MIRA
INFORM REPORT
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Report Date : |
31.01.2011 |
NOTE : The correct name of the company is “BALAJI STUDIOS PRIVATE LIMITED”
IDENTIFICATION DETAILS
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Name : |
BALAJI STUDIOS PRIVATE LIMITED |
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Formerly Known As : |
BALAJI PHOTO FILMS |
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Registered Office : |
Bharani Studio Compound, 22, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
27.01.2008 |
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Com. Reg. No.: |
18-066149 |
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CIN No.: [Company Identification No.] |
U92100TN2008PTC066149 |
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IEC No.: |
0499002440 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEBO4925E |
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PAN No.: [Permanent
Account No.] |
AADFB6909L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of a Cinema Sound Negative |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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 29000 |
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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 established company having satisfactory track. Trade
relations are fair. Business is active. Payments are reported as usually
correct and as per commitments. The company can be considered for normal 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
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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 |
INFORMATION PARTED BY
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Name : |
Mr. N. Sridhar |
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Designation : |
Accounts |
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Contact No.: |
91-9381171777 |
LOCATIONS
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Registered Office : |
Bharani Studio Compound, 22, |
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Tel. No.: |
91-44-23651251 |
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Mobile No.: |
91-9341899887/ 9381171777/ 9382646225 (Mr. Sridhar) |
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Fax No.: |
91-44-23651171/ 23650253 |
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E-Mail : |
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Location : |
Leased |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Ramesh Tandra |
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Designation : |
Whole Time Director |
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Address : |
Bharani Studio Co, 22/B, |
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Date of Birth/Age : |
23.07.1963 |
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Qualification : |
PUC |
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Date of Appointment : |
01.04.2009 |
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Din No.: |
01709665 |
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Name : |
Mr. Venkata Mohan Gopala Appa Rao Meka |
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Designation : |
Whole Time Director |
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Address : |
C1-105, Raw Clusters, Lottagolahalli, |
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Date of Birth/Age : |
29.09.1952 |
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Qualification : |
B.Com |
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Date of Appointment : |
01.04.2009 |
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Din No.: |
01709611 |
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Name : |
Mr. Kartheeka Thandra |
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Designation : |
Whole Time Director |
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Address : |
Flat No. D and E, |
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Date of Birth/Age : |
08.05.1974 |
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Qualification : |
MA |
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Date of Appointment : |
01.04.2009 |
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Din No.: |
01740950 |
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Name : |
Mr. Pavan Kumar Appa Rao Meka |
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Designation : |
Whole Time Director |
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Address : |
C1-105, Raw Clusters, Lottagolahalli, |
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Date of Birth/Age : |
04.12.1978 |
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Qualification : |
B. Tech |
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Date of Appointment : |
01.04.2009 |
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Din No.: |
01740965 |
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Name : |
Mr. Sammer Kumar Appa Rao Meka |
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Designation : |
Whole Time Director |
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Address : |
C1-105, Raw Clusters, Lottagolahalli, |
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Date of Birth/Age : |
11.03.1980 |
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Qualification : |
BBM |
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Date of Appointment : |
01.04.2009 |
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Din No.: |
01740979 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Venkata Mohan Gopala Appa Rao Meka |
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1500 |
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Ramesh Tandra |
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2500 |
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Kartheeka Thandra |
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2500 |
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Pavan Kumar Appa Rao Meka |
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1000 |
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Sammer Kumar Appa Rao Meka |
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1500 |
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M. Akhila |
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500 |
