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MIRA INFORM REPORT
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Report No. : |
494633 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ZEE ENTERTAINMENT ENTERPRISES LIMITED (w.e.f.10.01.2007) |
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Formerly Known
As : |
ZEE TELEFILMS LIMITED (w.e.f.1192) EMPIREHOLDINGS LIMITED |
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Registered
Office : |
18th Floor, 'A' wing, Marathon Futurex, NM Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Tel. No.: |
91-22-71061234 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
25.11.1982 |
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Com. Reg. No.: |
11-028767 |
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Capital
Investment / Paid-up Capital : |
INR 960.000 Million |
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CIN No.: [Company Identification
No.] |
L92132MH1982PLC028767 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACZ0243R |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The engaged in the business of media and entertainment. · Broadcasting of Satellite Television Channels; · Space Selling agent for other satellite television channels; · Sale of Media Content i.e. programs / film rights / feeds / music rights. (Registered Activity) |
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No. of Employees
: |
1931 (Approximately) |
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 130000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Zee Entertainment Enterprises Limited was incorporated in 1982 and is based in Mumbai, Maharashtra and is a part of the Essel groupone of India’s leading television media and entertainment companies in India with a wide viewer base of over 1.3 billion across 172 countries. ZEEL operates a wide bouquet of 37 domestic channels and deliver 39 international channels covering all genres of entertainment. The company activities include content aggregation, TV broadcasting and domestic and international pay-TV platform. It is amongst largest aggregators of Hindi programming in the world, with an extensive library housing over 250,000 hours of television content and with rights of over 4200 movie titles and is a houses one of the largest Hindi film library. ZEE has 10 regional news channels, 6 Hindi general entertainment channels, 7 Hindi movies channels, 2 Bollywood channels, 6 Music channels, 5 English entertainment channels, 4 Factual entertainment channels, 1 shopping channel, 17 Regional entertainment channels and 15 International channels. For the financial year ended 2017, the company has achieved 17.16% growth in its revenue as compared to previous year revenue and has maintained decent profitability margin of 20.98% during the year under review. Rating continue to derive strength from company’s long track record in the media and entertainment industry supported by large bouquet of channel offerings covering a wide genre of entertainment and positioning of the flagship channel ‘Zee TV’ amongst the top Hindi General Entertainment Channels (GECs) in terms of Television Viewership and platform for distribution with a wide subscriber base. Rating further strengthened by company’s comfortable financial profile characterized by healthy debt coverage indicators and sizeable cash reserves and liquid investments. However, rating strength is partially offset by volatile nature of the main source of revenue, i.e., advertisement revenues, which is sensitive to key economic indicators and regulatory changes. Furthermore, the rating also factor in changing trends in the media sector along with intense competition and losses in the sports business. Business is active. Payment seems to be regular. In view of aforesaid, Zee Entertainment Enterprises Limited can be considered good for normal business dealing at usual trade terms and conditions. NOTE: During FY 17, the Board approved sale of Sports Broadcasting Business comprising of (a) assets and rights relating to TEN brand of Sports Channels held in Taj TV Ltd, Mauritius a step down wholly owned overseas subsidiary of the Company and (b) sale of entire equity stake in the Indian subsidiary handling Sports business viz. Taj Television (India) Pvt Ltd to Sony Group, at an aggregate all-cash consideration of USD 385 Million. Major part of the said transaction was concluded on February 28, 2017 upon receipt of part consideration aggregating to USD 330 Million from Sony Group. During the year under review, with a view to expand the General Entertainment Channel (GEC) portfolio of the Company, the Board approved acquisition of General Entertainment Broadcasting Business (‘GEC Business Undertaking’) comprising inter alia of 2 operational GECs and 4 non-operational GECs housed under Reliance Big Broadcasting Pvt Ltd, Big Magic Limited and Azalia Broadcast Pvt Ltd (collectively referred as ‘Demerged entities’) all entities forming part of Reliance Group led by Anil Ambani, by way of Demerger under a Composite Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013. As per the said Scheme, entire assets, liabilities and employees of the GEC Business Undertaking shall vest on the Company with effect from the Appointed Date of March 31, 2017 and in consideration of such demerger, the Company shall issue an aggregate of 39.50 Lakhs Unlisted Preference Shares of ` 10/- each to the shareholders of Demerged entities. Upon receipt of No-objection(s) of the Stock Exchanges to
the Scheme and approval of the Equity and Preference Shareholders of the
Company at the meetings held on May 9, 2017, the said Scheme is now awaiting
final approval of Mumbai Bench of Hon’ble National Company |
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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long-term Bank Facilities = AA+ |
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Rating Explanation |
High degree of safety and very low credit risk. |
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Date |
27.10.2016 |
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Rating Agency Name |
CARE |
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Rating |
Short-term Bank Facilities = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
27.10.2016 |
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 01.03.2018
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 (91-22-71061234)
LOCATIONS
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Registered Office : |
18th Floor, 'A' wing, Marathon Futurex, NM Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-71061234/ 24815500/ 24900302 |
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Fax No.: |
91-22-23002107 |
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E-Mail : |
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Website : |
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Regional Offices : |
Located At: · New Delhi · Kolkata · Pune · Hyderabad · Chennai · Bangalore · Ahmedabad |
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International Offices : |
Located At: · USA · United Kingdom · South Africa · Singapore · Manutius · China · Malaysia · UAE Dubai · Russia |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Adesh Kumar Gupta |
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Designation : |
Director |
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Address : |
701, Tagore Avenue Tagore Road, Santa Cruz, Mumbai –
400054, Maharashtra, India |
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Profile : |
Mr. Adesh
Kumar Gupta, Chartered Accountant, Company Secretary and AMP from Harvard is a
professional with rich experience of over 35 years in Corporate Strategy,
M&A, Business restructuring, Fund raising, Taxation among others During
his distinguished career of over 3 decades in Aditya Birla Group, Mr. Gupta
held various senior positions (including Board positions) in companies in
various fields including Indian Rayon, Birla Global Finance, Aditya Birla
Nuvo Ltd. and Grasim Industries Ltd. Post his
retirement as Whole-Time Director and CFO of Grasim Industries Ltd., Mr.
