MIRA
INFORM REPORT
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Report Date : |
19.05.2011 |
IDENTIFICATION DETAILS
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Name : |
AAMODA PUBLICATIONS PRIVATE LIMITED |
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Registered Office : |
Plot No. 76, Road No. 70, Aswini Enclave, Huda Heights, Jubilee Hills,
Hyedarabad-500033, Andhra Pradesh |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.08.2002 |
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Com. Reg. No.: |
01-039437 |
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Capital
Investment / Paid-up Capital : |
Rs. 270.000 Millions |
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CIN No.: [Company
Identification No.] |
U22219AP2002PTC039437 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA02308F |
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PAN No.: [Permanent
Account No.] |
AADCA7212Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject act as a Printer and Publishers of Telgu Daily :Andra Jyothy” |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1820000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a publisher of news paper and magazines. It is a company
with moderate track. Trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered 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 : |
Plot No. 76, Road No. 70, Aswini Enclave, Huda Heights, Jubilee Hills,
Hyedarabad-500033, Andhra Pradesh, India |
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Tel No.: |
91-40-23558233 |
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Fax No.: |
91-40-23558288 |
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E-Mail : |
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Website : |
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Head Office : |
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Tel No.: |
91-40-23558233/ 23558244/ 23558466/ 23558455/ 77 |
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Fax No.: |
91-40-23558288 |
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E mail: |
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Factory 1 : |
Plot No. 36, Huda heights, Ashwini Layout, Journalist Colony, Jubilee
Hills, Hyderabad – 500 034, Andhra Pradesh, India |
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Tel. No.: |
91-40-23353543 / 23558233 |
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Fax No.: |
91-40-23558233 / 88 |
DIRECTORS
AS ON 25.08.2010
|
Name : |
Mr. Vemuri Radha Krishna |
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Designation : |
Managing Director |
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Address : |
Plot No. 204, Road No. 76, Jubilee Hills, |
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Date of Birth/Age : |
20.06.1957 |
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Date of Appointment : |
09.08.2002 |
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Name : |
Mrs. Koganti Kanaka Durga |
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Designation : |
Director |
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Address : |
Plot No. 204, Road No. 76, Jubilee Hills, |
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Date of Birth/Age : |
14.05.1958 |
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Date of Appointment : |
09.08.2002 |
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Other Directorship Held: |
Active Power Corporation Private Limited CIN No.: U40109AP1998PTC030022 Designation: Executive Director |
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Name : |
Mr. T Rama |
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Designation : |
Director |
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Address : |
1-987902B, 102, Sri Sai Arcade Ayyappa Society, Mega Hills, Madhapur,
Hyderabad-500033, Andhra Pradesh, India |
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Date of Birth/Age : |
01.08.1951 |
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Date of Appointment : |
01.01.2008 |
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Name : |
Mr. M. Prabhakar Rao |
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Designation : |
Director |
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Address : |
Flat No. 103, Ruby apartments, Lumbini Rockdale, Somajiguds, |
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Date of Birth/Age : |
19.01.1959 |
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Date of Appointment : |
16.08.2002 |
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Date of Ceasing: |
25.09.2006 |
KEY EXECUTIVES
|
Name : |
Mr. M. Suneel Kumar |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.08.2010
|
Names of Shareholders |
No. of Shares |
|
V. Radha Krishna |
10744500 |
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K. Kanaka Durga |
2000000 |
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M. Prabhakar Rao |
2000000 |
|
Active Power Corporation Private Limited |
9750000 |
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V. Aditya |
120000 |
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V. Anusha |
135500 |
|
D Jai Ramesh |
2250000 |
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Total |
27000000 |
Equity Share Breakup
(Percentage of Total Equtiy)
AS ON 25.08.2010
|
Category |
Percentage
of Holding |
|
Bodies Corporate (Not mentioned above) |
36.11 |
|
Directors or relatives of
directors |
48.15 |
|
Other Top fifty (50) shareholders (other than listed above) |
15.74 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject act as a Printer and Publishers of Telgu Daily :Andra Jyothy” |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Pages of Dally Size |
30000 Speed –
Impressions per hour per machine |
4784717800 Pages of Daily
Size |
GENERAL INFORMATION
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No. of Employees: |
Not Available |
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Bankers : |
v
Union Bank of v
ICICI Bank Limited v
UCO Bank, Banjara Hills Branch, Hyderabad 500034,
Andhra Pradesh, India v
