MIRA
INFORM REPORT
|
Report Date : |
24.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SHAF BROADCAST PRIVATE LIMITED |
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Registered
Office : |
R, 401, 4th Floor, Remi Biz Court, Shah Industrial Estate, Veera
Desai Road Andheri (W), Mumbai-400053, Maharashtra. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.03.1997 |
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Com. Reg. No.: |
11-106357 |
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CIN No.: [Company Identification
No.] |
U32201MH1997PTC106357 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS22352B |
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PAN No.: [Permanent Account No.] |
AABCS4102M |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Providing end-to-end solutions to Television Broadcasters,
Post-Production facilities and 2D / 3D animation production houses. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 380000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
R, 401, 4th floor, Remi Biz Court, Shah Industrial Estate, Andheri
(W), Mumbai-400053, Maharashtra, India |
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Tel. No.: |
91-22-66972999 |
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Fax No.: |
91-22-26732092 |
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E-Mail : |
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Website : |
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Branches : |
404B, 4th Floor
, Concourse, 7-1-58,
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DIRECTORS
As On : 30.09.2010
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Name : |
Mr. Pradeep Singh Kohil |
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Designation : |
Whole Time Director |
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Address : |
61, |
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Date of Birth/Age : |
30.05.1964 |
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Date of Appointment : |
06.03.1997 |
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DIN No : |
00158165 |
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Name : |
Mr. Aridam Mohanty |
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Designation : |
Whole Time Director |
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Address : |
201, Pinnaacle Apartments, Junction, of 33rd Road and
Ambedkar Road, Bandra (W), Mumbai-400050, Maharashtra, India |
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Date of Birth/Age : |
12.03.1971 |
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Date of Appointment : |
30.09.2002 |
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Name : |
Mr. Pagaku R. Suresh Setty |
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Designation : |
Whole Time Director |
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Address : |
4506, 1st Floor, DLF Phase-IV, Gurgaon-122002, |
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Date of Birth/Age : |
30.11.1966 |
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Date of Appointment : |
06.03.1997 |
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DIN No : |
01863817 |
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Name : |
Mr. Manish Aggarwal |
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Designation : |
Director |
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Address : |
201, Pinnaacle Apartments, Junction, of 33rd Road and
Ambedkar Road, Bandra (W), Mumbai-400050, Maharashtra, India |
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Date of Birth/Age : |
28.05.1974 |
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Date of Appointment : |
01.12.2007 |
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DIN No : |
01686652 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
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No. of Shares |
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Mr. Pradeep Singh Kohil |
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37125 |
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Mr. Pagaku R. Suresh Setty |
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30725 |
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Mrs. Reena Kohil |
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12375 |
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Ms. Shalini Shetty |
|
12375 |
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Mr. P. R. Prakash Shetty |
|
4000 |
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P. R. Mahalaxmi Shetty |
|
2400 |
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Mr. Sudip R. Gupta |
|
500 |
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Total |
|
99500 |
AS ON 30.09.2010
|
Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing end-to-end solutions to Television Broadcasters,
Post-Production facilities and 2D / 3D animation production houses. |
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Products : |
Computer hardware, software and Acessories |
GENERAL INFORMATION
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Bankers : |
Corporation Bank, 1st Floor, Earnest House, Nariman Point,
Mumbai-400021, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. S. Jhunjhunwala and Company Chartered Accountant |
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Address : |
306, Akruti Arcade, Opp Wadia School, J. P. School, J. P. Road,
Andheri (W), Mumbai-400053, Maharashtra, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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99500 |
Equity Shares |
Rs. 100/- each |
Rs. 9.950
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.950 |
9.900 |
9.900 |
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2] Share Application Money |
7.456 |
0.456 |
3.987 |
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3] Reserves & Surplus |
78.163 |
77.571 |
70.783 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
95.569 |
87.927 |
84.670 |
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LOAN FUNDS |
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1] Secured Loans |
36.682 |
24.514 |
40.269 |
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2] Unsecured Loans |
8.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
44.682 |
24.514 |
40.269 |
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DEFERRED TAX LIABILITIES |
3.355 |
4.194 |
4.549 |
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TOTAL |
143.606 |
116.635 |
129.488 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.181 |
30.641 |