Gupta ventured into Business Finance and Corporate Service space as
Designated Partner of Progressive Consulting & Business Advisory LLP. |
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Date of Appointment : |
30.12.2015 |
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DIN No.: |
00020403 |
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Name : |
Mr. Punit Goenka |
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Designation : |
Managing Director and Chief Executive Officer |
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Address : |
Bungalow No. 1, Jolly Maker Apartment No. 1 Cuffe Parade,
Colaba, Mumbai - 400005, Maharashtra,
India |
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Profile : |
Mr. Punit Goenka’s futuristic vision and sharp acumen in the new media
domain, has led the Company to a global stature today. Mr. Goenka is also
responsible for expanding the Company’s international presence across 171
countries, and its reach to over more than 1 billion viewers. Mr. Goenka is
the only Indian Corporate Leader to receive the prestigious Médaille
d’Honneur. He is also listed amongst the top 100 CEOs of India, in a study
published by Business Today. He has also received the prestigious Economic
Times ’40 Under Forty’ India’s Hottest Business Leaders Award 2014 and has
bagged the prestigious IAA Leadership Award under the category of “Media
Person of the Year Award”. Mr. Goenka has been recognised as the
“Entrepreneur of the Year” during the recently held Asia Pacific
Entrepreneurship Awards. |
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Date of Birth/Age : |
20.06.1975 |
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Date of Appointment : |
01.01.2005 |
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DIN No.: |
00031263 |
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Name : |
Mr. Subhash Chandra |
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Designation : |
Director |
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Address : |
Flat No.4 Hyde Part Street London W22jw, London - 000000
GB |
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Profile : |
Non-Executive
Chairman of the Board and Promoter of Essel Group of Companies, Dr. Subhash
Chandra is a self-made man who has consistently demonstrated his ability to
identify new businesses and lead them on the path of success. His industry
leading businesses include television networks and film entertainment, cable
systems, theme parks, flexible packaging, family entertainment centres and
infrastructure. For his
contributions to the industry, Dr. Chandra has been awarded the International
Emmy Directorate Award at the 39th International Emmy Awards night in New
York and has also been Honored with the Doctorate of Business Administration
by the University of East London. Dr. Chandra’s immense contribution to the
socio-economic wellbeing, was recognised by Canada India Foundation by
honoring him with the Global Indian Award. |
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Date of Birth/Age : |
30.11.1950 |
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Date of Appointment : |
25.06.1992 |
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DIN No.: |
00031458 |
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Name : |
Mr. Ashok Mathai Kurien |
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Designation : |
Director |
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Address : |
252, 25th Floor, Tahnee Heights, 66 Nepeansea Road, Mumbai
– 400006, Maharashtra, India |
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Profile : |
One of the
Founder Promoters, he is associated with ZEE since its inception. One of the
Founder partners of Hanmer & Partners, among India’s top 3 public
relations agencies; Flora2000, one of the leading global online flower
distribution services, and
Remindo, an Intranet 2.0 Office Communication Network. He also works as a
special advisor to the US$ 7 billion Publicis Group. |
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Date of Birth/Age : |
21.01.1950 |
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Date of Appointment : |
17.11.1992 |
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DIN No.: |
00034035 |
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Name : |
Mr. Manish Balkishan Chokhani |
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Designation : |
Director |
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Address : |
161,Silver Arch, Petit Hall Compound, 66 L Jagmohandas Marg,
Nepeansea Road, Mumbai – 400006, Maharashtra, India |
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Profile : |
A Chartered
Accountant and MBA from London Business School, and one of India’s most
respected investors and financial experts. He was MD & CEO of Enam
Securities and led Enam’s $400 Million merger in 2011 with Axis Bank to
create Axis Capital Ltd. (ACL) wherein he held the position of MD & CEO
until November 2013. He is also associated with TPG Growth India as its
Chairman and is on the board of Westlife Development, Shoppers Stop and Laxmi
Organic as an Independent Director. Mr. Manish Chokhani is an active member
of the World Presidents Organization, a Fellow of the All India Management
Association, and has served three terms as Co-Chairman of the Capital Markets
Committee. He is also a member of SEBI’s Alternative Investment Promotion
Committee. He has been a visiting faculty member at IIM-Kozhikode. He has
also served on the International Alumni Board and scholarship panels of
London Business School. |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
00204011 |
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Name : |
Mr. Sunil Sharma |
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Designation : |
Director |
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Address : |
A-73, Sanjay Tower, Near Shyamal Row Houses – 3B
Satellite, Ahmedabad – 380015, Gujarat, India |
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Profile : |
Prof. Sunil Sharma
has earned a fellowship (Ph.D) in Business Policy from the Indian Institute
of Management, Ahmedabad, and a Bachelor’s degree in Mechanical Engineering
from UP Technical University. Prof. Sharma’s specialisation is in strategy
formulation under uncertainty, innovation management, and organisational
capabilities. He teaches courses on strategy, consulting, and innovation. His
most recent consulting assignment was to formulate the vision and mission,
review the organisational set-up and suggest a new organisation
structure, and develop a business model for the Competition Commission of
India. |
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Date of Appointment : |
22.01.2014 |
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DIN No.: |
06781655 |
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Name : |
Mr. Neharika Vohra |
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Designation : |
Director |
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Address : |
House No 413, Indian Institute Of Management Vastrapur,
Ahmedabad – 380015, Gujarat, India |
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Profile : |
Prof.
Neharika Vohra, Professor of Organisational Behaviour at the Indian Institute
of Management, Ahmedabad, holds two post-graduate degrees. A first ranker in
graduation and a post-graduate in psychology, she also holds a Ph.D in social
psychology from the University of Manitoba, Canada. She has been
the recipient of various awards and recognition in her professional field including
the ‘Best Teacher Award’ by the University of Manitoba, the ‘Young
Psychologist Award’ by the International Union of Psychologists, the
‘Learning Luminary Award’ by OD Roundtable and the ‘Woman Achievers Award’ by
FICCI Ladies Organisation. |
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Date of Appointment : |
12.03.2014 |
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DIN No.: |
06808439 |
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Name : |
Mr. Subodh Kumar |
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Designation : |
Non - Executive Vice Chairman |
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Profile : |
Mr. Subodh
Kumar holds an M.Sc in Physics and several diplomas and management certificates
from IIM-A, IIM-B, IIM-C, Harvard Business School, IDS Sussex, IMF amongst
other Ivy League institutions. Mr. Kumar had
one of the most illustrious careers in the Indian Administrative Service,
spanning 35 years, heading various key government agencies with stellar
integrity and transparency. He has made
many noticeable contributions to the areas of his work and most notably made
modifications to the Development Control Regulations thereby drastically reducing
the manipulation in the building industry. |
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Date of Appointment : |
16.10.2015 |
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DIN No.: |
02151793 |
KEY EXECUTIVES
|
Name : |
Mr. Mahadevan Lakshminarayanan |
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Designation : |
Company Secretary |
|
Address : |
Flat No. 201, 2nd Floor, Subodh Park CHS, 17th Road, Chembur, Mumbai – 400071, Maharashtra, India |
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Date of Birth/Age : |
20.05.1962 |
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PAN No.: |
AGIPM2651D |
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Name : |
Mr. Bharat Kumar Kedia |
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Designation : |
