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|
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%20LIMITED%20-%20500685_MIRA%2030-Mar-2018_files/image016.jpg)
%20LIMITED%20-%20500685_MIRA%2030-Mar-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
500685 |
|
Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ENTERTAINMENT NETWORK (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, A-Wing,Matulya Centre, Senapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, Maharashtra |
|
Tel. No.: |
91-22-66620600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
24.06.1999 |
|
|
|
|
Com. Reg. No.: |
11-120516 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 476.704 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L92140MH1999PLC120516 |
|
|
|
|
IEC No.: |
0301004340 |
|
|
|
|
TIN No.: |
27410339465 |
|
|
|
|
GST No.: |
27AAACE7796G1Z9 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE7796G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject’s principal revenue stream is advertising.
Advertising revenues are generated through the Sale of air time in the
Company’s FM Radio broadcasting Stations, Activations and Monetization of Company’s
digital and other media properties. [Registered Activity] |
|
|
|
|
No. of Employees
: |
1042. [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Entertainment Network (India) Limited is a step-down subsidiary of Bennett Coleman & Company Limited - the flagship company of the Times of India Group. It was incorporated in the year 1999.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Borrowing = AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
05.03.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Borrowing = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry low credit risk. |
|
Date |
05.03.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 30.03.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE [TEL NO.: 91-22-66620600/ 67536983]
LOCATIONS
|
Registered Office : |
4th Floor, Matulya Centre, Senapati Bapat Marg, Lower Parel
(West), Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66620600/ 67536983 |
|
Fax No.: |
91-22-66615030 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Trade Gardens, Ground Floor, Kamala Mills Compound, Senapati Bapat
Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-67536983 |
|
Fax No.: |
91-22-67536800 |
|
|
|
|
Studios : |
Located at: · Ahmedabad · Amritsar · Aurangabad · Bangalore · Bhopal · Chennai · Chandigarh · Coimbatore · Delhi · Guwahati · Hyderabad · Indore · Jabalpur · Jaipur · Jalandhar · Jodhpur · Kanpur · Kochi · Kolhapur · Kolkata · Lucknow · Madurai · Mangalore · Mumbai · Nagpur · Nashik · Panjim Goa · Patna · Patiala · Pune · Raipur · Rajkot · Shillong · Shimla · Surat · Trivandrum · Thiruvananthapuram · Vadodara · Varanasi · Vijaywada · Visakhapatnam |
DIRECTORS
AS ON: 30.08.2017
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Director |
|
Address : |
15, Moti Lal Nehru Marg New Delhi-110011, India |
|
Date of Birth/ Age : |
12.02.1966 |
|
Qualification : |
B. Sc. degree in International Business Administration in Marketing from Switzerland |
|
Date of Appointment : |
19.01.2007 |
|
DIN No.: |
00003962 |
|
|
|
|
Name : |
Mr. Narayanan Kumar |
|
Designation : |
Director |
|
Address : |
1 George Avenue, Chennai-600018, Tamilnadu, India |
|
Date of Birth/ Age : |
28.01.1950 |
|
Qualification : |
Engineering Graduate in Electronics and Communication from Anna University, Chennai. |
|
Date of Appointment : |
05.11.2005 |
|
DIN No.: |
00007848 |
|
|
|
|
Name : |
Mr. Ravindra Krishna Kulkarni |
|
Designation : |
Director |
|
Address : |
2, Samruddhi, Plot No.19, TPS VI Relief Road, Santacruz (West), Mumbai-400054, Maharashtra, India |
|
Date of Birth/ Age : |
23.05.1943 |
|
Qualification : |
Master’s degree in Law from University of Mumbai,
also holds a Bachelors degree in Science from University of Mumbai |
|
Date of Appointment : |
19.01.2007 |
|
DIN No.: |
00059367 |
|
|
|
|
Name : |
Mr. Richard Blaise Saldanha |
|
Designation : |
Director |
|
Address : |
