MIRA INFORM REPORT

1. Summary Information

		Country	INDIA
Company Name	HT BURDA MEDIA LIMITED	Principal Name 1	MR. PRIYAVRAT BHARTIA
Status	Moderate	Principal Name 2	MR. SHARAD SAXENA
		Registration #	55-181208
Street Address	2^nd Floor, Hindustan Times House, 18-20, Kasturba Gandhi Marg, New Delhi – 110001, Delhi, India
Established Date	22.07.2008	SIC Code	--
Telephone#	91-11-66561608	Business Style 1	--
Fax #	91-11-66561445	Business Style 2	--
Homepage	www.hindustantimes.com	Product Name 1	BUSINESS OF PRINTING
# of employees	NOT AVAILABLE	Product Name 2	PRE-PRESS
Paid up capital	Rs.1,010,000,000/-	Product Name 3	RELATED SERVICES
Shareholders	FOREIGN HOLDINGS 49.00%, BODIES CORPORATE 51.00%	Banking	HDFC BANK LIMITED
Public Limited Corp.	NO	Business Period	4 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	B (32)
Related Company
Relation	Country	Company Name	CEO
HOLDING COMPANY	INDIA	HT MEDIA LIMITED	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	270,997,000	Current Liabilities	458,817,000
Inventories	290,734,000	Long-term Liabilities	672,437,000
Fixed Assets	1070,391,000	Other Liabilities	848,000
Deferred Assets	0.000	Total Liabilities	1,132,102,000
Invest& other Assets	165,393,000	Retained Earnings	0.000
		Net Worth	665,413,000
Total Assets	1,797,515,000	Total Liab. & Equity	1795,515,000
Total Assets (Previous Year)	1,709,211,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	992,201,000	Net Profit	(140,305,000)
Sales(Previous yr)	579,919,000	Net Profit(Prev.yr)	(142,844,000)

MIRA INFORM REPORT

Report Date :

15.03.2013

IDENTIFICATION DETAILS

Name :	HT BURDA MEDIA LIMITED

Registered Office :	2^nd Floor, Hindustan Times House, 18-20, Kasturba Gandhi Marg, New Delhi – 110001, Delhi

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	22.07.2008

Com. Reg. No.:	55-181208

Capital Investment / Paid-up Capital :	Rs.1010.000 Millions

CIN No.: [Company Identification No.]	U74120DL2008PLC181208

TAN No.: [Tax Deduction & Collection Account No.]	DELH06837F

PAN No.: [Permanent Account No.]	AACCH0854L

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	The Company is engaged in the Business of Printing, Pre-Press and Related Services.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 2600000

Status :	Moderate

Payment Behaviour :	Slow but Correct

Litigation :	Clear

Comments :	Subject is a joint venture between HT Media Limited, India (51%) and Burda Druck GmbH, Germany (49%) It is an established company having a moderate track record. There appears huge accumulated losses recorded by the company, it has incurred loss from its operation during 2012. However, net worth appears to be good. Trade relations are reported as fair. Business is active. Payments terms are slow but correct. In view of strong holding company, the subject can be considered for business dealings with slight.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	2^nd Floor, Hindustan Times House, 18-20, Kasturba Gandhi Marg, New Delhi -110001, India
Tel. No.:	91-11-66561608
Mobile No :	91-9811126075 (Mr. Rahul Gupta) 91-9873217789 (Mr. Bhupinder Girdhar Gopal)
Fax No.:	91-11-66561445
E-Mail :	secretarial@hindustatimes.com rahul.gupta@hindustantimes.com bhupinder.girdhar@hindustantimes.com
Website :	www.hindustantimes.com

Corporate Office :	Plot No. 8, Udyog Vihar, Greater Noida-201306, Uttar Pradesh, India
Tel. No.:	91-120-2569862/63/64/6770500/01/02
Fax No.:	91-120-2569056/6770504
E-Mail :	biswajit.majumdar@hindustantimes.com ravi.sharma@hindustantimes.com

DIRECTORS

AS ON 10.09.2012

Name :	Mr. Priyavrat Bhartia
Designation :	Director
Address :	19, Friends Colony West, Delhi – 110065, India.
Date of Birth/Age :	04.10.1976
Date of appointment :	11.09.2009
DIN No.:	00020603

