|
Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MANIPAL TECHNOLOGIES LIMITED (w.e.f.
23.05.2011) |
|
|
|
|
Formerly Known
As : |
MANIPAL PRESS LIMITED (w.e.f. 04.04.2000) MANIPAL PRESS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.01.2000 |
|
|
|
|
Com. Reg. No.: |
08-026222 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 94.872 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219KA2000PLC026222 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM05742C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM9516H |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Printing
Related Services. |
|
|
|
|
No. of Employees
: |
1102
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 5600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and a reputed company having fine track. Financial position of
the company appears to be sound. Trade relations are reported as fair. Business
is active. Payments are reported to be regular 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- (Long Term Rating) |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation. It carry moderate credit risk. |
|
Date |
21.05.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered
Office : |
|
|
Tel. No.: |
91-820-2571121/
2571151 to 55/ 2571149-59 |
|
Fax No.: |
91-820-2570131/
2571162/ 70563/ 2571380 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
50000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
Press Corner, Manipal – 576104,
Karnataka, India |
|
Tel no : |
91-820-2571151 to 2571155 |
|
Fax No : |
91-820-2570131 / 2571162 |
|
E-Mail : |
info@manipalpress.com |
|
|
|
|
Branch Offices
: |
Located at : ·
·
Chennai
·
·
·
Mumbai
·
·
·
Chennai
·
Kolkata ·
Gurgaon |
DIRECTORS
AS ON 10.09.2011
|
Name : |
Mr. Tonse Guatham Pai |
|
Designation : |
Managing director |
|
Address : |
38, Ananthnagar, Manipal,
Udupi – 576104, Karnataka, India |
|
Date of
Birth/Age : |
26.09.1974 |
|
Date of
Appointment : |
29.07.2003 |
|
DIN No.: |
00120314 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
U22221KA1948PLC001159 |
Manipal
Media Network Limited |
Director |
31/03/2009 |
24/06/1997 |
- |
Active |
NO |
|
U64202KA1997PTC022991 |
Zeta
Infotech Private Limited |
Director |
1/09/1998 |
1/09/1998 |
- |
Active |
NO |
|
U65910KA1983PTC005626 |
Sharath
Investments Private Limited |
Director |
20/03/1999 |
20/03/1999 |
- |
Active |
NO |
|
U22219KA2000PLC026222 |
Manipal
Technologies Limited |
Managing
director |
1/11/2006 |
29/07/2003 |
- |
Active |
NO |
|
U24242KA2004PLC034633 |
Primacy
Industries Limited |
Managing
director |
1/04/2009 |
3/09/2004 |
- |
Active |
NO |
|
U28992KA2007PTC041395 |
Genesis
Packaging Private Limited |
Director |
5/01/2007 |
5/01/2007 |
- |
Active |
NO |
|
U22300KA2007PTC041394 |
Manipal
Digital Systems Private Limited |
Director |
5/01/2007 |
5/01/2007 |
- |
Active |
NO |
|
U72200MH2007PTC195863 |
Manipal
Informatics Private Limited |
Additional
director |
23/08/2007 |
23/08/2007 |
19/07/2008 |
Amalgamated |
NO |
|
U22219KA1973PTC002395 |
Manipal
Enterprises Private Limited |
Additional
director |
10/12/2007 |
10/12/2007 |
10/04/2008 |
Active |
NO |
|
U21014KA2008PTC045299 |
Manipal
Packaging Solutions Private Limited |
Director |
15/02/2008 |
15/02/2008 |
- |
Active |
NO |
|
U72900KA2008PTC045316 |
MCT
Cards and Technology Private Limited |
Director |
19/02/2008 |
19/02/2008 |
- |
Active |
NO |
|
U74140KA2008PTC046520 |
Manipal Ace
Event Management Company Private Limited |
Director |
22/05/2008 |
22/05/2008 |
- |