24, Senor Valley Road No. 13 Jubillee Hills, Hyderabad-500033, Andhra Pradesh, India |
|
Date of Birth/ Age : |
03.02.1944 |
|
Qualification : |
Graduate Mechanical Engineer from College of Engineering- Pune |
|
Date of Appointment : |
23.11.2010 |
|
DIN No.: |
00189029 |
|
|
|
|
Name : |
Mr. Prashant Babulal Panday |
|
Designation : |
Managing Director and Chief Executive Officer |
|
Address : |
72 Le, Chateau, 15th Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/ Age : |
08.07.19656 |
|
Qualification : |
Post Graduate Diploma in Management from Indian Institute of Management, Bangalore and Degree of B.E. Electronics and Communication, Gujarat University |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
02747925 |
KEY EXECUTIVES
|
Name : |
Mr. Subramanian Narayanan |
|
Designation : |
Chief Finance Officer (KMP) |
|
Address : |
Flat No. 706, 7th Floor, Krushal Towers, 'C' Wing Next To Shopper's Stop, Ghatkopar (East), Mumbai-400089, Maharashtra, India |
|
Date of Appointment : |
23.05.2014 |
|
PAN No.: |
AFGPS5789H |
|
|
|
|
Name : |
Mr. Mehul Rasiklal Shah |
|
Designation : |
Company Secretary and SVP – Compliance |
|
Address : |
D1-601, Kesar CHSL, Charkop Market, Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Appointment : |
10.03.2008 |
|
PAN No.: |
AAEPS5424J |
|
|
|
|
MANAGEMENT TEAM |
|
|
Name : |
Mr. N. Subramanian |
|
Designation : |
Group Chief Financial Officer |
|
|
|
|
Name : |
Mr. Tapas Sen |
|
Designation : |
Chief Programming Officer |
|
|
|
|
Name : |
Mr. Mahesh Shetty |
|
Designation : |
Chief Operating Officer |
|
|
|
|
Name : |
Mr. Yatish Mehrishi |
|
Designation : |
Chief Revenue Officer |
|
|
|
|
Name : |
Mr. GG Jayanta |
|
Designation : |
EVP – Marketing |
|
|
|
|
Name : |
Mr. Rahul Balyan |
|
Designation : |
EVP – Digital |
|
|
|
|
Name : |
Mr. Kaizad Irani |
|
Designation : |
VP and Legal Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.12.2017
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957) As a % of (A+B+C2) |
|
(A) Promoter & Promoter Group |
33918400 |
71.15 |
|
(B) Public |
13752015 |
28.85 |
|
|
|
|
|
Total |
47670415 |
100.00 |
%20LIMITED%20-%20500685_MIRA%2030-Mar-2018_files/image020.gif)
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
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Any Other
(specify) |
33918400 |
71.15 |
|
|
BENNETT COLEMAN
AND COMPANY LIMITED |
33918400 |
71.15 |
|
|
Sub Total A1 |
33918400 |
71.15 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
33918400 |
71.15 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
3159710 |
6.63 |
|
|
ICICI PRUDENTIAL
BUSINESS CYCLE FUND SERIES 2 |
1015493 |
2.13 |
|
|
ADITYA BIRLA SUN
LIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUN LIFE BALANCED 95 FUND |
500000 |
1.05 |
|
|
FRANKLIN INDIA
SMALLER COMPANIES FUND |
484563 |
1.02 |
|
|
IDFC PREMIER
EQUITY FUND |
1034650 |
2.17 |
|
|
Alternate
Investment Funds |
86473 |
0.18 |
|
|
Foreign Portfolio
Investors |
5907577 |
12.39 |
|
|
ACACIA BANYAN
PARTNERS |
492400 |
1.03 |
|
|
PINEBRIDGE
INVESTMENTS GF MAURITIUS LIMITED |
1154135 |
2.42 |
|
|
AMANSA HOLDINGS
PRIVATE LIMITED |
482677 |
1.01 |
|
|
ACACIA PARTNERS,
LP |
960000 |
2.01 |
|
|
ACACIA
INSTITUTIONAL PARTNERS, LP |
780000 |
1.64 |
|
|
ACACIA
CONSERVATION FUND LP |
600000 |
1.26 |
|
|
Financial
Institutions/ Banks |
7977 |
0.02 |
|
|
Any Other
(specify) |
2897 |
0.01 |
|
|
BARCLAYS WEALTH
TRUSTEES INDIA PRIVATE LIMITED |
2897 |
0.01 |
|
|
Sub Total B1 |
9164634 |
19.22 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
1731395 |
3.63 |
|
|
Individual share
capital in excess of INR 0.200 Million |
993888 |
2.08 |
|
|
NBFCs registered
with RBI |
50 |
0.00 |
|
|
Any Other
(specify) |
1862048 |
3.91 |
|
|
Trusts |
263057 |
0.55 |
|
|
NRI |
36555 |
0.08 |
|
|
Clearing Members |
12733 |
0.03 |
|
|
NRI – Non- Repat |
141062 |
0.30 |
|
|
Bodies Corporate |
1408641 |
2.95 |
|
|
SBI LIFE INSURANCE
CO. LTD |
706157 |
1.48 |
|
|
Sub Total B3 |
4587381 |
9.62 |
|
|
B=B1+B2+B3 |
13752015 |
28.85 |
BUSINESS DETAILS
|
Line of Business : |
Subject’s principal revenue stream is advertising.
