MIRA
INFORM REPORT
|
Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
USHODAYA ENTERPRISES PRIVATE LIMITED [w.e.f. 28.03.2007] |
|
|
|
|
Formerly Known As
: |
USHODAYA ENTERPRISES LIMITED USHODAYA PUBLICATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Enadu Compound,
6-3-570, Somajiguda, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.12.1973 |
|
|
|
|
Com. Reg. No.: |
01-001763 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.628
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999AP1973PTC001763 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDU00425F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU2690P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Publishing News Papers, Satellite Television, Broadcasting and Manufacturing of Food Products. |
|
|
|
|
No. of Employees
: |
3000 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 37304000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relations reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AA [Long Term Loans] |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
June 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1+ [Short Term Fund Based Facilities] |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
June 2014 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Shyam Rao |
|
Designation : |
Assistant Manager of Finance |
|
Contact No.: |
91-40-23318181 |
|
Date : |
26.07.2014 |
LOCATIONS
|
Registered Office : |
Enadu Compound,
6-3-570, Somajiguda, |
|
Tel. No.: |
91-40-23318181 |
|
Fax No.: |
91-40-23318555 /
23323186 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
6 storied |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.A1/1
(Part), Block No.3, IDA, Uppal, Hyderabad-500082, |
|
Tel. No.: |
91-40-27200351/
27720354/ 23220446/ 232200440/ 232200421/ 55666638 |
|
Fax No.: |
91-40-27200248/
27202596 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ramoji Rao |
|
Designation : |
Chairman and
Editor |
|
Address : |
Chiramal’s
Residency, |
|
Date of Birth/Age : |
16.11.1936 |
|
Date of Appointment : |
12.08.1974 |
|
Din No.: |
00089012 |
|
|
|
|
Name : |
Mr. Kiron Cherukuri |
|
Designation : |
Managing Director |
|
Address : |
3 |
|
Date of Birth/Age : |
21.05.1962 |
|
Date of Appointment : |
01.02.1996 |
|
Din No.: |
00833663 |
|
|
|
|
Name : |
Mr. Ramamohana Rao Atluri |
|
Designation : |
Director |
|
Address : |
104, Jubilee
Hills Co-Operative Housing Society, Colony Banjara Hills, |
|
Date of Birth/Age : |
05.10.1935 |
|
Date of Appointment : |
05.03.1986 |
|
Din No.: |
01557190 |
|
|
|
|
Name : |
Mr. Venkat Idupuganti |
|
Designation : |
Director |
|
Address : |
10-3-56/401, Ranga
Fort, East Marredpally, Secunderabad – 500 026, |
|
Date of Birth/Age : |
14.10.1947 |
|
Date of Appointment : |
01.01.1989 |
|
Din No.: |
00089679 |
|
|
|
|
Name : |
Vijayeswari Cherukuri |
|
Designation : |
Director |
|
Address : |
Chairman’s Residence, Ramoji Film City, Ranga Reddy-501542, Andhra
Pradesh, India |
|
Date of Birth/Age : |
20.04.1969 |
|
Date of Appointment : |
18.10.2012 |
|
Din No.: |
00089722 |
|
|
|
|
Name : |
Sailaja Cherukuri |
|
Designation : |
Director |
|
Address : |
8-2-293/82/A/1220, Road No. 36, Jubilee Hills, Hyderabad-500034,
Andhra Pradesh, India |
|
Date of Birth/Age : |
28.11.1965 |
|
Date of Appointment : |
18.10.2012 |
|
Din No.: |
00093906 |
|
|
|
|
Name : |
Sahari Cherukuri |
|
Designation : |
Director |
|
Address : |
8-2-293/82/A/1220, Road No. 36, Jubilee Hills, Hyderabad-500034,
Andhra Pradesh, India |
|
Date of Birth/Age : |
23.07.1993 |
|
Date of Appointment : |
18.10.2012 |
|
Din No.: |
06408368 |
KEY EXECUTIVES
|
Name : |
Mr. Srinivas Gajjala |
|
Designation : |
Secretary |
|
Address : |
Flat No. 5C, A R Elegance Apartments, 2-2-647/77/G/23/24, SBI Officers
Colony, Bagh Amberpet, |
|
Date of Birth/Age : |
