MIRA
INFORM REPORT
|
Report Date : |
28.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MANIPAL PRESS LIMITED |
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Registered Office : |
Udayavani Building, Press Corner, Manipal – 576 104, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2002 |
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Date of Incorporation : |
13.01.2000 |
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Com. Reg. No.: |
08-26222 |
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CIN No.: [Company Identification No.] |
U22219KA2000PTC026222 |
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TAN No.: [Tax Deduction & Collection Account No.] |
BLRM05742C |
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PAN No.: [Permanent Account No.] |
AABCM9516H |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
Subject is engaged in as Printers and Publishers. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
RATING
|
STATUS |
PROPOSED
CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with
the strongest capability for timely payment of interest and principal sums |
Unlimited |
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Maximum Credit Limit : |
USD 850000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old established company having fine track. Available information indicates high financial responsibility of the company. Financial position is good having strong Reserves and Surplus position. Trade relations are fair. Payments are correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Udayavani Building, Press Corner, Manipal – 576 104, Karnataka, India |
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Tel. No.: |
91-820-2571151 to 55/ 271149-59 |
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Fax No.: |
91-820-2570131/2571162/ 70563 |
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E-Mail : |
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Website : |
http://www.manipalpress.com |
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Area : |
50000 sq. ft. |
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Location : |
Owned |
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Branches : |
Ø Manipal Centre, 47, Dickenson Road, Bangalore – 560042, Karnataka, India Tel. No. 91-80-5581779/5588467 Fax No. 91-80-5586898 Mobile : 9845243203 E-mail : richard@manipalpress.com Ø Auras Corporate Center, Dr. Radhakrishnan Salai – 600004, Chennai, Tamil Nadu, India Tel. No. 91-44-28544836/28544761/28530177 Fax No. 91-44-28530177 Ø 81/8, 2nd Floor, Cheran Towers, 78, Government Arts College Road, Coimbatore – 641018, India Tel. No. 91-433-2215302 Fax No. 91-433-2215302 Mobile : 9843023824 Ø Oxford Plaza, 1st Floor, S. Road, Secunderabad, Hyderabad, India Tel. No. 91-40-27706649 Fax No. 91-40-27700448 Mobile : 984902341 Ø 2nd Floor, City Point Building, Navabharath Circle, Mangalore, Karnataka, India Ø 616, Dalamal Towers, 21, Nariman Point, Mumbai, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Satish T Pai |
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Designation : |
Director |
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Address : |
38, Anant Nagar, Manipal – 576 119, Karnataka, India |
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Date of Birth/Age : |
26.11.1941 |
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Date of Appointment : |
13.01.2000 |
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Name : |
Mr. Perdoor V Mallya |
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Designation : |
Director |
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Address : |
D63C, Ananthnagar, II Stage, Manipal, Udupi-576104, Karnataka |
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Date of Birth/Age : |
31.08.1948 |
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Date of Appointment : |
25.01.2000 |
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Name : |
Mr. Katapady Prabhakar Kamath |
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Designation : |
Director |
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Address : |
Shivaprabha, Udupi, Katapady – 547 105, Karnataka, India |
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Date of Birth/Age : |
21.04.1966 |
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Date of Appointment : |
25.01.2000 |
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Name : |
Mr. Gautam T Pai |
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Designation : |
Director |
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Address : |
38, Ananth Nagar, Manipal – 576 119, Karnataka, India |
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Date of Birth/Age : |
26.09.1974 |
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Date of Appointment : |
30.09.2003 |
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Name : |
