MIRA
INFORM REPORT
|
Report Date : |
31.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
MANJUSHREE TECHNOPACK LIMITED (w.e.f.21.05.2009) |
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Formerly Known As: |
MANJUSHREE EXTRUSIONS LIMITED |
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Registered Office : |
Plot No. 143-C5, Bommasandra Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
13.11.1987 |
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Com. Reg. No.: |
08-32636 |
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CIN No.: [Company
Identification No.] |
L67120KA1987PLC032636 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM15100B |
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Legal Form : |
Public limited liability of the company. The company shares are listed
on stock exchange. |
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Line of Business : |
Manufacturer and Exporter of Pet Products, Packaging Bottles Jars,
Plastic and PVC PU Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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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 2700000 |
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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 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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Suresh |
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Designation : |
Accounts Department |
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Date : |
28.01.2011 |
LOCATIONS
|
Registered Office/Unit 1 : |
Plot No. 143-C5, Bommasandra Industrial Area, |
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Tel. No.: |
91-80-43436100 |
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Mobile No.: |
91-9379913008 (Mr. Ankit) |
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Fax No.: |
91-80-27833819 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory /Unit II : |
Innovation Division, 60-E, Bommasandra Industrial Area, |
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Tel. No.: |
91-80-43436200 |
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Fax No.: |
91-80-27832245 |
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E-Mail : |
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Location : |
Owned |
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Sales and
Marketing Offices : |
Located At :
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DIRECTORS
As on 31.03.2010
|
Name : |
Mr. Vimal Kedia |
|
Designation : |
Managing Director |
|
Address : |
180, Classic Orchards, |
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Date of Birth/Age : |
08.08.1956 |
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Date of Appointment : |
25.09.2003 |
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Name : |
Mr. Surendra Kedia |
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Designation : |
Whole time Director |
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Address : |
179, Classic Orchards, |
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Date of Birth/Age : |
15.04.1963 |
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Date of Appointment : |
25.09.2003 |
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Name : |
Mr. Radheshyam P. Agarwal |
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Designation : |
Director |
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Address : |
F-503, Mittal Tower, 6, m. G. road, Bangalore-560 001, Karnataka,
India |
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Date of Birth/Age : |
15.03.1937 |
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Date of Appointment : |
26.12.2005 |
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Name : |
Mr. Narendra Kumar Sarawgi |
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Designation : |
Director |
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Address : |
Flat 1107, |
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Date of Birth/Age : |
19.06.1956 |
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Date of Appointment : |
30.09.2003 |
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Name : |
Mr. G. Vamanacharya |
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Designation : |
Director |
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Address : |
No.4, 7 Main Khm Block RT Nagar, P O Bangalore-560 030, |
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Date of Birth/Age : |
14.07.1942 |
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Date of Appointment : |
30.09.2003 |
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Name : |
Mr. Rajat Kedia |
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Designation : |
Whole time Director |
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Address : |
180, Classic Orchards, |
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Date of Birth/Age : |
23.01.1981 |
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Date of Appointment : |
27.05.2010 |
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Name : |
Mr. Ankit Kedia |
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Designation : |
Whole time director |
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Address : |
180, Classic Orchards, |
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Date of Birth/Age : |
07.04.1984 |
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Date of Appointment : |
27.05.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Kumar Kayal |
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Designation : |
Company Secretary |
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Address : |
60 E, Bommasandra Industrail Area, Hosur Road, Bangalore-560 099, |
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Date of Birth/Age : |
31.10.1979 |
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Date of Appointment : |
01.04.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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1,597,050 |
11.79 |
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6,145,308 |
45.36 |
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7,742,358 |
57.15 |
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Total shareholding of Promoter and Promoter Group (A) |
7,742,358 |
57.15 |
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(B) Public Shareholding |
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|
100,000 |
0.74 |
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338,500 |
2.50 |
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438,500 |
3.24 |
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1,796,518 |
13.26 |
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2,595,614 |
19.16 |
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|
729,421 |
5.38 |
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|
245,289 |
1.81 |
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152,682 |
1.13 |
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|
92,607 |
0.68 |
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5,366,842 |
39.61 |
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Total Public shareholding (B) |
5,805,342 |
42.85 |
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Total (A)+(B) |
13,547,700 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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- |
- |
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- |
- |
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- |
- |
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Total (A)+(B)+(C) |
13,547,700 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 millionAs on 31.08.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.63 |
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Bodies
corporate |
|
64.40 |
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Directors
or relatives of directors |
|
11.79 |
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Other
top fifty shareholders |
|
5.34 |
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Mutual
funds |
|
0.74 |
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Other
|
|
16.10 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pet Products, Packaging Bottles Jars,
Plastic and PVC PU Products. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
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Licensed
Capacity* |
Installed
Capacity** |
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PET Stretch Blow Moulded Containers |
MTPA |
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- |
7010 |
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Carboys, Bottles, Flasks, Preforms and similar articles of plastics |
MTPA |
|
50000 |
22200 |
(*) Based on SIA Registrations obtained by the
Company.
