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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

502323

Report Date :

06.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

THE SANDESH LIMITED                             

 

 

Registered Office :

Sandesh Bhavan, Lad Society Road, Behind Vastrapur Gam, P.O. Bodakdev Ahmedabad – 380054, Gujarat

Tel. No.:

91-79-40004319 / 40004175 / 40004000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

11.03.1943

 

 

Com. Reg. No.:

04-000183

 

 

Capital Investment / Paid-up Capital :

INR 75.694 Million

 

 

CIN No.:

[Company Identification No.]

L22121GJ1943PLC000183

 

 

IEC No.:

[Import-Export Code No.]

0891011030

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACT5730D

 

 

GSTN :

[Goods & Service Tax Registration No.]

24AAACT5730D1ZS

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company is operating into Media Industry. It is a publisher of “SANDESH” a premier Gujarati daily newspaper. (Registered activity)

 

 

No. of Employees :

488 (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 17000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1943. It is one of the leading print media companies in Gujarat, having presence for more than six decades in Gujarati Print media through its newspaper “Sandesh”.

 

The company has its printing press at Ahmedabad, Vadodara, Bhuj, Surat, Rajkot and Bhavnagar covering circulation across the state of Gujarat.

 

For the financial year 2017, the company has reported decline in its revenue as compared to previous year but has managed to maintain decent profit margin of 19.56%.

 

The healthy financial profile of the company is marked by strong networth base and satisfactory liquidity positions along with strong debt coverage indicators due to low debt balance sheet profile.

 

The company has favourable Earning Per Share (EPS) of INR 93.73 against a face value (FV) of INR 10.

 

The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters.

 

The company has its share price trading at around INR 1047.05 against the Face Value (FV) of INR 01 on BSE as on 5th April, 2018.

 

As per the unaudited quarterly financials of December 2017, the company has achieved revenue of INR 948.715 million and has reported profit margin of 18.70%.

 

However, these rating strengths are partially offset by unfavourable gap between trade payables and trade receivables.

 

Business is active. Payment seems to be regular.

 

In view of aforesaid, the company can be considered for good business dealings at usual trade terms and conditions.

 

Note: The correct name of the subject is “The Sandesh Limited”.

 

 

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

CARE

Rating

Long Term Bank Facilities = AA

Rating Explanation

High degree of safety and carry very low credit risk.

Date

06.10.2017

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities = A1+

Rating Explanation

Very strong degree of safety and carry very low credit risk.

Date

06.10.2017

 

 

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-COOPERATIVE (91- 79- 26765480 / 81)

 

91-79-40004000 (RINGING)

 

LOCATIONS

 

Registered / Head Office :

Sandesh Bhavan, Lad Society Road, Behind Vastrapur Gam, P.O. Bodakdev, Ahmedabad – 380054, Gujarat, India

Tel. No.:

91-79-40004319 / 40004175 / 40004000

Fax No.:

91-79-40004242

E-Mail :

secretarial@sandesh.com

advt@sandesh.com

cs@sandesh.com

investorsgrievance@sandesh.com

Website :

http://www.sandesh.com

 

 

Plants / Press Locations :

1) “SANDESH BHAVAN”, Lad Society Road, B/h. Vastrapur Gam, P.O. Bodakdev, Ahmedabad – 380054, Gujarat, India

 

2) “SATYESH BHAVAN”, B/h. Jalaram Temple, Bahucharaji Road, Karelibaug, Vadodara, Gujarat, India

 

3) “SATYESH BHAVAN”, Dakoriya Mill Compound, Near Gurudev Petrol Pump, Khatodara GIDC, Bamroli Road, Surat, Gujarat, India

 

4) “SANDESH BHAVAN”, Opposite Sat Hanuman, Navagam, Rajkot-Ahmedabad Highway, Rajkot, Gujarat, India

 

5) “SATYESH BHAVAN”, Ruvapari Road, Bhavanagar, Gujarat, India

 

6) Godown No.3, Gujarat State Warehousing Corporation, Near Atmaram Circle and Bajaj Showroom, Bhuj Madhapar Road, Bhuj, Gujarat, India

