Summary Information

		Country	India
Company Name	KASTURI AND SONS LIMITED	Principal Name 1	Mr. Narasimhan Ram
Status	Good	Principal Name 2	Mr. Narasimhan Murali
		Registration #	18-001091
Street Address	Kasturi Building, 859-860, Anna Salai, Chennai – 600 002, Tamilnadu, India
Established Date	21.02.1940	SIC Code	--
Telephone#	91-44-28413344 / 8535067/ 28576300	Business Style 1	Printing
Fax #	91-44-28415325 / 28551046	Business Style 2	Publishing
Homepage	http://www.hindu.com	Product Name 1	The Hindu (daily)
# of employees	--	Product Name 2	The Hindu Business Line (daily)
Paid up capital	Rs. 17,600,000/-	Product Name 3	The Sportstar (Weekly)
Shareholders	Foreign holdings – 16.40% Bodies corporate - 3.07% Directors or relatives of directors – 80.53%	Banking	Central Bank of India Limited
Public Limited Corp.	No	Business Period	72 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	A (59)
Related Company
Relation	Country	Company Name	CEO
Joint Ventures	--	CCI Sourcing Private Limited (CCI)	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	2,915,026,000	Current Liabilities	1,028,296,000
Inventories	1,073,245,000	Long-term Liabilities	4,204,200,000
Fixed Assets	7,013,284,000	Other Liabilities	719,936,000
Deferred Assets	0	Total Liabilities	5,952,432,000
Invest& other Assets	212,143,000	Retained Earnings	5,243,666,000
	0	Net Worth	5,261,266,000
Total Assets	11,213,698,000	Total Liab. & Equity	11,213,698,000
Total Assets (Previous Year)	13,509,002,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	6,497,403,000	Net Profit	316,863,000
Sales(Previous yr)	6,778,194,000	Net Profit(Prev.yr)	242,715,000

MIRA INFORM REPORT

Report Date :

14.11.2011

IDENTIFICATION DETAILS

Name :	KASTURI AND SONS LIMITED
Registered Office :	Kasturi Building, 859-860, Anna Salai, Chennai – 600 002, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.02.1940
Com. Reg. No.:	18-001091
Capital Investment/ Paid-up Capital:	Rs.17.600 millions
CIN No.: [Company Identification No.]	U22110TN1940PLC001091
TAN No.: [Tax Deduction & Collection Account No.]	CHEK00065C
PAN No.: [Permanent Account No.]	AAACK3000H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company acts as publishers. The company is engaged in printing, publishing and circulating of magazines and newspapers. It also acts as importers and exporters.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (59)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 21000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track records. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealing 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	Kasturi Building, 859-860, Anna Salai, Chennai – 600 002, Tamilnadu, India
Tel. No.:	91-44-28413344 / 8535067/ 28576300
Fax No.:	91-44-28415325 / 28551046
E-Mail :	eskey@thehindu.co.in hindu@vsnl.com padmanabhan.s@thehindu.co.in
Website :	http://www.hindu.com
Branches :	Located At: Bangalore Kolkata Coimbatore Hyderabad Kochi Kozhikode Madurai Mumbai New Delhi Trichy Trivandrum Vizag Patna Vijayawada Also located At: Bahrain Brussels Cape Town Colombo Islamabad London Singapore Tokyo Washington

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Ram Narsimhan

Designation :

Whole Time Director

Address :

43B Kasturi Ranga Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

04.05.1946

Qualification :

M.,A, M.S (Journalism), Columbia University

Experience :

42 Years

Date of Appointment :

21.06.2001

DIN No :

00141557

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	21/06/2011	5/7/1977	-	Active	NO
2	U85110TN1990PTC018730	Ehs Management Technologies Private Limited	Director	22/02/1990	22/02/1990	-	Dissolved	NO
3	U70101TN1948PTC001117	Kasturi Estates Private Limited	Director	10/5/1991	10/5/1991	-	Active	NO
4	U22122TN1999PTC042550	Tnq Books and Journals Private Limited	Director	27/03/2000	27/03/2000	-	Active	NO
5	U64200MH1994PLC083996	Mahindra First Choice Wheels Limited	Director	16/06/2000	16/06/2000	16/06/2008	Active	NO
6	U22300DL2007PLC168950	Metronation Chennai Television Limited	Director	30/09/2008	4/10/2007	-	Active	NO

Name :

