MIRA INFORM REPORT
|
Report No. : |
349154 |
|
Report Date : |
14.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ABP NEWS NETWORK PRIVATE LIMITED (w.e.f. 16.01.2015) |
|
|
|
|
Formerly Known
As : |
MEDIA
CONTENT AND COMMUNICATIONS SERVICES (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, 3rd Floor, Boston House, Suren Road, Western Express
Highway, Andheri (East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-66160200 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
30.05.2002 |
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|
|
|
Com. Reg. No.: |
11-136072 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2914.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92132MH2002PTC136072 |
|
|
|
|
IEC No.: |
Not Applicable [As claimed by Company management the company does not
Export and Import] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM18640G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM0507A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Content Production and Broadcasting Three News Channels through the Television and Digital Media which includes Internet, Mobile and Direct-to-Home. |
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|
|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The company was originally incorporated with the name “Media Content and communications Services (India) Private limited” as a STAR Group company, but recently on 16th January 2015, the name of the company has changed to “ABP News networks Private Limited” it is a wholly owned subsidiary of ABP TV Private Limited. It currently broadcasts three news channels -ABP News (Hindi), ABP Ananda (Bengali) and ABP Majha (Marathi). As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but documents related to financial for the year ending 2014 is not available from any source. From the available financials of the year 2013, the company has moderate risk profile marked by losses from its operations, which has resulted in partial erosion of the networth base. However, from the indirect sources, we found that the company has earned profit of Rs.525 million on an operating income of Rs.3743.000 Million in FY15 against Profit after tax of Rs.2 million and operating income of Rs.2646.000 Million in FY14. Trade relations are fair. Business is active. Payment terms are reported to be regular. In view of aforesaid, the company can be considered for business dealings with usual trade terms and conditions. (NOTE: Partial information has taken from indirect source i. e ICRA) |
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 |
Long term rating = (A-) |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
July, 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
31-03-2015.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
TEL. NO.: 91-22-66160200)
LOCATIONS
|
Registered Office : |
301, 3rd Floor, Boston House, Suren Road, Western Express
Highway, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66160200 |
|
Fax No.: |
91-22-66160243 |
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E-Mail : |
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|
Website : |
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|
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|
Branch Office 1: |
A-37, Sector 60, Noida - 201307, Uttar Pradesh, India |
|
Tel. No.: |
91 120 4070000 / 200 |
|
Fax No.: |
91 120 40702133 |
|
Branch Office 2: |
|
DIRECTORS
AS ON 13.08.2014
|
Name : |
Mr. Aveek Kumar Sarkar |
|
Designation : |
Director |
|
Address : |
12/4 Ballygunge Park Road, Kolkata - 700019, West Bengal, India |
|
Date of Birth/Age : |
09.06.1945 |
|
Date of Appointment : |
19.09.2003 |
|
DIN No.: |
00224290 |
|
|
|
|
Name : |
Mr. Arup Kumar Sarkar |
|
Designation : |
Director |
|
Address : |
20, Madan Mohan Tola Street, Kolkata - 700005, West Bengal, India |
|
Date of Birth/Age : |
16.08.1946 |
|
Date of Appointment : |
19.09.2003 |
|
DIN No.: |
00200053 |
|
|
|
|
Name : |
Mr. Dipankar Das Purkayastha |
|
Designation : |
Director |
|
Address : |
Flat-2A, 23-B, Ballygunge Circular Road, Kolkata - 700019, West Bengal, India |
|
Date of Birth/Age : |
01.09.1947 |
|
Date of Appointment : |
24.11.2015 |
|
DIN No.: |
00194147 |
|
|
|
|
Name : |
Mr. Avijit Deb |
|
Designation : |
Director |
|
Address : |
1, Rajendra Deb Road, Po - Burabazar, Kolkata, 700007, West Bengal, India |
|
Date of Birth/Age : |
23.09.1947 |
|
Date of Appointment : |
01.09.2005 |
|
DIN No.: |
00047233 |
KEY EXECUTIVES
|
Name : |
Mr. Anupam Kumar Chugh |
|
Designation : |
Secretary |
|
Address : |
152, Kewalkunj Apartments, Plot No 46, Sector 13, Rohini, Delhi -110085, India |
|
Date of Birth/Age : |
01.09.1959 |
|
Date of Appointment : |
10.04.2007 |
|
PAN No.: |
AABPC8344E |
|
|
|
|
Name : |
Mr. Ashok Venkatramani |
|
Designation : |
Manager |
|
Address : |
51,Seagull Apartment, Carmichael, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
24.02.1964 |
|
Date of Appointment : |
23.12.2010 |
|
PAN No.: |
ADXPA6170D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.08.2014
|
Names of Shareholders |
No. of Shares |
|
ABP TV Private Limited, India |
291399999 |
|
Siddhartha Ghosh |
01 |
|
|
|
|
Total |
291400000 |
AS ON 13.08.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
99.99 |
|
Other |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Content Production and Broadcasting Three News Channels through the Television and Digital Media which includes Internet, Mobile and Direct-to-Home. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 |
PRODUCTION STATUS: NOT AVAILABLE
