MIRA INFORM REPORT

Report Date :

23.11.2011

IDENTIFICATION DETAILS

Name :	LOKMAT MEDIA LIMITED (w.e.f. 21.09.2010)
Formerly Known As :	LOKMAT NEWSPAPERS PRIVATE LIMITED
Registered Office :	Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.05.2010
Date of Incorporation :	21.06.1973
Com. Reg. No.:	11-16613
Capital Investment / Paid-up Capital :	Rs.11.524 Millions
CIN No.: [Company Identification No.]	U99999MH1973PLC016613
TAN No.: [Tax Deduction & Collection Account No.]	PNEL00507D NGPL00282C MUML07503G
PAN No. :	AAACL1888J
Legal Form :	A closely held public limited liability company
Line of Business :	Subject is engaged in Printing and Publishing of Newspapers.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (67)

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 8400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an old and an established company engaged in printing and publishing of newspapers. Company is having good track. Financial position of the company appears to be sound. Trade relations are fair. Business is active. Payments of the company reported to be regular and as per commitments. The company can be considered good 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.

INFORMATION PARTED BY

Name :	Mr. Satish
Designation :	Account Department
Contact No.:	91-22-24820000
Date :	23.11.2011

LOCATIONS

Registered Office :	Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22856749 (4 Lines) / 22028211 / 25856749 / 24820000
Fax No.:	91-22-22028211 / 24820010
E-Mail :	dlokmat@bom3.vsnl.net.in companylaw@rediffmail.com devendarda@lokmat.com sskhare@lokmat.com dlokmat@vsnl.com dexd510@gmail.com editorial@lokmat.com adsales@lokmat.com corporate@lokmat.com
Website :	www.lokmat.com
Head Office :	Lokmat Bhavan, Pandit Jawaharlal Nehru Marg, P.O. No. 216, Nagpur – 440 012, Maharashtra, India
Tel. No.:	91-712-2523 527 (10 lines)
Fax No.:	91-712-2526 923 / 2445555
E-mail:	lokmat@bom2.vsnl.net.in
Corporate Office :	2^nd Floor, Nirlon, A B Road, Mumbai – 400 018, Maharashtra, India
Tel. No.:	91-22-24820000
Fax No.:	91-22-24820010
Business Representatives:	Located at : Kolkata, Ahmedabad, Indore, Bhopal, Coimbatore, Lucknow, Jaipur and Baroda
Branch Office :	Located At : · Nagpur · Aurangabad · Mumbai · Pune · Kolhapur · Nashik · Solapur · Jalgaon · Akola · Ahmednagar

DIRECTORS

As On 09.11.2010

Name :	Mr. Vijay Jawaharlal Darda
Designation :	Chairman cum Whole Time Director
Address :	‘Yavatmal House’, Rahate Colony, Pt. J.N. Marg, Nagpur, Maharashtra, India.
Date of Birth/Age :	14.05.1950
Qualification :	Diploma in Printing Technology
Director profile :	Mr. Darda is the chief visionary at Lokmat spearheading its growth over the last 35 years. Under his leadership, Lokmat has emerged as one of the leading media companies in India. His strategic vision, determination and decision-making abilities helped Lokmat rise from a small paper to the No.1 Marathi newspaper in the state.
Date of Appointment :	24.01.1974
DIN No.:	00009902

