MIRA INFORM REPORT
|
Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
AAJ KA ANAND PAPERS LIMITED |
|
|
|
|
Registered
Office : |
365/6, Shivaji Nagar, Aaj Ka Anand Building, Pune – 411005,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-034813 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 88.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22110MH1993PLC034813 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA01849B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA5435D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Publisher and Distributor of Newspaper and Magazine. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3720000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track
record. The company possesses an acceptable financial profile marked by adequate
financial profile marked by adequate networth base along with stretched
working capital intensive operations and deterioration in its cash reserves. Management has reported an improvement in its advertisement revenues
and circulation of its newspapers along with the increase in its net
profitability during 2013. The ratings also take into consideration the relatively small-size of
operations. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of experience and established track of the promoters in the
publication business, the subject 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB-” (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
25.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
25.03.2014 |
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 : |
Ms. Sushma |
|
Designation : |
Accountant |
|
Contact No.: |
91-20-25534888 |
|
Date : |
15.05.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
365/6, Shivaji Nagar, Aaj Ka Anand Building, Pune – 411005,
Maharashtra, India |
|
Tel. No.: |
91-20-25534888/ 25538835 |
|
Mobile No.: |
91-9822024795 (Mr. Anand Shyam Agarwal) |
|
Fax No.: |
91-20-25533224 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
40000 sq mtr |
|
Location : |
Owned |
|
|
|
|
Bureau Office : |
Located at: · Mumbai · Nashik · Indore · New Delhi · Ahmedabad · Lucknow |
DIRECTORS
As on 22.06.2013
|
Name : |
Mr. Anand Shyam Agarwal |
|
Designation : |
Director |
|
Address : |
365, Shivaji Nagar, Aaj Ka Anand Building, Pune – 411005, Maharashtra,
India |
|
Date of Birth/Age : |
11.12.1971 |
|
Qualification : |
Arts Graduate |
|
Date of Appointment : |
14.12.1993 |
|
PAN No.: |
AATPA8343H |
|
DIN No.: |
00028902 |
|
|
|
|
Name : |
Mr. Shyam Gyanichand Agarwal |
|
Designation : |
Director |
|
Address : |
365, Shivaji Nagar, Aaj Ka Anand Building, Pune – 411005, Maharashtra,
India |
|
Date of Birth/Age : |
10.10.1945 |
|
Qualification : |
Inter Science |
|
Date of Appointment : |
14.12.1993 |
|
PAN No.: |
AATPA8345B |
|
DIN No.: |
00029085 |
|
|
|
|
Name : |
Mr. Navin Shyam Agarwal |
|
Designation : |
Director |
|
Address : |
365, Shivaji Nagar, Aaj Ka Anand Building, Pune – 411005, Maharashtra,
India |
|
Date of Birth/Age : |
22.10.1979 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
15.10.1997 |
|
PAN No.: |
AATPA8344A |
|
DIN No.: |
00029060 |
|
|
|
|
Name : |
Mrs. Ritu Anand Agarwal |
|
Designation : |
Director |
|
Address : |
365, Shivaji Nagar, Aaj Ka Anand Building, Pune – 411005, Maharashtra,
India |
|
Date of Birth/Age : |
16.11.1975 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
15.10.1997 |
|
PAN No.: |
ACWPA6853B |
|
DIN No.: |
01576537 |
|
|
|
|
Name : |
Mrs. Vidya Shyam Agarwal |
|
Designation : |
Director |
|
Address : |
365, Shivaji Nagar, Aaj Ka Anand Building, Pune – 411005, Maharashtra,
India |
|
Date of Birth/Age : |
29.05.1952 |
|
Qualification : |
Pre Matriculation |
|
Date of Appointment : |
15.10.1997 |
|
PAN No.: |
ABZPA4801F |
|
DIN No.: |
01576559 |
KEY EXECUTIVES
|
Name : |
Ms. Sushma |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.06.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Shyam Gyanichand Agarwal |
231545 |
26.31 |
|
Anand Shyam Agarwal |
199155 |
22.63 |
|
Navin Shyam Agarwal |
156650 |
17.80 |
|
Ritu Anand Agarwal |
132100 |
15.01 |
|
Vidya Shaym Agarwal |
158550 |
18.02 |
|
Rakesh B Gupta |
1000 |
0.11 |
|
Kiran Rakesh Gupta |
1000 |
0.11 |
|
Total |
880000 |
100.00 |
As on 22.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.77 |
|
Other top fifty shareholders |
0.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publisher and Distributor of Newspaper and Magazine. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Small Industries Development Bank of India, 11-13, "Atlanta", 1st Floor, 209, V. K. Shah Marg, Nariman Point, Mumbai - 400021, Maharashtra, India · Bank of Baroda, Sinhgad Tech Edu Society, CTS No 19, Plot No 15, Erandwane Khillarepath, Pune - 411004, Maharashtra, India · Axis Bank Limited, Corporate Banking Branch, 214/215, City Mall, Ganesh Khind Road, Pune - 411007, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
