|
|
|
MIRA
INFORM REPORT
|
Report No. : |
492003 |
|
Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ABP NEWS NETWORK PRIVATE LIMITED (w.e.f. 16.01.2015) |
|
|
|
|
Formerly Known
As : |
MEDIA CONTENT AND COMMUNICATIONS SERVICES (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, 3rd Floor, Boston House, Suren Road, Western Express
Highway, Andheri (East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-66160200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
30.05.2002 |
|
|
|
|
Com. Reg. No.: |
11-136072 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1712.172 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92132MH2002PTC136072 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM18640G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM0507A |
|
|
|
|
GSTIN No.: |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Business of Content Production and Broadcasting Three News Channels through the Television and Digital Media Which Includes Internet, Mobile and Direct-To-Home. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
ABP News Netwrok Private Limited (ANNPL) incorporated in
the year 2002 as media content and communications services (India) private
limited (MCCS) and was a part of star group. It was a content provider to
star news broadcasting limited (SNBL). ABP acquired 74% stakes in mccs through its fully owned subsidiary, ABP tv private limited which marked ABP group’s foray into electronic media space through star news channel. pursuant to a scheme of amalgamation, atpl was merged with annpl with effect from (wef) April 01, 2015 presently, ANNPL is a wholly-owned subsidiary of ABP. Management has failed to file its financials with registrar of companies for the FY 2017. As per the available financial records of 2016, the revenue of the company has increased by 7.95% along with fair profit margin of 14.98%. The moderate financial profile of the company is reflected by negative networth along with comfortable debt coverage indicators. Rating is constrained on account of absence of latest financials of the company. However, rating weakness is partially offset by experienced promoters of ABP along with established track record, strong and diversified portfolio of newspapers and magazines, established presence of the group in electronic media platform, satisfactory operational and financial risk profile of the company. Payments seems to be slow. In view of aforesaid, the company can be considered for business dealings with some caution. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 = A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
30.11.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 13.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-66160200/ 44010300)
LOCATIONS
|
Registered Office : |
301, 3rd Floor, Boston House, Suren Road, Western Express
Highway, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66160200 |
|
Fax No.: |
91-22-66160243 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office 1: |
A-37, Sector-60, Noida - 201307, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4070000/ 200 |
|
Fax No.: |
91-120-40702133/ 4070211 |
|
|
|
|
Branch Office 2: |
3, Jamir Lane, 3rd Floor - Gariahat Mall, Kolkata – 700019, West
Bengal, India |
|
Tel. No.: |
91-33-44010300 |
DIRECTORS
AS ON 31.03.2016
|
Name : |
Mr. Avijit Deb |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
1, Rajendra Deb Road, Po - Burabazar, Kolkata-700007, West Bengal, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.09.1947 |
||||||||||||||||||||||||||||||||
|
Qualification : |
LLB |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.09.2005 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00047233 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Dipankar Das Purkayastha |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Flat-2A, 23-B, Ballygunge Circular Road, Kolkata - 700019, West Bengal, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.09.1947 |
||||||||||||||||||||||||||||||||
|
Qualification : |
BSc (Hons), AICWA |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.11.2015 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00194147 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Arup Kumar Sarkar |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
20, Madan Mohan Tola Street, Kolkata - 700005, West Bengal, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.08.1946 |
||||||||||||||||||||||||||||||||
|
Qualification : |
M.Com, LLB |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.09.2003 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00200053 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Aveek Kumar Sarkar |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
12/4 Ballygunge Park Road, Kolkata - 700019, West Bengal, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.06.1945 |
||||||||||||||||||||||||||||||||
|
Qualification : |