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	U99999MH1973PLC016613	Lokmat Media Limited	Whole-time director	21-10-10	24-01-74	-	Active	NO
2	U65990MH1981PTC025898	Darda Investment And Properties Private Limited	Managing director	21-12-81	21-12-81	-	Active	NO
3	U22120MH1985PTC035425	Prithvi Prakashan Private Limited	Director	20-02-85	20-02-85	-	Active	NO
4	U99999DL1951PLC002023	The Indian Newspaper Society.	Director	30-09-91	30-09-91	-	Active	NO
5	U51900MH1991PTC064483	Patliputra Exports Private Limited	Director	17-02-92	17-02-92	-	Active	NO
6	U45200MH1973PTC016819	Navketan Industrial Construction Private Limited	Director	15-07-92	15-07-92	-	Active	NO
7	U99999MH1992PTC068581	Bombay Wellprint Inks Private Limited	Director	17-09-92	17-09-92	20-12-02	Active	NO
8	U24999MH1948NPL006309	Audit Bureau of Circulations	Director	26-09-03	26-09-03	26-09-11	Active	NO
9	U40101MH2006PLC166285	JLD Yavatmal Energy Limited	Director	18-12-06	18-12-06	30-04-09	Active	NO
10	U70102MH2007PTC170569	VJD Realty Private Limited	Director	04-05-07	04-05-07	-	Active	NO
11	U65923DL2007PTC164598	IBN Lokmat News Private Limited	Director	15-09-08	27-08-07	-	Active	NO
12	U70102AP2005PTC048141	Cozy Properties Private Limited	Nominee director	06-11-07	05-11-07	-	Active	NO
13	U40109WB2002PLC162558	JAS Infrastructure And Power Limited	Director	30-09-08	15-11-07	04-09-10	Active	NO

Name :	Mr. Devendra Vijay Darda
Designation :	Managing Director
Address :	Yavatmal House’, Rahate Colony, Pt. J.N. Marg, Nagpur, Maharashtra, India.
Date of Birth/Age :	23.11.1974
Date of Appointment :	20.05.2002
DIN No.:	00319192

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	U21010MH1980PTC022587	Darda Printocrats Private Limited	Director	07-06-93	07-06-93	-	Active	NO
2	U99999MH1973PLC016613	Lokmat Media Limited	Managing director	21-10-10	20-05-02	-	Active	NO
3	U22120MH1985PTC035425	Prithvi Prakashan Private Limited	Director	18-06-02	18-06-02	-	Active	NO
4	U51900MH1991PTC064483	Patliputra Exports Private Limited	Director	18-06-02	18-06-02	-	Active	NO
5	U65990MH1981PTC025898	Darda Investment And Properties Private Limited	Director	26-09-03	26-09-03	-	Active	NO
6	U92100MH2005PTC153398	Providence Infrastructure Private Limited	Director	18-05-05	18-05-05	-	Active	NO
7	U99999DL1951PLC002023	The Indian Newspaper Society.	Director	29-09-05	29-09-05	-	Active	NO
8	U40101MH2006PLC166285	JLD Yavatmal Energy Limited	Director	18-12-06	18-12-06	30-04-09	Active	NO
9	U70102MH2007PTC170569	VJD Realty Private Limited	Director	04-05-07	04-05-07	-	Active	NO
10	U92190MH2007PTC172911	Airwave Entertainment Private Limited	Director	07-08-07	07-08-07	-	Active	NO
11	U65923DL2007PTC164598	IBN Lokmat News Private Limited	Director	15-09-08	27-08-07	-	Active	NO
12	U40109WB2002PLC162558	Jas Infrastructure And Power Limited	Director	30-09-08	15-11-07	14-10-10	Active	NO
13	U93090DL2008PTC175115	Asera Hospitality Private Limited	Director	11-03-08	11-03-08	-	Active	NO
14	U45400MH2008PTC187639	Asera Buildcon Private Limited	Director	20-10-08	20-10-08	-	Active	NO
15	U45202MH2009PTC195686	Great Asera Infrastructure Private Limited	Director	10-09-09	10-09-09	-	Active	NO
16	U92190MH2009PTC196077	Lokmat Entertainment Private Limited	Director	29-09-09	29-09-09	-	Active	NO
17	U45202MH2009PTC196142	Asera Infrastructure Private Limited	Director	30-09-09	30-09-09	-	Active	NO
18	U10300MH2009PTC196172	Asera Mining Private Limited	Director	01-10-09	01-10-09	-	Active	NO
19	U40109MH2009PTC196213	Asera Power Private Limited	Director	05-10-09	05-10-09	-	Active	NO
20	U40108MH2010PTC207992	Asera Banka Power Private Limited	Director	21-09-10	21-09-10	-	Active	NO
21	U24999MH1948NPL006309	Audit Bureau of Circulations	Director	26-09-11	26-09-11	-	Active	NO