 

 

Branch Offices :

Located at:

 

·         Vadodara

·         Surat

·         Bhavnagar

·         Bhuj

·         Mumbai

·         New Delhi

·         Kolkata

·         Chennai

·         Bangalore

 

 

Representative Offices :

Located at:

 

·         Secunderabad

·         Indore

·         Jaipur

·         Kanpur

·         Patna

·         Nasik

·         Nagpur

·         Ludhiana

·         Cochin

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Falgunbhai Chimanbhai Patel

Designation :

Managing Director

Address :

'Satyeshlila', Hirabaug, Ambawadi Ellisbridge Ahmedabad – 380006, Gujarat, India

Date of Appointment :

27.11.1974

DIN No.:

00050174

 

 

Name :

Mr. Parthiv Falgunbhai Patel

Designation :

Managing Director    

Address :

'Satyeshlila', Hirabaug, Ambawadi Ellisbridge Ahmedabad – 380006, Gujarat, India

Date of Birth/ Age :

26.07.1982

Educational Qualification :

B.A. with Business Finance from United Kingdom

Date of Appointment :

14.03.2002

DIN No.:

00050211

 

 

Name :

Mrs. Pannaben Falgunbhai Patel

Designation :

Director

Address :

'Satyesh Lila', Hirabaug, Ambawadi Ellisbridge Ahmedabad – 380006, Gujarat, India

Date of Birth/ Age :

17.10.1952

Qualification :

B.A. with Economics

Brief resume and expertise functional area :

She is a social worker and associated with many social groups and charitable entities. She is actively involved in various philanthropic activities in the interest of the community.

Date of Appointment :

29.10.2010

DIN No.:

00050222

 

 

Name :

Mr. Sudhirbhai Nanavati

Designation :

Independent Director   

Address :

Shri Sharnam 16 A And B, Ashok Vatika, Ambli Bopal Road, Ahmedabad – 380058, Gujarat, India

Date of Birth/ Age :

29.09.1947

Educational Qualification :

B. Com, LLB.

Date of Appointment :

31.01.2001

DIN No.:

00050236

 

 

Name :

Mr. Shreyas Pandya

Designation :

Independent Director   

Address :

Plot No. 10 Shivalik Greens Ambli, Santoor Bungalows Lane, Ahmedabad – 380058, Gujarat, India

Date of Birth/ Age :

01.10.1952

Educational Qualification :

B.Com, Diploma in Printing Technology

Date of Appointment :

30.12.2005

DIN No.:

00050244

 

 

Name :

Mr. Mukesh Patel

Designation :

Independent Director   

Address :

"Prakruti", 11, Ashwamegh Bunglow, Part- II, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/ Age :

22.01.1954

Date of Appointment :

30.03.2005

DIN No.:

00053892

 

 

Name :

Mr. Sandeep Singhi

Designation :

Independent Director   

Address :

B-1102, Sundarvan Epitome, B/H, Sundervan, Near, Red Briks School, Jodhpur, Ahmedabad – 380015, Gujarat, India

Date of Birth/ Age :

06.04.1966

Educational Qualification :

B.Sc., LLB

Date of Appointment :

09.11.2012

DIN No.:

01211070

 

 

Name :

Mr. Yogesh Jani

Designation :

Wholetime Director

Address :

36, Sharda Society, Paldi, Ahmedabad – 380007, Gujarat, India

Date of Birth/ Age :

18.09.1950

Educational Qualification :

B.Com

Date of Appointment :

30.09.2015

DIN No.:

06495782

 

 

KEY EXECUTIVES

 

Name :

Mr. Sanjay Kumar Tandon

Designation :

Chief Executive Officer

Address :

G-71, 7th Floor,"Tirthdham" Apartment Near Surel Flats, Opposite Dev Ashish School, Bodakdev, Ahmedabad- 380054, Gujarat, India

Date of Appointment :

06.11.2015

PAN No.:

ABVPT1635Q

 

 

Name :

