MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAHARA ONE MEDIA AND ENTERTAINMENT LIMITED |
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Registered Office : |
Sahara India Point CTS 40-44, S V Road Goregaon (West),
Mumbai - 400104, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.08.1981 |
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Com. Reg. No.: |
11-24947 |
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CIN No.: [Company
Identification No.] |
L67120MH1981PLC024947 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS37736G |
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PAN No.: [Permanent
Account No.] |
AAACP3047R |
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Legal Form : |
Public Limited Liability Company. The company shares are listed on
stock exchanges. |
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Line of Business : |
The company is engaged in entertainment industry. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 10951800 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part
of Sahara Group controlled and managed by Mr. Subralo Roy well connected with
politicians. It is said that
Sahara is funded by some well – known politicians of Uttar Pradesh. Although
the Sahara Group is not faring well, subject has reported satisfactory
results. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Sahara India Point CTS 40-44, S V Road Goregaon (West),
Mumbai - 400104, Maharashtra, India |
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E-Mail : |
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Website : |
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Branches 1 : |
Sahara India Bhawan, I Kapoorthala Complex, Lucknow -226 024, India |
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Branches 2 : |
Sahara India Complex, C -2, C -3 and C -4, Sector XI, Noida -201301 ,
Uttar Pradesh, India |
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Branches 3 : |
Sahara One towers, 2nd Floor, Kamla Mills Compound, Lower
Parel, Mumbai – 400 013, Maharashtra, India |
DIRECTORS
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Name : |
Mr. Subrata Roy Sahara |
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Designation : |
Chairman |
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Name : |
Mrs. Swapna Roy |
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Designation : |
Director |
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Name : |
Mr. Amar Singh |
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Designation : |
Director |
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Name : |
Mrs. Jaya Bachchan |
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Designation : |
Director |
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Name : |
Mr. O P Srivastava |
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Designation : |
Director |
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Name : |
Mr. J B Roy |
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Designation : |
Director |
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Name : |
Mr. Mahesh Prasad |
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Designation : |
Director |
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Name : |
Mr. V B Chandra |
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Designation : |
Whole-time Director |
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Name : |
Mr. B Sahay |
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Designation : |
Director |
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Name : |
Mr. Ranvir Singh Rathore |
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Designation : |
Director |
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Name : |
Mr. Harindra Singh |
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Designation : |
Director |
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Name : |
Mr. Rathikant Basu |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Bimal Kishore Nanda |
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Designation : |
Company Secretary
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 31.12.2007) |
No. of Shares |
Percentage of
Holding |
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Shareholding of
promoter and promoter Group |
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Individual / Hindu Undivided Family |
8375000 |
38.91% |
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Bodies corporate |
8202030 |
38.10% |
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Non Institutions
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Bodies corporate |
4793027 |
22.27% |
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Individual |
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Individual shareholders holding nominal share capital up to Rs. 0.100
million |
138726 |
0.64% |
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Individual shareholders holding nominal share capital in excess of Rs.
0.100 million |
14000 |
0.07% |
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Any other (Clearing Members) |
493 |
0.00% |
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Any other (NRI) |
1724 |
0.01% |
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Total
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21525000 |
100.00% |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in entertainment industry. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
300 |
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Bankers : |
· The Bank of Rajasthan Limited · HDFC Bank Limited |
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Banking Relations
: |
Good |
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Auditors : |
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Name 1 : |
M/s R Batliboi and Associates Chartered Accountants |
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Name 2 : |
D S Shukla and Company Chartered Accountants |
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Internal
Auditors : |
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Name : |
M/s Chaturvedi and Company Chartered Accountants |
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Associates/Subsidiaries : |
· Sahara India Commercial Corporation Limited · Sahara India Entertainment Management Company limited · Sahara Hospitality Limited · Sahara Airlines Limited · Sahara India Commercial Corporation (Overseas) Limited, Mauritius |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs. 10/- each |