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L95000DL1920PLC099621	THE BIRLA COTTON SPINNING AND WEAVING MILLS LIMITED.	Director	29/06/1998	29/06/1998	-	Active	NO
2	U74899DL1927PLC000155	THE HINDUSTAN TIMES LTD	Director	22/10/1998	22/10/1998	-	Active	NO
3	U72900DL1999PLC102132	HT INTERACTIVE MEDIA PROPERTIES LIMITED	Director	25/10/1999	25/10/1999	23/11/2012	Active	NO
4	U72900DL2000PTC105101	GO4CRICKET.COM (INDIA) PRIVATE LIMITED	Director	01/02/2001	01/02/2001	-	Active	NO
5	U72200DL1994PTC058580	NETWORK PROGRAMS (INDIA) Private LIMITED	Director	27/09/2002	27/09/2002	01/03/2009	Active	NO
6	U74999UP1991PTC035741	JUBILANT ENPRO PRIVATE LIMITED	Director	26/12/2009	18/06/2005	-	Active	NO
7	U92131DL2005PLC142194	HT Music and Entertainment Company Limited	Nominee director	28/10/2005	28/10/2005	01/10/2009	Active	NO
8	L22121DL2002PLC117874	HT MEDIA LIMITED	Whole-time director	01/02/2011	28/10/2005	-	Active	NO
9	U18101DL1983PLC099631	UDIT ( INDIA ) LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
10	U92132DL1990PLC041894	Paxton Estate Management Services Limited	Additional director	08/01/2007	08/01/2007	19/01/2011	Active	NO
11	U51909UP2004PTC043687	JUBILANT REALTY PRIVATE LIMITED	Director	04/05/2007	04/05/2007	-	Active	NO
12	U74140DL2007PLC164566	Firefly e-Ventures Limited	Whole-time director	01/08/2008	11/06/2007	-	Active	NO
13	U74900DL2007PLC168717	HT Digital Media Holdings Limited	Director	01/08/2008	26/09/2007	-	Active	NO
14	U65922DL2007PTC170025	Earthstone Holding Private Limited	Director	31/10/2007	31/10/2007	-	Active	NO
15	U74120DL2008NPL176044	SHINE FOUNDATION	Director	30/09/2008	29/03/2008	-	Active	NO
16	U65100DL2008PTC176149	Earthstone Holding (one) Private Limited	Director	31/03/2008	31/03/2008	-	Active	NO
17	U74140UP2007PTC052027	HIGH STREET CAPITAL PRIVATE LIMITED.	Director	30/12/2008	01/04/2008	-	Active	NO
18	U80902DL2008PLC177056	HT Education Limited	Director	30/09/2009	23/04/2008	-	Active	NO
19	U74120DL2008PTC178698	Earthstone Holding (Three) Private Limited	Director	28/05/2008	28/05/2008	-	Active	NO
20	U67120DL2008PTC178754	Earthstone Holding (Two) Private Limited	Director	29/05/2008	29/05/2008	-	Active	NO
21	U74120DL2008PLC181208	HT Burda Media Limited	Director	11/09/2009	22/07/2008	-	Active	NO
22	U74900DL2009PLC187795	HT Mobile Solutions Limited	Director	02/08/2010	19/02/2009	-	Active	NO
23	L21090BR1918PLC000013	Hindustan Media Ventures Limited	Director	15/07/2011	06/01/2010	-	Active	NO
24	U80900DL2010PLC198772	HT Learning Centers Limited	Director	05/02/2010	05/02/2010	22/02/2010	Active	NO
25	L24100UP2007PLC032909	Jubilant Industries Limited	Director	23/08/2011	28/10/2010	-	Active	NO
26	U52100UP2008PLC035862	JUBILANT AGRI AND CONSUMER PRODUCTS LIMITED	Director	19/08/2011	09/05/2011	-	Active	NO
27	U80904DL2011NPL219159	HT Global Education	Director	13/05/2011	13/05/2011	03/12/2011	Active	NO
28	U80301DL2011PTC226705	INDIA EDUCATION SERVICES PRIVATE LIMITED	Director	07/09/2012	22/12/2011	-	Active	NO
29	U65993DL2012PLC244287	BCM Holding Limited	Director	31/10/2012	31/10/2012	-	Active	NO
30	U74999DL2012PTC244434	SB TRUSTEESHIP SERVICES PRIVATE LIMITED	Director	05/11/2012	05/11/2012	-	Active	NO
31	U74140DL2012PTC244410	PSB TRUSTEE COMPANY PRIVATE LIMITED	Director	05/11/2012	05/11/2012	-	Active	NO
32	U70100DL2012PLC244639	Birla Real Estate Limited	Director	08/11/2012	08/11/2012	-	Active	NO
33	U65100DL2012PLC246557	Earthstone Investment & Finance Limited	Director	21/12/2012	21/12/2012	-	Active	NO
34	AAB-1831	PRIYAVRAT COMPUTERS LLP	Designated Partner	23/10/2012	23/10/2012	-	Active	NO
35	AAB-2090	SHOBHANA COMMUNICATIONS LLP	Designated Partner	08/11/2012	08/11/2012	-	Active	NO

