MIRA
INFORM REPORT
|
Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
THE WALT DISNEY COMPANY ( |
|
|
|
|
Registered
Office : |
4th Floor, Peninsula Towers - 1, Ganpatrao Kadam Marg, Lower Parel,
Mumbai - 400011, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.08.2003 |
|
|
|
|
Com. Reg. No.: |
11-149854 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2183.660 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2003PTC149854 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT9014D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Board Casting. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Disney Enterprises Inc. US”. It is a well established and reputed company having a satisfactory track
record. There appear some accumulated losses recorded by the company. However, the capital base seems to be strong. There appears no
external borrowing. The ratings also take into consideration the support from its holding
company and good market reputation. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [91-22-66516600/ 6666]
LOCATIONS
|
Registered Office : |
4th Floor, Peninsula Towers -1, Ganpatrao Kadam Marg, Lower
Parel, Mumbai -400011, Maharashtra, India
|
|
Tel. No.: |
91-22-66516600/ 66/ 67/ 56516615 |
|
Mobile No : |
91-9819334431 (Mr. Jino Jayaraj) |
|
Fax No.: |
91-22-56516744 / 66516667 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
20000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Branch Offices : |
Located at: ·
· Kolkata · Chennai |
DIRECTORS
AS ON 27.11.2012
|
Name : |
Marsha Reed |
|
Designation : |
Director |
|
Address : |
4301, E1, |
|
Date of Birth/Age : |
01.10.1957 |
|
Date of Appointment : |
19.08.2004 |
|
DIN No.: |
00031423 |
|
|
|
|
Name : |
Mr. Rajan Puri |
|
Designation : |
Additional director |
|
Address : |
201, Serenity Building, Indra Narayanan Road, Santacruz [West], Mumbai
– 400054, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1964 |
|
Qualification : |
B.Sc., C.A. |
|
Experience : |
22 Years |
|
Date of Appointment : |
17.10.2012 |
|
DIN No.: |
05213854 |
KEY EXECUTIVES
|
Name : |
S Venkata Subramanian |
|
Designation : |
Secretary |
|
Address : |
Flat No.404, 4th Floor, Building No.1, A Wing, Plot C2, NG Royal
Park, Kanjur Marg East, Mumbai – 400042, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1972 |
|
Date of Appointment : |
01.07.2010 |
|
PAN No.: |
ACNPV8645F |
|
|
|
|
Name : |
Kanthamraju Seshasaye |
|
Designation : |
Director - Marketing & Distribution |
|
|
|
|
Name : |
Mr. Anuraag Shroff |
|
Designation : |
Director – Operations and Revenue management |
|
|
|
|
Name : |
Ms. Swati Shetty |
|
Designation : |
Exec. Director Theatrical Productions & Acquisitions |
|
|
|
|
Name : |
Ms. Roshini Bakshi |
|
Designation : |
VP - DCP, Publishing Retail |
|
|
|
|
Name : |
Ms. Anju Jain Kumar |
|
Designation : |
Director/ Councel - Legal |
|
|
|
|
Name : |
Mr. Siddharth Taparia |
|
Designation : |
Director – WDSHE |
|
|
|
|
Name : |
Mr. Vijay Subramaniam |
|
Designation : |
Exec. Director – Stretagic sales & Market Development |
|
|
|
|
Name : |
Ms. Aparna Chitale |
|
Designation : |
Director – Human Resource |
|
|
|
|
Name : |
Mr. Anand Nahata |
|
Designation : |
Manager - SAS |
|
|
|
|
Name : |
Mr. Prashant Nayak |
|
Designation : |
Director – Corporate Security |
|
|
|
|
Name : |
Mr. Nitin Chawla |
|
Designation : |
Executive Director – Business Development and Strait |
|
|
|
|
Name : |
Mr. Vikram Sharma |
|
Designation : |
Director - Retail Sales |
|
|
|
|
Name : |
Mr. Srikanth Sarathy |
|
Designation : |
Director – marketing and Creative Services |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.11.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Disney Enterprises Inc, California |
|
162911632 |
|
TWDC Holdings (India) Limited, California |
|
1 |
|
|
|
|
|
Total |
|
162911633 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Disney Enterprises Inc, California |
|
55454192 |
|
|
|
|
|
Total |
|
55454192 |
