MIRA INFORM REPORT
|
Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRITHVI PRAKASHAN PRIVATE LIMITED |
|
|
|
|
Registered Office : |
126, ‘B’ Wing, Mittal Tower, Nariman Point, Mumbai – 400 021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
20.02.1985 |
|
|
|
|
Com. Reg. No.: |
11-35425 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U22120MH1985PTC035425 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NSKP02059B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACP5814A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Printing and Publishing of Newspapers. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having moderate track. There
appears huge dip in the networth of the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. The Profit and Loss of the company is not available |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DENIED BY
|
Name : |
Mr. Devender Dadra |
|
Designation : |
Director |
|
Date : |
16.04.2011 |
LOCATIONS
|
Registered Office : |
126, ‘B’ Wing, Mittal Tower, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22855961 / 22856749 / 22856750 |
|
Fax No.: |
91-22-22028211 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
413, 415 Bussa, Industrial Estate, Century |
|
Tel No : |
91-22-22421501 |
|
Fax No : |
91-22-22421502 |
|
|
|
|
Head Office : |
Lokmat Bhavan, |
|
Tel No : |
91-240-2486601/ 2485301-04 |
|
Fax No : |
91-240-2484130 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at:
|
DIRECTORS
As On 29.09.2010
|
Name : |
Mr. Vijay Jawaharlal Darda |
|
Designation : |
Director |
|
Address : |
Rahate Colony, |
|
Date of Birth/Age : |
14.05.1950 |
|
Date of Appointment : |
20.02.1985 |
|
DIN No.: |
00009902 |
|
PAN No.: |
AAAPD9500A |
|
|
|
|
Name : |
Mr. Balaji Annarao Muley |
|
Designation : |
Director |
|
Address : |
229, Nandanvan Colony, Near Cantonment, |
|
Date of Birth/Age : |
01.01.1962 |
|
Date of Appointment : |
07.10.1996 |
|
DIN No.: |
00085400 |
|
PAN No.: |
ABVPM7482N |
|
|
|
|
Name : |
Mr. Rishi ajendra Darda |
|
Designation : |
Director |
|
Address : |
Lokmat Bhavan, |
|
Date of Birth/Age : |
15.12.1978 |
|
Date of Appointment : |
21.07.1997 |
|
DIN No.: |
00293183 |
|
PAN No.: |
AAKPD2934Q |
|
|
|
|
Name : |
Mr. Devendra Vijay Darda |
|
Designation : |
Director |
|
Address : |
Rahate Colony, |
|
Date of Birth/Age : |
23.11.1974 |
|
Date of Appointment : |
18.06.2002 |
|
DIN No.: |
00319192 |
|
PAN No.: |
AAAPD9501B |
|
|
|
|
Name : |
Mr. Karan Rajendra Darda |
|
Designation : |
Director |
|
Address : |
Lokmat Bhavan, |
|
Date of Birth/Age : |
25.05.1983 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
01211502 |
|
PAN No.: |
AGKPD4240R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rishi R. Dadra |
|
1 |
|
Airwave Entertainment Private Limited – |
|
9542 |
|
Total |
|
9543 |
As On 29.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Printing and Publishing of Newspapers. |
|
|
|
PRODUCTION STATUS (As on 31.03.2009)
|
Particulars |
|
|
News
Paper |
Wind
Mill |
|
Licensed Capacity |
|
|
Not Applicable |
1400 Kw |
|
Installed Capacity |
|
|
Not Applicable |
1400 Kw |
|
Particulars |
|
|
No. of Pages |
Units
|
|
Production/ Generation |
|
|
4586105500 |
2112513 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
1500 (approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. C. Chandiwal and Company Chartered Accountants |
|
Address : |
1, “Konark Villa, “ Near Yash Medical, Osmanpura Corner, |
|
Tel. No.: |
91-240-2339256 |
|
Mobile No.: |
91-9822719779 |
|
E-Mail : |
|
|
Pan No.: |
AAYPC7235M |
|
|
|
|
Holding Company : (As on 31.03.2009) |
|
|
|
|
|
Associates : (As on 31.03.2009) |
|
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13000 |
Equity Shares |
Rs.1000/- each |
Rs.13.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9543 |
Equity Shares |
Rs.1000/- each |
Rs.9.543 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009
(Consolidated) |
31.03.2008 (Consolidated) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.543 |
9.543 |
9.543 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.410 |
534.839 |
414.864 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.953 |
544.382 |
424.407 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.431 |
292.774 |
371.133 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
93.341 |
|
|
TOTAL BORROWING |
29.384 |
292.774 |
464.474 |
|
|
DEFERRED TAX LIABILITIES |
11.810 |
82.295 |
69.492 |
|
|
|
|
|
|
|
|
TOTAL |
41.194 |
919.451 |
958.373 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
36.755 |
642.807 |
629.763 |
|
|
Capital work-in-progress |
0.000 |
16.915 |
37.360 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
80.274 |
1.719 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
103.288 |
125.483 |
|
|
Sundry Debtors |
1.353 |
127.775 |
125.146 |
|
|
Cash & Bank Balances |
2.613 |
97.608 |
80.160 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1.764 |
369.406 |
397.827 |
|
Total
Current Assets |
5.730 |
698.077 |
728.616 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.096 |
144.316 |
