|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEDIA CONTENT AND COMMUNICATIONS SERVICES ( |
|
|
|
|
Registered
Office : |
301, 3rd Floor, Boston House, Suren Road, Western Express
Highway, Andheri (East), Mumbai 400093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
30.05.2002 |
|
|
|
|
Com. Reg. No.: |
11-136072 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2865.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92132MH2002PTC136072 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Operates, Manages and Broadcast news channels like Star News, Star
Ananda, Star Majha. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Unknown |
|
|
|
|
Comments : |
Subject is subsidiary of ABPTV Private Limited, India. It is a well
established company having satisfactory track. There appears some accumulated
losses recorded by the company. However, fundamental are reported to be
strong and healthy. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. In view of strong promoter, 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 777777
Management Non Co-Operative
LOCATIONS
|
Registered Office : |
301, 3rd Floor, Boston House, Suren Road, Western Express
Highway, Andheri (East), Mumbai 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66630208/ 66630000 |
|
Fax No.: |
91-22-66661022/ 66631029 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office 1 : |
A 37, Sector 60, Noida 201307, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4070000/ 196 |
|
|
|
|
Branch Office 2 : |
13, Jamir Lane, 3rd Floor, Gariahat Mall, Kolkata 700019,
West Bengal, India |
|
Tel. No.: |
91-33-44010300 |
|
Fax No.: |
91-33-44010228 |
|
|
|
|
Branch Office 3 : |
Star News Centre, Off Dr. E Moses Road, Mahalaxmi, Mumbai 400011,
Maharashtra, India |
|
Tel. No.: |
91-22-66630000 |
|
Fax No.: |
91-22-66631029 |
DIRECTORS
As on 19.09.2011
|
Name : |
Mr. Aveek Kumar Sarkar |
|
Designation : |
Director |
|
Address : |
12/4, Ballygunge Park Road, Kolkata 700019, West Bengal, India |
|
Date of Birth/Age : |
09.06.1945 |
|
Date of Appointment : |
19.09.2003 |
|
DIN No.: |
00224290 |
|
|
|
|
Name : |
Mr. Arup Kumar Sarkar |
|
Designation : |
Director |
|
Address : |
20, Madan Mohantola Street, Kolkata 700005, West Bengal, India |
|
Date of Birth/Age : |
16.08.1946 |
|
Date of Appointment : |
19.09.2003 |
|
DIN No.: |
00200053 |
|
|
|
|
Name : |
Mr. Dipankar Das Purkayastha |
|
Designation : |
Director |
|
Address : |
RC/5, Raghunathpur VI P Road, Kolkata 700059, West Bengal, India |
|
Date of Birth/Age : |
01.09.1947 |
|
Date of Appointment : |
24.11.2005 |
|
DIN No.: |
00194147 |
|
|
|
|
Name : |
Mr. Avijit Deb |
|
Designation : |
Director |
|
Address : |
1 Rajendra Deb Road, Bura Bazar, Kolkata 700007, West Bengal, India |
|
Date of Birth/Age : |
01.09.1947 |
|
Date of Appointment : |
01.09.2005 |
|
DIN No.: |
00047233 |
|
|
|
|
Name : |
Mr. Uday Shankar |
|
Designation : |
Director |
|
Address : |
Vastu CHS Limited, 3/4th Floor, Flat No. 301, Worli Sea
Face, Mumbai 400018, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1961 |
|
Date of Appointment : |
07.04.2008 |
|
DIN No.: |
01755963 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Venkatramani |
|
Designation : |
Chief Executive Officer and Manager
|
|
Address : |
A 62, 6th Floor, Meherina Apartments, 51 C, Napean Sea
Road, Mumbai 400026, Maharashtra, India |
|
Qualification : |
BE(Mech), PGDM |
|
Experience : |
25 Years |
|
|
24.03.1964 |
|
Date of Appointment : |
23.12.2010 |
|
PAN No. : |
ADXPA6170D |
|
|
|
|
Name : |
Mr. Anupam Kumar Chugh |
|
Designation : |
Secretary |
|
Address : |
152, Kewal Kunj Appartments, Plot No. 46, Sector 13, Rohini, Delhi
110085, India |
|
Date of Appointment : |
10.04.2007 |
|
PAN No. : |
AABPC8344E |
|
|
|
|
Name : |
Shazi Zaman |
|
Designation : |
Editor |
|
Qualification : |
BA (Hon) |
|
Experience : |
19 Years |
|
Date of Birth/Age : |
46 Years |
|
|
|
|
Name : |
Mr. Milind Khandekar |
|
Designation : |
Managing Director |
|
Qualification : |
PG Dp in Journalism |
