MIRA
INFORM REPORT
|
Report Date : |
29.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
MANU YANTRALAYA PRIVATE LIMITED |
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Registered
Office : |
F-701, Sitapura Industrial Area, Jaipur – 302022, Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.03.1995 |
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Com. Reg. No.: |
17-009795 |
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CIN No.: [Company Identification
No.] |
U31403RJ1995PTC009795 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JPRM00604C JPRM02448F JPRM02814A |
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PAN No.: [Permanent Account No.] |
AACCM0082F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Exporters of Bearing
Cage, Dust Shield and
Sheet Metal
Components |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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 351000 |
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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 concern can be considered normal for business dealings 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
|
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 |
LOCATIONS
|
Registered Office : |
F-701, Sitapura Industrial Area, Jaipur – 302022, |
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Tel. No.: |
91-141-2771412 |
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Fax No.: |
91-141-2771410 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Anurag Banthia |
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Designation : |
Director |
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Address : |
A-1, Ganesh Marg, Hawa Sarak, Jaipur – 302006, |
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Date of Birth/Age : |
04.03.1960 |
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Date of Appointment : |
16.08.2006 |
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DIN : |
01168234 |
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Name : |
Mr. Mahendra Kumar Banthia |
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Designation : |
Director |
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Address : |
A-1, Ganesh Marg, Hawa Sarak, Jaipur – 302006, |
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Date of Birth/Age : |
30.09.1953 |
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Date of Appointment : |
16.08.2006 |
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DIN : |
01168155 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Anurag Banthia |
|
966 |
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Mahendra Kumar Banthia |
|
112139 |
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Abhinav Banthia |
|
15110 |
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P L Banthia |
|
6500 |
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Rochis Mathur |
|
285 |
|
CMSP Metal Stamping India Private Limited, |
|
3430 |
|
Tristar Agencies Private Limited |
|
500 |
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Galore Supplies Private Limited |
|
500 |
|
S K Stock Dealer Private Limited |
|
500 |
|
Slow and Sound Electronics Private limited |
|
500 |
|
Elegance Trade and Holdings Private limited |
|
500 |
|
Radiant Merchandise Private Limited |
|
500 |
|
Chartered Finlease Limited |
|
800 |
|
Raghunandan Reyons Limited |
|
100 |
|
New Planet Trading Company Private Limited |
|
80 |
|
Kush Hindustan Entertainment Limited |
|
40 |
|
New Planet Trading Company Private Limited |
|
120 |
|
Realgold Trading Company Private Limited |
|
80 |
|
Lexus Infotech Limited |
|
40 |
|
Welon Advisory Services Private limited |
|
500 |
|
MSV Fiscal Promotion Private Limited |
|
500 |
|
|
|
500 |
|
Achi finance and management consultancy private limited |
|
500 |
|
Oleander manufacturers and credit private limited |
|
500 |
|
Echolac vinimay private limited |
|
500 |
|
Total |
|
145690 |
As on 30.09.2010
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
7.34 |
|
Directors or relatives of Directors |
92.47 |
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Other top fifty shareholders |
0.19 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Bearing
Cage, Dust Shield and
Sheet Metal
Components |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
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Installed
Capacity |
18.00 million
Sets |
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Actual
Production |
14.60 million
Sets |
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GENERAL INFORMATION
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Customers : |
·
TOHO Industrial Company Limited, ·
National Engineering Industries Limited, ·
National Engineering Industries Limited, ·
SKF Bearings India Limited, ·
SKF Bearings India Limited, ·
NRB Bearings Limited, ·
FAG Bearings India Limited, ·
The Tata Iron and Steel Company Limited
(Bearing Division), Kharagpur, ·
CMSP Group, ·
CMSP Group, |
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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 : |
Ramesh C Jain and Associates Chartered Accountant |
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Address : |
610, Bordi ka Rasta, Kishanpole Bazar, Jaipur – 302003, |
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Tel. No.: |
91-141-2324732 / 2322306 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
195,000 |
Equity Shares |
Rs.100/-each |
19.500 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
145,690 |
Equity Shares |
Rs.100/-each |
14.569 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
14.569 |
14.569 |
13.843 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
73.426 |
64.739 |
21.371 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
87.995 |
79.308 |
35.214 |
|
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LOAN FUNDS |
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|
1] Secured Loans |
35.109 |
42.180 |
18.912 |
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2] Unsecured Loans |
0.000 |
0.882 |
3.973 |
|
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TOTAL BORROWING |
35.109 |
43.062 |
22.885 |
|
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DEFERRED TAX LIABILITIES |
4.203 |
3.708 |
1.454 |
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TOTAL |
127.307 |
126.078 |
59.553 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
68.162 |
75.433 |
38.908 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.123 |
3.503 |
0.003 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
32.057
|
27.039 |
21.761 |
|
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Sundry Debtors |
59.034
|
42.344 |
40.861 |
|
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Cash & Bank Balances |
