MIRA INFORM REPORT
|
Report Date : |
29.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
BENNETT COLEMAN AND COMPANY LIMITED |
|
|
|
|
Registered Office
: |
The Times of |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.11.1913 |
|
|
|
|
Com. Reg. No.: |
11-000391 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2869.600 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22120MH1913PLC000391 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TIN No.: |
29060084369 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB4373Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is primarily engaged in the business of publication
of newspapers. The Company publishes the highest selling English broadsheet
daily in the world, i.e., The Times of India. Apart from this the Company
publishes newspapers like The Economic Times, Navbharat Times, Maharashtra
Times, etc. It also houses three television channels zoOm ET Now and Romedy
Now. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (82) |
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a flagship company of ‘Times Group’. It is one of the
oldest and highly respected publishing house in the country. Financial position of the company is sound. Fundamentals of the company
are strong and healthy. The company has a strong financial risk profile,
marked by large net worth, comfortable gearing, strong debt protection
metrics and healthy liquidity. Trade relations are reported to be praiseworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered excellent 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AAA |
|
Rating Explanation |
Highest degree of safety it carry lowest
credit risk. |
|
Date |
December 11, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
Management non-cooperative
[Tel. No.: 91-22-66353535]
LOCATIONS
|
Registered Office : |
The Times of |
|
Tel. No.: |
91-22-66353535/ 66354460/ 66354159 |
|
Mobile No.: |
91-9819128038 (Mr. Subramanium) |
|
Fax No.: |
91-22-22620144/ 22731737 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 25.08.2014
|
Name : |
Mr. Samir Jain |
|
Designation : |
Managing director |
|
Address : |
15, Moti Lal Nehru Marg, |
|
Date of Birth/Age : |
22.06.1954 |
|
Qualification: |
B.A |
|
Date of Appointment : |
01.02.2010 |
|
PAN No.: |
AEHPJ3016Q |
|
DIN No.: |
00001337 |
|
|
|
|
Name : |
Mrs. Indu Jain |
|
Designation : |
Whole-time Director |
|
Address : |
H. No.6, Sardar Patel Marg, |
|
Date of Birth/Age : |
08.09.1936 |
|
Qualification: |
Professional |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
AEHPJ3014N |
|
DIN No.: |
00004040 |
|
|
|
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Managing Director |
|
Address : |
15, Moti Lal Nehru Marg, |
|
Date of Birth/Age : |
12.02.1966 |
|
Qualification: |
Management
Graduate from American Uni.of |
|
Date of Appointment : |
27.06.2013 |
|
PAN No.: |
AEHPJ3012L |
|
DIN No.: |
00003962 |
|
|
|
|
Name : |
Mr. Ravindra Dhariwal |
|
Designation : |
Whole Time Director |
|
Address : |
Aashray Farm, Khasra No.1523, Asola Village, New Delhi – 110 030,
India |
|
Date of Birth/Age : |
11.09.1952 |
|
Qualification: |
B. Tech,
M.B.A-Marketing and Finance |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
ADPPD1049Q |
|
DIN No.: |
00003922 |
|
|
|
|
Name : |
Mrs. Kalpana Jaisingh Morparia |
|
Designation : |
Director |
|
Address : |
B-92, Ocean Gold Chs, Twin Tower Lane,
Prabhadevi, Mumbai – 400 025, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1949 |
|
Qualification: |
B.Sc. LL.B. |
|
Date of Appointment : |
23.10.2007 |
|
DIN No.: |
00046081 |
|
|
|
|
Name : |
Mrs. Amba Preetham Parigi |
|
Designation : |
Director |
|
Address : |
Tahnee Heights CHS Limited, 66, Nepean Sea
Road, Mumbai – 400 036, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1949 |
