|
|
|
MIRA INFORM REPORT
|
Report No. : |
492024 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
9X MEDIA PRIVATE LIMITED (w.e.f. 13.07.2010) |
|
|
|
|
Formerly Known
As : |
INX MEDIA PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Urmi Corporate Park, 5th Floor, Solaris D, Opposite L and T
Gate No.6, Saki Vihar Road, Powai, Mumbai – 400072, Maharashtra |
|
Tel. No.: |
91-22-66019999 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of Incorporation
: |
08.08.2006 |
|
|
|
|
Com. Reg. No.: |
11-163657 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 813.816 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH2006PTC163657 |
|
|
|
|
IEC No.: |
0307018954 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI07321G |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI5594D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of television broadcasting and operates in music channels. (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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2006. It is a subsidiary of
Rivendell PELLC, Mauritius. The company is engaged in the business of telecasting television
channels and providing broadcasting services. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. For the financial year ended 2016, the company has achieved 18.07%
growth in its revenue as compared to the previous year and has earned low
profitability margin of 0.50%. The overall financial position of the company seems to be average
marked by negative reserve base, comfortable debt level and moderate
liquidity position. Rating takes into consideration the strength that the company derives
from its holding company, its well-recognized brand name of 9X Group in
telecasting channels industry and it’s well experienced management team. The Music Channels operated by 9X Media include 9XM, 9X Jhakaas, 9X
Jalwa, 9XTashan and 9XO. It has reached out to over 270 Million viewers on
television and 20 Million on digital platform. Business is active. Payments seems to be sow but 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.
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 14.02.2018
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-COOPERATIVE: Tel. No.: 91-22-66019999
LOCATIONS
|
Registered Office : |
Urmi Corporate Park, 5th Floor, Solaris D, Opposite L and T
Gate No.6, Saki Vihar Road, Powai, Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-66019999 |
|
Fax No.: |
91-22-66019898 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
206, 1st Floor, Okhla Industrial Estate, Phase - III, New
Delhi – 110020, India |
|
Tel. No.: |
91-11-66019999 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Pradeep Guha |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
701, Krishna Heights, 12th Road, Khar (West), Mumbai –
400052, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.06.1952 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
BA, AAMP |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AADPG1610M |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00180427 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Arvind Malhan |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
G-010, Purvankara Carnation No. 55, MSO Colony (Near ITC
Infotech Park) Bangalore – 560005, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.08.1972 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2016 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01648485 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Atul Aggarwal |
|
Designation : |
Company Secretary |
|
Address : |
Flat No- 404, Building No. 22, Thakur Village Evershine
Millenium Paradise, Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1980 |
|
Date of Appointment : |
04.07.2013 |
|
PAN No.: |
ADMPA5692B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
9X Media Employee Trust, India |
|
11453000 |
|
Kotak Mahindra Capital Company Limited, India |
|
128400 |
|
Kotak Mahindra Trusteeship Services Limited A/c India Growth Fund, a
unit scheme of Kotak SEAF India Fund |
|
250001 |
|
NSR-PE Mauritius LLC, Mauritius |
|
75387096 |
|
Pradeep Guha |
|
4234503 |
|
Total |
|
91453000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
82.43 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
4.63 |
|
Public – Venture Capital |
0.27 |
|
Public - Bodies corporate |
0.14 |
|
Public – Other |
12.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of television broadcasting and operates in music channels. (Registered activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS5321N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Rivendell PE, LLC (erstwhile NSR-PE Mauritius LLC), Mauritius |
|
|
|
|
Subsidiary company
: |
U74999MH2007PTC168801
U22130MH2014PTC255151 |
|
|
|
|
Fellow Subsidiary
company : |
U92190CH2010PTC032556 |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
INX Media UK Limited, United Kingdom |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
91478000 |
Equity Shares |
INR 10/- each |
INR 914.780 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
91453000 |
Equity Shares |
INR 10/- each |
INR 914.530
Million |
|
|
Less : Amount recoverable from INX Media Employee Trust |
|
INR 100.714
Million |
|
|
Total |
|
INR 813.816 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 |
813.816 |
813.816 |
914.530 |
|
(b) Reserves & Surplus |
(618.650) |
(626.410) |
(452.562) |
|
(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) |
195.166 |
187.406 |
461.968 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
|
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.790 |
3.963 |
2.927 |
|
Total
Non-current Liabilities (3) |
5.790 |
3.963 |
2.927 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