Active |
NO |
|
L22213TN1995PLC031845 |
Universal
Print Systems Limited |
Director
appointed in casual vacancy |
13/06/2008 |
13/06/2008 |
- |
Active |
NO |
|
U72200KA2009PTC050532 |
Manipal
Business Solutions Private Limited |
Director |
31/07/2009 |
31/07/2009 |
- |
Active |
NO |
|
U92200DL1959NPL003169 |
United
News of India |
Director |
24/11/2011 |
20/08/2009 |
15/12/2011 |
Active |
NO |
|
U74900KA2010PTC053146 |
Manipal
Logistics Private Limited |
Director |
7/04/2010 |
7/04/2010 |
- |
Active |
NO |
|
U92190KA2010PTC053930 |
Manipal
Studios Private Limited |
Director |
3/06/2010 |
3/06/2010 |
- |
Active |
NO |
|
U72200KA2000PLC027929 |
Manipal
Entertainment Network Limited |
Director |
24/09/2010 |
17/07/2010 |
- |
Active |
NO |
|
U51900KA2010PTC055404 |
Primacy
Global Enterprises Private Limited |
Director |
5/10/2010 |
5/10/2010 |
- |
Active |
NO |
|
U40108KA2011PLC056610 |
Manipal
Energy and Infratech Limited |
Director |
12/01/2011 |
12/01/2011 |
- |
Active |
NO |
|
U73100KA2011PTC057905 |
Manipal Printronics Private Limited |
Director |
29/03/2011 |
29/03/2011 |
- |
Active |
NO |
|
U72200KA2011PTC058810 |
Manipal
Digital Solutions Private Limited |
Director |
25/05/2011 |
25/05/2011 |
- |
Active |
NO |
|
U74900KA2011PTC059510 |
Manipal
Archival Solutions Private Limited |
Director |
7/07/2011 |
7/07/2011 |
- |
Active |
NO |
|
U92100KA2011PLC061061 |
Manipal
Broadcast Network Limited |
Director |
3/11/2011 |
3/11/2011 |
- |
Active |
NO |
|
Name : |
Mr. Tonse Satish Upendra Pai |
|
Designation : |
Director |
|
Address : |
No.38, Anant Nagar,
Manipalv, Udupi – 576104,
Karnataka, India |
|
Date of
Birth/Age : |
26.11.1941 |
|
Date of
Appointment : |
13.01.2000 |
|
DIN No.: |
00104361 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
U09214KA1941PLC001222 |
SRI
Ramakrishna Theatre Limited |
Director |
18/03/1967 |
18/03/1967 |
25/01/2008 |
Active |
NO |
|
U22221KA1948PLC001159 |
Manipal
Media Network Limited |
Managing
director |
18/07/2010 |
11/08/1969 |
- |
Active |
NO |
|
U85110KA1932PLC001078 |
Canara
Land Investments Limited |
Director |
6/04/1973 |
6/04/1973 |
- |
Active |
NO |
|
U51909KA1979PTC003517 |
Sharat Impex Company Private Limited |
Director |
25/04/1979 |
25/04/1979 |
- |
Active |
NO |
|
U02212KA1980PLC004010 |
Manipal Prakashan Limited |
Director |
25/11/1980 |
25/11/1980 |
- |
Active |
NO |
|
U65910KA1983PTC005626 |
Sharath
Investments Private Limited |
Director |
13/10/1983 |
13/10/1983 |
- |
Active |
NO |
|
U67120KA1988PTC009192 |
Shivally
Investment Company Private Limited |
Director |
14/06/1988 |
14/06/1988 |
- |
Active |
NO |
|
U74140KA1990PLC010763 |
MPL Enterprises
Limited |
Director |
7/06/2011 |
20/02/1990 |
- |
Active |
NO |
|
U22219KA1973PTC002395 |
Manipal
Enterprises Private Limited |
Director |
1/09/1992 |
1/09/1992 |
10/04/2008 |
Active |
NO |
|
U55101TN1988PLC015585 |
Manipal
Hotels Limited |
Director |
19/04/1995 |
19/04/1995 |
- |
Active |
NO |
|
U22219KA2000PLC026222 |
Manipal
Technologies Limited |
Director |
13/01/2000 |
13/01/2000 |
- |
Active |
NO |
|
U64202KA1997PTC022991 |
Zeta
Infotech Private Limited |
Director |
24/07/2000 |
24/07/2000 |
- |
Active |
NO |
|
U66010KA2001PLC029877 |
Manipal
Insurance Services Limited |
Director |
12/12/2001 |
12/12/2001 |
- |
Active |
NO |
|
U55101KA2002PTC030183 |
Manipal
Resorts Company Private Limited |
Director |
1/03/2002 |
1/03/2002 |
22/05/2009 |
Active |
NO |
|
U45201TN1999PLC043271 |
Manipal
Properties Limited |
Director |
29/09/2003 |
29/09/2003 |
