MIRA INFORM REPORT
|
Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
STAR INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known As
: |
NEWS TELEVISION (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Star House, Off Dr. E Moses Road, Mahalaxmi, Mumbai-400011,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.02.1994 |
|
|
|
|
Com. Reg. No.: |
11-076485 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2195.010 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72300MH1994PTC076485 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
principally engaged in the business of television broadcasting. |
|
|
|
|
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 81860000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record.
Financially company seems to be strong liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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) |
|
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.
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
LOCATIONS
|
Registered Office : |
Star House, Off Dr. E Moses Road, Mahalaxmi, Mumbai-400011,
Maharashtra, India |
|
Tel. No.: |
91-22-61731111 |
|
Fax No.: |
91-22-61732999 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Rishi Kanwarjeet Gaind |
|
Designation : |
Director |
|
Address : |
31/802, Nri Complex, Seawoods Estate, Sector-54-56-58, Nerul, Navi
Mumbai-400706, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1975 |
|
Date of Appointment : |
04.11.2009 |
|
PAN No.: |
ABMPG9454H |
|
DIN No.: |
01874494 |
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 |
U92100MH2000PTC124779
|
BIGTREE
INTERACTIVE TICKETING PRIVATE LIMITED |
Director |
04/09/2008 |
06/11/2007 |
- |
Amalgamated |
NO |
|
2 |
U74899DL2000PLC103884
|
NETTO TRAVEL COM
LIMITED |
Director |
04/09/2008 |
06/11/2007 |
- |
Amalgamated |
NO |
|
3 |
U92100MH2000PTC128839
|
DIGIWAVE
INFRASTRUCTURE AND SERVICES PRIVATE LIMITED |
Director |
25/09/2008 |
05/03/2008 |
06/11/2009 |
Amalgamated |
NO |
|
4 |
U74210MH1959PTC011459
|
PRECISION
COMPONENTS PRIVATE LIMITED |
Director |
29/08/2008 |
05/03/2008 |
06/11/2009 |
Active |
NO |
|
5 |
U32304MH2006PTC162791
|
STAR PREMIUM
ENTERTAINMENT NETWORK PRIVATE LIMITED |
Director |
18/08/2008 |
05/03/2008 |
- |
Amalgamated |
NO |
|
6 |
U74300MH2005PTC157920
|
NEWS OUTDOOR
INDIA PRIVATE LIMITED |
Director |
30/09/2008 |
14/03/2008 |
30/12/2008 |
Active |
NO |
|
7 |
U64120MH2006PTC159808
|
ACTVE DIGITAL SERVICES
PRIVATE LIMITED |
Additional
director |
04/04/2008 |
04/04/2008 |
25/06/2008 |
Active |
NO |
|
8 |
U92110MH1995PTC092382
|
LIVE WIRE
PROGRAMME TRADING COMPANY PRIVATE LIMITED |
Director |
25/09/2008 |
04/04/2008 |
06/11/2009 |
Amalgamated |
NO |
|
9 |
U22222MH2007PTC192620
|
STAR DEN MEDIA
SERVICES PRIVATE LIMITED |
Director |
30/09/2008 |
27/06/2008 |
06/11/2009 |
Active |
NO |
|
10 |
U72300MH1994PTC076485
|
STAR INDIA
PRIVATE LIMITED |
Director |
30/09/2010 |
04/11/2009 |
- |
Active |
NO |
|
11 |
U64200MH2008PTC181610
|
ASIANET
INFRASTRUCTURE PRIVATE LIMITED |
Director |
28/09/2011 |
29/04/2011 |
- |
Active |
NO |
|
Name : |
Mr. Saurabh Yagnik |
|
Designation : |
Director |
|
Address : |
204, 2ND Floor, Sky Flama, A Wing, Dosti Flamingo, T J
Road, Sewree, Mumbai-400015, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1970 |
|
Date of Appointment : |
04.11.2009 |
|
|
09.11.2012 |
|
DIN No.: |
02647658 |
|
|
|
|
Name : |
Ms. Amita Maheshwari |
|
Designation : |
Director |
|
Address : |
208, 2nd Floor, Sea Flama, B-Block, Dosti Flamingo, Sewri,
Mumbai-400015, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1968 |
|
Date of Appointment : |
26.04.2012 |
|
DIN No.: |
02891889 |
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 |
U72300MH1994PTC076485
|
STAR INDIA
PRIVATE LIMITED |
Director |
28/09/2012 |
26/04/2012 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Ujwala Padmakar Wakhle |
|
Designation : |
Secretary |
|
Address : |
Flat No.504, Dosti Tulip, Dosti Acres, S M Road, Wadala (East),
Mumbai-400037, Maharashtra, India |
|
Date of Birth/Age : |
12.05.1971 |
|
Date of Appointment : |
01.11.2001 |
|
PAN No.: |
AAHPW4240R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Buzzer Investments Limited, Mauritius |
113576231 |
|
Quasar Investments (Mauritius) Limited, Mauritius |
80322 |
|
Star Entertainment Holdings Limited (Formerly known as Xing Kong Chuan
Mei Group Company Limited), Island |
87708600 |
|
Startv.Com Holding Limited, Bermuda |
14810550 |
|
Star Television Technical Services Limited, Island |
6324800 |
|
TOTAL
|
222500503 |
AS ON 28.09.2012
|
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 |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
