|
|
|
MIRA INFORM REPORT
|
Report No. : |
502294 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
KASTURI AND SONS LIMITED |
|
|
|
|
Formerly Known
As : |
KASTURI AND SONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kasturi Building, 859 and 860, Anna Salai, Chennai – 600002, Tamilnadu |
|
Tel. No.: |
91-44-28576300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.02.1940 |
|
|
|
|
Com. Reg. No.: |
18-001091 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 17.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22110TN1940PLC001091 |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
33AAACK3000H1ZB |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
33970580006 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK3000H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Printing and
Publishing of Newspapers, Journals, Magazines and Periodicals. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 8300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was
incorporated in the year 1940 and it is engaged in printing and publishing of
books and newspapers. As per
financials of March 2017, the company has registered decent revenue from its
operations and has reported good profit margin. Rating
takes into consideration the company’s long established track record of
business operation marked by healthy financial risk profile along with low
solvency indicators and good liquidity position. Rating
also takes into account the strong brand equity and established position of
KSL’s flagship English daily, The Hindu in South India’s newspaper market. Further,
the company has reported a good Earnings Per Share of INR 737.30 against its
face value of INR 100. However,
rating strength is partially offset by uncertainty around the dividend income
from THG, which in turn is linked to THG's operating performance, and the
cash outflow in the form of investments which KSL has to make in its
subsidiaries. Payment
seems to be regular. In view of the aforesaid, the company can be considered good for business dealings at usual trade terms and conditions. NOTE: Scheme of
Amalgamation between “Kasturi and Sons Limited” (Demerged Company) and “THG Publishing
Private Limited” (Resulting Company) has been approved by National Company
Law Tribunal (NCLT) on 29th August 2017. The
scheme provided for the demerger of the publishing business undertaking of
demerged company into the resulting company w.e.f. from 1st April
2016. |
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 |
Fixed Deposits = FA- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
18.01.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 07.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED BY
|
Name : |
Mr. PVS Giridhar Rao |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9866549830 |
|
Date : |
05.04.2018 |
LOCATIONS
|
Registered Office : |
Kasturi Building, 859 and 860, Anna Salai, Chennai – 600002, Tamilnadu, India |
|
Tel. No.: |
91-44-28576300/ 28524445/ 28538155 |
|
Fax No.: |
91-44-28415325 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mahalingam Seturaman |
|
Designation : |
Director |
|
Address : |
6, Subbaraya Iyer Avenue, Abhiramapuram, Chennai-600018, Tamilnadu, India |
|
Date of Birth/Age : |
10.02.1948 |
|
Qualification : |
CA |
|
Date of Appointment : |
20.08.2014 |
|
PAN No.: |
AAEPM7962R |
|
DIN No.: |
00121727 |
|
|
|
|
Name : |
Mr. Murali Narasimhan |
|
Designation : |
Whole-time Director |
|
Address : |
260-A, TTK Road, Alwarpet, Chennai – 600018, Tamilnadu, India |
|
Date of Birth/Age : |
11.08.1946 |
|
Qualification : |
B.com, A.C.A |
|
Date of Appointment : |
01.02.1980 |
|
PAN No.: |
AACPM7823K |
|
DIN No.: |
00141517 |
|
|
|
|
Name : |
Mr. Ram Narasimhan |
|
Designation : |
Whole-time Director |
|
Address : |
43-B, Kasturi Ranga Road Teynampet, Chennai-600019, Tamilnadu, India |
|
Date of Birth/Age : |
04.05.1945 |
|
Qualification : |