- |
Active |
NO |
|
U05110KA2005PTC036616 |
Konkan
Commodity and Derivatives Private Limited |
Director |
30/01/2006 |
30/01/2006 |
- |
Active |
NO |
|
L65110KA1995PLC017907 |
ICDS
Securities Limited |
Director |
30/01/2006 |
30/01/2006 |
- |
Active |
NO |
|
U21014KA2008PTC045299 |
Manipal
Packaging Solutions Private Limited |
Director |
15/02/2008 |
15/02/2008 |
- |
Active |
NO |
|
U72900KA2008PTC045316 |
MCT
Cards and Technology Private Limited |
Director |
19/02/2008 |
19/02/2008 |
- |
Active |
NO |
|
U72200KA2009PTC050532 |
Manipal
Business Solutions Private Limited |
Director |
31/07/2009 |
31/07/2009 |
- |
Active |
NO |
|
U92100KA2011PLC061061 |
Manipal Broadcast
Network Limited |
Director |
3/11/2011 |
3/11/2011 |
- |
Active |
NO |
|
Name : |
Mr. Sachin Tonse Pai |
|
Designation : |
Director |
|
Address : |
14, Ananthnagar, Manipal,
Udupi – 576104, Karnataka, India |
|
Date of
Birth/Age : |
10.03.1976 |
|
Date of
Appointment : |
16.04.2004 |
|
DIN No.: |
00795780 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U22219KA2000PLC026222 |
Manipal
Technologies Limited |
Director |
16/04/2004 |
16/04/2004 |
Active |
NO |
|
U18100MH2005PTC154899 |
Best
Sellers Apparels Private Limited Part IX |
Director |
19/07/2005 |
19/07/2005 |
Active |
NO |
|
U28992KA2007PTC041395 |
Genesis
Packaging Private Limited |
Director |
5/01/2007 |
5/01/2007 |
Active |
NO |
|
Name : |
Mr. Perdoor Vaman Mallya |
|
Designation : |
Director |
|
Address : |
D63C, Ananth Nagar,
II Stage, Manipal, Udupi
– 576104, Karnataka, India |
|
Date of
Birth/Age : |
31.08.1948 |
|
Date of
Appointment : |
25.01.2000 |
|
DIN No.: |
00120272 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
U65910KA1983PTC005626 |
Sharath
Investments Private Limited |
Director |
30/01/1999 |
30/01/1999 |
- |
Active |
NO |
|
U22219KA2000PLC026222 |
Manipal
Technologies Limited |
Director |
25/01/2000 |
25/01/2000 |
- |
Active |
NO |
|
U22219KA1973PTC002395 |
Manipal
Enterprises Private Limited |
Director |
26/09/2008 |
24/04/2008 |
- |
Active |
NO |
|
U72200KA1998PTC023347 |
Zeta
Cyber Solutions Private Limited |
Director |
11/07/2008 |
11/07/2008 |
25/03/2011 |
Active |
NO |
|
U72900KA2008PTC045316 |
MCT
Cards and Technology Private Limited |
Additional
director |
7/10/2011 |
7/10/2011 |
- |
Active |
NO |
|
U22221KA1948PLC001159 |
Manipal
Media Network Limited |
Additional
director |
12/10/2011 |
12/10/2011 |
- |
Active |
NO |
|
U92100KA2011PLC061061 |
Manipal
Broadcast Network Limited |
Director |
3/11/2011 |
3/11/2011 |
- |
Active |
NO |
|
Name : |
Mr. Prabhakara Dayananda
Kamath |
|
Designation : |
Director |
|
Address : |
Shivaprabha, Katapady, Katapady, Udupi – 576105, Karnataka, India |
|
Date of
Birth/Age : |
21.04.1966 |
|
Date of
Appointment : |
25.01.2000 |
|
DIN No.: |
00935434 |
|
|
|
|
Name : |
Mr. Giulio Olivotto |
|
Designation : |
Nominee director |
|
Address : |
VIA GM Brunori, 45, Monteviale
VI, Monteviale VI, Italy 36050 |
|
Date of
Birth/Age : |
24.11.1945 |
|
Date of
Appointment : |
28.07.2007 |
|
DIN No.: |
01595753 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2011
|
Names of Shareholders |
No. of Shares |
|
T. Mohandas Pai |
40500 |
|
T. Satish U. Pai |
170904 |
|
Madhav Ramadas Pai |
190128 |
|
T. Narayana Pai |
81000 |
|
T. Ashok Pai |
186474 |
|
T. Gautam Pai |
163314 |
|
Manipal Prakashana
Private Limited, India |
1215000 |
|
T. Sachin Pai |
6000 |
|
Sandhya S Pai |
14064 |
|
T. Gayathri Pai |
23436 |
|
K. K. Pai |
5450 |
|
Rajan Ramdas Pai |
7026 |
