MIRA
INFORM REPORT
|
Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
NETWORKPLAY MEDIA PRIVATE LIMITED [w.e.f. 04.05.2010] |
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|
|
|
Formerly Known
As : |
GOOSEFISH MEDIA VENTURES PRIVATE LIMITED |
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Registered
Office : |
F2A, Mira Complex, 2nd Floor, Near Okhla Crossing, Ishwar
Nagar, New Delhi-110025 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.02.2006 |
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|
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Com. Reg. No.: |
55-146573 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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|
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CIN No.: [Company Identification
No.] |
U72900DL2006PTC146573 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Ad Designing and IT Enabled Services. |
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|
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a established company having moderate track record. There
appears huge accumulated losses and profitability of the company is under pressure.
However, trade relations are fair. Business is active. Payments are slow. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office : |
F2A, Mira Complex, 2nd Floor, Near Okhla Crossing, Ishwar
Nagar, New Delhi-110025, India |
|
Tel. No.: |
91-11-47411100 |
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Fax No.: |
91-11-43011233 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
Abhishek ‘G’, 4th Floor, Juhu Versova Link Road, Andheri
(West), Mumbai-400053, Maharashtra, India |
|
Tel. No.: |
91-22-26365364 |
|
Fax No.: |
91-22-67387000 |
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Branch Office 2 : |
New Bridge Business Centre, 777/D, 100 Feet Road, Indiranagar, Hal 2nd
Stage, Bangalore-560038, Karnataka, India |
|
Tel. No.: |
91-80-41261861 |
|
Fax No.: |
91-80-67387000 |
DIRECTORS
AS ON 12.09.2011
|
Name : |
Joakim Julius Nagele |
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Designation : |
Nominee Director |
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Address : |
Lobuschstr 14, Hamburg, 22765 |
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Date of Birth/Age : |
18.01.1975 |
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Date of Appointment : |
22.03.2012 |
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Din No.: |
02916695 |
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Other Directorship:
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Name : |
Mr. Kuldip Singh |
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Designation : |
Nominee Director |
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Address : |
LA Traviataplantsoen, 16, JJ, Nieuw Vennep, 2152 |
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Date of Birth/Age : |
12.11.1973 |
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Date of Appointment : |
22.03.2012 |
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Din No.: |
03599506 |
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Other Directorship:
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Name : |
Mr. Rammohan Sundaram |
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|
Designation : |
Director |
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|
Address : |
White Wood-59, 1st Floor, Malibu Town, Sohna Road,
Gurgaon-122001, Haryana |
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Date of Birth/Age : |
29.09.1975 |
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Date of Appointment : |
08.04.2011 |
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Din No.: |
03496938 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Siddhartha Rao |
|
1 |
|
Webchutney Studio Private Limited, India |
|
999 |
|
|
|
|
|
TOTAL
|
|
1000 |
AS ON 22.03.2012
|
Names of Allottees |
|
No. of Shares |
|
G+J International Magazines GmbH, Hamburg |
|
494 |
|
|
|
|
|
TOTAL
|
|
494 |
AS ON 12.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.90 |
|
Directors
or relatives of directors |
|
0.10 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Ad Designing and IT Enabled Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
ASR and Company Chartered Accountants |
|
Address : |
1058, Sector 14, Gurgaon-122001, Haryana, India |
|
Tel. No.: |
91-124-4081707 |
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Pan No.: |
AANFA9522G |
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|
|
|
Holding Company : |
Webchutney Studio Private Limited, India [U74899DL2000PTC107294] |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100
Million |
AS ON 12.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1494 |
Equity Shares |
Rs.100/- each |
Rs.0.149
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(37.015) |
(34.183) |
(5.755) |
|
|
NETWORTH |
(36.915) |
(34.083) |
(5.655) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
22.421 |
8.875 |
8.050 |
|
|
TOTAL BORROWING |
22.421 |
8.875 |
8.050 |
|
|
DEFERRED TAX LIABILITIES |
0.051 |
0.009 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(14.443) |
(25.199) |
2.395 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.477 |
0.964 |
0.761 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.051 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
2.955 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
61.503
|
49.913 |
15.053 |
|
|
Cash & Bank Balances |
10.489
|
2.011 |
1.584 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.559
|
3.832 |
1.532 |
|
Total
Current Assets |
78.551
|
55.756 |
18.169 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
34.594
|
55.453 |
8.141 |
|
|
Other Current Liabilities |
25.296
|
10.570 |
7.277 |
|
|
Provisions |
35.581
|
15.896 |
4.123 |
|
Total
Current Liabilities |
95.471
|
81.919 |
19.541 |
|
|
Net Current Assets |
(16.920)
|
(26.163) |
(1.372) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
2.395 |
|
|
|
|
|
|
|
|
TOTAL |
(14.443) |
(25.199) |
|
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
131.594 |
|
|
|
|
|
Other Income |
2.078 |
|
|
|
|
|
TOTAL |
133.672 |
82.460 |
21.831 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
136.462 |
107.909 |
30.525 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(2.790) |
(25.449) |
(8.694) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(5.622) |
2.978 |
(2.928) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(2.832) |
(28.427) |
(5.766) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(2832.00) |
(28427.00) |
(5766.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.12)
|
(34.47) |
(26.41) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.12)
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.44)
|
(44.87) |
(45.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.75 |
1.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(3.19)
|
(2.66) |
(4.88) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.68 |
0.93 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
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 involved in |
-- |
|
23] |
Banking Details |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from 7, Keher Singh Estate, 1st Floor, Westend Marg, Lane 2, Said-Ul-Ajaib, New Delhi-110030, India to the present address w.e.f. 26.05.2012.
