MIRA
INFORM REPORT
|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE SANDESH LIMITED |
|
|
|
|
Registered
Office : |
Sandesh Bhavan, Lad Society Road, Behind Vastrapur Gam, P.O. Bodkdev,
Ahmedabad – 380056, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.03.1943 |
|
|
|
|
Com. Reg. No.: |
04-000183 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 75.694 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L22121GJ1943PLC000183 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMT00069G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5730D |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Publisher of Newspaper and Journal Periodicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 14340000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established company having a fine track record. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million worth
of mobile-phone-based transactions by July 2013 compared to Rs.260 million in
September, 2012, according to Deloitte report. The number of transactions has
shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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.
LOCATIONS
|
Registered Office/ Plant/ Factory 1 : |
Sandesh Bhavan, Lad Society Road, Behind Vastrapur Gam, P.O. Bodkdev,
Ahmedabad – 380056, Gujarat, India |
|
Tel. No.: |
91-79-40004000/ 26765480/ 40004175/ 25624241 |
|
Fax No.: |
91-79-40054121/ 40004242/ 40004175/ 40004148 |
|
E-Mail : |
cs@sandesh.com investorsgrievance@sandesh.com |
|
Website : |
www.sandesh.com |
|
Area: |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Plant/ Factory 2 : |
“Satyesh Bhavan”, Behind Jalaram Temple, Bahucharaji Road, Karelibaug, Baroda, Gujarat, India |
|
|
|
|
Plant/ Factory 3 : |
“Satyesh Bhavan”, Dakoriya Mill Compound, Near Gurudev Petrol Pump, Khatodara Gidc, Bamroli Road, Surat, Gujarat, India |
|
|
|
|
Plant/ Factory 4
: |
“Sandesh Bhavan”, Opposite Sat Hanuman, Navagam, Rajkot-Ahmedabad Highway, Rajkot, Gujarat, India |
|
|
|
|
Plant/ Factory 5
: |
“Satyesh Bhavan”, Ruvapari Road, Bhavnagar, Gujarat, India |
|
|
|
|
Plant/ Factory 6 : |
Godown No. 3, Gujarat State Warehousing Corporation, Near Atmaram Circle & Bajaj Showroom, Bhuj Madhapar Road, Bhuj, Gujarat, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr.
Falgunbhai Patel |
|
Designation : |
Chairman and Managing Director
|
|
|
|
|
Name : |
Mr. Parthiv
Patel |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Sudhirbhai Nanavati |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Mukesh Patel |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Shreyas Pandya |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Ravindra Dhariwal |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Ms. Pannaben Patel |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Dr. Justice Jitendra N. Bhatt |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Sandeep Singhi |
|
Designation : |
Non Executive Additional Director |
|
|
|
|
Name : |
Mr. Yogesh Jani |
|
Designation : |
Executive Additional Director |
KEY EXECUTIVES
|
Name : |
Mr. Dhaval Pandya |
|
Designation : |
Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Category of Shareholder |
No. of Shares |
% of No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1777400 |
23.48 |
|
|
3885617 |
51.33 |
|
|
5663017 |
74.81 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
5663017 |
74.81 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
500 |
0.01 |
|
|
500 |
0.01 |
|
|
|
|
|
|
1024476 |
13.53 |
|
|
|
|
|
|
596392 |
7.88 |
|
|
224810 |
2.97 |
|
|
60226 |
0.80 |
|
|
16883 |
0.22 |
|
|
43343 |
0.57 |
|
|
1905904 |
25.18 |
|
Total Public shareholding (B) |
1906404 |
25.19 |
|
Total (A)+(B) |
7569421 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
7569421 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Publisher of Newspaper and Journal Periodicals. |
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Daily |
No. in Lacs |
3244.170 |
|
Weekly |
No. in Lacs |
7.90 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Yes Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Manubhai and Company Chartered Accountants |
|
Address : |
2nd Floor,
"B" Wing, Premium House, Near Gandhigram Railway Station,
Navrangpura, Ahmedabad - 380009, Gujarat |
|
|
|
|
Related Parties : |
·
Satlon Enterprise Private Limited ·
Dhanali Stock Holdings Private Limited ·
Sandesh Procon LLP ·
Saintfoint Enterprise LLP ·
Scabious Enterprise LLP ·
Satyesh Prochem LLP ·
Applewoods Estate Private Limited ·
Nilsan Realty LLP ·
Autumnleaf Estates Private Limited ·
Lilavati Chimanbhai Patel Charitable Trust |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7569421 |
Equity Shares |
Rs.10/- each |
Rs. 75.694
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
75.694 |
85.294 |
85.338 |
|
(b) Reserves & Surplus |
3510.491 |
