MIRA INFORM REPORT

 

 

Report No. :

327410

Report Date :

16.06.2015

 

IDENTIFICATION DETAILS

 

Name :

HUNGAMA .COM PRIVATE LIMITED

 

 

Registered Office :

F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane, Off. Dr. E Moses Road, Mahalaxmi, Mumbai – 400013, Maharashtra

Tel. No.:

91-22-24903344

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.01.2012

 

 

Com. Reg. No.:

11-226152

 

 

Capital Investment / Paid-up Capital :

Rs.16.405 Million

 

 

CIN No.:

[Company Identification No.]

U74999MH2012PTC226152

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of distribution of content available on the company’s websites including Hungama.com directly to the end Consumer through Platforms like Internet and Mobile Handsets.

 

 

No. of Employees :

05 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

It was incorporated in 2012 and is a subsidiary of “HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED”.

 

Subject is engaged in the business of distribution of content available on the company’s websites including Hungama.com directly to the end consumer through Platforms like Internet and Mobile Handsets.

 

Rating takes into consideration, strong networth position and healthy reported cash balance of the company. However, during FY 2014, the company has made a loss of Rs. 11.901 Million.

 

Subject has strong managerial and financial support from its parent company.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In the view of strong support from parent company, 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.

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Poonam

Designation :

Legal Department

Contact No.:

91-22-24903344

Date :

15.06.2015

 

 

LOCATIONS

 

Registered Office :

F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane, Off. Dr. E Moses Road, Mahalaxmi, Mumbai – 400013, Maharashtra, India

Tel. No.:

91-22-24903344

Fax No.:

91-22-24903355

E-Mail :

companysecretary@hungama.com

Location :

Owned

Locality :

Commercial

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Neeraj Roy

Designation :

Director

Address :

602, RNA Aurovilla, 6th Floor, Near Poddar School, Jain Daresar Marg, Opposite Jain Mandir, Santacruz (West), Mumbai - 400054, Maharashtra, India

Date of Birth/Age :

13.08.1967

Date of Appointment :

17.01.2012

DIN No. :

00285875

 

 

Name :

Mr. Rajiv Ambrish Agarwal

Designation :

Director

Address :

Chamaria Niwas, 3rd Floor, 41 Mahant Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India

Date of Birth/Age :

28.03.1971

Date of Appointment :

17.01.2012

DIN No. :

00379990

 

 

Name :

Mr. Siddhartha Roy

Designation :

Director

Address :

C-161, Sector - 41, Noida - 201301, Uttar Pradesh, India

Date of Birth/Age :

30.09.1976

Date of Appointment :

17.01.2012

DIN No. :

02733776

 

 

Name :

Mr. Vishal Gupta

Designation :

Director

Address :

604, A-Wing, 6th Floor, Dosti Blossoms, Dosti Acres, Wadala (East), Mumbai – 4000037, Maharashtra, India

Date of Birth/Age :

24.09.1977

Date of Appointment :

03.07.2014

DIN No. :

01913013

 

 

KEY EXECUTIVES

 

Name :

Ms. Poonam

Designation :

Legal Department

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

Names of Shareholders (Equity Shareholders)

No. of Shares

Neeraj Roy

1

Hungama Digital Media Entertainment Private Limited, India

1029999

Total

1030000

 

 

Names of Shareholders (Preference Shareholders)

No. of Shares

Intel Capital (Mautitius) Limited, Central Hong Kong

372238

Bessemer Venture Partners Trust

155822

Total

528060

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of distribution of content available on the company’s websites including Hungama.com directly to the end Consumer through Platforms like Internet and Mobile Handsets.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS = NOT AVAILABLE

 

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 :

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 :

05 (Approximately)

 

 

Bankers :

Banker Name

Yes Bank

Branch Address

Mumbai, 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 :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Short-term borrowings

 

 

Loans repayable demand from Bank

 

 

Overdraft from Yes Bank

[Secured against term deposited]

311.083

65.615

Total

311.083

65.615

 

Auditors :

 

Name :

Gandhi Paleja and Associates

Chartered Accountants

Address :

I-12, Everest Building, 10th Floor, Tardeo, Mumbai – 400034, Maharashtra, India

PAN No. :

AAAFG0989J

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Hungama Digital Media Entertainment Private Limited

 

 

Fellow Subsidiaries
  • Hungama Smart Cloud Private Limited
  • Hungama Digital Services Private Limited (until August 2012)
  • Hungama Gameshastra Private Limited
  • Hungama FZE
  • Hungama Mobile FZ LLC
  • Hungama UK Limited
  • Hungama (Singapore) Pte Limited
  • Hungama (Bangladesh) Private Limited
  • Nautanki.Tv Networks Private Limited (until 30th March 2013)