Bank
of India, Banjara Hills Branch, Chandra Apartments, 8-2-541/8, Road No. 7,
Banjara Hills, E-Mail: boihydcr@yahoo.co.in |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P R Datla and Company Chartered Accountants |
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Address : |
6-3-788/A/9, Plot No. 9, Laxmiprasanna Nilayam, Durganagar Colony,
Ameerpet, |
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Tel. No.: |
91-40-23408095 |
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Fax No.: |
91-40-23405014 |
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E mail: |
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Associates/Subsidiaries: |
Aamoda Broadcasting Company Private Limited CIN No.: U92130AP2008PTC061237 |
CAPITAL STRUCTURE
AS ON 25.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
27000000 |
Equity Shares |
Rs. 10/- each |
Rs. 270.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
270.000 |
270.000 |
270.000 |
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2] Share Application Money |
110.000 |
110.000 |
30.000 |
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|
3] Reserves & Surplus |
75.123 |
46.832 |
39.180 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
455.123 |
426.832 |
339.180 |
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LOAN FUNDS |
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1] Secured Loans |
313.520 |
353.413 |
354.227 |
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2] Unsecured Loans |
65.000 |
70.000 |
70.000 |
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TOTAL BORROWING |
378.520 |
423.413 |
424.227 |
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DEFERRED TAX LIABILITIES |
13.285 |
12.810 |
12.061 |
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TOTAL |
846.928 |
863.055 |
775.468 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
499.270 |
470.342 |
346.443 |
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Capital work-in-progress |
7.241 |
14.371 |
130.886 |
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INVESTMENT |
22.730 |
22.728 |
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 |
96.351
|
167.060 |
108.691
|
|
|
Sundry Debtors |
482.089
|
554.955 |
460.038
|
|
|
Cash & Bank Balances |
7.059
|
10.576 |
15.246
|
|
|
Other Current Assets |
0.000 |
0.000 |
0.000
|
|
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Loans & Advances |
115.306
|
45.326 |
52.463
|
|
Total
Current Assets |
700.805
|
777.917 |
636.438 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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|
Sundry Creditors |
266.289
|
285.192 |
238.073
|
|
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Current Liabilities |
160.838
|
175.384 |
122.695
|
|
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Provisions |
0.000 |
0.000 |
0.000
|
|
Total
Current Liabilities |
427.127
|
460.576 |
360.768
|
|
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Net Current Assets |
273.678
|
317.341 |
275.670
|
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MISCELLANEOUS EXPENSES |
44.009 |
38.273 |
22.469 |
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TOTAL |
846.928 |
863.055 |
775.468 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
|
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|
|
Sales |
1571.687 |
1626.272 |
1451.282 |
|
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Other Income |
0.000 |
0.000 |
0.000 |
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|
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TOTAL (A) |
1571.687 |
1626.272 |
1451.282 |
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|
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Less |
EXPENSES |
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|
|
|
|
|
|
Cost of Materials |
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|
Manufacturing Expenses |
|
|
|
|
|
|
Employees Remuneration |
1408.169 |
1481.898 |
1218.120 |
|
|
|
Increase/(Decrease) in Finished Goods |
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|
|
|
|
|
TOTAL (B) |
1408.169 |
1481.898 |
1218.120 |
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|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
163.518 |
144.374 |
233.162 |
|
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|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
68.065 |
79.956 |
48.415 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
95.453 |
64.418 |
184.747 |
|
|
|
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|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
62.191 |
55.692 |
30.173 |
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|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
33.262 |
8.726 |
154.574 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.971 |
1.073 |
12.832 |
|
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|
PROFIT AFTER TAX
(G-H) (I) |
28.291 |
7.653 |
141.742 |
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|
Earnings Per
Share (Rs.) |
1.05 |
-- |
5.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.80
|
0.47 |
9.77
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.11
|
0.53 |
10.85
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.77
|
0.69 |
15.73
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.02 |
0.46
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.79
|
2.10 |
2.31
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.68 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
Review of
Operations:
The company has achieved a Gross turnover of Rs. 1571.687 Millions
(Previous year Rs. 1626.272 Millions) and after providing for financial charges
and depreciation has resulted in a net profit after tax of Rs. 28.291 Millions (Previous year net
profit tax of Rs. 7.653 Millions)
Loan Facilities
From Bankers:
·
Term Loan of Rs. 30.000 Millions, Inland LC
facility of Rs. 50.000 Millions and Cash Credit of Rs. 100.000 Millions, was
sanctioned by Union Ban of India in terms of modification of term loan and
working capital limits, enhancement letter dated 23.01.2010.