Name :	Mr. Rishi Rajendra Darda
Designation :	Joint Managing Director
Address :	Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India.
Date of Birth/Age :	15.12.1978
Date of Appointment :	21.11.2001
DIN No.:	00293183

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45200MH1973PTC016819	Navketan Industrial Construction Private Limited	Director	15-07-92	15-07-92	Active	NO
2	U22120MH1985PTC035425	Prithvi Prakashan Private Limited	Director	21-07-97	21-07-97	Active	NO
3	U51900MH1991PTC064483	Patliputra Exports Private Limited	Director	08-08-98	08-08-98	Active	NO
4	U21010MH1980PTC022587	Darda Printocrats Private Limited	Director	08-08-99	08-08-99	Active	NO
5	U65990MH1981PTC025898	Darda Investment And Properties Private Limited	Director	21-11-01	21-11-01	Active	NO
6	U99999MH1973PLC016613	Lokmat Media Limited	Managing director	21-10-10	21-11-01	Active	NO
7	U63040MP1994PTC008810	Navketan Tours And Travels Private Limited	Managing director	05-05-04	05-05-04	Active	NO
8	U22100MH2004PTC147943	Regal Publications Private Limited	Director	26-07-05	26-07-05	Active	NO
9	U92190MH2007PTC172911	Airwave Entertainment Private Limited	Director	07-08-07	07-08-07	Active	NO
10	U65923DL2007PTC164598	IBN Lokmat News Private Limited	Director	15-09-08	27-08-07	Active	NO
11	U93090DL2008PTC175115	Asera Hospitality Private Limited	Director	11-03-08	11-03-08	Active	NO
12	U67120MH1993PTC074812	Mogra Scangraph Private Limited	Director	16-03-09	16-03-09	Active	NO
13	U45202MH2009PTC195686	Great Asera Infrastructure Private Limited	Director	10-09-09	10-09-09	Active	NO
14	U92190MH2009PTC196077	Lokmat Entertainment Private Limited	Director	29-09-09	29-09-09	Active	NO
15	U45202MH2009PTC196142	Asera Infrastructure Private Limited	Director	30-09-09	30-09-09	Active	NO
16	U10300MH2009PTC196172	Asera Mining Private Limited	Director	01-10-09	01-10-09	Active	NO
17	U40109MH2009PTC196213	Asera Power Private Limited	Director	05-10-09	05-10-09	Active	NO
18	U45205MH2010PTC201400	Ignite Properties Private Limited	Director	29-03-10	29-03-10	Active	NO

Name :	Mr. Ramesh Sukhraj Bora
Designation :	Director
Address :	Plot No. 2, Purohit Layout, Ambazari, Nagpur – 440 010, Maharashtra ,India
Date of Birth/Age :	02.11.1939
Date of Appointment :	01.10.2003
DIN No.:	00299249

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	U99999MH1973PLC016613	Lokmat Media Limited	Director	19-11-03	19-11-03	06-12-10	Active	NO
2	U62200MH2007PTC169811	Vidarbha Aviation Private Limited	Director	10-04-07	10-04-07	-	Active	NO
3	U45400MH2007PTC171695	Black Soil Developers Private Limited	Director	15-06-07	15-06-07	-	Active	NO
4	U01403MH2007PTC172513	Gold Soil Agro Private Limited	Director	19-07-07	19-07-07	-	Active	NO
5	U01119MH2007PTC172650	Black Diamond Agro Private Limited	Director	27-07-07	27-07-07	-	Active	NO
6	U01403MH2007PTC172886	Yavatmal Agro Private Limited	Director	06-08-07	06-08-07	-	Active	NO
7	U01403MH2007PTC174078	Goverdhan Enviro Farms Private Limited	Director	16-10-07	16-10-07	-	Active	NO
8	U01403MH2007PTC174342	Goverdhan Agro Farms Private Limited	Director	12-11-07	12-11-07	-	Active	YES
9	U01403MH2008PTC179908	Amaltash Agro Private Limited	Director	10-03-08	10-03-08	-	Active	NO
10	U01403MH2008PTC180043	Red Papaya Growers Private Limited	Director	13-03-08	13-03-08	-	Active	NO
11	U74999MH2008PTC187633	Rajnigandha Growers Private Limited	Director	20-10-08	20-10-08	-	Active	NO
12	U74999MH2008PTC187634	Pink Banana Farms Private Limited	Director	20-10-08	20-10-08	-	Active	NO
13	U51109MH2009PTC189659	Asera Commerce Private Limited	Director	16-01-09	16-01-09	-	Active	NO
14	U93090DL2008PTC175115	Asera Hospitality Private Limited	Director	24-09-10	21-12-09	-	Active	NO

