|
Report Date : |
27.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SOL PRODUCTION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-40, 3rd Floor, Shree Baba Nagar, St. Peter’s Road, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.12.2007 |
|
|
|
|
Com. Reg. No.: |
11-176475 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.210 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92120MH2007PTC176475 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS60043E / MUMS57874F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS3850N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of Media and Entertainment. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
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 240000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. The company
has incurred some losses in the current year. However, networth appears to be
satisfactory. Trade relations are 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 PARTED BY
|
Name : |
Mr. Amul |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-26451352 |
|
Date : |
23.02.2012 |
LOCATIONS
|
Registered Office : |
B-40, 3rd Floor, Shree Baba Nagar, St. Peter’s Road, Off |
|
Tel. No.: |
91-22-26451352 / 53 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Kamna Menezes |
|
Designation : |
Joint Managing Director |
|
Address : |
803/804, |
|
Date of Birth/Age : |
13.11.1972 |
|
Date of Appointment : |
11.01.2008 |
|
PAN No : |
AAIPN8061A |
|
DIN No : |
01990714 |
|
|
|
|
Name : |
Mr. Fazila Shabudin Allana |
|
Designation : |
Managing Director |
|
Address : |
301, |
|
Date of Birth/Age : |
20.05.1970 |
|
Date of Appointment : |
11.01.2008 |
|
PAN No : |
ADZPA5965E |
|
DIN No : |
01990719 |
KEY EXECUTIVES
|
Name : |
Mr. Amul |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Kamna Menezes |
4116 |
|
Fazila shubudin Allana |
6174 |
|
Jarowskij Media AB, Sweden |
7000 |
|
Zodiac Television AB, Sweden |
3710 |
|
Total |
21000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of Media and Entertainment. |
|
|
|
|
Products : |
TV Software Production |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Contractor Nayak and Kishnadwala Chartered Accountant |
|
Address : |
Jash Chambers, 3rd Floor, 7, Sir P M Road, Fort,
Mumbai-400001, Maharashtra, India |
|
Tel. No.: |
91-22-66230600 / 22662603 / 66359681 |
|
Fax No.: |
91-22-22615814 |
|
Pan No.: |
AACFC8587E |
|
|
|
|
Fellow Subsidiaries : |
·
Jarowskij Media AB ·
Zodiak Television AB ·
Zodiak Rights Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000 |
Equity Shares |
Rs.10/- each |
Rs.0.450 Million |
|
5000 |
Preference Shares |
Rs.10/- each |
Rs. 0.050 Million |
|
|
Total |
|
Rs. 0.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000 |
Equity Shares |
Rs.10/- each |
Rs. 0.210
Million |
|
|
|
|
|
Note:
Out of the above
Equity Shares,10710 Equity shares (Previous year: 7,350 Equity Shares) are held
by Zodiak Entertainment AB (Ultimate Holding Company) and other group 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 |
0.210 |
0.210 |
0.210 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
60.219 |
61.618 |
58.199 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
60.429 |
61.828 |
58.409 |
|
|
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 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
3.437 |
2.183 |
|
|
|
|
|
|
|
|
TOTAL |
60.429 |
65.265 |
60.592 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
42.468 |
48.071 |
54.097 |
|
|
Capital work-in-progress |
0.148 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.659 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
83.775
|
99.617
|
122.575 |
|
|
Cash & Bank Balances |
11.114
|
19.218
|
0.876 |
|
|
Other Current Assets |
99.003
|
5.573
|
19.743 |
|
|
Loans & Advances |
71.339
|
32.103
|
15.871 |
|
Total
Current Assets |
265.231
|
156.511 |
159.065 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
130.974
|
65.785
|
81.551 |
|
|
Other Current Liabilities |
116.289
|
73.131
|
70.829 |
|
|
Provisions |
0.814
|
0.401
|
0.190 |
|
Total
Current Liabilities |
248.077
|
139.317 |
152.570 |
|
|
Net Current Assets |
17.154
|
17.194
|
6.495 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.429 |
65.265 |
60.592 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
420.009 |
370.168 |
360.045 |
|
|
|
Other Income |
1.077 |
0.570 |
0.000 |
|
|
|
TOTAL (A) |
421.086 |
370.738 |
360.045 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Production Cost |
374.778 |
336.614 |
310.046 |
|
|
|
Personnel Cost |
12.307 |
7.601 |
0.000 |
|
|
|
Administrative, Selling Expenses |
23.850 |
9.605 |
14.537 |
|
|
|
TOTAL (B) |
410.935 |
353.820 |
324.583 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.151 |
16.918 |
35.462 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.042 |
6.012 |
3.331 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.109 |
10.906 |
32.131 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.245 |
6.233 |
6.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(2.136) |
4.673 |
25.870 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.737) |
1.254 |
9.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1.399) |
3.419 |
16.852 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.243 |
16.824 |
(0.028) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
18.844 |
20.243 |
16.824 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(66.62) |
162.81 |
832.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.33)
|
0.92
|
4.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.51)
|
1.26
|
7.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.69)
|
2.28
|
12.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
0.08
|
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.11
|
2.31
|
2.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.12
|
1.04 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
Yes |
|
13. Reasons for variation <> 20% |
------ |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
No |
|
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, if available |
------ |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
A. Amount outstanding dues of Micro enterprises and Small enterprises |
|
|
|
|
-
For Goods |
0.000 |
0.000 |
0.000 |
|
-
For Expenses |
0.000 |
0.000 |
0.000 |
|
B. Amount outstanding dues of creditors other than Micro enterprises and
Small enterprises |
|
|
|
|
-
For Goods |
0.000 |
0.000 |
0.000 |
|
-
For Expenses |
130.974 |
65.785 |
81.551 |
|
Total |
130.974 |
65.785 |
81.551 |
NOTE
Registered Office of the company has been shifted from Meher Chembers, 4th
and 5th Floors, R. K. Marg, Ballard Estate, Mumbai, Maharashtra,
India to the present address w.e.f. 11.01.2008
BUSINESS OPERATIONS:
The gross Income
from Services for the financial year is Rs. 420.009 Millions and the Net Profit
for the year is Rs. (1.399
Millions).
BACKGROUND AND
PRINCIPAL ACTIVITIES
Subject was
incorporated on 5th December, 2007 as a private limited company under
the Companies Act, 1956 registered with the Registrar of Companies Maharashtra.
The company took over the business of M/s. SOL (a partnership firm) as a going
concern along with all the assets and liabilities. As a pursuant of the
Business Transfer Agreement the partners of M/s. SOL have been allotted shares
in the company. During the year, the company has become subsidiary of Zodiak
Entertainment Group.
The Company is
engaged in the business of media and entertainment.
FIXED ASSETS
ü
Business and Commercial
Rights
ü
Computer
ü
Office Equipments
ü
Furniture and Fixtures
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. 49.06 |
|
|
1 |
Rs. 77.18 |
|
Euro |
1 |
Rs. 65.57 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.