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 : |
· Axis Bank Limited |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Bengal Intelligent Park Building, Alpha,1st Floor, Block- EP and GP, Sector - V Salt lake Electronics Complex, Kolkata-700091, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFD5357J |
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|
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company : |
ABP TV Private Limited (CIN No.: U92113WB2000PTC092157) |
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|
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|
Ultimate Holding
company: |
ABP Private Limited (CIN No.: U22219WB1922PTC004503) |
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Companies holding
substantial interest in voting power of the Company : |
Star News Broadcasting Limited (SNBL) (Upto October 20, 2012) |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
291,400,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2914.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2914.000 |
2865.300 |
2865.300 |
|
(b) Reserves & Surplus |
(2640.457) |
(2379.315) |
(2508.994) |
|
(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) |
273.543 |
485.985 |
356.306 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
145.313 |
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 |
61.839 |
48.690 |
35.177 |
|
Total
Non-current Liabilities (3) |
207.152 |
48.690 |
35.177 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
112.885 |
49.791 |
85.308 |
|
(b)
Trade payables |
429.245 |
435.441 |
504.614 |
|
(c)
Other current liabilities |
217.704 |
224.624 |
285.664 |
|
(d)
Short-term provisions |
16.764 |
6.239 |
2.579 |
|
Total
Current Liabilities (4) |
776.598 |
716.095 |
878.165 |
|
|
|
|
|
|
TOTAL |
1257.293 |
1250.770 |
1269.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
304.567 |
296.734 |
299.232 |
|
(ii)
Intangible Assets |
5.192 |
5.537 |
3.461 |
|
(iii)
Capital work-in-progress |
22.891 |
0.435 |
30.587 |
|
(iv) Intangible assets under development |
0.398 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
161.801 |
97.116 |
109.122 |
|
(e)
Other Non-current assets |
0.055 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
494.904 |
399.822 |
442.402 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.249 |
0.338 |
0.081 |
|
(c)
Trade receivables |
585.141 |
548.295 |
639.236 |
|
(d)
Cash and cash equivalents |
106.124 |
158.628 |
75.337 |
|
(e)
Short-term loans and advances |
68.869 |
133.237 |
106.895 |
|
(f)
Other current assets |
2.006 |
10.450 |
5.697 |
|
Total
Current Assets |
762.389 |
850.948 |
827.246 |
|
|
|
|
|
|
TOTAL |
1257.293 |
1250.770 |
1269.648 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2443.623 |
2507.896 |
2288.500 |
|
|
|
Other Income |
66.927 |
105.270 |
47.800 |
|
|
|
TOTAL (A) |
2510.550 |
2613.166 |
2336.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
828.701 |
782.198 |
647.100 |
|
|
|
One-time expense for Brand Migration |
141.870 |
0.000 |
0.000 |
|
|
|
Other expenses |
1717.041 |
1608.060 |
1500.400 |
|
|
|
TOTAL (B) |
2687.612 |
2390.258 |
2147.500 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(177.062) |
222.908 |
188.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.773 |
15.671 |
30.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(193.835) |
207.237 |
158.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.307 |
77.558 |
64.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(261.142) |
129.679 |
94.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(261.142) |
129.679 |
94.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
9.963 |
11.146 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.90
|
0.45 |
0.33 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
4.687 |
0.000 |
109.892 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
(186.196) |
310.773 |
174.986 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(10.69) |
5.17 |
4.12 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(7.25) |
8.89 |
8.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(21.16) |
10.37 |
7.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.95) |
0.27 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.96 |
0.10 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.19 |
0.94 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2865.300 |
2865.300 |
2914.000 |
|
Reserves & Surplus |
(2508.994) |
(2379.315) |
(2640.457) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
356.306 |
485.985 |
273.543 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
145.313 |
|
Short term borrowings |
85.308 |
49.791 |
112.885 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
109.892 |
0.000 |
4.687 |
|
Total
borrowings |
195.200 |
49.791 |
262.885 |
|
Debt/Equity
ratio |
0.548 |
0.102 |
0.961 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2288.500 |
2507.896 |
2443.623 |
|
|
|
9.587 |
(2.563) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2288.500 |
2507.896 |
2443.623 |
|
Profit |
94.300 |
129.679 |
(261.142) |
|
|
4.12% |
5.17% |
(10.69%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10476595 |
15/10/2013 |
600,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST) |
B92074582 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
112.885 |
0.000 |
|
Other loans and advances, others |
0.000 |
49.791 |
|
|
|
|
|
Total |
112.885 |
49.791 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from Star News Centre,
Off Dr. E Moses Road, Mahalaxmi, Mumbai – 400011, Maharashtra, India to the
present address w.e.f. 09.03.2012.
