MIRA INFORM REPORT
|
Report No. : |
304909 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
EROS INTERNATIONAL MEDIA LIMITED (w.e.f. 16.09.2009) |
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|
|
|
Formerly Known
As : |
EROS INTERNATIONAL MEDIA PRIVATE LIMITED |
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Registered
Office : |
201, Kailash Plaza, 2nd Floor, Plot No.12, Off Veera Desai
Road, Mumbai – 400053, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.08.1994 |
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Com. Reg. No.: |
11-080502 |
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Capital
Investment / Paid-up Capital : |
Rs.919.700 Millions |
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|
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CIN No.: [Company Identification
No.] |
L99999MH1994PLC080502 |
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|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMB04686D |
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PAN No.: [Permanent Account No.] |
AAACR2148H |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged into production
and distribution of Indian motion pictures. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “EROS WORLDWIDE FZ LLC”, United Arab
Emirates. It is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The comp can be considered good for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Convertible debenture programmer = AA- |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
August 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
31-03-2014.
INFORMATION DECLINED
Management Non Cooperative (91-22-66021500)
LOCATIONS
|
Registered Office : |
201, Kailash Plaza, 2nd Floor, Plot No.12, Off Veera Desai
Road, Mumbai –400053, Maharashtra, India [W.E.F. 05.04.1999] |
|
Tel. No.: |
91-22-40538500 |
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Fax No.: |
91-22-26732586 |
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E-Mail : |
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Website : |
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Corporate Office : |
901/902, 9th Floor, Supreme Chambers, Off Veera Desai Road, Mumbai - 400053, Maharashtra, India. |
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Tel. No.: |
91-22-66021500 |
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Fax No.: |
91-22-66021540 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Naresh Chandra |
|
Designation : |
Non-Executive Chairman & Independent Director |
|
Address : |
C4/4053, Vasant Kunj, |
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Date of Birth/Age : |
01.08.1934 |
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Qualification : |
Master’s degree in Science from the Allahabad University |
|
Date of Appointment : |
28.09.2009 |
|
DIN No.: |
00015833 |
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|
|
Name : |
Dr. Shankar Nath Acharya |
|
Designation : |
Independent Director |
|
Address : |
S-523 A, 2nd Floor, Greater Kailash II, New Delhi – 110048 |
|
Date of Birth/Age : |
21.10.1945 |
|
Qualification : |
Bachelors’ degree in Politics, Philosophy and Economics from Oxford University in 1967 and earned a Doctorate in Economics from the Harvard University in 1972 |
|
Date of Appointment : |
01.11.2009 |
|
DIN No.: |
00033242 |
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|
Name : |
Mr. Dhirendra Swarup |
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Designation : |
Independent Director |
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Address : |
A-9 / 13B, Vasant Vihar, |
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Date of Birth/Age : |
05.12.1944 |
|
Qualification : |
Government certified Public Accountant and a Fellow of the
Institute of Public Auditors of India, and has a post graduate degree in
Humanities; |
|
Date of Appointment : |
10.02.2010 |
|
DIN No.: |
02878434 |
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|
Name : |
Mr. Sunil Lulla |
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Designation : |
Executive Vice Chairman & Managing Director |
|
Address : |
Plot NO.172, Omkar, |
|
Date of Birth/Age : |
29.06.1964 |
|
Qualification : |
Bachelor’s degree in Commerce from Mumbai University |
|
Date of Appointment : |
19.08.1994 |
