|
|
|
MIRA INFORM REPORT
|
Report No. : |
502263 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN MEDIA VENTURES LIMITED |
|
|
|
|
Registered
Office : |
Budh Marg, P.S. –Kotwali, Patna – 800001, Bihar |
|
Tel. No.: |
91-612-222 3434 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
09.07.1918 |
|
|
|
|
Com. Reg. No.: |
03-000013 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 733.938 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L21090BR1918PLC000013 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
2109001674 |
|
|
|
|
TIN No: |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
10AAGCS0920E1Z4 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS0920E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
|
|
|
|
Line of Business
: |
The
company is engaged in the business of publishing ‘Hindustan’, a Hindi Daily, and
two monthly Hindi magazines ‘Nandan’ and ‘Kadambani’. (Registered Activities) |
|
|
|
|
No. of Employees
: |
1308 (Approximately) |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 33000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “HT Media Limited”, the company was incorporated in the year 1918. It publishes the leading Hindi daily newspaper, Hindustan.
The company has its share price trading at around INR 232.40 against the Face Value (FV) of INR 10 on BSE as on 5th April, 2018.
|
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 Programme (AA+) |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
29.09.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Commercial Paper Programme (A1+) |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
29.09.2017 |
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 07.04.2018
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.: 91-11-66561234)
91-612-6610650 (Continuously Ringing)
LOCATIONS
|
Registered Office : |
Budh Marg, P.S. –Kotwali Patna – 800001, Bihar, India |
||||||||||||||||||||||||||||||
|
Tel. No.: |
91-612-222 3434/ 2223772/ 2223413/ 14/ 2222538/ 661 0650 |
||||||||||||||||||||||||||||||
|
Fax No.: |
91-612-222 1545/ 2226120 |
||||||||||||||||||||||||||||||
|
E-Mail : |
|||||||||||||||||||||||||||||||
|
Website : |
|||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Corporate Office: |
Hindustan Times House, 2nd Floor, 18-20, Kasturba Gandhi
Marg, New Delhi – 110001, India |
||||||||||||||||||||||||||||||
|
Tel. No.: |
91-11-23704600/ 66561608 |
||||||||||||||||||||||||||||||
|
Fax No.: |
91-11-6656 1445 |
||||||||||||||||||||||||||||||
|
E-Mail : |
|||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Branch Office: |
C-164, Sector-63, Noida, Distirct Gautam Budh nagar – 201301, Uttar Pradesh,
India |
||||||||||||||||||||||||||||||
|
Tel. No.: |
91-120-4765650 |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Plant Locations : |
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Shobhana Bhartia |
|
Designation : |
Director |
|
Address : |
19, Friends Colony (West), New Delhi-110065, India |
|
Date of Birth/Age : |
04.01.1957 |
|
Date of Appointment : |
08.09.2014 |
|
DIN No.: |
00020648 |
|
|
|
|
Name : |
Mrs. Shamit Bhartia |
|
Designation : |
Director |
|
Address : |
19, Friends Colony (West), New Delhi- 110065, India |
|
Date of Appointment : |
08.09.2014 |
|
DIN No.: |
00020623 |
|
|
|
|
Name : |
Mr. Piyush Gunwantrai Mankad |
|
Designation : |
Director |
|
Address : |
P1/61, Ats Village, Sector - 93a, Expressway, Noida - 201301, Uttar Pradesh, India |
|
Date of Appointment : |
08.09.2014 |
|
DIN No.: |
00005001 |
|
|
|
|
Name : |
Mr. Ajay Relan |
|
Designation : |
Director |
|
Address : |
C-121, Defence Colony,, New Delhi - 110003, India |
|
Date of Appointment : |
08.09.2014 |
|
DIN No.: |
00002632 |
|
|
|
|
Name : |
Mr. Ashwani Windlass |
|
Designation : |
Whole-time director |
|
Address : |
N-53, Panchshila Park, New Delhi-110017, India |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00042686 |
|
|
|
|
Name : |
Mr. Shardul Suresh Shroff |
|
Designation : |
Whole-time director |
|
Address : |
