MIRA INFORM REPORT

Report Date :

19.10.2013

IDENTIFICATION DETAILS

Name :	THE MALAYALA MANORAMA COMPANY LIMITED
Registered Office :	Manorama Building, K. K. Road, P. B. No. 26, Kottayam - 686001, Kerala
Country :	India
Financials (as on) :	31.03.2012 [Profit and Loss Account]
Date of Incorporation :	04.03.1889
Com. Reg. No.:	09-000647
Capital Investment / Paid-up Capital :	Rs. 7.200 Millions
CIN No.: [Company Identification No.]	U22121KL1889PLC000647
PAN No.: [Permanent Account No.]	AAACT7597G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Printing and Publishing of Magazines and Newspapers in Malayalam.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Aa (72)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 13200000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well established and reputed Publisher of Newspaper, Magazines etc. It is an old company. It’s fundamentals are very strong. It has excellent track. Financial position is good. The company is doing well. Its payments are always 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 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank facilities : AA
Rating Explanation	High degree of safety and very low credit risk.
Date	November 2012

Rating Agency Name	CARE
Rating	Short term Bank facilities : A1+
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	November 2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DECLINED BY

Management non co-operative

Tel. No.: 91-481-2563464

LOCATIONS

Registered Office :	Manorama Building, K. K. Road, P. B. No. 26, Kottayam - 686001, Kerala, India
Tel. No.:	91-481-2563646
Fax No.:	91-481-2562479/ 2565399
E-Mail :	editor@mm.co.in sijijoseph@mm.co.in manoramaclassifieds@mm.co.in subscription@mm.co.in marketing@mm.co.in manoramabooks@mm.co.in sampadyam@mm.co.in fasttrack@mm.co.in bhashaposhini@mm.co.in karsha@mm.co.in
Website :	www.malayalamanorama.com
Unit Offices :	Located at: · Kottayam Trivandrum Kollam Pathanamthitta Kochi Trichur Palakkad Kozhikode Kannur Malappuram Outside Kerala Offices · Delhi Mumbai Chennai Bangalore Hyderabad Kolkata Coimbatore Dubai Ahmedabad Jaipur

DIRECTORS

AS ON 29.09.2012

Name :

Mammen Mathew

Designation :

Managing director

Address :

Manorma Mandiram, Manganam, Kottayam - 686018, Kerala, India

Date of Birth/Age :

20.09.1944

Qualification :

MA

Date of Appointment :

01.09.2008

PAN No.:

ADOPM4967H

DIN No.:

00071606

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	L01132KA1936PLC002642	DEVON PLANTATIONS AND INDUSTRIES LIMITED	Director	18/01/1973	18/01/1973	-	Active	NO
2	U51900MH1940PLC003067	INDIA COFFEE AND TEA DISTRIBUTING COMPANY LIMITED	Director	23/09/1983	23/09/1983	25/06/2012	Active	NO
3	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY	Director	21/09/1984	21/09/1984	22/09/2008	Active	NO
4	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Managing director	01/09/2008	15/03/2001	-	Active	NO
5	U92132KL2004PLC017566	MM TV LIMITED	Director	29/10/2004	29/10/2004	-	Active	NO

Name :

Jacob Mammen

Designation :

Director

Address :

12, Walton Road, Bangalore – 560001, Karnataka, India

Date of Birth/Age :

15.11.1962

Qualification :

BA

Date of Appointment :

04.04.1986

DIN No.:

00078010

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	U67120KA1983PLC005177	STABLE INVESTMENTS AND FINANCE COMPANY LIMITED	Director	23/02/1983	23/02/1983	-	Active	NO
2	L01132KA1936PLC002642	DEVON PLANTATIONS AND INDUSTRIES LIMITED	Director	21/01/1985	21/01/1985	-	Active	NO
3	U29222KA1972PTC002201	DEVON MACHINES PRIVATE LIMITED	Director	11/02/1986	11/02/1986	-	Active	NO
4	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Director	04/04/1986	04/04/1986	-	Active	NO
5	U85110KA1983PLC005134	DEVON FINANCIAL SERVICES LIMITED	Director	29/04/1986	29/04/1986	-	Active	NO
6	U51900MH1940PLC003067	INDIA COFFEE AND TEA DISTRIBUTING COMPANY LIMITED	Director	09/02/1989	09/02/1989	-	Active	NO
7	U01122KA1989PLC010064	INDO ROSES AND FLORICULTURE LIMITED	Director	18/09/1989	18/09/1989	-	Active	NO
8	U06599KA1987PTC008774	MAMMEN MAPPILLAI AND INVESTMENTS PRIVATE LIMITED	Director	20/08/1993	20/08/1993	-	Active	NO
9	L85110KA1943PLC000314	BADRA ESTATES AND INDUSTRIES LIMITED	Managing director	01/03/2012	01/03/1994	-	Active	NO
10	U70102KA1991PTC011987	M.M. HOUSING PRIVATE LIMITED	Director	24/02/1995	24/02/1995	-	Active	NO
11	U74140KA1998PTC023976	TEXTILE SOURCING AND SERVICES PRIVATE LIMITED	Director	21/07/1998	21/07/1998	16/04/2007	Active	NO
12	L25190KA1964PLC052092	M M RUBBER COMPANY LIMITED	Director	28/09/2006	28/09/2006	-	Active	NO

Name :

Zachariah Kuriyan

Designation :

Director

Address :

Thayyil, Kandathil, Erayilkadavu, Kottayam - 686001, Kerala, India

Date of Birth/Age :

21.07.1956

Qualification :

BA

Date of Appointment :

24.04.1990

DIN No.:

00078109

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	Company/ LLP Status	Defaulting status
1	L85110KA1943PLC000314	BADRA ESTATES AND INDUSTRIES LIMITED	Director	27/06/1984	27/06/1984	Active	NO
2	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Director	24/04/1990	24/04/1990	Active	NO
3	U01131KA1967PTC001701	PANDALUR PLANTATIONS PRIVATE LIMITED	Director	10/10/1993	10/10/1993	Active	NO
4	U24129KL1955PTC001136	SICAF PRIVATE LIMITED	Director	30/03/1995	30/03/1995	Active	NO
5	U51909KL1996PLC009894	G MART LIMITED	Director	04/08/1996	04/08/1996	Active	NO
6	U91200KL1939NPL000037	THE ASSOCIATION OF PLANTERS OF KERALA	Director	01/10/2004	01/10/2004	Active	NO
7	L01116KL1943PLC000389	THE GOKUL RUBBER AND TEA PLANTATIONS LIMITED	Managing director	01/11/2012	31/10/2005	Active	NO

Name :

Mammen Eapen

Designation :

Director

Address :

Old #15, New # 10, Wallace Garden, 1^st Street, Chennai - 600006, Tamilnadu, India

Date of Birth/Age :

29.03.1935

Qualification :

BA

Date of Appointment :

11.11.1970

DIN No.:

00081267

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	Company/ LLP Status	Defaulting status
1	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Director	11/11/1970	11/11/1970	Active	NO
2	L70102KA1974PLC002641	BALANOOR PLANTATIONS AND INDUSTRIES LIMITED	Director	20/01/1975	20/01/1975	Active	NO
3	U06599KA1987PTC008774	MAMMEN MAPPILLAI AND INVESTMENTS PRIVATE LIMITED	Director	13/09/1991	13/09/1991	Active	NO
4	U70102KA1991PTC011987	M.M. HOUSING PRIVATE LIMITED	Director	24/02/1995	24/02/1995	Active	NO

Name :

Palampadam Thomas

Designation :

Director appointed in casual vacancy

Address :

42/866, Shangrila, Power House Road, Cochin - 682018, Kerala, India

Date of Birth/Age :

29.12.1953

Qualification :

MA

Date of Appointment :

08.10.2007

DIN No.:

00239669

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	Company/ LLP Status	Defaulting status
1	U63040KL1989PTC005418	SUNDALE VACATIONS PRIVATE LIMITED	Director	02/03/1995	02/03/1995	Active	NO
2	U01119KL1919PLC001148	THE TROPICAL PLANTATIONS LIMITED	Whole-time director	01/09/2012	01/09/2002	Active	NO
3	U01119KL1920PLC000847	PALAMPADAM PLANTATIONS LIMITED	Director	28/09/2006	28/09/2006	Active	NO
4	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Director appointed in casual vacancy	08/10/2007	08/10/2007	Active	NO
5	U91110KL1992NPL006873	TEA TRADE ASSOCIATION OF COCHIN	Director	23/09/2008	23/09/2008	Active	NO

Name :

Mr. Suresh Mehra

Designation :

Director

Address :

