MIRA INFORM REPORT

Report Date :

03.01.2015

IDENTIFICATION DETAILS

Name :	SCRABBLE ENTERTAINMENT LIMITED

Registered Office :	Plot No A-20, Cross Road B, MIDC, Andheri (East), Mumbai – 400093, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	01.02.2008

Com. Reg. No.:	11 - 178456

Capital Investment / Paid-up Capital :	Rs.47.683 Millions

CIN No.: [Company Identification No.]	U92190MH2008PLC178456

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	MUMS59437A

PAN No.: [Permanent Account No.]	AALCS6153Q

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Providing digital cinema services.

No. of Employees :	Information declined by the 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 1690000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. There seems a sharp dip in the profit of the company during FY 2014 however net worth of the company is satisfactory. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term loans = BBB
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	January 2014.

Rating Agency Name	ICRA
Rating	Long term loans = A2
Rating Explanation	Strong degree of safety. It carry very high credit risk.
Date	January 2014.

RBI DEFAULTER’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTER’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Samir
Designation :	Company Secretary
Contact No.:	91-22-40305060
Date :	31.12.2014

LOCATIONS

Registered Office :	Plot No A-20, Cross Road B, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-40828000 / 67119700
Fax No.:	91-22-40828049 / 67119777
E-Mail :	ranjit@scrabbleentertainment.com anjali.kulkarni@ufomoviez.com sameer.chavan@ufomoviez.com chirag.desai@scrabbleentertainment.com rajesh.varma@scrabbleentertainment.com info@scrabbleentertainment.com
Website :	http://www.scrabbleentertainment.com

Head Office :	215-218, 2nd Floor, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-40305060

DIRECTORS

As on 03.09.2014

Name :

Mr.Sushil Kumar Agrawal

Designation :

Director

Address :

B-401, 4^th Floor, Satguru Complex, Phase – II, Filmcity Road, Goregaon (East), Mumbai – 400063, Maharashtra, India

Date of Birth/Age :

15.09.1964

Date of Appointment :

29.09.2011

DIN No. :

00003163

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65993DL1997PTC086558	JAYKUM INVESTMENTS PRIVATE LIMITED	Director	28/09/1998	28/09/1998	25/04/2007	Active	NO
2	U67120DL2001PLC112424	SBEC STOCKHOLDING AND INVESTMENT LIMITED	Director	16/09/2001	16/09/2001	25/04/2007	Active	NO
3	U63012MH1999PTC121099	MODAL CONTAINER SERVICES PRIVATE LIMITED	Additional director	30/09/2009	30/09/2009	15/12/2009	Active	NO
4	U63000MH1999PTC121100	TREND CONTAINER SERVICES PRIVATE LIMITED	Additional director	30/09/2009	30/09/2009	15/12/2009	Active	NO
5	U74899DL2005PTC140965	UFO SOFTWARE TECHNOLOGIES PRIVATE LIMITED	Director	17/08/2011	29/09/2010	-	Active	NO
6	U92120TN2008PTC068443	SOUTHERN DIGITAL SCREENZ INDIA PRIVATE LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
7	U92190MH2008PLC178456	SCRABBLE ENTERTAINMENT LIMITED	Director	29/09/2011	21/09/2011	-	Active	NO
8	U92490DL2007PTC159649	V N Films Private limited	Director	26/09/2012	19/04/2012	04/04/2014	Active	NO
9	U74999MH2011PLC213170	SCRABBLE DIGITAL LIMITED	Director	30/09/2013	04/06/2013	-	Active	NO
10	U74120MH2013PLC244220	MUKTA V N FILMS LIMITED	Director	10/06/2013	10/06/2013	-	Active	NO

Name :

Mr.Kapil Kumar Agarwal

Designation :

Director

Address :

Flat No. 601, 6^th Floor, Pecific Hights, Sharely Rajan Road, off Carter Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

14.10.1960

Date of Appointment :

23.03.2011

DIN No. :

