1. Summary Information
|
|
|
Country |
|
|
Company Name |
HT
MEDIA LIMITED |
Principal Name 1 |
Ms. Shobhana Bhartia |
|
Status |
Good |
Principal Name 2 |
Mr. K. N. Memani |
|
|
|
Registration # |
55-117874 |
|
Street Address |
18-20,
Kasturba Gandhi Marg, Hindustan Times House, |
||
|
Established Date |
03.12.2002 |
SIC Code |
-- |
|
Telephone# |
91-11-66561234/
66561651 |
Business Style 1 |
Printing |
|
Fax # |
91-11-23738887/
23704600 |
Business Style 2 |
Publication |
|
Homepage |
Product Name 1 |
Newspapers |
|
|
# of employees |
2922
(Approximately) |
Product Name 2 |
Periodicals |
|
Paid up capital |
Rs.470,042,000/- |
Product Name 3 |
-- |
|
Shareholders |
Promoter and Promoter Group - 68.99% Public shareholding - 31.01% |
Banking |
HDFC Bank Limited |
|
Public Limited Corp. |
YES |
Business Period |
11 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
A
(64) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
The Hindustan Times
Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
6,799,126,000 |
Current Liabilities |
5,249,323,000 |
|
Inventories |
1,046,429,000 |
Long-term Liabilities |
3,294,922,000
|
|
Fixed Assets |
4,484,645,000 |
Other Liabilities |
506,464,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
9,050,709,000 |
|
Invest& other Assets |
9,822,030,000 |
Retained Earnings |
12,631,479,000 |
|
|
|
Net Worth |
13,101,521,000 |
|
Total Assets |
22,152,230,000 |
Total Liab. & Equity |
22,152,230,000 |
|
Total Assets (Previous Year) |
21,011,056,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
13,450,908,000 |
Net Profit |
241,497,000 |
|
Sales(Previous yr) |
13,191,397,000 |
Net Profit(Prev.yr) |
1,598,240,000 |
MIRA
INFORM REPORT
|
Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
HT MEDIA LIMITED |
|
|
|
|
Registered
Office : |
18-20, Kasturba Gandhi Marg, Hindustan Times House, New
Delhi – 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.12.2002 |
|
|
|
|
Com. Reg. No.: |
55-117874 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.470.042 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L22121DL2002PLC117874 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH03846D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Subject is engaged in the business of Printing and Publication of Newspapers and Periodicals. |
|
|
|
|
No. of Employees
: |
2922 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 52406000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having fine track record. There appears dip in profit of the company. However, networth of the
company appears to be strong. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. 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.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA+ (Rs.2500.000 Millions Non-Convertible
Debentures) |
|
Rating Explanation |
High credit quality and low credit risk. |
|
Date |
October 08, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Rs.1000.000 Millions Short Term Debt) |
|
Rating Explanation |
Very strong degree of safety and lowest credit
risk |
|
Date |
October 08, 2012 |
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 : |
18-20 Kasturba Gandhi Marg, Hindustan Times House, New Delhi – 110001, India |
|
Tel. No.: |
91-11-66561234/ 66561651/ 66561608/ 23361234 |
|
Fax No.: |
91-11-23738887/ 23704600/ 66561206/ 66561270/ 66561445 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Park Central Building, 7th Floor Sector – 30, Delhi –
Jaipur Highway, Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-3954700 |
|
|
|
|
Factory 1 : |
Greater Noida Plot No. 08, Udyog Vihar, Grater Noida, Gautam Budh Nagar-201306, |
|
|
|
|
Factory 2 : |
Jallandhar B-21A, Focal Point Extension, Jallandhar-144004, |
|
|
|
|
Factory 3 : |
Mumbai Plot No. 6, TTC MIDC Industrial Area, Dighe, |
|
|
|
|
Factory 4 : |
Mohali C-164/165, Phase VIII B, Industrial Focal Point, Mohali-160059, |
|
|
|
|
Factory 5 : |
Noida B-02, Sector -63, Noida-201307, |
|
|
|
|
Factory 5 : |
Kolkata C/o Texmaco Panihati Works, B.T. Road, 24 Pargana North, Kolkata – 700058, West Bengal, India |
DIRECTORS
As on: 31.03.2013
|
Name : |
Ms. Shobhana Bhartia |
|
Designation : |
Chairperson and Editorial Director |
|
|
|
|
Name : |
Mr. K. N. Memani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. N. K. Singh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ajay Relan |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Mukesh Aghi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Priyavrat Bhartia |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Shamit Bhartia |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Rajiv Verma |
