MIRA INFORM REPORT

 

 

Report No. :

339420

Report Date :

27.11.2015

 

IDENTIFICATION DETAILS

 

Name :

NINESTARS INFORMATION TECHNOLOGIES PRIVATE LIMITED [w.e.f.18.08.2015]

 

 

Formerly Known As :

9STARS INFORMATIONS TECHNOLOGIES PRIVATE LIMITED [w.e.f.22.07.2015]

 

NINESTARS INFORMATION TECHNOLOGIES PRIVATE LIMITED [w.e.f.28.02.2014]

 

NINESTARS INFORMATION TECHNOLOGIES LIMITED

 

 

Registered Office :

72, Greams Road, Thousand Lights, Chennai – 600006, Tamilnadu

Tel. No.:

91-44-28295838

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

05.04.1999

 

 

Com. Reg. No.:

18-050637

 

 

Capital Investment / Paid-up Capital :

Rs. 50.874 Million

 

 

CIN No.:

[Company Identification No.]

U72200TN1999PTC050637

 

 

IEC No.:

0406019665

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEN04866B

 

 

PAN No.:

[Permanent Account No.]

AABCN0949B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Providing Digital, Media Monitoring Digitalization Services.

 

 

No. of Employees :

1722 (928 in Office and 794 in Branch Office) (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1999 having satisfactory track record.

 

Subject is engaged in the business of providing digital, media monitoring digitalization services.

 

Available financial indicates company sound financial risk profile marked by healthy networth position with low borrowings recorded and favorable gap between trade payables and trade receivables of the company.

 

Further the rating also takes into consideration good profit margin of the company.

 

Directors are reported to be well experienced and knowledgeable businessmen.

 

Trade relations are reported as fair. Business is active. Payment terms are reported as usually correct and as per commitment.

 

In view of long track record and sound financial base, the company can be considered normal for business dealings at usual trade terms and conditions. 

 

NOTES :

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

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

INDIA RATING

Rating

Long Term Issuer Rating = BBB- [Suspended]

Rating Explanation

Moderate degree of safety and carry moderate credit risk.

Date

June 2015

 

Reason for Suspension: Due to lack of adequate information to undertake rating.

 

 

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 PARTED BY

 

Name :

Mr. B. Baranidharan

Designation :

Vice President - Finance

Contact No.:

91-9940136442

Date :

12.10.2015

 

 

LOCATIONS

 

Registered Office :

72, Greams Road, Thousand Lights, Chennai – 600006, Tamilnadu, India

Tel. No.:

91-44-28295838/ 42925100

Mobile No.:

91-9940136442 [Mr. B. Baranidharan]

Fax No.:

91-44-28271559

E-Mail :

aravindan.r@ninestars.in

viswanath.p@ninestars.in

contactus@ninestars.in

Website :

http://www.ninestars.in

Location :

Rented

 

 

Branch Office 1 :

No. 10, MASS IV, 3rd Floor, Bannerghatta Road, J P Nagar 3rd Phase, Bangalore – 560078, Karnataka, India

Tel. No.:

91-80-43462121

 

 

Branch Office 2 :

No. 69, Vallal Pachaiyappan Street, Kanchipuram, Tamilnadu, India

Mobile No.:

91-7401222115

 

 

Branch Office 3 :

Survey No. 234, Thiruchanoor Road, Sai Nagar, Tirupati, Andhra Pradesh, India

Mobile No.:

91-8688770005

 

 

Branch Office 4 :

53 JS Nivas, Barathi Stores Building, Old Nathan Road, Madurai – 625014, Tamilnadu, India

Tel. No.:

91-452-2649010

 

 

Branch Office 5 :

City Plaza Building, 209/5A, N.H. 45-A, Pudicherry-Villupuram Main Road, Oulgaret, Pondicherry [U.T.], India 

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Venkateshan Gopalakrishnan

Designation :

Director

Address :

No. 23, 5th B Cross, 16th Main, MCHS Layout, BTM 2nd Stage, Bangalore – 560076, Karnataka, India

Date of Birth/Age :

22.05.1958

Qualification :

B. Sc.

Experience :

20 Years

Date of Appointment :

02.04.2003

PAN No.:

ADJPG6886C

Background :

·         A visionary and evangelist in the content digitization space

·         Co-founded Ninestars in 1999.

·         Co- Founder Chairman at 2AdPro, a leading graphic design services provider

·         Co-Founder Chairman at DisplayTronics

·         An industry veteran with over two decades of experience in the FMCG sector

·         Certified EDP/ACE from MIT

·         Bachelor's degree in Science from Loyola College and masters in Human Resource Management from Madras University.

DIN No.:

01513891

 

 

Name :

Mr. Varadarajulu Gokulakrishnan Venkatesa Perumal

Designation :

Director

Address :

Plot NO. 1901/1, D. No. 33/1, Y Block, 3rd Street, Shanti Colony, Annanagar, Chennai - 600040, Tamilnadu, India

Date of Birth/Age :

07.11.1963

Qualification :

B.E. (CS)

Experience :

20 Years

Date of Appointment :

02.04.2003

PAN No.:

AFKPG5531R

Background :

·         Co-founder of 2AdPro and is currently a director

·         Co- founder of DisplayTronics and is currently Managing Director

·         Over 2 decades of experience with multinational publishers

·         Bachelor's degree in Applied Computer Science from the College of Engineering, Guindy

DIN No.:

01769321

 

 

Name :

Mr. Ramanathan Vairavan

Designation :

Director

Address :

1076, Poonamallee High Road, Chennai - 600084, Tamilnadu, India

Date of Birth/Age :

11.04.1948

Date of Appointment :

09.10.2008

DIN No.:

02366723

 

 

Name :

Mrs. Harini Satyaprakash

Designation :

Additional director

Address :