Advertising revenues are generated through the Sale of air time in the
Company’s FM Radio broadcasting Stations, Activations and Monetization of
Company’s digital and other media properties. [Registered Activity] |
|
|
|
|
Brand Names : |
· Radio Mirchi · Mirchi Love · Red FM, etc. |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Customers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
No. of Employees : |
1042 [Approximately] |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
HDFC Bank Limited |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Parties where
control exist : |
· Bennett, Coleman & Company Limited (BCCL) [Holding Company] · Times Infotainment Media Limited (TIML)* [the erstwhile Holding Company] Note: The Scheme of Amalgamation and Arrangement (‘Scheme’) of TIML (the erstwhile holding company of the Company) with BCCL (the holding Company of TIML) was filed under the Companies Act, 1956 was approved by Hon’ble Bombay High Court on July 3, 2015 and by the MIB on April 25, 2016. Consequently, TIML’s entire shareholding in the Company was transferred to BCCL, and BCCL is the sole promoter shareholder of the Company. The appointed date of the Scheme was April 1, 2013. |
|
|
|
|
Subsidiary Company: |
Alternate Brand Solutions (India) Limited (ABSL) * |
|
|
|
|
Fellow Subsidiary
Companies: |
· Mirchi Movies Limited (MML) · Times Innovative Media Limited (TIM) · TIM Delhi Airport Advertising Private Limited (TIMDA) · Times Global Broadcasting Company Limited (TGBCL)* · Times Internet Limited (TIL) # · Zoom Entertainment Network Limited (ZENL)* · Gamma Gaana Limited (GGL) · Metropolitan Media Company Limited (formerly Times VPL Limited) (MMCL) · Vardhaman Publishers Limited (VPL) · Junglee Pictures Limited (JPL) · Magic Bricks Reality Services Limited (MBRSL) · Brand Equity Treaties Limited (BETL) · Worldwide Media Private Limited (WWM) · Akuate Internet Services Private Limited (AISPL) · Times Centre for Learning Limited (TCLL)* · Times Business Solutions Limited (TBSL) # · Times Websol Limited (TWL) #* · Times Mobile Limited (TM)# |
|
|
|
|
Related Parties of
Ultimate Holding Company: |
· Bennett Property Holdings Company Limited (BPHCL) · Aegon Life Insurance Company Limited (ALIC) |
NOTES:
# Times Business Solutions
Limited (TBSL), Times Websol Limited (TWL) and Times Mobile Limited (TM) have
been merged into Times Internet Limited (TIL) in the previous year.
* There are no transactions during the year.
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
INR 10/- each |
INR 1200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47670415 |
Equity Shares |
INR 10/- each |
INR 476.704
Million |
|
|
|
|
|
Terms attached to equity shares
The Company has only one class of equity shares. Each shareholder is eligible for one vote per share held. The par value per share is INR 10. The Company declares dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing annual general meeting.
