MIRA INFORM REPORT

 

 

Report Date :

24.09.2007

 

IDENTIFICATION DETAILS

 

Name :

ABP  PRIVATE LIMITED

 

 

Registered Office :

6,  Prafulla Sarkar Street, Kolkata – 700 001, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

17.05.1922

 

 

Com. Reg. No.:

21-4503

 

 

CIN No.:

[Company Identification No.]

U22219WB1997PTC004503

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALA00161A

 

 

PAN No.:

[Permanent Account No.]

AACCA4609E

 

 

Legal Form :

Private Limited  Liability Company

 

 

Line of Business :

Printing and Publishing of Newspapers, Magazines,  etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 6713364

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well – established and reputed company having satisfactory track. Directors are reported as experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered / Factory/ Head / Warehouse Office :

6 Prafulla Sarkar Street, Kolkata – 700 001, West Bengal, India

Tel. No.:

91-33-22374880 / 22378000 / 22349337 / 22806664 /  22345357 / 22600198  / 22345374 / 22216600 / 22378000

Fax No.:

91-33-22253240 / 22253241 / 22251617

E-Mail :

zbasrai@abpmail.com

zahra.basrai@abp.in

Website :

http://www.abp.in

Tele Fax No:

021-5468 / 5469 ANBZ IN

Area:

100000 sq. fts

Location:

Owned

 

 

Overseas Office:

Wheatshead House, 4, Carmelite Street, London, EC4Y 0BN, U.K.

 

 

Corporate Office :

GN 39, Sector 5, Bidhan Nagar, Kolkata - 700 091, West Bengal

Tel. No.:

91-33-22600159

Fax No.:

91-33-22254015

 

 

Branches :

·         Megabyte Business and Communication Centre

 

o        Address1: Navrang Building, Swastik Char Raste, Ahmedabad – 380 009, Gujarat

 

o        Address 2: 14, Madras Bank Road, 4th Floor, Bangalore – 560 001, Karnataka

 

o        Address 3 : 267-B, Royapettah High Road, Chennai-600014, Tamilnadu

 

o        Address 4: PTI Building, 3rd Floor, AC Guards, Hyderabad – 500 004, Andhra Pradesh

 

o        Address 5: 145, Atlanta, 209, Ceremonial Boulevard, Nariman Point, Mumbai – 400 021, Maharashtra

 

o        Address 6: Flat # 1004, New Delhi House, Barakhamba Road, New Delhi – 110 001

 

 

 

DIRECTORS

 

Name :

Mr. Dipankar Das Purkayastha

Designation :

Director

 

 

Name :

Mr. R Gopalakrishnan

Designation :

Director

Address :

101 Baug E Abbas, 21 – A Cuffe parade, Mumbai – 400 005, Maharahstra, India

Date of Birth/Age :

25.12.1945

Date of Appointment :

15.12.2003

 

 

Name :

Mr. Aveek  Kumar Sarkar

Designation :

Director

Address :

12/4  Ballygunger Park Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

09.06.1945

Date of Appointment :

15.12.2003

 

 

Name :

Mr. Arup Kumar Sarkar

Designation :

Director

Address :

12/4  Ballygunger Park Road, Kolkata – 700 019, west Bengal, india

Date of Birth/Age :

09.06.1945

Date of Appointment :

15.12.2003

 

 

Name :

Mr. Shobha Subrahmanyan

Designation :

Director

 

 

Name :

Mr. Pramath Raj Sinha

Designation :

Managing Director

Address :

N – 154 Panchsila Park, New Delhi – 110 017, Delhi, India

Date of Birth/Age :

12.06.1964

Date of Cessation :

15.08.2007

 

 

Name :

Mr. Ashok Sekhar Ganguly

Designation :

Director

Address :

N6 Pemino,  Altamount Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

28.07.1935

Date of Appointment :

15.12.2003

 

 

Name :

Mr. Subrata Bagchi

Designation :

Director

Address :

