1. Summary Information
|
Country |
|
||
|
Company Name |
LOKMAT MEDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Vijay Jawaharlal Darda |
|
Status |
Good |
Principal Name 2 |
Mr. Devendra Vijay Darda |
|
Registration # |
11-16613 |
||
|
Street Address |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400021, |
||
|
Established Date |
21.06.1973 |
SIC Code |
-- |
|
Telephone# |
91-22-22856749 (4 Lines)/
22028211/ 25856749/ 24820000 |
Business Style 1 |
Printing |
|
Fax # |
91-22-22028211/ 24820010 |
Business Style 2 |
Publishing |
|
Homepage |
Product Name 1 |
Newspapers |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 414,871,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
Bank of |
|
Public Limited Corp. |
No |
Business Period |
41 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba
(54) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Joint Venture |
-- |
IBN-Lokmat News Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.05.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,503,234,000 |
Current Liabilities |
721,812,000 |
|
Inventories |
616,448,000 |
Long-term Liabilities |
576,809,000 |
|
Fixed Assets |
1,724,338,000 |
Other Liabilities |
176,925,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,475,546,000 |
|
Invest& other Assets |
684,949,000 |
Retained Earnings |
2,638,552,000 |
|
|
|
Net Worth |
3,053,423,000 |
|
Total Assets |
4,528,969,000 |
Total Liab. & Equity |
4,528,969,000 |
|
Total Assets (Previous Year) |
4,821,319,000 |
|
|
|
P/L Statement as of |
31.05.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
0,000 |
Net Profit |
484,496,000 |
|
Sales(Previous yr) |
4,407,652,000 |
Net Profit(Prev.yr) |
492,004,000 |
MIRA INFORM REPORT
|
Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
LOKMAT MEDIA PRIVATE LIMITED
(w.e.f. 22.05.2012) |
|
|
|
|
Formerly Known
As : |
LOKMAT MEDIA LIMITED (w.e.f. 21.09.2010) LOKMAT NEWSPAPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.05.2012 |
|
|
|
|
Date of
Incorporation : |
21.06.1973 |
|
|
|
|
Com. Reg. No.: |
11-016613 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 414.871
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1973PLC016613 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1888J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Printing and Publishing of Newspapers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and well established company having a good track
record. The company has seen an increase in its sales turnover. However, their
appears slight dip in the net profitability of the company during 2012. The overall financial position of the company appears to be sound and
healthy. Directors are reported as well experienced and knowledgeable people. Trade relations are reported as decent. Business is active. Payments
terms are regular and as per commitments. The company can be considered good 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
TERM LOAN : CRISL A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
13.03.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
COMMERCIAL PAPER : CRISIL A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
13.03.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Nitin |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-22856749 |
|
Date : |
31.10.2013 |
LOCATIONS
|
Registered Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, Maharashtra, India |
|
Tel. No.: |
91-22-22856749 (4 Lines) /
22028211 / 25856749 / 24820000 |
|
Fax No.: |
91-22-22028211 / 24820010 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
2nd Floor, Nirlon, |
|
Tel. No.: |
91-22-24820000 |
|
Fax No.: |
91-22-24820010 |
|
|
|
|
Coverage of Lokmat Publishing Centers: |
Located at:
|
|
|
|
|
Lokmat All |
Located at:
|
DIRECTORS
As on: 17.11.2012
|
Name : |
Mr. Vijay Gopal Jindal |
|
Designation : |
Director |
|
Address : |
W-22, Greater Kailash, Part – I, New Delhi – 110048, India |
|
Date of Birth/Age : |
08.03.1957 |
|
Qualification : |
BSC MBA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00008527 |
|
|
|
|
Name : |
Mr. Vijay Jawaharlal Darda |
|
Designation : |
Whole Time Director |
|
Address : |
‘Yavatmal House’, Rahate Colony, Pt. J.N. Marg, Nagpur, Maharashtra, India. |
|
Date of Birth/Age : |
14.05.1950 |
|
Qualification : |
B.A.DIPLOMA IN JOURNALISM |
|
Date of Appointment : |
24.01.1974 |
|
PAN No.: |
AAAPD9500A |
|
DIN No.: |
00009902 |
|
|
|
|
Name : |
Mr. Rajesh Madan Mohan Khanna |
|
Designation : |
Director |
|
Address : |
Haveli, 1st Floor, 19, LD, Ruparel Marg, Malabar Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