Shares held by Holding
company and Ultimate holding company
|
Particulars |
Shares (Nos.) |
|
Equity Shares of INR 10 each held by Bennett, Coleman & Company Limited, the Holding Company |
33918400 |
Details of shares held
by shareholders holding more than 5% of the aggregate shares in the company
|
Particulars |
Shares (Nos.) |
In % |
|
Bennett, Coleman & Company Limited, the Holding Company. |
33918400 |
71.16% |
FINANCIAL DATA
[all figures are
in 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 |
476.704 |
476.704 |
476.704 |
|
(b) Reserves & Surplus |
8069.958 |
7587.469 |
6563.578 |
|
(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) |
8546.662 |
8064.173 |
7040.282 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
99.104 |
59.603 |
0.000 |
|
(c)
Other long term liabilities |
89.176 |
72.354 |
71.103 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
188.280 |
131.957 |
71.103 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1231.909 |
2500.845 |
0.000 |
|
(b)
Trade payables |
1115.908 |
799.807 |
740.483 |
|
(c)
Other current liabilities |
269.670 |
302.965 |
278.512 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
2617.487 |
3603.617 |
1018.995 |
|
|
|
|
|
|
TOTAL |
11352.429 |
11799.747 |
8130.380 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
583.521 |
220.453 |
263.161 |
|
(ii)
Intangible Assets |
6551.452 |
3492.558 |
271.796 |
|
(iii)
Capital work-in-progress |
664.382 |
3566.369 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
80.529 |
489.971 |
1579.396 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
117.122 |
|
(d) Long-term Loan
and Advances |
188.177 |
177.355 |
176.753 |
|
(e)
Other Non-current assets |
94.872 |
208.986 |
4.076 |
|
Total
Non-Current Assets |
8162.933 |
8155.692 |
2412.304 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1075.444 |
1864.407 |
4228.845 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
1621.544 |
1402.970 |
1248.599 |
|
(d)
Cash and cash equivalents |
185.937 |
197.727 |
142.353 |
|
(e)
Short-term loans and advances |
31.062 |
3.649 |
2.680 |
|
(f)
Other current assets |
275.509 |
175.302 |
95.599 |
|
Total
Current Assets |
3189.496 |
3644.055 |
5718.076 |
|
|
|
|
|
|
TOTAL |
11352.429 |
11799.747 |
8130.380 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
5494.646 |
4921.434 |
4331.669 |
|
|
|
Other Operating income |
70.556 |
164.613 |
53.104 |
|
|
|
Other Income |
195.911 |
342.556 |
321.775 |
|
|
|
TOTAL |
5761.113 |
5428.603 |
4706.548 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
1053.752 |
938.380 |
827.557 |
|
|
|
Other expenses |
3252.495 |
2562.988 |
2103.826 |
|
|
|
TOTAL |
4306.247 |
3501.368 |
2931.383 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST TAX DEPRECIATION AND AMORTISATION |
1454.866 |
1927.235 |
1775.165 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
135.698 |
0.359 |
0.336 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX DEPRECIATION AND AMORTISATION |
1319.168 |
1926.876 |
1774.829 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
536.046 |
360.673 |
328.736 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
783.122 |
1566.203 |
1446.093 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
238.382 |
486.950 |
386.372 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
544.740 |
1079.253 |
1059.721 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Consultancy services |
NA |
56.685 |
47.965 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
63.189 |
2.289 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
11.43 |
22.64 |
22.23 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
1237.632 |
1410.369 |
1442.634 |
|
|
|
|
|
|
Net cash generated from Operating Activities |
1043.037 |
1088.406 |
954.171 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
1043.580 |
1257.370 |
1484.200 |
|
Total Expenditure |
876.590 |
973.360 |
1127.950 |
|
PBIDT (Excl OI) |
166.990 |
284.010 |
356.250 |
|
Other Income |
27.150 |
21.170 |
17.780 |
|
Operating Profit |
194.140 |
305.180 |
374.030 |
|
Interest |
12.410 |
12.520 |
12.470 |
|
Exceptional Items |
42.380 |
0.000 |
0.000 |
|
PBDT |
224.110 |
292.660 |
361.560 |
|
Depreciation |
156.470 |
158.670 |
160.970 |
|
Profit Before Tax |
67.630 |
133.990 |
200.590 |
|
Tax |
23.150 |
74.460 |
70.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
44.480 |
59.540 |
130.580 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
44.480 |
59.540 |
130.580 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
107.72 |
104.05 |
105.21 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.39 |
3.51 |
3.47 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.19 |
0.26 |
3.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.23 |
0.31 |
0.13 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.14 |
0.31 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.31 |
0.45 |
0.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.91 |
0.90 |
0.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
10.72 |
5368.34 |
5283.23 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
9.91 |
21.93 |
24.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.80 |
9.15 |
13.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.37 |
13.38 |
15.05 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.22 |
1.01 |
5.61 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.22 |
1.01 |
5.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.75 |
0.68 |
0.87 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.58 |
5.25 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.22 |
1.01 |
5.61 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
|
|
|
Market Value |
INR 705/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
476.704 |
476.704 |
476.704 |
|
Reserves & Surplus |
6563.578 |
7587.469 |
8069.958 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7040.282 |
8064.173 |
8546.662 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
2500.845 |
1231.909 |
|
Current Maturities of Long
term debt |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.310 |
0.144 |
%20LIMITED%20-%20500685_MIRA%2030-Mar-2018_files/image022.gif)
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 |
4331.669 |
4921.434 |
5494.646 |
|
|
|
13.615 |
11.647 |
%20LIMITED%20-%20500685_MIRA%2030-Mar-2018_files/image024.gif)
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 |
4331.669 |
4921.434 |
5494.646 |
|
Profit |
1059.721 |
1079.253 |
544.740 |
|
|
24.46% |
21.93% |
9.91% |
%20LIMITED%20-%20500685_MIRA%2030-Mar-2018_files/image026.gif)
LEGAL CASES
|
CASE DETAILS Bench: Bombay |
|
Presentation Date: 22.08.2017 |
|
|
|
Lording No.:
ITXAL/2138/2017 Filing Date: 22.08.2017 Reg. No.: ITXA/524/2018 Reg.