219.945 |
151.961 |
0.000 |
|
(b) Trade payables |
164.433 |
190.794 |
121.901 |
|
(c) Other current liabilities |
169.274 |
199.402 |
200.295 |
|
(d) Short-term provisions |
6.194 |
6.453 |
3.645 |
|
Total
Current Liabilities (4) |
559.846 |
548.610 |
325.841 |
|
|
|
|
|
|
TOTAL |
760.802 |
739.979 |
790.736 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
47.571 |
54.590 |
44.219 |
|
(ii) Intangible Assets |
2.270 |
1.916 |
1.620 |
|
(iii) Capital work-in-progress |
1.580 |
3.866 |
0.086 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
81.350 |
81.350 |
81.250 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
89.675 |
79.946 |
175.568 |
|
(e) Other Non-current assets |
10.000 |
20.000 |
0.000 |
|
Total
Non-Current Assets |
232.446 |
241.668 |
302.743 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.645 |
0.645 |
0.645 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
432.925 |
365.415 |
363.006 |
|
(d) Cash and cash equivalents |
42.420 |
54.200 |
40.856 |
|
(e) Short-term loans and
advances |
51.818 |
77.160 |
83.295 |
|
(f) Other current assets |
0.548 |
0.891 |
0.191 |
|
Total
Current Assets |
528.356 |
498.311 |
487.993 |
|
|
|
|
|
|
TOTAL |
760.802 |
739.979 |
790.736 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1554.327 |
1316.473 |
1263.851 |
|
|
Other Income |
55.589 |
47.025 |
53.425 |
|
|
TOTAL
|
1609.916 |
1363.498 |
1317.276 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
369.579 |
326.741 |
290.281 |
|
|
Employees benefits expense |
379.637 |
338.873 |
303.816 |
|
|
Prior Period Items |
19.622 |
25.334 |
0.000 |
|
|
Exceptional Items |
0.000 |
0.000 |
25.000 |
|
|
Other expenses |
787.853 |
811.155 |
796.277 |
|
|
TOTAL |
1556.691 |
1502.103 |
1415.374 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
53.225 |
(138.605) |
(98.098) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23.138 |
14.138 |
0.831 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
30.087 |
(152.743) |
(98.929) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
22.328 |
21.105 |
17.708 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.759 |
(173.848) |
(116.637) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
7.759 |
(173.848) |
(116.637) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
11.306 |
7.703 |
6.765 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
1.298 |
5.426 |
2.389 |
|
|
TOTAL
IMPORTS |
1.298 |
5.426 |
2.389 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.08 |
(1.90) |
(1.42) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(38.112) |
(56.363) |
132.725 |
|
Net cash flows from (used in) operating activities |
(55.231) |
(75.089) |
3.391 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average
Collection Days (Sundry Debtors / Income * 365 Days) |
101.66 |
101.31 |
104.84 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.59 |
3.60 |
3.48 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
162.40 |
213.13 |
153.28 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.04 |
(2.30) |
(2.14) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.74 |
0.74 |
0.41 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.13 |
0.81 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.87 |
2.93 |
0.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.26 |
0.32 |
0.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.30 |
-9.80 |
-118.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.50 |
(13.21) |
(9.23) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.02 |
(23.49) |
(14.75) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.98 |
(92.77) |
(25.25) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.94 |
0.91 |
1.50 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.94 |
0.91 |
1.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.26 |
0.25 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.27 |
0.19 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.94 |
0.91 |
1.50 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
914.530 |
813.816 |
813.816 |
|
Reserves & Surplus |
-452.562 |
-626.410 |
-618.650 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
461.968 |
187.406 |
195.166 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
151.961 |
219.945 |
|
Total
borrowings |
0.000 |
151.961 |
219.945 |
|
Debt/Equity
ratio |
0.000 |
0.811 |
1.127 |
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
|
1263.851 |
1316.473 |
1554.327 |
|
|
|
4.164 |
18.068 |
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
|
1263.851 |
1316.473 |
1554.327 |
|
Profit |
(116.637) |
(173.848) |
7.759 |
|
|
(9.23%) |
(13.21%) |
0.50% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
No |
|
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 |
NOTE: Registered office has
been shifted from Urmi Corporate Park, 1st Floor, Solaris D,
Opposite L and T Gate No.6, Powai, Mumbai – 400072, Maharashtra, India to the
present address w.e.f. 01.07.2013
CORPORATE INFORMATION
Subject ("the Company") is a private company domiciled in India and incorporated under the provisions of the Companies Act, 1956 on August 08, 2006. The company is engaged in the business of television broadcasting and operates in music channels.
COMPANY PERFORMANCE
AND BUSINESS OVERVIEW
During the period, despite fierce competition and fragmentation, the company's channels continued to register strong growth in viewership in relevant target groups. During the year, the Company has launched a new channel 9X Bajao in Hindi language. The Company has entered into an Agreement with Triumph Media Vision Private Limited, whereby entire airtime of its newly launched Channel namely 9X Bajao has been procured by Triumph Media Vision Private Limited.
