|
|
|
MIRA INFORM REPORT
|
Report No. : |
505553 |
|
Report Date : |
24.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TIPS INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
601, Durga Chambers, 6th Floor, Opposite B.P.L, Gallery 278/E, Linking Road, Khar (West), Mumbai - 400052, Maharashtra |
|
Tel. No.: |
91-22-66431188 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
08.05.1996 |
|
|
|
|
Com. Reg. No.: |
11-099359 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 143.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L92120MH1996PLC099359 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5284A |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACT5284A1ZJ |
|
|
|
|
TIN No.: |
27060605001 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is in the Media & Entertainment Industry. The Company is in the business of production and distribution of Cinematographic Films and exploitation of its content on various platforms. (Registered Activity) |
|
|
|
|
No. of Employees
: |
49 (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1996. The Company is engaged in the business of Production and Distribution of film and exploitation of its Audio library. For the quarterly results of December 2017, the company has achieved sales turnover of INR 102.874 million along with average net profit margin. As per the financial of 2017, the company has reported a decline in its revenue as compared to the previous year’s revenue but has managed to maintain a fair net profit margin of 6.40%. The company possesses healthy financial position marked by sound net worth base along with strong debt coverage indicator due to low debt balance sheet profile and moderate liquidity position. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loans = BB |
|
Rating Explanation |
Moderate risk of default |
|
Date |
21.03.2018 |
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
31-03-2018.
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 24.04.2018
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
Management non-cooperative (Tel No.:91-22-66431188)
LOCATIONS
|
Registered Office : |
601, Durga Chambers, 6th Floor, Opposite B.P.L, Gallery 278/E, Linking Road, Khar (West), Mumbai - 400052, Maharashtra, India |
|
Tel. No.: |
91-22-66431188 |
|
Fax No.: |
91-22-66431189 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Accounts Office: |
Virkar Apartments, 17th Road, Khar (West), Mumbai - 400052, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ramesh Sadhuram Taurani |
|
Designation : |
Managing Director |
|
Address : |
12th and 13th Floor, XVI Avenue, 16th Road, Opposite Anand Ashram,
Khar (West), Mumbai -400052, Maharashtra, India |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00010130 |
|
|
|
|
Name : |
Mr. Kumar Sadhuram Taurani |
|
Designation : |
Managing Director |
|
Address : |
901-1001,Vivendi Building, C.T.S. No.-576, Sarojini Road, Santacruz
(West), Mumbai - 400054, Maharashtra, India |
|
Date of Appointment : |
08.05.1996 |
|
DIN No.: |
00555831 |
|
|
|
|
Name : |
Mr. Amitabh Das Mundhra |
|
Designation : |
Director |
|
Address : |
27, Shakespearre Sarani, Kolkata - 700017, West Bengal, India |
|
Date of Appointment : |
11.06.2003 |
|
DIN No.: |
00014227 |
|
|
|
|
Name : |
Ms. Radhika Carlton Pereira |
|
Designation : |
Director |
|
Address : |
72, Buena Vista, J. Bhosale Marg, Nariman Point, Mumbai -400021,
Maharashtra, India |
|
Date of Appointment : |
05.09.2002 |
|
DIN No.: |
00016712 |
|
|
|
|
Name : |
Mr. Venkitaraman Subramanian Iyer |
|
Designation : |
Director |
|
Address : |
902, Vishnu Tower P.K.Road, Mulund (West) Mumbai - 400080,
Maharashtra, India |
|
Date of Appointment : |
25.05.2016 |
|
DIN No.: |
00730501 |
KEY EXECUTIVES
|
Name : |
Mr. Ishwar Tuljaram Gursahani |
|
Designation : |
Chief Finance Officer |
|
Address : |