M.A. M.S. Journalism |
|
Date of Appointment : |
05.07.1977 |
|
PAN No.: |
AABPR2932D |
|
DIN No.: |
00141557 |
|
|
|
|
Name : |
Mr. Ravi Narasimhan |
|
Designation : |
Whole-time Director |
|
Address : |
43-A, Kasturi Ranga Road Teynampet, Chennai-600018, Tamilnadu, India |
|
Date of Birth/Age : |
01.01.1948 |
|
Qualification : |
M.A. B.L |
|
Date of Appointment : |
23.07.2010 |
|
PAN No.: |
AABPR2916D |
|
DIN No.: |
00141587 |
|
|
|
|
Name : |
Mrs. Nalini Krishnan |
|
Designation : |
Whole-time Director |
|
Address : |
7-A, Parthasarathy Gardens Alwarpet, Chennai-600018, Tamilnadu, India |
|
Date of Birth/Age : |
13.10.1956 |
|
Qualification : |
M.D |
|
Date of Appointment : |
23.03.2016 |
|
PAN No.: |
AACPK6063F |
|
DIN No.: |
00141641 |
|
|
|
|
Name : |
Ms. Malini Parthasarathy |
|
Designation : |
Whole-time Director |
|
Address : |
280, J.J. Road Alwarpet, Chennai-600018, Tamilnadu, India |
|
Date of Birth/Age : |
15.08.1959 |
|
Qualification : |
M.S. Journalism, PhD |
|
Date of Appointment : |
21.06.1991 |
|
PAN No.: |
AAFPM2689A |
|
DIN No.: |
00141685 |
|
|
|
|
Name : |
Mr. Venugopal Kasturi |
|
Designation : |
Whole-time Director |
|
Address : |
43, Kasturi Rangan Road Teynampet, Chennai-600018, Tamilnadu, India |
|
Date of Birth/Age : |
18.08.1957 |
|
Qualification : |
M.A. M.S. Journalism |
|
Date of Appointment : |
05.07.2000 |
|
PAN No.: |
AAAPV6086B |
|
DIN No.: |
00141736 |
|
|
|
|
Name : |
Ms. Lakshmi Srinath |
|
Designation : |
Whole-time Director |
|
Address : |
60, First Main Road R.A. Puram, Chennai-600028, Tamilnadu, India |
|
Date of Birth/Age : |
23.09.1959 |
|
Qualification : |
B.A., C. LIB. Sc |
|
Date of Appointment : |
05.07.2000 |
|
PAN No.: |
AAAPL2756L |
|
DIN No.: |
00141755 |
|
|
|
|
Name : |
Mrs. Akila Vijay Iyengar |
|
Designation : |
Whole-time Director |
|
Address : |
65 Coronation Road Singapore 269464 |
|
Date of Birth/Age : |
20.06.1965 |
|
Qualification : |
B.A |
|
Date of Appointment : |
05.07.2000 |
|
PAN No.: |
AAAPV4451A |
|
DIN No.: |
00141804 |
|
|
|
|
Name : |
Mrs. Vijaya Arun |
|
Designation : |
Whole-time Director |
|
Address : |
New No.189, Old No.122 St.Mary's Road, Chennai-600018, Tamilnadu, India |
|
Date of Birth/Age : |
20.06.1965 |
|
Qualification : |
M. Sc, PG Diploma |
|
Date of Appointment : |
24.02.2007 |
|
PAN No.: |
AAAPA5764B |
|
DIN No.: |
01343692 |
|
|
|
|
Name : |
Mr. Narayan Lakshman |
|
Designation : |
Director |
|
Address : |
No. 30-A, Kasturi Ranga Road, Chennai 600018, Tamilnadu, India |
|
Date of Appointment : |
13.12.2017 |
|
DIN No.: |
03308161 |
|
|
|
|
Name : |
Mr. Rajiv Chellappa Lochan |
|
Designation : |
Director |
|
Address : |
11-1, Panchajanya Plot 10-1, Valliammai aachi road, Kotturpuram Chennai 600085, Tamilnadu, India |
|
Date of Birth/Age : |
23.07.1971 |
|
Qualification : |
B. Tech MS MBA |
|
Date of Appointment : |
13.12.2017 |
|
PAN No.: |
ABUPL9403D |
|
DIN No.: |
05309534 |
|
|
|
|
Name : |
Mr. Rohit Ramesh |
|
Designation : |
Whole-time Director |
|
Address : |
New 15 Old 7 Parthasarathy Gardens Alwarpet, Chennai-600018, Tamilnadu, India |
|
Date of Birth/Age : |
24.12.1986 |
|
Qualification : |
M. Sc Management |
|
Date of Appointment : |
24.06.2017 |
|
PAN No.: |
AJGPR7808G |
|
DIN No.: |
07025579 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Chellappa Lochan |
|
Designation : |
CEO (KMP) |
|
Address : |
11-1, Panchajanya Plot 10-1, Valliammai aachi road, Kotturpuram
Chennai 600085, Tamilnadu, India |
|
Date of Birth/Age : |
23.07.1971 |
|
Qualification : |
B. Tech MS MBA |
|
Date of Appointment : |
01.06.2014 |
|
PAN No.: |
ABUPL9403D |
|
|
|
|
Name : |
Mr. Nambirajan |
|
Designation : |
Company Secretary |
|
Address : |
No.1, SBI Officers Colony Police, Manickam Street, Ayanavram, Chennai 600023, Tamilnadu, India |
|
Date of Birth/Age : |
19.04.1967 |
|
Qualification : |
FCA,AICWAI,ACS |
|
Date of Appointment : |
28.08.2015 |
|
