MIRA INFORM REPORT
|
Report No. : |
343504 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BENNETT COLEMAN AND COMPANY LIMITED |
|
|
|
|
Registered
Office : |
The Times of India Building, D N Road, Mumbai - 400001,
Maharashtra |
|
Tel. No.: |
91-22-66353535 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.11.1913 |
|
|
|
|
Com. Reg. No.: |
11-000391 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2869.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22120MH1913PLC000391 |
|
|
|
|
IEC No.: |
0388167084 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB4373Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Printing and Publishing of
Newspapers. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (83) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an old and reputed company incorporated in the year 1913.
It is having fine track. BCCL’s flagship publications, The Time of India and the economic
Times, are India’s largest - selling English and financial dailies,
respectively. Rating continue to reflect the company’s strong market position as
India’s largest newspaper publishing group, healthy operating efficiency, and
robust financial risk profile. The company possesses strong and healthy
financials marked by decent profit margin and strong networth base. Trade relations are reported as praiseworthy. Business is active.
Payments are reported to be regular and as per commitment. In view of strong brand recognition along with decent financial
condition, the company can be considered best for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
02.01.2015 |
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 (91-22-66353535)
LOCATIONS
|
Registered Office : |
The Times of India Building, D N Road, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66353535/ 66354460/ 66354159 |
|
Mobile No.: |
91-9819128038 (Mr. Subramanium) |
|
Fax No.: |
91-22-22620144/ 22731737 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 25.08.2014
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Managing director |
|
Address : |
15, Moti Lal Nehru Marg, New Delhi, Delhi - 110011, India |
|
Date of Birth/Age : |
12.02.1966 |
|
Qualification: |
Management
Graduate from American Uni of Switzerland. |
|
Date of Appointment : |
27.06.2013 |
|
PAN No.: |
AEHPJ3012L |
|
DIN No.: |
00003962 |
|
|
|
|
Name : |
Mr. Samir Jain |
|
Designation : |
Managing director |
|
Address : |
15, Moti Lal Nehru Marg, New Delhi, Delhi - 110011, India |
|
Date of Birth/Age : |
22.06.1954 |
|
Qualification: |
B.A |
|
Date of Appointment : |
01.02.2010 |
|
DIN No.: |
00001337 |
|
PAN No.: |
AEHPJ3016Q |
|
|
|
|
Name : |
Mr. Shrijeet Ramakanta Mishra |
|
Designation : |
Whole-time director |
|
Address : |
Gitanjali Gardens, Flat No. 301, 68/E, NapeanSea Road,
Rungta Lane, Mumbai - 400006, Maharashtra, INDIA |
|
Date of Birth/Age : |
22.04.1965 |
|
Qualification: |
B.A, PGDM- IIM
Ahmedabad. |
|
Date of Appointment : |
11.08.2011 |
|
PAN No.: |
ABXPM9824C |
|
DIN No.: |
01894081 |
|
|
|
|
Name : |
Indu Jain |
|
Designation : |
Whole-time director |
|
Address : |
H. NO. 6, Sardar Patel Marg, New Delhi -110021, India |
|
Date of Birth/Age : |
08.09.1936 |
|
Qualification: |
Professional |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
AEHPJ3014N |
|
DIN No.: |
00004040 |
|
|
|
|
Name : |
Mr. Arunabh Das Sharma |
|
Designation : |
Whole-time director |
|
Address : |
W-129, Greater Kailash-1, New Delhi - 110048, India |
|
Date of Birth/Age : |
17.03.1968 |
|
Qualification: |
Graduation in
Economics, IIM Kolkata |
|
Date of Appointment : |
27.09.2013 |
|
PAN No.: |
AAAAA1234A |
|
DIN No.: |
03464498 |
|
|
|
|
Name : |
Mr. Raj Kumar Jain |
|
Designation : |
Whole-time director |
|
Address : |
AR 511 B, The Aralias, Golf Course Road, DLF City Phase 5,
Gurgaon - 122009, Haryana, India |
|
Date of Appointment : |
22.05.2015 |
|
DIN No.: |
01741527 |
|
|
|
|
Name : |
Mr. Satyan Gajwani |
|
Designation : |
Whole-time director |
|
Address : |
15, Motilal Nehru Marg, New Delhi - 110011, India |
|
Date of Appointment : |
19.09.2014 |
|
DIN No.: |
02691483 |
|
|
|
|
Name : |
Kalpana Jaisingh Morparia |
|
Designation : |
Director |
|
Address : |
B-92, Ocean Gold CHS, Twin Tower Lane, Prabhadevi, Mumbai
- 400025, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1949 |
|
Qualification: |
B.Sc. LL.B. |
|
Date of Appointment : |
14.09.2007 |
|