Mr. Sachin Tonse Pai |
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Designation : |
Director |
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Address : |
14, Anant Nagar, Manipal – 576 119, Karnataka, India |
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Date of Birth/Age : |
10.03.1976 |
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Date of Appointment : |
16.04.2004 |
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Name : |
Mr. Prabhu Sudhakar |
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Designation : |
Director |
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Address : |
Gerukatte Karnad, Mulki, Udupi, Karnataka-574154 |
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Date of Birth/Age : |
12.04.1968 |
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Date of Appointment : |
25.01.2000 |
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Date of Ceasing : |
24.03.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. T. Satish U. Pai |
|
40500 |
|
Mr. T. Ramadas Pai |
|
9376 |
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Mr. T. Narayana Pai |
|
40500 |
|
Mr. T. Ashok Pai |
|
10158 |
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Mr. T. Gautam Pai |
|
27000 |
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Mr. T. Narayan Pai and Mrs. Vijaylaxmi N. Pai |
|
2344 |
|
Manipal Media Network Limited |
|
1000000 |
|
Savoy Investment Private Limited |
|
3124 |
|
Shivalli Investment Company Private Limited |
|
29376 |
|
Sharath Investment company Private Limited |
|
15936 |
|
Mr. Pai Satish Tonse |
|
2968 |
|
Mr. Pai Ramdas Madhav |
|
40500 |
|
Mr. Pai Ashok Tonse |
|
39000 |
|
Mr. Satish U. Pai (HUF) |
|
1250 |
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Mr. T. Sachin Pai |
|
1500 |
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Mrs. Sandhya S Pai |
|
4688 |
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Mrs. T. Gayathri Pai |
|
7812 |
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Mrs. Vasanthi Ramdas Pai |
|
4688 |
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Mr. Rajan Ramdas Pai |
|
2342 |
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Mr. K. K. Pai |
|
1250 |
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Total |
|
1313688 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in as Printers and Publishers. |
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|
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|
Products : |
Printing |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
|
Printed Letter Pads |
Nos. |
478.525 millions |
478.525 millions |
GENERAL
INFORMATION
|
No. of Employees : |
250 |
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Bankers : |
v Syndicate Bank, Manipal Branch, Manipal-576104, Karnataka, India v Corporation Bank, Manipal Branch, Manipal-576104, Karnataka, India v Vijaya Bank, Founders Branch, Vijaya Towers, LHH Road, Bangalore-575003, Karnataka, India |
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Facilities : |
Credit Limit: Rs. 75.500 millions from Syndicate Bank Credit Limit: Rs. 13.000 millions from Corporation Bank |
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Banking Relations
: |
Good |
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Auditors : |
Ø Sriramulu Naidu & Company Chartered Accountants Manipal, Karnataka, India Ø Anathanarayana and Company Chartered Accountants Udupi |
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Associates : |
Manipal Group of Companies |
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Membership : |
Ø Bank Stationers Association Inc., USA Ø Graphic Arts Foundation, USA Ø PIRA, UK |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- |
Rs. 200.000 millions |
|
5000000 |
Redeemable Preference Shares |
Rs. 10/- |
Rs. 50.000 millions |
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|
Total |
|
Rs.250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2213688 |
Equity Shares |
Rs. 10/- |
Rs.22.137 millions |
|
3000000 |
Redeemable Preference Shares |
Rs. 10/- |
Rs.30.000 millions |
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Total |
|
Rs.52.137 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2002 |
31.03.2001 |
31.03.2000 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
9.000 |
9.000 |
9.000 |
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|
2] Reserves & Surplus |
205.600 |
192.800 |
183.230 |
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NETWORTH
|
214.600 |
201.800 |
192.230 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
122.400 |
64.500 |
73.120 |
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2] Unsecured Loans |
25.500 |
21.800 |
11.000 |
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TOTAL BORROWING
|
147.900 |
86.300 |
84.120 |
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TOTAL