|
Qualification: |
MA, MBA |
|
Date of Appointment : |
23.10.2007 |
|
DIN No.: |
00087586 |
|
|
|
|
Name : |
Mr. Shrijeet Ramakanta Mishra |
|
Designation : |
Whole Time Director |
|
Address : |
301, Gitanjali Gardens, 3rd Floor, 58E, Nepean Sea Road,
Rungta Lane, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
22.04.1965 |
|
Qualification: |
B.A, PGDM- IIM
Ahmedabad. |
|
Date of Appointment : |
11.08.2011 |
|
PAN No.: |
ABXPM9824C |
|
DIN No.: |
01894081 |
|
|
|
|
Name : |
Mr. Meleveetil Damodaran |
|
Designation : |
Director |
|
Address : |
D-8/3, D Block, Vasant Vihar, New Delhi – 110 057, India |
|
Date of Birth/Age : |
04.05.1947 |
|
Qualification: |
B. Tech,
M.B.A-Marketing and Finance |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
02106990 |
|
|
|
|
Name : |
Mr. Arunabh Das Sharma |
|
Designation : |
Whole Time Director |
|
Address : |
W-129, Greater Kailash - 1, New Delhi – 110 048, India |
|
Date of Birth/Age : |
17.03.1968 |
|
Qualification: |
Graduation in
Economics, IIM Kolkata |
|
Date of Appointment : |
27.09.2013 |
|
PAN No.: |
AAAAA1234A |
|
DIN No.: |
03464498 |
|
|
|
|
Name : |
Mr. Sanjay Kapoor |
|
Designation : |
Director |
|
Address : |
709-A, Beverly Park-1, DLF-II, Gurgaon – 122 002, Haryana, India |
|
Date of Birth/Age : |
28.02.1962 |
|
Date of Appointment : |
11.11.2013 |
|
DIN No.: |
01973450 |
KEY EXECUTIVES
|
Name : |
Mr. Kausik Nath |
|
Designation : |
Company Secretary |
|
Address : |
A-202, Sea View Building, Charkop, Sector 8, Kandivali (West), Mumbai
- 400 067, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1964 |
|
Date of Appointment : |
06.03.2012 |
|
PAN No.: |
AACPN1272B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sanmati
Properties Limited, |
|
27981000 |
|
Bharat Nidhi
Limited, |
|
70041600 |
|
PNB Finance and
Industries Limited, |
|
26665848 |
|
Vineet Jain |
|
1642248 |
|
Samir Jain |
|
7200 |
|
Meera Jain |
|
943200 |
|
Camac Commercial
Company Limited, |
|
38161548 |
|
Arth Udyog
Limited, |
|
26719848 |
|
Jacaranda
Corporate Services Limited, |
|
25632000 |
|
T.M. Investments
Limited, India |
|
17093016 |
|
Ashok Viniyoga
Limited, India |
|
51707916 |
|
Trishla Jain |
|
360000 |
|
Total |
|
286955424 |
AS ON 25.08.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
98.97 |
|
Directors
or relatives of directors |
|
1.03 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of
publication of newspapers. The Company publishes the highest selling English
broadsheet daily in the world, i.e., The Times of India. Apart from this the
Company publishes newspapers like The Economic Times, Navbharat Times,
Maharashtra Times, etc. It also houses three television channels zoOm ET Now
and Romedy Now. |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT APPLICABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
· The Hong Kong and Shanghai Banking Corporation Limited, Hong Kong Bank Building, 52/60, Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India · United Bank of India, 25, Sir P M Road, Mumbai, Maharashtra, India · Punjab National Bank, Black House. Fort, Mumbai – 400 001, Maharashtra, India · Standard Chartered Bank (act as agent for itself and on behalf of other lenders), 90, Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India |
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Facilities: |
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
6, Karim Chambers, 40, Ambalala Doshi Marg, Mumbai – 400 023, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL1893K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies, including step down
subsidiaries : |
·
A2zShopping Limited (merged into Times Internet Limited with appointed
date April 1, 2012) ·
Amrita Estates Private Limited ·
