|
|
|
MIRA
INFORM REPORT
|
Report No. : |
492010 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SONY PICTURES NETWORKS INDIA PRIVATE LIMITED (w.e.f. 11.12.2015) |
|
|
|
|
Formerly Known
As : |
MULTI SCREEN MEDIA PRIVATE LIMITED (w.e.f. 21.11.2007) SET INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Interface Building No. 7, Opposite Malad Link Road, Malad (West), Mumbai - 400064, Maharashtra |
|
Tel. No.: |
91-22-67081111 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
18.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-111487 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 92.180 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92100MH1995PTC111487 |
|
|
|
|
IEC No.: |
Not Divulged |
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|
|
|
GST No.: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS1728D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is primarily engaged in the business of Broadcasting Television Channels. The Company is also in business of Production and Distribution of Films. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Sony Corporation” which owns and operates the Sony Entertainment network of television channels. It offers shows based on general entertainment, sports, movies, factual entertainment, news, reality, action, animation, adventure and lifestyle.
However, the rating strengths are partially off-set by changing trends in the media sector, intense competition and risks related to regulatory changes. Payments seems to be usually correct. In view of well-known brand name “Sony”, the company can be considered for business dealings at usual trade terms and conditions. NOTE: As per
Registrar of Companies date of balance sheet (i.e. financial filed) is shown
as 31.03.2017 but documents related to financial for the year 31.03.2017 are
not available from any sources. |
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
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 16.10.2017.
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
(Contact No: 91-22-67081300/ 67081111/ 67081292)
LOCATIONS
|
Registered Office/ Head Quarter : |
4th Floor, Interface Building No. 7, Opposite Malad Link Road, Malad (West), Mumbai - 400064, Maharashtra, India |
|
Tel. No.: |
91-22-67081111/ 67081300/ 1292 |
|
Fax No.: |
91-22-66434748 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Offices : |
Located at : · Bihar · Bangalore · Chennai · Indore · Hyderabad · Gurgaon · Kolkata |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Andrew Jay Kaplan |
|
Designation : |
Director |
|
Address : |
13225 Old Oak Lane, Los Angeles California, 90049, United States of America |
|
Date of Birth/Age : |
02.11.1960 |
|
Qualification : |
B.A. in Economics, M.B.A. USC |
|
Date of Appointment : |
25.09.2003 |
|
DIN No.: |
01532580 |
|
|
|
|
Name : |
Man Jit Singh |
|
Designation : |
Director |
|
Address : |
1050 Brooklawn Drive, Los Angeles California, 90077, United States oof America |
|
Date of Birth/Age : |
27.12.1956 |
|
Qualification : |
B.A./M.B.A. |
|
Date of Appointment : |
03.01.2014 |
|
DIN No.: |
01646045 |
|
|
|
|
Name : |
George Chien |
|
Designation : |
Director |
|
Address : |
6440 West 82nd Street, Los Angeles, 90045, United States of America |
|
Date of Birth/Age : |
09.07.1972 |
|
Qualification : |
BBA, CPA |
|
Date of Appointment : |
15.10.2010 |
|
DIN No.: |
03101431 |
|
|
|
|
Name : |
Mr. Narinder Pal Singh |
|
Designation : |
Managing Director |
|
Address : |
22, Harshavardhan, J.P. Road Versova, Andheri (West) Mumbai – 400061, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1959 |
|
Qualification : |
M. Com, AICWA |
|
Date of Appointment : |
12.01.2016 |
|
DIN No.: |
03335912 |
KEY EXECUTIVES
|
Name : |
Mr. Rajkumar Bidawatka |
|
Designation : |
Company Secretary |
|
Address : |
302, C Wing, 3rd Floor, Rock Avenue Plot - D Opposite Joy
Icecream, Kandivali West, Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1968 |
|
Date of Appointment : |
19.07.2007 |
|
PAN No.: |
AAIPB4224H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
SPE Mauritius Holdings Limited, Mauritius |
|
5902453 |
|
SPE Mauritius Investments Limited, Mauritius |
|
5902453 |
|
SPE Singapore Holding Inc., USA |
|
1 |
|
South Asian Regional Investments Singapore Pte Limited, Singapore |
|
24490 |
|
South Asian Regional Investments Singapore II Pte Limited, Singapore |
|
8163 |
|
CPE India Holding LLC, USA |
|
46100 |
|
|
|
|
|
Total |
|
11883660 |
AS ON 22.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters
– Others (Foreign Body Corporates) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of Broadcasting Television Channels. The Company is also in business of Production and Distribution of Films. (Registered Activity) |
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Products : |
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Brand Names : |
‘’Sony’’ |
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
|
||||
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Selling : |
Not Divulged |
||||
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||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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||||||||||||||||||||||
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Facilities : |
--- |
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding Company : |
