1. Summary Information
|
|
|
Country |
|
|
Company Name |
DECCAN CHRONICLE HOLDINGS LIMITED |
Principal Name 1 |
Mr. T Vinayak Ravi Reddy |
|
Status |
Good |
Principal Name 2 |
Mr. P. K. Iyer |
|
|
|
Registration # |
01-40110 |
|
Street Address |
No. 36, |
||
|
Established Date |
16.12.2002 |
SIC Code |
-- |
|
Telephone# |
91-40-27803930 |
Business Style 1 |
Printing |
|
Fax # |
91-40-27805256 |
Business Style 2 |
Publishing |
|
Homepage |
Product Name 1 |
News Paper |
|
|
# of employees |
4000 (Approximately) |
Product Name 2 |
Periodical |
|
Paid up capital |
Rs.486,944,438/-
|
Product Name 3 |
-- |
|
Shareholders |
Shareholding
of Promoter and Promoter Group – 73.83%, Public shareholding – 26.17% |
Banking |
Not Available |
|
Public Limited Corp. |
Yes |
Business Period |
10 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Aa (73) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
Associates |
-- |
India Travel Bureau Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
11,137,764,000 |
Current Liabilities |
4,846,036,000 |
|
Inventories |
1,334,094,000 |
Long-term Liabilities |
3,131,161,000 |
|
Fixed Assets |
8,638,799,000 |
Other Liabilities |
960,345,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
8,937,542,000 |
|
Invest& other Assets |
628,332,000 |
Retained Earnings |
12,314,503,000 |
|
|
|
Net Worth |
12,801,447,000 |
|
Total Assets |
21,738,989,000 |
Total Liab. & Equity |
21,738,989,000 |
|
Total Assets (Previous Year) |
20,630,900,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
9,753,725,000 |
Net Profit |
1,625,830,000 |
|
Sales(Previous yr) |
8,911,939,000 |
Net Profit(Prev.yr) |
2,609,181,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
DECCAN CHRONICLE HOLDINGS LIMITED |
|
|
|
|
Registered
Office : |
No. 36, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.12.2002 |
|
|
|
|
Com. Reg. No.: |
01-40110 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.486.944 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L22122AP2002PLC040110 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDD00862B |
|
|
|
|
Legal Form : |
A Public Limited liability company. The company’s shares are listed on
stock exchange. |
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|
|
|
Line of Business
: |
Subject is engaged in Printing and Publishing Newspaper and
Periodicals. |
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|
|
|
No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 51210000 |
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|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a well established and a reputed company having fine track records.
Financial position of the company appears to be sound. Directors are reported
to be experienced and respectable businessmen. Trade relations are reported
as fair. Business is active. Payments are 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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/ Factory/ Corporate Office : |
No. 36, |
|
Tel. No.: |
91-40-27803930 ( 5 Lines) / 27805392/ 27805393/ 27805397 |
|
Fax No.: |
91-40-27805256/ 27803870 |
|
E-Mail : |
|
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Website : |
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Factory 2 : |
Industrial Estate, District |
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Factory 3 : |
Dowleswaram, District |
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Factory 4 : |
MVP Colony, District |
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Factory 5 : |
Tapovanam Colony, Distrtict Ananthapur, |
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Factory 6 : |
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Factory 7 : |
Vavilapally Colony, District Karimnagar, |
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Factory 8 : |
Kompally, District Ranga Reddy, |
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Factory 9 : |
Kondapur, District, Ranga Reddy, |
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Factory 10: |
Industrial Estate, Guindy, Chennai, |
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Factory 11 : |
Bommasandra, Industrial Area, Bengaluru, |
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Publishing Centers : |
Located at: ·
·
·
·
·
Anantapur ·
Karimnagar ·
Nellor ·
Chennai, Tamilnadu |
|
|
|
|
Representative Offices : |
Located at: ·
Pune ·
Asian Age, ·
Mumbai ·
·
Kolkata ·
|
|
|
|
|
Branches : |
Located at: ·
Ahmedabad ·
·
Mumbai ·
·
Kolkata |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. T Vinayak Ravi Reddy |
|
Designation : |
Vice Chairman cum Managing Director |
|
Date of Birth/Age : |
14.09.1961 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.12.2002 |
|
|
|
|
Name : |
P. K. Iyer |
|
Designation : |
Vice Chairman |
|