203, B Block, Elegance Lalbagh View, Sidapura, Bangalore - 560011, Karnataka, India

Date of Birth/Age :

12.02.1947

Experience :

10 Years

Date of Appointment :

31.03.2015

DIN No.:

07143864

 

 

Name :

Mr. Subhash Shamprasad Tiwari

Designation :

Additional director

Address :

D-202, Adarsh Residency, 8th Block, Jayanagar, Bangalore - 560082, Karnataka, India

Date of Birth/Age :

01.06.1964

Experience :

20 Years

Date of Appointment :

28.12.2012

DIN No.:

00047572

 

 

KEY EXECUTIVES

 

Name :

Mr. B. Baranidharan

Designation :

Vice President - Finance

 

 

Name :

Chinni Krishnan

Designation :

COO - Operations

Background :

·         Over 18 years of experience in process and delivery

·         Previously managed delivery relationships with large US-based clients such as Pearson, Lexis-Nexis, West Thomson, Net Library, RRD, United Health Care and Airborne Express

·         Previously divisional head of eBooks at Larson India

·         BA in Economics and a Post Graduate Diploma in Business Administration from Annamalai University

 

 

Name :

Aravindan

Designation :

Chief Financial Officer

Background :

·         Chartered Accountant with over 25 years of extensive experience in Profit Centre

·         Management, Corporate Finance, Corporate Restructuring, Management- Consulting and Advisory, Accounting, Taxation and Auditing, Business Development and Human Resources.

·         He has held several senior management positions as Managing Director, CEO and CFO at various companies like Stanley Lifestyles, Alufit (India) Private Limited, Innovision Foods Private Limited

·         Successfully sourced private equity to fund retail expansion

·         Awaiting Ph. D in working capital management he holds a PGDFM from IFMR and has taught at IFMR for Institutional programs and has published research papers

 

 

Name :

Mr. Mohan Doshi

Designation :

EVP - Technical

Background :

·         Mohan is an Expert in the design and delivery of cost-effective, high performance information technology infrastructures and applications to address complex business problems.

·         He has Extensive experience in all facets of project life cycle, from initial feasibility analysis and conceptual design through documentations, implementation, deployment and enhancement.

·         Presently architecting solutions to empower the Ninestars operations to move towards a decentralized mode.

·         Successfully architected and developed the Job Direct platform for Ad2Pro Media solutions

·         Designed and implemented various web based and client server based systems for the Automated Vehicle Solutions System at MCI lnc, San Jose, CA.

·         Bachelor of Engineering (Electronics and Communication Engineering) Bharathiar University, Coimbatore (India). University 7th ranker.

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

 

Venkateshan Gopalakrishnan

 

2174020

V. Gokulakrishnan 

 

2223480

R. Aravindan

 

300

G. Geetha

 

300

V.S. Natraj

 

300

V.S. Gopalaswamy

 

300

G. Roopashree

 

300

Raju Vasanthraj

 

20

Mohan Kumar Doshi

 

50000

Aahana Innovations, India 

 

599980

 

 

 

Total

 

 

5049000

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

87.11

Other top fifty shareholders

12.89

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Providing Digital, Media Monitoring Digitalization Services.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Credit [60 Days]

 

 

Purchasing :

Credit [60 Days]

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

1722 (928 in Office and 794 in Branch Office) (Approximately)

 

 

Bankers :

·         Bank of Baroda

Mount Road, Chennai, Tamilnadu, India

Account No.: 05280200000739

 

·         The Federal Bank Limited

Account No.: 11005500003302

 

·         The Federal Bank Limited

Account No.: 11000200090576

 

·         DBS Bank Limited

Account No.: 827210080866

 

·         DBS Bank Limited

Salarpuria, Windsor No.3 (Old No. 10), Ulsoor Road, Ward No. 78, Bangalore - 560042, Karnataka, India

Credit Limit = Rs. 270.000 Million

 

·         Union Bank of India

Overseas Branch, G. N. Chetty Road, T. Nagar, Chennai - 600017, Tamilnadu, India

 

·         The Federal Bank Limited

Mount Road Branch, 61 Anna Salai, Chennai - 600002, Tamilnadu, India

 

·         Vijaya Bank

Egmore Branch, Marshal Road, Chennai - 600008, Tamilnadu, India

 

Bank Name:

Not Divulged

Branch:

Not Divulged

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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loans

From Banks

[Secured by hypothecation of all movable assets, present and futures save and except book debts and subject to prior charges created in favour of banks on specific assets for securing working capital facilities]

32.999

45.651

Deposits – Employee security deposit

1.500

0.000

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

From Banks

[Secured by hypothecation of un-bill revenue and book debts and second charge on present and future movable and immovable block of assets of the company]

210.932

180.289

 

 

 

Total

 

245.431

225.940

 

Banking Relations :

--

 

 

Financial Institution :

·         First Leasing Company of India Limited

749, Anna Salai, Chennai - 600002, Tamilnadu, India

 

 

Auditors :

 

Name :

Ravi Deepak and Company

Chartered Accountants

Address :

41/45, Subramaniam Street, Abhiramapuram, Chennai – 600018, Tamilnadu, India

Tel. No.:

91-44-24661147

Mobile No.:

91-9884490400

E-Mail :

ravideepakandco@rediffmail.com

ravideepakandco@hotmail.com

Income-tax PAN of auditor or auditor's firm :

AADPR1492G

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Related Parties :

·         Displaytronics Reader Devices Limited

Address: 72, Greams Road, Thousand Lights, Chennai – 600006, Tamilnadu, India

Activity: Development of Digital Platform

 

·         Ad2pro Media Solutions

·         Ninestars Germany GmbH

·         Ninestars USA Inc.