A 1 Chitralekha, Sane Guruji Nagar, Mulund (East), Mumbai -400081,
Maharashtra, India |
|
Date of Appointment : |
27.06.2014 |
|
PAN No.: |
AAAPG8317Q |
|
|
|
|
Name : |
Bijal Patel |
|
Designation : |
Company Secretary |
|
Address : |
202, Mangal Murti,Gymkhana Road, Behind Himmat Nagar Building,
Borivali (West), Mumbai - 400092, Maharashtra, India |
|
Date of Appointment : |
01.11.2012 |
|
PAN No.: |
AOZPP3972R |
|
|
|
|
SENIOR MANAGEMENT: |
|
MAJOR SHAREHOLDERS
As on March, 2018
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % |
|
|
(A) Promoter & Promoter Group |
10712762 |
74.82 |
|
|
(B) Public |
3605897 |
25.18 |
|
|
Grand Total |
14318659 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % |
|
|
A1) Indian |
|
||
|
Individuals/Hindu undivided Family |
10712762 |
74.82 |
|
|
Kumar S Taurani |
2881915 |
20.13 |
|
|
Ramesh Sadhuram Taurani |
2875911 |
20.09 |
|
|
Varsha R Taurani |
2474718 |
17.28 |
|
|
Renu K Taurani |
2468718 |
17.24 |
|
|
Shyam M Lakhani |
11500 |
0.08 |
|
|
Sub Total A1 |
10712762 |
74.82 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
10712762 |
74.82 |
Statement showing shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957 As a % |
|
|
B1) Institutions |
|
||
|
B2) Central Government/ State
Government(s)/ President of India |
|
||
|
Central Government/ State Government(s)/ President
of India |
7534 |
0.05 |
|
|
Sub Total B2 |
7534 |
0.05 |
|
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200
million |
1561078 |
10.90 |
|
|
Individual share capital in excess of INR
0.200 million |
914411 |
6.39 |
|
|
Amit Ashok Thawani |
191718 |
1.34 |
|
|
Any Other (specify) |
1122874 |
7.84 |
|
|
Trusts |
7500 |
0.05 |
|
|
HUF |
79745 |
0.56 |
|
|
Non-Resident Indian (NRI) |
16268 |
0.11 |
|
|
Clearing Members |
46591 |
0.33 |
|
|
Bodies Corporate |
972770 |
6.79 |
|
|
Inga Advisors Private Limited |
557833 |
3.90 |
|
|
Riddisiddhi Bullions Limited |
175086 |
1.22 |
|
|
Sub Total B3 |
3598363 |
25.13 |
|
|
B=B1+B2+B3 |
3605897 |
25.18 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the Media & Entertainment Industry. The Company is in the business of production and distribution of Cinematographic Films and exploitation of its content on various platforms. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
49 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
SSPA and Associates Chartered Accountants |
|
Address : |
1st Floor, Arjun, Plot No.6 A, V.P. Road, Andheri (West), Mumbai – 400 058, Maharashtra, India |
|
Tel No.: |
91-22-26704376/26703682 |
|
Fax No.: |
91-22-26703916 |
|
Website: |
|
|
Internal auditors: |
|
|
Name : |
Maheshwari and Company Chartered Accountants |
|
Address : |
3rd Floor, Esplanade Building, 3, Amrut Keshav Naik Marg, Fort, Mumbai - 400 001, Maharashtra, India |
|
|
|
|
Secretarial
auditors: |
|
|
Name : |
NL Bhatia and Associates |
|
Address : |
507, Skyline Wealth Space, 5th Floor, C2 Wing, Skyline Oasis Complex, Premier Road, Near Vidyavihar Station, Ghatkopar (West), Mumbai – 400086, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15067682 |
Equity Shares |
INR 10/- each |
INR 150.700 Million |
|
749023 |
Less: Buy Back of Shares |
INR 10/- each |
INR (7.500) Million |
|
|
Total |
|
INR
143.200 Million |
a. Rights/Terms
attached to Equity Shares
Company has only one class of shares referred to as equity shares having par value INR10/- each. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. The Board of Directors in their meeting held on May 30, 2017, proposed dividend of INR1/- per equity share\. In the event of liquidation of the company, the holders of the equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential share amounts. However no such preferential shares amount exist currently. The distribution will be in proportion to the number of equity shares held by shareholders.