24.12.1965 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00032562 |
|
|
|
|
Name : |
Mr. Jayendra Natwarlal Shah |
|
Designation : |
Director |
|
Address : |
52, Apurva Building, 5th Floor, Nepeanse Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1959 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00084759 |
|
|
|
|
Name : |
Mr. Rishi Rajendra Darda |
|
Designation : |
Managing Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1978 |
|
Qualification : |
B.COM PG DIPLOMA IN JOURNALISM MBA |
|
Date of Appointment : |
21.11.2001 |
|
PAN No.: |
AAKPD2934Q |
|
DIN No.: |
00293183 |
|
|
|
|
Name : |
Mr. Devendra Vijay Darda |
|
Designation : |
Managing Director |
|
Address : |
Rahate Colony, Pt. J.N. Marg, Nagpur, Maharashtra, India. |
|
Date of Birth/Age : |
23.11.1974 |
|
Qualification : |
MBA |
|
Date of Appointment : |
20.05.2002 |
|
PAN No.: |
AAAPD9501B |
|
DIN No.: |
00319192 |
|
|
|
|
Name : |
Mr. Karan Rajendra Darda |
|
Designation : |
Executive Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1983 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AGKPD4240R |
|
DIN No.: |
01211502 |
|
|
|
|
Name : |
Mr. Pushpat Shival Shah |
|
Designation : |
Director |
|
Address : |
94 A, Kalpataru Habitat Dr. SS Rao Road, Parel, Mumbai – 400012,
Maharashtra, India |
|
Date of Birth/Age : |
27.09.1965 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
01687641 |
KEY EXECUTIVES
|
Name : |
Mr. Nitin |
|
Designation : |
Account Executive |
|
|
|
|
MANAGEMENT |
|
|
Name : |
Mr. Ashok Jain |
|
Designation : |
Director – Operations |
|
|
|
|
Name : |
Mr. Dinkar Raikar |
|
Designation : |
Group Editor |
|
|
|
|
Name : |
Mr. Omprakash Kela |
|
Designation : |
Senior Vice President |
|
|
|
|
Name : |
Mr. Mohan Joshi |
|
Designation : |
Finance Controller |
|
|
|
|
Name : |
Mr. Bijoy Sreedhar |
|
Designation : |
Vice President – Business Development |
|
|
|
|
Name : |
Ms. Mandir Tendolkar |
|
Designation : |
Vice President – Communication |
|
|
|
|
Name : |
Mr. Vasant Aware |
|
Designation : |
Assistant Vice President – Circulation |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 17.11.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vijay J. Darda |
|
10398996 |
|
Jyotsna V. Darda |
|
6204600 |
|
Devendra Darda |
|
4140000 |
|
Rajendra J. Darda |
|
12319596 |
|
Ashoodevi Darda |
|
2808000 |
|
Rishi Darda |
|
2808000 |
|
Karan Darda |
|
2808000 |
|
|
|
|
|
Total |
|
41487192 |
Equity Share Break up (Percentage of Total Equity)
As on: 17.11.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Printing and Publishing of Newspapers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Tel
No.: 91-712-2534860
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. M. Jain and Associates Chartered Accountants |
|
Address : |
AS/502, Ujwal
Flats, Rahate Colony, Wardha Road, Nagpur – 440022, Maharashtra, India |
|
PAN No.: |
AABFM6199F |
|
|
|
|
Joint Ventures : |
|
|
|
|
|
Subsidiaries: |
·
Asera Power Private Limited, India (CIN:
U40109MH2009PTC196213) ·
Lokmat Entertainment Private Limited, India (CIN: U92190MH2009PTC196077) |
|
|
|
|
Related Enterprises where significant influence exist: |
·
Darda Investment and Properties Private Limited ·
Media World Enterprises ·
Devendra Printers ·
Prithvi Vandan ·
Darda Printocrafts Private Limited. ·
Mogra Scangraph Private Limited. ·
Regal Publication Private Limited. ·
Airwave Entertainment Private Limited. ·
Prithvi Prakashan Private Limited. |
CAPITAL STRUCTURE
As on: 17.11.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs. 750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41487192 |
Equity Shares |
Rs.10/- each |
Rs. 414.871
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.05.2012 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
414.871 |
|
(b) Reserves & Surplus |
|
|
2638.552 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
3053.423 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
323.540 |
|
(b) Deferred tax liabilities (Net) |
|
|
103.985 |
|
(c) Other long term liabilities |
|
|
148.070 |
|
(d) long-term provisions |
|
|
59.703 |
|
Total Non-current
Liabilities (3) |
|
|
635.298 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
253.269 |
|
(b) Trade payables |
|
|
193.042 |
|
(c) Other current liabilities |
|
|
380.700 |
|
(d) Short-term provisions |
|
|
13.237 |
|
Total Current
Liabilities (4) |
|
|
840.248 |
|
|
|
|
|
|
TOTAL |
|
|
4528.969 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
1723.262 |
|
(ii) Intangible Assets |
|
|
1.076 |
|
(iii) Capital work-in-progress |
|
|
32.976 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
