MIRA
INFORM REPORT
|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED (w.e.f.
24.12.2008) |
|
|
|
|
Formerly Known
As : |
VIRTUAL MARKETING ( |
|
|
|
|
Registered
Office : |
F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills
Lane, Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.04.1999 |
|
|
|
|
Com. Reg. No.: |
11-119259 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.703
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U12000MH1999PTC119259 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV06740G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV289H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Aggregator, Developer, Publisher and Distributor of Entertainment
Content. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4280000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well-established company having satisfactory track
record. Management of the company has failed to file its latest financials of
2013 with government department. As per of 2012, overall financial position of the company is sound. However, 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 normal 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.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under control,
said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up
from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a one-fourth
share in total jobs created, according to a study by industry lobby group
Assochem, Banks, real estate, automobile and telecommunications sectors are
showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has temporarily
banned gold imports for the second time in six months, as it tries to stem
smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Banking facilities : BBB+ |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
February 12, 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
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Devang Jain |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-22-24903344 |
|
Date : |
18.02.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane,
Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24903344/ 40853344 |
|
Fax No.: |
91-22-24903355 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Offices : |
Haryana v 2nd Floor, Cybiz Centre, Plot No. 309-310, Udyog Vihar, Phase IV, Gurgaon -122015, Haryana, India Tel : 91-124-4503344 Fax : 91-124-4503355 Kolkata v 15/C, Rahim Ostagar Road, Flat 3A, Apanjan Apartment, Jodhpur Park, Kolkata - 700045, West Bengal, India Phone: 91-33-40060426 Bangalore v No.2582, 17th Main, 2nd Cross, HAL 2nd Stage, Indiranagar, Bangalore – 560008, Karnataka, India Board No: 91-80-43513344 Fax No: 91-80-43513355 Chennai v
No. 7, Lalithapuram Street, Royapettah,
Chennai - 600014, Tamilnadu, India Fax: 91-44-42637312 |
|
|
|
|
Regional Offices : |
Located at: v Pune v Haryana v Bangalore v Vadodara v Rajkot v Kolkata v Chennai v Hyderabad |
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|
|
|
Overseas Offices : |
Located at: v New York v Dubai v
Malaysia |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Neeraj Roy |
|
Designation : |
Managing director |
|
Address : |
602, RNA Aurovilla,
6th Floor, Near Poddar School, Jain Derasar Marg, Opposite Jain Mandir,
Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1967 |
|
Date of Appointment : |
12.04.1999 |
|
PAN No.: |
ADLPR8342L |
|
DIN No.: |
00285875 |
|
|
|
|
Name : |
Mr. Hiren Haresh Ved |
|
Designation : |
Director |
|
Address : |
B/606-607 Mistry Apartment, Parsi Panchayat Service Road, Andheri
(East), Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1970 |
|
Date of Appointment : |
30.05.2000 |
|
DIN No.: |
00049597 |
|
|
|
|
Name : |
Mr. Ashish Rameshchandra Kacholia |
|
Designation : |
Director |
|
Address : |
44, Vaikunth Co-operative Housing Society Limited, Lallubhai Park Road,
Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
14.04.1969 |
|
Date of Appointment : |
12.04.1999 |
|
DIN No.: |
00252649 |
|
|
|
|
Name : |
Mr. Rajiv Ambrish Agarwal |
|
Designation : |
Director |
|
Address : |
Chamaria Niwas, 3rd Floor, 41, Mahant Road, Vile Parle (East), Mumbai
- 400057, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1971 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
00379990 |
|
|
|
|
Name : |
Mr. Rakesh Radheyshyam Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
16 C, 6th Floor, Il Palazzo, Lt Gi Rd M Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
02.08.2001 |
|
PAN No.: |
ACPPJ9449M |
|
DIN No.: |
00777064 |
|
|
|
|
Name : |
Mr. Ralph Robert Simon |
|
Designation : |
Director |
|
Address : |
9 Elsworthy Road, London, NW33DS, UK |
|
Date of Birth/Age : |
19.12.1946 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
03042121 |
KEY EXECUTIVES
|
Name : |
Mr. Devang Jain |
|
Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
1.61 |
|
Bodies
corporate |
37.83 |
|
Directors
or relatives of directors |
36.27 |
|
Other
top fifty shareholders |
24.29 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Aggregator, Developer, Publisher and Distributor of Entertainment
Content. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
v IDBI Bank Limited IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005,
Maharashtra, India |
||||||||||||||||||||||||
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|
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Facilities : |
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|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gandhi Paleja And Associates Chartered Accountants |
|
Address : |
I / 12, Everest 10th Floor, Pandit Madan Mohan Malaviya
Marg, Tardeo, Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-23520250/ 23523805 |
|
Fax No.: |
91-22-23525925 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFG0989J |
|
|
|
|
Associates : |
v Saavn LLC v Astute
Systems Private Limited [U30003MH1995PTC093581] |
|
|
|
|
Other Related Parties : |
v Rare Enterprises v Samta Investrade
Private Limited |
|
|
|
|
Subsidiary company
: |
v Hungama .Com Private Limited [U74999MH2012PTC226152] v Hungama
Digital Services Private Limited [U74120MH2011PTC224699] v Hungama
(Bangladesh) Private Limited v Nautanki.tv
Networks Private Limited [U72900MH2008PTC177914] v Hungama FZ
LLC |