Rs.350.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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21525000 |
Equity Shares |
Rs. 10/-
each |
Rs.215.250
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
215.250 |
183.000 |
172.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2522.700 |
1324.788 |
885.100 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2737.950 |
1507.788 |
1057.100 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
1.478 |
0.000 |
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TOTAL |
2737.950 |
1509.266 |
1057.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
38.489 |
39.399 |
8.500 |
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Capital work-in-progress |
0.000 |
9.837 |
41.400 |
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INVESTMENT |
56.024 |
189.649 |
142.900 |
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DEFERREX TAX ASSETS |
7.188 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
553.862
|
701.281 |
511.700
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Sundry Debtors |
956.585
|
11.571 |
11.600
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Cash & Bank Balances |
197.113
|
233.964 |
13.800
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Other Current Assets |
2.500
|
2.534 |
0.000
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Loans & Advances |
1347.049
|
950.743 |
1121.400
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Total
Current Assets |
3057.109
|
1900.093 |
1658.500 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
410.590
|
630.095 |
754.900
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Provisions |
10.557
|
0.186 |
40.200
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Total
Current Liabilities |
421.147
|
630.281 |
795.100 |
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Net Current Assets |
2635.962
|
1269.812 |
863.400
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MISCELLANEOUS EXPENSES |
0.287 |
0.569 |
0.900 |
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TOTAL |
2737.950 |
1509.266 |
1057.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
1915.441 |
2044.605 |
1685.500 |
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Other Income |
87.385 |
75.935 |
0.000 |
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Total Income |
2002.826 |
2120.540 |
1685.500 |
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Profit/(Loss) Before Tax |
78.727 |
85.283 |
110.900 |
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Provision for Taxation |
47.054 |
6.595 |
45.900 |
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Profit/(Loss) After Tax |
31.673 |
78.688 |
65.000 |
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Export Value |
27.126 |
9.422 |
NA |
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Expenditures : |
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Administrative Expenses |
262.455 |
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Purchases made for re-sale |
1488.940 |
1918.297 |
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Increase/(Decrease) in Finished Goods |
147.417 |
[189.544] |
1573.500 |
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Interest |
5.972 |
0.000 |
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Depreciation & Amortization |
19.312 |
10.834 |
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Total Expenditure |
1924.096 |
2035.257 |
1573.500 |
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QUARTERLY RESULTS
|
PARTICULARS |
30.06.2007 |
30.09.2007 |
31.12.2007 |
|
Type
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
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Sales Turnover |
316.100 |
588.900 |
552.700 |
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Other Income |
30.400 |
18.300 |
13.900 |
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Total Income |
346.500 |
607.200 |
566.600 |
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Total Expenditure |
322.600 |
580.700 |
546.600 |
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Operating Profit |
23.900 |
26.500 |
20.000 |
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Interest |
0.000 |
0.000 |
0.000 |
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Gross Profit |
23.900 |
26.500 |
20.000 |
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Depreciation |
6.100 |
6.100 |
0.600 |
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Tax |
7.600 |
8.900 |
7.000 |
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Reported PAT |
9.300 |
13.000 |
12.100 |
KEY RATIOS
|
Year |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity Ratio |
0.00 |
0.00 |
0.00 |
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Long Term Debt-Equity Ratio |
0.00 |
0.00 |
0.00 |
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Current Ratio |
4.72 |
2.49 |
1.94 |
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TURNOVER RATIOS |
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Fixed Assets |
31.10 |
65.11 |
258.81 |
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Inventory |
3.05 |
3.37 |
2.84 |
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Debtors |
3.95 |
176.26 |
21.50 |
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Interest Cover Ratio |
13.50 |
158.75 |
370.67 |
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Operating Profit Margin(%) |
5.38 |
3.63 |
5.31 |
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Profit Before Interest And Tax Margin(%) |
4.38 |
3.11 |
5.27 |
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Cash Profit Margin(%) |
2.60 |
3.36 |
3.12 |
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Adjusted Net Profit Margin(%) |
1.59 |
2.84 |
3.08 |
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Return On Capital Employed(%) |
3.94 |
4.95 |
10.86 |
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Return On Net Worth(%) |
1.44 |
4.52 |
6.34 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Sahara India Media Communications Limited, the flagship of
Subrato Roy promoted Shara India Pariwar is one of the leading media company in
India with active presence in family entertainment segment and News
segment.
SIMCL's Hindi satellite TV channel 'Sahara Manoranjan' provides wholesome
family entertainment by offering a variety mix of programming that includes
soaps, serials, mini-series, blockbuster movies, mega events and other
interesting programmes. Sahara Manoranjan is an free to air channel apart from
being a channel that gives 24 hrs programming in digital mode.
