MIRA
INFORM REPORT
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Report Date : |
05.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
HATHWAY CABLE AND DATACOM PRIVATE LIMITED |
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Registered Office : |
Rahejas, 4th Floor, Corner of Main Avenue and V.
P. Road, Santacruz (West), Mumbai – 400 054, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.08.1959 |
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Com. Reg. No.: |
11-11421 |
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CIN No.: [Company
Identification No.] |
U74994MH1959PTC011421 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH07346D |
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PAN No.: [Permanent
Account No.] |
AAACC6814B |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Provider of Broadband Internet Connections |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by average 45 days |
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Litigation : |
Clear |
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Comments : |
Financial position of the company can be regarded as moderate having accumulated losses. Payments are reported as slow by average 45 days to local suppliers. Trade relations are fair. The company is controlled by Rahejas who are resourceful real estate developers turned industrialists. Their aggregate means are huge. The company can be considered normal for business dealings
at usual trade terms and conditions with slight caution. |
LOCATIONS
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Registered Office : |
Rahejas, 4th Floor, Corner of Main Avenue and
V. P. Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
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Tel. No.: |
91-22-26001306 / 26055041 / 56628825/ 56789800 |
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Fax No.: |
91-22-26001307 |
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E-Mail : |
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Website : |
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Corporate Office : |
v Mumbai Trade World, "B" Wing, 10th Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (W), Mumbai- 400 013 Tel: 91 22 5662 3333, Fax: 91 22 24933355 v Delhi : AB- 6, Safdurjung Enclave, New Delhi- 110029 Tel: 91 11 2618 8548 / 8741, Fax: 91 11 26188547
v Bangalore : Shree Complex, 4th Floor, 73, St. John's Road, Bangalore- 560042 Tel: 91 80 25545625/680/679/597, Fax: 91 80 25545597
v Chennai: “House of Lords”, Flat No. GB, Door No-29, Luz Avenue , Mylapore, Chennai - 600 004 Tel: 91 44 2499 3115/ 4776/ 4716, Fax: 91 44 24993080 v Hyderabad : 3-6-20/21, 2 nd Floor, Sadhana Building , Hyderguda, Hyderabad- 500 0 29 Tel: 91 40 23222418, Fax: 91 40 5566 7285 v Pune: 3rd Floor, Sterling Plaza , Above UTI Bank, Junglee Maharaj Road , Pune – 411 004 Tel: 91 20 2403 0696/97/98, Fax: 91 20 4013847 v Nasik : 2nd Floor, Shiledar Bhavan, Opp. Fire Brigade Office, Shingadaalav, Nasik - 422 002 Tel: 91 253 2599513 / 2599401, Fax: 91 253 2599 987 v Vijayawada : D.No. 29-15-3, Ankur Apartments, 1st & 2 nd Floor, Sheshadri Shastry Street , Governorpet, Vijayawada - 520002 Tel: 91 866 2574555, Fax: 91 866 2573966
v Ludhiana : Office No. 5 & 6, 5 th Floor, The Mall Plaza , The Mall Fountain Chowk, Ludhiana – 140 001 Tel: 91 161 2430788, Telefax: 91 161 2430788 v Jalandhar: Surya Tower, Near Lal Ratan Cinema, Nakodar Chowk, Jalandhar (Punjab) Ph: 91 181 5077030-040 |
DIRECTORS
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Name : |
Mr. Kalyanasundaram Jayaraman |
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Designation : |
Managing Director |
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Address : |
909, Brindaban,
II-B, Poonam Nagar, Andheri (East), Mumbai-400093, Maharashtra |
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Date of Birth/Age : |
16.05.1961 |
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Date of Appointment : |
08.02.2001 |
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Name : |
Mr. Rajan B. Raheja |
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Designation : |
Director |
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Address : |
Rahejas, 87/1, G.