Name :	Mr. Rajiv Varma
Designation :	Director
Address :	S – 441, Greater Kailash – II, Delhi – 110048, India
Date of Birth/Age :	16.09.1958
Date of appointment :	11.09.2009
DIN No.:	00017110

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U92131DL2005PLC142194	HT Music and Entertainment Company Limited	Nominee director	28/10/2005	28/10/2005	-	Active	NO
2	U74140DL2007PLC164566	Firefly e-Ventures Limited	Director	01/08/2008	11/06/2007	-	Active	NO
3	U74900DL2007PLC168717	HT Digital Media Holdings Limited	Director	01/08/2008	26/09/2007	-	Active	NO
4	U80902DL2008PLC177056	HT Education Limited	Director	30/09/2009	23/04/2008	-	Active	NO
5	U74120DL2008PLC181208	HT Burda Media Limited	Director	11/09/2009	22/07/2008	-	Active	NO
6	U74900DL2009PLC187795	HT Mobile Solutions Limited	Director	02/08/2010	19/02/2009	-	Active	NO
7	L22121DL2002PLC117874	HT MEDIA LIMITED	Whole-time director	02/08/2010	01/09/2009	-	Active	NO
8	L21090BR1918PLC000013	Hindustan Media Ventures Limited	Director	04/06/2010	06/01/2010	-	Active	NO
9	U80900DL2010PLC198772	HT Learning Centers Limited	Director	30/09/2010	05/02/2010	-	Active	NO
10	U80904DL2011NPL219159	HT Global Education	Director	07/09/2012	13/05/2011	-	Active	NO
11	U80301DL2011PTC226705	INDIA EDUCATION SERVICES PRIVATE LIMITED	Director	07/09/2012	22/12/2011	-	Active	NO
12	U72200KA2012PTC063627	MyParichay Services Private Limited	Director	14/12/2012	14/12/2012	-	Active	NO

Name :	Ms. Sharda Saxena
Designation :	Directyor
Address :	204 B Beverly Park I, MG Road, Gurgaon – 122001, Haryana, India
Date of Birth/Age :	28.07.1960
Date of appointment :	11.09.2009
DIN No.:	02239469

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74120DL2008PLC181208	HT Burda Media Limited	Whole-time director	11/09/2009	22/07/2008	-	Active	NO
2	U24246DL2011PTC215417	Sharads Enterprises Private Limited	Director	08/03/2011	08/03/2011	-	Active	NO
3	U74210DL2011PLC216529	HTB Liebert Engineering Solutions Limited	Director	25/03/2011	25/03/2011	-	Strike off	NO

Name :	Mr. Christophe Francois Barth
Designation :	Director
Address :	22, RUE DE DIEPPE, Diebolsheim – 67230
Date of Birth/Age :	21.06.1973
Date of Appointment :	11.09.2009
DIN No.:	02248844

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74120DL2008PLC181208	HT Burda Media Limited	Director	11/09/2009	03/09/2008	-	Active	NO
2	U74210DL2011PLC216529	HTB Liebert Engineering Solutions Limited	Director	25/03/2011	25/03/2011	-	Strike off	NO
3	U74200DL2011FTC220760	BL Engineering Solutions Private Limited	Director	13/06/2011	13/06/2011	-	Active	NO
4	U74999DL2011FTC227823	HUBERT BURDA MEDIA INDIA PRIVATE LIMITED	Director	23/11/2011	23/11/2011	-	Active	NO

Name :	Mr. Peter Brian Kennedy
Designation :	Director
Address :	32/7, Supereme Residence Nang Ling, CH I 4, Bangkok – 10120
Date of Birth/Age :	09.06.1949
Date of Appointment :	11.09.2009
DIN No.:	02248893

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74120DL2008PLC181208	HT Burda Media Limited	Director	11/09/2009	03/09/2008	-	Active	NO

Name :	Egon Weimer
Designation :	Director
Address :	Blochlestr 2, Offenburg – 77654
Date of Birth/Age :	07.05.1952
Date of Appointment :	11.09.2009
DIN No.:	02249126

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74120DL2008PLC181208	HT Burda Media Limited	Director	11/09/2009	21/07/2009	-	Active	NO
2	U74200DL2011FTC220760	BL Engineering Solutions Private Limited	Director	13/06/2011	13/06/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Bhupinder Girdhar Gopa
Designation :	Secretary
Address :	3 A / 18, N.I., Faridabad – 121001, Haryana, India
Date of Appointment :	09.07.2012
PAN No :	AUEPG3953C