M.A. Editorial Training with Sunday Times |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.09.2003 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00224290 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Atideb Sarkar |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
20, Madan Mohan Tola Street, Kolkata - 700005, West Bengal, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.06.2017 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
05278404 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Pushan Chakravarty |
|
Designation : |
Manager |
|
Address : |
11, Prince Baktiarshah Road, Kolkata-700033, West Bengal, India |
|
Date of Appointment : |
20.01.2017 |
|
PAN No.: |
AFNPC5896G |
|
|
|
|
Name : |
Mr. Debdatta Saila |
|
Designation : |
Company Secretary |
|
Address : |
56/A, Bangur Avenue, Block-C, Kolkata-700055, West Bengal, India |
|
Date of Birth/Age : |
15.11.1940 |
|
Date of Appointment : |
01.04.2017 |
|
Voter ID No.: |
WB / 20 / 139 / 348150 |
|
PAN No.: |
AIVPS9090B |
|
|
|
|
Name : |
Mr. Upendar Kumar Sharma and Associates |
|
Designation : |
Company Secretary |
|
Address : |
219/E, M.B. Extension, Khazoor Road, Badarpur, New Delhi – 110044, India |
|
Mob. No.: |
91-9871699787/ 9718646969 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2016
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
ABP Private Limited, India |
|
5009990 |
|
Siddhartha Ghosh |
|
10 |
|
Ananda Publishers Private Limited, India |
|
10 |
|
|
|
|
|
Total |
|
5010010 |
|
Names of Shareholders (Preference Share) |
|
No. of Shares |
|
ABP Private Limited, India |
|
16620720 |
|
|
|
|
|
Total |
|
16620720 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.08.2016
|
Category |
Percentage |
|
Promoters - Body
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Business of Content Production and Broadcasting Three News Channels through the Television and Digital Media Which Includes Internet, Mobile and Direct-To-Home. (Registered Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India
7, Shakespeare Sarani, Kolkata-700071, West Bengal, India
Nariman Point, Mumbai-400021, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Bengal Intelligent Park Building, Alpha,1st Floor, Block- EP and GP, Sector - V Salt lake Electronics Complex, Kolkata-700091, West Bengal, India |
|
Tel No.: |
91-33-66121000 |
|
Fax No.: |
91-33-66121001 |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFD5357J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
U92113WB2000PTC092157 |
|
|
|
|
Ultimate Holding
company : |
U22219WB1922PTC004503 |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
667000000 |
Equity Shares |
INR 10/- each |
INR 6670.000 Million |
|
16700000 |
Preference share |
INR 100/- each |
INR 1670.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 8340.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5010010 |
Equity Shares |
INR 10/- each |
INR 50.100 Million |
|
16620720 |
Preference share |
INR 100/- each |
INR 1662.072 Million |
|
|
|
|
|
|
|
Total |
|
INR 1712.172 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1712.172 |
2914.000 |
2914.000 |
|
(b) Reserves and Surplus |
(2823.360) |
(2132.434) |
(2638.390) |
|
(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) |
(1111.188) |
781.566 |
275.610 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
312.500 |
240.000 |
330.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
39.534 |
31.170 |
55.618 |
|
Total Non-current
Liabilities (3) |
352.034 |
271.170 |
385.618 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1901.136 |
0.000 |
0.000 |
|
(b) Trade
payables |
800.488 |
659.932 |
462.255 |
|
(c) Other
current liabilities |
1018.729 |
321.325 |
333.694 |
|
(d) Short-term
provisions |
19.603 |
9.351 |
18.457 |
|
Total Current
Liabilities (4) |
3739.956 |
990.608 |
814.406 |
|
|
|
|
|
|
TOTAL |
2980.802 |
2043.344 |
1475.634 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
497.551 |
309.112 |
414.371 |
|
(ii)
Intangible Assets |
52.761 |
32.242 |
18.578 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
38.215 |
18.243 |
|
(iv)
Intangible assets under development |
0.000 |
18.201 |
2.523 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
512.710 |
254.556 |
132.033 |
|
(e) Other
Non-current assets |
0.064 |
0.059 |
0.054 |
|
Total Non-Current
Assets |
1063.086 |
652.385 |
585.802 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.284 |
0.305 |
0.308 |
|
(c) Trade
receivables |
977.844 |
792.540 |
708.670 |
|
(d) Cash and
bank balances |
549.982 |
433.649 |
93.765 |
|
(e)
Short-term loans and advances |
376.678 |
137.690 |
85.774 |
|
(f) Other
current assets |
12.928 |
26.775 |
1.315 |
|
Total
Current Assets |
1917.716 |
1390.959 |
889.832 |
|
|
|
|
|
|
TOTAL |
2980.802 |
2043.344 |
1475.634 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
4040.561 |
3743.150 |
2645.809 |
|
|
Other Income |
81.317 |
54.541 |
38.569 |
|
|
TOTAL |
4121.878 |
3797.691 |
2684.378 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
Employee benefit expense |
1189.670 |
1107.262 |
862.503 |
|
|
CSR expenditure |
1.800 |
0.000 |
0.000 |
|
|
Other expenses |
2160.198 |
1997.477 |
1669.389 |
|
