MIRA
INFORM REPORT
|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
REAL IMAGE MEDIA TECHNOLOGIES PRIVATE LIMITED (w.e.f.20.04.2000) |
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|
|
|
Formerly Known
As : |
MEDIA ARTISTS PRIVATE LIMITED |
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Registered
Office : |
No.7B, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
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Date of Incorporation
: |
01.01.1986 |
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|
|
|
Com. Reg. No.: |
18-012536 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 173.817 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92490TN1986PTC012536 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHEM01218A |
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|
|
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PAN No.: [Permanent Account No.] |
AAACM2150N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is Media and Entertainment Industry. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5470000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The management has seen a better increase in its sales volume as wells
as net profitability during 2013. Financial and liquidity position appears to
be sound marked by decent networth during the year under review. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered 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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus on providing payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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 : |
No.7B, |
|
Tel. No.: |
91-44-42041505 |
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Fax No.: |
91-44-42060761 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 25.07.2013
|
Name : |
Mr. Veerappan Senthil Kumar |
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Designation : |
Whole-time Director |
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Address : |
16, First Street, Balaji Nagar, Royapettah, Chennai – 600014, Tamilnadu, India |
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Date of Birth/Age : |
07.11.1963 |
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Date of Appointment : |
25.02.1989 |
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PAN No.: |
AAHPS8822P |
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DIN No. : |
00320535 |
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Other Directorship
:
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Name : |
Mr. Jayendra Panchapakesan |
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Designation : |
Whole-time Director |
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Address : |
No.2A, Paduka Apartments, 9, First Cross Street CIT Colony, Chennai – 600004, Tamilnadu, India |
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Date of Birth/Age : |
21.03.1958 |
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Date of Appointment : |
28.04.2000 |
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PAN No.: |
AFVPP5428F |
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DIN No. : |
00320286 |
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Other Directorship
:
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Name : |
Tsukasa Ojima |
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Designation : |
Nominee director |
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Address : |
1-3-1-605, Moto Azabu, Minato-Ku, Tokyo, 1060046 |
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Date of Birth/Age : |
24.08.1963 |
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Date of Appointment : |
22.10.2013 |
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DIN No. : |
06649924 |
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Name : |
Mr. Vasu Raj Devan |
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Designation : |
Nominee Director |
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Address : |
40 Murrays Gate Road Flat 3A, Alwarpet, Chennai – 600018, Tamilnadu, India |
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Date of Birth/Age : |
19.08.1946 |
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Date of Appointment : |
17.07.2009 |
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DIN No. : |
01115565 |
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Other Directorship
:
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Name : |
Willie Long Chi Wong |
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Designation : |
Nominee Director |
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Address : |
G/F Park View Court, 196 NGA Tsin Wai Road, Kowloon Tong, 000000, Hong Kong |
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Date of Birth/Age : |
06.11.1960 |
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Date of Appointment : |
10.02.2011 |
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DIN No. : |
02989240 |
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Other Directorship
:
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Name : |
Melarkode Ganesan Parameswaran |
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Designation : |
Director |
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Address : |
62, 6th Floor, Technocrat CHS, A Building, Off Veer Savarkari Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
18.06.1955 |
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Date of Appointment : |
14.07.2011 |
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DIN No. : |
00792123 |
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Other Directorship
:
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KEY EXECUTIVES
|
Name : |
P Murali Krishna |
|
Designation : |
Secretary |
|
Address : |
T4, Abhinav Apartments, 94, Gaudiya Muth Road, Royapettah, Chennai –
600014, Tamilnadu, India |
|
Date of Birth/Age : |
01.11.1951 |
|
Qualification : |
|
|
Experience : |
|
|
Date of Appointment : |
16.02.2012 |
|
PAN No.: |
AAAPM5328B |
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|
|
|
Name : |
Mr. Arvind Ranganathan |
|
Designation : |
CEO |
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|
|
|
Name : |
Mr. Harsh Rohatgi |
|
Designation : |
President (Digital Cinema) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.07.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 25.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Nationalised or other banks |