B. Marg, Juhu, Mumbai-400049, Maharashtra |
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Date of Birth/Age : |
17.06.1954 |
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Date of Appointment : |
07.09.2000 |
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Name : |
Mr. James R. Murdoch |
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Designation : |
Director
(Foreign) |
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Address : |
Hongkong |
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Date of Birth/Age : |
13.12.1972 |
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Date of Appointment : |
07.09.2000 |
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Name : |
Mr. Bruce J. Churchill |
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Designation : |
Director
(Foreign) |
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Address : |
Hongkong |
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Date of Birth/Age : |
30.08.1958 |
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Date of Appointment : |
07.09.2000 |
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Name : |
Mr. Jagdishkumar G. |
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Designation : |
Director |
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Address : |
Powai |
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Date of Birth/Age : |
18.01.1962 |
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Date of Appointment : |
03.07.2000 |
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Name : |
Mr. Peter B. Mukerjea |
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Designation : |
Alternate
Director |
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Address : |
62/B, Marlowe
Building, Pochkhanawala Road, Worli, Mumbai-400025, Maharashtra |
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Date of Birth/Age : |
21.11.1955 |
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Date of Appointment : |
08.02.2001 |
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Name : |
Mr. Vinayak P. Aggarwal |
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Designation : |
Director |
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Address : |
502, Gladioli,
Off Yari Road, Versova, Andheri (West), Mumbai-400061, Maharashtra |
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Date of Birth/Age : |
12.04.1969 |
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Date of Appointment : |
14.06.1996 |
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Name : |
Mr. Satish B. Raheja |
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Designation : |
Director |
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Address : |
CP 3153, 1211,
Geneva, Switzerland |
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Date of Birth/Age : |
03.01.1961 |
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Date of Appointment : |
07.09.2000 |
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Name : |
Mr. Akshay R. Raheja |
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Designation : |
Director |
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Address : |
Rahejas, 87/1, G.
B. Marg, Juhu, Mumbai-400049, Maharashtra |
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Date of Birth/Age : |
25.05.1982 |
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Date of Appointment : |
07.09.2000 |
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Name : |
Mrs. Liza D.
Newnham |
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Designation : |
Director |
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Address : |
Flat No.2801, Wun
Sha Tower, 33-45, Wun Sha Street, Taj Hang, Hong Kong |
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Date of Birth/Age : |
04.03.1971 |
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Date of Appointment : |
30.06.2005 |
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Name : |
Mr. Nitin Atroley |
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Designation : |
Director |
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Address : |
E-63, Vasant Marg,
Vasant Vihar, New Delhi-110057 |
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Date of Birth/Age : |
26.04.1966 |
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Date of Appointment : |
28.06.2004 |
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Name : |
Mr. Viren K.
Raheja |
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Designation : |
Alternate
Director |
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Address : |
Rahejas, 87/1, G.
B. Marg, Juhu, Mumbai-400049, Maharashtra |
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Date of Birth/Age : |
13.06.1984 |
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Date of Appointment : |
24.02.2004 |
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Name : |
Mr. Sanjay Johar |
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Designation : |
Alternate
Director |
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Address : |
12, Aarti, V.P. Road,
Santacruz (West), Mumbai-400054, Maharashtra |
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Date of Birth/Age : |
06.05.1964 |
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Date of Appointment : |
30.06.2005 |
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Name : |
Mr. Michelle D.