|
TOTAL |
3351.668 |
3104.739 |
2531.892 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
770.210 |
692.952 |
152.486 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
37.662 |
45.931 |
50.838 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
732.548 |
647.021 |
101.648 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
127.370 |
122.355 |
99.581 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
605.178 |
524.666 |
2.067 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
605.178 |
524.666 |
2.067 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(2132.434) |
(2638.390) |
(2640.457) |
|
|
|
|
|
|
|
Add |
Acquired pursuant to the scheme of Amalgamation |
(1852.395) |
(18.710) |
0.000 |
|
|
|
|
|
|
|
|
Capital
Reserve |
|
|
|
|
Add |
Pursuant to the Scheme of Amalgamation |
(556.028) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
General Reserve |
|
|
|
|
Add |
Adjustment pursuant to the Scheme of Amalgamation |
(0.263) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
(2823.360) |
(2132.434) |
(2638.390) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
159.037 |
111.741 |
20.302 |
|
|
TOTAL EARNINGS |
159.037 |
111.741 |
20.302 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
108.772 |
35.618 |
NA |
|
|
TOTAL IMPORTS |
108.772 |
35.618 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
120.79 |
1.80 |
0.01 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
127.500 |
90.000 |
57.500 |
|
Net cash flows from (used in) operations |
661.070 |
633.928 |
109.019 |
|
Net cash flows from (used in) operating activities |
427.584 |
510.666 |
116.976 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
88.33 |
77.28 |
97.76 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.13 |
4.72 |
3.73 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases * 365] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income / Inventories] |
|
2712.01 |
2271.97 |
495.08 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed Assets] |
|
1.40 |
1.74 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing +
Current Liabilities) / Total Assets] |
|
1.36 |
0.60 |
0.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
(1.99) |
0.31 |
1.20 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / NetWorth) |
|
(3.37) |
1.27 |
2.95 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth) |
|
(0.50) |
0.51 |
1.65 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
|
20.45 |
15.09 |
3.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
14.98 |
14.02 |
0.08 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets) * 100] |
(%) |
20.30 |
25.68 |
0.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
(%) |
-54.46 |
67.13 |
0.75 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets
/ Current Liabilities] |
|
0.51 |
1.40 |
1.09 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) / Current
Liabilities] |
|
0.51 |
1.40 |
1.09 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total Assets] |
|
(0.37) |
0.38 |
0.19 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
1.29 |
0.08 |
0.11 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets / Total Current
Liabilities] |
|
0.51 |
1.40 |
1.09 |
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
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
2914.000 |
2914.000 |
1712.172 |
|
Reserves & Surplus |
(2638.390) |
(2132.434) |
(2823.360) |
|
Net
worth |
275.610 |
781.566 |
(1111.188) |
|
|
|
|
|
|
Long-term borrowings |
330.000 |
240.000 |
312.500 |
|
Short term borrowings |
0.000 |
0.000 |
1901.136 |
|
Current maturities of
long-term debts |
57.500 |
90.000 |
127.500 |
|
Total
borrowings |
387.500 |
330.000 |
2341.136 |
|
Debt/Equity
ratio |
1.406 |
0.422 |
(2.107) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2645.809 |
3743.150 |
4040.561 |
|
|
|
41.475 |
7.945 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2645.809 |
3743.150 |
4040.561 |
|
Profit/ (Loss) |
2.067 |
524.666 |
605.178 |
|
|
0.08
% |
14.02
% |
14.98
% |
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 |
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 |
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 |
No |
|
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 |
BUSINESS OVERVIEW:
Previous year figures are not comparable, since current year figures include the effect of merger of erstwhile (i) Goldvision Entertainment Private Limited (ii) Satellite Holdings Private Limited and (iii) ABP TV Private Limited into the Company with effect from April 1, 2015.
The revenue from operations of the Company for the year ended March 31, 2016 is INR 4040.561 million, an increase of 8% as compared to last year of INR 3743.150 million. It must be noted that the last year revenue base was high due to National and State elections. Strong performance from advertisement business supported a stable event calendar, new media and international business performance led to higher revenues and a decent growth (over the increased base of last year) and an operational profit before tax of INR 605.178 million.