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M. Rajaratna |
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500 |
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Total |
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10000 |
Equity
Share Breakup (Percentage of Total Equity)
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of a Cinema Sound Negative |
GENERAL INFORMATION
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Customers : |
Corporates |
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No. of Employees : |
Approximately 30 |
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Bankers : |
Thousand Light Branch, ¨ UCO Bank 195, ¨
State
Bank of |
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Facilities : |
Term Loan Limit Rs.3.500 Millions, Over Draft Facility of Rs.1.000
Millions from State Bank of
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Banking
Relations : |
Fair |
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Financial
Institution : |
Sundaram Finance |
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Auditors : |
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Name : |
G Kesavardhana Reddy Chartered Accountant V S Reddy S.P and Associates Chartered Accountant |
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Address : |
The Regency, No. 5, First Lane, Ground Floor, Nungambakkam High Road, Nungambakkam,
Chennai-600034, Tamilnadu, India |
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Tel. No.: |
91-44-28256315/ 28256241 |
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Fax No.: |
91-44-28255496 |
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Associates/Subsidiaries : |
Balaji Colour
Laboratories
(Film Printing and Processing) B Balaji Digi
Studio No.81, Madhu Arts Studio Complex, Chikkalasandra, Uttarhali, (Film Post Production Work, Like Mixing, Dubbing and Song Recording
etc.) |
CAPITAL STRUCTURE
BALAJI PHOTO FILMS
: (Partnership Firm)
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Capital Investment : |
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Owned : |
Rs. 7.716 Millions |
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Borrowed : |
--- |
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Total : |
Rs. 7.716 Millions |
BALAJI STUDIOS
PRIVATE LIMITED
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 :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/-
each |
Rs.1.000
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
BALAJI
PHOTO FILMS : (Partnership Firm)
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Particulars |
|
31.03.2009 |
31.03.2008 |
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Sales Turnover |
|
40.000 |
20.000 |
BALAJI
STUDIOS PRIVATE LIMITED
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Partners Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
1.429 |
5.421 |
0.000 |
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3] Reserves & Surplus |
5.066 |
0.077 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.495 |
6.498 |
1.000 |
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LOAN FUNDS |
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1] Secured Loans |
53.158 |
11.128 |
0.000 |
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2] Unsecured Loans |
26.512 |
3.900 |
0.000 |
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TOTAL BORROWING |
79.670 |
15.028 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
87.165 |
21.526 |
1.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.947 |
13.477 |
0.000 |
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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 |
76.225 |
14.862 |
0.000 |
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Sundry Debtors |
0.664 |
7.524 |
0.000 |
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Cash & Bank Balances |
3.060 |
0.073 |
0.000 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
4.498
|
3.939
|
1.000 |
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Total
Current Assets |
84.447
|
26.398
|
1.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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|
0.000 |
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Current Liabilities |
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|
0.000 |
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Provisions |
5.097
|
2.612
|
0.000 |
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Total
Current Liabilities |
12.229
|
18.349
|
0.000 |
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Net Current Assets |
72.218
|
8.049
|
1.000 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
87.165 |
21.526 |
1.000 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
|
55.835 |
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Other Income |
|
9.191 |
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TOTAL |
|
65.026 |
1.374 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
|
58.958 |
1.284 |
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Advertising Expenses |
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TOTAL |
|
58.958 |
1.284 |
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PROFIT BEFORE
TAX |
|
6.068 |
0.090 |
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Less |
TAX |
|
1.106 |
0.013 |
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PROFIT AFTER TAX
|
|
4.962 |
0.077 |
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Earnings Per
Share (Rs.) |
|
496.29 |
7.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.63
|
5.60 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
10.87
|
NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.10
|
0.23 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.81
|
0.01 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
12.26
|
5.14 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
6.91
|
1.44 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
- Oscar Films-Suresh
(91-9884022356)
- S.
Pictures-Siva (91-9444009192)
- Indo Overseas
Films – Ganesh (91-9884485030)
Note :
The company was a partnership firm in the name of Balaji Photo Films since
2000, than it has being changed to Private Limited in the name of Balaji
Studios Private Limited incorporated in March 2008. It has started its business
in Private Limited since March 2009.