Mr. Murali Narasimhan

Designation :

Managing Director

Address :

260-A, TTK Road,Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

11.08.1946

Qualification :

B.Com, A.C.A

Experience :

39 Years

Date of Appointment :

13.11.2000

DIN No :

00141517

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	11/8/2011	1/2/1980	-	Active	NO
2	U65991TN1989PTC017497	Krishkan Investment Private Limited	Director	5/6/1989	5/6/1989	12/1/2011	Active	NO
3	U73100KA1995PTC018773	Firstapex Software Technologies Private Limited	Director	10/1/2000	10/1/2000	22/09/2010	Active	NO
4	U74300TN2001PTC046414	Wan - IFRA South Asia Private Limited	Director	5/1/2001	5/1/2001	21/07/2011	Active	NO
5	U74300TN2007PTC063452	CCI Sourcing Private Limited	Nominee director	19/09/2008	13/08/2007	4/12/2008	Active	NO
6	U22300DL2007PLC168950	Metronation Chennai Television Limited	Director	30/09/2008	4/10/2007	22/09/2010	Active	NO

Name :

Mr. Ravi Narasimhan

Designation :

Whole Time Director

Address :

43A, Kasturi Ranga Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

01.01.1948

Qualification :

M.A, B.L

Experience :

36 Years

Date of Appointment :

23.07.2005

DIN No :

00141587

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65991TN1989PTC017498	Serendipity Investments Private Limited	Director	5/6/1989	5/6/1989	-	Active	NO
2	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	23/07/2010	23/07/1990	-	Active	NO
3	U74899DL1947PLC103246	The Press Trust Of India Limited	Director	26/08/1991	26/08/1991	-	Active	NO
4	U65991TN1989PTC017792	Narayan Sriram Investments Private Limited	Director	8/1/1999	8/1/1999	4/3/2011	Active	NO

Name :

Mrs. Nirmala Lakshmanan

Designation :

Whole Time Director

Address :

30A, Kasturi Ranga Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

30.01.1954

Qualification :

M.A, Ph.D

Experience :

30 Yearss

Date of Appointment :

04.03.2001

DIN No :

00141632

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	4/3/2011	4/3/1991	-	Active	NO
2	U33111TN1986PTC013157	Magnum Integrated Services Private Limited	Director	2/4/2004	2/4/2004	-	Active	NO
3	U65991TN1989PTC017792	Narayan Sriram Investments Private Limited	Director	30/09/2005	30/09/2005	4/3/2011	Active	NO

Name :

Mrs. Nalini Krishnan

Designation :

Whole Time Director

Address :

7A, Parthasarathy Garden, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

13.10.1956

Qualification :

M.D

Experience :

17 Years

Date of Appointment :

21.06.2001

DIN No :

00141641

Other Directorship :

.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	21/06/2011	23/04/1984	-	Active	NO
2	U65991TN1989PTC017792	Narayan Sriram Investments Private Limited	Director	8/1/1999	8/1/1999	4/3/2011	Active	NO

Name :

Mrs. Malini Parthsarathy

Designation :

Whole Time Director-Joint Editor

Address :

280, J J Road,Off T.T.K. Road, Chennai – 600 018, Tamilnadu, India

Date of Birth/Age :

15.08.1959

Qualification :

M.S. (Journalism), Columbia University, Ph.D

Experience :

25Years

Date of Appointment :

21.06.2001

DIN No :

00141685

Name :

Mr. Ramesh Rangarajan

Designation :

Whole Time Director

Address :

7, Parthasarathy Garden,Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

18.10.1959

Qualification :

B.A

Experience :

25 Years

Date of Appointment :

21.06.2001

DIN No :

00141701

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65993TN1990PTC019983	Harini Investments And Farms Private Limited	Director	7/12/1990	7/12/1990	-	Active	YES
2	U70101TN1948PTC001117	Kasturi Estates Private Limited	Director	10/5/1991	10/5/1991	-	Active	NO
3	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	21/06/2011	21/06/1991	-	Active	NO
4	U74999TN1995PTC033848	Hindcorp Resorts Private Limited	Director	22/12/1995	22/12/1995	-	Active	NO
5	U22300DL2007PLC168950	Metronation Chennai Television Limited	Director	3/8/2011	29/11/2010	-	Active	NO

Name :

Mr. Kasturi Venugopal

Designation :

Whole Time Director

Address :