|
Designation : |
Whole Time Director and Chief Executive Officer |
KEY EXECUTIVES
|
Name : |
Mr. Piyush Gupta |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Dinesh Mittal |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
161754490 |
68.98 |
|
|
161754490 |
68.98 |
|
|
|
|
|
|
22600 |
0.01 |
|
|
22600 |
0.01 |
|
Total shareholding
of Promoter and Promoter Group (A) |
161777090 |
68.99 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
12845649 |
5.48 |
|
|
107899 |
0.05 |
|
|
37149481 |
15.84 |
|
|
50103029 |
21.37 |
|
|
|
|
|
|
17380503 |
7.41 |
|
|
|
|
|
|
1973863 |
0.84 |
|
|
3016633 |
1.29 |
|
|
233722 |
0.10 |
|
|
224486 |
0.10 |
|
|
80 |
0.00 |
|
|
9156 |
0.00 |
|
|
22604721 |
9.64 |
|
Total Public
shareholding (B) |
72707750 |
31.01 |
|
Total (A)+(B) |
234484840 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
234484840 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of Printing and
Publication of Newspapers and Periodicals. |
GENERAL INFORMATION
|
No. of Employees : |
2922 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Notes: 1. Term loan from HDFC bank carries interest @ PLR minus 7.75% p.a.
(Rate of Interest was linked to PLR for the first 2 years from the date of
first drawdown. Thereafter, the interest is reset by the bank on an annual
basis). The loan is repayable in 20 quarterly installments of Rs.37.500
Millions each along with interest, from the date of disbursement, viz., 08th
June, 2009 and 19th June, 2009. The loan is secured by first pari passu
charge on all movable fixed assets of the Company along with Term Lenders
(except assets financed out of the ECB from Standard Chartered Bank) and
first pari passu charge by way of equitable mortgage of immovable properties
belonging to the Company situated at Greater Noida (Plot No. 8, Udyog Vihar,
Greater Noida, Gautam Budh Nagar - 201306). The loan is further secured by
equitable mortgage by deposit of title deeds of immovable properties situated
at Noida (B-02, Sector 63, Noida - 201307) and Mohali (C-164/165 Phase VIII-B
Industrial Focal Point, Mohali - 160059). The loan is also secured by second
charge on the current assets of the Company 2. External Commercial borrowing from Standard Chartered bank carries
interest @ 6 months USD Libor + 1.20% spread p.a. payable semi annually. The
loan is repayable in 3 annual installments of USD 5,155,670 each, after 4
years from the date of first drawdown, viz., 8 April, 2008 i.e. at the end of
4th, 5th and 6th year. The total tenor of the loan shall not exceed 6 years
from date of first drawdown. The loan is secured by way of first and specific charge over certain
movable plant and machinery of the HT Media Limited, i.e: - One Man Roland Off-Set Rotation Printing Press type - Regioman -
2009, - Muller Martini Martini Mail Room System - 2009 stored or to be
stored at HT Media Limited godowns or premises or wherever else the same may
be. 3. Buyer’s credit from BNP Paribas is secured by way of first pari
passu charge over all moveable assets such as raw materials, stock-in-
process, finished goods lying at various factories, godowns, warehouses, etc,
wherever situated or in transit, both present or future and book debts of the
Company and all book debts, outstanding monies, receivables, claims, bills
which are due and which may at any time during the continuance of this
security become due by any person, firm, company or body corporate. 4. Buyer’s credit from Royal Bank of Scotland is secured by way of
first pari-passu charge on all current assets (both present and future) 5. Buyer’s credit from HDFC Bank is secured by way of first pari-passu
charge on all future currect assets of the company.
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountant |
|
Address : |
Golf View Corporate Tower-B, Sector-42, Sector Road, Gurgaon – 122022,
Haryana, India |
|
Tel. No.: |
91-124-4644000 |
|
Mobile No.: |
91-124-4644050 |
|
|
|
|
Holding Company : |
The Hindustan Times Limited |
|
|
|
|
Subsidiaries : |
·
Hindustan Media
Ventures Limited ·
HT Music and
Entertainment Company Limited ·
Firefly e- Ventures
Limited ·
HT Digital Media
Holdings Limited ·
HT Burda Media
Limited ·
HT Mobile Solutions
Limited · HT Overseas Pte. Limited ·
HT Education
Limited ·
HT Learning Centers
Limited ·
HT Global Education · Ed World Private Limited, formerly Peacock Education Services Private Limited ·
Ivy Talent India Private Limited (w.e.f.
