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|
MIRA INFORM REPORT
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Report No. : |
502181 |
|
Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
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Name : |
JAGRAN PRAKASHAN LIMITED |
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Registered
Office : |
Jagran Building, 2, Sarvodaya Nagar, Kanpur – 208005, Uttar Pradesh |
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Tel. No.: |
91-512-2216161 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
18.07.1975 |
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Com. Reg. No.: |
20-004147 |
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Capital
Investment / Paid-up Capital : |
INR 653.824 Million |
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CIN No.: [Company Identification
No.] |
L22219UP1975PLC004147 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax Registration
No.] |
09AAACJ3404A1Z9 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACJ3404A |
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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 engaged
primarily in printing and publication of Newspaper and Magazines. [Registered Activity] |
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No. of Employees
: |
5799 (Approximately) |
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 48000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Jagran Prakashan Limited was incorporated in the year 1975. It is a subsidiary of Jagran Media Network Investment Private Limited. The Company is engaged in printing and publication of newspaper and magazines in India. The other activities of the company comprise outdoor advertising business, event management services and digital business. As per the quarterly results of December 2017, the company has achieved sales turnover of INR 4954.984 million and has reported a favourable profitability margin. For the financial of 2017, the company has gained a satisfactory net profit margin of 16.63% and has earned 6.81% growth in its revenue as compared to the previous year’s revenue. The rating takes into consideration the strong financial position of the company backed by robust net worth base along with negligible debt level and comfortable liquidity parameter. The company has its share price trading at around INR 168 on BSE as on April 04, 2018 as against the Face Value (FV) of INR 2. Business is active. Payment seems to be regular. In view of strong financial position of the company, it can be considered for business dealings at usual trade terms and condition. NOTE: The Composite Scheme of Arrangement (“the Scheme”) involving amalgamation of Spectrum Broadcast Holdings Private Limited (“SBHPL”) and Crystal Sound & Music Private Limited (“CSMPL”) into Jagran Prakashan Limited (JPL), and demerger of FM radio business (“Radio Mantra”) of Shri Puran Multimedia Limited (“SPML”) into the Music Broadcast Limited (MBL), was approved by the Hon’ble High Court of Allahabad on September 22, 2016 and the Hon’ble High Court of Mumbai on October 27, 2016. The Scheme became effective upon filing of the aforesaid orders with the respective Registrars of Companies (RoCs) of Uttar Pradesh on November 18, 2016 and Bombay on November 17, 2016 with effect from January 1, 2016 being the appointed date. Pursuant to the Scheme, all assets and liabilities relating to the FM Radio Business (Radio Mantra) were transferred to Music Broadcast Limited, a subsidiary, at their respective book values as appearing in books of the SPML on the appointed date i.e. January 1, 2016. The acquisition of business of Radio Mantra was settled by issue of 31,25,000 equity shares of INR 10 each fully paid up by MBL to the shareholders of SPML with consequential adjustment to the capital reserve account . |
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 loans: AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
30.06.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term loans: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
30.06.2017 |
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 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
MANAGEMENT NON CO-OPERATIVE (91-512-2216161)
LOCATIONS
|
Registered Office : |
Jagran Building, 2, Sarvodaya Nagar, Kanpur – 208005, Uttar Pradesh, India |
|
Tel. No.: |
91-512-2216161/2216162/2216163 |
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Fax No.: |
91-512- 2230625 |
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E-Mail : |
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Website : |
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Business Office : |
Located at
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Printing Centres: |
Located at
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DIRECTORS
AS ON 31.03.2017
|
Name : |
Mahendra Mohan Gupta |
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Designation : |
Managing Director |
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Address : |
7/51, Tilak Nagar, Nawabganj, Kanpur
-208002, Uttar Pradesh, India |
|
Date of Appointment : |
18.07.1975 |
|
DIN No.: |
00020451 |
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|
Name : |
Sanjay Gupta |
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Designation : |
Wholetime Director |
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Address : |
C-26, Friends Colony, East, New Delhi
-110065, India |
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Date of Appointment : |
30.06.1993 |
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DIN No.: |
00028734 |
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|
Name : |
Shailesh Gupta |
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Designation : |
Wholetime Director |
|
Address : |
Puran Niwas, 7/51, Tilak Nagar, Kanpur
208002, Uttar Pradesh, India |
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Date of Appointment : |
28.11.1994 |
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DIN No.: |
00192466 |
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Name : |
Sunil Gupta |
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Designation : |
Wholetime Director |
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Address : |
7/51, Tilak Nagar, Kanpur- 208002, Uttar
Pradesh, India |
|
Date of Appointment : |
01.10.1993 |
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DIN No.: |
00317228 |
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|
|
|
Name : |
Dhirendra Mohan Gupta |
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Designation : |
Wholetime Director |
|
Address : |
Puran Niwas 7/51, Tilak Nagar, Kanpur
-208002, Uttar Pradesh, India |
|
Date of Appointment : |
18.07.1975 |