·         Ninestars Singapore

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7,000,000

Equity Shares

Rs. 10/- each

Rs. 70.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,049,000

Equity Shares

Rs. 10/- each

Rs. 50.490 Million

 

 

 

 

 

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7,000,000

Equity Shares

Rs. 10/- each

Rs. 70.000 Million

 

 

 

 

 

Issued and Subscribed Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,125,922

Equity Shares

Rs. 10/- each

Rs. 51.259 Million

 

 

 

 

 

Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,087,444

Equity Shares

Rs. 10/- each

Rs. 50.874 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

50.874

50.490

49.500

(b) Reserves & Surplus

364.458

317.949

249.289

(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)

415.332

368.439

298.789

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

56.835

63.815

46.378

(b) Deferred tax liabilities (Net)

0.321

0.000

3.832

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

32.502

26.663

23.256

Total Non-current Liabilities (3)

89.658

90.478

73.466

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

212.309

182.065

182.570

(b) Trade payables

26.057

24.836

18.774

(c) Other current liabilities

68.565

74.218

49.205

(d) Short-term provisions

43.280

39.280

39.746

Total Current Liabilities (4)

350.211

320.399

290.295

 

 

 

 

TOTAL

855.201

779.316

662.550

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

104.609

133.214

123.009

(ii) Intangible Assets

98.428

29.659

38.558

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

71.065

70.046

56.479

(c) Deferred tax assets (net)

0.000

1.234

0.000

(d)  Long-term Loan and Advances

102.930

75.357

30.102

(e) Other Non-current assets

0.884

1.769

2.653

Total Non-Current Assets

377.916

311.279

250.801

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

155.991

159.006

84.131

(c) Trade receivables

107.752

89.702

107.800

(d) Cash and cash equivalents

33.057

33.780

90.159

(e) Short-term loans and advances

152.061

163.563

120.962

(f) Other current assets

28.424

21.986

8.697

Total Current Assets

477.285

468.037

411.749

 

 

 

 

TOTAL

855.201

779.316

662.550

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Revenue from Operations

760.137

691.643

589.859

 

 

Other Income

14.242

8.471

9.553

 

 

TOTAL                                     (A)

774.379

700.114

599.412

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Outsourcing Cost

47.915

92.279

32.677

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

3.015

(74.875)

(16.900)

 

 

Employees benefits expense

372.887

365.318

297.206

 

 

Administrative and Other Operating Expenses

168.110

151.284

144.630

 

 

Prior Period Items

0.000

0.000

6.997

 

 

TOTAL                                     (B)

591.927

534.006

464.610

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

182.452

166.108

134.802

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

33.721

29.055

21.774

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

148.731

137.053

113.028

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

57.446

43.259

30.749

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

91.285

93.794

82.279

 

 

 

 

 

Less

TAX                                                                  (H)

46.054

35.134

34.832

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

45.231

58.660

47.447

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

NA

475.544

468.472

 

 

 

 

 

 

Earnings Per Share (Rs.)

8.89

11.62

14.98

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term borrowings

33.680

42.935

23.963

 

 

 

 

Cash generated from operations

NA

NA

36.786

 

 

 

 

Net Cash flow from (used in) Operations

NA

10.205

24.566

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

5.95

8.48

8.04

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

24.00

24.02

22.85

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

11.64

13.25

13.58

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.22

0.25

0.28

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.73

0.78

0.85

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.36

1.46

1.42

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

49.500

50.490

50.874

Reserves & Surplus

249.289

317.949

364.458

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

298.789

368.439

415.332

 

 

 

 

Long-term borrowings

46.378

63.815

56.835

Short term borrowings

182.570

182.065

212.309

Current maturities of Long-term borrowings

23.963

42.935

33.680

Total borrowings

252.911

288.815

302.824

Debt/Equity ratio

0.846

0.784

0.729

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

589.859

691.643

760.137

 

 

17.256

9.903

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

589.859

691.643

760.137

Profit

47.447

58.660

45.231

 

8.04%

8.48%

5.95%

 

 

 

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

Yes

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

Yes

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

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

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

 

------------------------------------------------------------------------------------------------------------------------------

 

UNSECURED LOANS

 

(RS. IN MILLION)

 

PARTICULARS

 

31.03.2015

31.03.2014

LONG-TERM BORROWINGS

 

 

Loans and Advances from related parties

10.800

12.300

Other Loans and advances

11.536

5.864

SHORT TERM BORROWINGS

 

 

Loans and advances from related parties

1.377

1.776

 

 

 

Total

 

23.713

19.940

 

------------------------------------------------------------------------------------------------------------------------------

 

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

 

OPERATING STATEMENT

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

Projection

2015-16

Projection

2016-17

Projection

2017-18

 

 

 

 

 

1

Gross sales

 

 

 

 

1. Domestic sales

185.600

232.000

290.000

 

2. Export sales

718.500

898.100

1122.600

 

Add Other Revenue Income

9.900

12.400

15.500

 

 

 

 

 

 

Total

914.000

1142.500

1428.100

 

 

 

 

 

2

Less: Excise duty

--

--

--

 

Deduct Other income

9.900

12.400

15.500

 

 

 

 

 

3

Net Sales (item 1-item 2)

904.100

1130.100

1412.600

 

 

 

 

 

4

% age rise 9+) or Fall (-) in net sales as compared to previous year (annualised)

18.94

25.00

25.00

 

 

 

 

 

5

Cost of Sales

 

 

 

 

1. Stores and Other Items Used in the process of mfg.)

 

 

 

 

- Imported (Purchase)

--

--

--

 

- Indigenous

--

--

--

 

 

 

 

 

 

2. Other spares

 

 

 

 

- Imported

--

--

--

 

- Indigenous

--

--

--

 

 

 

 

 

 

3. Power and Fuel

14.167

17.001

20.401

 

 

 

 

 

 

4. Direct labour

481.336

553.536

636.567

 