Note:
The registered
office of the company has been shifted from flat No. D and E,
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U92100TN2008PTC066149 |
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Name of the
company |
BALAJI STUDIOS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Bharani Studio Compound, 22, |
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This form is for |
Creation of charge |
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Type of charge |
Book Debts Movable Property Others |
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Particular of
charge holder |
State Bank of |
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Nature of
instrument creating charge |
a) Letter of Arrangement (SME-1) b) Agreement of Loan Cum Hypothecation
(SME-2) |
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Date of
instrument Creating the charge |
24.06.2010 |
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Amount secured by
the charge |
Rs. 9.230
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 12.25%
p.a. Terms of
Repayment OD- Repayable on
Demand TL-1 – Repayable
in 36 Monthly installments TL-2- Repayable in
06 monthly installments of Rs. 0.060 Million p.m.+ interest as and when
applied. TL-3 – Repayable
in 33 Monthly installments Rs. 0.050 Million + Interest Margin 25% of raw
materials, semi finished and finished goods 50% of Domestic
Receivables. Extent and
Operation of the charge As per Agreement |
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Short particulars
of the property charged |
First and
Exclusive charge over all fixed assets of the company including land on which
factory is located and building. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U92100TN2008PTC066149 |
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Name of the
company |
BALAJI STUDIOS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Address : Bharani Studio Compound, 22, Email : balajiphotofilms@gmail.com
|
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Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Others Copyright or license under a copyright |
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Particular of
charge holder |
UCO Bank Address : 195, Email : chennai_ssandco@airtelmail.in |
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Nature of
description of the instrument creating or modifying the charge |
|
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Date of
instrument Creating the charge |
22.01.2010 |
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Amount secured by
the charge |
Rs. 50.000
Millions. |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: BPLR+4% presently
16.25% on monthly rests. Interest to be serviced as and when charged. Rates
shall be subject to revision at bank’s own discretion or any policies as
circulated if any/RBI. Terms of
Repayment : The Demand Cash
Credit facility of Rs. 50.000 Millions is to be repaid before 31.08.2010 or
release of the firm whichever is earlier. Margin : 63% (Bank Finance
is Rs. 50.000 Millions against total cost of production of Rs. 134.000
Millions) Extent and
Operation of the charge : Hypothecation of
assets including Book Debts and the balance lying in Trust and Retention
account. Charge on all
Music audio, Video CD, DVD, Interest, Satellite and Channel rights relating
to the Film are to be exclusive held by the Bank. |
|
Short particulars
of the property charged |
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FIXED
ASSETS :
¨
Plant and Machinery
¨
Air Conditioner
¨
Beta Recorder
¨
Cell Phone
¨
Fax Machine
¨
Optical Sound Camera
¨
Projector Lamp
¨
Dolby SR Units
¨
QSC Amplifiers
¨
JBL Speakers
¨
Pana Stereo 6 Channel Encoder and
Decoder
¨
Computer Software Systems
¨
Printers
¨
Spectral Compressor
¨
Cable Connectors
¨
Vacuum Cleaner
¨
Projector Parts
¨
Fire Extinguishers
¨
Mackie Equalizer
¨
Furniture and Fixtures
¨
Generator
PROFILE:
Subject is a five-years-old company commencing from 27.10.2000. Their business
venture started by taking over the Indian Dealership of AGFA GEVAERT NV Sound
Negative, Belgium Specially for Dolby SRD and DTS Sound tracks. They are proud
to say that they have established a name for AGFA Sound in
Inspired by the customer relationship they have also added few feathers
in their cap by adding a Dolby, DTS Mixing theater equipped with latest
equipment and high skilled manpower. They have also added up with Dolby, DTS
optical transfer facilities, finding the prospect in this line later on them
added three dubbing theatres and telecine facilities. All these theatres are
heavily booked throughout the year. This growth has encouraged to go for
further expansion in other parts of their country. They have started a similar
setup in
Since quality output is their only goal they have installed a sound
developing plant in their compound to deliver the optimum results in connection
with the sound tracks produced by them. Their Ultimate aim is to produce a Turn
Key solution for sound.
Further they have extended their relationship with film industry by
entering films processing and printing with international standards on the mane
of Balaji Colour Laboratories.
Balaji Colour Laboratories is a company having labs in
Importers of Country:
Agfa Headquarters
2640
Tel. No. 32-3-4442111
Fax. No. 32-3-4447094
Regional Office
Business Park E19
Battelsesteenweg 455 I
2800
Tel. No. 32-3-4449444
Fax No. 32-3-4449445
Sales
Prins Boudewijnlaan 5
2550
Tel. No. 32-3-4509711
Fax No. 32-3-4509898
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.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.