OK Play India Ltd
Gift Articles, Toys & Cards
FV – Rs 10; 52wks H/L – 210.65/95.9; TTQ – 2280; CMP – Rs 185 (As On May 30, 2017);                      

            Market Cap – Rs 348 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Promoter holding was 60.44% in Sept 16 which has come down to 58.41 currently.

Standalone Financials and Valuations for 9Mnths FY17

Valuation Parameters:

1. Long Term Debt to Equity – 1.24
2. ROE % – NA
3. Market Cap/Sales – 3.3

OK Play India, the plastic auto components maker, on Monday launched 8 e-vehicles — which includes passenger and commercial vehicles — under brand E-Raaja priced between Rs 1.25-1.5 lakh. http://www.business-standard.com/article/companies/ok-play-india-launches-8-e-vehicles-priced-at-rs-1-25-1-5-lakh-117032700539_1.html

At present, we have about 16 dealers but during the course of next financial year, we will looking a dealer network of 1500 (Source – MD Statement)

The Company has ongoing Marketing, Technical & Manufacturing collaboration with Hofit Kibbutz Kinneret Ltd of Israel engage in manufacturing of inspection chamber for sewage, water and communication system for domestic, public and industrial infrastructure.

There was a fire at the plant during night between 9^th and 10^th January,2015 in which the company lost its stocks and part of the Building and Plant & Machinery which has hampered the business of the Company. The Company is also emphasizing on development of new business in plastic moulding including development of new products especially toys, outdoor play equipment and delivery boxes.

The company has developed the latest generation plastic body E-Rickshaw which has got patented and has entered manufacturing agreement for the production at 8 locations all over the country.

The company sees huge requirement of E Rickshaw and other battery operated vehicles and expects to recover all its loss and become profitable in the coming years.

Overview:

• OK Play India Ltd is engaged in manufacturing plastic molded toys, school furniture, playground equipment, infrastructure and automotive products, and point-of-purchase products.
• The Company’s brands include Chillafish, Clics, Gonge, Malinos, Mic-o-Mic, Mookie, OK Play, Petron, Pockos, Primomo, Step2, Tolo and Winther.
• It offers toys for all age groups from toddlers to teenagers for both education and entertainment.
• The Tolo, Pockos, Mookie and Chillafish brands of toys are for infants with a range of teethers, rattles, squeakers and themed ride-ons.
• It offers musical toys for the young children and ride-ons for the older ones.
• Mic-o-Mic and Clics barnds offer building blocks and construction sets.
• Winther offers outdoor play products with a range of ride-ons.
• Its ship category consists of Kids Toys, Kids Furniture, Ride Ons, Games, Vehicles, Sports, Outdoor Fun and Indoor Fun.
• The Company’s manufacturing facilities are located at Sohna in Haryana, and Ranipet in Tamil Nadu.

Management:

• T. R. Handa – Chairman
• Rajan Handa – MD
•  Puspamitra Das – CFO

Major Non – Promoter Holdings:

Godavari Drugs Ltd
Pharmaceuticals
FV – Rs 10; 52wks H/L – 54.9/34; TTQ – 1243; CMP – Rs 42 (As On May 22, 2017);                      

            Market Cap – Rs 32Crs

Standalone Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Standalone Financials and Valuations for 9Mnths FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.3
2. ROE % – 9
3. Market Cap/Sales – 0.5

Overview:

• Godavari Drugs Ltd is engaged in the contract manufacturing, loan license manufacturing, manufacturing and supply of active pharmaceutical ingredients (APIs), drug intermediaries and fine chemicals.
• The Company’s API products include Ciprofloxacin Hydrochloride, Enrofloxacin, Centrizine Hydrochloride and Ethambutol Hydrochloride.
• Its intermediate products include A D Lactone and Benzhyryl Piperazine.
• Its manufacturing facilities are located at Maharashtra Industrial Development Corporation estate at Nanded, Maharashtra, India.
• The manufacturing facilities are equipped with glass lined reactors, stainless steel reactors, filtration equipment of various types, drying equipment of various types, compaction facilities, solvent recovery and rectification facilities, hydrogenation facilities suitable for high pressures up to 45 bar, vapor phase catalytic tube reactors operable at temperatures in the range of 450 degrees centigrade, distillative reaction facilities and others.

