MIRA
INFORM REPORT
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Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MANAS MICROSYSTEMS PRIVATE LIMITED |
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Registered Office : |
Row House No. 5, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
26.03.1998 |
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Com. Reg. No.: |
11-114194 |
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CIN No.: [Company
Identification No.] |
U29196MH1998PTC114194 |
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IEC No.: |
3199006230 |
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PAN No.: [Permanent
Account No.] |
AABCM2639R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Electro Magnetic Flow Meters. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 24000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Ms. Sujata |
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Designation : |
Works Manager |
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Contact No.: |
91-9860792276 |
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Date : |
22.04.2011 |
LOCATIONS
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Registered Office : |
Row House No. 5, |
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Tel. No.: |
91-20-24336712 / 227127044 |
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Mob No: |
91-9860792276 (Ms. Sujata) |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft. |
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Location : |
Owned |
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Factory : |
EL-54, Electronic Zone, MIDC, Bhosair, Pune – 411 026, |
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Tel. No.: |
91-20-27127044 / 27127858 / 27127047 |
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Fax No.: |
91-20-27127045 |
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E-Mail : |
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Area : |
1464 Sq. meter |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Shrikant Vishnu Sahasrabudhe |
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Designation : |
Director |
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Address : |
Row House No. 5, |
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Date of Birth/Age : |
19.08.1949 |
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Qualification : |
BE |
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Date of Appointment : |
26.03.1998 |
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Name : |
Mrs. Madhura Shrikant Sahasrabudhe |
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Designation : |
Director |
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Address : |
Row House No. 5, |
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Date of Birth/Age : |
15.03.1956 |
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Qualification : |
BE |
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Date of Appointment : |
26.03.1998 |
KEY EXECUTIVES
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Name : |
Ms. Sujata |
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Designation : |
Works Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
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Names of Shareholders (Equity A) |
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No. of Shares |
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Shrikant Vishnu Sahasrabudhe |
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19998 |
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Madhura Shrikant Sahasrabudhe |
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20000 |
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Sandhya Arvind Gokhale |
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1 |
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Sahasrabudhe Shrikant Nachiket |
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1 |
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Total |
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40000 |
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Names of Shareholders (Equity B) |
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No. of Shares |
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Shrikant Vishnu Sahasrabudhe |
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510 |
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Madhura Shrikant Sahasrabudhe |
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9490 |
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Total |
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10000 |
As on 30.09.2009
Equity share
breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Electro Magnetic Flow Meters. |
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Products : |
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Exports : |
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Products : |
Electro Magnetic Flow Meters |
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Countries : |
v
v
US v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS As on 31.03.2009
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Particulars |
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Actual
Production |
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Flow Meters |
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350 No. per year
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GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
S L Apte and Company Chartered Accountant |
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Address : |
03/ Pritam – B Apartments, S.No.16110, Kothrud, Pune – 411 038, |
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Tel No: |
91-20-25411496 |
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Pan No : |
AAZPA3303R |
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E-Mail : |
slapte@gmail.com |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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40000 |
Equity Shares |
Rs.10/- each |
Rs.0.400 million |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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Total |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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40000 |
Equity Shares |
Rs.10/- each |
Rs.0.400 million |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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Total |
Rs.0.500 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.500 |
0.500 |
0.500 |
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3] Reserves & Surplus |
5.033 |
3.970 |
2.925 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.033 |
4.970 |
3.925 |
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LOAN FUNDS |
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1] Secured Loans |
0.469 |
1.894 |
1.825 |
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2] Unsecured Loans |
3.265 |
2.798 |
2.501 |
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TOTAL BORROWING |
3.734 |
4.692 |
4.326 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.767 |
9.662 |
8.251 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.192 |
3.114 |
3.411 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.338 |
0.417 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.760
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4.088
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3.602
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Sundry Debtors |
2.703
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3.330
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2.727
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Cash & Bank Balances |
1.596
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1.069
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1.201
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Other Current Assets |
1.622
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1.741
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0.373
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Loans & Advances |
0.052
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0.000
|
0.820
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Total
Current Assets |
10.733
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10.228
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8.723
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.978
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2.303
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3.163
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Provisions |
1.518
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1.795
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0.723
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Total
Current Liabilities |
4.496
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4.098
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3.886
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Net Current Assets |
6.237
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6.130
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4.837
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.003 |
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TOTAL |
9.767 |
9.662 |
8.251 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
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Other Income |
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TOTAL |
19.924 |
13.742 |
17.812 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
18.422 |
12.516 |
16.079 |
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PROFIT BEFORE
TAX |
1.502 |
1.226 |
1.733 |
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Less |
TAX |
0.384 |
0.181 |
0.237 |
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PROFIT AFTER TAX
|
1.118 |
1.045 |
1.496 |
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EARNINGS IN
FOREIGN CURRENCY |
1.108 |
NA |
NA |
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Earnings Per
Share (Rs.) |
22.36 |
20.90 |
NA |
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Particulars |
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31.03.2011 |
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Sales Turnover |
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25.500 |
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Expected Sales (2011-12) : Rs.28.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
5.61
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7.60
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8.40
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Net Profit Margin (PBT/Sales) |
(%) |
7.54
|
8.92
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9.73
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.79
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9.19
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14.28
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Return on Investment (ROI) (PBT/Networth) |
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0.25
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0.27
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0.44
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Debt Equity Ratio (Total Liability/Networth) |
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1.36
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0.82
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2.09
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Current Ratio (Current Asset/Current Liability) |
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2.39
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2.50
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2.24
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LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
MANAS MICROSYSTEMS PRIVATE LIMITED |
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Presented By |
Mr. Shrikant V Sahasrabudhe, Director |
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1) Date and description of instrument creating the change |
14.03.2004.
Agreement of Hypothecation |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit
Rs.1.000 millions Bank Guarantee:-
Rs.0.200 million Inland/ Foreign/
L/C:-Rs.0.200 million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Stock
and Debtors, Moveable Property |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest:
11.50% Margin : Not
Exceeding 75% against materials Finished Goods Repayment
Reviewed after 15 months |
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5) Name and Address and description of the person entitled to the charge. |
The United
Western Bank Limited Lokmanya Nagar
Branch, Pune |
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6) Date and brief description of instrument modifying the charge |
10.06.2004
Memorandum of Oral Assent |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
1st
modification: No agreement is executed however a copy of memorandum of oral
Assent is enclosed. Mortgaged of property bearing plot No. EL- 54 admeasuring
about 1464 sq. mtr. In the Pimpari Chinchwad Industrial Area along with
construction, Structure and Plant and Machinery and First charge on gross
block by way of registered mortgage. |
TRADE REFERENCES
v
Bajaj
Auto Limited
v
Tata
Motors, All Over
FIXED ASSETS
v
Land
v
Building
v
Flow-Lab
v
Plant and Machinery
v
Car
v
Scooter / Bicycle
v
Tools / Jigs / Fixtures
v
Furniture and Fixtures
v
Electric Installation
v
Telephone / Telefax / Fax
v
Factory / Stores Equipments
v
Safety Equipments
v
Laboratory / Testing Equipment
v Computer / Allied
Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.40 |
|
|
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
Capability to overcome financial difficulties seems comparatively below
average. |
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 |
|
NB |
New Business |
-- |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.