|
|
|
MIRA INFORM REPORT
|
Report No. : |
502075 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
MIDDAY INFOMEDIA LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, RNA Corporate Park, Off. Western Express
Highway, Kalanagar, Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-33284800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-177808 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 198.703 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22130MH2008PLC177808 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0309003890 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAFCM4778H |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAFCM4778H1Z2 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Subject is engaged in the business of printing and publication of Newspapers in India. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1820000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Midday Infomedia Limited is a wholly owned subsidiary of Jagran
Prakashan Limited. It was incorporated in the year 2008. The rating reflect the financial and operational support that the
company receives from parent Jagran Prakashan, and the healthy market
position of its publications Mid-Day, Gujarati Mid-Day, and The Inquilab. As per the financial of 2017, the company has achieved 7.62% in its
revenue as compared to the previous year’s revenue and has reported a fair
profitability margin of 8.81%. The company possesses healthy financial position marked by sound
networth base along with negligible debt level and average liquidity
position. The rating strength is partially offset by susceptibility of its
operating margin to volatility in newsprint prices and economic cycles. Trade relations are fair. Business is active. Payment seems to be
regular. In view of strong holding and healthy market position of MIL’s brands,
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities = AA- |
|
Rating Explanation |
Have high degree of safety and very low
credit risk. |
|
Date |
14.07.2017 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 05.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-33284800)
(Tel. No.: 91-22-27644545 – Does not belongs to subject).
LOCATIONS
|
Registered Office : |
4th Floor, RNA Corporate Park, Off. Western Express
Highway, Kalanagar, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-33284800 |
|
Fax No.: |
91-22-26426812/ 26424934 |
|
E-Mail : |
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|
Website : |
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|
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|
Press : |
Plot No. R-847/3, T.T.C. Industrial Area MIDC Rabale, Navi Mumbai - 400709, Maharashtra, India |
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|
|
Branch Office : |
Located At: · Delhi · Bangalore · Pune ·
Goa · Chennai |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sanjay Narendra Mohan Gupta |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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Address : |
C-26, Friends Colony, East New Delhi - 110 065, India |
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Date of Birth/Age : |
20.12.1962 |
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Date of Appointment : |
14.07.2011 |
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DIN No.: |
00028734 |
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Other
Directorship :
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Name : |
Mr. Rajendra Kumar Jhunjhunwala |
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Designation : |
Director |
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Address : |
117/K/13, Gutaiya, Kanpur – 208025, Uttar Pradesh, India |
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Date of Birth/Age : |
18.08.1945 |
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Date of Appointment : |
15.09.2014 |
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DIN No.: |
00073943 |
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Other
Directorship :
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Name : |
Ms. Apurva Purohit |
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Designation : |
Director |
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Address : |
Flat No. 402, Sunrise Apartment Sai Road, Off Ambedkar Road, Near
Pali, Navi Mumbai – 400050, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
11.06.1961 |
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Date of Appointment : |
10.09.2015 |
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DIN No.: |
00190097 |
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Other
Directorship :
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shailesh Mahendra Mohan Gupta |
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|
Designation : |
Director |
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Address : |
Puran Niwas, 7/51, Tilak Nagar, |
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|
Date of Birth/Age : |
07.04.1969 |
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Date of Appointment : |