|
Experience : |
14 Years |
|
Date of Birth/Age : |
40 Years |
|
|
|
|
Name : |
Mr. Subrata Dutta |
|
Designation : |
Executive Vice President Operation |
|
Qualification : |
BE |
|
Experience : |
18 Years |
|
Date of Birth/Age : |
43 Years |
|
|
|
|
Name : |
Mr. Neeraj Sanan |
|
Designation : |
Executive Vice President Marketing and Distribution |
|
Qualification : |
MBA (IIM) |
|
Experience : |
16 Years |
|
Date of Birth/Age : |
40 Years |
|
|
|
|
Name : |
Mr. Avinash Pandey |
|
Designation : |
Executive Vice President Advertising Sales |
|
|
|
|
Name : |
Mr. Satyakki Bhattacharjee |
|
Designation : |
Vice President Human Resources, Legal and Regulatory Affairs |
|
|
|
|
Name : |
Mr. Ashish Jasoria |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Joydeb Cbatterjee |
|
Designation : |
EVP-Finance |
|
Qualification : |
CA,CWA |
|
Experience : |
15 |
|
Date of Birth/Age : |
43 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.09.2011
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
ABP TV Private Limited, India |
46250000 |
|
Star News Broadcasters Limited, Tortola, British Virgin Island |
16250000 |
|
Total |
62500000 |
|
Names of Shareholders (Preference Shares) |
No. of Shares |
|
ABP TV Private Limited, India |
16578220 |
|
Star News Broadcasters Limited, Tortola |
5824780 |
|
Total |
22403000 |
Equity Share Break up (Percentage of Total Equity)
As on 19.09.2011
|
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 |
26.00 |
|
Bodies corporate |
74.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Operates, Manages and Broadcast news channels like Star News, Star
Ananda, Star Majha. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Axis Bank, 7, Shakespeare Sarani, Kolkata 700071,
West Bengal, India ·
ING Vysya Bank Limited, Nariman Point, Mumbai
400021, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Notes : (A) (a) Term loans
repayable within one year Rs. 109.892 Millions (b) Term loans are secured by
a first exclusive charge on all the assets (Movable as well as Immovable) of
the company including all programming assets, both present and future current
assets of the company including all book debts and stocks. (B) (a) Term
loans repayable within one year Rs. 206.400 Millions (b) Term loans are
secured by a first exclusive charge on all the assets (Movable as well as
Immovable) of the Company including all programming assets, both present and
future current assets of the company
including all book debts and stocks. (C) These are
the cash credit account. Cash credit is secured by a first exclusive charge
on all the assets (Movable as well as Immovable) of the company including all
programming assets, both present and future current assets of the company
including all book debts and stocks. (D) These are
the Cash credit account. Cash credit is secured by a first exclusive charge
on all assets (Movable as well as Immovable) of the company including all
programming assets, both present and future current assets of the company
including all book debts and stocks. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex,
Gurgaon 122002, Haryana, India |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
PAN.: |
AABFD2095B |
|
|
|
|
Holding Company : |
ABP TV Private Limited, India CIN No.: U92113WB2000PTC092157 |
|
|
|
|
Ultimate Holding Company : |
ABP Private Limited, India CIN No.: U22219WB1922PTC004503 |
|
|
|
|
Related Parties: |
Star News Broadcasting Limited, Hong Kong |
CAPITAL STRUCTURE
As on 19.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
85000000 |
Equity Shares |
Rs.10/- each |
Rs.850.000 Millions |
|
31500000 |
Preference Shares |
Rs.100/- each |
Rs.3150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
62500000 |
Equity Shares |
Rs.10/- each |
Rs.625.000
Millions |
|
22403000 |
Preference Shares |
Rs.100/-
each |
Rs.2240.300
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2865.300 Millions |
Note :
Of the above
46,250,000 equity shares of Rs. 10 each and 16,578,220 preference shares of Rs.