b. Reconciliation of
number of shares
|
Particulars |
As at March 31, 2017 |
|
|
|
Number |
Amount in INR |
|
Equity Shares outstanding at the beginning of the year |
15067682 |
150.700 |
|
Equity Shares Issued during the year |
- |
- |
|
Equity Shares bought back during the year |
(749023) |
(7.500) |
|
Equity Shares outstanding at the end of the year |
14318659 |
143.200 |
c. Information on equity
shares alloted without receipt of cash or alloted as bonus shares or shares
bought back
During the Financial Year 2010 - 11, the Company had bought back 1347200 Equity Shares of INR 10/- each from open market at an average price of INR 47.50/-. During the Financial Year 2012 - 13, the Company had bought back 600060 Equity Shares of INR 10/- each from open market at an average price of INR 77.18/-
During the Financial Year 2015 - 16, the Company had bought back 290,958 Equity Shares of INR 10/- each from open market at an average price of INR 62.83/- During the Financial Year 2016 - 17, the Company had bought back 749023 Equity Shares of INR 10/- each from open market at an average price of INR 63.34/-
d. Details of
Shareholders holding more than 5% shares in the company
|
Particulars |
As at March 31, 2017 |
|
|
|
Number |
% holding in the class |
|
Kumar S. Taurani |
2881915 |
20.13 |
|
Ramesh S. Taurani |
2875911 |
20.09 |
|
Varsha R. Taurani |
2474718 |
17.28 |
|
Renu K. Taurani |
2468718 |
17.24 |
FINANCIAL DATA
[all figures are
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 |
143.200 |
150.700 |
153.600 |
|
(b) Reserves & Surplus |
536.800 |
545.700 |
548.900 |
|
(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) |
680.000 |
696.400 |
702.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
491.200 |
646.900 |
897.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2.500 |
3.700 |
1.700 |
|
(d) long-term
provisions |
4.500 |
3.200 |
2.800 |
|
Total Non-current
Liabilities (3) |
498.200 |
653.800 |
901.500 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
20.000 |
5.000 |
|
(b) Trade payables |
14.300 |
82.700 |
8.500 |
|
(c) Other
current liabilities |
161.200 |
266.400 |
166.200 |
|
(d) Short-term
provisions |
0.100 |
18.400 |
18.700 |
|
Total Current
Liabilities (4) |
175.600 |
387.500 |
198.400 |
|
|
|
|
|
|
TOTAL |
1353.800 |
1737.700 |
1802.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
246.000 |
260.300 |
275.900 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.100 |
1.100 |
1.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
115.300 |
88.100 |
79.200 |
|
(e) Other
Non-current assets |
31.600 |
0.700 |
19.000 |
|
Total Non-Current
Assets |
395.000 |
350.200 |
375.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
749.200 |
1045.100 |
0.000 |
|
(b)
Inventories |
58.900 |
135.200 |
978.000 |
|
(c) Trade
receivables |
10.900 |
0.000 |
32.000 |
|
(d) Cash
and cash equivalents |
139.800 |
18.800 |
109.300 |
|
(e)
Short-term loans and advances |
0.000 |
184.700 |
304.500 |
|
(f) Other
current assets |
0.000 |
3.700 |
3.400 |
|
Total
Current Assets |
958.800 |
1387.500 |
1427.200 |
|
|
|
|
|
|
TOTAL |
1353.800 |
1737.700 |
1802.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
470.200 |
684.400 |
1023.500 |
|
|
Other Income |
193.900 |
30.700 |
14.600 |
|
|
TOTAL |
664.100 |
715.100 |
1038.100 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.100 |
0.200 |
|
|
Change on inventories of
finished goods |
0.000 |
0.000 |
0.200 |
|
|
Cost of Production /
Distribution of Expenses |
305.100 |
192.200 |
640.500 |
|
|
Employees benefits
expense |
65.700 |
58.600 |
58.100 |
|
|
Other expenses |
133.000 |
283.900 |
173.000 |
|
|
TOTAL |
503.800 |
534.800 |
872.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
160.300 |
180.300 |
166.100 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
102.400 |
126.100 |
115.500 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
57.900 |
54.200 |
50.600 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.700 |
16.100 |
17.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
43.200 |
38.100 |
33.100 |
|
|
|
|
|
|
|
Less |
TAX |
13.100 |
7.800 |
6.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
30.100 |
30.300 |
27.000 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
242.400 |
232.500 |
230.200 |
|
|
|
|
|
|
|