9.11.2012) |
|
|
|
|
Fellow Subsidiaries
: |
· HT Interactive Media Properties Limited ·
Go4i.com
(Mauritius) Limited · Go4i.com (India) Private Limited ·
HT Films Limited ·
White Tide
Amusement Limited |
|
|
|
|
Group companies where common control exists : |
· Paxton Trexim Private Limited ·
Duke Commerce Limited |
|
|
|
|
Enterprises owned
or significantly influenced by Key Management Personnel or their relatives : |
·
Jubilant Food Works
Limited · Goldmerry Investment and Trading Company Limited · Earthstone Holding Private Limited · Earthstone Holding (One) Private Limited · Earthstone Holding (Two) Private Limited · Earthstone Holding (Three) Private Limited · Earthstone Holding Overseas Private Limited ·
Shine Foundation ·
Priyavrat Traders ·
Billigiri Rangan Coffee
Estate ·
Kumaon Orchards ·
Shobhana Print
Media LLP ·
Shobhana
Communications LLP · PSB Trustee Company Private Limited · SB Trusteeship Services Private Limited · Shobhana Trustee Company Private Limited · SSB Trustee Company Private Limited |
CAPITAL STRUCTURE
As on: 27.08.2013
Authorised Capital : Rs.725.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.468.972
Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
362500000 |
Equity Shares |
Rs.2/- each |
Rs.725.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
235021000 |
Equity Shares |
Rs.2/- each |
Rs.470.042 Millions |
|
|
|
|
|
(a) Reconciliation of
the equity shares outstanding at the beginning and at the end of the year
|
|
31 March, 2013 |
|
|
Equity Shares |
No. of shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the
year |
2350.21 |
470.042 |
|
Shares Issued during the year |
- |
- |
|
Shares
outstanding at the end of the year |
2350.21 |
470.042 |
(b) Terms/rights
attached to equity shares
The Company has only one class of equity shares having par value of Rs.2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended 31 March, 2013, the amount of per share dividend recognized as distribution to equity shareholders is Rs.0.40 (Previous year Rs.0.40).
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
(c) Shares held by
holding/ ultimate holding company and/ or their subsidiaries/ associates
Out of the equity shares issued by the Company shares held by its holding company and subsidiary of holding company are as below:
(Rs, In Millions)
|
Particulars |
As at 31 March,
2013 |
|
The Hindustan Times
Limited, the holding company 1,617.55 lac (Previous year 1,617.55 lac) equity shares of Rs.2 each fully paid |
323.509 |
|
Go4i.com
(Mauritius) Limited, subsidiary of The Hindustan Times Limited 0.23 lac (Previous year 0.23 lac) equity shares of Rs.2 each fully paid |
0.045 |
(d) Aggregate number
of bonus shares issued, shares issued for consideration other than cash and
shares bought back during the period of five years immediately preceding the
reporting date
(Rs, In Millions)
|
Particulars |
As at 31 March,
2013 |
|
Equity shares alloted as fully paid-up to Go4i.com (Mauritius) Limited pursuant to a scheme of Arrangement and de-merger u/s 391-394 of the Companies Act, 1956 |
0.023 |
|
Equity shares alloted as fully paid-up to The Hindustan Times Limited pursuant to a scheme of Arrangement and restructuring u/s 391-394 read with sections 100-104 of the Companies Act, 1956 |
0.769 |
(e) Details of
shareholders holding more than 5% shares in the Company
|
Equity Shares |
As at 31 March, 2013 |
|
|
|
No. of shares (in lacs) |
% holding |
|
Equity shares of
Rs.2 each fully paid up |
|
|
|
The Hindustan Times Limited, the holding company |
1617.55 |
68.83% |
As
per of the company, including its register of shareholders/Members and other declaration
received from the from shareholders regarding beneficial interest, the above
shareholding both legal and beneficial
ownership of shares.