43/4, Kasturi Ranga Road,Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

18.08.1957

Qualification :

M.A, M.S. (Journalism) llinois University

Experience :

28 Years

Date of Appointment :

05.07.2005

DIN No :

00141736

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22219TN1991PTC021111	Sanka Graphics Private Limited	Director	11/7/1991	11/7/1991	-	Strike off	NO
2	U70101TN1948PTC001117	Kasturi Estates Private Limited	Director	31/12/1991	31/12/1991	-	Active	NO
3	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	5/7/2010	5/7/2000	-	Active	NO

Name :

Mr. Kasturi Balaji

Designation :

Whole Time Director

Address :

43/3, Kasturi Ranga Road,Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

24.09.1955

Qualification :

B.com, M.M.S

Experience :

31 Years

Date of Appointment :

01.10.2000

DIN No :

00141713

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22219TN1991PTC021111	Sanka Graphics Private Limited	Director	11/7/1991	11/7/1991	-	Strike off	NO
2	U22110TN1940PLC001091	Kasturi and Sons Limited	Managing director	1/10/2010	5/7/2000	-	Active	NO
3	U74300TN2007PTC063452	Cci Sourcing Private Limited	Nominee director	19/09/2008	13/08/2007	4/12/2008	Active	NO
4	U99999DL1951PLC002023	The Indian Newspaper Society.	Director	25/10/2010	25/10/2010	-	Active	NO

Name :

Mr. Srinath Lakshmi

Designation :

Director

Address :

60, First Main Road, R A Puram, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

23.09.1959

Qualification :

B.A, C.LIB, SC

Experience :

9 Years

Date of Appointment :

05.07.2000

DIN No :

00141755

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	1/10/2007	5/7/2000	-	Active	NO
2	U74999TN2011PTC081558	Tvam Art And Design Studio Private Limited	Director	18/07/2011	18/07/2011	-	Active	NO

Name :

Mr. Akila Vijay Iyengar

Designation :

Whole Time Director

Address :

65, Coronation Road, Singapore-269464

Date of Birth/Age :

20.06.1965

Date of Appointment :

28.08.2008

DIN No :

00141804

Name :

Mr. Vijaya Arun

Designation :

Whole Time Director

Address :

122, St. Mary’s Road, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

11.04.1963

Qualification :

M.Sc, PG Diploma in Pre-primary education and in Techning Young Hearing impaired

Experience :

12/2Years

Date of Appointment :

01.10.2007

DIN No :

01343692

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U22110TN1940PLC001091	Kasturi and Sons Limited	Whole-time director	1/10/2007	24/02/2007	-	Active	NO
2	U65923TN2010PTC075780	Sargam Holding Company Private Limited	Director	21/05/2010	21/05/2010	-	Active	NO
3	U28100TN1970PTC005846	Sargam Metals Private Limited	Director	16/03/2011	16/03/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. S. Padmanabhan
Designation :	Secretary
Address :	New No.59, first Main Road, CIT Nagar, Chennai-600035, Tamilnadu, India
Date of Birth/Age :	12.04.1968
Date of Appointment :	01.01.2011

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
n. Ram	6600
Rangarajan Shanta	12974
Kasturi Kamala	2469
Arun Vijaya	4570
Vijay Iyengar Akila	2708
G. Kasturi	2944
M. Krishna	4000
N. Murali	1000
Murali Kanta	4000
Murali Tara	520
N. Ram	2924
Ram Vidya	4000
N. Ravi	200
Ravi Aparna	4000
N. Ravi	2924
Ravi Sudha	1000
Balaji Madhumita	11112
Venugopal Divya	5200
Narayan Lakshman	3350
Sriram Lakshman	3350
Serendipity Investments (Private) Limited, India	5400
R. Ramesh	5886
K Balaji	2500
Parthasarathy Malini	10396
K. Venugopal	612
K. Venugopal	2600
Venugopal Lavanya	5200
G. Kasturi	900
Parthasarathy Menaka	13020
Narayanan Usha	3428
Lakshman Nirmala	3592
N. Murali	4004
Akshay Krishnan	1150
Ananth Krishnan	1125
R. Ramesh and Ramesh Rohit	8000
R. Ramesh and Ramesh Archit	8000
Rangarajan Shanta and Vijay Iyenger Akila	622
Rangarajan Shanta and Vijay Vishal	620
Rangarajan Shanta and Vijay Abhinav	620
Krishnan Nalini and Krishnan Akshay	3500
Krishnan Nalini and and Krishnan Ananth	3500
Krishnan Nalini	1017
Srinath Lakshmi	6883
Srinath Lakshmi and Srinath Krithika	1780
Srinath Lakshmi and Malavika Nataraj	1800
Total	176000

Equity Share Breakup

(AS ON 30.09.2011)

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	16.40
Bodies corporate	3.07
Directors or relatives of directors	80.53
Total	100.000

BUSINESS DETAILS

Line of Business :

The company acts as publishers. The company is engaged in printing, publishing and circulating of magazines and newspapers. It also acts as importers and exporters.

