MIRA INFORM REPORT

Report No. :	320721
Report Date :	18.04.2015

IDENTIFICATION DETAILS

Name :	THE INDIAN EXPRESS LIMITED
Registered Office :	Express Towersnariman Point, Mumbai - 400021, Maharashtra
Tel. No.:	91-22-22022627/67440000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	05.11.2003
Com. Reg. No.:	11-142983
Capital Investment / Paid-up Capital :	Rs.166.000 Million
CIN No.: [Company Identification No.]	U22120MH2003PLC142983
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCT1148F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Publishers of any newspapers, Journals, magazines, books and other literary works in any media including electronics media like electronic mail, radio and television.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 6400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exit
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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 rating = BBB+
Rating Explanation	Moderate degree of safety and moderate credit
Date	February 20, 2015

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 co-operative 022.22022139

LOCATIONS

Registered Office :	Second Floor, Express Towers, Nariman Point, Mumbai - 400021, Maharashtra , India
Tel. No.:	91-22-22022627/67440000
Mobile No.:	Not Available
Fax No.:	91-22-22022139
Email:	Monika.bansal@expressindia.com
Corporate Office :	The Express Building, B1/B, Sector 10, Noida, Uttar Pradesh - 201301, India
Tel. No.:	91-1206651500
Branches :	Bhubhaneshwar Guwahati Kolkata Patna Ahmedabad Ahmedabad Aurangabad Navi Mumbai Amritsar Bathinda Bhopal Chandigarh Dehradun Jaipur Jalandhar Lucknow Ludhiana Mumbai Nagar Nashik Pune Rajkot Surat Thane Vadodara Meerut New Delhi Patiala Shimla Srinagar Bangalore Chennai Coimbatore Hyderabad kochi

DIRECTORS

As on 30.09.2014

Name :

Mr. Viveck Goenka

Designation :

Dhaiman cum Managing Director

Address :

Express Tower, Nariman Point, Mumbai - 400021, Maharashtra, India

Date of Birth/Age :

03.12.1957

Date of Appointment :

05.01.2014

DIN No.:

00015640

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	U99999MH1970PLC113628	Indian Express Holdings and Enterprises Limited	Director	30/08/1985	15/04/1985	-	Active	NO
2	U22120MH1959PTC011302	INDIAN EXPRESS NEWSPAPERS (MUMBAI) Private Limited	Director	05/01/2009	01/10/1985	08/05/2014	Active	NO
3	U22219WB1981PTC034416	BHARAT KATHA OFFSET PVT LTD	Director	14/10/1990	14/10/1990	-	Active	NO
4	U25209WB1981PTC034308	BHARAT KATHA PUBLICATIONS PVT LTD	Director	14/10/1990	14/10/1990	27/06/2012	Active	NO
5	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	30/05/2013	23/09/1992	-	Active	NO
6	U70101MH1993PTC075099	INDIAN EXPRESS PROPERTY PRIVATE LIMITED	Director	11/09/1995	11/09/1995	31/03/2015	Active	NO
7	U99999MH1996PTC097842	THE INDIAN EXPRESS ONLINE MEDIA PRIVATE LIMITED	Director	18/04/1996	18/04/1996	-	Active	NO
8	U22120MH1970PTC014804	LOKASATTA PRIVATE LIMITED	Director	26/03/1997	26/03/1997	-	Active	NO
9	U21013MH1970PTC014805	THE FINANCIAL EXPRESS PRINT MEDIA PRIVATE LIMITED	Director	26/03/1997	26/03/1997	-	Active	NO
10	U27209TN1980PTC008419	BDG FABRICATIONS PRIVATE LIMITED	Director	29/09/1997	29/09/1997	11/12/2009	Strike off	NO
11	U22121MH1997PLC107921	THE INDIAN EXPRESS PRINT MEDIA LIMITED	Director	09/07/1999	27/02/1998	-	Active	NO
12	U67120MH1998PTC114201	SHRI DURGA HOLDINGS PRIVATE LIMITED	Director	27/03/1998	27/03/1998	-	Active	NO
13	U73200MH1998NPL117397	THE ECONOMY AND POLICY RESEARCH FOUNDATION	Director	09/12/1998	09/12/1998	-	Active	NO
14	U70200MH1993PLC075094	INDIAN EXPRESS COMMERCIAL VENTURES & PROJECTS LIMITED	Director	23/02/1999	23/02/1999	-	Active	NO
15	U22120MH2003PLC142983	THE INDIAN EXPRESS LIMITED	Managing director	05/01/2014	05/11/2003	-	Active	NO
16	U91990MH2005NPL152660	RAMNATH GOENKA MEMORIAL FOUNDATION	Director	15/04/2005	15/04/2005	-	Active	NO
17	U92132MH1993PTC075093	Indian Express Digital Media Private Limited	Director	20/03/2006	20/03/2006	-	Active	NO
18	U70102MH1993PLC075098	GOENKA VENTURES (I) LIMITED	Director	20/03/2006	20/03/2006	-	Active	NO
19	U22120MH1995PTC088656	INDIAN EXPRESS BUSINESS PUBLICATIONS PRIVATE LIMITED	Director	20/03/2006	20/03/2006	31/03/2015	Active	NO
20	U01400UR2007PTC032402	GAJANAN AGRITECH PRIVATE LIMITED	Director	27/04/2007	27/04/2007	-	Active	NO
21	U80903DL2008PLC183209	NEWSchool Ventures Limited	Director	12/09/2008	12/09/2008	-	Active	NO
22	U91990MH1999NPL121424	SCREEN ACADEMY FOR EXCELLENCE IN MOTION PICTURES ARTS AND TEC	Director	30/09/2009	24/08/2009	31/03/2015	Active	NO
23	U74300DL2011PTC224498	Global Fairs & Media Private Limited	Director	29/06/2012	29/06/2012	30/09/2013	Active	NO
24	U55204MH2012PTC236179	The Chocolate Spoon Company Private Limited	Director	25/09/2012	25/09/2012	-	Active	NO
25	U22190MH2013PLC248243	Screen India Limited	Director	16/09/2013	16/09/2013	-	Active	NO
26	U74899DL1947PLC103246	THE PRESS TRUST OF INDIA LIMITED	Director	24/09/2014	07/03/2014	-	Active	NO

Name :

Mr. Vaidehi Thakar

Designation :

Whole Time Director

Address :

Flat 8E Giriraj, 15 Altamount Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

19.09.1962

Date of Appointment :

05.01.2014

DIN No.:

00015587

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	U73200MH1998NPL117397	THE ECONOMY AND POLICY RESEARCH FOUNDATION	Director	09/12/1998	09/12/1998	-	Active	NO
2	U92132MH1993PTC075093	Indian Express Digital Media Private Limited	Director	12/10/2000	12/10/2000	-	Active	NO
3	U70200MH1993PLC075094	INDIAN EXPRESS COMMERCIAL VENTURES & PROJECTS LIMITED	Director	12/10/2000	12/10/2000	-	Active	NO
4	U74999MH1993PTC075096	I E Media Private Limited	Director	12/10/2000	12/10/2000	-	Active	NO
5	U92132MH1993PTC075095	INDIAN EXPRESS TELEVISION P LTD	Director	12/10/2000	12/10/2000	-	Active	NO
6	U22121MH1997PTC107923	JANSATTA PUBLICATIONS PRIVATE LIMITED	Director	12/10/2000	12/10/2000	-	Active	NO
7	U99999MH1996PTC097842	THE INDIAN EXPRESS ONLINE MEDIA PRIVATE LIMITED	Director	12/10/2000	12/10/2000	-	Active	NO
8	U70101MH1993PTC075099	INDIAN EXPRESS PROPERTY PRIVATE LIMITED	Director	12/10/2000	12/10/2000	-	Active	NO
9	U22120MH1995PTC088656	INDIAN EXPRESS BUSINESS PUBLICATIONS PRIVATE LIMITED	Director	12/10/2000	12/10/2000	-	Active	NO
10	U22219WB1981PTC034416	BHARAT KATHA OFFSET PVT LTD	Director	12/10/2000	12/10/2000	-	Active	NO
11	U70102MH1993PLC075098	GOENKA VENTURES (I) LIMITED	Director	12/10/2000	12/10/2000	31/03/2015	Active	NO
12	U22121MH1997PLC107921	THE INDIAN EXPRESS PRINT MEDIA LIMITED	Director	12/10/2000	12/10/2000	31/03/2015	Active	NO
13	U25209WB1981PTC034308	BHARAT KATHA PUBLICATIONS PVT LTD	Director	12/10/2000	12/10/2000	28/09/2012	Active	NO
14	U22120MH1970PTC014804	LOKASATTA PRIVATE LIMITED	Director	16/12/2000	16/12/2000	-	Active	NO
15	U67120MH1998PTC114201	SHRI DURGA HOLDINGS PRIVATE LIMITED	Director	16/12/2000	16/12/2000	-	Active	NO
16	U21013MH1970PTC014805	THE FINANCIAL EXPRESS PRINT MEDIA PRIVATE LIMITED	Director	16/12/2000	16/12/2000	-	Active	NO
17	U99999MH1970PLC113628	Indian Express Holdings and Enterprises Limited	Director	19/04/2001	30/12/2000	-	Active	NO
18	U22120MH1959PTC011302	INDIAN EXPRESS NEWSPAPERS (MUMBAI) Private Limited	Director	08/05/2014	30/03/2001	-	Active	NO
19	U91990MH1999NPL121424	SCREEN ACADEMY FOR EXCELLENCE IN MOTION PICTURES ARTS AND TEC	Director	29/10/2003	29/10/2003	-	Active	NO
20	U22120MH2003PLC142983	THE INDIAN EXPRESS LIMITED	Whole-time director	05/01/2014	05/11/2003	-	Active	NO
21	U91990MH2005NPL152660	RAMNATH GOENKA MEMORIAL FOUNDATION	Director	15/04/2005	15/04/2005	-	Active	NO
22	U80903DL2008PLC183209	NEWSchool Ventures Limited	Director	12/09/2008	12/09/2008	31/03/2015	Active	NO
23	U74300DL2011PTC224498	Global Fairs & Media Private Limited	Director	28/06/2012	02/09/2011	-	Active	NO
24	U22190MH2013PLC248243	Screen India Limited	Director	16/09/2013	16/09/2013	31/03/2015	Active	NO

Name :

Mr. Goenka Anant

Designation :

Whole Time Director

Address :

Pent House, Express towers, Nariman Point, Mumbai - 400021, Maharashtra, India

Date of Birth/Age :

19.08.1986

Date of Appointment :

15.03.2013

DIN No.:

05277022

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	U99999MH1970PLC113628	Indian Express Holdings and Enterprises Limited	Director	11/05/2012	11/05/2012	-	Active	NO
2	U74120MH2012PTC237776	ANA ANA REALITY PRIVATE LIMITED	Director	09/11/2012	09/11/2012	-	Active	NO
3	U22120MH2003PLC142983	THE INDIAN EXPRESS LIMITED	Whole-time director	15/03/2013	14/03/2013	-	Active	NO

Name :

Mr. George Varghees

Designation :

Whole Time Director

Address :

196 Kalpataru Habitat, DR SS Rao Road, Near M G M Hospital Parel, Mumbai - 400012, Maharashtra, Inida

Date of Birth/Age :

18.03.1962

Date of Appointment :

30.09.2014

DIN No.:

02236641

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	U72900DL2003NPL120999	NATIONAL INTERNET EXCHANGE OF INDIA	Director	24/09/2009	01/09/2008	24/09/2010	Active	NO
2	U74300DL2011PTC224498	Global Fairs & Media Private Limited	Director	30/09/2013	30/09/2013	-	Active	NO
3	U22120MH2003PLC142983	THE INDIAN EXPRESS LIMITED	Director	30/09/2014	02/01/2014	-	Active	NO
4	U70200MH1993PLC075094	INDIAN EXPRESS COMMERCIAL VENTURES & PROJECTS LIMITED	Director	31/03/2015	31/03/2015	-	Active	NO
5	U70101MH1993PTC075099	INDIAN EXPRESS PROPERTY PRIVATE LIMITED	Director	31/03/2015	31/03/2015	-	Active	NO
6	U80903DL2008PLC183209	NEWSchool Ventures Limited	Director	31/03/2015	31/03/2015	-	Active	NO
7	U22121MH1997PLC107921	THE INDIAN EXPRESS PRINT MEDIA LIMITED	Director	31/03/2015	31/03/2015	-	Active	NO
8	U70102MH1993PLC075098	GOENKA VENTURES (I) LIMITED	Director	31/03/2015	31/03/2015	-	Active	NO
9	U22190MH2013PLC248243	Screen India Limited	Director	31/03/2015	31/03/2015	-	Active	NO
10	U22120MH1995PTC088656	INDIAN EXPRESS BUSINESS PUBLICATIONS PRIVATE LIMITED	Director	27/04/2015	27/04/2015	-	Active	NO
11	U91990MH1999NPL121424	SCREEN ACADEMY FOR EXCELLENCE IN MOTION PICTURES ARTS AND TEC	Director	27/04/2015	27/04/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Monika Bansal
Designation :	Secretary
Address :	House No. 810, sector 21 C, Part II, Faridabad - 121001, Haryana, India
Date of Birth/Age :	21.01.1983
Date of Appointment :	18.07.2011
PAN NO.:	ALGPB8489B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Indian Express Holding And Enterprises Limited	8465991
Viveck Goenika	6640000
Shekar Gupta And Neelam Goenka	1494000
Vaidehi Thakar	1
Harcharan Singh-	1
Poorvi Kamani	1
Monika Bansal	1
Vinayak Shete	1
S. Munnaram Prasad	1
Sandra Nazareth	1
Neeta Fichardo	1
Clarence Patrik	1
Total	166,000,00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	51.00
Directors or relatives of Directors	40.00
Other top fifty shareholders	9.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Publishers of any newspapers, Journals, magazines, books and other literary works in any media including electronics media like electronic mail, radio and television.

Products :

Product Description	Item Code No. (ITC Code)
Other Service	9997
Other Professional, Technical and Business Service	9983
Printing and Publishing	9989

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

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 :

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 :

Not Divulged

Bankers :

• Yes Bank Limited (Nehru Centre, 9^th Floor, Discovery of India, Dr. A. B Road, Worli, Mumbai - 400018 Maharashtra, India)

• Punjab and Sind Bank (J.K. Somani Building, British Hotel Lane, Fort, Mumbai - 400023, Maharashtra, India )

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Borrowings	142.907	242.466
Short Term Borrowing
Borrowings	419.166	379.273
Total	562.073	621.739