(Factory wages and Salary)

52.66%

48.45%

44.57%

 

 

 

 

 

 

5. Other Trading/ Manufacturing Expenses

--

--

--

 

 

 

 

 

 

6. Depreciation and Amortisation of Quarry

71.147

53.360

40.020

 

 

 

 

 

 

7. Sub –Total (I to VI)

566.650

623.897

696.987

 

 

 

 

 

 

8. Add: Opening Stock-in process

155.991

135.991

115.991

 

 

 

 

 

 

Sub-Total

722.641

759.888

812.978

 

 

 

 

 

 

9. Deduct: Closing stock-in-process

135.991

115.991

95.991

 

 

 

 

 

 

10. Cost of Production

586.650

643.897

716.987

 

 

64.18%

56.36%

50.21%

 

 

 

 

 

 

11. Add: Opening Stock of Finished Goods

--

--

--

 

 

 

 

 

 

Sub-Total

586.650

643.897

716.987

 

 

 

 

 

 

12. Deduct: Closing Stock of Finished Goods

--

--

--

 

 

 

 

 

 

13. Sub-Total

586.650

643.897

716.987

 

 

 

 

 

6

Selling, General and Administrative Expenses

193.381

232.057

278.468

 

Working capital Interest

23.000

23.000

23.000

 

 

 

 

 

7

Sub-Total

803.029

898.953

1018.454

 

 

 

 

 

8

Operating Profit Before Interest

101.072

231.148

394.147

 

 

 

 

 

9

Interest (Term Loan)

9.674

5.804

3.483

 

 

 

 

 

10

Operating Profit after Interest

91.398

225.344

390.664

 

 

 

 

 

11

1. Add: Other Non-operating Income

 

 

 

 

Export Incentives

--

--

--

 

Misc. Income and Interest on Bank deposit

9.900

12.400

15.500

 

 

 

 

 

 

2. Deduct Other Operating Expenses

--

--

--

 

Prior Period Items

--

--

--

 

 

 

 

 

 

3. Net of Other Operating Income/ Expenses

9.900

12.400

15.500

 

 

 

 

 

12

Profit Before Tax/ Loss

101.298

237.744

406.164

 

 

 

 

 

13

Provision for Taxes/ Payment of Taxes

33.428

78.456

134.034

 

 

 

 

 

14

Net Profit/Loss

67.870

159.289

272.130

 

 

 

 

 

15

1. Drawings Paid/ Stocks Written off (Already pd+B.s.prov)

--

--

--

 

2. Dividend rate (%)

--

--

--

 

 

 

 

 

16

Retained Profit

67.870

159.289

272.130

 

 

 

 

 

17

Retained Profit (% age)

100%

100%

100%

 

Net Profit%

7.43%

13.94%

19.06%

 

EBITA

22.44%

28.00%

33.10%

 

------------------------------------------------------------------------------------------------------------------------------

 

ANALYSIS OF BALANCE SHEET

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

Projection

2015-16

Projection

2016-17

Projection

2017-18

 

CURRENT LIABILITIES

 

 

 

1

Short-term Borrowings From Bank (Including bills purchased, disc. And excess borrowing placed on repayment basis)

 

 

 

 

1. From Fedbank, Chennai

230.000

230.000

230.000

 

2. From Other Bank

--

--

--

 

 

 

 

 

 

Sub-Total

230.000

230.000

230.000

 

 

 

 

 

2

Short-Term Borrowing from Others

--

--

--

 

 

 

 

 

3

Sundry Creditors (Trade)

21.941

28.843

37.019

 

 

 

 

 

4

Advance payment from customers/ deposits from dealers

--

--

--

 

 

 

 

 

5

Provision for taxation

33.428

78.456

134.034

 

 

 

 

 

6

Dividend payable

--

--

--

 

 

 

 

 

7

Other statutory liabilities (due within one year)

5.000

5.000

5.000

 

 

 

 

 

8

Deposit/ installments of term loan DPGs/ debentures etc., (due within one year)

24.804

12.402

7.441

 

 

 

 

 

9

Other current liabilities and provisions (due within 1 year)

6.417

6.417

6.417

 

ICD taken

--

--

--

 

 

 

 

 

 

Sub-Total

91.590

131.118

189.911

 

 

 

 

 

10

TOTAL CURRENT LIABILITIES

321.590

361.118

419.911

 

 

 

 

 

 

TERM LIABILITIES

 

 

 

11

Debentures (not maturing within 1 Year)

--

--

--

 

 

 

 

 

12

Preference share (redeemable after 1 year)

--

--

--

 

 

 

 

 

13

Term loan (excld installments due within 1 year)

44.804

32.402

24.961

 

 

 

 

 

14

Deferred payment credits (excld installments due within 1 year)

32.863

35.363

37.863

 

 

 

 

 

15

Loan from directors (repayable after 1 year)

--

--

--

 

 

 

 

 

16

Other term liabilities

13.067

7.840

4.704

 

 

 

 

 

17

TOTAL TERM LIABILITIES

90.734

75.605

67.528

 

 

 

 

 

18

TOTAL OUTSIDE LIABILITIES

412.324

436.723

487.438

 

 

 

 

 

 

NET WORTH

 

 

 

19

Partners’ capital

65.490

65.490

65.490

 

 

 

 

 

20

General reserve

85.444

85.444

85.444

 

 

 

 

 

21

Revaluation reserve

--

--

--

 

 

 

 

 

22

Other reserves (excld. Provisions)

--

--

--

 

 

 

 

 

23

Surplus 9+)/ deficit 9-) in profit and loss account

257.194

416.482

688.612

 

 

 

 

 

24

Others (specify) increase in capital

--

--

--

 

 

 

 

 

25

NET WORTH

505.878

665.166

937.296

 

 

 

 

 