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DIN No.: |
01057827 |
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|
|
|
Name : |
Satish Chandra Mishra |
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Designation : |
Wholetime Director |
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Address : |
1203, Dhaulagiri, Kashambi, Ghaziabad
-201010, Uttar Pradesh, India |
|
Date of Appointment : |
30.10.2013 |
|
DIN No.: |
06643245 |
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|
|
Name : |
Anuj Puri |
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Designation : |
Director |
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Address : |
1004, Quantum Park, Building No. 2, Gulab Nagar,
Khar Danda, Khar West, Mumbai - 400052, Maharashtra, India |
|
Date of Appointment : |
31.01.2013 |
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DIN No.: |
00048386 |
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|
|
|
Name : |
Rajendra Kumar Jhunjhunwala |
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Designation : |
Director |
|
Address : |
117/K/13 Gutaiya, Kanpur- 208025, Uttar Pradesh,
India |
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Date of Appointment : |
04.09.2008 |
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DIN No.: |
00073943 |
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|
|
|
Name : |
Jayant Davar |
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Designation : |
Director |
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Address : |
50, Sultanpur Farms, Prakrti Marg,
Mehrauli, Gurgaon Road, Delhi -110030, India |
|
Date of Appointment : |
30.09.2014 |
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DIN No.: |
00100801 |
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|
Name : |
Vijay Tandon |
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Designation : |
Director |
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Address : |
C-356, SFS Sheikh Sarai, Phase I, New
Delhi- 110017, India |
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Date of Appointment : |
18.11.2005 |
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DIN No.: |
00156305 |
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|
|
|
Name : |
Devendra Mohan Gupta |
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Designation : |
Director |
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Address : |
Puran Niwas 7/51, Tilak Nagar, Kanpur
-208002, Uttar Pradesh, India |
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Date of Appointment : |
04.09.2008 |
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DIN No.: |
00226837 |
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Name : |
Dilip Cherian |
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Designation : |
Director |
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Address : |
A - 20, First Floor Nizamuddin East, New
Delhi- 110013, India |
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Date of Appointment : |
31.01.2013 |
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DIN No.: |
00322763 |
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Name : |
Shailendra Mohan Gupta |
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Designation : |
Director |
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Address : |
Puran Niwas 7/51, Tilak Nagar, Kanpur
-208002, Uttar Pradesh, India |
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Date of Appointment : |
04.09.2008 |
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DIN No.: |
00327249 |
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|
|
Name : |
Vikram Sakhuja |
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Designation : |
Director |
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Address : |
3rd Floor, Hormuzd, Shanti Road, Juhu, Mumbai
-400049, Maharashtra, India |
|
Date of Appointment : |
15.04.2016 |
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DIN No.: |
00398420 |
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|
|
Name : |
Shashidhar Narain Sinha |
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Designation : |
Director |
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Address : |
13, 905-906, Indradarshan Phase II, Oshiwara,
Andheri (West), Mumbai -400053, Maharashtra, India |
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Date of Appointment : |
04.09.2008 |
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DIN No.: |
00953796 |
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Name : |
Amit 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 Appointment : |
22.10.2011 |
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DIN No.: |
01798942 |
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Name : |
Anita Nayyar |
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Designation : |
Director |
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Address : |
C-8/8811 Vasant Kunj, New Delhi -110070,
India |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
03317861 |
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|
Name : |
Ravi Sardana |
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Designation : |
Director |
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Address : |
7 C, H Block, Saket SFS Flat, New Delhi
-110017, India |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
06938773 |
KEY EXECUTIVES
|
Name : |
Amit Jaiswal |
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Designation : |
Company Secretary |
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Address : |
Flat No. T-4, Vidhya Apartment, 117/H2/146,
Pandu Nagar, Kanpur -208005, Uttar Pradesh, India |
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Date of Appointment : |
01.04.2003 |
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PAN No.: |
AEQPJ6841J |
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NOMINATION & REMUNERATION COMMITTEE: |
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AUDIT COMMITTEE: |
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STAKEHOLDERS RELATIONSHIP COMMITTEE: |
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CORPORATE SOCIAL RESPONSIBILITY COMMITTEE: |
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SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
189481390 |
60.85 |
|
(B) Public |
121930439 |
39.15 |
|
Grand Total |
311411829 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Individuals/Hindu undivided Family |
669694 |
0.22 |
|
YOGENDRA MOHAN GUPTA |
106000 |
0.03 |
|
BHARAT GUPTA |
14335 |
0.00 |
|
SANJAY GUPTA |
53000 |
0.02 |
|
SANDEEP GUPTA |
53000 |
0.02 |
|
SHAILENDRA MOHAN GUPTA |
63600 |
0.02 |
|
DEVENDRA MOHAN GUPTA |
106000 |
0.03 |
|
DHIRENDRA MOHAN GUPTA |
106000 |
0.03 |
|
MAHENDRA MOHAN GUPTA |
125359 |
0.04 |
|
RAJNI GUPTA |
21200 |
0.01 |
|