DIN No.: |
00046081 |
|
|
|
|
Name : |
Mr. Sanjay Kapoor |
|
Designation : |
Director |
|
Address : |
709-A Beverly Park-I, DLF-II, Gurgaon - 122002, Haryana,
India |
|
Date of Birth/Age : |
28.02.1962 |
|
Date of Appointment : |
11.11.2013 |
|
DIN No.: |
01973450 |
|
|
|
|
Name : |
Mr. Devi Prasad Shetty |
|
Designation : |
Director |
|
Address : |
Narayana, 393, 2nd Cross, 13th Main,, 3rd Block,
Koramangala,, Bangalore - 560034, Karnataka, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
00252187 |
KEY EXECUTIVES
|
Name : |
Kausik Brojendra Nath |
|
Designation : |
Secretary |
|
Address : |
A-202, Seaview Building, Charkop, Sector-8, Charkop,
Kandivali West, Mumbai - 400067, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1964 |
|
Date of Appointment : |
06.03.2012 |
|
PAN No: |
AACPN1272B |
|
|
|
|
Name : |
Mr. Shankar Narayan Ranganathan |
|
Designation : |
Chief Finance Officer |
|
Address : |
103, Solitaire, Hiranandani Gardens, Powai, Mumbai -
400076, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No: |
AACPR8736L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sanmati
Properties Limited, |
|
27981000 |
|
Bharat Nidhi
Limited, |
|
70041600 |
|
PNB Finance and Industries
Limited, |
|
26665848 |
|
Vineet Jain |
|
1642248 |
|
Samir Jain |
|
7200 |
|
Meera Jain |
|
943200 |
|
Camac Commercial
Company Limited, |
|
38161548 |
|
Arth Udyog
Limited, |
|
26719848 |
|
Jacaranda Corporate
Services Limited, |
|
25632000 |
|
T M Investments
Limited |
|
17093016 |
|
Ashok Viniyoga
Limited |
|
51707916 |
|
Trishla Jain |
|
360000 |
|
Total |
|
286955424 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.08.2014
|
Category |
Percentage |
|
Bodies corporate |
98.97 |
|
Directors or relatives of Directors |
1.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Printing and Publishing of
Newspapers. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
|
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|
||||||||||||||||||||||
|
Bankers : |
The United Bank of India Limited, 4 Narendra Chandra Datta Street Calcutta And, A Branch Office At Sir P.M. Road, Bombay - 400001, Maharashtra, India Bank of India, 70/80; M.G. Road, Bombay - 400023, Maharashtra, India
|
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|
||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors 1 : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar [West], Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
6, Karim Chambers, 40, Ambalala Doshi Marg, Mumbai-400023,
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL1893K |
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies,
including step down subsidiaries: |
|
|
|
|
|
Joint ventures (JV) |
|
|
|
|
|
Enterprises owned
or having significant influence by Key Managerial Personnel (ESM): |
|
|
|
|
|
Associate
Companies: |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs. 3000.000 Million |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
286955424 |
Equity Shares |
Rs.10/- each |
Rs. 2869.600 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 |
2869.600 |
2869.600 |
2869.600 |
|
(b) Reserves &
Surplus |
66654.100 |
58644.000 |
51449.300 |
|
(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) |
69523.700 |
61513.600 |
54318.900 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
1930.900 |
1151.500 |
900.100 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1930.900 |
1151.500 |
900.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3634.600 |
835.300 |
1357.900 |
|
(b) Trade payables |
7546.600 |
7084.400 |
7021.500 |
|
(c) Other current
liabilities |
17853.700 |
16285.800 |
11897.800 |
|
(d) Short-term provisions |
630.900 |
637.500 |
2091.000 |
|
Total Current Liabilities
(4) |
29665.800 |
24843.000 |
22368.200 |
|
|
|
|
|
|
TOTAL |
101120.400 |
87508.100 |
77587.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
17335.900 |
16718.200 |
15922.600 |
|
(ii) Intangible Assets |
53.100 |
0.400 |
0.000 |
|
(iii) Capital
work-in-progress |
72.900 |
1626.700 |
1987.800 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
40637.900 |
36541.700 |
33091.800 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8137.200 |
8684.400 |
5934.600 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
66237.000 |
63571.400 |
56936.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
14959.400 |
6681.200 |
3632.300 |
|
(b) Inventories |
6497.500 |