33.222 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
14.123 |
14.123 |
14.123 |
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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 |
8.673
|
14.283 |
6.678 |
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Sundry Debtors |
53.775
|
40.814 |
85.895 |
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Cash & Bank Balances |
26.948
|
13.480 |
14.909 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
39.089
|
44.298 |
28.358 |
|
Total
Current Assets |
128.485 |
112.875 |
135.840 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
4.548
|
8.104 |
37.225 |
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Other Current Liabilities |
2.209
|
16.405 |
3.675 |
|
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Provisions |
17.428
|
16.508 |
12.821 |
|
Total
Current Liabilities |
24.185 |
41.017 |
53.721 |
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Net Current Assets |
104.300
|
71.858 |
82.119 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.013 |
0.024 |
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TOTAL |
143.606 |
116.635 |
129.488 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
NA |
322.546 |
286.604 |
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Other Income |
NA |
NA |
NA |
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TOTAL (A) |
NA |
NA |
NA |
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Less |
EXPENSES |
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Office Expenses |
NA |
NA |
NA |
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Administrative Expenses |
NA |
NA |
NA |
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Advertising Expenses |
NA |
NA |
NA |
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TOTAL (B) |
NA |
NA |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
NA |
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|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
NA |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
1.830 |
13.017 |
12.914 |
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Less |
TAX (H) |
1.500 |
NA |
5.712 |
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PROFIT AFTER TAX
(G-H) (I) |
0.330 |
NA |
7.202 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
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|
|
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Export Earnings |
10.997 |
99.116 |
NA |
|
|
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Commission Earnings |
1.700 |
6.718 |
7.257 |
|
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TOTAL EARNINGS |
12.697 |
105.834 |
7.257 |
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IMPORTS VALUE |
40.992 |
182.526 |
84.787 |
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Earnings Per
Share (Rs.) |
3.32 |
131.48 |
72.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.04 |
4.51 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.19
|
9.07 |
7.64 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.15 |
0.50 |
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|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.76
|
0.79 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.31
|
2.76 |
2.53 |
LOCAL AGENCY FURTHER INFORMATION
NOTE : Company Register
address has changed from 126, Gitanjali off J. P. Road, Seven Bunglow, Versova,
Andheri (W), Mumbai-400058, Maharashtra, India to the present address
FINANCIAL RESULTS:
The Company has
earned net Profit of Rs. 1.830 millions before tax on Gross transactions of Rs
24.322 millions during the year and after providing for the Income Tax of Rs.
1.500 million the balance is carried to Balance Sheet.
FORM 8
|
Corporate identity
number of the company |
U32201MH1997PTC106357 |
|
Name of the
company |
SHAF BROADCAST
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R, 401, 4th floor, Remi Biz Court, Shah Industrial Estate,
Andheri (W), Mumbai-400053, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others |
|
Particular of charge
holder |
Corporation Bank, 1st Floor, Earnest House, Nariman Point,
Mumbai-400021, |
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Nature of
instrument creating charge |
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Date of instrument
Creating the charge |
23.04.2008 |
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Amount secured by
the charge |
Rs.115.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cobra+1% i.e. 14%
p.a. at monthly rests, Commission at Bank prescribed rates and/or as
stipulated by bank from time to time. Terms of repayment As stipulated by
bank from time to time. Margin As stipulated by
bank from time to time. Extent and operation of the charge First charge
(present and future)= Total Limit Rs.115.000 millions 1. Overdraft = Rs.35.000 millions (sub
limit be = Rs.5.000 millions) 2. Import /
Inland L/C = Rs.40.000
millions 3. Bank
Guarantee = Rs.40.000
millions Total =
Rs. 115.000 millions Other As stipulated by
bank from time to time |
|
Short particulars
of the property charged (Including location of the property) |
First charge
(present and future)=
|
|
Charge
identification number of the charge to be modified |
90150549 |
|
Particulars of
the present modification |
By this
modification limit stands to rs.115.000 millions, continued security as given
by original charge as well as by modifications (1) Hypothecation
of stock in trade ,book debts and fixed current and movable assets ,goods
procured/to be procured under import l/c limits (2)EMG of office
no r-401 on the 4 th floor and c-404,on the 4 th fl. in the bld known as remi
biz court, off veera desai road, andheri-west, Mumbai |
Fixed Assets :
- Office
Premises
- Computers
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
- Mobile Phones
WEB SIDE DETAILS
PROFILE
Subject has been delivering pioneering solutions to the digital content creation
industry since 1993. Shaf currently has a nationwide network of sales and
support offices that provide Consultancy, Analysis, System Design, Project
Management and Planning, Visualization and Building design, Equipment sourcing
and performance testing, Integration and Software configuration, On-Site
Installation, Acceptance Testing, Technical Documentation, Commissioning and
Training to customers in various industry verticals encompassing Broadcast
Television Channels, Film and Video Post-Production Studios, Special Effects
and Animation Houses, Digital Intermediary Facilities and Education Institutes
representing a broad spectrum of media production facilities across India and
the SAARC region.