Mr. Dhaval Maheshbhai Pandya

Designation :

Company Secretary

Address :

A-004, Sagar Samrat Flats T. O. I. Press Road, Satellite, Ahmedabad- 380051, Gujarat, India

Date of Appointment :

30.07.2009

PAN No.:

AHZPP6601J

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on December, 2017

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares

Promoter and Promoter Group

5663017

74.81

Public

1906404

25.19

Grand Total

7569421

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

A1) Indian

0.00

Individuals/Hindu undivided Family

1777400

23.48

PARTHIV FALGUNBHAI PATEL

995400

13.15

PANNABEN FALGUNBHAI PATEL

200000

2.64

RITABEN CHIMANBHAI PATEL

10350

0.14

FALGUNBHAI CHIMANBHAI PATEL

386350

5.10

FALGUNBHAI CHIMANBHAI PATEL (HUF)

185300

2.45

Any Other (specify)

3885617

51.33

SATYESH PROCHEM LLP

3165929

41.83

SCABIOUS ENTERPRISE LLP

420831

5.56

SAINTFOIN ENTERPRISE LLP

298857

3.95

Sub Total A1

5663017

74.81

A2) Foreign

0.00

A=A1+A2

5663017

74.81

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares

B1) Institutions

0

0.00

Mutual Funds/

253

0.00

Foreign Portfolio Investors

1015

0.01

Financial Institutions/ Banks

600

0.01

Sub Total B1

1868

0.02

B2) Central Government/ State Government(s)/ President of India

0

0.00

B3) Non-Institutions

0

0.00

Individual share capital upto INR 0.200 Million

616517

8.14

Individual share capital in excess of INR 0.200 Million

192385

2.54

SEETHA KUMARI

120231

1.59

Any Other (specify)

1095634

14.47

Bodies Corporate

969636

12.81

ANWESHA STOCKTRADE PRIVATE LIMITED

193300

2.55

ZORA TRADERS LIMITED

342900

4.53

REDWOOD HOLDING PRIVATE LIMITED

156500

2.07

NRI

32958

0.44

HUF

43619

0.58

Unclaimed or Suspense or Escrow Account

6300

0.08

INVESTOR EDUCATION PROTECTION FUND

43121

0.57

Sub Total B3

1904536

25.16

B=B1+B2+B3

1906404

25.19

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is operating into Media Industry. It is a publisher of “SANDESH” a premier Gujarati daily newspaper. (Registered activity)

 

 

Products :

Item Code No.

Product Description

58131

Sale of newspapers and other publications

Advertisement Revenue

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

488 (Approximately) 

 

 

Bankers :

Bank Name

HDFC Bank Limited

Branch

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

  • Yes Bank Limited

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Loans repayable on demand

 

 

From Banks

 

 

Working capital loan

(The working capital loan is secured against charge over all movable assets of the company)

0.000

94.717

 

 

 

Total

0.000

94.717

 

Auditors :

 

Name :

Manubhai and Shah LLP (Formerly known as Manubhai and Shah)

Chartered Accountants 

Address :

2nd Floor, "B" Wing, Premium House, Near Gandhigram Railway Station, Navrangpura, Ahmedabad – 380009, Gujarat, India

Tel No.:

91- 79- 26580956, 26580966 

Fax No.:

91- 79- 26583573

Email:

info@msglobal.co.in

 

 

Secretarial Auditors:

M/s. Jignesh A. Maniar and Associates,

Practicing Company Secretaries

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Wholly Owned Subsidiary
  • Sandesh Digital Private Limited

U22100GJ2015PTC083461

 

 

Associate :
  • Applewoods estate private limited

U45201GJ2007PTC052343

 

 

Subsidiary of associate
  • Stanford Operation and Maintainance Private Limited (w.e.f. 01.06.2016)

 

 

Enterprise over which Key Management Personnel having control or significant influence:
  • Sandesh Procon LLP
  • Saintfoin Enterprise LLP
  • Scabious Enterprise LLP
  • Satyesh Prochem LLP
  • Satlon Enterprise Private Limited

 

 

Post - employment benefit plan entities :
  • Sandesh Employee Gratuity Fund
  • Sandesh Superannuation Fund

 

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000000

Equity Shares

INR 10/- each

INR 150.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7569421

Equity Shares

INR 10/- each

INR 75.694 Million

 

 

 

 

 

Rights, preferences and restrictions :

 

i The Company has only one class of equity shares referred to as equity shares having a par value of ` 10. Each holder of equity share is entitled to one vote per share.