CAPITAL STRUCTURE
AFTER 30.09.2011
Authorised Capital : Rs. 220.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 28.703
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,870,250 |
Equity Shares |
Rs. 10/- each |
Rs. 28.703
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 |
|
28.703 |
26.981 |
|
(b) Reserves & Surplus |
|
1,041.636 |
895.733 |
|
(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) |
|
1,070.339 |
922.714 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
152.697 |
152.312 |
|
(b) Deferred tax liabilities (Net) |
|
0.778 |
12.509 |
|
(c) Other long
term liabilities |
|
7.817 |
7.817 |
|
(d) long-term
provisions |
|
43.089 |
31.659 |
|
Total Non-current
Liabilities (3) |
|
204.381 |
204.297 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
665.371 |
533.892 |
|
(b)
Trade payables |
|
435.396 |
323.566 |
|
(c)
Other current liabilities |
|
129.369 |
180.220 |
|
(d) Short-term
provisions |
|
117.177 |
83.950 |
|
Total Current
Liabilities (4) |
|
1,347.313 |
1,121.628 |
|
|
|
|
|
|
TOTAL |
|
2,622.033 |
2,248.639 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
143.517 |
102.321 |
|
(ii)
Intangible Assets |
|
41.476 |
33.526 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
30.129 |
0.624 |
|
(b) Non-current Investments |
|
42.589 |
75.087 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
99.690 |
126.896 |
|
(e) Other
Non-current assets |
|
1.074 |
1.004 |
|
Total Non-Current
Assets |
|
358.475 |
339.458 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.054 |
|
(c)
Trade receivables |
|
1,484.472 |
1,276.564 |
|
(d) Cash
and cash equivalents |
|
133.964 |
173.098 |
|
(e)
Short-term loans and advances |
|
629.322 |
454.465 |
|
(f)
Other current assets |
|
15.800 |
5.000 |
|
Total
Current Assets |
|
2,263.558 |
1,909.181 |
|
|
|
|
|
|
TOTAL |
|
2,622.033 |
2,248.639 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
26.981 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
687.916 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
714.897 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
335.717 |
|
|
2] Unsecured Loans |
|
|
300.000 |
|
|
TOTAL BORROWING |
|
|
635.717 |
|
|
DEFERRED TAX LIABILITIES |
|
|
13.113 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1363.727 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
111.970 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
74.611 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.089 |
|
|
Sundry Debtors |
|
|
897.566 |
|
|
Cash & Bank Balances |
|
|
36.938 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
548.768 |
|
Total
Current Assets |
|
|
1483.361 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
123.577 |
|
|
Other Current Liabilities |
|
|
108.765 |
|
|
Provisions |
|
|
73.873 |
|
Total
Current Liabilities |
|
|
306.215 |
|
|
Net Current Assets |
|
|
1177.146 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1363.727 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
GROSS INCOME |
|
|
|
|
|
|
|
TOTAL |
|
3944.600 |
3095.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
145.900 |
207.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
85.681 |
32.256 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
50.83 |
72.40 |
|
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
2289.692 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
2148.141 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
141.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
49.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
|
91.749 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
21.314 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
31.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA |
4.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
8.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.76
|
0.74 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.70 |
4.84 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Share Capital |
26.981 |
28.703 |
|
Reserves & Surplus |
895.733 |
1,041.640 |
|
Net
worth |
922.714 |
1,070.339 |
|
|
|
|
|
long-term borrowings |
152.312 |
152.697 |
|
Short term borrowings |
533.892 |
665.371 |
|
Total
borrowings |
686.204 |
818.068 |
|
Debt/Equity
ratio |
0.744 |
0.764 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Gross Income |
3095.500 |
3944.600 |
|
|
|
27.430 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Gross Income |
3095.500 |
3944.600 |
|
Profit |
207.800 |
145.900 |
|
|
6.71% |
3.70% |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10256070 |
30/03/2012 * |
750,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B36905297 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from others |
150.000 |
150.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from others |
75.000 |
75.000 |
|
|
|
|
|
Total |
225.000 |
225.000 |
OPERATING RESULTS
During the year ended March 31, 2012, the company earned a net profit
after tax of Rs. 145.900 Millions on a gross income of Rs. 3944.600 Millions.
The amount transfer to Balance Sheet is Rs. 430.900 Millions.
OVERVIEW
This is the first time their company has clocked a turnover in excess of
Rs. 3500.000 Millions, setting a new benchmark in their business and indeed
laying a very strong foundation for quantum growth from here.
The Mobile Value Added Services (MVAS) market is expected to move
further from the SMS based services to Internet-based and application based
services. However, the continuously changing TRAI guidelines have resulted in a
reduction in the MVAS market size during the last few months and will continue
to pose a challenge for the coming year.
AWARDS AND
RECOGNITION
The company maintained its winning streak with several awards in Mobile
Entertainment and Digital and Mobile marketing, both in the Indian and
International markets.
The Digital Services Division of the company earned the “Most Preferred
Marketing Developer” badge by Facebook.
FIXED ASSETS:
v Plant and equipment
v Furniture and fixtures
v Vehicles
v Motor vehicles
v Office equipment
v Computer equipments
v Computer software
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 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. 62.12 |
|
|
1 |
Rs. 103.93 |
|
Euro |
1 |
RS. 85.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.