404, Sarita Apartment, Road No. 4, Banjara Hills, Hyderabad - 500034, Andhra Pradesh, India

Date of Birth/Age :

24.10.1944

Qualification :

ACA

Date of Appointment :

14.08.1985

DIN No.:

00471172

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	Company/ LLP Status	Defaulting status
1	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Director	14/08/1985	14/08/1985	Active	NO
2	U18100AP1993PTC015342	ENCORE FABRICS PRIVATE LIMITED	Director	08/02/1993	08/02/1993	Active	YES

Name :

Adangapuram Kurian Abraham

Designation :

Director

Address :

Adangapuram XL/241, Layam Road, Ernakulum - 682011, Kerala, India

Date of Birth/Age :

23.08.1938

Qualification :

MD

Date of Appointment :

24.04.1990

DIN No.:

00471221

Name :

Prof Koshy Abraham

Designation :

Director

Address :

House No. 409, IIM Vastrapur– 380015, Gujarat, India

Date of Birth/Age :

18.01.1953

Qualification :

MA

Date of Appointment :

03.03.1999

DIN No.:

00471385

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	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Director	03/03/1999	03/03/1999	-	Active	NO
2	U26950GJ1981PLC047664	SPARTA CEMENTS AND INFRA LIMITED	Director	12/11/2005	12/11/2005	31/03/2010	Active	YES
3	L34300PN1996PLC104510	AUTOLINE INDUSTRIES LIMITED	Director	27/09/2006	01/07/2006	18/05/2013	Active	NO
4	L65191KL1931PLC000368	THE FEDERAL BANK LIMITED	Director	24/09/2007	24/09/2007	-	Active	NO
5	L26910GJ1998PLC034400	CERA SANITARYWARE LIMITED	Director	12/09/2008	31/10/2007	19/04/2010	Active	NO
6	U65910KL1995PLC008910	FEDBANK FINANCIAL SERVICES LIMITED	Director	04/06/2013	04/06/2013	-	Active	NO

Name :

Mr. Ashok Peter Jacob

Designation :

Director

Address :

55, Victoria Road, Bellevue Hill, NSW 2023, Australia

Date of Birth/Age :

14.10.1960

Qualification :

MBA

Date of Appointment :

03.03.1999

DIN No.:

00471772

Name :

Dr. Peter Philip

Designation :

Director

Address :

11 – A, Cuffe Parade, Ground Floor, Colaba, Mumbai - 400005, Maharashtra, India

Date of Birth/Age :

16.06.1943

Qualification :

PHD

Date of Appointment :

02.10.1971

DIN No.:

00820202

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	Company/ LLP Status	Defaulting status
1	U74999MH1943PLC004023	COMMERCIAL BROADCASTS LIMITED	Director	02/10/1971	02/10/1971	Active	NO
2	U22121KL1889PLC000647	THE MALAYALA MANORAMA COMPANY LIMITED	Director	02/10/1971	02/10/1971	Active	NO
3	L01132KA1936PLC002642	DEVON PLANTATIONS AND INDUSTRIES LIMITED	Director	20/01/1975	20/01/1975	Active	NO
4	U99999MH1980PLC023038	PHILIPS COFFEE AND TEA LIMITED	Director	29/08/1980	29/08/1980	Strike off	NO
5	L25191GJ1974PLC002555	GRP LIMITED	Director	01/04/1981	01/04/1981	Active	NO
6	U67120MH1981PTC025333	PHILIPS INVESTMENTS PRIVATE LIMITED	Director	01/10/1983	01/10/1983	Active	NO
7	U51900MH1940PLC003067	INDIA COFFEE AND TEA DISTRIBUTING COMPANY LIMITED	Managing director	01/06/2009	01/06/1984	Active	NO
8	U92100MH1944PTC004234	REMBRANDT AND VANDYKES PRIVATE LIMITED	Director	07/10/1991	07/10/1991	Active	NO
9	U25199TN1989PTC017023	M.M. RESEARCH COMPANY PRIVATE LIMITED	Director	16/01/1997	16/01/1997	Active	NO
10	U85110KA1993PLC014267	INDO BLOOMS LIMITED	Director	24/01/2007	24/01/2007	Active	NO

KEY EXECUTIVES

Name :	George Verghese
Designation :	Secretary
Address :	Kandathil, K. M. Varghese Road, Kottayam - 686001, Kerala, India
Date of Birth/Age :	11.03.1941
Date of Appointment :	22.05.1980
PAN No.:	ABHPV7692P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	33.00
Other top fifty shareholders	66.00
Others	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Printing and Publishing of Magazines and Newspapers in Malayalam.