Products :

Product Description	Item Code No.
The Hindu (Daily)	490210-01
The Hindu Business Line (Daily)	490210-01
Sportstar (Weekly)	490290-02
Frontline (B I - Weekly)	490290-02

PRODUCTION STATUS AS ON 31.03.2010

Particular	310.03.2010
Installed capacity (Copies per hour of the Hindu size)
1) of 32 pages	455000
2) of 24 pages	455000

Particular	31.03.2010
Production (in 000’s)
1)The Hindu	518595
2) The Hindu Business Line (Production figures of other publications have not been given as they form less than 10 % of the total in value)	69678

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Central Bank of India Limited, Addison Buildings, 803, Anna Salai, Chennai-600002, Tamilnadu, India

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel, West, Mumbai-400013, Maharashtra, India

· ICICI Bnk limited, Landmark Race Cource Circle, Alkapuri, Baroda-390 015, Gujarat, India

Facilities :

(Rs. in millions)

Secured Loans	As on 31.03.2010	As on 31.03.2009
Term Loans	2868.105	2891.284
Interest Accrued and due	10.951	4.058
Cash Credit	84.526	112.682
Short Term Loans	100.000	300.000
Buyers Credit	253.668	0.000
Total	3317.25	3308.024

Note:

1. The Term Loans from Banks are secured by equitable mortgage of immovable properties situated at Chennai Mount Road and Maraimalai Nagar, Madurai-K. K. Nagar, Coimbatore-A.T.T. Colony and Singanallur, Mumbai, Hyderabad-Begumpet and Uppal, Vishakhapatnam-TPT Colony, Thiruvanthampuram-Vallakadavu, New Delhi, Mangalore, Tiruchirapallai, Vijaywada, Cochin and Bangalore-B.M.Road. Further all term loans are secured by Hypothecation of machinery situated at all printing centers, other than specific charge. Term loan amounting to Rs.75.000 Millions secured by hypothecation of specific machinery. Due for repayment within twelve months amounting Rs. 1067.613 millions (Previous year Rs.935.550 Millions.)

2. Secured against hypothecations of inventories and book debts

(Rs. in millions)

Unsecured Loans	As on 31.03.2010	As on 31.03.2009
Fixed Deposits *	381.449	262.889
From a company	21.504	6.007
Short Term Loans	0.000	0.000
From Banks	414.928	100.000
Buyers credit	0.000	492.698
Total	817.881	861.594

Note:

*Include loans from Directors Rs.54.985 millions (Previous Year Rs.50.273 millions)

Banking Relations :	--
Auditors :
Name :	Brahmayya and Company Chartered Accountants
Address :	45, Masilamani Road, Royapettah, Chennai – 600014, Tamilnadu, India
Income-tax PAN of auditor or auditor’s firm :	AAAFB2481J
Joint Ventures:	CCI Sourcing Private Limited (CCI) Metronation Chennai Television Limited (MCTL)

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Share	Rs.100/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
176000	Equity Share	Rs.100/- each	Rs.17.600 millions

Note:

Of the Equity shares 6000 shares are allotted as fully paid up pursuant to a contract without payment being received in cash and 161000 shares are allotted as fully paid up by way of bonus shares by capitalization of reserves.

