|
|
|
MIRA INFORM REPORT
|
Report No. : |
502102 |
|
Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
DILIGENT MEDIA CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
18th Floor, A Wing, Marathon Futurex, N M Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-39888888 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
17.02.2005 |
|
|
|
|
Com. Reg. No.: |
11-151377 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 890.955 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22120MH2005PLC151377 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCD1338F1Z0 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD1338F |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Subject is presently is in the business of Publication of newspapers.
(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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 2400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
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|
|
|
Litigation : |
Exists |
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|
|
Comments : |
Subject was established in the year 2005. It is engaged in publishing of DNA newspaper, an English Daily newspaper. The company got listed on Stock Exchanges on 11th December 2017. For the financial year 2017, the company reported 15.27% decline in the revenue as compared to the previous year along with operational loss. The moderate financial risk profile is marked by eroded net worth due to accumulated losses. Rating also takes into account the strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Payment seems to be slow and delayed. In view of aforesaid, the company can be considered for business dealings with some caution. Note 1: The Company is listed on BSE since 11th December 2017 and currently is trading however, as per Registrar of Companies the company is shown as “Unlisted” and is yet to be updated. Note 2: Pursuant to the Scheme of arrangement and amalgamation between Zee Media Corporation Limited (ZMCL), Diligent Media Corporation Limited (DMCL), Mediavest India Private Limited (Mediavest), Pri-Media Services Private Limited (Pri-Media), Maurya TV Private Limited (Maurya), the print media undertaking of ZMCL has been transferred to and vested in DMCL. In consideration of the demerger, DMCL shall issue its Equity Shares to the Shareholders of ZMCL in the ratio of 1 (one) Equity Shares of Re. 1 each for every 4 (four) Equity Shares of Re. 1 each held in ZMCL as on Record Date. Subsequently Print Media business will be consolidated into DMCL by way of Merger of Mediavest and Pri-Media with DMCL with effect from 1st April 2017. |
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 |
ICRA |
|
Rating |
Long Term Borrowing (SO)= A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
06.11.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Borrowing (SO)= A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
06.11.2017 |
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
31-03-2016.
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 06.04.2018.
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 BY
|
Name : |
Mr. Bhatnagar |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-39888888 |
|
Date : |
05.04.2018 |
LOCATIONS
|
Registered Office : |
18th Floor, A Wing, Marathon Futurex, N M Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-39888888 / 71061234 |
|
Fax No.: |
91-22-43888000 / 23002107 |
|
E-Mail : |
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|
Website : |
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|
|
|
Press Address : |
EL-201, MIDC, Mahape, New Mumbai, Mahape – 4000705, Maharashtra, india
|
|
|
|
|
Mailing Address : |
11th Floor, Tower-3, Indiabulls Finance Centre,
Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400013, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vishal Anil Malhotra |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
8, Prem Court , J Tata Road, Churchgate, Mumbai – 400020, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.12.1975 |
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Date of Appointment : |
25.09.2015 |
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DIN No.: |
00129255 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mukund Galgali |
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|
Designation : |
Director |
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|
Address : |
204, 2nd Floor, Dosti Florentine India Hume Pipe Compound, Wadala (East), Mumbai – 400031, Maharashtra, India |
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|
Date of Birth/Age : |
26.07.1973 |
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|
Date of Appointment : |
30.09.2013 |
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PAN No.: |
ACQPG6557Q |
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DIN No.: |
01998552 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Uma Manoj Mandavgane |
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Designation : |
Director |
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|
Address : |
504, Sai Sharan, 5th Floor N.C Kelkar Road, Dadar, Mumbai – 400098, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
02.01.1967 |
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Date of Appointment : |
29.05.2015 |
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DIN No.: |
03156224 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ramchandran Vasudevan Ammanur |
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Designation : |
Additional Director |
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|
Address : |
Plot No. 25 and 27, Flat D-113, Sector 6, Nerul, Navi Mumbai – 400706, Maharashtra, India |
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Date of Appointment : |
01.09.2017 |
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DIN No.: |
06926801 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Mediavest India Private Limited, India |
|
890955120 |
|
Mediavest India Private Limited jointly with Punit Goenka |
|
50 |
|
Mediavest India Private Limited jointly with Himanshu Mody |
|
50 |
|
Mediavest India Private Limited jointly with Ashok
Sanghavi |
|
50 |
|
Mediavest India Private Limited jointly with Dinesh
Kanodia |
|
50 |
|
Mediavest India Private Limited jointly with Mukund Galgali |
|
50 |
|
Mediavest India Private Limited jointly with Pushpal
Sanghavi |
|
50 |
|
Total |
|
890955420 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Zee Media Corporation Limited |
|
4362656265 |
|
Total |
|
4362656265 |
Equity Share Break up (Percentage of Total Equity)
As on 20.07.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is presently is in the business of Publication of newspapers.
(Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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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No. of Employees : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
B S Sharma and Company Chartered Accountants |
|
Address : |
303, Level 3, Guruprabha CHS Limited, 507-508 TPS IV, Sunder Nagar, Senapati Bapat Road, Dadar (West), Mumbai - 400 028, Maharashtra, India |
|
Tel. No.: |
91-22-40030929 / 24368252 / 66623197 |
|
E-Mail : |
|
|
Website: |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABPS8241E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
(U92132MH2001PTC130426) |
|
|
|
|
Ultimate Holding
Company : |
|
|
|
|
|
Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
After 20.07.2017
Authorised Capital : INR 6005.500 Million
Issued, Subscribed & Paid-up Capital : INR 4480.364
Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1535000000 |
Equity Shares |
INR 10/- each |
INR 1535.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
890955420 |
Equity Shares |
INR 10/- each |
INR 890.955
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 |
890.955 |
890.955 |
890.955 |
|
(b) Instruments entirely
equity in nature |
4348.303 |
4348.303 |
0.000 |
|
(c) Other Equity |
(4377.765) |
(4121.287) |
0.000 |
|
(d) Reserves & Surplus |
0.000 |
0.000 |
(4037.478) |
|
(e) 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) |
861.493 |
1117.971 |
(3146.523) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4362.656 |
0.000 |
3285.803 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
7.276 |
8.921 |
15.947 |
|
(d) long-term provisions |
13.989 |
10.417 |
7.838 |
|
Total
Non-current Liabilities (3) |
4383.921 |
19.338 |
3309.588 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
777.600 |
|
(b) Trade payables |
305.571 |
151.805 |
134.174 |
|
(c) Other current liabilities |
448.141 |
277.020 |
372.753 |
|
(d) Short-term provisions |
0.467 |
1.157 |
1.369 |
|
Total
Current Liabilities (4) |
754.179 |
429.982 |
1285.896 |
|
|
|
|
|
|
TOTAL |
5999.593 |
1567.291 |
1448.961 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
28.446 |
28.689 |
35.345 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.286 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4362.656 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1040.088 |
906.046 |
857.447 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
40.825 |
|
(e) Other Non-current assets |
47.267 |
45.981 |
0.000 |
|
Total
Non-Current Assets |
5478.743 |
980.716 |
933.617 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
88.981 |
46.545 |
19.300 |
|
(c) Trade receivables |
161.381 |
161.387 |
163.521 |
|
(d) Cash and cash equivalents |
72.702 |
95.498 |
35.866 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
296.657 |
|
(f) Other current assets |
197.786 |
283.145 |
0.000 |
|
Total
Current Assets |
520.850 |
586.575 |
515.344 |
|
|
|
|
|
|
TOTAL |
5999.593 |
1567.291 |
1448.961 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
853.120 |
1006.922 |
1021.949 |
|
|
Other Income |
63.212 |
102.776 |
60.510 |
|
|
TOTAL
|
916.332 |
1109.698 |
1082.459 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
300.793 |
309.110 |
392.037 |
|
|
Operational Expenses |
333.576 |
369.322 |
0.000 |
|
|
Employees benefits expense |
197.786 |
168.169 |
294.073 |
|
|
Other expenses |
463.783 |
374.071 |
777.816 |
|
|
TOTAL |
1295.938 |
1220.672 |
1463.926 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
(379.606) |
(110.974) |
(381.467) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.046 |
11.853 |
73.424 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(383.652) |
(122.827) |
(454.891) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
4.840 |
12.319 |
28.005 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(388.492) |
(135.146) |
(482.896) |
|
|
|
|
|
|
|
Less |
TAX |
(133.340) |
(49.690) |
(257.951) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(255.152) |
(85.456) |
(224.945) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.464 |
1.612 |
1.961 |
|
|
TOTAL
EARNINGS |
2.464 |
1.612 |
1.961 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Newsprint |
379.655 |
357.010 |
292.267 |
|
|
TOTAL
IMPORTS |
379.655 |
357.010 |
292.267 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(0.29) |
(0.10) |
(2.52) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(14.554) |
(183.621) |
(1055.085) |
|
Net cash flow from operating activity |
(15.407) |
(190.014) |
(1065.638) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
69.05 |
58.50 |
58.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.29 |
6.24 |
6.25 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
370.80 |
179.25 |
124.92 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(4.27) |
(2.38) |
(19.77) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(13.21) |
(3.87) |
(10.79) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.85 |
0.27 |
3.16 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
5.06 |
0.00 |
(1.29) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.88 |
0.38 |
(0.41) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.03 |
0.03 |
(0.01) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(93.82) |
(9.36) |
(5.20) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(29.91) |
(8.49) |
(22.01) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(4.25) |
(5.45) |
(15.52) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(29.62) |
(7.64) |
7.15 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.69 |
1.36 |
0.40 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.57 |
1.26 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.14 |
0.71 |
-2.17 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.90 |
0.00 |
4.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.69 |
1.36 |
0.40 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 8.04/- |
FINANCIAL ANALYSIS
[all figures are
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 |
890.955 |
890.955 |
890.955 |
|
Reserves & Surplus |
(4037.478 |
0.000 |
0.000 |
|
Instruments entirely equity in
nature |
0.000 |
4348.303) |
4348.303) |
|
Other Equity |
0.000 |
(4121.287) |
(4377.765) |
|
Net
worth |
(3146.523) |
1117.971 |
861.493 |
|
|
|
|
|
|
Long Term borrowings |
3285.803 |
0.000 |
4362.656 |
|
Short Term borrowings |
777.600 |
0.000 |
0.000 |
|
Total
borrowings |
4063.403 |
0.000 |
4362.656 |
|
Debt/Equity
ratio |
(1.291) |
0.000 |
5.064 |
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
|
1021.949 |
1006.922 |
853.120 |
|
|
|
(1.470) |
(15.274) |
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
|
1021.949 |
1006.922 |
853.120 |
|
Profit |
(224.945) |
(85.456) |
(255.152) |
|
|
(22.01%) |
(8.49%) |
(29.91%) |
LEGAL
CASES
LEGAL CASE DETAILS FILE ATTACHED
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 |
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
Subject incorporated in the State of Maharashtra on 17th
February 2005 and presently is in the business of Publication of newspapers.