Name :	Mr. Bharat Karsandas Kapadia
Designation :	Whole Time Director
Address :	103, Oyster Shell, 1^st Floor, Mumbai-400049, Maharashtra, India
Date of Birth/Age :	07.12.1962
Date of Appointment :	01.01.2009
DIN No.:	00876378

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	U99999MH1986PTC039534	Chitralekha Printers and Publishers Private Limited	Director	10-04-86	10-04-86	07-05-08	Active	NO
2	U99999MH1994NPL076530	Media Research Users Council	Director	29-09-05	29-09-05	-	Active	NO
3	U72200MH1996PTC205798	Ideawings Townships Developers Private Limited	Director	08-09-06	08-09-06	22-01-11	Active	NO
4	U72900MH2008PTC181641	whatuwant solutions Private Limited	Director	25-04-08	25-04-08	-	Active	NO
5	U99999MH1973PLC016613	Lokmat Media Limited	Whole-time director	01-01-09	01-01-09	06-12-10	Active	NO

Name :	Mr. Karan Rajendra Darda
Designation :	Executive Director
Address :	Lokmat Bhavan, Jalna Road, Aurangabad, Maharashtra, India
Date of Birth/Age :	25.05.1983
Date of Appointment :	01.04.2009
DIN No.:	01211502

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45200MH1973PTC016819	Navketan Industrial Construction Private Limited	Director	15-01-04	15-01-04	Active	NO
2	U22120MH1985PTC035425	Prithvi Prakashan Private Limited	Director	01-04-05	01-04-05	Active	NO
3	U67120MH1993PTC074812	Mogra Scangraph Private Limited	Director	01-04-05	01-04-05	Active	NO
4	U21010MH1980PTC022587	Darda Printocrats Private Limited	Director	01-04-05	01-04-05	Active	NO
5	U51900MH1991PTC064483	Patliputra Exports Private Limited	Director	01-04-05	01-04-05	Active	NO
6	U63040MP1994PTC008810	Navketan Tours And Travels Private Limited	Director	05-05-05	05-05-05	Active	NO
7	U22100MH2004PTC147943	Regal Publications Private Limited	Director	26-07-05	26-07-05	Active	NO
8	U99999MH1973PLC016613	Lokmat Media Limited	Whole-time director	21-10-10	01-04-09	Active	NO
9	U45205MH2010PTC201400	Ignite Properties Private Limited	Director	29-03-10	29-03-10	Active	NO
10	U40108MH2010PTC207992	Asera Banka Power Private Limited	Director	21-09-10	21-09-10	Active	NO

KEY EXECUTIVES

Name :	Mr. Amit Bhatia
Designation :	Company Secretary
Address :	3/A, Neelkanth Apartment, Opposite Chitra Building, S.V.P. Road, Kandivali (West), Mumbai, India
Date of Birth/Age :	25.05.1979
Date of Appointment :	25.10.2010
PAN No.:	AIUPB1503B
Name :	Mr. Nilesh Jain
Designation :	Partaking Company Secretary
Address:	Durgaia Raod, Sadar, Nagpur – 440001, Maharashtra, India
Name :	Mr. Satish
Designation :	Account Department
Name :	Mr. Jwalant Swaroop
Designation :	Chief Operating Officer (Publishing)
Name :	Mr. Omprakash Kela
Designation :	Senior Vice President
Name :	Mr. Bijoy Sreedhar
Designation :	Vice President – Business Development
Name :	Mr. Mandir Tendolkar
Designation :	Vice President – Communications
Name :	Ms. Pritti Kumar
Designation :	Chief Executive Officer and Editor, G2 – The Global Gujarati
Name :	Mr. Ashok Jain
Designation :	Director – Operations
Name :	Mr. Dinkar Raikar
Designation :	Group Editor
Name :	Mr. Mohan Joshi
Designation :	Finance Controller
Name :	Mr. Pradeep Nair
Designation :	Vice President – Human Resources
Name :	Mr. Girish Misra
Designation :	Editor, Lokmat Samachar
Name :	Mr. Vasant Aware
Designation :	Assistant Vice President – Circulation