126.673 |
|
|
Other Current Liabilities |
0.000 |
43.912 |
40.824 |
|
|
Provisions |
1.200 |
330.406 |
271.606 |
|
Total
Current Liabilities |
1.296 |
518.634 |
439.103 |
|
|
Net Current Assets |
4.434 |
179.443 |
289.513 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.005 |
0.012 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
41.194 |
919.451 |
958.373 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009
(Consolid- ated) |
31.03.2008 (Consolid- ated) |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
450.259 |
351.853 |
|
|
|
Advertisement Revenue |
|
956.565 |
823.801 |
|
|
|
Other Income |
|
46.019 |
134.662 |
|
|
|
TOTAL (A) |
|
1452.843 |
1310.316 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
News Print Consumption |
|
642.659 |
553.970 |
|
|
|
Work and Operative Expenses |
|
183.532 |
144.592 |
|
|
|
Staff Remuneration |
|
110.628 |
90.316 |
|
|
|
Administrative Expenses |
|
80.277 |
72.110 |
|
|
|
Selling and Distribution Expenses |
|
78.327 |
69.476 |
|
|
|
Other Expenditure |
|
76.366 |
41.982 |
|
|
|
TOTAL (B) |
|
1171.789 |
972.446 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
281.054 |
337.870 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
46.279 |
24.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
234.775 |
313.635 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
39.686 |
28.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
195.089 |
285.015 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
74.114 |
91.102 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
120.975 |
193.913 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
362.159 |
384.309 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
1.500 |
19.392 |
|
|
|
Proposed / Interim Dividend |
|
0.000 |
168.102 |
|
|
|
Distribution Tax on Dividend |
|
0.000 |
28.569 |
|
|
BALANCE CARRIED
TO THE B/S |
|
481.634 |
362.159 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
103.778 |
106.974 |
|
|
|
Films, Stores & Spares |
|
2.359 |
0.283 |
|
|
|
Fixed Assets |
|
0.000 |
5.499 |
|
|
TOTAL IMPORTS |
NA |
106.137 |
112.756 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
12676.83 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009
(Consolidated) |
31.03.2008 (Consolidated) |
|
PAT / Total Income |
(%) |
NA
|
8.33
|
14.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
13.43
|
81.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
14.55
|
20.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.36
|
0.67 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.10
|
1.49
|
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.42
|
1.35
|
1.66 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
Rs. In Millions
|
Particulars |
31.03.2010 |
31.03.2009
(Consolidated) |
31.03.2008 (Consolidated) |
|
Sundry Creditors |
0.096 |
144.316 |
126.673 |
Form 8:
|
Corporate
identity number of the company |
U22120MH1985PTC035425 |
|
Name of the
company |
PRITHVI PRAKASHAN PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
126, ‘B’ Wing, Mittal Tower, Nariman Point, Mumbai – 400 021, E-Mail: sharadgawade@ymail.com |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property Any interest in
immovable property |
|
Particular of
charge holder |
Bank of E-Mail: boiaur@sancharnet.in |
|
Nature of
description of the instrument creating or modifying the charge |
No agreement is
executed. Sanction credit
limit - Rs. 47.100 millions - closure thereof |
|
Date of
instrument Creating the charge |
09.03.2011 |
|
Amount secured by
the charge |
Rs.56.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
interest @ 0% pa over PLR minimum @
12% pa Term loan for
wind mill project @ BOIPLR presently @ 12.5 % pa QWR Terms of
Repayment: repayable in 32 quartely installments of Rs. 1.472 millions Margin: 25 % of cost of plant and machinery Extent and
Operation of the charge: the charge will be operative till the total loan
amount along with interest, commission, expenses, charges are repaid by the
company. |
|
Short particulars
of the property charged |
All Tangiable
Movable Assets Of The Company/ Properties Of Whatsoever Nature Such As Newspaper
Stocks, Other Raw Materials And Stores Stocks, Furniture And Fixtures,
Computer Etc Lying At Various
Printing Centres Such As Lying At Various
Printing Centres Such As Gut No 71/1 And
71/2 Having Old Survey No. 216 Admn 0h - 70r, Gut No. 74 Admn 1 H 22 R, Gut
No. 74 Admn 3 H 36 R |
|
Date of latest
modification prior to the present modification |
12.09.2002 |
|
Particulars of the
present modification |
The Existing Loan
Of Rs. 103.600 millions is Now Modified / Reduced By Rs. 47.100 I.E. Now The
Loan Amount Stands To Rs. 56.500 millions |
FIXED
ASSETS:
·
Land
·
Land (W-mill)
·
Land at Shendra
·
Land at MAHAPE
·
·
·
Plant and Machinery
·
Elect Installation
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Computers
·
Machine on Lease
·
Windmill
·
Capital WIP
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.52 |
|
|
1 |
Rs.72.72 |
|
Euro |
1 |
Rs.64.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.