 

ii Dividends, if any, is declared and paid in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

 

iii In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

1,18,193 Equity Shares were bought back in the financial year 2009 - 10 and 9,60,000 equity shares were bought back in financial year 2012 - 13.

 

Details of shareholders holding more than 5 per cent shares :

 

Name of the Shareholders

As at March 31, 2017

 

No. of Shares

% of Shareholding

Falgunbhai Chimanbhai Patel

386350

5.10%

Parthiv Falgunbhai Patel

995400

13.15%

Satlon Enterprise Private Limited

--

--

Satyesh Prochem LLP

3165929

41.82%

Scabious Enterprise LLP

4 20 831

5.56%

 

 

Reconciliation of number of shares outstanding:

 

Particulars

As at March 31, 2016

Equity Shares at the beginning of the year

7569421

Add: issued during the year

0.000

Equity Shares at the end of the year

7569421

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

75.694

75.694

75.694

(b) Reserves & Surplus

5816.742

5625.850

4467.023

(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)

5892.436

5701.544

4542.717

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

32.167

259.599

44.207

(c) Other long term liabilities

0.000

0.000

80.747

(d) long-term provisions

23.636

20.197

16.723

Total Non-current Liabilities (3)

55.803

279.796

141.677

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

19.886

142.486

100.283

(b) Trade payables

153.907

128.293

70.212

(c) Other current liabilities

780.990

765.083

597.811

(d) Short-term provisions

2.740

2.572

33.867

Total Current Liabilities (4)

957.523

1038.434

802.173

 

 

 

 

TOTAL

6905.762

7019.774

5486.567

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

703.877

719.906

702.085

(ii) Intangible Assets

31.341

6.136

5.600

(iii) Capital work-in-progress

108.081

3.173

7.102

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

2848.191

3516.289

1588.022

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

495.766

(e) Other Non-current assets

114.919

578.783

615.124

Total Non-Current Assets

3806.409

4824.287

3413.699

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

522.600

412.406

118.173

(b) Inventories

435.470

233.040

605.956

(c) Trade receivables

683.082

631.866

564.455

(d) Cash and cash equivalents

1212.210

725.683

208.802

(e) Short-term loans and advances

4.379

136.001

575.482

(f) Other current assets

241.612

56.491

0.000

Total Current Assets

3099.353

2195.487

2072.868

 

 

 

 

TOTAL

6905.762

7019.774

5486.567

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

3623.595

3740.097

3448.884

 

Other Income

49.982

42.583

13.663

 

TOTAL

3673.577

3782.680

3462.547

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1245.319

1252.727

1354.002

 

Purchases of Stock-in-Trade

0.430

1.470

41.695

 

Employees benefits expense

324.204

333.059

264.940

 

Exceptional items

(4.107)

(0.052)

(0.541)

 

Other expenses

911.822

872.651

820.788

 

TOTAL

2477.668

2459.855

2480.884

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1195.909

1322.825

981.663

 

 

 

 

 

Less

FINANCIAL EXPENSES

10.559

17.737

43.197

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

1185.350

1305.088

938.466

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

77.430

77.111

79.780

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1107.920

1227.977

858.686

 

 

 

 

 

Less

TAX

399.023

431.331

288.325

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

708.897

796.646

570.361

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Other income

 NA

5.660

4.459

 

TOTAL EARNINGS

 NA

5.660

4.459

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

 NA

909.315

909.604

 

Capital Goods

 NA

0.000

0.871

 

TOTAL IMPORTS

 NA

909.315

910.475

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

93.73

116.09

75.35

 

 