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DIN No.: |
00243191 |
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|
Name : |
Mr. Kishore Lulla |
|
Designation : |
Executive Director |
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Address : |
HIghcroft, Totteridge Common, |
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Date of Birth/Age : |
04.09.1961 |
|
Qualification : |
Bachelor’s degree in Arts from Mumbai University |
|
Date of Appointment : |
28.09.2009 |
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DIN No.: |
02303295 |
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|
Name : |
Mr. Vijay Ahuja |
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Designation : |
Executive Director |
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Address : |
10 Draycott, #07-07 Draycott 8, |
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Date of Birth/Age : |
02.04.1957 |
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Qualification : |
Bachelor’s degree in Commerce from Mumbai University |
|
Date of Appointment : |
10.02.2010 |
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DIN No.: |
02966514 |
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|
Name : |
Mrs. Jyoti Deshpande |
|
Designation : |
Executive Director |
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Address : |
16, |
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Date of Birth/Age : |
16.12.1970 |
|
Qualification : |
Bachelor’s degree in Commerce and Economics and a Masters
in Business Administration from Mumbai University |
|
Date of Appointment : |
28.09.2009 |
|
DIN No.: |
02303283 |
KEY EXECUTIVES
|
Name : |
Kamal Kumar Jain |
|
Designation : |
Group Chief Financial Officer |
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Address : |
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Date of Birth/Age : |
Dimple Mehta |
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Qualification : |
Company Secretary & Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
Total
No. of Shares held in Dematerialized Form |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
7000 |
0.01 |
|
|
21700000 |
23.46 |
|
|
21707000 |
23.47 |
|
|
|
|
|
|
47126290 |
50.94 |
|
|
47126290 |
50.94 |
|
Total shareholding of Promoter and Promoter Group (A) |
68833290 |
74.41 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
251734 |
0.27 |
|
|
20050 |
0.02 |
|
|
806646 |
0.87 |
|
|
16788667 |
18.15 |
|
|
17867097 |
19.31 |
|
|
|
|
|
|
1959040 |
2.12 |
|
|
|
|
|
|
2066174 |
2.23 |
|
|
302285 |
0.33 |
|
|
1479388 |
1.60 |
|
|
817214 |
0.88 |
|
|
173 |
0.00 |
|
|
237515 |
0.26 |
|
|
424486 |
0.46 |
|
|
5806887 |
6.28 |
|
Total Public shareholding (B) |
23673984 |
25.59 |
|
Total (A)+(B) |
92507274 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
92507274 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the
Shareholder |
Details of Shares held |
Total shares (including
underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
|
1 |
Eros Worldwide FZ LLC |
4,71,26,290 |
50.94 |
50.94 |
|
2 |
Eros Digital Private Limited |
2,17,00,000 |
23.46 |
23.46 |
|
3 |
Meena Lulla |
2,800 |
0.00 |
0.00 |
|
4 |
Arjan Lulla |
1,400 |
0.00 |
0.00 |
|
5 |
Krishika Sunil Lulla |
1,400 |
0.00 |
0.00 |
|
6 |
Sunil Lulla |
1,400 |
0.00 |
0.00 |
|
|
Total |
6,88,33,290 |
74.41 |
74.41 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares (including
underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
|
|
|
|
|
|
1 |
Indus Capital Advisors (UK) LLP A/c Indus India Fund
(Mauritius) Limited |
1341161 |
1.45 |
1.45 |
|
2 |
Government Pension Fund Global |
2300000 |
2.49 |
2.49 |
|
3 |
DB International (Asia) Limited |
1062709 |
1.15 |
1.15 |
|
4 |
Danske invest Management Company S.A. A/c Dankse Invest
SICAV-SIF-Emerging and Frontier Markets SMID |
1390000 |
1.50 |
1.50 |
|
5 |
National Westminster Bank PLC As Trustee of The Jupiter
India Fund |
1137000 |
1.23 |
1.23 |
|
6 |
Handelsbankens Tillvaxtmarknadsfond |
1360000 |
1.47 |
1.47 |
|
|
Total |
8590870 |
9.29 |
9.29 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into production
and distribution of Indian motion pictures. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company LLP Chartered Accountants |
|
Address : |
16th Floor, Tower II, Indiabulls, Finance Centre, S.B.