651.973 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
71.733 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
2481.020 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.687 |
|
(b) Inventories |
|
|
616.448 |
|
(c) Trade receivables |
|
|
852.095 |
|
(d) Cash and cash equivalents |
|
|
479.934 |
|
(e) Short-term loans and advances |
|
|
38.302 |
|
(f) Other current assets |
|
|
60.483 |
|
Total Current Assets |
|
|
2047.949 |
|
|
|
|
|
|
TOTAL |
|
|
4528.969 |
|
SOURCES OF FUNDS |
|
31.05.2011 |
31.05.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
414.872 |
11.524 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2153.056 |
2088.951 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2567.928 |
2100.475 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
742.642 |
308.091 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
742.642 |
308.091 |
|
|
DEFERRED TAX LIABILITIES |
|
85.879 |
72.029 |
|
|
|
|
|
|
|
|
TOTAL |
|
3396.449 |
2480.595 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1471.663 |
1087.680 |
|
|
Capital work-in-progress |
|
68.137 |
16.784 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
562.341 |
245.175 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
484.095
|
253.727
|
|
|
Sundry Debtors |
|
778.927
|
712.717
|
|
|
Cash & Bank Balances |
|
440.813
|
381.159
|
|
|
Other Current Assets |
|
5.599
|
10.685
|
|
|
Loans & Advances |
|
1009.744
|
1036.862
|
|
Total
Current Assets |
|
2719.178
|
2395.150 |
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
358.737
|
110.628
|
|
|
Other Current Liabilities |
|
179.304
|
306.921
|
|
|
Provisions |
|
886.829
|
846.645
|
|
Total
Current Liabilities |
|
1424.870
|
1264.194 |
|
|
Net Current Assets |
|
1294.308
|
1130.956
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3396.449 |
2480.595 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.05.2012 |
31.05.2011 |
31.05.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
4407.652 |
3809.610 |
|
|
|
Other Income |
|
42.989 |
50.960 |
|
|
|
TOTAL (A) |
4936.113 |
4450.641 |
3860.570 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
2075.859 |
1543.250 |
|
|
|
Manufacturing other operating expenses |
|
270.467 |
- |
|
|
|
Employee related expenses |
|
638.509 |
560.131 |
|
|
|
Administrative selling other expenses |
|
526.126 |
- |
|
|
|
Operating and Other Expenses |
|
- |
686.471 |
|
|
|
Prior Period Expenses |
|
- |
0.793 |
|
|
|
Exceptional Items |
|
- |
7.610 |
|
|
|
TOTAL (B) |
3912.920 |
3510.961 |
2798.255 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1023.193 |
939.680 |
1062.315 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
84.227 |
40.287 |
29.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
938.966 |
899.393 |
1032.826 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
242.364 |
185.341 |
159.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
696.602 |
714.052 |
873.227 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
210.106 |
222.048 |
112.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
486.496 |
492.004 |
588.947 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1032.103 |
589.094 |
350.735 |
|
|
|
|
|
|
|
|
|
Add |
Transfer
to Revaluation Reserve |
0.005 |
0.005 |
0.006 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
48.650 |
49.000 |
59.000 |
|
|
|
Dividend |
0.000 |
0.000 |
249.730 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
41.863 |
|
|
BALANCE CARRIED
TO THE B/S |
1469.954 |
1032.103 |
589.095 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
357.709 |
|
|
|
Components and Spare Parts |
NA |
NA |
0.000 |
|
|
|
Capital Goods |
NA |
NA |
6.331 |
|
|
TOTAL IMPORTS |
NA |
NA |
364.040 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.72 |
11.86 |
511.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.05.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total
Income |
(%) |
9.86 |
11.06 |
15.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00 |
16.20 |
15.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.12 |
17.03 |
25.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.28 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.19 |
0.28 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43 |
1.91 |
1.90 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PRESS RELEASE
LOKMAT MEDIA PLANS
IPO TO FUND EXPANSION
One of India's leading print media businesses Lokmat Media has proposed to tap the capital market for funding its expansion plan. It has filed draft red herring prospectus (DRHP) with the SEBI for public issue of 13,829,064 equity shares.