CORPORATE INFORMATION
The company was incorporated in India on 30 May, 2002 and set up its business on 1 March, 2003. The Company is in the business of content production and broadcasting three news channels through the television and digital media which includes internet, mobile and Direct-to-Home.
BACKGROUND
The company was incorporated in India on 30 May, 2002 and set up its business on 1 March, 2003. The Company is in the business of content production and broadcasting three news channels through the television and digital media which includes internet, mobile and Direct-to-Home.
PERFORMANCE
During the financial year 2012-13, Companys total revenue has been Rs. 2510.500 Million compared to Rs. 2613.200 Million in the previous year, a decline of 3.93%. The Company registered a loss of Rs. 261.100 Million as compared to the profit of Rs. 129.700 Million in the previous year, a decline of 301.38%.This loss includes onetime expenses amounting to Rs. 141.900 Million forbrand migrationand break-up fee of Rs. 50.000 Million paid to Star India Private Limited.
The first half of the year saw an investment in the acquiring of and building of the brand ABP - with a view to migrating the current equity of the channels from the old brand names to the new ones and ensure that the changeover of brand name from `STAR to `ABP does not impact the business:
a. The viewership of ABP News increased from a 6 month average market share of 14% before rebranding to 16% (6 month average) post rebranding. Similarly, the viewership of ABP Ananda, already the leader in W.Bengal moved from market share of 36% before rebranding to 38% post rebranding. ABP Majha, the No. 1 news channel in Maharashtra and in Mumbai, held firmly at the market share of 44%.
b. As per a third party research, viewers echoed the selling point with 92% of those surveyed saying other than the name, nothing had changed in the channel, thus indicating a successful migration of the brands from the old to the new names without any loss in equity.
Despite of change in the brand, the Company maintained the market shares and hence the market rates.
However, the anticipated benefits on account of digitization in terms of like lower carriage and placement feesdid not fully materialize due to delayed implementation.
Though, the Company took proactive measures and cut costs to keep the increase to a minimum.
REVENUE
The revenues fell short over last year due to:-
Poor economic sentiments fall in shares of the news genre and drop in the growth rates of the M&E sector.
Unforeseen decline in DAVP, NFDC and other state government business due to very poor rates offered by the government, leading to an industry level boycott of government business. During the financial year, the Company’s revenue from government ministries declined by 74%.
OUTLOOK
2013-14 is expected to be a tough year with the full impact of recession settingin and TRAI regulations on inventory restrictions. Most predictions of media industry growth by syndicated groups pegged the likely growth rate of industry to be less than 5%. MCCS has targeted 15% growth to ensure that they grow faster than the market. Amongst the key legs of MCCS strategy is:-
· Driving new revenue streams through Non-FCT properties, events and special projects
· Additional revenue from elections (5 State election and 1 general election)
· Revival of DAVP business since industry level matter has been resolved between NBA and DAVP
· Revenue contribution of Punjabi Channel
· Geographical expansion focus on smaller towns and upcountry markets to generate retail revenue
· Reduction in carriage cost on account of benefit of DAS implementation in phase II towns
· Price increase to offset inventory reduction, backed up by strong content strategy.
It is expected that the implementation of the above strategies will help in achieving the desired objectives.
FIXED ASSETS:
·
Plant and Equipment
·
Other plant and Equipment
·
Furniture and Fixtures
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUV |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.