PAN No.: |
AABPN8032C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 26.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
88.82 |
|
Promoters – Individual/ Hindu Undivided Family – Non-resident Indian [NRI] |
8.11 |
|
Promoters – Body Corporate |
3.07 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Printing and
Publishing of Newspapers, Journals, Magazines and Periodicals. [Registered
Activity] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· Central Bank of India ·
ICICI Bank Limited |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
No. 48, Masilamani Road, Balajinagar, Royapettah, Chennai 600014, Tamilnadu, India |
|
PAN No.: |
AAAFB2481J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company : |
· THG Publishing Private Limited [U22300TN2017PTC115593] · KSL Digital Ventures Limited [U74999TN2015PLC101070] · KSL Media Limited |
|
|
|
|
Joint Venture : |
CCI Sourcing Private Limited |
|
|
|
|
Related Party : |
Kasturi Estates Private Limited [U70101TN1948PTC001117] |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
176000 |
Equity Shares |
INR 100/- each |
INR 17.600
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
17.600 |
17.600 |
17.600 |
|
(b) Reserves and Surplus |
2895.928 |
5720.616 |
5546.915 |
|
(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) |
2913.528 |
5738.216 |
5564.515 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
193.310 |
1968.181 |
2533.110 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
242.250 |
143.214 |
|
(c)
Other long-term liabilities |
0.000 |
0.000 |
206.940 |
|
(d)
long-term provisions |
8.242 |
414.774 |
474.981 |
|
Total
Non-current Liabilities (3) |
201.552 |
2625.205 |
3358.245 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short-term borrowings |
0.600 |
50.600 |
422.692 |
|
(b)
Trade payables |
1.226 |
820.518 |
500.492 |
|
(c)
Other current liabilities |
26.659 |
2019.767 |
1742.318 |
|
(d)
Short-term provisions |
0.000 |
29.682 |
21.357 |
|
Total
Current Liabilities (4) |
28.485 |
2920.567 |
2686.859 |
|
|
|
|
|
|
TOTAL |
3143.565 |
11283.988 |
11609.619 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
5735.500 |
6763.093 |
|
(ii)
Intangible Assets |
0.000 |
99.608 |
119.397 |
|
(iii)
Tangible assets capital work-in-progress |
99.657 |
110.100 |
101.725 |
|
(iv) Intangible assets under development |
0.000 |
39.618 |
1.784 |
|
(b) Non-current
Investments |
1645.482 |
32.020 |
10.124 |
|
(c) Deferred tax assets
(net) |
14.830 |
0.000 |
0.000 |
|
(d) Long-term loans and advances |
508.385 |
579.412 |
762.756 |
|
(e)
Other Non-current assets |
537.055 |
705.087 |
335.006 |
|
Total
Non-Current Assets |
2805.409 |
7301.345 |
8093.885 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
1147.243 |
1089.047 |
|
(c)
Trade receivables |
1.705 |
2107.376 |
1885.898 |
|
(d)
Cash and bank balances |
326.244 |
577.790 |
434.789 |
|
(e)
Short-term loans and advances |
1.520 |
6.421 |
83.338 |
|
(f)
Other current assets |
8.687 |
143.813 |
22.662 |
|
Total
Current Assets |
338.156 |
3982.643 |
3515.734 |
|
|
|
|
|
|
TOTAL |
3143.565 |
11283.988 |
11609.619 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
15.402 |
0.000 |
10997.017 |
|
|
Other Income |
220.334 |
15.338 |
252.579 |
|
|
TOTAL |
235.736 |
15.338 |
11249.596 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
2874.555 |
|
|
Employee benefit expense |
0.000 |
0.000 |
4331.715 |
|
|
Other expenses |
30.776 |
30.609 |
2823.106 |
|
|
TOTAL |
30.776 |
30.609 |
10029.376 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
204.960 |
(15.271) |
1220.220 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20.003 |
17.763 |
443.152 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
184.957 |
(33.034) |
777.068 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
85.070 |
93.071 |
980.774 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
99.887 |
(126.105) |
(203.706) |
|
|
|
|
|
|