Management:

• Ghanshyam Jaju – Chairman
• Mukund Kakani – MD
•  Kirti Kumar Jain – CFO

The Equity Capital is @ Rs 7.53 Crs consisting of 7530500 equity Shares of FV Rs 10 currently held as under

10.48% Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Standalone Financial Trends (In Rs. Crs) :

Godavari Drugs Ltd
Pharmaceuticals
FV – Rs 10; 52wks H/L – 54.9/34; TTQ – 1243; CMP – Rs 42 (As On May 22, 2017);                      

            Market Cap – Rs 32Crs

Standalone Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Standalone Financials and Valuations for 9Mnths FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.3
2. ROE % – 9
3. Market Cap/Sales – 0.5

Overview:

• Godavari Drugs Ltd is engaged in the contract manufacturing, loan license manufacturing, manufacturing and supply of active pharmaceutical ingredients (APIs), drug intermediaries and fine chemicals.
• The Company’s API products include Ciprofloxacin Hydrochloride, Enrofloxacin, Centrizine Hydrochloride and Ethambutol Hydrochloride.
• Its intermediate products include A D Lactone and Benzhyryl Piperazine.
• Its manufacturing facilities are located at Maharashtra Industrial Development Corporation estate at Nanded, Maharashtra, India.
• The manufacturing facilities are equipped with glass lined reactors, stainless steel reactors, filtration equipment of various types, drying equipment of various types, compaction facilities, solvent recovery and rectification facilities, hydrogenation facilities suitable for high pressures up to 45 bar, vapor phase catalytic tube reactors operable at temperatures in the range of 450 degrees centigrade, distillative reaction facilities and others.

Management:

• Ghanshyam Jaju – Chairman
• Mukund Kakani – MD
•  Kirti Kumar Jain – CFO

The Equity Capital is @ Rs 7.53 Crs consisting of 7530500 equity Shares of FV Rs 10 currently held as under

10.48% Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Standalone Financial Trends (In Rs. Crs) :

Rama Steel Tubes Ltd
Iron & Steel Products
FV – Rs 5; 52wks H/L – 155.8/88.1; TTQ – 25 K; CMP – Rs 151 (As On May 02, 2017);                      

            Market Cap – Rs 226 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Consolidated Financials and Valuations for 9Mnths FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.65
2. ROE % – 23
3. Market Cap/Sales – 0.92

Rama Steel Tubes, a leading manufacturer of ERW pipes, has said that it has bagged prestigious export orders worth ₹30 crore. The company will execute the orders from its facility at Delhi. This facility has an overall manufacturing capacity of 60,000 tonnes per annum. These orders will boost the performance of the company. In line with its vision of profitable growth, the company has been successful in further strengthening its presence in highly profitable geographies. http://www.thehindubusinessline.com/markets/stock-markets/rama-steel-tubes-limited/article9637936.ece

On March 29, 2017 the Company approved Preferential Allotment of 1500000 Fully Convertible Warrants and 1100000 Equity Shares of Rs.5 each at an Issue Price of Rs.122 each to Promoter and Non – Promoter group.

Operating currently from two locations, Rama Steel Tubes has a total production capacity of 99,000 tonnes which the company plans to increase to 340,000 tonnes by 2019-20 at an investment of Rs 50 crore (excluding land value). http://www.business-standard.com/article/companies/rama-steel-tubes-to-quadruple-production-capacity-in-four-years-116051801184_1.html

Overview:

• Rama Group, One of the leading manufactures of Steel Pipes & Tubes and Rigid PVC & G.I. Pipes in India. Established in 1974 by Sh. H.L. Bansal, Rama in one of the most trusted and established name in the Steel Tube and pipe market in India, and one which in rapidly gaining recognition in overseas markers.
• With its 20% exports rate, the company has global presence in the Countries like United Kingdom, UAE, Sri Lanka, Ethiopia, Kenya, Uganda, Ghana, Kuwait, Republic of Congo, Yemen, Guyana, Germany, USA, South Africa, Zambia and Malta etc. being its prime markets.
• The Company’s range includes MS ERW black pipes from 15mm to 200mm diameter pipes .Pipes from 15mm to 150mm NB in light, medium and heavy sizes.
• As a pioneer and leader in the steel tubes industry, Rama is at the forefront of technology and research and are constantly innovating, listening to the rapidly changing market and giving the consumer the best value for his money. We are Rama, where every effort is towards being better – than the best.
• Rama has developed a very sophisticated manufacturing facility and the company constantly invests in the latest advances in technology.
• To take the lead & full fill the market demand Rama Group has installed a modern high speed Tube Mill based on latest technology of world leader M/s Kusakabe of Japan.
• The plants are located in New Delhi, India’s national capital, in the industrial belt of Sahibabad (Capacity -60000 MT) and in Khopoli (Capacity – 72000 MT).

