MIRA INFORM REPORT
|
Report Date : |
17.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MILESTONE INTERACTIVE PRIVATE LIMITED (w.e.f. 01.07.2009) |
|
|
|
|
Formerly Known
As : |
MILESTONE INTERACTIVE SOFTWARE PRIVATE LIMITED EDUTEQ INDIA LIMITED |
|
|
|
|
Registered
Office : |
702, Supreme
Chambers, Shah Industrial Estate, Near Veera Desai Last Bus Stop, V.D. Road,
Andheri (West), Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.07.1997 |
|
|
|
|
Com. Reg. No.: |
11-109692 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1997PTC109692 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19657B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE4733D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Marketing and Distribution of Interactive Game Software, Game
Peripherals and Information and Communication Technology Products. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 417000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company has seen an increase in its sales turnover but there appear
a dip in the net profitability during 2012. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. The concern can be considered 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.
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 PARTED BY
|
Name : |
Mr. Nilesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67312500 |
|
Date : |
16.08.2013 |
LOCATIONS
|
Registered / Head Office : |
702, Supreme
Chambers, Shah Industrial Estate, Near Veera Desai Last Bus Stop, V.D. Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-67312500 |
|
Fax No.: |
91-22-67312506 |
|
E-Mail : |
sales@milestoneinteractive.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Located at ·
Bhiwandi Arihant Complex, Purna Village |
|
|
|
|
Branch Offices : |
Located at · Bangalore · Chennai · Hyderabad · New Delhi · Kolkata |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Jayont R Sharma |
|
Designation : |
Managing director |
|
Address : |
Building No.1B 125, Windermere, New Link Road, Oshiwara Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
07.10.1963 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
29.07.1997 |
|
DIN No.: |
01738425 |
|
|
|
|
Name : |
Mrs. Manisha Jayant Sharma |
|
Designation : |
Director |
|
Address : |
Building No.1B 125, Windermere, New Link Road, Oshiwara Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1967 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
30.03.2002 |
|
DIN No.: |
02379302 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Jayont Rajendra Sharma |
519760 |
52.00 |
|
JRS Investment Private Limited [Formerly Known as Sampusti Investment
Private Limited] |
400000 |
40.00 |
|
Manisha Jayont Sharma |
80040 |
8.00 |
|
Rajeev Sharma |
40 |
0.00 |
|
Nidhi Sharma |
40 |
0.00 |
|
Anirudh Sharma |
40 |
0.00 |
|
Suniti Sharma |
40 |
0.00 |
|
Asha Sharma |
40 |
0.00 |
|
|
|
|
|
Total |
1000000 |
100.00 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
40.00 |
|
Directors
or relatives of directors |
|
60.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Marketing and Distribution of Interactive Game Software, Game
Peripherals and Information and Communication Technology Products. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|
|
|
|
No. of Employees : |
350 (Approximately) |
|
|
|
|
Bankers : |
Standard Chartered Bank, SME Credit, Crescenzo, 3 A/F, Plot No. C-38
and 39, G Block, Bandra Kurla Complex, Bandra, Mumbai - 400051, Maharashtra,
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ray and Ray Chartered Accountants |
|
Address : |
G-2, Ramkrishna, 11, Happy Gome Society, Nehru Roa, Vile Parle (East),
Mumbai –
400057, Maharashtra, India |
|
Tel. No.: |
91-22-26146080/ 26150621 |
|
Fax No.: |
91-22-26131586 |
|
Email : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AADFR8764R |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 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 |
|
10.000 |
10.000 |
|
(b) Reserves & Surplus |
|
94.175 |
83.648 |
|
(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) |
|
104.175 |
93.648 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
172.120 |
6.096 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
15.000 |
15.000 |
|
(d)
long-term provisions |
|
0.000 |
1.528 |
|
Total
Non-current Liabilities (3) |
|
187.120 |
22.624 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
45.436 |
9.593 |
|
(b)
Trade payables |
|
91.194 |
73.255 |
|
(c)
Other current liabilities |
|
65.897 |
49.559 |
|
(d)
Short-term provisions |
|
19.136 |
14.801 |
|
Total
Current Liabilities (4) |
|
221.663 |
147.208 |
|
|
|
|
|
|
TOTAL |
|
512.958 |
263.480 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
22.886 |
9.846 |
|
(ii)
Intangible Assets |
|
0.662 |
0.000 |
|
(iii)
Capital work-in-progress |
|
240.394 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.010 |
7.336 |
|
(c) Deferred tax assets
(net) |
|
1.270 |
0.199 |
|
(d) Long-term Loan
and Advances |
|
11.677 |
3.903 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
276.899 |
21.284 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
60.579 |
|
(b)
Inventories |
|
51.853 |
42.171 |
|
(c)
Trade receivables |
|
95.224 |
54.927 |
|
(d)
Cash and cash equivalents |
|
58.912 |
45.959 |
|
(e)
Short-term loans and advances |
|
30.070 |
38.560 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
236.059 |
242.196 |
|
|
|
|
|
|
TOTAL |
|
512.958 |
263.480 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
55.447 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
65.447 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
14.815 |
|
|
2] Unsecured Loans |
|
|
2.739 |
|
|
TOTAL BORROWING |
|
|
17.554 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
83.001 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
11.297 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
7.326 |
|
|
DEFERREX TAX ASSETS |
|
|
0.073 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
36.314
|
|
|
Sundry Debtors |
|
|
93.371
|
|
|
Cash & Bank Balances |
|
|
25.096