SUBSIDIARIES
INX Music Private
Limited
During the year under review, sole TV channel of INX Music's wholly owned subsidiary company (Paul Entertainments Private Limited) i.e. 9X Tashan, which is a Punjabi regional music channel and is available mainly in the states of Chandigarh, Punjab, Himachal Pradesh, Haryana, Jammu and Kashmir, Delhi etc., has strongly maintained its position among the top throughout the financial year under review and strengthened its position further with higher GRPs. It has also entered into an agreement with CG Enterprise for international distribution of the Company's channel 9X Tashan.
Paul Entertainments Private Limited
Paul's sole TV channel 9X Tashan is a Punjabi regional music channel which is available mainly in the states of Chandigarh, Punjab, Himachal Pradesh, Haryana, Jammu and Kashmir, Delhi etc. Though channel is new in the region and in strong competition with existing channels like PTC Chakde, ETC Punjabi, MH1 etc. but it has strongly maintained its position among the top throughout the financial year under review and strengthened its position further with higher GRPs. It has also entered into an agreement with CG Enterprise for international distribution of the Company's channel 9X Tashan.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G02059871 |
10561681 |
HDFC BANK LIMITED |
23/03/2015 |
25/02/2016 |
- |
250000000.0 |
4TH TOWER B, PENINSULA BUSINESS PARK, LOWER PAREL, MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
C49732951 |
10391912 |
YES BANK LIMITED |
16/11/2012 |
- |
24/03/2015 |
150000000.0 |
NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. A.B. ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA |
|
3 |
A95817276 |
10207418 |
ZEE ENTERTAINMENT ENTERPRISES LIMITED |
08/03/2010 |
- |
23/09/2010 |
600000000.0 |
135, DR.ANNIE BESANT ROAD, WORLI, CONTINENTAL BUILDING, MUMBAI – 400018, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
3.286 |
155.116 |
|
Guarantees |
10.000 |
10.000 |
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Computer equipments
- Office equipment
- Leasehold improvements
PRESS RELEASE
ZEE ACQUIRES 9X MEDIA
FOR INR 1600.000 MILLION
Oct 06, 2017
MUMBAI: Subhash Chandra-promoted Zee Entertainment BSE -0.59 % Enterprises (ZEE) has announced 100% acquisition of 9X Media and INX Music for a total cash consideration of INR 1600.000 Million.
ET was first to report on April 20 this year that the ZEE was in advanced stages of discussion with private equity player New Silk Route (NSR) to buy 9X Media, which owns a clutch of music channels, including 9XM, for close to Rs 200 crore.On July 19, ET once again reported that the deal was in final stages of negotiations and the price could be in the range of INR 1800.000-2000.000 Million. “The board of directors of the company at the meeting held on October 6 approved acquisition of 100% equity stake in two media entities- 9X Media and INX Music, from their existing shareholder at an aggregate cash consideration of INR 1600.000 Million,” the company said in a regulatory filing to BSE on Friday.
Punit Goenka, MD and CEO, ZEE, said, “Continuing with our strategy of expanding into regional markets and niche genres, we are pleased to announce this acquisition which strengthens our music portfolio. Music is an integral component of consumer’s entertainment pie and we will offer our consumers a wider array of choices through these channels.”
Goenka added that 9X channels will benefit from ZEE network’s strength to
achieve higher growth potential and cost synergies.
9X Media, along with its subsidiaries, operates a bouquet of six music channels
- 9XM (Latest Bollywood), 9X Jalwa (Evergreen Hindi), 9X Jhakaas (Marathi), 9X
Tashan (Punjabi), 9XO (English), 9X Bajao (Hindi Classics). It also has a
digital product, SpotboyE, offering Bollywood’s news, gossip, movie reviews and
other updates.
Last year, Sony Pictures Networks India (SPN) agreed to buy 9X Media for Rs 220
crore. However, after due diligence, some legacy taxation issues were
discovered, which could not be sorted out and SPN decided to walk out of the
negotiation.
Zee has been active in the mergers and acquisitions space in the past couple of
years. Recently, the group sold its sports broadcasting business, housed under
Taj Television and operating under Ten Sports brand, to Sony Pictures Networks
India for $385 million
It then acquired 49% stake in Anil Ambani-owned Reliance Broadcast Network’s
radio business Big FM
ZEE has also acquired the remaining 26% stake in its 74% subsidiary Zee Turner,
for INR 2,60,000
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 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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.