100 each are held by ABP TV Private Limited, the holding company. The Ultimate holding
company is ABP Private Limited.
Of the above
46,250,000 equity shares of Rs. 10 each and 15,188,500 preference shares of Rs.
100 each are held by ABP TV Private Limited, the holding company. The Ultimate
holding Company is ABP Private Limited.
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 |
2865.300 |
2677.500 |
2523.450 |
|
|
2] Share Application Money |
0.000 |
187.800 |
154.050 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(2508.994) |
(2603.326) |
(2547.568) |
|
|
NETWORTH |
356.306 |
261.974 |
129.932 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
169.064 |
343.607 |
578.383 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
169.065 |
343.607 |
578.383 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
525.370 |
605.581 |
708.315 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
302.693 |
284.013 |
327.778 |
|
|
Capital work-in-progress (including Capital Advance) |
30.918 |
9.834 |
31.126 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.081
|
0.513
|
0.102 |
|
|
Sundry Debtors |
639.236
|
549.571
|
490.720 |
|
|
Cash & Bank Balances |
75.337
|
246.374
|
260.580 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
221.381
|
159.851
|
178.562 |
|
Total
Current Assets |
936.035
|
956.309
|
929.964 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
508.498
|
478.203
|
462.703 |
|
|
Other Current Liabilities |
198.023
|
137.695
|
94.474 |
|
|
Provisions |
37.755
|
28.677
|
23.376 |
|
Total
Current Liabilities |
744.276
|
644.575
|
580.553 |
|
|
Net Current Assets |
191.759
|
311.734
|
349.411 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
525.370 |
605.581 |
708.315 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from operations |
2288.507 |
2069.019 |
1762.286 |
|
|
|
Other Income |
47.786 |
62.323 |
54.765 |
|
|
|
TOTAL (A) |
2336.293 |
2131.342 |
1817.051 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating and other Expenses |
2147.495 |
2007.459 |
2083.568 |
|
|
|
TOTAL (B) |
2147.495 |
2007.459 |
2083.568 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
188.798 |
123.883 |
(266.517) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
FINANCIAL EXPENSES (D) |
30.293 |
57.956 |
65.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
158.505 |
65.927 |
(332.305) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
64.173 |
121.685 |
120.819 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
94.332 |
(55.758) |
(453.124) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
7.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
94.332 |
(55.758) |
(460.909) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
(2603.326) |
(2547.568) |
(2086.659) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2508.994) |
(2603.326) |
(2547.568) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
14.795 |
38.730 |
33.499 |
|
|
TOTAL EARNINGS |
14.795 |
38.730 |
33.499 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.11) |
(0.67) |
(5.65) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.04
|
(2.62)
|
(25.37) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.12
|
(2.69)
|
(25.71) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.62
|
(4.49)
|
(36.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
(0.21)
|
(3.48) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.56
|
3.77
|
8.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.48
|
1.60 |
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) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoters background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
--Micro and small enterprises |
0.000 |
0.000 |
0.000 |
|
--Others |
508.498 |
478.203 |
462.703 |
|
Total |
508.498 |
517.527 |
462.703 |
PERFORMANCE:
During the
financial year 2010-11, Companys total revenue from operations has been Rs. 2288.500
Millions compared to Rs. 2069.000 Millions last year, an increase of 11%.
EBITDA has been Rs.192.400 Millions as against Rs.132.100 Millions last year, a
growth of 46%. Profit before tax has been Rs. 90.200 Millions as compared to
Rs.(55.700) Millions last year, registering a growth of 269% over the last
year. Profit after tax has been Rs. 94.200 Millions compared to Rs. (55.700)
Millions last year, registering a growth of 269% over the last year.
The Company, thus,
has been able to achieve growth successfully due to the following key reasons:
General elections,
some key state elections ( Assam, West Bengal, Kerala and Pondicherry ) and two
budgets in a year helped drive news consumption in a big way. MCCS was able to
capitalize on these opportunities through specially created content and was
able to price them aggressively and sell in the market.