|
Vasanthi Ramdas Pai |
14064 |
|
Sharath Investment Company Private Limited, Manipal, India |
47808 |
|
Shivalli Investment Company Private Limited, Manipal, India |
88128 |
|
T Sunil Ponse |
7032 |
|
T Sanjay pai |
9375 |
|
T. Narayan Pai and Mrs. Vijaylaxmi N. Pai |
3516 |
|
Savoy Investment Private
Limited, Manipal, India |
4686 |
|
T Upendra Satish Pai, HUF, Manipal, India |
3750 |
|
Manipal Media Network Limited, Manipal, India |
4359409 |
|
Legoprint SpA, Italy |
2246170 |
|
Simest SPA, Italy |
600000 |
|
TOTAL
|
9487234 |
AS ON 09.01.2012
|
Names of Allottees |
No. of Shares |
|
Manipal Media Network Limited, India |
1757678 |
|
TOTAL |
1757678 |
AS ON 31.03.2012
|
Names of Allottees |
No. of Shares |
|
Quad Graphics Mauritius
Limited, USA |
1533000 |
|
TOTAL |
1533000 |
AS ON 10.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
30.00 |
|
Bodies corporate |
60.24 |
|
Directors or relatives of Directors |
9.76 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing
Printing Related Services. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
1102
(Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
The Saraswat
Co-Operative Bank Limited, Ballal Towers, Court
Road, Jodukatte, Opposite T.M.C.A. Udupi-576101,
Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sriramulu Naidu and
Company Chartered
Accountants |
|
Address : |
2nd Floor,
Rambhavan Complex, Kodialbail,
Mangalore - Manipal, |
|
PAN No.: |
AAVFS3877R |
|
|
|
|
Name : |
Pai Nayak and
Associates Chartered
Accountants |
|
Address : |
III Floor, Raaj Towers, Near City Bus Stand,
Udupi – 571001, Karnataka, India |
|
PAN No.: |
AAEFP5516E |
|
|
|
|
Subsidiaries : |
Universal Print
Systems Limited CIN No.:-
L22213TN1995PLC031845 MCT Cards and
Technology Private Limited CIN No.:-
U72900KA2008PTC045316 Manipal Business Solutions Private Limited CIN No.:-
U72200KA2009PTC050532 ·
Manipal Energy and Infratech Limited ·
Manipal International
Printing Press Limited, Kenya |
|
|
|
|
Associates : |
·
Manipal Media Network
Limited ·
Manipal Prakashana Limited ·
Shivalli Investment
Company Private Limited ·
Sharath Investments
Private Limited ·
Manipal Digital Systems
Private Limited ·
Genesis Packaging Private Limited Manipal Thomas Greg Press Private Limited CIN No.:-
U22211KA1999PTC024806 Manipal Logistics Private Limited CIN No.:-
U74900KA2010PTC053146 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
5000000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
TOTAL |
|
Rs. 250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9487234 |
Equity Shares |
Rs.10/- each |
Rs. 94.872
Millions |
|
|
|
|
|
AS ON 10.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
5000000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
TOTAL |
|
Rs. 250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12777912 |
Equity Shares |
Rs.10/- each |
Rs. 127.779
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
94.872 |
94.872 |
94.872 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1311.186 |
1259.292 |
1223.110 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1406.058 |
1354.164 |
1317.982 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3329.522 |
3154.508 |
2959.717 |
|
|
2] Unsecured Loans |
34.357 |
75.184 |
293.011 |
|
|
TOTAL BORROWING |
3363.879 |
3229.692 |
3252.728 |
|
|
DEFERRED TAX LIABILITIES |
186.082 |
168.250 |
150.130 |
|
|
|
|
|
|
|
|
TOTAL |
4956.019 |
4752.106 |
4720.840 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2984.538 |
2924.854 |
2944.387 |