S - 270, Gretaer Kailash,, Part 2, New Delhi-110048, India |
|
Date of Appointment : |
01.10.2015 |
|
DIN No.: |
00009379 |
|
|
|
|
Name : |
Mr. Benoy Roychowdhury |
|
Designation : |
Whole-Time Director |
|
Address : |
1603 B, Beverly Park - Ii, Dlf Phase - Ii, Gurgaon - 122002, Haryana, India |
|
Date of Birth/Age : |
17.09.1960 |
|
Date of Appointment : |
28.08.2015 |
|
DIN No.: |
00816822 |
|
|
|
|
Name : |
Mrs. Priyavrat Bhartia |
|
Designation : |
Whole-Time Director |
|
Address : |
19, Friends Colony West), Delhi- 110065,
India |
|
Date of Appointment : |
01.10.2015 |
|
DIN No.: |
00020603 |
|
|
|
|
Name : |
Dr. Mukesh Aghi |
|
Designation : |
Director |
|
Address : |
36, Poorvi Marg,, Vasant Vihar, New
Delhi- 110057, India |
|
Date of Birth/Age : |
10.03.1956 |
|
Date of Appointment : |
28.08.2015 |
|
DIN No.: |
00292205 |
KEY EXECUTIVES
|
Name : |
Mr. Tridib Kumar Barat |
|
Designation : |
Secretary |
|
Address : |
Flat No. 3131, Alok Vihar, F-3,
Sector-50, Noida- 201301, Uttar Pradesh, India |
|
Date of Appointment : |
06.01.2010 |
|
PAN No.: |
ABZPB4623N |
|
|
|
|
Name : |
Mr. Rajeev Beotra |
|
Designation : |
Chief Executive Officer |
|
Address : |
House No.-A 44/10, Phase- 1, DLF City, Chakarpur (74), Gurugram-122002, Haryana, India |
|
Date of Appointment : |
01.03.2018 |
|
PAN No.: |
AAIPB2808D |
|
|
|
|
Name : |
Mr. Sandeep Gulati |
|
Designation : |
Chief Finance Officer |
|
Address : |
House No. 1283, Near CCA School, Sector - 4, Gurugram-122001, Haryana, India |
|
Date of Appointment : |
11.01.2018 |
|
PAN No.: |
ACFPG5177K |
MAJOR SHAREHOLDERS
As on DECEMBER 2017
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
54533458 |
74.30 |
|
|
(B) Public |
18498110 |
25.20 |
|
|
Grand Total |
73393770 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as a
% of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Any Other (specify) |
54533458 |
74.30 |
|
|
HT Media Limited |
54533458 |
74.30 |
|
|
Sub Total A1 |
54533458 |
74.30 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
54533458 |
74.30 |
Statement showing
shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
594669 |
0.81 |
|
|
Foreign Portfolio Investors |
11533465 |
15.71 |
|
|
KOTAK MAHINDRA (INTERNATIONAL)
LIMITED |
4279952 |
5.83 |
|
|
LAVENDER INVESTMENTS LIMITED |
3050000 |
4.16 |
|
|
STEINBERG INDIA EMERGING
OPPORTUNITIES FUND LIMITED |
1950000 |
2.66 |
|
|
Financial Institutions/ Banks |
126124 |
0.17 |
|
|
Any Other (specify) |
1000 |
0.00 |
|
|
Foreign National |
1000 |
0.00 |
|
|
Sub Total B1 |
12255258 |
16.70 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto
INR 0.200 million |
3253905 |
4.43 |
|
|
Individual share capital in
excess of INR 0.200 million |
843820 |
1.15 |
|
|
NBFCs registered with RBI |
155 |
0.00 |
|
|
Any Other (specify) |
2144972 |
2.92 |
|
|
NRI |
225991 |
0.31 |
|
|
Clearing Members |
16164 |
0.02 |
|
|
NRI – Non- Repat |
71730 |
0.10 |
|
|
Bodies Corporate |
1831087 |
2.49 |
|
|
Sub Total B3 |
6242852 |
8.51 |
|
|
B=B1+B2+B3 |
18498110 |
25.20 |
BUSINESS DETAILS
|
Line of Business : |
The company
is engaged in the business of publishing ‘Hindustan’, a Hindi Daily, and two
monthly Hindi magazines ‘Nandan’ and ‘Kadambani’. (Registered Activities) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees
: |
1308 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
Note: Note I- Buyer’s credit from Yes Bank (Secured) Outstanding
Buyer;s Credit loan from Yes Bank (Secured) was drawn in various tranches
from December 14, 2016 till March 7, 2017 @ average Interest Rate of 2.56%
p.a. (Applicable LIBOR + Margin from time to time) and are due for repayment
respective due dates starting from September 8, 2017 till November 30, 2017.
This facility is secured by first Pari Passu charge on all current assets
(both present & future). Note II- Buyer’s credit from Citi Bank (Unsecured) Outstanding
Buyer’s
Credit loan from Citi Bank (Unsecured) was drawn in various tranches from
July 9, 2015 till January 4, 2016 @ average Interest Rate of 1.37% p.a.