(**) Based on triple shift operation assuming
300 working days a year as certified by the management, which has been relied
upon by the Auditors being a technical matter.
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
State Bank of |
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Facilities : |
Note: Above facilities are secured by hypothecation of all movable
assets, Raw Materials, Finished goods, Stores, Spare parts, Book Debts,
pledge of Fixed Deposit receipts and first charge of fixed assets located at
all units. |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Sharma and Pagaria Chartered Accountants |
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Address : |
8, 4th Floor, Lakshmi Complex, 40, K. R. Road,
Bangalore-560 002, |
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Tel. No.: |
91-80-26707436/26700106 |
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Associates/Subsidiaries : |
·
Mphinite Technologies Private Limited (MTPL) ·
Mphinite Solutions Private Limited (MSPL) |
CAPITAL STRUCTURE
As on 31.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Share |
Rs.10/- Each |
Rs.150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13547700 |
Equity Share |
Rs.10/- Each |
Rs.135.477
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
135.477 |
135.477 |
135.477 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
548.965 |
459.089 |
400.013 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
684.442 |
594.566 |
535.490 |
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LOAN FUNDS |
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1] Secured Loans |
511.429 |
182.630 |
113.364 |
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2] Unsecured Loans |
198.436 |
111.630 |
19.093 |
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TOTAL BORROWING |
709.865 |
294.260 |
132.457 |
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DEFERRED TAX LIABILITIES |
57.629 |
35.911 |
16.903 |
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TOTAL |
1451.936 |
924.737 |
684.850 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
919.344 |
579.200 |
316.434 |
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Capital work-in-progress |
0.637 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
200.886
|
161.905
|
118.689 |
|
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Sundry Debtors |
269.230
|
158.627
|
140.968 |
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|
Cash & Bank Balances |
79.417
|
4.394
|
92.574 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
154.993
|
83.479
|
82.640 |
|
Total
Current Assets |
704.526
|
408.405
|
434.871 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
121.535
|
34.931 |
55.555 |
|
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Other Current Liabilities |
12.554
|
13.792 |
5.181 |
|
|
Provisions |
44.160
|
20.438 |
17.072 |
|
Total
Current Liabilities |
178.249
|
71.383
|
77.808 |
|
|
Net Current Assets |
526.277
|
337.022
|
357.063 |
|
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|
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MISCELLANEOUS EXPENSES |
5.678 |
8.515 |
11.353 |
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|
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TOTAL |
145.936 |
924.737 |
684.850 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1490.324 |
1055.957 |
851.844 |
|
|
|
Other Income |
4.921 |
4.939 |
2.552 |
|
|
|
TOTAL (A) |
1495.245 |
1060.896 |
854.396 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
817.259 |
569.494 |
|
|
|
|
Other Manufacturing Expenses |
413.909 |
261.933 |
|
|
|
|
Administrative and Selling Expenses |
68.376 |
56.089 |
736.299 |
|
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|
Public issue expenses written off |
2.838 |
2.838 |
|
|
|
|
Increase/(Decrease) in Stocks |
(94.269) |
(7.930) |
|
|
|
|
TOTAL (B) |
1208.113 |
882.424 |
736.299 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
287.132 |
178.472 |
118.097 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.904 |
14.438 |
16.799 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
253.228 |
164.034 |
101.298 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
97.474 |
49.392 |
33.599 |
|
|