Management:

• Naresh Kumar Bansal – CMD
• Richi Bansal – CEO
• Rajkumar Malik – CFO

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

The Company had, in the year ending March 31 2016, split the shares to face value Rs.5 Rs.10 and issues 4 bonus shares for every share held resulting in the total equity to Rs.7.47 Crs from Rs.1.49 Crs.

The total revenue grew at 26% due to starting of a new manufacturing facility at Khopoli.

Hindustan Construction Co. Ltd
Construction & Engineering
FV – Rs 1; 52wks H/L –48/18 ; TTQ – 24.82 Lacs ; CMP – Rs 47 (As On April 25th 2017) ;                    

                Market Cap – Rs 4800 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Standalone Financials and Valuations for 9Months FY17

The HCC Group, with a group turnover of Rs. 10353 Crs. comprises of HCC Ltd, HCC Infrastructure Co. Ltd, Lavasa Corporation td and Steiner AG in Switzerland.

In addition, the Company has around 3701 Crs of orders in the L1 position, which are expected to turn into firm orders in 2016-17. Thus, HCC not only has a robust order book across the sectors, but also the average size of its new orders is over 700 Crs.

HCC has a standalone debt of Rs. 4900 Crs. and the arbitration awards will help the company to immediately cut its debt by almost half and materially reduce it even further within 12 to 24 months. http://www.livemint.com/Companies/nX8qrZxTX7h3ot6I8TBNPJ/Hindustan-Construction-to-start-getting-arbitration-awards-b.html

Valuation Parameters:

1. Long Term Debt to Equity – 10.2
2. ROE % – NIL
3. Market Cap/Sales – 0.54

Key Updates:

• The current order book is at Rs. 20936 Crs. (As on 31^st Dec,2017)
• HCC has posted an average annual revenue exceeding 4000 Crs, secured orders of over 14000 Crs and completed 17 major projects.
• The company has been awarded Rs. 369 Crs contract from IRCON on Jan 9, 2017.
• The company bags an order from NHAI worth Rs.1748 Crs. for constructing 32kms of highways in Jammu & Kashmir.
• The company also expects of winning an order from the Mumbai Metro Project where it has emerged as the lowest bidder for one of the seven sections.
• The company has utilised its QIP proceeds of Rs 400 Crs. (Floor Price of Rs.30) which was on April 8, 2015 to reduce debt.
• The company also has realised Rs 158 crore from the sale of 247 Park.

Overwiew:

• Hindustan Construction Company Limited provides engineering and construction services.
• The Company’s businesses span the sectors of engineering and construction, real estate, infrastructure, urban development and management. It operates in the engineering and construction segment.
• It has a presence in the sectors of hydro power, water solutions, transportation and nuclear power.
• In the hydro power segment, its operations include construction of dams, barrages, tunnels, underground power stations and surface power stations, along with water conductor systems, such as surge shafts, pressure shafts and penstocks.
• Its operations also include material handling, such as aerial cableways for concrete placement, tower cranes, ropeways and hydraulic operated traveling/collapsible tunnel formwork, among others.
• It provides solutions in nuclear power by tie-ups with engineering and construction solution providers. In addition, the
• Company delivers transport systems, bridges and highways.

• HCC has developed Lavasa City, a planned hill city and one of India’s largest urban development and management initiatives which attracted 1 million tourists during the year.

Management:

• Ajit Gulabchand – CMD
• Arjun Dhawan – CEO
• Ram P. Gandhi – Director

The Equity Capital is @ Rs. 77.91 Crs consisting of 1010703635 equity Shares of FV Rs 1 currently held 

85.38% Of the Promoter’s Holding is Pledged.

Major Non-Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

During the year, additional 133332800 equity shares were issued of face value Rs.1 each.