26

TOTAL LIABILITES

918.201

1101.889

1424.735

 

 

 

 

 

 

ASSETS

 

 

 

26

Cash and Bank balances

1.546

2.306

3.254

 

Deposits with Bks

135.000

280.000

580.000

 

 

 

 

 

27

Receivables other than deferred and exports (Including bills purchased and disc. By banks)

38.667

48.333

60.417

 

Export receivables including Bills purchased and discounted by banks)

119.750

149.683

187.100

 

 

 

 

 

28

Installments of deferred receivables  (due within 1 year)

--

--

--

 

 

 

 

 

29

Investments (Other than long term investments)

 

 

 

 

Government and other trustee securities

0.222

0.222

0.222

 

 

 

 

 

30

Inventory

 

 

 

 

1. Raw materials (including stores and other items in process of manufacture)

 

 

 

 

Imported

--

--

--

 

Indigenous

--

--

--

 

 

 

 

 

 

2. Stocks-in-process

135.991

115.991

95.991

 

 

 

 

 

 

3. Finished goods

--

--

--

 

 

 

 

 

 

4. Other consumable spares

 

 

 

 

Imported

--

--

--

 

Indigenous

--

--

--

 

 

 

 

 

31

Advances to suppliers of raw materials and stores/ spares

--

--

--

 

 

 

 

 

32

Advance payment of taxes

18.560

23.200

29.000

 

 

 

 

 

33

Other current assets

125.580

177.628

189.245

 

 

 

 

 

34

TOTAL CURRENT ASSETS

575.316

797.364

1145.229

 

 

 

 

 

 

FIXED ASSETS

 

 

 

35

Gross block (land and Building, Machinery, work-in-progress)

330.804

345.804

360.804

 

 

 

 

 

36

Depreciation to date

225.432

252.112

272.122

 

 

 

 

 

37

NET BLOCK

105.372

93.692

88.682

 

Quarry (net of amortised amount)

 

 

 

 

TOTAL FIXED ASSETS

105.372

93.692

88.682

 

 

 

 

 

 

OTHER NON-CURRENT ASSETS

 

 

 

38

Inv/ book debts/ advances/ deb. Which are not current assets

0.000

0.000

0.000

 

1. Investments in subsidiary companies/ affiliates

70.843

70.843

70.843

 

Others Fds with UBI

 

 

 

 

2. Advances to suppliers of cap. Goods and contractors

0.000

0.000

0.000

 

3. Deferred receivables >6 months (maturity exceeding 1 year)

0.000

0.000

0.000

 

4. Others/ security deposits

103.816

103.816

103.816

 

 

 

 

 

 

ICD given

0.000

0.000

0.000

 

 

 

 

 

39

Non-cons. stores and spares

0.000

0.000

0.000

 

 

 

 

 

40

Other non-current assets including dues from directors

0.000

0.000

0.000

 

 

 

 

 

41

TOTAL OTHER NON-CURRENT ASSETS

174.659

174.659

174.659

 

 

 

 

 

42

Intangible assets (patents, goodwill. Prel, expenses bad/ doubtful expenses not provided for etc.)

62.855

36.175

16.165

 

 

 

 

 

43

TOTAL ASSETS

918.201

1101.889

1424.734

 

 

 

 

 

 

TOTAL LIABILITIES

918.201

1101.889

1424.734

 

 

 

 

 

44

TANGIBLE NET WORTH

443.023

628.991

921.131

 

Adjusted TNW

443.023

628.991

921.131

 

 

 

 

 

45

NET WORKING CAPITAL

253.725

436.246

725.318

 

 

 

 

 

46

CURRENT RATIO

1.79

2.21

2.73

 

 

 

 

 

47

Total Outside Liabilities/ Tangible Net Worth

0.93

0.69

0.53

 

 

 

 

 

48

Total Term Liabilities/ Tangible Net worth

0.20

0.12

0.07

 

 

 

 

 

 

RATIOS NET OF REVALUATION RESERVES 

 

 

 

49

Tangible Net worth

443.023

628.991

921.131

 

 

 

 

 

50

Total Outside Liabilities/ Tangible Net Worth

0.93

0.69

0.53

 

 

 

 

 

51

Total Term Liabilities/ Tangible Net worth

0.20

0.12

0.07

 

 

 

 

 

52

Net Sales/ Total Tangible Assets

1.06

1.06

1.00

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MR. V. GOPALA KRISHNAN

 

(RS. IN MILLION)

 

DETAILS OF ASSETS

 

IMMOVABLE PROPERTY

 

PARTICULARS

 

31.03.2015

 

 

 

 

District

99/A, Sunny Brooks, Doddakannelli Village, Vartur Hobli, (Next to Wipro), Sarjapur Main Road, Bangalore - 560035

 

 

 

 

 

Area

16100 Sq. ft.

50% Share

70.000

 

 

 

 

Total

 

 

 

70.000

 

INVESTMENT IN GOVT. SECURITIES, INSURANCE, PF, GOLD AND VEHICLES

 

Name of Security

 

Original Value

 

 

Gold Ornaments/ Diamonds/ Silver

0.800

 

 

Total

 

0.800

 

STOCK IN PRIVATELY HELD COMPANIES

 

Company Name

 

Face Value

Market Value

 

 

 

Ninestars Information Technologies Limited

217.40

104.353

 

 

 

Ad2pro Media Solutions Private Limited

50.96

249.301

 

 

 

Total

 

 

353.654

 

 

TOTAL ASSETS

RS. 424.454 MILLION

 

 

DETAILS OF LIABILITIES

 

CHARGED ON IMMOVABLE PROPERTY

 

Nature of Liability

Limit

Outstanding Balance

 

 

 

Housing Loans [Magma Finance]

20.000

19.631

 

 

 

Total

 

20.000

19.631

 