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|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
155.754 |
114.642 |
67.699 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
50.028 |
39.716 |
23.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
105.726 |
74.926 |
44.017 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
62.848 |
43.772 |
84.681 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
9.000 |
4.000 |
80.000 |
|
|
|
Proposed Dividend |
13.548 |
13.548 |
0.00 |
|
|
|
Tax on Dividend |
2.302 |
2.302 |
0.000 |
|
|
BALANCE CARRIED TO
THE B/S |
143.724 |
62.848 |
43.772 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
55.237 |
54.578 |
56.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
103.683 |
111.140 |
NA |
|
|
|
Stores & Spares |
182.500 |
2.690 |
NA |
|
|
|
Capital Goods |
211.853 |
220.682 |
NA |
|
|
TOTAL IMPORTS |
498.036 |
334.512 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.80 |
5.53 |
- |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2010 (1st
Quarter) |
30.09.2010 (2nd
Quarter) |
|
Net Sales |
|
570.890 |
423.260 |
|
Total Expenditure |
|
438.100 |
332.190 |
|
PBIDT (Excl OI) |
|
132.790 |
91.070 |
|
Other Income |
|
0.670 |
5.550 |
|
Operating Profit |
|
133.460 |
96.620 |
|
Interest |
|
12.240 |
8.400 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
121.220 |
88.210 |
|
Depreciation |
|
41.880 |
45.360 |
|
Profit Before Tax |
|
79.340 |
42.850 |
|
Tax |
|
26.800 |
15.070 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
52.540 |
27.780 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
52.540 |
27.780 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.07
|
7.06 |
5.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.45
|
10.86 |
7.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.59
|
11.61 |
9.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.19 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.30
|
0.61 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.95
|
5.72 |
5.59 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
For goods
|
|
|
|
|
Due to Micro,
small and medium Enterprises |
0.453 |
1.673 |
39.412 |
|
Others |
50.513 |
14.155 |
16.142 |
|
For Expenses |
70.569 |
19.102 |
5.181 |
PERFORMANCE HIGHLIGHTS:
The turnover for FY 2010 was higher at Rs.1600.542 millions (2009 - Rs.1187.876 millions) reflecting an increase of 35%. The gross profit during FY 2010 was higher at Rs.353.425 millions (2009 - Rs.232.461 millions) reflecting an increase of 52%, while the operating profit showed a jump of 62% to Rs.285.049 millions (2009 - Rs.176.371 millions). The profit before tax during FY 2010 was also higher at Rs.155.754 millions (2009 - Rs.114.641 millions) reflecting an increase of 36%. After provision for taxation, the net surplus amounted to Rs.105.726 millions (2009 - Rs.749.26lacs) resulting in a fully diluted EPS of Rs.7.80 (2009 - Rs.5.53). The notes on accounts referred to in Auditors Report are self-explanatory and do not call for any further comments.
OPERATIONS
Overall installed capacity of plant has increased to 29,210 MTPA in view of expansion cum diversification project completed during the year, as compared to 21,740 MTPA as at the end of the previous year. The major expansion is for the manufacture of PET Preforms to the tune of 6,360 MTPA and the balance of 1,110 MTPA capacities have been added for the manufacture of containers. The actual production of containers and preforms during the year amounted to 10,827 MT (2009 - 6,782 MT) excluding conversion jobs of 10,944 MT (2009 - 2,587) resulting in a capacity utilisation of 75% of year- end installed capacity on absolute basis, (92% is the capacity utilisation in reality terms) which is due to the fact that the capacity additions have been made during the end of 3rd quarter of the financial year. The turnover of manufactured items was 9,711 MT (2009 - 7,199 MT). The Company continues to have a strong focus on innovation, research and development for sustained growth while enjoying a preferred supplier status with most of its esteemed clientele in FMCG, Pharma and allied sectors. It has a dedicated team of technically qualified / trained personnel and professionals controlling different operational segments in a decentralized environment.