14.07.2011 |
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DIN No.: |
00192466 |
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Other
Directorship :
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|
Name : |
Mr. Shashidhar Narin Sinha |
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|
Designation : |
Director |
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Address : |
13, 905-906, Indrasadan Phase II, Oshiwara, Andheri (West), Mumbai – 400053,
Maharashtra, India |
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Date of Appointment : |
10.09.2015 |
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DIN No.: |
00953796 |
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Other
Directorship :
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Name : |
Mr. Amit Mahendra Kumar Dixit |
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Designation : |
Director |
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Address : |
The Imperial Apartment 2102, South Tower, B B Nakashe Marg, Tardeo, Mumbai – 400034, Maharashtra, India |
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Date of Birth/Age : |
26.01.1973 |
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Date of Appointment : |
14.07.2011 |
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DIN No.: |
01798942 |
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Other
Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Nilpesh Mahendra Shah |
|
Designation : |
Chief Financial Officer |
|
Address : |
C-103 Sudhir Park, S.N. Road, R. G. Patil Nagar, Mulund
(West), Mumbai 400080, Maharashtra, India |
|
Date of Appointment : |
08.08.2016 |
|
PAN No.: |
AXQPS5080H |
|
|
|
|
Name : |
Mr. Sandeep Jitender Khosla |
|
Designation : |
Chief Executive Officer |
|
Address : |
C2/155, 15th Floor, Com. SSS Nagar, Karamshetra, Next to Shanmukhanda, Hall Soin, Koliwada, Mumbai – 400037, Maharashtra, India |
|
Date of Appointment : |
01.03.2016 |
|
PAN No.: |
ALEPK8700A |
|
|
|
|
Name : |
Pranali Jitendra Parekh |
|
Designation : |
Company Secretary |
|
Address : |
D/501, Vasant Aradhana, Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
18.11.1987 |
|
Date of Appointment : |
22.04.2013 |
|
PAN No.: |
AZGPP7574B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Jagran Prakashan Limited |
|
19870321 |
|
Sanjay Gupta (Nominee shareholder for Jagran Prakashan Limited) |
|
1 |
|
Shailesh Gupta (Nominee shareholder for Jagran Prakashan Limited) |
|
1 |
|
R. K. Agarwal (Nominee shareholder for Jagran Prakashan Limited) |
|
1 |
|
Nilpesh Shah (Nominee shareholder for Jagran Prakashan Limited) |
|
1 |
|
Sandeep Khosla (Nominee shareholder for Jagran Prakashan Limited) |
|
1 |
|
Pranali Parekh (Nominee shareholder for Jagran Prakashan Limited) |
|
1 |
|
Total |
|
19870327 |
Equity Share Break up (Percentage of Total Equity)
As on 14.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of printing and publication of Newspapers in India. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||||
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Exports : |
Not Divulged |
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||||||
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Imports : |
Not Divulged |
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|
||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
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Facilities : |
|
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Auditors : |
|
|
Name : |
Price Waterhouse LLP Chartered Accountant |
|
Address : |
Building 8, 7th and 8th Floor, Tower B, DLF Cyber City, Gurugram – 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Jagran Prakashan Limited (CIN No.: L22219UP1975PLC004147) |
CAPITAL STRUCTURE
As on 14.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19870327 |
Equity Shares |
INR 10/- each |
INR 198.703
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
198.703 |
198.703 |
198.703 |
|
(b) Reserves & Surplus |
438.341 |
338.584 |
188.960 |
|
(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) |
637.044 |
537.287 |
387.663 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.880 |
4.405 |
150.319 |
|
(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 |
17.376 |
20.996 |
23.552 |
|
Total Non-current
Liabilities (3) |
20.256 |
25.401 |
173.871 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
18.291 |
91.323 |
75.000 |
|
(b) Trade
payables |
161.041 |
103.971 |
172.983 |
|
(c) Other current
liabilities |
103.817 |
112.784 |
125.352 |
|
(d) Short-term
provisions |
6.396 |
6.423 |
4.588 |
|
Total Current
Liabilities (4) |
289.545 |
314.501 |
377.923 |
|
|
|
|
|
|
TOTAL |
946.845 |
877.189 |
939.457 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
342.499 |
359.092 |
420.812 |
|
(ii)
Intangible Assets |
0.000 |
1.103 |
2.253 |
|
(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 |
7.087 |
13.668 |
17.000 |
|
(c) Deferred tax assets (net) |
34.769 |
45.936 |
17.846 |
|
(d)
Long-term Loan and Advances |
0.173 |
0.000 |
13.270 |
|
(e) Other Non-current
assets |
26.412 |
16.915 |
23.226 |
|