13.00 |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
27.00 |
|
Bodies corporate |
25.00 |
|
Directors or relatives of Directors |
21.00 |
|
Other top fifty shareholders |
14.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Media and Entertainment Industry. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
|
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASVN Ramana Tower, 52 Venkatnarayana Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Subsidiary company:
|
Qube Cinema Inc. |
CAPITAL STRUCTURE
As on 25.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 165.000 Millions |
|
7,500,000 |
Preference Shares |
Rs. 10/- each |
Rs. 75.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 240.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,940,858 |
Equity Shares |
Rs.10/- each |
Rs. 99.409 Millions |
|
7,443,611 |
Preference Shares |
Rs. 10/- each |
Rs. 74.436 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 173.845
Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 165.000 Millions |
|
7,500,000 |
Preference Shares |
Rs. 10/- each |
Rs. 75.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 240.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,938,124 |
Equity Shares |
Rs.10/- each |
Rs. 99.381 Millions |
|
7,443,611 |
Preference Shares |
Rs. 10/- each |
Rs. 74.436 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 173.817
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 |
173.817 |
173.438 |
173.183 |
|
(b) Reserves & Surplus |
1193.246 |
1040.208 |
948.422 |
|
(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) |
1367.063 |
1213.646 |
1121.605 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
403.429 |
324.592 |
62.209 |
|
(b) Deferred tax liabilities (Net) |
14.126 |
10.110 |
5.657 |
|
(c) Other long term liabilities |
47.322 |
31.194 |
18.099 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
464.877 |
365.896 |
85.965 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
135.399 |
130.024 |
134.832 |
|
(b) Trade payables |
378.325 |
146.708 |
144.229 |
|
(c) Other current
liabilities |
261.146 |
167.573 |
123.953 |
|
(d) Short-term provisions |
7.433 |
5.564 |
32.161 |
|
Total Current Liabilities (4) |
782.303 |
449.869 |
435.175 |
|
|
|
|
|
|
TOTAL |
2614.243 |
2029.411 |
1642.745 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1095.184 |
852.322 |
652.266 |
|
(ii) Intangible Assets |
8.748 |
7.688 |
12.032 |
|
(iii) Capital
work-in-progress |
30.131 |
65.663 |
198.508 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.106 |
0.406 |
0.406 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
61.377 |
45.515 |
40.082 |
|
(e) Other Non-current assets |
25.460 |
18.373 |
0.018 |
|
Total Non-Current Assets |
1221.006 |
989.967 |
903.312 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
527.482 |
412.365 |
145.602 |
|
(c) Trade receivables |
560.593 |
396.933 |
347.759 |
|
(d) Cash and cash equivalents |
179.054 |
173.261 |
194.793 |
|
(e) Short-term loans and
advances |
114.542 |
54.722 |
42.584 |
|
(f) Other current assets |
11.566 |
2.163 |
8.695 |
|
Total Current Assets |
1393.237 |
1039.444 |
739.433 |
|
|
|
|
|
|
TOTAL |
2614.243 |
2029.411 |
1642.745 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
1446.000 |
1208.000 |
|
|
|
Other Income |
|
101.000 |
97.000 |
|
|
|
TOTAL |
2056.000 |
1547.000 |
1305.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1616.000 |
1232.000 |
1128.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE DEPRECIATION, INTEREST,
EXCHANGE GAIN/LOSS AND TAX |
440.000 |
315.000 |
273.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES/ DEPRECIATION |
232.000 |
171.000 |
96.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
208.000 |
144.000 |
177.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
69.000 |
48.000 |
62.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
139.000 |
96.000 |
115.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
379.560 |
|
|
|
|
|
Commission and Others |
27.787 |
25.579 |
|
|
|
TOTAL EARNINGS |
407.347 |
208.448 |
189.740 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded goods |
895.347 |
703.178 |
NA |
|
|
|
Capital goods |
289.073 |
93.801 |
NA |
|
|
TOTAL IMPORTS |
1184.420 |
796.979 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.19 |
4.59 |
12.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.76
|
6.21 |
8.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
9.96 |
14.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.05
|
7.33 |
12.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.12 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.39
|
0.37 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
2.31 |
1.70 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90288530 |
03/11/2005 |
45,000,000.00 |
BHARAT OVERSEAS BANK LIMITED |
CHENNAI MAIN BRANCH, CATHEDRAL ROAD, CHENNAI - 600086, TAMIL NADU, INDIA |
- |
|
2 |
90285608 |
20/12/2013 * |
1,017,000,000.00 |
INDIAN OVERSEAS BANK |
GEMINI CIRCLE BRANCH, NO.297, CATHEDRAL ROAD, CHENNAI - 600086, TAMIL NADU, INDIA |
B92743806 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans From other parties |
52.701 |
35.696 |
|
Total |
52.701 |
35.696 |
|
NOTE LONG TERM
BORROWINGS Details of Term Loans from Other Parties – Unsecured The Company has entered into an agreement with one of its suppliers for purchase of D cinema Projector . The supplier has extended a Supplier's Credit Facility in foreign currency through Dexia Bank, Belgium. The Company has not defaulted in the repayment of dues to
Other Parties. |
||
CORPORATE INFORMATION
The Company is a leader in the digital cinema enablement and service businesses. It has over 25 years of expertise in digital technology and has significant presence in the AV post production/ broadcast and digital cinema domains. RIMT is a pioneer across the AV digitization value chain and is the only Indian company owning DCI compliant server technology for digital cinema. RIMT pioneered digital cinema through its Qube suite of end-to-end digital cinema solutions. RIMT is the leading digital cinema roll-out sponsor in India driving the digitization process across the cinema value chain including digital theater roll-out, content mastering, managed services and in-theater advertising. It has a globally compatible inter-operable platform and has successfully rolled out its DCI/ non-DCI systems across conventional as well as 3D cinema screens.