Products/ Services :

ITC Code No.	Product Descriptions
49021010	Newspaper

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of Travancore, Main Branch, Thirunakkara, Kottayam - 686001, Kerala, India

Syndicate Bank, Sastri Road, Kottayam - 686001, Kerala, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loan bank secured	281.564	418.767
Working Capital Loans secured	0.000	42.360
Total	281.564	461.127
Footnotes (A) 1.Term Loans are secured in favour of State Bank of Travancore and Syndicate Bank by hypothecation of printing machinery and equipments both present and future and by a pari passu charge in favour of the said banks by way of equitable mortgage of title deeds of the immovable properties of the company at Kottayam, Kochi, Thiruvananthapuram, Kollam, Palakkad, Thrissur, Malappuram, Pathanamthitta and Mumbai. 2.Working Capital Loans are secured in favour of State Bank of Travancore and Syndicate Bank by a floating charge on Book Debts, Stock of stores, Newsprint, Work in Progress excluding Teak plantations and Finished Goods and a charge on the fixed and movable assets of the company not otherwise specifically charged, Fixed Deposit and further by an equitable mortgage by deposit of title deeds of the immovable properties of the company at Kottayam, Kochi, Thiruvananthapuram, Kollam, Palakkad, Thrissur, Malappuram, Pathanamthitta and Mumbai

Banking Relations :	--
Auditors :
Name :	Cheriyan and Cheriyan Chartered Accountants
Address :	Kalarickal Buildings, Miss East Road, Post Box No. 43, Kottayam - 686001, Kerala, India
Income-tax PAN of auditor or auditor's firm :	AABFC7312C
Subsidiaries :	· Commercial Broadcasts Limited [U74999MH1943PLC004023] Aero Estates and Leasing Company Limited [U65910KL1994PLC007878] Young India Agencies Private Limited [U65910KA1974PTC002640] MM TV Limited [U92132KL2004PLC017566] Malayala Manorama FZ LLC
Enterprise over which key management personnel and his relatives have significant control and influence :	· MM Containers Private Limited Packard Industries Safepac Industries

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
950,000	Equity Shares	Rs. 10/- each	Rs. 9.500 Millions
5,000	Preference Shares	Rs. 100/- each	Rs. 0.500 Million
	Total		Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
720,000	Equity Shares	Rs. 10/- each	Rs. 7.200 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		7.200	7.200
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		3304.904	2370.535
4] (Accumulated Losses)		0.000	0.000
NETWORTH		3312.104	2377.735
LOAN FUNDS
1] Secured Loans		281.564	461.127
2] Unsecured Loans		692.182	659.293
TOTAL BORROWING		973.746	1120.420
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4285.850	3498.155
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1918.517	1929.352
Capital work-in-progress		93.076	12.681
INVESTMENT		509.976	379.407
DEFERREX TAX ASSETS		38.359	18.918
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	837.592	429.728
	Sundry Debtors	704.024	611.392
	Cash & Bank Balances	662.110	594.902
	Other Current Assets	0.000	0.000
	Loans & Advances	1335.824	828.946
Total Current Assets		3539.550	2464.968
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	840.122	420.716
	Other Current Liabilities	49.515	42.334
	Provisions	923.991	844.121
Total Current Liabilities		1813.628	1307.171
Net Current Assets		1725.922	1157.797
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		4285.850	3498.155

Note: Balance Sheet Statement for the year 2012 is not available only Profit and Loss Account is available.