NOTE LONG TERM
BORROWINGS Term Loan of Rs. 137.800 Millions from SBI are secured by
way of Hypothecation of the Plant and Machinery and other Fixed Assets of Printing
press at Hinjewadi and Collaterlly secured against mortgrage of Land
belonging to Promoters of the Company. (a) (ii) Term Loan of Rs. 14.000
Millions from Axis Bank are secured by equitable mortgrage of Land and
Building at Shivaji Nagar, Hypothecation of Equipments and receivables and
personal guarantee of Directors. Repayable in 60 Installments starting from
April 2012.(b) (i) Corporate Loan of Rs. 100.000 Millions from Axis Bank are
secured by way of Equitable Mortgage of Land and Building of Shivaji Nagar, 2nd
charge on entire Current Assets and personal guarantee of all the Directors |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Abhay A. Shasti and Associates Chartered Accountants |
|
Address : |
Flat No. 201, 2nd Floor Plot No. 5 , Lotus Residency, Opposite to Lane to Joshi Railway Museum, Near Maruti Service Centre Kothrud, Pune - 411038, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAUFA9809P |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
880,000 |
Equity Shares |
Rs. 100/- each |
Rs. 88.000
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 |
88.000 |
84.000 |
80.000 |
|
(b) Reserves & Surplus |
843.152 |
730.928 |
291.128 |
|
(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) |
931.152 |
814.928 |
371.128 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
360.738 |
219.226 |
84.120 |
|
(b) Deferred Tax Liabilities (Net) |
6.983 |
5.798 |
2.529 |
|
(c) Other Long Term
Liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
367.721 |
225.024 |
86.649 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
805.179 |
624.376 |
476.199 |
|
(b) Trade
Payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
Current Liabilities |
70.130 |
70.579 |
16.211 |
|
(d) Short-term
Provisions |
38.337 |
18.451 |
25.792 |
|
Total Current
Liabilities (4) |
913.646 |
713.406 |
518.202 |
|
|
|
|
|
|
TOTAL |
2212.519 |
1753.358 |
975.979 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
767.979 |
782.182 |
237.746 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital Work-in-Progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under Development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred Tax Assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current Assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
767.979 |
782.182 |
237.746 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
297.687 |
223.540 |
126.226 |
|
(c) Trade
Receivables |
867.566 |
648.850 |
564.003 |
|
(d) Cash
and Cash Equivalents |
3.831 |
8.964 |
4.244 |
|
(e) Short-term
Loans and Advances |
275.092 |
89.389 |
43.416 |
|
(f) Other
Current Assets |
0.364 |
0.433 |
0.344 |
|
Total
Current Assets |
1444.540 |
971.176 |
738.233 |
|
|
|
|
|
|
TOTAL |
2212.519 |
1753.358 |
975.979 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2144.153 |
1564.208 |
1212.192 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
2144.153 |
1564.208 |
1212.192 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1673.419 |
1272.925 |
988.379 |
|
|
|
Purchases of Stock-in-Trade |
4.415 |
4.335 |
3.293 |
|
|
|
Employees benefits expense |
47.063 |
22.250 |
17.440 |
|
|
|
Other expenses |
119.519 |
55.770 |
45.331 |
|
|
|
TOTAL (B) |
1844.416 |
1355.280 |
1054.443 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
299.737 |
208.928 |
157.749 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
134.048 |
103.262 |
68.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
165.689 |
105.666 |
89.346 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.770 |
7.498 |
7.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
149.919 |
98.168 |
81.516 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
46.185 |
26.270 |
25.573 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
103.734 |
71.898 |
55.943 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
120.00 |
90.00 |
72.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.84 |
4.60 |
4.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.99 |
6.28 |
6.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.78 |
5.60 |
8.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.12 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.25 |
1.04 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.36 |
1.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
80.000 |
84.000 |
88.000 |
|
Reserves & Surplus |
291.128 |
730.928 |
843.152 |
|
Net
worth |
371.128 |
814.928 |
931.152 |
|
|
|
|
|
|
long-term borrowings |
84.120 |
219.226 |
360.738 |
|
Short term borrowings |
476.199 |
624.376 |
805.179 |
|
Total
borrowings |
560.319 |
843.602 |
1165.917 |
|
Debt/Equity
ratio |
1.510 |
1.035 |
1.252 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1212.192 |
1564.208 |
2144.153 |
|
|
|
29.040 |
37.076 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1212.192 |
