channel has a dynamic team of over 300
professionals. A sizeable number of these are devoted to newsgathering and
production across the country . An additional network of stringers further
strengthens the channel's objective of providing continuous and timely news
coverage round the clock. The newsgathering setup is complemented by
state-of-art technology that includes lightweight cameras, on-line editing,
newsroom automation & 3D-graphics. All these contribute to the dynamic look
& feel of the channel. The channel has a live uplink facility from all the
bureaus and OB vans to cover live breaking news.
Ever
since its launch as a 24 Hour Channel on December 31,2000, Aaj Tak has been
showing an upswing in viewership. According to the latest TAM reports Aaj Tak
is all set to take the top slot amongst the news channels, with its prime time
viewership overtaking that of Zee news. The audience share of Aaj Tak has gone
up from 6% at the time of launch to 37% in little over 2 months as per the TAM
report (Week ending March 17th). The share increases to 42% in the Hindi
speaking markets. Aaj Tak garners the maximum audience share among news
channels during the prime band.
The
editorial expertise and network coupled with state-of-art technical
infrastructure, has enabled the channel to live up to the viewers' expectation
of being the first to deliver news in an impartial & unbiased manner.
Programming
Aaj Tak: On July 17, 1995, TV Today Network
pioneered the first Hindi news and current affairs programme - Aaj Tak. Aired
at 10.00 p.m. on weekdays on Doordarshan Metro, it has become increasingly
popular for its style and comprehensive coverage. On January 14, 1999 Aaj Tak
became the only news and current affairs programme by a private producer on
Doordarshan to cross the 1000 episode mark. This is a proof of its popularity -
a loyal viewer base of over 2 million across 9 Indian cities (AC Nielsen TAM
ratings) and way ahead of other news & current affairs programmes.
Subah Aaj Tak: Launched in August 10, 1998, Subah Aaj Tak is telecast at
7.15 am Monday to Friday on DD Metro. This feel good show of 45 minutes, covers
a range of issues like business, politics, sports, entertainment and human
interest issues. Subah Aaj Tak also features interviews and studio discussions.
The programme has already become the viewer’s choice in the morning band, with
a viewership of as high as a million across 9 Indian cities (AC Nielsen TAM
rating).
Art
Art Today, since its inception in 1994, has
become the leading art gallery of the country with a spectacular showspace in
the centre of Delhi. It has also held a host of exhibitions covering artists
from all over India. These include senior masters like M.F. Hussain, Satish
Gujral, Meera Mukherjee, Gogi Saroj Pal, A Ramachandran, Ranbir Kaleka, Ved
Nayar, Ravinder Reddy and K.T.Shivaprasad as well as budding talent in the last
year of art college from Delhi College of Art, J J School of Art and M S
University, Baroda. It has also helped discover lesser-known talents from
Bhopal, Indore, Gulbarga, Nagpur, Calcutta and Delhi.
The
gallery has also opened stunning shows of two leading Chinese painters from
Hong Kong, Victor Lai Ming Hoi and Yan Kwai Wong, sculptor Stephen Cox from UK
and painter Paul Broekman from Holland and photographer Antonio Martinelli from
France, all of whom travelled and worked in India. Art Today has also, for the
first time in India, produced limited edition reproductions of great Indian
masters, numbered and signed by the artists.
Book Club
India
Today Book Club, the first of its kind in the subcontinent, was launched in
April 1999 with the purpose of reaching high-quality books, to the doorsteps of
book-lovers at unmatched prices. Each quarter, members receive a free
all-colour magazine, Books Today which apart from exclusive articles and
interviews, offers an exhaustive range of titles from all over the world,
catering to varied interests. From this selection, members can choose the
latest fiction, art and reference books, children's reading material and titles
on cooking, gardening, fitness, religion and spirituality, information
technology and medicine, to name a few. Apart from the convenience of a home
delivery service, the Club on an average, offers discounts in the region of
25-60 per cent.
The
idea of the Book Club has been extremely well received and it is hoped it will
in the times to come, reach the far corners of India, where book-lovers have
till now been starved of reading material.
Education
Vasant
Valley School opened in 1990 with 200 students and a staff of 16 in New
Delhi. By 1998 there were 1000 students and a staff of 105. The school believes
that education is a preparation for life and is an enjoyable, interactive and
ongoing process that equips students to be thinking, caring and confident young
adults.