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 09.11.2010

Names of Shareholders	No. of Shares
Vijay J. Darda	288861
Jyotsna V. Darda	172350
Rajendra J. Darda	342211
Devendra Darda	115000
Ashoodevi Darda	78000
Rishi Darda	78000
Karan Darda	78000
Total	1152422

As on 09.11.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Printing and Publishing of Newspapers.

Product :

Product Description	Item Code
Newspapers	490

Terms :

Selling :

Credit

Purchasing :

Credit

PRODUCTION STATUS : (As on 31.05.2010)

Particulars	Installed Capacity	Actual Production
Newspaper	831000	623733122

GENERAL INFORMATION

No. of Employees :

100 (Approximately)

Bankers :

· Bank of India, Sitaburdi Branch, Mumbai - 400 002

· The Tirupati Urbam Co-operative Bank Limited, Mumbai

· State Bank of Mysore, Nagpur, Maharashtra

· Bank of India, Ahmedabad, Gujarat

· Bank of India, Akola, Maharashtra

· Bank of India, Aurangabad, Maharashtra

· Bank of India, Bhusawal, Maharashtra

· Bank of India, Bhandara, Maharashtra

· Bank of India, Dhule, Maharashtra

· Bank of India, Delhi

· Bank of India, Jalgaon, Maharashtra

· Bank of India, Malegaon, Maharashtra

· Bank of India, Mumbai

· Bank of India, Pune, Maharashtra

· Bank of India, Wardha, Maharashtra

· Bank of India, Yavatmal, Maharashtra

· Bank of India, Nagpur Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur- 440001, Maharashtra, India.

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

· Bank of Baroda, Sitaburdi Branch, Mumbai – 400002, Maharashtra, India

Facilities :

Secured Loans	31.05.2010 Rs. In Millions	31.05.2009 Rs. In Millions
From Banks
Cash Credit Account	98.201	85.805
Term Loans	178.954	286.094
Demand Loan	30.935	35.128
Total	308.091	407.027
Note: 1. Cash Credit Account is secured by Hypothecation of Stock in Trade, Stores and Book Debts and Personal Guarantee of Two Directors. 2. Term Loans from Banks are secured by Equitable mortgage of land, building at Nashik, Shendra, Nanded, Kolhapur, Mumbai Unit, and hypothecation of plant and machinery at Butibori, Pune, Nashik, Aurangabad, Shendra, Solapur Kolhapur and Mumbai units and computers and furniture fixtures and vehicles acquired form such loans and personal guarantee of Two directors. 3. Demand loans is secured against Lien of F.d. Receipts.
Unsecured Loans	31.05.2010 Rs. In Millions	31.05.2009 Rs. In Millions
From Shareholders	0.000	9.500
Total	0.000	9.500

Banking Relations :	--
Auditors :
Name :	M. M. Jain and Associates Chartered Accountants
Address :	202, Shri Mohini, Kingsway, Nagpur - 440 001, Maharashtra, India
Subsidiaries:	Lokmat Enterprises Private Limited
Associates :	· Darda Investment and Properties Private Limited · Media World Enterprises · Devendra Printers · Prithvi Vandan · Darda Printocrafts Private Limited. · Mogra Scangraph Private Limited. · Regal Publication Private Limited. · Airwave Entertainment Private Limited. · Prithvi Prakashan Private Limited.
Joint Ventures :	IBN-Lokmat News Private Limited

CAPITAL STRUCTURE

After 09.11.2010

Authorised Capital : Rs.750.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.414.872 Millions