FINANCIAL RESULTS:
The operations during the year resulted into net loss after tax of Rs.2.832 Millions which was carried to the balance sheet.
FIXED ASSETS:
· Furniture and Fixtures
· Office Equipments
· Computer
· Plant and Machinery
· Vehicles
WEBSITE DETAILS:
MEDIA NEWS:
GRUNER+JAHR SETS
UP NEW OFFICE IN DELHI
FRIDAY, JULY 27, 2012 | BY
EXCHANGE4MEDIA NEWS SERVICE
Gruner+Jahr, the publishing division of European media conglomerate Bertelsmann AG, has announced the opening of its new corporate office in New Delhi, India.
The G+J India office is
located in Ishwar Nagar in South Delhi. The office will cater to the needs of
recently acquired companies, MaXposure Media Group and Networkplay, said an
official release.
Dr. Torsten-Jörn Klein, Executive
Board Member and President, Gruner + Jahr International said, "The opening
of Gruner+Jahr's new office is an important step in streamlining our operations
and building a strong platform in India."
He also said, "Looking
at attractive market growth rates and having gathered two fast-growing
companies, emphasises G+J's and Bertelsmann long-term commitment to India and
strong belief in the growth of the media industry."
Gruner+Jahr's plans to
establish a strong presence in India started in 2008 with the launch of Geo
Magazine through a license contract. Since then, Gruner+Jahr has taken
strategic decisions to realise the long-term goal of building a strong
portfolio of print and digital media activities through the acquisition of
majority stakes in digital ad network Networkplay and magazine publisher
Maxposure.
GRAND OPENING OF G+J CORPORATE OFFICE IN NEW DELHI
THURSDAY,
JULY 26, 2012 | BUSINESS WIRE INDIA
Gruner + Jahr, the publishing division of European media conglomerate Bertelsmann AG, is pleased to announce the opening of their new corporate office in New Delhi, India, with a grand celebration in honor of this important event. The G+J India office is located in Ishwar Nagar, in the posh south Delhi locality. The office will cater the needs of recently acquired companies, MaXposure Media Group and Networkplay.
Gruner+Jahr's plans to
establish a strong presence in India started in 2008 by the launch of Geo
magazine through a license contract. Since then Gruner+Jahr has taken strategic
decisions to realize the long term goal of building a strong portfolio of print
and digital media activities through the acquisition of majority stakes in
digital ad network Networkplay and magazine publisher Maxposure.
"The opening of
Gruner+Jahr's new office is an important step in streamlining our operations
and building a strong platform in India" says Dr. Torsten-Jörn Klein,
Executive Board Member and President of Gruner + Jahr International. Looking at
attractive market growth rates and having gathered the two fast growing
companies of their respective industry, emphasizes G+J's and Bertelsmann long
term commitment to India and strong belief in the growth of the media industry,
he adds.
The new office will provide
employees of both Maxposure and Networkplay the opportunities of closer
interaction and support on personnel and business level and motivate them to
jointly achieve greater heights in their respective industry.
ABOUT GRUNER + JAHR
Gruner + Jahr is the
publishing division of Bertelsmann AG, Europe's largest media conglomerate.
With over 300 magazines and 150 websites in more than 30 countries, Gruner +
Jahr is a market leader in many segments and is not only Europe's biggest
magazine publisher but one of the biggest publishers in the world. In fiscal year
2011, Gruner + Jahr generated revenues of Euro 2.3 billion and employed around
11,800 people worldwide. 74.9 percent of Gruner + Jahr is owned by Bertelsmann
AG, 25.1 percent by the Hamburg publishing family Jahr. www.guj.de,
www.bertelsmann.com
ABOUT NETWORKPLAY
Networkplay is India's fastest growth digital advertising network and only full play multi screen brand ad-network. It caters to brand solutions through engagement on web, mobile and DTH platforms. Networkplay has a strong presence in both brand and performance advertising along with dmg:events. Networkplay produces ad:tech and iMedia summits in India. www.networkplay.in.
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.55.52 |
|
|
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.