principally engaged in the business of television broadcasting. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountant |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai-400028, Maharashtra, India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding Company : |
|
|
|
|
|
Intermediate Holding Company : |
|
|
|
|
|
Joint Venture : |
STAR DEN Media Services Private Limited |
|
|
|
|
Fellow Subsidiaries : |
Asianet
Communications Limited CIN No.:- U90001MH1991PLC178157 Dow Jones Consulting
India Private Limited CIN No.:- U74140MH2004PTC146563 Fox Channels
(India) Private Limited CIN No.:- U92490MH2006PTC164697 Fox Television
Studios India Private Limited CIN No.:- U92120MH2006PTC166015 Fox Star Studios
India Private Limited CIN No.:- U92490MH2006PTC165060 NGC Network
(India) Private Limited CIN No.:- U74300MH2000PTC127390 Star
Entertainment Media Private Limited CIN No.:- U92490MH2006PTC159789 |
|
|
|
|
Subsidiaries |
Digiwave
Infrastructure And Services Private Limited CIN No.:- U92100MH2000PTC128839 Indya
Interactive Services Private Limited CIN No.:- U64202KA2000PTC026495 Livewire
Programme Trading Company Private Limited CIN No.:- U92110MH1995PTC092382 Media Pro
Enterprise India Private Limited CIN No.:- U92412MH2006PTC164446 PPV Movies And
Content Private Limited CIN No.:- U92120MH2006PTC160245 Precision
Components Private Limited CIN No.:- U74210MH1959PTC011459
|
CAPITAL STRUCTURE
AFTER 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
331090503 |
Equity Shares |
Rs.10/- each |
Rs. 3310.905 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
222500503 |
Equity Shares |
Rs.10/- each |
Rs. 2225.005
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
321091000 |
Equity Shares |
Rs.10/- each |
Rs. 3210.910 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
219501000 |
Equity Shares |
Rs.10/- each |
Rs. 2195.010
Millions |
|
|
|
|
|
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
331090503 |
Equity Shares |
Rs.10/- each |
Rs. 3310.905 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs. 2372.705 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2195.010 |
2195.010 |
|
(b) Reserves & Surplus |
|
18271.820 |
14371.230 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
20466.830 |
16566.240 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
314.920 |
828.130 |
|
(d) long-term
provisions |
|
49.630 |
44.250 |
|
Total Non-current
Liabilities (3) |
|
364.550 |
872.380 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
7968.510 |
7538.910 |
|
(c) Other
current liabilities |
|
1406.550 |
1891.230 |
|
(d) Short-term
provisions |
|
129.980 |
100.550 |
|
Total Current
Liabilities (4) |
|
9505.040 |
9530.690 |
|
|
|
|
|
|
TOTAL |
|
30336.420 |
26969.310 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
258.170 |
227.960 |
|
(ii)
Intangible Assets |
|
1790.960 |
1732.140 |
|
(iii)
Capital work-in-progress |
|
80.640 |
31.220 |
|
(b) Non-current Investments |
|
672.620 |
780.650 |
|
(c) Deferred tax assets (net) |
|
73.590 |
256.160 |
|
(d) Long-term Loan and Advances |
|
5140.410 |
5163.010 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
8016.390 |
8191.140 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
8451.330 |
6248.690 |
|
(c) Trade
receivables |
|
7676.340 |
7485.720 |
|
(d) Cash
and cash equivalents |
|
3476.910 |
2016.190 |
|
(e)
Short-term loans and advances |
|
2359.250 |
2984.210 |
|
(f) Other
current assets |
|
356.200 |
43.360 |
|
Total
Current Assets |
|
22320.030 |
18778.170 |
|
|
|
|
|
|
TOTAL |
|
30336.420 |
26969.310 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1121.240 |
|
|
2] Share Application Money |
|
|
9273.020 |
|
|
3] Reserves & Surplus |
|
|
5628.170 |
|
|
4] (Accumulated Losses) |
|
|
(2346.090) |
|
|
NETWORTH |
|
|
13676.340 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
73.770 |
|
|
TOTAL BORROWING |
|
|
73.770 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13750.110 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
236.640 |
|
|
Capital work-in-progress |
|
|
14.030 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
666.960 |
|
|
DEFERREX TAX ASSETS |
|
|
247.590 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
4690.760 |
|
|
Sundry Debtors |
|
|
6184.080 |
|
|
Cash & Bank Balances |
|
|
720.960 |
|
|
Other Current Assets |
|
|
0.040 |
|
|
Loans & Advances |
|
|
9338.310 |
|
Total
Current Assets |
|
|
20934.150 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5511.680 |
|
|
Other Current Liabilities |
|
|
2742.120 |
|
|
Provisions |
|
|
95.460 |
|
Total
Current Liabilities |
|
|
8349.260 |
|
|
Net Current Assets |
|
|
12584.890 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13750.110 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