SIDDHARTHA GUPTA |
21200 |
0.01 |
|
Any Other (specify) |
188811696 |
60.63 |
|
JAGRAN MEDIA NETWORK INVESTMENT PRIVATE
LIMITED |
188811696 |
60.63 |
|
Sub Total A1 |
189481390 |
60.85 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
189481390 |
60.85 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
|
0.00 |
|
Mutual Funds/ |
47530455 |
15.26 |
|
ICICI PRUDENTIAL MUTUAL FUND |
3588211 |
1.15 |
|
HDFC TRUSTEE COMPANY LIMITED |
25038114 |
8.04 |
|
SUNDARAM MUTUAL FUND |
3331716 |
1.07 |
|
FRANKLIN TEMPLTON MUTUAL FUND |
9231975 |
2.96 |
|
Foreign Portfolio Investors |
28765936 |
9.24 |
|
FRANKLIN TEMPLETON INVESTMENT FUNDS |
10711536 |
3.44 |
|
COMGEST GROWTH PLC - COMGEST GROWTH INDIA |
3420878 |
1.10 |
|
PARI WASHINGTON INDIA MASTER FUND LIMITED |
4180279 |
1.34 |
|
Financial Institutions/ Banks |
87496 |
0.03 |
|
Sub Total B1 |
76383887 |
24.53 |
|
B2) Central Government/ State
Government(s)/ President of India |
|
0.00 |
|
B3) Non-Institutions |
|
0.00 |
|
Individual share capital upto INR 0.200
Million |
10053101 |
3.23 |
|
Individual share capital in excess of INR
0.200 Million |
559356 |
0.18 |
|
NBFCs registered with RBI |
6509 |
0.00 |
|
Any Other (specify) |
34927586 |
11.22 |
|
Trusts |
56436 |
0.02 |
|
ALTERNATIVE INVESTMENT FUND |
391217 |
0.13 |
|
NRI |
277678 |
0.09 |
|
Clearing Members |
121197 |
0.04 |
|
NRI – Non- Repat |
161757 |
0.05 |
|
Bodies Corporate |
33870841 |
10.88 |
|
HDFC STANDARD LIFE INSURANCE COMPANY
LIMITED |
6325603 |
2.03 |
|
ICICI PRUDENTIAL LIFE INSURANCE COMPANY
LIMITED |
15566354 |
5.00 |
|
ICICI LOMBARD GENERAL INSURANCE COMPANY
LIMITED |
4628118 |
1.49 |
|
IEPF |
6000 |
0.00 |
|
BENEFICIAL HOLDINGS UNDER MGT-4 |
42460 |
0.01 |
|
Sub Total B3 |
45546552 |
14.63 |
|
B=B1+B2+B3 |
121930439 |
39.15 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
primarily in printing and publication of Newspaper and Magazines. [Registered Activity] |
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Products / Services
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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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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
5799 (Approximately) |
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Bankers : |
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Facilities : |
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Statutory Auditors: |
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Name : |
Price Waterhouse LLP Chartered Accountants |
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Address : |
Building 8, 7th and 8th Floor, Tower B, DLF Cyber City, Gurugram- 122 002, Haryana, India |
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Internal Auditors: |
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|
Name : |
Ernst and Young LLP Chartered Accountants |
|
Address : |
5th Floor, Golf View Corporate Towers B, Sector 42, Sector Road, Gurugram -122 001, Haryana, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Parent entity: |
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Subsidiary: |
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Associates: |
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Entities
incorporated in India over which Key Management Personnel exercises
significant influence: |
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Other related
party: |
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CAPITAL STRUCTURE
After 28.09.2017
Authorised Capital : INR 750.000 Million
Issued Subscribed & Paid-up Capital : INR 622.824
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375000000 |
Equity Shares |
INR 2/- each |
INR 750.000 Million |
|
|
|
|
|
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
326911829 |
Equity Shares |
INR 2/- each |
INR 653.824 Million |
|
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|
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|
Terms and rights attached to equity shares
Equity Shares: The Company has one class of equity shares having a par value of INR 2 per share. Each shareholder is eligible for one vote per share held. The shares entitle the holder to participate in dividends and in the event of liquidation. The equity shareholders are eligible to receive the remaining assets of the Company, in proportion to their shareholding.
Shares held by holding/ultimate holding
company
|
Equity Shares |
|
Number
of Shares |
|
Jagran Media Network Investment Private Limited (ultimate holding company) |
|
197960097 |
Details of
shareholders holding more than 5% shares in the company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
|
|
|
|
Jagran Media Network Investment Private Limited |
197960097 |
60.55% |
Shares allotted as fully paid up pursuant
to contract without payment being received in cash (during 5 years immediately
preceding March 31, 2017/March 31, 2016).
15,643,972 equity shares of INR 2/- each fully paid were allotted as consideration on March 16, 2013 pursuant to the scheme of arrangement entered with Naidunia Media Limited under Section 391 to 394 of Companies Act, 1956.
Shares bought back (during 5 years immediately preceding March 31, 2017/March 31, 2016).
5,000,000 equity shares of INR 2/- each fully paid were bought back on January 2, 2014 through the ‘tender offer’ process at a price of INR 95/- per share for an aggregate amount of INR 475.000 Million.
During the year ended March 31, 2017, the Company has issued a letter of offer to buy-back its shares through tender offer process at INR 195/- per share. The buy back has been completed on April 20, 2017 and subsequent to the year end the Company has paid INR 3022.500 Million for buy back of 1,55,00,000 equity shares.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
653.824 |
653.824 |
|
(b) Reserves &
Surplus |
|
15953.875 |
12812.831 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
(d)Equity component of
compound financial instrument |
|
94.587 |
109.216 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
16702.286 |
13575.871 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
1089.360 |
|
(b) Deferred tax
liabilities (Net) |
|
98.970 |
86.165 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
(e)Employee benefit
obligations |
|
1293.707 |
1042.978 |
|
Total Non-current
Liabilities (3) |
|
1392.677 |
2218.503 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
814.198 |
2429.929 |
|
(b) Trade payables |
|
1033.767 |
510.525 |
|
(c) Other current
liabilities |
|
2157.865 |
1504.172 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
(e)Employee benefit
obligations |
|
28.863 |
12.041 |
|
Total Current Liabilities
(4) |
|
4034.693 |
4456.667 |
|
|
|
|
|
|
TOTAL |
|
22129.656 |
20251.041 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4736.617 |
