%20PRIVATE%20LIMITED%20-%20168425%2004-Feb-2012_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
04.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
READERS DIGEST BOOK AND HOME ENTERTAINMENT
(INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
"Sankalp" C-227, Ground Floor, Paryavaran Complex, Westend
Marg, Near Garden of Five Senses, New Delhi – 110030 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.06.2005 |
|
|
|
|
Com. Reg. No.: |
55-137072 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.174 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22110DL2005PTC137072 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Books |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company has incurred a loss in the current year. However, Net Worth appears
to be satisfactory. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company can be considered normal 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Rajesh |
|
Designation : |
Manager |
|
Contact No.: |
91-22-30843624 |
|
Date : |
02.02.2012 |
LOCATIONS
|
Registered Office : |
"Sankalp" C-227, Ground Floor, Paryavaran Complex, Westend
Marg, Near Garden of Five Senses, New Delhi – 110030, India |
|
Tel. No.: |
91-11-29536312 |
|
Fax No.: |
91-11-29536312 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
515, Palm Spring Centre, Malad Link Road, Malad (West0, Mumbai –
400064, Maharashtra, India |
|
Tel No.: |
91-22-30843624 / 30843611 |
|
Fax No.: |
91-22-30843624 / 30843699 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jeremy Marc Jacobs |
|
Designation : |
Director |
|
Address : |
7,The Woods Radlett, Hertfordshire, Australia, WD77HF |
|
Date of Birth/Age : |
08.04.1961 |
|
Date of Appointment : |
08.12.2009 |
|
DIN No.: |
02888148 |
|
|
|
|
Name : |
Mr. Lance Kenneth Wright Christie |
|
Designation : |
Director |
|
Address : |
2, Marina Boulevard, #31-04, The Sail, Marina Bay, Singapore, 01898 |
|
Date of Birth/Age : |
02.06.1965 |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
03525499 |
|
|
|
|
Name : |
Mr. Cherumuttath Mathew Joy |
|
Designation : |
Director |
|
Address : |
Flat No.201, Samruddhi TPS III, Road No.1, Santacruze (East), Mumbai –
400055, Maharashtra, India |
|
Date of Birth/Age : |
30.11.1956 |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
03389556 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Readers Digest Association Inc USA, USA |
|
2017449 |
|
Readers Digest Association Far East Limited, Hong Kong |
|
1 |
|
Total |
|
2017450 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Books. |
|
|
|
|
Products : |
·
Books ·
Music |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
·
The Hong Kong and Shanghai Banking Corporation
Limited, 25 Barakhambha Road, New Delhi - 110001, India ·
State Bank of Patiala, Shop No. 4, Mahapalika
Market, Mid Chowki, Link Road, Malad (West), Mumbai-400064, Maharashtra,
India |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
14th Floor , The Ruby 29
Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
PAN.: |
ABSFS4151K |
|
|
|
|
Holding Company : |
Readers Digest Association Inc, USA |
|
|
|
|
Fellow Subsidiaries : |
·
Readers Digest Asia Pte. Limited, Singapore ·
Readers Digest Far East Association Limited, Hong
Kong ·
Selection Du Reader’s Digest (Canada) ULC, Canada |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2100000 |
Equity Shares |
Rs.10/- each |
Rs.21.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2017450 |
Equity Shares |
Rs.10/- each |
Rs.20.174
Millions |
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 |
20.174 |
20.174 |
20.174 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.869 |
34.526 |
17.409 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.043 |
54.700 |
37.583 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
0DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
39.043 |
54.700 |
37.583 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.280 |
2.782 |
2.961 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.225 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
31.246 |
26.840 |
32.235 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
138.470
|
189.814 |
151.136 |
|
|
Sundry Debtors |
126.036
|
144.978 |
148.452 |
|
|
Cash & Bank Balances |
27.909
|
26.002 |
19.954 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
39.881
|
30.707 |
15.790 |
|
Total
Current Assets |
332.296
|