(f) 6 equity shares
of Rs. 2/- each have been issued on May 9, 2013 for a consideration other than
cash pursuant to the scheme of Arrangement and Restructuring
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
470.042 |
|
(b) Reserves & Surplus |
|
|
12631.479 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
13101.521 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
911.118 |
|
(b) Deferred tax liabilities (Net) |
|
|
291.059 |
|
(c) Trade payables |
|
|
4.903 |
|
(d) Other long term liabilities |
|
|
196.624 |
|
(e) long-term provisions |
|
|
10.719 |
|
Total Non-current
Liabilities (3) |
|
|
1414.423 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
2383.804 |
|
(b) Trade payables |
|
|
2505.286 |
|
(c) Other current liabilities |
|
|
2542.510 |
|
(d) Short-term provisions |
|
|
204.686 |
|
Total Current
Liabilities (4) |
|
|
7636.286 |
|
|
|
|
|
|
TOTAL |
|
|
22152.230 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
4039.353 |
|
(ii) Intangible Assets |
|
|
445.292 |
|
(iii) Capital work-in-progress |
|
|
1086.432 |
|
(iv) Intangible assets under development |
|
|
7.546 |
|
(b) Non-current Investments |
|
|
3493.352 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
773.925 |
|
(e) Other Non-current assets |
|
|
162.375 |
|
Total Non-Current
Assets |
|
|
10008.275 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
5234.700 |
|
(b) Inventories |
|
|
1046.429 |
|
(c) Trade receivables |
|
|
1946.109 |
|
(d) Cash and cash equivalents |
|
|
968.250 |
|
(e) Short-term loans and advances |
|
|
2306.725 |
|
(f) Other current assets |
|
|
641.742 |
|
Total Current
Assets |
|
|
12143.955 |
|
|
|
|
|
|
TOTAL |
|
|
22152.230 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
470.042 |
470.042 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
12631.829 |
11219.598 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
13101.871 |
11689.640 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1511.717 |
2515.375 |
|
|
2] Unsecured Loans |
|
1163.710 |
283.617 |
|
|
TOTAL BORROWING |
|
2675.427 |
2798.992 |
|
|
DEFERRED TAX LIABILITIES |
|
410.186 |
447.755 |
|
|
|
|
|
|
|
|
TOTAL |
|
16187.484 |
14936.387 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4876.259 |
5252.665 |
|
|
Capital work-in-progress |
|
87.800 |
146.735 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
9292.810 |
8081.873 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
Other Non- Current Assets |
|
197.223 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1212.802
|
1012.692
|
|
|
Sundry Debtors |
|
1943.568
|
1821.942
|
|
|
Cash & Bank Balances |
|
804.582
|
638.148
|
|
|
Other Current Assets |
|
203.139
|
252.337
|
|
|
Loans & Advances |
|
2392.873
|
2451.036
|
|
Total
Current Assets |
|
6556.964
|
6176.155
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2350.401
|
2034.468
|
|
|
Other Current Liabilities |
|
2294.044
|
2278.599
|
|
|
Provisions |
|
179.127
|
407.974
|
|
Total
Current Liabilities |
|
4823.572
|
4721.041
|
|
|
Net Current Assets |
|
1733.392
|
1455.114
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
16187.484 |
14936.387 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13450.908 |
13191.397 |
12142.156 |
|
|
|
Other Income |
781.004 |
682.284 |
415.939 |
|
|
|
TOTAL (A) |
14231.912 |
13873.681 |
12558.095 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw materials |
4110.244 |
4013.026 |
3554.605 |
|
|
|
Personnel Expenses |
2891.485 |
2472.232 |
2095.337 |
|
|
|
Operating and Other Expenses |
4583.554 |
4319.195 |
3667.455 |
|
|
|
Increase or Decrease in stock |
(5.261) |
0.128 |
(0.295) |
|
|
|
Exceptional Items |
1594.000 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
13174.022 |
10804.581 |
9317.102 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1057.890 |
3069.100 |
3240.993 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
335.766 |
602.950 |
187.298 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
722.124 |
2466.150 |
3053.695 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
575.816 |
285.816 |
562.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
146.308 |
2180.334 |
2490.812 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(95.189) |
582.094 |
714.906 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
241.497 |
1598.240 |
1775.906 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7199.500 |
5830.506 |
4286.933 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
18.200 |
120.000 |