|
Less |
TAX |
(29.877) |
0.000 |
(91.417) |
|
|
|
|
|
|
|
Less |
DISCONTINUED OPERATIONS |
0.000 |
(775.637) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
129.764 |
649.532 |
(112.289) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA
|
NA
|
106.215 |
|
|
TOTAL EARNINGS |
NA |
NA |
106.215 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
|
2105.969 |
|
|
Components and spare
parts |
|
|
24.364 |
|
|
Capital Goods |
|
|
9.189 |
|
|
TOTAL IMPORTS |
NA |
NA |
2139.522 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
737.29 |
716.50 |
(638.00) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
26.659 |
860.777 |
723.063 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
184.763 |
659.356 |
1666.414 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(40.160) |
1943.214 |
1623.025 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
40.41 |
0.00 |
62.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
9.03 |
0.00 |
5.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
63.55 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
(0.01) |
1.12 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.06 |
0.00 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.08 |
0.51 |
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.08 |
0.50 |
0.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.01 |
0.51 |
0.48 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.03 |
1.04 |
1.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
10.25 |
(0.86) |
2.75 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
842.51 |
0.00 |
(1.02) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.13 |
5.76 |
(0.97) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.45 |
11.32 |
(2.02) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
11.87 |
1.36 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
11.87 |
0.97 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.93 |
0.51 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
12.53 |
163.61 |
209.03 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
11.87 |
1.36 |
1.31 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
17.600 |
17.600 |
17.600 |
|
Reserves & Surplus |
5546.915 |
5720.616 |
2895.928 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5564.515 |
5738.216 |
2913.528 |
|
|
|
|
|
|
Long-term borrowings |
2533.110 |
1968.181 |
193.310 |
|
Short term borrowings |
422.692 |
50.600 |
0.600 |
|
Current Maturities of Long term debt |
723.063 |
860.777 |
26.659 |
|
Total
borrowings |
3678.865 |
2879.558 |
220.569 |
|
Debt/Equity ratio |
0.661 |
0.502 |
0.076 |
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 |
10997.017 |
0.000 |
15.402 |
|
|
|
-100.000 |
0.00 |
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 |
10997.017 |
0.000 |
15.402 |
|
Profit/ (Loss) |
(112.289) |
649.532 |
129.764 |
|
|
-1.02% |
0.00 |
842.51% |
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G43649938 |
100096813 |
ICICI BANK LIMITED |
22/03/2017 |
- |
- |
450000000.0 |
ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
2 |
B62221163 |
10387031 |
ICICI BANK LIMITED |
19/11/2012 |
- |
- |
684250000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
B14789044 |
10291627 |
ICICI BANK LIMITED |
08/06/2011 |
- |
- |
1072000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
4 |
A64083868 |
10162495 |
ICICI BANK LIMITED |
29/05/2009 |
- |
- |
835500000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
5 |
G37590346 |
10553695 |
HDFC BANK LIMITED |
19/01/2015 |
- |
01/03/2017 |
250000000.0 |
HDC BANK HOUSE SEBNAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
6 |
G37365426 |
10518552 |
CENTRAL BANK OF INDIA LIMITED |
27/06/2014 |
- |
23/02/2017 |
200000000.0 |
CORPORATE FINANCE BRANCH803, ANNA SALAICHENNAITN600002IN |
|
7 |
C64758493 |
90307945 |
HDFC BANK LIMITED |
24/09/2002 |
- |
16/09/2015 |
100000000.0 |
MARIAM CENTREIIIRD FLOOR; 751-B; ANNA SALAICHENNAITN600002IN |