4691.264 |
|
(ii) Intangible Assets |
|
119.456 |
50.371 |
|
(iii) Capital work-in-progress |
|
758.780 |
793.213 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(v)Goodwill |
|
2293.729 |
2293.729 |
|
Investments in
subsidiaries and associates |
|
2582.094 |
3382.257 |
|
(b) Non-current
Investments |
|
4989.359 |
63.555 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
254.609 |
390.259 |
|
Total Non-Current Assets |
|
15734.644 |
11664.648 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
3323.519 |
|
(b) Inventories |
|
831.001 |
588.810 |
|
(c) Trade receivables |
|
4137.289 |
3513.106 |
|
(d) Cash and cash
equivalents |
|
775.197 |
336.320 |
|
(e) Short-term loans and advances |
|
147.992 |
430.806 |
|
(f) Other current assets |
|
503.533 |
389.032 |
|
(g) Assets classified as
held for sale |
|
0.000 |
4.800 |
|
Total Current Assets |
|
6395.012 |
8586.393 |
|
|
|
|
|
|
TOTAL |
|
22129.656 |
20251.041 |
|
SOURCES OF FUNDS |
|
|
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
653.824 |
|
(b) Reserves &
Surplus |
|
|
12230.253 |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
|
12884.077 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
3110.524 |
|
(b) Deferred tax
liabilities (Net) |
|
|
751.632 |
|
(c) Other long term
liabilities |
|
|
83.818 |
|
(d) long-term provisions |
|
|
92.231 |
|
Total Non-current
Liabilities (3) |
|
|
4038.205 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
2429.929 |
|
(b) Trade payables |
|
|
915.297 |
|
(c) Other current
liabilities |
|
|
1541.983 |
|
(d) Short-term provisions |
|
|
12.041 |
|
Total Current Liabilities
(4) |
|
|
4899.250 |
|
|
|
|
|
|
TOTAL |
|
|
21821.532 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
4691.265 |
|
(ii) Intangible Assets |
|
|
50.371 |
|
(iii) Capital
work-in-progress |
|
|
793.213 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
Investments in
subsidiaries and associates |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
7867.221 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
388.692 |
|
(e) Other Non-current
assets |
|
|
4.040 |
|
Total Non-Current Assets |
|
|
13794.802 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
2635.949 |
|
(b) Inventories |
|
|
588.810 |
|
(c) Trade receivables |
|
|
3897.817 |
|
(d) Cash and cash
equivalents |
|
|
330.047 |
|
(e) Short-term loans and
advances |
|
|
510.329 |
|
(f) Other current assets |
|
|
63.778 |
|
Total Current Assets |
|
|
8026.730 |
|
|
|
|
|
|
TOTAL |
|
|
21821.532 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
19000.772 |
17788.700 |
|
|
Other Income |
|
78.280 |
122.253 |
|
|
Other gains/(losses) -
net |
|
320.134 |
369.834 |
|
|
TOTAL |
|
19399.186 |
18280.787 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
6244.230 |
6019.589 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
0.115 |
(0.236) |
|
|
Employees benefits
expense |
|
2719.789 |
2478.539 |
|
|
Other expenses |
|
4772.937 |
4298.132 |
|
|
TOTAL |
|
13737.071 |
12796.024 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
|
5662.115 |
5484.763 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
197.750 |
573.498 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
5464.365 |
4911.265 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
816.609 |
840.610 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
4647.756 |
4070.655 |
|
|
|
|
|
|
|
Less |
TAX |
|
1487.113 |
1355.133 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
3160.643 |
2715.522 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
|
5179.395 |
5157.055 |
|
|
|
|
|
|
|
Add |
Pursuant to Scheme of Arrangement of Suvi Info Management (Indore)
Private Limited (Suvi) |
|
0.000 |
(1322.609) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Remeasurements of post
employment benefit obligation, net of tax |
|
2.029 |
(6.548) |
|
|
Dividends paid |
|
0.000 |
1144.191 |
|
|
Dividend distribution tax
on dividends paid |
|
0.000 |
232.930 |
|
|
Balance Carried to the
B/S |
|
8338.009 |
5179.395 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
945.888 |
1155.361 |
|
|
Components and Stores
parts |
|
2.639 |
0.333 |
|
|
Capital Goods |
|
176.000 |
84.715 |
|
|
TOTAL IMPORTS |
|
1124.527 |
1240.409 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
9.67 |
8.31 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
16617.203 |
|
|
Other Income |
|
|
299.977 |
|
|
TOTAL |
|
|
16917.180 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
5932.753 |
|
|
Purchases of
Stock-in-Trade |
|
|
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
0.261 |
|
|
Employees benefits
expense |
|
|
2304.770 |
|
|
Other expenses |
|
|
4030.687 |
|
|
TOTAL |
|
|
12268.471 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
4648.709 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
352.465 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
4296.244 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
950.681 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
3345.563 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
1110.098 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
2235.465 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
|
|
3113.372 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend for the
Year |
|
|
1144.191 |
|
|
Dividend Distribution tax
on dividend for the year |
|
|
232.930 |
|
|
Transfer to Debenture
Redemption Reserve |
|
|
300.000 |
|
|
Transfer to General
Reserve |
|
|
340.000 |
|
|
Balance Carried to the
B/S |
|
|
3331.716 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
|
860.874 |
|
|
Components and Stores
parts |
|
|
1.443 |
|
|
Capital Goods |
|
|
0.000 |
|
|
TOTAL IMPORTS |
|
|
862.317 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
6.84 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
|
|
|
|
External Commercial Borrowings |
0.000 |
265.320 |
250.360 |
|
Listed Non-convertible Debentures |
749.515 |
0.000 |
750.000 |
|
Others |
0.000 |
0.271 |
0.000 |
|
Total |
749.515 |
265.591 |
1000.360 |
|
Cash generated from operations |
5080.688 |
4886.503 |
4129.970 |
|
Net cash inflow from operating activities |
3836.050 |
3680.792 |
3406.216 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd Quarter |
|
|
|
|
|
|
Net sales |
4918.350 |
4645.150 |
4954.980 |
|
Total Expenditure |
3590.480 |
3539.740 |
3593.420 |
|
PBIDT (Excluding Other Income) |
1327.870 |
1105.410 |
1361.560 |
|
Other income |
72.090 |
74.000 |
62.120 |
|
Operating Profit |
1399.970 |
1179.410 |
1423.6800 |
|
Interest |
32.950 |
35.750 |
36.320 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
1367.020 |
1143.660 |
1387.360 |
|
Depreciation |
195.940 |
204.770 |
208.240 |
|
Profit Before Tax |
1171.080 |
938.890 |
1179.130 |
|
Tax |
389.250 |
325.160 |
405.160 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
781.830 |
613.730 |