27041.740 |
23453.040 |
18889.240 |
|
|
|
Other Income |
973.320 |
779.060 |
1011.260 |
|
|
|
TOTAL |
28015.060 |
24232.100 |
19900.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
21937.610 |
19919.790 |
18121.210 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
6077.450 |
4312.310 |
1779.290 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2092.570 |
1422.420 |
797.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
3984.880 |
2889.890 |
982.190 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.15 |
13.17 |
4.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
14.22
|
11.93 |
4.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.47
|
18.39 |
9.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.59
|
16.65 |
8.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.26 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35
|
1.97 |
2.51 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
Profile
|
Client Industry |
Media |
|
Client's
discipline |
-- |
General
|
The growth of
the client's industry is best described as: |
Growing |
|
Brief
description of the services and/or goods the client provides to the
marketplace: |
Television
broadcasting |
|
What is the
legal structure of the client? |
Subsidiary of a
parent co/Joint Venture |
|
What type of
company is the client? |
Private |
Credit Rating
|
Client's debt
tracked by a credit rating agency? |
N0 |
|
Name of credit rating
agency: |
-- |
|
Credit rating
class provided by credit rating agency: |
-- |
|
Client credit
rating: |
-- |
|
Report on credit
worthiness of client purchased from: |
Not obtained |
Client Financials
|
Does the client
have a credit facility? |
No |
|
Do you have
financial information on this client? |
Yes |
|
Credit facility
type: |
Unknown |
|
Amount of credit
facility: |
-- |
|
Currency of
financial statements/data: |
INR Millions |
|
Annualized
revenues: |
Rs. 27041.740
Millions |
|
Annualized COGS: |
-- |
|
Annualized
EBITDA: |
-- |
|
Annualized net
income: |
Rs. 3984.880
Millions |
|
Cash balance: |
Rs. 1628.210
Millions |
|
Marketable
Securities balance: |
------------ |
|
Accounts
Receivable balance: |
Rs. 7676.340
Millions |
|
Current Assets
balance: |
Rs. 22320.030
Millions |
|
Total assets
balance: |
Rs. 30336.420
Millions |
|
Current
Liabilities balance: |
Rs. 9505.040
Millions |
|
Long-Term Debt
balance: |
Rs. 0.000
Millions |
|
Equity balance: |
Rs. 20466.830
Millions |
|
Net cash
provided by operating activities: |
Rs. 1440.070
Millions |
|
Date of client's
financial data populated: |
31.03.2012 |
|
Financial
information provided above audited? |
Yes |
CORPORATE INFORMATION
Subject was incorporated
in India on February 8, 1994. The Company is principally engaged in the
business of television broadcasting.
BUSINESS OPERATIONS
During the year,
the Company rebranded its youth focused Hindi general entertainment channel Star
One to Life OK and launched two new channels viz.
a)
Movies OK a Hindi movie channel ; and
b)
Fox Action Movies an English movie channel
During the year
ended 31st March 2012, the Company has acquired 100% equity shares in Touch
Tele Content (India) Private Limited, Group Company, thus making it wholly
owned subsidiary of the Company. Subsequently, Touch Tele Content (India)
Private Limited was merged into the Company pursuant to the Scheme as approved
by Honble Bombay High Court on 29th June 2012.
COMPOSITE SCHEME OF ARRANGEMENT AND AMALGAMATION OF
SUBSIDIARIES COMPANIES INTO THE COMPANY
During the year, five subsidiaries of the Company viz
a)
PPV Movies and Content Private Limited;
b)
Digiwave Infrastructure and Services Private
Limited
c)
Touch Tele Content (India) Private Limited
d)
Live Wire Programme Trading Company Private
Limited; and
e)
Star Premium Entertainment Network Private Limited
(collectively known as Amalgamating Companies) were merged / amalgamated with
the Company pursuant to the Composite Scheme of Arrangement and Amalgamation
(Scheme) as approved by Honble Bombay High Court vide its Order dated 29th June
2012.
As per the Scheme,
with effect from the Appointed Date i.e. 1st April 2011, the Amalgamating Companies
stand amalgamated with the Company. The Scheme came into effect on 1st August
2012.
In view of the
above, the financial accounts of the Company for the year ended 31st March 2012
have been consolidated financial accounts along with the Amalgamating Companies
from the Appointed Date i.e. 1st April 2011.
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixtures
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. 66.88 |
|
|
1 |
Rs. 103.94 |
|
Euro |
1 |
Rs. 88.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
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.