CFO(KMP) |
|
Profile : |
C-3203, Oberoi Springs Opposite : Citi Mall, CTS # 705 Off Link Road , Andheri, Mumbai – 400058, Maharashtra, India |
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Date of Appointment : |
01.08.2017 |
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PAN No.: |
AFVPK8803K |
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Name : |
Mr. Amit Goenka |
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Designation : |
Chief Executive Officer - International Business |
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Name : |
Mr. Anurag Bedi |
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Designation : |
Music Business |
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Name : |
Mr. Harish Goyal |
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Designation : |
International Business - Africa |
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Name : |
Mr. Mihir Modi |
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Designation : |
Finance and Strategy |
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Name : |
Mr. Monojit Indra |
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Designation : |
Commercial |
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Name : |
Mr. Mukund Cairae |
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Designation : |
International Business – Menapt and APAC |
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Name : |
Mr. Neeraj Dhingra |
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Designation : |
International Business - Europe |
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Name : |
Mr. Nittin Keni |
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Designation : |
Movie Busines |
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Name : |
Mr. Rajeev Kheror |
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Designation : |
Digital & Linear Content Strategy |
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Name : |
Mr. Rajendra Mehta |
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Designation : |
Human Resources |
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Name : |
Mr. Rajneesh Mittal |
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Designation : |
Information Technology |
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Name : |
Mr. Rajesh Sethi |
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Designation : |
Sports and Affiliate Revenue |
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|
Name : |
Mr. Sameer Targe |
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Designation : |
International Business – USA |
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|
Name : |
Mr. Sharada Sunder |
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Designation : |
Regional Business |
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Name : |
Mr. Sunil Buch |
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Designation : |
Network Business, Operations, Research, Marketing and PR |
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Name : |
Mr. Sunita Uchil |
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Designation : |
International Advt. Sales And Global, Syndication |
SHAREHOLDING PATTERN
AS ON DECEMBER 2017
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
(A) Promoter & Promoter Group |
41,36,70,212 |
43.07 |
|
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(B) Public |
54,67,83,408 |
56.93 |
|
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Grand Total |
96,04,53,620 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
A1) Indian |
0.00 |
||
|
Any Other (specify) |
24,14,13,408 |
25.14 |
|
|
Cyquator Media services Private Limited |
24,14,12,908 |
25.14 |
|
|
Sprit Textiles Pvt. Ltd. |
400 |
0.00 |
|
|
Essel Infraprojects Limited |
100 |
0.00 |
|
|
Sub Total A1 |
24,14,13,408 |
25.14 |
|
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A2) Foreign |
0.00 |
||
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Any Other (specify) |
17,22,56,804 |
17.93 |
|
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Essel Media Ventures Limited |
10,28,88,286 |
10.71 |
|
|
essel Holdings Limited |
4,63,68,518 |
4.83 |
|
|
Essel International Limited |
2,30,00,000 |
2.39 |
|
|
Sub Total A2 |
17,22,56,804 |
17.93 |
|
|
A=A1+A2 |
41,36,70,212 |
43.07 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
No. of shareholder |
Shareholding % calculated
as per SCRR, 1957 As a % |
|
|
B1) Institutions |
0 |
4,07,59,416 |
|
|
Mutual Funds/ |
40759416 |
1,14,21,785 |
|
|
ADITYA Birla
Sunlife Trustee Private Limited A/c Aditya Birla Sun Life Tax Plan |
11421785 |
40,57,91,611 |
|
|
Foreign Portfolio Investors |
405791611 |
6,53,00,739 |
|
|
Oppenheinmer Developing Markets Fund |
65300739 |
1,53,83,843 |
|
|
Virtus Vontobel Emerging Markets Opportunities Fund |
15383843 |
1,51,61,756 |
|
|
Vanguard International Growth Fund |
15161756 |
1,05,06,408 |
|
|
Government of Singapore |
10506408 |
96,92,924 |
|
|
Abhudhabi Investment Authority - Merlion |
9692924 |
3,84,20,794 |
|
|
Financial Institutions/ Banks |
38420794 |
3,69,21,339 |
|
|
Life Insurance Corporation Of India |
36921339 |
48,49,71,821 |
|
|
Sub Total B1 |
484971821 |
||
|
B2) Central Government/ State Government(s)/ President of India |
0 |
15,50,995 |
|
|
Central Government/ State Government(s)/ President of India |
1550995 |
15,50,995 |
|
|
Sub Total B2 |
1550995 |
||
|
B3) Non-Institutions |
0 |
1,63,10,274 |
|
|
Individual share
capital upto INR 0.200 Million |
16310274 |
15,75,113 |
|
|
Individual share
capital in excess of INR 0.200 Million |
1575113 |
4,23,75,205 |
|
|
Any Other (specify) |
42375205 |
3,20,23,665 |
|
|
Bodies Corporate |
32023665 |
16,82,005 |
|
|
Clearing Members |
1682005 |
4,30,178 |
|
|
HUF |
430178 |
60,03,459 |
|
|
Trusts |
6003459 |
13,35,213 |
|
|
NRI – Repat |
1335213 |
8,40,575 |
|
|
NRI – Non- Repat |
840575 |
2,788 |
|
|
Foreign Individuals |
2788 |
984 |
|
|
Overseas corporate bodies |
984 |
56,338 |
|
|
Foreign Bodies |
56338 |
6,02,60,592 |
|
|
Sub Total B3 |
60260592 |
54,67,83,408 |
|
|
B=B1+B2+B3 |
546783408 |
91253 |
BUSINESS DETAILS
|
Line of Business : |
The engaged in the business of media and entertainment. · Broadcasting of Satellite Television Channels; · Space Selling agent for other satellite television channels; · Sale of Media Content i.e. programs / film rights / feeds / music rights. (Registered Activity) |
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Products / Services
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1931 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
M G B and Company LLP Chartered Accountants |
|
Address : |
Penisula Business Park, Tower B, 19th Floor, Lower Parel,
Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-61246124 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Companies: |
Wholly owned (Direct and indirect
subsidiaries) · Sarthak Entertainment Private Limited; · Taj Television (India) Private Limited · Asia Multimedia Distribution Inc.; · Zee Unimedia Limited · ATL Media Ltd (Formerly Asia Today Limited); · Asia TV Limited · ATL Media FZ-LLC; · Eevee Multimedia Inc · Essel Vision Productions Limited; · Expand Fast Holdings (Singapore) Pte. Limited; · Zee CIS LLC; · Zee CIS Holding LLC · Taj TV Limited · Asia Today Limited (Formerly Zee Multimedia (Maurice) Limited · Zee Multimedia Worldwide (Mauritius) Limited · Zee Digital Convergence Limited (Formerly Zee Sports Limited); · Zee Technologies (Guangzhou) Limited · Zee Entertainment Middle East FZ-LLC · Zee TV South Africa (Proprietary) Limited · Zee TV USA Inc · Asia Today Singapore Pte Limited · Asia TV USA Limited · Z5X Global FZ-LLC · Zee Studios International Limited · Asia TV Gmbh |
|
|
|
|
Other subsidiaries: |
· Zee Turner Limited · 74%),Zee Radio Network Middle East FZ-LLC |
|
|
|
|
Associates: |
· Aplab Limited (extent of holding 26.42%) · Asia Today Thailand Limited (Held through Asia Today Singapore Pte Limited) (extent of holding 25%) · Fly by Wire International Private Limited (extent of holding 49% w.e.f. 7 May 2016) |
|
|
|
|
Joint Venture: |
· Media Pro Enterprise India Private Limited (held through Zee Turner Limited) (extent of holding 50%) · India Webportal Private Limited (extent of holding 51%) · Idea Shop Web and Media Private Limited (held through India Webportal Private Limited) (extent of holding 26.04% ) |
|
|
|
|
Other Related
parties with whom transactions have taken place during the year and balance
outstanding as on the last day of the year: |
·
Axom Communication and Cable Private
Limited · Procall Infra and Utilities Private Limited (Formerly Agrani Wireless Services Limited) · Bombay Mobile Softwares Private Limited · Broadcast Audience Research Council · Cyquator Media Services Private Limited · Digital Subscriber Management and Consultancy Services Private Limited Diligent Media Corporation Limited; Dish Infra Services Private Limited · Dish TV India Limited · Essel Business Excellence Services Limited · Essel Propack Limited · Essel Corporate Resources Private Limited · Essel Finance Business Loans Limited · Essel Finance Management LLP · Essel InfraProjects Limited · Essel Shyam Communication Private Limited · Essel Solar Energy Private Limited · Himgiri Zee University · Indian Cablenet Company Limited · Intrex India Limited · ITZ Cash Card Limited · Living Entertainment Enterprises Private Limited · Master Channel Community Network Private Limited · Pan India Network Infravest Private Limited · Pan India Network Limited · Pri Media Services Private Limited · Real Media FZ-LLC · Siti Cable Network Limited · Siti Guntur Network Private Limited · Siti Jai Maa Durgee Communication Private Limited · Siti Jind Digital Media Communications Private Limited · Siti Karnal Digital Media Network Private Limited · Siti Maurya Cable Net Private Limited · Siti Vision Digital Media Private Limited · Siti Bhatia Network Entertainment Private Limited · Smart Wireless Private Limited; Tapasvi Mercantile Private Limited · Veria International Limited · Zee Akash News Private Limited · Zee Learn Limited · Zee Media Corporation Limited ·