04.02.1958 |
|
Date of Appointment : |
01.10.1996 |
|
Pan No.: |
ACWPG9764F |
|
|
|
|
Name : |
Mr. Shyam Rao |
|
Designation : |
Assistant Manager of Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ramoji Rao (HUF) |
|
72600 |
|
Equator Trading Enterprises Private Limited, India |
|
27500 |
|
Anu Trading Private Limited, India |
|
21750 |
|
Kiron Cherukuri (HUF) |
|
4270 |
|
T. V. Krishna Rao |
|
100 |
|
Ramamohana Rao Atluri |
|
20 |
|
Maagadarsi Chitfund Private Limited, India |
|
10 |
|
Manpower Selection and Management Services Private Limited, India |
|
10 |
|
Ushakiron Movies Limited, India |
|
10 |
|
Colorama Printers Private Limited |
|
10 |
|
|
|
|
|
TOTAL
|
|
126280 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
39.04 |
|
Directors
or relatives of directors |
|
60.96 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publishing News Papers, Satellite Television, Broadcasting and Manufacturing of Food Products. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Food Products |
|
Countries : |
·
UAE ·
USA |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
Russia ·
UK ·
Canada |
|
|
|
|
Terms : |
|
|
Selling : |
LC / Cash and Credit [Advance Payment ] |
|
|
|
|
Purchasing : |
LC / Cash and Credit [Advance Payment] |
GENERAL INFORMATION
|
No. of Employees : |
3000 [Approximately] |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Union Bank of India, Saifabad Branch,6-1-67/14,, First Floor, Opposite To I.G.P. Office, Saifabad, Hyderabad - 500004, Andhra Pradesh, India · State Bank of India, MID Corporate Loan Administration Unit, Hyderguda, Hyderabad-500029, Andhra Pradesh, India ·
Axis Bank Limited, Central Office, Capital
Market Department, 11th Floor, ‘F’ Wing, Maker Tower, Cuffe Parade, Mumbai-
400005, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and
Company Chartered
Accountants |
|
Address : |
102 JVR Residency, Near Nature Cure Hospital, 7-1-218/1 Balkampet,
Hyderabad – 500016, Andhra Pradesh, |
|
PAN No: |
AADFB8032G |
|
|
|
|
Subsidiaries : |
L. Chimanlal Industries
Private Limited [U28110AP1969PTC001294] |
|
|
|
|
Other Related Parties : |
·
Dolphin Hotels Limited [U55101AP1971PLC001390] ·
Margadarsi Chit Fund Private Limited [U65992AP1962PTC000927] ·
Ushakiron Movies Limited [U92111AP1987PLC007757] ·
Manpower Selection And Management Services Private Limited
[U74110AP1982PTC003469] ·
Priya Foods Private Limited [U15499AP1993PTC015450] ·
Colorama Printers Pvt Ltd [U24220AP1982PTC003563] ·
Margadarsi Marketing Pvt Ltd [U52190AP1974PTC001762] ·
Margadarsi Investment And Leasing Company Private Limited
[U65993AP1983PTC004324] ·
Ushodaya Shipping Private Limited [U63032AP1983PTC003792] ·
Images Hoardings Private Limited [U24300AP1996PTC024855] ·
Eenadu Television Private Limited [U92111AP1991PTC012643] ·
Margadarsi Chits (Karnataka) Private Limited [U65992KA2001PTC028802] ·
Margadarsi Housing Private Limited [U65921AP1995PTC022067] ·
Suman Advertising Private Limited [U22110AP1997PTC027551] ·
Prism TV Private Limited [U93000AP2008PTC062365] ·
Panorama Television Private Limited [U64204AP1996PTC024587] ·
American Cosmetic Institute Private Limited []U74900AP2011PTC077887 ·
Variety Entertainment Private Limited [U92132AP1998PTC029754] ·
Equator Trading Enterprises Private Limited [U52390MH2008PTC177456] ·
Anu Trading Private Limited [U51900MP2007PTC020084] |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs.1500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.202.048
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
126280 |
Equity Shares |
Rs.10/- each
|
Rs.12.628
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12.628 |
12.628 |
|
(b) Reserves & Surplus |
|
9313.396 |
8570.364 |
|
(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) |
|
9326.024 |
8582.992 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