Marg, Elphistone (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66262600 |
|
Fax No.: |
91-22-66262601 |
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E-Mail : |
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
Ultimate Holding
Company : (As on 31.03.2013) |
Eros International PLC, Isle of Man |
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|
|
|
Holding Company : |
Eros Worldwide FZ-LLC, United Arab Emirates |
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Subsidiaries : |
|
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Fellow Subsidiary : |
|
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Company in which
KMP / Relatives of KMP can exercise significant influence: |
Shivam Enterprises |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital : Rs.1250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.925.073
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
91,973,190 |
Equity Shares |
Rs.10/- each |
Rs.919.700 Millions |
|
|
|
|
|
Reconciliation of
number of shares and amount outstanding at the beginning and at the end of the
reporting period
|
Particulars |
Number |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
91,921,340 |
919.213 |
|
Shares issued during the year * |
51,850 |
0.519 |
|
Shares outstanding at the end of the year |
91,973,190 |
919.732 |
*The Company has issued total 51,850 shares (Previous year - 184,483) during the year on exercise of options granted under the employees stock option plan (ESOP) wherein part consideration was received in the form of employees services.
Terms/rights attached
to shares
The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The dividend proposed (if any) by the Board of Directors and approved by the shareholders in the Annual General Meeting is paid in Indian rupees. All shares rank pari pasu on repayment of capital in the event of liquidation.
Shares in the company
held by holding/ultimate holding company
|
Name of the
Shareholder |
Number |
Rs. In Millions |
|
Eros Worldwide FZ LLC - Holding Company |
47,126,290 |
4,71.300 |
|
Eros Digital Private Limited - Fellow subsidiary |
21,700,000 |
2,17.000 |
Shares in the company
held by each shareholder holding more than 5% shares
|
Name of the
Shareholder |
Number |
% of Holding |
|
Eros Worldwide FZ LLC |
47,126,290 |
51.27 |
|
Eros Digital Private Limited |
21,700,000 |
23.61 |
Details of bonus
shares issued during the period of five years
66,306,500 equity shares were allotted as fully paid up bonus shares in the financial year 2009-10 by capitalization of the surplus in the Statement of Profit and Loss account of the company
Details of equity
shares issued under employees stock option scheme (2009) during the period of
five years immediately preceding the reporting date
The Company has issued total 566,190 shares (Previous year – 514,340) on exercise of options granted under the employees stock option plan (ESOP) wherein part consideration was received in the form of employee services.
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 |
919.700 |
919.200 |
917.400 |
|
(b) Reserves & Surplus |
8010.400 |
6841.900 |
5780.800 |
|
(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) |
8930.100 |
7761.100 |
6698.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
973.200 |
1300.900 |
1124.200 |
|
(b) Deferred tax liabilities (Net) |
2051.900 |
1556.300 |
1036.700 |
|
(c) Other long term
liabilities |
13.000 |
11.300 |
10.700 |
|
(d) long-term
provisions |
14.300 |
11.300 |
6.600 |
|
Total Non-current
Liabilities (3) |
3052.400 |
2879.800 |
2178.200 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2862.900 |
2540.200 |
2417.800 |
|
(b) Trade
payables |
369.800 |
437.400 |
889.200 |
|
(c) Other
current liabilities |
1310.000 |
1038.400 |
1583.700 |
|
(d) Short-term
provisions |
250.500 |
125.000 |
198.400 |
|
Total Current
Liabilities (4) |
4793.200 |
4141.000 |
5089.100 |
|
|
|
|
|
|
TOTAL |
16775.700 |
14781.900 |
13965.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
441.200 |
485.100 |
517.800 |
|
(ii) Intangible