As on 31.05.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- Each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1152422	Equity Shares	Rs.10/- Each	Rs.11.524 Millions

Note :

Of the above

1. 400000 Equity shares allotted as fully paid by way of Bonus Shares by Capitalization of Reserves

2. 467600 Equity Shares are allotted as fully paid up shares to the shareholders of Prithvi Prakashan Private Limited on demerger with the company.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.05.2010	31.05.2009	31.05.2008
SHAREHOLDERS FUNDS
1] Share Capital		11.524	6.848	6.848
2] Share Application Money		0.000	4.676	0.000
3] Reserves & Surplus		2088.951	1855.486	899.716
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2100.475	1867.010	906.564
LOAN FUNDS
1] Secured Loans		308.091	407.027	456.315
2] Unsecured Loans		0.000	9.500	0.000
TOTAL BORROWING		308.091	416.527	456.315
DEFERRED TAX LIABILITIES		72.029	30.749	30.514
TOTAL		2480.595	2314.286	1393.393
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1087.680	1158.176	525.769
Capital work-in-progress		16.784	24.691	2.333
INVESTMENT		245.175	323.965	87.201
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	253.727	223.905	158.599
	Sundry Debtors	712.717	526.065	479.485
	Cash & Bank Balances	381.159	332.486	258.145
	Other Current Assets	10.685	22.604	15.395
	Loans & Advances	1036.862	466.125	417.972
Total Current Assets		2395.150	1571.185	1329.596
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	110.628	107.750	25.945
	Other Current Liabilities	306.921	290.841	308.971
	Provisions	846.645	365.140	216.590
Total Current Liabilities		1264.194	763.731	551.506
Net Current Assets		1130.956	807.454	778.090
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2480.595	2314.286	1393.393

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.05.2010	31.05.2009	31.05.2008
	SALES
		Income	3809.610	2300.962	1683.663
		Other Income	50.960	21.729	119.621
		TOTAL (A)	3860.570	2322.691	1803.284
Less	EXPENSES
		Raw material consumed	1543.250	946.386
		Employees Cost	560.131	331.375	1254.359
		Operating and Other Expenses	686.471	343.877
		Prior Period Expenses	0.793	0.000
		Exceptional Items	7.610	0.000
		TOTAL (B)	2798.255	1621.638	1254.359
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1062.315	701.053	548.925
Less	FINANCIAL EXPENSES (D)		29.489	49.027	35.652
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1032.826	652.026	513.273
Less/ Add	DEPRECIATION/ AMORTISATION (F)		159.599	95.631	65.570
	PROFIT BEFORE TAX (E-F) (G)		873.227	556.395	447.703
Less	TAX (I)		112.686	148.786	124.520
	PROFIT AFTER TAX (G-I) (J)		588.947	407.609	323.183
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		350.735	3.119	4.042
Add	Transfer to Revaluation Reserve		0.006	0.007	0.008
Less	APPROPRIATIONS
		Tax on Dividend	41.863	0.000	80.444
		Dividend on Equity Shares	249.730	0.000	13.670
		Transfer to General Reserve	59.000	60.000	230.000
	BALANCE CARRIED TO THE B/S		589.095	350.735	3.119
	IMPORTS
	Raw Materials		357.709	88.279	NA
	Components and Spare Parts		0.000	11.674	NA
	Capital Goods		6.331	0.000	NA
	TOTAL IMPORTS		364.040	99.953	NA
	Earnings Per Share (Rs.)		511.05	595.20	471.92

Particulars	31.05.2011
Sales Turnover (Approximately)	4000.000 (Business is increased)

The above information has been parted by Mr. Satish.