Date: 14.02.2018 |
|
Petitioner : The
Commissioner of Income Tax Respondent: ENTERTAINMENT NETWORK
(INDIA) LIMITED Petn. Adv.: Prakash Chandra
Chhotaray (I3415) Districts: Mumbai |
|
Bench : Division Status:
Pre-Admission Category:
Tax Appeals Last Date : 27.02.2018 Stage: For rejection [Original side
Matters] Last Coram: ACCORDING TO
SITTING LIST ACCORDING TO SITTING LIST |
|
Act: Income Tax Act,
1961 Under Section: 260A |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C26436378 |
10039746 |
KOTAK MAHINDRA
BANK LIMITED |
20/02/2007 |
07/12/2009 |
07/10/2014 |
300000000.0 |
36-38A, NARIMAN
BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
2 |
C26434159 |
10062091 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
27/07/2007 |
- |
26/09/2014 |
650000000.0 |
52/60, MAHATMA
GANDHI ROAD,MUMBAI 400 001MUMBAIMH400001IN |
|
3 |
A45977170 |
10052207 |
STANDARD CHARTERED
BANK |
22/05/2007 |
- |
02/09/2008 |
750000000.0 |
90, M G
ROAD,FORT,MUMBAIMH400001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Commercial Papers |
1231.909 |
2500.845 |
|
|
|
|
|
Total |
1231.909 |
2500.845 |
CORPORATE INFORMATION
The Company is a public limited company domiciled in India and is listed on the Bombay Stock Exchange (‘BSE’) and the National Stock Exchange (‘NSE’). The Company was incorporated on June 24, 1999 and has registered office at Mumbai, Maharashtra, India. The Company operates FM radio broadcasting stations in 40 Indian cities under the brand names ‘Radio Mirchi’ and ‘Mirchi Love’.
The Company’s principal revenue stream is advertising. Advertising revenues are generated through the sale of air time in the Company’s FM radio broadcasting stations, activations and monetization of Company’s digital and other media properties.
FINANCIAL PERFORMANCE, OPERATIONS AND STATE
OF THE COMPANY’S AFFAIRS
The Company took advantage of the Batch-1 auctions under Phase-3 policy and grew its business strongly during FY17. Total income of the Company increased from INR 5428.603 million during the previous year to INR 5761.113 million during the year. Profit after tax was INR 544.740 million.
On a consolidated basis, total income of the Company increased from INR 5435.401 million during the previous year to INR 5768.010 million during the year. Profit after tax was INR 551.696 million.
The financial performance is discussed in more detail in the Management Discussion and Analysis Report which forms part of the Annual Report.
The biggest event of FY17 was the Government of India’s DeMonetization initiative. The immediate impact of the program on the media industry was negative, and the impact was felt in both Q3 and Q4 of FY17. The Company also took a hit in both quarters. However, because of its multiproduct strategy (products other than core radio), the Company was able to avoid any de-growth in revenues in the months of November 2016 to March 2017. While core radio de-grew marginally, the other businesses including Activations, Concerts, TV properties, Multi-media solutions and Digital together provided growth during this period.
The Company has been adding new products to its sales portfolio every few years. Concerts is one such product. While concerts as a business was launched in a small way a few years back, it got a big thrust in FY17, with the business reporting 100%+ growth. The Company regards concerts as a major growth area for the future.
In September 2015, the Company had executed a Business Transfer Agreement (‘BTA’) with TV Today Network Limited (‘TVTN’) to purchase TVTN’s four radio stations in Amritsar, Jodhpur, Patiala and Shimla. The Company has now been operating these stations for more than one full year. It is extremely heartening to note that the four stations have reported a strong growth in revenues in FY17, resulting in an EBITDA margin of 20%. In H2 of FY16 (the first half of their acquisition), they had reported an EBITDA loss of 44.7%. This successful assimilation of the acquired stations gives us confidence in their ability to pursue more acquisition targets in the future.
In August 2016, the Company entered into an Advertising Sales Agreement (ASA) with TVTN in relation to TVTN’s remaining three radio stations at New Delhi, Mumbai and Kolkata. Pursuant to the ASA, TVTN has agreed to appoint ENIL as an agent of TVTN with effect from September 1, 2016 to facilitate the sale of TVTN’s airtime to third-parties who wish to advertise using TVTN’s airtime.
