MIRA
INFORM REPORT
|
Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
M TECH INNOVATIONS LIMITED |
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Registered Office : |
Plot No. P-1/2, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
20.02.1992 |
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Com. Reg. No.: |
25-65521 |
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CIN No.: [Company
Identification No.] |
U45402PN1992PLC065521 |
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IEC No.: |
3192006200 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEM01213C |
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PAN No.: [Permanent
Account No.] |
AADCM8512F |
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Legal Form : |
A Closely Held Public
Limited Liability Company |
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Line of Business : |
Manufacturer of
Smart Cards. |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 478000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealing with some caution. |
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. Ganesh |
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Designation : |
Accounts |
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Date : |
01.03.2010 |
LOCATIONS
|
Registered Office/ Corporate Office/ Factory : |
Plot No. P-1/2, |
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Tel. No.: |
91-20-22932032 |
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Fax No.: |
91-20-22933139 |
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E-Mail : |
info@m-techindia.com |
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Website : |
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Location : |
Owned |
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Factory 2 : |
33 KM
Stone, Pune - Satara Highway, Before
Nasrapur Turn, Gat No. 79, Village - Kelawade, Tal. – Bhore, |
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Tel. No.: |
91-2113-272273 |
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Fax No.: |
91-2113-272856 |
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Location : |
Owned |
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Factory 3: |
Hinjewadi Office Plot No. P-1/2, |
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Tel. No.: |
91-20-22933139 |
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Factory 4: |
Belapur Office ‘303’ Mayuresh Chamber CBDl, Belapur, “New Mumbai” |
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Tel. No.: |
91-22-27560410 |
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Marketing Offices : |
Located at: South Zone ·
House No. 3-4-827, Flat No.104, Saisubhi, Laxmi Complex,
Barkat Pura, Tel No.: 91-40-6534751. Fax No.: 91-40-6534753 Email : sdhanshri@eth.net ·
2nd Floor, No 10/O,Dr. Rajkumar Road,
Rajajinagar 4th "N" Block., Opposite, State Bank of Mysore,
Bangalore 10. ·
Chennai D2, Sumanth Apartments No-2, Bheemanna
1st, Alwarpet, Chennai-18 North Zone ·
2nd floor, H. No.- 67/9, Miglani Gali,Main
Market, Old Faridabad, Haryana – 121001Mobile No- 098117550232nd floor, H.
No.- 67/9, Miglani Gali,Main Market, Old Faridabad, Haryana – 121001 Mobile No- 09811755023 East
Zone · Kolkata H-428,B.Township PatuliKolkata-700094 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Vijay M.
Gandhi |
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Designation : |
Chairman cum
Managing Director |
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Address : |
686-1A, HEM Vijay
Chandrika Society, Bibwewadi, Pune – 411037 |
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Date of Birth/Age : |
09.09.1962 |
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Qualification : |
Diploma in Mechanical Engineering |
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Date of Appointment : |
20.02.1992 |
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Name : |
Mr. Rajkumar Milapchand Gandhi |
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Designation : |
Whole-Time
Director |
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Address : |
E 203, Shree Rajyog
Society, Bibwewadi, Pune – 411 037, |
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Date of Birth/Age : |
22.02.1967 |
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Qualification : |
Printing engineering |
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Date of Appointment : |
01.04.2004 |
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Name : |
Mr. Milind S.