Ananta Properties Private Limited ·
Alternate Brand Solutions (India) Limited ·
Artha Broking Services Limited (upto March 28, 2014) ·
Artha Commodities Limited (upto March 28, 2014) ·
Artha Credit Private Limited (upto August 4, 2013) ·
Artha Distribution Services Limited (upto March 28, 2014) ·
Artha Financial Services Limited (upto March 28, 2014) ·
Artha Forex Services Limited (upto February 14, 2014) ·
Artha Insurance Broking Services Limited (upto March 28, 2014) ·
Artha Network Services Limited (upto December 30, 2013) ·
Artha Reality Private Limited (upto January 21, 2014) ·
BCCL International Events Private Limited ·
Bennett Broadcasting and Distribution Services Limited (BBDSL) ·
Brand Equity Treaties Limited ·
Centre for Excellence in Management Training and Development ·
Dharmayug Investments Limited ·
Entertainment Network (India) Limited (ENIL) ·
Light Feather Films Limited (from February 5, 2014) ·
Magic Bricks Realty Services Limited (from August 19, 2013) ·
Media Network and Distribution (India) Limited (MNDIL) ·
Metropolitan Media Company Limited ·
Mind Games Shows Private Limited ·
Mirchi Movies (India) Limited ·
One Golden Square Creative Limited (up to December 31, 2013) ·
Satyam Properties and Finance Limited ·
Speaking Tree Properties Limited ·
Times Box TV Media PTE Limited ·
Times Business Solutions Limited ·
Times Centre for Learning Limited ·
Times City Limited ·
Times Conferences Limited ·
Times Deals Limited ·
Times Digital Limited ·
Times Global Broadcasting Company Limited (TGBCL) ·
Times Guaranty Limited ·
Times Infotainment Media Limited ·
Times Innovative Media Limited ·
Times Internet (UK) Limited, UK ·
Times Internet Inc., USA ·
Times Internet Limited ·
Times Jobs Limited ·
Times Journal India Limited ·
Times Mobile Limited ·
Times Websol Limited ·
Times VPL Limited (merged into Metropolitan Media Company Limited with
appointed date April 1, 2012 and effective date August 22, 2013) ·
TIM Delhi Airport Advertising Private Limited ·
TIML Global Limited ·
TIML Golden Square Limited (up to December 31, 2013) ·
TIML Radio Holdings Limited (up to December 31, 2013) ·
TIML Digital Radio Limited (up to December 31, 2013) ·
TIML Radio Limited (up to December 31, 2013) ·
Vardhaman Publishers Limited ·
Worldwide Media Private Limited ·
Zoom Entertainment Network Limited |
|
|
|
|
Joint Ventures : |
Aegon
Religare Life Insurance Company Limited |
|
|
|
|
Enterprises owned or having significant influence
by Key Managerial Personnel (ESM) : |
·
21st Century Constructions Limited ·
Aadidev Properties Limited ·
Anagha Estates Limited ·
Ativeer Properties Limited ·
Banhem Estates and IT Parks Limited ·
Bennett Property Holdings Company Limited (BPHCL) ·
Cyber Space Infotainment Limited ·
Nandeeshwar Properties Limited ·
Rajdhani Printers Limited ·
Shubhan Properties Limited ·
Suryashankar Properties Limited ·
Sushena Properties Limited |
|
|
|
|
Associate Companies : |
TimesofMoney Limited Daiki Brands Private
Limited (from June 19, 2012) M N & C Supply Links
Retail India Private Limited (from October 31, 2013) Lifespan Wellness Private
Limited (from January 21, 2013) Jumboten Marketplace
India Private Limited (from November 30, 2013) Brand Storm India
Marketing Private Limited (from October 29, 2013) Provogue Personal
Care Private Limited (from October 17, 2013) |
CAPITAL STRUCTURE
AS ON 25.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
286955424 |
Equity Shares |
Rs.10/- each |
Rs.2869.600 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2869.600 |
2869.600 |
2869.600 |
|
(b) Reserves & Surplus |
66654.100 |
58644.000 |
51449.300 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
69523.700 |
61513.600 |
54318.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1930.900 |
1151.500 |