|
|
Capital work-in-progress |
158.359 |
229.519 |
133.233 |
|
|
|
|
|
|
|
|
INVESTMENT |
237.133 |
263.370 |
156.695 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
501.308
|
412.878 |
343.294 |
|
|
Sundry Debtors |
862.572
|
884.966 |
710.663 |
|
|
Cash & Bank Balances |
100.777
|
85.270 |
450.568 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
468.787
|
329.526 |
233.235 |
|
Total
Current Assets |
1933.444
|
1712.640 |
1737.760 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
320.601
|
338.152 |
104.087 |
|
|
Other Current Liabilities |
34.681
|
37.953 |
133.908 |
|
|
Provisions |
2.173
|
2.172 |
13.240 |
|
Total
Current Liabilities |
357.455
|
378.277 |
251.235 |
|
|
Net Current Assets |
1575.989
|
1334.363
|
1486.525
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4956.019 |
4752.106 |
4720.840 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
3139.259 |
2893.563 |
2320.728 |
|
|
|
Other Income |
88.741 |
103.584 |
60.924 |
|
|
|
TOTAL (A) |
3228.000 |
2997.147 |
2381.652 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1575.673 |
1499.644 |
1199.727 |
|
|
|
Manufacturing service costs |
456.017 |
423.534 |
263.252 |
|
|
|
Employee related expenses |
267.106 |
224.218 |
180.470 |
|
|
|
Administrative selling other expenses |
351.480 |
369.864 |
46.209 |
|
|
|
Prior period Items |
35.414 |
11.033 |
50.906 |
|
|
|
Seang Expense |
-- |
-- |
257.967 |
|
|
|
Increase / (Decrease) in Stock |
-- |
-- |
(23.702) |
|
|
|
TOTAL (B) |
2685.690 |
2528.293 |
1974.829 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
542.310 |
468.854 |
406.823 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
301.267 |
262.950 |
152.851 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
241.043 |
205.904 |
253.972 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
171.676 |
151.603 |
75.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
69.367 |
54.301 |
178.670 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.473 |
18.120 |
63.345 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
51.894 |
36.181 |
115.325 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
430.830 |
394.649 |
301.423 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
11.000 |
|
|
|
Dividend |
0.000 |
0.000 |
9.487 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
1.612 |
|
|
BALANCE CARRIED
TO B/S |
482.724 |
430.830 |
394.649 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on F.O.B. basis |
58.982 |
185.880 |
115.172 |
|
|
TOTAL EARNINGS |
58.982 |
185.880 |
115.172 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
149.517 |
125.690 |
233.214 |
|
|
|
Stores & Spares |
14.538 |
17.952 |
6.186 |
|
|
|
Capital Goods |
15.126 |
204.237 |
828.528 |
|
|
TOTAL IMPORTS |
179.181 |
347.879 |
1067.928 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
11.41 |
8.79 |
12.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.61 |
1.20 |
4.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.21 |
1.81 |
7.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.41 |
1.17 |
3.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.04 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.79 |
2.79 |
2.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.41 |
4.53 |
6.92 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
OVERVIEW
The Company’s
Gross Revenue increased from Rs. 2976.400 Millions to
Rs. 3257.800 Millions, during the year posting a
growth of 9.45%. The Operating profit for the year increased to Rs. 577.700 Millions from Rs.