Zee Foundation. |
CAPITAL STRUCTURE
AFTER AS ON
12.07.2017
Authorised Capital : INR 23000.000 Million
Issued, Subscribed & Paid-up Capital : INR 21169.368
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000,000 |
Equity Shares |
INR 1/- each |
INR 2000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
960,448,720 |
Equity Shares |
INR 1/- each |
INR 960.000 Million |
|
|
|
|
|
Reconciliation of
the number of shares
|
Equity Shares |
Number
of Shares |
Amount
|
|
At the beginning of the year |
960,448,720 |
960.000 |
|
Outstanding at the end of the year |
960,448,720 |
960.000 |
Terms / Rights Attached
to Equity Shares
The Company has only one class of equity shares having a par value of INR 1 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The final dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders
Details of Aggregate
Number of Bonus Shares Issued, Shares Issued For Consideration Other Than Cash
And Shares Bought Back During Five Years Preceding 31 March, 2017
|
Equity Shares |
31.03.2017 |
|
Equity Shares bought back and cancelled |
24,185,210 |
Details of Equity
Shareholders Holding More Than 5 % of The Aggregate Equity Shares
|
Name
of Shareholder |
Number of Shares |
%
holding |
|
Cyquator Media Services
Private Limited |
241,402,908 |
25.13% |
|
Essel Media Ventures Limited |
102,888,286 |
10.71% |
|
Oppenheimer Developing Markets
Fund |
65,978,899 |
6.87% |
As per the records of the Company, including its register of shareholders / members and other declaration received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
960.000 |
960.000 |
960.000 |
|
(b) Redeemable preference
shares |
15262.000 |
17140.000 |
20192.000 |
|
(c) Reserves &
Surplus |
43256.000 |
35119.000 |
24723.000 |
|
(d) 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) |
59478.000 |
53219.000 |
45875.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
8.000 |
9.000 |
12.000 |
|
(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 |
441.000 |
411.000 |
394.000 |
|
Total Non-current
Liabilities (3) |
449.000 |
420.000 |
406.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
4406.000 |
3173.000 |
2236.000 |
|
(c) Other current
liabilities |
10064.000 |
5096.000 |
3115.000 |
|
(d) Short-term provisions |
26.000 |
27.000 |
4351.000 |
|
Total Current Liabilities
(4) |
14496.000 |
8296.000 |
9702.000 |
|
|
|
|
|
|
TOTAL |
74423.000 |
61935.000 |
55983.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2833.000 |
2834.000 |
2661.000 |
|
(ii) Intangible Assets |
173.000 |
207.000 |
274.000 |
|
(iii) Capital
work-in-progress |
987.000 |
463.000 |
879.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
12422.000 |
18812.000 |
6593.000 |
|
(c) Deferred tax assets
(net) |
452.000 |
325.000 |
266.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
6652.000 |
|
(e) Other Non-current
assets |
4202.000 |
4020.000 |
2.000 |
|
Total Non-Current Assets |
21069.000 |
26661.000 |
17327.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
15029.000 |
3400.000 |
4495.000 |
|
(b) Inventories |
15722.000 |
13366.000 |
12071.000 |
|
(c) Trade receivables |
9801.000 |
9539.000 |
8318.000 |
|
(d) Cash and cash
equivalents |
5431.000 |
3851.000 |
3012.000 |
|
(e) Short-term loans and
advances |
1542.000 |
1750.000 |
10246.000 |
|
(f) Other current assets |
5829.000 |
3368.000 |
514.000 |
|
Total Current Assets |
53354.000 |
35274.000 |
38656.000 |
|
|
|
|
|
|
TOTAL |
74423.000 |
61935.000 |
55983.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
49284.000 |
42065.000 |
34262.000 |
|
|
Other Income |
3471.000 |
2260.000 |
2273.000 |
|
|
TOTAL |
52755.000 |
44325.000 |
36535.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
19959.000 |
18298.000 |
13498.000 |
|
|
Employees benefits
expense |
2971.000 |
3106.000 |
0.000 |
|
|
fair value |
2189.000 |
609.000 |
2816.000 |
|
|
exceptional item |
(470.000) |
0.000 |
0.000 |
|
|
Other expenses |
9115.000 |
8928.000 |
7501.000 |
|
|
TOTAL |
33764.000 |
30941.000 |
23815.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
18991.000 |
13384.000 |
12720.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1264.000 |
1486.000 |
18.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
17727.000 |
11898.000 |
12702.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
771.000 |
599.000 |
580.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
16956.000 |
11299.000 |
12122.000 |
|
|
|
|
|
|
|
Less |
TAX |
6616.000 |
4717.000 |
3804.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
10340.000 |
6582.000 |
8318.000 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
1731.000 |
|
|
Freight |
0.000 |
0.000 |
301.000 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
2032.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
174.000 |
|
|
Components and Stores
parts |
0.000 |
0.000 |
18.000 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
192.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
10.77 |
6.85 |
7.15 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
7.000 |
9.000 |
10.000 |
|
Cash generated from operations |
14672.000 |
10593.000 |
10198.000 |
|
Net cash flow from (used in) operations |
8864.000 |
5498.000 |
6623.000 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2st
Quarter |
3st
Quarter |
|
Net sales |
13025.700 |
13514.700 |
15529.400 |
|
Total Expenditure |
8403.100 |
8502.000 |
9864.800 |
|
PBIDT (Excluding Other Income) |
4622.600 |
5012.700 |
5664.600 |
|
Other income |
3823.000 |
570.400 |
445.200 |
|
Operating Profit |
8445.600 |
5583.100 |
6109.800 |
|
Interest |
143.000 |
(16.500) |
13.900 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
8302.600 |
5599.600 |
6095.900 |
|
Depreciation |
210.900 |
235.500 |
295.300 |
|
Profit Before Tax |
8091.700 |
5364.100 |
5800.600 |
|
Tax |
2326.500 |
1893.700 |
2148.700 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
5765.200 |
3470.400 |
3651.900 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
5765.200 |
3470.400 |
3651.900 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
72.59 |
82.77 |
88.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.03 |
4.41 |
4.12 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
80.57 |
63.29 |
60.46 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.21 |
1.00 |
1.05 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
4.76 |
3.82 |
3.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.19 |
0.13 |
0.17 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.24 |
0.16 |
0.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.07 |
0.07 |
0.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
15.02 |
9.01 |
706.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
20.98 |
15.65 |
24.28 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
13.89 |
10.63 |
14.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.38 |
12.37 |
18.13 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.68 |
4.25 |
3.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.60 |
2.64 |
2.74 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.80 |
0.86 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.02 |
0.02 |
0.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.68 |
4.25 |
3.98 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1/- |
|
Market Value |
INR 586.40/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
960.000 |
960.000 |
960.000 |
|
Reserves & Surplus |
24723.000 |
35119.000 |
43256.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
25683.000 |
36079.000 |
44216.000 |
|
|
|
|
|
|
long-term borrowings |
12.000 |
9.000 |
8.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long term debt |
10.000 |
9.000 |
7.000 |
|
Total borrowings |
22.000 |
18.000 |
15.000 |
|
Debt/Equity ratio |
0.001 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
34262.000 |
42065.000 |
49284.000 |
|
|
|
22.775 |
17.162 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
34262.000 |
42065.000 |
49284.000 |
|
Profit/(Loss) |
8318.000 |
6582.000 |
10340.000 |
|
|
24.28% |
15.65% |
20.98% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
960.000 |
960.000 |
|
(b) Reserves &
Surplus |
|
65607.000 |
47079.000 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
NON CONTROLING |
|
10.000 |
22.000 |
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
66577.000 |
48061.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
15273.000 |
17149.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
304.000 |
|
(d) long-term provisions |
|
767.000 |
534.000 |
|
Total Non-current
Liabilities (3) |
|
16040.000 |
17987.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
4891.000 |
4768.000 |
|
(c) Other current
liabilities |
|
12770.000 |
8766.000 |
|
(d) Short-term provisions |
|
89.000 |
77.000 |
|
Total Current Liabilities
(4) |
|
17750.000 |
13611.000 |
|
|
|
|
|
|
TOTAL |
|
100367.000 |
79659.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
7707.000 |
12835.000 |
|
(ii) Intangible Assets |
|
457.000 |
491.000 |
|
(iii) Capital
work-in-progress |
|
1270.000 |
1104.000 |