TOTAL LIABILITIES

RS. 19.631 MILLION

 

 

NETWORTH

 

RS. 404.823 MILLION

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MR. V. GOKUL KRISHNAN

 

(RS. IN MILLION)

 

DETAILS OF ASSETS

 

PARTICULARS

 

31.03.2014

IMMOVABLE

 

Land and Building at

Door No. 33/1, 3rd Street, Y Block, Shanthi Colony, Annanagar, Chennai – 40 measuring Land and Building to the extent of 2217 Sq. ft. and 5408 Sq. ft. respectively [Market Value]

45.000

 

 

INVESTMENTS

 

Investment in Business

44.04% Equity Shares in Ninestars Information Technologies Private Limited [Paid up capital value] 

22.234

 

 

TOTAL ASSETS

 

67.234

 

LIABILITIES

 

PARTICULARS

 

31.03.2014

 

 

Mortgage Loans from The Federal Bank Limited [Mount Road Branch, Chennai]

26.593

 

 

TOTAL LIABILITIES 

 

26.593

 

 

NETWORTH

 

RS. 40.641 MILLION

 

------------------------------------------------------------------------------------------------------------------------------

 

COMPANY PROFILE

 

INTRODUCTION

 

Technology has dramatically changed the way content is created, distributed, shared and consumed across channels. Ninestars Information Technologies Private Limited has been a part of this digital shift since 1999, starting with milestone projects in newspaper archive digitization and over the years contributing to the digital transformation initiatives of more than 90 organizations worldwide.

 

Ninestars at a glance

Founding year: 1999, started as a digitisation firm

120+ customers worldwide

1500+ employees

9 locations

Partnerships:

ProQuest, IBM, LTU Technologies, Hewlett Packard, ACK Media

Industry Memberships:

WAN-IFRA, PPA, FIBEP and Audit Bureau of Circulations

Service focus:

Digitization, Indexing, Media Clipping, Book conversion (XML, ePub, .Mobi), Mobile Apps, Image Matching, Content Analysis, digital marketing

 

Ninestars' corporate office is in Bangalore and the Global Delivery Centre is located in Chennai.

 

 

CONTENT IS CORE AT NINESTARS

 

They provide digital content services that enable businesses to respond quickly to the changing expectations of their digital audience and grow revenue across channels. They have a unique portfolio of services comprising content digitization, clipping, indexing, digital distribution, mobile publishing, among others, placing them among a few in the industry who add value end{o-end, from digital conversion to consumption. Over the last 15 years, we have worked with global organizations in media, publishing, content distribution, government, media monitoring, libraries and enterprises.

 

Ninestars focuses on three key service streams: Digitization, Media Monitoring and Digital.

 

 

DIGITALIZATION SERVICES

 

Digitization is core at Ninestars. The Digitization stream covers services in both pure-play digitization and conversion to new age formats. From analog to digital, the services span from scanning and data entry to advanced OCR and meta-tag integration in both English and Non-English languages.

 

Their services are versatile to take the business requirements from archive digitization to current content delivery across web and mobile. Ninestars' domain expertise and home grown tools provide a high degree of automation and customization, which helps them address a diverse set of specifications and industry standards without compromising on scale.

 

Newspaper archive digitization is a market-leading service from Ninestars where they have worked with global media firms, libraries and content aggregators, delivering a cumulative 300 million pages. More recently, they have been working with Publishers, both trade and education, to convert books into digital formats such as ePub and .mobi.

 

 

KEY CUSTOMERS:

 

In India: Flipkart, Pearson, Rupa Publications, Penguin, McGraw Hill India, National Book Trust, The Times of India, The Hindu, Life Insurance Corporation of India (through HP), Aircel, and several other media firms and government agencies

 

International: National Library of Australia, The State and University Library of Denmark, National Library of Norway, ProQuest, Newsbank, JSTOR, The South China Morning Post, and several media and publishing firms

 

 

MEDIA MONITORING SERVICES

 

The impact of content delivery on decision-making is nowhere more apparent than in the world of media monitoring and analysis. Every day, millions of news articles are processed and mapped to specific keywords provided by customers and added to an ever-growing database. This data, the big data of content intelligence, is further analyzed by their customers and delivered in the form of reports.

 

Ninestars is working with 11 media monitoring agencies across time zones (New Zealand to Canada), digitally extracting articles and images, based on custom specifications, from global media coverage. They are market leaders in print media clipping, having crossed the milestone of 100 million content clips in 2013.

 

A list of services from the stream are provided below:

 

·         Content clipping (print, broadcast, web)

·         Content tracking and matching (text and image)

·         Summarization (print and broadcast media)

·         Transcription (video and audio content)

 

 Key customers: NLA Media Access, Precise, Kantar Media, iSentia, Opoint, among others.

 

 

DIGITAL SERVICES

 

Digital is the inevitable future for content. The phenomenal increase in content consumption on mobile devices and ubiquity of devices (tablets, smartphones and eReaders), make it an imperative for engaging audience for all forward-thinking companies.