(Applicable LIBOR+Margin from time to time) and are due for repayment
respective due dates starting from April 4, 2016 till September 30, 2016. Note III- Buyer’s credit from DBS Bank (Unsecured) Outstanding
Buyer’s
Credit loan from DBS Bank (Unsecured) was drawn in various tranches from
September 7, 2016 till February 21, 2017 @ average Interest Rate of 2.32%
p.a. (Applicable LIBOR+Margin from time to time) and are due for repayment
respective due dates starting from June 2, 2017 till November 17, 2017. Note IV- Buyer’s credit from Deutsche Bank (Unsecured) Outstanding
Buyer’s
Credit loan from Deutsche Bank (Unsecured) was drawn in various tranches from
January 14, 2016 till March 15, 2016 @ average Interest Rate of 1.74% p.a.
(Applicable LIBOR+Margin from time to time) and are due for repayment
respective due dates starting from July 12, 2016 till September 9, 2016. Note V- Vendor financing from Citi Bank (Unsecured) Outstanding
Vendor Financing loan from Citi Bank (Unsecured) was drawn in various
tranches from January 6, 2015 till March 23, 2015 @ average Interest Rate of
9.67% p.a. and are due for repayment respective due dates starting from April
6, 2015 till June 20, 2015. Note VI- Vendor financing from BNP Paribas Bank (Unsecured) Outstanding
Vendor Financing loan from BNP Paribas Bank (Unsecured) was drawn in various
tranches from January 9, 2015 till March 31, 2015 @ average Interest Rate of
9.67% p.a. and are due for repayment respective due dates starting from April
7, 2015 till June 24, 2015. Note VII- Vendor financing from Deutsche Bank (Unsecured) Outstanding
Vendor Financing loan from Deutsche Bank (Unsecured) was drawn in various
tranches from January 9, 2015 till March 31, 2015 @ average Interest Rate of
9.68% p.a. and are due for repayment respective due dates starting from April
9, 2015 till August 8, 2015. Loan covenants The
company has complied with all the loan covenants |
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Building No.8, 7th and 8th Floor, Tower B, DLF Cyber
City, Gurugram – 122002, Haryana, India |
|
Tel. No.: |
91-124-4620000 |
|
Fax No.: |
91-124-4620620 |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Name of related
parties where control exists whether transactions have occurred or not. |
|
|
|
|
|
Fellow subsidiaries
(with whom transactions have occurred during the year) |
|
|
|
|
|
Associate/ Fellow
subsidiary |
|
|
|
|
|
Entities which are
post -employment benefit plans (with whom transactions have occurred during
the year) |
|
CAPITAL STRUCTURE
As on 31.03.2017
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87000000 |
Equity Shares |
INR 10/- each |
INR 870.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
73393770 |
Equity Shares |
INR 10/- each |
INR 733.938
Million |
|
|
|
|
|
Reconciliation
of the number of shares outstanding at the beginning and at the end of the year
|
Equity Shares |
As at 31st March 2017 |
|
|
|
No. of Shares |
INR
In Million |
|
At the beginning of
the year |
73393770 |
733.938 |
|
Shares Issued during the year |
-- |
-- |
|
Outstanding at the
end of the year |
73393770 |
733.938 |
Terms/rights attached to equity shares
The Company has only one class of equity shares having par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Reconciliation of the
equity shares outstanding at the beginning and at the end of the year :
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
Shares outstanding at the beginning of the year |
73393770 |
733.938 |
|
Shares Issued during the year |
|
|
|
Shares outstanding at the end of the year |
733,93770 |
733.938 |
Shares held by holding/
ultimate holding company and/ or their subsidiaries/ associates
Out
of equity shares issued by the company, shares held by its holding company are
as below:
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
Equity shares of INR 10/- each |
|
|
|
HT Media Limited, the holding company |
54533458 |
545.335 |
Details of
shareholders holding more than 5% of the shares in the Company
|
Particulars |
31.03.2017 |
|
|
Number |
% of holding |
|
|
Equity shares of INR 10/- each |
|
|
|
HT Media Limited, the holding company |
54533458 |
74.30 |
|
Kotak Mahindra (International) Limited |
4272252 |
5.82 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
733.938 |
733.938 |
733.938 |
|
(b) Reserves & Surplus |
10974.513 |
8373.062 |
6703.808 |
|
(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) |
11708.451 |
9107.000 |
7437.746 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
248.524 |
162.890 |
108.330 |
|
(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) |
248.524 |
162.890 |
108.330 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1170.492 |
1727.442 |
984.465 |
|
(b) Trade
payables |
908.246 |
930.308 |
984.623 |
|
(c) Other
current liabilities |
649.008 |
861.914 |
644.658 |
|
(d) Short-term
provisions |
28.494 |
44.600 |
35.082 |
|
Total Current
Liabilities (4) |
2756.240 |
3564.264 |
2648.828 |
|
|
|
|
|
|
TOTAL |
14713.215 |
12834.154 |
10194.904 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1702.886 |
1782.529 |
1787.152 |