Gautherie |
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Designation : |
Director |
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Address : |
12-A, Namshan New
Village, PO LO CHE Road, Sai Chung, Hong Kong |
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Date of Birth/Age : |
12.10.1965 |
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Date of Appointment : |
26.11.2003 |
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Date of Ceasing : |
27.06.2005 |
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Name : |
Mr. May Yin Oh |
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Designation : |
Alternate
Director |
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Address : |
5/C, Vienna Court,
41, Conduit Road, Midlevel, Hong Kong |
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Date of Birth/Age : |
14.08.1968 |
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Date of Appointment : |
30.06.2005 |
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OTHER PERSONAL |
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Name : |
Mr. Milind D. Karnik |
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Designation : |
Company Secretary |
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Address : |
E/30, Sai Krupa, Ram
Mandir Road, Babhai, Borivali (West), Mumbai-400092, Maharashtra |
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Date of Birth/Age : |
02.12.1960 |
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Date of Appointment : |
01.01.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Hathway Investments Private Limited |
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4833600 |
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Mr. Akshay R. Raheja |
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8094200 |
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Mr. Rajan B. Raheja |
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Mr. Suman Raheja |
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Mr. Viren Raheja |
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7970200 |
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Spur Cable & Datacom Private Limited |
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2550000 |
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Starfish International Private Limited |
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8238500 |
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Asian Cable Systems Private Limited |
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8238500 |
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BUSINESS DETAILS
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Line of Business : |
Provider of Broadband Internet Connections |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
600 |
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Bankers : |
v IDBI Bank Limited, Khar (West) Branch, Mumbai v UTI Bank Limited, Universal Insurance Building, P.M. Road, Fort, Mumbai-400001, Maharashtra, India v Housing
Development Finance Corporation Limited, Ramon House, 169B, Ackbay
Reclamation, H. T. Parekh Marg, Mumbai-400020, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
G. M. Kapadia & Company Chartered Accountants |
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Address : |
Tamarind House, 36-B, Tamarind Lane, Mumbai – 400 001 |
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Associates/Subsidiaries : |
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Associates : |
Pan Cable Services Private Limited |
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Joint Venture -Subsidiaries : |
· Chennai Cable Vision Network Private Limited · Hathway Vcn Cabletel Private Limited · Hathway Software Developers Private Limited · Utn Cable Communication Private Limited · Hathway Channel 5 Private Limited |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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316,86,500 |
Equity Shares |
Rs. 10/- each |
Rs. 316.865 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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316.865 |
316.865 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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3612.964 |
3612.964 |
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4] (Accumulated Losses) |
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(833.338) |
(702.982) |
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NETWORTH |
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3096.491 |
3226.847 |
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LOAN FUNDS |
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1] Secured Loans |
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909.958 |
779.094 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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909.958 |
779.094 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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4006.449 |
4005.941 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2002.447 |
1989.755 |
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Capital work-in-progress |
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638.573 |
738.622 |
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INVESTMENT |
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308.607 |
348.497 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.496 |
0.000 |
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Sundry Debtors |
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332.958 |
340.949 |
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Cash & Bank Balances |
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73.243 |
106.512 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1387.382 |
1104.400 |
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Total
Current Assets |
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1797.079 |
1551.861 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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732.991 |
622.308 |
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Provisions |
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8.732 |
7.105 |
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Total
Current Liabilities |
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741.723 |
629.413 |
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Net Current Assets |
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1055.356 |
922.448 |
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MISCELLANEOUS EXPENSES |
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0.461 |
0.874 |
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Indirect Expenses |
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1.005 |
5.745 |
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TOTAL |
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4006.449 |
4005.941 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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1749.339 |
1389.434 |
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Total Income |
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1749.339 |