Sahara Samay under this name it telecasts one 24 hrs free to air digital Hindi
news channel and 31 round-the-cloct city centric regional satellite news
channels using world's most advanced, Asia's largest and India's first fully -
automated electronic new production and stat-of-the art transmission
This year total
income for the Company was Rs. 2002.83 million whereas total expenses were Rs.
1924.100 million. Last year total income for the Company was Rs. 2120.54
million and total expenses were Rs. 2035.26 million. This year's income is
short by Rs. 117.71 million in comparison to the last year income and this
year's expenses are also less by Rs. 111.16 million in comparison to the last
year expenses. The decrease in sales is mainly because of Company releasing
less number of movies during the year in comparison to the last year. This
years Profit Before Tax (PBT) is Rs.78.73 million as compare to Rs. 85.28
million of last year. Profit After Tax and Extraordinary items has decreased
from Rs. 72.27 million in the previous year to Rs. 30.46 million in the current
year. This is mainly because of the provision for taxation for earlier year and
tax for current year.
KEY DEVELOPMENTS
Last year the
Company had entered into an agreement for procuring advertisements for Aastha
and Aastha International channels. The said arrangement has ended in November
2006.
This year also the Company has exploited its library of television programming
and movies to broadcasters in India and overseas. The Company has earned
substantial revenues during the Financial Year ended on 31st March 2007 by
licensing television software to broadcasters across the world.
SAHARA ONE TELEVISION
The year was
successful year for Sahara One. This year few new shows were launched on the
channel which have taken the channel to new height. Content is king for any
channel and the Company believes in providing clean entertaining content for
its viewers. Some of the new shows which were launched and have successful
journey are given below:
Woh Rehne Waali Mehlon Ki: This is the story of Rani, a young, beautiful and
delicate girl, brought up like a princess. Fate takes her through a different
journey in life. She gets married into a middle class family and has to adopt
to doing her own housework. She becomes a woman of substance in the right
sense.
Solhah Singarr: A story of traditions, values and regressions where a girl,
Meera raises her voice and proves that even females have right to live a normal
life even when widowed. Harshvardhan Bhardwaj is the head of a highly respected
and conservative family in Banaras, after his death Ammaji, his wife is the
keystone of the family. After Kumarvardhan shocking demise, Alaknanda, his wife
is left to live a widowed colorless life. Meera is not happy with her mother's
new role as a widow and sets out to find her mother's old love-Shantanu. Two
love stories in the same family running on parallel ground. The daughter is
instrumental in bringing her mother's lifelong love story to a happy ending.
Even as she undergoes the dramatic twists and turns of fate. A daughter's
unwavering journey to get her widowed mother remarried amidst conflicting
beliefs...
Kuch Apne Kuch Paraye: Vijaypath Raichand has had all the riches he ever
wanted, but what he never had was a Family. He has six children five boys and
one girl, but he never had a Family that loved and lived together. As Vijaypath
has very few days left in his life he makes a last bid to get his family
together and his daughter-in-law Krishna is his only support.
Doli Saja Ke: Doli Saja Ke, a story of a girl, who is considered manhoos'
without any fault of hers. It is a story of a young girl Anupama whose birth
coincides with the death of her mother. This leads to her father developing a
love hate relationship with his daughter. She grows up with the kalank of being
a 'Manhoos'. One fine day a young-man comes into her life and dispels all such
false notions and manages to re-bond the scarred father's daughter relationship
It is a story of her struggle to win her father's love and fight with the tag
of 'manhoos'.
Comedy Champions: As they say Laughter is the best medicine. This is a show
where the comedy champions who have proven their mantle come together to create
a laugh riot. A show, where each comedian gives his unique dose of laughter to
create a feast of a show called 'Comedy Champions'.
Ghar - Ek Sapna: It is a different story set in rustic Bihar as the backdrop as
their main protagonist - Kakul hails from there. It is a story of her struggle
to keep her love alive and adjust to the city life. There was a time and not
too long ago, when Amar Nath Divecha's house was throbbing with life. He and
his wife Uttara lived their lives like a blessing with six of their children.
Things change dramatically, when their second son Samman reaches Bihar to
attend a friend's marriage. Though already in love with his childhood
sweetheart Vanshika, whom his family also approves of, he commits a grave folly
when mesmerized by a local girl, he gets into a one night stand with her at
Rajgir. Next day all hell breaks loose when girl's father kidnaps him and
marries him forcefully to his daughter. Slowly but surely this Ghar' would be
divided into many houses. It's like a family photograph torn into six pieces.