MAJOR SHAREHOLDERS

AS ON 10.09.2012

Names of Shareholders	No. of Shares
Shobhana Bhartia	1
Paiyavrat Bhartia	1
Shamit Bhartia	1
Rajiv Verma	1
Sharad Saxena	1
HT Media Limited	51509994
Piyush Gupta	1
Burda Druck GmbH	49490000
TOTAL	101000000

AS ON 10.09.2012

Equity Shares Break Up	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	49.00
Bodies corporate	51.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the Business of Printing, Pre-Press and Related Services.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Facilities :

Secured Loan

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Rupee Term Loan

185.737

118.276

TOTAL

185.737

118.276


Banking Relations :	--

Auditors :
Name :	S.V. Ghatalia and Associates Chartered Accountants
Address :	Golf View Corporate Tower – B, Sector – 42, Sector Road, Gurgaon-122002, Haryana, India
Tel. No.:	91-124-4644000
Fax No.:	91-124-4644050

Ultimate Holding Company :	The Hindustan Times Limited CIN No : U74899DL192C000155

Holding Company:	HT Media Limited CIN No : L22121DL2002PLC117874

Subsidiaries:	HTB Liebert Engineering Solutions Limited

Fellow Subsidiaries:	HT Music and Entertainment Company Limited CIN No.U92131DL2005PLC142194 Firefly e-Ventures Limited CIN No.U74140DL2007PLC164566 HT Digital Media Holdings Limited CIN No.U74900DL2007PLC168717 Hindustan Media Ventures Limited CIN No.L21090BR1918PLC000013 HT Mobile Solutions Limited CIN No.U74900DL2009PLC187795 Shradhanjali Investment and Trading Company Limited CIN No.U74999DL1986PLC099623 HTL Investment and Trading Company Limited CIN No.U74899DL1986PLC099626 HT Interactive Media Properties Limited CIN No.U72900DL1999PLC102132 Go4i.com (India) Private Limited CIN No.U99999MH2000PTC124781 HT Films Limited CIN No.U22222DL2007PLC170175 White Tide Amusement Limited CIN No.U74120DL2007PLC170701 HT Education Limited CIN No.U80902DL2008PLC177056 HT Learning Centers Limited CIN No.U80900DL2010PLC198772 HT Overseas Pte Limited HT Global Education CIN No.U80904DL2011NPL219159 ED World Private Limited CIN No.U80220DL2011PTC226816 India Education Services Private Limited CIN No.U80301DL2011PTC223705 Paxton Trexim Private Limited CIN No.U57909DL1993PTC107368 Sharad Enterprises Private Limited CIN No.U24246DL2011PTC215417

CAPITAL STRUCTURE

AS ON 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
101000000	Equity Shares	Rs.10/- each	Rs.1010.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
101000000	Equity Shares	Rs.10/- each	Rs.1010.000 Millions

FNANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1010.000	1010.000	780.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		(344.587)	0.000	0.000
4] (Accumulated Losses)		0.000	(204.283)	(61.439)
NETWORTH		665.413	805.717	805.717
LOAN FUNDS
1] Secured Loans		185.737	118.276	0.000
2] Unsecured Loans		486.700	300.000	150.444
TOTAL BORROWING		672.437	418.276	150.444
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		1337.850	1223.993	869.005

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		1070.391	1115.020	9.282
Capital work-in-progress		0.000	0.000	941.374

INVESTMENT		165.393	100.352	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	290.734	200.988	92.097
	Sundry Debtors	147.169	123.053	37.379
	Cash & Bank Balances	33.557	114.340	118.110
	Other Current Assets	36.952	0.000	0.000
	Loans & Advances	53.319	55.458	12.289
Total Current Assets		561.731	493.839	259.875
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	90.287	476.113	334.674
	Other Current Liabilities	368.530	7.685	6.232
	Provisions	0.848	1.420	0.620
Total Current Liabilities		459.665	485.218	341.526
Net Current Assets		102.066	8.621	(81.651)

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		1337.850	1223.993	869.005

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	992.201	579.919	69.620
		Other Income	70.520	42.462	20.271
		TOTAL (A)	1062.721	622.381	89.891

Less	EXPENSES
		Consumption Material Changes Inventories	682.732	451.677	13.014
		Manufacturing Service Costs	0.000	130.742	0.910
		Employee Related Expenses	81.933	87.737	38.725
		Administrative Selling Other Expenses	375.780	94.325	48.969
		Change in inventories of finished goods, work in progress and stock in trade	(27.666)	-	-
		TOTAL (B)	1112.779	764.481	101.618