The Company participated in the 2nd batch of Phase-3 auctions held between October 26, 2016 and December 14, 2016.
After this batch of auctions, the Company acquired licenses in 21 new cities. These are Bhavnagar, Jamnagar, Junagadh, Mehsana, Bharuch and Palanpur in Gujarat, Akola and Amravati in Maharashtra, Tiruchirapalli and Tirunelveli in Tamil Nadu, Rajahmundry in Andhra Pradesh, Warangal in Durg/Bhilai and Raigarh in Chhatisgarh, Hubli/Dharwad and Mysuru in Karnataka, Ujjain in Madhya Pradesh, Jhansi in Uttar Pradesh, Asansol and Siliguri in West Bengal and the Union Territory of Puducherry. With these 21 cities, the core Mirchi brand will expand its footprint deeper into strategically important and fast growing cities and states. Its presence will increase from 43 to 64 cities in India. However, since the Company has decided to surrender the Goa license, the total number of cities will become 63. The total value of bids made by ENIL is INR 513.000 million. These frequencies are expected to become operational towards the end of FY18.
The Scheme of Amalgamation and Arrangement (‘Scheme’) of Times Infotainment Media Limited [‘TIML’], the holding company of the Company with Bennett, Coleman & Company Limited (‘BCCL’), the holding Company of TIML was filed under the Companies Act, 1956. The Scheme was approved by the Hon’ble Bombay High Court vide Order dated July 3, 2015 (‘Order’). The Hon’ble Bombay High Court’s approval was however subject to the approval of the Ministry of Information & Broadcasting, Government of India (‘MIB’).
The MIB, vide its letter dated April 25, 2016 (received by the Company on April 26, 2016), accorded its approval to the change in ownership pattern of the Company under the Scheme. Consequently, TIML’s entire shareholding in the Company was transferred to BCCL, and BCCL is the sole promoter shareholder of the Company.
In January 2017; the Company issued Unsecured Commercial Papers (CPs). The amount raised through issuance of CPs was INR 1218.000 million. The CPs have a tenor of 364 days and will mature in January 2018. The maturity value of CPs is INR 1300.000 million. The effective yield of the CPs is 6.75% per annum. Proceeds from the CPs were used to finance the Company’s business needs.
In March 2017; the Company fully repaid the Unsecured Commercial Papers (CPs) with maturity value of INR 2700.000 million issued to BNP Paribas in March 2016.
MEDIA INDUSTRY STRUCTURE AND DEVELOPMENTS
WORLD ECONOMY GAINING MOMENTUM:
The World Economic Outlook released in April 2017 by the IMF raised the global growth estimate from 3.1% in 2016 to 3.5% in 2017 and 3.6% in 2018, slightly above the October 2016 forecast. Economic activity gained some momentum in the second half of 2016, especially in advanced economies. Growth picked up in the United States as firms grew more confident about future demand, and inventories started contributing positively to growth (after five quarters of drag). Growth also remained solid in the United Kingdom, where spending proved resilient in the aftermath of the June 2016 referendum in favor of leaving the European Union (Brexit). Japan was a surprise, thanks to strong net exports, as were countries in Euro zone, such as Germany and Spain that saw strong domestic demand.
Economic performance across emerging markets and developing economies has remained mixed. Whereas China’s growth remained strong, reflecting continued policy support, activity temporarily slowed in India because of the impact of DeMonetization, as well as in Brazil, which has been mired in a deep recession because of the crash in global commodity prices and internal political trouble. Activity remained weak in fuel and non-fuel commodity exporters again on account of crashing commodity prices, while geopolitical factors held back growth in parts of the Middle East and Turkey.
INDIAN ECONOMY – WORLD’S FASTEST GROWING
MAJOR ECONOMY:
The International Monetary Fund (IMF) restored India to the status of the world’s fastest-growing major economy in 2016-17, as it raised its growth forecast to 6.8% for FY17, ahead of China at 6.7%. The IMF forecast is however lower than the 7.1% growth projected for 2016-17 by the Central Statistics Organization.
As per the IMF, India’s economy has grown at a strong pace in recent years owing to the implementation of critical structural reforms, favorable terms of trade, and lower external vulnerabilities thanks to soft crude prices. Beyond the immediate challenge of replacing currency in circulation following the November 2016 currency exchange initiative, policy actions should focus on reducing labor and product market rigidities to ease entry and exit of firms, expand the manufacturing base, and gainfully employ the abundant pool of available labor. Policy actions should also boost financial stability through structural tax reforms, including implementation of the recently approved nationwide goods and services tax.