Experience : |
|
|
Name : |
V. Suresh |
|
Designation : |
Independent Director) |
|
|
|
|
Name : |
N. Krishnan |
|
Designation : |
Managing Director |
|
Address : |
|
|
Name : |
M. Sukumar Reddy |
|
Designation : |
Independent Director |
|
Experience : |
|
|
Name : |
G. Kumar |
|
Designation : |
Independent Director) |
|
|
|
|
Name : |
Krishan
Premnarayen |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. V Shankar |
|
Designation : |
Company Secretary cum Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
154282250 |
73.83 |
|
|
154282250 |
73.83 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1957100 |
0.94 |
|
|
14094167 |
6.74 |
|
|
11389349 |
5.45 |
|
|
27440616 |
13.13 |
|
|
|
|
|
|
12386728 |
5.93 |
|
|
|
|
|
|
10902931 |
5.22 |
|
|
2993881 |
1.43 |
|
|
|
|
|
|
474289 |
0.23 |
|
|
4850 |
-- |
|
|
486674 |
0.23 |
|
|
27249353 |
13.04 |
|
Total Public shareholding (B) |
5468969 |
26.17 |
|
Total (A)+(B) |
206972219 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
-- |
-- |
|
Total (A)+(B)+(C) |
206972219 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Printing and Publishing Newspaper and
Periodicals. |
|
|
|
|
Products : |
Newspaper – 49021001 |
|
|
|
|
Brands : |
“Odyssey”. |
GENERAL INFORMATION
|
No. of Employees : |
4000 (Approximately) |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
C B Mouli and Associates Chartered Accountant |
|
Address : |
125, M |
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|
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Associates: |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000000 |
Equity Shares |
Rs.2/- each |
Rs.700.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
243472219 |
Equity Shares |
Rs.2/- each |
Rs.486.944
Millions |
|
|
|
|
|
Notes:
1) Issued, subscribed and paid-up capital includes
a) 2,17,50,250 Equity Shares issued in earlier years for consideration other than cash as fully paid pursuant to takeover of partnership firm Deccan Chronicle and upon amalgamation of Deccan Chronicle Private Limited and Nandi Publishers Private Limited with the company.
b) 138260500 fully paid Equity Shares were issued as Bonus shares in the earlier years.
c) 1249435 fully paid equity shares were issued on
conversion of FCCBs in the current year.
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 |
486.944 |
484.446 |
489.755 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12314.503 |
12095.703 |
11008.881 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12801.447 |
12580.149 |
11498.636 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3131.161 |
3288.656 |
3544.953 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
3131.161 |
3288.656 |
3544.953 |
|
|
DEFERRED TAX LIABILITIES |
832.683 |
796.913 |
697.110 |
|
|
Foreign Currency Convertible Bonds |
0.000 |
134.591 |
134.591 |
|
|
|
|
|
|
|
|
TOTAL |
16765.291 |
16800.309 |
15875.290 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8638.799 |
7700.471 |
7375.198 |
|
|
Capital work-in-progress |
628.332 |
376.834 |
856.039 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
2206.189 |
2409.215 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1334.094
|
620.371 |
1299.071
|
|
|
Sundry Debtors |
2583.615
|
1955.484 |
1942.468
|
|
|
Cash & Bank Balances |
7037.960
|
5916.438 |
3596.784
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1516.189
|
1855.113 |
984.940
|
|
Total
Current Assets |
12471.858
|
10347.406 |
7823.263 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
289.036
|
261.199 |
348.944 |
|
|
Other Current Liabilities |
4557.000
|
3301.701 |
2112.034 |
|
|
Provisions |
127.662
|
167.691 |
127.447
|
|
Total
Current Liabilities |
4973.698
|
3730.591 |
2588.425
|
|
|
Net Current Assets |
7498.160
|
6616.815 |
5234.838
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16765.291 |
16900.309 |
15875.290 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9753.725 |
8911.939 |
8150.128 |
|
|
|
Other Income |
555.423 |
307.515 |
426.024 |
|
|
|
TOTAL (A) |
10309.148 |
9219.454 |
8576.152 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Printing and Other Operative Expenses |
4260.855 |
3175.825 |
4427.400 |
|
|
|
Payments and benefits to employees |
968.216 |
654.690 |
493.905 |
|
|
|
Administrative Expenses |
1605.365 |
578.727 |
545.593 |
|
|
|
TOTAL (B) |
6834.436 |
4409.242 |
5466.898 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3474.712 |
4810.212 |
3109.254 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
590.116 |
451.253 |
709.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2884.596 |
4358.959 |
2399.943 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
515.735 |
422.485 |
320.613 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2368.861 |
3936.474 |