7B, Nepal Bhattachargee Lane, Kolkata – 700 026, West Bengal, India

Date of Appointment :

01.08.1992

 

 

Name :

Mr. Sidharth Ghosh

Designation :

Director

Address :

34, Garcha First Lane, Kolkata – 700 019, West Bengal, India

Date of Appointment :

29.12.1999

 

 

Name :

Mr. Anirudh Lahiri

Designation :

Managing Director

Address :

Flat 2-A, 7/1, Queen’s Park, Kolkata – 700019, West Bengal, India

Date of Appointment :

01.11.2001

 

 

Name :

Ms. Savitri Parekh

Designation :

Director

Address :

336/1, Dumdum Park, Kolkata – 700 055, West Bengal, India

Date of Appointment :

01.08.2000

 

 

Name :

Mr. Sunil Krishna Mitra

Designation :

Director

Address :

8/1A, Jatindra Avenue, Kolkata – 700 006, West Bengal, India

Date of Appointment :

25.03.2002

 

KEY EXECUTIVES

 

Name :

Mr. Ashok S Ganguly

Designation :

Chairman

 

 

Name :

Dr. Bimal Jalan

Designation :

Advisor

 

 

Name :

Mr. Ranjit Pandit

Designation :

Advisor

 

 

Name :

Mr. Dipankar Das Purkayastha

Designation :

Chief Executive Officer

 

 

Name :

Mr. Kaushik Banerjee

Designation :

Vice President

 

 

Name :

Mr. Deepayan Chatterjee

Designation :

Deputy Editor

 

 

Name :

Mr. Anirban Chattopadhyay

Designation :

Editor

 

 

Name :

Ms. Madhumita Chattopadhyay

Designation :

Vice President

 

 

Name :

Mr. Amitabha Datta

Designation :

President

 

 

Name :

Ms. Kanak Ghosh

Designation :

Vice -  President

 

 

Name :

Mr. Vikas Gupta

Designation :

Chief Marketing Officer and President, Advertising Sales

 

 

Name :

Mr. Azhra Basrai

Designation :

Secretary

Address :

Swapna Nir Apartments, Flat # A1, 308 Pamasree Pally, Kolkata – 700 060, West Bengal, India

Date of Birth/Age :

31.12.1960

Date of Appointment :

02.05.2006

 

 

Equity Share Break – up (Percentage of Total Equity)

 

Sr. No.

Category

Percentage

1

Bodies Corporate

22.00

2

Directors or relatives of directors

78.00

 

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Printing and Publishing of Newspapers, Magazines,  etc.

 

 

Products :

Item Code No.

Product Description

49021001

Newspapers

 

 

Exports :

 

Countries :

Bangladesh, Myanmar and Nepal.

 

 

Imports :

 

Countries :

Germany, Japan, U.K. and U.S.A.

 

 

Terms :

 

Selling :

L/C, Credit

 

 

Purchasing :

L/C, Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Ř                   Menegraph Industries Limited, Mumbai, Maharashtra

Ř                   Hanegraph Industries Limited, Mumbai, Maharashtra

 

 

Customers :

Retailers

 

 

No. of Employees :

1500

 

 

Bankers :

·         State Bank of Hyderabad Brabourne Road Branch

             Address: 32A Brabourne Road, Kolkata – 700 001, West Bengal, India

 

·         United Bank of India

       Address: College Street Branch, Kolkata – 700 073, West Bengal, India

 

·         Citibank N.A.