134.000 |
|
|
|
Proposed Dividend (on equity shares) |
94.000 |
94.000 |
84.608 |
|
|
|
Tax on Proposed Dividend |
5.000 |
15.200 |
13.725 |
|
|
BALANCE CARRIED
TO THE B/S |
7323.800 |
7199.546 |
5830.506 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
2.900 |
|
|
|
Advertising |
|
|
113.705 |
|
|
|
Royalty |
|
|
74.317 |
|
|
TOTAL EXPORTS |
465.952 |
152.619 |
190.922 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2714.510 |
2830.586 |
2585.990 |
|
|
|
Stores & Spares |
34.108 |
24.066 |
41.669 |
|
|
|
Capital Goods |
768.361 |
27.414 |
10.121 |
|
|
TOTAL IMPORTS |
3516.979 |
2882.066 |
2637.780 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.03 |
6.80 |
7.56 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 1st
Quarter |
30.09.2013 2nd Quarter |
|
|
Unaudited |
Unaudited |
|
Net Sales |
3471.300 |
3301.200 |
|
Total Expenditure |
3002.800 |
3062.3000 |
|
PBIDT (Excl OI) |
468.500 |
238.900 |
|
Other Income |
212.500 |
456.200 |
|
Operating Profit |
681.000 |
695.100 |
|
Interest |
114.000 |
140.200 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
567.000 |
554.900 |
|
Depreciation |
135.000 |
136.600 |
|
Profit Before Tax |
432.000 |
418.300 |
|
Tax |
108.900 |
87.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
323.100 |
330.700 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
323.100 |
330.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.70 |
11.52
|
14.14
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.09 |
16.53
|
20.51
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.83 |
19.07
|
21.79
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.17
|
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25 |
0.20
|
0.24
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.36
|
1.31
|
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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
LITIGATION DETAILS
IN THE HIGH COURT OF
DELHI AT NEW DELHI
CS(OS) 2749/2011 and I.A. No. 1584/2013 (u/o 39 R. 1 and 2 CPC)
PHONOGRAPHIC PERFORMANCE LTD ..... Plaintiff
Through: Mr. N.B. Joshi, Mr. Neeraj Gupta and
Mr. Purushottam Mishra, Advocates
versus
HT MEDIA LTD .....
Defendant
Through: None
CORAM:
HON'BLE MR. JUSTICE P.K. BHASIN
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
|
SHORT-TERM
BORROWINGS |
|
|
Buyer's credit from HDFC Bank |
138.466 |
|
Buyer's credit from Royal Bank of Scotland |
65.583 |
|
Buyer's credit from Citi Bank |
1026.059 |
|
Buyer's credit from Deutsche Bank |
203.693 |
|
Total |
1433.801 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
|
Buyer's credit from HDFC Bank |
0.000 |
|
Buyer's credit from Citi Bank |
749.263 |
|
Buyer's credit from Deutsche Bank |
414.447 |
|
|
|
|
Total |
1163.710 |
MANAGEMENT DISCUSSION
AND ANALYSIS
OVERVIEW OF ECONOMY
Global Economy The global economy went through yet another year of challenges in 2012. As per the International Monetary Fund (IMF) World Economic Outlook, April 2013, world economic growth hit a low of 3.2 percent in 2012, plummeting from 4.0 percent in 2011. Euro Zone crisis remained a matter of major concern, with most of the economies in the region trapped in a vicious cycle of high unemployment, financial sector fragility, heightened sovereign risks, fiscal austerity and low growth.
Continued economic slowdown in the United States, Europe and Japan had an impact on emerging economies due to a weak demand for their exports. As a consequence, the real GDP growth in emerging and developing economies slowed to 5.1 percent for the year.
IMF forecasts growth in emerging market and developing economies to reach 5.3 percent in 2013, and 5.7 percent in 2014. Growth in the US is forecast to be 1.9 percent in 2013 and 3.0 percent in 2014. In contrast, growth in the Euro area is forecast to be negative 0.3 percent in 2013 and 1.1 percent in 2014.
Indian Economy
In the wake of the worsening global economic situation, the Indian economy continued to experience a slowdown in its activity during the year gone by, growing at 5.0 percent in FY 13 as compared to 6.2 percent in FY 12.
Depreciating rupee, higher fiscal deficit and worsening current account deficit continued to be the major concerns for the Government.
The Reserve Bank of India’s (RBI) tight monetary policy to contain inflation adversely affected the overall investment climate as also the supply side in the country. On the demand side, consumer sentiment continued to be weak, impacting India’s consumer-led growth story.