Additional depreciation
pursuant to enactment of Schedule II of the Companies Act, 2013 |
0.000 |
0.000 |
(4.200) |
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
1.500 |
2.300 |
2.000 |
|
|
Tax on Proposed Dividend |
0.000 |
3.000 |
3.100 |
|
|
Proposed Dividend |
0.000 |
15.100 |
15.400 |
|
|
Difference in Proposed
Dividend of Last Year |
(0.700) |
0.000 |
0.000 |
|
|
Difference in Tax on
Proposed Dividend of Last Year |
(0.200) |
0.000 |
0.000 |
|
|
Total |
0.600 |
20.400 |
20.500 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
271.900 |
242.400 |
232.500 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Film Distribution Revenue |
5.797 |
0.000 |
0.000 |
|
|
Royalty |
85.097 |
105.471 |
75.455 |
|
|
Audio Rights Receipts |
0.000 |
30.000 |
0.000 |
|
|
Misc. Income (Terrestrial
TV Rights Receipts) |
0.000 |
0.000 |
89.400 |
|
|
TOTAL EARNINGS |
90.894 |
135.471 |
164.855 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.09 |
1.98 |
1.76 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
151.200 |
226.700 |
155.400 |
|
Cash generated from operations |
308.600 |
312.100 |
355.900 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
333.300 |
300.400 |
366.400 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
100.830 |
125.610 |
102.870 |
|
Total Expenditure |
49.140 |
46.090 |
53.980 |
|
PBIDT (Excl OI) |
51.690 |
79.520 |
48.890 |
|
Other Income |
3.440 |
6.160 |
4.410 |
|
Operating Profit |
55.130 |
85.680 |
53.300 |
|
Interest |
19.740 |
19.010 |
16.770 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
35.390 |
66.670 |
36.540 |
|
Depreciation |
34.060 |
34.570 |
34.520 |
|
Profit Before Tax |
1.330 |
32.100 |
2.020 |
|
Tax |
0.140 |
6.790 |
0.550 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
1.190 |
25.310 |
1.470 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
1.190 |
25.310 |
1.470 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
0.00 |
0.00 |
11.41 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.00 |
0.00 |
31.98 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
301855.00 |
15512.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.72 |
1.33 |
0.17 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.65 |
0.69 |
0.60 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.60 |
0.73 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.94 |
1.28 |
1.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.26 |
0.56 |
0.28 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.36 |
0.37 |
0.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.57 |
1.43 |
1.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.40 |
4.43 |
2.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.22 |
1.74 |
1.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
4.43 |
4.35 |
3.84 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
5.46 |
3.58 |
7.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
5.12 |
3.23 |
2.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.50 |
0.40 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.49 |
5.93 |
6.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
5.46 |
3.58 |
7.19 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 116 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
153.600 |
150.700 |
143.200 |
|
Reserves & Surplus |
548.900 |
545.700 |
536.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
702.500 |
696.400 |
680.000 |
|
|
|
|
|
|
long-term borrowings |
897.000 |
646.900 |
491.200 |
|
Short term borrowings |
5.000 |
20.000 |
0.000 |
|
Current maturities of
long-term debts |
155.400 |
226.700 |
151.200 |
|
Total
borrowings |
1057.400 |
893.600 |
642.400 |
|
Debt/Equity
ratio |
1.505 |
1.283 |
0.945 |
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 |
1023.500 |
684.400 |
470.200 |
|
|
|
(33.131) |
(31.297) |
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 |
1023.500 |
684.400 |
470.200 |
|
Profit |
27.000 |
30.300 |
30.100 |
|
|
2.64% |
4.43% |
6.40% |
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 |
No |
|
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 |
NATURE OF THE
INDUSTRY:
The Company is in the Media & Entertainment Industry. The Company is in the business of production and distribution of Cinematographic Films and exploitation of its content on various platforms.