Sony Corporation ** |
|
|
|
|
Shareholders having significant influence
: |
· SPE Mauritius Holdings Limited ** · SPE Mauritius Investments Limited ** |
|
|
|
|
Joint Venture with BBC Worldwide Limited
: |
MSM-Worldwide Factual Media Private Limited (incorporated on January 12, 2016) |
|
|
|
|
Subsidiary Company : |
· Sony Pictures Networks Distribution India Private Limited, India [U92490MH2015PTC263107] · Msm Asia Limited · Msm Discovery Private Limited, India [U92132MH2002PTC136158] · Msm Satellite (Singapore) Pte. Limited ** · Mainline Sports Pte Limited ** ·
Msm North America, Inc ** |
|
|
|
|
Fellow Subsidiary Company : |
· AXN Networks India Private Limited, India (U92419MH2010FTC210915) · Sony Pictures Television UK Rights Limited · SPE Films India Private Limited, India [U92112DL1998PTC096338] · SPE India Films Holding LLC · SPE Networks - India Inc. · SPE Singapore Holdings Inc · SPTL Holdings Pte Limited · Bangla Entertainment Private Limited, India [U92199MH2007PTC270854] · Sony Global Treasury Services Plc. · SONY INDIA PRIVATE LIMITED, India [U74899DL1994PTC062781] · SONY MUSIC ENTERTAINMENT INDIA PRIVATE LIMITED, India [U92100MH2004PTC146706] ·
Sony Pictures Entertainment Inc. |
Note:
** There are no transactions during the year with the above Companies
CAPITAL STRUCTURE
AS ON 22.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
INR 10/- each |
INR 750.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11883660 |
Equity Shares |
INR 10/- each |
INR 118.837 Million |
|
|
|
|
|
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9217332 |
Equity Shares |
INR 10/- each |
INR 92.180
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
92.180 |
91.390 |
91.390 |
|
(b) Reserves and Surplus |
19133.830 |
15447.230 |
14722.910 |
|
(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) |
19226.010 |
15538.620 |
14814.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
6027.850 |
10061.520 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
169.320 |
|
(c) Other long-term
liabilities |
93.870 |
93.920 |
99.900 |
|
(d) long-term
provisions |
2700.860 |
2261.290 |
1557.150 |
|
Total Non-current
Liabilities (3) |
2794.730 |
8383.060 |
11887.890 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
3250.000 |
4876.860 |
3710.870 |
|
(b) Trade
payables |
6204.630 |
8647.230 |
4886.960 |
|
(c) Other
current liabilities |
8951.850 |
1893.050 |
1970.590 |
|
(d) Short-term
provisions |
26.880 |
17.320 |
18.100 |
|
Total Current
Liabilities (4) |
18433.360 |
15434.460 |
10586.520 |
|
|
|
|
|
|
TOTAL |
40454.100 |
39356.140 |
37288.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
432.710 |
449.210 |
330.900 |
|
(ii)
Intangible Assets |
132.820 |
128.110 |
712.790 |
|
(iii) Tangible assets
capital work-in-progress |
56.280 |
77.350 |
46.410 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
221.480 |
17.380 |
17.280 |
|
(c) Deferred tax assets (net) |
888.050 |
368.090 |
264.040 |
|
(d)
Long-term
loans and advances |
329.500 |
158.310 |
258.430 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2060.840 |
1198.450 |
1629.850 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
17847.440 |
22368.900 |
18073.590 |
|
(c) Trade
receivables |
6081.720 |
5877.240 |
5781.460 |
|
(d) Cash and bank
balances |
1256.750 |
1288.360 |
1082.600 |
|
(e)
Short-term loans and advances |
13197.710 |
8479.690 |
10337.590 |
|
(f) Other
current assets |
9.640 |
143.500 |
383.620 |
|
Total
Current Assets |
38393.260 |
38157.690 |
35658.860 |
|
|
|
|
|
|
TOTAL |
40454.100 |
39356.140 |
37288.710 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
39001.370 |
33426.720 |
6160.230 |
|
|
Other Income |
939.790 |
222.560 |
239.540 |
|
|
TOTAL |
39941.160 |
33649.280 |
6399.770 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
423.960 |
|
|
Employee benefit expense |
2191.810 |
1887.240 |
2021.570 |
|
|
CSR expenditure |
8.750 |
1.000 |
0.000 |
|
|
Other expenses |
31072.340 |
28509.580 |
2409.730 |
|
|
Extraordinary items |
0.000 |
611.480 |
0.000 |
|
|
TOTAL |
33272.900 |
31009.300 |
4855.260 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
6668.260 |
2639.980 |
1544.510 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
876.890 |
930.390 |
125.250 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5791.370 |
1709.590 |
1419.260 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
272.350 |
242.200 |
161.050 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
5519.020 |
1467.390 |
1258.210 |
|
|
|
|
|
|
|
Less |
TAX |
1944.870 |
743.070 |
482.150 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3574.150 |
724.320 |
776.060 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Advertisements Income |
187.220 |
209.200 |
0.000 |
|
|
Digital and Licensing Income |
767.910 |
287.040 |
0.000 |
|
|
Revenue share from distribution and advertising time |
2059.820 |
1989.510 |
0.000 |
|
|
Subscription Income |
106.660 |
158.590 |
0.000 |
|
|
FOB value of exports of Programs |
0.000 |
0.000 |
0.770 |
|
|
Service income |
0.000 |
0.000 |
18.830 |
|
|
Service Fee |
0.000 |
0.000 |
5938.200 |
|
|
TOTAL EARNINGS |
3121.610 |
2644.340 |
5957.800 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
57.040 |
70.840 |
25.560 |
|
|
TOTAL IMPORTS |
57.040 |
70.840 |
25.560 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