However, the outlook for the Indian economy continues to be promising in the medium to long term. According to economists, with inflation already showing signs of cooling off, the central bank could announce rate cuts in FY 14.
The World Bank has projected 6.1 percent growth for the Indian economy in FY 14, stating that the Indian economy would slowly recover to high long-term growth as the economy comes back on track due to strong domestic demand, vibrant savings and investments. Growth is further expected to increase to 6.7% in 2014-2015, as per the World Bank.
MEDIA AND
ENTERTAINMENT INDUSTRY
Sustaining momentum
The CY 2012 continued to be a tough period for the Indian Media and Entertainment Industry. As per FICCI-KPMG Indian Media and Entertainment Industry Report 2013, advertising revenues touched Rs.327 Billion during CY 2012, growing at a slower rate of 9 percent. In comparison, the growth rate was 13 percent in CY 2011 and 17 percent in CY 2010. Overall, the industry grew to Rs.821 Billion in CY 2012 as against Rs.728 Billion in CY 2011, registering a growth of 12.6 percent.
However, medium term growth outlook continues to be promising for the industry, backed by an overall healthy economic environment. Consequently, advertising revenues are expected to grow at a CAGR of 14 percent to reach Rs.630 Billion by 2017. The M and E sector is projected to grow at CAGR of 15.2 percent to reach Rs.1661 Billion by CY 2017, with overall revenue expected to grow at a CAGR of 15.2 percent during the same period.
Print Media
Print media continues to grow in India unlike in most other countries, dominating the Indian media landscape with a 46 percent share in the total advertising revenue in CY 2012. However, the sector’s advertising revenues grew at a slower rate of 7.6 percent in CY 2012, reaching Rs.150 Billion, as compared to a growth rate of nearly 11 percent in CY 2011. With more than 82,000 registered newspapers and Rs.224 Billion in total revenues, newspapers form a dominant 94 percent share of the entire print Industry, with the balance 6 percent coming from magazines.
The Indian print industry continues to be an exciting long-term story. There are distinct opportunities in the form of next phase growth engines, viz. growth in Tier II, Tier III cities, growing literacy, growth in Hindi and regional languages, to mention a few. Consequently, the industry is expected to grow at a CAGR of 9 percent over the next five years.
Digital Media
The Indian digital advertising segment has been gradually increasing its share in the advertising pie of the Indian M and E industry. Its share in the overall advertisement spends for the industry increased from 5.1 percent in CY 2011 to 6.6 percent in CY 2012.
The segment’s advertising revenues grew to Rs.21.7 Billion in CY 2012 as against Rs.15.4 Billion in CY 2011, registering an impressive growth of 40.9 percent. This growth is likely to continue, with revenues estimated to reach Rs.87.2 Billion in CY 2017, growing at a CAGR of 32.1 percent. This growth is expected to be backed primarily by higher internet penetration, leading to a shift in consumers’ media consumption habits in favour of digital media. As per current estimates, internet penetration in India continues to be much lower as compared with developed nations like the US and France, as well as some Asian countries like Hong Kong.
Radio
Radio in India is set for its next phase of expansion with the roll-out of new licenses in 294 cities across the country, as announced by the Finance Minister in his Union Budget speech of 2013-14.
The industry had a muted growth of 10.4 percent in CY 2012, reaching revenues of Rs.12.7 Billion as against Rs.11.5 Billion in CY 2011. The growth was mainly driven by volume improvements as prices largely stayed stagnant. There were some profitability improvements in the industry on account of increasing cost discipline and reduction in royalty costs due to approval of Copyright Amendment Bill, in May 2012.
The industry is forecast to grow at a CAGR of 10 percent till the Phase III stations start operations (expected in CY 2014). Post Phase III, the industry is likely to grow at a CAGR of 21 percent. Consequently, Radio’s share in total advertisement spends is expected to increase to 4.3 percent in CY 2017 from the present 3.9 percent, according to the FICCI-KPMG report.
REVIEW OF OPERATIONS
Backed by strategic and operational initiatives, HT Media, one of India’s foremost media companies, performed well across its segments – Print, Radio, Digital, Education and Mobile – during the year.
In the Print business, its newspapers – Hindustan Times, Hindustan and Mint - continued to grow and expand. The newspapers retained their committed readership and also added more readers to their respective portfolios. This was endorsed by the growth in their circulation revenues; Hindustan Times reported a 13 percent increase, mainly on account of increase in cover price across geographies.
The Company’s Radio business also progressed well and its FM Radio Stations, Fever 104, posted healthy growth in profitability. The Online business, operated through the Company’s subsidiary Firefly e-Ventures Limited, also showed positive results during the year.
Hindustan Times
With multiple new initiatives to build business and editorial excellence, the Company’s flagship newspaper Hindustan Times (HT) achieved new milestones of success during the year. It remained the leading English daily in Delhi for the 12th Indian Readership Survey (IRS) round in a row, and was the second largest newspaper (broadsheet) by readership in Mumbai.
With a steadily growing reader base at the national level, the newspaper has a readership of 3.8 Million with over 2.4 Million exclusive readers, as per the IRS results for Q4 2012. Amongst one of the widely-read English dailies in the country, Hindustan Times is published from Delhi, Gurgaon, Noida, Mumbai, Mohali, Jalandhar, Lucknow, Kanpur, Allahabad, Varanasi, Bhopal, Indore, Patna, Ranchi, Jamshedpur and Kolkata.
HT continued to be ahead of competition in Delhi and NCR. It registered a daily readership (Average Issue Readership or AIR) of 2.1 Million. In NCR alone, HT registered a healthy 11 percent growth in readership over the year.
HT Mumbai continued to be a strong growth centre in terms of readership. The newspaper consolidated its No. 2 position in the city, with an AIR of 0.8 Million. It has remained the No. 2 English broadsheet in the city for the last 10 IRS rounds.
Punjab also added the maximum number of readers among all English newspapers in the state in Q4 2012 (vs Q4 2011). In addition to growing its readership in Chandigarh, the newspaper has also made major inroads into the top cities of Amritsar, Ludhiana and Jalandhar.
Hindustan
Maintaining pace with the growing Hindi readership, Hindustan retained its No. 2 position at national level in the IRS (Q4 2012) results. With a Total Readership (TR) of 39.1 Million and an AIR at 12.2 Million, the daily continued to consolidate its position during CY 2012.
Hindustan continues to reap the benefits of completing its expansion process in Uttar Pradesh (U.P.) and Uttarakhand. The most impressive gains for the newspaper came in U.P. - 16 percent over the last 2 years - to post 14.8 Million readers.
Hindustan has established a pan-U.P. presence, with 12 editions and 1.1 Million copies distributed daily across the state. Hindustan now has 4.6 Million AIR in U.P. and Uttarakhand, having added 0.3 Million to AIR in the past one year.
Hindustan continues to post robust growth in relative market share across all key cities of U.P. It retains its No. 1 position in Bareilly while continuing gains from new launches in Aligarh and Moradabad.
Hindustan continues to dominate Bihar and Jharkhand as the single largest daily. It has an AIR of 4.8 Million readers and a readership share of 68 percent in Bihar. Similarly, it has a 1.6 Million AIR, with a reader share of 46 percent in Jharkhand. It is also the second largest Hindi daily in Delhi and NCR with AIR of 1.1 Million.
Mint
Mint, the vibrant business daily of HT Media, continued on its exciting journey of growth and expansion during the year. While retaining its No. 2 position in the niche business newspaper segment in the country, it expanded globally with the launch of its Singapore edition.
Maintaining a steady position, it has emerged as the preferred choice of the discerning reader.
Mint has maintained its dominant presence in metros with the best readership profile among business dailies. It commands a combined readership share of 28 percent in key markets of Delhi-NCR, Mumbai, Bengaluru, Kolkata, Chennai and Ahmedabad put together. It has a readership (AIR) of 0.2 Million (IRS Q4, 2012), and an exclusive readership of 90 percent.
In a first for an Indian media company, Mint went global on April 5, 2013. With the launch of its Singapore edition, it took a major step forward in its goal of becoming a regional media brand. Mint Asia will be published every Friday in Singapore, presenting clear-minded weekly in-depth analysis and sharp insights that will keep the global audience abreast of developments shaping the Indian economy and markets.
Mint, which reaches the who’s who of corporate India, achieved a milestone in its journey of excellence during the year by winning the glorious Media Tenor’s Best Business Media Award, 2012. The award holds great prestige globally and honours diverse, informative and balanced business coverage. Mint has already won two SOPA (Society of Publishers in Asia) awards for its journalistic initiatives on the changing role of people and on the status of women in India.
Radio
Fever 104 FM is recognized as a vibrant, youthful and interactive music destination, committed to its listeners. It is the No. 1 station in Delhi and the fastest growing station in Mumbai with highest listenership share in TG of 20-34 SEC AB. In Bengaluru, Fever 104 FM is now the No. 1 Bollywood station, while Kolkata station is India’s first 24-hour request station.
With strong listener focus, Fever undertook various innovations to engage better with its listeners. Key initiatives included launch of popular radio drama, Bal Gopal (based on Indian mythology), introduction of ‘reality led programming’, Tihar Jail Activity and campaigns on HIV and women safety. Other campaigns included ‘Ticket to Bollywood’, which gave a chance to the common man to fulfill his Bollywood dream.
Events was another major focus area for the FM Radio, which forayed into kids’ entertainment space and got two of the most popular international productions to the country – Noddy in Toyland and Ben 10. The division also concluded other successful marquee events like Kaifi Aur Main, a concert with singer KK, Tribute to Mohd. Rafi, Fever Tree of Wishes, Youth Nexus and Bhakti Ki Awaaz. The Fever Audio Tools (FAT) business has successfully developed IPR content across all major Indian languages and has become a leading content provider in the voice VAS industry in India.
Mobile Solutions
HT Mobile Solutions continued its aggressive march in the past year towards being a leading player in the continuously evolving digital landscape of India.
With its strategic decision to discontinue its joint venture with the overseas partner, and to bring in an industry veteran to head its operations, HT Mobile Solutions took a major step forward in its growth roadmap.
A key initiative by the Company during the year was to restructure itself in two areas of Digital Marketing and Digital Entertainment. The initiative is aimed at providing value-added solutions to its customers and concurrently driving maximum value for its shareholders.
The year saw the Company reach out to the ever growing base of mobile users in the country with multiple solutions for major corporate. Some of these solutions included mass outreach and customer service, rich user experience on mobile applications, enterprise mobility offerings and enhancing print content experience through augmented reality contests and promotions. Others included social media outreach and user engagement, video streaming and packaged audio solutions.
Moving forward, the Company will continue to pursue an aggressive growth strategy, both organically and through partnerships and acquisitions. Backed by a strong management team and technological prowess, the Company is well positioned to become a market leader in this business domain.
FUTURE OUTLOOK
The outlook for the coming year looks promising on the back of growth in existing and new businesses. While their brand strength shall remain the key to their future growth, the Company shall also continue to look for pioneering innovations across its businesses.
HT Mumbai, Hindustan in U.P., Radio, Education and Digital businesses are expected to continue their growth trajectory, along with a strong focus on cost optimization to improve profitability. The Company’s strong financial position further enables it to explore growth opportunities within and outside the media space.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10361536 |
18/06/2012 |
1,787,500,000.00 |
CITIBANK N.A. |
JEEVAN BHARTI BUILDING, 4TH FLOOR, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B42005140 |
|
2 |
10325628 |
19/11/2011 |
600,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B28702934 |
|
3 |
10268169 |
05/02/2013 * |
300,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7TH FLOOR, AMBADEEP BUILDING, 14, K. G. MARG, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B69409076 |
|
4 |
10262657 |
09/08/2011 * |
1,750,000,000.00 |
BNP Paribas |
EAST TOWER (SOOD TOWER), 25 BARAKHAMABA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B19834704 |
|
5 |
10160808 |
18/06/2010 * |
1,000,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A89342968 |
|
6 |
10094301 |
18/03/2011 * |
700,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B09720921 |
|
7 |
90039637 |
20/05/2011 * |
350,000,000.00 |
THE ROYAL BANK OF SCOTLAND N.V. |
HANSALYA BUILDING, 15 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B13882345 |
|
8 |
80036374 |
04/03/2006 * |
500,000,000.00 |
CENTRAL BANK OF INDIA |
PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A00135871 |
* Date of charge modification
FIXED ASSETS
TANGIBLE ASSETS
· Leasehold Land
· Buildings
· Improvement to Leasehold Premises
· Plant and Machinery
· Office Equipments
· Furniture and Fixtures
· Vehicles
INTANGIBLE ASSETS
· Website Development
· Software Licenses
· License Fees
· Software for Radio Business
· Music Contents
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.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
64 |
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.