BUSINESS OVERVIEW:
Subject is a leading company in the media & entertainment industry (M&E). The Company has steadily evolved from music to Films over the years. Founded in 1975, by Mr. Kumar Taurani and Mr. Ramesh Taurani, TIPS is today amongst the reputed names in the Indian M&E industry, known for their focus on creating wholesome family entertainment based Films. TIPS is also a leading name in Punjabi films having produced some of the biggest hits in recent years. One of the strongest asset TIPS has is in the form of its music collection. The TIPS music library today is one of the largest in terms of number of songs and most diversified in terms of language and genres. TIPS has also been an early-adopter and leader in digitising its music library, and currently, over 25,000 songs are digitised and available on all the leading online music stores, applications and platforms.
PERFORMANCE REVIEW:
During the year 2016-17, TIPS produced and released one Punjabi film “Kaptaan” on May 20, 2016. The _lm is directed by Mandeep Kumar, written by Dheeraj Rattan and stars Gippy Grewal, Monica Gill, Karishma Kotak and others. The music revenue for the year 2016-17 was INE 319.530 million as compared to INR 430.986 million in the previous year. While there has been a drop in music revenues, the Company Firmly believes that it has one of the most sought after collections of music in the industry that are ever-green with an enduring appeal across generations. Moreover, with major of its collections digitised and available easily for streaming and/or downloads on leading digital platforms and market-places like iTunes and Google Play, as well as popular streaming platforms like Saavn and Gaana, music will continue to have growing market in both near and mid-terms.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
From Related Parties |
0.000 |
20.000 |
|
|
|
|
|
Total |
0.000 |
20.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C18800433 |
10517435 |
Bank of Baroda |
26/08/2014 |
- |
- |
250000000.0 |
TARDEO BRANCH, EVEREST, J.D. ROAD TARDEO MUMBAI-400034 MAHARASHTRA INDIA |
|
2 |
B86670205 |
10448905 |
Canara Bank |
23/08/2013 |
13/09/2013 |
- |
750000000.0 |
SPECIALISED PRIME CORPORATE BRANCH - FORTVARMA CHAMBERS, 2ND FLOOR, HOMJI STREET FORT MUMBAI-400001 MAHARASHTRA INDIA |
|
3 |
G62600713 |
10294684 |
ICICI BANK LIMITED |
14/09/2010 |
- |
20/10/2017 |
3500000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURI VADODARA-390015 GUJARAT INDIA |
|
4 |
C29393618 |
80027861 |
Bank of Baroda |
29/03/1997 |
- |
07/10/2014 |
40500000.0 |
HEAD OFFICE , MANDVI BARODA(THROUGH IT'S BR.ATTHARDEO MUMBAI-400034 MAHARASHTRA INDIA |
|
5 |
C29399821 |
80027862 |
Bank of Broda |
29/03/1997 |
- |
07/10/2014 |
57500000.0 |
EVEREST BLDG. TARDEO BRANCHTARDEO RAOD,MUMBAI-400034 MAHARASHTRA INDIA |
|
6 |
C29397429 |
80027864 |
BANK OF BARODA |
08/05/1996 |
05/02/2011 |
07/10/2014 |
130000000.0 |
TARDEO BRANCH, EVEREST BUILDING,TARDEO ROAD,MUMBAI-400034 MAHARASHTRA INDIA |
|
7 |
C28647147 |
10450378 |
Canara Bank |
06/09/2013 |
13/09/2013 |
26/09/2014 |
200000000.0 |
SPECIALISED PRIME CORPORATE BRANCH - FORTVARMA CHAMBERS, 2ND FLOOR, HOMJI STREET FORT MUMBAI-400001 MAHARASHTRA INDIA |
|
8 |
C18640235 |
10432200 |
EXPORT-IMPORT BANK OF INDIA |
11/06/2013 |
- |
04/08/2014 |
250000000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADE MUMBAI-400005 MAHARASHTRA INDIA |
|
9 |
B95355020 |
10379554 |
Bank of Baroda |
24/09/2012 |
- |
23/01/2014 |
40000000.0 |
EVEREST, J.D. ROAD TARDEO MUMBAI-400034 MAHARASHTRA INDIA |
|
10 |
B91002378 |
10407556 |
CENTRAL BANK OF INDIA |
18/02/2013 |