|
362.500 |
288.100 |
276.350 |
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APPLICATION OF
FUNDS
|
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|
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FIXED ASSETS [Net
Block]
|
281.900 |
232.600 |
236.870 |
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Capital
work-in-progress
|
13.400 |
0.000 |
0.000 |
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|
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INVESTMENT
|
0.000 |
0.000 |
0.020 |
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CURRENT ASSETS,
LOANS & ADVANCES
|
|
|
|
|
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Inventories
|
32.100
|
30.500 |
25.440 |
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|
Sundry Debtors
|
78.500
|
53.900 |
43.330 |
|
|
Cash & Bank
Balances
|
2.600
|
0.600 |
1.600 |
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|
Loans &
Advances
|
24.000
|
14.900 |
11.920 |
Total
Current Assets
|
137.200
|
99.900 |
82.290 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
72.600
|
45.400 |
44.090 |
|
Total
Current Liabilities
|
72.600
|
45.400 |
44.090 |
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Net Current Assets
|
64.600
|
54.500 |
38.200 |
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MISCELLANEOUS
EXPENSES
|
2.600 |
1.000 |
1.260 |
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TOTAL
|
362.500 |
288.100 |
276.350 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2002 |
31.03.2001 |
31.03.2000 |
Total Income
|
328.400 |
258.100 |
60.110 |
|
|
|
|
|
Profit/(Loss)
Before Tax
|
20.600 |
12.500 |
4.660 |
Provision for
Taxation
|
6.300 |
3.800 |
1.000 |
Profit/(Loss) After
Tax
|
14.300 |
8.700 |
3.660 |
|
|
|
|
|
|
Total Earnings |
0.600 |
0.000 |
0.700 |
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|
|
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Total Imports |
12.400 |
1.300 |
26.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2002 |
31.03.2001 |
31.03.2000 |
PAT / Total Income
|
(%)
|
4.35
|
3.37 |
6.08 |
|
|
|
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|
Net Profit Margin
(PBT/Sales) |
(%) |
6.27
|
4.84 |
7.75 |
|
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|
Return on Total
Assets
(PBT/Total Assets} |
(%) |
4.76
|
3.75 |
1.46 |
|
|
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|
|
|
Return on
Investment (ROI)
(PBT/Networth) |
|
0.09
|
0.06 |
0.02 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
2.02
|
1.65 |
1.66 |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current Liability) |
|
1.89
|
2.20 |
1.86 |
LOCAL AGENCY
FURTHER INFORMATION
History
The company was Partnership concern reconstituted on 28.11.1999, with name and style of ‘Manipal Power Press’. Later on it has converted as Joint Stock company on 13.01.2000 with the name and style of “Manipal Press Private Limited”.
Again the company has been converted as public limited company w.e.f. 04.04.2000.
The company’s Security Products are as under :
Ø FD (Fixed Deposit) Receipts
Ø Gift Vouchers, Food Coupons
Ø Game Tickets, Passes, Booklets
Ø Scratch off Cards/Tickets and other promotional security
Ø Statement of Accounts
Ø Billing Statements
Ø OCR/OMR Sheets with Bar Coding
Ø Boarding Pass for Airlines
Ø ATM Rolls
Ø Fax Rolls
Ø On line Lottery Tickets
Ø On line Lottery AuthenticationTicket Rolls
Ø Other High Security Items
Ø Cheques
Ø Demand Drafts
Ø Pay Orders
Ø Personalised Cheques with MIRC Numbering
Profile
The company was established in the year 1941 as Manipal Power Press with the firm belief that keen enterprise and refined professionalism lead to success.
The company lead Security Printing in India and are one of the largest Stationery and Commercial Printers.
Born out of a vision to perfect the printed word, the Manipal Press Limited (MPL) is now at the center of India’s Print Revolution.
It has grown with the times to embrace the latest in technology, and to offer
clients quality and punctuality at costs that make business sense.
In fact, this state-of-the-art 100,000 sq.ft. facility today offers 360 degree
solutions for all print-related projects.
Started in 1941, MPL prints a large variety of products in the commercial,
security, business forms and digital categories. Its advanced pre-press and
post-press divisions offer complete services from product design and
development to logistics.
Subject’s allied media-house Manipal Media Network Limited provides the vital
experience and link with publishing, while its BPO division, Manipal
Informatics, ensures 24x7 connectivity that always keeps MPL on its toes.
Vigil is incorporated into every step and the best quality assurance tools are
deployed. It’s no wonder then that the last 5 years have seen subject grow in
international presence. In the end, it’s all about Precision and Perfection in
Printing.