0.904
|
0.124 |
0.013 |
|
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Other Current Assets |
11.667
|
12.921 |
6.875 |
|
|
Loans & Advances |
13.568
|
1.505 |
3.712 |
|
Total
Current Assets |
117.230
|
83.933 |
73.222 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
23.803
|
14.520 |
17.285 |
|
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Other Current Liabilities |
33.072
|
20.874 |
33.939 |
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Provisions |
5.362
|
1.449 |
1.430 |
|
Total
Current Liabilities |
62.237
|
36.843 |
52.654 |
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Net Current Assets |
54.993
|
47.090 |
20.568 |
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MISCELLANEOUS EXPENSES |
0.029 |
0.052 |
0.074 |
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TOTAL |
127.307 |
126.078 |
59.553 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
286.194 |
242.545 |
209.873 |
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Other Income |
1.702 |
5.696 |
0.433 |
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TOTAL (A) |
287.896 |
248.241 |
210.306 |
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Less |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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Finance Expenses |
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TOTAL (B) |
264.164 |
229.983 |
200.703 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
23.732 |
18.258 |
9.603 |
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Less/ Add |
DEPRECIATION/ AMORTISATION |
10.464 |
6.790 |
4.700 |
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PROFIT BEFORE
TAX |
13.268 |
11.468 |
4.903 |
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Less |
TAX |
5.036 |
3.675 |
1.525 |
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PROFIT AFTER TAX |
8.232 |
7.793 |
3.378 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
83.627 |
54.361 |
21.796 |
|
|
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Other Earnings |
0.272 |
0.650 |
0.000 |
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TOTAL EARNINGS |
83.899 |
55.011 |
21.796 |
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IMPORTS |
|
|
|
|
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|
Raw Materials |
1.849 |
3.335 |
3.812 |
|
|
|
Consumables |
0.638 |
0.089 |
0.295 |
|
|
|
Capital Goods |
2.280 |
23.324 |
0.000 |
|
|
TOTAL IMPORTS |
4.767 |
26.748 |
4.107 |
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|
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|
Earnings Per
Share (Rs.) |
56.51 |
53.49 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.86
|
3.14 |
1.61 |
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|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
4.64
|
4.73 |
2.34 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.16
|
7.20 |
4.37 |
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.14 |
0.14 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.11
|
1.01 |
2.15 |
|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
2.28 |
1.39 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office address of the company has
been shifted from G1-800, Sitapura Industrial Area, Sanganer, Jaipur – 302022,
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90069210 |
|
Corporate
identity number of the company |
U31403RJ1995PTC009795 |
|
Name of the
company |
MANU YANTRALAYA
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
F-701,Sitapura
Industrial Area, Jaipur, Rajasthan – 302022, |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
1. Letter of
Arrangement 2. Supplemental
Agreement of Loan-cum-Hypothecation 3. Memorandum for
recording extension of mortgage by deposit of title deeds |
|
Date of
instrument Creating the charge |
24.01.2009 |
|
Amount secured by
the charge |
Rs.60.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest at 1.00% below BPLR with a minimum of 11.75% P.A. Additional
interest of 1% over the regular WC facilities will be applicable on
fund-based credit facility under SLC. Terms of
Repayment - Repayable on Demand. Margin - 25% on
Raw Material 30% on
SIP/Finished Goods 40% on Book-Debts 25% uniform or as
prescribed by RBI, whichever is higher(For EPC). 20% in cash/FDR
duly discharged under bank's lien(For Bank Guarantee) Extent and
Operation of the charge - First Charge over the entire Current and fixed assets of the company present and
future to the extent of Rs. 60.500 Millions. |
|
Short particulars
of the property charged |
First charge on all
the current and fixed assets of the Company present and future. E.M. of land and
Building situated at G1-800, Sitapura Industrial Area, Jaipur in the name of
M/s Manu Yantralaya Private Limited. E.M.of land and Building situated at
F-701, Sitapura Industrial Area, Jaipur in the name of the Company E.M.of the land
and building of M/s Manu Yantralaya, situated at plot no.F-967, Road No. 14,
VKIE, Jaipur.E.M. of residential plot 1/609, Vidhyadhar Nagar, Jaipur, in the
name of Sh. M K Banthia. |
|
Date of latest
modification prior to the present modification |
31.08.2007 |
|
Particulars of
the present modification |
CC(Hypo) Limit
Enhanced from 35.000 Millions to 43.500 Millions. (Sub Limit on Book-Debts
within CC enhanced to 15.000 millions, EPC within CC enhanced to 17.500
millions, PSC within CC enhanced to 17.500 millions) SLC(WC) Limit of
Rs 6.500 Millions, STCL Limit of Rs 10.000 Millions and Bank Guarantee of Rs
0.500 Millions, Comprising the overall limit of Rs 60.500 millions. |
FIXED ASSETS :
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Cycles
- Car
- Computers
- Computer Softwares
- Electric Equipment
- Mobile Equipment
- Loading Vehicles
AS PER WEBSITE
HISTORY
Subject was established
in 1988 at Jaipur for initially manufacturing gasket for spark plugs. In 1989,
they started manufacturing semi-finished Ball Bearing Cages for National
Engineering Industries,
Keeping ourselves in
tune with time, they started manufacturing "Turned Races" of ball
bearing for FAG,
they then developed
Ball Bearing Dust Shield and started supplying them to FAG in 1997.
In 1998, transfer
lines from
It was year 2000
when we received ISO 9001:2000 compliance for their manufacturing unit.
FUTURE PLAN
Subject has been
setting higher and higher targets each year and all of them here at Manu have
been working hard to achieve them.
Their future plan is
to seek exponential growth in every endeavor, developing global relations and
try removing all the possible friction from this world with their components.
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.44.33 |
|
|
1 |
Rs.74.13 |
|
Euro |
1 |
Rs.65.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.