2079.330 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
743.031 |
1327.293 |
678.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1625.830 |
2609.181 |
1400.709 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5261.665 |
3945.571 |
2420.674 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Changes in treatment of franchise rights / Others |
513.648 |
9.604 |
0.000 |
|
|
|
Dividend |
0.000 |
729.323 |
489.755 |
|
|
|
Corporate tax on dividends |
0.000 |
123.948 |
83.234 |
|
|
|
Transfer to debenture redemption reserve |
500.000 |
130.212 |
(837.177) |
|
|
|
Transfer to general reserve |
600.000 |
300.000 |
140.000 |
|
|
BALANCE CARRIED
TO THE B/S |
5273.847 |
5261.665 |
3945.571 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.68 |
10.73 |
5.72 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st
Quarter |
30.09.2011 2nd
Quarter |
31.12.2011 3rd
Quarter |
|
Net Sales |
2018.400 |
2258.100 |
2315.900 |
|
Total Expenditure |
1645.300 |
1768.500 |
1813.800 |
|
PBIDT (Excl OI) |
373.100 |
489.600 |
502.100 |
|
Other Income |
110.800 |
124.300 |
123.900 |
|
Operating Profit |
483.900 |
613.900 |
626.000 |
|
Interest |
169.200 |
174.100 |
176.900 |
|
Exceptional Items |
0.000 |
0.000 |
0.0000 |
|
PBDT |
314.700 |
439.800 |
449.100 |
|
Depreciation |
134.500 |
135.900 |
136.500 |
|
Profit Before Tax |
180.200 |
303.900 |
312.600 |
|
Tax |
58.400 |
93.000 |
99.300 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
121.800 |
210.900 |
213.300 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
121.800 |
210.900 |
213.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
15.72
|
28.30 |
16.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.29
|
44.17 |
24.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.22
|
21.81 |
13.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.31 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.63
|
0.56 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51
|
2.77 |
3.02 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
The above results for the year are not strictly comparable
with that of the previous year, as the figures for the year includes the results of the subsidiaries
viz., Deccan Chargers Sporting Ventures Limited Netlink Technologies Limited
and Odyssey India Limited which were amalgamated with the company.
COMPANY OVERVIEW
The Company is in the businesses of Printing and publication
of newspapers and periodicals, sports and entertainment under the Brand “Deccan
Chargers”, chain of leisure stores offering various consumers lifestyle
products under the Brand “Odyssey”.
The Company is the publisher of the largest circulated
English Newspaper in South India – “Subject ” with a circulation of over 1.426
Million Copies per day (Source: ABC Jan-June' 2011) across Andhra Pradesh,
Tamil Nadu and Karnataka. The Company also publishes another English daily “The
AsianAge”, English Financial Newspaper “Financial Chronicle” and “Andhra
Bhoomi” a Telugu Daily, weekly, monthly.
The Company is the owner of the Hyderabad Franchise of the
Indian Premier League (IPL) “Deccan Chargers”, created by the Board of Control
for Cricket in India (BCCI). Odyssey aims to fulfill the aspirational needs of
consumer, positioned as neighborhood leisure store offering consumer lifestyle
products like books, music, stationery, gift items, toys, pens, eye-ware etc.,
having stores spread across the States of Tamil Nadu, Andhra Pradesh,
Karnataka, Maharashtra and National Capital Region.
MANAGEMENT
DISCUSSION AND ANALYSIS
The financials of the year are not strictly comparable to
that of previous year as Netlink Technologies Limited, Odyssey India Limited,
and Deccan Chargers Sporting Ventures Limited ., the subsidiaries of the
company, were amalgamated with the company from the appointed date of 1.04.2010.
The year 2010-11 was difficult and challenging for the
company as the continued uncertain situation in the markets in which the
company operates has led to a decreased spend on advertisements thereby
affecting the advertisement revenue growth. Consequently, there was fall in the
profitability with profit after tax at Rs.1685.230 millions compared
to Rs.2609.181 millions in the previous year.
OPERATIONS REVIEW
Subject, the flagship newspaper of the company continues to be
the leading newspaper of
The circulation of Subject
grew over 3%; as per Audit Bureau of Circulations (ABC) for the period
Jul-Dec 2010 the average daily circulation is 14.23 lakhs copies as against
Jul-Dec 2009 circulation of Rs.1.379 millions.
The Hyderabad IPL Franchise 'Deccan Chargers' owned by the
company is expected to enhance the brand value of the company and visibility.
This is further indicated by the addition of two new teams in the league, the
highest at a price of nearly Rs.17000.000 millions.