773.960 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
781.830 |
613.730 |
773.960 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
79.48 |
72.08 |
85.62 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.59 |
5.06 |
4.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
60.43 |
30.96 |
56.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
6.81 |
9.31 |
7.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.01 |
0.99 |
0.84 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.22 |
0.29 |
0.41 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.09 |
0.28 |
0.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.24 |
0.33 |
0.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.34 |
0.41 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
28.63 |
9.56 |
13.19 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
16.63 |
15.27 |
13.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
14.28 |
13.41 |
10.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.92 |
20.00 |
17.35 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.59 |
1.93 |
1.64 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.38 |
1.79 |
1.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.75 |
0.67 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.39 |
5.79 |
10.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.59 |
1.93 |
1.64 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2/- |
|
Market Value |
INR 168/- |
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 |
653.824 |
653.824 |
653.824 |
|
Reserves & Surplus |
12230.253 |
12812.831 |
15953.875 |
|
Share Application money pending
allotment |
-- |
0.000 |
0.000 |
|
Net
worth |
12884.077 |
13466.655 |
16607.699 |
|
|
|
|
|
|
Long-Term Borrowings |
3110.524 |
1089.360 |
0.000 |
|
Short Term Borrowings |
2429.929 |
2429.929 |
814.198 |
|
Current Maturities of Long term debt |
1000.360 |
265.591 |
749.515 |
|
Total
borrowings |
6540.813 |
3784.880 |
1563.713 |
|
Debt/Equity
ratio |
0.508 |
0.281 |
0.094 |
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 |
16617.203 |
17788.700 |
19000.772 |
|
|
|
7.050 |
6.814 |
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
|
16617.203 |
17788.700 |
19000.772 |
|
Profit |
2235.465 |
2715.522 |
3160.643 |
|
|
13.45% |
15.27% |
16.63% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
653.824 |
653.824 |
|
(b) Reserves &
Surplus |
|
20800.894 |
15546.314 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
(d) Equity component of
compound financial instrument |
|
94.587 |
109.215 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Non-controlling interests |
|
2362.771 |
334.335 |
|
Total Shareholders’ Funds
(1) + (2) |
|
23912.076 |
16643.688 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
501.990 |
2591.602 |
|
(b) Deferred tax
liabilities (Net) |
|
1970.654 |
1793.441 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
(e) Employee benefit
obligations |
|
170.350 |
148.171 |
|
Total Non-current
Liabilities (3) |
|
2642.994 |
4533.214 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
832.489 |
2556.252 |
|
(b) Trade payables |
|
1467.213 |
832.485 |
|
(c) Other current
liabilities |
|
3481.058 |
2389.900 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
(e) Employee benefit
obligations |
|
49.918 |
30.201 |
|
Total Current Liabilities
(4) |
|
5830.678 |
5808.838 |
|
|
|
|
|
|
TOTAL |
|
32385.748 |
26985.740 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5801.813 |
5543.776 |
|
(ii) Intangible Assets |
|
5739.971 |
5301.819 |
|
(iii) Capital
work-in-progress |
|
758.784 |
793.213 |
|
(iv) Intangible assets
under development |
|
0.000 |
656.628 |
|
Goodwill |
|
3377.287 |
3377.287 |
|
Investments accounted for
using the equity method |
|
57.917 |
57.316 |
|
(b) Non-current Investments |
|
4996.445 |
77.223 |
|
(c) Deferred tax assets
(net) |
|
269.399 |
344.563 |
|
(d) Long-term Loan and Advances |
|
0.173 |
0.000 |
|
(e) Other Non-current
assets |
|
540.468 |
768.120 |
|
Total Non-Current Assets |
|
21542.257 |
16919.945 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
292.502 |
3490.441 |
|
(b) Inventories |
|
935.142 |
668.872 |
|
(c) Trade receivables |
|
5157.621 |
4479.513 |
|
(d) Cash and cash
equivalents |
|
3490.924 |
501.882 |
|
(e) Short-term loans and
advances |
|
149.002 |
235.816 |
|
(f) Other current assets |
|
759.881 |
626.733 |
|
Assets classified as held
for sale |
|
58.419 |
62.538 |
|
Total Current Assets |
|
10843.491 |
10065.795 |
|
|
|
|
|
|
TOTAL |
|
32385.748 |
26985.740 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
22829.514 |
20792.405 |
|
|
Other Income |
|
69.557 |
147.220 |
|
|
Other gains/(losses) -
net |
|
342.261 |
351.374 |
|
|
TOTAL |
|
23241.332 |
21290.999 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
6524.415 |
6286.840 |
|
|
Licence Fees |
|
192.195 |
153.995 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
0.115 |
(0.236) |
|
|
Employees benefits
expense |
|
3739.902 |
3226.882 |
|
|
Other expenses |
|
350.398 |
545.107 |
|
|
Share of net profit of
associates accounted for using the equity method |
|
(0.601) |
(0.680) |
|
|
TOTAL |
|
10806.424 |
10211.908 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
12434.908 |
11079.091 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
1288.908 |
1219.022 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
11146.000 |
9860.069 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
5977.343 |
5220.068 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
5168.657 |
4640.001 |
|
|
|
|
|
|
|
Less |
TAX |
|
1675.445 |
1571.510 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
3493.212 |
3068.491 |
|
|
|
|
|
|
|
|
Exceptional item -
Deferred tax |
|
0.000 |
439.742 |
|
|
|
|
|
|
|
|
Profit for the year |
|
3493.212 |
3508.233 |
|
|
|
|
|
|
|
|
Item that will not be
reclassified to profit or loss |
|
|
|
|
|
Changes in fair value of FVOCI
Equity instruments |
|
(29.421) |
(5.242) |
|
|
Remeasurements of
post-employment benefit obligation |
|
(21.143) |
9.162 |
|
|
Income tax relating to these
items |
|
14.865 |
(1.770) |
|
|
Other Comprehensive Income |
|
35.699 |
-2.150 |
|
|
Total Other Comprehensive Income for the
year |
|
3475.513 |
3510.383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
10.69 |
9.39 |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
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 |
BACKGROUND
Subject is a
Company limited by shares, incorporated and domiciled in India. The Company is
engaged primarily in printing and publication of Newspaper and Magazines in
India. The other activities of the Company comprise outdoor advertising
business, event management services and digital business. The Company is a
public limited Company and its equity shares are listed on Bombay Stock
Exchange (BSE) and National Stock Exchange (NSE).