1507.763 |
142.065 |
|
(b) Deferred tax liabilities (Net) |
|
17.432 |
0.000 |
|
(c) Other long
term liabilities |
|
322.143 |
283.048 |
|
(d) Long-term
provisions |
|
305.138 |
204.220 |
|
Total Non-current
Liabilities (3) |
|
2152.476 |
629.333 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
388.283 |
336.145 |
|
(b)
Trade payables |
|
533.904 |
535.970 |
|
(c)
Other current liabilities |
|
387.008 |
244.941 |
|
(d) Short-term
provisions |
|
38.012 |
36.981 |
|
Total Current Liabilities
(4) |
|
1347.207 |
1154.037 |
|
|
|
|
|
|
TOTAL |
|
12825.707 |
10366.362 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3360.257 |
2520.989 |
|
(ii)
Intangible Assets |
|
45.246 |
25.784 |
|
(iii)
Capital work-in-progress |
|
273.967 |
93.590 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2427.114 |
2419.600 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
170.700 |
258.707 |
|
(e) Other
Non-current assets |
|
2.281 |
8.063 |
|
Total Non-Current
Assets |
|
6279.565 |
5326.733 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
404.164 |
140.242 |
|
(b)
Inventories |
|
1432.723 |
1372.946 |
|
(c)
Trade receivables |
|
1471.238 |
1218.947 |
|
(d) Cash
and cash equivalents |
|
2036.287 |
1310.642 |
|
(e) Short-term
loans and advances |
|
124.889 |
110.604 |
|
(f)
Other current assets |
|
1076.841 |
886.248 |
|
Total
Current Assets |
|
6546.142 |
5039.629 |
|
|
|
|
|
|
TOTAL |
|
12825.707 |
10366.362 |
|
SOURCES
OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.628 |
|
|
2] Share
Application Money |
|
|
0.000 |
|
|
3] Reserves &
Surplus |
|
|
7719.283 |
|
|
4] Profit and Loss
Account |
|
|
0.000 |
|
NETWORTH
|
|
|
7731.911 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
685.534 |
|
|
2] Unsecured
Loans |
|
|
0.000 |
|
TOTAL BORROWING
|
|
|
685.534 |
|
DEFERRED TAX LIABILITIES
|
|
|
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
|
8417.445 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
|
2030.943 |
|
Capital Work in Progress
|
|
|
89.160 |
|
|
|
|
|
|
|
INVESTMENT
|
|
|
2610.085 |
|
DEFERREX TAX ASSETS
|
|
|
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
|
1401.044
|
|
|
Sundry Debtors
|
|
|
1115.739
|
|
|
Cash & Bank Balances
|
|
|
1101.312
|
|
|
Other Current Assets
|
|
|
33.366
|
|
|
Loans & Advances
|
|
|
1110.168
|
Total Current Assets
|
|
|
4761.629
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
|
|
438.289
|
|
|
Current Liabilities
|
|
|
422.229
|
|
|
Provisions
|
|
|
213.854
|
Total Current Liabilities
|
|
|
1074.372
|
|
Net Current Assets
|
|
|
3687.257
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
|
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
|
8417.445 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sale of Newspapers |
|
1700.500 |
1487.300 |
|
|
|
Advertisement Revenue |
|
5314.500 |
4767.500 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
1617.000 |
1417.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
110.100 |
42.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1506.900 |
1375.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
356.200 |
304.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT FOR THE
YEAR BEFORE EXCEPTIONAL ITEMS |
|
1150.700 |
1070.400 |
|
|
|
|
|
|
|
|
|
Add/ Less |
EXCEPTIONAL
ITEMS OF EXPENDITURE |
|
80.200 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
1070.500 |
1070.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
327.400 |
219.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
743.100 |
851.100 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
5884.54 |
6739.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.57
|
13.63 |
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.12 |
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.20
|
0.05 |
0.09
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.85