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
57.459
|
|
Total
Current Assets |
|
|
212.240
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
115.074
|
|
|
Provisions |
|
|
32.861
|
|
Total
Current Liabilities |
|
|
147.935
|
|
|
Net Current Assets |
|
|
64.305
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
83.001 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
700.497 |
594.587 |
816.070 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.526 |
46.742 |
40.650 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.209 |
3.729 |
4.416 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
21.317 |
43.013 |
36.234 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.116 |
14.812 |
12.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
18.201 |
28.201 |
23.326 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
83.648 |
55.447 |
32.121 |
|
|
|
|
|
|
|
|
|
|
ADJUSTMENTS ON
ACCOUNT OF MERGER OF SUBSIDIARY |
(7.674) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
94.175 |
83.648 |
55.447 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.204 |
NA |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
284.382 |
196.475 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.20 |
28.20 |
23.33 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
850.000 |
|
|
|
|
|
The above information has been parted by Mr. Nilesh [Accounts
Department]
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.04
|
7.23 |
4.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.86
|
16.81 |
16.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.46 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.09
|
0.17 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.65 |
1.43 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
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] |
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 |
MERGER OF
MILESTONE GAMES PRIVATE LIMITED
In pursuance of the Scheme approved by the Hon’ble High Court, Mumbai, the wholly owned subsidiary of the Company, Milestone Games Private Limited, has been amalgamated in to the Company with effect from April 01, 2011. No consideration was payable pursuant to the merger, the amalgamated company being the wholly owned subsidiary.
The Financial Statements have been prepared using uniform accounting policies. Amalgamation has been carried out in accordance with AS-14 issued by the ICAI.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U72200MH1997PTC109692 |
|
Name of the
company |
MILESTONE
INTERACTIVE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit Nos. 101 to 112, 1st Floor, Nimbus Centre, Oberoi
Complex, Off New Link Road, Andheri (West), Mumbai – 400053, Maharashtra,
India Email: subhash@panaceasolutions.in
|
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others [Current assets , receivables etc] |
|
Particular of
charge holder |
ICICI Bank
Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India Email: mehernosh.v@icicibank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Three deed of
hypothecations dated Dec 20, 2012 each have been executed by borrower to
secure working capital facilities of Rs. 80 millions , Rupee Term Loan of Rs.
25 millions and Rupee Term Loan of Rs. 150 millions. |
|
Date of
instrument Creating the charge |
20.12.2012 |
|
Amount secured by
the charge |
Rs. 255.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
terms Terms of Repayment As per sanction
terms Margin As per sanction
terms Extent and Operation of the charge 1) Exclusive charge
on all the current assets of borrower 2) Exclusive
charge on all movable assets of borrower both present and future excluding
one which are currently under financed with other banks or financial
institutions. |
|
Short particulars
of the property charged |
Company’s entire
stocks of raw materials, semi-finished and finished goods, consumable stores
and spares and such other movables including book-debts bills whether
documentary or clean, outstanding monies, receivables, both present and
future, in a form and manner satisfactory to the Bank All movable
assets of borrower both present and future excluding one which are currently
under financed with other banks or financial institutions |
PRESS
RELEASES
MILESTONE INTERACTIVE GROUP EMBARKS ON ITS GLOBAL AMBITION – OPENS OFFICES IN SINGAPORE AND DUBAI
03 JUNE 2013 –
MILESTONE
Mumbai (India): Milestone Interactive Group, India’s leading game publishing, marketing, retail and distribution organization, is set to expand its business globally by setting up its first overseas presence with offices in Singapore and Dubai.
For 15 years Milestone has been serving the Indian gamer the very best from reputed partners such as Sony Computer Entertainment, Capcom, Electronic Arts (EA) and Rovio Entertainment. In 2009, the company started India’s first specialist online game store with the launch of game4u.com and has subsequently established a national presence through 9 physical stores under the Game4u brand. Keeping in-line with the company’s vision to offer the best in class products and services to its consumers Milestone recently introduced ‘downloads4u’ – a full service digital download platform for PC and Mac games enabling consumers to purchase their favorite games anytime, anywhere.
The new offices are a part of the Group’s global expansion strategy that envisages the launch of www.game4u.com across key markets in South East Asia and the Middle East. Given the early success of ‘downloads4u’ in India, Milestone will make available the download service to gamers in these two regions using localized pricing, payment and marketing strategies. Further, the Game4u brand experience and the popular rewards programme “Team Elite” would also be available to this avid gaming audience. Additionally Milestone plans on using these two strategic locations to further build its mobile publishing business giving developers from the South East Asia and the Middle East opportunities to publish and market their games globally.