With strong thrust
on cutting costs and unimportant expenses, they were able to bring down our
overall operating expenses compared to the previous year
Continued growth
on the regional channels
Excellent
performance on new revenue streams of events / special properties, which helped
us improve the overall margins
They launched new
websites for all our channels and also built capability on new media- sms,
mobile value added services, sms shortcode which helped us to provide better
customized solutions to our key client brands
Revenue
Star News
MCCS continued its
growth run when most of the Media organizations were struggling to achieve
their target. This became more commendable after realizing the fact that Star
News held a no. 3 position in terms of news viewership after Aaj Tak and India
TV. This was mainly possible through
Combo selling in order to capitalize on inventory. Event and special
properties supported the revenues with first of its kind property STAR
Anchor Hunt
Star Ananda
Star Ananda
delivered a significant growth while maintaining No. 2 position in terms of
viewership rating. Zee 24 Ghanta proved a strong threat through its leadership
position in terms of viewership, though its advertising rates were less than
half that of STAR Ananda. Inventory utilization on STAR Ananda peaked in
2010-11 and combo selling at an attractive price also helped Ananda to
capitalize its inventory. Events proved a major supporting stream- with
revenues on properties like Shera Bengali and Durga Puja increasing manifold.
Star Majha
FY 10-11 proved
yet another year of being No.1 for Star Majha, both in terms of News viewership
as well as Revenue share. With the help of combo selling Majha utilized its
inventory successfully. Star Majha registered a healthy revenue growth.
Syndication
Revenues
The channel has continued to earn its normal fixed-fee Syndication revenue
on the news feed sent out of India through the STAR system, though it was
heartening to note that with the channel gaining in popularity not only in
India but also outside, STAR added several countries to the list of places
where STAR News became visible to Indians resident in such places.
Outlook for
2010-11
2010-11 was a year of post recession recovery for the news industry as
advertisers grew cautious and started demanding greater value. However, they
were not too successful in taking the price tables up, largely because the new
genre itself was under severe pressure for viewership, from the heightened
level of activity in the entertainment and sports genres. The key challenges
for 2011-12 would be our ability to take up the prices, to grow the genre
viewership and to take up the performance of Star news as the inventory
utilization is optimum and any future growth, cannot come from volume increase.
The broadcasting industry is expected to grow at 13%and MCCS has
targeted an above industry growth to ensure that the Company grows faster than
the market. The key legs of MCCS strategy on revenue and profitability are -
Leveraging on the success of events / special projects as a revenue
stream as it helps improve margin and prices, while providing customized
activation platform for client brands
Continue to manage costs tightly to ensure that they maintain the
advantage.
Driving viewership share through a well thought out relaunch activity
for star News. This would be based on a new editorial strategy which would
ensure that they stick to strong mainstream news and take a high ground on news
coverage in an endeavor to achieve the leadership position in the Hindi News
Genre. This activity would be amply supported by marketing initiative to
reposition the brand
Maintain the ratings leadership on regional channels, while driving
market building activities
It is expected that the implementation of the above strategies will help
in achieving the desired objectives
CONTINGENT
LIABILITY (As on 31.03.2011)
a. Estimated amount of contracts to executed on capital account Rs.
3.478 Million (Previous year Rs. 0.185 Millions).
b. The Company has purchased fixed assets under the Export Promotion
Capital Goods Scheme. As per the terms of the license granted under the
scheme, the Company had undertaken to achieve an export commitment of Rs.
957.297 Millions (Previous year Rs. 957.297 Millions) over a period of 9 years,
which expires on 23 October, 2011 and would have been liable to pay customs
duty of Rs. 107.437 Millions (Previous year Rs. 107.437 Millions) and interest
on the same at the rate of 15 per cent compounded annually in the event of non
fulfillment of the export obligations.
The Company has fulfilled its export obligations of Rs. 808.499 Millions
(Previous year Rs. 801.857 Millions) till 31 March, 2011, the balance export
obligation being Rs 148.798 Millions (Previous year Rs 155.550 Millions). The
Company is yet to make an application to the Director General of Foreign Trade
for issuance of the export obligation discharge certificates (EODC).
FIXED ASSETS
·
Leasehold Improvements
·
Plant and Machinery
·
Computers
·
Office Equipment
·
Furniture and Fixtures
·
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 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 Intl 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 companys 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.53.71 |
|
|
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.69.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
This score serves as a reference to assess SCs 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.