Exide Industries Ltd
Auto Parts & Equipment
FV – Rs 1; 52wks H/L – 240.55/134.65; TTQ – 7.81 Lacs; CMP – Rs 238 (As On April 20, 2017);                      

            Market Cap – Rs 20310 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Standalone Financials and Valuations for 9Mnths FY17

Valuation Parameters:

1. Long Term Debt to Equity – NA
2. ROE % – 16
3. Market Cap/Sales – 0.5

• Exide can produce around 34.2 million units of automobile batteries (including batteries for motorcycle applications) annually, and over 2824 million ampere-hours of industrial power every year.
• The company has a planned capital expenditure of over Rs. 1400 Crs for technology up-gradation, making the organisation more cost-efficient and driving higher automation
• The company is implementing a large scale CastOn-Strap (COS) line at Hosur, which will be manufacturing large-size batteries in FY 2016-17, enabling faster turnaround and output. At Haldia plant, they have commenced operations of another COS line for much larger batteries (traction cells).
• Exide is one of the few battery manufacturers who are capable of manufacturing submarine batteries for a wide range of submarine designs. During FY 2015-16, submarine batteries recorded an impressive growth of around 42% over the previous year.
• Despite a gloomy Global Automotive outlook, export of Automotive Batteries registered a marginal growth of around 2% in value. The export of Industrial Batteries, Home UPS and Solar Systems recorded a volume growth of around 6.5% over the previous year.

Overview:

• Exide Industries Ltd is a storage battery company.
• The Company designs, manufactures, markets and sells a range of lead acid storage batteries.
• It operates through Storage Batteries & allied products, Life Insurance Business and Others segments.
• Storage batteries & allied products segment includes the holding company and some of its subsidiaries manufacture lead acid storage batteries and allied products.
• The Life Insurance business segment is engaged in life insurance business carried by its subsidiaries.
• It offers a range of products, including automotive batteries, solar batteries, submarine batteries, industrial batteries, genset batteries, inverter batteries and home uninterruptible power supply systems.
• The Company manufactures batteries for the automotive, power, telecom, infrastructure projects, computer industries, as well as the railways, mining and defense sectors.
• Its manufacturing units are located in West Bengal, Haryana, Maharashtra, Tamil Nadu and Uttarakhand.

Management:

• R. G. Kapadia – Chairman
• G. Chatterjee – MD & CEO
•  A. K. Mukherjee – CFO

The Equity Capital is @ Rs 85 Crs consisting of 850000000 equity Shares of FV Rs 1 currently held as under

None Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

Sales of Automotive Batteries had a growth rate of 4.3% by volume in 2015-16.

The aftermarket sales of four wheeler batteries witnessed an overall growth of 10% in units from the previous year.

In the two wheelers aftermarket, the growth rate during the year was nearly 14%. Sale of batteries in the four wheeler OEM division was however lower by about 2% in units during the year.

In the OEM two wheelers, the Company witnessed a growth rate of 3% in sales as compared to that of previous year

Eastern Gases Ltd
Oil Marketing & Distribution
FV – Rs 10; 52wks H/L – 72.9/23.1; TTQ – 495; CMP – Rs 61 (As On April 17, 2017);                      

            Market Cap – Rs 90 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Standalone Financials and Valuations for 9Mnths FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.33
2. ROE % – 10
3. Market Cap/Sales – 0.33

Eastern Gases to consider purchasing shares of Asia LPG Pvt Ltd to extent of 100 percent and make it a unit of company. http://in.reuters.com/article/brief-eastern-gases-to-consider-purchasi-idINFWN1G60HO

With the new government policy PAHAL (DBTL) Scheme it has able to restrict the black marketing of subsidies LPG and thereby saves Rs 10,000 crores. It has predominantly increased the sale of cylinders at market price and thereby a huge opportunity to the parallel marketers to play.

The company has started two new LPG bottling plants at Bangalore & Hyderabad with its vision of pan India presence. This will add to company’s presence in Domestic, Commercial and Industrial segment. With various government checks on Domestic LPG supplies the company expects that the Domestic sector will also open up as Good Avenue in years to come.