1389.434 |
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Profit/(Loss) After Tax |
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(95.490) |
(91.410) |
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Expenditures : |
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Interest |
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83.302 |
38.145 |
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Depreciation & Amortization |
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301.055 |
250.972 |
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Other Expenditure |
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1460.473 |
1191.727 |
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Total Expenditure |
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1844.830 |
1480.844 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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(5.45) |
(6.57) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.23 |
0.19 |
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Current Ratio (Current Asset/Current Liability) |
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2.42 |
2.46 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or
modification of charges
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Corporation identity number or foreign company registrations number of
the company |
U74994MH1959PTC011421 |
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Name of the company |
HATHWAY CABLE & DATACOM PRIVATE LIMITED |
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Address |
Rahejas, 4th Floor, Corner of Main Avenue and V. P. Road, Santacruz (West), Mumbai – 400 054, Maharashtra |
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This Form is for |
Creation of charge |
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Type of Charges |
Immovable property Movable property (not being pledge) |
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Particular of the charge holder
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Housing Development Finance Corporation Limited, Ramon House, 169B, Ackbay Reclamation, H. T. Parekh Marg, Mumbai-400020, Maharashtra, India E-Mail : securities@hdfc.com |
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Nature or description of the instrument creating charge |
Deed of hypothecation dated 14.10.2006. |
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Date of the instrument creating charge |
14.10.2006 |
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Amount Secure by the charge |
Rs.350.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest ROI on tranche 1 of Rs.275 millions is equivalent to six months USD
LIBOR rate (USD-LIBOR-BBA) Plus 450 basis points calculated on actual/360
days basis, which shall be reset on 1st May and 1st
November of each year as applicable under the loan terms. ROI on second tranche of Rs.75 millions is
equivalent to HDFC CPLR+/- spread as applicable under the loan terms. Terms of repayment For 1st tranche on Rs.275 millions the term is 24 months
commencing on 01.09.2006 out of which Rs.150 millions will be repaid on
30.04.2008 and Rs.125 millions shall be repaid on 31.08.2006. the 2nd
tranche of Rs.75 millions shall be for a period of 60 months commencing from
01.10.2006 and payable in 14 quarterly installments commencing from
30.06.2006. Extent and operation of the charge The loan is secured by the borrower by hypothecation of its movable
and immovable assets as and by way of extension of charge to the lenders ranking
pari passu with the charges created in favour of IL and FS Limited and UTI
Bank Limited for the repayment of loan and monies including interest,
liquidated damages, charges, expenses. |
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Particulars of the Property charged
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Present and future movable and immovable capital equipments, plant and
machinery purchased and or to be purchased by borrower which is/or to be
purchased by borrower which is/are lying/stored in borrowers head ends,
offices, premises and godowns/whether the same held by borrower/ in the
course of transit/ on high seas/in possession/control and belonging to
borrower by of substitution, addition, ranking pari passu with the charges
created in favour of IL and FS Limited and UTI Bank Limited b way of
extension of earlier pari passu charge created by borrower. |
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Name of the
company |
HATHWAY CABLE & DATACOM PRIVATE LIMITED |
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Presented By |
Mr. Milind Karnik, Company Secretary |
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1) Date and
description of instrument creating the change |
Composite hypothecation
deed dated 31.01.2003, executed by the company in favour of UTI Bank Limited |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.175.000
millions |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Company’s head
end equipments, movable goods and assets both present and future including
purchased out of financial assistance from UTI Bank Limited and company’s
present and future book debts. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
The charge operates as security for the due repayment by the company
of the financial assistance by UTI Bank Limited for Rs.175 millions
comprising of fund based limit of Rs.100 millions @PLR (present 12%) and Non
fund based limit of Rs.500 millions. |
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5) Name and
Address and description of the person entitled to the charge. |
UTI Bank Limited Registered Office : Trishul, 3rd Floor, Opposite Samartheshwar
Temple, Law Garden, Ellis Bridge, Ahmedabad-380006 Branch: Universal Insurance Building, Sir P.M. Road, Fort,
Mumbai-400001 |
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6) Date and brief description of instrument
modifying the charge |
Supplementary
deed of hypothecation (current assets and movables) dated 21.03.2005 |
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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. |
31.01.2003- Original
charge of Rs.175 millions (Registered on 25.02.2003 Doc. No.126) 31.05.2003 –
Amount secured by the charge increased to Rs.400 millions (Registered on
27.06.2003 Doc. No.134) 26.06.2003 – Amount
secured by the charge increased to Rs.500 million hereby L/C Limit increased
to Rs.450 millions (i.e. increased by Rs.100 millions from Rs.300 millions
and by converting CC facility of Rs.50 millions to L/C facility and thereby
leaving CC facility of Rs.50 millions) (Registered on 22.07.2003 Doc. No.135) 02.12.2003 – The
L/Cs to the tune of Rs.65 millions, out of the L/C outstanding, being
converted into Overseas Buyer Line of Credit for a period of 180 days from
the due date of L/Cs issued by UTI Bank Limited (Registered on 08.04.2004
Doc. No.145) 22.01.2004 – The
L/C to the extent of Rs.250 millions out of the L/C limit of Rs.450 millions
(including Overseas Buyer’s Line of Credit) converted into Term Loan and the
L/C limit stands reduced to Rs.75 millions.