900.100 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1930.900 |
1151.500 |
900.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3634.600 |
835.300 |
1357.900 |
|
(b) Trade
payables |
7546.600 |
7084.400 |
7021.500 |
|
(c)
Other current liabilities |
17853.700 |
16285.800 |
11897.800 |
|
(d) Short-term
provisions |
630.900 |
637.500 |
2091.000 |
|
Total Current
Liabilities (4) |
29665.800 |
24843.000 |
22368.200 |
|
|
|
|
|
|
TOTAL |
101120.400 |
87508.100 |
77587.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
17335.900 |
16718.200 |
15922.600 |
|
(ii)
Intangible Assets |
53.100 |
0.400 |
0.000 |
|
(iii)
Capital work-in-progress |
72.900 |
1626.700 |
1987.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
40637.900 |
36541.700 |
33091.800 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8137.200 |
8684.400 |
5934.600 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
66237.000 |
63571.400 |
56936.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
14959.400 |
6681.200 |
3632.300 |
|
(b)
Inventories |
6497.500 |
4122.200 |
5585.500 |
|
(c)
Trade receivables |
9306.100 |
8403.900 |
7437.900 |
|
(d) Cash
and cash equivalents |
1849.200 |
2164.300 |
1908.700 |
|
(e) Short-term
loans and advances |
2242.900 |
2556.400 |
2080.200 |
|
(f)
Other current assets |
28.300 |
8.700 |
5.800 |
|
Total
Current Assets |
34883.400 |
23936.700 |
20650.400 |
|
|
|
|
|
|
TOTAL |
101120.400 |
87508.100 |
77587.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
55536.300 |
50416.300 |
48620.800 |
|
|
|
Other Income |
1059.900 |
1087.900 |
848.500 |
|
|
|
TOTAL (A) |
56596.200 |
51504.200 |
49469.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
15381.700 |
14645.500 |
14829.800 |
|
|
|
Purchases of stock-in-trade |
547.600 |
464.500 |
70.200 |
|
|
|
Employee benefit expense |
9371.700 |
8163.800 |
8185.800 |
|
|
|
Other expenses |
15517.700 |
14871.900 |
16402.700 |
|
|
|
TOTAL (B) |
40818.700 |
38145.700 |
39488.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
15777.500 |
13358.500 |
9980.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
326.300 |
130.700 |
124.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
15451.200 |
13227.800 |
9856.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2497.000 |
2275.300 |
2292.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
12954.200 |
10952.500 |
7564.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4742.600 |
3556.300 |
2191.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
8211.600 |
7396.200 |
5373.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
644.000 |
449.300 |
510.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend (including Corporate tax on Dividend) |
201.500 |
201.500 |
200.100 |
|
|
|
Transfer to General Reserve |
8000.000 |
7000.000 |
5234.300 |
|
|
BALANCE CARRIED
TO THE B/S |
654.100 |
644.000 |
449.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods: Publications |
19.400 |
19.900 |
19.900 |
|
|
|
Cassettes / CDs |
2.600 |
9.800 |
8.300 |
|
|
|
Advertisement Income |
489.500 |
391.100 |
477.800 |
|
|
|
Others |
92.500 |
85.900 |
53.100 |
|
|
TOTAL EARNINGS |
604.000 |
506.700 |
559.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
13275.800 |
9838.600 |
12517.800 |
|
|
|
Consumable Stores & Spare parts |
399.000 |
350.100 |
337.800 |
|
|
|
Capital Goods |
916.000 |
1579.800 |
980.000 |
|
|
|
Traded Products |
0.000 |
0.700 |
0.000 |
|
|
TOTAL IMPORTS |
14590.800 |
11769.200 |
13835.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
28.62 |
25.77 |
18.72 |
|
|
|
- Diluted |
28.27 |
25.45 |
18.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
14.79 |
14.67 |
11.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
28.41 |
26.50 |
20.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.44 |