KEY RATIOS

PARTICULARS		31.05.2010	31.05.2009	31.05.2008
PAT / Total Income	(%)	15.25	17.71	17.92
Net Profit Margin (PBT/Sales)	(%)	22.92	24.18	26.59
Return on Total Assets (PBT/Total Assets)	(%)	25.07	20.39	24.13
Return on Investment (ROI) (PBT/Networth)		0.42	0.30	0.49
Debt Equity Ratio (Total Liability/Networth)		0.74	0.63	1.11
Current Ratio (Current Asset/Current Liability)		1.89	2.06	2.41

LOCAL AGENCY FURTHER INFORMATION

THE DETAILS OF SUNDRY CREDITORS

Rs. In Millions

Particulars	31.05.2010	31.05.2009	31.05.2008
Sundry Creditors	110.628	107.750	25.945

Sr. No.	Check List by Info Agents
1.	Year of Establishment	YES
2.	Locality of the firm	YES
3.	Constitutions of the firm	YES
4.	Premises details	YES
5.	Type of Business	YES
6.	Line of Business	YES
7.	Promoter’s background	--
8.	No. of employees	YES
9.	Name of person contacted	YES
10.	Designation of contact person	YES
11.	Turnover of firm for last three years	YES
12.	Profitability for last three years	--
13.	Reasons for variations <> 20%	--
14.	Estimation for coming financial year	NO
15.	Capital in the business	NO
16.	Details of sister concerns	YES
17.	Major Suppliers	NO
18.	Major Customers	NO
19.	Payment terms	YES
20.	Export / Import details (is applicable)	--
21.	Market information	--
22.	Litigation that the firm / promoter involved in	--
23.	Banking Details	YES
24.	Banking facility details	NO
25.	Conduct of the banking account	--
26.	Buyer visit details	--
27.	Financials, if provided	NO
28.	Incorporation details, if applicable	--
29.	Last accounts filed at ROC	--
30.	Major Shareholders, is available	--

FINANCIAL PERFORMANCE

The company posted another year of impressive results testifying to the robustness of the corporate strategy of creating multiple drivers of growth. The company recorded a Net Profit after tax Rs. 588.946 during the year as against a Net Profit of Rs. 407.608 millions during the previous financial year. In the years to come the company is looking forward to give to its valuable shareholders continued growth and profits.

SUBSIDIARIES

The Company has two subsidiaries viz. Asera Power Private Limited and Lokmat Entertainment Private Limited.

The Company has sold its entire holding of Rs. 99,000/- equity shares representing 99% of the capital of Airwave Entertainment Private Limited (AEPL) to Darda Investment and Properties Private Limited at Rs. 10 per share. With the completion of the said sale on 31st May 2010 AEPL ceased to be a subsidiary of the Company. Consequently Prithvi Prakashan Private Limited subsidiary of AEPL also ceased to be a subsidiary of the Company.

FORM 8

Corporate identity number of the company	U99999MH1973PTC016613
Name of the company	LOKMAT NEWSPAPERS LIMITED
Address of the registered office or of the principal place of business in India of the company	Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India
This form is for	Modification of Charge
Charge identification number of the charge to be modified	10221777
Type of charge	Movable Property
Particular of charge holder	Bank of India, Nagpur Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur- 440001, Maharashtra, India
Nature of instrument creating charge	Supplemental Deed of Hypothecation
Date of instrument Creating the charge	14.10.2010
Amount secured by the charge	Rs. 334.800 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term Loan I and II : At 4% below BPLR, Present effective rate 8.50% p.a. with monthly rests. Terms of Repayment Term Loan I and II: Repayable in 10 half yearly installments of Rs. 33.400 Millions, commencing form December 2010(Last Installments is of Rs. 34.200 Millions) Margin Term Loan : 25% Extent and Operation of the charge The charge operate as security on the plant and machinery of the company
Short particulars of the property charged	Hypothecation of plant and machinery proposed to be purchased out of this term loan.
Date of instrument modifying the charge	23.04.2010
Particulars of the present modification	By present modification the bank has sanctioned the new term loan of Rs. 90.000 Millions. Thus Total Term Loan facilities stand at Rs. 334.800 Millions. The Bifurcation of credit facility are as under: Term Loan I: Rs. 244.800 Millions Term Loan II: Rs. 90.000 Millions Total : Rs. 334.800 Millions.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

· Data Processing Equipments.

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] 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.52.70
UK Pound	1	Rs.82.44
Euro	1	Rs.71.07

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--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		67

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.