FINANCE
During the year, the Company has continued to avail financial assistance from State Bank of India India
EXPANSION CUM DIVERSIFICATION PROJECT:
The Company’s expansion cum diversification project at an estimated outlay of Rs.537.000 Millions, as envisaged in the composite issue has been duly completed in all respect.
During the financial year 2009 -10, the Company has further increased its manufacturing capacity to 29,210MTPA by adding two more machines for manufacture of PET Preforms. The capital requirement for the expansion has already been arranged through Term loan from the bank and from internal accruals. While internal accruals has already been ploughed back the disbursal from the Term loan will take place on the due dates during the current financial year i.e. 2011-12.
The Company now, has made a further capacity expansion plan for the ensuing financial year, wherein the capacity will be further increased by 1200MTPA in the container segment. The Preform production capacity enhancement is also being drawn up, which is expected to be implemented during third quarter of this year. The Company is working with their banker for funding this expansion.
CHANGE IN NAME OF THE COMPANY
Pursuant to approval of members at the last Annual General Meeting of the Company held on 30th August, 2008 and requisite approvals received from the appropriate government authorities and the Registrar of Companies, Karnataka, Bangalore (ROC), the name of the company has been changed to "Manjushree Technopack Limited" pursuant to a fresh Certificate of Incorporation dated 21st May, 2009 received from the ROC.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
L67120KA1987PLC032636 |
|
Name of the
company |
MANJUSHREE
TECHNOPACK LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 143-C5, Bommasandra Industrial Area, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80007153 |
|
Type of charge |
·
Book
Debts ·
Movable
Property ·
Floating
Charge ·
Immovable
Property ·
Any interest
in movable property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Form c2a, form
c5, form a and form b(3 sets), all
caused on 4th January 2010 for overall credit limit of Rs 1250.000 millions
in favour of state bank of India, industrial finance branch, residency road ,
Bangalore -560 025 |
|
Date of
instrument Creating the charge |
04.01.2010 |
|
Amount secured by
the charge |
1250.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest Term loan - 0.50%
above SBAR, effective rate 12.25% p. A. Cash credit - 0.50% below SBAR,
effective rate 11.25% p. A. Terms of
repayment Rupee term loan
of Rs 640.000 millions shall be repayable in 24 quarterly installments
commencing from June 2010 Cash credit limit
repayable on demand subject to review/renewal at yearly intervals. Margin Stock of raw
material 25% Stock in
process 25% Stock of finished
goods 25% Book debts 25% LC & BG
limits 10% Term loan 30.43% Extent and
operation of the charge (1)the overall
amount secured by the charge has been increased from Rs.566.000 millions to
Rs.1250.000 millions (2)the existing
security created by the company in favour of bank against overall limits
stands same as before |
|
Short particulars
of the property charged |
Hypothecation of
plant & machinery and other movables, stocks and book debts and other
receivables, both existing and to be purchased and owned by the company Plot no 60e at Bommasandra
Industrial Area, Apartment no
221,ii floor (plus car parking space) in building known as Ranka
Paradise, 9/8, Plot no 143-c5 at
Bommasandra Industrial Area, Plot no 60f at
Bommasandra Industrial Area, |
|
Date of latest
modification prior to the present modification |
12.10.2004 |
|
Particulars of
the present modification |
The overall
amount secured by the charge has been increased from Rs.566.000 millions to
Rs.1250.000 millions comprising of cash credit limit of Rs.300.000 millions,
term loans of Rs.820 millions, LC limit of Rs.125.0000 millions and BG limit
of Rs.5.000 millions, secured by a first charge on company's fixed (movable
and immovable) and current assets, both present and future, and subject to
compliance of bank's extant terms and conditions. |
UNAUDITED
FINANCIAL RESULTS FOR THE 1ST QUARTER ENDED 30.06.2010
(Rs.
In Millions)
|
Particulars |
Quarter Ended |
|
30.06.2010 |
|
|
(Unaudited) |
|
|
1.