|
(ii)
Intangible Assets |
684.992 |
684.015 |
13.643 |
|
(iii)
Capital work-in-progress |
32.244 |
15.377 |
32.233 |
|
(iv)
Intangible assets under development |
9.168 |
10.412 |
0.000 |
|
(b) Non-current Investments |
8956.291 |
5818.806 |
5024.663 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
46.441 |
41.812 |
45.857 |
|
(e) Other
Non-current assets |
32.449 |
29.525 |
78.066 |
|
Total Non-Current
Assets |
11464.471 |
8382.476 |
6981.614 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1098.413 |
2131.809 |
1087.505 |
|
(b) Inventories |
470.884 |
482.109 |
448.411 |
|
(c) Trade
receivables |
1162.991 |
1176.728 |
1071.694 |
|
(d) Cash
and cash equivalents |
379.687 |
447.212 |
396.201 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
136.769 |
213.820 |
209.479 |
|
Total
Current Assets |
3248.744 |
4451.678 |
3213.290 |
|
|
|
|
|
|
TOTAL |
14713.215 |
12834.154 |
10194.904 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
9332.739 |
9177.157 |
8185.864 |
|
|
Other Income |
920.459 |
610.710 |
564.415 |
|
|
TOTAL |
10253.198 |
9787.867 |
8750.279 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3494.343 |
3464.640 |
3374.019 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.501) |
(0.134) |
1.616 |
|
|
Employees benefits
expense |
939.159 |
955.439 |
1067.996 |
|
|
Other expenses |
2845.258 |
2141.193 |
2077.320 |
|
|
Counting / Discounting
Operations |
-363.491 |
88.726 |
0.000 |
|
|
TOTAL |
6913.768 |
6649.864 |
6520.951 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3339.430 |
3138.003 |
2229.328 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
161.419 |
113.323 |
105.359 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
3178.011 |
3024.680 |
2123.969 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
202.072 |
219.141 |
243.227 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2975.939 |
2805.539 |
1880.742 |
|
|
|
|
|
|
|
Less |
TAX |
1039.930 |
1018.178 |
472.125 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1936.009 |
1787.361 |
1408.617 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
26.38 |
24.35 |
19.19 |
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 |
2002.356 |
2301.922 |
1772.089 |
|
Net cash flows from (used in) operating activity |
1426.357 |
1643.332 |
1375.066 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3RD
Quarter |
|
Net Sales |
2368.400 |
2108.900 |
2301.600 |
|
Total Expenditure |
1858.300 |
1655.400 |
1718.600 |
|
PBIDT (Excl OI) |
510.100 |
453.500 |
583.000 |
|
Other Income |
250.500 |
204.100 |
82.900 |
|
Operating Profit |
760.600 |
657.600 |
665.900 |
|
Interest |
24.500 |
29.000 |
28.400 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
736.100 |
628.600 |
637.500 |
|
Depreciation |
53.200 |
49.100 |
47.500 |
|
Profit Before Tax |
682.900 |
579.500 |
590.000 |
|
Tax |
203.100 |
141.200 |
199.100 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
479.800 |
438.300 |
390.900 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
479.800 |
438.300 |
390.900 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
45.48 |
46.80 |
47.79 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.02 |
7.80 |
7.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
94.87 |
98.01 |
106.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
7.09 |
6.51 |
4.97 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.37 |
1.26 |
1.22 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.19 |
0.28 |
0.26 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.10 |
0.19 |
0.13 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.24 |
0.39 |
0.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.21 |
0.27 |
0.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
20.69 |
27.69 |
21.16 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
20.74 |
19.48 |
17.21 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
13.16 |
13.93 |
13.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
16.54 |
19.63 |
18.94 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.18 |
1.25 |
1.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.01 |
1.11 |
1.04 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.80 |
0.71 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.59 |
2.35 |
1.34 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
1.18 |
1.25 |
1.21 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 232.40/- |
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 |
733.938 |
733.938 |
733.938 |
|
Reserves & Surplus |
6703.808 |
8373.062 |
10974.513 |
|
Net
worth |
7437.746 |
9107.000 |
11708.451 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
984.465 |
1727.442 |
1170.492 |
|
Total
borrowings |
984.465 |
1727.442 |
1170.492 |
|
Debt/Equity
ratio |
0.132 |
0.190 |
0.100 |
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 |
8185.864 |
9177.157 |
9332.739 |
|
|
|
12.110 |
1.695 |
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 |
8185.864 |
9177.157 |
9332.739 |
|
Profit (Loss) |
1408.617 |
1787.361 |
1936.009 |
|
|
17.21% |
19.48% |
20.74% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
733.938 |
733.938 |