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

1359.948

1393.290

821.579

Net cash flow from operating activity

964.941

973.417

549.063

 

 

QUARTERLY RESULTS

 

Particulars

30.06.2017

30.09.2017

31.12.2017

Audited / Unaudited

Unaudited

Unaudited

Unaudited

 

1st Quarter

2nd Quarter

3rd Quarter

Net Sales

998.870

918.850

948.720

Total Expenditure

634.530

607.740

675.930

PBIDT (Excl OI)

364.340

311.110

272.790

Other Income

17.130

41.720

28.240

Operating Profit

381.470

352.850

301.030

Interest

1.030

1.020

1.020

Exceptional Items

3.060

0.120

2.410

PBDT

383.500

351.910

302.420

Depreciation

19.170

21.260

21.930

Profit Before Tax

364.330

330.650

280.490

Tax

131.210

105.510

103.050

Provisions and contingencies

NA

NA

NA

Profit After Tax

233.120

225.150

177.440

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

233.120

225.150

177.440

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

68.81

61.66

59.74

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.30

5.92

6.11

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

45.09

37.34

18.36

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

2.75

5.68

1.62

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

1.42

1.81

1.37

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.14

0.15

0.15

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.02

0.02

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.16

0.18

0.18

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.14

0.13

0.16

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

113.26

74.58

22.73

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

19.56

21.30

16.54

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

10.27

11.35

10.40

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

12.03

13.97

12.56

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

3.24

2.11

2.58

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.78

1.89

1.83

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.85

0.81

0.83

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.26

1.88

1.32

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

3.24

2.11

2.58

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 10.00/- each

Market Value

INR 1047.05/- each

 

 

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

75.694

75.694

75.694

Reserves & Surplus

4467.023

5625.850

5816.742

Net worth

4542.717

5701.544

5892.436

 

 

 

 

Long Term borrowings

0.000

0.000

0.000

Short Term borrowings

100.283

142.486

19.886

Total borrowings

100.283

142.486

19.886

Debt/Equity ratio

0.022

0.025

0.003

 

 

 

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

3448.884

3740.097

3623.595

 

 

8.444

(3.115)

 

 

 

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

3448.884

3740.097

3623.595

Profit

570.361

796.646

708.897

 

16.54%

21.30%

19.56%

 

 

 

ABRIDGED BALANCE SHEET – (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

75.694

75.694

(b) Reserves & Surplus

 

5838.010

5627.892

(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)

 

5913.704

5703.586

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

32.128

259.602

(d) long-term provisions

 

23.708

20.222

Total Non-current Liabilities (3)

 

55.836

279.824

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

19.886

142.486

(b) Trade payables

 

154.702

129.841

(c) Other current liabilities

 

781.557

765.632

(d) Short-term provisions

 

2.740

2.572

Total Current Liabilities (4)

 

958.885

1040.531

 

 

 

 

TOTAL

 

6928.425

7023.941

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

703.877

719.906

(ii) Intangible Assets

 

31.341

6.136

(iii) Capital work-in-progress

 

108.081

3.173

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

2861.466

3516.189

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

115.046

578.839

Total Non-Current Assets

 

3819.811

4824.243

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

527.185

412.406

(b) Inventories

 

435.470

233.040

(c) Trade receivables

 

686.433

635.795

(d) Cash and cash equivalents

 

1213.492

726.972

(e) Short-term loans and advances

 

4.378

134.401

(f) Other current assets

 

241.656

57.084

Total Current Assets

 

3108.614

2199.698

 

 

 

 

TOTAL

 

6928.425

7023.941

 

 

PROFIT & LOSS ACCOUNT– (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

3642.593

3752.018

 

Other Income

 

50.067

42.583

 

TOTAL

 

3692.660

3794.601

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

1245.319

1252.727

 

Purchases of Stock-in-Trade

 

0.430

1.470

 

Employees benefits expense

 

330.472

336.320

 

Share of Profit of associate

 

(13.330)

0.000

 

Exceptional items

 

(4.107)

(0.052)

 

Other expenses

 

915.838

877.613

 