4122.200 |
5585.500 |
|
(c) Trade receivables |
9306.100 |
8403.900 |
7437.900 |
|
(d) Cash and cash
equivalents |
1849.200 |
2164.300 |
1908.700 |
|
(e) Short-term loans and
advances |
2242.900 |
2556.400 |
2080.200 |
|
(f) Other current assets |
28.300 |
8.700 |
5.800 |
|
Total Current Assets |
34883.400 |
23936.700 |
20650.400 |
|
|
|
|
|
|
TOTAL |
101120.400 |
87508.100 |
77587.200 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
55536.300 |
50416.300 |
48620.800 |
|
|
Other Income |
1059.900 |
1087.900 |
848.500 |
|
|
TOTAL (A) |
56596.200 |
51504.200 |
49469.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
15381.700 |
14645.500 |
14829.800 |
|
|
Purchases of
Stock-in-Trade |
547.600 |
464.500 |
70.200 |
|
|
Employees benefits
expense |
9371.700 |
8163.800 |
8185.800 |
|
|
Other expenses |
15517.700 |
14871.900 |
16402.700 |
|
|
TOTAL (B) |
40818.700 |
38145.700 |
39488.500 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
15777.500 |
13358.500 |
9980.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
326.300 |
130.700 |
124.300 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15451.200 |
13227.800 |
9856.500 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2497.000 |
2275.300 |
2292.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
12954.200 |
10952.500 |
7564.300 |
|
|
|
|
|
|
|
Less |
TAX (H) |
4742.600 |
3556.300 |
2191.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
8211.600 |
7396.200 |
5373.200 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
644.000 |
449.300 |
510.500 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend (including
Corporate tax on Dividend) |
201.500 |
201.500 |
200.100 |
|
|
Transfer to General
Reserve |
8000.000 |
7000.000 |
5234.300 |
|
|
Balance Carried to the
B/S |
654.100 |
644.000 |
449.300 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods: |
|
||
|
|
Publications |
19.400 |
19.900 |
19.900 |
|
|
Cassettes / CDs |
2.600 |
9.800 |
8.300 |
|
|
Advertisement Income |
489.500 |
391.100 |
477.800 |
|
|
Others |
92.500 |
85.900 |
53.100 |
|
|
TOTAL EARNINGS |
604.000 |
506.700 |
559.100 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
13275.800 |
9838.600 |
12517.800 |
|
|
Consumable Stores & Spare
parts |
399.000 |
350.100 |
337.800 |
|
|
Capital Goods |
916.000 |
1579.800 |
980.000 |
|
|
Traded Products |
0.000 |
0.700 |
0.000 |
|
|
TOTAL IMPORTS |
14590.800 |
11769.200 |
13835.600 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
Basic |
28.62 |
25.77 |
18.72 |
|
|
Diluted |
28.27 |
25.45 |
18.49 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
13992.200 |
17671.000 |
8657.400 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
14.79 |
14.67 |
11.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
28.41 |
26.50 |
20.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.44 |
22.20 |
17.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.18 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.05 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
0.96 |
0.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
2869.600 |
2869.600 |
2869.600 |
|
Reserves & Surplus |
51449.300 |
58644.000 |
66654.100 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
54318.900 |
61513.600 |
69523.700 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1357.900 |
835.300 |
3634.600 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1357.900 |
835.300 |
3634.600 |
|
Debt/Equity ratio |
0.025 |
0.014 |
0.052 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
48620.800 |
50416.300 |
55536.300 |
|
|
|
3.693 |
10.155 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
48620.800 |
50416.300 |
55536.300 |
|
Profit |
5373.200 |
7396.200 |
8211.600 |
|
|
11.05% |
14.67% |
14.79% |
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 |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
17/04/2015 |
|||||||
|
Lodging No.:- |
NMSL/1115/2015 |
Filing Date:- |
17/04/2015 |
Reg. No.:- |
NMS/581/2015 |
Reg. Date:- |
22/04/2015 |
|
|
Main Matter |
|
Lodging No.:- |
CCL/3361/2010 |
Reg No.:- |
CC/1/2011 |
|
Petitioner:- THE INDIAN NEWSPAPER SOCIETY |
|
Respondent:-BENNETT COLEMAN AND COMPANY LIMITED |
|
REVIEW OF OPERATIONS
PRINT
During the year, the flagship brand, Times of India achieved an overall growth in circulation. The Newspaper in Education (NIE) segment registered an impressive growth of over 8% as compared to previous year.