AS ON 27.11.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Board Casting. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Bank of |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
President Plaza, 1st Floor, Plot No 36, Opposite Muktidham
Derasar, S G Highway, Thaltej Cross Road, Ahmedabad - 380054 |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFP9359C |
|
|
|
|
Holding company : |
Disney Enterprises Inc., USA |
|
|
|
|
Ultimate Holding company : |
The Walt Disney Company, USA |
|
|
|
|
Fellow Subsidiaries : |
· The Walt Disney Company (Asia Pacific) Limited · Buena Vista International Inc. · Disney International Employee Service Inc. · Disney International Employee Service Limited · Disney Online, USA · Walt Disney Pictures and Television, USA · Disney Worldwide Services Inc. · The Walt Disney Company Italia S.P.A., Milano · Disney Publishing Worldwide, USA · United Home Entertainment Private Limited [U92130MH2004PTC143978] · The Walt Disney Company (Southeast Asia) Pte. Limited · Disney Online Studios Canada Inc. · The Walt Disney Company (Japan) Limited · ABC Cable Network Group · Cricinfo India Private Limited · WDC Licensing EMEA S.A. · The Walt Disney Company Limited, London · Disney Interactive Studios Inc. · Disney Education Production · Disney Online Studios CA · Integration Services, LLC. · Marvel Characters B.V. · Buena Vista Home Entertainment · Walt Disney Hungary KFT · Walt Disney Parks and Resorts Inc., USA · The Walt Disney Company (Shanghai) Limited Guangzhou · Hongkong International Theme Parks Limited · Marvel Characters Appearance · Playdom India Private Limited [U72200KA2009PTC051436] · UTV Software Communications Limited (w.e.f February 03, 2012) [U72200MH1990PLC056987] · GENX Entertainment Limited (w.e.f February 03, 2012) [U92142MH2007PLC167974] · Indiagames Limited (w.e.f February 03, 2012) [U72900MH2000FLC123970] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
193,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1930.000 Millions |
|
67,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 670.000 Millions |
|
|
Total |
|
Rs. 2600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
162,911,633 |
Equity Shares |
Rs. 10/- each |
Rs. 1629.116
Millions |
|
55,454,192 |
Preference Shares |
Rs. 10/- each |
Rs. 554.542 Millions |
|
|
Total |
|
Rs. 2183.658
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2183.660 |
1495.140 |
|
(b) Reserves & Surplus |
|
(1253.320) |
(1172.900) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
930.340 |
322.240 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
57.170 |
52.640 |
|
Total Non-current
Liabilities (3) |
|
57.170 |
52.640 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
620.760 |
755.030 |
|
(c)
Other current liabilities |
|
217.110 |
421.400 |
|
(d) Short-term
provisions |
|
23.310 |
30.740 |
|
Total Current
Liabilities (4) |
|
861.180 |
1207.170 |
|
|
|
|
|
|
TOTAL |
|
1848.690 |
1582.050 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
20.640 |
32.810 |
|
(ii)
Intangible Assets |
|
0.000 |
0.830 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
434.850 |
386.700 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
455.490 |
420.340 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
44.580 |
169.780 |
|
(c)
Trade receivables |
|
600.860 |
504.530 |
|
(d) Cash
and cash equivalents |
|
284.020 |
243.400 |
|
(e)
Short-term loans and advances |
|
102.630 |
64.910 |
|
(f)
Other current assets |
|
361.110 |
179.090 |
|
Total
Current Assets |
|
1393.200 |
1161.710 |
|
|
|
|
|
|
TOTAL |
|
1848.690 |
1582.050 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1042.342 |
|
|
2] Share Application Money |
|
|
81.648 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(514.047) |
|
|
NETWORTH |
|
|
609.943 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
232.950 |
|
|
TOTAL BORROWING |
|
|
232.950 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
842.893 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
24.571 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
332.368 |
|
|
Sundry Debtors |
|
|
775.284 |
|
|
Cash & Bank Balances |
|
|
193.877 |
|
|