TOTAL

 

2474.622

2468.078

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

1218.038

1326.523

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

10.967

17.835

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

1207.071

1308.688

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

77.430

77.111

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

1129.641

1231.577

 

 

 

 

 

Less

TAX

 

401.590

432.608

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

728.051

798.969

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

96.27

116.41

 

 

LEGAL CASE

 

HIGH COURT OF GUJARAT

 

TAX APPEAL (TAX APPEAL) No. 180 of 2018

Status : PENDING

( Converted from : O/ST/860/2017 )

CCIN No : 001092201800180

 

Last Listing Date:

27/02/2018

Coram

HONOURABLE MR.JUSTICE AKIL KURESHI

HONOURABLE MR.JUSTICE B.N. KARIA

 

S.NO.

Name of the Petitioner

Advocate On Record

1

PR. COMMISSIONER OF INCOME TAX-4, AHMEDABAD

MRS MAUNA M BHATT for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

S.NO.

Name of the Respondant

Advocate On Record

1

THE SANDESH LTD

MR B S SOPARKAR for :Opponent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

Presented On

: 28/04/2017

Registered On

: 23/02/2018

Bench Category

: DIVISON BENCH

District

: AHMEDABAD

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 0 times

StageName

: ADMISSION ( FRESH MATTERS )

 

 

Office Objection

Process Stage
Process Stage
Process Stage
Process Stage

2. WHETHER POINTS FORMULATED ?

6. WHETHER FILED WITHIN LIMITATION ?

7. WHETHER DELAY CONDONATION APPLICATION IS FILED ?

12. WHETHER CERTIFIED COPIES FILED ? APPELLATE JUDGEMENT

 

Classification

DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260A

Act

INCOME-TAX ACT, 1961

 

Other Forums

S.No.

CASEDETAILS

TRIBUNAL REFERRENCE

ORDER PASSED BY

JUDGEMENT DATE

PLACE

1

ITA/2799/AHD/2013

INCOME TAX APPELLATE TRIBUNAL AHMEDABAD

JUDICIAL MEMBER AND ACCOUNTANT MEMBER

22/08/2016

AHMEDABAD

 

Office Details

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

28/04/2017

APPEARANCE NOTE

MR NITIN K MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR NITIN K MEHTA(3286) for P:1

2

28/04/2017

CERTIFIED COPY

MR NITIN K MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

6

MR NITIN K MEHTA(3286), for P:1

3

28/04/2017

MEMO OF PETITION/APPEAL/SUIT

MR NITIN K MEHTA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

20

MR NITIN K MEHTA(3286), for P:1

4

17/01/2018

APPEARANCE NOTE

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MRS MAUNA M BHATT(174) for P:1

5

23/02/2018

VAKALATNAMA

MR B S SOPARKAR ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR B S SOPARKAR(6851) for R:1

 

Applications

 

S. No.

CaseDetail

Status Name

Disposal Date

Action/Coram

1

CIVIL APPLICATION (OJ)/461/2017

DISPOSED

19/02/2018

DISPOSED AT ADMISSION STAGE

HONOURABLE MR.JUSTICE AKIL KURESHI 

HONOURABLE MR.JUSTICE B.N. KARIA

 

Court Proceedings

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

27/02/2018

3

-

ADMISSION ( FRESH MATTERS )

HONOURABLE MR.JUSTICE AKIL KURESHI 

HONOURABLE MR.JUSTICE B.N. KARIA

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

REVIEW OF OPERATIONS AND THE STATE OF THE COMPANY’S AFFAIRS :

 

During the year on Standalone basis, the income from operations has been INR 3623.595 Million as compared to INR 3740.097 Million during the previous Financial Year. The Company has prepared the Financial Statement in Accordance with accounting standard (Ind-AS) notified under section 133 of the Companies Act, 2013. Previous year numbers in the Financial Statements have been restated as per Ind-AS. Income from operation of previous year as per Accounting Standard has been INR 3712.639 Million. During the year Circulation income has slightly decreased from INR 989.303 Million to INR 968.974 Million. Advertisement Revenue increased by INR 223.68 Million during the year from INR 2331.670 Million to INR 2354.038 Million.