BUSINESS DURING THE
YEAR
The year saw a 33% growth in Operating Revenue and a 40% increase in the operating profits on the back of significant growth in both the Sales and Services segment of Digital Cinema.
Overall, it was a robust year for all lines of business despite being marked by heightened competitive activity. Of considerable satisfaction has been the growth of the QCN advertising division that grew by over 150% in revenue terms.
PBDITA, at 21.40%, is the highest achieved thus far by the company in the past 5 years and also represents a margin expansion over last year despite higher costs and competitive pressures on margins indicative of improved earnings yields from properties as anticipated.
INDIA
The Company’s screen base on the roll-out models grew to 2731 as at March 31, 2013, with 1999 under the Media Model [Previous Year- 1634] and 732 under the Pay Per Use Model [Previous Year- 653], notwithstanding that the Company decided to terminate over 50+ installations on account of irrational expectations of certain multiplex screen owners. The growth in screen count achieved is after accounting for these discontinued screens, and in that light a more creditable performance.
The Company further consolidated its position in the Southern markets and also accelerated direct roll-out into the other geographies, specifically the North and the West, backed by a strong strategic partnership for this purpose.
The year saw a 36 % increase in VPF and Mastering revenues indicative of improved earnings yields from properties on account of higher movie churn resulting from shorter runs. This had been an anticipated outcome with digital penetration growth which has facilitated wider releases due to lower logistics and print costs of digital prints.
The market’s need for DCI systems continues to be on the rise and the Company has geared itself appropriately, both from a business model and financial backing viewpoint to capitalize optimally on this opportunity, without undue compromise on long term profitability.
Competitive pressures had heightened during the year, and they expect the trend to continue given the limited number of screens available for first conversion. The company however has been following a steady policy on expected returns with financially unattractive opportunities being forfeited.
To leverage the DCI conversion momentum optimally, The Company had commenced the VPF agreement sign up with the Hollywood Studios that it will be able to benefit from till the end of calendar 2018 as per the current terms.
OVERSEAS :
Apart from the steady additions in the multiple markets the Company is present in, the Company also enhanced its presence in the China market. The export sales saw a growth of 107% over the previous year.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Counter Guarantees Issued to Banks |
8.072 |
14.425 |
|
Other money for which the company is contingently liable |
|
|
|
Disputed Central Excise Demand |
23.716 |
23.716 |
|
Service Tax Demand |
29.289 |
0.000 |
|
Value Added Tax Demand (Rs.1.041 Millions Paid Under Protest) |
8.346 |
0.000 |
|
Income Tax |
0.667 |
0.667 |
FIXED ASSETS
v
Tangible
Assets
Buildings
Plant
and Equipment
Computers
Office
Equipment
Furniture
and Fixtures
Vehicles
v
Intangible Assets
Computer
software
PRESS RELEASE
REAL IMAGE MEDIA TECHNOLOGIES INSTALLS 4K SYSTEMS FOR NOVELTY TALKIES,
ALIGANJ
Published on Mon, 2013-09-30 21:20
Qube Cinema converts first single screen in North India to 4K digital.
Real Image Media Technologies Private Limited is pleased to announce the successful installation of Qube Cinema 4K 3D systems at Lucknow’s Novelty Talkies, the first single screen in North India. Novelty Talkies is the premium single screen in all of Uttar Pradesh, offering audiences in the area a quality movie-viewing experience, with large screens and digital surround sound.
Novelty Talkies now joins 3258 Qube Theatres in India in providing audiences a world-class digital cinema experience. “Novelty Talkies chose to work with Qube Cinema because of its quality equipment and excellent support and service across all parts of India. Qube has a strong presence in all states and an experienced and reliable team to work with,” said Ajay Gupta, Owner, Novelty Talkies.