Total Non-Current
Assets |
410.940 |
436.714 |
494.407 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
25.010 |
20.204 |
73.112 |
|
(b)
Inventories |
104.141 |
80.062 |
113.831 |
|
(c) Trade
receivables |
269.947 |
224.996 |
192.620 |
|
(d) Cash
and cash equivalents |
47.007 |
6.628 |
35.863 |
|
(e)
Short-term loans and advances |
1.010 |
1.525 |
29.029 |
|
(f) Other
current assets |
88.790 |
107.060 |
0.595 |
|
Total
Current Assets |
535.905 |
440.475 |
445.050 |
|
|
|
|
|
|
TOTAL |
946.845 |
877.189 |
939.457 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1189.277 |
1105.025 |
1107.891 |
|
|
Other Income |
10.716 |
51.910 |
12.424 |
|
|
TOTAL |
1199.993 |
1156.935 |
1120.315 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
280.185 |
267.251 |
322.326 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
369.399 |
331.962 |
329.378 |
|
|
Other expenses |
321.334 |
265.538 |
328.728 |
|
|
TOTAL |
970.918 |
864.751 |
980.432 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
229.075 |
292.184 |
139.883 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2.796 |
24.045 |
27.440 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
226.279 |
268.139 |
112.443 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
63.092 |
70.010 |
84.653 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
163.187 |
198.129 |
27.790 |
|
|
|
|
|
|
|
Less |
TAX |
58.457 |
71.035 |
(14.265) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
104.730 |
127.094 |
42.055 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
10.351 |
9.101 |
6.606 |
|
|
TOTAL EARNINGS |
10.351 |
9.101 |
6.606 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
160.319 |
240.886 |
|
|
TOTAL IMPORTS |
NA |
160.319 |
240.886 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.27 |
6.40 |
2.12 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.525 |
1.383 |
0.435 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
207.050 |
192.725 |
160.467 |
|
Net cash flow from operating activity |
168.893 |
159.548 |
181.208 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
82.85 |
74.32 |
63.46 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
4.41 |
4.91 |
5.75 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
209.79 |
142.00 |
195.88 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.20 |
3.65 |
1.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.67 |
0.81 |
0.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.31 |
0.37 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.04 |
0.18 |
0.58 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.45 |
0.59 |
0.97 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.54 |
0.67 |
1.09 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
81.93 |
12.15 |
5.10 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
8.81 |
11.50 |
3.80 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.06 |
14.49 |
4.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.44 |
23.65 |
10.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.85 |
1.40 |
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.49 |
1.15 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.67 |
0.61 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.11 |
0.49 |
1.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.85 |
1.40 |
1.18 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
198.703 |
198.703 |
198.703 |
|
Reserves & Surplus |
188.960 |
338.584 |
438.341 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
387.663 |
537.287 |
637.044 |
|
|
|
|
|
|
long-term borrowings |
150.319 |
4.405 |
2.880 |
|
Short term borrowings |
75.000 |
91.323 |
18.291 |
|
Current Maturities of
Long term debt |
0.435 |
1.383 |
1.525 |
|
Total borrowings |
225.754 |
97.111 |
22.696 |
|
Debt/Equity ratio |
0.582 |
0.181 |
0.036 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
1107.891 |
1105.025 |
1189.277 |
|
|
|
(0.259) |
7.624 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
1107.891 |
1105.025 |
1189.277 |
|
Profit/(Loss) |
42.055 |
127.094 |
104.730 |
|
|
3.80% |
11.50% |
8.81% |
LEGAL
CASES
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 20/03/2018 |
|||||||
|
Lodging No. : |
NMSL/656/2018 |
Failing Date:- |
20/03/2018 |
Reg. No.:- |
NMS/598/2018 |
Reg. Date:- |
04/04/2018 |
|
Main Matter |
|||||||
|
Lodging No. : |
|
Reg. No.:- |
S/652/2017 |
||||
|
|
|||||||
|
Petitioner:- |
CROWN VATERINARY SERVICES PRIVATE LIMITED |
Respondent:- |
MID-DAY INFOMEDIA LIMITED |
||||
|
|
Resp. Adv.: |
SHARDUL AMARCHAND MANGALDAS (19160) |
|||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
||||||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTION |
||||
|
Next Date:- |
13/04/2018 |
Stage :- |
|||||
|
Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
||||||
|
|
|
||||||
|
Act. : |
Code of Civil Procedure 1908 |
||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 12/02/2018 |
|||||||
|
Lodging No. : |
NMSL/314/2018 |
Failing Date:- |
12/02/2018 |
Reg. No.:- |
NMS/326/2018 |
Reg. Date:- |
20/02/2018 |
|
Main Matter |
|||||||
|
Lodging No. : |
SL/474/2017 |
Reg.No.:- |
S/652/2017 |
||||
|
|
|
|
|
||||
|
Petitioner:- |