Mediavest India Private Limited, the holding company, holds 100% (along with
its nominee) of the equity share capital of the company.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
6% non0cumulatice, Non Convertible redeemable preference share of INR 1
each fully paid up inter Corporate Deposit. |
4362.656 |
0.000 |
|
|
|
|
|
Total |
4362.656 |
0.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G01945450 |
10593546 |
YES BANK LIMITED |
21/08/2015 |
30/03/2016 |
- |
200000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI MAHARASHTRA 400018 INDIA |
|
2 |
C59778043 |
10582506 |
IDBI TRUSTEESHIP SERVICES LIMITED |
29/06/2015 |
- |
- |
2500000000.0 |
Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate, MUMBAI MAHARASHTRA 400001 INDIA |
|
3 |
C40062077 |
10542263 |
HDFC BANK LIMITED |
18/10/2014 |
- |
- |
368000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA |
|
4 |
A06123665 |
10073319 |
HDFC BANK LIMITED |
29/09/2006 |
- |
- |
1785000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
B95062485 |
10343551 |
YES BANK LIMITED |
24/02/2012 |
- |
27/01/2014 |
100000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI MAHARASHTRA 400018 INDIA |
|
6 |
B95063962 |
10265159 |
YES BANK LIMITED |
30/12/2010 |
20/12/2011 |
27/01/2014 |
1250000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI MAHARASHTRA 400018 INDIA |
|
7 |
B95086567 |
80011314 |
State Bank of India |
24/06/2005 |
13/04/2011 |
22/01/2014 |
845000000.0 |
Industrial Finance Branch, World Trade Centre Cuffe Parade Mumbai MAHARASHTRA 400005 INDIA |
|
8 |
B95086047 |
10116397 |
State Bank of India |
30/06/2008 |
09/02/2011 |
22/01/2014 |
1043000000.0 |
Industrial Finance Branch, 2nd Floor, The Arcade World Trade Centre, Cuffe Parade, Colaba Mumbai MAHARASHTRA 400005 INDIA |
|
9 |
B95081410 |
80011319 |
CORPORATION BANK |
13/07/2005 |
01/10/2007 |
22/01/2014 |
350000000.0 |
INDUSTRIAL FINANCE BRANCH,BHARAT HOUSE, GROUND FLOOR, 104, B. S. MARG, MUMBAI MAHARASHTRA 400023 INDIA |
|
10 |
B94817483 |
10197801 |
Bank of India |
31/12/2009 |
- |
21/01/2014 |
500000000.0 |
Star House,C-5,G-Block,Bandra-Kurla Complex, Bandra (EAST) Mumbai MAHARASHTRA 400051 INDIA |
CONTINGENT
LIABILITIES:
1. Contingent liabilities not provided for, in
respect of bank guarantees of INR Nil (2016: Nil) (2015: Nil) in respect of
letter of Credits of INR 11.160 Million (2016:20.222 Million) (2015: Nil)
2. For tax matter under appeal a penalty for
A.Y. 2008-09 INR 0.440 Million (2016:0.440 Million) and demand in respect if
additions for A.Y. 2012-13 INR Nil (2016: 91.768 Million) (2015-91.768 Million).
3. The company has received legal notices of
claims lawsuits filed against it relating to defamation suits etc. in relation
to the News published in DNA newspapers, in the opinion of the Management, no
material liability is likely to arise on account of such claims/law suits.
FIXED ASSETS
- Plant and Machinery
- Leasehold Improvement
- Computers
- Office Equipment
- Furniture and Fixture
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 91.45 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
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 |
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.