|
(iv) Intangible assets
under development |
|
287.000 |
0.000 |
|
(b) Non-current
Investments |
|
2713.000 |
3886.000 |
|
(c) Deferred tax assets
(net) |
|
903.000 |
648.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
6089.000 |
6461.000 |
|
Total Non-Current Assets |
|
19426.000 |
25425.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
11868.000 |
7592.000 |
|
(b) Inventories |
|
16843.000 |
13180.000 |
|
(c) Trade receivables |
|
13059.000 |
13482.000 |
|
(d) Cash and cash
equivalents |
|
26133.000 |
9631.000 |
|
(e) Short-term loans and
advances |
|
1542.000 |
1750.000 |
|
(f) Other current assets |
|
11496.000 |
8599.000 |
|
Total Current Assets |
|
80941.000 |
54234.000 |
|
|
|
|
|
|
TOTAL |
|
100367.000 |
79659.000 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
64342.000 |
58125.000 |
|
|
Other Income |
|
2240.000 |
1951.000 |
|
|
TOTAL |
|
66582.000 |
60076.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
27825.000 |
25984.000 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
0.000 |
0.000 |
|
|
Employees benefits
expense |
|
6043.000 |
4986.000 |
|
|
fair value |
|
2205.000 |
673.000 |
|
|
exceptional item |
|
(12234.000) |
330.000 |
|
|
share of profit |
|
5.000 |
(19.000) |
|
|
Other expenses |
|
11205.000 |
12019.000 |
|
|
TOTAL |
|
35049.000 |
43973.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
31533.000 |
16103.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
1372.000 |
1598.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
30161.000 |
14505.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1152.000 |
777.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
29009.000 |
13728.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
6804.000 |
5491.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
22205.000 |
8237.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
23.13 |
8.57 |
Legal
case
|
Bench:- Bombay |
||||||||
|
Presentation:- 20.02.2018 |
||||||||
|
Lodging No:- |
COMAPL/88/2018 |
Failing Date:- |
20.02.2018 |
Reg. No.:- |
-- |
Reg. Date:- |
-- |
|
|
Main Matter |
||||||||
|
Petitioner:- |
BASE INDUSTRIES GROUP AND ANR |
Respondent:- |
ZEE ENTERTAINMENT ENTERPRISES LIMITED |
|||||
|
Petn.Adv:- |
PRAVIN DESAI |
|||||||
|
District:- |
MUMBAI |
|||||||
|
Bench:- |
DIVISION |
Category: |
APPEALS ARISING OUT OF ORDERS PASSED COMMERCIAL SUITS PERTAINING TO JOINT VENTURE |
|||||
|
Status:- |
Pre-Admission |
Stage:- |
NOTICE OF MOTION
FOR HEARING |
|||||
|
Last Date:- |
08.03.2018 |
|||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE G.S PATEL |
|||||||
|
Act:- |
Copy Right Act |
|||||||
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY PROFILE
Zee Entertainment Enterprises Limited (ZEE) (BSE Code: 505537, NSE Code:
ZEEL.EQ) is one of India’s largest vertically integrated media and
entertainment company. The Company was formed in 1982. ZEE was the first
company to launch a satellite channel in India and from being a single channel
in a single geography, today operates multiple channels across multiple
geographies in different languages and genres. The Company’s programming reaches
out to over 1 billion viewers across 171 countries
CORPORATE INFORMATION
Zee Entertainment Enterprises Limited (“ZEEL” or “the Company”) is incorporated in the State of Maharashtra, India and is listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India. The registered office of the Company is 18th floor, A Wing, Marathon Futurex, N.M.Joshi Marg, Mumbai 400013, India. The Company is mainly in the following businesses Broadcasting of Satellite Television Channels; Space Selling agent for other satellite television channels Sale of Media Content i.e. programs / film rights / feeds / music rights
BUSINESS OVERVIEW
During fiscal 2017, The Company witnessed yet another strong year of performance despite the uncertain macro-environment, reflecting the inherent strength of our business portfolio and continued to perform well in domestic markets while expanding our international reach. FY2017 turned out to be an eventful year with the Government’s decision to demonetize high value currency during November 2016. However Indian economy proved to be resilient with GDP growth being marginally impacted despite the high magnitude of the event. This had an adverse impact on the Indian Television Media industry which registered a growth of 8.5%. Revenues for the industry increased from ` 542 billion in 2015 to ` 588 billion in 2016. That said, industry report by FICCI-KPMG expects growth to bounce back in 2017 and deliver a consistent 15% CAGR for Television Media industry during 2016-2021. With the inclusion of rural data, BARC ratings system has provided deep insights into the vast
rural viewership patterns. Further, BARC is under the process to include digital viewership which would enhance transparency and help advertisers to manage their campaigns effectively. The roll out of digitisation process in Phase III cities has largely been completed and given the geographical spread, it seems, Phase IV completion will take longer despite the deadline of March-17. While the TRAI released its regulations for interconnection fees, implementation of the same is uncertain given the pending litigations. The Company has published pricing for the channels and bouquets and is confident of driving subscription business growth.
The Company’s flagship channel, Zee TV was ranked third in the Hindi GEC space during the year with shows like Kumkum Bhagya, Mehek and Piya Albela being among the top-2 shows in their primetime slots. Further SRGMP Lil Champs became the biggest non-fiction launch in FY17 in the Hindi GEC space. While Zee TV saw some decline in viewership during the year, remedial measures were taken, early results whereof were visible during the end of the fiscal year with improvement in Zee TV’s ratings.
The Company’s Hindi GEC, &TV has completed two years and has performed well in the cluttered GEC space. Its shows Bhabhiji Ghar Pe Hain and Jai Santoshi Maa continued to Zee Anmol, The Company’s Free To Air (FTA) channel, which airs popular shows from ZEE’s content library was the No. 1 channel among the FTA channels during FY2017.
Movie channels’ cluster strengthened its movie library and continued to lead the Hindi Movie genre viewership ratings with some of the Bollywood’s biggest blockbusters like Tanu Weds Manu Returns, Nh10, Singh is Bling etc being premiered during the year.
The regional entertainment channels continued their strong growth in respective markets. Zee Marathi continues to maintain leadership in all the primetime slots and had more than 50% market share during the year. Zee Bangla continued to be a strong No. 2 player in the Bangla GEC space with strong leadership in the non-fiction genre, driven by shows like Dadagiri Unlimited and Didi No 1.
Zee Kannada captured market share to become No 2 in the Karnataka market with the addition of top performing fiction shows like Naagini, Ganga and Mahadevi and non-fiction shows like Weekend with Ramesh and Sa Re Ga Ma Pa. Zee Telugu also increased its market share with a strong performance in the urban market and the channel was at the No 1 position in the urban market on the back of shows like Mudda Mandaram, Varudhini Parinayam and Mangama Gari Manavaralu.
Sarthak TV, the latest addition to the Company’s bouquet of regional offerings was the clear No 1 in Odiya GEC genre with well over half the market share and a strong leader in fiction as well as non-fiction categories.
The English language entertainment offerings - Zee Café and Zee Studio continue to perform well in their respective genres and continue to strengthen the network subscription bouquet. Zee Café is one of the leading players in the English GEC category and has the telecast rights to the latest series programming of America’s leading TV shows like The Big Bang Theory, House of Cards, Pretty Little Liars etc. Zee Studio which shows the latest blockbusters from the Hollywood catalogue, was true to its ideology of “See it All” premiering movies like The Last Knight, Eden etc.
The Sports channels portfolio was rebranded as TEN 1, TEN 2, TEN 3, TEN 1 HD and TEN Golf HD during the year to offer seamless viewing experience to the consumers. With telecast rights to 5 of the 10 cricket boards which ensure coverage of cricket of all test playing countries, the Company’s sports channels continue to enthrall viewers across the country. Besides Cricket, the sports network offers it viewers the best action from other sports with events like UEFA Champions League, UEFA Europa League, WTA Tennis, Tour de France, WWE etc among others.
The Company expanded its digital footprints with the launch of OZEE - a one stop destination for all the content produced by ZEE, giving consumers the convenience of catching up on their favorite shows on one platform.
The Company’s focus on expansion in International markets continued, with several deals signed during the year enhancing the penetration of ZEE network channels in international territories. The major highlights for the year include:
Launch of Zee Magic in Africa. Zee Magic is the first French GEC, offering Indian contents to target French mainstream markets in Francophone Africa; &TV consistently featured in the Top 10 South Asian Channels in the United Kingdom; &TV was also launched in the MENAP market;
Zee TV was the No 1 channel and Zee Cinema was the No 2 channel among South Asian expats in their respective genres in the UAE;
Zee Aflam consolidated its position as the top Bollywood channel catering to Arabic audiences.