Other Current Assets |
|
|
0.160 |
|
|
Loans & Advances |
|
|
324.252 |
|
Total
Current Assets |
|
|
1625.941 |
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
504.200 |
|
|
Other Current Liabilities |
|
|
246.579 |
|
|
Provisions |
|
|
56.840 |
|
Total
Current Liabilities |
|
|
807.619 |
|
|
Net Current Assets |
|
|
818.322 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
842.893 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Business Income |
2163.640 |
2109.240 |
1511.139 |
|
|
|
Other Income |
379.090 |
258.890 |
273.660 |
|
|
|
TOTAL |
2542.730 |
2368.130 |
1784.799 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2623.150 |
3026.980 |
1809.778 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(80.420) |
(658.850) |
(24.979) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(80.420) |
(658.850) |
(24.979) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
653.600 |
463.663 |
485.132 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.81) |
(8.38) |
(0.53) |
|
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%20PRIVATE%20LIMITED%20-%20231558%2007-Aug-2013_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20231558%2007-Aug-2013_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.16)
|
(27.82)
|
(1.40)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.72)
|
(31.24)
|
(1.65)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.35)
|
(41.65)
|
(1.51)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
(2.04)
|
(0.04)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62
|
0.96 |
2.01 |
LOCAL AGENCY FURTHER INFORMATION
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
235.860 |
NA |
|
|
|
|
|
|
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 |
Yes |
|
24] |
Banking facility details |
No |
|
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL
PROSPECTS OF THE COMPANY
The Company had incurred loss of Rs. 658.850 millions in the financial
year ended 31st March, 2011. Whereas in financial year ended 31st March, 2012,
the company has incurred loss of Rs. 80.420 millions only.
During the year FY 2011-2012, Disney Enterprises Inc., the Holding
Company has infused a sum of Rs. 688.520 Millions as Equity share capital.
Based on information available as on date, the Board expects further equity
share capital infusion to happen during Financial Year 2012-2013. The cash flow
expected to be generated during the FY 2012-2013, from the cash flow budget
statement.
Based on (a) the equity infusion from the Holding Company, (b) the
support letter provided by the Holding Company to the effect that the Holding
Company will continue to provide the necessary operating and financial support
to the Company, to continue its operations and meet all its liabilities during
the year ending on 31st March of 2013, and for the foreseeable future, and (c)
considering the business plans for the next three to five years, and (d) the
cash flow projections, the Board is of the view that the Company is a going
concern. Accordingly, the Annual accounts for the year ended 31st March 2012,
of the Company has been prepared on that basis.
FIXED ASSETS:
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Leasehold improvements
·
Computer software
PRESS RELEASE:
INDIA ONE OF LARGEST
MARKETS FOR LOCAL PRODUCTION: ANNE SWEENEY
Mumbai March 12, 2013
Disney Media Networks Co-chair and Disney-ABC Television Group President said that the Disney Channel in India has produced numerous long-form shows
For The Walt Disney Company, understanding of its audiences is most important. The company, which has seen growth of Disney Channel from a small national network to a huge global success, believes in the four mantras for success - focusing on the audience; creating compelling storytelling; fulfilling the Disney brand promise; and taking risks and learning a lot along the way.
Talking at FICCI FRAMES here, Anne Sweeney, Disney Media Networks Co-chair and
Disney-ABC Television Group President, said that outside of the US, India is
one of the largest markets Disney has invested in for local production.