|
(b) Reserves & Surplus |
10974.513 |
8373.062 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
11708.451 |
9107.000 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
248.524 |
162.890 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
248.524 |
162.890 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short
term borrowings |
1170.492 |
1727.442 |
|
(b) Trade
payables |
908.246 |
930.308 |
|
(c) Other
current liabilities |
649.008 |
861.914 |
|
(d) Short-term
provisions |
28.494 |
44.600 |
|
Total Current
Liabilities (4) |
2756.240 |
3564.264 |
|
|
|
|
|
TOTAL |
14713.215 |
12834.154 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed
Assets |
|
|
|
(i) Tangible
assets |
1702.886 |
1782.529 |
|
(ii)
Intangible Assets |
684.992 |
684.015 |
|
(iii)
Capital work-in-progress |
32.244 |
15.377 |
|
(iv)
Intangible assets under development |
9.168 |
10.412 |
|
(b) Non-current Investments |
8956.291 |
5818.806 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
46.441 |
41.812 |
|
(e) Other
Non-current assets |
32.449 |
29.525 |
|
Total Non-Current
Assets |
11464.471 |
8382.476 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a) Current
investments |
1098.413 |
2131.809 |
|
(b)
Inventories |
470.884 |
482.109 |
|
(c) Trade
receivables |
1162.991 |
1176.728 |
|
(d) Cash
and cash equivalents |
379.687 |
447.212 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
|
(f) Other current
assets |
136.769 |
213.820 |
|
Total
Current Assets |
3248.744 |
4451.678 |
|
|
|
|
|
TOTAL |
14713.215 |
12834.154 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Income |
9332.739 |
9177.157 |
|
|
Other Income |
920.459 |
610.710 |
|
|
TOTAL |
10253.198 |
9787.867 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
3494.343 |
3464.640 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.501) |
(0.134) |
|
|
Employees benefits
expense |
939.159 |
955.439 |
|
|
Other expenses |
2845.258 |
2141.193 |
|
|
Counting / Discounting
Operations |
-363.491 |
88.726 |
|
|
TOTAL |
6913.768 |
6649.864 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3339.430 |
3138.003 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
161.419 |
113.323 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
3178.011 |
3024.680 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
202.072 |
219.141 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2975.939 |
2805.539 |
|
|
|
|
|
|
Less |
TAX |
1039.930 |
1018.178 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1936.009 |
1787.361 |
|
|
|
|
|
|
|
SHARE OF PROFIT/(LOSS) ON ASSOCIATE |
(40.800) |
0.000 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) FOR
THE YEAR |
1895.209 |
1787.361 |
|
|
|
|
|
|
|
OTHER COMPREHENSIVE INCOME |
(1.293) |
(12.105) |
|
|
|
|
|
|
|
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR, |
1893.916 |
1775.256 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
25.82 |
24.35 |
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 |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
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
“HMVL” or the Company is a Public Limited Company domiciled in India & incorporated under the provision of the Companies Act, 1913. Its shares are listed on Bombay Stock Exchange (BSE) & National Stock Exchange (NSE). HT Media Limited (Holding Company) holds 74.30% of Equity Share Capital of the Company. The Company is engaged in the business of publishing “Hindustan”, a Hindi Daily, and two monthly Hindi magazines “Nandan” and “Kadambani”. The registered office of the Company is located at Budh Marg, Patna- 800001. Information on other related party relationships of the Company is provided in Note 34. The financial statements of the Company for the year ended March 31, 2017 are authorised for issue in accordance with a resolution of the Board of Directors on May 18, 2017.
MANAGEMENT DISCUSSION
AND ANALYSIS
ECONOMIC OVERVIEW
GLOBAL ECONOMY
After
remaining subdued for a prolonged period, the global economy is gradually
moving towards sustainable growth. According to the International Monetary Fund
(IMF), CY 2016
witnessed a global growth of 3.1% which is expected to touch 3.5% by CY 2017 and 3.6% in CY
2018.
Advanced
economies put up a better show during the second half of CY 2016. Firms in the US grew more confident
of future
demands and the unemployment rate in the US was also low. The demand for domestic products increased
in the
UK, following Brexit. Eurozone also witnessed a push in domestic demand during
the second half of CY 2016, after a sustained period of low growth and deflationary
tendencies. However,
the growing trend towards protectionism is a major challenge for global trade.
Economic activity is projected to pick up in emerging markets and developing economies, on the strength of partial recovery in commodity prices. Growth is expected to remain strong in China and many other commodity importers. Growth patterns in these economies are divergent, but the overall picture is one of cautious optimism.
INDIAN ECONOMY
In
FY 2016-17, India’s
GDP grew by 7.1%, backed by macroeconomic
stability.