INDIA OPERATIONS
During the year , the Company transferred its Ditto TV and Digital Business to a wholly owned subsidiary viz Zee Sports Limited, which changed its name subsequently to Zee Digital Convergence Limited. Additionally, the Company acquired 100% equity stake in Sarthak Entertainment Private Limited, a Company engaged in the business of broadcasting of ‘Sarthak’ a leading Odiya language general entertainment channel. India Webportal Private Limited, a 51% subsidiary of the Company, increased its equity stake in Idea Shop Web And Media Private Limited (Idea Shop) from 38.61% to 51.04% and therefore Idea Shop, a Company engaged in the business of managing an online lifestyle portal (www.brownpaperbag.in), became a step down subsidiary of the Company as at March 31, 2016. Consequent to aforesaid acquisitions, for carrying out domestic operations as at March 31, 2016 the Company had 7 Indian Subsidiaries as against 5 as at March 31, 2015.
Apart from above, no other Subsidiary / Joint-venture was formed or divested during the financial year 2015-16. In compliance with Section 129 of the Act, a statement containing requisite details including financial highlights of the operation of all the subsidiaries in Form AOC-1 is annexed to this report.
In March 2016, the Board had approved acquisition of 100% equity stake in a company called Fly By Wire International Private Limited., (FBW) which is engaged in providing Aircraft Charter services and owns one Bombardier Challenger 605 Aircraft. As on the date of this report, the Company has acquired 49% equity stake in FBW and balance 51% equity stake in FBW shall be acquired by the Company upon receipt of regulatory approvals.
Further with a view to create an Integrated Sales Organization which shall engage in advertisement sales agency business across genres and/or platforms, on April 1, 2016 the Company had acquired 100% stake in Zee Unimedia Limited and effective April 1, 2016 the ad-sales operations of the Company stand transferred to this subsidiary on an agency commission basis.
The Company has prepared the Consolidated Financial Statements in accordance with Section 129(3) of the Companies Act 2013 read with Accounting Standard AS 21 (Consolidated Financial Statements), AS 23 (Accounting for Investments in Associates) and AS 27 (Financial Reporting of Interest in Joint Ventures).
In accordance with Section 136 of the Companies Act, 2013, the audited financial statements including the consolidated financial statements and related information of the Company and audited accounts of each of the subsidiaries are available on the website of the Company www.zeetelevision.com. These documents will also be available for inspection during business hours at the Registered Office of the Company.
MANAGEMENT DISCUSSION AND ANALYSIS
INDIAN MACROECONOMIC SCENARIO
India is one of the few shining spots on an otherwise gloomy global economic map. While most of the global economies did not fare well in the past year, the process of economic recovery in India continued with the GDP growth being one of the highest in the world.
Renewed industrial activity, sustained low crude oil prices, favorable business sentiments, easing interest rates have spurred the economic growth. The government’s promise to stick to the fiscal deficit target for the current year and reduce it for the next year bodes well for the Indian economy. Indian GDP grew at 7.3% for FY16 and is projected to grow at 7.5% in the next fiscal year.
MEDIA AND
ENTERTAINMENT INDUSTRY
The Media and Entertainment Industry is a key growth driver for the
Indian economy. According to the FICCI-KPMG Report 2016, the sector witnessed
12.8% growth in 2015 growing from INR 1,026 billion in 2014 to INR 1,157
billion in 2015. The industry is expected to grow to INR 2,260 billion by 2020
at a CAGR of 14.3% during 2015-2020, which is more than double the rate of
growth of global M&E Industry.
Total advertising spend across different media verticals was INR 475
billion in 2015 contributing to 41% of the total Media and Entertainment
industry revenues. Fueled by the continued economic growth, advertising
revenues saw a growth of 14.7% in 2015. Currently, advertising revenue in India
contributes less than 0.5% of the GDP, compared to the average 1% contribution
across most developed economies. It is expected that advertising will
increasingly contribute a higher share to the GDP in the coming years and is
projected to double to INR 994 billion by 2020 growing at a CAGR of 16% during
2015-2020.
In 2015, subscription revenues grew at annualized growth rate 11.4%,
from INR 612 billion in 2014 to INR 682 billion in 2015. With the effects of
cable digitization yet to show impact, the subscription revenue is expected to
grow to INR 1,266 billion by 2020 at a CAGR of 13.2% during 2015-2020.
TELEVISION
Television forms the core of the Indian M&E Industry contributing to
around 47% of the overall revenue of the industry. Television sector grew from
INR 475 billion in 2014 to INR 542 billion in 2015, registering a growth of
14%. The growth was driven by a strong 17% rise in advertising spend. The
sector is projected to more than double its revenues to INR 1098 billion by
2020 growing at a CAGR of 15% for 2015-2020. (Source: FICCI-KPMG Indian Media
and Entertainment Industry Report 2016).
FY16 saw the commencement of digitization of DAS III cities.
Digitization is expected to give the consumer better control in terms of the
subscription choices. It will also lead to increase in the ARPU and
subsequently increase in broadcasters’ share of subscription revenues.
Another major milestone for the television industry was the launch of
new TV audience measurement system from BARC(Broadcast Audience Research
Council) India in April 2015. BARC has started with a sample size of 22,000
homes and will gradually increase it to 50,000 over the next few years further
improving the quality of data. The data was rolled out in phase wise manner
with the launch of rural data in October 2015 completing the process. Inclusion
of rural ratings has given the broadcasters as well as the advertiser insights
into the hitherto unknown rural market.
FILMS
The Film sector grew by 9.3% to INR 138 billion in 2015 from INR 126
billion in 2014, mainly driven by Regional and Hollywood cinema. Growth of
Regional and Hollywood content points to the trend of audience appreciating the
quality of the content irrespective of the language.
India is still under penetrated in terms of screens which means there is
a huge scope of growth for the film industry. With the proliferation of
multiplex screens coupled with technology to conveniently book tickets the
footfalls are expected to increase. Growing popularity of VOD services has
opened up a new revenue stream for films. The Film sector is projected to grow
to INR 227 billion by the end of 2020 at a CAGR of 10.5% for 2015-2020.
Essel Vision, ZEE’s content production and distribution arm produced its
first Hindi Movie, ‘Jazbaa’ which was the comeback movie of Aishwarya Rai. The
company also produced and distributed a number of blockbuster and hit Marathi
movies like ‘Natsamrat’, ‘Katyar Kaljat Ghusli’, ‘Double Seat’, ‘Killa’ and
‘Timepass 2’ last year.
MUSIC
Music industry grew by 10% % to INR 10.8 billion in 2015 compared to INR
9.8 billion in 2014. More than 55% of the music industry revenue comes from the
digital platforms with music streaming services catching the imagination of
Indian consumer. The music industry is projected to grow to INR 20.6 billion by
the end of 2020 at a CAGR of 13.8% from 2015-2020.
ZEE Music Company, the music production arm of ZEEL has in a short time
become one of the leading music producers in the country. The company boasts a
wide catalogue of Hindi and regional music like Singh is Bliing, Drishyam,
Bahubali, Bang Bang, Bombay Velvet etc.
DIGITAL
The consumption of content on digital platforms has been increasing
gradually. Digital advertising grew 38% compared to 2014 to reach INR 60
billion. It is expected that digital advertising will continue its strong growth
and will grow to INR 255 billion by 2020 at a CAGR of 33.5% for 2015-2020.
Digital advertising is projected to double its share and will contribute over a
quarter of the revenue of the total advertising revenue. Currently non video
advertising contributes to three quarters of the share of digital advertising
revenue.