The Authorized Equity Share Capital of the Company be and is hereby increased from Rs. 15 Crs divided into 15000000 (One Crores Fifty Lakhs) Equity Shares of Rs. 10 each to Rs. 18.08 CRs divided into 18080000 (One Crores Eighty Lakhs Eighty Thousand) Equity Shares of Rs. 10 each by creation of additional 3080000 (Thirty lakhs Eighty Thousand) Equity Shares of Rs. 10 amounting to Rs. 30800000 (Rupees Three Crores Eight Lakhs) by way of warrants, each ranking pari- passu in all respect with the existing Authorized Equity Share Capital. http://corporates.bseindia.com/xml-data/corpfiling/AttachHis/0d7f9aa4-c51c-4f85-bb76-11b42c390f0b.pdf

Overview:

• Eastern Gases Ltd iis engaged in manufacturing of gas and distributing of gaseous fuels.
• The Company is engaged primarily in the business of bottling, trading of liquefied petroleum gas (LPG) and Retailing of AutoLPG.
• It also manufactures propane, ammonia and butane, and supplies fuel to various companies in industrial houses.
• The Company also undertakes execution of turnkey projects of gas installation customized according to the customers’ requirements on a long-term gas supply contract basis.
• It can supply gas on long-term contract, as well as setup installations at the customer’s premises.
• The Company also provides testing services, such as SRV Testing.
• The Company is engaged in marketing its EAST GAS brand commercial LPG cylinders.
• The Company has bottling plants located throughout India.
• Its total installed capacity is 70,000 metric ton (MT) per annum.
• It caters the commercial cylinder market of West Bengal, Bihar and Orissa from its own bottling plant situated at Durgapur.

Management:

• Sushil Kr. Bhansali – CMD
•  Ranjeet Kochar – CFO

The Equity Capital is @ Rs 15 Crs consisting of 15000000 equity Shares of FV Rs 10 currently held as under

None Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Standalone Financial Trends (In Rs. Crs) :

The financial year 2015-16 witnessed the results of recent internal improvement programs and also reflected the positivity of the macro environment.

Net Sales increased by 17.26% and Net Profit increased by 14.84% .

Kriti Industries Ltd
Plastic Products
FV – Rs 1; 52wks H/L – 46.7/21; TTQ – 28 K; CMP – Rs 43.5 (As On March 16, 2017);                      

            Market Cap – Rs 216 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Standalone Financials and Valuations for 9Mnths FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.36
2. ROE % -20
3. Market Cap/Sales – 0.45

During the year the company processed 49010 MT of plastic as against 37812 MT as of last year which results in 29.61% growth.

Company has undertaken Water tank, RPVC Pipes & Fittings, CPVC and Infrastructure up gradation expansion projects involving capital outlay of Rs.14 Crs in Phase I to be financed by Term loan of Rs.10 Crs and balance by internal accruals, Company has availed term loan Rs. 8.5 Crs during the year. Company has repaid term loan of Rs. 7.93 Crs during the year.

Overview:

• Kriti Industries (India) Ltd is engaged in the pipes business. The Company operates under Plastic segment in over four verticals, such as agriculture, building products, micro irrigation and infrastructure.
• Its agriculture products include rigid polyvinyl chloride (RPVC) pipe and fittings, casing pipe, polyethylene (PE) coils, sprinkler systems, submersible pipe, suction and garden pipe.
• Its building products include soil waste rainwater (SWR) drainage pipe and fittings, chlorinated polyvinyl chloride (CPVC) and plumb pipe and fittings, and garden pipe. Its micro irrigation products include micro irrigation lateral (inline and online), sprinkler systems, and RPVC pipe and fittings.
• Its infrastructure products include RPVC ring fit pipe (elastomeric) and fittings, high-density PE (HDPE) and medium-density PE (MDPE) pipes and fittings, permanently lubricated (PLB) telecom duct and micro duct.
• Kriti Auto & Engineering Plastics Pvt. Ltd is the wholly owned subsidiary of the Company with a gross turnover of Rs. 19 Crs and a Net Loss of 0.1 Crs.

Management:

• Shiv Singh Mehta – MD
•  V. K. Mittal – CFO

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

The performance of the company was possible due to stability in Raw Material prices and Inventory Management.