Ghar' traces joys and sorrows of a divided house. Their triumphs and failures.
And when it completes its journey, it tells us that an Indian family is all
about sharing. Whatever may come, an Indian family cannot be defeated when they
stand united.
Zaara: Zaara and Zeenat are sisters but not blood sisters. Zaara has sacrificed
a lot in her life (even her love for Samar) just so that her sister - Zeenat
lives an honourable life. Zaara agreed to get married to Zeenat's husband -
Amir and give her family the heir they wanted. Zeenat gets pregnant too but
delivers a baby-girl. Zaara knows that Zeenat will be devastated to know about
her incapability to give the Waaris' to the family and therefore decides to
exchange her own son with Zeenat's daughter, without any ones knowledge. This
ultimate sacrifice of Zaara goes unnoticed too. Will Zaara be a destiny's child
or will she always sacrifice her every dream??
Biggest Loser Jeeteyga: A high adrenalin reality show based on Weight Loss.
The Biggest Loser
(of weight) is the biggest winner of cash prize plus lots more (Health, Wealth
and a whole new Lifestyle). Overweight Celebrity contestants and audition
winners compete amongst each other to be the Biggest Loser. The contestants
live on an isolated ranch with no connection to the outside world (Aamby
Valley). Trained by well known trainers, they undergo rigorous physical
routines and strict diet control to lose weight.
The routine will be
peppered with temptations and challenges with rewards and benefits. Every week
the contestants weigh in to find the biggest loser of the week. The Team /
Individuals that lose most weight wins and the losing team / individuals have
to vote one member out. The voting brings out drama and group dynamics as one
by one the contestants are eliminated until the last man standing is crowned
The Biggest Loser.
FILMY
FILMY, movie channel launched in February 2006, has been appreciated for
its original content and innovative movie presentation. In its first year,
FILMY offered its viewers a mix of big films and fun-filled programs. Some of
the hit films premiered on FILMY so far have been - No Entry, Hanuman, Malamaal
Weekly, Gangster, Khosla Ka Ghosla and Dor.
FILMY's anchors have been popular characters on television. Lallan and Rokkky
lead the FILMY gang of celebrities. The long list of actors who have worked
with FILMY includes Arshad Warsi, Chunkey Pandey, Ravi Kishan, Vinay Pathak,
Suresh Menon, Sunil Grover, Raju Srivastav, Sunil Pal, Sweta Salve, Shibani
Kashyap, Gaurav Gera, Shruti Seth and many more.
The channel boasts of successful properties like FILMY Stock Exchange, FILMY
Hot Break, Rokkky's 99, Aaj Ki FILMY Khabar, Short Films on FILMY, FILMY
Flashback and, last but not the least, the recent superhit Kaun Banega
Champu.
In its second year, FILMY is set to scale new frontiers with bigger films and
programs. The channel's movie plan in Year 2 includes big titles like Guru,
Umrao Jaan and Nishabd. FILMY is also set to launch Bathroom Singer, a reality
show with a difference.
MANAGEMENT DISCUSSION AND ANALYSIS
REPORT
INDUSTRY STRUCTURE AND DEVELOPMENT:
a) TELEVISION:
Over the next five years,
the growth of India's Television industry will be propelled by the economic
growth of the country, which will drive the revenues of all of its key
constituents i.e. advertising revenues, subscription revenues as well as the
television software revenues.
Today, India represents the fifth largest market for colour television in the
world, growing at an average rate of 10-12% a year. India has approx 200
million households but television reaches only about 112 million homes having
grown over 3.2% over the previous year. Projected size of television households
will be about 130 million by 2011, a cumulative growth of 3% over the next five
years.
Of the approx. 112 million television households, there are an estimated 70
million pay TV households in India. Of these, 68 million are cable households
as per the data released by NRS 2006 and estimated 2 million Direct-to-Home
(DTH) households. This translates into a penetration about 56%. The cable
households are expected to grow about 4-5% per annum over the next five years
where as DTH households are expected to grow by 43% albeit from lower
base.
The television
industry today is estimated to be Rs. 191 billion of which the largest chunk
continues to be the television distribution segment. The Indian television
industry is projected to grow at annual compounded rate of 22% per annum over
the next five years to reach the estimated size of Rs. 519 billion, nearly
three times its present size.