 

Ninestars has a revenue-driven business model for mobile apps. Unlike a typical build-transfer approach, Ninestars offers a Build-Operate-Manage approach where the risk and reward are shared. A list of services from the stream are provided below:

 

Mobile app development:

·         Supports iOS, Android and Windows 8

·         Intuitive user experience

·         Content publishing engine

·         Advertising and subscription integration

 

eStore design and development

·         Content distribution platform on web and mobile

·         Dynamic eoatalogs

 

Key customers: The Hindu, BusinessLine, Amar Chitra Katha, National Book Trust, Katha, Covenant,

 

------------------------------------------------------------------------------------------------------------------------------

 

VALUATION REPORT

 

VALUATION REPORT OF THE PROPERTY (COMMERCIAL SITE WITH BUILDING) BELONGING TO MR. K.C. SATYA PRAKASH

 

(GENERAL DETAILS)

 

Name of the valuer :

H.S. Nagaraj

 

 

Since when in the banks approved panel :

37 Years

 

 

Date of visit :

21.06.2013

 

 

Purpose of visit :

To arrive at the value of the property as on to date

 

 

Persons accompanying/ available at the site

Mr. Jaishankar

 

 

DETAILS OF THE PROPERTY:

Name and address of the owner :

Mr. K. C. Satya Prakash

No. 106, 5th A Cross, ITI Colony, J. P. Nagar, I Phase, Bangalore – 560004

 

 

Complete address of the property :

Property No. 146, DVG Road, Basavanagudi, Bangalore – 560004, Karnataka, India

 

 

Extent of land :

North to South: 30’0”

East to West: 110’0”

Total=3300.00 Sq. ft.

 

 

Boundaries of the property :

North by: property bearing No. 148

South by: Property bearing No. 145

East by: DVG Road

West by: Conservancy Lane

 

 

Type/ class of construction :

Class II

 

 

DETAILS OF THE BUILDING:

Whether building constructed strictly according to the sanctioned plan:

Yes

 

 

Area of building :

Rear Building

 

GF, FF and Second floor

324.00 Sft

Front Building GF

1000.00 Sft

First Floor

1000.00 Sft

Second Floor

1000.00 sft

Third Floor

1000.00 Sft

Total

7240.00 Sft

 

 

 

Year of construction :

GF and FF-1991 and SF and TF-1995

 

 

If building under construction (Give full details)

Building already constructed

 

 

Any additions improvement carried out :

Nil

 

 

No. of floors :

GF+3 Floors

 

 

Cost of construction :

Rs. 4.382 Million

 

 

Amount of depreciation written down :

Rs. 0.876 Million

 

 

Present value :

Rs. 3.506 Million

 

 

Present condition/ state of building :

Good

 

 

PRESENT MARKET VALUE:

 

Commercial Site

3300.00 Sq. ft. @ 24000.00

Rs. 79.200 Million

Building

 

Rs. 3.506 Million

 

 

 

Total

 

 

Rs. 82.706 Million

Present depreciated value :

Rs. 82.706 Million

 

 

Market Value :

Rs. 82.706 Million

 

 

Market rate :

Rs. 20,000/- to 25,000/- per sft

 

 

Rate adopted :

Rs. 24,000/- per sft-Commercial Site

Rs. 550/- per sft-Rear Building

Rs. 650/- per sft-Front Building

 

 

Basis for the adopted rate :

Prevailing market rate of commercial site in this area and construction cost of building as on that date

 

 

Whether approach road is there from the main road :

Yes-40’wide asphalted road in front of the property

 

 

Residual life of the building :

50 years from the date of construction with proper maintenance from time to time

 

 

Location of the property :

This is located adjacent to DVG road in a good commercial area.

 

 

Classification of locality :

Commercial Class

 

 

Civic amenities :

Available

 

 

Proximity to surface communication :

Good

 

 

Distance from city/ corporation limits :

a.     Distance from central bus stand:

b.    City railway station:

c.     Corporation office:

Inside BBMP Limits

06 kms

06 kms

04 kms

 

 

Details of tax paid     Year of assessment     Amount     Date of tax paid     BBMP tax paid up to date

 

 

Particulars of insurance :

Not yet done

 

 

Since how long owing the property :

06.05.1990

 

 

Type of owner ship :

Sole

 

 

Purchase price :

Ancestral property hence no purchase price

 

 

Whether self-occupied :

Rented

 

 

No. of tenants :

Twelve

 

 

Total monthly income :

Rs. 1,00,000/- (per month)

 

 

Service items available :

Borewell water is provide

 

 

If the property is residential :

No

 

 

If the property is commercial :

Yes

 

 

Any encroachment, tenancy and other negative aspects :

No

 

 

Are these any slums this property :

No

 

 

Is there any burial ground or lake nearby :

No

 

 

Whether the property valued eared, if so :

No

 

------------------------------------------------------------------------------------------------------------------------------

 

VALUATION REPORT

 

VALUATION REPORT OF THE PROPERTY (VACANT RESIDENTIALLY CONVERTED SITE) BELONGING TO MR. V. GOPAL KRISHNAN

 

(GENERAL DETAILS)

 

Name of the valuer :

H. S. Nagaraj

 

 

Since when in the banks approved panel :

37 Years

 

 

Date of visit :

21.06.2013

 

 

Purpose of visit :

To arrive at the value of the property as on to date

 

 

Persons accompanying/ available at the site :

Mr. Jaishankar

 

 

DETAILS OF THE PROPERTY :

Name and address of the owner :

Mr. V. Gopal Krishna

@ V. Gopal Krishnan

S/o Late Venkateshan Perumal, Residing at No. 91/3, 9th Main, 3rd cross, BTM II Stage, Bangalore – 560076, Karnataka, India

 

 

Complete address of the property :

Land Bearing Sy No. 38/1, land Bearing Sy. No. 38/2 and Sy. No. 38/2 Nellurahalli Village, Krishnarajapuram Hobli, Bangalore, East, Taluk.