Bhagat |
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Designation : |
Director |
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Address : |
C-605, Rajyog
Society, Bibwewadi, Pune – 411 037, |
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Date of Birth/Age : |
17.10.1960 |
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Qualification : |
Mechanical Engineering |
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Date of Appointment : |
20.02.1992 |
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Name : |
Mr. Murgappa
Baburao Halvekar |
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Designation : |
Director |
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Address : |
26, Vijayanti
Apartment, |
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Date of Birth/Age : |
06.03.1960 |
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Qualification : |
Automobile Engineering |
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Date of Appointment : |
20.02.1992 |
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Name : |
Mr. Vishal Prakash
Katariya |
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Designation : |
Independent
Director |
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Address : |
Flat No. 5,
Bhagyashree Apartments, |
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Date of Birth/Age : |
19.05.1976 |
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Date of Appointment : |
17.08.2006 |
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Name : |
Mr. Niranjan
Sadanand Nadkarni |
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Designation : |
Independent
Director |
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Address : |
301, Swojas
Swararaj, Krishna path, Off Law College road, Plot No. 6A, Pune – 411 004, |
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Date of Birth/Age : |
08.06.1965 |
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Date of Appointment : |
17.08.2006 |
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Name : |
Mr. Ramesh
Harakchand Gugle |
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Designation : |
Independent
Director |
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Address : |
162, Jamkhed,
District – Ahmednagar – 413 201, |
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E-Mail: |
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Date of Birth/Age : |
25.12.1955 |
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Date of Appointment : |
17.08.2006 |
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Name : |
Mr. Rajeev R |
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Designation : |
Director |
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Address : |
1696 East End, |
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Date of Birth/Age : |
10.11.1965 |
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Date of Appointment : |
06.09.2008 |
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Name : |
Mr. Karan Jasjit Singh |
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Designation : |
Director |
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Address : |
1696-2Bl, Swanalok, L. Jagmohandas Marg, |
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Date of Birth/Age : |
23.07.1979 |
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Date of Appointment : |
24.09.2007 |
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KEY EXECUTIVES
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Name : |
Mr. Aniket Arvind Deshpande |
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Designation : |
Secretary |
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Address : |
Flat No. 2, Plot No. 42, Ashiwini Ankur Society, Gurrat Colony,
Pune-411029, Maharashtra, India |
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Date of Birth/Age : |
30.03.1984 |
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Date of Appointment : |
04.09.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Vijay
Milapchand Gandhi |
|
1185550 |
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Mr. Rajkumar
Milapchand Gandhi |
|
537100 |
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Mrs. Anita Vijay
Gandhi |
|
369606 |
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Mr. Murgappa
Baburao Halvegar |
|
98718 |
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Mr. Sanjay
MilapchandGandhi |
|
88400 |
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Mrs. Padma
Rajkumar Gandhi |
|
38870 |
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Mrs. Zankarmal
Narayandas Firodiya |
|
10000 |
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Mrs. Manish Kantilal Gugle |
|
26000 |
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Mrs. Archana Rahul Gandhi |
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11525 |
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Mr. Rahul Gandhi |
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10750 |
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Mr. Sanjay Harakchand Gagale |
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25000 |
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Canbank Venture Capital Fund Limited, |
|
2368420 |
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Equity Share Breakup
(Percentage of Total Equity)
As on
30.09.2010
|
Category |
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Percentage of Holding |
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Bodies corporate (not mentioned above) |
|
8.65 |
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Venture Capital |
|
33.83 |
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Directors or relatives of directors |
|
36.46 |
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Other top fifty (50) shareholders (other than listed above) |
|
18.33 |
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Others |
|
2.73 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Smart Cards. |
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Products : |
·
RFID Products ·
RFID
Tags ·
RFID
Readers and Solutions ·
Industrial / Consumer Electronics Products ·
Membrane
Switches ·
Automotive and Home Appliances Products ·
Aluminium
Labels ·
In
Mould Decoration ·
Labels
and Stickers ·
Dome
Labels ·
Flexible
Speaker Grills ·
Moulded
Logos ·
All
logos, monograms, trademarks and designs are the property of their respective
owner
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PRODUCTION STATUS 31.03.2010
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Particulars |
31.03.2010 |
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Licensed Capacity |
Not Applicable |
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Installed Capacity |
Not Applicable |
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Actual Productions (Units) |
61507136 |
Note : As informed by the management, the company’s
products are exempted from Industrial Licensing Accordingly dis-closure
requirements concerning licensed capacity are not applicable to the company.