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
1] Share Capital		17.600	17.600	17.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5243.666	4998.668	4879.500
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5261.266	5016.268	4897.100
LOAN FUNDS
1] Secured Loans		3317.250	3308.024	3052.913
2] liability for Leased Assets		69.069	105.802	93.674
3] Unsecured Loans		817.881	861.594	241.571
TOTAL BORROWING		4204.200	4275.420	3388.158
DEFERRED TAX LIABILITIES		425.613	353.013	296.014
TOTAL		9891.079	9644.701	8581.272
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7013.284	5930.961	4528.211
Capital work-in-progress		142.018	201.652	892.524
INVESTMENT		70.125	59.325	25.125
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1073.245	1952.269	1022.349
	Sundry Debtors	1510.800	1317.815	1548.491
	Cash & Bank Balances	534.114	513.494	1799.194
	Other Current Assets	70.491	73.954	99.618
	Loans & Advances	799.621	1057.174	2833.511
Total Current Assets		3988.271	4914.706	7303.163
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	757.333	918.604	1268.478
	Other Current Liabilities	270.963	247.869	259.292
	Provisions	294.323	295.470	2639.981
Total Current Liabilities		1322.619	1461.943	4167.751
Net Current Assets		2665.652	3452.763	3135.412
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		9891.079	9644.701	8581.272

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Advertisement	6497.403	6778.194	7279.287
		Circulation	1207.399	1092.455	1103.300
		Other Income	176.927	183.772	186.866
		TOTAL (A)	7881.729	8054.421	8569.453
Less	EXPENSES
		Newsprint, Paper, Ink consumed	2589.142	2958.548	2268.011
		Stores Consumed	180.023	172.970	139.714
		News Gathering	142.668	139.584	120.293
		Power	149.636	131.637	121.077
		Salaries , Wages and Other Employee Benefits	2077.519	1923.410	1530.335
		Commission	8.245	8.034	6.667
		Distribution Expenses	235.738	276.909	204.732
		Repairs, Renewals and Maintenance	135.724	136.409	109.955
		Other Expenses	891.223	916.861	845.563
		TOTAL (B)	6409.918	6664.362	5346.347
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1471.811	1390.059	3223.106
Less	FINANCIAL EXPENSES (D)		371.582	307.243	249.284
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1100.229	1082.816	2973.822
Less/ Add	DEPRECIATION/ AMORTISATION (F)		699.222	629.701	600.597
	PROFIT BEFORE TAX (E-F) (G)		401.007	453.115	2373.225
Less	TAX (H)		84.144	210.400	895.698
	PROFIT AFTER TAX (G-H) (I)		316.863	242.715	1477.527
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2590.453	2772.785	1975.164
Less	APPROPRIATIONS
		Interim dividend paid during the year	(8.800)	(26.400)	(110.000)
		Interim dividend paid after the close of the years	(26.400)	(26.400)	(88.000)
		Proposed dividend	(26.400)	(52.800)	(88.000)
		Dividend tax	(10.265)	(17.947)	(48.606)
		Transfer to general reserve	(31.700)	(301.500)	(345.300)
	BALANCE CARRIED TO THE B/S		2803.751	2590.453	2772.785
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.908	0.781	0.786
		Royalty	9.594	15.264	10.259
		Interest	0.465	9.272	7.265
		Advertisement and Other	30.895	63.024	55.940
	TOTAL EARNINGS		41.862	88.341	74.250
	IMPORTS
		Raw Materials	1125.896	2942.080	1811.417
		Stores & Spares	58.397	110.017	130.320
		Capital Goods	1161.890	540.160	295.174
	TOTAL IMPORTS		2346.183	3592.257	2236.911
	Earnings Per Share (Rs.)		1800	1379	8395

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	4.02	3.01	17.24
Net Profit Margin (PBT/Sales)	(%)	5.21	5.75	28.31
Return on Total Assets (PBT/Total Assets}	(%)	3.65	4.17	20.06
Return on Investment (ROI) (PBT/Networth)		0.07	0.09	0.48
Debt Equity Ratio (Total Liability/Networth)		1.05	1.14	1.54
Current Ratio (Current Asset/Current Liability)		3.02	3.36	1.75

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS AND OUTLOOK:

The decline in advertising revenues that began in November 2008 lasted till November 2009, well into the financial year. Newsprint prices showed a sharp downward trend till July-September 2009 but started firming up thereafter and continue to climb. Among the causative factors are capacity rationalization (including mill closures) in Canada and the US, temporary shortage of raw material and increase in ocean freight. The full advantage of lower prices could not be obtained because stocks purchased during the high-price period (second half of 2008) had to be consumed. In the matter of both newsprint costs and advertising revenues, financial year 2009-2010 has followed the same pattern as financial year 2008-2009. Advertisement rates were revised upward on August 1, 2009 and again on June 1, 2010 but they continue to be under pressure due to competition and media buying practices.