Their presence means that SHAF can offer a unique perspective and
understanding of the many challenges customers need to face when expanding
their facilities.
With this boom in the digital content creation industry, SHAF Broadcast through
its rich experience garnered from the past along with their loyal and large
customer base, has continued to grow exponentially from a company with a
turnover of 150.000 millions to over 500.000 millions in just 3 years. In doing
so, SHAF Broadcast has increased its market share of the media industry and
expanded its customer based through dedicated support systems and training.
Shaf is an international company well positioned to keep you at the cutting
edge of technology, at the right price, ensuring the transfer of the latest
technologies used anywhere in the world. Their custom designs and system
integration is tailored to fit exactly to the requirements and to equip your
organization for long term commercial success.
For Broadcast Television - Associated Press U.K for Newswire software and
systems, OMNIBUS Systems UK, for Newsroom Automation and Control systems,
DPS/Leitch Canada, manufactures components from frame synchronizers, routers,
clock generators and other signal processing systems, BARCONet Belgium, the
leader in high definition display and projection systems EVS Broadcast Belgium
the manufacturers of Slow-Motion recorders and Video Servers, NuComm US the
manufacturers of Short Haul, Long Haul, COFDM and MPEG2 based Microwave links,,
Accuweather US, for Real-Time Weather Graphics systems - to name a few, thus
enabling them to
Provide a vast array of cutting-edge solutions delivering them to the
marketplace, backed by a 24 Hour standby service whenever the customer demands
it.
Shaf Broadcast is the partner for DPS/Leitch Canada the manufacturers of DPS
Velocity NLE Systems, Eyeon Software Canada the developers of the Digital
Fusion compositing environment, SGI US for the fastest NT/UNIX workstations and
Servers in the world, Newtek US for 3D Animation products, SCALA, US the
computer television software manufacturer to name a few.
Shaf Broadcast delivers solutions ranging from 3D Animation, 2D Paint and Rot
scoping, Non-Linear Editing, Digital Compositing, Special FX Software, Audio
post-production, Fibre Channel Storage Networks, Net broadcasting and Streaming
solutions, Motion-Capture solutions, Slow Motion recorders, Virtual Set
technology, Play out Systems, News Room Solutions, Digital Asset Management
Systems etc.
The boom in the Terrestrial Broadcast and Satellite Television Industry can be
exacted by the frenzied activity by television broadcasters - converting their
transmission and production facilities into completely Digital studios. From
media acquisition, to logging and archiving, to building play lists and
ready-to-air content, the Studio Automation and News Room automation systems
form an integral part of their professional consultancy and services. From
media acquisition, to logging and archiving, to building play lists and
ready-to-air content, the Studio Automation and News Room automation systems form
an integral part of our professional consultancy and services.
Currently, a majority of National Broadcasters in
In the past, Shaf has executed a large project with Doordarshan to Automate and
improve efficiency by taking the DD Bharti and the DD World Channel - 24 Hours
from our servers. Shaf Broadcast has also integrated four Short Haul and two
Long Haul Microwave Links from Nucomm Inc., US, Nine MPEG2 servers for play out
from EVS Broadcast,
Shaf has remained committed to educating and spreading awareness in Digital
Content Creation among its customers and people in the Broadcast Video and Film
Industry. Kindly find enclosed a list of some of theri customers in
NEWS
DD, Nokia to start
mobile TV pilot
Economic Times
19-March 07
CHENNAI: Public broadcaster Prasar Bharti and world's largest mobile phone
maker Nokia are all set to start a mobile TV pilot project in metro cities,
which will enable cellular phone users watch Doordarshan channels on their
handsets.
Nokia
During the pilot
phase, Doordarshan will test the reception quality of the broadcast coverage.
Attendant things like a revenue structure or advertising opportunities will
come later. It will also help Nokia and Doordarshan gauge the acceptability.
DD is doing the
deliberations and the pilot for the mobile TV will start soon in the metros.
Extensive planned commercial launch will take some time, Vineet Taneja, multimedia
business director of Nokia
Nokia's N92 series
of handsets are capable of catching television signals". Nokia officials
said it is for Doordarshan, which has put up a mobile television platform to
set a time frame about commercial launch of their TV on
Analysts said it
remains to be seen how revenue models are worked out, he says.
Adoption of mobile
TV will ultimately give way to a more personal and private TV experience than
that of traditional broadcast TV, with big implications for users, content
providers and advertisers.
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.45.70 |
|
|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.61.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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.