Assets |
6699.900 |
5611.500 |
3830.100 |
|
(iii)
Capital work-in-progress |
4684.500 |
4079.300 |
4033.600 |
|
(iv)
Content
Advances (net) |
0.000 |
0.000 |
15.000 |
|
(b) Non-current Investments |
204.200 |
204.100 |
204.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
171.100 |
155.700 |
51.900 |
|
(e) Other
Non-current assets |
878.500 |
551.700 |
265.600 |
|
Total Non-Current
Assets |
13079.400 |
11087.400 |
8918.100 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
2.000 |
435.000 |
|
(b)
Inventories |
12.200 |
60.900 |
52.200 |
|
(c) Trade
receivables |
1727.500 |
1513.200 |
1293.100 |
|
(d) Cash
and cash equivalents |
1514.500 |
1704.400 |
2989.600 |
|
(e)
Short-term loans and advances |
389.300 |
313.300 |
199.900 |
|
(f) Other
current assets |
52.800 |
100.700 |
77.600 |
|
Total
Current Assets |
3696.300 |
3694.500 |
5047.400 |
|
|
|
|
|
|
TOTAL |
16775.700 |
14781.900 |
13965.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8571.200 |
9253.100 |
8020.000 |
|
|
|
Other Income |
21.700 |
79.100 |
193.200 |
|
|
|
TOTAL (A) |
8592.900 |
9332.200 |
8213.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
5727.900 |
6756.700 |
5844.200 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
48.700 |
(8.600) |
(31.800) |
|
|
|
Employees benefits expense |
251.400 |
230.300 |
148.200 |
|
|
|
Other expenses |
338.800 |
412.800 |
360.800 |
|
|
|
TOTAL (B) |
6366.800 |
7391.200 |
6321.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2226.100 |
1941.000 |
1891.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
327.100 |
93.900 |
123.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1899.000 |
1847.100 |
1768.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.600 |
56.900 |
42.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1851.400 |
1790.200 |
1725.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
714.700 |
619.300 |
627.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1136.700 |
1170.900 |
1097.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3653.500 |
2701.300 |
1603.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
58.600 |
0.000 |
|
|
|
Dividend |
NA |
137.800 |
0.000 |
|
|
|
Tax on Dividend |
NA |
22.300 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4790.200 |
3653.500 |
2701.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1735.200 |
2343.900 |
2572.000 |
|
|
TOTAL EARNINGS |
1735.200 |
2343.900 |
2572.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of film/serial rights |
NA |
171.400 |
394.400 |
|
|
|
Purchase of beta tapes/Masters |
NA |
0.100 |
1.700 |
|
|
|
Purchase of DVD’s/Blue Ray Disks |
NA |
0.100 |
0.700 |
|
|
TOTAL IMPORTS |
NA |
171.600 |
396.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
12.36 |
12.75 |
12.00 |
|
|
|
Diluted |
12.31 |
12.74 |
12.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
13.26 |
12.65 |
13.69 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
25.97 |
20.98 |
23.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.57 |
17.05 |
17.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.23 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.43 |
0.49 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77 |
0.89 |
0.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
917.400 |
919.200 |
919.700 |
|
Reserves & Surplus |
5780.800 |
6841.900 |
8010.400 |
|
Net
worth |
6698.200 |
7761.100 |
8930.100 |
|
|
|
|
|
|
long-term borrowings |
1124.200 |
1300.900 |
973.200 |
|
Short term borrowings |
2417.800 |
2540.200 |
2862.900 |
|
Total
borrowings |
3542.000 |
3841.100 |
3836.100 |
|
Debt/Equity
ratio |
0.529 |
0.495 |
0.430 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8020.000 |
9253.100 |
8571.200 |
|
|
|
15.375 |
(7.369) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8020.000 |
9253.100 |
8571.200 |
|
Profit |
1097.900 |
1170.900 |
1136.700 |
|
|
13.69% |
12.65% |
13.26% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term debt |
500.300 |
190.100 |
116.700 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
SL/150/2013 |
Failing Date:- |