The circulation of The Hindu increased by 0.90 per cent between the periods July-December 2008 (ABC 14, 53,405) and July-December 2009 (ABC 14, 66,304). The circulation of Business Line increased by 2.90 per cent between the periods July-December 2008 (ABC 1, 71,748) and July-December 2009 (ABC 1, 76,766).

EXPANSION AND MODERNISATION

Additional formers and folding devices have been incorporated in the presses at MM Nagar (Chennai). These enable production of multiple sections in a single print run and super-panorama (4-page wide spread) respectively. The production of multiple sections in a single print run not only saves a great deal of time and effort that would be otherwise involved in manual collation but also ensures that individual sections are not lost during the distribution process.

The new double-width press installed in Coimbatore went into production in January 2010. It can print 16 pages in colour and a maximum of 24 pages. With this the Company is well positioned to meet competition in the areas of quality and timely delivery.

The Company has purchased land in Kozhikode with a view to setting up a press. Our readers in the northern parts of Kerala have had to put up with rather late arrival of copies printed in Kochi. A printing facility in Kozhikode will remove this long-standing complaint and help improve circulation.

JOINT VENTURES

The Company’s joint venture — Metronation Chennai Television Limited — with NDTV has been in operation for over a year. The revenue from the NDTV-Hindu city channel has fallen far short of expectations. The management has been revamped as also the content. These changes together with the steps proposed to be taken for better distribution are expected to produce a marked improvement in performance.

CONTINGENT LIABILITIES:

a) Claims against the Company not acknowledged as debts

· Custom Duty Rs.3.807 millions and interest under section 28AA of Customs Act

· Income Tax Rs.7.306 millions

· Vacant land tax Rs.7.306 millions

· Service Tax (show cause notice received ) : Rs.18.027 millions

b) Letters of Credit outstanding as on 31^st March, 2010 Nil (Previous year Rs.489.800 millions) and Bank Guarantee Rs.1.380 million (Rs.1.680 millions)

c) The company has given a Corporate Guarantee of Rs.80.000 millions to a bank for loan availed by Metronation Chennai Television Limited, Joint Venture Company. The amount of loan outstanding as on 31^st March, 2010 is Rs.9.834 millions (Previous year Nil). The company’s share is 49% of Rs.9.834 millions.

FORM 8:

Corporate identity number of the company	U22110TN1940PLC001091
Name of the company	KASTURI AND SONS LIMITED
Address of the registered office or of the principal place of business in India of the company	Kasturi Building, 859 and 860, Anna Salai, Chennai-600002, Tamil Nadu, India E-Mail Id: padmanabhan.s@thehindu.co.in
This form is for	Modification of charge
Charge identification number of the charge to be modified	90288569
Type of charge	Immovable Property
Particular of charge holder	Central Bank Of India Limited, Addison Buildings, 803, Anna Salai, Chennai-600002, Tamilnadu, India E-Mail Id: agmchen0878@centralbank.co.in
Nature of instrument creating charge	No instrument was executed but on 08/06/2011 a mortgage was created by the Company in favour of Central Bank of India by deposit of title deeds with ICICI Bank Limited in respect of Company's immovable properties situate at Singanallur, Coimbatore.
Date of instrument Creating the charge	08/06/2011
Amount secured by the charge	Rs.1100.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	a) Rate of Interest BR + 2.75 with reset every 364 days b) Terms of repayment 20 quarterly installment c) Margin 23% d) Extent and operation of the charge Mortgage in favour of Central Bank of India by deposit of title deeds with ICICI Bank Limited in respect of Company's immovable properties. The charge on the immovable properties shall operate as security till complete closure of the overall limit of Rs.1100.000 millions which is recorded in the books of accounts of the Central Bank of India on paripasu basis with term loan lenders.
Short Particulars of the property charged	The Company's properties located at Coimbatore
Date of instrument modifying the charge	20/06/2007
Particulars of the present modification	Additional charge was created by the Company in favour of Central Bank of India by deposit of Title Deeds pertaining to the Company's property at Singanallur.

FIXED ASSETS:

Own Assets:

· Leasehold Land

· Freehold Land

· Building

· Plant and Machinery

· Electrical Installations

· Office Machinery

· Furniture

· Vehicles

Leased Assets:

· Vehicles

· Computers

· Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No 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] 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.50.28
UK Pound	1	Rs.80.07
Euro	1	Rs.68.45

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		59

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.