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	8042.834	7269.506	6085.105
		Other Income	104.447	189.480	142.487
		TOTAL (A)	8147.281	7458.986	6227.592
Less	EXPENSES
		Raw materials consumed	2861.856	2675.861	2209.833
		Manufacturing service costs	--	438.603	399.584
		Employee related expenses	1193.641	982.289	904.824
		Administrative selling other expenses	2262.729	1339.894	1125.164
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(11.756)	--	--
		TOTAL (B)	6306.470	5436.647	4639.405
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1840.811	2022.339	1588.187
Less	FINANCIAL EXPENSES (D)		79.243	68.340	115.384
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1761.568	1953.999	1472.803
Less/ Add	DEPRECIATION/ AMORTISATION (F)		301.303	352.521	276.016
	PROFIT BEFORE TAX (E-F) (G)		1460.265	1601.478	1196.787
Less	TAX (H)		471.841	541.589	442.518
	PROFIT AFTER TAX (G-H) (I)		988.424	1059.889	754.269
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	168.931	147.412	148.768
	IMPORTS
		Raw Materials	2554.401	1785.528
		Stores & Spares	53.716	22.243
		Capital Goods	333.618	47.961
	TOTAL IMPORTS		2941.735	1855.732	1261.850
	Earnings Per Share (Rs.)		1373.00	1472.00	1048.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	12.13	14.21	12.11
Net Profit Margin (PBT/Sales)	(%)	18.16	22.03	19.67
Return on Total Assets (PBT/Total Assets}	(%)	NA	29.34	27.23
Return on Investment (ROI) (PBT/Networth)		NA	0.48	0.50
Debt Equity Ratio (Total Debt/Networth)		NA	0.29	0.47
Current Ratio (Current Asset/Current Liability)		NA	1.95	1.89

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	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
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

LITIGATION DETAILS:

KERALA HIGH COURT

CASE STATUS INFORMATION SYSTEM

Case Status         :  PENDING

Status of SALES TAX REVISION   31        of    2011

STATE OF KERALA                 Vs.                  THE MALAYALA MANORAMA COMPANY LIMITED

Pet's Adv.            :   GOVERNMENT PLEADER

Res's Adv.           :   SRI. E.K.NANDAKUMAR

Last Listed On :     Thursday, September 01, 2011

Category             :   Tax Revision Cases/Sales Tax Revision

CONNECTED APPLICATION (S) No Connected Application

CONNECTED MATTER (S) No Connected Matter

Case Updated on:   Thursday, September 01, 2011

UNSECURED LOANS

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Public Deposits	28.394	31.218
Other Loans and Advances	663.788	628.075
Total	692.182	659.293
Footnotes (A) Agent's Deposits (Current Year Rs.4495.43Lacs Previous Year Rs.411.083 Millions) have been classified as Quasi Capital as per legal opinion.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10439426	10/07/2013	1,000,000,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, THIRUNAKKARA, KOTTAYAM - 686001, KERALA, INDIA	B80580905
2	10418588	26/03/2013	300,000,000.00	SYNDICATE BANK	SASTRI ROAD, KOTTAYAM, KOTTAYAM - 686001, KERALA, INDIA	B72848476
3	10344648	10/03/2012	450,000,000.00	SYNDICATE BANK	SASTRI ROAD, KOTTAYAM, KOTTAYAM - 686001, KERALA, INDIA	B35917186
4	10338520	02/02/2012	750,000,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, THIRUNAKKARA, KOTTAYAM, KOTTAYAM - 686001, KERALA, INDIA	B33412552
5	10097037	30/12/2011 *	230,000,000.00	SYNDICATE BANK	KOTTAYAM BRANCH, KOTTAYAM - 686001, KERALA, INDIA	B30324883
6	90021673	12/01/2009 *	1,645,000,000.00	STATE BANK OF TRAVANCORE	KOTTAYAM MAIN BRANCH, THIRUNAKKARA, KOTTAYAM - 686001, KERALA, INDIA	A56402613
7	90021245	21/04/1955	250,000.00	THE INDIAN BANK LIMITED	KOTTAYAM BRANCH, KOTTAYAM, KERALA, INDIA	-

* Date of charge modification

NEWSPRINT:

During the year, newsprint prices almost stayed steady. The average newsprint cost worked out to U.S. $ 627 per ton equivalent to 0 29,248 per ton. The supply position continues to be comfortable. The price in 2011-12, is expected to go up.

Newsprint demand has slackened in North America and to a lesser extent in Western Europe. The demand is high in Asia, Eastern European and Latin American countries. Newsprint mills resort to shifting production from newsprint to packing paper or even shutting down the units to balance demand and supply and to sustain profitability levels.

As reported in their previous reports, their newsprint wastage is the lowest in the country, which is a testimonial to the efficiency of their Works and Materials Divisions.

ADVERTISEMENTS:

They had a highly successful year with sales revenue of Rs.4770.000 Millions an all time record with the daily display advertisements contributing 77.5 per cent of the total revenue and classified and personal advertisements contributing 14 per cent of the total revenue.