Auditors :
Name :	V. Sankar Aiyar and Company Chartered Accountant
Address :	2-C, Court Chamber, 35, New Marine Lines, Mumbai - 400020, Maharashtra, India
Tel.:	91-11-25702074,25704639
Fax No.:	91-11-25705233,25705010
E-mail:	newdelhi@vsa.co.in
PAN No.:	AAAFV078ID
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	· The Indian Express Online Media Private Limited The Indian Express Print Media Limited Newschool Ventures Limited Indian Express Property Private Limited
Associate:	· Indian Express Newspaper (Mumbai) Private Limited Indian Express Commercial Ventures and Projects Limited Global Fairs and Media Private Limited
Holding Company:	· Indian Express Holding and Enterprises Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
18 ,000,000	Equity Shares	Rs.10/- each	Rs. 180.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17,390,933	Equity Shares	Rs.10/- each	Rs. 173.909 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	166.000	166.000	166.000
(b) Reserves & Surplus	2076.575	2210.673	2054.674
(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)	2242.575	2376.673	2220.674
(3) Non-Current Liabilities
(a) long-term borrowings	142.907	242.466	812.355
(b) Deferred tax liabilities (Net)	0.000	0.000	22.686
(c) Other long term liabilities	56.296	55.202	53.055
(d) long-term provisions	52.098	49.305	69.773
Total Non-current Liabilities (3)	251.301	346.973	957.869
(4) Current Liabilities
(a) Short term borrowings	419.166	379.273	257.633
(b) Trade payables	268.626	258.515	285.393
(c) Other current liabilities	600.340	455.800	501.522
(d) Short-term provisions	26.221	43.504	55.862
Total Current Liabilities (4)	1314.353	1137.092	1100.410
TOTAL	3808.229	3860.738	4278.953
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1885.941	1923.907	2101.617
(ii) Intangible Assets	31.219	32.791	35.114
(iii) Capital work-in-progress	1.649	2.262	3.404
(iv) Intangible assets under development	0.000	1.884	0.000
(b) Non-current Investments	107.193	107.400	103.047
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	268.103	228.439	117.882
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2294.105	2296.683	2361.064
(2) Current assets
(a) Current investments
(b) Inventories	230.290	146.348	189.997
(c) Trade receivables	900.350	877.650	838.744
(d) Cash and cash equivalents	246.119	430.659	242.996
(e) Short-term loans and advances	137.365	109.398	646.152
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1514.124	1564.055	1917.889
TOTAL	3808.229	3860.738	4278.953

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3876.336	3620.143	3457.454
		Other Income	38.606	153.501	58.961
		TOTAL	3914.942	3773.644	3516.415
Less	EXPENSES
		Cost of Materials Consumed	1103.742	943.766	1024.717
		Exceptional Item	141.162	0.000	(198.109)
		Employees benefits expense	1311.208	1258.869	1215.273
		Other expenses	1266.769	1210.574	1232.778
		TOTAL	3822.881	3413.209	3274.659
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		92.061	360.435	241.756
Less	FINANCIAL EXPENSES		118.083	115.531	167.177
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(26.022)	244.904	74.579
Less/ Add	DEPRECIATION/ AMORTISATION		102.882	106.419	101.730
	PROFIT BEFORE TAX		(128.904)	138.485	(27.151)
Less	TAX		0.024	(22.686)	22.686
	PROFIT AFTER TAX		(128.928)	161.171	(49.837)
	Earnings Per Share (Rs.)		(7.77)	9.71	(3.00)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(3.33)	4.45	(1.44)
Operating Profit Margin (PBDIT/Sales)	(%)	2.37	9.96	6.99
Return on Total Assets (PBT/Total Assets}	(%)	(3.48)	3.69	(0.65)
Return on Investment (ROI) (PBT/Networth)		(0.06)	0.06	(0.01)
Debt Equity Ratio (Total Debt /Networth)		0.25	0.26	0.48
Current Ratio (Current Asset/Current Liability)		1.15	1.38	1.74

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	166.000	166.000	166.000
Reserves & Surplus	2054.674	2210.673	2076.575
Net worth	2220.674	2376.673	2242.575
long-term borrowings	812.355	242.466	142.907
Short term borrowings	257.633	379.273	419.166
Total borrowings	1069.988	621.739	562.073
Debt/Equity ratio	0.482	0.262	0.251

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	3457.454	3620.143	3876.336
		4.705	7.077

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	3457.454	3620.143	3876.336
Profit	(49.837)	161.171	(128.928)
	(1.44)%	4.45%	(3.33)%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	No
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

Future Outlook

There is continued emphasis on improving consumer reach and diversification of consumer and geographical mix. The Company also continues to focus on the effective and efficient utilization of the resources, cost control and waste reduction as a measure of improving bottom lines and to build the capabilities that will help to leverage the opportunities that will come in the future. However, the revenue margins are expected to be strained due to reduced ad-spends because of slowdown in the economy, increasing competition from new emerging media including inter alia the audio-visual, audio media as well as inter-net, high-interest rate regime, high inflation and continuous weakening of the Indian rupee against the US dollar leading to costlier imports.