|
4.37 |
4.43
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
12.628 |
12.628 |
|
Reserves & Surplus |
|
8570.364 |
9313.396 |
|
Net worth |
|
8,582.992 |
9,326.024 |
|
|
|
|
|
|
long-term borrowings |
|
142.065 |
1507.763 |
|
Short term borrowings |
|
336.145 |
388.283 |
|
Total borrowings |
|
478.210 |
1,896.046 |
|
Debt/Equity ratio |
|
0.056 |
0.203 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
6254.800 |
7015.000 |
|
|
|
|
12.154 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
6254.800 |
7015.000 |
|
Profit |
|
851.100 |
743.100 |
|
|
|
13.61% |
10.59% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
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) |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10473480 |
30/12/2013 |
350,000,000.00 |
UNION BANK OF INDIA |
6-1-67/14,SAIFABAD
BRANCH, FIRST FLOOR,M OPP TO |
B94684222 |
|
2 |
10348164 |
02/11/2012 * |
1,600,000,000.00 |
UNION BANK OF INDIA |
6-1-67/14,SAIFABAD BRANCH,
FIRST FLOOR,M OPP TO |
B61659728 |
|
3 |
10008132 |
27/05/2006 |
5,310,000.00 |
KOTAK MAHINDRA BANK
LIMITED |
6-3-1109/1/P-G2, 2ND
FLOOR, JEWEL PAWANI TOWERS, |
A01594415 |
|
4 |
90116151 |
08/01/2002 |
61,610,000.00 |
IFCI LIMITED |
IFCI, 61; NEHRU PLACE,
NEW DELHI - 110019, |
- |
|
5 |
90114327 |
30/12/2013 * |
600,000,000.00 |
UNION BANK OF INDIA |
6-1-67/14,SAIFABAD
BRANCH, FIRST FLOOR,M OPP TO |
B94684727 |
* Date of charge modification
|
CASE DETAILS: ITTA 117 / 2014 ITTASR 2945 / 2013 CASE
IS: PENDING
|
||||||||||||||||||||||||
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Fully convertible debentures |
284.130 |
142.065 |
|
TOTAL
|
284.130 |
142.065 |
BUSINESS OPERATIONS:
The income from sale of
newspapers amounted to Rs.1700.500 Millions and advertisement revenue amounted to
Rs.5314.500 Millions during the year, when compared to Rs.1487.300 Millions and
Rs. 4767.500 Millions respectively in the previous year.
Advertising revenue
improved by about 11% compared to previous year due to better ad spends on
print in Andhra Pradesh. However, some of the segments like retail and real
estate sectors reduced their ad spends, due to the disturbed conditions in the
State.
Increase in staff costs and
other operating costs apart from higher interest cost on account of the loans
availed for expansion and modernization, had an impact on profitability margins
during the year.
Various events organized
during the year to enhance reader engagement, have yielded encouraging results,
while creating opportunities for monetizing the same. While the upward price
trend of newsprint came to a halt during the initial part of the year, the
trend has reversed and coupled with the unprecedented weaking of the rupee, the
landed price of newsprint has risen significantly in the current year. In the
background of economic slowdown accompanied by inflationary pressures, the
general outlook for growth in advertising continues to be cautiously
optimistic.
NATURE OF OPERATIONS:
Subject is a Company registered under Indian Companies Act, 1956. The Company is engaged in the business of publishing ‘Eenadu’, a Telugu daily through its Publications division, production of programmes in various regional languages and broadcasting them on ETV channels through its Television division, manufacturing of pickles, pastes and ready to eat food items through its Foods division and providing locations on hire for shooting films through its Entertainment division.
FIXED ASSETS:
- Land
- Building
-Factory
-Office
-On
- Temporary
Erections
- Leasehold Improvements
- Plant and
Machinery
- Data
Processing Equipment
- Furniture and
Fixtures
- Vehicles
- Library
- Live Stock
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.60.25 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.80.07 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.