22/02/2013 |
Reg. No.:- |
S/260/2013 |
Reg. Date:- |
30/03/2013 |
|
Petitioner:- |
RELIANCE MEDIA WORKS LIMITED |
Respondent:- |
EROS INTERNATIONAL MEDIA LIMITED |
||||
|
Petn.Adv:- |
NAIK NAIK AND COMPANY (0) |
Resp. Adv.: |
M/S. HARIANI AND COMPANY (4) (0) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
Category:- |
COPY RIGHT (SUIT) |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR FRAMING ISSUES |
||||
|
Last Date:- |
05/01/2015 |
||||||
|
Last Coram:- |
|
||||||
|
Act. : |
Code of Civil Procedure 1908 |
|
|||||
CORPORATE INFORMATION
Eros International Media Limited, was incorporated in India, under the companies Act, 1956. The Company is global player within the Indian media and entertainment industry and is primarily engaged in the business of films production, exploitation and distribution. It operates on a vertically integrated studio model controlling content as well as distribution and exploitation across multiple formats globally, including cinema, digital, home entertainment and television syndication. Its shares are listed on leading stock exchanges in India (BSE Scrip Code;533261; NSE Scrip Code EROSMEDIA )
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWINGS |
|
|
|
From banks |
1371.100 |
900.000 |
|
Loans and advances from related parties |
40.800 |
0.200 |
|
Total |
1411.900 |
900.200 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10504481 |
02/06/2014 |
40,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR, UNION
BANK, BHAVAN,239,VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, Maharashtra
- 400021, INDIA |
C07533904 |
|
2 |
10504546 |
27/05/2014 |
20,000,000.00 |
PUNJAB NATIONAL BANK |
LINKING ROAD, SANTRACRUZ (WEST), MUMBAI, Maharashtra - 400054, INDIA |
C07585458 |
|
3 |
10285846 |
25/07/2014 * |
4,464,400,000.00 |
Indian Overseas Bank |
Large Corporate Branch, Plot No. 31, G - Block,, |
C16697567 |
* Date of charge modification
FIXED ASSETS
- Building
- Furniture and fixtures
- Motor vehicles
- Office equipment
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR QUARTER
AND SIX MONTHS ENDED 30TH SEPTEMBER 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended |
Six Months Ended |
|
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
1459.000 |
2007.300 |
3466.300 |
|
Total
income from Operations(net) |
1459.000 |
2007.300 |
3466.300 |
|
2.
Expenditure |
|
|
|
|
a) Purchase of stock in trade |
914.900 |
1419.100 |
2334.000 |
|
b) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(30.300) |
(0.300) |
(30.600) |
|
c) Employees benefit expenses |
65.200 |
72.500 |
137.700 |
|
d) Depreciation and amortization expenses |
16.300 |
14.800 |
31.100 |
|
e) Other expenditure |
98.300 |
34.600 |
132.900 |
|
Total expenses |
1064.400 |
1540.700 |
2605.100 |
|
3. Profit from operations before other income and
financial costs |
394.600 |
466.600 |
861.200 |
|
4. Other income |
30.900 |
18.600 |
19.500 |
|
5. Profit from ordinary activities before finance costs |
425.500 |
485.200 |
910.700 |
|
6. Finance costs |
109.200 |
93.700 |
202.900 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
316.300 |
391.500 |
707.800 |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
316.300 |
391.500 |
707.800 |
|
10.Tax expenses |
110.500 |
147.100 |
257.600 |
|
11.Net Profit
/ (Loss) from ordinary activities after tax (9-10) |
205.800 |
244.400 |
450.200 |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
205.800 |
244.400 |
450.200 |
|
17.Paid-up
equity share capital (Nominal value Re. 10/- per share) |
923.700 |
920.700 |
923.700 |
|
18. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
19.i) Earnings per share (before extraordinary items)
of Re. 10/- each) (not annualised): |
|
|
|
|
Basic |
2.23 |
2.66 |
4.89 |
|
Diluted |
2.22 |
2.64 |
4.86 |
|
ii) Earnings per share (after extraordinary items) |
|
|
|
|
Basic |
2.23 |
2.66 |
4.89 |
|
Diluted |
2.22 |
2.64 |
4.86 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
-
Number of shares |
23537617 |
23233315 |
23537617 |
|
-
Percentage of shareholding |
25.48 |
25.24 |
25.48 |
|
2.
Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged
/Encumbered |
|
|
|
|
Number
of shares |
- |
- |
- |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
- |
- |
- |
|
Percentage
of shares (as a % of total share capital of the company) |
- |
- |
- |
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
|
Number
of shares |
68833290 |
68833290 |
68833290 |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
100 |
100 |
100 |
|
Percentage
of shares (as a % of total share capital of the company) |
74.52 |
74.76 |
74.52 |
Notes:
- The accompanying statement of slandered
consolidated financial result has been received by the Audit Committee and
approved by the Board of Director as its meeting held on 12 November 2014
and has been subjected to a limited review by the statutory of the
company.
- The financial result for the quarter
and six months ended 30 September 2014 have been prepared on the basis of
accounting policies followed in the preparation of annual financial
statement for the year ended 31st March 2014 and quarter ended
30th June 2014.
- Statements of assets and liabilities
UNAUDITED
STATEMENT OF ASSETS AND LIABILITIES
|
SOURCES OF FUNDS |
|
|
30.09.2014 |
|
|
|
|
Unaudited |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
923.700 |
|
(b) Reserves &
Surplus |
|
|
8518.600 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
Total Shareholders’ Funds
(1) + (2) |
|
|
9442.300 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1322.600 |
|
(b) Deferred tax liabilities
(Net) |
|
|
2215.500 |
|
(c) Other long term
liabilities |
|
|
9.700 |
|
(d) long-term provisions |
|
|
16.800 |
|
Total Non-current
Liabilities (3) |
|
|
3564.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
2988.000 |
|
(b) Trade payables |
|
|
235.200 |
|
(c) Other current
liabilities |
|
|
1585.900 |
|
(d) Short-term provisions |
|
|
227.800 |
|
Total Current Liabilities
(4) |
|
|
5036.900 |
|
|
|
|
|
|
TOTAL |
|
|
18043.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
423.700 |
|
(ii) Intangible Assets |
|
|
6998.900 |
|
(iii) Content advance |
|
|
6209.000 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
204.300 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
1251.400 |
|
(e) Other Non-current
assets |
|
|
33.800 |
|
Total Non-Current Assets |
|
|
15121.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
42.800 |
|
(c) Trade receivables |
|
|
1928.000 |
|
(d) Cash and cash equivalents |
|
|
641.800 |
|
(e) Short-term loans and
advances |
|
|
224.600 |
|
(f) Other current assets |
|
|
85.500 |
|
Total Current Assets |
|
|
2922.700 |
|
|
|
|
|
|
TOTAL |
|
|
18043.800 |
- The consolidated financial results have
prepared in accordance with the principles and producers for the
preparation and presentation of consolidated accounts as set out the
accounting standard 21 Consolidated financial statements’ issued by the
institute of Chartered Accountant of India
- The group operates on a single
reportable segment, which is co-production, acquisition and distribution
of Indian language films in multiple formats, being governed by similar
risks and return, forming the primary business segment. Accordingly,
no-segment information within the meeting of accounting standard 17-
segment reporting has been submitted as a part of the quality financial
results presented.
- Operating expenses include all direct
costs such as film right related cost, printing and publicity costs as
well as marketing and other related costs
- Status of investor companies (Nos)
opening as at 1 July (Nil), received during the quarter (2) disposed
during the quarter (Nil), remaining unresolved as at 30 September 2014 (2)
- The group’s financial results for any
period fluctuate due to film release schedules which takes into account
holidays and festivals in India elsewhere, competitor film release and
sporting events.
- On 9 June 2014, the company executed a term
sheet to acquire controlling stake in universal power system private
limited , a company in mobile value added services that has billing
integration in place with major
telecom operator in India , trading by the name techzone. It is
expected that the transaction will conclude within 31 march 2015 through
execution of the definitive agreement, subject to fulfillment of
conditions precedent and finalization of the holdings along with the
purchase consideration.
- There have been no material events
subsequent to the reporting period that would need to be reflected in the
above results of disclosed under the notes.
- Previous period figure have been
regrouped or reclassified necessary
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.61.49 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
70 |
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.