Note:

There is continued emphasis on improving consumer reach and diversification of consumer and geographical mix. The Company also continues to focus on the effective and efficient utilization of the resources, cost control and waste reduction as a measure of improving bottom lines and to build the capabilities that will help to leverage the opportunities that will come in the future. However, the revenue margins are ex

LITIGATION DETAILS
Bench:- Bombay
Lodging No. :	SL/121/2015	Failing Date:-	05.02.2015	Reg. No.:-	S/212/2015	Reg. No.:-	04.03.2015
Petitioner:-	ADITYA BIRLA MANAGEMENTCORPORATE		Respondent:-	THE INDIAN EXPRESS LIMITED. AND 3 ORS
Petn.Adv:-	MANILAL KHER AMBALAL AND COMPANY. (101)		Resp. Adv.:	MS. POORVI KAMANI (74)
District:-	MUMBAI
Bench:-	SINGLE		Category:-	SUITS FOR DAMAGES
Status:-	Pre-Admission
Act. :	Code of Civil Procedure 1908

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10532321	20/11/2014	50,000,000.00	PUNJAB & SIND BANK	LARGE CORPORATE BRANCH, 1P18/90 CONNAUGHT PLACE, NEWDELHI, Delhi - 110001, INDIA	C34298109
2	10525639	26/09/2014	250,000,000.00	PUNJAB & SIND BANK	J.K. SOMANI BLDG., BRITISH HOTEL LANE, FORT, MUMB AI, Maharashtra - 400023, INDIA	C29508009
3	10482105	23/08/2014 *	200,000,000.00	YES BANK LIMITED	Nehru Centre, 9th Floor,, Discovery of India, Dr. A.B. Road, Worli, Mumbai, Maharashtra - 400018, I NDIA	C42397885
4	10399718	28/12/2012	400,000,000.00	UNITED BANK OF INDIA	106-109, ANSAL TOWER, 1ST FLOOR,, 38, NEHRU PLACE , NEW DELHI, Delhi - 110019, INDIA	B66705351
5	10379535	09/05/2014 *	78,800,000.00	PUNJAB & SIND BANK	J.K. SOMANI BLDG., BRITISH HOTEL LANE, FORT, MUMB AI, Maharashtra - 400023, INDIA	C07279664
6	10391573	09/05/2014 *	62,238,389.00	PUNJAB & SIND BANK	J.K. SOMANI BLDG., BRITISH HOTEL LANE, FORT, MUMB AI, Maharashtra - 400023, INDIA	C07281868
7	10391571	09/05/2014 *	187,824,921.00	PUNJAB & SIND BANK	J.K. SOMANI BLDG.,, BRITISH HOTEL LANE, FORT, MUM BAI, Maharashtra - 400023, INDIA	C07286156
8	10257355	09/05/2014 *	150,000,000.00	PUNJAB & SIND BANK	J.K. SOMANI BLDG.,, BRITISH HOTEL LANE, FORT, MUM BAI, Maharashtra - 400023, INDIA	C07460348
9	10168627	09/05/2014 *	600,000,000.00	PUNJAB & SIND BANK	J.K. SOMANI BLDG.,, BRITISH HOTEL LANE, FORT, MUM BAI, Maharashtra - 400023, INDIA	C07149818

* Date of charge modification

FIXED ASSETS

• Lease hold land
• Building
• Furniture
• Air Conditioner
• Office equipments

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.63.57
UK Pound	1	Rs.100.29
Euro	1	Rs.72.37

INFORMATION DETAILS

Information Gathered by :	GYA
Analysis Done by :	SUB
Report Prepared by :	RKI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--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		51

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.