 

·         State Bank of India

           Address: Bangalore, Karnataka

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

A F Ferguson and Company

Chartered Accountants

Address :

Apeejay House, 5th Floor, Block B, 15 Park Street, Kolkata – 700 016, West Bengal, India

 

 

Associates/Subsidiaries :

o        CIN of Subsidiary Company U92113WB2000PTC092157

       Name of the subsidiary company: ABP TV Private Limited

 

o        CIN of Subsidiary Company : U92132MH2003PTC136072

       Name of the  subsidiary company: Media Content and     Communications services (India) Private Limited

 

o        Name of Subsidiary Company: Ananda Publishers Private Limited

       Address: 45 Beniatola Lane, Calcutta 700 009 India

       Tel No:  91 33 2241 4352/ 3417

       Fax No:  91 33 2219 3856

 

o        Name of the company:  Anand Offset Private Limited

o        Name of the company: Anand Press and Publications Private Limited

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

2500000

Equity shares

Rs.100/- each

Rs. 250.000 millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

2000000

Equity shares

Rs. 100/- each

Rs.200.000 millions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

200.000

100.000

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

1478.341

1312.512

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

1678.341

1412.512

LOAN FUNDS

 

 

 

1] Secured Loans

 

1281.015

862.122

2] Unsecured Loans

 

13.500

13.500

TOTAL BORROWING

 

1294.515

875.622

DEFERRED TAX LIABILITIES

 

226.339

232.938

 

 

 

 

TOTAL

 

3199.195

2521.072

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

1512.615

1359.860

Capital work-in-progress

 

48.268

77.790

 

 

 

 

INVESTMENT

 

501.438

64.838

DEFERREX TAX ASSETS

 

35.675

20.668

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

442.744

432.680

 

Sundry Debtors
 

640.414

513.676

 

Cash & Bank Balances
 

385.783

383.174

 

Other Current Assets
 

2.402

2.402

 

Loans & Advances
 

897.220

770.774

Total Current Assets
 

2368.563

2102.706

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

960.368

1020.167

 

Provisions
 

421.986

240.312

Total Current Liabilities
 

1382.354

1260.479

Net Current Assets
 

986.209

842.227

 

 

 

 

MISCELLANEOUS EXPENSES

 

114.990

155.689

 

 

 

 

TOTAL

 

3199.195

2521.072

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2006

31.03.2005

Sales Turnover

 

4718.300

3863.600

Other Income

 

0.000

0.000

Total Income

 

4718.300

3863.600

 

 

 

 

Profit/(Loss) Before Tax

 

408.400

153.300

Provision for Taxation

 

142.600

45.700

Profit/(Loss) After Tax

 

265.800

107.600

 

 

 

 

Total Expenditure

 

4309.900

3710.300

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005

PAT / Total Income

(%)
 

5.63

2.78

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

8.65

3.96

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

9.14

4.22

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.24

0.10

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

1.59

1.51

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.71

1.66

 

LOCAL AGENCY FURTHER INFORMATION

 

HISTORY:

 

Subject was incorporated on 17th May, 1922 at Kolkata in West Bengal having Company Registration Number 4503.

 

Subject was originally incorporated under the name and style of “Anand Bazar Patrika Limited”. The name of the company was subsequently changed to ABP Limited w.e.f. 11th November, 1997. 

 

The company was recently converted into a private limited company.

 

BUSINESS:

 

Subject is engaged in the business of printing and publishing of Newspapers, Magazines, etc.

 

The company sells its’ product under the brand names “Prabashi Anandabazar” (Bengali Weekly), “Sunday” (English Weekly), “Anandlok” (Bengali Fortnightly), “Anandmela” (Bengali Fortnightly), “Desh” (Bengali Weekly), “Sananda” (Bengali Fortnightly), “Sportsworld” (English Weekly), “Business World” (English Fortnightly), “Anand Bazar Patrika” (Bengali Daily), “The Telegraph” (English Daily), “Business Standard” (English Business Daily).

