MIRA
INFORM REPORT
|
Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
MANMAN MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered Office
: |
1157, Sadashiv Peth, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.10.2000 |
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Com. Reg. No.: |
25-15449 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 millions |
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CIN No.: [Company Identification
No.] |
U51909PN2000PTC015449 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM08200D |
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PAN No.: [Permanent Account No.] |
AADCM0589J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Surgical Instruments, Engineering
Equipment and Bone Drill. |
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No. of Employees : |
60 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 64000 |
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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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Madhukar Gokhale |
|
Designation : |
Director |
|
Contact No.: |
91-9822080030 |
|
Date : |
31.08.2011 |
LOCATIONS
|
Registered Office/Factory : |
1157, Sadashiv Peth, |
|
Tel. No.: |
91-20-24477578 / 24450189 |
|
Mobile No.: |
91-9822080030 (Mr. Madhukar Gokhale) |
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Fax No.: |
91-20-24476213 |
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E-Mail : |
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|
Website : |
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Area : |
3000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Madhukar Gokhale |
|
Designation : |
Chairman-cum-Managing Director |
|
Address : |
1157, Sadashiv Peth, |
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Date of Birth/Age : |
22.10.1940 |
|
Date of Appointment : |
18.10.2000 |
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DIN No.: |
00385981 |
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Name : |
Mrs. Madhuri Gokhale |
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Designation : |
Director |
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Address : |
1157, Sadashiv Peth, |
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Date of Birth/Age : |
01.08.1942 |
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Date of Appointment : |
18.10.2000 |
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DIN No.: |
00385877 |
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|
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Name : |
Ms. Swamini Gokhale |
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Designation : |
Director |
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Address : |
1157, Sadashiv Peth, |
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Date of Birth/Age : |
11.04.1973 |
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Date of Appointment : |
18.10.2000 |
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DIN No.: |
00386150 |
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|
|
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Name : |
Mr. Sudhir Gokhale |
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Designation : |
Director |
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Address : |
1157, Sadashiv Peth, |
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Date of Birth/Age : |
26.03.1950 |
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Date of Appointment : |
18.10.2000 |
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DIN No.: |
00387680 |
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Name : |
Ms. Radhika Datye |
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Designation : |
Director |
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Address : |
D23/ 24, Madhaushree Society, |
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Date of Birth/Age : |
04.12.1965 |
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Date of Appointment : |
18.10.2000 |
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DIN No.: |
00393135 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U51909PN2000PTC015449 |
Manman
Manufacturing Company Private Limited |
Director |
18-10-00 |
18-10-00 |
Active |
NO |
|
2 |
U29299PN2001PTC016074 |
Deepnanda
Technologies Private Limited |
Director |
12-04-01 |
12-04-01 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Madhukar Gokhale |
|
30000 |
|
Madhuri Gokhale |
|
30000 |
|
Swamini Gokhale |
|
30000 |
|
Sudhir Gokhale |
|
30000 |
|
Radhika Datye |
|
30000 |
|
Total |
|
150000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Madhukar Gokhale |
|
20000 |
|
Madhuri Gokhale |
|
20000 |
|
Swamini Gokhale |
|
20000 |
|
Sudhir Gokhale |
|
20000 |
|
Radhika Datye |
|
20000 |
|
Total |
|
100000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Surgical Instruments, Engineering
Equipment and Bone Drill. |
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Products : |
Surgical and Allied Instruments |
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Exports : |
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Products : |
·
Surgical Instruments ·
Engineering Equipment |
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Countries : |
·
·
·
·
Ghana etc. |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
·
·
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Electric Equipments |
Not ascertained |
Not ascertained |
Since various type of electronic Equipment are manufactured, quantity
Not ascertained |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
60 Approximately |
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Bankers : |
·
Bank of Deccan Gymkhana Branch, ·
HDFC Bank ·
HSBC Bank ·