The financial year 2015-16 had been a very successful and important year for the Company. The Company’s advertisement business delivered record earnings. The Company was able to capitalize on the market conditions through its operational excellence, higher efficiency and well executed strategies around advertisement, event and international sales. ABP News Network (ANN) was able to maintain a most reliable and trustworthy image in the News broadcasting business. Our performance, in the state elections was significantly better than other major news channels. They are hoping to maintain the same next year as well.
PERFORMANCE OF
BUSINESS VERTICALS
ABP NEWS
ABP News had been able to maintain a 12% Market Share among Hindi News Channels. Even though it ranked at No. 3 had given tough competition to No. 1 and No. 2 since it was the most preferred channel during important Hard News days like Elections, Budgets, PM Speech in US etc. and during these instances ABP News shot to No. 1 or No. 2 in viewership.
ABP News revenue from operations of the Channel for the year ended March 31, 2016 increased by 9% to INR 2600.159 million as compared to the previous year of INR 2386.091 million. The increase in revenue was due to good economic conditions in market and cricket properties.
ABP ANANDA
ABP Ananda maintained its leadership position way ahead than its competition with a Market Share of 41% among Bengali News Channels. ABP Ananda revenue from operations of the channel for the year ended March 31, 2016 increased by 16% to INR 771.992 million as compared to the previous year of INR 667.267 million. The lead in viewership increased substantially during the year.
ABP MAJHA
ABP Majha had also been able to maintain its leadership among Marathi News with a Market Share of 36%. ABP Majha revenue from operations of the channel for the year ended March 31, 2016 decreased by 15% to INR 448.407 million as compared to the previous year of INR 525.985 million. The de-growth in Majha is due to absence of any major activities in the region of Maharashtra. And also due to a increase base of revenue last year due to Maharashtra elections.
ABP ASMITA
In financial year 2015-16 the Company had launched a new Gujarati News Channel named ABP Asmita in the month of January 2016. The Channel will contribute a further growth in revenue in the next year while there is no significant revenue generated by the channel in current financial year.
DIGITAL MEDIA
Digital media revenue from operations of the websites and web applications for the year ended March 31, 2016 increased by 51% to INR 123.563 million as compared to previous year of INR 81.660 million. Other Revenue Streams - International Vertical and Domestic Subscription In 2015-16 the revenue from International markets grew by 13% to INR 44.189 million as compared to previous year of INR 38.942 million. The figures include both Advertisement revenue and Subscription revenue from international markets. Domestic subscription revenue from ABP Ananda and ABP Majha was up by 21% to INR 52.143 million as compared to previous year of INR 43.206 million.
AWARDS AND
RECOGNITIONS
ABP News Network has been felicitated with 5 exchange4media News Broadcasting Awards in which notable were: Best Editor to Milind Khandekar Best Talk Show for Press Conference. Best Anchor to Dibang for Press Conference.
AMALGAMATION
On September 16, 2015, the Board approved the proposal to amalgamate the Company along with (i) Goldvision Entertainment Private Limited (''GEPL''), (ii) Satellite Holdings Private Limited ("SHPL'') and (iii) ABP TV Private Limited (''ABP TV'') with this Company (as a going concern) under Sections 391 and 394 of the Companies Act, 1956. This was done to consolidate the group structure and provide for overall business efficiency by combining their managerial and marketing strength, to streamline administration, to build a wider capital and financial base and to promote and secure overall interest and growth and economics of all companies concerned; reduction in overheads and other expenses, reduction in administrative and procedural work and better and more efficient utilization of resources to enable the business of the amalgamated entity to be run, controlled and managed more economically, conveniently and effectively; to strengthen, consolidate and stabilize the business of the companies and the resulting amalgamated company will be able to participate more vigorously in a competitive market to increase profitability; and to create two principal companies in the group, one in the print media and the other in the electronic media.
This was subsequently sanctioned by the Hon’ble High Courts at Calcutta and Bombay on March 21 2016 and May 5, 2016, respectively. All the assets and liabilities of (i) Goldvision Entertainment Private Limited (GEPL), (ii) Satellite Holdings Private Limited (SHPL) and (iii) ABP TV Private Limited (ABPTV) were transferred to the Company with effect from April 1, 2015. The Scheme became effective on June 16, 2016 upon filing of the Order of the Hon’ble High Court with the respective Registrars of Companies. Consequent to such filing, the Scheme has been given effect to in these Financial Statements.