Vasant
Valley is committed to developing constructive citizens who are sensitive, open
minded, creative and aware. The school's objective is to define a positive
attitude, to help imbibe social and moral values and to encourage original
expression. The emphasis here is on learning and not on teaching. In order to
realise this vision, Vasant Valley has created an ambiance where children want
to learn.
Knowledge
is not just imparted but students are trained to experiment, collate
information, draw inferences and to arrive at their own conclusions. The longer
working day enables the school to implement the Multiple Intelligence Theory.
The student's individual interests are further developed in hobby programmes,
which offer choices as divergent as carpentry and magic. The success of the
school's system lies in careful planning of each lesson in the school year. The
school's academic programme is geared not just towards CBSE examinations but
goes beyond it.
For
example, the English taught to the students upto class 12 goes beyond the
parameters prescribed by the text. The school has seen four very successful
batches of class 10 results and its first batch of class 12s preparing its
first batch of students for the CBSE class 12.
In
1997, we opened a centre for children with special needs, with a
multi-disciplinary team of six professionals. The objective was to train them
in life skills and integrate them into regular school systems. From July 1999 a
course on Main Streaming Education for Special Children is being conducted. The
course duration is 9 months.
The
Vasant Valley Centre was set up in 1998. The aim was to widen
the scope of activities to outside the realm of the school – to the greater
pursuit of education and to society at large. A team of qualified professionals
have developed a series of workshops, modules and packages focussed on Teacher
Development Programmes. Talks and discussions are held regularly to discuss
issues of public importance. A set of text books are ready for publishing.
These will enhance the learning patterns of primary children. The centre also
runs evening classes for coaching for IIT and PMT entrance examinations.
Classes for the National Open School are also held regularly.
Printing
Thomson Press has, in the last 30 years of
operations, emerged as the largest commercial printer in South Asia. Thomson
Press (India) Ltd, which is a subsidiary of Living Media India Ltd, continues
to invest in the latest print technologies and sees some of the most eminent
print buyers repose faith in its services and facilities. Its global customers
include the best names in the publishing world amongst which are Elsevier,
Gordon and Breach, Oxford University Press and Cambridge University Press. In
India, the company services the demanding quality requirements of the India
Today group, Reader's Digest and a host of major advertising agencies and
corporate houses.
The
company's range of services extend from scientific photo typesetting and
digital imaging in the pre-press area to circulation management. The product
range covers virtually all commercial print requirements on paper and board,
from lottery tickets to bank instruments, calendars, diaries, books, corporate
brochures, posters, folders, leaflets, magazines and photo typeset and colour
separated films. This impressive range of services and products cover creative
designing, copy and subject editing, complex scientific and mathematical photo
typesetting, high quality scanning and image manipulation, sheet fed offset
printing, heatset and coldset web offset printing and automated binding and
finishing.
Reliable
and state-of-the-art technologies and equipment developed by Scitex,
Linotype-Hell, Roland, Mitsubishi, Harris, Muller Martini, Stahl, Camco,
Brehmer and Shoei, Yoshino Rotor and Kolbus are used at Thomson Press to meet
the print and finishing demands of clients. The company also runs a Training
School for young aspiring printers. The four year programme has been
meticulously developed to impart international standards of education in print
technologies.
Others
Integrated
Databases India Limited (IDIL) is a joint venture company promoted
by the Living Media India group and SingTel Yellow Pages Pte Ltd, a wholly
owned subsidiary of Singapore Telecom. The company started its operation in
1993 and has offices at Delhi, Mumbai, Bangalore and Chennai. It is uniquely
positioned to provide the state of the art directories in print and electronic
medium, management of database information and direct marketing/sales. IDIL
employs over 200 people.
It
publishes two products 'Commercial & Industrial Guide and The Automobile
Owner's Guide (TAG). Commercial & Industrial Guide is catering to the
business needs of industries and has a circulation of over 2,40,000 in the cities
and surrounding areas of Delhi, Mumbai, Chennai and Bangalore. TAG is in the
third year of its publication and distributes 1,40,000 copies primarily in the
cities of Mumbai & Delhi. The product is targeted at the automobile owner
and provides information on selecting a new car, accessories, car repair and
car maintenance. The Company hopes to bring out new niche directories to cater
to the infrastructure industries.
India Today
Group Online is the web enabler for Living Media India Limited. Rated
among the top Indian websites, it is the only platform offering round the clock
news updates along with reports over audio and video. While the group magazines
are put up on this website, it also showcases the group's music titles and art
collection.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.32 |
|
UK Pound |
1 |
Rs. 81.82 |
|
Euro |
1 |
Rs. 56.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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. |
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 |
|