(Registered on
08.04.2004 Doc. No.146) 05.10.2005 – Amount
secured by the charge increased to Rs.425.000 millions Now vide above
referred supplementary deed of
hypothecation dated 21.03.2005, the working capital limits are renewed
and enhanced as given below :
The security by
way of hypothecation of company’s head end equipments, movable goods and assets,
book debts given earlier as pari passu charge are also extended to secure
enhanced limit. |
OPERATIONS
Directors reported a healthy growth in the income form operations of the company by 122% over the same period. The total income including other income was Rs. 999.50 millions as compared to the last year’s income of Rs. 641.60 millions. This again shows as year on year growth of over 56% over the last year. the company has made a gross profit of Rs. 192.80 millions and after providing for interest, provisioning, depreciation and amortization the net loss for the year is Rs. 40.61 millions as compared to last year’s net loss of Rs. 6.98 millions.
The net loss for the period under review has increased due to higher depreciation and amortization charge. At the operating level the impact of pay channel hike could not be passed on resulting in the deficit.
YEAR UNDER REVIEW AND FUTURE PLANS
Cable Business
The company continues to offer services to cable TV home, movie channels, city specific local news and interactive dial-in music channel and Internet access over cable infrastructure.
The Government of India has passed an enactment for Conditional Access System whereby it become obligatory on the part of the Cable Operators to transmit/re-transmit programmes of every pay channel through an addressable system. The object of this new system being pay for what you watch. The new system will allow the viewers to choose their pay channels and pay accordingly.
This being major development in the Cable Industry the company has undertaken step for implementing CAS since January, 2003 itself. The company had entered into various MOUs, understandings, arrangement and agreements to introduce the technology, software and system required for CAS with local as well as overseas parties. The company is well prepared for implementing CAS
ISP Business
The company has made excellent progress in the business of providing internet Access over cable by offering speed and quality access. During the year under review the company has started providing its internet services in the cities of Hyderabad and Nashik. The company has also started providing internet Telephony Services by the brand name called ‘Net talk’ with effect from October, 2002
The company is happy to inform that the subscriber numbers have increased by more than 123% as compared to last year while the gross revenue from ISP business has more that doubled as compared to the same period last year.
The company’s fixed assets of important value includes Air conditioners, , Structural Fittings, Mobile, Pagers and Telephone, Studio Equipments, Electrical Fittings, Movie Master Tapes, Furniture & Fixtures, Head End Equipment, Distribution Equipment, Computers, Office Equipment and Vehicles.
The company is in trade terms with :
v Acme Enterprise
v Ark Electronics
v Network Electronics
v Panjam Electronics
v Shri Om Engineering Works
v Vasundhara Engineering Works
v Bhansali Cable And Condusters Private Limited
Segmental Reporting
The company has two primary segments :
v CATV Business
v ISP Business
CATV Business companies of receiving, distributing and transmitting satellite channel programs. To further augment the CATV Business, advertisements are run in the local channels and airtime sold in the exclusive Chief Executive, C News and ITV Channels
ISP business comprises providing internet services.
DIGITAL CABLE TV
Hathway Digital Cable TV services bring you a fantastic selection of entertainment and services with quality, choice and control.
Through world-class technological support, a fully upgraded digital infrastructure and a commitment to increasing choice and value for our customers, Subject brings the digital age transforming the way you receive information and entertainment.
Digital picture
quality and sound
Enjoy crystal clear picture and stereophonic sound without having to buy expensive equipment.
Interactive on screen
programming guide
Enjoy the most advanced Electronic Programming Guide (EPG). Scan program listings, reserve programmes days in advance, set convenient on-screen reminders, parental control and many more.
Over 140+ channels
More variety, more choice, more entertainment from Hathway Value packages with an exciting mix of all popular channels ranging from General Entertainment, Sports, News, Movies, Music and lots more.
Future:
Interactive TV
v Ability to interact with the Television - a whole new world of opportunities through the television.
v Access to shopping (e-commerce), banking, e-mail and entertainment – all through television.
CORPORATE
They at subject, are guided by a vision - "To be a single point access provider bringing into the home and work place, the converged world of information, entertainment and services."