Shree Sharada Sahakari Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sachin Ambedkar Chartered Accountant |
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Address : |
1821, Sadashiv Peth, Pune – 411 030, |
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Tel. No.: |
91-20-24478724 (O) / 24478735 (R) |
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Fax No.: |
91-20-24476173 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 millions |
|
100000 |
10% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.1.000 millions |
|
|
Total |
|
Rs.2.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 millions |
|
100000 |
Preference Shares |
Rs.10/- each |
Rs.1.000 millions |
|
|
Total |
|
Rs.2.500
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 |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
13.475 |
10.432 |
7.424 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.975 |
12.932 |
9.924 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12.278 |
12.053 |
5.791 |
|
|
2] Unsecured Loans |
5.145 |
5.245 |
5.295 |
|
|
TOTAL BORROWING |
17.423 |
17.298 |
11.086 |
|
|
DEFERRED TAX LIABILITIES |
0.223 |
0.117 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
33.621 |
30.347 |
21.010 |
|
|
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|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
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|
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FIXED ASSETS [Net Block] |
15.303 |
16.474 |
9.004 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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INVESTMENT |
2.028 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.165 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.188
|
3.438
|
4.030 |
|
|
Sundry Debtors |
17.036
|
16.375
|
10.866 |
|
|
Cash & Bank Balances |
0.476
|
0.291
|
0.638 |
|
|
Other Current Assets |
3.610
|
2.284
|
1.265 |
|
|
Loans & Advances |
1.485
|
1.733
|
0.369 |
|
Total
Current Assets |
27.795
|
24.121
|
17.168 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
1.731
|
3.377
|
1.478 |
|
Total
Current Liabilities |
11.514
|
10.426
|
5.178 |
|
|
Net Current Assets |
16.281
|
13.695
|
11.990 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.009 |
0.013 |
0.016 |
|
|
|
|
|
|
|
|
TOTAL |
33.621 |
30.347 |
21.010 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
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Turnover |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
50.827 |
42.419 |
26.804 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
38.365 |
24.233 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
46.624 |
38.365 |
24.233 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.203 |
4.054 |
2.571 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.942 |
1.190 |
0.797 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.75
|
9.99 |
9.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.31 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.81
|
2.14 |
1.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41
|
2.31 |
3.32 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate identity number of the company |
U51909PN2000PTC015449 |
|
Name of the company |
MANMAN MANUFACTURING COMPANY PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
1157, Sadashiv Peth, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10106664 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Bank of Deccan Gymkhana Branch, |
|
Nature of description of the instrument creating or modifying the
charge |
Memorandum of record of equitable mortgage |
|
Date of instrument Creating the charge |
07.06.2011 |
|
Amount secured by the charge |
Rs.16.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest 1.CC: Base Rate + 3.00% presently 13.00% as per credit Risk Rating
'AAA' as on 31.03.2010 2.BG: As per C.O. guidelines Terms of repayment CC: on Demand BG: As stipulated by the Bank Margin CC: 25% minimum in bank's favour BG: 25% by way of fixed deposits Extent and operation of the charge First Charge on Assets Hypothecated in favour of Bank Others (Rs. in millions) Facility Existing Limit Enhanced Limit Total Limit Cash Credit
Rs.8.500
Rs.6.500 Rs.15.000 Bank Guarantee Nil NIl Rs.1.000 ============================================================== Total Limit
Rs.8.500
Rs.6.500 Rs.16.000 |
|
Short particulars of the property charged |
·
All those freehold pieces and parcel of land
situated being and lying at Plot No. S.No. 47/30/1, Parvati, ·
i.e. 544.50 sq. mtrs and construction thereon on
1800 sq. ft, together with all structures now standing thereon and to be
constructed thereon. ·
Gala No.7 admg an area of 600 sq. ft. on the 1st
floor of the building known as Suprim Industrial Estate, S.No.49/1, Parvati,
Pune Satara Road, Pune 411 009, Taluka Haveli, Dist Pune. together with the ·
rights for all common areas and facilities and
fixtures and fittings ·
Gala No.8 admg an area of 600 sq.ft. on the 1st
floor of the building known as Suprim Industrial Estate, S.No.49/1, Parvati,
Pune Satara Road, Pune 411 009 Dist Pune, Taluka Haveli ·
together with the rights for all common areas and
facilities and fixtures and fittings. ·
Gala No.9 admg an area of 600 sq. ft. on the 1st
floor of the building known as Suprim Industrial Estate S.No.49/1, Parvati, ·
Together with the rights for all common areas and
facilities and fixtures and fittings. |
|
Particulars of the present modification |
Vide this modification the company has extended security of its
immovable property to cover the limits of Rs.16.000 millions. |
FIXED ASSETS
·
Land
·
Factory Shed
·
Plant and Machinery
·
Dyes and Moulds
·
Electrical Fittings
·
Office Equipment
·
Computer
·
Furniture
·
Measuring Tools
·
Generator
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.47.81 |
|
|
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.