India lags the rest of the world in terms of content consumption on the
internet due to bandwidth constraints and high data charges. Most of the
internet expansion in India will be led by mobile connectivity. The trend of
content consumption on the small screen will increase gradually as the
smartphone penetration increases and is expected to be complement TV viewing.
Realizing that the digital medium is going to be a frontier of growth in
future, the company launched OZEE last year in addition to existing DittoTV.
While DittoTV is a SVOD platform which offers content from ZEE and other
broadcasters, OZEE is an AVOD one stop destination for all ZEE content. Both
the platforms have managed to find traction in the crowded OTT space. The
company has also started producing content exclusively for these platforms
which will find resonance with the digital consumers..
UNSECURED LOAN:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Redeemable Non-Convertible Preference Shares |
19077.000 |
17140.000 |
|
Less : Amount disclosed under the head "Other financial liabilities |
(3815.000) |
0.000 |
|
Total |
15262.000 |
17140.000 |
Terms / rights
attached to Preference Shares
6% Cumulative
Redeemable Non-Convertible Preference Shares - Quoted
The Company will redeem at par value, 20% of the total Bonus Preference Shares allotted, every year from the fourth anniversary of the date of allotment. The Company shall have an option to buy back the Bonus Preference Shares fully or in parts at an earlier date(s) as may be decided by the Board. Further, if on any anniversary of the date of allotment beginning from the fourth anniversary, the total number of Bonus Preference Shares bought back and redeemed cumulatively is in excess of the cumulative Bonus Preference Shares required to be redeemed till the said anniversary, then there will be no redemption on that anniversary. At the 8th anniversary of the date of allotment, all the remaining and outstanding Bonus Preference Shares shall
be redeemed by the Company.
The holders of Bonus Preference Shares shall have a right to vote only on resolutions which directly affect their rights. The holders of Bonus Preference Shares shall also have a right to vote on every resolution placed before the Company at any meeting of the equity shareholders if dividend or any part of the dividend has remained unpaid on the said Bonus Preference Shares for an aggregate period of atleast two years preceding the date of the meeting.
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED 31 DECEMBER
2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine Month ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
||
|
Income from
Operations |
|
|
|
|
Net Sales / Income from Operations |
15529.400 |
13514.700 |
42069.800 |
|
Other income |
445.2001 |
570.400 |
4838.600 |
|
Total Income from
Operations |
15974.600 |
14085.100 |
46908.400 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Operating Cost |
5461.800 |
4854.500 |
15107.100 |
|
Employee benefits expense |
781.500 |
740.100 |
2340.700 |
|
Finance cost |
13.900 |
(16.500) |
140.400 |
|
Depreciation and amortisation expense |
295.300 |
235.500 |
741.700 |
|
Advertisement and Publicity Expenses |
1258.600 |
1096.000 |
3348.200 |
|
Other Expenses |
1925.300 |
1724.700 |
5266.800 |
|
Fair
value through profit and loss account |
437.600 |
86.700 |
707.100 |
|
Total Expense |
10174.000 |
8721.000 |
27652.000 |
|
|
|
|
|
|
Profit/ (Loss) from Operations before other income,
Interest, finance costs (1-2) |
5800.600 |
5364.100 |
19256.400 |
|
|
|
|
|
|
Tax expenses |
|
|
|
|
Current Tax |
2458.100 |
1726.600 |
6532.100 |
|
Deferred Tax |
(7.600) |
0.000 |
(7.600) |
|
Total Tax expenses |
(301.800) |
167.100 |
(155.600) |
|
Net Profit/ (Loss) for the period (7-8) |
3651.900 |
3470.400 |
12887.500 |
|
Other
Comprehensive Income |
|
|
|
|
Re-measurement
of defined |
9.300 |
10.100 |
28.000 |
|
Fair
value |
79.500 |
11.900 |
105.600 |
|
Income
tax relating |
(3.200) |
(3.500) |
(9.700) |
|
Total Comprehensive Income [9+10] |
3737.500 |
3488.900 |
13011.400 |
|
Paid
- up Equity Share Capital (Face
value of INR 1/- each) |
960.400 |
960.400 |
960.400 |
|
Earnings per share (not annualised) Basic and Diluted |
3.80 |
3.61 |
13.42 |
|
Earnings per Share (EPS) - INR |
3.80 |
3.61 |
13.42 |
Note:
The unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of DirectoINR in their respective meetings held on 17 January, 2018. These results have been subjected to a Limited Review carried out by the Statutory AuditoINR.
2. The unaudited standalone financial results have been prepared in accordance
with Indian Accounting Standards (Ind AS), the provisions of the Companies Act,
2013 (the Act), as applicable and guidelines issued by the Securities and Exchange
Board of India (SEBI).
3. During the year ended 31 March, 2017, the Company had disposed of its entire
equity stake held in Taj Television (India) Private Limited, resulting in a net
gain of INR. 4,70.200 Million in the standalone financial results.
4. The Company operates in a single reporting segment namely 'Content and
Broadcasting'.
5. Other income in the unaudited standalone financial results for the nine
months ended 31 December, 2017 includes dividend income of INR. 3325.000
Million (previous period INR. 1300.000 Million) on equity shares held in
subsidiary companies.
6. During the nine months ended 31 December, 2017, the Company has made
investments and acquired stake in the following
- 80% equity stake in Margo Networks Private Limited at an investment value of
INR 7,50.000 Million, making it a subsidiary of the Company;
- 12.50% stake (on a fully-diluted basis) in Tagos Design Innovations Private
Limited at an investment value of INR 1,616 Million.
- 51% equity stake in Fly By Wire International Private Limited at an
investment value of INR. 140.000 Million, making it a wholly-owned subsidiary
of the Company on and from 14 July, 2017; and 49% equity stake in India
Webportal Private Limited at an investment value of INR. 1996.000 Million,
making it a wholly-owned subsidiary of the Company on and from 22 July, 2017
7. The Board of DirectoINR of the Company at their meeting held on 23 November,
2016 had approved the acquisition of the general entertainment television
broadcasting undertakings of Reliance Big Broadcasting Private Limited (RBBPL),
Big Magic Limited (BML) and Azalia Broadcast Private Limited (ABPL), through
demerger and vesting of said undertakings with the Company under a Composite
Scheme of Arrangement. The said Scheme has been approved by the Hon’ble
National Company Law Tribunal on 13 July, 2017 and the certified copy of the
Order approving the said Scheme has been filed with the Registrar of Companies
on 21 July, 2017. The Company has given effect to the aforesaid scheme in the
results for the nine months ended 31 December, 2017. The Company has also
issued and allotted 3,949,105 6% cumulative redeemable non-convertible unlisted
Preference Shares of INR 10/- each as consideration in accordance with the
Scheme. The appointed date of the said scheme was 31 March, 2017 and
accordingly, the figures for the year ended 31 March 2017 are restated.
Further, during the nine months ended 31 December, 2017, the Company has
reveINRed the provision for interest aggregating INR. 810 Million on loans
taken by the undertakings of BML and ABPL as the same is no longer payable as
per agreed terms.
8. Investments of the Company in Secured Non-convertible debenture of an entity
aggregating to INR. 16,729 Million (including interest) are outstanding and
overdue as at 31 December, 2017. The Company has initiated legal action in
terms of enforcing the security attached to the said debenture etc.
Accordingly, the outstanding amounts are considered good of recovery.
9. The Board of DirectoINR have approved a Composite Scheme of Arrangement and
Amalgamation (the Scheme) between the Company and its certain domestic
wholly-owned subsidiaries, inter alia, for (a) Demerger of Digital media and
entertainment business undertaking from Zee Digital Convergence Limited; (b)
Demerger of Advertisement sales for media business undertaking from Zee
Unimedia Limited; (c) Demerger of online media business undertaking from India
Webportal Private Limited, all vesting with the Company; and (d) Amalgamation of
Sarthak Entertainment Private Limited with the Company, with effect from
Appointed Date of 1 April, 2017.