Music Broadcast Ltd

Issue Open: Mar 6, 2017 – Mar 8, 2017
Issue Type: Book Built Issue IPO
Issue Size:
Fresh Issue of Equity Shares of Rs 10 aggregating up to Rs 400.00 Crs
Offer for Sale of 2658518 Equity Shares of Rs 10
Face Value: Rs 10 Per Equity Share
Issue Price: Rs. 324 – Rs. 333 Per Equity Share
Market Lot: 45 Shares
Minimum Order Quantity: 45 Shares
Listing At: BSE, NSE

BRRLM – ICICI Securities Ltd

Standalone Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

• Post issue Promoters Holding will come down to ~70%

Standalone Financials and Valuations for H1 FY17

Music Broadcast Limited operates as a subsidiary of Jagran Prakashan Limited.

Objects of the Issue:

• Redemption of Listed NCDs; 
• Early redemption of the JPL NCDs and repayment / pre-payment of JPL ICDs;and
  General corporate purposes.

Category-wise Break up:
Anchor – 4401159 Shares = 146.56Crs.
Net QIB – 2934106 Shares = 97.71Crs
NII – 2200580 Shares = 73.28Crs
RII – 5134685 Shares = 170.99Crs. (Lot size = 45)
Total Issue – 14670530 Equity Shares = 488.53Crs.

Overview:

• Music Broadcast Ltd (MBL) is operating radio stations under the branch “Radio City” and has grown its presence from 4 cities in 2001 to 37 cities as on 15th February 2017. These radio stations include the eight “Radio Mantra Stations” transferred from SPML pursuant to the Scheme of Arrangement and nine out of eleven New Radio City Stations. The company expects the remaining two New Radio City Stations to be operationalised by March/ April 2017.
• MBL is present in 12 out of the top 15 cities in India by population having a reach to over 49.60 million listeners in 23 cities.
• All its Phase II Radio City Stations which were under Phase II Policy have been migrated to the Phase III Policy.
• These include Radio City stations which are present at Bengaluru, Lucknow, Mumbai, New Delhi, Chennai, Pune, Hyderabad, Ahmedabad, Surat, Nagpur, Jaipur, Vadodara, Coimbatore, Vizag, Ahmednagar, Sholapur, Sangli, Nanded, Jalgaon and Akola and the Radio Mantra Stations which have been transferred to it pursuant to the Scheme of Arrangement which are located at Agra, Bareilly, Gorakhpur, Varanasi, Jalandhar, Ranchi, Hissar, and Karnal. Under the Phase III Policy, new cities were opened up for auction, pursuant to which MBL acquired 11 additional radio stations i.e. the New Radio City Stations.
• The New Radio City Stations which have been operationalised are located at Kanpur, Ajmer, Kota, Udaipur, Patiala, Jamshedpur, Nasik, Kolhapur and Madurai. The remaining two New Radio City Stations namely Bikaner and Patna are expected to be operationalised by March/ April 2017.
• Under the Phase III Policy the license period for radio stations has been increased to 15 years and radio stations are now permitted to carry news bulletins of AIR and also network their radio stations in all cities. 

The Promoter of the Company is JPL (Jagran Prakasha Ltd)

(Jagran Prakashan Ltd is one of the leading media and communications groups in India with interests spanning across print, radio, digital, out of home and brand activations. JPL publishes 10 print titles in five different languages across 13 States in India and has over 400 editions and sub-editions. These include titles such as ‘Dainik Jagran’ –India’s largest read daily and – ‘Inquilab’, one of India’s leading Urdu daily. As of March 31, 2016, JPL had consolidated operating revenues of 2107 Crs and a profit after tax of 445 Crs on a consolidated basis. )

Major Shareholders:

• The shareholding of Spectrum and Crystal were subsequently transferred to JPL pursuant to the Scheme of Arrangement.

From 1999 till 2005 it issued equity at par and in 2006 it issued few shares at a price of Rs. 32703.47 per share. In 2007 it issued further equity at a price of Rs. 70 per share and thereafter it again issued more shares at par in 2007 and 2015. In 2006 it also issued bonus shares in the ratio of 705.13 shares for every 1 share held.

Standalone Financial Trends (In Rs.Crs) :

The Radio Revenue is 55%.

Debt is long term in nature (except 3 Crs short term included on FY2016)

Peer Comp: (Standalone FY16)

The market share of MBL is 21% whereas ENIL is 20%

The value share of MBL is 23% and ENIL is 24%