 

No material changes and commitments have occurred after the close of the financial year till the date of this Report, which affect the financial position of the Company.

 

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

Industry Structure and Developments

 

Print media is one of the oldest and basic forms of mass communication and the contribution of print media in providing information and transfer of knowledge is remarkable. Even after the advent of electronic media, the print media has not lost its charm or relevance. Print media has the advantage of making a longer impact on the minds of the reader, with more in-depth reporting and analysis.

 

As per the Annual Report 2015-16 published by the Registrar of Newspapers for India, total number of registered publications was 110851 comprising 16136 newspapers (dailies, bi/tri weekly) and 94715 periodicals, as of March 31, 2016. Total number of new registered publications decreased from 5817 in FY14-15 to 5423 in FY15-16. According to FICCI-KPMG Indian Media and Entertainment Industry Report 2017, in 2016, the Indian print industry grew at 7.0 per cent. This growth was driven by regional language newspapers, followed by Hindi and English at 9.4 per cent, 8.3 per cent and 3.7 per cent, respectively. While English newspapers struggled, Hindi and other regional language newspapers continued their growth story. The readership for English newspapers is concentrated largely in Tier I cities with approximately 10 per cent of Indian population speaking English, leaving 90 per cent of the population to be catered by regional dailies.

 

The Company belongs to the Regional Print Media Industry and is a publisher of “SANDESH” a premier Gujarati daily newspaper in Gujarat Region, to carry on the business of editing, printing and publishing newspapers and periodicals. The Company started its first printing facilities at Ahmedabad.

 

Late Shri Chimanbhai S. Patel acquired the entire business from the original promoter in the year 1958 and had put his efforts to strengthen the activities carried out by “SANDESH”. The editorial policy of the Company has always been based on basic journalistic values of objectivity and has not been influenced by any external forces. Presently, Shri Falgunbhai Patel, Chairman and Managing Director is running the entire business affairs of the Company along with Shri Parthiv F. Patel, Managing Director and a professional team of the Executives of the Company.

 

The Company has started its printing facilities at Baroda during 1985-86, at Surat during 1989-90, at Rajkot during 1990-91, at Bhavnagar during 1998-99 and at Bhuj during 2010-11 to cater to the semi urban and rural areas. The Company has now total seven editions, six editions from Gujarat and one edition from Mumbai, Maharashtra. The Company has a strong regional franchise, where it enjoys strong readership loyalty.

 

Besides the Company publishes “Stree”, a magazine and also the periodical “Sandesh Pratyaksha Panchang” which remained popular among the public. A weekly newspaper ‘Agro Sandesh’, specific to the rural community of the State of Gujarat covering the farming, dairy and co-operative sector was successfully launched and which is contributing positively to the development of the farmers of the State of Gujarat and allied agricultural industries.

 

The Company’s News TV channel ‘Sandesh News’ is immensely popular amongst Gujarati Viewers and it has also won several awards. Further, as a part of its out-of-home advertising activity, the Company has advertisements sites at the major commercial areas in Ahmedabad. The Company is also successfully operating its real estate and finance businesses.

 

 

Segment-Wise or Product-Wise Performance

 

a) Media:

This is the core business of the Company since its inception. The Company had been able to maintain its business volumes despite stiff competition in the regional media industry. The revenue from the media segment was INR 3414.847 Million during the Financial Year as against INR 3413.556 Million in previous Financial Year.

 

b) Finance Division:

The Company has been in the Financing business and during the year, the segment revenue from Finance Division was INR 180.993 Million during the Financial Year as against INR 325.284 Million in the previous year.

 

 

COMPANY OVERVIEW

 

The Sandesh Limited (the ‘Company’) is a public limited Company domiciled in India and is incorporated under the provisions of the Companies Act with its registered office located at “Sandesh Bhavan”, Lad Society Road, B/h. Vastrapur Gam, P.O. Bodakdev, Ahmedabad – 380054. The Company is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

 

The Company has presence across media spectrum which includes print, broad casting, digital and outdoor solutions.