GENERAL INFORMATION
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No. of Employees : |
500
(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 : |
Mr. Dayananda Shetty
and Company, Chartered
Accountants |
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Address : |
15, Dalal
Chambers, Market Yard, Pune 411 037, |
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Tel. No.: |
91-20-24269352 |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9416400 |
Equity Shares |
Rs. 10/- each |
Rs. 94.164 Millions |
|
333600 |
B Class Equity Shares (The Issued and Unsubscribed 66400 “B” Class Equity Shares of Rs. 10/-
each have been cancelled an reclassified as 66400 “A” Class Equity Shares of
Rs. 10/- each, by passing appropriate resolution at the Extra ordinary
General Meeting of the company held on 29.01.2007) |
Rs. 10/- each |
Rs. 3.336 Millions |
|
|
Total |
|
Rs. 97.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6666876 |
A Equity Shares |
Rs. 10/-
each |
Rs. 66.669 Millions |
|
333600 |
B Class Equity Shares Out of the above 1434361 “A” Class Equity Shares
and 93600 “B” Class Equity Shares of Rs. 10/- each have been issued as fully paid up shares by
capitalising the free reserves in the earlier) (Out of the above 10000 “A” Class Equity
Shares of Rs, 10/- each have been issued to the promoters as fully paid up
for consideration received other than in cash) |
Rs. 10/-
each |
Rs. 3.336 Millions |
|
|
Total |
|
Rs. 70.005 Millions |
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 |
70.004 |
70.891 |
70.891 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
49.591 |
38.800 |
50.909 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
119.595 |
109.691 |
121.800 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
224.618 |
242.532 |
155.732 |
|
|
2] Unsecured Loans |
37.886 |
20.860 |
8.625 |
|
|
TOTAL BORROWING |
262.504 |
263.392 |
164.357 |
|
|
DEFERRED TAX LIABILITIES |
15.361 |
23.988 |
10.452 |
|
|
|
|
|
|
|
|
TOTAL |
397.460 |
397.071 |
296.609 |
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
327.302 |
336.173 |
160.455 |
|
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Capital work-in-progress |
37.383 |
38.555 |
110.864 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.189 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
40.302
|
31.660
|
29.123
|
|
|
Sundry Debtors |
48.438
|
39.461
|
36.955
|
|
|
Cash & Bank Balances |
8.292
|
6.781
|
6.012
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
26.453
|
24.103
|
17.913
|
|
Total
Current Assets |
123.485
|
102.005
|
90.003 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
7.461
|
10.099
|
3.192
|
|
|
Sundry Creditors |
69.998 |
61.911 |
44.157 |
|
|
Provisions |
15.232
|
8.762
|
18.698
|
|
Total
Current Liabilities |
92.691
|
80.772
|
66.047
|
|
|
Net Current Assets |
30.794
|
21.233
|
23.956
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.981 |
1.110 |
1.145 |
|
|
|
|
|
|
|
|
TOTAL |
397.460 |
397.071 |
296.609 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
274.726 |
247.815 |
244.105 |
|
|
|
Other Income |
9.017 |
9.024 |
7.424 |
|
|
|
TOTAL (A) |
283.743 |
256.839 |
251.529 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
128.632 |
106.827 |
105.393 |
|
|
|
Increase/ Decrease in Stock |
(8.452) |
0.252 |
(0.259) |
|
|
|
Cost of Employment |
56.847 |
50.076 |
46.661 |
|
|
|
Manufacturing Expenses |
22.580 |
20.906 |
14.089 |
|
|
|
Directors remuneration |
0.000 |
3.550 |
3.060 |
|
|
|
Auditor’s Remuneration |
0.000 |
0.055 |
0.054 |
|
|
|
Deferred Revenue Expenses w/off |
0.000 |
0.376 |
0.371 |
|
|
|
Administrative and selling expenses |
28.895 |
36.747 |
36.954 |
|
|
|
Excess Depreciation Provision of Earlier
year written back |
0.000 |
(9.386) |
0.000 |
|
|
|
TOTAL (B) |
228.502 |
209.403 |
206.323 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
55.241 |
47.436 |
45.206 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.062 |
26.745 |
12.604 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
23.179 |
20.691 |
32.602 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
21.016 |
17.959 |
21.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.163 |
2.732 |
11.479 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(8.628) |
13.841 |
4.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
10.791 |
(11.109) |
7.252 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(10.797) |
0.310 |
0.211 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(6.719) |
(10.797) |
7.463 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
26.484 |
42.469 |
51.767 |
|
|
TOTAL EARNINGS |
26.484 |
42.469 |
51.767 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and components |
50.066 |
47.376 |
29.030 |
|
|
|
Capital Goods |
1.598 |
62.109 |
35.238 |
|
|
TOTAL IMPORTS |
51.664 |
109.485 |
64.268 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.54 |
(1.58) |
1.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.80
|
(4.33)
|
2.88
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.78
|
1.10
|
4.70
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.47
|
0.63
|
4.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.02
|
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.96
|
3.14
|
1.89
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.26
|
1.36
|
LOCAL AGENCY FURTHER INFORMATION
Note : The Registered office address of the company has been shifted from
12, Premanand Society S. No.23 Mahavir Chambers, Balaji Nagar, Pune – 411043,
Mahrashtra, India to present address w.e.f. 10.03.2010
Sundry Creditors
Details :
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Creditors for raw material and Services |
57.569 |
36.672 |
31.687 |
|
Creditors for capital goods (amount due to Micro, Small and Medium Enterprises Rs.Nil) |
12.429 |
25.239 |
12.470 |
|
|
|
|
|
|
Total |
69.998 |
61.911 |
44.157 |
Operating Results
Even during the recession, the Company has succeeded in expanding its customer base. The net sales from 1st
April, 2009 upto 31st March, 2010 were Rs. 274.727 millions as compared to Rs. 247.815 millions for the financial year 2008-09. The export sales from 1st April, 2009 upto 31st March, 2010 was Rs. 33.787 Millions. The directors believe that the profits will increase once the Hinjewadi unit is fully functional.