391.501 |
335.332 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
286.483 |
327.139 |
287.251 |
|
|
Other Current Liabilities |
13.455
|
12.821 |
45.146 |
|
|
Provisions |
25.841
|
26.463 |
0.773 |
|
Total
Current Liabilities |
325.779
|
366.423 |
333.170 |
|
|
Net Current Assets |
6.517
|
25.078 |
2.162 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.043 |
54.700 |
37.583 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
596.497 |
559.977 |
|
|
|
|
Other Income |
3.913 |
0.942 |
|
|
|
|
TOTAL |
600.410 |
559.977 |
683.044 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
620.473 |
537.979 |
638.598 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(20.063) |
21.998 |
44.446 |
|
|
|
|
|
|
|
|
|
|
TAX |
(4.406) |
4.881 |
16.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(15.657) |
17.117 |
28.232 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
34.526 |
17.409 |
(10.823) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
18.869 |
34.526 |
17.409 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at F.O.B. Value |
1.967 |
2.351 |
2.511 |
|
|
|
Recovery Expense |
3.502 |
7.997 |
0.000 |
|
|
TOTAL EARNINGS |
5.469 |
10.348 |
2.511 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
172.976 |
204.246 |
154.036 |
|
|
|
Promotion Material |
4.486 |
5.219 |
0.000 |
|
|
TOTAL IMPORTS |
177.462 |
209.465 |
154.036 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(7.76) |
8.48 |
13.99 |
|
%20PRIVATE%20LIMITED%20-%20168425%2004-Feb-2012_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20168425%2004-Feb-2012_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20168425%2004-Feb-2012_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20168425%2004-Feb-2012_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.61)
|
3.06 |
4.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.36)
|
3.93 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.01)
|
5.58 |
13.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.51)
|
0.40 |
1.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.34
|
6.70 |
8.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.07 |
1.01 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Total Outstanding dues of Micro Small
Enterprises |
0.000 |
0.000 |
0.000 |
|
Total Outstanding dues of Creditors other
than Micro and Small Enterprises |
286.483 |
327.139 |
287.251 |
|
Total |
286.483 |
327.139 |
287.251 |
Future
Outlook:
As a full-fledged production hub of the parent company the company is
expected to continue to play an important role in the future plans of the
parent company. As the operations of the parent company increase the company would also expand with additional
hiring to meet additional delivery demands.
Note:
The registered office of the company has been shifted from “C-88/89.
Paryavaran Complex, NewDelhi – 110030, India” to the present address w.e.f.
01.01.2010.
Form 8:
|
Corporate identity
number of the company |
U22110DL2005PTC137072 |
|
Name of the
company |
READERS DIGEST
BOOK AND HOME ENTERTAINMENT (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
"Sankalp" C-227, Ground Floor, Paryavaran Complex, Westend
Marg, Near Garden of Five Senses, New Delhi – 110030, India E-mail ; rajesh_mundra@readersdigest.com
|
|
This form is for
|
Creation of charge |
|
Type of charge |
Others
(Hypothecation of Fixed Deposits Receipts) |
|
Particular of
charge holder |
State Bank of
Patiala, Shop No. 4, Mahapalika Market, Mid Chowki, Link Road, Malad (West),
Mumbai-400064, Maharashtra, India E-Mail : b5811@sbp.co.in |
|
Nature of
instrument creating charge |
Bank Guarantee
dated 22.07.2011 issued by State Bank of Patiala against Hypothecation of two
Fixed Deposits Receipts of Rs. 9.000 Millions and 1.000 Million |
|
Date of
instrument Creating the charge |
22.07.2011 |
|
Amount secured
by the charge |
Rs.10.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per the Bank Guarantee dated 22.07.2011 and as per policy of Bank Terms of repayment As per the Bank Guarantee dated 22.07.2011 and as per policy of Bank Margin 100% Extent and operation of the charge 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Two Fixed
Deposits Receipts of Rs. 9.000 Millions and 1.000 Million |
Fixed Assets:
·
Furniture and Fixtures
·
Motor Car
·
Computer Equipments
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
|
1 |
Rs.77.47 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.