Gross Turnover Income from Operations |
|
|
-Domestic |
590.582 |
|
-Export |
27.284 |
|
|
617.866 |
|
Less: Central Excise Duty |
46.980 |
|
Net Sales / Income from Operations |
570.886 |
|
2. Other
Income |
0.670 |
|
3. Total Income (1+2) |
571.556 |
|
4. Expenditure |
|
|
a. Increase)/ Decrease in Finished stocks |
76.707 |
|
b. Consumption of Raw Materials |
264.919 |
|
c. Power and Fuel |
38.283 |
|
d. Employee Cost |
26.142 |
|
e. Other Manufacturing expenses |
9.420 |
|
f.
Administrative and General Expenses
|
22.629 |
|
g.
Depreciation and writeoffs |
41.880 |
|
Total Expenditure |
479.979 |
|
5 Profit from operations before Interest |
91.576 |
|
6. Interest and Financial Charges |
12.238 |
|
7. Profit after Interest but Before Exceptional Items |
79.338 |
|
8. Exceptional Items |
- |
|
9. Profit from Ordinary Activities before
Tax |
79.338 |
|
10. (a) Provision for Taxation |
26.480 |
|
(b) Deferred Tax (Provision)/Write Back |
0.319 |
|
11. Profit from Ordinary Activities after
Tax |
52.539 |
|
12. Extraordinary Items (net of tax
expense) |
- |
|
13. Net Profit for the period |
52.539 |
|
14. Paid-up Equity Share Capital (face
value Rs.10) |
135.477 |
|
15. Reserves (excluding revaluation
reserves) |
- |
|
16. Basic and diluted EPS ) |
3.88 |
|
17. Public Shareholdings |
|
|
- Number of shares |
5805342 |
|
- Percentage of shareholding |
42.85 |
|
16. Promoters and promoter group
shareholdings |
|
|
(a) Pledge / Encumbered |
Nil |
|
(b) Non Encumbered |
|
|
- Number of shares |
7742358 |
|
- Percentage of Shares(as a % of total
shareholding of promoters and promoter group) |
100% |
|
- Percentage of Shares (as a % of total
share capital of the company) |
57.15 |
Note:
Previous period
figures have been regrouped wherever necessary to correspond with the figure
for the current period.
2. The above
Results were reviewed by the Audit Committee and taken on record by the Board
of Directors of the Company at their meeting held on August 1Mh. 2010 and he
limited review of he same has been carried out by the Statutory Auditors of the Company
3. The Company has
only single reportable business segment of Manufacturing of PET1 Plastics
Container in terms of the requirements of Accounting Standard 17.
4. The interest
and financial charges mentioned above includes
a sum of Rs.2.612 millions for the current quarter ended quarter ended 30th June 2009 of Foreign Exchange Losses
5. In terms of
amended clause 41 of listing agreement details of number of investor complaints
by the quarter ended 30th
June 2010: Beginning - Nil, Received -
3, Disposed of- 3 and
Pending - Nil.
Website Details:
Press Release:
Manjushree Technopack lists on National Stock
Exchange
Mr. Vimal Kedia, Managing Director, Manjushree Technopack said “We are glad to be listed on the National Stock Exchange. This listing will help us reach out to a larger group of investors who would have the chance to partner with us in the Manjushree growth story. We have grown at the rate of more than 30 percent year on year and we expect the momentum to continue throughout 2011. For the current financial year, we expect to reach a turnover of around Rs.2000 millions. ”
Manjushree Technopack is currently listed on Bombay Stock Exchange. At the time of its listing on the BSE in 2008, its shares reached a new high of Rs.66 while the closing price on 28th December stood at Rs. 82.80. The 52 Week high on BSE has been 109.80
About Manjushree Technopack:
Manjushree
Technopack is the only rigid packaging company offering total packaging
solutions under one roof, right from Concept to Design, R & D, Tooling and
Commercialization of the package.
Fixed
Assets :
- Freehold lands
- Building and Civil works
- Plant and machinery
- Utility Installations
- Computer Systems
- Furniture and Fixtures
- Vehicles
- Other 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.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.