 

 

Extent of land (as per document) :

Sy. No. 38/1 = 07 Guntas

Sy. No. 38/2 = 07 Guntas

Sy. No. 38/2 = 07 Guntas

Total = 21 Guntas or Say 22,869.00 sft

 

 

Boundaries of the property :

Sy. No. 38/1

North by: Land of Uchellappa and Others

South by: Land of Nanjaiah

East by: Land of P. Narayanappa

West by: Land of Nanjaiah

 

Sy. No. 38/2

North by: Land of Hubballappa

South by: Land of Nanjaiah

East by: Land of Nanjaiah

West by: Land of P. Krishnappa

 

Sy. No. 38/2

North by: Land of Uchellappa

South by: Land of Nanjaiah

East by: Land of P. Krishnappa

West by: Land of P. Ramaiah

 

 

Type/class of construction :

Vacant Residentially converted sites

 

DETAILS OF THE BUILDING

Whether building constructed strictly according to the sanctioned plan :

Vacant Residentially Converted Sites

 

 

Year of construction :

Vacant residentially converted sites

 

 

If building under construction (Give full details)

Vacant Residential Converted Sites

 

 

Any additions improvement carried out :

NA

 

 

Cost of construction :

NA

 

 

Amount of depreciation written down :

NA

 

 

Present value :

NA

 

 

Present condition/ state of building :

Vacant Converted Residential Sites

 

 

PRESENT MARKET VALUE :

 

Converted Site

22869.00 sq. ft @ 4000.00

Rs. 91.476 Million

 

 

 

Total

 

 

Rs. 91.476 Million

 

 

BASIS OF PRESENT VALUE:

 

Present depreciated value :

Rs. 91.476 Million

 

 

Market value :

Rs. 91.476 Million

 

 

Market rate :

Rate adopted :

Guide line rate :

Rs. 3500/- to 4500/- per sft

Rs. 4000/- per sft-Converted Site

Rs. 1000/- sft

 

 

Basis for the adopted rate :

Prevailing market rate of converted residential site in this area.

 

 

Whether whole or part of the property notified for acquisition :

No

 

 

Location of the property :

This is located about 4 kms from Hopefarm Circle and Behind Saibaba Hospital in a Residentially Converted Rea.

 

 

Classification of locality :

Residential Class

 

 

Civic amenities :

Available

 

 

Proximity to surface communication :

Good

 

 

Details of tax paid      Year of Assessment      Amount      Date of Tax Paid      Tax Paid up to date

 

 

Distance from city/ corporation limits :

Distance from central bus stand :

Distance railway station :

Distance from corporation office :

Inside BBMP Limits

22 kms

22 kms

20 kms

 

 

Particulars of Insurance:

Vacant site not required

 

 

Since how long owing the property :

02.04.2007

 

 

Type of owned ship :

Sole

 

 

Whether self-occupied :

Vacant Residentially converted site

 

 

No. of tenants :

NA

 

 

Total monthly income :

NA

 

 

Service items available :

Borewell water is available

 

 

If the property is residential :

Yes

 

 

Whether approach road is there from the main road :

Yes-15’wide mud road in from main road

 

 

In which floor is located :

Vacant Residentially Converted Site

 

 

Any encroachment tenancy and other negative aspects :

No

 

 

Are there any slums around this property :

No

 

 

Is there any burial ground or lake nearby :

No

 

 

Whether the property valued earlier, if so :

No

 

------------------------------------------------------------------------------------------------------------------------------

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10477602

24/01/2014

14,100,000.00

DBS BANK LIMITED

SALARPURIA, WINDSOR NO.3 (OLD NO. 10), ULSOOR ROAD, WARD NO. 78, BANGALORE, KARNATAKA - 560042, INDIA

B96373055

2

10453021

24/01/2014 *

261,062,500.00

DBS BANK LIMITED

SALARPURIA, WINDSOR NO.3 (OLD NO. 10), ULSOOR ROAD, WARD NO. 78, BANGALORE, KARNATAKA - 560042, INDIA

B95891917

3

10453024

24/01/2014 *

20,000,000.00

DBS BANK LIMITED

SALARPURIA, WINDSOR NO.3 (OLD NO. 10), ULSOOR ROAD, WARD NO. 78, BANGALORE, KARNATAKA - 560042, INDIA

B96815220

4

10428261

03/05/2013

860,430.00

FIRST LEASING COMPANY OF INDIA LIMITED

749, ANNA SALAI,, CHENNAI, TAMILNADU - 600002, INDIA

B75932731

5

10416533

20/03/2013

1,476,678.00

FIRST LEASING COMPANY OF INDIA LIMITED

749, ANNA SALAI,, CHENNAI, TAMILNADU - 600002, INDIA

B72226525

6

10402045

24/01/2013

3,789,948.00

FIRST LEASING COMPANY OF INDIA LIMITED

749, ANNA SALAI,, CHENNAI, TAMILNADU - 600002, INDIA

B67731166

7

10396453

19/12/2012

2,872,944.00

FIRST LEASING COMPANY OF INDIA LIMITED

749, ANNA SALAI,, CHENNAI, TAMILNADU - 600002, INDIA

B65713281

8

10329412

26/12/2011

1,063,654.00

FIRST LEASING COMPANY OF INDIA LIMITED

749, ANNA SALAI,, CHENNAI, TAMILNADU - 600002, INDIA

B29769940

9

10316499

20/10/2011

920,166.00

FIRST LEASING COMPANY OF INDIA LIMITED

749, ANNA SALAI,, CHENNAI, TAMILNADU - 600002, INDIA

B24871899

10

10316476

10/10/2011

2,016,180.00

FIRST LEASING COMPANY OF INDIA LIMITED

749, ANNA SALAI,, CHENNAI, TAMILNADU - 600002, INDIA

B24860801

 

* Date of charge modification

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from No.11, Jagannathan Road, Nungambakkam, Chennai - 600034, Tamilnadu, India to the present address w.e.f.01.07.2006.

 

 

FIXED ASSETS:

 

Tangible Assets

·         Furniture and Fixture

·         Office Equipment

·         Computers

·         Vehicles

·         Plot

 

Intangible Assets

·         Patents and Copyrights

·         Software

·         Goodwill

 

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 records 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. 66.55

UK Pound

1

Rs. 100.64

Euro

1

Rs. 70.70

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

BVA

 

 

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

--PROFITABILIRY

1~10

5

--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

 

47

 

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.