479.900 Millions in the previous year, an increase of 20.37%. The Interest
charge was at Rs. 301.300 Millions as against Rs. 262.900 Millions in the previous year and the
depreciation charge went up to Rs. 171.600 Millions
from Rs. 151.600 Millions. The higher charge of
Interest and Depreciation is on account of the expansion plan carried out by
the Company in the last 2 years. The Profit before tax stood at Rs. 104.800 Millions as against Rs.
65.300 Millions in the previous year.
The Company has
explored European market for its Exports and due to melt down in European
markets some of the Clients defaulted in payment. As a matter of prudence, the
Company decided to make provisions against these receivables. The Company is
pursuing legal recourse against these clients. This has been provided under
Exceptional items as the Company feels that this will not be a routine thing in
the future.
The Profit after
Tax after adjusting for exceptional items stood at Rs.
51.900 Millions as against Rs. 36.200 Millions in the
previous year.
PROJECTIONS FOR THE YEAR 2011-12
The Company has
set a Revenue target of Rs. 4600.000 Millions for the
year 2011-12. The Company expects its Commercial and Packaging divisions will
continue to grow and contribute substantial revenue during the year. Cost
saving and lean manufacturing measures initiated during the year will continue
and is likely to result in enhanced profits in the year 2011-12.
SUBSIDIARIES AND JOINT VENTURES
MCT Cards and
Technology Private Limited: Catering to plastic card segment such as banking
cards and non-banking cards has grown by 102 %, with a Gross Turnover of Rs. 237.100 Millions during the year. Order flow has
substantially increased resulting in higher utilization of the machines, for
the year 2010-11 posted Earnings before Interest, Depreciation of Rs. 10.400 Millions. The Company will start making profit
in the year 2011-12.
Manipal International Printing
Press Limited, Nairobi, Kenya: During the calendar year 2010, the Company
posted a revenue growth of 92.10% to Ksh 2,279 Lakhs from Ksh 1,186 Lakhs. For the year 2010 the Company posted a profit of Ksh 215 Lakhs.
Universal Print
Systems Limited: Company’s revenue for the financial year 2010-11 stood at Rs. 297.700 Millions as against Rs.
191.100 Millions an increase of 56%. Profit after tax for the year stood at Rs. 10.400 Millions as against Rs.
0.009 Million in the financial year 2009-10.
Genesis Packaging
Private Limited: Genesis Packaging Private Limited ceased to be a Subsidiary
during the year.
Manipal Business
Solutions Private Limited: The Company has set-up a new state of the art unit
in Gurgaon to develop software products to address
payment solutions, track and trace and solution for financial inclusions. The
Company’s revenue stood at Rs. 1.400 Millions as
against Rs. 0.007 Million in the previous year.
FIXED ASSETS
·
Freehold
Land
·
Leasehold
Land
·
Buildings
– Freehold
·
Buildings
– Leasehold
·
Electrical
Fittings
·
Furniture
and Fittings
·
Office
Equipments
·
Plant
and Machinery
·
Car,
Van and Other Vehicles
·
Computers
and Pheripherals
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. 55.70 |
|
|
1 |
Rs. 87.54 |
|
Euro |
1 |
Rs. 68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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.