In IPL 3 the team qualified to the semi finals level though
could not reach the same in IPL 4. The IPL 3 home matches were not played in
The performance of 'Odyssey' chain of leisure stores of The
company offering consumer lifestyle products of books, music, stationery and
gifts during the year was impacted owing to reduced margins, decrease in
consumer spend on leisure and lifestyle products on account of inflation,
increase in the real estate and staff costs. The company is taking effective
steps to rationalize stores, reduce costs to have positive impact on overall
performance.
INDUSTRY OVERVIEW
During the year the Indian Economy continued to show
resilience. However higher inflation of commodity and food prices continues to
be a key concern, due to which Reserve Bank had to raise interest rates
multiple times during the year.
The Indian Economy is expected to maintain its growth rate
in the coming years notwithstanding external shocks, which is likely to
translate to an increased advertisement spend, and the print media being a
preferred medium is likely to derive a major benefit of the same.
OUTLOOK
The fundamentals of higher economic growth remaining intact
notwithstanding concern on inflationary pressures, the economy is expected to maintain
its current growth rate which will further lead to increasing standards of
living and literacy level which will fuel growth. As such print media sector is
considered to have a robust future within
BUSINESS DESCRIPTION
Subject is an India-based company. The Company is engaged in
printing and publication of newspapers and periodicals, sports and
entertainment under the brand Deccan Chargers, and chain of leisure stores
offering various consumers lifestyle products under the brand Odyssey. The
Company is the publisher of the Deccan Chronicle an English newspaper in south
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Aircraft
·
Computers
·
Furniture and Fixtures
·
Vehicles
·
Intangible Assets
BOARD OF DIRECTOR
T. VENKATTRAM
REDDY EXECUTIVE CHAIRMAN OF THE BOARD
Mr. T. Venkattram Reddy is Executive Chairman of the Board of Subject. Mr. Venkattram Reddy, promoter of the company is a graduate in Commerce and holds a diploma in printing technology. He has experience in newspaper management/ print media industry. He is currently the President of Indian Newspaper Society, a representative body of the News paper industry. He is also a member of Management Council of Audit Bureau of circulations. He was also a Member of Parliament from 1993-95.
P. K. IYER
EXECUTIVE VICE CHAIRMAN OF THE BOARD, MANAGING DIRECTOR
Mr. P.K. Iyer is Executive Vice Chairman of the Board, Managing Director of Subject. He has been appointee as Executive Vice Chairman of the Board of the Company with effect from May 16, 2010. He has experience in the administration and management of companies. He has been associated with the Company for the last 3 years. Prior to this he was the founder member of two software companies besides being the promoter chairman of his last technology venture. His current responsibilities include the overall responsibility of various finance functions like financial management, treasury operations and taxation. He has obtained a Bachelors degree in Economics and holds a Post Graduate Diploma in Business Management.
T. VINAYAK RAVI
REDDY - EXECUTIVE VICE CHAIRMAN OF THE BOARD
Mr. T. Vinayak Ravi Reddy is Executive Vice Chairman of the Board of Subject. He is in charge of the supervision, planning, and procurement of capital goods, printing, circulation and advertising of the newspaper. He has been associated with the Company since 1988. He is a graduate in commerce and also holds a masters degree in Business Management
G. KUMAR –
NON-EXECUTIVE INDEPENDENT DIRECTOR
Mr. G. Kumar serves as Non-Executive Independent of Subject.
He is Chairman of Audit Committee and Remuneration Committee of the Company.
PRESS RELEASE
Pantaloon Retail (
Dec 07, 2011
CNBC TV-18 reported that Pantaloon Retail (India) Limited has denied on
Wednesday a newspaper report that it had agreed to sell its stake in Future
Capital Holdings Limited to Deccan Chronicle Holdings Limited. The Economic
Times reported the deal would be worth between INR6 billion and INR7 billion.
SEBI Allows Deccan
Chronicle Holdings Limited to Buyback 3.5 Crore Shares-Business Standard
Apr 18, 2011
Business Standard reported that Securities and Exchange Board of India (SEBI)
has allowed Deccan Chronicle Holdings Ltd. to buyback 34.500 millions shares or
14.17% equity from the market at an estimated cost of INR270 crore. This will
be the second time the Deccan Chronicle would come out with an offer to buyback
its shares, following which the equity of the promoters in the Company could go
up to 73.83% from 63.37% currently.
Accord Fintech (
16 February 2012
Indian equities hover near day's high; IT, FMCG and
Auto helps market to rally
Accord Fintech (
07 December 2011
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.49.80 |
|
|
1 |
Rs.78.79 |
|
Euro |
1 |
Rs.65.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
73 |
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.