In the advertisement market, Cochin remains the most vibrant, accounting for about 21.5 per cent of the total revenue and Mumbai and Delhi accounting for 10 per cent each.

Malayala Manorama Daily continues to maintain its market leadership in Kerala.

The high inflation will adversely affect the country's economic progress as it affects growth, entailing a mark down of GDP.

Besides, the World Cup cricket and Indian Premier League would impact adversely on the ad-spend of big advertisers.

CIRCULATION:

The circulation of the Malayala Manorama newspaper has crossed 20 lakh copies. The present print order is 2057500 copies per day. As per the certificate of the Audit Bureau of Circulations, the circulation for July-December, 2010 was 1903331 copies. During the last one year, the circulation of newspaper had an increase of 143164 copies - the highest circulation in the history of Malayala Manorama.

All other publications are also doing well with Manorama Weekly posting Audit Bureau of Circulations certified sale of 5,82,180 copies and The Week 2,04,429 copies during July-December 2010.

It is a matter of satisfaction that The Malayala Manorama Company Limited, is the largest publishing house in the country in terms of number of publications. They have 43 titles. Their publications continue to enjoy tremendous goodwill and support from the readers and advertisers.

Malayala Manorama calendar goes to 2546000 households in Kerala.

Malayala Manorama Daily, Weekly, Bhashaposhini, Karshakasree and the Year Books are brand leaders.

Their corporate theme is Excellence. The focussed circulation strategy coupled with the excellent editorial quality, contributes to their corporate objectives.

MANORAMA ONLINE:

It was yet another good year for Manorama Online reflecting a steady increase in traffic and addition of new verticals. The site registered an all time high traffic of more than a billion page views during the Kerala election results and the monthly figures have averaged over 700 million page views.

The reach of the site has enlarged to 7 million users. They maintained their position as Number One destination on the Web for Malayalees, in this world.

Manorama Online serves its users with minimum downtime enabled by the State-of-The-Art technology.

Local pages Ente Naadu provides local news on what is happening in and around the immediate vicinity which enables them to get involved in community happenings a true test of citizen journalism.

Gulf Manorama is becoming a way of life for the Kerala diaspora.

Encouraged by the performance of e-Weekly, e-Vanitha was also launched.

Along with i-pad and i-phone, we have applications for the popular 'Android Tablet', as well.

M4Marry, Hello Address, which is a Real Estate Portal, Manorama Horizon, Education Portal, are some of the other Online verticals.

Yellow pages is a Project, which will soon go on stream.

MM TV LIMITED:

Manorama News - the news channel of MM TV Limited, the wholly-owned subsidiary of the Company - continues its dominance among news channels in Kerala. Manorama News has 47 per cent market share in Advertisement among Malayalam news channels. This premier position is sustained by the quality of the programmes and their novel presentation style, capable of retaining viewer eyeballs.

The Financial results have been better than expected. It is indeed gratifying that the Company could break even and make profits earlier than what was projected, before start-up.

As reported last year, the Company is fully engaged in setting up a General Entertainment Channel which will be on air in late 2011.

FM RADIO:

As per the latest Indian Readership Survey figures -IRS 2011 Quarter 1 - Radio Mango has retained the Number One position with an Average Daily Listenership of 20.27 lakhs taking into consideration its four Radio Stations at Cochin, Trichur, Calicut and Kannur. This resulted in an impressive growth of 47.3 per cent in Average Daily Listenership during the year. This growth in listenership has been the highest among all Radio Stations in Kerala. Radio Mango is also ranked as the 12th largest in the country in terms of Average Daily Listenership. In South India, Radio Mango, at 7.1 per cent stands second in terms of reach for an FM Radio Station in a State.

As per a latest study done by Indian Market Research Bureau International, Radio Mango stands out as the Number One FM Radio operation within the territory of each of the four stations it operates.

Radio Mango has recorded net profits on their operations which has been a noteworthy achievement. Supporting this achievement has been a healthy 31 per cent increase in revenue as compared to the previous year. Operations have registered continuous improvements which have resulted in improved productivity while maintaining the market leadership position. They are confident that the growth trend will be maintained with superior programming and content.

FIXED ASSETS:

· Land and development

Buildings

Plant and Machinery

Photo Studio Equipment

Vehicles

Intangible asset

Machinery under erection

Building under construction

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 transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 61.28
UK Pound	1	Rs. 99.02
Euro	1	Rs. 83.80

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		72

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.