MIRA
INFORM REPORT
|
Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEDIA STAR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
20, Vaswani Mansion, 120, Dinshaw Vachha Road, Churchgate, Mumbai-400020, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.07.2001 |
|
|
|
|
Com. Reg. No.: |
11-132605 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.700
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH2001PTC132605 |
|
|
|
|
Legal Form : |
Private Limited Liability |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of distribution of books, magazines, newspapers and other similar products, media representation etc. |
|
|
|
|
No. of Employees
: |
45 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 78000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Jashanmal
National Company LLC. It is an established company having satisfactory track.
There appears some dip in the profitability during 2011. Financial position of the company appears to improving slowly. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Mrs. Meena Ravi Lalwani |
|
Designation : |
Director |
|
Contact No.: |
91-22-22815538 |
|
Date : |
16.08.2012 |
LOCATIONS
|
Registered Office : |
20, Vaswani Mansion, 120, Dinshaw Vachha Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Tel. No.: |
91-22-22815538 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ravi Bhagchand
Lalwani |
|
Designation : |
Director |
|
Address : |
3, Hampton Court, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
27.05.1955 |
|
Date of Appointment : |
03.07.2001 |
|
Din No.: |
00153431 |
|
|
|
|
Name : |
Mrs. Meena Ravi Lalwani |
|
Designation : |
Director |
|
Address : |
3, Hampton Court, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1955 |
|
Date of Appointment : |
03.07.2001 |
|
Din No.: |
00153398 |
|
|
|
|
Name : |
Gangu Nenumal Batra |
|
Designation : |
Director |
|
Address : |
P O Box 1545, Dubai, UAE |
|
Date of Birth/Age : |
19.05.1930 |
|
Date of Appointment : |
26.03.2001 |
|
Din No.: |
02190447 |
|
|
|
|
Name : |
Jhangiani Tony Naraindas Jashanmal |
|
Designation : |
Director |
|
Address : |
P O Box 5138, Dubai, UAE |
|
Date of Birth/Age : |
26.05.1947 |
|
Date of Appointment : |
26.03.2003 |
|
Din No.: |
02198970 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ravi Bhagchand Lalwani |
|
292100 |
|
Meena Ravi Lalwani |
|
183200 |
|
Jashanmal National Company LLC, Dubai, UAE |
|
494700 |
|
|
|
|
|
Total |
|
970000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Directors
or relatives of directors |
|
49.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of distribution of books, magazines, newspapers and other similar products, media representation etc. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Magazines |
||||||
|
Countries : |
·
USA ·
UK |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
45 [Approximately] |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Dutchess Bank, Churchgate
Branch, Mumbai, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg,
Shivaji Park, Dadar,
Mumbai-400028, Maharashtra, India |
|
Pan No.: |
AAFFP3698A |
|
|
|
|
Holding Company : |
Jashanmal National Company LLC, Dubai, UAE |
|
|
|
|
Related Parties : |
·
Media Star Publishing Private Limited ·
Media Star ·
Media Star Publishing ·
Dawson Media Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
970000 |
Equity Shares |
Rs.10/- each |
Rs.9.700
Millions |
NOTE: 494700 equity shares are held by Jashanmal National Company, LLC, the holding company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.700 |
9.700 |
9.700 |
|
|
2] Share Application Money |
0.153 |
0.153 |
0.153 |
|
|
3] Reserves & Surplus |
9.765 |
5.018 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(4.831) |
|
|
NETWORTH |
19.618 |
14.871 |
5.022 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
29.752 |
35.119 |
39.332 |
|
|
TOTAL BORROWING |
29.752 |
35.119 |
39.332 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
49.370 |
49.990 |
44.354 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.859 |
2.974 |
3.535 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.348 |
1.522 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.157
|
27.371 |
27.535 |
|
|
Sundry Debtors |
93.730
|
91.529 |
108.235 |
|
|
Cash & Bank Balances |
6.177
|
12.134 |
7.713 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.100
|
6.920 |
6.507 |
|
Total
Current Assets |
134.164
|
137.954 |
149.990 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
78.640
|
84.834 |
99.869 |
|
|
Other Current Liabilities |
7.559
|
4.875 |
6.146 |
|
|
Provisions |
2.802
|
2.751 |
3.156 |
|
Total
Current Liabilities |
89.001
|
92.460 |
109.171 |
|
|
Net Current Assets |
45.163
|
45.494 |
40.819 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
49.370 |
49.990 |
44.354 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
156.595 |
145.382 |
137.405 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
149.523 |
137.127 |
150.309 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
149.523 |
137.127 |
150.309 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
7.072 |
8.255 |
(12.904) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.324 |
(1.594) |
0.369 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
4.748 |
9.849 |
(13.273) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.018 |
(4.831) |
8.442 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.766 |
5.018 |
(4.831) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Goods |
0.000 |
0.467 |
0.012 |
|
|
|
Distribution Charges |
0.000 |
2.175 |
2.314 |
|
|
TOTAL EARNINGS |
0.000 |
2.642 |
2.326 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
86.224 |
74.872 |
56.785 |
|
|
|
Capital Goods |
0.131 |
0.881 |
0.000 |
|
|
TOTAL IMPORTS |
86.355 |
75.753 |
56.785 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.89 |
10.15 |
(13.68) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.03
|
6.77 |
(9.65) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.16
|
5.99 |
(8.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.55 |
(2.57) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.05
|
8.57 |
29.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.49 |
1.37 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
31.03.2009 (Rs.
in millions) |
|
Sundry Creditors NOTE: [The company is
in process of identifying micro, small and medium enterprises as defined under
the micro small and medium enterprises development act, 2006. Therefore, it
is not possible for the company to ascertain whether the payment to such
enterprises has been done within 45 days from the date of acceptance of
supply of goods or services rendered by such enterprise and to make requisite
disclosure.] |
78.640
|
84.834 |
99.869 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
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 |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31) PAN
of Proprietor/Partner/Director, if available |
No |
|
32) Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33) Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
No |
OPERATIONS AND OUTLOOK:
The company achieved sales and other revenue
of Rs.156.590 Millions for the year as compared to Rs.134.940 Millions
(Excluding foreign exchange gain) for the previous year, registering a growth
of 16.05%. The company has achieved Rs.7.070 Millions of net profit before
taxation as compared to Rs.8.250 Millions for the previous year.
COMPANY OVERVIEW AND NATURE OF OPERATIONS:
The Company is a
Small and Medium Sized Company (SMC) as defined in the General Instructions in respect
of Accounting Standards notified under the Companies Act, 1956. Accordingly,
the Company has complied with the Accounting Standards a5 applicable to a Small
and Medium Sized Company.
Subject was
incorporated on July 3, 2001 and is engaged in the business of distribution of books, magazines, newspapers and other
similar products, media representation etc.
FIXED ASSETS:
·
Computers
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Computer Software
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.55.99 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
42 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.