The
Government of India implemented many policy reforms during the year. The reforms include the
creation of
Monetary Policy Committee, Insolvency and Bankruptcy Code, redesigning of
the Fiscal Responsibility and Budget Management (FRBM) framework, passage of the Goods and
Services Tax
(GST) and finally, the demonetisation of high denomination notes to move towards a digital economy.
Although
the move to ban high currency notes caused temporary hardship, it was aimed to yield long-term
benefits such as
greater formalisation and digitalisation of the economy. On the other hand, implementation of GST
is widely seen
as a seminal reform to consolidate and improve the indirect tax structure of the country.
Going
forward, India is expected to grow sustainably owing to sound macro-economic stability, government
impetus towards
reforms and a predominantly large young consumer base.
OVERVIEW OF MEDIA
& ENTERTAINMENT INDUSTRY
Indias Media & Entertainment (M&E) industry grew by 9.1% in CY 2016, driven by growth in advertising revenue (11.2% approx.). The growth was shaped by strong fundamentals and a steady increase in consumption, although demonetisation shaved off growth across all sub segments at the end of the year.
The
print segment continued to grow at a steady pace of 7% inspite of English language newspapers bearing
the brunt of
increased digital penetration and the impact of demonetisation. Continued readership growth in the
regional market
(especially in Tier II and Tier III cities) is expected to drive future growth of the segment.
Digital
advertising continued its high growth trajectory with 28% growth in 2016.
The ongoing shift in consumption towards digital media - on the back of accelerated
growth in
internet penetration, mobile devices and falling data costs - has caught the
advertisers’
interests.
PRINT MEDIA
In
India, the print industry witnessed significant volatility in 2016. The
governments drive to demonetise the high denomination currencies temporarily impacted
advertising revenue. However, factors like the 7th Pay Commission payout, a productive
festive season, steady revival of the consumption cycle driven by better
monsoons, lent momentum to
the industry.
Overall,
print industry grew by 7% in CY 2016 with circulation revenue growing at 8.4%
and advertising revenue at 6.3%.
The regional language newspapers grew by 9.4% followed by Hindi and English
newspapers at 8.3% and 3.7%,
respectively, on the back of higher circulation growth rates as more people
from Tier-II and Tier-III cities got into the fold. People in Tier-I cities switched to
digital platforms, which dented the growth of English newspapers.
Although
the industry is facing a constant threat from the digital medium, which has resulted in a swing of
consumption
habits of the readers, it continues to grow.
The
growth catalysts are demographic and socio-economic factors, rising
literacy levels, improved penetration and hyper-localisation.
GROWTH DRIVERS OF
PRINT INDUSTRY
Rise in readership Literacy level across states witnessed significant
growth,
including literacy among women. According to Census 2011, India’s literacy rate stands
at 74%, with rural literacy
rate at 68.9% and urban literacy rate at 84.9%. Growing literacy rate, along with the fact
that in India, unlike other
countries, newspapers are relatively low-priced has helped in increasing
penetration and expanding the target market for the industry.
COMPANY OVERVIEW
Hindustan
Media Ventures Limited (HMVL) is one of Indias leading print media companies with its distribution
spread across
Delhi-NCR, Uttar Pradesh, Uttarakhand, Bihar and Jharkhand. It is engaged in the printing and
publishing of the
flagship Hindi newspaper ‘Hindustan’, which is the second largest daily
of India, based on total readership. It holds the leading position in Uttarakhand, Bihar
and Jharkhand
and ranks second in UP and Delhi. HMVL also publishes two Hindi magazines ‘Nandan’ and ‘Kadambini’.
During
FY 2016-17, HMVL strengthened its competitive position by making a positive change in the lives of
its readers
through agenda-setting news; thought leadership stance and reader connect initiatives. The Company
achieved this
through events and campaigns like Hindustan Shikhar Samagam, Hindustan Aao Rajneeti Karein,
Hindustan Anokhi
Club, Hindustan Kisan Mela, Fresh on Campus, Mission Engineering and many more.
REVIEW OF OPERATIONS
HINDUSTAN
The flagship daily Hindustan is the flagship newspaper of HMVL, which is India’s second most widely read newspaper, based on its total readership. The newspaper is published from 20 print locations spread across Delhi/NCR, Bihar (Patna, Muzaffarpur, Bhagalpur and Gaya), Jharkhand (Ranchi, Jamshedpur and Dhanbad), Uttar Pradesh (Lucknow, Varanasi, Meerut, Agra, Allahabad, Gorakhpur, Bareilly, Moradabad, Aligarh and Kanpur) and Uttarakhand (Dehradun, Haldwani). It engages the readers with initiatives that bring about progress on various civic, social and regional issues.