Economic Times maintained its market share for Business Dailies.
The company took a major step forward in languages through launch of Navbharat Times in Lucknow. This launch opens up a significant opportunity for NBT in the Hindi heartland.
Maharashtra Times launched two new editions in Jalgaon and Ahmednagar, further consolidating its position in the Western markets with a total of 8 editions.
The company recently launched Nav Gujarat Samay, a general interest daily in Gujarati language in the cities of Ahmedabad and Gandhinagar.
This launch makes the company the only newspaper group to have major publications in 5 Indian languages - Hindi, Marathi, Kannada, Bengali and Gujarati.
In a challenging business environment for Media industry, newspaper advertising spends grew by only 5% (Group M report 2014), the company achieved a growth of 8%. for the year 2013-14 the company successfully pursued a strategy of growth both in volume and yield. Global Newsprint demand continued to decline (~1%) and capacity closures followed, led by North American and European mills. Indian Newsprint consumption growth remained at 6%.
Imported Newsprint upward price trend was contained but publishers had to bear the brunt of a volatile and depreciated Rupee. Keeping pace with imported newsprint rates, prices of indigenous mills were also marked up.
TV
Zoom
During the year, the channel maintained its viewership share while the segment saw lot of competition. The channel continued to grow on the social media networks and became the first Indian TV brand to cross the 7 million mark on Facebook. In April 2013 zoOm launched a new digital channel on YouTube Telly Talk India which has grown to over 2.3 crore views by 31st March 2014.
ET-NOW
During the year, ET NOW continued to remain the definitive choice of viewers in the English Business News category and dominated the genre. On the content and programming front, the channel continued to add newer formats both during weekdays and weekends, even as it strengthened its core proposition of market-moving stories and superior stock recommendations based on technical analysis.
ET NOW also hosted its first-ever India Economic Conclave, which is a national thought leadership platform meant to spotlight and address key economic challenges facing the country. It was well received by all the stakeholders, including the government, industry and civil society.
ROMEDY NOW
During the year a new channel Remedy Now was launched on 22nd September 2013. Romedy NOW is a first of its kind Premium English Entertainment Channel ushering Love and Laughter together for the first time on Television. The channel caters to the Urban affluent audiences across all 8 metros and has established its leadership in a span of just 7 months from its launch.
Romedy NOW has won a number of laurels in the first year of its launch : The channel won the Promax Gold for the Best On-Air Branding Design. The channel was awarded the Broadcaster Abby (Bronze) for the Best TV channel launch at The Goafest 2014 and won 2 awards for Print innovations for its launch campaign at the Exchange4medias Ink Awards 2014.
MUSIC
During the year, Times Music continued its leadership in Indian Classical, Devotional, Spiritual and Wellness genres with an impressive turnover.
CORPORATE INFORMATION
Subject is primarily engaged in the business of publication of newspapers. The Company publishes the highest selling English broadsheet daily in the world, i.e., The Times of India. Apart from this the Company publishes newspapers like The Economic Times, Navbharat Times, Maharashtra Times, etc. It also houses three television channels zoOm ET Now and Romedy Now. The Company has subsidiaries which are engaged in the areas of internet, e-commerce, radio, television, out of home, etc.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Rupee term loans from banks |
1264.600 |
683.700 |
|
Total |
1264.600 |
683.700 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10123441 |
10/09/2008 |
1,484,954,500.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
HONGKONG BANK BUILDING, 52/60, MAHATMA GANDHI ROAD |
A46082657 |
|
2 |
10087720 |
14/01/2008 |
2,490,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASH |
A30430003 |
|
3 |
10052869 |
31/05/2008 * |
5,950,000,000.00 |
STANDARD CHARTERED BANK (ACT AS AGENT FOR ITSELF & |
90, MAHATMA GANDHI ROAD,, FORT,, MUMBAI, MAHARASH |
A39272349 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
Intangible assets
- Copyrights
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.65.74 |
|
UK Pound |
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
10 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
83 |
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.