Opportunities and
Outlook of the company:
The company expects increasing business opportunities for the company in
VISA card manufacturing and personalization, Unique Identity Card project,
Rashtriya Swasthya Bima Yojna, Master cards, Driving License Smart Card Project
of various staes and automotive business. With the expanded use of e-commerce,
the smart card related activities are expected to increase manifold.
Expansion and
Capital Expenditures:
During the year,
the company has not invested for the expansion and capital Expenditure.
Nature of Operations :
The
principal activities of the Company are designing, developing, marketing,
manufacturing of all types of Labels, Stickers, Dials, In-mould Products,
Identity cards, Prepaid Cards, Smart Cards, Card Readers, toothpicks, Dental
Products etc required by Consumer goods Industries, Telecommunication
companies, Banks and financial
Institutions, Social Clubs and general Public.
Form : 8
|
Name of the
company |
M – TECH INNOVATIONS LIMITED |
|
Presented
By |
Mr. Murgesh B Halvegar, Director |
|
1) Date and description
of instrument creating the change |
Indenture of Mortgage Dated 1st September 2005 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 156.000 Millions Demand Cash Credit : Rs. 27.500 Millions Stand by Line of Credit: Rs. 4.000 Millions Term Loan : Rs. 117.000 Millions Letter of Credit: Rs 2.500 Millions Bank Guarantee: Rs. 5.000 Millions |
|
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 |
1) Property at Gat No. 78, 79 at Kelawade
Taluka Bhor, District – Pune, more particularly described in Schedule-I 2) Property at Prennand Co-operative housing
society in plot no. 12, Dhankawdi, Pune more particularly described in Schedule
II 3) Property at Gultekdi, Market Yard, Pune
more so particularly described in
Schedule III |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of Interest at the rate of 2% over the
SBI Advance Rate with minimum of present 12.5% p.a. |
|
5) Name and
Address and description of the person entitled to the charge. |
State Bank of India, Industrial Finance
Branchll, Tara Chambers, Wakdewadi, Pune-Mumbai Road, Pune-411003,
Maharashtra, India |
|
6) Date and brief description of instrument
modifying the charge |
N.A |
|
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. |
N.A |
|
Corporate
identity number of the company |
U45402PN1992PLC065521 |
|
Name of the
company |
M-TECH
INNOVATIONS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. P-1/2 Phase - I,
Hinjewadi, Pune - 411057, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
The Vishweshwar
Sahakari Bank Limited. Pune, 471/472, Gultekdi, Market Yard, Through Its
Dhankawadi Branch, Pune – 411037, |
|
Nature of
instrument creating charge |
Deed Of
Hypothecation Of Tangible Goods/ Moveable Property. |
|
Date of
instrument Creating the charge |
22/10/2010 |
|
Amount secured by
the charge |
Rs. 50.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : 13.5% P.A. With
Monthly Rest. Terms of repayment : To Be Repaid In
84 Emi's Each Of Rs. 0.975 millions Excluding 6 Months Moratorium Period From
Date Of Disbursement. Margin : 40% Extent and operation of the charge : Type Of Credit
Facility: Term Loan Other : Pari-Passu
Sharing With SBI |
|
Short particulars
of the property charged (Including location of the property) |
1. Primary Security: Present And Future Plant And Machinery As Per Information Given To The Bank And Records Maintained At The Registered Office Of The Company. 2. Collateral Security: Immoveable Properties Specifically Described In The Schedule To The Deed Of Mortgage. 3. Additional Security: Immoveable Properties Specifically Described In The Schedule To The Deed Of Mortgage As Additional Security. |
|
Particulars of the
present modification |
By This
Modification Present And Future Plant And Machinery Are Provided As The
Primary Security To The Term Loan Of
Rs. 50.000/- millions Immoveable Properties Continues To Be The Collateral
Security And Additional Security To The Same Term Loan Facility. |
Fixed Assets
v Free
v Land and Building
v Plant and machinery
v Computer
v Dies and Moulds
v Furniture and Fixtures
v Motor Vehicle
v Wind Electric Generator
v Computer Software
v Other Equipments
AS PER WEBSITE
Profile
The M-Tech
(formerly Mahavir) Group of Industries was set up in 1987 and is a pioneer in
Engineering Plastics printing. Within a short span of time, M-Tech achieved market
leader status and is today among the leading manufacturers of printed plastics
for the consumer electronic industries, telecom, automotive companies, banking,
process control industry, industrial electronics and instrumentation companies.