Subscription revenues are to be the key growth driver for the Indian television
industry over the next five years. Subscription revenues will increase both
from number of pay TV homes as well as increased subscription rates.
New distribution platforms like DTH and IPTV will increase only the subscriber
base and push up the pay revenues. The TV distribution market is expected to
grow from the present size of Rs. 117 billion to Rs. 378 billion by 2011,
implying a 26% cumulative annual growth over next five years. Thus the
television subscription revenues are projected to rise by 26% compounded
annually over the next five years.
Television advertising is also expected to grow significantly over the next
five years. Economic growth is encouraging Indian companies to increase their
ad spends. This is benefiting the television broadcasting industry, since their
revenues are increasing, in spite of a stagnant share in overall ad pie. The TV
advertising market is expected to grow from 66 billion to 123 billion by 2011,
implying a 13% cumulative annual growth over the next five years. (Source
FICCI -Frames 2007)
b) MOTION PICTURE
Filmed Entertainment:
India produces the
largest number of films and has the largest numbers of admissions in the world.
The Indian film industry is witnessing marked improvements in all spheres-from
the technology used in making films, to internationally-appealing themes of
movies, digital exhibition, increase focus on marketing and transparent
distribution, finance and business environment. In 2006, the growing trend of
corporitisation of the industry along with the shift to digital cinema and
multiplexes gain further momentum making in an extremely great year for Indian
film industry.
Industry Size:
The key factors
impacting the filmed entertainment market in any given year are the quality of
releases and releases appeal to consumers- developments that cannot be
predicted. 2006 was an excellent year for the Indian box office. The top five
films alone grossed over Rs. 3 billion. This powered a total 21% growth in box
office revenues in 2006 taking the estimated size of the Indian domestic market
to Rs. 64 billion. This growth can also be attributed to the growing number of
multiplexes and digital cinemas in the country, the increasing corportisation
of the Indian film industry and the improvement in content for films. The
domestic box office market is expected to grow over at a CAGR of 13% and nearly
double its size to estimated Rs. 119 billion over the next five years. Overall,
the Indian film industry is expected to grow at a CAGR of 16% to Rs. 175
billion by 2011.
The Indian film industry's revenues continue to be dominated by the domestic
box office. In 2006, the domestic box office accounted for 76% of the total
revenues of the industry. It is expected that in the coming years, this dominance
will reduce slightly with other segments, particularly the Home Video segment,
contributing greater revenues to the Indian film industry.
In terms of the growth rates among the various segments, the Home Video market
shows the maximum potential. The market grew a whopping 63% from 2005 to touch
the Rs. 6.5 billion mark. This segment is expected to make a continually
increasing contribution to the total revenues earned by the Indian film
industry. It is expected to grow at a CAGR of 31% to Rs. 25 billion by
2011.
Foreign Films in India:
With changing
demographics of Indian society there is also a growing market for English Films
in India. In 2006, approx 74 foreign films were release in India which garned
share of Rs. 2.5 billion as box office collections, roughly 4% of the total box
office collections.
FUTURE OUTLOOK
TELEVISION:
CAS:
The introduction of CAS (Conditional Access System) effective January 1, 2007
can be deemed as most significant development of the Indian Television industry
not just in 2006 but in the last three years, CAS was launched in select areas
in 3 cities in India namely Delhi, Mumbai and Kolkata. Chennai was the only
city in India which had CAS prior to this.
CAS also brought
along with itself some key regulations and policies, of which the most highly
debated was the imposition of a price cap of Rs. 5 per channel per month by the
regulator TRAI. The same price of Rs. 5 was imposed for all channels
irrespective of the genre of the channel and which city the subscriber belonged
to. Further, no such price caps were imposed upon DTH services.
The regulator TRAI
has stated that CAS is schedule to be launched in other cities of India, but
only after careful study of the adoption trends of CAS in the notified areas
and readiness of MSOs and local cable operators for the rollout in the balance
areas.
DTH:
2006 was also the year of
the launch of the second private DTH player Tata-Sky, after Zee's Dish TV in
2003. Though the DTH services were launched in August 2006, the real impact of
the DTH was felt when introduction of CAS was announced. DTH services also
brought into effect the TRAI legislation of Interconnection', which mandated
that all channels must be provided by all players on all platforms at
comparable market rates.