The Amalgamation has been accounted for under the ‘pooling of interests’ method as prescribed by "Accounting Standards-14 - Accounting for Amalgamations" specified under Section 133 of the Companies Act, 2013, as applicable. Accordingly, the assets, liabilities and reserves of GEPL, SHPL and ABP TV as at April 1, 2015 have been transferred at their respective book values As per the Scheme of Amalgamation, 6,58,42,100 Equity Shares of INR 10/- each held by SHPL in GEPL and 65,04,020 Equity Shares of INR 100/- each held by ABP TV in SHPL stand cancelled against the investment held between the Companies inter se, as per the Scheme of Amalgamation. Further, 291,400,000 Equity Shares of INR 10/- each of the Company held by ABP Private Limited stand cancelled during the year against ABP TV’s investment in the Company. As a consideration for the amalgamation, the Company will issue the shares to shareholders of ABP TV Private Limited as per the scheme: Equity Share Capital – 5,0,10,010 (Previous year - Nil) shares at INR 10 each, fully paid, to be issued pursuant to Scheme of Amalgamation amounting to INR 50.100 million Preference Share Capital – 1,66,20,720 (Previous year - Nil) 6% Cumulative Preference Share of INR 100 each, fully paid, to be issued pursuant to Scheme of Amalgamation amounting to INR 1662.072 million.
FUTURE OUTLOOK
2016-17 is expected to be tough year for the news industry, since there are no major national political and election activities apart from Uttar Pradesh and West Bengal state elections. However, it was expected that a more stable government would certainly lead to better market sentiments and an improvement in overall spend levels of advertisers. In the immediate future the growth is expected to come from national channel as well as the regional channels. Moreover, Digital business is also expected to grow leaps and bounds. In 2016-17 they are targeting a minimum growth of 10% from our existing revenue operations, while continuing to invest in good quality content to improve our leadership position in ratings. The new revenue opportunities will be focused upon ground events and special client projects. Further, they also propose to partner with various corporate for Corporate Social Responsibility endeavors which are seen as a huge revenue generating activity in coming years. They will focus more on such innovative activities which can ring-fence the mainstream Ad Revenue. The next few years will witness increase in investment in Digital properties. Though they have grown the revenue from INR 12.668 million in 2012-13 to more than INR 123.563 million in 2015-16, they still enjoy the advantage of a low base operator and have headroom to increase it substantially. Advertiser driven activation programs can be built along with consolidating and ramping up the Flagship events. The Company in this sphere has to emerge as a solution provider to clients rather than treating them only as sponsors or advertisers. Further investment in the international vertical for tapping both the advertisement and subscription market of the Indian Diaspora settled abroad will help the Company to diversify its revenue streams further. Increased promotion in small towns and rural markets and content suited for target audiences are keys to improve performance of the Company in the recent future.
CORPORATE INFORMATION
Subject the Company was incorporated in India on 30 May, 2002 and set up its business on 1 March, 2003. The Company is in the business of content production and broadcasting four news channels through the television and digital media which includes internet, mobile and Direct-to-Home.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures others |
200.000 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
1822.600 |
0.000 |
|
Total |
2022.600 |
0.000 |
INDEX OF CAHREGS:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date Of Creation |
Date Of Modification |
Date Of Satisfaction |
Amount |
Address |
|
1 |
B92074582 |
10476595 |
HDFC BANK LIMITED |
15/10/2013 |
- |
- |
600000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
2 |
C02350601 |
10120947 |
Axis Bank Limited |
01/09/2008 |
- |
04/04/2014 |
150000000.0 |
7, Shakespeare, Sarani, Kolkata-700071, West Bengal, India |
|
3 |
B97465660 |
10022716 |
AXIS BANK LIMITED |
08/09/2006 |
26/11/2012 |
21/02/2014 |
580000000.0 |
Corporate Banking Branch, 1, Shakespeare, Sarani, Ac Market, 3rd Floor, Kolkata—700071, West Bengal, India |
|
4 |
A07268279 |
80016340 |
ING VYSYA BANK LIMITED |
06/09/2004 |
- |
28/11/2006 |
688000000.0 |
Nariman Point, Mumbai-400021, Maharashtra, India |
FIXED ASSETS:
·
Plant and Equipment
·
Other plant and Equipment
·
Furniture and Fixtures
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
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 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
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.