· Term Loan of Rs. 160.000 Millions and Cash Credit of Rs. 10.000 Millions, was sanctioned by ICICI Bank Limited vide letter dated 11.03.2010.
Note:
Registered office of the company has been shifted from 8-2-293/82/J/68B, Journalists Colony, Jubilee Hills, Hyderabad 500033, Andhra Pradesh, India to the present address w.e.f. 01.10.2006
FORM 8
|
Corporate
identity number of the company |
U22219AP2002PTC039437 |
|
Name of the
company |
AAMODA PUBLICATIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 76, Road No. 70, Aswini Enclave, Huda Heights, Jubilee Hills,
Hyedarabad-500033, Andhra Pradesh, India |
|
This form is for |
Modification of
charge Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property (not
being pledge) Floating charge |
|
Particular of
charge holder |
UCO Bank, Banjara Hills Branch, Hyderabad 500034, Andhra Pradesh,
India Email: ucosur@sancharnet.in |
|
Nature of
instrument creating charge |
1. Memorandum of
Deposit of Title deeds 2. Omnibus
Agreement 3. Sanction
Letter |
|
Date of
instrument Creating the charge |
26.05.2010 |
|
Amount secured by
the charge |
Rs. 140.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest BPLR + 3.00% =
15.25% p.a. (Floating and Monthly
rests) Terms of repayment Repayable on
demand Margin Cash Credit: 25%
on stocks and 40% on Book Debts (upto
120 days) Letter of Credit:
25% at the time of issue of the ILC/FLC by way of FDR with lien noted in
favour of the Bank. Extent and operation of the charge Equitable
Mortgage of the Properties situated at Nalgonda, Kadapa, Srikakulam, Ongole
and Khammam more fully described hereunder in Field No.15 and First
pari-passu charge on stocks and receivables both present and future with other working capital lenders
and Exclusive first charge on stocks purchased out of LC issued by Uco Bank
as security for due repayment and discharge by the company to Uco Bank of its
Credit facilities of Rs.140 millions and interests, costs, commissions and
charges thereon. Other Break-up of the
total credit facilities of Rs.140.000 millions: Facility Limit in Rs. A. Cash Credit
(CC) Rs.100.00 millions B. Letter of
Credit (ILC/FLC) Rs.40.0 millions Total
Rs.140.0 millions Other terms and conditions
are as per the attached sanction/security documents dated 26.05.2010. |
|
Short particulars
of the property charged (Including location of the property) |
Agriculture dry
land Ac 101.25 cents situated Survey No.1617 at Arjalabai Village, Mandal and District Nalgonda. All that piece
and parcel of agricultural dry land measuring full extent of Ac 4.14 cents
out of this Ac 0.85 cents or 0.344 Hectors in SNo.137 and 138/3 at Chinnamachupalli, Chennur Mandal,
Kadapa Dist Srikakulam District, Edcherla Mandal and Village, Survey No.124/7, 124/8 West end
partition Ac 0.75 cents sold in Ac 1.25 cents. Ongole District
and Mandal, Throvagunta Village Ac
0.79 cents 946 sq links in Survey No.206/2 and Ac 0.18.1/2 cents in Survey No 206/3 two
items total Ac 0.98 cents and 496 sq. links. All that part
and parcel of land bearing part of
Plot#112 adm. 6000 sqyds or 5016.78 sqmts in one compact block at Industrial
Park being part of S.No.315 Khanapuram(Haveli), Khammam(urban) Mandal and Dist First pari-passu charge by way of
Hypothecation on entire stocks of inventory, printing materials,receivables
and other chargeable current assets
both present and future with other
working capital lenders Exclusive first
charge by way of Hypothecation of the company's entire stocks of raw
materials and finished goods purchased out of foreign/inland letter of credit
issued by Uco Bank. |
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Electronic Equipments
·
Office Equipments
·
Furniture and Fixtures
·
Electrical Equipments and
Fittings
·
Computers
·
Vehicles
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 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. 45.08 |
|
|
1 |
Rs. 73.35 |
|
Euro |
1 |
Rs. 64.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.