00024378

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72900DL2003PLC119786	ENCORP E-SERVICE LIMITED	Director	07/04/2003	07/04/2003	11/01/2008	Active	NO
2	U55101DL2005PTC132738	MAGPIE RESORTS PRIVATE LIMITED	Director	07/02/2005	07/02/2005	05/11/2007	Active	NO
3	U92120DL2005PLC135845	UFO MOVIEZ LIMITED	Nominee director	22/12/2006	05/05/2005	-	Amalgamated	NO
4	U22120DL2004PLC164728	UFO MOVIEZ INDIA LIMITED	Managing director	01/03/2014	13/05/2005	-	Active	NO
5	U72900MH2005PTC154979	MAC SOLUTIONS PRIVATE LIMITED	Director	21/07/2005	21/07/2005	12/08/2005	Active	NO
6	U74899DL2005PTC140965	UFO SOFTWARE TECHNOLOGIES PRIVATE LIMITED	Director	20/09/2005	20/09/2005	29/09/2010	Active	NO
7	U74999DL2007PLC158296	Apollo Logisolutions Limited	Additional director	03/03/2007	03/03/2007	-	Amalgamated	NO
8	U63012MH1999PTC121099	MODAL CONTAINER SERVICES PRIVATE LIMITED	Director	29/09/2008	19/07/2007	14/08/2009	Active	NO
9	U63000MH1999PTC121100	TREND CONTAINER SERVICES PRIVATE LIMITED	Director	29/09/2008	19/07/2007	14/08/2009	Active	NO
10	U63020DL1989PLC174286	APOLLO LOGISOLUTIONS LIMITED	Director	30/09/2008	19/07/2007	01/02/2011	Active	NO
11	U92190MH2008PLC178456	SCRABBLE ENTERTAINMENT LIMITED	Director	23/03/2011	23/03/2011	-	Active	NO

Name :

Mr.Rajesh Bhagwati Mishra

Designation :

Director

Address :

A-704, Nestle, 4^th Cross Lane, Lokhandwala Complex, Andheri, Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

11.02.1966

Date of Appointment :

21.09.2011

DIN No. :

00103157

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51901MH2006PTC158724	MAP DISTRIBUTORS PRIVATE LIMITED	Director	06/01/2006	06/01/2006	-	Strike off	NO
2	U92490DL2007PTC159649	V N Films Private limited	Director	21/12/2009	21/12/2009	04/04/2014	Active	NO
3	U92120TN2008PTC068443	SOUTHERN DIGITAL SCREENZ INDIA PRIVATE LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
4	U70102MH2011PTC222000	Devenir Constructions Private Limited	Director	14/09/2011	14/09/2011	22/02/2012	Strike off	NO
5	U92190MH2008PLC178456	SCRABBLE ENTERTAINMENT LIMITED	Director	29/09/2011	21/09/2011	-	Active	NO
6	U74120MH2013PLC244220	MUKTA V N FILMS LIMITED	Director	10/06/2013	10/06/2013	-	Active	NO

Name :

Mr.Sunil Shamrao Patil

Designation :

Whole-time director

Address :

134/4/8, Ashoknagar, Chaturshringi, Pune – 411007, Maharashtra, India

Date of Birth/Age :

28.05.1965

Qualification :

MD in Radio Diagnosis

Experience :

15 Years

Date of Appointment :

01.04.2012

DIN No. :