Being one of the largest Cable TV services company of India, spurs them to be the best in whatever they do. Established in 1995, subject provides quality Cable TV services in ten cities across the nation. With fiber optic backbone across its networks and state-of-the-art distribution set ups, they bring the digital age through Cable transforming the way viewers receive information and entertainment.
Currently subject has three broad service areas.
Cable TV - Subject currently provides cable TV services in the following 10 cities:
Mumbai, Delhi , Chennai, Bangalore , Hyderabad , Pune, Nashik, Ludhiana , Jalandhar and Vijaywada
Digital Cable TV - Subject becomes the largest Cable TV service provider to roll out Digital Cable TV services in
3 metros- Mumbai, Delhi & Chennai
Hathway Cable Internet - "Pioneers in Cable Internet technology in India." Hathway Cable Internet is the largest
Cable ISP providing Cable Internet services in 10 cities across the nation:
Mumbai, New Delhi, Chennai, Bangalore, Hyderabad, Pune, Nashik and Ludhiana, Mysore and Baroda
Subject also has under its umbrella - Cine Channel (CCC), a movie based entertainment channel, C-News, a
local centric news capsule, I TV, a unique dial in interactive music channel and various local channels like WIN
Delhi, C-Hyderabad, C-Bangalore
Hathway STAR Strategic Alliance
In September 2000 subject entered into a strategic alliance with one of the
largest content providers in the world, STAR. This alliance will see the launch
of enhanced and digital interactive TV all across the country. Enabling the
subscriber to access world-class broadband services on their TV sets.
The Rajan Raheja
Group
The Rajan Raheja Group is well diversified with interests in a multitude of businesses with great emphasis on being market leaders in their respective areas. Having laid a strong foundation in the areas of Real Estate and Construction, Automotive Batteries, Cement, Ceramic Tiles, Mutual Funds, Hotels, it has now ventured into Media, Entertainment, Networking and Broadband Internet, Retailing.
Some of the group Companies include
Real Estate – The real estate division of the Rajan Raheja group is known for quality homes and constructions.
Exide Industries Ltd. - India's number one company in automotive and Industrial Batteries controlled by the Raheja Group with a market share of 85% of automotive batteries in India.
Prism Cement Ltd. - The largest single-phase kiln cement plant in India with a 2 million tone per annum capacity, set-up in collaboration with F.L. Smidth and IFU of Denmark.
H&R Johnson Tiles- Pioneers of the Indian wall and floor tile industry, is a member of Johnson Ceramics International, UK one of the top five ceramic tile companies in the world.
RMC Readymix Company - promoters along with the world's largest manufacturers of Ready mix concrete, RMC Group plc, UK
Globus Stores Private Limited - This is a retail Chain venture of the group and has set up Globus stores at Mumbai, Delhi, Chennai, Bangalore and Indore , plans to launch more stores across the nation.
Outlook – India's most
exciting weekly news magazine with a circulation of over 2.5 lac copies per
week.
Outlook Traveller - The most
comprehensive travel magazine covering India & abroad, also has a portal
outlooktraveller.com.
Outlook Money - India 's only
personal finance magazine with a circulation of over 0.1 million copies per
week.
Asianet Satellite Communications Limited – The
Company has state-of-the-art cable TV distribution network in the state of
Kerala.
The R. Raheja Group also has its presence in various other industries like:
Petrochemicals - Investment interests in the petrochemical sector has led to the formation of Supreme Petrochem Limited in association with Supreme Industries Limited.
Asset Management – The group has a stake in Templeton Asset Management Company Private Limited, a joint venture with Franklin Templeton Group, which manages over US$220 billion worldwide.
Software - A significant investor in Sonata Software, a company which today has the distinction of being among the top software companies in India.
Hospitality - The Group has entered into a joint venture with The Oberoi Group to have a chain of hotels across India under the brand name Trident.
Awards
Subject is Winner of Best Cable TV service provider of the Year consecutively for 2002 & 2003 for its quality Cable TV and broadband Cable Internet services.
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. 39.37 |
|
UK Pound |
1 |
Rs. 81.82 |
|
Euro |
1 |
Rs. 56.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
-- |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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 |
|