 

The Company is operating into Media Industry. It is a publisher of “SANDESH” a premier Gujarati daily newspaper.

 

The financial statements are approved for issue by the Company’s Board of Directors on May 27, 2017.

 

 

UNSECURED LOAN

 

Particulars

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Loans from related parties

 

 

From Directors

19.886

47.769

 

 

 

Total

19.886

47.769

 

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED 31ST DECEMBER, 2017

 

(INR in Million)

 

 

Particulars

31.12.2017

(Quarter Ended)

30.09.2017

(Quarter Ended)

31.12.2017

(Nine Months Ended)

1

 

Income from Operations

 

 

 

 

 

Sales/Income from Operations (Gross)

948.715

918.852

2848.416

 

 

b) Other Operating Income

28.237

41.717

105.103

 

Total Income from Operations (Net)

976.952

960.569

2953.519

2

Expenses              

 

 

 

 

a)

Cost of Materials consumed

304.318

304.792

924.011

 

b)

Purchase of Stock-in-trade

(0.011)

0.100

(0.900)

 

c)

Employee benefit expenses

88.263

90.454

271.683

 

d)

Finance Costs

1.015

1.024

3.069

 

e)

Depreciation and amortization expense

21.921

21.260

62.350

 

f)

Other expenses

283.363

212.501

722.525

 

Total Expenses

698.869

630.032

1983.629

 

 

 

 

 

3

Profit before exceptional items and tax

278.083

330.537

969.890

4

Exceptional items

2.410

0.115

2.456

5

Profit before Tax

280.493

330.653

972.346

6

Tax Expense

103.048

105.390

339.764

7

Net Profit for the period after tax

177.445

225.147

632.582

 

 

 

 

 

8

Total Comprehensive Income

177.445

225.147

632.582

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

23.44

29.74

83.57

 

NOTE :

 

  • The above results were reviewed by the Audit Committee and thereafter approved at the meeting of the Board of Directors held on February 12, 2018. The same has also been subjected to Limited Review by the statutory Auditor.

 

  • During the period, Financial segment to longer meets the criteria as per there is only the reportable segment that finance segment will not meet them criteria as during the current financial year also in view the company has not given urgent information.

 

  • The Board of Directors of the meeting held no February 12, 2018, has declined an Interim of INR 5 per equity share.

 

  • Figure for the previous ponds have been regrouped / arranged whatever considered necessary.

 

 

INDEX OF CHARGES:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G07678154

100040746

HDFC BANK LIMITED

11/05/2016

-

-

250000000.0

HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (WEST)MUMBAIMH400013IN

2

G00685743

10310660

YES BANK LIMITED

17/08/2011

07/10/2015

-

950000000.0

102/103 C.G. Centre,C.G. Road, Panchwati,AHMEDABADGJ380009IN

3

B22596183

80023783

UNION BANK OF INDIA

03/05/2004

18/10/2007

05/10/2011

600000000.0

Industrial Finance BranchC. U. Shah Chambers, Ashram RoadAhmedabadGJ380014IN

4

B22596811

10074358

UNION BANK OF INDIA

19/10/2007

-

05/10/2011

250000000.0

Industrial Finance BranchC. U. Shah Chambers, Ashram RoadAhmedabadGJ380014IN

5

B22597249

80023780

UNION BANK OF INDIA

12/01/1998

31/10/2002

05/10/2011

155000000.0

INDUSTRAIL FINANCE BRANCHASHRMA ROADAHMEDABADGJ380009IN

6

B19611854

80023787

UTI BANK LTD

30/01/2006

-

02/09/2011

125000000.0

TRISHUL , OPP SAMATESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN

 

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2017

31.03.2016

Disputed Income tax matters

0.000

40.596

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and Equipment
  • Electric Fittings
  • Furniture and Fixtures
  • Office Equipment
  • Vehicles

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 65.02

UK Pound

1

INR 91.49

Euro

1

INR 79.79

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

KJL

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

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)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.