FINANCIAL HIGHLIGHTS
STANDALONE
In the year
2016-17, the Company recorded growth of 6.81% in revenue from operations and
growth of
16.4% in Net Profit.
SCHEME
OF ARRANGEMENTS:
a)
Scheme of Arrangement of Suvi-Info Management (Indore) Private Limited (Suvi):
The scheme of
arrangement for amalgamation of Suvi-Info Management (Indore) Private Limited
(Suvi) with Jagran Prakashan Limited (JPL) was sanctioned by the Hon’ble High
Court of Allahabad by its order dated March 16, 2016 and the Hon’ble High Court
of Bombay by its order dated December 2, 2016. The Scheme came into effect on
December 27, 2016, which was the date on which a certified copy of the order of
the High Court of Bombay and High Court of Allahabad sanctioning the Scheme was
filed with the Registrar of Companies, Mumbai and the Registrar of Companies,
Uttar Pradesh with appointed dated of January 1, 2016. SUVI was a wholly-owned
subsidiary of the Company and therefore there was no issue of shares by the
Company to the shareholders of SUVI.
b)
Composite Scheme of Arrangement of Jagran Prakashan Limited, Crystal Sound and
Music Private Limited, Spectrum Broadcast Holdings Private Limited, Shri Puran
Multimedia Limited and Music Broadcast Limited:
The composite
scheme of arrangement for amalgamation of Crystal Sound and Music Private
Limited (Crystal) and Spectrum Broadcast Holdings Private Limited (Spectrum)
with Jagran Prakashan Limited (JPL) and the demerger of radio business
undertaking of Shri Puran Multimedia Limited (SPML) into Music Broadcast
Limited (MBL) (referred to as “the Scheme”) was sanctioned by the Hon’ble High
Court of Allahabad by its order dated September 22, 2016 and the Hon’ble High
Court of Bombay by its order dated October 27, 2016. The Scheme became
effective upon filing of the court orders with the respective Registrar of
Companies of Uttar Pradesh on November 18, 2016 and Mumbai on November 17, 2016
with appointed dated of January 1, 2016.
In terms of the
Scheme, business and undertaking of Spectrum and Crystal were transferred to and
vested in favour of JPL. As Crystal was a wholly owned subsidiary of Spectrum,
which in turn was a wholly owned subsidiary of JPL, therefore there was no
issue of shares by JPL to the shareholders of Crystal and Spectrum.
Also, in terms of
the Scheme, radio business undertaking of SPML, was transferred to and vested
in favour of MBL and the shareholders of SPML were allotted 10 fully paid up
equity shares of face value of `10/- each of MBL for every 112 equity shares of
SPML held by them.
As result of the
above schemes, Suvi-Info Management (Indore) Private Limited, Crystal Sound and
Music Private Limited and Spectrum Broadcast Holdings Private Limited
subsidiaries of the Company ceased to be in existence.
MANAGEMENT
DISCUSSION AND ANALYSIS
FORWARD-LOOKING
STATEMENTS:
This report
contains forward-looking statements, which may be identified by their use of
words like ‘plans’, ‘expects’, ‘will’, ‘anticipates’, ‘believes’, ‘intends’,
‘projects’, ‘estimates’ or other words of similar import. All statements that
address expectations or projections about the future, including but not limited
to statements about the Company’s strategy for growth, product development,
market position, expenditure, and financial results, are forward-looking
statements. Forward-looking statements are based on certain assumptions and
expectations of future events. The Company cannot guarantee that these
assumptions and expectations are accurate or will be realized. The Company’s
actual results, performance or achievements could thus differ materially from
those projected in any such forward-looking statements. The Company assumes no
responsibility to publicly amend, modify or revise any forward looking
statements, on the basis of any subsequent developments, information or events.
OVERVIEW:
Indian
Economy:
In the post-Brexit
and post-Trump era that they are all learning to grapple with, and the early
warning signals they are seeing of increasing protectionism and closing
boundaries, the Indian economy continues to be a shining albeit flickering
light in the world economy. Latest official estimates project a GDP growth rate
of 7.1 percent for the year 2016-17 which is lower than the one attained in the
previous fiscal. Inflation is also well within control and fiscal deficit will not
cause worry even if it exceeds the target. Thus, macro fundamentals of the
economy which typically are used to highlight the strength of an economy are
positive and seem to suggest a foundation of higher growth, prosperity and
wellness. Even the business confidence and the consumer confidence indices are
high suggesting a platform for increased level of economic activity supported
by a spurt in demand.
However, the
challenges which the economy is currently facing are serious in nature and are
likely to come in the way of materialization of these expectations and demand
escalation in the near future. These challenges are unemployment,
underemployment, one of the lowest gross fixed capital formation and increasing
inequality in distribution of income despite the government’s good intentions.
While a 7% plus growth being recorded year after year for more than 3 years
makes the Indian economy the fastest growing economy of the world; joblessness
and underemployment are the key risks to the sustainability of this kind of
growth in the medium to long term.
In fiscal 2016-17,
the growth in manufacturing and mining remained muted and was lower than the
previous year. It was agriculture that helped the country register growth
exceeding 7%. Due to a good monsoon, the year began with a lot of optimism.