00350283

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45202PN1997PTC106403	NALANDA SHELTER PRIVATE LIMITED	Director	10/12/2004	10/12/2004	28/02/2014	Active	NO
2	U92100MH2005PTC152499	ARSHITA ENTERTAINMENT PRIVATE LIMITED	Director	07/04/2005	07/04/2005	-	Active	NO
3	U45200MH2005PTC157377	FLAGSHIP INFRASTRUCTURE PRIVATE LIMITED	Director	18/11/2005	18/11/2005	10/09/2013	Active	NO
4	U92100MH2007PTC169777	ARSHITA CINEMA PRIVATE LIMITED	Director	09/04/2007	09/04/2007	-	Active	NO
5	U92120MH2007PTC170747	ARSHITA EXHIBITION PRIVATE LIMITED	Director	10/05/2007	10/05/2007	-	Active	NO
6	U45202PN1997PTC106195	KANGAROO SHELTER PRIVATE LIMITED	Director	28/08/2008	10/10/2007	-	Active	NO
7	U92190MH2008PLC178456	SCRABBLE ENTERTAINMENT LIMITED	Whole-time director	01/04/2012	01/02/2008	-	Active	NO
8	U72200MH2006PLC161881	VALUABLE TECHNOLOGIES LIMITED	Director	30/10/2009	25/12/2008	-	Active	NO
9	U74900MH2010PTC203966	CINE GRAND PRIVATE LIMITED	Director	09/06/2010	09/06/2010	05/01/2011	Active	NO
10	U74999MH2011PTC224156	ZEUS ENTERTAINMENT PRIVATE LIMITED	Director	21/11/2011	21/11/2011	-	Active	NO
11	U45201PN2005PTC020888	FLAGSHIP DEVELOPERS PRIVATE LIMITED	Director	28/12/2011	23/12/2011	-	Active	NO
12	U72200PN1999PTC144498	NEOPRO TECHNOLOGIES PRIVATE LIMITED	Director	27/12/2011	23/12/2011	30/03/2013	Active	NO
13	U70102MH2011PTC221225	NAKSH LAND DEVELOPERS PRIVATE LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO
14	U74999MH2012PTC228414	BLUE MARTINI REALTORS PRIVATE LIMITED	Director	19/03/2012	19/03/2012	-	Active	NO
15	U74120MH2013PLC244220	MUKTA V N FILMS LIMITED	Additional director	12/06/2013	12/06/2013	-	Active	NO
16	U45400PN2014PTC150052	SVP REALTY PRIVATE LIMITED	Director	06/01/2014	06/01/2014	-	Active	NO
17	AAA-3106	SCRABBLE VENTURES & HOLDING LLP	Designated Partner	15/12/2010	15/12/2010	-	Active	NO

Name :

Mr.Sanjay Shankar Gaikwad

Designation :

Director

Address :

44, Punarvasu Tarangan Complex, Samata Nagar, Pokhran Road No.1, Thane (West), Thane – 400606, Maharashtra, India

Date of Birth/Age :

26.07.1965

Date of Appointment :

29.09.2011

DIN No. :

01001173

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72200MH2006PLC161881	VALUABLE TECHNOLOGIES LIMITED	Managing director	20/12/2009	19/05/2006	-	Active	NO
2	U92120DL2005PLC135845	UFO MOVIEZ LIMITED	Director	10/07/2006	10/07/2006	-	Amalgamated	NO
3	U74999DL2007PLC158296	Apollo Logisolutions Limited	Additional director	03/03/2007	03/03/2007	-	Amalgamated	NO
4	U45400MH2007PTC172052	NISARG BUILDING ART & TECHNOLOGY PVT. LTD	Director	28/06/2007	28/06/2007	-	Active	NO
5	U74900MH2007PLC176311	IMPACT MEDIA EXCHANGE LIMITED	Director	29/11/2007	29/11/2007	-	Active	NO
6	U70101MH2007PTC170836	VALUABLE DESTINATIONS PRIVATE LIMITED	Director	01/01/2008	01/01/2008	-	Active	NO
7	U55101MH1995PLC091582	GIRIKANDRA HOLIDAY HOMES AND RESORTS LIMITED	Director	30/09/2009	05/06/2008	-	Active	NO
8	U67190MH2008PTC186132	M5 MEDIA INVESTMENTS PRIVATE LIMITED	Director	25/08/2008	25/08/2008	-	Active	NO
9	U22120DL2004PLC164728	UFO MOVIEZ INDIA LIMITED	Managing director	17/10/2013	17/10/2008	-	Active	NO
10	U65990MH1995PTC095481	NIFTY PORTFOLIO SERVICES PRIVATE LIMITED	Director	18/09/2009	06/03/2009	-	Active	NO
11	U92200MH2007PLC176018	VALUABLE MEDIA LIMITED	Director	23/09/2009	27/03/2009	-	Active	NO
12	U72900MH2010PLC199736	QWIK ENTERTAINMENT INDIA LIMITED	Director	05/02/2010	05/02/2010	-	Active	NO
13	U65990MH1993PTC071015	GOLDENCREST FINANCIAL SERVICES PRIVATE LIMITED	Director	22/08/2011	02/04/2011	-	Active	NO
14	U92190MH2008PLC178456	SCRABBLE ENTERTAINMENT LIMITED	Director	29/09/2011	21/09/2011	-	Active	NO
15	U70102MH2013PTC241211	LYNX DEVELOPERS PRIVATE LIMITED	Director	20/03/2013	20/03/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Samir
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Sunil Shamrao Patil	114568
Sanjay Shankar Gaikwad	10
Kapil Kumar Agarwal	10
Ashish Malushte	10
Rajesh Mishra	10
Sushil Kumar Agrawal	10
Pankaj Jaysingh	10
Vishnu Patel	10
Ranjit Prakash Thakkar	66609
UFO Moviez India Limited	587140
Total	768387

Preference shares

Names of Shareholders	No. of Shares
UFO Moviez India Limited	34782

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding

Bodies corporate	76.41
Directors or relatives of Directors	14.92
Other top fifty shareholders	8.67
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing digital cinema services.