IMF has retained its earlier India growth forecasts for 2017-18 and the next fiscal at 7.2% and 7.7%, respectively. Similarly, World Bank also estimates growth at 7.2% for FY18 and 7.5% for FY19. As per IMF, medium-term growth prospects are favorable, with growth forecast to rise to about 8% over the medium term due to the implementation of key reforms, loosening of supply-side bottlenecks, and appropriate fiscal and monetary policies.
RADIO INDUSTRY – FUTURE OUTLOOK,
OPPORTUNITIES AND THREATS
DeMonetization effect on Media Industry :
DeMonetization had a significant impact on the Media & Entertainment sector both directly & indirectly. The cash crunch post November 8th, 2016 resulted in a slowdown in consumption, which in turn impacted ad spends. A large % of broadcasting revenues comprises of advertising revenues. Advertising is highly exposed to the vagaries of underlying business performance of large ad spending sectors. As the business of these sectors sputtered post DeMonetization, so also did that of the media sectors as ad spends crashed. According to industry estimates, loss of advertising revenue on account of DeMonetization for calendar year 2016 was in the range of ` 15-17 billion.
A majority of radio broadcasters felt the impact of DeMonetization since retail advertisers were severely impacted by the shortage of cash.
Large media networks also felt the impact since most national advertisers cut spends to match reduced consumer spending. Sectors such as real estate, retail & e-commerce cut back on ad spends. Overall it is estimated that DeMonetization had an adverse impact of approximately INR 500.000-600.000 million or 2-3% in terms of annual growth in FY17 for the radio industry.
Although the industry expects full recovery to take 4-6 months, the situation is seen to have improved after Jan 2017. However, the impending launch of GST is expected to create further disruption for possibly three to four quarters from July 1st, 2017.
AWARDS & RECOGNITION:
· Radio Mirchi won the “Master Connectors” award at the Pitch Top 50 Brand 2016 held at Le- Meridien, Gurgaon in July 2016.
Mirchi wins at the Asia Consumer Engagement
Forum:
· Won Gold for Creativity of its event- Mirchi Silent Party;
· Also, bagged Bronze for Successful use of Technology at Mirchi Silent Party;
· Won Silver for Creativity for its radio campaign- Old is not That Old;
· Won Bronze for promotion of its Call you Mother Campaign;
· Won Bronze for Successful use of CSR Activity for its Flat 983 campaign.
Golden Mikes Awards for Radio Mirchi:
· Won a Broadcaster award for Best On Air Promotion by a Network of Radio Stations for Self for its Call the
· Mother campaign;
· Won a Broadcaster award for Best On Ground Promotion by a Single Radio Stations for its Mirchi Silent Party;
· Won an Effectiveness award for Best Use of Radio for Finding Mirchi for Maggi Hotheads campaign for Nestle.
CSR Awards:
· ABP NEWS CSR Leadership Awards 2016-17: for outstanding social impacts was won in February this year, during the World CSR Day conference in Mumbai. The award was for their initiatives and support to AR Rehman Foundation, Nalandaways and NAB Preparatory Unit.
SEGMENT- WISE FINANCIAL PERFORMANCE
ENIL – Radio Mirchi:
ENIL’s revenue from operations grew 9.4% to INR 5566.000 million, EBITDA from operations fell 20.5% to INR 1259.000 million and PAT de-grew by 49.5% to INR 545.000 million. These drops in EBITDA and PAT are on account of the significant spends in marketing, people, amortization, depreciation and finance charges on account of Phase-3 expansion.
The Company generated operating cash flows of INR 1113.000 million and had net cash of INR 29.000 million as on March 31, 2017. The net worth of the Company grew from INR 8064.000 million to INR 8547.000 million during the year.