3250.027 |
2897.561 |
|
(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) |
3586.185 |
3335.321 |
2982.899 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
58.493 |
65.599 |
60.558 |
|
(c) Other long term liabilities |
83.058 |
74.649 |
64.965 |
|
(d) long-term provisions |
15.598 |
9.633 |
8.092 |
|
Total Non-current Liabilities (3) |
157.149 |
149.881 |
133.615 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
676.762 |
816.529 |
193.980 |
|
(b) Trade payables |
79.377 |
134.449 |
113.730 |
|
(c) Other current
liabilities |
529.615 |
453.533 |
1081.066 |
|
(d) Short-term provisions |
310.006 |
252.679 |
274.919 |
|
Total Current Liabilities (4) |
1595.760 |
1657.190 |
1663.695 |
|
|
|
|
|
|
TOTAL |
5339.094 |
5142.392 |
4780.209 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
740.443 |
776.591 |
757.929 |
|
(ii) Intangible Assets |
5.600 |
5.600 |
5.600 |
|
(iii) Capital
work-in-progress |
2.155 |
14.958 |
12.261 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1589.161 |
1458.857 |
928.330 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
107.122 |
71.814 |
70.257 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2444.481 |
2327.820 |
1774.377 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
251.591 |
303.495 |
149.196 |
|
(c) Trade receivables |
496.327 |
621.416 |
471.335 |
|
(d) Cash and cash
equivalents |
273.202 |
52.560 |
828.342 |
|
(e) Short-term loans and advances |
1586.333 |
1702.235 |
1550.666 |
|
(f) Other current assets |
287.160 |
134.866 |
6.293 |
|
Total Current Assets |
2894.613 |
2814.572 |
3005.832 |
|
|
|
|
|
|
TOTAL |
5339.094 |
5142.392 |
4780.209 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3067.243 |
2722.037 |
2271.981 |
|
|
|
Other Income |
33.145 |
22.470 |
139.241 |
|
|
|
TOTAL (A) |
3100.388 |
2744.507 |
2411.222 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1198.383 |
1132.163 |
979.401 |
|
|
|
Purchase of Stock In Trade |
96.212 |
92.966 |
3.684 |
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
0.000 |
0.000 |
16.440 |
|
|
|
Employee benefits expenses |
207.694 |
162.011 |
159.633 |
|
|
|
Other Expenses |
753.387 |
601.056 |
487.528 |
|
|
|
Exceptional Items |
(96.269) |
6.728 |
(1.051) |
|
|
|
TOTAL (B) |
2159.407 |
1994.924 |
1645.635 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
940.981 |
749.583 |
765.587 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.779 |
98.005 |
70.651 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
887.202 |
651.578 |
694.936 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
81.421 |
65.410 |
69.276 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
805.781 |
586.168 |
625.660 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
229.533 |
194.647 |
186.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
576.248 |
391.521 |
439.044 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Charges |
0.104 |
0.277 |
0.465 |
|
|
TOTAL EARNINGS |
0.104 |
0.277 |
0.465 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
582.149 |
3.160 |
228.391 |
|
|
|
Capital Goods |
10.141 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
592.290 |
3.160 |
228.391 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
67.83 |
45.90 |
51.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
18.59
|
14.27 |
18.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
26.27
|
21.53 |
27.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.50
|
15.98 |
16.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.18 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.19
|
0.24 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.70 |
1.81 |
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 |
No |
|
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) |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Short-term
borrowings |
|
|
|
Loans and
advances from related parties |
|
|
|
from Directors |
37.695 |
186.654 |
|
from Related Parties |
139.077 |
19.976 |
|
|
|
|
|
TOTAL |
176.772 |
206.630 |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10310660 |
06/03/2013 * |
1,150,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF
INDIA,, DR. |
B72120223 |
|
* Date of charge modification |
||||||
REVIEW OF
OPERATION:-
During the year, income from operations has increased by 12.68%, i.e.
Rs. 3067.243 Millions from Rs. 2722.037 Millions as compared to the previous
Financial Year.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENTS
Print media is one of the oldest and basic
forms of mass communication and the contribution of print media in providing
information and transfer of knowledge is remarkable. Even after the advent of
electronic media, the print media has not lost its charm or relevance. Print
media has the advantage of making a longer impact on the minds of the reader,
with more in-depth reporting and analysis.