CROWN VATERINARY SERVICES PRIVATE LIMITED |
Respondent:- |
MID-DAY INFOMEDIA LIMITED |
||||
|
Petn.Adv:- |
HARIANI AND CO. (I1912) |
||||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
||||||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTION |
||||
|
Last Date:- |
28/02/2018 |
Stage:- |
|||||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
||||||
|
|
|
||||||
|
Act. : |
Code of Civil Procedure 1908 |
||||||
|
Bench:- Bombay |
||||
|
Presentation Date:- 22/01/2018 |
||||
|
Lodging No. : |
CONPL/18/2018 |
Failing Date:- |
22/01/2018 |
|
|
Main Matter |
||||
|
Petitioner:- |
NMSL/1736/2017 |
Reg. No.: |
NMS/164/2018 |
|
|
|
||||
|
Petitioner:- |
CROWN VATERINARY SERVICES PRIVATE LIMITED |
Respondent:- |
MID-DAY INFOMEDIA LIMITED |
|
|
Petn.Adv:- |
HARIANI AND CO. (I1912) |
|||
|
District:- |
MUMBAI |
|||
|
Bench:- |
SINGLE |
|||
|
Status:- |
Pre-Admission |
Category:- |
CONTEMPT MATTER SUIT |
|
|
Next Date:- |
11/04/2018 |
Stage:- |
CONTEMPT PETITION FOR HEARING |
|
|
Coram:- |
HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
|||
|
Last Date:- |
15/02/2018 |
Stage:- |
FOR AD-INTERIM RELIEF [ORIGINAL SIDE MATTERS] |
|
|
Last Coram:- |
HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
|||
|
|
|
|||
|
Act. : |
Code of Civil Procedure 1908 |
|||
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 |
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 |
NOTE: The registered office of the company has been shifted from Peninsula Centre, Dr. S. S. Road, Opposite Mahatma Gandhi Hospital, Parel (East), Mumbai – 400012, Maharashtra, India to the present address
BACKGROUND
The Company is a company limited by shares, incorporated and domiciled in India. The Company is engaged in the business of printing and publication of Newspapers in India and has registered office at 4th Floor, RNA corporate park, off western express highway, kalanagar, Bandra (East), Mumbai, Maharashtra, India. The Company is a public limited company and wholly owned subsidiary of Jagran Prakashan Limited (Holding company).
FINANCIAL REVIEW:
During the year, the Company has with continued efforts, brought positive growth and good profitability curve inspite of demonetization. The Company expects good business and returns in future as well. The Directors are hopeful for the coming year to be better than the year.
The Company, with bouquet of its publications in different languages viz., English, Gujarati and Urdu has maintained its niche position. On all key performance parameters, the Company has shown improvement. Sustainable cost management along with few other factors has resulted in growing profitability of the Company and helped improve profit margins. Also revenue from operation has increased from INR 1105.025 Million to INR 1189.277 Million y-o-y
Further, during the year, the Company has earned income of INR 1199.993 Million as compared to INR 1156.935 Million in last year. On the other side, Company has incurred expenditure of INR 1036.806 Million (previous year INR 958.806 Million) thereby giving Profit before Tax of INR 163.187 Million (previous year profit of INR 198.129 Million). After deducting thereto INR 58.457 Million towards tax expenses (previous year INR 71.035 Million), Net Profit after Tax was standing at INR 104.730 Million as compared to INR 127.094 Million in the previous year.
OPERATING RESULT AND
FUTURE OUTLOOK:
In the financial year FY 2016-2017, the Company has shown positive growth and good profitability curve inspite of adverse market conditions. The growth has been due to the focused approach taken towards each major vertical.
Midday’s continued growth projectile was scripted on the back of strong and consistent team effort. Marketing initiatives helped connect with readers and create brand awareness. Also, events like Derby, Hot property exhibitions, mid-day musical nights, Real Estate Icons, Gujarati mid-day Navratri Contest etc brought in huge community connect, engagement and lure.
Further, during the FY 2016-2017, the Company has come up with its p.m. edition – launch of English mid-day p.m. edition. Also, as the Company trigged the criteria for CSR, during the year, the Company was required to and as such undertook CSR activity for the first time.
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G53808929 |
10600680 |
YES BANK LIMITED |
09/10/2015 |
02/02/2016 |
11/09/2017 |
150000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI MUMBAI MAHARSHTRA 400018 INDIA |
|
2 |
C65950123 |
10381049 |
CENTRAL BANK OF INDIA |
26/09/2012 |
- |
21/09/2015 |
200000000.0 |
INDUSTRIAL FINANCE BRANCH, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
3 |
C65947715 |
10372034 |
CENTRAL BANK OF INDIA |
10/04/2012 |
- |
21/09/2015 |
200000000.0 |
INDUSTRIAL FINANCE BRANCH, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
4 |
B38224507 |
10237092 |
BANK OF BARODA |
06/08/2010 |
- |
25/04/2012 |
204400000.0 |
TARDEO BRANCH, EVEREST BUILDING 156-D, J. DADAJEE ROAD, TARDEO MUMBAI MAHARASHTRA 400034 INDIA |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 79.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.