OUTLOOK
The regional language print business continues to grow, and the regional language Internet media business is an emerging one that holds much promise. Hindustan Media Ventures has a leadership position in both and they expect to build their readership across platforms, and also revenues, on the strength of this. Their initiatives in this area include strengthening their digital platform, with an emphasis on real-time delivery of news over mobile phones, continuous renewal of their print product, and launching new events to enhance engagement with their audience and advertisers.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Borrowings |
|
|
|
Buyer's credit from Citi Bank |
0.000 |
552.319 |
|
Buyer's credit from DBS Bank |
74.173 |
0.000 |
|
Buyer's credit from Deutsche Bank |
0.000 |
347.948 |
|
Commercial Papers from HDFC Bank |
1000.000 |
0.000 |
|
Commercial Papers from Indiabulls Ultra Short Term Fund |
0.000 |
350.000 |
|
Commercial Papers from TATA Money Market Fund |
0.000 |
350.000 |
|
Total |
1074.173 |
1600.267 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G56896848 |
100080876 |
DEUTSCHE BANK AG |
15/02/2017 |
18/09/2017 |
- |
500000000.0 |
ECE HOUSE28, KASTURBA GANDHI MARG,NEW DELHIDL110001IN |
|
2 |
B77499507 |
10247826 |
YES BANK LIMITED |
15/09/2010 |
22/05/2013 |
- |
600000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
3 |
B76832534 |
10239984 |
HDFC BANK LIMITED |
01/09/2010 |
03/05/2013 |
- |
800000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
4 |
A93006377 |
10196676 |
YES BANK LIMITED |
30/12/2009 |
- |
04/08/2010 |
1350000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
5 |
A77215531 |
80057326 |
UNITED COMMERCIAL BANK |
21/08/1984 |
- |
29/12/2009 |
240000.0 |
EXHIBITION ROADPATNABR800001IN |
|
6 |
A77217057 |
80057328 |
UNITED COMMERCIAL BANK |
27/09/1985 |
- |
29/12/2009 |
500000.0 |
EXHIBITION ROADPATNABR800001IN |
|
7 |
A77212397 |
80057325 |
UNITED COMMERCIAL BANK |
03/08/1973 |
- |
29/12/2009 |
100000.0 |
EXHIBITION ROADPATNABR800001IN |
|
8 |
A77213650 |
80057327 |
UNITED COMMERCIAL BANK |
21/08/1984 |
27/09/1985 |
29/12/2009 |
400000.0 |
EXHIBITION ROADPATNABR800001IN |
|
9 |
A77210722 |
80057324 |
UNITED COMMERCIAL BANK |
21/06/1967 |
01/08/1976 |
29/12/2009 |
800000.0 |
EXHIBITION ROADPATNABR800001IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
The Company has filed a petition before the Hon’ble Patna High Court against an initial claim for additional contribution of INR 7.337 million made by Employees State Insurance Corporation (ESIC) relating to the years 1989-90 to 1999-00. The Company has furnished a bank guarantee amounting to INR 1.250 million to ESIC. The Hon’ble High Court had initially stayed the matter and on July 18, 2012 disposed of the Petition with the Order of “No Coercive Step shall be taken against HMVL” with direction to move for ESI Court. Matter is still pending in Lower Court. There is no further progress in the matter during the year. |
7.337 |
7.337 |
|
The
Company has filed a petition before the Hon’ble Patna High Court against the
demand of INR 1.007 million (including interest) for short payment of ESI
dues pertaining to the years from 2001 to 2005. The Hon’ble High Court had
initially stayed the matter and on July 18, 2012 disposed of the Petition
with the Order of “No Coercive Step shall be taken against HMVL” with direction to
move for ESI Court. Matter is still pending in Lower Court. There is no
further progress in the matter during the year. |
1.007 |
1.007 |
|
During the current year, the management has received several claims substantially from employees in UP, Jharkhand and Bihar who are either retired or separated from the Company regarding the benefits of Majithia Wage Board recommendations. However, all such claims/ recovery order(s) issued by ALC/ DLC office are generally either stayed by the respective Hon’ble High Court(s) or are pending before ALC/ DLC. Based on management assessment and current status of the above matters, the management is confident that no provision is required in the financial statements as on March 31, 2017. |
||
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE
MONTHS DECEMBER 31, 2017
[INR
IN MILLION]
|
PARTICULARS |
3 Months |
9 Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from operations |
2301.600 |
2108.900 |
6778.900 |
|
Other Operating Income |
82.900 |
204.100 |
537.500 |
|
Total income from operations (net) |
2384.500 |
2313.000 |
7316.400 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
895.300 |
872.900 |
2709.000 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(0.300) |
0.800 |
(1.300) |
|
Employee benefits expense |
231.700 |
231.300 |
690.700 |
|
Depreciation and Amortization Expenses |
47.500 |
49.100 |
149.800 |
|
Other Expenses |
591.900 |
550.400 |
1833.900 |
|
Finance Costs |
28.400 |
29.000 |
81.900 |
|
Excise Duty |
0.000 |
0.000 |
0.000 |
|
Total expenses |
1794.500 |
1733.500 |
5464.000 |
|
Profit/ (Loss) from ordinary activities after finance cost