1564.208 |
2144.153 |
|
Profit |
55.943 |
71.898 |
103.734 |
|
|
4.62% |
4.60% |
4.84% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
No |
|
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 |
Yes |
CURRENT MATURITIES OF
LONG TERM DEBTS: 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 |
10485959 |
25/03/2014 |
23,800,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
11-13
,"ATLANTA", 1ST FLOOR, 209, V. K. SHAH MAR |
C00859132 |
|
2 |
10446918 |
03/09/2013 |
130,000,000.00 |
STATE BANK OF INDIA INDUSTRIAL FIANCE BRANCH |
2ND FLOOR,TARA
CHAMBERS, OLD PUNE MUMBAI HIGHWAY, |
B83981027 |
|
3 |
10430171 |
05/06/2013 |
50,000,000.00 |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
TARA CHAMBERS 2ND
FLOOR NEAR MARIAAI POLICECHOWKY, |
B76745884 |
|
4 |
10350650 |
03/11/2012 * |
100,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING
BRANCH,GROUND FLOOR,AXIS, HOUSE |
B63621940 |
|
5 |
10288685 |
17/04/2012 * |
150,000,000.00 |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
TARA CHAMBERS 2ND
FLOOR,NEAR MARIAAI POLICECHOWKY, |
B38617833 |
|
6 |
10077977 |
10/01/2014 * |
1,070,000,000.00 |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
TARA CHAMBERS 2ND
FLOOR NEAR MARIAAI POLICECHOWKY, |
B95341681 |
|
7 |
10066389 |
06/02/2013 * |
950,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, 214/215, CITY MALL, GANESH KHIND ROAD, PUNE, MAHARASHTRA - 411007, INDIA |
B71691562 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
157.638 |
48.258 |
|
Total |
157.638 |
48.258 |
CORPORATE OVERVIEW:
Subject is a Leading Publishing House publishing Dailies in Regional Language since last 41 years. The company publishes Hindi Daily 'Aaj Ka Anand' and Marathi Daily ' Sandhyanand' and English Daily Life 365. Aaj Ka Anand is the only Hindi Daily news paper published from the whole of Western Maharashtra. All the dailies have its presence in almost all cities in Maharashtra.
OPERATIONS:
Despite the uncertainty and challenging economic conditions, the company was able to achieve Profit Before Taxes(PBT) of around Rs. 150.000 Millions compared with Rs. 98.200 Millions thereby achieving an increase of 52.72%. The Profit After Taxes (PAT) for the year was 103.700 Millions compared with Rs. 71.900 Millions there by achieving increase of 44.28%.
For the year ended on 3st March, 2013 circulation sales were up by 34% to Rs.1034.600 Millions and Advertising sales by 42% to Rs.1086.300 Millions compared with previous Financial Year.
Downturn of Indian economy has affected the hotel business of the company. There was a marginal decrease in sales of Hotel Division compare to previous financial year. For the year ended 31st March, 2013 revenue from the operation of the hotel division was Rs.16.700 Millions compare to 16.800 Millions of financial year 11-12.
Despite marginal decrease in the top line business of the hotel division, the management was successful in reducing the loss after depreciation to substantial extent by limiting cost and expenses.
The management is optimistic that the occupancy rate shall rise to new level in the current financial year.
LIFE 365 a unique daily from Aaj Ka Anand Group was launched in the Previous Year and successfully completed its one year of operation on 24th April 2013. Response to new English daily is very encouraging. This daily newspaper is aiming at promoting positive values in personal and public life.
The company was able to solidly consolidate its position in the media business thereby getting impetus to its new English daily LIFE 365. Consolidation has helped the company to get out from the image of Regional media to a National media
FUTURE OUTLOOK
Management continues to focus on both Circulation and Advertising sales by adopting aggressive marketing strategies in the current financial year.
The company is exploring the possibilities to enter into new geographical locations to tap the growing business to make optimum use of newly installed huge ultra-modern printing facilities at Hinjewadi, Pune. The company is also consolidating existing operations by value addition in the product portfolio, better utilization of existing capacities and better network of marketing.
The company is focusing more on corporate business in the hotel division to improve top line and bottom line of that business. With the improvement in the growth of Indian economy the company expects much better in financial year 13-14 compare to financial year 12-13 in both top line and bottom line.
They at AAJ KA ANAND continue to focus on generating sustainable value for their customers and stakeholders, they are confident that company will do well in a challenging environment.
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor vehicles
· Office Equipment
· Computer Equipment’s
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.59.47 |
|
|
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.