Subsidiary Company:
Alternate Brand Solutions (India) Limited (ABSL) is the Company’s wholly owned subsidiary since 2007. ABSL recorded a total income of INR 689.800 million during the financial year 2016-17. Profit after Tax stood at INR 695.500 million for the financial year.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE
MONTHS ENDED 31.12.2017
(INR IN MILLION)
|
Sr. No. |
Particulars |
3 Months Ended 31.12.2017 |
3 Months Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Income from operations |
|
|
|
|
|
Revenue from operations |
1470.321 |
1249.367 |
3706.352 |
|
|
Other operating Income |
13.881 |
8.001 |
78.794 |
|
|
Total Income from operations (Net) |
1484.202 |
1278.533 |
3785.148 |
|
|
|
|
|
|
|
2. |
Other income |
17.780 |
21.165 |
88.095 |
|
|
|
|
|
|
|
3. |
Total Income |
1501.982 |
1278.533 |
3851.241 |
|
|
|
|
|
|
|
4. |
Expenses |
|
|
|
|
|
Employee
benefits expense |
281.083 |
322.385 |
895.017 |
|
|
Programing and Royalty Expenses |
69.880 |
62.724 |
198.498 |
|
|
Licenses Fees |
87.687 |
87.043 |
255.113 |
|
|
Marketing
expenses |
343.245 |
182.449 |
632.446 |
|
|
Depreciation
and amortisation expense |
160.968 |
158.666 |
475.108 |
|
|
Finance
costs |
12.472 |
12.517 |
37.398 |
|
|
Other
expenditure |
368.101 |
318.775 |
998.829 |
|
|
Total Expenses |
1301.396 |
1144.539 |
3491.409 |
|
|
|
|
|
|
|
5. |
Profit before share of profit of an associate and a joint
venture, exceptional Items and tax |
200.586 |
133.994 |
359.832 |
|
|
|
|
|
|
|
6. |
Share
of profit of associates and joint ventures |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
7. |
Profit before exceptional Items and tax |
200.586 |
133.994 |
359.832 |
|
|
|
|
|
|
|
8. |
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
9. |
Profit before tax |
200.586 |
133.994 |
359.832 |
|
|
|
|
|
|
|
10. |
Tax expense |
|
|
|
|
|
Current
tax |
52.899 |
27.718 |
95.856 |
|
|
Deferred
tax |
17.105 |
16.927 |
44.145 |
|
|
Current
tax/deferred tax for earlier years |
0.000 |
27.810 |
27.810 |
|
|
Total Tax expense |
70.0004 |
74.455 |
187.611 |
|
|
|
|
|
|
|
11. |
Net profit for the period |
130.582 |
59.539 |
234.597 |
|
|
|
|
|
|
|
12. |
Other comprehensive income, net of income
tax |
|
|
|
|
|
Items that will not be reclassified subsequently to profit or loss |
0.000 |
0.000 |
0.000 |
|
|
Re-measurement of post-employment benefit obligations |
1.621 |
(0.342) |
0.382 |
|
|
Items that will be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
13. |
Total comprehensive income for the period |
1.621 |
(0.342) |
0.382 |
|
|
|
|
|
|
|
14. |
Total comprehensive income attributable to:
|
132.203 |
59.197 |
234.979 |
|
|
|
|
|
|
|
|
Owners of the company |
|
|
|
|
|
Non-controlling |
132.203 |
59.197 |
234.979 |
|
|
|
|
|
|
|
15. |
Paid - up Equity Share Capital (Face value
of INR 10/- per share) |
476.704 |
476.704 |
476.704 |
|
|
|
|
|
|
|
16. |
Earnings Per Share (EPS) |
|
|
|
|
|
Basic and diluted |
2.74 |
1.25 |
4.92 |
NOTES:
1. The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors at their meeting held on February 5, 2018. The above financial results for the quarter and nine months ended December 31, 2017 have been subject to a "Limited Review" by the statutory auditors of the Company, as per Regulation 33 of Securities and Exchange Board of India {Listing Obligations and Disclosure Requirements) Regulations, 2015. There are no qualifications in the report issued by the auditors.
2. The Company is engaged in only one segment i.e. Media and Entertainment.
Consequently, there is no other reportable segment. The Company primarily
caters to the domestic market and hence there are no reportable geographical
segments.
3. The consolidated results include results of the Company's subsidiary Alternate Brand Solutions (India) Limited ("ABSL") which is consolidated in accordance with the Ind AS 110 "Consolidated Financial Statements" as prescribed under Section 133 of the Companies Act, 2013.
4. Exceptional items consist of write back of provisions for expenses recorded
in earlier years and no longer required. The write backs amounted to INR 42.376
million for the nine months ended December 31, 2017.
5. Previous period / year figures have been reclassified to conform with
current period / year presentation, where applicable.
FIXED ASSETS:
Tangible Assets
· Land – Leasehold
· Building
· Leasehold Improvements
· Office Equipment
· Computers
· Furniture and Fixtures
· Motor Vehicles
Intangible Assets
· Goodwill
· Computer Software
· Migration Fees
·
One Time Entry Fees
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 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
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 opera tions 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.