 

 

Corporation identity number or foreign company registrations number of the company 

U22219WB1997PTC004503

Name of the company

ABP PRIVATE LIMITED

Address

6 Prafulla Sarkar Street, Kolkata – 700 001, West Bengal,  India

This Form is for

Creation of Charge

Type of Charges

Movable property

Particular of the charge holder 

Sate Bank of Hyderabad Brabourne Road Branch

Address: 32A Brabourne Road, Kolkata – 700 001, West Bengal, India

E-Mail ID : sbhbrrd@cal.vsnl.net.in

Nature or description of the instrument creating charge  

Agreement of Hypothecation of Goods and Assets dated 08.02.2007 and Letter regarding grant of individual limits within the overall limits dated 08.02.2007

Date of the instrument creating charge

08.02.2007

Amount Secure by the charge

Rs. 800.000 millions

Brief of the principal terms and conditions and extent and operation of the charge

Rate of Interest

8.75% p.a (fixed) to be reset after every two years

 

Terms of repayment:

In Twenty quarterly installments commencing from 30.06.2009 ending on 31.03.14

 

Margin

20%

 

Extent and operation of the charge

First Pari-passu charge on the fixed assets (hypothecation of machinery ) as detailed in the Annexure to the Hypothecation Agreement dated 08.02.2007

Short Particulars of the property charged (including location of the property)

Hypothecation of all machinery to be purchased out of bank finance – details of the property more particularly described in the annexure attached herewith.

 

WEBSITES DETAILS:

 

In 1922, Anandabazar Patrika first came out as a four-page evening daily that sold at two paise and had a circulation of about 1,000 copies a day. Eighty-five years later, Anandabazar Patrika reaches out to over seven million readers, every day!

 

Today, the ABP Group has evolved into a media conglomerate that has eleven premier publications, three 24-hour national TV news channels, two leading book publishing businesses as well as mobile and internet properties. Touching the lives of millions of readers and viewers, daily.

 

They believe the legacy you leave, is the life you lead. They see their selves as repositories of best practices and processes. And, at times, when they don’t have the very best within, they open windows to look out for expertise. Not surprisingly, ABP is associated with companies and personalities revered across the world.

In the world of journalism, they are not just a media house. They are really an alma mater.

 

1922
Anandabazar Patrika comes out as a four-page evening daily. A cartoon strip appears. Printer’s line appears (June 1) — an amendment of the Press Act makes it mandatory. Becomes a six-pager.

 

1923
Anandabazar Patrika becomes a morning daily. Ties up with Reuters, Associated Press and the Free Press of India. A bi-weekly Anandabazar starts for mufassil readers.

 

1925
First byline appears: “Their special correspondent.” Anandabazar Patrika becomes a 16-page wonder. A new Saturday section, Shanibarer Chithi, starts. It evolves into Rabibashoriyo. First 120-page special supplement on Calcutta Congress — sold out within two hours. Second edition printed on demand.

 

1926
Anandabazar Patrika kicks off its first Puja special issue, Sharadiya shankhya.

 

The Telegraph won the coveted SNAP certificate in 2003 for printing excellence. Soon after, both The Telegraph and Anandabazar Patrika won the SNAP certificate in the year 2005. The mission of the Specifications for Newsprint Advertising Production (SNAP) committee is to develop and communicate specifications to improve coldset reproduction quality. These specifications are for advertisers, agencies and publishers, customers as well as for prepress, materials, newspapers and printers to help make the coldset industry competitive in world markets.

 

ABP became the first non-US Company to win two top awards, SNAP and IFRA, for printing excellence.

 

The Telegraph in Schools was awarded the prestigious World Young Reader Prize by the World Association of Newspapers (WAN) in 2004.

 

WAN awards the World Young Reader Prize annually to any newspaper or newspapers that devise the most innovative educational projects or activity that helps develop young readership.

 

The Telegraph was the first Indian newspaper to be awarded membership to the prestigious IFRA - International Newspaper Colour Quality Club (INCQC) for excellence in colour printing for the year 2004-2006. ABP achieved the feat again by being awarded membership for 2006-2008 for both Anandabazar Patrika and The Telegraph.

 

OTHER INFORMATION:

 

It sells its products in the Open Market also.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                  None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.39.81

UK Pound

1

Rs.80.03

Euro

1

Rs.56.02

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

68

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions