1. Summary Information
|
|
|
Country |
|
|
Company Name |
LIVING MEDIA INDIA LIMITED |
Principal Name 1 |
Ms. Neera Malhotra |
|
Status |
Satisfactory |
Principal Name 2 |
MR. Karan Ahluwalia |
|
|
|
Registration # |
55-003714 |
|
Street Address |
9 K-Block,
Connaught Circus, New Delhi – 110 001, India |
||
|
Established Date |
09.05.1962 |
SIC Code |
-- |
|
Telephone# |
91-11-23321273 |
Business Style 1 |
Publisher |
|
Fax # |
91-11-23713405 |
Business Style 2 |
-- |
|
Homepage |
Not Available |
Product Name 1 |
-- |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.1,638,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 92.90% Other Top Fifty Shareholders
7.10% |
Banking |
Yes Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
51 Years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
|
World Media
Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3213,946,000 |
Current Liabilities |
1,641,303,000 |
|
Inventories |
260,063,000 |
Long-term Liabilities |
284,205,000 |
|
Fixed Assets |
192,166,000 |
Other Liabilities |
136,261,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,061,769,000 |
|
Invest& other Assets |
1390,073,000 |
Retained Earnings |
2,992,841,000 |
|
|
|
Net Worth |
2,994,479,000 |
|
Total Assets |
5,056,248,000 |
Total Liab. & Equity |
5,056,248,000 |
|
Total Assets (Previous Year) |
4,661,219,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
3,101,841,000 |
Net Profit |
(263,017,000) |
|
Sales(Previous yr) |
3,344,648,000 |
Net Profit(Prev.yr) |
(180,998,000) |
|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LIVING MEDIA INDIA LIMITED |
|
|
|
|
Registered
Office : |
K-9, Connaught Circus, New Delhi - 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.05.1962 |
|
|
|
|
Com. Reg. No.: |
55-003714 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.638 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92132DL1962PLC003714 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELL00186E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL0087H |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Publishers of
Magazines and Books Like “ |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1977000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of India Today Group. It is an established company having satisfactory track record. There appear loss during 2013. The rating upgrade reflects the improvement in LMIL’s financial risk
profile due to the steep debt reduction programme undertaken by the company
post receipt of equity from the Aditya Birla Group. The rating takes into consideration the leading market position in the
magazine segment, the healthy financial flexibility it enjoys as part of the
India Today. Trade relation are reported as fair. Business is active. Payment term
are usually correct 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 |
Long term rating BBB |
|
Rating Explanation |
Have moderate degree safety and carry
moderate credit risk. |
|
Date |
May 03, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A3+ |
|
Rating Explanation |
Have moderate degree safety and carry higher
credit risk. |
|
Date |
May 03, 2013 |
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 : |
9 K-Block,
Connaught Circus, |
|
Tel. No.: |
91-11-23321273/
23321323/ 23713405/ 43530852 |
|
Fax No.: |
91-11-23713405/
23712998 |
|
E-Mail: |
|
|
|
|
|
Warehouse : |
W 18 and 19,
Sector 11, Noida, District |
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-129-2285520 (5
Lines) |
|
Fax No.: |
91-129-2284511 |
|
|
|
|
Factory 2 : |
B-315, Okhla
Industrial Area, Phase-I, |
|
Tel. No.: |
91-11-26818915/ 26818920/
26812998 |
|
Fax No.: |
91-11-26818670 |
|
|
|
|
Branch Office
: |
Tel. No.: 91-22-22026152 Fax No.: 91-22-22026164
Tel. No. 91-842-2211649/ 2211657
Tel. No. 91-11-26818915/26818920/ 26812998/ 26818675 Fax No. 91-11-26818670
Telex 31-75414 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Karan Ahluwalia |
|
Designation : |
Director |
|
Address: |
Flat No.901, Tower 4, Vipul Belmonte, Golf Course Road, Sector - 53,
Gurgaon – 122 002, Haryana, India |
|
Date of Birth/Age : |
20.10.1950 |
|
Qualification : |
M.M.S. - Marketing |
|
Date of Appointment: |
13.06.2001 |
|
DIN No.: |
00008541 |
|
|
|
|
Name : |
Mrs. Neera Malhotra |
|
Designation : |
Director |
|
Address: |
M-11, Greater Kailash Part – II, |
|
Date of Birth/Age : |
15.06.1955 |
|
Qualification : |
Graduate |
|
Date of Appointment: |
27.10.1984 |
|
DIN No.: |
00118387 |
|
|
|
|
Name : |
Mr. Dinesh Bhatia |
|
Designation : |
Whole-time Director |
|
Address : |
B-8/6018, Vasant Kunj,
New Delhi – 110070, India |
|
Date of Birth/Age : |
19.01.1965 |
|
Qualification : |
B.Com(H) and MBA-Finance and A/c’s |
|
Experience : |
22 Years |
|
Date of Appointment: |
01.06.2013 |
|
DIN No.: |
01604681 |
|
|
|
|
Name : |
Mr. Ashish Kumar Bagga |
|
Designation : |
Whole-time Director |
|
Address : |
Ashirwad, A4/2,
DLF City, Phase -1, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
23.04.1961 |
|
Qualification
: |
B.Sc., M. B.A (Marketing) |
|
Experience : |
28 Years |
|
Date of Appointment: |
01.06.2013 |
|
DIN No.: |
01023789 |
|
|
|
|
Name : |
Mr. Bharat Kumar Singh |
|
Designation : |
Nominee Director |
|
Address : |
Kumaram, Ground
Floor, Flat No.1, 10, Worli Sea Face, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1946 |
|
Date of Appointment: |
19.06.2013 |
|
DIN No.: |
00274435 |
|
|
|
|
Name : |
Ms. Devajyoti Bhattacharya |
|
Designation : |
Nominee Director |
|
Address : |
Flat No.9, Sanghi Residency,
77A, Palki Gully, Phrabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
17.01.1958 |
|
Date of Appointment: |
19.06.2013 |
|
DIN No.: |
00868751 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Aroon Purie |
10188* |
|
Rekha Purie |
3062* |
|
IGH Holdings Private Limited, India |
53798* |
|
IGH Holdings Private Limited, India |
14129* |
|
The All India
Investment Corporation Private Limited, India |
29000* |
|
Ankoor Purie |
6125* |
|
Kalli Purie
Bhandal |
01* |
|
World Media
Private Limited, |
156270* |
|
Total |
272573 |
NOTE: * Equity Shares – Rs.6/- each
|
Names of Shareholders (Equity Shares – Rs.10/- each) |
No. of Shares |
|
The All India
Investment Corporation Private Limited, |
225 |
|
|
|
|
Total |
225 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
92.90 |
|
Other top fifty shareholders |
7.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publishers of Magazines and Books Like “India Today’, ‘Business Today’,
‘Target’, ‘Computers Today’ and Journal of Applied Medicines etc. |
||||
|
|
|
||||
|
Products/ Services : |
·
Video News Magazines- ‘Newstrack’, ·
Recorded Music Cassettes etc.
|
||||
|
|
|
||||
|
Brand Names : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· IndusInd Bank Limited, Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi – 110001, New Delhi – 110001, India · Canara Bank, F-19, Connaught Place, New Delhi – 110 001, India · ABN Amro Bank NV, Hansalaya Building, 15, Barkhamba Road, New Delhi – 110 001, India · UCO Bank, Connaught Place, New Delhi – 110 001, India · State Bank of Tranvancore, R.K. Puram Branch, 3, Bhikaji Cama Place, Ansal Chamber-1, New Delhi – 110 066, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India · ICICI Bank Limited – NBCC Place Bhisham Pitamah Marg, Pragati Vihar, New Delhi – 110 003, India · HSBC Bank, USA · HSBC Bank, UK |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered
Accountants |
|
Address : |
Building 8, 8th Floor, Tower – B, DLF, Cyber Ctiy, Gurgaon
– 122 002, |
|
PAN
No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
World Media Private Limited (WMPL) CIN No.: U74899DL1949PTC001677 |
|
|
|
|
Subsidiaries : |
·
Living Media International Limited (LMIL) CIN No.:
U22219DL1962PLC003768 ·
Radio Today Broadcasting Limited (RTBL) CIN No.: U92131DL2000PLC107737 ·
TV Today Network Limited (TVTN) CIN No.: L92200DL1999PLC103001 ·
Harper Collins Publishers India Limited (HCPIL) CIN No.: U22200DL1991PLC042793 ·
Thomson Press ( CIN No.: U22219DL1962PLC003768 ·
ITAS Media Private Limited (ITAS) CIN No.: U74999DL2007PTC158097 ·
Today Retail Network Private Limited (TRNPL) CIN No.: U51909DL2007PTC167147 ·
TV Today Network ( Business) Limited (TVTN(B)L) CIN No.: U74899DL2005PLC142634 ·
Thomson Digital India Limited (TDIL) CIN No.: U72900DL2007PLC170402 ·
Thomson Digital Mauritius Limited (TDML) ·
Premier Security Printers Private Limited (PSPPL) CIN No.: U22219DL2007PLC168391 ·
World Media Trading Limited (WMTL) * ·
Today Merchandise Private Limited (TMPL) ** ·
Today Retail Network Private Limited (TRNPL) ·
Universal Learn Today
Private limited CIN No. :
U00000DL2000PTC107735 ·
Mail Today Newspapers Private Limited (Mail
Today) |
|
|
|
|
Fellow Subsidiary : |
·
World Media International Limited (WMIL) ·
India Today Online Private Limited (ITOPL) |
|
|
|
|
Associates : |
·
Integrated Databases India Limited (IDIL) ·
The All India Film Corporation Private Limited
(AIFCPL) ·
Automotive Exchanges Private Limited ·
IGH
Holding Private Limited |
* Became subsidiary w.e.f. March 25, 2011
** Became subsidiary w.e.f. November 30, 2010
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
20000 |
Preference Shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
|
|
|
|
|
Total |
|
Rs.5.200
Millions |
Issued, Subscribed :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
272798 |
Equity Shares |
Rs.10/- each |
Rs.2.728 Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
272573 |
Equity Shares |
Rs.6/- each |
Rs. 1.636 Millions |
|
225 |
Equity Shares |
Rs.10/- each |
Rs.0.002 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1.638
Millions |
After 30.09.2013
Authorised Capital : Rs.5.200 Millions
Issued, Subscribed & Paid-up Capital : Rs.1.696
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.638 |
0.659 |
|
(b) Reserves & Surplus |
|
2992.841 |
361.409 |
|
(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) |
|
2994.479 |
362.068 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
1549.116 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
422.413 |
405.253 |
|
(d) long-term provisions |
|
110.693 |
93.547 |
|
Total Non-current Liabilities (3) |
|
533.106 |
2047.916 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
284.205 |
892.529 |
|
(b) Trade payables |
|
663.797 |
837.420 |
|
(c) Other current
liabilities |
|
555.093 |
489.442 |
|
(d) Short-term provisions |
|
25.568 |
31.844 |
|
Total Current Liabilities (4) |
|
1528.663 |
2251.235 |
|
|
|
|
|
|
TOTAL |
|
5056.248 |
4661.219 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
184.645 |
332.364 |
|
(ii) Intangible Assets |
|
7.521 |
23.345 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1189.291 |
690.157 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1797.029 |
1182.800 |
|
(e) Other Non-current assets |
|
3.040 |
3.800 |
|
Total Non-Current Assets |
|
3181.526 |
2232.466 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
200.782 |
352.952 |
|
(b) Inventories |
|
260.063 |
264.548 |
|
(c) Trade receivables |
|
846.463 |
747.973 |
|
(d) Cash and cash
equivalents |
|
77.889 |
163.700 |
|
(e) Short-term loans and
advances |
|
487.858 |
877.846 |
|
(f) Other current assets |
|
1.667 |
21.734 |
|
Total Current Assets |
|
1874.722 |
2428.753 |
|
|
|
|
|
|
TOTAL |
|
5056.248 |
4661.219 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.658 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
542.408 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
543.066 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1117.376 |
|
|
2] Unsecured Loans |
|
|
505.272 |
|
|
TOTAL BORROWING |
|
|
1622.648 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2165.714 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
426.073 |
|
|
Capital work-in-progress |
|
|
0.635 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1024.213 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
292.375
|
|
|
Sundry Debtors |
|
|
781.979
|
|
|
Cash & Bank Balances |
|
|
165.914
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
734.250
|
|
Total
Current Assets |
|
|
1974.518
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
537.023
|
|
|
Other Current Liabilities |
|
|
592.955
|
|
|
Provisions |
|
|
129.747
|
|
Total
Current Liabilities |
|
|
1259.725
|
|
|
Net Current Assets |
|
|
714.793
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2165.714 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
3101.841 |
3344.648 |
|
|
|
Other Income |
|
308.514 |
349.184 |
|
|
|
TOTAL |
|
3410.355 |
3693.832 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
328.612 |
342.978 |
|
|
|
Purchases of stock-in-trade |
|
261.822 |
274.943 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
|
(6.834) |
10.205 |
|
|
|
Employee benefit expense |
|
1045.849 |
1001.933 |
|
|
|
Other expenses |
|
1741.708 |
1820.217 |
|
|
|
Prior Period Items |
|
0.000 |
0.000 |
|
|
|
Extraordinary Items |
|
0.000 |
0.000 |
|
|
|
TOTAL |
|
3371.157 |
3450.276 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
39.198 |
243.556 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
234.307 |
351.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(195.109) |
(108.281) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
67.908 |
72.717 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
(263.017) |
(180.998) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
(263.017) |
(180.998) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
(2308.47) |
(2748.31) |
|
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
|
|
3550.004 |
|
|
|
Other Income |
|
|
207.914 |
|
|
|
TOTAL |
|
|
3757.918 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
|
|
842.231 |
|
|
|
Manufacturing service costs |
|
|
503.961 |
|
|
|
Employee related expenses |
|
|
923.711 |
|
|
|
Administrative selling other expenses |
|
|
1351.152 |
|
|
|
TOTAL |
|
|
3621.055 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
136.863 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES |
|
|
186.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(49.893) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
78.859 |
|
|
|
|
|
|
|
|
|
Add |
Extraordinary
items |
|
|
279.549 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period
items |
|
|
(7.372) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
|
143.425 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
(0.002) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
|
143.427 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
|
(542.649) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(399.222) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales (Other than Subscription) |
|
|
2.408 |
|
|
|
Magazine Subscription |
|
|
1.536 |
|
|
|
Advertisement (excluding Barters)
|
|
|
51.464 |
|
|
|
Others (Syndication Services, Royalty, Interest, Miscellaneous Income
etc.) |
|
|
14.279 |
|
|
TOTAL EARNINGS |
|
|
69.687 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
284.989 |
|
|
|
Capital Goods |
|
|
0.000 |
|
|
|
Traded Periodicals |
|
|
45.486 |
|
|
TOTAL IMPORTS |
|
|
330.475 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
2177.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(7.71)
|
(4.90) |
3.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.48)
|
(5.41) |
4.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.80)
|
(4.56) |
5.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
(0.50) |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.09
|
6.74 |
2.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.08 |
1.57 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
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 |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loan
from bank |
0.000 |
385.000 |
|
Deposits |
13.610 |
13.980 |
|
Loa and advance from others |
20.300 |
20.875 |
|
|
|
|
|
Total |
33.910 |
419.855 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10186710 |
11/11/2009 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
A73720443 |
|
2 |
10126326 |
10/08/2013 * |
135,000,000.00 |
INDUSIND BANK LTD. |
Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi, Delhi - 110001,
INDIA |
B83535138 |
|
3 |
90062288 |
08/04/2009 * |
100,000,000.00 |
UCO Bank |
H 46/47, New Asiatic Building, Connaught Place, New Delhi, Delhi -
110001, INDIA |
A61220554 |
|
4 |
80062137 |
12/10/2000 * |
50,000,000.00 |
CANARA BANK |
F-19, CONNAUGHT CIRCUS, NEW DELHI, Delhi - 110001, INDIA |
- |
|
5 |
80032541 |
04/10/2012 * |
85,000,000.00 |
STATE BANK OF TRAVANCORE |
R. K. PURAM BRANCH, 3 BHIKAJI CAMA PLACE, ANSAL CHAMBER- 1, NEW DELHI,
Delhi - 110066, INDIA |
B58952870 |
|
6 |
90059379 |
17/05/2012 * |
220,000,000.00 |
Canara Bank |
F-19, Connaught Circus, New Delhi, Delhi - 110001, INDIA |
B41258500 |
* Date of charge modification
BUSINESS
PERFORMANCE
The Company’s
total turnover aggregated to Rs. 3410.356 millions as against Rs.3693.832
millions during previous year. The Company made a profit before interest,
depreciation and tax amounting to Rs. 30.280 millions against last year’s
comparable number of Rs. 201.344 millions. However, the year under report
resulted in a loss of Rs. 263.018 millions after interest, depreciation and tax
compared to loss of Rs. 180.999 millions during last year. There was no tax
liability this year or last year. Global
Economy went through yet another year of challenges in 2012. The Rupee
depreciated sharply against major Currencies and the Indian Economy continued
to experience slowdown in its economic activity during the year gone by which
grew by just 5% during Financial Year 2012-13.