|
8 |
C64757925 |
90305507 |
HDFC BANK LIMITED |
14/07/2004 |
- |
15/09/2015 |
300000000.0 |
751 B; ANNA SALAIMARIAM CENTRECHENNAITN600002IN |
|
9 |
C64675333 |
90306064 |
CENTRAL BANK OF INDIA |
28/10/1991 |
- |
10/09/2015 |
1000000.0 |
MOUNT ROADMADRASTN600002IN |
|
10 |
C63640577 |
90307935 |
ICICI BANKING CORPORATION LIMITED |
24/07/2002 |
- |
02/09/2015 |
70000000.0 |
110; UTHAMAR GANDHI SALAINUNGAMBAKKAM BRANCHCHENNAITN600034IN |
|
11 |
C63639801 |
90307879 |
ICICI BANK LIMITED |
14/06/2001 |
- |
02/09/2015 |
100000000.0 |
110; NUNGAMBAKKAM HIGH ROADCHENNAITN600034IN |
|
12 |
C63873160 |
90305340 |
ICICI BANK LIMITED |
17/05/2001 |
- |
02/09/2015 |
200000000.0 |
ICICI TOWERSBANDRA KURLA COMPLEX; BANDRA (E)MUMBAITN400051IN |
|
13 |
C64340433 |
90307923 |
CENTRAL BANK OF INDIA |
23/04/2002 |
- |
29/08/2015 |
70000000.0 |
CORPORATE FINANCE BRANCHADDISON BUILDINGS; 803; ANNA SALAICHENNAITN600002IN |
|
14 |
A92975770 |
90308094 |
CENTRAL BANK OF INDIA |
31/01/2005 |
- |
23/08/2010 |
75000000.0 |
CORPORATE FINANCE BRANCHADDISON BUILDING; 803; ANNA SALAICHENNAITN600002IN |
|
15 |
A15516362 |
90305490 |
ICICI BANK LIMITED |
26/03/2004 |
- |
15/05/2007 |
200000000.0 |
LANDMARKRACE COURSE CIRCLEVADODARATN390007IN |
|
16 |
A07606817 |
90307940 |
ICICI BANK LIMITED |
31/08/2002 |
- |
08/12/2006 |
3478183.0 |
NO.1; CENOTAPH ROADTEYNAMPETCHENNAITN600018IN |
|
17 |
A07606650 |
90307953 |
ICICI BANK LIMITED |
28/11/2002 |
- |
24/11/2006 |
3583768.0 |
NO.1; CENOTAPH ROADTEYNAMPETCHENNAITN600018IN |
|
18 |
A17018003 |
90307992 |
HDFC BANK LIMITED |
01/09/2003 |
03/11/2004 |
12/06/2007 |
100000000.0 |
751-B; ANNA SALAIMARIAM CENTRECHENNAITN600002IN |
|
19 |
C14515589 |
90307976 |
HDFC BANK LIMITED |
07/05/2003 |
04/06/2014 |
- |
550000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
20 |
B56825763 |
80045237 |
ICICI BANK LIMITED |
28/10/2002 |
05/07/2012 |
- |
1050000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
21 |
B61834412 |
10075623 |
HDFC BANK LIMITED |
29/10/2007 |
05/08/2008 |
05/11/2012 |
300000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
22 |
C45297082 |
10093486 |
CENTRAL BANK OF INDIA LIMITED |
29/02/2008 |
08/06/2011 |
13/02/2015 |
550000000.0 |
ADDISON BUILDINGS803, ANNA SALAICHENNAITN600002IN |
|
23 |
B38438495 |
90288569 |
CENTRAL BANK OF INDIA LIMITED |
18/11/2005 |
08/06/2011 |
30/04/2012 |
1100000000.0 |
ADDISON BUILDINGS803, ANNA SALAICHENNAITN600002IN |
|
24 |
B23299449 |
90288714 |
CENTRAL BANK OF INDIA LIMITED |
10/01/2006 |
08/06/2011 |
01/10/2011 |
500000000.0 |
ADDISON BUILDINGS803, ANNA SALAICHENNAITN600002IN |
|
25 |
B88675491 |
90307767 |
CENTRAL BANK OF INDIA LIMITED |
17/03/1999 |
08/10/2013 |
- |
430000000.0 |
ADDISON BUILDINGS803, ANNA SALAICHENNAITN600002IN |
|
26 |
G41999855 |
10371073 |
HDFC BANK LIMITED |
26/06/2012 |
19/11/2012 |
21/04/2017 |
500000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
27 |
B16391278 |
90305486 |
ICICI BANK LIMITED |
01/03/2004 |
20/06/2007 |
23/06/2011 |
920000000.0 |
ICICI BANK TOWERNO.93, SANTHOME HIGH ROADCHENNAITN600028IN |
|
28 |
A55437693 |
90288361 |
HDFC BANK LIMITED |
06/09/2005 |
20/06/2007 |
20/01/2009 |
80000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
29 |
A55437560 |
90308056 |
HDFC BANK LIMITED |
14/07/2004 |
20/06/2007 |
20/01/2009 |
300000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
30 |
C78427937 |
10219044 |
ICICI BANK LIMITED |
15/03/2010 |
21/08/2010 |
04/02/2016 |
150000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from others |
193.310 |
170.893 |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from others |
0.600 |
0.600 |
|
|
|
|
|
Total |
193.910 |
171.493 |
SCHEME OF ARRANGEMENT
(DEMERGER)