Digitalisation of Television
Content:
With technological
advancements in existing distribution platforms as Digital CAS and DTH and
emergence of new digital platforms such as IPTV, Mobile TV, Home Video, Webcasting
etc., the opportunity for television content owners (Television Broadcasters
and others) lies in monetizing their library by distributing it on all these
platforms. However, the challenge that remains is that of digitizing content
such that not only can the existing library content be repurposed for
distribution but also reformatted to suit the typical needs of the relevant
distribution platform.
MOTION PICTURE
Growth of Multiplexes:
The increasing
corporitisation of the Indian film industry, entertainment tax sops offered by
several state governments, frantic pace of developments of retail malls that
have multiplexes as anchor tenants, improvements in projection and sound
technology resulting in the infrastructure of single-screens becoming outdated,
superior economics of multiplexes along with growing consumerism have all led
to a significant increase in number of multiplexes in India.
Growth in Home Video Market:
2006 saw a
tremendous surge in home theatre surround sound systems, plasma televisions due
to a boost in purchasing power, especially in the high-income groups. As a
result, there was a significant increase in demand for home video products like
DVDs and VCDs. The overall positive growth and trend of organization in India's
retail sector is another factor which contributed to boost in DVD sales.
Digital Cinemas:
Digital cinemas are
expected to change the face of the century-old cinema business just as internet
(e-mail) and mobile phones changed the face of communication; digital cameras
changed the face of imaging; satellite and cable television changed the face of
home entertainment; and MP3 changed the face of music. Digital cinemas envisage
providing a high definition cinematic experience using computer servers telecom
and satellite technology. Digital cinema help curb piracy as digital Prints are
less prone to illegal duplication and are also cheaper. Digital cinema has
lower cost per print. Further, if satellite delivery is adopted, it can
penetrate 100 cities and towns without any additional incremental costs. It
offers savings in handling and transportation and has a longer virtual shelf
life as physical prints wear out, thus helping film marketers factors in bigger
promotional budgets due to these reduce costs.
Use of Digital technology in film
making:
Cinema has
increasingly become technology-centric. Not only are computer graphics imaging
or 3D animation picking up, film content itself is going digital with more
graphics and visual effects. In 2006, there was an increased use of Digital
Intermediate (DI) technology in Indian films.
OPPORTUNITIES AND THREATS
DOWN-LINKING POLICY IMPLEMENTED
May 10, 2006 was the
deadline for the all foreign channels being up-linked from outside India and
beaming into India to register under down linking Policy with the Ministry of
Information and Broadcasting. This policy aims at controlling content being
transmitted through satellite either at the point if uplinking or
downlinking.
PROPOSED BROADCASTING BILL, 2006
One of the immediate
challenges that face the Indian Television industry is the back of a Converged'
Bill which addresses the distribution of television content over both the
broadcasting/cable medium and telecommunication channels.
IPTV
Followed by extensive trials, MTNL launched the first IPTV services in
Mumbai and Delhi in 2006. Though the current base of IPTV subscribers is
extremely low, the year marked a beginning of IPTV services in India.
OTHER
INFORMATION:
|
Contingent
Liabilities |
31.03.2007
(Rs. in
millions) |
|
Liability in terms of Corporate Guarantee provided against loan
sanctioned in favour of M/s. Sahara Hospitality Limited. Loan availed till 3
I -3-2007 amounts to Rs. 1768.700 millions 31-3-2006: Rs. 1017.300 millions). |
3000.000 |
|
Appeal filed in respect of disputed demands of Income Tax. |
32.319 |
FIXED
ASSETS:
· Office Building
· Residential Building
· Shooting Equipment
· Furniture and Fixtures
· Computer
· Plant and Machinery
· Temporary Structures
· Vehicle
AS PER WEBSITE
One of India’s largest entertainment conglomerates, the company operates
in the Motion Pictures and Television arena.
Sahara One Motion Pictures is one of India’s largest movie production houses
in the business of producing, marketing and distribution of motion pictures in
Hindi and other regional Indian languages. Having produced over 35 movies in
the last two years, the division is poised for rapid growth in the following
months.
The television business operates two television channels – Sahara One
Television which is a general entertainment channel and FILMY which is a Hindi
movie channel. Sahara One Television channel is associated with the top
production houses and offers its viewers a large number of popular fiction and
non-fiction shows.