Products :

ITC Code	Products or Services
9996	Audio Visual and Related Services
99961400	Virtual Print Fee

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Not Divulged

Countries :

Not Divulged

Imports :

Products :

Not Divulged

Countries :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesalers, Retailers, End Users, OEM’s and Others

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Yes Bank Limited
Branch Address	9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Banker Name	HDFC Bank Limited
Branch Address	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Rupee Term Loans From Banks	219.618	2.755
Total	219.618	2.755

Financial Institution :	Tata Capital Limited, One Forbes, Dr V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India

Auditors :
Name :	S R B C and Company LLP Chartered Accountants
Address :	14th floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India
PAN No.:	ABSFS4151K

Memberships :	--

Collaborators :	--

Holding :	UFO Moviez India Limited

Associates/Subsidiaries :	Scrabble Entertainment Mauritius Limited Scrabble Entertainment JLT Scrabble Entertainment (Lebanon) Sarl, Lebanon Scrabble Entertainment (Israel) Limited

CAPITAL STRUCTURE

As on 30.09.2014

No. of Shares	Type	Value	Amount

1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions
104300	Preference shares	Rs.1150/- each	Rs.119.945 Millions
	Total		Rs. 129.945 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

768387	Equity Shares	Rs.10/- each	Rs.7.684 Millions
34782	Preference shares	Rs.1150/- each	Rs.39.999 Millions
	Total		Rs. 47.683 Millions

As on 31.03.2014

No. of Shares	Type	Value	Amount

1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions
104300	Preference shares	Rs.1150/- each	Rs.119.945 Millions
	Total		Rs. 129.945 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

768387	Equity Shares	Rs.10/- each	Rs.7.684 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7.684	47.683	47.683
(b) Reserves & Surplus	394.618	374.704	318.731
(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)	402.302	422.387	366.414

(3) Non-Current Liabilities
(a) long-term borrowings	219.618	2.755	2.933
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	231.777	181.389	120.663
(d) long-term provisions	5.275	10.351	4.941
Total Non-current Liabilities (3)	456.670	194.495	128.537

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	37.994
(b) Trade payables	242.176	159.018	72.807
(c) Other current liabilities	235.117	86.724	54.831
(d) Short-term provisions	7.388	4.157	3.265
Total Current Liabilities (4)	484.681	249.899	168.897

TOTAL	1343.653	866.781	663.848

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	526.491	185.631	208.464
(ii) Intangible Assets	0.282	0.705	0.615
(iii) Capital work-in-progress	89.062	13.840	8.114
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	119.024	60.865	60.865
(c) Deferred tax assets (net)	26.770	21.243	12.562
(d) Long-term Loan and Advances	258.810	236.207	125.346
(e) Other Non-current assets	37.483	9.997	4.757
Total Non-Current Assets	1057.922	528.488	420.723

(2) Current assets
(a) Current investments	17.556	16.441	10.424
(b) Inventories	20.146	33.106	37.729
(c) Trade receivables	155.354	241.324	141.567
(d) Cash and cash equivalents	20.713	19.763	45.944
(e) Short-term loans and advances	51.804	22.287	5.713
(f) Other current assets	20.158	5.372	1.748
Total Current Assets	285.731	338.293	243.125

TOTAL	1343.653	866.781	663.848

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1008.756	671.594	434.464
		financial Income	0.000	5.337	5.270
		Other Income	1.088	0.000	4.120
		TOTAL	1009.844	676.931	443.854

Less	EXPENSES
		Cost of Materials Consumed	78.343	88.864	74.078
		Purchases of Stock-in-Trade	0.000	0.000	168.310
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	2.534
		Employees benefits expense	64.662	51.616	38.723
		Other expenses	733.622	401.401	86.756
		TOTAL	876.627	541.881	370.401