22.20 |
17.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.18 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.05 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
0.96 |
0.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
2869.600 |
2869.600 |
2869.600 |
|
Reserves & Surplus |
51449.300 |
58644.000 |
66654.100 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
54318.900 |
61513.600 |
69523.700 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
1357.900 |
835.300 |
3634.600 |
|
Total borrowings |
1357.900 |
835.300 |
3634.600 |
|
Debt/Equity ratio |
0.025 |
0.014 |
0.052 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operation |
48,620.800 |
50,416.300 |
55,536.300 |
|
|
|
3.693 |
10.155 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operation |
48,620.800 |
50,416.300 |
55,536.300 |
|
Profit |
5,373.200 |
7,396.200 |
8,211.600 |
|
|
11.05% |
14.67% |
14.79% |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Current Maturities
of Long Term Debts is Not Available.
|
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 |
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] |
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
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 11.06.2014 |
|
Lodging No: SL/563/2014 Filing Date: 11.06.2014
Reg. No.: S/932/2014
Reg.
Date: 28.11.2014 |
|
Petitioner: INFOSYS LIMITED Respondent: BENNETT COLEMAN AND
COMPANY LIMITED Petn. Adv : KADAM AND COMPANY ADVOCATES (I7772) Resp. Adv.:- District: OUTSIDE MAHARASHTRA |
|
Bench: SINGLE Status: Pre-Admission
Category: SUITS FOR DEFAMATION Next Date: 03.07.2014
Stage: FOR REJECTION [ORIGINAL SIDE MATTERS] Last Coram: REGISTRAR(OS)/PROTHONOTARY
AND SR. MASTER |
|
Act: Code of Civil
Procedure 1908 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee Term Loans from Banks |
1264.600 |
683.700 |
|
Total |
1264.600 |
683.700 |
CORPORATE
INFORMATION:
Subject is primarily engaged in the business of publication of
newspapers. The Company publishes the highest selling English broadsheet daily in
the world, i.e., The Times of India. Apart from this the Company publishes
newspapers like The Economic Times, Navbharat Times, Maharashtra Times, etc. It
also houses three television channels zoOm ET Now and Romedy Now. The Company
has subsidiaries which are engaged in the areas of internet, e-commerce, radio,
television, out of home, etc.
REVIEW OF OPERATIONS
PRINT
During the year, the
flagship brand, Times of India achieved an overall growth in circulation. The
Newspaper in Education (NIE) segment registered an impressive growth of over 8%
as compared to previous year.
Economic Times maintained
its market share for Business Dailies.
The company took a major
step forward in languages through launch of Navbharat Times in Lucknow. This
launch opens up a significant opportunity for NBT in the Hindi heartland.
Maharashtra Times launched
two new editions in Jalgaon and Ahmednagar, further consolidating its position
in the Western markets with a total of 8 editions.
The company recently
launched Nav Gujarat Samay, a general interest daily in Gujarati language in
the cities of Ahmedabad and Gandhinagar.
This launch makes the
company the only newspaper group to have major publications in 5 Indian
languages - Hindi, Marathi, Kannada, Bengali and Gujarati.
In a challenging business
environment for Media industry, newspaper advertising spends grew by only 5%
(Group M report 2014), the company achieved a growth of 8% for the year 2013-14
the company successfully pursued a strategy of growth both in volume and yield.
Global Newsprint demand
continued to decline (~1%) and capacity closures followed, led by North
American and European mills. Indian Newsprint consumption growth remained at
6%.