However, still higher growth expected because of the stimulus provided by the
implementation of the 7th pay commission and a good monsoon, in the economy and
in the media and entertainment industry which thrives on increased income and
liquidity, did not materialize. The economy did very well till the end of the
festive season but the demonetization derailed the progress and the growth
nosedived for everyone. In fact, many categories reported steep de-growth in
their sales in the months after demonetization. They, however, believe that the
pains caused by demonetization are short term in nature and will recede in a
couple of quarters. But, returning to the growth levels of 2015-16 may take
more than a year. The year 2016-17 will also go down in Indian history as a
year of one of the biggest ever financial reforms in the form of GST which is
expected to be rolled out from July 2017. There is no doubt that this was a
long awaited and much needed reform and will help the Indian economy in the
medium to long term, but its short term impact on growth and consumption is
uncertain largely because of initial teething problems in implementation,
application and enforcement.
Exports, for
India, have been a growth engine and off shore employment opportunities have
provided jobs to many Indians but they can no longer rely on exports nor depend
on these opportunities in the current protectionist environment. The need of
the hour is to fundamentally reignite domestic consumption and create job
opportunities at a faster pace through reimagining their strategies.
Indian
Media and Entertainment Industry:
The Indian Media
industry grew at 9.1% which was the slowest growth registered in the last five
years due to the adverse impact of demonetisation. While a 9.1% growth as
compared to global benchmarks is very attractive but by Indian standards it is
far from satisfactory. This drop reaffirms the discretionary nature of
advertising spends in the country and the impact that any large scale turbulence
in the economy can have on this industry, Television grew at 8.5% primarily due
to a lacklustre year for subscription revenues and speed bumps in advertisement
revenue growth primarily due to slower domestic consumption and the Broadcast
Association Research Council (BARC) data recalibration. Print revenue grew at
7% as English language newspapers continued to be under stress. However
Regional languages sustained their strong growth levels. Films had a
disappointing year with mere 3% growth on the back of poor box office
performance of Bollywood and Tamil films. Digital advertising continued its
momentum with a 28% growth to reach 15% share in the overall adpie. OOH segment
registered a slowdown in growth rate at 7% on the back of demonetisation. Although
billboards continue to account for the largest revenue pie, new metro lines,
malls, corporate parks and leading airports are providing a much needed boost
to the overall sector. Radio registered a 14.6% growth led by volume
enhancements in smaller cities, partial roll out of batch 1 of phase III
stations and marginal increase in effective rates.
In India, the
percentage of advertising expenditure to GDP has continued to be less than 0.50%
for several years. This is substantially lower in comparison to the developed
economies as well as other developing economies. They believe that the long
term growth trajectory of this industry is clearly visible and the future is
very sanguine. This growth however can happen only on the back of balanced
distribution of per capita income through creation of employment opportunities
commensurate with India’s increasing employable work force.
UNSECURED LOAN:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Liability Component of debentures |
0.000 |
340.064 |
|
Total |
0.000 |
340.064 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
G60044815 |
100131258 |
CENTRAL BANK OF
INDIA |
04/10/2017 |
829000.0 |
GUMTI NO.
5KANPURUR208012IN |
|
2 |
G36802312 |
100079470 |
CENTRAL BANK OF
INDIA |
10/02/2017 |
50000.0 |
GUMTI
NO.5KANPURUP208012IN |
|
3 |
G30270052 |
100066710 |
CENTRAL BANK OF INDIA |
24/11/2016 |
387500.0 |
GUMTI
NO.5KANPURUP208012IN |
|
4 |
G12738720 |
100051615 |
CENTRAL BANK OF
INDIA |
28/06/2016 |
150000.0 |
GUMTI
NO.5KANPURUP208012IN |
|
5 |
G12739306 |
100051617 |
CENTRAL BAK OF
INDIA |
10/06/2016 |
1539570.0 |
GUMTI NO.5KANPURUP208012IN |
|
6 |
G06536791 |
100036539 |
CENTRAL BANK OF
INDIA |
10/06/2016 |
297300.0 |
GUMTI
NO.5KANPURUP208012IN |
|
7 |
G06535595 |
100036559 |
CENTRAL BANK OF
INDIA |
10/06/2016 |
250000.0 |
GUMTI
NO.5KANPURUP208012IN |
|
8 |
G06081384 |
100034363 |
CENTRAL BANK OF
INDIA |
04/06/2016 |
51034.0 |
GUMTI
NO.5KANPURUP208012IN |
|
9 |
G06081632 |
100034364 |
CENTRAL BANK OF
INDIA |
04/06/2016 |
116356.0 |
GUMTI NO.