The product range
includes Labels and Stickers, Flexible Speaker Grills, Membrane Switches, In
Mould Decoration, Security Cards and Smart Cards. The M-Tech Group was awarded
the ISO 9002 certification in 1996. The people, technology and production
capability have all been key elements in establishing themselves as a market
leader.
The basic principle
of the Quality Management System is preventing non-conformities and deviation
in product and processes, which assure quality to the organization and its
customers. Through stringent quality parameters and management system, and
adhering to high standards of customer satisfaction, M-Tech has had the
privilege of having among its customers Government Organizations, Public Sector
Undertakings, Banks, Telecom companies and leading multinational organizations.
History
1988: Company started in 1988 as M/s. Mahavir
Screen Printers, a small unit set up for printing of letter heads and visiting
cards.
1990: Manufacturing of plastic labels started for
the electronic industry with a range of around 200 items.
1993: Changes the name as Mahavir Decorative
Products Private Limited and Production of Membrane switches and panels
commenced and during the last ten years they are established as a preferred
supplier.
1995: Introduction of polyurethane coated Emblems
and Dome Labels
1997: Major diversification with the setting up
of the Security Cards Division, manufacturing PVC cards for varied
applications. Manufacturing of Prepaid and ATM cards also started in the same
year.
1999: A major product innovation in the form of
Flexible Speaker Grills for
the TV industry and Prepaid Scratch Cards for mobile phones.
2000: Commenced the supply of Smart Cards
(Chip/RFID cards) and associated peripherals in addition to offering smart
card-based solutions. An in-house R AND D facility was set up to study specific
user requirements and suggests cost-effective solutions with respect to
cards/readers appropriate to a given application.
2002: Health Care Division of M-Tech launches
"Dental Toner" and "Dental Floss" [Tooth Pick] under the
brand name "Dr. Flosser". Dr. Flosser can be called a new generation product
in dental care.
2002: Completed the development and started the
production of In-mold components.
2003: Health Care Division of M-Tech launches
Herbal Mouthwash.
2004: Health Care Division of M-Tech launches Hexoral
- Allopathic Mouthwash.
2004: Started the supply of Automotive Dials
and Contactless Cards and Readers.
2005:
Development of I-Code RFID Tags.
Achievements
2005: Doing a project with Tamilnadu Road
Development Corporation (TNRDC) for the smart card reader deployment for
Toll collection.
2003: Income Tax
PAN Card’s contract awarded
to M-Tech:
M-Tech Innovations
Private Limited (formerly Mahavir Decorative Products Private Limited) based in
Pune, India was recently awarded the prestigious order for the manufacture and
personalization of PAN cards of the Income Tax department of the Government of
India. The order was bagged through national competitive bidding initiated by
the channelising agency UTI-ISL, a government undertaking.
This is a first of
its kind government card project in
Awards
M-Tech is the
recipient of several prestigious awards.
2002: The Golden
Elan Award for selection as
finalist in the best phone card design category awarded by International Card
Manufacturers Association,
2001: GS Parkhe
Industrial Award for
Product Innovation.
2000: The
International Golden Image Award (2000) for Best Product Quality by the Screen Printing and Graphic
Imaging Association,
1997: The
Dahanukar Best Entrepreneur Award for best Entrepreneurship by MCCI.
1997: The Tata
Honeywell Award for best
quality system by the Maratha Chambers of Commerce and Industry (MCCI).
1994: The Industrial
Safety Performance Award
for best safety practices given by the Directorate of Industrial Safety and
Health Pune.
Detailed Product
Description
Aesthetics is as important as the technical specifications of the product. At
m-tech they will show you how to attract the buyer’s attention and help you to
do that.