The Hindi movie channel – FILMY was launched in February 2006 and has an
interesting, funny and irreverent presentation format. The channel has gained
immense popularity amongst viewers and advertisers alike.
PRESS RELEASES:
FILMY announces
its first reality show, Bathroom Singer From the confines of the bathroom to
the arc lights… fame, glory and a fortune of Rs. 2.500 millions await the
winner!
It’s a reality
singing show with a difference! FILMY, India’s youngest Hindi movie channel,
announced ‘Bathroom Singer’ – an extraordinary reality show about ordinary
people, and their journey to stardom. The show is a hunt for an untrained
singer who can capture the hearts of millions with the unique combination of
singing and the entertainment quotient or ‘jhaag’.
The reality show
will start with ground auditions in four cities - July 24 in Ahmedabad, July 28
in Delhi, Aug 1 in Kolkata and Aug 5 in Mumbai. A combination of jury and
viewer voting will then decide the winner, who will walk away with a handsome
cash prize of Rs. 2.500 millions. The program will go on air in August 2007.
Speaking on this
occasion, Shailesh Kapoor, Content & Marketing Head –
FILMY, remarked:
“Bathroom singer is a reality show for the common man. We are looking for a
unique combination of voice and ‘jhaag’. In other words, it’s a search for a
singing performer who can entertain the nation. We are not looking for a
classically trained singer or a youth icon, but a star of the masses.”
So, unlike other
music reality shows where there contestants above the age of 35 are not allowed
to take part, ‘Bathroom Singer’ is open to everyone with a voice and an
attitude that turns the bathroom into a stage, every morning!
Judging the
performances of the contestants will be an eclectic jury panel, the first half
of which is the Bhojpuri superstar and now a household name after his
stupendous popularity in ‘Bigg Boss’ – Ravi Kishan. Kishan’s mass appeal
and warm personality make him an ideal choice for the show.
The other half of
the jury panel is the very talented singer-cum-composer Shibani Kashyap.
This youth icon pop diva makes her television debut with ‘Bathroom Singer’,
a show that’s much like her – original, refreshing and lots of fun.
While Kashyap will
focus on the singing aspect of the contestant, Kishan will judge the ‘jhaag’ or
the entertainment quotient. Says Ravi Kishan: “I am very excited about
‘Bathroom Singer’. It’s a show about the ordinary person who has it in him/ her
to win a million hearts. The human connect of the show is unmistakable, and
that’s what I love the most about it.”
Shibani Kashyap
remarks: “Bathroom Singer is a refreshingly original concept as it breaks the monotony
of the traditional reality talent singing hunts in both its setting and the
kind of natural and spontaneous talent it will unveil. I can’t wait to begin
shooting for the show.”
Anchoring the show
is one of the funniest men on television today, the adorable Gaurav Gera,
on ‘Nandu’ from ‘Jassi Jaisi Koi Nahin’. Gera brings with him a childlike fun
element, and a boy-next-door personality that everyone can relate to. In the
show ‘Bathroom Singer’, his role will be of the contestants’ friend, philosopher
and guide.
Gera, a
self-professed Bathroom Singer himself, says: “The show will bring back fond
memories – I have lost count of the number of times I have floored myself with
my talent in my own bathroom mirror! I am sure there are hundreds and thousands
of aspirants waiting to be discovered. This show, much like FILMY, is going to
be a great celebration of very real but very ‘FILMY’ talent. I’m sure the
masses will love it!” So, get set to turn the bathroom into a stage. Because if
you have the ‘jhaag’, you can win fame, glory and fortune! For more details,
log on to www.bathroomsinger.in, the official Bathroom Singer website.
About FILMY
FILMY is a
digitally encrypted pay Hindi movie channel, which has redefined how cinema is
consumed on television. We deliver Bollywood blockbusters, spiced up with whole
loads of fun filled and irreverent original content. This unique movie
presentation format combined with FILMY's slick and new age packaging promises
to enthrall the viewers with a stress-free movie viewing experience. FILMY, is
a part of Sahara One Media And Entertainment Limited, which also includes
Sahara One Motion Pictures — India's largest player in the motion pictures
business – and Sahara One Television, the popular General Entertainment Channel
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.39.89 |
|
UK Pound |
1 |
Rs.79.65 |
|
Euro |
1 |
Rs.63.06 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
74 |
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 |
|