Imported Newsprint upward
price trend was contained but publishers had to bear the brunt of a volatile
and depreciated Rupee. Keeping pace with imported newsprint rates, prices of
indigenous mills were also marked up.
TV
ZOOM
During the year, the
channel maintained its viewership share while the segment saw lot of competition.
The channel continued to on the social media networks and became the first
Indian TV brand to cross the 7 million mark on Facebook. In April 2013 zoOm
launched a new digital channel on YouTube Telly Talk India which has grown to
over 2.3 crore views by 31st March 2014.
ET-NOW
During the year, ET NOW
continued to remain the definitive choice of viewers in the English Business
News category and dominated the genre.
On the content and
programming front, the channel continued to add newer formats both during
weekdays and weekends, even as it strengthened its core proposition of
market-moving stories and superior stock recommendations based on technical
analysis.
ET NOW also hosted its
first-ever India Economic Conclave, which is a national thought leadership
platform meant to spotlight and address key economic challenges facing the
country. It was well received by all the stakeholders, including the
government, industry and civil society.
ROMEDY NOW
During the year a new
channel Remedy Now was launched on 22nd September 2013. Romedy NOW is a first
of its kind Premium English Entertainment Channel ushering Love and Laughter
together for the first time on Television. The channel caters to the Urban
affluent audiences across all 8 metros and has established its leadership in a
span of just 7 months from its launch.
Romedy NOW has won a number
of laurels in the first year of its launch : The channel won the Promax Gold
for the Best On-Air Branding Design. The channel was awarded the Broadcaster
Abby (Bronze) for the Best TV channel launch at The Goafest 2014 and won 2
awards for Print innovations for its launch campaign at the Exchange4medias Ink
Awards 2014.
MUSIC
During the year, Times
Music continued its leadership in Indian Classical, Devotional, Spiritual and
Wellness genres with an impressive turnover.
INFORMATION TECHNOLOGY
The
Company continues to invest in Information Technology across all areas of its
business to leverage benefits of integrated workflows.
PRESS PROJECTS
During this year, your
company commissioned additional press lines to meet market requirements.
PRODUCTION
During
this year, your company has made substantial contribution in delivering value
added offering to the customers through innovative offerings. The company
continued its drive on productivity improvements. Both these have received
recognition in various forums.
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10123441 |
10/09/2008 |
1,484,954,500.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
HONGKONG BANK BUILDING,
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A46082657 |
|
2 |
10087720 |
14/01/2008 |
2,490,000,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
52/60, MAHATMA GANDHI
ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A30430003 |
|
3 |
10052869 |
31/05/2008 * |
5,950,000,000.00 |
STANDARD CHARTERED BANK (ACT
AS AGENT FOR ITSELF AND |
90, MAHATMA GANDHI ROAD,
FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A39272349 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Claims against
the Company not acknowledged as debts |
|
|
|
Labour Claims |
39.600 |
38.300 |
|
Others excluding cases with remote probability as per legal opinion
obtained |
44.000 |
41.500 |
|
Disputed Sales tax matters (excludes further interest leviable, if
any) |
201.400 |
185.400 |
|
Corporate guarantees on behalf of Subsidiaries |
2810.500 |
800.000 |
|
Earmarking of funded and non-funded banking facilities
for availment by subsidiaries [Actual availment Rs.1226.200 millions (PY:
1136.900 millions)] |
2406.100 |
2355.200 |
In addition to the above, the Company has issued letters for providing
financial support to certain subsidiaries for which the amounts are not
quantifiable.
The management believes that the ultimate outcome of the legal
proceedings on account of libel suits, etc. will not have material adverse
effect on the Company’s financial position and results of operations.
FIXED ASSETS:
Tangible Assets
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Office Equipments
· Vehicles
Intangible Assets
· Copyrights, Patents and Other Operating Rights
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] 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.63.64 |
|
|
1 |
Rs.98.98 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
-- PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
82 |
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.