MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEDIA STAR PRIVATE LIMITED |
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Registered Office : |
7, Vaswani Mansion, 120 Dinshaw Vachh, Churchgate, Mumbai – 400 020, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
03.07.2001 |
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Com. Reg. No.: |
11-132605 |
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CIN No.: [Company
Identification No.] |
U74300MH2001PTC132605 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM14860G |
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PAN No.: [Permanent
Account No.] |
AACCM6104G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor of publications and magazines such as
Financial Times, Germany; FAZ, Germany; Forbes, The Banker and Euro Business. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 48000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company in it’s field. The
company has been successful in wiping-off all its previous losses during
2006-07. Trade relations are fair. Business is active. Payments are reported
as usually made as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
7, Vaswani Mansion, 120 Dinshaw Vachh, Churchgate, Mumbai – 400 020,
Maharashtra, India |
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Tel. No.: |
91-22-22815538 |
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E-Mail : |
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Branches : |
Located At: Ahmedabad, Pune, Goa, Delhi, Ludhiana, Chandigarh, Jaipur, Indore, Chennai, Bangalore, Cochin, Hyderabad and Kolkata 18, Vaswani Mansion, 3rd Floor, Opp. K. C. College, 120, Dinsha Wachha Road, Churchgate, Mumbai - 400 020 Tel. No: 91-22-22815540 / 38 / 39 Fax No: 91-22-22875530 E-Mail : subscriptions@mediastar.co.in |
DIRECTORS
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Name : |
Mr. Ravi Bhagchand
Lalwani |
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Designation : |
Managing
Director |
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Address : |
3, Hampton Court, 2nd Floor, Wodhouse Road,
Colaba, Mumbai - 400 005, Maharashtra, India. |
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Date of Birth/Age : |
27.05.1955 |
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Qualification : |
Chartered
Accountants |
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Date of Appointment : |
03.07.2001 |
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Name : |
Mrs.
Meena Ravi Lalwani |
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Designation : |
Director |
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Address : |
3, Hampton Court, 2nd Floor, Wodhouse Road,
Colaba, Mumbai - 400 005, Maharashtra, India. |
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Date of Birth/Age : |
30.09.1959 |
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Qualification : |
B. Com |
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Date of Appointment : |
03.07.2001 |
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Name : |
Mrs.
Gangu Nenumal Batra |
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Designation : |
Director |
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Address : |
P.O.Box
1545, Dubai, UAE |
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Date of Birth/Age : |
19.05.1930 |
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Date of Appointment : |
26.03.2003 |
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Name : |
Mr. Tony
Nariandas Jashanmal |
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Designation : |
Dorector |
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Address : |
P.O.Box
5138, Dubai, UAE |
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Date of Birth/Age : |
26.07.1947 |
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Date of Appointment : |
26.03.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As On 30.09.2006)
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Names of Shareholders |
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No. of Shares |
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Jashanmal
National Company LLC, (UAE) |
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494700 |
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Mr. Ravi
B. Lalwani |
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292100 |
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Mrs.
Meena R. Lalwani |
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183200 |
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Total |
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970000 |
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Foreign holding (Foreign institutional
investors, Foreign companies, Foreign financial institutions, Non-resident
indians or Overseas corporate bodies or Others) |
51.00 |
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Directors or relatives of directors |
49.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor of publications and magazines such as
Financial Times, Germany; FAZ, Germany; Forbes, The Banker and Euro Business. |
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Product : |
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GENERAL
INFORMATION
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No. of Employees : |
22 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Hiten Shah and
Company Chartered
Accountant |
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Address : |
806,
Empire Mahal, Khodadad Circle, Dadar, Mumbai -400 014, Maharashtra, India |
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Name : |
RSM and
Company Chartered
Accountant |
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Address : |
Ambit RSM
House, 449, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra,
India |
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Associates/Subsidiaries : |
Jashanmal
National Company LLC Activity:
Importers and distributors of international press in the Middle East. |
CAPITAL STRUCTURE
(As On 14.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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970000 |
Equity Shares |
Rs.10/- each |
Rs.9.700
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 |
9.700 |
9.853 |
9.853 |
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2] Share Application Money |
0.153 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.613 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.146) |
(0.825) |
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NETWORTH |
12.466 |
9.707 |
9.028 |
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LOAN FUNDS |
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1] Secured Loans |
0.623 |
1.092 |
0.000 |
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2] Unsecured Loans |
31.851 |
23.759 |
7.894 |
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TOTAL BORROWING |
32.474 |
24.851 |
7.894 |
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DEFERRED TAX LIABILITIES |
0.152 |
0.088 |
0.000 |
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TOTAL |
45.092 |
34.646 |
16.922 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.155 |
3.588 |
1.464 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
42.790
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24.647 |
18.677 |
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Sundry Debtors |
80.470
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50.692 |
40.931 |
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Cash & Bank Balances |
10.342
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2.313 |
1.634 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.884
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3.656 |
1.837 |
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Total
Current Assets |
136.486
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81.308 |
63.079 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
93.273
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48.284 |
47.382 |
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Provisions |
1.276
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1.966 |
0.320 |
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Total
Current Liabilities |
94.549
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50.250 |
47.702 |
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Net Current Assets |
41.937
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31.058 |
15.377 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.081 |
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TOTAL |
45.092 |
34.646 |
16.923 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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112.918 |
87.227 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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112.918 |
87.227 |
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Profit/(Loss) Before Tax |
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4.492 |
1.987 |
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Provision for Taxation |
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1.734 |
1.308 |
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Profit/(Loss) After Tax |
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2.758 |
0.679 |
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Expenditures : |
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Other Expenditure |
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108.426 |
85.240 |
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Total Expenditure |
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108.426 |
85.240 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.44
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0.77 |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
3.97
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2.27 |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.21
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2.34 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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0.36
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0.20 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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10.18
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7.73 |
6.15 |
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Current Ratio (Current Asset/Current Liability) |
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1.44
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1.61 |
1.32 |
LOCAL AGENCY
FURTHER INFORMATION
Operations and Out
Look
During the year the company has produced excellent results. While the sales
turn over, including other income has gone up from Rs.87.227 Millions in the
previous year to Rs.112.918 Millions for the year, the profit after tax has
increased from Rs.0.679 Millions in the previous year to Rs.2.748 Millions. The
Directors are confident of producing still better results in the current year.
Fixed Assets
- Office
Equipment
- Computers
- Furniture and
Fixtures
- Vehicles
Associates
- Jashanmal National Comapany LLC
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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