A key destination for cinema-lovers in Lucknow, Novelty Talkies is at the forefront of technological innovation amongst all single-screens in north India. The installation of a Barco 32 B 4K system (world’s largest projector) with Qube XP-I IMB is a step in that direction, to continue to provide the best cinema experience in that market.
From an audience perspective, 4K offers improved quality: unprecedented levels of resolution and contrast and, ultimately, a much more dynamic, engaging and immersive entertainment experience in a movie theatre. Top of the line Barco projectors guarantee razor-sharp images combined with consistent uniformity, rich contrast and vibrant, accurate colors. High frame rate (HFR) technology projects movies at a frame rate that is twice what’s seen in today’s cinemas. As a result, viewers see less flicker, motion blur and stuttered movement. The improvements to 3D movies are dramatic - creating ultra-realistic movie going experiences.
Both 4K and HFR are made possible by the IMB (Integrated Media block) installed in the projector. With an IMB, the content decryption takes place inside the projector making piracy tougher. The new link between server and projector / IMB is not only more secure and reliable, but also faster.
“It is a privilege for us to partner with Novelty Talkies on this new installation. We are very happy to provide a fantastic movie-viewing experience for Lucknow audiences with the installation of the new projection system. We hope to continue our association with Novelty Talkies, one of the premium cinemas in North India, for years to come,” said Arvind Ranganathan, CEO, Real Image Media Technologies.
“We have a significant presence on this market and we are honoured to build this tremendous association with Novelty Talkies for whom we have the utmost respect as a high quality group. We are really proud that Qube Cinema converted the first single screen in North India to 4K digital," said Abel Garamhegyi, Managing Director at Barco India.
REAL IMAGE MEDIA TECHNOLOGIES AND BARCO FURTHER STRENGTHEN PARTNERSHIP
IN INDIA
Published on Fri,
2013-04-19 06:08
Deployment of over 3,000 DCI-certified projectors scheduled over the next three years
Real Image Media Technologies (RIMT) has recently entered into a strategic partnership with Barco in India. The first 700 units are scheduled for installation during the first year, with deliveries starting in May 2013. Over the next three years, 3,000 DCI-compliant Barco projectors are expected to be deployed in theaters across India.
Established in 1986, RIMT is a pioneer in digital cinema technology globally, with its Qube suite of end to end digital cinema solutions. RIMT is one of the leading digital cinema deployment entities and led the transition from analogue to digital in India. RIMT chose to partner with Barco on account of its market leadership in digital cinema projection. The new understanding further strengthens that partnership.
Range of 2K series
Through the agreement, Barco’s range of 2K digital cinema projectors (the ultra bright DP2K) for any screen size becomes available for the Indian market. Equipped with a Qube integrated media block® and featuring Barco’s unique modular design, these projectors are set to bring the digital revolution to cinemas all over India. “Together with RIMT, we’re very excited to continue playing a leading role in bringing Digital Cinema to India, a market with such a rich cinema history and tradition,” comments Tim Sinnaeve, Market Director Digital Cinema at Barco.
Logical choice
“We have been using Barco projectors for the last few years and we are very happy with the quality of their products and the support provided by Barco India. On top of that, most of our service team is Barco-certified for installation and maintenance. So it seemed only logical to reaffirm our trust in them,” said Mr. Arvind Ranganathan, CEO of RIMT. Wim Buyens, Senior Vice President of Entertainment at Barco is happy with the next phase in our partnership: “We’re very proud to have a strong partner like RIMT at our side in the ever-promising Indian entertainment market. I’m convinced that both companies will reap a lot of benefits from this enhanced collaboration.”
Committed to success
Mr. Arvind Ranganathan believes that the close collaboration between both industry heavyweights will serve his company’s long-term goals: “At Real Image, we have always been determined to bring only the best and the latest media technology to the Indian market. Through this partnership with Barco, we are all set to continue on that successful path for the coming years.”
Mr. Abel Garamhegyi, Managing Director of Barco India, is enthusiastic as well: “For Barco, which is already the leading digital projector brand in India, the partnership is an ideal opportunity to further strengthen its foothold in India’s booming digital cinema market. “
DOLBY AND REAL IMAGE PLAN TO SET UP MORE THAN 50 DOLBY ATMOS SCREENS
Mumbai, September 16,
2013
Mumbai, September 16, 2013—Dolby Laboratories, Inc. (NYSE: DLB) and Real Image Media Technologies Private Limited, one of India’s leading digital cinema integrator and technology providers, today announced that Real Image Media Technologies has agreed to purchase a minimum of 50 Dolby® Atmos™ cinema processors and intends to install them within the South Asia region. Dolby Atmos has quickly become the preferred choice for next-generation cinema sound among major studios, directors, sound designers, exhibitors, and audiences around the world.