- |
27/11/2013 |
240000000.0 |
CORPORATE FINANCE BRANCH, CHANDERMUKHI,GROUND FLOOR, NARIMAN POINT,MUMBAI-400021 MAHARASHTRA INDIA |
STATEMENT
OF UNAUDITED FINANCIAL RESULT FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
|
PARTICULARS |
Quarter
Months |
9 Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.03.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from
operations |
102.874 |
125.612 |
329.313 |
|
Other Operating Income |
4.407 |
6.160 |
14.006 |
|
Total income from operations (net) |
107.281 |
131.772 |
343.319 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Employee benefits expense |
16.600 |
16.679 |
49.947 |
|
Depreciation and Amortization Expenses |
34.520 |
34.565 |
103.149 |
|
Other Expenses |
37.380 |
29.420 |
99.263 |
|
Finance Costs |
16.765 |
19.007 |
55.515 |
|
Total expenses |
105.265 |
99.671 |
307.874 |
|
Profit/ (Loss) before tax |
2.016 |
32.101 |
35.445 |
|
Tax expenses |
0.548 |
6.790 |
7.473 |
|
Net Profit / (Loss) after tax |
1.468 |
25.311 |
27.972 |
|
Comprehensive Income |
0.674 |
1.200 |
1.207 |
|
Total Comprehensive
Income |
2.142 |
26.510 |
29.178 |
|
Paid up equity share capital (Face Value of INR 10/-each) |
143.187 |
143.187 |
143.187 |
|
Earnings per share (before extraordinary items) of INR 10/- each (not
annualized): |
|
|
|
|
(a) Basic |
0.10 |
1.77 |
1.95 |
|
(b) Diluted |
0.10 |
1.77 |
1.95 |
SEGMENT WISE
REVENUE, RESULT, ASSETS AND LIABILITIES
|
PARTICULARS |
Quarter
Months |
9 Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.03.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Segment Revenue |
|
|
|
|
Audio products sales / income |
102.874 |
115.612 |
286.313 |
|
Film distribution / production income |
- |
10.000 |
43.000 |
|
Net
sales / income from operation |
102.874 |
125.612 |
329.313 |
|
|
|
|
|
|
2. Segment Result |
|
|
|
|
Audio products sales / income |
84.086 |
97.209 |
232.018 |
|
Film distribution / production income |
(33.925) |
(23.616) |
(56.827) |
|
Total |
50.161 |
73.592 |
175.191 |
|
Less
: i) Finance Costs |
16.765 |
19.007 |
55.514 |
|
il) Other un-allocable expenditure Net
of un-allocable revenue |
31.380 |
22.485 |
84.232 |
|
(Total
Profit / (Loss) before tax |
2.016 |
32.101 |
35.445 |
|
|
|
|
|
|
3. Segment Assets |
|
|
|
|
Audio products sales / income |
111.268 |
97.574 |
111.268 |
|
Film distribution / production income |
717.159 |
834.072 |
717.159 |
|
Unallocated corporate assets |
688.721 |
515.980 |
688.721 |
|
Total |
1517.148 |
1447.626 |
1517.148 |
|
4. Segment Liabilities |
|
|
|
|
Audio products sales / income |
5.650 |
5.574 |
5.650 |
|
Film distribution / production income |
15.214 |
2.614 |
15.214 |
|
Unallocated
corporate Liabilities |
804.371 |
749.666 |
804.371 |
|
Total |
825.235 |
757.854 |
825.235 |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Penalty under FEMA Act * |
9.000 |
9.000 |
|
Demand by Sales Tax Department ** |
158.336 |
125.869 |
Notes:
* The Company is hopeful of favorable decisions for the appeal pending before the Hon’able Supreme Court. The Hon’able Supreme Court has granted stay until disposal of petition.
** The management has taken an opinion from the consultant in respect of value added tax demand against the company. The management is con_dent that the case will be decided in favour of the Company based on its own assessment as well as opinion provided by the consultant.
FIXED ASSETS
- Land and Building
- Cinematography
- Machinery
- Plant and Machinery
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer
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 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.