Year brought tough
times for Media Industry resulting in Advertisers becoming cautious in their
marketing initiatives leading to relatively muted growth in their overall
spending on Advertising. There has been a tough challenge from competing
Electronic Media too which resulted in low Advertising spends in Print Media.
Despite
challenging environment for Media business, the Company suffered marginal
decline in its top-line. Consequently, net results were also under pressure due
to increased input costs partly because of volatile adverse exchange
fluctuations and higher employee costs. Nevertheless, in Magazine Print Media
Segment, the Company is still the largest Print Media Company in India
publishing 26 publications both as main editions and sub-editions in regional
languages apart from English. The Company further continued its efforts in
publishing various periodicals under Licensing Arrangements to broad base its
presence in Print Media sector.
The Company’s
other business in Retail under brand name ‘Media Mart’ was consolidated to
optimize future market by concentrating more on outlets at Airports, Shopping
Malls besides outlets at Metro Stations. Possibility of having outlets in other
formats like independent Kiosks, IT Parks, Office Complexes, Educational
Institutions etc. is also being looked at. This should result in higher volume
and consequently increase in top-lines for retail business.
Indian Digital
Advertising Segments have been gradually increasing its share in advertising
pie of Indian Media and Entertainment Industry. Company has taken steps to
strengthen Digital Media Segment in synchronization with Print Media.
Possibilities are also being explored to have tie-up with Associate Company TV
Today Network Limited for tie-ups benefiting both. The revenue in this segment
registered an increase of 23% over last year, which is quite encouraging.
In order to
sustain future growth, Company plan to consolidate the existing business and
strategic forays into new business of diaries and stationary items, cutting
down costs, improvising products, new product launches in its forward journey.
The Directors are hopeful that as literacy level continues to push readership,
the potential for growth in Print Media remain significant.
Majithia Wage
Board Recommendations announced last year and made applicable with
retrospective effect from 1st July 2010 were challenged through
Indian Newspaper Society and matter is sub-judice with Supreme Court which is
likely to pronounce its judgment shortly. If the recommendations get implemented
without any dilution, there would be increase in the wage costs which will put
further pressure on profitability of the Company.
FINANCE / INVESTMENT
During current
Financial Year the Company acquired 1,464,497 equity shares of Universal Learn
Today Private Limited @ Rs.10/- per share and 24,093,330 equity shares of India
Today Online Private Limited @ Rs10/- per share at a premium of Rs. 20/- per
share. With the acquisition of these equity shares both these Cos became
subsidiaries of the Company. Further, the Company also paid Rs. 1354.200
millions as Share Application Money to India Today Online Private Limited, Rs.
20.000 millions to ITAS Media Private Limited and Rs. 77.000 millions to Today
Merchandise Private Limited. for acquiring further shares in these Subsidiaries
Companies.
During current
financial year, the Joint Venture Agreement dated 1st December, 2003
with HarperCollins Publishers Limited, UK was discontinued. As per Share
Purchase Agreement dated 29th November, 2012, 15000 equity shares of
Rs.100/- each were sold to Harper Collins Publishers Limited, UK for a
consideration of Rs. 213.000 millions in accordance with the agreement. Now
Harper Collins Publishers (India) Limited is no longer a subsidiary of the
Company.
During the year, the
Company received 392,432 Bonus Shares of Re. 1/- each from Automotive Exchange
Private Limited.
During the year,
the Company decided to call Rs. 3/- per share on partly paid equity shares of
218,775 shares and received Rs. 0.656 millions from the shareholders. Further,
the issued and subscribed and Paid-up equity share capital of the Company was
increased by 53,798 shares of Rs. 10/- each Rs. 6/- paid up from IGH Holdings
Private Limited.
FIXED ASSETS
Tangible Assets
· Land – Free hold
· Land – Leasehold
· Buildings
· Leasehold Improvements
· Plant and Machinery
· Vehicles
· Furniture and Fittings
Intangible Assets
· Copyrights
· Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.