There are more than 80000 publications of
various kinds in various languages registered with the Registrar of Newspapers
of India, which functions under the Ministry of Information and Broadcasting.
With increase in advertising expenditures across media platforms, the print
media is expected to grow at 9-10% during 2011-2015.
The Company belongs to the Regional Print Media
Industry and which is a publisher of “SANDESH” a premier Gujarati daily
newspaper in Gujarat Region, to carry on the business of editing, printing and
publishing newspapers and periodicals. The Company started its first printing
facilities at Ahmedabad.
Late Shri Chimanbhai S. Patel acquired the
entire business from the original promoter in the year 1958, and had put his
efforts to strengthen the activities carried out by “SANDESH”. The editorial
policy of the Company has always been based on basic journalist values of
objectivity and has not been influenced by any external forces. Presently, Shri
Falgunbhai Patel, Chairman and Managing Director is running the entire business
affairs of the Company along with Shri Parthiv Patel, Managing Director and a
professional team of the Executives of the Company.
The Company had started its printing
facilities at Baroda during 1985-86, at Surat during 1989-90, at Rajkot during
1990-91, at Bhavnagar during 1998-99 and at Bhuj during 2010-11 to cater to the
semi urban and rural areas. The Company has now total six editions in the State
of Gujarat. The Company has its regional offices at Mumbai, Delhi, Kolkata,
Bangalore, Chennai and Pune, which have experienced staff and well equipped
communication facilities. The Company has a strong regional franchise, where it
enjoys strong readership loyalty.
The Company has successfully launched an
augmented reality app i.e. ‘Sandesh Smart’ which lets its readers access
multimedia contents like videos, slideshows, social media connect, polls,
interactive quizzes and much more by simply scanning the newspaper with their
Smartphone. The Company has become the first regional newspaper brand in India
to bring digital content through its newspaper with the launch of ‘Sandesh Smart’.
Besides the Company also publishes “Stree”, a
weekly magazine and also the periodical “Sandesh Pratyaksha Panchang” which
remained popular among the public. A weekly newspaper ‘Agro Sandesh’, specific
to the rural community of the State of Gujarat covering the farming, dairy and
co-operative sector was successfully launched and which is contributing
positively to the development of the farmers of the State of Gujarat and allied
agricultural industries.
The Company has successfully diversified into
electronic media under the brand name “Sandesh News”. This news channel in a
very short time has become immensely popular and has also won the awards.
Further, as a part of its out-of-home advertising activity, the Company has
sites at all the major commercial areas in Ahmedabad. The Company is also
successfully operating its real estate and finance businesses.
SEGMENT-WISE OR PRODUCT-WISE PERFOMANCE
I)
PUBLICATION:
This is the core business of the Company since
its inception. The Company had been able to maintain its business volumes
despite stiff competition in the Regional Print Media Industry. The revenue
from the publication division was Rs.
716.582 Millions during the Financial
Year as against Rs. 613.049 Millions
in previous Financial Year.
II)
FINANCE DIVISION:
The Company has been in the Financing business
and during the year, the segment revenue from Finance Division was Rs. 395.437 Millions during the Financial Year as against Rs.
423.876 Millions in the
previous year.
OUTLOOK, RISKS AND CONCERNS
The increase in population, literacy rate and
reach has led to increased circulation and readership of the newspapers in
India. The company is steadily increasing its geographical presence, which
helps improve its circulation and readership of its publications. The business
outlook for the Print Media Industry and the Company looks good. Both
readership and circulation of newspapers is growing in India
Newsprint prices are an important driver for
print earnings as they constitute approximately 40% of operating costs and
about 33% of revenues. Though international prices in USD terms have been
largely stable over past two years, newsprint cost for the print companies in
India were hardening due to an increase in domestic newsprint price and rupee
depreciation. Newsprint prices are unlikely to exhibit significant increase due
to declining demand from the developed countries. Newsprint price increase is
expected to be restricted to approximately 5%. However, the Company keeps close
watch on the development on the Newsprint front. The Company uses imported as
well as domestic newsprint and by judicious mix of them, tries to mitigate the
high cost impact on the operations. The newsprint price is cyclical and is
dependent on various factors.
The Company is continuously strengthening its
market positions, reinforcing its relationships with Agents, Advertisers and
providing high quality contents to its readers.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Machineries
· Electric Fittings
· Furniture
· Office Equipments
· Motor Vehicles
Intangible Assets
· Tenancy Right
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. 62.40 |
|
|
1 |
Rs. 102.53 |
|
Euro |
1 |
Rs. 85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.