“This investment includes finding and nurturing fresh talent in the live action
space and working with the best writers, producers, musicians, and actors to
tell our compelling stories for families across India,” she said.
She said that so far, the Disney Channel in India has produced numerous
long-form shows, with multiple seasons, as well as a Disney Channel Original
movie. Disney Channel is also expanding its offerings of quintessential Indian
stories through acquisitions of animated content.
She noted that audiences everywhere increasingly want to personalise their
media experience and use emerging technologies to watch their shows where they
want, when they want, and how they want. And Disney has worked hard to stay
ahead of technology disruptions and find innovative ways to remove barriers and
deliver storytelling to consumers on whatever platform they choose.
“To maintain momentum, we’ve spent the last few years paying close attention to
our viewers. We’ve watched how they move about in the world and how they
use technology as part of their lives. It’s not always easy to keep pace.
The rate of change is occurring at warp speed, especially here in India,” she
said.
She added that the great news is that the television industry here is taking
steps now to meet the audience where it’s going. The digital conversion and
nascent mobile market in India will change everything for the consumer and
provide tremendous opportunities for all of us to engage those billion consumers,
she said.
Sweeney added that it is important to strike a balance between adapting foreign
formats and creating original content.
DISNEY RULES OUT
THEME PARK IN INDIA, BLAMES POOR INFRA
Chairman Andy Bird says lack of support infrastructure is
the reason
Mumbai March 14, 2013
American entertainment company Walt Disney, which is investing $5 billion in a brand new theme park at Shanghai in China, has ruled out any investments in a theme park in India due to lack of support infrastructure apart from high investments required and sustainability of getting in visitors to the park on an ongoing basis for 365-days a year.
According to Andy Bird, chairman of Walt Disney International, theme park
investment requires massive support infrastructure such as airports, power
supply and roads, still not available in India. “Opening a theme park anywhere
in the world is incredibly expensive and is highly complex business. Walt
Disney is investing $5 billion in Shanghai in a new theme park, which excludes
infrastructure,” Bird said here in an interaction with editors.
“While setting up a park, we have to keep in mind the demand pattern for the
next 50 to 75 years as once you open the door to the park, it remains open on
all days. Everything, including the infrastructure, has to be in place before
opening the doors,” said Bird.
India is still not ready for such a high investment besides the income levels
need to reach an inflection point so that the park can sustain guests for the
entire year. Theme parks are single largest investments by Walt Disney anywhere
in the world and the investment decisions are made after lots of studies and
after a gap of over a decade in various locations. Besides, the Disney
brand in India still need to grow to see appropriate traction for the park in
India, a spokesperson clarified.
Outside the US, Walt Disney has theme parks in Japan, Hong Kong, France and
Shanghai — which will open in 2015. Disney theme parks attract tourists from
over the world, entailing the necessity for airports, hotels and roads of
international standards. In India, many tier-1 cities do not have access to
high quality roads and power.
Walt Disney is not the only global company that is not happy about the lack of
proper roads, airports and railway network in India. Many Indian CEOs share the
view. The country’s creaking infrastructure is also slowing the economy and
hampering creation of new jobs. Walt Disney, however, is bullish on its
entertainment business in India after taking over UTV Software Solutions from
Ronnie Screwvala. The company’s four verticals — TV, movies, digital and
consumer products — will be focusing on the Walt Disney’s brand extension by
offering products to the entire family. “Our goal in India is to provide
consistent brand experience to the Indian consumers via retail products and TV
channels,” said Bird.
He said Disney was not looking at opening its own retail stores in India due to
high real estate costs. Instead, the firm will push its products through store
in store concept and via co-creating brands with other established players such
as Titan's jewellery brand, Tanishq. “Disney is not only a cartoon channel.
There are 34 brands across the world and we want Disney to grow and expand from
cartoons in India.”
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 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. 61.54 |
|
|
1 |
Rs. 94.37 |
|
Euro |
1 |
Rs. 81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.