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(50.058)	(142.100)	(11.727)

Less	FINANCIAL EXPENSES (D)		64.065	29.878	0.493

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(114.123)	(171.978)	(12.220)

Less/ Add	DEPRECIATION/ AMORTISATION (F)		91.222	71.218	1.638

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(205.345)	(243.196)	(13.858)

Less	TAX (H)		(65.040)	(100.352)	0.000

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(140.305)	(142.844)	(13.858)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(204.283)	(61.439)	(47.581)

	BALANCE CARRIED TO THE B/S		(344.588)	(204.283)	(61.439)

	EARNINGS IN FOREIGN CURRENCY
		Printing Charges	N.A	507.129	1.927
		Pre-Press Services	N.A	10.605	22.744
	TOTAL EARNINGS		N.A	517.734	24.671

	IMPORTS
		Raw Materials & Consumables	N.A	339.272	90.742
		Components & Spare Parts	N.A	15.843	15.843
		Raw Materials & Consumables	N.A	25.528	288.846
	TOTAL IMPORTS		N.A	380.643	395.431

	Earnings Per Share (Rs.)		(1.39)	(1.72)	(0.36)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(13.20)	(22.95)	(15.42)

Net Profit Margin (PBT/Sales)	(%)	(20.70)	(41.94)	(19.90)

Return on Total Assets (PBT/Total Assets}	(%)	(18.30)	(15.12)	(5.15)

Return on Investment (ROI) (PBT/Networth)		(0.30)	(0.30)	(0.02)

Debt Equity Ratio (Total Liability/Networth)		1.70	1.12	0.68

Current Ratio (Current Asset/Current Liability)		0.11	1.02	0.76

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	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	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	No

UNSECURED LOAN

Particulars	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Deposits related parties	486.700	300.000
Interest accrued due other debts	0.000	0.000
TOTAL	486.700	300

Nature of Operation

HT Burda Media Limited is a joint venture between HT Media Limited, India (51%) and Burda Druck GmbH, Germany (49%) This JV is primarily engaged in the commercial printing business in India using rotograveure technology. The range of product being produced include catalogues for the export market and annual reports, magazines, text books, catalogues, brochure etc, for the domestic market.

Business and Operations:-

The Company is engaged in the business of commercial printing, with a state-of-the-art Rotogravure technology-based printing facility at Greater Noida. In FY 2012, your Company registered total revenue of Rs.1062.700 millions, which mainly came from print-orders of Annual Reports for listed companies, premium catalogues for private clients and large-volume Government orders in the education space. During the year, SAP was implemented in the organization, to improve operational efficiency.

FORM 8

Corporate identity number of the company	U74120DL2008PLC181208
Name of the company	HT BURDA MEDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	2^nd Floor, Hindustan Times House, 18-20, Kasturba Gandhi Marg, New Delhi -110001, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	10226570
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India
Amount secured by the charge	Rs.350.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Bank PLR – 675 BPS (HDFC Bank PLR is currently at 17.75%) or as may be communicated by the bank to the Company from time to time Terms of repayment As stipulated by the Bank from time to time Margin As stipulated by the Bank from time to time Extent and operation of the charge Hypothecate by way of first charge all the stock in trade and book debts both present and future consisting of raw materials, finished goods, goods in process of manufacturing and other merchandise and all the book debts.
Short particulars of the property charged (Including location of the property)	Hypothecation by way of first charge on all the stock and book debts of the client both present and future
Particulars of the present modification	Revision in the said working capital facilities, by including in the fund-based limit thereof, borrowings by way of "Export Packing Credit (EPC), Pre-shipment Credit in foreign Currency (PCFC) and Post Shipment Facility" and LC/BG limits increased to Rs.350.000 Millions.

FIXED ASSETS

· Plant and Machinery

· Office Equipments

· IT Equipments

· Computers

· Vehicles

· Furniture and Fixtures

· Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 tansactions 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.54.64
UK Pound	1	Rs.88.17
Euro	1	Rs.73.13

INFORMATION DETAILS

Report Prepared by :

HET

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		32

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

290.734

200.988

147.169

123.053

33.557

114.340

36.952

0.000

53.319

55.458

561.731

90.287

476.113

368.530

7.685

0.848

1.420

459.665

102.066

(13.20)

(22.95)

(20.70)

(41.94)

(18.30)

(15.12)

(0.30)

(0.30)

1.70

1.12

0.11

1.02

Unit