5KANPURUP208012IN |
|
10 |
G06105266 |
100035417 |
CENTRAL BANK OF
INDIA |
04/06/2016 |
556000.0 |
GUMTI
NO.5KANPURUP208012IN |
STATEMENT OF
STANDALONE UN-AUDITED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER
31, 2017
(INR in million)
|
Particulars |
Quarter
Ended |
Nine months ended |
||||
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
||||
|
Unaudited |
Unaudited |
Unaudited |
||||
|
|
Income from
Operations |
|
|
|
||
|
|
Net Sales/Income from Operations (net of excise duty) |
4954.984 |
4645.146 |
14518.482 |
||
|
|
Other Income |
62.119 |
74.002 |
208.218 |
||
|
|
Total Income from
Operations (Net) |
5017.103 |
4719.148 |
14726.700 |
||
|
|
Expenses |
|
|
|
||
|
|
|
Cost of Materials consumed |
1619.390 |
1585.227 |
4835.853 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
0.055 |
0.056 |
0.175 |
|
|
|
|
Employee benefit expenses |
719.757 |
733.389 |
2178.020 |
|
|
|
|
Finance Costs |
36.323 |
35.745 |
105.013 |
|
|
|
|
Depreciation and amortization expense |
208.241 |
204.773 |
608.951 |
|
|
|
|
Other expenses |
1254.210 |
1221.072 |
3709.592 |
|
|
|
Total Expenses |
3837.976 |
3780.262 |
11437.604 |
||
|
|
|
|
|
|
||
|
|
|
Profit /(Loss)
before tax |
1179.127 |
938.886 |
3289.096 |
|
|
|
Tax Expense |
|
|
|
||
|
|
Current tax |
361.725 |
333.900 |
863.025 |
||
|
|
Deferred tax |
43.437 |
(8.741) |
256.545 |
||
|
|
Total tax expenses |
405.162 |
325.159 |
1119.570 |
||
|
|
|
Profit /(Loss) after tax |
773.965 |
613.727 |
2169.526 |
|
|
|
Other Comprehensive
Income |
|
|
|
||
|
|
Item that will not be reclassified to profit or loss |
|
|
|
||
|
|
Changes in fair value of FVOCI Equity instruments |
(0.298) |
(0.297) |
(6.765) |
||
|
|
Remeasurements of post-employment benefit obligation |
(0.775) |
(0.776) |
(2.326) |
||
|
|
Income tax relating to these items |
0.337 |
0.337 |
2.366 |
||
|
|
Other Comprehensive Income |
(0.736) |
(0.736) |
(6.725) |
||
|
|
Total Other Comprehensive Income for the year |
773.229 |
612.991 |
2162.801 |
||
|
|
Paid-up equity share capital (Face value INR 2/- per share) |
622.824 |
622.824 |
622.824 |
||
|
|
Earnings per share (EPS)
(INR)(before extraordinary items) |
|
|
|
||
|
|
Basic |
2.49 |
1.98 |
6.94 |
||
|
|
Diluted |
2.49 |
1.98 |
6.94 |
||
|
|
|
|
|
|
||
|
|
Includes |
|
|
|
||
|
|
Direct outdoor activation and online expenses |
348.264 |
300.493 |
956.273 |
||
|
|
Stores and spares consumption |
114.741 |
123.593 |
368.816 |
||
REPORTING OF
UNAUDITED SEGMENT INFORMATION
(INR In Million)
|
Sr. No. |
Particular |
Quarter
Ended |
Nine months ended |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
1. |
Segment Revenue |
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
|
Printing Publishing and digital |
4861.515 |
4658.056 |
14418.232 |
|
|
FM Radio |
761.821 |
758.288 |
2223.164 |
|
|
Other |
383.887 |
284.085 |
1021.419 |
|
|
Total |
6007.223 |
5700.429 |
17662.815 |
|
|
Less: Inter
Segment Revenue |
(26.530) |
(34.946) |
(103.329) |
|
|
Net Sales / Income
from Operations |
5980.693 |
5665.483 |
17559.486 |
|
|
|
|
|
|
|
2. |
Segment Result |
|
|
|
|
|
Profit/(Loss) before tax and Interest from each segment |
|
|
|
|
|
Printing Publishing and digital |
1133.749 |
940.729 |
3246.105 |
|
|
FM Radio |
114.787 |
121.127 |
341.865 |
|
|
Other |
42.082 |
(9.355) |
47.849 |
|
|
Total |
1290.618 |
1052.501 |
3635.819 |
|
|
|
|
|
|
|
|
Less : Finance
Income |
84.560 |
111.318 |
306.407 |
|
|
Finance
Cost |
(75.986) |
(74.147) |
(221.850) |
|
|
Unallocable other income |
23.529 |
14.036 |
47.259 |
|
|
Unallocable corporate expenditure |
(4.746) |
(6.100) |
(18.938) |
|
|
Before tax share of
Profit/(Loss) of associates and tax |
1317.975 |
1097.608 |
3748.697 |
|
|
|
|
|
|
|
|
Add: Share of
Profit/(Loss) of associates |
(0.082) |
(0.180) |
0.185 |
|
|
|
|
|
|
|
|
Profit Before
Tax |
1317.893 |
1097.428 |
3748.882 |
|
|
|
|
|
|
|
3. |
Segment Assets |
|
|
|
|
|
Printing Publishing and digital |
14289.284 |
15480.932 |
14289.284 |
|
|
FM Radio |
10636.769 |
8825.000 |
10636.769 |
|
|
Other |
956.329 |
832.909 |
956.329 |
|
|
Total Segment
Assets |
25882.382 |
25138.841 |
25882.382 |
|
|
Add: Unallocable |
4762.173 |
6879.854 |
4762.173 |
|
|
Total Assets |
30644.555 |
32018.695 |
30644.555 |
|
|
|
|
|
|
|
|
Segment liabilities
|
|
|
|
|
|
Printing Publishing and digital |
2683.605 |
3816.647 |
2683.605 |
|
|
FM Radio |
703.879 |
658.200 |
703.879 |
|
|
Other |
463.845 |
341.642 |
463.845 |
|
|
Total Segment
liabilities |
3851.329 |
4816.489 |
3851.329 |
|
|
Add: Unallocable |
4560.547 |
5838.451 |
4560.547 |
|
|
Total liabilities |
8411.876 |
10654.940 |
8411.876 |
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Bank Guarantees given |
68.299 |
121.398 |
|
In respect of various pending labour and defamation cases (In view of large number of cases, it is impracticable to disclose the details of each cases. Further the amount of most of these is either not quantifiable or cannot be reliably estimated). Demand of INR 11.200 Million received from Collector (Stamp) regarding stamp duty payable on amalgamation of subsidiary companies with Jagran Prakashan Limited in the year 2002, which has been stayed by the Hon’ble High Court. Stamp duty on immovable assets of Naidunia which are yet to be transferred in the name of the Company is estimated to be INR 30.000 Million. |
||
FIXED ASSETS:
TANGIBLE
ASSETS
- Freehold Land
- Leasehold Land
- Buildings
- Leasehold Improvements
- Plant and Machinery
- Furniture and Fixture
- Vehicles
- Office Equipment
- Computers
INTANGIBLE
ASSETS
- Title – Dainik Jagran
- Computer Software
- Goodwill
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
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.