Subsequently, the no-objection from the Stock Exchanges were received and a
joint application is filed by all the entities involved in the Scheme with the
Mumbai bench of Hon’ble National Company Law Tribunal. The accounting of the
Scheme will be effected on receiving the requisite approvals and completing
formalities thereof.
10. During the quarter ended 31 December, 2017, the Company has issued and
allotted 4,900 Equity shares upon conveINRion of Stock Options granted under
the Company’s ESOP Scheme. Consequent to this allotment the Paid-up Equity
share capital of the Company stands increased to 960,453,620 Equity Share of Re
1/- i.e. INR. 960,453,620.
11. The ShareholdeINR Agreement relating to acquisition of 100% equity stake in
9X Media Private Limited and INX Music Private Limited (the investee companies)
approved by the Board at their meeting held on 6 October, 2017, were amended to
extend the long-stop date to 31 January, 2018, to facilitate the investee
companies to comply with certain conditions precedent for conclusion of the
acquisition transaction.
12. The figures of the previous quarter/nine months/year are regrouped wherever
necessary to make them comparable to those of the current quarter/nine months.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B86412277 |
10184111 |
YES BANK LIMITED |
20/10/2009 |
16/09/2013 |
- |
500000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
2 |
B88445432 |
10020837 |
ING VYSYA BANK LIMITED |
22/09/2006 |
27/09/2013 |
- |
500000000.0 |
22, M G ROAD,BANGALOREBANGALOREKA560001IN |
|
3 |
C43458595 |
10196184 |
AXIS TRUSTEE SERVICES LIMITED |
29/12/2009 |
- |
10/02/2015 |
500000000.0 |
MAKER TOWERS 'F', 13TH FLOORCUFFE PARADE, COLABAMUMBAIMH400005IN |
|
4 |
B86405453 |
80049024 |
AXIS BANK |
15/09/2005 |
19/09/2008 |
12/09/2013 |
500000000.0 |
ATLANTA, GROUND FLOOR, 209,NARIMAN POINT,MUMBAIMH400021IN |
|
5 |
A83275230 |
10125672 |
AXIS BANK LIMITED |
29/09/2008 |
- |
15/04/2010 |
80000000.0 |
ROYAL ACCORD IV, LOKHANDWALA COMPLEX,ANDHERI (WEST)MUMBAIMH400053IN |
|
6 |
A76989839 |
10139622 |
AXIS BANK LIMITED |
05/01/2009 |
04/02/2009 |
31/12/2009 |
500000000.0 |
CENTRAL OFFICE, CAPITAL MARKETS DIV., MAKER TOWERSF WING, 11TH FLOOR, CUFFE PARADE, COLABAMUMBAIMH400005IN |
|
7 |
A41214628 |
90241724 |
IDBI BANK LTD |
10/01/2006 |
- |
25/06/2008 |
500000000.0 |
IDBI TOWERS WTC COMPLEX CUFFE PARADEMUMBAIMH400005IN |
|
8 |
A37955481 |
10005182 |
ICICI BANK LIMITED |
12/04/2006 |
- |
06/05/2008 |
3498600000.0 |
ICICI BANK TOWERBANDRA KURLA COMPLEX BANDRA EASTMUMBAIMH400051IN |
|
9 |
A21011580 |
80035743 |
UTI BANK LIMITED |
15/12/2004 |
- |
01/08/2007 |
500000000.0 |
NARIMAN POINT BRANCH,ATLANTA, NARIMAN POINTMUMBAIMH400021IN |
|
10 |
A13672837 |
90241603 |
ING VYSYA BANK LTD |
10/10/2005 |
- |
30/03/2007 |
600000000.0 |
WORLI BR POONAM CHAMBERS DR AB ROADMUMBAIMH400018IN |
FIXED ASSETS:
Tangible Assets
· Leasehold land
· Leasehold improvements
· Buildings
· Computers
· Plant and machinery
· Equipments
· Furniture and fixtures
· Aircraft
· Vehicles
Intangible assets
· Software
· Intangibles – Channels
· Trademark
PRESS RELEASE :
Zee Entertainment
completes acquisition of India Webportalv
JULY 24,2017
(ZEEL) today said it has completed acquisition of balance 49 per cent equity stake in its subsidiary India Webportal. Last month, ZEEL had announced it will acquire balance 49 per cent equity stake in India Webportal Pvt Ltd for USD 30.7 million (INR 1974.700) to consolidate its digital business.
The company has completed the requisite formalities and has acquired the balance 49 per cent equity stake in India Webportal Pvt Ltd (IWPL)...IWPL has become a wholly-owned subsidiary of the company,” ZEEL said in a BSE filing. India Webportal distributes media content on digital platforms through various websites including India.com, Bollywoodlife.com and Cricketcountry.com.
Shares of ZEEL were trading up 0.39 per cent at INR 556.60 on BSE in late morning trade.
Zee TV HD to launch
in the UK on 1 March
MUMBAI: Zee Entertainment Enterprises Limited (ZEEL) will be launching the HD variation of flagship channel, Zee TV in the UK on 1 March 2018, according to a report by Biz Asia. This will be the first HD channel under the ZEE brand in the UK market.
Zee TV HD will replace &TV HD, which will be discontinued. &TV will
continue to broadcast in SD. The broadcaster is planning to bring back &TV
HD later along with Zee Cinema HD.
Zee Entertainment
launches new video streaming platform Zee5
New Delhi: Television broadcaster Zee Entertainment Enterprises Ltd on Wednesday launched a new video streaming platform Zee5 to establish a stronger presence in the digital market for the next phase of growth. Zee5, which will subsume Zee’s existing video streaming platforms Ozee (advertising-based) and Ditto TV (subscription-based), comes with 1 lakh hours of content including exclusive originals, Indian and international movies and TV shows, music, live television, health and lifestyle videos in 12 regional languages.
“A new platform was created because the digital growth story is happening now. Video streaming platforms have been targeting younger audiences between 18 and 35 years of age but Zee5 caters to 12 languages across the country. We are going down to tier-II and tier-III cities with strong language content and not just focusing on metros and mini-metros,” said Amit Goenka, chief executive officer at Zee International and Z5 Global.
Zee5 has adopted a free plus premium pricing model with both free and paid content and will compete with the global players Netflix and Amazon Prime Video, broadcaster-owned platforms Hotstar and Voot, and SonyLIV and independent video-on-demand service providers like YuppTV, Hooq and Spuul. The premium content of the platform will be available to consumers at a monthly charge of Rs150 (the launch offer price is Rs99) and the existing 10 million users of OZee and Ditto TV will be upgraded to Zee5. So far, our digital platforms have been a very small part of our business. With 4G and data prices going down, the consumption of video is skyrocketed. Almost 57% of the overall data usage is video consumption. This is the right time to launch a platform with quality content,” added Goenka, without disclosing the revenue targets from Zee5.
“Talking about the numbers is not meaningful right now because Barc (Broadcast Audience Research Council, India) is yet to come out with the digital audience measurement system. Right now, the focus is on getting audiences and increasing consumption,” he said. TV ratings viewership agency Barc India’s digital media measurement products are due for launch later this year in a phased manner and will help advertisers make decisions with independent audience measurement data, which hasn’t been available so far. Zee’s move comes at a time when advertising on digital media is all set to command 18% of the overall advertising spends in 2018 (and will go up to 25% in three years), growing at a rate of 30%. Digital media advertising is expected to touch Rs12,337 crore in 2018, up from the estimated Rs9,490 crore in 2017, according to a report This Year Next Year (TYNY) released by WPP-owned media agency GroupM.
Zee, with interests in broadcasting, movies, music, digital, live entertainment and theatre businesses, has a presence in more than 173 countries and a reach of more than 1.3 billion people around the world. “The launch of Zee5 further strengthens us as a media and entertainment powerhouse. A blend of unrivalled content offering and robust technology is the foundation of this all-new digital offering from our end,” said Punit Goenka, managing director and chief executive officer at Zee Entertainment Enterprises Ltd, in a statement.
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 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NKTS |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.