	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		133.217	135.050	73.453

Less	FINANCIAL EXPENSES		27.965	7.130	24.765

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		105.252	127.920	48.688

Less/ Add	DEPRECIATION/ AMORTISATION		72.176	41.143	34.314

	PROFIT BEFORE TAX		33.076	82.777	14.374

Less	TAX		13.173	26.723	6.164

	PROFIT AFTER TAX		19.903	56.054	8.210

	Earnings / (Loss) Per Share (Rs.)
	Basic		25.90	72.95	11.540
	Diluted		24.74	69.40	11.330

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	1.97	8.35	1.89

Operating Profit Margin (PBDIT/ Sales)	(%)	13.21	20.13	16.91

Return on Total Assets (PBT/Total Assets}	(%)	2.98	10.74	2.47

Return on Investment (ROI) (PBT/Networth)		0.08	0.20	0.04

Debt Equity Ratio (Total Debt /Networth)		0.55	0.01	0.11

Current Ratio (Current Asset/Current Liability)		0.59	1.35	1.44

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	47.683	47.683	7.684
Reserves & Surplus	318.731	374.704	394.618
Net worth	366.414	422.387	402.302

long-term borrowings	2.933	2.755	219.618
Short term borrowings	37.994	0.000	0.000
Total borrowings	40.927	2.755	219.618
Debt/Equity ratio	0.112	0.007	0.546

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	434.464	670.972	1008.756
		54.437	50.342

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	434.464	670.972	1008.756
Profit	8.210	56.054	19.903
	1.89%	8.35%	1.97%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	---------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	---------
22]	Litigations that the firm / promoter involved in	---------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	---------
26]	Buyer visit details	---------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE :

The registered office of the company has been shifted from 215-218, 2nd Floor, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India to the present address w.e.f. 01.04.2013.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10471762	23/12/2013	100,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, Maharashtra - 400013, INDIA	B94087798
2	10416808	12/03/2013	330,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA	B72297567

* Date of charge modification

During the year, the company’s Operating Revenue increased from Rs. 676.931 Millions in the previous year to Rs. 1009.845 Millions showing a growth of over 49/17% on year-on-year basis. The EBIDTA from operating activities for the current financial year improved to Rs. 133.217 Millions viz-a-viz Rs. 131.049 Millions in the last financial. This was almost at the same level as last year mainly on account of lower realization in virtualptint fee income., foreign exchange loss and poor realization in advertisement income. The PBT for the year under review was Rs. 33.076 Million against Rs. 82.777 Million in the previous year. This was mainly on account of increase in depreciation charge and interest and finance expenses.

REVIEW OF BUSINESS OPERATIONS :

As reported last year, with a long term business perspective and to deploy higher number of screens, your Company had launched rental model wherein the entire capex is made by the Company and the exhibitor is required to pay a monthly fixed rental in addition to a small amount as refundable security deposit. This change has helped your Company to continue expanding its network during the year under review. The total number of installations has increased from 976 at the beginning of the financial year to 1311 as on 31 st March 2014.

As reported earlier, your Company has expanded its reach to international markets in Middle East countries (Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar and UAE) through its subsidiary in UAE. The results of its Middle East operations are very encouraging and we hope to have even better results in years to come.

The Israel operations have also started during the year under review and during its first year of operations have reported satisfactory results.

FUTURE PROSPECTS:

The year ahead seems to be a challenging year. It is expected that your Company will be able to add more screens to its network in the years to come. The rollout period of DCI compliant screens from the major Hollywood Studio perspective had ended on 30 th June 2013. However, your Company has been able to get the same extended at least till 31 st December 2014.

The Company’s Director have pleasure to inform that your Company has started rollout in US and Mexico markets in a joint venture with Christie Digital Systems of USA. Your company is in the process of extending its foot prints to the newer markets though from the digitization point of view, there are very few markets left. It is expected that the Company will continue to grow in the years to come.

FIXED ASSETS

Computer
Furniture and Fixture
Office Equipment
Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.63.23
UK Pound	1	Rs.98.63
Euro	1	Rs.76.59

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	DIV

Report Prepared by :	SPR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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		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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

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