During the year the Scheme of Arrangement (Demerger) (“the Scheme”) between Kasturi & Sons Limited (“Demerged Company”) and THG Publishing Private Limited (“Resulting Company”) as been approved by National Company Law Tribunal (NCLT) Chennai Bench by order date 29th August 2017.The Scheme provided for the demerger of the Publishing Business Undertaking of Demerged Company into the Resulting Company, on a going concern basis, with effect from the appointed date of 1st April 2016. The Scheme of Arrangement would become effective from the Appointed Date i.e. 1st April 2016 but shall be operative from the Effective Date i.e. 6th September 2017 being the date of filing of a certified copy of the Order of NCLT by the Company and the Resulting Company with the Registrar of Companies, Tamil Nadu, Chennai. As per the Scheme the Demerged company shall carry out business and the activities relating to Publishing Business Undertaking for and on account of and in trust for the Resulting Company.
This Company, interalia, was engaged in the business of printing and publishing of newspapers, journals, magazines and periodicals, including the operations relating to News Portal and Event management (“Publishing Business Undertaking”).
The Scheme provided for the demerger of the Publishing Business Undertaking of this Company into the Resulting Company, on a going concern basis, with effect from the appointed date of 1st April 2016.
The salient features of the Demerger are as under:
a) The whole of the undertaking and assets and properties of the Publishing Business Undertaking of this Company, shall stand transferred to and vested in the Resulting Company with all the rights, title and interest pertaining to the Publishing Business Undertaking.
b) The Scheme of Arrangement would become effective from the Appointed Date i.e. 1” April 2016 but shall be operative from the Effective Date i.e. 6 September 2017 being the date of filing of a certified copy of the Order of NCLT by the Company and the Resulting Company with the Registrar of Companies, Tamil Nadu, Chennai.
c) The Resulting Company shall issue and allot1 (One) fully paid up Equity Share of INR 100 each to the shareholders of the Demerged Company for every 1 (One) fully paid up equity share of INR 100 (Rupees One Hundred Only) each held in the Demerged Company.
d) All legal proceedings by or against the Company relating to Publishing Business Undertaking were transferred to the Resulting Company.
e) All staff and employees of the Company pertaining to Publishing Business Undertaking in service on the Effective Date shall be deemed to have become staff and employees of the Resulting Company and the terms and conditions of their employment with the Resulting Company shall not be less favourable than those applicable to them with reference to their employment in the Company.
f) All the contracts, deeds, bonds, agreements, arrangements, assurances and other instruments of whatsoever nature of Publishing Business Undertaking of the Company was transferred to the Resulting Company.
g) All debts, liabilities, duties and obligations relating to Publishing Business Undertaking of the Company were transferred to the Resulting Company.
h) Pursuant to the Scheme, Net Assets of INR 2679.067 Million (previous GAAP INR 2905.356 Million) have been transferred to the Resulting Company on 1” April 2016
FINANCE
Cash and cash equivalents as at March 31, 2017 was INR 210.989 Million. The company continues to focus on judicious management of its working capital, receivables, inventories and other working capital parameters were kept under strict check through continuous monitoring. As always, the Company honours its obligations to the financial institutions, banks and depositors by promptly adhering to the repayment schedules, thus continuing its unblemished record in financial dealings.
FIXED ASSETS:
·
Plant and equipment
·
Land
·
Buildings
·
Other building
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.99 |
|
UK Pound |
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BVA |
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.