M-tech is the first company in
They develop as well as manufacture graphic overlays, dials and automotive
dials as per customers’ requirement.
They are always looking forward in getting more business and greater
cooperation with overseas customers based on mutual benefits.
More Products
- In Mould Speedo Meter
Dials For Automobiles
- PC Based Reader
- Pc Based Contactless
Card Readers
- Pc Based Reader
BOARD OF DIRECTORS:
Mr. Vijay M.
Gandhi
He is the Chief promoter of the company. He started his career by working
as a operator in Bajaj Auto Limited, Pune Assembly line. While working he
completed the Diploma in Mechanical engineering from government polytechnic
college. In 1989 he started a small unit along with his fellow promoters a firm
called Mahavir Industries from the intital work of Printing letterheads and
visiting cards, he went on higher milestones of Printed Electronics Business to
make the company what it is today. Mr. Gandhi is the Managing Director and
Chairman of the company. He is a winner of “Dahanukar Award of MCCI” in 1997,
under his leadership company has won the award for “Good Quality System and
Practices” in their establishment from MCCI - Tata Honeywell award in 1997 also
company has won the merit award in 2001 for the product “Prepaid Cards”.
Mr.
Rajkumar M. Gandhi
He has completed the Diploma in printing engineering. Mr. R. M.
Gandhi is the Executive Director of the comapany and is looking after the
material sourcing and production of Membrane Division.
Mr. Milind S.
Bhagwat
Mr. Milind S. Bhagwat is a Mechanical
Engineer and Embedded Software Engineer, Member of ISHRAE. He is looking after
the R AND D Division, Smart Card Division and all the Technical Aspects of the
company's operations. He has total experience of 25+ years in engineering
field. Closely associated with business partners within and outside country.
Providing guidance and direction to the technical team of the company to
develop Innovative products particularly in latest technology like RFID etc.
Mr.
Murgesh B. Halvegar
He is the Automobile Engineer. He have developed good team of work
round-the-clock 365 days with safety, good environment and understanding
changes needed to shop floor in line with global compitition.
Mr. Niranjan
Nadkarni
Mr. Niranjan Nadkarni has Degree in Mechanical Engineering, Master
Degree in Management, Diploma in Business Management, Diploma in Marketing
Management and Diploma in PC Software. Also he has the technical qualifications
like IQA and RAB Assessor, GM, Daimler-Chrysler, Ford Qualified QS 9000 Lead
Auditor, VDA 6.1 Qualified Auditor, TUV Cert and TMS Registered Lead Auditor,
VETO person for all automotive standards and ISO/TS 16949:2002 Qualified Lead
Auditor.
Mr. Niranjan Nadkarni is a Member of the
Mr. Niranjan Nadkarni is a Non-Executive Independent Director of the Company.
Mr. Ramesh Gugale
He is an independent non-executive director of the Company. He is
a person with progressive ideas. Nobody could have thought of having "A
BANANA TISSUE CULTURE" business Jamkhed with the view to enrich the farmers.
But Mr. Ramesh Gugle with his foresight has a developed a huge tissue culture
business at Jamkhed.
Mr. Ramesh Gugle has vast experience in cloth, tissue culture, medicines,
healthcare and electronics.
Untiring hardwork, Iron will power, pleasant personality, gentle behavior and
devotion made him pride and glory of his business. Mr. Ramesh Gugle believes
"A good business is social work"
Mr. Vishal
Katariya
Mr. Vishal Katariya is an independent non-executive director of
the Company.
Mr. Vishal Katariya, LL.B., LL.M (UK), LL.M (US), is the Chair-Professor of IPR
(Intellectual Property Rights) of
Mr. Katariya received his law degree at
Mr. Katariya was awarded another scholarship to study masters of law in the
He worked in the
MR. Karan Singh
Mr. Karan Singh has been nominated as a director of the company from 24th
September, 2007. He is a non-executive director of the Company. Mr. Karan Singh
has done his graduation in the year 2002 from
Ms. RAJEE R.
Ms. Rajee R. is B.Tech [Electronics] and has also completed her MBA with
specialisation in Finance. She is the nominee director of Canbank Venture
Capital Fund Limited on the Board of M-Tech Innovations Limited w.e.f. 6th
September, 2008. She has over 19 years of experience in the Private Equity and
Venture Capital business in
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. 45.12 |
|
|
1 |
Rs. 73.43 |
|
Euro |
1 |
Rs. 62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.