 

 

Associates and Joint Ventures including

Hungama Digital Services Private Limited (after August 2012)

 

 

Associates and Joint Ventures of Holding Co. :

  • Aalap Digital Music Private Limited
  • Aptech Hungama Digital Learning LLP
  • Astute System Technology Private Limited

 

 

Persons owning interest in voting power and their relatives having a significant influence

Intel Capital (Mauritius) Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1235000

Equity Shares

Rs.10/- each

Rs.12.350 Million

632500

Preference Shares

Rs.20/- each

Rs.12.650 Million

 

Total

 

Rs.25.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1030000

Equity Shares

Rs.10/- each

Rs.10.300 Million

528060

Preference Shares

Rs.20/- each

Rs.10.561 Million

 

Total

 

Rs.20.861 Million

 

AS ON 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1100000

Equity Shares

Rs.10 /- each

Rs.11.000 Million

25000

Compulsorily convertible preference shares

Rs.10 /- each

Rs.0.250 Million

320000

Compulsorily convertible preference shares

Rs.20 /- each

Rs.6.400 Million

 

Total

 

Rs.17.650 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1030000

Equity Shares

Rs.10/- each

Rs.10.300 Million

305235

Compulsorily convertible preference shares

Rs.20/- each

Rs.6.105 Million

 

Total

 

Rs.16.405 Million

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

16.405

16.405

0.100

(b) Reserves & Surplus

273.745

385.646

(0.054)

(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)

290.150

402.051

0.046

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

4.020

2.971

0.000

Total Non-current Liabilities (3)

4.020

2.971

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

311.083

65.615

0.000

(b) Trade payables

199.507

68.462

0.007

(c) Other current liabilities

7.641

18.883

0.047

(d) Short-term provisions

9.200

9.315

0.000

Total Current Liabilities (4)

527.431

162.275

0.054

 

 

 

 

TOTAL

821.601

567.297

0.100

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5.337

3.301

0.000

(ii) Intangible Assets

7.700

0.238

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

10.194

9.219

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

0.131

0.427

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

23.362

13.185

0.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

278.158

52.453

0.000

(d) Cash and cash equivalents

401.919

403.388

0.000

(e) Short-term loans and advances

113.100

92.024

0.100

(f) Other current assets

5.062

6.247

0.000

Total Current Assets

798.239

554.112

0.100

 

 

 

 

TOTAL

821.601

567.297

0.100

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

383.336

331.771

0.000

 

 

Other Income

 

 

0.000

 

 

TOTAL                                    

383.336

331.771

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

495.237

394.601

0.054

 

 

 

 

 

 

PROFIT BEFORE TAX 

(111.901)

(62.830)

(0.054)

 

 

 

 

 

Less

TAX                                                                 

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT AFTER TAX

(111.901)

(62.830)

(0.054)

 

 

 

 

 

 

Earnings Per Share (Rs.)

(83.81)

(47.06)

--

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)
 

 

0.00

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(13.79)

(11.26)

(54.00)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.39)

(0.16)

(1.17)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.07

0.16

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.51

3.41

1.85

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

0.100

16.405

16.405

Reserves & Surplus

(0.054)

385.646

273.745

Share Application money pending allotment

0.000

0.000

0.000

Net worth

0.046

402.051

290.150

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

65.615

311.083

Total borrowings

0.000

65.615

311.083

Debt/Equity ratio

0.000

0.163

1.072

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income 

0.000

331.771

383.336

 

 

15.542

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income 

0.000

331.771

383.336

Profit / Loss

(0.054)

(62.830)

(111.901)

 

0.00%

(18.94%)

(29.19%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

---

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

---

33

Market information

---

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

INDEX OF CHARGES : NO CHARGES EXIST FOR COMPANY

 

CORPORATE INFORMATION

 

Subject was incorporated in Mumbai, Maharashtra, India on 17th January, 2012. The Company is engaged in the business of distribution of content available on the company’s websites including Hungama.com directly to the end Consumer through Platforms like Internet and Mobile Handsets

 

RESULTS OF OPERATIONS

 

During the year, the company has registered a total revenue of Rs. 383.336 Million (Previous year Rs.331.771 Million) as against total expenditure of Rs.495.237 Million (Previous year Rs.394.601 Million). During the financial year, the company has made a loss of Rs.111.901 Million (Previous year 62.830 Million).

 

FIXED ASSETS

 

  • Computers
  • Furniture and Fittings
  • Plant and Machinery
  • 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.64.08

UK Pound

1

Rs.99.57

Euro

1

Rs.71.84

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

SNT / PNM

 

 

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

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--MARGINS

-5~5

----

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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.