Services
Subject offers complete Print Management Services to cover all your printing requirements.
Subject is in touch with the growing demands and technological leaps in the industry to provide optimal print solutions from Pre-Press to Press to Post-Press.
In fact, it doesn’t stop with printing. Subject is probably the only one of its
kind to offer Business Process Outsourcing facilities to handle your downstream
marketing, order taking, support and other requirements.
Manipal Informatics, a wholly owned subsidiary of Manipal Press, is its
typesetting, origination & e-publishing and BPO division and already
handles CRM for many offshore clients. Other examples of MPL's synergy with IT
include:
Infone Communications Inc., USA for its Business Directory printing,
e-commerce applications and direct
marketing.
Sahara Homes, UK for its Catalogue designing and printing, and e-commerce applications.
Daminis, UK for its Stationery printing and e-commerce applications.
While in India, subject handles complete
print solutions from books to mark sheets, and multimedia courseware
development for the e-learning initiative of the Manipal Academy for Higher Education (MAHE), the country’s largest
private university.
Products
The subject
offers a comprehensive range of highly specialized print solutions covering the
entire gamut of products from high-quality commercial printing to classified
security printing. This has made it one of the most sought-after printing
facilities in India. The ability to optimally utilize resources to handle
unprecedented and uncommon jobs of any volume resulting in greater cost
efficiency for customers is its biggest USP.
Commercial Products
Books
Directories
Magazines
Catalogues
Promotional Material
Annual Reports
Direct Mailers
Calendars
Comics
Diaries
Business Stationery
Security Products
Bond and Bearer Securities
Traveler's Cheques
Bank Cheques
Demand Drafts
Pay Orders
Share Certificates
Dividend Warrants
Interest Warrants
FD Receipts
Food Coupons
Scratch Cards
High-value Event, Lotto Tickets
Personalised Cheques with MIRC Numbering
Business Forms
Air Waybills
Bank Statements
Mark Sheets
Pre-printed Stationery
Direct Mailers
Vouchers and Invoices
Security Products available in the continuous stationery form:
Cheques
Demand Drafts
Dividend Warrants
Interest Warrants
Bond and Bearer Securities
Share Certificates
FD Receipts
Confidential Documents
Card Products
Telephone cards
Promotional scratch cards
Magnetic swipe cards
Digital Variable Data
Direct Mailers
Telephone Bills
Utility Bills
Frequent Flyer Statements
On-demand Books
Personalized Catalogues
Instruction Manuals
Personalized Security Products
It is in trade terms with :
Ø Bank of India
Ø Dhanalakshmi Bank
Ø Lord Krishna Bank
Ø Mangalore Chemicals and Fertilisers
Ø Nagarjuna Fertilisers and Chemicals Limited
Ø Reliance Capital Limited
Ø Reliance Industries Limited
Ø Reliance Petroleum Limited
Ø Syndicate Bank
Ø The Jindal Vijayanagar Steel Limited
Ø Vijaya Bank
Ø Canara Bank
Ø Indian Overseas Bank
Ø Karnataka Bank
Ø Manipal Academy of Higher Education
Ø Manipal Media Network Limited
Ø PVS Group
Ø Syndicate Bank
Ø BASF
Ø Bostic India Limited
Ø C.P. Aquaculture India Limited
Ø Can Fin Homes Limited
Ø DHL Worldwide Express
Ø Hindustan Lever Limited
Ø HPCL
Ø I.N.G. Vysya Bank
Ø Jindal Vijayanagar Steels
Ø Kirloskar Electric Company Limited
Ø Life Insurance Corporation India Limited
Ø Mangalore Refinery and Petrochemicals Limited
Ø Premier Instruments and Controls Limited
Ø Reliance Industries Limited
Ø Standard Chartered Grindlays Bank Limited
Ø Taj GVK Hotesl
Ø Toyota Kirloskar Motors
Ø TVS Motors Limited
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
|
UK Pound |
1 |
Rs.86.87 |
|
Euro |
1 |
Rs.58.53 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
74 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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