but before exceptional items |
590.000 |
579.500 |
1852.400 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit/ (Loss) from ordinary activities before tax |
590.000 |
579.500 |
1852.400 |
|
Tax expenses |
199.100 |
141.200 |
543.400 |
|
Net Profit / (Loss) from ordinary activities after tax |
390.900 |
438.300 |
1309.000 |
|
Extraordinary item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
Net Profit / (Loss) for the period |
390.900 |
438.300 |
1309.000 |
|
Comprehensive Income |
0.800 |
3.800 |
2.800 |
|
Net Profit/ (Loss) after taxes, minority interest and share
of profit/(loss) of associates |
391.700 |
442.100 |
1311.800 |
|
|
|
|
|
|
Paid up equity share capital (Face Value of INR 10/-each) |
733.900 |
733.900 |
733.900 |
|
Reserve excluding Revaluation Reserve as per Balance Sheet
of previous accounting year |
|
|
|
|
Earnings per share (before extraordinary items) of INR
10/- each (not annualized): |
|
|
|
|
(a) Basic |
5.33 |
5.97 |
17.84 |
|
(b) Diluted |
5.33 |
5.97 |
17.84 |
Note:
- The above un-audited financial results for the quarter and nine months period ended December 31, 2017 have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held on January 11, 2018. The Statutory Auditors have conducted a "Limited Review" of these results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The Company has adopted Indian Accounting Standards ("Ind-AS") effective April 1, 2016 (transition date being April 1, 2015) prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. Accordingly, the financial results for all the periods have been prepared in accordance with the recognition and measurement principles stated therein.
- During the previous year, pursuant to a Scheme of Arrangement u/s 391-394 of the Companies Act, 1956 between the Company and HT Digital Streams Limited (HTDSL) and their respective shareholders & creditors (the Scheme), the Multi-media Content Management Undertaking of the Company (MMCM Undertaking) was transferred and vested to and in HTDSL, as a 'going concern' on slump exchange basis, with effect from closing hours of March 31, 2016 ('Appointed Date'). The Scheme became effective from December 31, 2016 (closing hours) ('Effective Date'). In terms of the Scheme, HTDSL allotted its 85,87,896 Equity Shares of INR 10/- each to the Company at par, which was recorded as Company's investment in HTDSL at a fair value of INR 745.000 Million. Accordingly, the Company acquired 42.83% equity stake in HTDSL and HTDSL became an Associate of the Company. The entire impact of transfer of MMCM Undertaking from the appointed date was taken in the quarter ended December 31, 2016. Accordingly, the financial results for quarter ended December 31, 2017 are not comparable with corresponding results for the quarter ended December 31, 2016.
- The Board of Directors of the Company at its meeting held on August 24, 2017, approved the proposal for sale of Company's entire investment in HT Digital Streams Limited (Associate Company) to Digicontent Limited (formerly HT Digital Ventures Limited), a fellow subsidiary company, for a consideration of INR 767.500 million. The aforesaid transaction has been consummated on December 28, 2017 resulting into a gain of INR 22.500 Million which is recognised under Other Income. Therefore, HT Digital Streams Limited ceases to be an Associate of the Company w.e.f. December 28, 2017.
- The Board of Directors of the Company at its meeting held on October 16, 2017 approved a Scheme of Arrangement u/s 230 to 232 and other applicable provisions of the Companies Act, 2013 between the Company and India Education Services Private Limited ("IESPL") (fellow subsidiary company) and their respective shareholders which provides for demerger of IESPL’s business in relation to the educational services to retail consumers i.e. B2C business and transfer and vesting thereof into the Company (Scheme), subject to requisite approvals. Pending requisite approvals, the impact of the Scheme is not considered in the above results.
- The Company is engaged in the business of Printing and Publication of Newspapers and Periodicals and there are no other reportable segments as per Ind AS 108 on Operating Segments.
- Employee Stock Option details for the Company for the quarter ended December 31, 2017 - No options were granted, vested, exercised or forfeited under HT Group Companies - Employee Stock Option Trust Scheme of a Holding Company.
- Tax expense for the quarter and nine months period ended December 31, 2017 includes tax credit relating to previous year.
- The certificate of Whole-time Director and Group CFO in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of the above results has been placed before the Board of Directors.
FIXED ASSETS
- Land
- Building
- Furniture and Fixture
- Computer
- Plant and Machinery
- Vehicle
- IT Equipment
- Office Equipment
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 64.99 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
YES |
|
--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.