387.76 |
79.26 |
84.92 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
6027.850 |
0.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
4415.900 |
4445.360 |
369.410 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
2251.340 |
3988.480 |
(75.390) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
56.92 |
64.18 |
342.56 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.41 |
5.69 |
1.07 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
4207.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.37 |
0.12 |
0.09 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
10.72 |
4.03 |
1.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.60 |
0.55 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.48 |
0.70 |
0.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.96 |
0.99 |
0.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.03 |
0.04 |
0.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.60 |
2.84 |
12.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
9.16 |
2.17 |
12.60 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.84 |
1.84 |
2.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.59 |
4.66 |
5.24 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.08 |
2.47 |
3.37 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.11 |
1.02 |
1.66 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.48 |
0.39 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
100.65 |
119.32 |
150.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.08 |
2.47 |
3.37 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL DATA
[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 |
91.390 |
91.390 |
92.180 |
|
Reserves & Surplus |
14722.910 |
15447.230 |
19133.830 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
14814.300 |
15538.620 |
19226.010 |
|
|
|
|
|
|
Long-term borrowings |
10061.520 |
6027.850 |
0.000 |
|
Short term borrowings |
3710.870 |
4876.860 |
3250.000 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
6027.850 |
|
Total
borrowings |
13772.390 |
10904.710 |
9277.850 |
|
Debt/Equity
ratio |
0.930 |
0.702 |
0.483 |
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 |
6160.230 |
33426.720 |
39001.370 |
|
|
|
442.621 |
16.677 |
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 |
6160.230 |
33426.720 |
39001.370 |
|
Profit/ (Loss) |
776.060 |
724.320 |
3574.150 |
|
|
12.60
% |
2.17
% |
9.16
% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
|
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
92.180 |
|
(b) Reserves & Surplus |
|
|
20439.420 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
|
0.000 |
|
(3) Minority
Interest |
|
|
19.810 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
20551.410 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
106.030 |
|
(d)
long-term provisions |
|
|
2730.940 |
|
Total
Non-current Liabilities (3) |
|
|
2836.970 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
3250.000 |
|
(b)
Trade payables |
|
|
6044.750 |
|
(c)
Other current liabilities |
|
|
9802.100 |
|
(d)
Short-term provisions |
|
|
29.250 |
|
Total
Current Liabilities (4) |
|
|
19126.100 |
|
|
|
|
|
|
TOTAL |
|
|
42514.480 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
447.350 |
|
(ii)
Intangible Assets |
|
|
135.080 |
|
(iii)
Capital work-in-progress |
|
|
56.280 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
14.230 |
|
(c) Deferred tax assets
(net) |
|
|
931.010 |
|
(d) Long-term Loan
and Advances |
|
|
1180.360 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
2764.310 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
17608.880 |
|
(c)
Trade receivables |
|
|
6254.780 |
|
(d)
Cash and cash equivalents |
|
|
4353.710 |
|
(e)
Short-term loans and advances |
|
|
11168.620 |
|
(f)
Other current assets |
|
|
364.180 |
|
Total
Current Assets |
|
|
39750.170 |
|
|
|
|
|
|
TOTAL |
|
|
42514.480 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
|
39817.090 |
|
|
|
Other Income |
|
|
1229.700 |
|
|
|
TOTAL |
|
|
41046.790 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
2869.970 |
|
|
|
Administrative Expenses |
|
|
31002.070 |
|
|
|
TOTAL |
|
|
33872.040 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
7174.750 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
876.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
6297.860 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
286.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
|
|
6011.660 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
2050.310 |
|
|
|
|
|
|
|
|
|
|
PROFIT (LOSS) FOR
PERIOD BEFORE MINORITY INTEREST |
|
|
3961.350 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT (LOSS) OF
MINORITY INTEREST |
|
|
3.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT (LOSS) FOR
PERIOD |
|
|
3958.110 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (INR) |
|
|
429.42 |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
6027.850 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Term loans from banks |
3250.000 |
4876.860 |
|
|
|
|
|
Total |
3250.000 |
10904.710 |
GENERAL INFORMATION
Sony Pictures Networks India Private Limited (Formerly Multi Screen Media Private Limited) ( the 'Company') was incorporated in India & is primarily engaged in the business of broadcasting television channels. The Company is also engaged in business of production and distribution of films.