It publishes three newspapers: Lokmat in Marathi, Lokmat Samachar in Hindi and Lokmat Times in English which collectively have 17 editions and 58 sub-editions.
Lokmat Media's flagship newspaper Lokmat has been the leading Marathi newspaper in terms of average daily circulation and average daily readership in Maharashtra in 2008, 2009 and for the six month period ended June 30, 2010 (Source: ABC January-June and July-December, 2008 and 2009 and January-June, 2010 and IRS 2008 R2, IRS 2009 R2 and IRS 2010 Q3) and in terms of average daily circulation in Goa in 2009 and for the six month period ended June 30, 2010 (Source: ABC, July-December 2009 and January-June 2010).
It has also into broadcasting business, which is conducted through a 50-50 joint venture with ibn18 Broadcast Limited. The joint venture company, IBN-Lokmat News Private Limited (IBNL), operates IBN-Lokmat, a 24-hour Marathi news and current affairs television channel which went on air on April 6, 2008. It also recently entered the film production and distribution business and in August 2010, released debut film in Marathi, entitled Jetaa, in association with Ramesh Deo Production Private Limited.
Promoters Mr Vijay Darda and Mr Rajendra Darda hold 54.75% stake in company and other family members hold 45.25% stake, which will be reduced to 41.07% & 33.93% post issue.
Company intends to use net issue proceeds of Rs 3686.000 millions for upgrading existing printing facilities (Rs 150.36); building capability for expansion to new markets (Rs 900.000 millions); brand building, promotion and marketing (Rs 300.000 millions); pre-payment and repayment of loans (Rs 482.300 millions; acquiring and co-producing Indian films, including primarily Marathi language films as well as certain Hindi language films (Rs 250.000 millions); and investment in IBNL (Rs 250.000 millions).
For the year ended May 31, 2010, Lokmat Media reported a net profit of Rs 495.00 millions on total income of Rs 3912.100 millions. Book running leading managers to the issue are Kotak Mahindra Capital Company Limited and Enam Securities Private Limited.
FINANCIAL PERFORMANCE
The Company's total income for the year is higher than the previous year but Net profit is lower due to high interest rates, increased depreciation due to additional capex and tough market conditions. The Directors are optimistic about the enhancement of the capacity utilization resulting in an increase in the turnover as well as generating more profit from operations in the years ahead.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10247607 |
05/10/2010 |
490,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A97199855 |
|
2 |
10221777 |
14/10/2010 * |
334,800,000.00 |
BANK OF INDIA |
NAGPUR CORPORATE BANKING BRANCH, S V PATEL MARG, |
A97346407 |
|
3 |
80027456 |
17/10/1994 |
6,000,000.00 |
BANK OF INDIA |
SITABULDI BRANCH, NAGPUR, MAHARASHTRA - 440009, INDIA |
- |
|
4 |
80027457 |
28/03/2007 * |
40,000,000.00 |
BANK OF INDIA |
SITABULDI BRANCH, SITABULDI, NAGPUR, MAHARASHTRA - 440010, INDIA |
- |
|
5 |
80027455 |
28/03/2007 * |
140,000,000.00 |
BANK OF INIDA |
SITABUILDI BRANCH, SITABULDI, NAGPUR, MAHARASHTRA - 440010, INDIA |
A14684674 |
* Date of charge modification
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Data Processing Equipments
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. 62.73 |
|
|
1 |
Rs. 100.92 |
|
Euro |
1 |
Rs. 84.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.