On Milestone Interactive Group’s global expansion, Mr. Jayont R Sharma, Chairman & CEO, Milestone Interactive Group said, “This big step supports our stated vision to be the world’s leading interactive entertainment company; offering innovative products & services. Our qualitative research and understanding of these markets developed over the last few years has convinced us to make available our unique offerings and to present an overall brand experience built around “Game4u” to these consumers”.
“I believe our presence in these markets will further become a cornerstone of our growth in the immediate future” he added.
MILESTONE INTERACTIVE
GROUP ANNOUNCES ITS FIRST MOBILE GAME “WORBBLE” TO BE LAUNCHED ON IOS &
ANDROID
19 NOVEMBER 2012 –
MILESTONE
Mumbai: Milestone Interactive Group, India’s leading game publishing, marketing, retail and distribution organization today announced the release of its first mobile game named “WORBBLE” under its newly established Publishing and Digital Services division. “Worbble” is a unique “brain game” that combines a word game with a challenging quiz mode and is scheduled to release on iOS and Android by 1st week of December 2012. “Worbble” is developed by Mile Nine Studios Private Limited and is also the first game to be published by Milestone under its multiple studio partnership model.
The game will be available for the global market on iOS app store and Google Play store for $1.99 and will offer an addictive game play experience with a host of features that will keep gamers busy and entertained for hours; testing their vocabulary and general knowledge through two modes – word mode and quiz mode and offers a combined game play value of over 150 hours. The game is targeted towards an audience who enjoys making words, text twist, scrabble, general knowledge tests and mobile gaming etc. A free version of the game called “Worbble Lite” comprising of the easy levels in the word mode will also be made available on both app stores in order to enable consumers to try their hand at the game before making a decision to purchase the fully paid version.
Global smartphone device penetration grew by almost 61% in 2011 and continues to grow at around 40% in 2012. IDC predicts that 686 million smart phones will be sold worldwide in 2012, making it a mass market platform. According to a Nielsen survey in 2011, Games are the most popular apps downloaded with over 64% of app users downloading a game in a span of 30 days. This growing global demand for smart phones as well as their usage as an interactive entertainment platform presents a fantastic opportunity for Milestone to capitalize on this exciting growth opportunity.
Speaking on the announcement of “Worbble”
Mr. Jayont R. Sharma, Chairman and CEO, Milestone
Interactive Group
said, “We are excited to introduce our first Gaming App with the launch of “Worbble”, which combines elements of the popular mobile word game genre with a quiz twist and would appeal to a worldwide audience. We intend to harness the growth potential of mobile devices for gaming apps and aim to become one of the leading players in this space by offering compelling causal games on digital mass formats including mobile devices, PC Casual & Social platforms, Digital iTV and Smart TV applications.”
“We will continue to execute varied game development projects on a multiple studio partnership model in order to achieve the status of India’s premier video, PC and casual & mobile gaming company.” Mr. Sharma added
Post launch “Worbble” will be continually supported by updates that will include new gameplay modes as well as updated question packs for the quiz mode.
MILESTONE INTERACTIVE
TO DEVELOP GAMES FOR MOBILE DEVICES
Mumbai March 29, 2012
Milestone Interactive, console game distribution and marketing company, will now develop games for hand-held devices. With investments of about $10 million, the company will work with small animation and content creation studios (based in India) to develop casual gaming titles and will distribute the same on online app stores and in its retail stores.
Jayont Sharma, chairman and CEO, Milestone Interactive, said, “There’s a lot of opportunity in Indian content targeted at international audience. Besides the fact that we can develop a good mobile game from studios in India cost effectively, we know that we can grow the number of game launches.”
The first mobile game from Milestone Interactive is expected to be launched in the second half of the year and will be priced at par with other mobile games available (average price starts at Rs 25). The company is said to be working with three animation studios in India and will own the IP developed to maximize investments.
The latest Ficci-KPMG report states that while console gaming remained the largest segment in terms of value in 2011 at about Rs 7.3 billion of revenue, mobile gaming market generated revenue of about Rs 4.3 billion in 2011, a growth of 55 per cent from last year.
To ensure its mobile games get a leg up in the market, Milestone Interactive will also sell them in the six company-owned stores, Game4U. Sharma is also investing to expand its retail footprint, with three new Game4U stores this year. Meanwhile, to boost sales of consoles and console game titles, Game4u has introduced a new facility that allows consumers to exchange their old games for new ones. “The take-back programme, which we call Replay, has proved to be very helpful in widening the stores sales as consumers re-invest the discounts we offer on new titles and gaming units,” claimed Sharma.
The company also intends to explore gaming platforms on DTH platforms this year, said Sharma.
The company will compete with established players like Hungama Digital Media Entertainment that has over 400 IP-based mobile games and offers games on Tata Sky. India games, too, has a gaming platform on Reliance DTH platform.
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. 61.82 |
|
|
1 |
Rs. 96.57 |
|
Euro |
1 |
Rs. 82.45 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.