SCHEME OF AMALGAMATION OF AXN NETWORKS
INDIA PRIVATE LIMITED AND SPE NETWORKS – INDIA INC. WITH THE COMPANY:
Amalgamation of AXN Networks India Private Limited (“AXNNI”) and SPE Networks – India Inc. (“SPENI”) with the Company, was approved by the High Court of Judicature at Bombay (the “Court”) on July 01, 2016 and was made effective on August 11, 2016.
Upon the Scheme becoming effective, all of the assets and liabilities of AXNNI and SPENI were transferred to and assumed by the Company. Further, as provided in the Scheme of Amalgamation:
i. The Company has allotted 46,100 fully paid up equity shares of INR 10 each of the Company to the shareholders of SPENI and 32,653 fully paid up equity shares of INR 10 each of the Company to the shareholders of AXNNI. After allotment of shares, the paid up capital of the Company has increased to INR 92,173,320 divided in to 9,217,332 equity shares of INR 10 each. The financial statements for the financial year ended March 31, 2016 carries the impact of increase in paid up capital.
ii. The Authorised Capital of AXNNI has been added to the Authorised Capital of the Company. After such addition, the Authorised Capital of the Company has increased from INR 500 million divided in to 50 million equity shares of INR 10 each to INR 750 million divided in to 75 million equity shares of INR 10 each.
B. SCHEME OF AMALGAMATION OF MSM DISCOVERY
PRIVATE LIMITED
On March 18, 2016, the Company filed with the High Court of Judicature at Bombay (the “Court”) a scheme (the “Scheme”) for the amalgamation of MSM Discovery Private Limited (“MSMD”), a wholly owned subsidiary of the Company with the Company, which was approved by the Board of Directors of the Company and is subject to the sanction of the Court and filings as may be necessary for the implementation of the Scheme.
Upon the Scheme becoming effective, all of the assets and liabilities of MSMD will be transferred to and assumed by the Company at book value and further, all equity shares of MSMD held by the Company shall get cancelled. The appointed date for the amalgamation proposed by the Company under the Scheme is April 1, 2014.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Guarantees issued on behalf of others |
170.000 |
170.000 |
|
Claims against the Company not acknowledged as debts* |
|
|
|
Legal Cases |
2585.570 |
2585.570 |
|
Income Tax Matters** |
9247.250 |
6575.590 |
|
Sales Tax Matters |
262.820 |
262.820 |
|
Service Tax Matters |
18551.120 |
18290.600 |
Notes:
(a) It is not practical for the Company to estimate the timings of cash outflows, if any, in respect of the above pending resolution of the respective proceedings.
(b) The Company does not expect any reimbursements in respect of the above contingent liabilities.
* Claims against the Company not acknowledged as debts includes the following -
- A claim of INR 1,000 million raised by Saregama Private Limited on the Company, Balaji Telefilms Private Limited and Others.
- A claim of INR 1,000 million raised by Speak Asia Private Limited on the Company, MSM Satellite Singapore Pte Ltd, Hats Off Productions Private Limited and Others.
** Includes INR 170.78 million pertaining to AXN Networks India Private Limited and SPE Networks-India Inc which is amalgamated with effect from April 1, 2015 with the Company (Refer Note 42(a)).
FIXED ASSETS:
Tangible Assets
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with Government
:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.92 |
|
|
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.