“Dolby has always been synonymous with great cinema sound, and Dolby Atmos is the most significant innovation in cinematic sound to date. It creates a virtual world of sound creating a superior environment for viewing films on the big screen,” stated Mr. Arvind Ranganathan, CEO, Real Image Media Technologies.
He added, “We at Real Image have always believed in bringing the best cinema technologies to our customers, by working closely with pioneers and best-in-class companies. Now, Dolby Atmos can provide greater definition and dimension to movies as sound moves around the auditorium with precision placement to match the action on and off the screen. We are investing into Dolby Atmos in our end-to-end–chain, from our mixing studio to our digital cinema distribution and installation business. We hope this will provide an ideal platform across the subcontinent for us to create a complete ecosystem that benefits content creators, exhibitors, and audiences.”
New sound format Dolby Atmos has been embraced by filmmakers and leading exhibitors worldwide, including in India, and more than 70 Dolby Atmos titles have been announced worldwide.
The companies also announced that Real Image will be purchasing more than 200 additional Dolby Atmos Cinema Processor CP850 units to be installed across several leading cinema screens across South Asia, expanding the footprint of Dolby’s next-generation audio processor throughout India. These Dolby CP850 installations will enable future Dolby Atmos capabilities for screens not currently equipped with Dolby Atmos.
“We are very excited to work with Real Image to install more than 50 Dolby Atmos equipped screens for cinema lovers in South Asia. Once these screens are installed, nearly 100 Dolby Atmos screens will have been installed in India alone, expanding our ability to deliver audiences across the region the most lifelike and realistic cinema sound experience possible,” said Mr. Michael Bergeron, Senior Vice President, Worldwide Sales and Field Operations, Dolby Laboratories.
He added: “Currently, Dolby Atmos has been adopted in India by leading exhibitors including SPI Cinemas, PVR Cinemas, Inox Movies, Prasads, and Mayajaal. The interest in Dolby Atmos shows that the industry sees real value in what next-generation sound can bring to their movies. In addition, the diversity of Dolby Atmos titles shows that the creative community is unlocking the versatility of the platform. We can’t wait to see how directors and their sound teams make upcoming titles even more thrilling, emotive, and heartfelt.”
About Dolby Atmos
Dolby Laboratories is equipping the cinema world with its new Dolby Atmos technology. Dolby Atmos unleashes the potential of sound in storytelling by providing sound experts the creative freedom to easily place or move specific sounds anywhere in the movie theatre, not just where there happen to be speakers. The result is what moviegoers have described as the most engaging and lifelike cinema sound experience ever.
Introduced in April 2012, Dolby Atmos has been embraced by all the major Hollywood studios, six Academy Award® winning directors, and 10 Academy Award winning sound mixers, among others. More than 250 Dolby Atmos screens have been installed or committed to in 30 countries with over 85 exhibitor partners. More than 70 films from nine different countries—representing a broad range of genres, from action thrillers and animated features to comedy and horror—have been or are scheduled to be released with Dolby Atmos sound since the first film debuted in June 2012. Dolby Atmos has received technical achievement awards from both the Hollywood Post Alliance and the Cinema Audio Society.
About Real Image
Media Technologies Private Limited
A pioneer in film and broadcast technology in India since 1986, Real Image is now a renowned name in the global media technology arena, and a serious player in the DCI standards compliant digital cinema market. Recognized for its innovative products, Real Image has put India firmly on the global map of media technology. From introducing India to revolutions in digital cinema sound, computer-based editing and central broadcast news systems, to their own, indigenously developed Qube Digital Cinema system, the company has been responsible for major innovations in the way people around the world work with and enjoy picture and sound at the cinema, in 2D or 3D, 24 fps or High Frame Rate, 2K or 4K.
About Dolby
Laboratories
Dolby Laboratories (NYSE: DLB) creates audio, video, and voice technologies that transform entertainment and communications in mobile devices, at the cinema, at home, and at work. For nearly 50 years, sight and sound experiences have become more vibrant, clear, and meaningful .
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.62.20 |
|
|
1 |
Rs.103.12 |
|
Euro |
1 |
Rs.84.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
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 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.